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Working Miracles With Lead Nurturing

Posted on October 8, 2010 by Jennifer B in Conversion Rate, Email Marketing, Lead Nurturing

I was just talking to a salesguy today about an amazing miracle he worked with a presumed-dead lead. The sales team had more or less written it off as dead by mid-2009, and the lead pretty much fell off the radar after that. But in early 2010 (almost a year after “dying”), this same lead was put on a nurturing track wherein a drip campaign sent out periodic emails about new product features and improvements.

It was the email update about a new CRM integration that caught this lead’s attention. This new feature solved one of her major pain points and was exactly what she had been waiting for! She clicked on the company’s pricing page, and the salesguy reengaged her and gave her the information she needed. He ended up closing a lucrative deal not long after that.

This is a prime example of how marketing automation can help you work miracles with your own dead leads. Lead nurturing reminds old prospects that your company still exists, and sending periodic updates on product development and features can be the spark that rekindles a relationship that your sales team might’ve otherwise left for dead.

Revive those dead leads with strategic use of lead nurturing! For example, a specially targeted drip email campaign that focuses on new features might be just what you need to hook disengaged prospects back into the buying cycle. You never know what sort of miracles you can work until you stop letting missed opportunities fall through the cracks.

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Using LinkedIn Like a Lead Generation Pro

Posted on October 5, 2010 by Laura Horton in Social Media

A lot of companies are working on a social media strategy as an element of their marketing mix. Over on the BrainRider blog, Scott Armstrong gives tips on how B2B marketers can optimize their LinkedIn profiles to generate new business.

Scott gives eight simple tips to creating the leanest, meanest, most effective LinkedIn profile out there:

Complete your profile. This means including a picture, a complete description of your expertise and even using keywords just as you would on your corporate website.
Customize your website listings. Include links to your company, your blog and other online outlets. Personalize the links with your company name, rather than the default “My Company.”
Utilize recommendations. This is another way to gather customer testimonials and spread the word. Plus, it’s good karma.
Connect with prospects. LinkedIn is the new business card. It is a form of lead nurturing – and can lead to others finding you as well.
Join groups. Participate in the conversation. Don’t just toss out sales pitches.
Take advantage of key applications to link up your materials across various sites.
Refine your company page. Treat it as a mini homepage and make sure it accurately reflects your value proposition.
Promote yourself. Include your LinkedIn page in your email signature. Make it easy to be found.

Some of these steps are on-going, like making an effort to connect with prospects you meet, but you can check off most of this list in about 15 minutes. Remember, your LinkedIn profile is a public reflection of you as a professional as well as your company as a whole. Don’t miss out on this simple and free way to build brand awareness.

BrainRider also provides a complimentary guide to LinkedIn for marketers with more in-depth information on optimizing your profile.

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You Say Po-TAY-to, I Say Po-TAH-to

Posted on September 10, 2010 by Jennifer B in Marketing Strategy, Sales

Every company has its own way of saying things–this is part of what makes an organization unique. B2B marketing and sales is no exception. Sales reps use sales slang, while marketing teams speak in buzzwords and industry lingo. But what happens when not everybody’s on the same page with the terms they use?

You might think this kind of thing doesn’t matter. What’s in a name, really? Isn’t it best to let individual teams keep their own distinct identities by using their native terminology? Demanding and enforcing uniformity is just splitting hairs, right?

Wrong.

Insisting on the adoption of a standardized vocabulary for your company’s respective teams lays a foundation for coordinated successes. Semantic disconnect can create confusion and frustration, causing your teams to waste valuable time and energy dealing with siloed information and processes that don’t sync. Avoid this trap by ensuring that everyone’s on the same page with regard to vocabulary and concepts. Here are some of the kinds of things you might want to think about:

What specific characteristics define each stage of the sales cycle?
What makes a lead warm? When does a lead become a prospect?
Which criteria must be met before a prospect can move to the next stage of the sales cycle?
At what point can an opportunity be created? What must happen first?
Booked deals vs. recognized revenue: What’s the difference, and how does it affect the different participants in the process?
What branding elements and official terminology (e.g., official product name(s), standard acronyms and abbreviations, etc.) must be used consistently by all employees across all departments?

Reaching a common ground is crucial to maintaining efficient business operations, so make sure that standardizing your company’s terms and processes is at the top of your list of must-dos.

