Go-To-Market Strategies that Deliver ROI for RegTechs (Part 3)

Here is the final installment of go-to-market strategies that deliver ROI. Here is what we've covered so far in parts 1 and 2:

• Creating a go-to-market strategy
• Who your RegTech Serves
• Product Market Fit
• How Many RegTech Buyers are Really Out There?
• Purchase Journey to Sales Cycle
• Tactic Buyers that Resonate with RegTech Buyers
• ROI and your Pipeline
• Facts and Figures
• Tactics that work

Part 3

Demand Generation

Demand generation encompasses:

• Calling people directly on the telephone: 92% of buying decisions are made over the phone, or over a virtual meeting even today according to research from HubSpot.
• Email: 79% of B2B decision-makers list email as the most effective channel for lead generation targeting – unsurprising considering that lead nurturing emails generate 4-10 times the response rate compared to standalone email blasts.
• Direct mail: less popular these days but still a legitimate tactic.
• Advertising: above and below the line.
• Social media: 63% of marketers say their top channel for generating leads is social media platforms.
• Events

The choice of channels is important, but the key consideration should always be the results and ROI.

Internal versus external demand generation

If your company does demand generation internally, it’s worth having clear lines of responsibility. Is it in sales or marketing’s remit? Do sales do calls and emails, while marketing does the rest – or is it some other mix? ?Or does marketing look after lead nurturing up until a certain point (when the lead becomes ‘marketing qualified’), no matter the channel – until they pass the prospective customer over to sales?

If you’re doing your outreach in-house, make sure the data you use is cleansed, relevant, compliant and current. We would strongly recommend against buying lists – they may not be up to date, and it’s a waste of budget if half the contacts have moved jobs. Have your data team thoroughly research who’s who in your target market – LinkedIn is an obvious source of job title data.

If you outsource your demand generation then set clear, bespoke KPIs with your agency. Demand generation agencies specialise in getting results for sales teams – ?make sure they’re the results that matter for your sales team.

Breaking into ‘Most wanted’ lists – many sales teams have target lists (accounts that you just cannot break into – perhaps they already use a competitor but you know your product will serve them better). Share these lists with the lead generation company you’re using and agree on a KPI around them.

A note on lead quality

Whether you do demand generation internally or externally, it’s important to agree what a quality, qualified lead looks like.

If lead generation is done internally, agree on what a marketing qualified lead (MQL) looks like, then agree at what point MQLs become sales qualified leads and are passed to the sales team for nurturing. This ensures you’re focusing efforts on leads that are most likely to convert.

If demand generation is outsourced, make sure your agency understands what criteria a lead must fulfil before setting an appointment- ensure you’re both crystal clear on what a qualified appointment looks like. If you’re working with a generalist demand generation agency rather than a specialist RegTech agency, make sure they understand who RegTech decision makers usually are and what job titles they typically have.

By shifting the emphasis onto lead quality instead of lead quantity, you’re likely to increase your conversion rates and may even shorten your sales cycle. For example, Gungho Marketing’s average opportunity rating is always above 43% – a figure derived from the fact we focus on high quality lead generation, rather than volume.

Conclusion: a checklist for success

Ultimately there are many routes to market but not all will be as profitable or as effective. As a quick recap, your Go-To-Market strategy should include:

• A crystal clear understanding of your product and who it serves
• A strong product-market fit
• A deep understanding of the pain points of your audience (and their influencers)
• Mapping your customer journey to your sales cycle – remember to include real data from real journeys to discover ‘moments that matter’ in the buying cycle
• Tactics that resonate with RegTech buyers and their stakeholders. Human-to-human connection is highly valued by this audience.

How do we know all of this?

Since 2007, Gungho Marketing has served the global RegTech industry by generating demand for their products. In that time we’ve:

• Built a proprietary database of 600,000 RegTech buyers in 50 jurisdictions, adding 12,000 new contacts per month;
• Created more than $1BN in pipeline for our clients
• Set an average of 14,000 sales appointments per year
• Supported campaigns in many languages
• Helped hundreds of clients break into new markets
• Acted as consultants and extensions of clients’ sales teams
• Delivered significant ROI

If your sales team would benefit from our expertise, get in touch.

Serving the RegTech industry is all we do.

Schedule a call with one of our experts