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What was the biggest b-2-b marketing success in 2011?

Posted on January 3, 2012 by Sheldon Sachs
The other day we were asked by an editor at the American Marketing Association for an answer to the question “What was the biggest b-2-b marketing success in 2011?” Because she was on deadline, she wanted a response via email. My first thought was that it was not an easy question to answer, and I told her that.Then I went on to say:

With regard to your request, as I said in the voice message I left for you a short while ago, I don’t think it’s easy to transmit via email the complexity of a response to your question about the biggest B2B marketing success in 2011.

Certainly the widespread (and growing) use of marketing automation tools has had an impact on the environment. But, this technology is only a tool that has been added to the arsenal of those who are actively marketing in the B2B space. It is far from a panacea.

Like all tools that seem to be game changers, a cult begins to arise around them. These tools and techniques are being promoted as the key to sales success. Not too far behind are those who profess that social media (from Facebook and Twitter to LinkedIn) are competitors for the mantle of greatest thing since sliced bread.

But the truth is that the principles of selling remain unchanged, most especially in the arena of complex, non-commoditized products and services. The key to success in that arena is the ability to build trust relationships, and all of the technology in the world is inferior to personal connection when building trust. There are no technological shortcuts available.

Social media and technology can assist in the process by streamlining and enabling but, in the final analysis, a sale is consummated only after a good listener can engage the key stakeholders in an organization in a consultative dialogue about what keeps them up at night and how to best find a solution that will help them rest more easily.

Then, this morning, I received an email from Ari Galper entitled “Predictions and the New Currency of Business for 2012” and, lo and behold, he said pretty much the same thing. It’s a worthwhile read. He even posits that direct mail will make a comeback. I’m not sure that I quite agree with that one, buy maybe….

In any case, sales people and marketers are no different from anyone else in the sense that we are always seeking the Holy Grail — the magic bullet. Whether we’re thinking about weight loss, making money, making friends or any other human endeavor, there really are no shortcuts. The universal truth is that all of this requires hard work and concentrated effort to reach a level of success. And in the world of sales, nothing beats developing and cultivating a trusting relationship. Nothing.

Posted in B2B Marketing, B2B Teleservices, Business Development, Networking, Relationship Building, Trust Relationships | 1 Comment

Are you losing business because of your choice of words?

Posted on December 12, 2011 by Michael Falkson

Today’s Guest Blogger is Joseph Olewitz .  In addition to being Founder and Principal Consultant at 22nd Story Strategies, Inc., Joseph currently shares experiences derived from years of pitching large professional services deals to major corporate brands on his blog: Intentional Growth.

How precise is your business language? When Shelly Sachs of eti Sales Support asked me to write a guest post, I immediately thought of the lesson I learned from him earlier this year. Even though I always operate as though word choice is critical, in a joint presentation we were making to a client of mine, Shelly pointed out that I had represented a core part of my recommended strategy as promoting the “USP” (Unique Selling Proposition) when it seemed that using “UVP” (Unique Value Proposition) as a title for the same presentation would be more customer-centric and a much better focus on benefits. I have not only used this term with other clients until now, but I also had recently written a blog about using USP to increase revenue.

Mea Culpa: Shelly was right of course and that caused me not only to immediately correct USP to UVP but to realize that I had been using a lot of terms in my vocabulary for a long time and that regular re-examination and consideration of language is imperative.
“Sales” in my universe is a powerful and useful term – but not always! In services sales, when talking about the relationship between my offering and my client’s they want to know how I will help them increase sales or revenues. However, their customer wants to know about the “Value” that’s being brought to market and that’s the term that should be used when describing your unique positioning.

I am now regularly reviewing words chosen for business communications with an additional POV perch – that of asking the question: “How powerful and how appropriate is that term in this specific context?” And I think we all need to do that much more often.

Some thoughts:

  • Ask some of your clients to read and comment on existing promotional material – with no sacred cows (include website, one-sheets, signage and more).
  • Have someone who was not involved in the writing review the proposal before it’s sent out.
  • Carefully look at how the client will respond to the pitch language (is it culturally appropriate?)
  • Remember to keep revising as time goes on, things change – and you do, too.

I’m now more attuned to the downfalls of complacency – how about you?

Posted in Marketing, Networking, Sales | Leave a comment

The Marketing Automation Donut Hole

Posted on December 2, 2011 by Michael Falkson
One of the key elements of Marketing Automation is the ability to track and then score how prospects navigate your website. The idea assumes that certain behaviors (clicks, downloads, etc.) indicate a relative level of interest in your products or solutions.The problem is that, in many cases, the person doing the research by visiting your site is not the decision maker but, more often, an assistant or surrogate. This is more likely the case if you have complex products being marketed to equally complex companies and decision making environments.