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Components of an Inbound Marketing Campaign

Posted on September 3, 2010 by Laura Horton in Conversion Rate, ROI, Social Media

Sales used to be all about cold calling from a list and large-scale events like trade shows. Today, many marketers are moving toward a strategy that relies heavily on inbound marketing. While the old tactics are tried and true, collecting leads through inbound channels means the prospects are already interested and warmed up to the idea of your product or and how it can solve a problem they are experiencing.

The idea of inbound marketing is that prospects seek you out, rather than you pushing information out to them. Some ways to get started with inbound marketing include:

Blogging – Creating a blog that not only discusses your product, but also discuss best practices and key trends in the industry is a great way to build keyword-rich content. This content can then be discovered by new potential customers through search engines or through links from other popular industry blogs. You can also share your posts through your social media channels.

Social Media – Having an active Twitter account, Facebook page, LinkedIn Group or online community are all great ways to provide valuable information that can attract future clients. You can start building a relationship with your followers before you even enter the sales process.

Paid Search – Paid search is a bit of a compromise between the old and new ways of marketing. You’re still paying for an ad, much like you may have in a magazine or trade publication in the past, but the prospect only sees your ad when it corresponds to a term they are researching. Because you’re delivering highly relevant solutions to what they seek, paid search very often provides great ROI.

The key to inbound marketing is developing highly relevant, interesting content that keeps readers coming back for more. Positioning yourself as a leader in your space will ensure that your company is top-of-mind when prospects are ready to enter the buying phase.

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Sell the Problem, Then the Solution

Posted on August 27, 2010 by Jennifer B in Conversion Rate, Lead Nurturing

As always, marketing guru Seth Godin shared some interesting food for thought on his blog yesterday: Sell problems first, then solutions.

In order to sell someone a solution (e.g., your product), that person must first believe that there is a problem in need of solving. If your prospect doesn’t think they have a problem, then they’re not going to take kindly to you peddling your solution, no matter how personable and skilled at sales you might be. But does that mean you should give up and only target cranky prospects who openly complain? Of course not. Godin points out that the fundamental trick of marketing is to be able to convince prospects that they’ve got a problem. Then–voilà!–you can (miraculously) follow up with a helpful solution. It’s a far more effective strategy than cold calling skeptics to sell them what they’re likely to dismiss as snake oil.

A brilliant example of the problem-centric marketing strategy that Godin talks about are those home security system ads on TV. These commercials present average people at home doing average things, like making an afternoon snack for their kid or getting ready for a first date. Everything seems safe and serene–until an unwanted intruder breaks in to the sound of shattering glass and their victim’s terrified shrieks, all undercut by the wailing alarm. Who would’ve ever thought that throwing a whimsical candle-studded get-together with some friends could lead to immediate post-party stalking by that pushy guy A.J. (who you thought was an awesome catch but is really just mentally unstable)? OK, so we know we’ve got a problem (A.J.), but what’s the solution? When you see that victim pick up a ringing phone to hear the reassuring voice of her call center protector promising to send help right away, the solution becomes clear: Gotta have that alarm system!

This commercial is compelling because it makes me aware of a problem I didn’t even know I had (Yipes! I’m really at risk for a home invasion and didn’t even know it!) and then gets me scared enough to pay attention to what an informed consumer should do about it (Better get an alarm system installed, pronto!). The truth is that the odds are probably million to one that somebody’s actually going to break into my house while I’m on the treadmill rocking out to my ipod, but…better safe than sorry, right? Fear is a powerful motivator that often overrides logic, and these commercials are effective precisely because they are so alarmist (pun somewhat intended).

B2B marketers can adapt this same model to suit their own purposes, ála Godin’s suggestion. Surprise a prospect by showing them how much money they’re losing each month, and then demonstrate how your product can help them streamline budgets and boost efficiency. Start off by telling another prospect how many potential leads are slipping through the cracks undetected every day, and then persuade them that your lead generation tool will close this loophole for once and for all. If you have case studies or hard statistics to back up your argument (rather than manufactured fear), you’ll present an even more powerful and convincing case.

Godin closes with an observation that’s worded so flawlessly that I have to quote it directly:

When a prospect comes to the table and says, ‘we have a problem,’ then you’re both on the same side of the table when it comes time to solve it. On the other hand, if they’re at the table because you’re persistent or charming, the only problem they have is, ‘how do I get out of here.’

