Startup CXO

Chapter 43Generating Demand for Sales

There are many different personas that fit today's CMO. There's the thought leader, the brand marketer, the product marketer, the digital marketer, and others. Some would argue that the demand generation CMO is the most sought‐after persona in today's business environment (for both B2B and B2C). After all, marketing—if done right—is no longer a cost center, but a revenue center. Demand generation is the set of sales and marketing tools, approaches, systems, and programs that generate interest for your product or service. They are the things that nurture prospects into customers and retain those customers over time. Unlike the traditional marketer who is measured by the number of leads generated, the demand generation marketer is measured by their contribution to revenue.

That sounds logical, doesn't it? That a demand generation CMO is measured by their contribution to revenue? But there's a lot that goes into figuring out how demand leads to revenue. John Wanamker, considered by some to be a pioneer of marketing, is credited with coining the phrase “Half the money I spend on advertising is wasted; the trouble is I don't know which half.” Good demand generation is anchored by good data, and good data will allow you to understand your marketing and sales cycles. Good data also helps you identify and refine your ideal buyer and understand what's working and what's not working. You need good data to make informed decisions about marketing investment ...