B2B Lead Generation Blog

Five steps to help create your universal lead definition

I’m amazed that 90% of the companies I’ve talked with over the last six months lack a clear definition of a sales lead really is – that is their sales and marketing departments don’t agree on a universal lead definition. By not asking and answering a few critical questions, these teams are working inefficiently, wasting time and money, and in effect, crippling the bottom line. Teamwork is the only way organizations can achieve maximum ROI.

To get your lead generation program on track, I recommend that your organization start by creating a universal lead definition. By following these five steps, you’ll create a definition that not only works but that gets better over time.

Steps for defining a universal lead definition:

1. Meet - Get those who are marketing and those who are selling together in a room or on a conference call. You need a leader/facilitator with "street credibility." The premise of the meeting is that we're all in this together.

2. Ask this question to sales team: “For us to be 100% certain that when we send you a lead that you will act on it and provide feedback on 100% of the time, what do you need to know? At what point do you consider a lead qualified?  Now shut up and listen. Dig. Dig. Dig. Everybody must play.

3. Don't stop with just one meeting. Summarize the notes from your meeting and have another meeting to clarify and make sure everyone is satisfied with the definition. You need to have a strong consensus.

4. Publish the Universal Lead Definition everywhere so people who are involved in new customer acquisition are reminded often about their target and objective.

5. Close-the-loop via huddles before leveraging software. Sales/Marketing should meet bi-weekly to review if the lead definition is still accurate. Ask questions like: Was X a lead? Did they enter the sales process? Why or why not? What else would you like to have known about this lead? How can we improve? What should we stop doing? What should we start doing?

It won’t take long to reap the benefits.  And, I guarantee you that improved ROI won’t be the only one.

Related Posts:

Closed Loop Feedback: The Missing Lead Generation Huddle

On Lead generation: Insist on lead quality over quantity

Under increased pressure to help drive revenue in this challenging market, many of us are tempted throw as many leads as we can to our sales team.

We can tell ourselves that more leads is better because it lowers the cost-per-lead and gives the sales team more activity. But don’t be one of those lulled by this false sense of security. If you really want to make a difference in your company’s sales, dig deeper. Focus on metrics that go beyond cost-per-lead, and more importantly, focus on quality first then quantity.

Do you know how many of your leads are actually impacting the sales pipeline? I've done numerous lead qualification programs have shown that as little as 5 to 15 percent of all inquiries turn out to be truly sales-ready opportunities. And while there are other influences such as sales training and refining the lead handoff process, lead quality stands out as the single largest factor driving the real ROI of our lead generation programs.  

5 Lead nurturing tips to create relevant and engaging emails

A recent MarketingSherpa survey of email recipients found that 58% of those who stop reading, disengage, or unsubscribe after cite "lack of relevance" as a key factor. This is hugely important because most marketers rely on email as their main lead nurturing tactic.

As B2B marketers, we should have it drilled into our brains that relevance must be an essential part of our lead nurturing touches. But be honest: How well are you really connecting with your audience?

I encourage you to look beyond your unsubscribes and find a true measure. Start by considering all those prospects that are simply ignoring your emails. I read a blog post on by Steve Woods on "Emotional Unsubscribes" that's definitely worth checking on this topic. 

It’s a common phenomenon. I receive emails often from companies that “know” me, but their emails certainly don’t show it. Their creative and graphics-laden emails don’t speak to my concerns at all. And each irrelevant message I receive is basically programming me to ignore or delete future messages from them. I don’t even bother to unsubscribe. I'm sure that's not their intent but they are missing the key idea of relevance.

So, how do we align better align our email and nurturing messages with what is relevant to our audience? 

Consider the following 5 ways to build more relevance into your emails: 

Tip 1. Stage in the buying process: Be sure to provide different kinds of information to your prospect based on what point they are in the buying process. If you have a complex sale, the best way to I know how to do this is to combine a human touch to build relationships with your lead nurturing message. If they are an early stage lead and they are just starting to get familiar with the business issues you solve, don’t send them the same copy that you would send someone who is on the verge of making a decision.

Tip 2. Industry vertical: Industry information will more than likely tell you what pains your prospects are experiencing, while company size will give you a hint as to the resources they have available to tackle these challenges. Be sure to add this information to your marketing data often so that you can easily define your target segments based on these indicators.

B2B Lead Generation Roundtable Group on LinkedIn

A few weeks ago I wrote a post called 5 steps for using LinkedIn as a lead generation tool and step number five was ‘create your own LinkedIn group and share relevant content.’

