They say hindsight is 20/20 and while it may be helpful to look back at 2019, it’s more productive to plan ahead. Now is a great time to create a marketing program for 2020 that will improve the quality of your leads, increase conversions and grow sales revenue.
Why is it so difficult to accurately identify the average B2B lead conversion rate? One significant reason is that what constitutes a “lead” is subjective and variable. For example, is a lead the contact details from someone who downloaded a white paper? Or is it those contact details plus criteria like company size or job title that provide access to a higher value asset?
Fundamentals, in most competitive endeavors, are what we must first learn and master in order to perform well. They provide us with confidence in setting basic direction and a stable foundation when the going gets rough. In marketing, sound fundamentals help set strategic direction, guide tactical plans and provide benchmarks for determining execution and performance.
The other day I caught a reference on an episode of Mad Men to the Four P’s. The episode was set in the early 1970’s, which means Phil Kotler’s game-changing concept of the Four P’s (product, price, placement, and promotion) had just recently been published in his book, Marketing Management: Analysis, Planning, and Control.