Archive for the ‘Sales’ Category

3 Keys to Successful Social Selling

Monday, April 22nd, 2013

“Social selling” is getting quite a bit of coverage and discussion these days and I suppose this blog post is evidence of that.  Sales (and marketing for that matter) have always been social disciplines because they involve interacting with other people directly and in a meaningful way.  The presence of technology in the mix is designed to make this human interaction more efficient for both buyer and seller as well as enhance the time together – not about replacing humans with machines.

So how do you implement a successful social selling program?  Start with these three guidelines and you’ll be off to a great start.

1. Be helpful, answer questions

The great thing about social media is that it gives a voice to an individual that can be shared as they choose – to their social graph, to a group, or to the world.  This creates a great opportunity to engage in a helpful and meaningful way when a question is broadcast or need identified.  This is not the place for a sales pitch.  If you can help answer the question or otherwise prove you are knowledgeable, then you are headed down the right path.  The time for “the pitch” will unfold naturally and, in many cases, without you having to formally deliver it based on the prospects own research.

2. It’s all about timing

Social signals go stale fast.  You should aim to respond in minutes if not hours.  Wait for the weekly report and you are toast.  Respond in a real-time format like Twitter days late and you are completely out of context.  Q&A sites like Quora are a bit more forgiving but always best to answer early rather than late.  To do this, you have to either have a program in place to monitor these channels and act as they come up or use something like our Nearstream offering which is specifically designed to give you the most actionable social signals via Twitter with minimum effort (we’ll even send you a daily summary for you to act on).

3. This is just the beginning

Back to the point about sales and marketing always being social pursuits for this one.  Rarely does one interaction lead to a sale and social is about beginning conversations that lead to meaningful relationships.  Take the long view on social as a place to find and acquire customers and it will pay huge dividends.  But, just as importantly, be vigilant to balance the time invested with the results you are generating.  Steer clear of vanity metrics like followers, favorites, or likes as evidence of success.  They are delivered at extremely low transaction cost and have very low meaning as it relates to true customer engagement.

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What's Your Lead Velocity Rate (LVR)?

Monday, March 4th, 2013

If you run a recurring revenue business (SaaS, etc.) then this article by Jason Lemkin is well worth reading.  He points out that the best leading indicator of sales pipeline performance is your Qualified Lead Velocity Rate (LVR) which measures your growth in qualified leads month over month.  Jason knows a thing or two about this having been the co-founder & CEO of Echosign which is now part of Adobe Systems.  Here’s a great quote that drives the point home:

“But there’s a better metric, your Key Metric, you should track and score yourself to, and hold your VP Marketing and marketing team to – Qualified Lead Velocity Rate (LVR), your growth in qualified leads, measure month-over-month, every month. It’s real time, not lagging, and it clearly predicts your future revenues and growth.  And it’s more important strategically than your revenue growth this month or this quarter.”

Read the whole thing here.

We would love you to try out LoopFuse here.

To find out exactly what LoopFuse does, click here.

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Move Beyond Basic Email Marketing with Prospect Activity Information and Automated Follow Up Emails

Tuesday, January 22nd, 2013

Most businesses at a certain stage of their marketing maturity understand that an email marketing program is an efficient and cost-effective way to communicate with customers and prospects.  Products like MailChimp, Constant Contact, Vertical Response, and iContact (now part of Vocus) made this capability accessible to even the smallest of businesses.  This further leveled the marketing playing field between small and large companies.

The same can be said of marketing automation.  No longer just for the largest companies with the biggest budgets, marketing automation is accessible and affordable for businesses of any size.  We are very focused on this with LoopFuse and, in addition to our unlimited time free trial, we have paid offerings starting at just $275 per month.  This makes the ROI on a marketing automation investment quick and meaningful.

So why should a company think beyond a basic email marketing approach?  The impact of a one-off single email campaign can be positive but is limited if it does not include the following two pieces:

1. Prospect Activity Information – this includes not only what email campaign(s) a prospect received and their open/click activities but their site visits and pageview activity.  This information combined with email campaign activity yields a lead score which helps your sales team better prioritize their time based on a measure of prospect engagement beyond an open or click in an email campaign.  Email campaigns become even more effective when utilizing a list segmentation approach that can create groups of prospects not only on email campaign activity but pages visited, information requested, etc.

2. Automated Follow Up Emails – once a one-off email campaign is completed, the marketing team will create/share a list of who opened the email and/or clicked on the offer included with sales.  This manual hand off can be automated via Salesforce.com integration and personalized follow up emails can be sent from a designated salesperson after a selected wait time (a day or two).  Proper follow up drives a high performance sales pipeline so adding this automated follow up activity ensures proper and timely follow up.  You can even create different messages based on different activity (open, which link clicked/page viewed, etc.)

