We’re seeing more and more uncertainty in our conversations with marketing leaders about lead generation. Typically it starts with a question: “What do you think about lead generation?”. Our instant response is “Why do you ask?”.
The reasons are typically that they see a decline in how form-fill-centered lead generation performs. Some see a decline in quantity or quality. Some see a decline in both.
Based on these conversations, we have started to believe that traditional, form-based lead generation is coming to an end. We’ve put the potential decline of lead gen right in the threat category of our SWOT analysis earlier this year.
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After the initial conversation, we typically ask them what they’d really prefer to do to maximise the impact. Most of them admit they would stop all form-based activities. Or, at least make more content openly available.
They, as consumers, don’t fill out forms as much. They say they would focus on building awareness, educating customers, and influencing their decisions that way. So “basic” full-funnel demand creation or generation.
For years, the complex B2B world relied on “form fills” and leads as a number one value metric to prove marketing value. The whole value communication pyramid—from MQLs to SQLs and, finally, influenced revenue—is built on the simple idea that a form submission is a tangible business outcome from marketing.
The B2B buyer keeps changing. When lead generation was the new norm and the whole inbound movement started (2010–2015), our oldest bunch of Gen Z were getting their driver's license.
Today they make a growing number of the decision makers. And they are less willing to trade their email for a basic resource like an ebook or a brochure. They don't have to! Any AI tool they use can instantly get that basic information for them.
And of course, marketing strategies have adapted. Any industry event will have that no-form or direct-to-consume content track. We have seen it work through case studies and in B2C and more transactional B2B. While many of you know the focus should shift to awareness building, educating, and influencing, we face a severe contradiction:
• What you know works: Non-attributed content and educating
• What you trained your stakeholders to measure: Leads, pipeline, and attributed revenue.
If you take the lead out of the equation, marketing is easily stuck trying to defend "vanity metrics" like clicks, visitors, and followers. Those are hard to explain in a management team or use to defend a budget or raise an investment. See also our latest video series based on the webinar here on how to build C-level trust.
If the lead is no longer the definitive unit of marketing value, how do we proactively show value and construct a new value pyramid for complex B2B marketing?
Marketing needs to decide exactly what business outcome it wants to influence. And you need to answer the hard question of when marketing succeeds, what in the business improves.
Anonymised example of how to tie marketing to business.
Instead of promising a pipeline of SQLs, marketing leaders need to focus on building understanding and trust in the very mechanism they want to create value.
It changes the marketing leader's role to build trust and consensus that the things you, as marketing, are accountable for will impact your business outcomes. And the whole attribution model is more towards “probabilistic attribution”. Shared understanding that what you are accountable for will impact your outcomes, even if you can't track a single lead in isolation. And your value is not in a cause-relation, but more in terms of correlation.
The question is no longer how to prove your impact, but how you will build trust, alignment, and belief in your stakeholders in the short term that what we are accountable for is valuable. And then, in the long term track the impact on actual business outcomes.
Would you be able to communicate value if lead generation, as we now know, were gone?
Would you believe that you would get better results focusing on long-term awareness, education and engagement, rather than short-term lead gen?
What would need to change for you to make the change?
To help you communicate value that builds C-level trust, we have developed the Mavenfirst IMPACT model™, which we've used in our recent client engagements.
In the latest webinar session, we shared our learnings and practical tips on how you can shift your focus more from reporting and proving the value to building trust. Take a look at the materials here.