What is IT marketing?
In short, IT marketing refers to marketing the services or products of IT companies (sometimes with the help of IT marketing companies). Maybe it sounds easy, but in fact, we need to clarify what is “marketing” and what is an “IT company”. And, while the definition of “IT company” may be more or less understandable (in practice, it’s an umbrella term for a software services company or a software product company), different interpretations of the meaning of “marketing” sets IT marketers up to fail.
The American Marketing Association’s (AMA) current definition of marketing (from July 2013) is: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Lead Generation Goals for IT Companies
Typically, when I meet with a client, the very first conversation centers around goals.
How Many Leads Do You Need per Month?
A lead generation goal is the total number of potential customers your marketing team should achieve in a given period since they got the necessary resources.
To establish a lead generation goal, find out:
- How much revenue does your marketing team need to generate? For example, US$ 100.000,00 of revenue during the PERIOD.
- How many clients will be necessary to reach this goal? For example, 5 clients with an average transaction size of US$ 20.000 during the PERIOD.
- How many leads will it take to sign this number of contracts? For example, 250 leads during the PERIOD if your lead-to-sale (or lead-to-customer) conversion rate is 2% (5 clients / 0.02 = 250).
In this way, the lead generation goal for your company will be 250 leads that should be achieved until the set deadline.
What to do if you haven’t achieved your lead generation goals during the reporting period?
First, you need to locate the cause of this problem. Second, for each cause you have identified, determine the root cause (Root Cause Analysis).
Digital Marketing for IT Companies
Digital Marketing Matters Now More Than Ever
According to Gartner’s “B2B Buying Journey” report, “44% of millennials preferring no sales rep interaction in a B2B purchase setting… The best work in digital selling is not happening within sales departments but rather in marketing. Progressive marketers have shifted from spec sheets and product overviews to digitally rich buyer enablement. They are helping customers manage the complexities of an end-to-end purchase decision and navigate the implications for their business.
Gartner posits that “sales leaders failing to shift significant focus, resources, and political capital into creating rich digital experiences through the next five years risk alienating customers and losing business as a result… The company website is the place to start.”