002 - Creating demand is not mutually exclusive to any one facet of marketing.
1* “A common misconception inside companies is that Demand Gen purely refers to one subdomain of marketing (e.g. paid media or ABM).”
Creating demand is not mutually exclusive to any one facet of marketing. Creating demand often relies on multiple teams and disciplines, working together on one aligned goal.
One mistake that comes from this misalignment, is that businesses set individual KPIs vs team goals. Working in silos mean the overall impact to the business will be affected.
“Demand Gen is holistically bringing the sub-functions of Marketing together to drive buying interest and intent from the market, prospects and customers.”
2* Lead generation in 2022.
“Don't follow the same exact playbook as every other B2B company with your path to download cadence”
Typically, the standard practise is. Download lead magnet > multiple nurture emails > SDR follow up calls
95% of B2B companies will do this. “The bar is so incredibly low here to improve upon and a massive opportunity to start creating a stronger relationship with these individuals.”
Sam Kuehnle outlines how simple and small creative executions can surprise and delight your future customers. They include.
- Add a note to the form saying you WON'T call them immediately with a sales pitch
- Have some fun on the confirmation page with the copy by saying you know what it's like after these downloads occur and dreading all of the emails you're about to receive, and that you won't do that to them
- Shoot a quick video from your CEO that thanks them for being interested enough to download and proactively say to reach out to them if there's anything else they can do to help
- Any other small action you can take to show that there's a HUMAN on your side as well
Small considerations like this are important. Because B2B products and services for the majority, are now commoditised.
What can help drive value in today’s competitive landscape, is being known as a customer centric brand.
3* Copywriting is one of the most undervalued skills in marketing. Period.
This is when you get the opportunity to show your customer you understand them, you know their pain, their goals, and how your product or service can help them.
But brands make the mistake of focusing on themselves.
Buyers don't want to hear about how good you are, they want to know that you understand them and their needs.
That's why your copy should always be focused on your buyer.
To help ensure your copy is buyer-centric, check out Dan Kennedy's “10 Smart Market Diagnosis and Profiling Questions.” The questions Dan uses are as follows:
What keeps them awake at night, indigestion boiling up their esophagus, eyes open, staring at the ceiling?
What are they afraid of?
What are they angry about? Who are they angry at?
What are their top three daily frustrations?
What trends are occurring and will occur in their business or lives?
What do they secretly, ardently desire most?
Is there a built-in bias to the way they make decisions? (Example: engineers = exceptionally analytical.)
Do they have their own language?
Who else is selling something similar to them, and how?
Who else has tried selling them something similar, and how has that effort failed?
This simple checklist ensures you keep the focus on your buyers!
4* What is Net Revenue Retention Rate?
What Is NRR?
Net Revenue Retention (NRR) Rate is the percentage of recurring revenue retained from existing customers in a defined time period, including expansion revenue, downgrades, and cancels. This churn metric gives a comprehensive view of positive as well as negative changes with respect to customer retention.
Why is this important?
Retaining customers is key to operating a healthy and profitable business. A high Net Retention Rate (NRR) is an indication that your offering represents a strong value proposition for your customers. NRR is an indication of how well a company can not only renew but generate additional revenue from its customers following an initial sale, in what’s often referred to as a “land and expand” strategy. NRR is also an important component of profitability. Acquiring a new customer can be 5 - 25 times more costly than retaining an existing customer. By keeping and expanding your existing customers, you reduce your Customer Acquisition Cost (CAC), therefore increasing your profitability.
This statement was first featured on Klipfolio,
5* It's not strictly B2B, but a smart framework that can be applied to other areas of your hiring strategy, especially if you’re a B2B company.
As a prominent figure within the Silicon Valley community, Andrew Chen is often asked when’s the right time to hire A Head of Growth.
Andrew categories 5 stages of business growth that outline when companies should consider recruitment for this role. Each stage has its own set of challenges, unique goals, and best practices. Those 5 stages are as follows.
The Cold Start Problem
Tipping Point
Escape Velocity
Hitting the Ceiling
The Moat
Andrew goes into detail o those unique goals, challenges, and best practiser per stage here.
