In companies, the difference between generated leads and lead conversions is sometimes enormous, even where digital sales is the norm. But why is traditional lead buying not enough? And how can companies improve their lead conversion? The solution is a business enabling platform. In this whitepaper, we show you what a business enabling platform is and how digital sales can be strengthened with it. You can download the whitepaper for free in the article.
Digital sales are commonplace in the software industry. The industry is ahead when it comes to digitalization in marketing and sales. And yet software manufacturers face a challenge: many leads end up falling by the wayside, leaving untapped revenue potential. This is because the search for the right leads differs little from one software manufacturer to another in most go-to-market strategies.
Usually, those include trade show appearances, more or less regular blog posts and online campaigns that flush the leads into the in-house CRM, which are then qualified by pre-sales managers. But how can software vendors and other companies break this chain and achieve higher lead conversion? The solution lies in a Business Enabling Platform, such as marketingandtech.com has developed and optimized over the past five years together with partners from the software industry.
In our whitepaper, we go into detail about the structure of a Business Enabling Platform, or BEP for short:
- What is a Business Enabling Platform and what function does it perform in practice?
- What are the basic requirements for a BEP?
- What operational options do companies have?
- How is a BEP integrated and what should companies look out for?
- What are the costs of a Business Enabling Platform?
Download Whitepaper “Digital Sales with a Business Enabling Platform”
Definition of Business Enabling Platform
Business enabling platforms are still far from being standard in companies – although they can effectively help to increase lead conversion in digital sales. But what does a BEP actually consist of and how does it work?
A BEP consists of a TechStack as well as a content layer and a process layer. These three core components generate leads and lead them in a multi-stage process to initiate business. In addition to the technical components, such as the customer relationship management (CRM) system, automation tools and a content management system (CMS), the BEP team is also crucial. It is responsible for the business enabling platform and, in addition to industry expertise, must also have skills in content production and marketing automation.
How a Business Enabling Platform works
A BEP is simply presented to the outside world with a content platform, for example as a blog or digital magazine. A characteristic feature of a business enabling platform is that various contents are only available via download forms. Thus, the BEP generates initial lead data such as name, company affiliation, position in the company, industry, interests and contact data. A digital sales department collects this data in a DSGVO-compliant manner via double opt-in and stores it in the lead database.
The BEP team then takes care of the generated leads and further enriches the data depending on the case. Afterwards, the further process steps are automated. For example, the leads automatically receive additional relevant content on the topic about which the initial lead data was generated. The goal of this additional content is to develop the company into a thought leader for the topic. The ideal case: in the end, curiosity is aroused in the lead and the personal exchange takes place.
Marketing manager Sam is looking for a CRM system for his company that can better manage the customer data of his fast-growing clientele. He finds a CRM software comparison and downloads it via a download form. The author of the comparison then sends Sam an e-mail recommending other suitable articles on the subject of CRM – such as tips on CRM selection. At the same time, the author of the CRM comparison links the contact person at the CRM manufacturer with Sam in his e-mail. The latter takes over the communication and enriches the correspondence with further information.
Instead of a cold acquisition, which is still the rule for the most part, the process steps within a BEP result in a warm acquisition. The lead conversion potential therefore increases significantly.
Digital sales with a BEP – what companies should look out for
In order for digital sales to properly benefit from the use of a Business Enabling Platform, several basic requirements must be met:
- A solid content strategy is in place: It decides what content a company wants to publish. The BEP re-engineers the existing content for the respective target group. The content must of course be produced and also continuously maintained. Various tools and systems such as SEO analytics and listening systems help with this. The content should serve all stages of the customer journey – from awareness to consideration.
- The right TechStack: The BEP relies on different tools and systems to implement all processes smoothly. These definitely include a CRM, a CMS, and automation tools. These systems are fundamental to a BEP.
- Customization processes within the company: “Simply” setting up a BEP will not lead to the wished results. It requires adaptation processes and a number of analyses in advance – especially with regard to the systems used, but also with regard to competencies, resources and existing processes.
Companies can build a business enabling platform for digital sales in different ways. The costs for a BEP also differ. You can find out which operating options companies have and what the costs for a BEP are made up of, among other things, in our whitepaper, which you can download at the top of the article.
It doesn’t matter if you’re a software vendor or any other company: Lead conversion presents challenges for many, as traditional lead buying is rarely enough to attract new customers. In our experience, digital sales can significantly increase lead conversion with a business enabling platform. At marketingandtech.com, each sales colleague uses their own BEP to conduct 15 to 20 calls per week, which are booked by prospects into their calendars. Cold calling? That’s a thing of the past.