B2B Lead Blog

A couple of weeks ago, I presented the webinar, “Optimizing the Lead: A data-driven optimization process that goes beyond lead capture.” Lead optimization is the core of revenue optimization – making as much money as possible from your time, energy and resources. We work with our Research Partners to achieve just that.

It’s key to business success, and it’s no wonder this topic produced excellent questions from our webinar audience. I didn’t have time to answer all of them on the webinar, so I’m taking the opportunity here. I find that when one person has the courage to ask a question, many people have the same one but don’t want to ask it because they don’t want to appear uninformed.

Here’s your opportunity to read and learn, without having to put yourself out there.

What does it mean to “enrich data” and “merge/de-dupe”?

When you enrich data, you’re filling in the details about a contact that may be missing.

A customer relationship management system (CRM), or simply an Excel spreadsheet if you can’t afford a CRM, provides a single, central location to store customer information so you can update it easily and ensure accuracy.

It also makes it easy to identify duplicates and merge information – that is literally what is meant by the term “merge/de-dupe.”

Learn more about the importance of data: “B2B Marketing: Building a quality list.”

If someone signs up for a free trial of your product, does that automatically make them a lead?

To answer this question, I need to understand your universal lead definition (ULD) and if this person fits it. If he doesn’t, he’s just an inquiry. You have to qualify where his interest is and measure that against your ULD.

The question I have is: How many people who download your trial actually install it and use it? For example, we worked with a software company to set up a nurturing process to communicate the value proposition on why prospects should install the trial, how to use it and action items to move forward with their evaluation of the software solution.

Find out more about the critical importance of ULDs and how to build one: “Universal Lead Definition: Why 61% of B2B marketers are wasting resources and how they can stop.”

What is a persona?

Picture whom you’re talking to and that is, in essence, your persona. It’s the profile of people who are involved in the buying process — their roles and the questions and issues they’re facing. Defining personas helps you determine what’s relevant to your target markets so you can develop effective nurturing campaigns.

How do I know if I’m nurturing?

Ask yourself, “Is what I’m sharing with my customer valuable to them even if they never buy?”

Learn more about lead nurturing: “Lead Nurturing: Build trust, win more deals by helping prospects – not selling them.”

Is it possible to nurture too much?

Absolutely, if what you’re providing is not relevant to the person to whom you’re sending it. They emotionally unsubscribe, even though they may not bother to do so actively. Pay close attention to whether they’re opening your emails or clicking through to links – those indicate if they really care about what you’re sending them.

Learn more: “5 Lead Nurturing Tips to Create Relevant and Engaging Emails.”

What are the biggest struggles to establishing a lead nurturing program?

Understanding your customer well enough to know what matters most to them, and then identifying the content that addresses it.
Learn how one billion-dollar company went about this process: “How Content Strategy is Transforming an Entire Marketing and Sales Organization.”

How do you make a cold call that’s memorable in the first 30 seconds?

Relevancy is everything. MarketingSherpa has found that 92% of B2B buyers are open to cold calls if the salesperson is relevant. Prospects want to know the following:

• What’s in it for me or someone in my company?
• Does this person/solution/organization align with my priorities?
• Do they get it? Do they understand how I work?
• Have they looked at my company? Do they understand our priorities and challenges?

So conduct your pre-call due diligence:

• Learn as much as you can about the prospect and his company.
• Find out how your organization’s value proposition aligns to their needs. (Learn more about effective value propositions in this article: “Value Proposition: 3 worksheets to help you craft, express and create derivative value props.”)
• Tie your research and your value proposition together succinctly to create a valid business reason to call.
• Test messaging to identify the approach that works best.

Can lead nurturing work without sales management buying in?

No, because the ultimate purpose is to help the sales team sell; this requires complete alignment between sales and marketing goals. Find out real-world reasons why sales management buy-in is so critical in this article: “How ECI Telecom Discovered the Surefire Sign that Sales and Marketing Are Aligned.”

Do we have to make a follow-up call after every email send?

You position the follow-up call, or human touch, based on how people are interacting with your content. Did they click on the link? Did they consequently download or review additional information? Did they do this in sequence or throughout the course of several months?
All of this information determines their readiness for a phone call, and you can measure readiness through lead scoring.

However, if you see someone is not engaging with what you’re sending them, you may want to figure out why. We made a phone call to an inquiry who was not opening any of the content we were sending him. It turns out he said he was a network administrator on a Web form. In reality, he was the chief technology officer, and was being sent the wrong content! When we started sending him executive-level content, as opposed to technical, he ended up buying a few months later.