The bottom line here is that you can do everything you are doing now for email marketing with a product like LoopFuse AND reap the benefits of adding prospect activity information and automated follow up to the mix.

We would love you to try out LoopFuse here.

To find out exactly what LoopFuse does, click here.

To add LoopFuse to Salesforce.com, click here.

You can follow LoopFuse on Twitter here or join us on our Facebook fan page here.

Increase prospect & lead capture rates ... create an "Engagement Zone"

Tuesday, September 13th, 2011

Organizations are employing a variety of digital sales and marketing tools, channels, content and practices to generate awareness and traffic to their web assets. The percentage of that traffic converted to contacts, prospects, leads and actual business is woeful.  Why is that, and what can we do? 

Marketing’s Expanding Complexity and Closer Role with Sales
Marketing has changed dramatically over the last 5 years, where prospects and customers need to be engaged on their terms with relevant content, engagement and respectful communication. Marketing’s role has also expanded and coexists more with sales than ever before, especially as 90% of all purchases are researched online and decision makers no longer want to talk to sales until they are 60-70% down the decision cycle.

The purchasing process has also changed significantly, and so must your ability to create and leverage your digital ‘assets’. Marketing must attract and move prospects much deeper into the funnel than ever before, intelligently monitoring and engaging them with easily accessible content and automating more self-service until they are ready to connect with sales or business development.

Missed Opportunity + Need for Funnel Management
The diagram below shows how a mix of digital and traditional marketing creates traffic to a company’s prime online asset, its ‘master’ website. Once the traffic has arrived (at the top of the sales and marketing funnel), today’s tools and techniques used to engage/capture/convert are limited and ineffective. The discipline of digital funnel management is foreign to most companies, but is essential to generate strong ROI from marketing investments. Generating 25%, 50% even 100+% more business from digital traffic is absolutely possible with intelligently placed content + innovative conversion tactics/tools (such as Loopfuse).

What Limitations with Today’s Online Conversion Strategies Do We Need to Overcome:

  • Few attempt to engage visitors/prospects at all stages of the funnel. Engaging only at the bottom (ACTION step) of the funnel via a phone number and Contact Us form misses 80% of the opportunity to capture/nurture prospects until ready to close.
  • Few automate the nurturing of prospects until they are qualified leads ready to be closed by sales, and most allow leads to slip through the net due to human mishandling.
  • Few effectively enable access and distribution of marketing content at the right stage of the decision cycle.
  • Most websites are ‘leaky’, losing prospects that would like to take a next step but are not ready to contact sales, and have no other available call to action or engagement step.

Create an “Engagement Zone”

One way to overcome these limitations is to create an “Engagement Zone’ that integrates content access, next steps, calls-to-action and marketing automation.  This zone is so much more than a ‘Contact Us’ form as it should include all the possible options for connecting with your company, with the prime intention of allowing a visitor to select a next step or piece of content that would enable them to identify themselves to you.  That is the lowest conversion stat of them all; 2-3% of websites earn the respect of a visitor so they identify themselves and become a contact.  Execute this effectively and a greater % of those contacts will be genuine and not mickey@mouse.com.

Rather than try to explain in words what an engagement zone is, take a look at a couple of examples out in the real world.  Click on the “Take Action Now” orange button at http://www.mikewittenstein.com/ and see an engagement zone appear.  There are 7 menu options which provide ways for a visitor to take a next step and educate themselves more.  Another example is at http://www.banyancapital.com where the zone is accessed via the ”Quick Info Access” green menu option.  This one has 8 options for a visitor to engage.  Tying marketing automation behind this type of  engagement and capture solution ultimately creates more business out of the bottom of the funnel.  It connects with visitors, prospects and leads no matter where they are in the funnel, as it can be designed to deliver content at the appropriate funnel stage. For example, you could have a menu option called “Competitive Benchmark” for someone evaluating your product(s) or service(s).

Once you have your engagement zone in place, take the next step which really can supercharge your contact and lead generation …. engage people from any digital location, placing links to your zone directly in content delivered via:

  • Company Blog(s)
  • Thought Leadership
  • LinkedIn/Facebook
  • Feeder/Community Sites
  • Online Ads/Adwords
  • Emails/Texts/QR Codes (e.g. add links back to the zone from inside emails for next steps or additional content)
  • Links in Current Website (e.g. for a PDF download link on a product page, point back to the zone)
  • Links Inside Collateral

An important point to note here … by bringing a visitor/prospect/customer into your zone, they are able to see other engagement options and may well connect in additional ways, increasing the acceleration down your funnel.

The idea of an engagement zone makes sense in many ways, so consider designing one for your organization, and let me know the improvement in your capture and conversion stats!

Regards to all,
Andy McCartney
andy@imccmarketing.com

3 Steps to Preparing Your Organization for Marketing Automation and How Sales Plays a Role

Tuesday, July 26th, 2011

It may be called marketing automation, but be careful not to leave sales out of the equation, especially during the planning stage prior to implementing a marketing automation solution. Below are three processes that sales and marketing should collectively establish to achieve the greatest possible return on investment from marketing automation. (more…)

3 Loopfuse Sales Handoff Tips

Friday, June 24th, 2011

Making Loopfuse work with your sales process is more than just integrating Salesforce.com and Loopfuse.  That is merely the technical aspect.  The process and synchronization of sales activities with marketing automation must be thought through, implemented and adopted by your team to extract maximum benefit from your Loopfuse implementation.

To drive Loopfuse success here are three tips which you can use to have maximum impact on converting leads: (more…)

The Loopfuse Exchange: Sales & Marketing Best Practices

Monday, October 4th, 2010

With the highly successful launch of our Loopfuse Freeview offering in June and our innovative Partnership program in August, we have had several requests to share information amongst our community.  So today, I would like to informally introduce the Loopfuse Exchange.  The goal for the Loopfuse Exchange is to share the best practices from some of the best sales and marketing professionals in the business who give their companies a competitive edge.  The Loopfuse Exchange will be the place to visit for the most up to date sales and marketing best practices, and central to the Exchange will be a series of articles on various marketing functions — contributed by Loopfuse customers, partners and friends — that will help new and experienced marketers alike increase their effectiveness generating market awareness and demand. Topics will include Website construction and design, Customer Relationship Management (CRM) systems, Lead Nurturing and Scoring, Search Engine Optimization (SEO), Pay per click (PPC) advertising, Social Media and Networking, E-mail marketing, Event marketing, Search Engine Marketing (SEM), Reporting and more.

Later this afternoon, we will have our first guest blog post for the Loopfuse Exchange by one of our partners, Greg Malpass of Traction Sales and Marketing.  Stay tuned for more exciting information on the Loopfuse Exchange.

Straight from the Horse's Mouth (Interview Sales)

Wednesday, September 29th, 2010

If you want to know what’s happening with your customers, start with your sales team.  Nobody should have a better perspective than sales.  They are in constant contact with the customer and are highly compensated for their ability to establish and grow relationships.

Success in sales is tied to the ability to understand a client’s problem and translate that into a solution that can be delivered.  As it so happens, that’s exactly what’s also needed for truly effective marketing.  As a starting point, therefore, you need to get out there and talk to your sales team.

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How you can make life easier for your sales team

Friday, September 3rd, 2010

Getting qualified leads to your sales team cannot happen fast enough. When I think back on the days when I used to send spreadsheets full of leads to each individual member of my sales team based on territories, I cringe. That was the best way I knew how to show them where a lead came from, where it had been or simply what type of company they worked for. This type of information is invaluable to a salesperson. But so is there time – time is money and so back to my original point.  You need to get qualified leads and all the information that goes with them to your sales team as soon as possible. We all know that spreadsheets flying all over the place is not the answer.

What is the answer, your CRM, the place where salespeople live and breathe. Make the information accessible to them the minute they login to their place of record for everything they do – log calls, log emails, convert leads and forecast their pipeline. By providing your sales team with this information every time they call on a new lead you are making both of your lives easier. They are presented with all the qualifying information they need to have an interactive conversation with the prospect and you are not troubled with the manual processes of sending sales members spreadsheets full of leads.

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The Future of Marketing Automation

Wednesday, June 16th, 2010

Over the last couple of years, particularly in the marketing space, nothing has been hotter than the marketing automation space.  The promise of doing more with less, speeding response times, and focusing sales efforts on the most likely prospects have held wide appeal during these lean times.

Looking to the future of the space, however, I think the near term promise is going to have less to do with the automation and more with the data capture.  As digital begot social, and social continued to fuel the adoption of digital it cumulatively is changing the face of marketing.

When the current crop of marketing automation tools was built email marketing was pretty much the centerpiece of an online strategy.  Connect an outbound email to eventual web site behavior and you really had something.  Largely this really is no longer the case.  Email is rapidly approaching extinction as an acquisition vehicle.  Today you need more diversity in your mobile mix that equally represents web, search, email, display, social syndication, social engagement, and some cases mobile.

One of the most intriguing early features of marketing automation was the ability to spot and track the behavioral trends of customers.  Steven Woods over at Eloqua did a great job of describing this in his book Digital Body Language.  As digital volumes grow his perspective becomes more and more relevant.  The challenge now lies in figuring out how to do this in the multi-channel, digital world.

The future of marketing, all marketing, lies in the ability to craft relevant offers to much smaller audiences.  What will fuel this is the ability to capture integrated customer profiles that span all the relevant channels.  Customers are sharing more data than ever before and the smart marketer will use that to inform their creative, improve their offers, and begin a dialog with their customer.