Movéo believes demand generation can be viewed across a dual funnel that differs with the “sales funnel” of old in four important ways:
First, the funnel should be viewed on its side as a reminder that there is no “force of gravity” bringing customers to your brand — demand must be constantly generated to overcome market inertia.
Second, there are actually two funnels — one for the new customer journey and the other for the existing customer journey. The latter often receives less attention from marketers, even though it costs five times as much to attract a new customer than to keep an existing one.
Third, Movéo’s three drivers of growth — branding, lead generation and customer engagement all play important roles in increasing demand. Note that the first driver — a strong brand — spans the entire journey, prospect to customer. If a brand is “broken,” lead generation and customer engagement will also be hindered.
Lastly, three key operational metrics work together to define demand generation performance. Conversion rates measure program efficiency, velocity identifies the time to move across stages, and volume measures the demand at each stage. Understanding each metric is important because it directly impacts resources.