The B2B Lead » Direct Marketing

Targeting the Right Decision Makers Makes All The Difference!

Bob Riazzi — Thu, 18 Mar 2010 14:59:01 +0000

We practice what we preach and recommend you practice it too! You need to build a profile of common denominators or qualifying criteria for companies in your target market “sweet spot.” The next step is to identify your decision making unit (DMU). The DMU consists of everyone involved in the buying decision of your product or service.

Start by building a profile that clearly identifies the different buyers you want to target in the DMU. Don’t be satisfied with just their titles. As we know, sometimes titles can be misleading. In fact, traditional title-based lists deliver a response rate that’s usually less than 3%. Determine the actual role that your contacts play in the buying cycle and in the organization. Backed by this functional, role-based information, you’ll be able to refine your data augmentation program and standardize data collection requirements for more targeted marketing programs.

Next, pull a list of pre-existing contacts that correspond to your target accounts. With this list in hand, begin the process of de-duping, identifying missing fields such as addresses or contact details, and identifying gaps such as key buyers, roles and other relevant details.

After this process, you begin to get a better feel for what you have and what you need.

You should also make sure that you’re marketing to the entire DMU. As we know, B2B purchases are typically made by a group of people, each one with different concerns and requirements. DMU members can include end users, business managers, finance specialist, technology specialists, senior management, key influencers, procurement specialists, and so forth.

The number of people in a DMU can vary greatly according to the size of the company. Marketing Sherpa reports the following statistics for purchases of $25,000 or more:

Companies with 100 to 500 employees ― 6.8 people in the DMU
Companies with 501 to 1000 employees, 13.5 people in the DMU
Companies with over 1000 employees ― 21 people in DMU

By connecting with the entire DMU before the prospect moves into the sales funnel, you can accelerate the sales cycle and increase your chances of conversions.

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Targeting the Right Companies

Bob Riazzi — Tue, 16 Mar 2010 14:55:47 +0000

To accurately target the right companies in your in-house database, first use what you already have ― your CRM data and your website visitor logs

With your CRM data –

Profile your top-performing market segments. Where are you winning?
Identify your best target markets. What kinds of deals close the fastest?
Determine key qualifying company characteristics and buyer roles.

With your website visitor logs –

Look for visitor patterns. For example, do you see any companies from your key markets or vertical industries that you haven’t already targeted?
Are companies visiting that are already currently in your database? If so, are you recording these page visits?
Your online marketing and PPC advertising is driving lookers, so track these visitors as well. Just because they don’t announce themselves doesn’t mean they aren’t potential leads.

This analysis will help you determine where to find your target market “sweet spot.” You should also follow these other steps as you find the right targets.

Mark all records that are included in your current target market. You don’t necessarily want to delete the data you aren’t using, but you need the ability to pull your target market data easily. It may be as simple as a field for industry or industry segment or as complex as a series of tags that indicate parcels within your target market.

As you fill in gaps and build out contact data for new roles, consider other segmenting options. Maybe segmenting based on employee size isn’t the way to go, can you use annual revenue as an indicator of opportunity size or maybe geography if you are targeting for a site specific event. Do this while you’re updating as well. This will help you better target your message at these prospects.

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Understanding the Problem of Dirty Data

Bob Riazzi — Thu, 11 Mar 2010 16:24:46 +0000

Dirty data costs companies billions every year in wasted resources and lost productivity. This is true whether the data is purchased, gathered via download offers or stored in a company’s internal database.

This problem is driven by several factors. Today’s mobile workforce is changing jobs faster than ever before. According to Gartner, 30 million of the 138 million workers in the US will switch jobs in the next 12 months. Now add that to the number of businesses that move or get acquired every month. It’s easy to see how they dirty data piles up and piles up fast.

To make matters even worse, feeding dirty contact data into a marketing automation or CRM system has a multiplier effect. This can quickly derail success by:

Delivering multiple wrong messages to the wrong person or persons.
Annoying customers and prospects with redundant messages.
Losing credibility due to botched attempts at personalized communications.
Failing to leverage multi-modal marketing capabilities.
Misinterpreting campaign success metrics.
Creating sales inefficiencies.

So how can a company address this problem? It’s not easy. Most marketers are overwhelmed by hundreds of thousands of duplicate entries, old data, inaccurate contact details and countless records in different states of completion. This existing data has likely been gathered by many different individuals over multiple years.

The best way to start cleaning data is by targeting the right companies, along with the decision makers who actually determine the buying process. Develop a profile of what your ideal customer would look like, working from there you should be able to weed out less-than ideal candidates or at least give some kind of prioritization to companies in your database.