In this case, there is some level of interest no question – but just how much interest and the locus of their concerns requires direct engagement in a conversation that allows you to quality and quantify need, imperative and interest as well as who are the relevant decision makers who will engage in any purchase decision.

The best time to do that is precisely when the prospect is nibbling, and that may be the best time to have eti initiate a contact on your behalf. We’ll get in front of the prospects, identify all of the key stakeholders, and engage in a (consultative) dialogue to ferret out all of the dynamics of the situation and fully qualify it.  If you don’t do it first, then your competition might beat you to the punch. Remember, the prospect isn’t waiting around for their score to get higher.

For more information about how we can help you maximize your Marketing Automation investment give Shelly Sachs a call at 914.747.3030 Ext 3450 or drop him an email at ssachs@etisales.com.  (We already have successful integrations with Eloqua, MarketBright and ActOn.)

And, if you haven’t yet invested in a marketing automation solution, but have an interest in exploring one, we’d be happy to work with you to make that happen.

Posted in Lead Qualification, Lead Scoring, Marketing Automation | Leave a comment

Marketing automation revisited

Posted on November 1, 2011 by Sheldon Sachs

Shortly after my last blog post (“Content may be king; relationships are personal”), I came across the September 19 issue of BtoB Magazine. I noticed some interesting graphics on the Opinion Page that provided poll results for some recent Webcasts.

I actually found these data fascinating. If you’re seeing them for the very first time, you might well share my interest.

In the first chart we discover that more than a third of those who responded to the August Webcast survey were regularly employing marketing automation technology, and that an additional 20% were in an early deployment phase. So more than half of those folks are using marketing automation techniques, and the balance are considering deployment.

It’s hard to know the degree of overlap between the attendees of the August Webcast and those who attended the one in September, but I think it’s safe to assume that the audience was not all that dissimilar. And, if the overlap was significant, then the results of the survey to the September Webcast are quite disconcerting.

That survey asked respondents to assess their level of sophistication in data cleansing. The clear takeaway from their responses is that three quarters of them have real concerns about the integrity of their data and that fewer than 4% are highly confident that their data are sufficiently clean and up to date.

The follow up question, related to the same webcast, drives that point home with a sledgehammer. Nearly three in five respondents feel they are either merely tossing stuff on the wall and hoping it sticks, or have significant doubts that they really know the audience to whom they are marketing.

I fully realize that the Webcast was designed to drive home exactly that point, and to encourage people to focus their efforts on data cleansing. Nevertheless, I find that result astonishing. Why in the world would a company use marketing automation tools to send streams of automated messages to people about whom they know virtually nothing? How do you think the recipients feel about the companies who are, at best, sending them material in which they likely have no interest and, at worst, are spamming them?

In my view, this is not a ringing endorsement for the use of marketing automation. I am a firm believer in the notion that every time I touch a customer or prospective customer, I need to bring positive value for them to that encounter. I can’t see how I could do that without first knowing something about them, can you?

Posted in Lead Nurturing, Lead Qualification, Lead Scoring, New Customer Acquisition | Leave a comment

The Case for and against a Universal Lead Definition (ULD)

Posted on October 13, 2011 by Michael Falkson

There is a tendency by some marketing departments (pushed possibly by some marketing consultancies) to develop a Universal Lead Definition for their organizations.  The idea of course, is to get buy in from Sales to say that if you (Marketing) send me a lead with XY & Z characteristics then this meets our definition of a good lead and that in turn we (Sales) will commit to investing the time and resources in trying to close this opportunity.
From the outset let me say I’ve never been in favor of this approach.  Especially if the definition consists of a tight BANT (Budget, Authority, Need and Timing) definition.  See Sheldon Sach’s detailed blog on this subject.

That said there are some positives.  If Sales accepts and commit to this arrangement and do actually invest time and resources then the alignment of Sales and Marketing is greatly improved and even if the leads are not what they might be then overall result will be more positive.  And from marketing’s standpoint they now have an agreed to formula to perform to.
But there are lots of negatives.

First having worked with both marketing and sales departments for some 24 years I can tell you that in all this time I have yet to see a sales operation that will dance to marketing’s tune – regardless of the upfront commitments.  The one time I’ve seen some success is when management made a huge commitment to implementing a strategy and when the sales force balked – they fired 50% of them.  Are you ready to do this?  Most companies are not.
The fact is a good sales lead involves a lot of subjectivity.  There are inevitably countless nuances that cannot be quantified of scored in any way.