How do you develop a lead scoring process?

1. Start with your ULD to know exactly when an inquiry becomes a lead and is ready to be turned over to Sales.
2. Understand the must-haves Sales requires before engaging a lead. They could include:
   • The size of the company – for instance, it must have at least 100 employees and $20 million in revenue.
   • The title or role of the inquiry – he must be a manager or higher who influences the buying decision for example.
   • A trigger event – for instance, they’re expanding into a new region.
3. Analyze current customers:
   • Track their path to making a purchase.
   • Examine what content they consumed along the way. Do you see any patterns? Did every one of them download certain documents or regularly attend webinars?
4. Weigh all of these qualities and actions with a number, and analyze them to determine which sequence adds up to a sum that will likely point to a sale.

Learn more about lead scoring: “Lead Scoring: How to pick the right ingredients for high ROI.”

If you want to learn more, watch the webinar replay: “Optimizing the Lead: A data-driven optimization process.” And, if you have any additional questions, please feel free to post them in the comments.

Lead Management

In his most recent post, Dave Green pointed out how marketers invest most of their budget on trade shows even though it ranks fourth in effectiveness. He went on to explain how to get a better return on your trade-show investment through lead scoring.

Now I’m going to share nine tactics that will drive those lead scores – and your ROI – even higher:

Do thorough research. Find out which attendees fit your Universal Lead Definition. If you have access to the registration list, analyze it. Look up registrants on LinkedIn. Develop a list of targets you want to seek out during the event. Research the sponsors, too. They should all be on the event website. There may be ways to join forces with them to reach your audience.

Leverage social media before, during and after the event. Connect with attendees and build your profile before the event through your blog and updates on Twitter and LinkedIn. Tweet relevant content during the event. Invite customer feedback afterward. There’s so much more than can be addressed in this post, so I advise looking online for more great ideas.

Creatively partner with event organizers. If you’re holding an educational or social event, brainstorm with them to see how they can help you attract more and better attendees. This could be everything from sending pre-event emails to including information in registration packages. Negotiate support before signing contracts to minimize costs and maximize opportunity.

Get involved with the event. Don’t just be a statue at a booth. Try to attend a few sessions, switch off with your team members to sit with attendees at lunch and engage on a personal level. It will help you build relationships and you will be able to strike up more relevant conversations if you just sat through the same keynote. Best of all, the conference will be more fun and you’ll learn a lot more.

Provide value, not trinkets. People attend events to gain knowledge and share it with their teams. Time is always tight as they try to take care of work back at the office while absorbing as much information as they can. That’s why you must always think about what’s in it for them to engage with your brand. Provide what they really can use: resources to drive their business to the next level – whether that’s a strategic piece of content, a tool or an opportunity to network with their peers.

Focus only on those who have expressed genuine interest. Trade shows often reward people if they visit as many booths as possible. At too many events, I’ve witnessed sales professionals requiring attendees to sit through a 10-minute presentation to “prove” they’ve visited the booth, when the attendees clearly don’t care about their product.

Are they interested? Take note. At minimum, jot your name and notes about their issues on their business card, and assign one person to collect and enter information into your database for follow up. Include the solution they’re interested in, the issue they’re trying to resolve, other contacts they’ve had with your organization, and any qualitative intel that will help the person following up – such as “launching a new website in Q2” or “unhappy with solution X.”

Promptly and professionally follow up. Before the event even begins, be ready to follow up. Prepare a brief, customizable email template to send out immediately afterward. It can come directly from the sales professional who spoke with the prospect, or it could reference the conversation and any key information you were able to capture. If the prospect doesn’t respond, follow up with a thoughtfully scripted phone call where you position yourself as a resource they can turn to when they are ready to talk. Don’t stalk and don’t be pushy, but do be responsive and close the loop. And be absolutely sure that only one person is doing the follow up. (This is why it’s critical to work from a single database.)

Track and measure the results. After the follow-up emails have been sent and calls have been made, note how many are still in your marketing and sales funnels, and how many deals closed. Monitor this throughout the year to determine whether the trade show is worth investing in the next time.

Do you have additional ideas on how to make the most of your tradeshow investments? I’d love to hear about them. Share them in the comments below.

Event Marketing, Lead Generation, Lead Management, Lead Nurturing, Lead Qualification, ROI Measurement, Sales Leads, Social Media

In the 2012 B2B Marketing Benchmark Report, 1,745 marketing organizations revealed that trade shows took up the biggest chunk of their marketing budget – over 21%. Yet, they only ranked fourth in marketing effectiveness, under websites, SEOs, and emails.

