Demand Generation for Midmarket Companies
- Shikha Pakhide
- September 26, 2024
- Demand Generation
Midmarket companies are like a river steadily flowing towards the ocean. At this pivotal stage, they combine the agility of small businesses with the ambition of larger enterprises. Their growth is promising, but the real challenge is steering that momentum in the right direction. To succeed, they must balance scaling up with maintaining the flexibility that has driven their progress, ensuring they don’t lose their way in an increasingly competitive landscape.
A structured plan is essential for scaling to enterprise level
Demand generation without a structured plan is like planting seeds in a vast field without any strategy. You might get some growth, but it will be inconsistent and scattershot. A structured plan, on the other hand, is like carefully mapping out where each tree should go, ensuring that your efforts bear fruit in the form of scalable and sustainable growth. For midmarket companies, this strategy becomes even more critical because you’re managing a bigger team, larger lead pools, and the complexities that come with scaling. A clear demand generation plan helps midmarket businesses move from growth to enterprise success. You need to nurture leads, align sales and marketing teams, and create a smooth customer journey. Without it, you’re trying to cross a river without a bridge—sure, it’s possible, but it’s far more difficult, and you’re likely to get stuck midway.
From scale to soar
1. Competition
- Path to Success
- Ground Reality
You can succeed by clearly defining your unique value proposition and understanding competitors’ strengths and weaknesses. Stay agile, track industry trends, and use customer feedback to continuously improve and maintain a competitive edge.
You’re no longer just competing with small businesses; you’re in the same ring as large enterprises with deep pockets and a global presence. It’s like trying to compete with an oak tree when you’re still a sturdy sapling.
You can succeed by clearly defining your unique value proposition and understanding competitors’ strengths and weaknesses. Stay agile, track industry trends, and use customer feedback to continuously improve and maintain a competitive edge.
You’re no longer just competing with small businesses; you’re in the same ring as large enterprises with deep pockets and a global presence. It’s like trying to compete with an oak tree when you’re still a sturdy sapling.
2. Buyer journeys
- Path to Success
- Ground Reality
The complexity of the midmarket buyer journey requires more precise targeting. Develop refined buyer personas that represent the various decision-makers involved in purchasing. Each lead is like a different plant species in your garden—they require tailored care to thrive. By understanding who you’re talking to, you can customize your messaging and build stronger connections.
As companies grow, the buyer’s journey becomes longer and more complicated. More decision-makers, longer sales cycles, and evolving customer needs create a maze that can be difficult to navigate. It’s like trying to herd cats—one minute they’re interested, and the next, they’re off somewhere else entirely.
The complexity of the midmarket buyer journey requires more precise targeting. Develop refined buyer personas that represent the various decision-makers involved in purchasing. Each lead is like a different plant species in your garden—they require tailored care to thrive. By understanding who you’re talking to, you can customize your messaging and build stronger connections.
As companies grow, the buyer’s journey becomes longer and more complicated. More decision-makers, longer sales cycles, and evolving customer needs create a maze that can be difficult to navigate. It’s like trying to herd cats—one minute they’re interested, and the next, they’re off somewhere else entirely.
3. Data and technology
- Path to Success
- Ground Reality
Rather than continuing with disconnected systems, invest in scalable CRM and marketing automation tools. These will give you a 360-degree view of your leads and streamline the process of nurturing them. Think of it like upgrading from a leaky hose to an efficient irrigation system—you’ll water each plant (or lead) just the right amount, ensuring healthy growth.
Midmarket companies often use a mix of legacy systems that don’t integrate smoothly. This patchwork of tools makes it hard to get a clear picture of your leads and their journey through the sales funnel. Imagine trying to water your growing plants with a leaky hose; no matter how much effort you put in, you’re not getting the full impact.
Rather than continuing with disconnected systems, invest in scalable CRM and marketing automation tools. These will give you a 360-degree view of your leads and streamline the process of nurturing them. Think of it like upgrading from a leaky hose to an efficient irrigation system—you’ll water each plant (or lead) just the right amount, ensuring healthy growth.
Midmarket companies often use a mix of legacy systems that don’t integrate smoothly. This patchwork of tools makes it hard to get a clear picture of your leads and their journey through the sales funnel. Imagine trying to water your growing plants with a leaky hose; no matter how much effort you put in, you’re not getting the full impact.
4. Team alignment
- Path to Success
- Ground Reality
Sales and marketing need to work as a single, coordinated unit. Set up regular meetings, establish shared goals, and create processes that ensure everyone is on the same page. Like two wings of a bird, they need to flap in unison for your demand generation to take off.
Larger teams often come with communication breakdowns. Sales and marketing are like two sides of a canoe: they need to row in sync to make progress. If not, you’ll find yourself spinning in circles, with lost leads and missed opportunities.
Sales and marketing need to work as a single, coordinated unit. Set up regular meetings, establish shared goals, and create processes that ensure everyone is on the same page. Like two wings of a bird, they need to flap in unison for your demand generation to take off.
Larger teams often come with communication breakdowns. Sales and marketing are like two sides of a canoe: they need to row in sync to make progress. If not, you’ll find yourself spinning in circles, with lost leads and missed opportunities.
Soaring consistently is the key
Demand generation for midmarket companies isn’t just about chasing quick wins; it’s about creating a consistent, scalable process that supports your growth into an enterprise. Like the steady growth of a tree, it’s the daily watering, consistent nurturing, and attention to detail that pays off in the long run. With a structured plan, aligned teams, and the right technology, your company can flourish. The takeaway? Scaling your demand generation efforts is a journey—stick to your plan, and your business will grow to reach the enterprise level in time. Just remember, every mighty oak was once a small sapling! Watch out for the final blog in the series- Enterprise Demand Generation Playbook.