B2B Lead Generation Blog

Generate over 60,0000 inquiries by educating people?

Last year, I wrote a post on giving away ideas to proactively educate and attract future customers. I was surprised that it generated such lively discussion.

Michael Stelzner wrote the following comment on my post back then, “I have been giving away my trade secrets for years (against the advice of advisors). The results have been amazing. The fact is that folks look to you as a thought leader when you share your secrets. In addition, the discussion that comes from sharing results is a better idea.”

Today, Michael just launched a series of videos on how he is leveraging educational techniques to pull in inquiries and generate leads. Michael told me he's got a bunch of videos he plans to release over the next few days telling how he generated over 60,000 inquiries and leads for his business by giving away his ideas.

Watch his first video, "How To Generate Mass Interest in Your Business During Tough Times." (No need to do anything special, it will just start playing.)

Web Analytics for B2B Lead Generation

In the complex sale, the length of the buying cycle makes the connection between on-the-web activity and the off-line decision to purchase much more difficult to trace. So the challenge is connecting our website data (analytics), with marketing data (inquiries and leads) with the sales process and revenue (closing the loop). 

I came across Manoj Jasra post, "B2B Web Analytics: Deeper Dive - Web Analytics World" and thought it was relevant to share.   

Jasra writes, "in order to be successful in a B2B world, marketers require a strong understanding in regards to their potential customers. Things such as lead qualification, targeting in the sales cycle, and testing content/collateral are all areas where analysts can push the envelope in order to provide more insight for their marketing team."

Jasra's post outlines four key analytic areas which include: quality of leads, sales cycle, optimizing your content (for SEO and conversion) and conversion rates and funnels.

Here are some posts that give more suggestions on analytics.

Related posts:

Tracking ROI From Web Generated Leads
Improve your online lead generation measurement

I still think there is a lot of improvement that needs to be made in this area. Are you satisfied with your ability to track your online lead generation ROI? If so, what's been working for you?

How to Select and Optimize Outsourced Teleprospecting Redux

If you're too busy to listen to my podcast or simply prefer to reading over listening, Sridhar Ramanathan, whom I interviewed on how to select and optimize outsourced teleprospecting partnerships, posted his the talking points on his blog. 

Pacifica Group: Part II: How to Select and Optimize Outsourced Teleprospecting

ITSMA: Elevating Demand in a Crowded World

Generating demand has become a top priority for most companies in today’s slower environment. The most successful programs are much more targeted than in past years and favor quality over quantity.

You're invited to join me at ITSMA's (IT Services Marketing Association) upcoming Marketing Leadership Forum May 6-7, 2008 in La Jolla, CA. I’ll be giving a keynote on “The Playbook for Effective Lead Management” and I'm looking forward to meeting the other speakers.

Please note is there is a fee for this event. ITSMA has extended a their member rate discount to B2B Lead Generation Blog readers. To register this way, select “My Company is an ITSMA Member,” and in the Comments field enter “Brian Carroll Offer.” Register here

Let's stop doing random acts of lead generation

I don’t know about you but I seldom meet a B2B marketer who has time to think. And it seems that the pressure keeps building as more of us seek to do more with less.

That said, it’s vital for us to think before we execute. It’s not about doing more campaign activity… it’s about doing the right things repeatedly better.

The simple act of a sales and marketing team finding time to think and collaborate together is vital to developing a solid lead generation program. Our results will improve because we're following this approach: ready, aim, aim, aim, and then fire. 

Mike Gospe wrote a great piece for MarketingProfs, "Lead-Generation Blueprints in 30 Minutes." I like the article because it shows how one marketer took time (just 30 minutes) to think out a problem with his sales team and develop a game plan before they executed. The ROI results of this approach are truly remarkable.

My sales and marketing meets together weekly via "huddles" it really helps them get the same page and collaborate. It's amazing what can be accomplished in just 30 minutes.

Here’s a list of 35 other ways that Marketing and Sales can collaborate together.

Podcast: How to Optimize Teleprospecting Vendors

More companies than ever are using third party providers for teleprospecting and lead management operations, however there is little information on how to select, engage, and measure these vendors who will add that essential human touch.

I just interviewed Sridhar Ramanathan, President of Pacifica Group, on how to evaluate and optimize outsourced teleprospecting partnerships (aka inside sales, telesales, telemarketing). 

Sridhar is an industry thought leader in marketing and former HP executive that grew HP's Managed Services unit to $1B in revenue. He has spent that last seven years advising his clients at Pacifica group on how to implement successful marketing strategies that increase revenue. 

