The B2B Lead

Archive for November, 2008



25 B2B Marketing and Sales Tips we are most Thankful for this year

We are very thankful for the past year and all of the successes we have had at ReachForce and on The B2B Lead.  We are most thankful for you, our smart, marketing-loving readers.  Today, we wanted to share with you 25 of the best posts from this year in case you might have missed them or just need a refresher.  Have a Happy Thanksgiving!



Thursday, November 27th, 2008

 

Twitter Turns down $500 Million from Facebook – Marketing WTF?

on November 25th, 2008

Written by guest blogger, Jason Morio, VP of Products at ReachForce

Twitter apparently turned down Facebook’s offer to buy them for $500 million (reportedly $100 million in cash and $400 million in Facebook stock).  What is Twitter up to that makes them think they can actually turn this down?  There is apparently a secret revenue model they will be announcing next year.  What does that mean for B2B Marketers?  Will Twitter have advertising now?

While this story still appears to be somewhat speculative, when it comes to things of this nature, where there’s smoke, there’s usually fire.  The brazen audacity shown by Twitter in declining this offer is mind-boggling.  In a time where less than 1 in 50 VC-backed startups ever sees an IPO and down-round term sheets are the norm, one can only wonder:  how much is enough?  According to GigaOM, Twitter has taken down a little over $20M in funding thus far.  When will the next 25X-multiple-on-money-in surface?  The halls of VC-backed startupdom are littered with the corpses of past offers of this magnitude that were turned down, only to result in eventual liquidations at fractional values (anyone remember Pointcast?).



Tuesday, November 25th, 2008

 

Looking for a Marketing Bailout? – B2B Marketing and Sales Tip #175

First the insurance companies, then the banks, and now the automotive industry…
Feeling like YOU need a bailout, a marketing bailout?

Get 30Days of FREE ReachForce Insight, and get Customer Wins Analysis and Sales Pipeline Analysis.  With this FREE Trial you’ll be able to:

  • Get a snapshot of your target market “sweet spot”
  • Highlight new customer wins with the shortest sales cycles
  • Identify how many more companies have similar profiles to your winning market segment
  • Understand patterns within opportunities in the active sales pipeline
  • Focus lead generation initiatives on industries that are driving the most revenue

At ReachForce, we know that targeting the right people in the right companies drives results in good times and bad.  By targeting the right buyers in the right companies for your product or service you are guaranteed to increase marketing ROI and accelerate sales cycles.  To help ease the pain of budget cuts and program changes, we put together a bailout program for B2B Marketers to help you better target the reminder of your budget and programs.

Still wanting more?  We understand.  We all do.  So in addition to getting a Free wins analysis…

Get a 30Day Trial of ReachForce Convert and start turning your unknown website visitors into actionable marketing leads.  With this 30Day Trial you’ll be able to:

  • apply custom business rules to score web visitors (leads) based on their activity
  • identify how many more companies have similar profiles to your unknown visitors
  • profile top visitors by industry and appends these records with industry verticals, SIC codes, revenue and employee size

By combining your wins analysis and unknown website visitor reports you’ll have a better understanding of where you should be targeting your lead generation efforts.  Targeted lead generation ensures you are getting the most of your marketing programs and your budget.

And, it’s all FREE, why wouldn’t you want to know.



Monday, November 24th, 2008

 

Customer Experience Index Scoring – Part 3 – B2B Marketing and Sales Tip #174

In my last two posts (#1) (#2) a discussion about Customer Experience Indexing (CEI) as a way to measure, plan and act on both emotional (loyal) and quantifiable (satisfied) customer feedback is underway. Many thanks go out to those who have offered feedback and questions so far. Keep them coming!

We’ve just started working our way down a list of six (I’ve adjusted slightly) areas:

  1. Planning
    ->we are here
  2. Optimizing the flow of both loyalty and satisfaction feedback
  3. Analysis of feedback and calculation “CEI scores”
  4. Using the data for short, mid and long term account plans for retention and growth
  5. Using the data to locate new prospects using rule based company profiling and role-based targeting
  6. Using the data to plan and deliver action plans aimed at reshaping customer attitudes and opinions

Last week the importance of having an approved plan and budget was stressed. Don’t start something like this unless the leadership at your company is willing to sign on as sponsor and be directly involved long term. The goal is to have sustainable ways to collect customer feedback, as well as having a formal business process to make sure collected feedback is actionable.

