B2B Lead Generation Blog

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?

According to this ITSMA interview with Chip Heath author of What Makes Things Stick, we need to overcome the curse of knowledge.

Heath say’s, “B2B marketers have a very high standard of communication that they have to impart. A group of psychologists and behavioral economists has called this ‘the Curse of Knowledge.’ As we become experts, it becomes harder to imagine not knowing what we know.”

In other words, as we develop our individual areas of expertise and live it out in our companies, it actually makes it harder to communicate with those outside out company. This could be part of the reason some might struggle explaining their job (i.e. what you do) to family and friends.

Heath’s focus is on this idea of “stickiness” he found that for our ideas to stick in people’s minds, they must be concrete. But the reality is that most of our business language is far from concrete.

I've summarized the 6 themes that Heath covers in his book that are consistent with sticky ideas:

1. Simple - get to the essential idea, the most important idea should leap out
2. Unexpected -blast preconceived notions causes people to stop, think and remember
3. Concrete - use real-world analogies to simplify complex ideas
4. Credible - do you have a trust worthy reputation? If not, people will ignore you.
5. Emotional - people often decide based on emotion and backfill with logic
6. Stories - we're wired to pay attention to stories and stories can be retold

I found this related MarketingProfs article, "How to Use Imagery to Create Memorable Messages" by professor Debbie MacInnis interesting. MacInnis describes new research about combining concrete words with imagery to make more memorable branding messages and “the power of the internal movies that consumers generate themselves.” Please note: this article was written from a B2C perspective but as I think about it I see B2B applications too.

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)

Show Agenda  

• Benchmark data that B2B all marketers must know
• Fresh ideas and best practices for lead qualification
• Why you should capture and track all web inquiries in your CRM
• How many buyers/influencers in the typical F500 buying process (hint: it's big!)
• Sherpa's unexpected data on B2B telemarketing (teleprospecting)
• Useful data on lead management and lead nurturing
• How webinars are reaching more decision makers than you would expect
• Common email mistakes (and why mobile devices matter more than you think)
• How and why high quality content is important and influential to buyers
• Why fewer leads is better (the CEOs role) and why "cost per lead" budgets fail
• Distinguishing characteristics of top performing marketers
• Unconventional research that will improve your corporate website homepage

The Business Technology Benchmark Marketing Guide features data on numerous marketing and lead generation tactics especially valuable. They also have practical data on search, email, PR, direct mail, lead generation, trade shows, podcasting, telemarketing, budgeting and more. They interviewed over 1000 marketers, plus this year they gathered in-depth research from 4,658 actual business technology buyers.

If you are a marketer for a company that sells technology, I encourage you to get a copy of this report. It will definitely help you better budget, forecast, and benchmark your marketing results.

MarketingSherpa: Business Technology Marketing Benchmark Guide 2007-08

How Lead Nurturing Improves Lead Generation ROI

I know there's a lot of emphasis on lead generation (that's a good thing) but, getting a ton of leads doesn't guarantee that increased sales will follow. In a complex sale, my experience is, most of the selling actually happens when the sales person isn't there.

Startling as it may seem, recent research (and even studies from ten years ago) shows that longer-term leads (future opportunities), often ignored by salespeople, represent almost 80% of potential sales. You can increase your odds success by adding a lead nurturing program.

What’s lead nurturing? Lead nurturing is all about having consistent and meaningful communication with viable prospects (those that are “a fit” for your solution) regardless of their timing to buy. It’s not “following-up” every few months to find out if a prospect is “ready to buy yet?” Lead nurturing about building trusted relationships with the right people.

Continue Reading at the INSPIRE SmartMarketers.com Blog (a new blog I'm contributing to monthly) presented by Netline.

On June 6th, I’m doing a webcast on a multimodal approach to lead nurturing as part of ON24's Wednesday Webcast with Experts Series. I hope you can make it. Register here.

On building the Lists for B2B Lead Generation Programs

Would you buy this business card? When you buy a list of names, you are basically buying business cards on a list. But there is no such thing as buying the perfect list, especially if you have a complex sale.

A study by John Coe and the Sales & Marketing Institute showed, “70.8% of business people changed one or more elements on their business cards each year.” My experience has been been around 45%. But in either case it's a big number.

Let's say you want to invite, via e-mail, a specific group of individuals in your database to a webinar or webcast. Or perhaps you’d like to do a targeted, direct-mail campaign to a select group of people on behalf of their salesperson. Could you do it with confidence? Most of the time, I’ve found the answer is "no.”

The goal is not to try to buy the biggest list possible, but instead build the most relevant list possible based your ideal customer profile.  The best list is one that you have diligently created and rigorously maintained over time with excellence. So where should you start?