If you are involved in lead generation for a complex sale, this podcast offers practical information you won't want to miss.

During the interview you will hear Sridhar discuss:

• Why his client's decide to outsource
• What to have ready before engaging a firm
• The criteria companies should use when hiring a firm
• Success metrics used to evaluate effectiveness
• Pitfalls to avoid in a partnership
• Co-sourcing or Outsourcing?
• Best practices that make teleprospecting partnerships very effective

Listen to podcast now (27 minutes MP3 9.58 MB)

Podcast: How to Select and Optimize Teleprospecting Partnerships

Top Lead Generation Tips for New Sellers

The faster we can get new sales reps producing revenue the better. So what works? Jill Konrath shares 5 great tips for new sellers on her Selling to BIG Companies Blog and it’s definitely worth a read. I particularity liked tip number four about creating an “account entry campaign.”

One of the most difficult and consistent challenges for sales people is getting their foot in the door with the right people, at the right companies. Here's 5 more lead generation tips I’d recommend for new sellers.

1. Define your goals – Be clear on what you want. Do you want 20 more leads in your database? Do you want to generate $995K in net new customer in revenue this year? Do you want to add 15 new clients this quarter?

2. Develop a lead generation calendar - Map out your activities for each month and then really follow it! Don’t just make irrelevant pitches more often! Create a plan to add value every time you touch your future customers with relevant ideas, content and resources.

Lead management software becoming a hot topic

What do you do with leads or inquires once you generate them?

This basic question is overlooked by so many and yet it’s the leading cause of failure in what would otherwise be effective lead generation programs.

The common-sense answer to this challenge is easier said than done: Have your best people respond to them quickly and consistently in order to qualify them into sales ready leads. The ones that aren’t qualified yet (but are a fit) you put into a lead nurturing process.

The need to better manage leads and inquires has given rise to a slew of new software companies offering a variety of lead management or marketing automation solutions. 

An interesting conversation was started recently by Laura Ramos on the Forrester Marketing blog about lead management software. I’m really glad to see an analyst giving their opinion and I look forward to more insights. Ramos’ post, “B2B Lead Management Market Heats Up,” is definitely worth checking out.

According to Ramos, there are four primary buckets of technology solutions aimed at solving the “how do I make lead generation activities more effective?” They are:

1. Web analytics
2. Database services
3. Marketing automation
4. “Pure play” lead management

With that said, I think it is important to realize that lead management software and marketing automation tools are only one part of an effective process. Here's what I've learned...

Podcast: A new role for sales as expert content filters

I just had a great interview with Robin Carey, co-founder of the Customer Collective.

Salespeople have become the second choice for information among buyers who'd rather just go to the Internet. This trend actually creates an opportunity for those who think and act like trusted advisors.

You can listen here

In the interview, I share how I got my start and how the Internet has shifted control away from marketers and salespeople. I also describe how today's sales people can add value to the buying process by becoming expert content filters for prospects. This is the key to lead nurturing with a human touch.

What's The Customer Collective? It's a new business outreach community for sales and marketing executives. It was built in collaboration with established media companies like Business Week, ZDNet and BNET. I see it as a social media site (that doesn't focus on social media) but rather looks at real meat and potatoes sales and marketing. We need more sites like this.

Fear not! Think like a savvy investor with lead generation

This morning I was talking to a marketing leader about his 2008 strategy and he brought up some concerns he had about the economy and its potential impact on him and others. Can you blame him?

In years past, marketing has been favorite target for cuts by CFOs and CEOs as they look to conserve cash and reinforce their balance sheets for tough times.

I’m less concerned about budget cuts and more interested in opportunities for him and other B2B marketers who choose to bring focus to their marketing efforts. We have to remember that regardless of the economy, sales people are still expected to perform. I seldom find sales quotas are lowered to fit the news headlines.

If you want to flourish regardless of the economic conditions, you need to look for ways to help your sales team execute and improve performance.

I’m convinced that one of the best ways to do that is to focus on lead generation. Yesterday, I read a Kate Maddox's article in BtoB Magazine, "IDC: Tougher times for tech marketing," which supports that other B2B marketers are doing just that.

Much like a savvy investor who buys when the market is down, smart marketers can capitalize on this opportunity (and beat competitors), by bringing focus and attention to their lead generation efforts.

Why cost-per-lead budgets fail and fewer leads are better

A reader asked me to explain why fewer leads are better and why “cost-per-lead” budgets fail. These are two great questions that have the same fundamental answer: quality first then quantity.