I suspect that part of the ROI problem may be due to improper prioritization. Smart marketers apply some type of lead scoring to leads generated from website, SEO, and email initiatives. They need to do the same with trade shows. I recommend ranking trade show leads using the point-system outlined below – the higher the ranking, the hotter the lead.

1. Trade-show registration lists. While useful to build your marketing database for lead nurturing, a trade-show registration list is the least-qualified lead source because some aren’t remotely interested in your solution. In fact, they may not have attended the trade show at all. If the trade show closely aligns with one of your solution offerings, then the quality of these kinds of leads will be better. The more broad based the trade-show appeal, the less aligned it will be with your product/service categories and target market, so the conversion rate will be lower.

2. Those who attend a widely publicized trade-show social event sponsored by your organization. Obviously, such events give you time to engage prospects and customers in a more relaxed atmosphere. At times, however, these social events are so large that many of those in attendance never speak to anyone from your team. If that’s the case, the overall conversion rate of attendees is unlikely to be very high. Still, there’s an indication of awareness and interest in your company.

3. Booth visitors. Make sure their reasons for stopping by aren’t for merely collecting a tchotchke or fulfilling a requirement to win a prize.

4. Those who attend a special public event. Often, marketers will create an event within their booth in which someone presents to a small group. There’s typically one-way communication, not a conversation. Depending on the nature of the presentation, this indicates a relatively early stage in the buying cycle. The buyer enjoys a level of anonymity while gathering information to determine whether the solution warrants a conversation. These attendees generally have a deeper level of engagement than someone who stops by your booth to window shop.

5. Those who attend a learning event. These events can be executive roundtables or seminars held during the trade show. You can specifically target the audience and their attendance indicates significant interest.

6. Those who interact with a team member. This group is obviously more qualified than a booth visitor. The challenge is capturing this information. One way is with radio-frequency identification which tracks visitors’ movement. It can tell who stopped by, where they specifically stopped and for how long.

7. Those who attend a one-on-one meeting. Trade shows can be great places to meet individually with key decision makers in target accounts.

This type of trade-show lead scoring can supplement your larger lead-scoring model that includes information like the title, industry and organization size, or the number of responses from the prospect’s company over time.

Most importantly, it can help you determine, as you sort through the massive amounts of leads that trade shows generate, who is most worthy of your attention.

Image: AAPEX Shows

Event Marketing, Lead Generation, Lead Management, Lead Qualification, Lead Scoring, Sales Leads

I can’t stress this enough: when it comes to marketing, if we’re not constantly learning, we’re going to find ourselves left behind faster than ever.

Some people say I’m an expert in B2B lead generation because I wrote a book on it, but you know what? I am astonished by what I didn’t know then compared to what I know today. This past year has been especially illuminating thanks to the brilliance of smart marketers who are expanding and perfecting the lead-generation concepts I wrote about years ago.

This year’s B2B Lead Roundtable webinars are testament to that.

In February, Paul Teshima, SVP of Product Management at Eloqua, set the tone for the webinar year. He defined the tenets of the new world of marketing in Revenue Performance Management. “We’ve seen a problem now where, even though marketing is doing a great job of generating leads, sales still cannot handle the volume and they slip away,” explains Paul. “Some of the leading companies today are really focusing on this idea of managing and bringing marketing sales together, in a more effective way, now that they’ve solved some of the tactical problems.”

Paul explains how here: The Future of Marketing: The Evolution from Demand Generation to Revenue Performance Management

In March, Michelle Mogelson Levy, Associate Vice President of Global Marketing at ECI Telecom, detailed how she executed an ultra-successful content strategy campaign and how that transformed their entire marketing strategy.

“We had to put ourselves in line with our buyers’ journey so we knew how to engage them at the right level,” she points out. “We had to provide value to our prospects, who have never heard of us before, and position ourselves as a company that understands their marketplace and their business issues – a partner as well as an expert.” Learn more here: How ECI Developed an Entire Content Marketing Program from Concept to Completion and the Surprising Results

In April, John Johnston, eBusiness Marketing Manager for Volvo North America, outlined how he streamlined, integrated and automated lead generation for a marketing program for 20 different heavy construction segments for dealers in 125 countries.

“We took online marketing activities, leveraged their analytics and optimized – measure, take action and repeat. It’s a continuous loop that makes the database and the lead-generation process better and better.”

