4 Steps to Cut Down Your Active Demand Gap
There is always a difference between the demand you experience and the actual demand available in the market. This difference or gap is what we call as the Available Demand Gap or ADG. So how do you plan to figure out what is your ADG and how to close it down?
How to Calculate Your ADG?
In simple words, ADG is the difference between the visible demand in your funnel and the actual demand in the market at any given point of time (also known as available demand)
So to calculate your ADG you need to check:
- Visible Demand: Total inbound web leads and outbound leads generated through sales, telemarketing, and MAP.
- Available Demand: The product of your ICP (Ideal Customer Profile), availability of demand units per ICP, and the percentage replaced at a given time period.
- Available Demand Gap: It is the difference between the visible demand and the available demand at a given time period.
So the question arises how to add value to the business and accelerate beyond your competitors by closing the ADG. Let’s look at the steps below:
How to Cut Down Your ADG?
One thing is certain, you cannot cut down your ADG overnight!
However, with a methodical approach, you can march in the right direction of delivering consistent strategic value by capitalizing both quantity and quality of the demand in your marketing funnel.
Step 1: Recognizing Additional Available Demand
For bridging the ADG, you will need something more than just new list of leads from third party. The issue with these third party lead lists is that they usually don’t pinpoint active demand and just offer names. You will only find active demand when you are capable to interact with the lead. There is a lesser chance of you seeing the demand unit around the lead.
For that you will require more precise information about data units. It is important to spot where the activity might take place. A good place to start is setting up a handle on the search keywords that yield similar solutions that you offer.
Step 2: Leverage Convenient Shortcuts
While marketing intends to fill up the funnel, sales teams are prospecting on their own. In many B2B companies, the sales teams do majority of the prospecting. By moving some of your focus to back their account based efforts, you can help them significantly.
Step 3: Influence Available Demand
Once you have identified more active demand, you need to start making an impact with marketing content and value offers. It will require time and money, but this needs to be done.
You should also be able to utilize data about targeting active demand units with specific content types. The more you understand your target audience, the better is the chance of increasing the consideration rates.
Step 4: Actively Engage the Available Demand
In this step, you will need to actively engage the newly found demand units. It means targeting the audience almost in real-time.
You will need to understand the intensity of demand of each individual account at any point of time through a real, monitored activity – though they are not yet in your funnel. You will also need real purchase intent insights to assist you better concentrate on the resources.
Addressing the above 4 steps will put you in a better position to close up your ADG and provide real value for your organization.