I have found marketers often overlook the lists and data they already have in search of new contacts rather than building upon relevant conversations. 

Companies don’t buy; people do. The goal of a well-developed lead generation strategy, therefore, is to evolve relationships between people through dialogue that positions your marketing effort as a conversation (not a compaign) to identify, initiate and nurture productive selling situations.

Related Article: BtoB Magazine: Unisys gets boost from good data

I recommend you start by collecting all of your existing in-house marketing lists into one place. These are lists that you may already have on hand, from sources such as:

• Sales team – key accounts and collected business cards
• Strategic partner or pooled lists (cooperative opt-in)
• Inbound phone, email and web inquiries
• Past events - trade show, webinar, and seminar attendees
• Newsletter subscribers
• Marketing campaigns, such as direct mail or teleprospecting lists
• Past customers

Note:  Bring your database administrator in on the list build project as early as possible.  You will most certainly need their expertise in massaging and de-duping the data.

Marketing and sales can also work together to build a list from inactive accounts in your sales team's CRM data and business cards from industry conferences and networking events.

Utilizing existing in-house lists is the best place to start building your framework. Once the in-house lists are collected and combined, they can be evaluated for compliance with your ideal customer profile (target market). You’ll find at this point that that your list needs further enhancement.

At InTouch, we recommend that clients acquire a basic list that has the main attributes of their ideal customer profile and overlay that with their internally compiled data. Then use additional third party list sources to fill in missing companies and contacts.

There are many external list sources available, and each has its benefits and drawbacks. When buying data from an external source, you need to consider the following:

• Are you renting or buying the list? Many list companies only rent a list, which means you are only allowed to use them for a specified time period, a specific number of times, or for a specific marketing campaign, such as a direct mail piece. This type of list does not work well for an ongoing lead generation program.
• What data is included? Lists should include basic demographic data. Some lists, intended for direct mail, do not include phone numbers or contacts. Those lists would have limited value for lead generation.
• Usually, I have found that the best company level data lists come from data companies like Dun & Bradstreet or InfoUSA. These lists include all of the demographic data typically needed, and have extended contact information. The drawback, however, is that they are general business lists; so in some cases, you’ll need to cast a wide net to get records that fit your ideal customer profile and if your goal is to reach anyone other than top executives you will have to add additional contacts yourself.

Other sources of names or lists:

• Trade associations
• Trade shows
• Trade conferences
• Standard Rate and Data Service (SRDS)
• Public libraries like HillSearch.org
• New social networking tools or community based contact information sharing tools such as Spoke, LinkedIn and Jigsaw.

Even with these expanding options in list building sources the drudgery of careful research is sill the most productive course of action, because you best understand the nuances of your ideal customer profile.

Your database will become one of your most valuable assets if you treat it like one. Keep your database it current and you won’t have to worry about buying more questionable business cards and you'll see better ROI from your lead generation investment.

Podcast: Marketing and Sales for Big Complex Selling (pt 3)

I wanted to share the final installment from the podcast series I did with 800-CEO-READ.  In this podcast, Todd interviewed me and Jill Konrath on the critical interface between marketing and sales. 

Here's what Todd says about it:
"Here is the final installment to our podcast series on marketing and selling to big companies. We again have Jill Konrath and Brian Carroll talking about the topic. What we try to spend time on in this call is "space" shared between marketing and sales. Brian leads the call with the stat - "80% of leads sent from marketing to the sales organization are lost, ignored, or discarded." You can see why this is a good topic to explore."

Listen to podcast now (MP3 35:56 min 24.68 MB)

Visit 800-CEO-Read Podcasts to hear the complete three part series

Podcast: Marketing and Sales for Big Complex Selling (Pt 1)

I had a great time chatting with Todd at 800-CEO-READ on lead generation. This is the first of three podcasts 800-CEO-Read is doing on B2B sales and marketing.

Here's what Todd says about it:
"In this podcast, I talk with Brian Carroll, author of Lead Generation for the Complex Sale. Next week, I interview Jill Konrath, author of Selling to Big Companies. In week three, I bring Jill and Brian together to talk about the interface between marketing and sales."

Like many of Todd's podcasts; this one is a high-level discussion geared for business leaders and those who support sales people. While you're there, I encourage you to take some time to visit 800-CEO-READ's other websites. They are a super resource for anyone who reads business books.

Listen to podcast now (MP3 43:47 min 30.1 MB)

E-books: A Hip and Stylish Younger Sibling to the Nerdy Whitepaper

If you’re reading this, it’s likely that you are a reader of other blogs. As such, you’re probably aware of the growing number of e-books available. So what's the deal? 