Watch the webinar to find out how John’s efforts are providing customers and prospects the precise information they need to make a smart purchasing decision, and dealers a much more detailed, useful picture of who they’re selling to. And much of this is happening in real time. Learn more here: How CRM Revolutionized Marketing and Lead Generation at Volvo North America

In May, Brandon Stamschror, Senior Director of Operations for MECLABS Leads Group, and I expounded on the powerful combination of excellent data and the human touch to make the best use of sales time and resources.

According to MarketingSherpa, 80% of marketing leads are lost or discarded because even though someone may have provided basic contact information, they may not be ready to talk to a salesperson. Teleprospecting bridges the gap.

Make sure you’re setting a strong foundation for your campaigns with an accurate list. Brandon revealed the outcomes of a breakthrough experiment that tested how higher cost/high quality lead data affected the cost per lead. The results were astounding – the difference between the best- and worst-performing lists was $581 per lead. Learn more here: Teleprospecting that Drives Sales-Ready Leads and How One Company Slashed Their Cost Per Lead by More than Half

In June, Sergio Balegno, Director of Research, MarketingSherpa/MECLABS Primary Research Group, shared why inbound marketing – a strategy where the prospects find you as opposed to you finding them – is critical, and how integrating social media and SEO drives it.

“Companies with integrated social media and SEO achieve 60% better conversion rates…Search rankings are driven by relevance, relevance enhances an organization’s credibility, and this credibility helps to drive conversion rates,” says Sergio. “It’s an essential ingredient to a B2B marketing program.”

To prove it, Sergio shared five steps that helped an email marketer pull in 70% more leads and doubled revenue in one year. Learn more here: How to Integrate Social Media and SEO to Drive More Leads and Increase Marketing ROI

In July, Dave Elkington, Chairman and CEO of InsideSales.com, revealed how companies are leaking significant revenue in their sales and marketing funnels – knowledge gained through analyzing two billion communications with 80 million customer profiles. He outlined astonishing facts like 43% of companies don’t even respond to inbound leads! But for those that know how to respond, the opportunities to make the sale grow exponentially – 78% of sales goes to companies that respond first, not to the company with the best or cheapest product.

It’s no wonder that Dave points out that venture capital firms want companies in their portfolios to have inside sales departments. “They’ll recruit, train and transplant inside sales teams into their portfolio companies,” he says. For more data that will show you how to speed leads into your sales pipeline, go here: Research from Harvard, MIT Pinpoints Hard Lead Conversion Lessons with Easy Solutions

Find out how:

• Clarifying value proposition helped one company decrease cost-per-acquisition by 66% and multiplied monthly profit four times over
• Re-engaging clients helped one company attain grow its business by 64%
• To quickly and easily choose the best lists
• To time lead-generation activities to attain the highest possible return on investment of resources
• Closed-loop feedback makes sales professionals worship their marketing department

Find out much more here: Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues Part 1 and Part 2

It all came full circle in October, when Jen Doyle, MarketingSherpa Senior Research Manager and Lead Author of the 2012 B2B Marketing Benchmark Report, discussed what more than 1,745 marketing organizations had to say about their lead generation efforts in 2011.

“It’s increasingly challenging for marketers to achieve success, and challenges are growing in pertinence year after year,” she explains. “Perceived effectiveness of tactics is declining severely. It’s getting more difficult to achieve the same results from the same marketing activities.”

She points out, however, that may be due to the fact that marketers still aren’t optimizing their funnels:

• 68% haven’t identified their sales or marketing funnels.
• 61% send leads directly to sales.
• 79% haven’t established lead scoring.
• 65% haven’t nurtured leads.

Learn how to make 2012 a better year here: 2012 B2B Marketing Benchmark Report: How Marketers are Transforming Mounting Pressures, Challenges into Revenues.

We are in the process of planning our 2012 webinar year. What would you like to know more about? What information would help you generate more leads? How can we help you stay on top of lead-generation innovations? Leave a comment below.

B2B Telemarketing, Content Marketing, Inside Sales, Lead Generation, Lead Management, Lead Nurturing, Lead Scoring, Leadership, Marketing Strategy, Social Media, Thought Leadership

SiriusDecisions made a brilliant contribution to B2B marketing several years ago when they created their Demand Waterfall. That “waterfall” is a metaphor for key funnel stages. It seems like everyone I talk to who works in the technology industry, which is an early adopter of marketing innovations, uses the Demand Waterfall framework. The concept is useful for any B2B industry with complex sales.