If your prospect isn’t aware of the problem you’re trying to solve, point out how they might be affected, and then show them your solution. Here’s your problem, and here’s how we can help you solve it. Brilliant.

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Buzz is Great…But What Does It All Mean?

Posted on August 11, 2010 by Jennifer B in Analytics/Reporting, Social Media

A few posts back, we examined whether Facebook fans have any real value. Naturally, fans aren’t worthless, but determining just how much value they have from a marketing perspective can be tricky. Ciarán Norris takes a stab at this $64,000 question in his column Let’s Get Social. Norris reports on a recent event called MeasurementCamp and leaves us with some valuable takeaways on how to use key performance indicators (KPIs) to make sense of the buzz generated through social media.

Noise is the total amount of social buzz about a brand or company. This includes every mention of that brand, no matter how trivial, along with all relevant conversations. Facebook Fans comprise part of this noise, as do followers on Twitter. Noise might encompass a lot of (nearly) meaningless fluff, but there is some real value to be found amongst the chaff. Noise serves as an important baseline for measuring future marketing activities.
Sentiment combines human context with automated analysis of data. Because computer algorithms can only go so far in making sense of buzz, it is crucial that the data also be considered from a human perspective. For example, a strictly automated data analysis of a Twitter conversation would likely interpret as positive a string of tweets about “how great Brand X is” — totally missing the sarcasm that the actual participants all understood as an insult. Applying this human context is crucial if you want to get meaningful results from your analysis of social buzz.
Topics allow us to classify and organize what would otherwise be an endless stream of thousands of conversations. Categorizing conversations by topic makes it much easier to make sense of social buzz. People might be talking about your product, but are they raving about new features or complaining about shortfalls? Knowing these sorts of details can give entirely new meaning to what might have previously been an amorphous social media mess. Topically sorted conversations also provide a window into what popular search terms might be.
Where are these conversations taking place? If the social buzz is coming from a wide range of people carrying on discussions in a very broad forum, you know you’ve done something right. Conversely, if buzz seems to be concentrated among niche groups, you might want to consider more targeted marketing based on these groups.
Who is talking about you? One tweet from an industry expert or a mention on a well-known blog is worth many thousands of conversations between low-profile spectators with no real influence.

This last point is precisely where the answer as to the true value of Facebook fans and Twitter followers lies: Exactly who are your fans and followers, and how much influence do they wield?

Just something to think about.

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6 Ways to Make a Sale Without Being Sales-y

Posted on August 2, 2010 by Jennifer B in Email Marketing, Lead Nurturing

There’s no bigger turnoff than dealing with a salesperson who seems desperate to make quota. Similarly, generic email blasts and marketing communications can alienate leads who could potentially become good customers. So how do you make inroads with prospects without coming off as obsessed with making a sale? Here are six suggestions:

Share an article. Passing along helpful information is beneficial on two fronts: it empowers your prospect, and it makes you seem knowledgeable. When you share a relevant informational article, your prospect is that much more likely to turn to you, their well-informed friend, when they’re ready to make a buying decision.
Send a gift. There’s nothing that will make a prospect’s day more than getting a little “just because” token. Gifts shouldn’t come off as bribes-in-disguise, so make sure they’re relevant. If you know they’re an avid coffee drinker, send them a Starbucks gift card. After a promising demo, supplement it by mailing them a copy of an informative book about your industry or field. Offering free trials or webinars are also ways to shower prospects with perks that will likely influence their buying decision in your favor.
Be a good listener. Sales and marketing folks are used to doing all or most of the talking. Sales reps use scripts and rehearsed spiels, while marketing people are fluent in keywords and branding-speak. But your prospects don’t want to be talked at. They want to be able to communicate with you on a basic level and in a two-way exchange. Keep it conversational and make sure you’re doing at least as much listening as talking.
Anticipate needs. This is one of the most valuable lessons I learned during my short stint in the restaurant business: Providing excellent service depends on anticipating your customer’s needs and responding accordingly. You can create opportunities where none existed by anticipating a need that the prospect didn’t even know they had.
Solve problems. Solving problems goes hand in hand with anticipating needs (above). When you know a prospect’s pain points or anticipate their needs, be ready with a solution. Nobody wants to focus solely on problems and complaints. Try presenting solutions in your prospect communications, and you’ll likely be surprised with how responsive your audience becomes.
Give advice. Sound advice dispensed freely by an industry expert can really win over skeptical prospects. Be that expert and offer up your honest professional advice to fence-sitters. The worst that can happen is that you don’t close the sale in the end, although you could have arrived at that outcome anyway. Not only will you maintain your integrity, but you’ll also greatly improve the chances that the prospect will turn to you for solutions in the future. The far more likely scenario is that giving out advice will boost your credibility and build trust with prospects, which will ultimately translate to more closed sales at the end of the day.