Here is a list of some factors that are beyond the usefulness of a ULD:

  • Some sales people are good closers.  Some are not.
    • Some sales people feel a lead must be an order taking opportunity while others understand that it’s just a foot in the door.
  • The Pareto principle applies as much to Sales – as it does to Marketing
    • 80% of sales are brought in by your top 20% salespeople
    • Only 20% of leads provided by Marketing closes
    • Only 20% of leads provided by Marketing are worthwhile
    • And so on.
  • Some leads may have long lead times … others will close in the short term.
    • Typically the larger more complex sales take longer to close and many sales people cannot be bothered because it will not affect their quota in the short term.
    • Yes sales people for the most part do not see the long term.  And even if they do they do not manage a pipeline for the long term.
  • More and more there is no one decision maker.  Even in the smallest companies decisions are now being made by (formal or informal) committees.
  • If the lead fits the BANT model you’re probably too late for the party.

At eti we’ve opted for a more customized approach.  We prefer to work with individual sales people and deliver tailored leads that work for them.

Can one effectively do this?  Of course and we’ve done so for many years.   Which do you prefer?
Do you prefer pushing a standard lead model (a round peg) down a square (sales force) hole?

Give Shelly Sachs (VP Business Development) a call at 914.747.3030 Ext 3477.  He’ll be happy to discuss this and other needs you may have in more detail.

 

Posted in BANT, Lead Generation, Lead Qualification, ULD, Universal Lead Definition | Leave a comment

Content may be king; relationships are personal

Posted on September 23, 2011 by Sheldon Sachs

Since time immemorial selling has been about relationships. From the three martini lunch to immeasurable rounds of golf and scads of tickets to sporting events, salespeople have used every method possible to connect with and cultivate prospects (and clients) at a personal level.

Now we’re being asked to believe that a new, disruptive technology has somehow altered the landscape. We no longer have to connect with people at a personal level to establish a trusted relationship. Now we can do it with content; a powerful, less expensive alternative – marketing automation! Content is king; no handshakes required, thank you very much.

So, how do we know what content to send them? What are they interested in and how do we know that? Exactly how interested are they? Where in the journey toward obtaining a solution are they? Where’s the pain?

If you follow the marketing automation model, and many do, you send out dozens of emails to people each month, each with a content offer. And then you track what they respond to and act accordingly. You send them whitepapers and round them up into webinars. Each time you gather more and more information about them (although, in practice, it always seems as if they ask the same questions each time I respond, no matter how often I respond, almost as if they really don’t know me at all).

Sounds to me like a lot of investment in creating content (although they tell you that you can “repurpose” the content you already have) and not so much invested in asking me the important, simple questions like: Why did I ask for that whitepaper? Why was that webinar topic of interest? What’s keeping me and my colleagues up at night? Where are my priorities and my company’s priorities at the moment?

They don’t bother asking me any of that, but they do send me lots of free content. The problem is that, when I look at the content, I discover that it’s either relatively shallow or, even if it has merit, it generally doesn’t quite apply to me or my specific challenges.

Eventually, I stop clicking and stop asking because I have actually soured on the relationship. It doesn’t give me what I need. I get no value from my time investment.

Of course, other than having to pay for creating the content (a substantial cost if done right), on the surface it seems as if it hasn’t cost them very much to generate highly qualified leads. I suppose if you are already investing in scads of content creation, then repurposing it will work. But, for most companies, that’s not the case.

No doubt, some people find that strategy hits the spot for them. The content they use is on the mark; it meets the needs of prospects and brings them into the fold through a self identification process. They may even make a purchase and become customers. When you measure the acquisition cost of that sale, it may seem attractively low, especially when compared to the cost of having to engage people personally from day 1 (excluding, of course the substantial investment in content and software/services).

But what about me, my needs and a sale to my company? That’s lost. Who’s measuring lost opportunity cost? Who’s assessing what might have happened if someone had taken the time to engage me directly, asked the salient questions, cultivated me at a personal level and earned my trust and my business? How does that figure into the cost per customer acquisition matrix?

It seems to me that if I’m going to buy into the marketing automation model, I want to do it on the basis of knowing what interests a prospective customer BEFORE I send them content. I always want that content to be relevant to their needs, and I want every single touch to bring value to the relationship – a clear statement that I listened, I heard and I have responded accordingly.

I can’t risk basing my relationship development strategy on inferences – on remote behavior from a distance. I prefer proactive to reactive. I need to speak with them first, understand their needs, concerns and aspirations. I need to establish a detailed profile of who they are, how they go about making decisions, how important to them is finding a solution and, most importantly, what are they trying to accomplish and what have they tried already that has failed. I need to know them – personally.