Fellow e-Book author David Meerman Scott just wrote an article for MarketingProfs.com that's really helpful. Titled E-books:  A Hip and Stylish Younger Sibling to the Nerdy Whitepaper, it’s an interesting and educational read about the nature of the phenomenon, its purpose, style and definition. He gives some great advice on how to create your own eBooks too.  BTW - I'm using the spelling of e-books and eBooks interchangeably until we all agree on how to spell it. 

Just like blogs and podcasts, e-books are a terrific way to spread ideas, engage conversations and generate demand.  David not only compares them to the older whitepapers, but also discusses their use as a valuable marketing and lead generation tool. My e-book was even included on his list successful of examples of the genre.  So “get hip” and read this article. 

Speaking at MarketingSherpa's B-to-B Demand Generation Summit 2006

I'm speaking at MarketingSherpa's Demand Generation Summit being held in Boston and SF this fall.  I've worked out a special promotion with MarketingSherpa -- you’ll get a complimentary autographed copy of my book and a $300 discount on the Summit if you register by August 31st.

This should be just in time to inspire you during your fall budget and planning season. Meet experts; mingle with your peers; and discover new data, strategies, and tactics (includes search, podcasting, email & microsites). 

Please note, you must click on this link to register so you can get the discount and free book (that's the only way our good friends at MarketingSherpa can identify you as qualifying for the complimentary, autographed book offer).

Webinar: Lead Generation Strategies for the Complex Sale

Join me for a complimentary webinar this Thursday, August 17, 2006 at 1pm EDT.  This action-oriented session will provide tips and best practices that you can put into practice immediately.

When you leave this session you will:

• Learn 3 proven lead generation strategies that deliver results
• The most effective ways to get sales and marketing alignment
• See the most effective tactics used for an integrated marketing program
• Know how to identify and prioritize your best prospects
• Hear what's working to develop a dialog with executive level buyers

Register here

This event is sponsored and hosted by WebEx Communications, the worldwide leader in online meeting applications.

New complimentary e-book - Start with a Lead: Eight critical success factors for lead generation results

My latest project is ready! I just published a complimentary new e-book titled Start with a Lead: Eight critical success factors for lead generation. Please download it and pass it on.

According to studies, the single biggest challenge for contemporary B2B marketers is effective lead generation. Conversely, it has been pointed out that 80 percent of marketing expenditures on lead generation are wasted because the leads are lost, ignored or discarded by sales people.

Marketers today are constantly reminded that the company needs more sales leads...now. Unfortunately, that immediacy is quite often at the direct expense of quality. Instead, marketers should adopt and tailor lead generation programs that will increase the odds of creating better sales leads and relationships that will ultimately result in long-term, happy and profitable customers.

In this e-book, you will learn how to develop high-volume, high-quality lead generation programs for your company. It was written for business leaders, managers and marketers who want to help their sales team sell with highly qualified business opportunities, because sales people should only be brought in when a lead has been qualified as “sales ready.” 

Download Start With a Lead: Eight critical success factors for lead generation

Podcast: Interview on the Cullinane & Green Report

I was interviewed by podcasting experts Joe Cullinane and Roger Green on the Cullinane & Green Report. I encourage you to check out their other interviews with Mike Bosworth, author of Solution Selling and co-author of CustomerCentric Selling and Jackie Huba co-author of Creating Customer Evangelists too.

During this podcast, I share my thoughts on how to use technology tools like podcasts, blogs and RSS for new business development and lead generation. 

Listen to podcast now (36:26 minutes)

Direct mail for the complex sale that really works

With the proliferation of e-mail and its resulting abuses, direct mail has become almost a novel approach by comparison. Because it performs so well in other arenas, many marketing practitioners believe that direct mail will do the same for their B2B lead generation programs.

But when it comes to the complex sale, not only is direct mail ineffective by itself, but it is also frequently used incorrectly and even abused too. In reality, direct mail is simply being asked to do more than it is capable of doing. Direct mail in the traditional sense is not effective - especially if you are trying to reach executives - unless you do the following things:

1. Target narrowly vs. blast a large audience
2. Use as a follow up contact instead of as an initial contact

Even though direct mail may not be as flexible, immediate, or economical as e-mail, if done with a high level of personalization and targeted to the appropriate players, it becomes almost an unexpected form of communication that affords another meaningful way to engage prospects.

The workhorse of business-to-business direct mail is still the one-page, personalized letter sent in a #10 envelope. Though it may seem old-fashioned and probably not very creative in today’s scheme of such things, well-chosen words in a short letter can perform wonders when they are part of a multi-modal lead generation plan. 

Jim logan gives us a great example of how do an effective direct mail letter for a complex sale on his blog Direct Reponse Works. Jim was my go-to resource when I wrote the direct mail chapter in my book. 