Part of the beauty of the demand waterfall vernacular is that it added descriptive language to the word “lead.” All too often, sales and marketing have very different definitions of what a “lead” is. With its Demand Waterfall, SiriusDecisions created a common language between sales and marketing by labeling key funnel stages. By benchmarking industry funnel conversion rates, SiriusDecisions provided B2B marketers with a powerful framework for evaluating their own conversion rates from one funnel stage to the next, identifying funnel leakage and best practices, and forecasting results.

The problem with the SiriusDecisions model is one of language. 

 What Does “Marketing-Qualified Lead” Mean to You?

To apply benchmarks to funnel stages, you need an apples-to-apples comparison. The problem is that “marketing-qualified leads” has two distinct meanings. For some marketers, “marketing-qualified” includes telequalification. For others, it doesn’t. In fact, the same marketer might very well route some leads to a telequalification function and other smaller, transactional leads directly to sales. This problem is further compounded because, as revealed in the 2012 B2B Benchmark Report, sometimes sales owns the teleprospecting function and sometimes marketing does.

Obviously, filtering leads through a telequalification process greatly reduces the number of marketing-qualified leads and improves the downstream conversion rates. So what are you really benchmarking? 

That’s why I break “marketing-qualified leads” into two funnel stages: “phone-ready leads” and “sales-ready leads.” 

• Phone-Ready Lead:  Marketing has done whatever it can to suppress duplicates and enhance, score and nurture the lead until the lead is ready for a phone call – that call may come from an inside sales rep or a telequalification professional. 
• Sales-Ready Lead:  The lead has been qualified via a phone conversation. In such cases, the teleprospecting rep has typically confirmed that the person participates in the decision process, has a relevant pain, and wants to talk to a sales person.  In short, the lead is ready for sales engagement.

Lack of clarity around funnel stages will lead to misunderstanding, muddled benchmarks, funnel leakage, and the adoption of sub-optimal practices. Do you think the terms “phone-ready” and “sales-ready lead” are an improvement?  Do you have a suggestion for more precise language? I welcome your feedback and will share additional thoughts in future posts on a new funnel paradigm for the complex sale.

Lead Management, Lead Qualification, Marketing Strategy, Sales, Thought Leadership

I just got back from this year’s round of MarketingSherpa B2B Summits in Boston and San Francisco, where I provided one-on-one coaching to attendees, marketers from Fortune 500 organizations, leading private companies, and emerging businesses. (You can read more about who attended here.)

Frankly, I don’t know who walks away more enlightened – the marketers I was coaching or me. Every year, I receive a personal introduction to the struggles they’re facing every day. And even though the latest MarketingSherpa B2B Marketing Benchmark Report essentially reported that it’s tougher than ever to be a marketer, you really can’t grasp how challenging it is until you’re working one-on-one with someone who is essentially a lone ranger for marketing within a large, complex organization.

Here’s what I learned during my coaching sessions this year: to advance in this economy, the C-suite absolutely must recognize the value of marketers and marketing. As part of that, they must give them the time and resources to set the foundation for best-in-class lead generation efforts. Especially considering that, year after year, attaining the highest quantity and quality of leads consistently remains marketers’ highest priority – just check out the graph at right.

Unfortunately, after too many coaching sessions with marketers who had neither the time nor resources to set strategy, I suspect too many CEOs think that most of what they learned in the marketing 101 course they took decades ago still applies today. The reality is (forgive me for preaching to the choir) is that marketing has been transformed in the past ten, even five, years! In fact, as with most everything these days, change is the only constant and you better keep up, or else. You can thank the cut-throat economy for that.

Revenues are scarce. So smart organizations are scrutinizing how they’re spending every penny of their resources. They want to make sure their highest-compensated sales professionals are spending their time closing the biggest deals they can, not qualifying leads or prospecting. They know that’s marketing must lead the way in ensuring this happens, so they allow their marketing organizations the time and resources to set the foundation to do so effectively and efficiently.

Their CEOs establish the directive for marketing to develop:

• A Universal Lead Definition (ULD) that prioritizes and defines the degree of a lead’s sales readiness, and requires the input and buy-in of both the sales and marketing teams. Learn more about creating ULDs here: Lead Generation Checklist: Universal Lead Definition.

• An Ideal Customer Profile (ICP) that uses the unique attributes of prime customers to prescreen potential opportunities. ICPs identify decision makers and key influencers, and ultimately serve as the basis for defining a sales-ready lead. Learn more about developing an ICP here: Lead Generation Checklist: Ideal Customer Profile.

