Selling to the modern day B2B organization can feel a little like trying to navigate a complex maze, and vendors are often left feeling they took the wrong route and hit the proverbial dead end. We know the MQL is dead, that the MQA is the route to higher opportunity conversion rate, but how to decode these anonymous ‘accounts’ to ensure you are optimizing your chances?
Perhaps a good starting point is to invest time up front in getting to grips with the inner workings of the decision-making unit (DMU).
The Death of the MQL: Embrace the DMU Revolution
Once a cornerstone of demand generation strategies, the MQL, as a stand-alone measure, has become an outdated metric that fails to capture the complexity of modern buying processes. As Forrester highlighted some time ago, the shift away from MQLs is driven by the need for a more holistic approach to engaging the entire Decision-Making Unit (DMU).
The MQL model, which focuses on individual leads based on predefined criteria, and wasn’t designed to take advantage of the levels of account qualification available to modern marketing, often overlooks the intricate dynamics of B2B purchasing decisions. In reality, these decisions are rarely made by a single individual. Instead, they involve a group of stakeholders, each with unique roles, priorities, and influence. This is where engaging the DMU becomes crucial.
The DMU often consists of multiple stakeholders, each with differing priorities and influence on purchasing decisions, so it’s crucial for anyone selling to these groups to take the time to learn about these individuals and understand their role in any purchasing decision.
There are obviously tools available - such as LinkedIn - that can help provide such insight and information, but there is simply no substitute for hearing directly from an influencer, the sales team or a decision-maker about their role and priorities in order to gain those critical insights into stakeholder motivations and challenges. However good a company's data collection and lead scoring capability is, without the ability to directly connect with individuals to collect such information about stakeholders influencing buying decisions, opportunities will be missed.
How to engage the DMU
Many demand gen strategies, unfortunately, still focus on generating individual MQLs, which as Forrester has been saying for some time (and most marketers have known anyway) is a flawed approach. No serious enterprise purchase is decided by a single individual.
Forward thinking marketers, however, are considering how they reach all of those who may have a role in a purchase decision. Appealing to a group of decision makers, though, can be challenging, and this is just one of the reasons we’ve combined a number of our demand generation capabilities into a single solution called ‘DemandGen One.’
By navigating the DMU and engaging a range of individuals, the chances of uncovering key stakeholders, identifying deal critical factors and converting an account into a genuine sales opportunity are significantly improved. Something we all know, but don’t always have the strategies on hand to make happen!
Engaging the DMU requires a deep understanding of the organizational structure and knowing how to navigate it to identify, engage, and learn from individual stakeholders, from influencers to decision-makers. This approach not only aligns marketing efforts with the actual buying process but also ensures that messaging resonates with the entire group, not just isolated individuals.
To effectively engage the DMU, marketers must shift their focus from lead volume metrics to account and lead value. This means leveraging data and insights and using content to create personalized engagements that address the specific challenges and goals of each stakeholder. By doing so, marketers can build stronger relationships in their best fit accounts and drive more meaningful interactions that lead to successful conversions.
It isn’t easy though. It’s complicated and requires a well thought through strategy to reach all of those who may have a role in a purchase decision.
If you’d like to see the death of individual MQLs in your organization and a more holistic DMU approach in its place, please get in touch using the form below!