The way we market today has fundamentally shifted. Thanks to social media and the availability of a massive amount of data, end users live in a real-time digital world. If you are not moving fast your competitors will eat your lunch. So how fast is fast enough? What exactly is high velocity marketing?
High velocity marketing can mean one of two things. 1) Either your business model is highly transactional and you have the need for large volume of sales to meet your business objectives, or 2) you are trying to acquire customers extremely quickly in order to achieve the holy grail of business: hockey stick type growth. A lot has to do with the demand type of your product or service and how you go to market.
High velocity isn’t just for new, SaaS-based startups. Companies of all sizes have need for velocity:
- Startups with a new concept trying to grab market share quickly before the competition catches up – think Yammer with its quick penetration of 85% of the Fortune 500 with a Twitter/Facebook for Enterprise concept (and gobbled up by Microsoft).
- SMBs trying to disrupt an existing market with a new paradigm – HubSpot is a great example with a focus on inbound marketing vs. interruption marketing with disruptive pricing versus competitors such as Eloqua
- Enterprises who are trying to grow in an established (competitive) market or penetrate a new geography – a good example would be Bing going big trying to catch up with Google for search market share.
Today if you aren’t thinking about moving fast you are going to be left behind. Here are 3 keys to high velocity B2B marketing:
Build a Content Operations Function
We live in a Content Marketing world and chances are you are producing engaging content that can be shared in social as thought leadership, for SEO to pull visitors to your website, or as outbound materials to educate prospects at various stages in the buy cycle. However as you can see the demands are high in an attention economy – not only do you need quality content you need a lot of fresh content – blog articles, videos, website content, sales enablement content, demand gen offers, product updates.
In order to keep your content marketing machine going, B2B companies have to operationalize how they produce content. The cadence of content production from your content factory is critical to growing the top of the funnel with new visitors and names.
Micro-Manage Your Lead Funnel
With great power comes even greater responsibility. This superhero aphorism takes on even greater meaning with high velocity marketing. If you are generating a high volume of leads at the top of the funnel you cannot pass all the leads to Sales team. Unqualified leads that are not sales ready will waste the time of your reps and their productivity will be low (think lead to opportunity conversion %). You need the data and intelligence to pass the best leads to your sales team at the right time.
Also, lead scoring based on behavior, segmentation of your database into various personas or profiles are critical to understanding what leads have the highest propensity for closing. Your sales funnel in a sense becomes multiple funnels because different types of leads close at different rates. You need to be able to distinguish between those tiers of leads and micromanage the conversion rates to maximize the yield from both the leads and your Sales team.
Become An Agile Marketing Organization
With the need to move fast it is important for you to have a nimble marketing organization. An integrated mix of inbound and outbound marketing are required if you want to hit your top of the funnel goals. Inbound requires a lot of resources and outbound requires a lot of specialized skills (especially related to marketing automation) and small teams have to jump between both. Marketing is also emerging as the new IT department since more and more they manage the website (CMS) and primary systems (CRM and Marketing Automation). Often marketing is a surrogate of the Support team as well since end users jump to social to vent their issues.
At the end of the day your teams need to Get Stuff Done (GSD) and without some agile methodology or tools there are chances that something is not getting done. True, you can’t do everything – you need to focus on the most important things and that is what agile is being all about with a high focus on output that drive the desired results.
What do you think? How are you adjusting to the need for high velocity lead generation? What are some of the strategies of tactics you are employing? Please share your thoughts in the comments. And oh, if you are interested in learning more about what it takes to do high velocity marketing and how to maintain Zen through all the craziness please join a webinar I’m presenting with the Mintigo team on Thursday, June 13th at 1PM ET (10AM PT).