Every good CEI plan needs three basic components operating as pistons in a multi-mode data acquisition engine. Simple is better … so we look at them this way (with a few examples):

  1. Ways to PUSH for customer feedback
    -customer satisfaction survey – SLA report card – quality/value audits
  2. Ways to PULL customer feedback in –
    -customer conference, advisory board, focus group, social media
  3. Ways to REPSOND consistently to customer feedback
    -CRM data integration; adjustments to communication, product, service level, project and account management strategies

Programs such as key account groups and client advisory panels will differ greatly in execution but the goals are the same … create a unified approach to the relationship with a particular customer, no matter how many points of contact there are and bring the right resources to the table at just the right time regardless of whether those customers are buying, implementing, maintaining or planning their future.

As I said last week (#2) a good way to get a CEI plan off the ground is with a simple but effective customer satisfaction survey. Here, response rates are king and the kinds of questions asked are important because this sets the waterline for both satisfaction and loyalty metrics for the entire program going forward.

I’m happy to go into greater detail about optimizing survey response rates –just let me know, but basically the tactics listed under item #7 from last week’s checklist (#2) have always worked very well for the teams I’ve been on. For example, we recently achieved 90% response to the 2008 Customer Satisfaction Survey at ReachForce.

Survey writing is next. Remember to use less than ten questions and keep them pithy. Simple language = good. And as a giver of many surveys, trust me – use multiple choice and/or ‘true or false’ as much as possible. Open ended questions make peoples’ hair hurt.

Two types of questions to think about:

  1. Service fundamentals (quality function, basic expectations)
  2. Advocacy (value, competitive advantage)

‘Service fundamentals’ questions are (logically) where the bulk of your ‘satisfied-type’ metrics will come from. They should be written to solicit quantifiable answers.

Specific example:
“How many times a year do you use service ABC?”

This example locks potential answers down to specific objects and links the all important use-frequency metric that is part of the weighting and scoring stuff we’ll talk about later.

‘Advocacy’ questions are for getting inside the respondents’ head and are often multi-dimension. These are where the bulk of your emotional ‘loyalty-type’ metrics will come from (like Net Promoter). They should be written as an attempt to empathize with the respondent.

Specific example:
“From list below, select the part of your ABC service plan that you DISLIKE most?”
And then for added dimension: “what do you LIKE most?”

In both cases a list of well thought out (and friendly tested) multiple choices will help hone in on what about your relationship is most important and vulnerable to the respondent. People generally ‘like’ (and are loyal to) things that are solving their pain = important to them. They generally ‘dislike’ (and aren’t loyal to) things that miss the expectations mark and force them to find a work-around, or as we say: “leave their pain on the table.”

The same duality is REALLY in play with the “Ultimate” advocacy question = “Would you recommend us to a friend or colleague?” As I was taught as a young dad, “to be really, really sure you have to check their temperature from both ends.” I propose more detail on that, here, next post. Keep the feedback rolling.



Friday, November 21st, 2008

 

Get Found Online – ReachForce Book Club

HubSpot’s ebook, Get Found Online, is right on the money. Today’s marketing is changing from outbound to inbound, and “consumers are going to the Internet to start their purchasing process.” For businesses to remain competitive, their websites need to be found online through search engines, the blogosphere and social media sites.

Luckily, this eBook gives detailed steps on how to be found on each of these inbound marketing techniques. Here is a short outline which should entice you to read the eBook for all the great how to tips (pages 5-9) to get found online.

How to get found on search engines:

  1. Find Keywords – choose keywords that your target market is using
  2. On-Page SEO – place keywords in the page title, URL, headings and page text
  3. Off-Page SEO – build more links
  4. Measure & Analyze

How to get found on blogs:

  1. Read – other industry blogs
  2. Comment – join in on the conversation (even link back to your own blog)
  3. Write – find the right blog software, blog weekly and promote your blog
  4. Measure & Analyze

How to get found on social media:

  1. Guidelines for Engagement – join communities and provide useful information, don’t just sell your company
  2. Publish, Share, and Network – everyone can publish and share anything, everyone can network with anyone (through content placement sites, linking to others an online communities)
  3. Measure & Analysis

I manage all the online media for ReachForce, and found these tips extremely useful. It is really cool to see how many people go to our website from our blog and social media sites. Think of any other useful tips while reading Get Found Online? Please share!

HubSpot is an inbound marketing system that helps your small or medium sized business get found on the Internet by the right prospects and convert more of them into leads and customers.

