The problem
One of the greatest challenges facing early stage technology companies is building a pipeline of new prospects. Typically thought of as "lead generation," companies tend to consider only traditional targeted advertising or direct marketing to fill their pipeline.

However, this strongly held belief in the success of impersonal promotion does not reflect how people purchase complex solutions. When faced with addressing a considerable need or problem, most people look for the quickest way to ensure all purchasing objectives are met by reaching out to someone they know and trust who can help them solve the problem. Alternatively, they make contact with peers who have faced and successfully solved a similar problem, or build their knowledge through research.

Relationship marketing
The objective, rather than thinking in terms of lead generation, should be getting to know target customers before they are out looking for vendors; building a relationship with target customers based on value, visibility and trust; and becoming their trusted source when they experience a need or problem. As every successful business and salesperson knows, the most effective and efficient way to build a powerful pipeline of prospects and opportunities is to develop a strong network of relationships with the right decision makers and influencers within the target market.

Through relationship marketing, companies build a strong network of clients, prospects and influencers by offering them substantial value: the knowledge and contacts necessary to address their problems and needs, within the context of an ongoing relationship. This is done through inviting targeted decision makers and influencers to join an informal network—or community—of their peers, dedicated to developing insight into the key need that a company addresses. Community comes with an explicit promise of non-solicitation; those who join enjoy a substantive and varied program of learning, knowledge-sharing and relationship-building.

The net result: a rapidly growing group of truly valuable contacts who openly share their problems and needs and to whom you have complete access.

To learn more about the power of relationship marketing, request a complimentary copy of Blue Mine Group's "Relationship Marketing Module: Building a network of clients, prospects and influencers." To discover how relationship marketing fits into an overall growth strategy, preview our new Go-to-Market model.