360 degree customer view as future industry standard
Pretty pictures and snappy slogans have long been a thing of the past in marketing. Today, management increasingly demands a measurable share of revenue. This is especially true in the competitive electronics industry. The solution: better integration of marketing and sales and a 360-degree customer view. This also applies to the B2B customer journey!
A study by US consulting firm Demand Gen (Demand Gen Report 2018) showes:
Management is prepared to invest more in marketing activities in the future. One fifth of those surveyed even by more than 20 percent. But they also demand a clear return on investment. The fact that sales pressure in marketing is increasing has been observed for years, especially in the USA. This can therefore also be expected in Germany in the foreseeable future.
New KPIs for successful marketing
Interesting - and new: The KPIs for successful marketing are:
-> i.e. the prospects who are ready for sales
but also the number of interested parties, who actually received an offer from the sales department.
What that means?
It is imperative that marketing gets feedback from sales to be able to call this metric: The 360 degree customer view
Gone are the days when marketing dumped a bag of leads on the sales department in the hope that "there's bound to be a hot lead in there." This is no longer the end of marketing's role.
It's no longer about the mass of sales prospects. As can be seen in the following graphic: For 73 percent of respondents - lead quality is more important than lead quantity.
The 10 essential rules in dealer sales - winning more end customers with sales partners.
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Complex products - long sales channels - difficult lead journey traceability
To make matters worse, most products in the electronics industry are complex. And therefore difficult to explain. And often expensive:
An investment needs to be well considered. Accordingly, the decision-making process often takes a long time.
How can a manufacturer's marketing department still trace back which business deal can be assigned to which marketing activity, months after a marketing campaign?
This is how you create measurable figures in indirect sales
In this 20-minute webinar, you will see how to create more transparency and better lead processing in indirect sales. Register now!
This is only possible if a lead (i.e., a prospect) can be tracked throughout its entire journey: from initial contact, to handoff to sales, to close, and beyond.
The solution: A 360-degree customer view through Automated, Digital Opportunity Management
360-degree customer view: Lead tracking only works reliably over many months if the distributors - or the external sales team - constantly provide the manufacturer with feedback on the current sales phase:
And, in case it doesn't close:
All this information helps not only to assign leads to each marketing action, but also to deliver an accurate return on investment.
Sales software like leadtributor do just that:
30 Min. Consultation
We will show you how to create a digital lead management cycle with your sales partners, specialist dealers, installers, distributors, sales representatives and field sales force - completely automated.