Developing new B2B ideas for generating leads is a key to growing your business quickly. It's also a key to maintaining it long-term. It's a great way to rech your customers.
But it's not the only way to reach your customers. Nor is it always the best way. Sometimes, the best way to generate leads not inquiries is to revitalize an old idea. Advancing an old idea can pump new life into it and boost its effectiveness.
This post provides tips how you can advance old ideas and turn them into new ones that boost lead generation and improve marketing performance.
It’s true what they say. Nothing in the business world is original. Take the Moneyball marketing strategy as an example. It boils down to using advanced metrics to predict how likely customers are to become leads and how likely they are to actually convert. This strategy generated all sorts of useful information. For example, it's how we came to know that the average business uses 5.4 people to make a decision.
But when the Moneyball strategy first surfaced, it was hailed as new and revolutionary—an idea that would change the industry forever. A closer look reveals there is nothing new or revoltionary about it. In fact, using numbers to make marketing predictions, which is at the heart of the Moneyball strategy, is an old idea.
People were using numbers to try to predict how likely it was that someone would become a paying customer long before the moneyball strategy surfaced. The numbers they were using, however, weren't as accurate or as plentiful as they are now. The difference today is that technology has become more effective in generating numbers, so now there are more and better metrics to take into account.
Something completely original never happens.
Everything Needs a Solid Platform
Another reason why you will never see a new idea come completely out of nothing is because everything needs a solid platform. When you're solving a problem, you need to take a look at what’s on the market to solve that problem now. That's how you know what you need to do in order to produce something better.
Furthermore, everything you use to create something new is an existing tool built on another platform. You're not going to create something entirely new that has never been done before because even the tools you're using are not entirely original.
New Strategies, New Ideas
Sellers that want to master the art of persuasion need to be open to new strategies and new ideas. But actually coming up with these ideas is a different issue entirely. Knowing that new ideas come from previous ones should give you a clue as to what you can do to take old ideas and turn them into new ones.
To start, examine what’s currently available. Then compare it to the current problems experienced by your niche. Presumably, there will be gaps in the current way of doing things. Consider how you can fill those gaps.
Create a Skunkworks
Every smart company should have a skunkworks in place. A skunkworks is a term used to describe the arm of a company that allows for total experimentation. This arm is given a budget that doesn’t ruin the company’s cash flow and the innovators within the skunkworks are free to use it as they please. It’s about shooting for the moon, and its why some corporations tend to be both major innovators and embracers of the status quo.
Create a skunkworks for yourself and dedicate some resources to it. This will ensure that you are always on the cutting edge of things and that you are constantly staying ahead of your competitors.
Never Settle for the Status Quo
Not all companies are coming up with new ideas. Many of them are content to allow others to do the work and become early adopters. This can work. Early adopters tend to be way ahead of everyone else, so they can reap the benefits faster than most of their competitors.
Unfortunately, most organizations are not like this. The bulk of companies in the business selling world adopt new innovations when early adopters are already thinking about what’s coming next.
There are multiple reasons why successful entrepreneurs should never settle with the status quo:
- You are trading a competitive advantage. The brightest in your trade will always be way ahead of you and there’s nothing you can do about it.
- You’ll lose money.
- Your strike rates won’t be as good as they could be.
- You’re not meeting the needs of your target market. Most innovations are designed to solve problems in a superior manner.
It doesn’t have to cost a lot of money to avoid settling with the status quo. All it requires is constant split testing and a knowledge of what’s going on in your niche. In other words, keep your eyes open.
How will you innovate today?