The truth is that sales people care very little about the cost of the leads we generate. What they really care about is how many of those leads will actually become viable sales opportunities.

For this reason, I think cost-per-lead measurements are irrelevant unless we can answer another fundamental question first, “What is our rate of lead acceptance (a.k.a. sales pursuit) into the sales pipeline” and then “What is the cost per opportunity?”

Sadly, I find that a lot of marketers tend focus on cost-per-lead because they really don’t know what happens to their leads after they hand them off to their sales team. This is why closed loop feedback and lead management are so important.

B2B 2.0 marketing expo by MarketingProfs

The gang at MarketingProfs put together conference that's worth checking out. Now here's the best part... no conference travel required. The B2B 2.0 Marketing Expo is March 5, 2008 and you can register here.

Lead Nurturing is about Relationships, not e-mails

Carrying on the theme of my recent post on lead nurturing as trusted advisors with the  human touch, I came across Mike Volpe's post over the HubSpot Marketing Blog. I thought he did a nice job of showing the human touch in action as part of the lead nurturing process.

The goal of lead nurturing is to maintain a relevant and consistent dialog with viable future customers - regardless of their timing to buy. It’s about relationships. As you read Mike’s story, you'll notice how he helped “Kristen” move through her buying process not by selling but by seeking first to be a relevant resource to her.

Lead nurturing requires a shift away from the traditional marketing mind-set to a new way of thinking centered on the following tenets:

• Companies don't buy - people do. Don't ever forget the human touch. 
• Build relationships with the right people and companies regardless of their timing to buy.  Engage these people early in their buying process (preferably before) and you can co-create and influence their vision.
• Trusted advisers win more sales than slick brands.
• More ROI is reaped from the patient tending of future customers (relationships) over time. Think: customers for life.
• Lead nurturing is a conversation, not a series of disjointed campaigns. 
• A multi-tactic and multi-touch lead generation portfolio will always outperform marketing tactics that stand alone.
• Generate relevant content that engages the right decision makers/influencers.
• The first impression matters.  So does the second.  So does every single touch after that.  Consistency and relevancy is key.

If you keep these ideas top of mind, the way you nurture leads will naturally go beyond just e-mail. You’ll start thinking about how you and your sales people can be a relevant resource. When you do that, you don’t have to sell to people. They will come to you first when they are ready. Again, it’s about relationships.

Alltop a single page blog dashboard of sorts

If you don’t have time to search though multiple blogs I recommend you check out Alltop. The site was launched by marketing wiz, blogger, author, entrepreneur & venture capitalist Guy Kawasaki.

What's different about Alltop? It’s really a selection of the top 50 RSS feeds (i.e. mostly blogs) in 20 categories. All that information is collected listed in a single page. Personally, I’m finding Alltop useful for keeping up with other topics I'm interested in but don't want to spend a lot of time on.

The small business section includes the B2B Lead Generation Blog along with publications like Fast Company, Entrepreneur, Forbes and some of my favorite bloggers like Jill Konrath, Patrick Schaber, Seth Godin, John Jantsch, and Yvonne DiVita.

How to make B2B marketing messages more memorable

In B2B marketing, when you have many potential buyers who are involved in the buying process, how do you connect with these people in a memorable way?

If you look at most lead generation messages, they often contain industry jargon and abstract ideas. Interestingly, that’s part of the reason many of them don’t work.

Our future customers are weary of messages, pitches, hype, buzzwords, and corporate speak, that they quickly forget them. So how do you create marketing and lead generation messages worth remembering?

Lead nurturing thoughts

It’s surprising how many marketers now say they do “lead nurturing” but in reality they are just sending monthly email campaigns or monthly newsletters with some call to action.

If all you do is send generic email marketing messages to your early stage leads over and over and over again, you’re missing the point. Consistency is good but being relevant and then consistent is even better.

To be truly effective, marketers must get over the “automated only” approach to lead nurturing (meaning there's no actual human interaction just a blind system that can't think). The point of nurturing is to build relationships and to do that we need to have a dialog between people that’s relevant and consistent. We need the human touch.

I was interviewed on the subject of lead nurturing by Jon Miller, VP of Marketing at Marketo and he writes the Modern B2B Marketing Blog.

Link: "Lead nurturing with Brian Carroll"

In the interview we discuss the importance of the human touch in lead nurturing, the best ways to encourage early stage leads to start an active buying cycle, and the ROI of thought leadership.