No book club next week for Thanksgiving (you have an extra week to read)! Look for us on Thursday, December 4th talking about Marketo’s Best Practices in Lead Nurturing…enjoy!



Thursday, November 20th, 2008

 

Marc Benioff, a Used Car Salesman? – Marketing WTF?

Earlier this month, we packed up our little dog and pony show and headed for Dreamforce, salesforce.com’s annual user conference.  If you have never been to Dreamforce, here’s a quick description: the Expo floor is pretty typical, cookie-cutter turnkey booths, lots of logoed button downs and khakis as well as a few who think outside the box (one booth was actually handing out condoms).  Last year we were the wackiest booth on the floor with a Let’s Make Deal theme complete with costumes.  This year, however, this was the first thing every attendee saw when they stepped onto the show floor:

I could not for the life of me figure out why this car was on the show floor and what it had to do with salesforce.com.  Come to find out it all had to do with Neil Young, yes that Neil Young.  He was a speaker at Dreamforce and is a driving force behind LincVolt.  Salesforce.com built a website for LincVolt; you can check it out here.  Apparently the site was built on the Force.com platform (so there is some relevancy) but the weird thing is LincVolt is not actually using it as their website.

The old adage says, “All press is good press,” but I have to say this was not at all targeted.  They did get a lot of attention and even the local news crew covered the event.   But LincVolt’s vision is “to inspire a generation by creating a clean automobile propulsion technology that serves the needs of the 21st Century and delivers performance that is a reflection of the driver’s spirit.”  Will someone tell me what that has to do with salesforce.com?



Wednesday, November 19th, 2008

 

B2B Marketing for $100 – B2B Marketing and Sales Tip #173

As I was working on my FREE list last week I noticed I seemed to also be building a list of things that we as B2B Marketers can do that require minimal cost, like less than $100.

  • StumbleUpon advertising – be very targeted with your ad and your landing page.  Each click only costs  you $.05.  I’ve only heard good stuff about this, we’ll be trying this one immediately.
  • Long Tail PPC keywords – think niche, pick words or phrases people would use to search for your EXACT solution.  The landing page is just as important as your ad.  You’re goal is to convert unknown visitors into known leads.  Remember you can track companies visiting your landing pages using ReachForce Convert.
  • Survey Monkey or Zoomerang – both have free versions or subscription pricing (for more features) of about $20/per month.  Create a survey and use it for lead generation, thought leadership or PR.  People are interested in what their peers think and are doing, share your results with the participants.
  • PRWeb – write a news release and link it up.  Add an offer to the news release or offer additional content on a landing page with the full announcement.
  • Start a blog – you can do this for free but you might consider investing in your own look (vs. stock templates and photos).   Regularly updated content helps your SEO too.
  • Video/Podcast Series – you can add them to your website and use them for lead generation programs.  Get a FLiP camera and set up your YouTube account and you’re ready to go.  Remember to keep your videos and podcasts short and to the point.
  • Email campaign – If you don’t already use an email or marketing automation system, check out VerticalResponse.  Emails start at less than $.02 a piece.

I’m sure my short list is only a beginning of things you can do for about $100, please feel free to add to the list if you’ve got more.



Monday, November 17th, 2008

 

Customer Experience Index Scoring – Part 2 – B2B Marketing and Sales Tip #172

Last week I expressed my thoughts about the differences between “loyal” and “satisfied” customers. I give lots of credit to Net Promoter for the role it has played promoting (sorry for pun) the concept of easy to digest relationship marketing metrics. That said – I personally need more than just an advocacy index to create and tune relationship strategy for my company’s customers.

Customer Experience Indexing is how I measure, plan and act on both emotional (loyal) and quantifiable (satisfied) customer feedback. Starting with item 1 below, my next several posts will open discussion about …

  1. Optimizing the flow of both loyalty and satisfaction feedback
  2. Analysis of feedback and calculation “CEI scores”
  3. Using the data for short, mid and long term account plans for retention and growth
  4. Using the data to locate new prospects using rule based company profiling and role-based targeting
  5. Using the data to plan and deliver action plans aimed at reshaping customer attitudes and opinions

Customer feedback in the consumer marketing world has become an art form. Comparatively, B2B companies seem to lag far behind in having clear, sustainable ways to collect feedback, as well as having formal business process to make sure collected feedback is actionable.

The best way to get started is to make sure your company’s business leaders buy in and get involved. And the best way to make sure this happens is to write up a plan and make sure it gets budgeted. (Warning — Don’t even start a Customer Experience Measurement initiative if you don’t have this support. Without it, you will do more harm than good with your customers — as well as waste a lot of time and effort.)