Well, last Thursday I launched the B2B Lead Gen Roundtable Group on LinkedIn. I wanted to create a group to discuss and share ideas that focus on the many aspects of B2B lead generation such as lead nurturing, lead management, teleprospecting and more.
 
I’m jazzed at how fast the group is growing and even more excited about the discussions that are already taking place.

My first question to the group was if lead distribution should be fair or optimized? What do you do? Do you invest your hard won leads on your top performers or do you try to help your weaker sales people? In this economy should we take a Darwinian view of lead generation and focus on helping the strong sales people get stronger?

What’s your take on lead distribution? I’d love to hear what you have to say.

Join the B2B Lead Gen Roundtable group and let me know your thoughts.

Using Kaizen to improve your lead generation results in 90 days or less

B2B companies need a systematic approach to lead generation, yet, I’m constantly surprised to find that most do not have one. Michael Webb, President of Sales Performance Consultants, and I met a few years back when I began writing my book and he was working on his.

Over time, we came to realize that our approaches to designing and implementing lead generation process were complimentary. Michael uses the Kaizen approach, which is a method of driving improvements based on evidence and data, and for establishing a system that continuously improves results.

I was recently interviewed by Michael for an article: “Using Kaizen to Improve Your Lead Generation Results in 90 Days or Less.” In the article, Michael and I look at the problems with lead generation and share research conducted that addresses these challenges along with the following topics:

• Collaboration: lead generation and sales Kaizen
• Creating information offers to generate leads
• Developing content for lead generation campaigns
• How to organize a fast attack on lead generation problems
• Five steps to lead generation success

Read Using Kaizen to Improve Your Lead Generation Results in 90 Days or Less

Losing Leads and Sales With Bad Search Marketing Decisions

There are so many tools that help marketers with their search marketing but marketers have to know how to use the analytics in order to focus on the right things to generate leads and sales.

So often I find that marketers are only looking at conversion rates of how specific phrases or banners perform and are ignoring other valuable information. While conversion rate is one way to measure the effectiveness a search phrase, it can be extremely misleading.

I came across an interesting article by B2B Internet marketing consultant Todd Miechiels, and I liked what he had to say about those B2B marketers that make bad decisions based on “solid analytics data.”

Marketers need to look at more than the quantity of conversions. Quality is just as important. If you look solely at what phrases convert a higher percentage of whitepaper downloads, for example, you could be missing the fact that another phrase brought in 2 or 3 of your top prospects, which in the long run, could be better for your company.

Todd goes on to say: “If you are spending thousands of dollars per month on search marketing and not capturing visiting organizations (both those that convert and the many more that don't), you are shutting down phrases and scaling back campaigns by using only half the truth. Equally as dangerous, you are likely routing dollars toward phrases and ad creative that appear to perform better but in reality are merely clogging the marketing database and sales pipeline.”

According to Todd, there are three things you should remember:

• Make sure you're capturing and reporting on visiting organizations referred by specific search phrases.
• Factor in the number of legitimate organizations you've captured when assessing the effectiveness of your search terms and campaigns.
• Don't fall into the trap of optimizing campaigns based solely on quantitative conversion data.

 Don’t clog the pipeline. Take Todd's advice and take the broader view.

Here's some related posts:

Web analytics for b2b lead gen
Tracking ROI for web generated leads

5 steps for using LinkedIn as lead generation tool

Like many of you, I’m using LinkedIn to connect with work friends and colleagues. But I’ve been intrigued by how LinkedIn has quietly developed into a useful lead generation tool for marketers and sales people to build relationships with potential customers.

I’ve discovered that it’s a pretty simple process if you’re willing to invest the time to freely share your expertise and thought leadership with others.

Here are 5 ways you can generate leads via LinkedIn:

Step #1 - Create a polished and personally branded profile on LinkedIn. Start connecting to your current and past contacts - focus on connecting with contacts where trust already exists.

Step #2 - Join LinkedIn groups where your clients/customers gather and participate.

Step #3 - Post relevant content on groups. Start building your credibility in the group by sharing relevant content. This can include things like relevant blog posts, links to articles you have written, articles that quote you and event notices for webinars etc. Be sensitive to the dynamics of your group and don’t dominate the conversation!

Step #4 - Answer questions posted on LinkedIn. Answer questions that are relevant to your expertise or something you're passionate about.  Group members often post questions on LinkedIn. Answer them and demonstrate your expertise and add value to the conversation. You can also visit LinkedIn Answers.  

