In marketing, there exists a universal law which governs the interactions between consumers and producers – the law of supply and demand. Why do products exist? Because there is a need for them by everyday consumers. Why do businesses exist? Because there is an apparent need and someone had the bright idea to become a provider of a solution for that specific need. This can apply to all companies, especially those within the IT industry. As such, understanding lead generation also involves understanding the basic economic rule of supply and demand.
Back in the day, man had nothing but the skin on his back… and probably a club to whack things with. Nonetheless, our ingenuity kicked in and we developed tools to help us get through everyday life – just like how we “accidentally” discovered fire. And slowly, over the many millenniums that humankind has survived on our planet, we have become far more technologically advanced and now have a booming IT industry. And how did this come to be? All advancements in information technology were created because there was a need for it.
So when IT and tech companies want to see an increase in their sales, they need to understand that the law of supply and demand governs how effective their IT sales lead generation campaign is going to be. Why do these types of companies exist in the first place? The answer is because there is a need for them.
Understanding how supply and demand influences lead generation for IT sales leads is quite simple. Here are a few tips to help you out with that:
What drives IT sales lead generation?
Demand is what drives your lead generation and marketing campaign. In order to be able to generate the IT services leads, like web hosting leads or cloud computing leads, your company needs, you need to be able to understand what the market is currently in need of. What are people after? What type of services do other businesses need? Once you understand the demand in the market then you will be able to craft your marketing message to help drive lead generation.
What hinders IT sales lead generation?
Supply is what can potentially hinder you from making more sales and getting more leads. When there is a lot of competition in the market, we can say that there is a large “supply” of the type of IT products and services that is being offered. And as we know, branding matters in marketing – your potential customers will most likely choose more well-known brands over what you offer them.
No matter how you approach lead generation, be it appointment setting, B2B telemarketing or email marketing, etc, your success will depend on the law of supply and demand. Understanding this law and applying it to your marketing campaign will help your IT company create better marketing offers as well as craft more effective lead generation tactics.