With knowledge of who they are and what’s important to them in hand, I can build a regimen of delivering exactly the content they need, knowing that it will bring value to them and establish the beginning of a trusted advisor relationship. And to achieve that most effectively, I need to invest in my own resources or hire a company like eti Sales Support that has the people, skills and experience to engage them personally, consultatively and reliably to build a positive brand image, assess the level and quality of the needs they have for the solution we represent.

Posted in Business Development, Marketing Automation, New Customer Acquisition, Relationship Building, Social Networking, Trade Shows, Webinars | 1 Comment

Generate more qualified leads by increasing prospect engagement with LiveChat

Posted on September 7, 2011 by farber

In today’s tough times we are all trying to do more with less and maximize our assets to the greatest degree possible.

In sales one can only have one conversation with a prospect at one time.  However, if you integrate Live Chat into the equation with a team of well trained Business Developers who can properly interact and communicate to determine need and or pain, you can extend that reach by factors of 200% – 400%.   That’s a meaningful impact!

LiveChat enables the BD to quickly assess the need and get the Prospect into the right process for follow up.  This may include moving the prospect into a more detailed Lead Qualification call, a Sales Lead Pipeline, a nurturing track or  other non sales (technical support) tracks.  Yes, utilizing Live Chat will divert a number of Prospects from the Contact Us forms on your site. The benefit is instant communication with these constituents.

You will also not be in a race with your competition to see who can reach the prospect first.To ensure success the Business Development team needs to be not only well versed in all that you do, but must also be proficient in identifying need/pain and sales opportunity. They need to have a detailed knowledge of the organizations roadmap and access to information to pass to the visitors. Using “Operators” that are reliant on canned messages that shoehorn all visitors to fit or merely have them ask if you want a salesperson to make contact does not make for a good or productive experience. In fact, it could be a huge turnoff.

Here are 4 pointers to keep in mind when using LiveChat to build your prospect pipeline:1.

  • Understand that Live Chat is a dialogue just like a phone call.
    • Because this is a dialogue, make sure the Business Developer is smart and can respond quickly and intelligently to each post by the prospect.
    • Canned responses if used must be well written and focused.  Use of canned messages that do not relate to the question can turn the Prospect off quickly.
  • Make sure your Business Developers have the tools to move those ‘chatters’ who do not have needs for your products and/or solutions quickly to the right department or information.
  • As in any sales call, one should always be moving the relationship toward greater levels of engagement and commitment.
  • Your brand is important, make sure the chat helps build it:
    • Be respectful of the prospect
    • React to their needs and interests rather than pushing your agenda.
    • Articulate responses in proper English.  Spelling and grammar does count.
    • Be polite and take no short cuts.

If you’d like to learn more about how this works and how you can leverage your website to generate highly qualified leads call Sheldon Sachs VP Business Development at 914.747.3030 Ext 3450.

Posted in B2B Teleservices, Business Development, Chat, Lead Generation, Lead Qualification, Uncategorized | Leave a comment

Make rejection a thing of the past

Posted on August 2, 2011 by Michael Falkson

When you work in sales, it sometimes feels like rejection is part of the deal. When you call dozens of people every month, you generally can’t expect all of them to be on board with the product or service that you’re selling. But if you feel like you’re striking out more often than you’re closing deals, there might be something you can do turn things around. That’s right – if you thought getting rejected was just a part of the sales profession, it’s time to think again. While you may never be able to sell to everyone you speak to, you can dramatically up your chances of closing a sale by avoiding certain behaviors that turn prospects off of your products and services.

There are two ways to approach sales: by focusing on your product and by focusing on the prospect. The former will turn your prospects off, while the latter will keep them intrigued – and here’s why.

If you focus too hard on convincing someone to buy from you, you begin to sound disingenuous – no matter how pure your actual motives may be. No one likes to pushed into making a purchase, which is why you need to be careful not to get overeager or forget about the prospect’s concerns and questions. Remember: Selling isn’t about moving, it’s about finding a product that’s a suitable match to someone’s needs and desires. When you put prospects first, they’ll be more apt to trust, respect and just flat-out like you – which will put you in their good graces, whether or not they decide to buy from you.

Of course, not every prospect you talk to is going to need the product you’re selling – and that’s all right. If you’re honest with them, they’ll walk away from the interaction knowing that you’re a trustworthy resource to whom they can turn at a later date, should they ever develop a use for what you’re offering. Both of you leave the conversation with your relationship in tact and the possibility of a future meet-up remains open.