Lead Nurturing as trusted advisors with the Human Touch

In today’s commoditized business climate I think what sets companies apart with a complex sale is how well they build and cultivate relationships.

Over the years, I’ve observed a truth; and this truth will requires many sales people to reconsider how they think selling should be done.

The truth is, average sales people think they are most effective when they talk with someone WHEN they are ready to buy, but top performers seek to build relationships with the right people in the right companies BEFORE they're ready to buy.

This is where marketing can have a profound impact by helping their sales team go beyond the lead.

Today’s prospects have a general lack of trust and they simply don’t want to be sold. They are weary of pitches, hype, pushy sales people and manipulative marketing tactics. They are time constrained and too busy to think or strategize. So what do they do with most sales and marketing messages? They simply ignore them.

For this reason, I think it’s critical to contact and have initial conversations with our future customers that are devoid of sales pitches.  Quite literally when we begin a conversation with them, their attitudes and beliefs are being shaped, primed by the information they have already soaked up through various sources. 

Be a resource to them regardless of their timing to buy. Otherwise, they are likely to get information from the internet or uninformed colleagues, trade publications or heaven forbid your competitors. In other words, we need to move from lead generation campaigns to conversations.

Sellers can make the biggest impact early on in the buying process, or before it happens by developing relationships with potential clients and becoming a trusted advisor. The best way to do this is by starting with what we call the “human touch.” A personal phone call to the right person that is free of sales hype is the best way to build relationships that lead to positive sales results.

Relationship building with prospects is part of the overall lead nurturing process.

The goal of lead nurturing is to maintain a relevant and consistent dialog with viable leads - regardless of their timing to buy - until they are sales ready. A key aspect of lead nurturing is the ability to provide valuable education and information to prospects up front. In this way you will be able to position yourself as a trusted advisor and perhaps even a thought leader.

I was honored to speak at the Jill Konrath's Sales Shebang. Jill posted a summary of what I shared on the Selling to Big Companies blog. It includes specific tips on how you can leverage thought leadership to win more sales with lead nurturing.

Read: Leverage Thought Leadership to Win More Sales (with Nurturing)

Lesson’s learned from Podcasting

If you plan on entering the world of podcasting or want to make yours better, you can read what I’ve learned in my MarketingProfs article, "Lessons Learned from Podcasting."

Similar to blogging, podcasting is a medium that B2B marketers remain on the fence about. Are they worth the time investment? Should you start a podcast to generate leads? I would say probably not, at least if that’s your only motivation.

Podcasts work because they have an appeal of authenticity. There is power in the human voice. And that’s why they are a great way to positively inform and educate your audience. If that’s a goal you have, then read on.

Think of podcasts as content pieces to use as part a lead nurturing program. If you’re going to start podcasting don’t just do one and see what happens. A good podcast requires a commitment to do more than one to build your audience.

Here are some podcast ideas you can try:

• Ideas or tips of the day, week or month
• Talk radio complete with topic and call-in listeners
• Short interviews with thought leaders and industry experts
• Recording speeches, webinars or teleconferences for later distribution
• Promote an upcoming event by giving a preview of the speaker or content

InTouch Acquired by MECLABS Group, Parent Company of MarketingSherpa and MarketingExperiments

When I started the B2B Lead Generation blog back in 2003, my purpose was to have this blog be a launch pad for practical ideas, not commercials. So that’s why many of you probably don’t know what I do in my day job as CEO of InTouch. But today I’m making an exception. 

After a long partnership with MarketingSherpa as a featured speaker and presenter at their B2B marketing summits, we made the decision to be acquired by MECLABS Group, the parent company of MarketingSherpa and MarketingExperiments. Read the press release.

With this acquisition, nothing will change for InTouch clients, future clients, partners and employees. We'll keep our name, our staff, and office in Arden Hills, MN. I along with our executive team will stay intact and we will continue to focus on building the company.

I often talk about the need for a “human touch” in marketing to overcome this age of automation and depersonalization. I fervently believe the only way to drive sales is to feed this need for relationships.

What exactly does InTouch do? We’re a professional B2B contact center that provides clients with the essential human touch required to develop and convert more leads into sales.

At age 24, I started InTouch (then Carroll Communications) back in 1995 out of my apartment living room with a second hand computer and $350 (I’m not kidding). At the time, I hoped to make a living while making a difference with how companies acquire and grow customer relationships through B2B telemarketing.