Check out his posts:
What’s Wrong With This Letter?
Closing Thoughts On The Letter

The most common issue I see with direct mail in the complex sale is poor targeting. It seems that many marketers consider their database an afterthought. Outdated, unqualified, incomplete databases just won’t cut it today. Simply having a good list, from any standpoint, does little more than maintain the status quo. The database needs to contain the right people working with in the right companies.  Check out my posts on how to improve your database: 

Why don't sales people update the CRM and what can be done about it?
How do you update contact data?
Lead generation ROI depends on data quality

Podcast: Duct Tape meets Lead Generation for the Complex Sale

I'm a guest on the Duct Tape Marketing Podcast today hosted by John Jantsch.  John's Duct Tape Marketing Blog was chosen as a Forbes favorite for small business and was twice named "Best Small Business Marketing Blog" by the readers of Marketing Sherpa. While you're visiting John's blog, be sure to subscribe to his newsletter. It's terrific. 

Listen to podcast now

PR Has New Rules for Reaching Buyers Directly

In launching my book, I didn't want to rely on the same time-worn lead generation tactics as everyone else. A normal book launch involves sending press releases to the media and then hoping and praying that overworked and overwhelmed journalists (who doesn't know you exist already) will suddenly see you on the radar...I mean, come on. That's so “book launch 1.0” (thanks for the idea, Debbie Weil). 

Simply put, the web has changed the rules for press releases. You can now reach your potential customers directly with your PR. This is called PR 2.0. 

Has your PR firm told you about this yet? If not, the reason may be this...many PR professionals resist direct-to-consumer PR. Just like many marketers resist changing the way they do lead generation from “campaigns” to “conversations.” 

Another important reason is that it's hard to admit you are powerless to start, control and mold your message. Just like you can't dominate a conversation without risking that people may tune you out. The key is that you need to listen first, ask the right questions, participate and be relevant. 

David Meerman Scott, author of Cashing In With Content, wrote a post on direct to consumer press releases today as discussion leader on the IAOC blog.  He features my recent book launch as a direct to consumer news release case example.  It all began in this conversation, Direct-to-Consumer News Releases: Do they suck?

If you have not read it already, I recommend you get David’s free e-book “The New Rules of PR." It explains how to create a press release strategy for reaching buyers directly.  It’s made a world of difference to me. 

New Book: Lead Generation for the Complex Sale is officially released

The wait is over! My book, Lead Generation for the Complex Sale, was released this morning. You can read the press release or listen to my podcast about it. 

I liked what Bryan Eisenberg, New York Times and Wall Street Journal bestselling author of Call To Action and the new book Waiting for Your Cat to Bark? had to say: 

"The lead generation game has changed in the age of the Internet. If you don't have this new playbook your competitors will. Brian Carroll closes the loop on lead generation, taking you from defining a lead, thinking like your prospects, tactics to increase lead generation, passing leads from marketing to sales, measuring the results, and nurturing the leads for increased revenue. If you don't read and then apply lessons from Lead Generation for the Complex Sale, then let me know how things work out for you."

Read the book announcement press release

Listen to the book release podcast (7:43 min 7.12 MB)

Download a free chapter

For the real thing, order on Amazon. You can find the book at your local Borders or Barnes & Noble and other bookstores. For multiple copies, order on 800-CEO-Read (Call Meg at 800-236-7323 ext. 206 CST.)  For the buzz on the book, read reviews and news. More about the author.

Update:  The book made its debut in Amazon's top 100 (sales and marketing books) today.  Debbie Weil author of The Corporate Blogging Book calls my book launch an example of Book Launch 2.0. 

Lead Generation for the Complex Sale on wsRadio.com

I just did a 40-minute live interview on the Online Marketing show with RSS Ray broadcast by WS Radio.com, the world wide leader in internet talk radio.  A podcast version of the show is available via iTunes or the host website RSSRay.com.

During the interview, I share new ideas for generating B2B customers and talk about my book, Lead Generation for the Complex Sale, that's being released next week.

Click here to listen to the recording. 

Book Cover and Advanced Praise for Lead Generation for the Complex Sale

We're quickly approaching the official release of my book, Lead Generation for the Complex Sale : Boost the Quality and Quantity of Leads to Increase Your ROI.  Also, my book got a new cover!  (click image to enlarge) 

I'm humbled by the incredible endorsements that I've received for the book so far. You can read the advanced endorsements here, more here, and via my new book website before they're posted on the major on-line bookseller websites. 

For those who pre-ordered the book, it will arrive with the new cover in June.  I just got my first shipment of author copies and they look great!  Thanks again! 