While there are many variables to this type of planning by company size, type, etc., this blog series will cover quite a few customer feedback channels. The most common of all is the dreaded “annual customer satisfaction survey” (mine come with a few twists), and for a number of reasons it’s the best way to get a Customer Experience Measurement effort successfully off the ground.

To finish off this week’s post here is a checklist for getting your plan started:

  1. Subscribe to an inexpensive online survey tool (a valuable thing you’ll find many uses for).
  2. Figure $60 per customer as a good budget for getting the first year of your plan started (very large customer bases may need smaller scale plan)
  3. Involve everyone with frequent customer facing responsibilities (Account managers, Project managers, etc.), segment your list up and assign “contact ownership” by role, (not just by account).
  4. Meet with company stakeholders to craft role-based, multiple choice questions that need to be asked and answered. (We’ll talk about putting the scoring mechanism in place later). There are two basic types of questions to consider:
    • Service fundamentals (quality function, basic expectations
    • Advocacy (value, competitive advantage)
  5. Test the questions on at least 2 friendly customers and ask them what questions they think you should ask.
  6. Create and review the invitee list with your assigned contact owners. Usually, I like to keep the invitations focused on people you deal with (by role) at accounts that have been active within the past 12-18 months. Make sure email addresses and other contact information are accurate/current and that all contact owners “agree” (important) that inviting them into survey process is viable (formula is alive + working + accessible = invitee).
  7. Clarify objectives, rewards and tactics. I’ve run a few of these initiatives so I tend to aim high.
    • Goals/objectives: If the invitee list is agreed to with the assigned contact owners (step 6), shooting for and achieving 90% response rates within 45 days is highly doable.
    • Rewards: Offer invitees a meaningful reward for taking time to complete the survey. There are many ideas here, but $20* Amazon.com e-gift certificates have always worked wonders for me. Offer the same $20* (per response) reward to the assigned contact owners as a way to motivate them to provide all important follow-up throughout the remainder of the 45 campaign.  *Note that we’ve already used 2/3s of the per customer budget.
    • The following tactics have proven highly successful in maximizing response rates:
      -Don’t ask more than 10 questions
      -Keep questions pithy
      -Avoid soliciting open ended responses as much as possible
      -Schedule email invitations/reminders to avoid heavy traffic
      -Leverage companywide email signature lines with reminders/links
      -Leverage all phone customer phone contact with reminders
      -Include a write up about the survey in your customer newsletter
      -Leverage outbound customer mailing (including billing) with reminders
      -Create fun response rate competition amongst the assigned contact owners
      -Get upper management involved with reminder phone calls, personal emails, etc.

To be continued. Please chime in with your own ideas and thoughts.



Friday, November 14th, 2008

 

Eight Critical Success Factors for Lead Generation – ReachForce Book Club

If you’ve been doing B2B Marketing for any length of time you know who Brian Carroll is.  If you don’t know who he is, you should.  His eBook, Eight Critical Success Factors for Lead Generation, is a must read for “lead generation specialists committed  to the long-term proposition that digging for leads, educating prospects, navigating the nuances of the complex sale and creating new, high-level return on investment is what has brought lead generation to the position it enjoys in the marketing hierarchy today”.

I read this eBook a couple of years ago but I was due a refresher.  While all 8 factors are important to lead generation success, I pulled out a few things we could all benefit from doing or ensuring on a more regular basis.  My summary and highlights by no means replaces reading the eBook.

  • Remember you are creating conversations, not campaigns – “Companies don’t buy, people do.”  With each lead generation initiative we are developing an ongoing relationship with the prospect.  We are educating and providing value with each touch.  Or at least we should be.
  • Be sure you have identified an Ideal Customer Profile before getting started – we’ve talked about personas many times on The B2B Lead. Building out the ideal customer profile makes everyone’s job easier.  Why wouldn’t you do it?
  • Universal Lead Definition – it’s key that both Sales and Marketing agree on this.  “There is consensus that sales functionaries fail to act on nearly 80% of the leads they get, largely because most of the leads aren’t qualified, or because appropriate buyers haven’t been identified and targeted.”
  • Your database – your most valuable marketing asset.  “The properly designed and well-maintained database is the hub of all lead generation activity and communication.”
  • Lead nurturing – we all know it takes multiple touches to turn a contact to a lead and a lead to a real prospect.  “Lead nurturing is not a single marketing campaign, but rather a series of steps and communication tactics with the objective of developing and building a relationship with the potential customer.”  Automation tools make this easier than ever.  No more excuses to not nurturing.

