The Global Associates B2B Demand Generation is perhaps the toughest job in the world that has been made even tougher by a continuing sluggishness of global economy in recent years. Most companies adopt the same process for taking their sales leads forward- they start with a large pool of prospects and subsequently narrow it down through qualification, appointment setting, presentation, proposal, discussion, negotiation etc, leading to deal closing if everything goes well. Although the use of technology has become prevalent today; developing an efficient process for each stage of the sales process is still the only way of enhancing B2B demand generation.
Lack of a defined process and common errors:
Lack of a defined process often gives rise to some common problems that affect the B2B demand generation adversely. Let us take a look at some of the mistakes sales organizations make, reducing efficiency and productivity.
· Over-dependence on generating fresh leads:
Fresh opportunities are of course needed on a regular basis, however, concentrating only on new leads and not doing enough about the existing ones is often the undoing of most sales organizations. It’s a process that needs investing time, effort and money; it’s a costly way of trying to improve your sales results.
· Over-reliance on technology:
Using technology is the need of the modern age, however, technology can never be a replacement for an efficient system. Technology can only help you find and iron out problems; demand generation needs a sound strategy and hard work. Over reliance on technology can be a costly mistake.
· Too much focus on closing ratios:
Closing deals is the ultimate objective of any sales organization, however, if you are concentrating solely on deal closing ratios and neglecting other stages of the sales process; you are in for a rude shock. Measure the success of each stage of the process to make it more efficient and result oriented.
Avoiding these common errors is imperative for enhancing B2B demand generation in this era of fierce competition. One must not rely too much on technology; creating fresh leads on a regular basis and managing each stage of the sales process can ensure greater results and success rate.