by tradesmeninsights | May 9, 2012 | Marketing Tips, Marketing Tools, Traditional Marketing
I’ve been around this crazy business for over 35 years, and one of the biggest issues still today is handing off leads from marketing to sales. You would think that with all the technology today it would be easy, right? Not the case!
Several years ago, marketing would generate leads for various sources and pass them onto sales for follow-up. Then one day someone from the C suite asked how much new business are we getting from our promotional efforts? Marketing said we developed X amount of leads and Sales would say they were all crap. Obviously the finger-pointing wasn’t going to solve the question of how much new business are we getting.
Thus started the process of lead management, qualification, nurturing and at some point turning it over to sales with a little more history behind the leads than there were several years ago. Russ Hill from Ultimate Leads calls it the “Transition Zone.” It is the place in time where marketing hands off the lead they so carefully nurtured to sales to close the loop. But in order to do it successfully, you must have a process that everyone is in tune with, and sales needs to make sure to keep info on that lead current in your lead database so we know when a new customer has arrived, from where and what they bought.
A good follow-up marketing system should have three attributes:
1. It should be systematic.
2. It should generate consistent, predictable results.
3. It should require minimal physical interaction to make it run.
What are you doing to ensure you’re getting the most out of your leads?
If you like this post, you might want to read:
Where Are Your New Business Prospects in the Selling Cycle?
How Many Calls Does it Take to Make a Sale?
by tradesmeninsights | May 1, 2012 | Marketing Trends, Traditional Marketing
I just got back last week from the ISA (Industrial Supply Association) Show in San Antonio, and I have to tell you, if I were a manufacturer, I’d have to think about what I was getting out of that show. Since we represent manufacturers that go to these types of meetings, I thought I’d bring up the subject for some serious conversation.
In theory, it’s a place where manufacturers and their distribution counterparts come together via a format of speed dating where the manufacturer requests meetings with distributors (both existing customers and potentials). Like anything else, there are no shows for appointments. The booth program is a two-day affair and while the traffic was light on the first day, it was almost non-existent the second day.
If I was a distributor and could talk to as many suppliers as I could in a period of a few days, I would think they would want to take advantage of it. The manufacturers, as in most associations, foot the bills. They have to bring in product, booths and their associated expenses. What’s most disturbing is that the ratio of manufacturers to distributors is probably 10 to 1.
I don’t have the answer and I’m not trying to pick on ISA. STAFDA, NAED, NAHAD and many more face the same dilemma. There’s got to be a better way in a shorter period of time to make the most out of these meetings. Back in the day, these meetings were a place to showcase new products and programs, but with internet and all the other tools we have, I would hope at least your current customers would know about anything new.
I do recall that the fall meetings in Chicago for a day and a half at the airport were both efficient and successful. I believe it was due in part because the distributors were in the booth and you did your speed dating, but only the roles were reversed. NAED does this at their regional meetings, and as far as I can tell, the manufacturers like the format.
Any suggestions on how we can get these distributor/supplier get togethers to be better for all parties involved?
by tradesmeninsights | Apr 24, 2012 | Marketing Trends, Social Marketing, Traditional Marketing
B-to-B customers are doing more homework online when it pertains to buying well before they start the actual buying process. So what are you doing to take advantage of these “opportunity zones” to be successful? B-to-B marketers – are you prepared for a more educated buyer?
We all are facing the challenges of doing more things with sometimes fewer resources, so it stands to reason that what we do, do we want it to give us the best results. Where are you getting your leads and how are you qualifying them? I recently read an article by Dave Thomas on B2B Online Marketing that talks about the results of a recent nationwide survey from BtoB Magazine and Bizo that highlights marketers biggest challenges in 2012.
Among them were:
- Paid search came in as the second-ranked tool for marketing, followed by display advertising (35 percent);
- 60% of marketers claim their biggest challenge this year will be generating additional leads;
- 63% of marketers state that their marketing mix either falls short of sales demand or they are not entirely sure their mix is working;
- 56% note brand promotion as a major area of focus.
What I thought interesting was that their biggest challenge was that leads were falling short of sales demands. I guess does that mean that companies are forecasting growth and in order to attain it, they need more leads?
I guess the question I’d like to ask is are you experiencing these kinds of challenges, and if so, will you share with the rest of us?
by tradesmeninsights | Apr 18, 2012 | Marketing Tips, Marketing Tools, Social Marketing, Traditional Marketing
Now that most companies are back on the offensive and are actively spending more money on marketing, I thought I would ask you where are you getting the best results?
I know the big focus and conversations over the last few years have been on social. Have you jumped in yet, and if so, what kind of results are you getting? What about traditional things like print ads in trade journals and direct mail? Is anyone gaining traction with these?
So to answer my own question, we’re finding in our self promotion that both traditional as well as social media are playing important roles in new business development
A few years ago, we added social media to our marketing mix with this blog. It’s been a major commitment by us to do 2-3 posts a week, but our strategy is paying off. We not only have clients following us, but also potentials who are looking at going after the professional tradesmen.
The blog increases our visibility and also visits to our website. We’ve had a run on inquiries over the last 6 months from folks who have been following us and like what we’re saying. From the market overviews to Podcasts with industry leaders, they have recognized that we specialize in a niche market they are trying to reach and have come to us for help. What’s nice about these new business opportunities is that we’re not competing for the business.
All of our new business isn’t coming from social. We’ve had a print campaign going for the last three years in the leading trade journals where we put a false cover on the copies that go to potential advertisers in those markets. This too has brought us several new business opportunities.
So what’s working for you?
by tradesmeninsights | Apr 11, 2012 | Marketing Trends, Traditional Marketing
A recent report by MarketingSherpa outlines the top priorities and challenges facing those of us that use this marketing tool. A free copy can be downloaded here.
This report re-emphasizes the fact that email marketing is not only alive, but is still an important part of the overall marketing programs of most companies.
Top 5 process priorities for B-to-B marketers include:
- Growing and retaining subscribers – 64%
- Delivering highly relevant content – 72%
- Achieving or increasing ROI – 39%
- Increasing email engagement metrics – 41%
- Integrating email with other marketing tactics – 30%
It makes sense that to grow and retain subscribers, you need to deliver good and meaningful content. Another important consideration is list size isn’t as important as the quality of the list. You should be interested in building lists of followers who are active and want to share information.
B-to-B marketers usually have longer sales cycles, so it’s important to engage and take your prospect through the various stages of the buying process. This is reflected in 70% of B-to-B companies identifying this as an area for improvement.
The top 5 barriers facing B-to-B email marketers include:
- Inadequate staffing – 53%
- Lack of an effective email marketing strategy – 37%
- Difficulty merging email lists with other systems – 36%
- Unclear or constantly changing objectives – 31%
- Inability to manufacture relevant content on a consistent basis – 31%
So tell me about your priorities and what your biggest challenges are with email marketing.
A good follow-up marketing system should have three attributes: