The lion share of discussion about Lead Generation is focused on prospecting for new logos. It makes sense to leverage lead generation for this purpose since it’s uniquely capable in this area. Executing a world-class Lead Generation program is the most effective method to drive new logo acquisition.
Interestingly enough, firsthand experience in launching Lead Development teams has shown that existing customers make up a sizable portion of qualified leads turned over to sales. Thinking of lead generation for just prospecting is ignoring the greater potential for expanding business through cross-sell and up-sell across the customer base.
Cross-sell and Up-sell across Customer Base
Lead Generation programs with marketing automation platforms are in an ideal position to identify existing customers researching new products or services. The frequency of customer research online is quite remarkable, but most companies have no insight into this activity. By targeting prospects and customers, lead generation capabilities can deliver a one-two punch to drive revenue.
Cross-sell and Up-sell campaigns should be targeted to both existing and prospect accounts. In many companies the rules of engagement with the sales team don’t allow the lead development team to engage existing accounts. This is a missed opportunity as early stage interest should be cultivated through 1:1 nurturing. The rules of engagement can be written in partnership with sales to plan the ideal transition. As soon as the contact shifts out of awareness and into interest, then the lead development team can provide the lead and insights of activity to the appropriate account executive.
Lead development team support to the sales team in the area of 1:1 nurturing to early stage contacts is a booster to drive cross-sell and up-sell to existing accounts.
Lead Generation for Key Accounts
Key accounts are identified as the set of accounts that represent a disproportional revenue contribution to total sales. In addition, under-developed accounts that have large potential can be key accounts as well. Lead Generation plays a vital role in escalating the effectiveness of Key Account programs.
For many companies key accounts can represent a large percentage of total revenue, yet there is little to no lead generation applied. Lead generation can be used to drive engagement across a company, and into new divisions and departments. Custom key account marketing campaigns can be launched to increase the breadth and depth of contacts across the account.
This is done through close coordination with the key account team who know the client contacts intimately. A custom marketing campaign is designed based on the needs of the client. The content delivery consists of value-based offerings such as invitations to custom webinars, onsite seminars, white papers, and relevant articles.
Lead Generation for Key Accounts – Top 10 Best Practices
The following are best practices to guide you in assessing your current state.
Key Accounts are identified and not off limits to the LeadGen team
Invite new contacts deep & wide across the account and map to CRM contacts
Lead Management Process documents steps for Key Accounts
Custom Key Account marketing campaigns are developed
Dedicated marketing resources are assigned to support campaigns
1:1 Nurturing is performed across Key Account contacts
Automated Nurturing is performed deep to influencers and implementers
Offer content built specifically by buying stage
Customize content to account preference and knowledge of their needs
Leverage marketing automation for insights into contact activity