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Move your Sales and Marketing Database Out of the Slow Lane

Lauren Kincke — Thu, 04 Mar 2010 16:46:53 +0000

Aberdeen recently released a great report on leveraging customer data to better serve your marketing efforts. Here are some of the take-away points we thought were worth sharing:

If your database is in the slow lane:

Start by using data for activities that will have a positive impact on revenue. Demonstrate the value of your data to justify investment in its ongoing health.
Develop timelines and processes for cleaning your data. The importance of good data hygiene can’t be understated. If you clean it once and walk away it will get dirty again. Only constant attention will yield golden results.
Invest in tools to help analyze customer data. Data analysis and marketing automation technologies will help you improve the effectiveness of your marketing campaigns.

If your database is already on the right path but needs a boost to hit the fast lane:

Implement a formal data hygiene strategy. Create repeatable processes for de-duping, cleaning, and appending data as well as documenting best practices for users of your data.
Engage multiple departments for data analysis. Encourage collaboration between your sales, marketing, customer service, IT, and finance organizations.

Democratize all customer data. Centralize your database to measure and optimize the performance of your multichannel campaigns.

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Don’t talk to the ghosts of businesses past…

Lauren Kincke — Tue, 02 Mar 2010 16:46:06 +0000

Circuit City, Bank One, Enron, Lehman Brothers…these are folks you might be shocked to find still sitting in your sales and marketing databases. What’s the common theme among all of these companies? They aren’t doing business anymore. Some of them have made very splashy exits from the scene (ehhem Enron??) and some have quietly been forgotten as acquisitions from a few years back (Bank One). Search around and you may just find them in your target lists.

As a rule, no salesperson or marketing team wants to waste time trying to talk to companies that are out of business. It only makes good sense to weed those companies (and affected contacts) out. But how do you know who they are? Aggregating data from all the M& A activity, bankruptcies and shut-downs these days can be time-consuming. In face, it can become a full-time job. Why not seek out some proactive solutions to keep these types of situations out of your database? Besides some shameless self-promotion here (yes, ReachForce has a solution for this), one of our best suggestions is to empower your teams to mark this kind of information in your database. That way you can weed them out as they come up. For a salesforce.com-specific tip on how to set up this weed-out process, check out a few of our past posts, Updating Lead Status in SFDC for Better Marketing Data and Cleaning Up Your Marketing Database

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Outbound Marketing to Your Inbound Marketing Activity; Leverage!

Suaad Sait — Wed, 11 Nov 2009 16:03:25 +0000

Inbound Marketing seems to be all the hype these days. B2B marketers are getting their feet wet with new social media tactics, online marketing is bigger than it’s ever been and word-of-mouth strategies are being built into most marketing plans today. But what are you doing with all of this inbound activity on your web site and leads from registrations?

Are you adding them to your next email program? Are you including them in your newsletter list? Are you inviting them to your next webinar or live event? Is your sales or tele-sales team following up with them via phone or email? Chances are pretty high you’re using these inbound leads to fuel your outbound marketing programs.

What about all those web site visits? Do you know what companies are visiting your web site? What pages are they on? How long are they there? Should you develop a Outbound Marketing program to reach and target the right person in those companies?

With the explosion of marketing automation, B2B Marketers now have the tools they need to better segment, target and reach these inbound leads with tailored messaging via Outbound Marketing. But it’s not as simple as just loading these inbound leads up and hitting the send button. To get the results you’re looking for you have to be more deliberate about your outreach.

We all know that in any typical B2B sale there is more than one person involved in a buying decision. An inbound lead is a good sign someone is interested but chances are high they are collecting information for a team to evaluate.

Instead of waiting on the entire decision making unit to announce themselves, identify the roles you know to typically be involved in the decision and kick up your Outbound Marketing with messages tailored to each of their pain points. This can only help your marketing results and conversions and getting everyone to the table at the same time also speeds up typical sales cycles.

While Inbound Marketing may be all the rage, you need a targeted Outbound Marketing program to reach all of the decision makers. So as you are getting ready for 2010, make sure you have set up your Inbound Marketing to fuel your Outbound Marketing programs.

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Content Ideas for B2B Lead Generation – B2B Marketing and Sales Tip #265

Amy Hawthorne — Tue, 20 Oct 2009 14:00:17 +0000

We know all know Content is King in B2B Marketing. We use it for blogging, email campaign offers, sales support, website content, whitepapers/eBooks, social media teasers and webinars. In a recent study by Kingfish Media they found that over 70% of marketers are using custom content to communicate with current customers and 70% use custom media to attract prospects.

