The need for speed in B2B marketing
Tom Cruise isn’t the only one feeling the need for speed. For years, B2C marketers have understood the power of lead velocity.
Now, B2B marketers realize that they can no longer stay in the slow lane. With increasingly fierce competition for the ears and eyes of B2B buyers, capitalizing on when a lead is most receptive has never been more important.
With many companies burdened with cumbersome and inefficient lead data management systems, the need for speed is increasing. I’ve lost count of how many times I’ve seen organizations that still rely on manual processes like spreadsheets to manage their lead data and as a result struggle to respond quickly enough to potential leads – some taking weeks or even months. However, by automating and streamlining processes and implementing interconnected systems, increasing lead velocity can take companies out of the “danger zone” – reducing follow-up to a matter of times when the potential commitment is at its peak. Businesses just need to know how to unlock this hidden marketing advantage.
Why speed is especially crucial today
According to the director of the IMF, the world faces an ever-increasing risk of recession in the next 12 months. In addition to hard-hit individuals, businesses are also suffering. On top of that, several countries, including the UK, have announced the withdrawal of budget support this year, compared to 2021.
With that in mind, the ability to capitalize on valid, high-quality leads is more important than ever. Capitalizing on an effective lead is more important than ever for marketers. Doubling down on technology and processes that reduce the time it takes to follow up on a lead will be key to achieving business goals and turning what seems like an uncertain future into a time of success.
The speed problem in B2B
The problem with marketing operations now is that many companies still rely on manual processes for data management. Despite the time-consuming and inefficient process of using spreadsheets, many marketers still rely on these outdated methods. According Seller, when using marketing automation, 80% of marketers saw an increase in leads and 63% of companies outperformed their competitors. So why are manual processes still the norm? According The Ultimate Marketing Automation statistics overview report by emailmonday, only 9% of professionals say they have invested enough time in all phases of the marketing technology project, and 28% expressed a lack of understanding of the available technology. As a result, resources are wasted on manually processing leads, and with fluctuating and unpredictable trends and behaviors, this can adversely affect business success.
How to do better
Marketing Operations Managers (MOMs) need to start investing in their MarTech stacks in order to stay ahead of their competition. According to the visitor queue, 45% of organizations still do not have a clearly defined digital marketing strategy. On top of that, four in ten businesses said their primary marketing goal was to increase lead generation. Instead of sabotaging themselves and sticking to tools like Excel to manage lead data, marketers now have the ability to use dedicated platforms to optimize their leads, improve leads and increase lead quality, which helps businesses achieve their marketing goals.
A platform like Converter can automatically filter, enhance, normalize, and route accurate and actionable prospect data. With Convertr, customer databases are protected from costly bad data and hardened by providing comprehensive, high-value profiles accessible across the technology stack. Not only that, but solutions like Convertr allow marketers to better tailor their demand program. Instead of manually processing leads once a day, they are now delivered automatically, which means hotter leads for customers.
Security is also a key factor. Instead of managing data in spreadsheets, it is securely processed and delivered through an API, minimizing data security risks. This frees up marketers’ time from menial tasks and can be reallocated to focus on more strategic efforts such as campaign optimization and customer service. This, in turn, helps improve campaign performance and drive revenue growth.
In the end, whether it’s B2B or B2C marketing, campaign success and lead conversion come down to one thing: speed. In today’s economic climate, the time it takes to generate leads and see results needs to be accelerated. By deploying platforms that ensure fast, secure, and automated lead processing and delivery, MOMs can achieve their strategic goals, eradicate invalid data, and refocus their efforts on value-added tasks.
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