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Is it Time to Shake-up Your Marketing Strategy?

Maximize your Lead Generation to enable Sales Transformation.

B2B Telemarketing

Data-Driven Lead Nurturing Program for B2Bs

We all understand that the pressure for immediate results drives strategic decisions. But identifying and making use of the buyer’s position in the overall life cycle with the right approach can yield more fruitful results, compared to pushing the hard sell at the wrong time.

data driven lead nurturing

Larger business purchasing decisions lead to longer sales cycles, today taking anywhere from 18-24 months. Faced with a potentially lengthy courtship, view your Lead Nurturing process as a series of “micro conversions.” Until you determine if there is real interest or are able to build on the current level of interest, you shouldn’t assume your Prospects are ready to commit. But with continued nurturing and patience, you can qualify them at a higher level, deliver real value, and begin your relationship even before they make a purchase.

Take simplified approach, it’s worth it.

“Everything should be made as simple as possible, but not simpler.”—Albert Einstein.

Or in other words, just keep it simple. It’s not necessary to take on your entire data base in one fell swoop. Hone in on a specific segment to begin with, measure your progress and optimize accordingly. The key is to take incremental steps while keeping it as simple as possible to reduce complexity while learning the ropes.

Use your audience understanding to create targeted communications.

Getting “the right message to the right person at the right time” is what every marketer seeks. Technology has provided access to a wealth of information and subsequently created a paradigm shift that has changed the marketing perspective to a consumer-focused one rather than product focused. This shift has ushered in the Age of the Customer. 1 In its wake are the “one-to-many” communications containing generic information sent to broad audiences, discarded in favor of “one-to-one” communications that are responsible for propelling Prospect leads closer toward a purchase. Using a targeted approach, each person is guided through their personal stage in the life cycle. Segmenting your database by behavior or developing personas (snapshots of your segments), can enable you to deliver targeted communications to drive success in your Lead Nurturing activities.

 

Personalization goes beyond a name and address.

What’s the single most important word to a person? Their name! A proper Lead Nurture campaign is powered by data; but to truly realize the potential, you have to put that data to use. This concept extends past addressing your leads byname; it involves using their digital body language to determine what content is useful and relevant to them. Research from Marketing Sherpa showed that 82%of Prospects identified content targeted to their industry as more valuable, and 67%found content targeted to their job function to be more valuable. By personalizing content, you make it more relevant, while moving your Prospects through the nurturing phase. Embrace their unique qualities to get more out of your nurturing efforts, while increasing the life time value of your customers.

 

A Revisit in Lead Generation Services for Kick starters

Lead generation services includes identifying prospective customers and qualifying their likelihood to buy in advance of making a sales call through multi-media marketing strategies. In short, it’s about motivating prospects to raise their hands to sign for your product.

Lead generation service is the single most important objective of any business-to-business (B2B) marketing department. Other objectives, such as brand building, brand pioneering, public relations, and corporate communications are also on the list, to be sure. But, providing a sales force with a steady stream of qualified leads is job one.

A Revisit in Lead Generation Services for Kick starters

A business lead is a prospect that has some level of potential of becoming a business partner. We need to distinguish a lead from a business inquiry or from a mere list of names, with which leads are commonly confused. Mailing lists or contact lists of business prospects are often presented as “lead lists,” a misnomer that generates not only confusion but even ill will in the world of business marketing. A passive list of prospects (or, more appropriately, suspects) does not deserve to be called a list of leads, they are just contact lists and call them through telemarketing services.

The same holds true for inquirers. Simply because someone has expressed a modicum of interest in your product or your company does not mean that person or that company is ready, willing, or able to buy. But an inquirer has plenty of value. You can continue to communicate, nurture that interest, and keep a relationship going until a sale is imminent.

Marketers must deliver a lead to the sales team only when the lead is truly qualified, and they must do so by criteria developed in consultation with the sales force. Consistent delivery of qualified leads that convert satisfyingly to sales and meet sales quotas—that is the hallmark of successful B2B lead generation.