• Accurate, manageable data that details the contact information of prospects who fit the ULD and ICP. Learn how data can make or break your marketing efforts here: Do You Expect Your Inside Sales Team to Practice Alchemy? And here’s a webinar replay that examines the power of data: Teleprospecting that Drives Sales-Ready Leads.

• A defined marketing and sales funnel that spells out specifically when a lead should be passed along to sales, or sent back to marketing for further nurturing until they are ready to move forward in the buying process. Read more about that here: Four Reasons why Funnels are a Marketer’s Best Friend. Or watch our most recent B2B Lead Roundtable webinar: How Marketers are Transforming Mounting Pressures into Revenue.

• A clear, concise value proposition. Read more here: Why a Value Proposition Makes Marketing Good.

Unfortunately, very few marketers I spoke with in Boston or San Francisco had the executive support to set this foundation for  marketing success. So it became challenging to provide advice that would lead to sustainable, long-term optimization. Nonetheless, we had plenty of “ah-ha” movements. But those quick wins were often centered on strategy designed to circumvent or overcome a flawed foundation. This felt like the equivalent of telling someone what color to paint the walls on a building with a crumbling infrastructure. After all, you can have the perfect messaging, but if that message is going to a list that’s filled with inaccurate data and contacts, or doesn’t include those who are most likely to buy, you’re wasting time, energy and money.

So what did I tell those marketers?

For the most part, I advised them to do what they could with what they have.

• Even without executive support, marketing can document the state of their current lead management process; and they should do so immediately. Without precisely knowing what’s happening with leads right now , marketers can’t identify the greatest bottlenecks or areas for improvement. But they can’t make any assumptions. This mean they need to meet with their sales and marketing leaders, along with their practitioners. Only then will marketers have a clear understand of the current state of affairs. By the way, getting all of the stakeholders together to agree on the issues and prioritize solutions is the perfect start to a funnel optimization process.

• Even without executive support, marketing usually owns the data. They can make sure it’s up to date and free of duplications. They can quarantine new data before it’s entered into the system to ensure its accuracy and make sure they’re valid leads. They can analyze and clean their lists to ensure that messages are targeted to those who are most likely to buy.

• Even without executive support, they can analyze their existing customers to create an ICP.

• Even without executive support, they can build a content library. They don’t need to be great writers; they just have to understand their value proposition and personas, and then repurpose existing content or identify third-party content that fit both. That’s not as overwhelming as starting from scratch.

• Even without executive support, marketing can demonstrate their value to sales through only sending them qualified leads. If marketing delivers a great “product,” sales will want more.

When sales begins noticing that they’re closing more deals faster, they’re going to be eager to collaborate, revenues will grow, and leadership will fully realize the value and power of marketing. After all, businesses that thrive in the new economy will be the ones that give marketing the time and resources to set the strategies upon which successful campaigns are built.

Content Marketing, Lead Generation, Lead Management, Marketing Strategy, Thought Leadership

I am especially looking forward to the next B2B Lead Roundtable webinar. You should be, too, if you’re eager to find out how your peers are responding to today’s marketplace, and how this represents an unprecedented opportunity to drive the highest performance from your marketing efforts.

Jen Doyle, MarketingSherpa Senior Research Manager and Lead Author of the 2012 B2B Marketing Benchmark Report, will reveal key takeaways from this just-released publication, which is based on a survey of marketers from 1,745 B2B organizations.

We weren’t surprised by their responses. However, to call 2011 a tough year is an understatement, to say the least. Respondents admitted that their marketing tactics simply aren’t working like they used to, and reported  as much as a 50% decline in effectiveness for even their most tried-and-true marketing strategies since last year.

However, Jen will reveal how these challenges merely point to abundant opportunity to improve overall marketing strategy. She’ll show you precisely where that opportunity lies by guiding you through a five-step funnel optimization process that will ensure you produce better marketing results next year. I will be joining her, as will Kaci Bower, MarketingSherpa research analyst. Together, the three of us are going to provide takeaways you can begin using now to overcome today’s marketing challenges and set the foundation for higher marketing ROI in 2012.

If you’re eager to transform this year’s pressures into powerful results, watch the webinar replay below.

View Slides on Slideshare

Lead Generation, Lead Management, Lead Nurturing, Marketing Strategy, Webcasts/Webinars

For proven approaches to drive the highest return on the money you’ve invested in marketing and sales this year, watch the replay of the second half of our webinar presentation, “Six Funnel Focal Points to Finish 2011 Strong.”

It’s chock full of immediately actionable advice, emerging from data-driven case studies and science-based research, to help you make the most of the time and money you have remaining in 2011 and begin 2012 on solid ground.