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Social Capital: Enhancing Lead Nurturing with Social Media

Posted on July 9, 2010 by Jennifer B in CRM, Lead Nurturing, Social Media

There’s endless buzz these days about social media and how it’s going to change the course of marketing as we know it. B2B marketers are scrambling to keep up with this trend by mastering the intricacies of social media outlets such as Twitter, Facebook, and LinkedIn. There’s no question that these applications can be powerful tools for marketers who want to spread their message to potential customers. But consider social media from a different perspective. What sort of value can marketers get from these tools when using them to craft relevant messaging that will optimize their lead nurturing efforts?

As it turns out, social media outlets offer a wealth of valuable prospect data that’s there for the taking. Social media profiles typically contain obvious items that you might already have in your prospect records, such as job title and company name. Oftentimes you can see past distinctions, employment history, and other information that marketers typically find helpful. But don’t dismiss the rest of that profile data as unimportant. You can still get plenty of value out of it! Knowing more about your prospects can only make things easier for your marketing and sales teams. Small tidbits such as knowing a prospect’s alma mater, favorite sports team, or weekend hobbies can help establish and build the kind of friendly rapport and ongoing relationships that lead nurturing requires in today’s extended sales cycle.

Since you’re making use of what is essentially freely available public information, you shouldn’t feel like a virtual stalker for collecting prospect data in this way. But there is a very fine line between tailoring your message to appeal to prospects and making them feel like you’re some creepy marketer watching their every move. Put yourself in your prospect’s shoes. Even though they’ve made this information public, it would still intimidating for your prospects to be contacted by some eerily omniscient salesperson with a zenlike ability to somehow sense their every like and dislike. So make sure that your team knows how to use this valuable information appropriately.

Here are some examples of how a salesperson might use, and abuse, prospect data collected through social media channels.

Example 1: Who’s the Boss?

Prospect X is a huge Bruce Springsteen fan, as evidenced by the virtual shrine on his Facebook page.

Appropriate – While engaging in the usual sales call banter, your sales rep might casually work in something like, “Yeah, I’m dragging a little bit today…stayed out too late at the Springsteen show last night.” If the prospect doesn’t bite and keeps quiet about their love for The Boss, the rep can assume that they’ll probably need to make a stronger connection with this prospect in order to be effective.
Inappropriate – Sending Prospect X an unsolicited copy of the latest Bruce Springsteen album comes off as overly personal, which can backfire: “Hey! Did you get that Springsteen CD I sent you out of the blue? You’re a big fan, right? How do I know that? Well, uhh…doesn’t everyone love The Boss?”

Example 2: Trick or Tweet?

Prospect Y has been tweeting increasingly often about her dissatisfaction with your competitor.

Appropriate – Knowing full well that Prospect Y is unhappy with the competitor’s product, your salesperson could ask casually, “So…is your current solution meeting your needs?” If Prospect Y responds as expected, it is an open invitation to explain what you have to offer and highlight why your product is more suitable.
Inappropriate – The salesperson cuts right to the chase with something like, “I see on Twitter that you’re using our competitor. Clearly you need a change.” This will not only weird out the prospect, but the sales rep’s presumptuous tone will likely be a big turnoff.

Example 3: The Missing Link?

Prospect Z’s LinkedIn profile lists an undergraduate degree obtained at ABC University.

Appropriate – Once they’ve gotten Prospect Z talking about college football, your salesperson can mention, “My favorite team is the ABC University Sharks.” An engaged prospect should perk up and mention that they went to school there, thereby establishing that all-important connection your sales rep is looking for.
Inappropriate - The salesperson makes a clumsy attempt at forging a connection, saying “You went to school at ABC University, didn’t you? I’m not sure, but I think my cousin went there.” Attempts like this will only fall flat with your prospect, perhaps even raising the red flag that someone’s been doing a little too much snooping on LinkedIn.

Social media is power. Use it wisely.

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