After all, closing sales starts with opening relationships. When you create lasting bonds with prospects, you don’t just make a sale today – you create the possibility and opportunity to make more money in the future.

Salespeople who put their prospects ahead of their quotas keep their dignity and integrity intact. Those who focus too hard on pushing a sale, even when it’s not the right fit, are the ones who end up experiencing rejection.

 

Posted in Business Intelligence, Customer Retention, Lead Generation, Lead Qualification, Relationship Building | Leave a comment

Build relationships with prospects to become a better salesperson

Posted on August 2, 2011 by Michael Falkson

Making a sale starts with a building a relationship – and building a relationship takes effort. A lot of it. That’s not to say it’s hard, of course; building a relationship may not be the easiest thing in the world, but it’s certainly simpler than trying to push or bully a potential client into purchasing from you when your product isn’t a good fit with their mission, goals or company. If you want to start closing sales and creating a fuller professional life, it starts with making yourself available to your prospects as a valuable source of trustworthy, honest and useful information.

If you want to sell something to someone, it’s essential to know what he or she is looking for. Think of it this way: You wouldn’t try to sell a minivan to a childless bachelor, just like you wouldn’t try to sell a Corvette to a mother of four. When you understand your client’s needs, you can work with them show them how valuable the service or product you’re offering can really be to them. To do this, you need to open up a conversation with them – believe it or not, they might surprise you. Don’t try to guess what they’ll want. You never know, sometimes that metaphorical mom really is looking for her own sports car.

A salesperson’s role is to understand the unique challenges that a client faces in its specific market or environment, then discover a solution that will help the client overcome these issues. Rather than simply asking, many inexperienced salespeople try to guess what a client needs – or, if that doesn’t work, start throwing out every possible service or product in hopes that’ll something will stick. This, however, is a waste of not just your client’s time, but yours as well. Instead of taking this amateur approach to making a sale, start by simply asking questions, listening to their answers and working with your prospect to devise a solution.

If you want to start see your sales close, it’s time to stop focusing on yourself and start paying attention to your client. Don’t just sell what you offer -sell what your client needs. To learn what that is, ask questions – What are their key interests and challenges? What do they struggle with in their industry? What are they looking to fix?

Even if it doesn’t appear that you have much to offer them immediately, a little extra digging might uncover a way that you can aid them in their mission. And if not, at the very least, you’ve opened up a productive relationship and established yourself as a trustworthy source should they ever need a service or product that you offer.

 

Posted in New Customer Acquisition, Relationship Building, Sales, Uncategorized | Leave a comment

Appointment setting for the sake of appointment setting

Posted on February 24, 2011 by Michael Falkson

Invariably we get inquiries from companies that pretty much say … “All we want is appointments”.

And our response … “Are you really sure about that?”

Take for example a call I received this morning from XXXX Bank.  Unfortunately it was obvious from the get go that this person had no clue about myself and our business.  In fact my presumption is he was calling about the business, but even that I’m not sure about.

This was the gist of the (one sided call):
  • Hello my name is ______ from XXXX Bank.  Mr.  Falkson we sent you a package recently about XXXX bank.  Did you receive it?
  • MF:  No.
  • Mr. Falkson,  I’d like to arrange for someone to stop by for a half hour … not to sell you anything … just to introduce ourselves and discuss your banking needs.  Is that OK?

Needless to say I was not going to provide a half hour to a sales representative to stop by.  Furthermore, why should I? No reason at all was offered to justify me giving them any of my valuable time.   Furthermore, the lack of professionalism left a read bad taste and so inadvertently XXXX Bank has probably tarnished their brand in my eyes irrevocably.

Here are some ways in which the caller might have been more successful:
  • He might have spent some time beforehand determining in who I was and during the call, asking questions about me and my business (“How have you fared in the recent economic downturn? How did it affect your business? Was your bank at all helpful in helping you maintain or even grow during the recession?)
  • He might have actively probed as to
    • Need
    • Concerns
    • How decisions are made in our company
    • The nature of our current banking relationships / solutions
  • He might have given me some details about what was sent and why

Clearly, he was obviously disingenuous when he said “ … not to sell you something …” .  Really?  It was pretty clear that he was only interested in securing an appointment.  Everything else be damned.

Although I cannot prove it, my hunch is that the caller was being paid on a ‘Pay For Performance’ basis.  The net result is that XXXX Bank will eventually pay the price for not engaging in professionally handled lead generation effort.

So careful what you pay for.  If your brand s worth anything think twice before engaging in poor lead generation practices.   You could do yourself more harm than you think.

Posted in Appointment Setting, Lead Generation, Lead Qualification, New Customer Acquisition, Scripts | 1 Comment
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