In this webinar, Brian Carroll is joined by Pamela Markey, MECLABS Director of Marketing , and Dave Green, Director of Best Practices. Together, they dug into data from MECLABS clients. They reveal the power of testing and how it can help you be certain that every aspect of lead generation produces the best results.

Learn the fastest, easiest approach to ensure you’re using the best lists. Find out the impressive difference that can make on your bottom line. Discover how one organization timed lead-generation activities to attain the highest possible return on investment of time and resources.  Learn how another’s marketing department made sales professionals into their biggest fans through closed-loop feedback. And these are just a few of the highlights. There’s much more. See for yourself in the webinar replay below.

Download the slides here.

Jump to key points fast with these timestamps.

1:45 – Poll – Are you systematically testing the quality of your data?

3:43 – Poll – Would you consider your lead-management process a closed loop?

5:50 – MarketingSherpa’s results from a survey of 1,142 B2B marketers on how they managed the sales and marketing process.

7:27 – Introduction of MECLABS and presenters.

9:48 – Quick overview of the first three of the six funnel focal points: Clarify channel message, optimize list approach, re-engage your base. Watch the first webinar here:  b2bleadblog.com/part1

10:22 – Funnel Point 4: Tune Data Streams.  Why? Because you want to follow the lead of builders – measure twice and cut once.  There’s a lot to measure in marketing: how fast are you getting leads from a particular source? What’s the rate of disqualification? How many leads are out of your target market? When is it worth it spend more on a list if it will bring you more, better leads?

11:51 – Continuously clean your data to ensure accuracy, no duplications and no missing information. Data goes bad very rapidly. It takes 670 hours call to clean 10,000 names, and twice as long for email addresses.

12:27 – Clean leads require the standard of an Ideal Customer Profile and a Universal Lead Definition, and they avoid duplication of contact, locations, accounts, and areas of interest. Sales people hate it when you send them a new lead that’s actually old.

14:32 – Case study overviews how to test list efficiency and hygiene, and impressive results. Lists had been prioritized based on chronology or “gut feel,” rather than ability to produce leads quickly.

22:01 – Case study result: a 76 percent decrease in calling-cost per lead by using the most efficient list.

24:01 – Identify why lists perform better than other through qualitative analysis. Take advantage of decision-maker conversations. They help identify why a campaign is or isn’t working.

25:14 – Overview of how to optimize your data.

25:48 – Bad list: Disqualified lead for every 20 calls. Average: Disqualified lead for every 50. Better: Disqualified lead for every 100.

27:04 – Overview of how to purchase the best list and test them.

29:51 – Funnel Point 5: Timing It Right. When do you get the highest return on investment from your calling? Case study overviews how manufacturing client determined point of diminishing returns on lead follow-up.  Weigh the cost of following up with the value of the lead.

33:33 – Overview of testing results.

35:31 – Overview of how to apply case study results to your own organization.

36:56 – Funnel Point 6: Closing the Loop. It helps us know whether what we’re doing is actually driving sales. In the complex sale, the purpose of marketing is to help the sales team sell. Yet 80 percent of leads are lost, ignored or discarded because the sales team is getting leads that they don’t think will result in a sale.

39:17 – Make sure you’re only giving the sales team sales-ready leads. Use teleprospecting to take leads that aren’t qualified and follow-up with a human touch.  Get sales leadership support. Nail down an ideal customer profile and a universal lead definition.

41:39 – Pilot closed-loop feedback with a small group of sales professionals and then scale. Don’t rely on software to do it.

42:29 – The more often marketing and sales connect and communicate, the more energized the outcomes will be. Once people agree on process and are collaborating, when you’re preparing reports on how nurturing campaigns are contributing to deals, then build closed-loop feedback into a CRM system.  Know how many leads are turning into pipeline opportunity and don’t overlook the importance of deals that didn’t close.

44:40 – Make it super simple for sales to close the loop with you. Find out from them – was this a valid lead or not? Then offer four to five simple options to tell you why.

45:58 – MarketingSherpa case study of how Aprimo successfully closed the loop with sales by using surveys and top leadership.

48:00 – Case study results: Surveys filled out 100 percent of the time and reps love the process. Reps appreciated that marketing was doing the prospecting for them=

49:16 – Overview of key success factors to close the loop.

51:15 – Sample feedback survey.

51:45 – Overview of next steps and additional resources.

CRM, Lead Management, Webinar Replay

Your success hinges on what you accomplish in the time you have, and that is never more true than these last few months of the year as we all race to meet projections, quotas and sales goals.