Step #5 - Create your own LinkedIn group and share relevant content. Starting your own group gives you control over its content and reach. You can choose to open the group only to people you know or if appropriate, and you have the time, you can open it up to a larger audience. The goal is to engage your audience and leverage your thought leadership to make a difference with members of your group.

Here are a few other resources that have helpful tips on using LinkedIn for lead generation.

Ford Harding’s blog: Leads from LinkedIn

Hubspot blog: LinkedIn's Little Secret: It's a Great Lead-Gen Tool

What have your experiences been with LinkedIn for lead generation? Which LinkedIn Groups do you find the most useful as a B2B Sales person or Marketer and why?

Sales and marketing alignment: tips for getting it right with lead generation

According to the 2008 Miller Heiman Sales Best Practices Study, only 37% of respondents agreed that their sales and marketing organizations are aligned in what their customers want and need. I discussed this disconnect with Bill Golder in the February issue of Sales & Marketing Management. You can check out the interview online: Chronicles of a Sales Leader: The Lack of Sales and Marketing Alignment in Organizations Today.

I firmly believe that organizations that perform match readiness of the buyer with expectations of their sales team. The unrealized potential can be likened to the batteries in a flashlight. If the batteries aren't inserted in the right direction, or are otherwise out of proper contact, their power is unusable. My experience confirms that this communication breakdown affects nine out of ten companies. Bill asked me what advice I would give these organizations that are struggling with alignment. Here are the five tips I shared with him:

1. Sales and Marketing must collaborate on defining leads and marketing objectives. You can make a huge impact by focusing first, on creating an Ideal Customer Profile (company-wide, for each product, service or solution). Then, create the Universal Lead Definition of a "sales-ready lead." Finally, connect the marketing/sales process to customer's buying process.
2. What gets measured gets done. Connect sales and marketing metrics together.
3. Create relevant content for each stage of the customer buying cycle.
4. Focus on the data points you REALLY need to measure in your CRM.
5. Clarify your value proposition now! Does your sales team have sales-ready messaging?

In developing a lead generation program, it is incumbent on marketers to view the sales team as the customer. It's no different than directing a consulting firm project where the client is involved in each stage of the project. The sales team should become so integrated that it has program ownership just like everyone else.

There’s a lot more good info discussed in this interview so be sure to read the full article here. Thanks to Bill and SMM for giving the opportunity to share.

MarketingExperiments B2B Landing Page Web Clinic Contest

I will be hosting a MarketingExperiments Web Clinic along with MECLABS Sciences Group Director, Dr. Flint McGlaughlin, this Wednesday, February 25 at 4 pm EST. This clinic is special because it will feature an interactive contest. Ten B2B landing pages will be selected to vie for a grand prize: a free landing page assessment (worth $5,000). Attendees of the clinic will be voting for who they think most deserves the makeover.

You don’t have to submit something in order to participate in the clinic. And, get this: you can win prizes by just making contributions to the discussion.

Visit the MarketingExperiments Blog to see 5 recent B2B Landing Pages that were submitted and analyzed by the MEx Sciences Team.

Watch the clinic on demand now

Read the summary

Looking for a little marketing wisdom?

Well, I’ve got, oh about a hundred suggestions for you all courtesy of MarketingSherpa’s latest Wisdom Report.

Sherpa’s free report is filled with mini-stories from our colleagues in the marketing world who have learned through trial and error. The topics of this year’s report touched on just about every aspect of marketing out there – from tradtional tactics to Web 2.0 and mobile marketing.

According to the editors at Sherpa, there were three main trends represented in this year’s edition:
1.    Email  - It’s clear from this book that email isn’t dead. In fact, it’s far from it. Sherpa editors noticed that marketers are looking for ways to tweak their email correspondence. Marketers are personalizing messages more than ever, segmenting their lists to create the most focused targets possible, and are testing to the hilt. You could learn a lot from the stories included in the email section.

2. Build Social Networks - Marketers are starting to see the value of building relationships using LinkedIn, Facebook, YouTube, Twitter and blogs. There are some interesting “Case Studies” that will hit home for marketers investigating ways to integrate social media marketing into their 2009 plan.

 3. Search Engine Optimization - It seems that more and more marketers are focusing on making their websites search-engine friendly.  Marketers give advice on everything from making PPC more affordable to concentrating on niche keywords. One marketer shares how 2008 was the turning point that made him realize that after 25 years in the business he had to get with the program.

Download a copy here today