Lead generation with Podcasts

The audience for podcasts is tiny, when compared to other marketing mediums, but growing especially, in the context of the complex sale.  Podcasting is proving to be a great way share multimedia content because your audience can fetch it automatically or when it fits their schedule. 

Podcasting is already successfully used for:

• Talk radio complete with topic and call-in listeners where voice mail boxes can play the audio into the podcast.
• Ideas or tips of the day.
• Short interviews with thought leaders and industry experts.
• Recording speeches or teleconferences for later distribution. 

A new article in BtoB Magazine by Karen J. Bannan on podcasts caught my attention.  Bannan's article examines how John Costigan Cos. is using podcasts to generate sales leads and revenue for their sales training events. 

I'm going to share some ideas on how to use podcasts for lead generation with podcast expert, Joe Cullinane over at the Cullinane & Green Report some time in the next week.  Joe just did did an interesting podcast with best selling author, Guy Kawasaki.

Link: BtoBOnline.com: Firm showcases owner's personality with podcasts.

Webcast: 8 Critical Success Factors for B2B Lead Generation

Join me for a complimentary webcast on Thursday, March 16th at 2pm EST.  I'm speaking on the "8 Critical Success Factors for B2B Lead Generation Success" along with Mark Organ, CEO of Eloqua.   

Watch the recorded webcast archive now

During this webcast, I will share the most critical – and often overlooked - factors in successful lead generation including:

• How to combine sales and marketing to optimize the number of leads
• Preventing lulls in your sales cycle
• Developing Universal Lead Definition (ULD) and ideal customer profile (ICP)
• Building, maintaining and growing your database
• Multi-modal lead nurturing - a crash course
• Ready yourself for what's next - new and promising tactics
• and more...

Register for this webcast registration is closed. Watch the recorded webcast now

Sponsored by Eloqua, provider of the leading integrated demand generation platform for executing, automating and measuring highly effective B2B marketing programs.

Generating Real Sales Leads from Tradeshow/Conferences

Aaron Ross over at "Building The "Sales Machine"  shares some great tips on trade show lead generation.  Ross writes, "You need a process that emphasizes quality of leads over quantity of names." 

I agree.  Well meaning marketers can ruin their lead generation results by rushing an unqualified list of tradeshow attendees to their sales team.  After doing numerous lead qualification programs, we have found 5% to 15% of trade show inquiries are truly sales ready leads. 

So don't pass marketing driven inquiries to your sales people until they're more rigorously qualified as sales ready leads.  Early stage leads - those who are not ready to speak to a sales person yet - can be developed further with an effective lead nurturing program. 

Link: Building The "Sales Machine": How to Generate Real Leads from Trade show/Conferences.

Consistent Lead Generation Pays Over Long Term

In many ways, the disiplines of B2B and B2C marketing and lead generation are different.  But, Scott Mason's article in DM News, written primarily for B2C marketers, illustrates an important truth for us all: Lead generation isn't just about instant gratification. 

Mason writes:

The perennial rewards of lead generation are reaped from patient tending to potential customers over time. My CEO reminisced about a call from a client who raved about the ROI boost from a lead generation campaign that he canceled almost a year earlier. Now that the client was earning three and four times the return on his original lead generation investment, he realized the error he made by canceling the campaign.

I would add that consistency is required too.  Good lead generation identifies, initiates, and nurtures relationships with the right people, regardless of their timing to buy, until they are sales-ready leads. 

Link: DMNews.com | News | Lead Generation Pays Over Long Term

Podcast Segment 3: Selling to BIG Companies

Segment 3 from my 1-hour live interview with Jill Konrath, Chief Sales Officer and author of Selling to Big Companies.

Listen to Segment 3: Selling to BIG Companies (13:58 min 3.2 MB)

• Why do you hate unique selling propositions? 
• If they don't work, what do you recommend?
• How do you develop an account entry plan? 
• what's causes sellers to have difficulty getting into BIG organizations?

Marketing That Reaches Decision Makers In Big Companies

I was quoted in an article on B-to-B marketing in Marketing News, a publication of the American Marketing Association.  The article entitled, "It Takes a Committee to Buy into B-to-B," by Staff Writer Allison Enright, focuses on how marketers can connect with decision makers in big companies. 

If you're doing marketing or lead generation for a complex sale, you'll want to read it.  Normally, this article would only be open to American Marketing Association Members but InTouch was given special permission to share it with readers of the B2B Lead Generation Blog.  Enjoy. 

Here's a brief excerpt of the article:

If you think finding the right person to target with your business-to-business marketing is harder than it used to be, you’re right. The number of people involved in a purchasing decision is filling up the boardroom, according to Sirius Decisions Inc., a marketing and sales information services company in Southport, Conn.: In 2005, 3.5 more people on average were involved in making a purchasing decision than in 2001.