We also know that it takes multiple touches to convert a lead into a prospect so using the right kinds of content in the right marketing vehicles is key.

We just recently got back from the MarketingSherpa B2B event where I sat in on a presentation by Bob Johnson from IDG Connect. He presented some really interesting stats on using content for lead generation. One that really stood out – “Prospects that engage in 2 touch points are 25% more likely to be in a buying cycle.” This is huge!

Knowing that content is so important (and so often used), you’ve got to stay fresh. Here are a few ideas to help get started on creating new enticing content to engage your prospects.

Everyone loves lists, consider creating one of these –

Compile the top blog posts on a specific industry topic (related to what you are promoting)
Promote five blogs in your industry (be sure to let them know, you want to make sure they know you are out there too)
Create lists of your own; things like Top 10 things to consider when choosing a XYZ solution or Top 5 things to avoid when implementing XYZ service (give your prospects a helpful tip and chances are higher that they remember you next time you reach out)
Create a list of interesting industry stats

Get people to act, try one of these –

Start a contest and ask for submissions
Create a survey and commit to sharing the results with everyone that participates
Start a discussion in your LinkedIn groups. (Relevance is very important here.)
Ask a question on Twitter and blog the answers

Think TIPs, everyone is interested in information that will help them –

Explain industry terms for either the novice or the industry veteran
Review a recent trade show or conference
Interview industry leaders asking the tough questions and share their responses.

Remember you can repurpose all of your content. Here at ReachForce we take our blog tips like this one and roll them into eBooks. These tip-based eBooks are our most popular pieces of content and for us, writing them in bite size pieces (blog posts) makes the task of creating a new eBook a breeze.

We also use these blog posts for our monthly newsletter, it’s a compilation of our best posts from the previous month. The newsletter typically gets about a 40% open rate. It takes us no time to put together and it’s a crowd favorite.

Got any other content ideas, please jump in and share.

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Marketing Effectiveness: Marketing Execution Assessment

Suaad Sait — Wed, 14 Oct 2009 14:00:50 +0000

The success of any business endeavor is dependent on one thing; execution. Even the best marketing strategy will fail if the organization is incapable of executing. In the context of marketing effectiveness, execution has to do with the tactics and processes an organization utilizes to market a product or service. With limited resources and finite budget, marketers need to make sure that all marketing activities are both influencing and driving demand. While it’s critical to have access to a robust centralized marketing database, the database is of little value unless marketers use the data to increase revenue.

In order to improve marketing effectiveness, marketers need to start using the data to build more intimate relationships with prospects and customers. Research proves that mass untargeted email blasts yield an average 1-2% conversion rate.

The following questions will help determine steps your organization can take to improve marketing execution. Remember to check out the marketing automation category for more about marketing automation vendors that can help you here.

Read each question and write down the appropriate points based on an honest assessment of the current state of your marketing operations.

Do you have clearly defined segments and targets?

Yes- Award yourself 2 points if you currently customize marketing campaigns for unique segments of prospects/customers
Yes, but we could do a better job- Award yourself 1 point if you segment your database, but you feel you could do a better job creating customized marketing messages for these segments
No- Award yourself 0 points if you do not currently segment or target unique segments of prospects/customers

Do you currently use any personalization in outbound marketing campaigns? Award points for each applicable answer then add up all the points at the bottom (this question could award a total of 21 points)

Mass Email (1 Point): _______

Segmentation and Targeting (2 Points): _______

Personalized- Name in Salutation (4 Points): _______

Personalized- Using other database criteria: purchase date, product purchased, etc.

(6 Points): _______

Event Triggered- Marketing interactions are triggered by customer behavior (8 Points): _______

Total Points:_________ (Enter in b.)

Do you have one or more lead nurturing campaigns that are designed to educate potential buyers that are not yet ready to make a purchase?

Yes- Award yourself 2 points if you have exclusive marketing campaigns designed to nurture and educate prospects
No- Award yourself 0 points if you do not use lead nurturing

Do you know which marketing channels result in (or influence) the highest number of leads?

Yes- Award yourself 2 points
No- 0 points

Can you name 3 companies that visited your website this week?

Yes- Award yourself 2 points
No- 0 points

Final Score

a._____+ b._____+ c._____+ d._____ +e._____ = ______

How did you score?

With the right tools and processes in place, marketing execution can be quick and painless. Without those tools and processes, it can be painful and yield poor results, possible causing you or your programs to get the ax.

