Coming back from SD Summit in Vegas, I am busy sorting through my ideas, business cards, and pictures of session slides on my phone. After attending sessions about demand creation strategy, marketing operations and ABM, it was time to get serious about deciding where to start putting my learnings into action.
As a marketing practitioner, Sirius Decisions Summit is the perfect mix of discovering the new models and frameworks to operationalize your demand creation, account based marketing efforts, while learning what others have done successfully through conversations with peers and attending some of the case study sessions.
The big buzz at the event was around the release of the new ‘Demand Waterfall’ which is the model used to track your lead management process once the buyer’s journey has begun. Senior research directors, Terry Flaherty and Kerry Cunningham, introduced the evolution of the ‘Demand Unit Waterfall’ which includes two new stages (Target & Active Demand) focused on identifying potential buying groups vs. individual leads before they have raised their hand. With the emergence of predictive tools, account targeting and matching is becoming more and more popular. The other stages that follow are the Engaged Demand, Prioritized Demand, Qualified Demand, Pipeline and Closed as seen in the previous model.
The Demand Units are the key components of the new model, which are defined as the buying groups that want to purchase a solution to fulfill a business need. Organizations may have one or many buying groups based on the business needs they are trying to solve.
At INXPO we have multiple buying groups that align to our four solutions of Marketing, Sales Enablement, Corporate Communications and Training. Additionally, our solutions provide organizations with the ability to move buyers down their respective waterfall. As you can see in the diagram below the buyer group can be made up of multiple leads that make up the buying group.
Account based marketing approaches are here to stay and are becoming the norm for the way brands create demand for their business. “Now marketing and sales organizations will have a more accurate view of how they are doing against targeted accounts and how engaged accounts are converting,” Kerry Cunningham said.