In the world of B2B measurement, demo requests have long been considered as the B2B marketing KPI. However, the reality is that demo requests are an inefficient metric that often fails to accurately reflect the effectiveness of digital marketing campaigns. In this blog post, we will explore why demo requests are an inefficient key metric for digital B2B marketing. And why explanatory videos to showcase your product are a much better option for generating interest in the upper funnel. We will also discuss why offering a freemium offer without requiring contact with a sales rep is an effective strategy for shortening the sales cycle.
The Role of Different DMUs and effectiveness
One of the key reasons why demo requests are an inefficient B2B marketing KPI is that they fail to take into account the different roles played by various decision-making units (DMUs) within a B2B organization. In most B2B sales cycles, multiple people are involved in the decision-making process. Also each of these individuals has a different role to play. For example, a project manager may be responsible for identifying potential vendors. But a CFO may have the final say in the purchasing decision. The problem with demo requests is that they are typically generated by a single person who may not be the decision-maker. Therefore, making it difficult to accurately gauge the level of interest among the entire DMU.
Explanatory Videos Generate More Interest
Another issue with demo requests is that they require a significant investment of time and effort on the part of the prospect. In many cases, prospects are not yet ready to invest that level of effort into learning about a new product or service. Explanatory videos, on the other hand, are a much more efficient way to generate interest in the upper funnel. These videos provide a quick and easy way for prospects to learn about a product or service, without requiring them to commit to a demo.
In addition to being more efficient, explanatory videos are also more effective at generating interest in the upper funnel. Studies have shown that video content is more engaging than written content. They also can be used to effectively communicate complex ideas and features in a way that is easy to understand.
Freemium Offers Help Shorten the Sales Cycle
Finally, offering a freemium offer without requiring contact with a sales rep is an effective strategy. By offering a freemium version of your product or service, you give prospects the opportunity to try before they buy. Without having to commit to a demo or engage with a sales rep. This approach is particularly effective in the early stages of the sales cycle. Especially, when prospects are still gathering information and evaluating their options.
Moreover, the freemium approach helps build trust with prospects by demonstrating your confidence in your product or service. By offering a free version of your product, you are essentially saying: “We believe in our product so much that we’re willing to let you try it for free.” This can help build trust and credibility with prospects, which is essential in the B2B sales cycle.
B2B marketing KPI’s: it’s about revenue
At the end of the day, C-level is only interested in revenue. Therefore, demo requests are an inefficient key metric for digital B2B marketing. Explanatory videos and freemium offers are much better options for generating interest in the upper funnel. Also innovative ways to measure customer experience are relevant to discover.
Demo requests may still be useful in some cases. But they should not be the sole focus of your digital marketing efforts. Instead, focus on creating engaging video content and offering a free version of your product or service. By doing so, you can generate more interest in your product or service and build trust with prospects. Ultimately, you shorten the sales cycle.