The word—LEAD CENTRIC—when 90s marketers come across the word, they would greet it with a beaming smile on their face. They would rewind all their golden days associated with the strategy that used to generate the best traffic and in turn new leads for them.
Marketers, back in the day, tasted a bit of success with lead-centric marketing. However, as it is said “most times, old ways don’t open new doors”, the traditional methods don’t hold you good in winning the modern market.
Yet, some marketers around the world are still searching for the heavenly doors of success with lead-centric approach. To explain the scenario, Forrester research pulled out a staggering piece of statistics on traditional marketing i.e.
Less than 1 per cent of leads are turning into revenue-generating customers.
Why the turnaround? What’s going wrong with this “one-to-many approach” of lead-centric marketing?
Let’s dive deep into the cases that led lead-centric to fall short of modern needs of revenue generation (and at a rapid pace):
#1 Waste of Resources: Lead Centric Marketing is Too Resource-intensive
If you are practising traditional marketing, that means you are targeting audiences in bulk. It wastes time, budget and effort filling the funnel with prospects that aren’t associated with the problems you are solving as a business.
#2 Lack of Marketing and Sales Alignment
The future of revenue generation depends on how much "marketing" and "sales" leverage each other. One without the other's complete alignment cannot survive and make a difference in the organisation.
#3 Tracking of Individual Accounts
Lead-centric Marketing doesn’t help to track the level of engagement with an individual account, thus making it harder for making consequential decisions.
You might have fed content to the entire market of accounts and you have no idea whether the content really reached the individual. Or how the individual interacted with it.
#4 Unable to Link Accounts
If you have an individual of a particular company in your huge list of target audiences, it will take a lot of effort to connect that individual to their colleagues across that account.
Wondering what’s the remedy for this turnaround!?
This is the time you should look out for modern, data-driven productive strategies that can build the marketing-sales interaction/alignment to boost your revenues.