In 1999, we acquired one of our clients with which we had developed awfully good synergies, iNETech, an IT consulting Services Company specializing in software application development and I gained two great business partners, Pat Lorch and Brandon Stamschror. The new name of the firm, of course, was InTouch.

Since then, our company has been executing lead generation programs designed to profile sales prospects, uncover viable opportunities and create demand. Core services include: teleprospecting, lead qualification, lead nurturing, lead management, and marketing automation tools. Peg Davis over at MarketingExperiments blog wrote a great post that explains more.

That’s why all of us at InTouch are excited about tapping into MarketingSherpa’s practical case studies and know how, and MarketingExperiments’ online laboratory to discover what really works. Together, we can profoundly change the way people think about lead generation for the complex sale.

Plus, now our research for you will be supplemented by the team at MEC Labs Group. They run an actual laboratory facility in Jacksonville Beach, FL, where they conduct live campaign experiments in partnership with folks such as The New York Times and Reuters.

I want to sincerely thank you all of you for reading this blog. I have learned so much from your comments and our conversations. This blog will continue. And I look forward to us learning, doing and sharing together what really works for lead generation for the complex sale. 

Think more, do less

Are you too busy to think? Many of us feel that way at times. As simple as it seems, finding time to think effectively is vital to developing a solid sales, marketing and lead generation strategy. Without question, our mindsets ultimately influence our strategic choices.

Which is why I think Michael Webb’s post on the subject of thinking differently and banishing waste from sales and marketing is very compelling.

Michael explains that one of the most valuable questions he asks sales and marketing teams is, “What kinds of things clearly add no value to your sales and marketing operations?” Webb has found that people react strongly to this question. He often hears the same feedback over and over. Such as:

• Time spent on administration, reporting, and menial tasks (leaving little time for customers)
• Trade shows and events that generate boxes of “leads” not worth calling on
• Marketing literature that no one reads
• Wasting time with the wrong prospects

I see these same things too. So, instead of spending time looking at ways we can to create more of the same activity, why not think about how you can focus on what your internal and external customers really care about?

Where's the passion in B2B marketing?

I spoke yesterday at MarketingSherpa's Demand Generation Summit and I felt led to go off topic for a bit to address why I do, what I do. Personally, I've been pondering the idea of passion and what role it plays in our careers as marketers or leaders.

Read Mike Volpe's summary of my presentation at the the Small Business Hub Blog.

In my short aside, I ended up talking about things we marketers often don't talk about. Our heart. What drives us? What role does the heart play in our job as marketers?

How do we create relevance for ourselves, our colleagues, and those future customers we hope to reach and influence?

Can you market something without passion and still be successful? If so, why would you want to?

I've wondered how we can be passionate advocates to others outside our companies if we don't have close relationships and trust inside our companies?

To me, disharmony is the enemy of execution. I liked something Seth wrote a while back, "...just about every successful venture is based on an unoriginal idea, beautifully executed." I agree.

In this age of automation, depersonalization, scoring and measurement, I'm not seeing the "human touch" in B2B marketing. So how can we humanize the process and actually build relationships?

Lead reengagement gives you more out of your investment

The year-end push is on and I know you may be wondering what else can I do to drive more revenue with little or no remaining budget?  I've found the best way is to focus on the leads you already have.

Lead reengagement is one of the most powerful ROI tools marketers have available to them. Why? You're getting more out of the money you've already spent by going deeper within the opportunities you already have. It seems like common sense, but the reality is, I know of very few companies that think about it, because they assume it's the salespeople's job.

That's why I thought you'd find these two articles published this week in BtoB Magazine relevant. They each explain a little known aspect of lead nurturing called lead reengagement.

In the following article, I'm interviewed by BtoB writer Christopher Hosford and share some trends in what he calls lead recycling (I prefer to call it lead reengagement) and I explain what we do at InTouch.

Read Effective Re-Engagement Gives You More Out Of Your Investment

In this article, Hosford interviews my friend and client Mikel Chertudi, senior director, online marketing and demand generation at Omniture. Mikel shares what Omniture is doing to optimize their lead reengagement process and drive more revenue.

Read Omniture Practices What It Preaches

B2B Lead management is far from an easy task

Companies that adopt effective lead management processes generate more revenue from their lead generation investment and have overall higher close rates on marketing generated leads than those that do not. But I've encountered very few companies that really do lead management.

What is lead management? Lead management is a multistage process that manages the conversion of sales leads to customers. Some people say it's the process of going from "first contact to close."