0-6 Points: You don’t quite have the hang of it - A final score between 0 and 6 indicates you could increase marketing effectiveness considerably by increasing the use of personalized email campaigns or even basic segmentation of your marketing database. Consider lead nurturing campaigns to increase the number of sales-ready leads that are passed on to sales.
7-18 Points: You’re getting there, keep on hacking away - A final score between 7 and18 indicates you are using a moderate level of personalization or segmentation and probably achieve average conversion rates on outbound campaigns. Consider tracking prospect performance across multiple channels (the web, email, landing pages, keywords, etc.) By tracking prospect behavior you can more accurately predict propensity to purchase and relevant materials that will have the biggest impact on driving revenue. Automation can help deliver highly relevant marketing interactions that are triggered by prospect behavior. This increases the likelihood of delivering the right message to the right prospect at the right time.
19-29 Points: You’re killing it - A final score between 19 and 29 points indicates your taking full advantage of your marketing database to build more intimate, relevant, personalized relationships with prospects and customers. The question is, are you measuring performance over time to constantly improve marketing execution?

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My Email is Not Junk! – B2B Marketing and Sales Tip #257

Leigh Anne Reynolds — Tue, 01 Sep 2009 15:41:55 +0000

We all work long and hard on our email marketing. Crafting the perfect attention getting subject line, choosing just the right images, editing and re-editing concise and relevant content. After all that hard work, no one wants their email to get caught up in a SPAM filter or relegated to the Junk folder. Many of our recipients are using Microsoft Outlook. In case you haven’t checked it out before, here is what Micosoft says about the filter that pushes your email to the cyber graveyard known as the Junk folder.

The Junk Content filter works by looking for key words. This file is a description of exactly which words the filter looks for and where the filter looks for them:

First 8 characters of From are digits
Subject contains “advertisement”
Body contains “money back ”
Body contains “cards accepted”
Body contains “removal instructions”
Body contains “extra income”
Subject contains “!” AND Subject contains “$”
Subject contains “!” AND Subject contains “free”
Body contains “,000″ AND Body contains “!!” AND Body contains “$”
Body contains “Dear friend”
Body contains “for free?”
Body contains “for free!”
Body contains “Guarantee” AND (Body contains “satisfaction” OR Body contains “absolute”)
Body contains “more info ” AND Body contains “visit ” AND Body contains “$”
Body contains “SPECIAL PROMOTION”
Body contains “one-time mail”
Subject contains “$$”
Body contains ”
Body contains “order today”
Body contains “order now!”
Body contains “money-back guarantee”
Body contains “100% satisfied”
To contains “friend@”
To contains “public@”
To contains “success@”
From contains “sales@”
From contains “success.”
From contains “success@”
From contains “mail@”
From contains “@public”
From contains “@savvy”
From contains “profits@”
From contains “hello@”
Body contains ” mlm”
Body contains “@mlm”
Body contains “///////////////”
Body contains “check or money order”

Be sure to check out this list before you hit send on your next campaign.

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Tips To Improve Your Lead Management Strategy

Amy Hawthorne — Wed, 05 Aug 2009 16:34:09 +0000

Over the last couple of weeks we’ve been highlighting some of the most well known Marketing Automation players out there. This week we’re profiling MarketBright. Thanks again to Caitlin and Mike Pilcher for the previous blog post.

So now that you’ve read about and studied up on each, what’s next? Just getting the right technology in place isn’t going to solve all of your headaches.

MarketBright’s whitepaper, Tips To Improve Your Lead Management Strategy, has some great ideas on creating and building out your lead generation strategy.

Here’s a few things that caught my eye…

When getting started here’s a few things to think about:

Who has ownership of each stage of the process?
Is there a defined lead management flow that exists today?
What essential performance indicators or ROI measures are associated at key points throughout the process?

Just like taking a road trip, best practice says you should have a map before you take off.

Lead Generation/Acquisition – the following elements are absolutely necessary to provide QUALITY leads:

Have you agreed with your sales team on what a qualified lead looks like? Any of these sound familiar?
Clearly define and know your target market. An effective lead generation process always begins and ends with knowing the audience.
Use effective lead generation tools.
Optimize landing pages and forms. Be clear on the action you want your audience to take and focus the content on just that action.
Use accurate and reliable campaign metrics for tracking, reporting and testing. This keeps everyone involved in the process honest .

Remember – the secret with any lead management system is to maximize the efficiency but not lose the impact of a personal customer experience. I think this is a great point! As we continue to use automation to be more effective and efficient we have to remember that people buy from people.

Thanks again to MarketBright for contributing this week. Now go download this whitepaper to ensure you are set up for success.

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