At our next B2B Lead Roundtable webinar, I will once again be joined by an outstanding in-the-trenches marketer, Pamela Markey, MECLABS Director of Marketing & Brand Strategy. Every day, Pamela is driving opportunity to MECLABS and is all too familiar with the challenges marketers are facing, especially at year’s end.

Together, we’ll continue the conversation we began in our last webinar as we reveal what has helped ourselves, our clients and businesses that have submitted their experiences to MarketingSherpa and MarketingExperiments, the primary research organizations of MECLABS.

(Missed the first webinar? Watch it here: b2bleadblog.com/part1)

In just 45 minutes, you’re going to learn how to effectively seize the next three months to drive the very best outcomes and begin 2012 from a place of power. Find out:

• How to avoid wasting time on the wrong prospects by directing energies to the ones who will be most likely to buy.
• Identify the best timing and methodology for contacting prospects – how long to persevere and when to call it a day.
• Generate timely feedback from sales on every lead you give them – and why that’s absolutely critical to success.

If you’re eager for a solid finish to 2011, I strongly recommend you attend!

Inside Sales, Lead Generation, Lead Management, Leadership, Marketing Strategy, Sales

Longer selling cycles and stalled deals are impeding sales funnels everywhere. Use these three practices to convert more leads into revenue:

Use Funnel-Specific Market Research
If you really want to understand what’s happening with customers at a particular point in your funnel, then you have to ask them while the last interaction with you is relatively fresh in their minds. As such, an interview or survey should happen close enough to the event that the prospect will recall the context of the decision. Be sure to include questions on customer decision dynamics. In many industries, for example, executives are scrutinizing much smaller transactions, so lead generation, lead nurturing and sales enablement tactics must address this shift in buying behavior. Typically, such research reveals a few issues that can be addressed relatively quickly.

Integrate this research into your demand-generation and lead-nurturing framework by making such surveys or interviews automated trigger events. For example, let’s say you’d like to gain a customer perspective of your teleprospecting operation. Here’s how you can go about it:

1. Create an automated rule - on the first teleprospecting conversation send an email to the prospect moments after the call.
2. Reference the conversation and the name of the representative, then ask for confidential feedback.
3. Provide a link within the email to a simple survey that asks about the knowledge and professionalism of the representative. The web form might also allow for free-text feedback.

Use this type of feedback to improve training for the individual or team. Similar context-sensitive surveys could occur when customers download a white paper or a case study, attend a webinar or visit a tradeshow booth. Use this kind of information to improve white papers, case studies, webinars, or other specific marketing outputs.

Use Teleprospecting to Re-Engage Your Stalled Prospects
Professional teleprospecting representatives should consistently approach “dead” leads as an informal market-research project. The message can be straight and true. The representative is trying to find out what went wrong to better serve customers in the future. The rep should ask the customer to be as candid as possible, then listen and thank the customer for his candor. Open-ended questions should be used at the outset, with probing and clarifying questions thereafter. In many states, B2B calls can be digitally recorded so key stakeholders can actually hear what customers are saying.

Obviously, for this approach to work, the teleprospecting team must be listened to as a voice of the customer. The company can then use this intelligence to develop incentives that address the problems of delay. For example, if prospects lack capital budgets, perhaps a “buy-now-pay-later” program will get the sale back on track. Commonly, nothing has happened because the project was never a priority. In such cases, lead nurturing and campaigns targeting more senior executives can be of value.

Make this type of effort a two-part campaign. In the first phase, the team does the research. In the second, after huddling with product marketing and sharing the answers, the team reaches back out selectively to offer solutions that respond to the prospect’s reason for stalling. Of course, the solutions can then be applied moving forward to all stalled prospects.

Update Your Ideal Customer Profile
Sometimes, less is more. If your research reveals that your product or services is not a particularly good fit, you might want to revisit the ideal customer profile for each product or service, and adjust your targeting and qualification tactics accordingly. Better targeting won’t salvage stalled leads, but it will allow you to allocate more sales and marketing resources where you can win more frequently. That strategy, in turn, may buy your company more time to change the product or service to make it more competitive.

While no one can change the economy, you can increase the yield from demand-generation investments by using these three practices. They’ll help you attain a better understanding of the buying behavior and obstacles that prevent customers from moving forward. This approach will help you identify the best tools to move them down the sales funnel or reallocate resources that will yield a better return on investment.

B2B Telemarketing, Inside Sales, Lead Generation, Lead Management, Sales, Sales Leads