In Christopher Hosford’s BtoB Magazine article, he highlights some of the reasons why "Lead management far from easy task."

The article mainly highlight’s "lead scoring and automation," but that’s only part of the solution. Lead scoring and automation support a process of lead qualification, but I would argue that there are more fundamental aspects of lead management that often get overlooked.

Take a moment and think about your lead management efforts... do you see it as process? 

Practical Strategies for Generating Quality Leads Teleclass

I'm doing a bunch of live and in-person speaking events this fall. If you can't make any of them, I'll be a guest of Michael Stelzner as part of his monthly teleclass series.

Michael is author of Writing White Papers and he invited me to do an interactive 1-hour teleclass focused on providing real-world ideas and tactics for lead generation. The class is named "Practical Strategies for Generating Quality Leads." I hope you can join us.

Get class details here

On Alignment between Marketing and Finance

Many marketers are quickly approaching their favorite time of year.  Okay, not really. I'm of course talking about budget time.

When I see the challenge that marketers face when it comes to getting their budgets approved, I wonder why it has to be so hard?

Last year, I highlighted a report  by MarketingSherpa which concludes that marketers need to do a better job capturing and communicating their value.  According the MarketingSherpa research, "...only 17% of B-to-B marketers we queried were sure their CFOs understood the value of lead generation programs."

Last week, I read a short BtoB article by Carol Krol that shows that this continues to be a challenge. Her article summarizes some new research by the Association of National Advertisers in conjunction with Marketing Management Analytics.

MarketingSherpa Demand Generation Summit 2007

Click here now to buy a ticket to the Demand Gen Summit and get a copy of my new book: "Lead Generation for the Complex Sale" Register by 9/28 For a $100 Discount

You're invited to join me at MarketingSherpa’s Demand Generation Summit at your choice of Boston (Oct 15-16) or San Francisco (Oct 29-30.) I’ll be speaking on “Blogging, Podcasting, Speaking Gigs, & Book Authorship: How to Generate Leads and Measure ROI as an Authority.”

Some of the other topics include: New B-to-B Search Marketing; Maximizing White Papers, Ezines Webinars & Podcasts; Marketing to Fortune 500; Video, Viral & Web 2.0 B-to-B Marketing; How to Measure & Manage Leads and more.

I hope you can make it. Register here

The One Piece Of Advice You Can't Generate Leads Without

The staff at Raintoday approached a group of B2B lead generation experts with the following question: "What is the one piece of advice you simply cannot generate leads without?"

The result was a special 36-page report with 10 all-new articles (mine included) aptly named "The One Piece Of Advice You Can't Generate Leads Without." I think you'll find it valuable.

Download your copy 

B2B Marketing and lead generation via Social networking

Have you dipped your toe in the water of social networking yet? And if not, should you start? That's a question I know a lot of very busy B2B marketers ask themselves which is why I found Tessa Wegert's ClickZ article on "Facebook as a B2B Marketing Tool" interesting.

In the article, Wegert highlights how some marketers are experimenting with using the Facebook site for proactive marketing and build targeted niche networks and B2B communities.

I've been using LinkedIn for several years because it's geared more for business people. But I’ve heard the audience demographic of the Facebook is now moving from being focused on college kids to becoming a place for adults.

Overall, social networking sites are proving to be great tools for job seekers and recruiting. But I still wonder about the value of social networking tools for lead generation and business development that Wegert's article brings up.

Closed Loop Marketing Isn't Software

I recently spoke with a reader who was struggling with his closed loop marketing process. I'm sharing part of our conversation so that other readers may benefit.

He explained that his company had invested "big dollars" to install a new marketing automation software system. It promised to deliver better ROI measurement for their marketing campaigns. I could hear his frustration when he said, "But we are still unable to close-the-loop and measure ROI on most of the sales leads we pass to sales." 

Off topic: Response to meme - 8 Random Things About Me

Ardath Albee, over at Marketing Interactions, tagged me for a meme "8 random things about me." Let me see... random…

Okay this is off the top of my head:

1. I’m the oldest of three
2. I disliked writing until I started blogging (nearly 5 years ago)
3. Seriously thought about being a musician / song writer
4. I love books and I'm a voracious reader
5. My "too read" pile of books is still 3 feet high!
6. I love road biking with my wife (want to bike across Europe)
7. I’m going to write another book... but when?
8. I’ve visited 49 out of 50 states (Alaska some day…)

Well that's about as random as I could get. Ardath, thanks for the tag.