Effective Ways in Building Relationships with your Prospects

Accelerating your funnel isn’t just about better lead qualification and assignment. It’s also about continuing to build relationships throughout the length of the sales cycle — without all of the manual work that relationship-building normally requires. With the ability to automate communications and tedious follow-ups, your sales reps can move prospects through the sales cycle with minimal time and effort.

Building Relationships with your Prospects

Nurture leads who are actively participating in the research process.

According to Pardot’s State of Demand Generation study, 77% of buyers want different content at each stage of their research. Using lead nurturing, sales and marketing teams can cater to these preferences by “dripping” appropriate content depending on where they are in the sales cycle. Content can then be adjusted accordingly based on prospect responses. When buyers have completed their research and start reaching out to sales reps, they’ll already be educated, meaning that sales won’t have to waste time guessing at their pain points and needs.

Companies that excel at lead nurturing generate 50% more sales-ready leads at 33% lower cost. (Forrester Research)

Then, nurture leads who aren’t yet ready to buy.

Lead nurturing is an equally powerful tool for buyers who aren’t actively participating in the research process. According to Gleanster, 50% of leads are qualified but not yet ready to buy. Without a way to nurture these leads to a sales-ready state and keep your company top of mind, you risk letting them fall through the cracks, increasing the chances that they’ll be won over by a competitor. Steadily communicating with these prospects by delivering helpful content ensures that sales reps never neglect leads who might eventually turn into opportunities, or even closed deals.

 

For many marketing departments, lead and prospect databases represent one of the largest monetary investments of the entire department. Don’t lose the leads (and potential revenue!) in your funnel to neglect, or even worse, to your competitors.

Have your sales team automate follow-ups.

When follow-up isn’t automated, it can be easy to forget. While your sales and marketing teams may recognize the importance of a prompt follow-up when trying to close deals, they’re often too busy to make it a priority. Instead of wasting time covering their tracks and rebuilding relationships, they could be using marketing automation to define appropriate follow-ups for specific situations. These messages can then be automated and personalized so that sales reps get regular touch points with each of their prospects, reducing time spent on manual tasks and freeing them up to focus on closing deals.

By automating follow-ups, it’s much less likely that prospects will be neglected by sales reps, reducing the chance that they’ll be lost to a competitor. And with regular touch points, reps can stay with their prospects all the way through the sales cycle.

The Real Cost of List Management Services

  • List Management Services

    List Management Services

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When collaborating with our clients we devote a excessive deal of time conversing contact data. Who is the target, how easy are they to locate, what are key role descriptions, and what is the message you bring to them. We are industrious about educating them with regards to direct dials, the need for emails, and the ownership of the list versus a rental list. All of these are critical but often ignored by organizations looking to purchase data. A list is assumed to be a commodity item and yet it is far from it. The list is the key driver for all other actions that happen in the sales campaign. It is one of the most critical portions of any marketing outreach.

During the MarketingSherpa B2B Summit 2011 presentation, presented by MECLABS, “Optimizing the Lead,” it was discussed that a $1 per record list (“the best deal”) results in a campaign that is 2.5 times more costly than the most efficient list. In the study, the $1 per record cost, resulted in a $954 cost per lead. In a list that cost $24/record, the cost per lead was $373 and resulted in a 60.85% decrease in overall campaign costs.

Targeting Your Prospects Correctly

The details in arrears this result are clear to see. Although the $24/record list cost $24,000, the calling campaign associated with that list cost $92,400, for a total campaign cost of $116,400. Comparing these metrics to the $1/record list; the total list cost was $9,350, but the calling campaign associated with that list was $287,980, for a total of $297,330. At the end of the day which result would you take?

The key takeaways are that “cheap” data is really expensive, and the less you spend on the data the more you will spend on tele-prospecting. List acquisition must be seen as strategic and not simply transactional if you need to roll your marketing strategy.

