Your software lead generation tools may be simple but that simplicity could be all you need to see if you are going for a monopoly and assess it as good or bad news for your software firm. Monopolies have always existed in the world of business. Their role in history has been a mixed demonstration of both corporate greed as well as the human capacity to offer something unique. Lead generation is your means of sifting through that mix.
How To Use Lead Generation To Foresee A Monopoly
The most popular understanding of a monopoly is that it comprises of one business being the sole supplier of a particular resource or service. A lead generation strategy within a monopoly has little to no reason to fear competition in such cases. On the other hand, it will deal with the negative connotations that monopolies tend to bring.
So how can you use your lead generation tools to foresee a monopoly and how do you know if that is a good or bad thing?
- 1. How much do you market your uniqueness? – Again, the biggest indicator of a monopoly is that you have the highly unique position of being the only supplier of a particular product or service (say in this case, a different form of distributing enterprise information). How often does your lead generation campaign cite this position and is it really the primary reason for generating many B2B leads, like ERP software leads or medical software leads?
- 2. How much do people depend and need your product? – Is your product a big hit? Do your salespeople have long lines of appointments set up? Before you declare success for lead generation campaign, see if people truly understand the need you are trying to fulfill. Furthermore, know that monopolies turn bad when they start using dependence as a means to raise prices and lock customers in.
- 3. How well do you treat possible competition? – Do not fool yourself into thinking it is easy to keep your lead generation strategies fair. When you dominate a market and your marketing has ways to keep buyers on to you for poor reasons, you are indeed abusing your appeal. Learn to admit disadvantages in your products that you simply cannot deal with but your competitor can.
No matter how benevolent a monopoly can be, it will always run the risk of growing tyrannical from all the influence it wields. The simple messages you are getting in your software lead generation campaign could be the starting signs that you need to look at what your business is doing. Do not wait until higher authorities realize you have gone out of control with your control and help your critics break your monopoly.
To be fair, a monopolistic position can be good in the early days of a business when attention is sparse and your lead generation strategy is need of more exposure. You generate sales leads quickly at first but as you start to dominate, take time to use your lead generation tools to identify signs of a bad monopoly growing!