With so many people weighing in on a decision and no clear go-to target, marketing and salespeople are evaluating the best way to go about making a connection.

“The challenge is to create a dialogue from sales and marketing, and we need to be a lot more intelligent with our approach. People who are lower in the organization used to make decisions, but now it’s the boss’s bosses and involves more of a team approach,” says Brian Carroll, president of Arden Hills, Minn.-based sales qualifying service InTouch Inc., and author of Lead Generation for the Complex Sale."

Read full article "It Takes a Committee to Buy into B-to-B"

Reprinted with permission from Marketing News, published by the American Marketing Association, Allison Enright, February 15, 2006, Pages 11 - 13.

It's a New Year for Lead Generation for the Complex Sale

Greetings and happy New Year!  Wow, I haven't posted here in a month but I promise you will see a lot more activity soon.  In the meantime, I wanted to give you an update.

During the past month, I've put all of my energy into getting my first book, Lead Generation for the Complex Sale, to the finish line.  I got this milestone e-mail (for a first time author) from my editor at McGraw-Hill.  She wrote, "I just put your book in production!  Congrats.  It’s in great shape.  All the final edits you made really helped to polish it off even more.  Well definitely go out and celebrate tonight.  I know that you’ve worked really hard on this manuscript and it’s turned into a fantastic manuscript."

So after 14-months of writing, editing, writing, editing, and re-rewriting again, I'm "done!"  Seriously, this has been a labor of love and I hope this book profoundly changes the way people think about lead generation and makes a huge impact. 

Though there are scores of books on direct marketing, branding, advertising, marketing tactics, PR, varied sales approaches, cold calling, etc., I have yet to find a text that addresses the comprehensive approach to lead generation for the complex sale like mine. 

I'm awaiting an official release date but Amazon currently shows April 15th... yes that's Tax Day.  To those who have already pre-ordered the book, thanks!  You can pre-order it here. 

E-Mail Marketing Relevance Tips And Resources For B2B Lead Generation

Universally, marketers love to use e-mail marketing for nurturing and cultivating future opportunities with their target audiences.  On the other side, I've heard numerous speakers and bloggers declare e-mail marketing dead.  That’s simply not true. 

E-mail is a one-to-one medium, nothing more, nothing less.  The development of an effective e-mail program depends on how much you know about your target audience and how well you use that information to tailor a relevant message.  The key is message relevance and program execution.

For example, I get some numerous e-mails from companies that know me (in some cases I'm their customer!) but their e-mails don't show it.  Their "creative" and graphics laden e-mail messages don't speak to my concerns at all.  So each irrelevant message (my vendors and potential partners) send is basically programming me to delete future messages from them. 

My point?  Be relevant with each e-mail message.  Your objective should be to take full advantage of the unique characteristics of e-mail in creating meaningful communication that is at once attention-getting and informative... in a style easily perceived to be directed exclusively to me, the recipient.  It should feel like it came from a human being not a mailing list. 

Here are a couple of good resources on e-mail marketing that came out this week:

If you have a larger audience, this article explains some testing concepts to improve your messages.  BtoB Online: E-mail testing

MarketingSherpa just released their annual report on e-mail marketing.  Be sure to read their free executive summary, it contains useful tips for B-to-B lead generation.  You can download a free executive summary of the e-mail marketing report(pdf).

Winning the Complex Sales Cycle with Thought leading Content

David Meerman Scott shares some great ideas on how to leverage your thought leading content on your website.  I agree. For lead generation, the concept of thought leading content should go beyond the website.  This is where lead nurturing fits in. 

Lead nurturing is all about having consistent and meaningful communication with viable prospects regardless of their timing to buy.  In the complex sale, we need to continually remind ourselves that companies don't buy - people do.  People buy on emotion and back fill with logic.  BTW - Bob Bly has a great discussion on, "Do People Buy Based on Emotion or Logic?"  So why is this important?

In every buyers mind, there is fear, uncertainty, and doubt.  Customers are weary of pitches, hype, pushy sales people and manipulative marketing.  Here are some of the questions your potential customers may be asking right now:

Is the company credible and solid?
Is there another company that is better?
Will your solution really work for them?
Budget: Can I afford it?
Vision: Will buying from you make a difference?
Is it going to be successful? Is this worth doing?
Can I trust you and your company?

Relevant content is key. Lead nurturing is about sharing content that helps people find the answers to these questions and reminds them of the benefits of working with you.  People want to work with trusted advisors.  People who truly "get them."

