Demand Generation Machine

• B2B Lead Generation In Times Of Recession: Learn The Simple Formula neil 17 June

Yes the recession has hit companies worldwide and everyone has felt the pinch. Time to cut costs, jobs, budgets and expenses. Lets start with the pay cuts. No bonuses or increments for the staff this year, in fact half will have to take pay cuts. No free lunches, no client entertainment budgets, we’ll cut IT spending by 50%, inventory by 30% and marketing and lead generation budgets by 50% as well.

Stop! Rewind! Can you repeat that last part? Did I hear cut marketing and lead generation budgets as well?

Now every marketing and sales team knows you need to generate X number of leads or prospects to have Y number of opportunities in the pipeline to close Z number of customers. In tough times when companies are holding back from buying it doesn’t mean that all prospects are going to stop buying altogether so you should stop selling, it only means they are going to be harder to come by. So if they are harder to come by within the same pool of leads then you need to increase Y and to do that you need to increase X. So to close the same number of customers you would target under good market conditions you would have to generate, comb through and qualify a larger volume of leads and generate more opportunities understanding that the rate of closure will be lower. So contrary to hacking away at the marketing budget like the others, step it up to ensure a better chance of being able to close the sales targets you set out to achieve.

How much should lead generation be stepped up? Work backwards. Determine where you stand, how far are you from your target closures and then accordingly decide how many more leads would you need to start off with to close the remaining. Its not rocket science. Its about generating sales.

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