This is only a few highlights from the eBook, now go read it yourself if you haven’t already.  If nothing else, the pictures/diagrams are worth your time.

Brian Carroll, CEO of InTouch, Inc. part of the MECLABS Group that owns MarketingExperiments and MarketingSherpa and author of Lead Generation for the Complex Sale (McGraw-Hill 2006) and the B2B Lead Generation Blog with expertise related to B2B marketing, lead generation and complex sales.

Once you’re done with this one go ahead and download next week’s eBook – HubSpot’s Get Found Online.  We’ll be chatting about it next Thursday here on The B2B Lead.



Thursday, November 13th, 2008

 

FREE B2B Marketing Tools – B2B Marketing and Sales Tip #171

Many B2B Marketers, along with most Americans, are wondering what is going on with our economy.  Now that we have elected a new President, will that help?  How long will this slump last?  How is this going to affect budgets and jobs and new sales opportunities?  While wondering all of the same things and how it will affect ReachForce, I decided to make a list of FREE things that we as Marketers can do in a recession.  Some lead generating tools and some awareness building tactics, but all things you can do at no cost.  Here’s what I came up with, please feel free to help add to the list.

Twitter – free social networking and micro-blogging service that allows its users to send and read other users’ updates (AKA tweets), these text-based posts can contain up to 140 characters.  Feel free to share links to other good content in these micro posts too.
Here’s 10 tips for building a following a Twitter.

Commenting on other industry thought leader’s blog or other blogs related to your business – Get in on the conversation and get your view point out there.

Submit your best practice content to free sites – The content will be indexed by the search engines allowing people to find your article when searching for something related. Some examples are Scribd, Docstoc and WhitePapers.org.

Website Grader – Website Grader is a free seo tool that measures the marketing effectiveness of a website. It provides a score that incorporates things like website traffic, SEO, social popularity and other technical factors. It also provides some basic advice on how the website can be improved from a marketing perspective.

Email signatures – Set up a standard email signature for all company emails and include things like your blog, or events you’re attending or a customer testimonial video.  Easy to do and everyone that gets an email from someone at your company will also get your mini marketing message.

ReachForce Insight Lite -  Do you know your best customers? Can you easily identify your target market sweet spots – markets that you sell the most or the fastest? Are there other business buyers in your sweet spot that you should be targeting with your Marketing campaigns?  Download ReachForce Insight Lite on the Appexchange and see.

Re-purpose content you already have – or create a Top 10 list or a list of Top 5 things to Avoid.  People love lists and you probably already have all of this information at your finger tips.  At ReachForce, we’ve recently turned our best 101 blog posts into an eBook series.  We didn’t have to create anything new, we just pulled the best posts and put them together in an eBook format.  We’re currently using them for lead generation campaigns and getting GREAT results and feedback.  Also, it has increased our daily blog traffic.

LinkedIn – just sign up and start linking up.  LinkedIn is rolling out new applications and group features all the time, take advantage of these free networking tools.
Once you’ve set your profile up, check out LinkedIn Answers.

Facebook – Facebook is somewhat of a new thing for B2B Marketers, here at ReachForce we are still figuring out our strategy but know their endless opportunity out there.  Here’s a few tips on getting started and promoting your business via Facebook.

Google Analytics – why wouldn’t you use this?  Here’s a few more ideas on Tracking Tools.

ReachForce Convert 30 Day Trial – You are probably tracking web site visitors and your best PPC keywords, but are you capturing those visitors and turning them into actionable leads? Only 3% of web visitors fill out a form or announce themselves; what happens to the other 97%? ReachForce Convert, a software-as-a-service application, empowers Marketers to proactively target lead generation efforts at passive web visitors.  Why not try it, it’s free.

Press Release Grader –   “Press Release Grader rates a press release based on a checklist of criteria – from content and structure, to search optimization and link analysis. The free tool is designed to optimize a press release so it can be found more easily by media, bloggers, customers and prospects. Press Release Grader provides an analysis and recommendations that will help you improve the way your press release is structured.” It only takes a second and the recommendations for improvement are typically easy fixes.  Again, why wouldn’t you use this tool?

What FREE stuff are you using out there?  Please share with the rest of us.  Who knows, it could save your fellow Marketer’s job.



Tuesday, November 11th, 2008

 
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