The MAGIC Formula in B2B Appointment Setting

  • The MAGIC Formula in B2B Appointment Setting

    The MAGIC Formula in B2B Appointment Setting

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B2B sales appointment setting and lead generation are such critical part of any businesses’ sales funnel. Appointments and B2B leads are the fuel to a healthy sales engine, after all. Yet so many sales organizations are with challenged with the task of filling their sales funnel with more opportunities.

            “Only 25% of leads are legitimate and should advance to sales.”

Source: Gleanster Research

            “More than two thirds (68%) of companies report struggling with lead generation.”

Source: Lattice Engines

            ‘Companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost.”

Source: Forrester Research

            “57% of B2B organizations identify ‘converting qualified leads into paying customers’ as a top funnel priority.”

Source: MarketingSherpa

Some sales research suggests that 75% of business calls end in voicemail. There’s widespread debate on whether it’s even beneficial to leave voicemail at all in B2B sales. We’ll save that debate for another day and focus on tips that might help you if you DO decide to leave voicemails in the course of B2B sales prospecting.

There are several B2B appointment setting metrics that carry weight. Really, you can dice up the numbers any way you like, but the idea in sales data analysis is to identify problem areas and success areas. Not only that, these data points must be used to fix the problems and expand on those successes.

There’s a “Magic Formula” which encompasses the most basic B2B appointment setting metrics.

  • Touches/Dials – The number of times an agent touched a contact record. There’s some flexibility in defining this number
  • Conversations – The number of hard connects with targets. This is live conversation with the prospect on the telephone.
  • Appointments – This is the end goal of a lead generation team. All previous efforts have combined to produce this result.

Once you have a large enough sample (we recommend 2500 touches or more), get acquainted with this ratio and how it fluctuates. The formula will be different for all types of industries. You can even compartmentalize the formula to find out how well your inside sales team performs in certain industries, geographies, etc.

Top 4 Questions to Ask Outsourced Inside Sales Providers

In any high-tech companies, you’ve decided to invest in an inside sales team to surface new sales opportunities and qualify leads. Just as many of those same companies, you’ve done the research on your options – outsourcing, insourcing, or a hybrid.  You’ve decided to go down the outsourcing path in order to ramp up as quickly as possible.

The rest is easy, correct?

But not so fast. You are now faced with a pile of outsourced inside sales firms, and choosing the wrong one can cost you time, money, and credibility. Continue reading…

A Kick Start Recommendation for Marketing Technology Issues

 

I had a realization that reminded me of recent conversations with many of our leads whose marketing technology issue is starting to look like a kitchen drawer—full of unitaskers, gained through a variety of circumstances, without any real thought about how they fit into a well-functioning kitchen. These leads lacked a technology roadmap and hadn’t fully anticipated how these systems would integrate across their marketing technology issue and provide good insight in providing professional telemarketing services.

Kick Start Recommendation

So how can a marketer make informed decisions in this fast changing technology landscape while providing professional telemarketing services? Here are three recommendations for evaluating your marketing technology issue and kick start your sales lead generation:

  1. Address the Root Causes Before Taking on New Technologies

During the SiriusDecisions Technology Exchange conference, one of the key takeaways for marketing was to focus on people, process, and technology—in that order. I would suggest adding data into this framework, so focus on people, process, data, and then technology by the Inside Sales professional. Problems with people and process are real, as are issues with data and technology, so don’t rush into new technology adoption when your problem could be more fundamental. In fact, adding new technology without addressing the root causes in people, process, and data can mask or even further exacerbate the problem in Database Management.

  1. Develop a Technology Roadmap and Integration Strategy

Before rushing to buy the next new shiny object, have a plan first. Develop a technology roadmap that specifies what core components you need in your marketing technology issue. Once the core stack components are identified, then identify what gaps you still have and plug each with the right unitasker. Along with the roadmap, have an integration strategy that addresses how data and process will flow through the stack of Database Management.