By combining content with lead nurturing, your potential customer’s inner dialog should eventually say the following: “You and I have been talking for quite a while. You understand me, my company and my industry. You have given me useful and relevant ideas around this issue. You have helped me sell this idea to my colleagues and they understand and accept this idea. I realize this is going to be a challenging project but I think you can do it. Okay, let's get going.” 

Web Ink Now: Shorten the Complex Sales Cycle with Web Content.

Using Thought Leader Content as a Lead Generation Tool

Telemarketing is the top lead generation tactic

The phone is the number one tactic to generate leads according to the Direct Marketing Association's 2005 Response Rate Report which shows the following: 

Telephone, dimensional mail, e-mail, and coupons provided the best response rate results for generating leads. Telephone leads all media with the highest response rate of 5.53 percent. Dimensional mail was close behind at 5.28 percent, and e-mail produced an average response rate of 3.39 percent.

The data came from over 500 campaigns from 21 industries and tracked 19 different tactics including: outbound telemarketing, direct mail, search marketing, and e-mail among others.

Thanks to Carol Krol over at BtoB Magazine for pointing me to the report. DMA Report shows telemarketing is the top lead generation tactic 

New Cartoon Series Depicts "Sales Lead Hell"

Building off my last post, I wanted to share something fun... a new cartoon series by MarketingSherpa called "Sales Lead Hell."  The series was created to promote the 2005 Lead Generation Summit. 

Each cartoon gives some pithy insight into the sales and marketing "feud."  I got permission to post a recent cartoon from the series. (click image to enlarge) 

Get your "Sales Lead Hell" cartoons here

Participate in MarketingSherpa's IT Marketing Metrics Survey

MarketingSherpa just launched their 2nd Annual IT Marketing Metrics Survey.  This Survey is focused exclusively on IT Marketers. 

I worked as an advisor to MarketingSherpa's metrics editor, Stefan Tournquist on the project.  Based on what I know so far, this years “IT Marketing and Metrics Guide” will raise the bar again. 

IT Marketers - if you have often wondered how you compare to your peers, make sure you participate in this survey.  Everyone who participates in the survey will receive a complimentary Executive Summary of the results. 

Participate in the 2nd Annual IT Marketing Metrics Survey

Give Lead Generation Some Respect

Dean Rieck argues that lead generation is the Rodney Dangerfield of marketing - some give it no respect.

Reick shares the following tips:

• Get buy-in from executives and sales
• Create your follow-up plan first
• Offer something valuable and free
• Get your offer to the right people
• Track everything
• Focus on ROI
• Review progress regularly

DMNews.com: Give Lead Generation Some Respect

Paper Direct Mail is Not Dead

Jim Logan tells us why Paper Direct Mail is Not Dead.  Jim also shares ideas on how to leverage direct mail and combine it with other lead generation modalities to capture a higher response rate. 

You don't need to spend a ton of money on direct mail to reach top executives.  A simple, well written letter (hand addressed) in a #10 envelope can be just as powerful as flashy packaging or expensive 3-dimensional mailings.  What ever you do - do not execute a direct mail campaign like this creative lead generation blunder.

If you need a resource to help you get started with reaching executives with direct mail, here's a decent book, The Power to Get In by Michael Boylan.  He explains step-by-step how to write executive access letters that leverage your contacts sphere of influence (most people can skip the first 4 chapters).

Check out, Lead Generation Via Direct Marketing is Coming Back, and read the section on how to prevent bad data from trashing your sales lead ROI. 

Revised Lead generation strategy map for complex sales

To be successful at generating leads for a complex sale, marketers can't rely on one specific tactic but rather they need to leverage a portfolio of tactics.  It begins with a mindset that see lead generation as an ongoing conversation - with human beings - that's both multimodal and iterative.  Not just a campaign. 

I had a bit of writers block as I was working on my book last night.  I went back my earlier mind map and I revised it.  Hopefully I made it better.  (Click image to enlarge)

Are there any tactics/modalities that I'm missing? 

Download lead generation map.pdf

Okay back to writing...

Lead generation modality map for complex sales

I asked InTouch client, Cheryl Hatlevig of Adesso Systems, to share her philosophy on doing lead generation for the complex sale.  She has a brilliant perspective that I wanted to share. 

"I look at our lead generation efforts, specifically in this economy, as a financial portfolio. If I can’t measure the tactics or programs in terms on return on invest to the organization…leads generated, business closed, opportunities in the funnel, then why should I expect the company to invest in my fund."

I agree her completely - lead generation for the complex sale requires a holistic, disciplined and multi-modal approach.

A while back, I did some brainstorming for my forthcoming book, Start With A Lead: Lead Generation Strategies for the Complex Sale, I mapped out some of the main lead generation modalities.

Here's the lead generation modality mindmap that I came up with. (Click image to enlarge)

Are there any tactics/modalities that I'm missing? 