Content ideas for lead nurturing and tactics to use

When it comes to lead nurturing, I find that many marketers get stuck because they lack enough good content to do it consistently. My advice (if you plan to do it) is to start accumulating content and building your lead nurturing library ASAP.

How do you build your library of relevant lead nurturing content?

A lead nurturing program can leverage existing investments that you have made in other marketing tactics such as events, white papers, contributed articles, or any other thought leading content. Third-party resources and content can also be effectively utilized to bring you an aspect of credibility through the the halo effect.

Webcast: Closed-Loop Lead Generation & Management

Join me for a complimentary webinar on how to "Achieve a Closed-Loop System for Lead Generation and Management."

In this webcast, you'll learn how to:

• Identify and overcome the 5 barriers to closing the loop
• Get feedback on all leads to “close the loop” 100% of the time
• Qualify leads and hand them off with out "dropping the baton"
• Identify your lead generation tactics that drive the most leads
• Make sure that all qualified leads are fully pursued by sales 
• Develop a measurable marketing pipeline that drives the sales 
• Connect your tactics together for better ROI measurement

Update: the event went really well. And I've got a lot of great feedback and questions.

You can now watch the recorded archive

Thank you to ON24 for sponsoring and to the AMA for hosting the event.

7 Tips to Improve Sales Follow-up & Close More Leads

If you are like most B2B marketers, lead generation is at top of your priority list. But as you may already know, generating tons of “leads” doesn’t guarantee sales will follow.

Does the sales team either ignore your hard-won leads or complain about their quality? Do you ever wonder was the lead even contacted? If so, what’s the status?  Could you have helped move it along by going deeper in the sales cycle?

This chronic lack of visibility has a snowball effect of making it challenging for marketers to measure their effectiveness and understand their return on marketing investment (ROMI). So what can be done about it? 

Here's 7 Tips to Improve Sales Follow-up

1. Get buy in from sales team on your "sales ready" lead definition
2. Provide qualification information for each sales lead
3. Qualify and Distribute sales ready leads immediately
4. Communicate hand off to sales person
5. Measure sales pursuit - If lead not followed up it will be pulled / reassigned
6. Regularly close the loop -what gets measured gets done
7. Sales management must also audit and track rep follow-up

How often do you close the loop? I’ve found the most powerful way to improve sales follow-up on marketing generated leads is doing more frequent sales and marketing huddles.

Read Collaboration Huddles and 35 Other Ways to Improve Sales and Marketing Teamwork

Finally, if you’re using these tips already and still feel that your marketing and sales teams are working against each other instead of being on the same team, you could have some challenges with office politics read on.

9 1/2 Ways... to Generate and Follow Leads

Often people are looking for a single superior tactic to give them all the leads they need. Instead, I've found it's better to think of lead generation as a portfolio and use multiple tactics.

In his article for Fuel Marketing writer David Ward shares 9 ½ techniques to generate leads without spending too much. I was interviewed for this short article along with Bob Bly, Tino Buntic and Guy Maser.

If you're involved in a complex sale, I'm sure you'll find a few of the 9 1/2 tactics on lead generation relevant.

Here's a quick summary of Ward's 9 1/2 points:

1. Get on sales and marketing the same page.
2. Don't ask for too much too soon.
3. Learn from your success.
4. Pitch the problem, not your product.
5. Act swiftly.
6. Diversify your approach.
7. Give so you can get.
8. Don't buy what you can build.
9. Know when to hold 'em.
½. Be consistent.

Read full article on Kiplinger's: 9 1/2 Ways... To Follow the Leads

Inquiry management and search marketing strategy

BtoB Magazine's Carol Krol interviewed Kevin Lee, executive chairman of Did-it Search Marketing on "Effective Search Strategies." I first met Kevin as a fellow speaker at MarketingSherpa's first Lead Generation Summit.

I liked what Kevin had to say when Krol asked him this question, "What are the top three things a marketer should be wary of when evaluating a search marketing strategy?" I think Kevin's points serve as a good reminder for web inquiry management.

I've summarized Kevin's three points:

1. Don’t be too Web myopic. Don’t focus exclusively on Web-based leads because typically in a b-to-b environment, a prospect may choose to communicate with your company by telephone or some other channel.
2. All leads are not created equal. This is true offline and online. Don't oversimplify. Qualify the leads first.
3. The velocity of inquiry follow-up matters. Your response time say's more about you then you realize. If your competition takes 24 hours to respond and it takes you days to respond, you’re in big trouble. And don't just send a canned response either.

