In the wake of quarantine, “business as usual” is nowhere in sight. As an economist-turned-marketer, I take solace in quantifying problems and working from tangible plans. I want to move past the indecision of the past quarter and pull marketing teams back into alignment. Enter the demand gen model.
I’ve spent hours creating (and now updating) this template to help you map how many leads and opportunities you need to generate.
How the funnel has shifted
Even if you hit your Q2 goals, your usual funnel metrics have definitely shifted. We’re seeing:
- some campaigns surprisingly worked or underperformed
- trade shows and in-person events are cancelled
- a lot of teams are working with a lead deficit heading into 2H
- win rates changed as people put purchases on hold or rushed to fill a gap
- pricing is dropping and sales cycles lengthening
- capacity is dropping with so many people caring for their kids or parents
- massive layoffs have limited what campaigns can even be executed
- annual revenue goals changed, with specific geographies or products newly prioritized
- marketing efforts are focusing on existing business
The path forward
Using a model, we want to validate what shifted and create new assumptions: What is realistic and achievable through the end of 2020? The goal is to move out of “free fall” and “fire drill”. Once we quantify the new reality, we can reallocate resources to the tactics that are still fruitful.
This template includes opportunity models for new and existing business (because the assumptions are likely different), and a lead gen plan. You plug in:
- your revenue goals
- sales capacity
- sales cycle
- and funnel conversion rates
The model will do the rest and calculate how many ops you need. And it will show you the cost of the leads and opps to get there.
Honestly, the first time you do this, you’ll probably have a CRAZY number of opportunities you need to generate, at a wildly out-of-budget cost.
That’s when you go back to your exec team, finance, and your sales leaders to say “Okay, if we want to get to these revenue numbers, in this environment, this is what needs to change.” An open conversation about poor assumptions helps lift the burden off marketing’s shoulders. And it’s a far more convincing conversation when you are armed with the model–rather than just suspecting the goals and budget aren’t achievable.
The deep dive
In this workshop I go column by column through the entire demand gen model, helping explain how you can personalize it with multiple geographies and products.
I hope this tool helps you regroup, get organized, and focus on the next six months.
Real talk: hope is not a strategy! This robust Lead Gen Plan template maps how many leads and opps you need to generate each quarter.