Creative lead generation blunder?

I just heard about a “creative” lead generation campaign (second hand) that made me wince.   

The company behind the campaign does commercial leasing and counts roughly 80% of the Fortune 1000 as their customers -- so they’ve done quite a few things right.  However, this so called “creative" lead generation program might be a strategic blunder. 

The pitch
The company sells to senior executives big companies.  They created a 3-dimensional direct mail package including two baseballs signed by Mickey Mantle, Willie Mays and three baseball stands.  Now, if you’re a baseball fan that sounds incredible huh?

I bet you know what’s coming… if you agree to meet with us, (no obligation of course) we’ll bring you a third base ball signed by (drums please) baseball great, Hank Aaron. 

Swing - it's a hit!
Needless to say this campaign generated a ton of executive appointments.  I wonder if these marketers (who probably are strutting around over their spectacularly program) have traced the appointments netted by the “base ball” campaign back to either new customers or new leases originated (real revenue)?  I doubt it. 

My experience is that most companies celebrate the quantity of appointment activity but the revenue results from the appointments are seldom measured.  If that happened here...

Foul ball! (Sorry - I couldn’t resist) 
I don’t get it? What do autographed baseballs have to do with commercial leasing?  This “creative" lead generation campaign seems very um, un-creative and a cop out.   

Marketers who use expensive premiums like this are practicing what I call “appointment bribery.”  I can only imagine that their marketing team ran out of good ideas that articluate their value proposition or they simply gave up and chose the path of least resistance – buying access.   

Getting past home plate (okay - I'll stop it)
The real goal of lead generation is to help the sales team - sell by connecting your value proposition with your audiences need.  Sales people must be meeting with those who have a clear initiative, want to do something about it and meet your lead definition of being sales ready. 

That’s not someone who wants the "free" expensive gift.  I can’t imagine what the campaign cost in dollars but I can only guess at the soft costs of wasting their sales people’s time. 

Numerous studies show that companies (with complex sales) don't see increased revenue from getting their sales people more appointments.  In some cases, it will negatively impact revenue. 

A recent report by Aberdeen Group, “Sales Effectiveness: Helping Sales Sell” concludes, “The number one issue for most CEO's and Marketers is lead generation - getting more leads to their sales team." The number one desire for sales people however, is MORE selling time with “sales ready” opportunities. 

On last thought, if I became a customer, I would wonder how they could afford to spend money lavishly marketing to me, then haggle with me over percentage points of interest on my lease?  I would rather they save their money and focus clearly demonstrating that I could trust them to help my company save money. 

Should marketers buy access like this?  Why or why not?

Disciplined Lead Qualification improves sales performance

Recent studies show that sales people want selling time more than sales leads.  Best practice driven companies are recognizing that it is futile to continue to pass marketing driven inquiries directly to sales before they are rigorously qualified as "sales ready." 

Last week, I visited with a CEO who was really upset with his marketing team because he felt they were generating a lot of "junk leads."  He said, “I don't think my sales people will invest any more time calling marketing generated leads until I pay them to do so.”  That may sound extreme but numerous studies have shown that 70 - 80% of leads are never contacted by a sales person. 

We must realize that the extreme time pressure salespeople face—especially those with a complex sale—requires them to ignore what is not immediately relevant and highly likely to produce revenue. Why? They are not paid to do anything else. And that makes quality more important than quantity to them.

Today's article, in MarketingSherpa, is on point because it argues that marketing must drive the entire lead qualification process.  In addition, they found that phone calls aka telemarketing is the single best way to qualify leads and provide some great tips on how to do it right.  How to Qualify Sales Leads for IT Products & Services via Telemarketing

Related post: How to ensure every single lead is followed up on

My company has tried and tested a number of different lead qualification and scoring approaches for our clients.  We have found that using the phone - aka teleprospecting - is the single best way to qualify leads as part of a overall lead management process.  No other tactic is as accurate when it comes to collecting the qualitative information salespeople require to justify pursuing a prospective lead. The phone is timely, interactive, and personal—the perfect combination of assets for building a relationship.

Marketing Wisdom for 2005

MarketingSherpa just released a new e-book, Marketing Wisdom for 2005.  It contains 105 real-life marketing tips and lessons.  I contributed lesson #52 (on lead generation of course) in the B-to-B Marketing section.

You can download your copy free 2005 Wisdom for 2005

White Papers that Generate Leads

The folks at HRmarketer.com wrote a great post (a while back) on how to get maximum exposure for your White Papers and generate more sales leads.  Their post shares some helpful ideas on how to improve your White Paper's visibility via marketing efforts and PR. 

Link: White Papers = Sales Leads