BtoB Magazine: Effective search strategies

Early Stage Leads are too important for Sales People Alone

The management of sales leads is critical to generating Return on Marketing Investment.  Sadly, sales leads often land on the scrap heap because marketers throw leads over the wall and then expect sales people to catch them.

Last year, I linked to a David Meerman Scott's post, Sales Leads Are Too Valuable For Sales People Alone. He just wrote (round two) and I think it's worth checking out.

David writes, "...Salespeople may argue with me, but I think it is better at the early stages of the buying process NOT to pass names to sales unless the buyer is absolutely ready to move forward..."

I agree. The key is to match readiness of the buyer with expectations of your sales team. Otherwise you'll have a serious disconnect. You need to examine each lead ask if they are "sales ready" meaning they are ready to speak to a sales person.

Often when prospects have an identified need, they can spend months researching and seeking information on solutions that may satisfy that need. They are seeking education and information but would rather not talk to a sales person yet. This is why I think marketers should hold back and nurture early stage leads (with a human touch) on behalf of their sales team.

Off-Topic: On Selling Ideas in 1776

Fellow blogger Tom Pick, over at the The WebMarketCentral Blog tagged me to write something off topic, interesting, seasonal and non-work related this week. I liked Tom's off topic post (great pictures) chronicling his kid's deluxe tree house that began "innocently as a tree deck." I love learning history so I'll see if I can meet at least a few of the above conditions in my off-topic post.

In the past, I've written about giving away ideas. But lately I've been wondering about selling ideas. So yesterday – somewhere between family, food and fireworks – I had a chance to think a bit about the Fourth of July and how it came to be. I believe history provides us a valuable lesson on how to sell an idea.

While historians may debate about the controversies and motives behind the signers of the Declaration of Independence in 1776, they all agree that it represented two fundamental ideas; freedom and liberty.

But before the declaration letter was drafted and signed those two revolutionary ideas had to be sold. Here’s a story you may not know… I’ll give you a hint: before there was “voice of the customer” there was “voice of the people.” 

Podcast: Interview with MarketingSherpa's Anne Holland

Would you like some inspiration or some fresh ideas for your marketing and lead generation strategy?

If so, MarketingSherpa just released their “Business Technology Marketing Benchmark Guide 2007-08” and I had the privilege to interview Anne Holland about this year's findings. Very useful stuff. Download the Executive Summary

During our in-depth interview, Anne shares some terrific insights and helpful data on numerous marketing and lead generation tactics.

Three data points that I found particularity interesting:

1. Teleprospecting works. As we all know, tech buyers are a notoriously tough crowd to cold call. Sherpa's findings contradict the "calling doesn't work" line we've heard for years. Their data shows that over 50% of tech buyers admitted to short listing a vendor after receiving a well timed and relevant phone call.

2. Sherpa's data shows that more decision makers (not just influencers) are attending webinars and watching archived events. This indicates the importance of relevant educational events and online content for lead generation.

3. Companies who provided fewer but higher quality "sales ready" leads to their sale people have better sales conversion rates than those that send lots of early stage leads and that creating a "cost per lead" culture just does not work.

Listen to podcast now (31 min MP3)

Online Lead Generation and Management Strategies that Get Results

Back In 2005, I did an 11 City speaking tour sponsored by GlobalSpec to teach manufacturers how to become better at lead generation, lead management and lead nurturing. 

I traveled with Guy Maser VP of Marketing for GlobalSpec and I thought he had a great message about helping marketers get the most out of their internet lead generation investment. Today, his article in BtoB Magazine gives a great summary of his presentation from the roadshow and is worth a read.

Social Media Pundits Disconnect from B2B Marketing

As someone in B2B, do you feel left out of the social media buzz? I read a good article on "What’s Wrong With Social Media For B2B Marketing" by John Miller who also writes the Modern B2B Marketing blog.

John's article highlights something most of us in B2B marketing have come to accept. B2C marketing gets the vast majority of links and clicks while B2B hears the quiet sound of crickets chirping.

I remember when I started blogging in 2003 and there was only 11 true B2B marketing related blogs. Now there's are over a hundred. John lists about 80 of them on his blog.

John concludes, "The result is that there are fewer pundits and thought leaders writing about B2B marketing, resulting in fewer links to those early adopters who do write about business marketing techniques. And since links mean leadership on the web, the result is that the less-trendy subjects in B2B marketing—like marketing accountability and lead management—get left behind."

Personally, I think the reason B2B marketing receives less attention comes down to time and momentum.