While every company’s needs are different, in my opinion, here are the five essential components every B2B marketer should consider in their marketing technology issue:

  1. CRM
  2. Marketing automation
  3. Data management and integration
  4. Data visualization and reporting
  5. Content management and personalization
  6. Determine How You Will Measure before You Buy

Before you commit to a new marketing technology solution, ask yourself and your Inside Sales professional: How will you measure and keep track of the performance and return on investment of the new solution? It’s important not only to demonstrate to your marketing and sales leadership that the new solution is effective and works as advertised, but also to ensure it’s producing the correct results without unintended side effects in sales lead generation.

While there’s an abundance of great solutions out there for lead generation services, it’s important not to lose sight of the forest for the trees. Understand the root cause of your problems and whether a new solution will really address them, have a technology roadmap in place to understand where your strengths and gaps are, and understand how you’ll measure success before you commit to purchasing.

3 Reasons How Email Marketing is Different from Cold Calling

How many times have you sent an email to the people on your contact list and not gotten any results? We’re betting that’s a lot, and well, we’re guessing you don’t like seeing those figures either. You probably do email blasting every day and send millions of mail a month, but have you ever wondered why your conversion rates don’t exactly seem to be improving, or at least hit your expected output? Maybe that’s because you do email marketing the same way you do cold calling: cold!

3 Reasons How Email Marketing is Different from Cold Calling

A wise man once said that what kills a business is a lack of sales. Such is true because money continues to prove that it is indeed the lifeblood which keeps companies up and running. Without it, a business crumbles to the ground. And well, your email marketing campaign is essential to helping your business make more money. Why? Because it generates leads and sales, that’s why!

So what do we mean when we say that email marketing should not be done like how we do cold calling? See for yourself in the points below.

REASON 1

I’m busy and I don’t know you. I’m going to press delete now.

Have you ever received any emails from people you don’t know? Well, if you have, then you know all about how to ignore such emails and how easy it is to just get them out of your inbox. As such, put yourself in the shoes of your email recipients. Do the people in your sales leads database actually want to receive your emails or newsletters? If they don’t know you personally, or just don’t want to be bothered, then they will be quick to get rid of your email, or just ignore it for the rest of the day… or even for all of time. After all, they’re busy and have much more pressing matters to attend to.

REASON 2

I never asked for an email from you. Why are you sending me one?

Receiving an email from an unknown recipient can often be annoying, especially when they keep doing it again and again. If you’re native to cold calling, then you’ve probably heard someone complain to you on the phone about how they never asked to be called, and asking you why you’re calling them. The same thing applies to email marketing often enough, and some of your prospects don’t want to be bothered with your emails, especially when they never asked to receive them, or subscribed to receive your newsletters.

REASON 3

I Don’t. Know. You.

Pretty similar to the first point, although without the factor of them being preoccupied by something else. Why doesn’t cold calling work all the time? Well that’s because the person being called has no idea he/she was going to be called, and also because they don’t know who the heck is calling them. So why does your email marketing campaign fail? That’s because relationships between you and your clients and prospects matter. If people knew you on a personal level, then they would be more receptive and probably take time to go out of their way and read your emails, let alone answer your phone calls.

 

Email marketing is not the same as cold calling; you can’t always get what you want from sending mail to random people on your business contact list. As such, it’s important to build proper relationships with your prospects before you start blasting like a laser cannon.

So, do relationships with your clients and prospects matter to your email campaign? We’d love to know what your take on email marketing is. Feel free to leave us a comment.

What is a Business Lead and How Business can make use of it?

Let’s start discussing with the basics. A business lead is a company who has indicated interest in your company’s product or service in some way, shape, or form.

In other words, instead of getting a random cold call from someone who purchased your contact information, you would hear from a business or organization you’ve already opened communication with. Continue reading…

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