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Www.lookingglassmarketing.com. Terminology:Terminology: Drip marketing Drip marketing Relationship marketing Relationship marketing Defined:Defined: Initiating.

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Presentation on theme: "Www.lookingglassmarketing.com. Terminology:Terminology: Drip marketing Drip marketing Relationship marketing Relationship marketing Defined:Defined: Initiating."— Presentation transcript:

1 www.lookingglassmarketing.com

2 Terminology:Terminology: Drip marketing Drip marketing Relationship marketing Relationship marketing Defined:Defined: Initiating a conversation with prospects and customers over period of time Initiating a conversation with prospects and customers over period of time Growing relationships by sending unique and valued messages to prospects and customers on a regular basis Growing relationships by sending unique and valued messages to prospects and customers on a regular basis Leave a positive imprint in their mind until they're ready to buy! Leave a positive imprint in their mind until they're ready to buy!

3 Sending out an e-newsletter when you get around to itSending out an e-newsletter when you get around to it Randomly calling leads every six weeks to see if they are ready to buyRandomly calling leads every six weeks to see if they are ready to buy Blasting your entire database with a new case studyBlasting your entire database with a new case study Offering content that promotes your companys products and services and does not take into account your prospects interestsOffering content that promotes your companys products and services and does not take into account your prospects interests

4 Longer sales cycles, increased competition, ever- changing business climate – need to be there when they are ready to buyLonger sales cycles, increased competition, ever- changing business climate – need to be there when they are ready to buy Forget about the one-off effort! According to the Direct Marketing Association, a prospect will need to see/hear your message 3 times to recognize you and a minimum of 9 times to make a saleForget about the one-off effort! According to the Direct Marketing Association, a prospect will need to see/hear your message 3 times to recognize you and a minimum of 9 times to make a sale Nurture marketing process leads to:Nurture marketing process leads to: Better qualified leads Better qualified leads Higher close ratios Higher close ratios Stronger sales pipeline Stronger sales pipeline Shorter-than-average sales cycles Shorter-than-average sales cycles

5 Up to 95 percent of prospects on your Web site are there to research and are not ready to talkUp to 95 percent of prospects on your Web site are there to research and are not ready to talk As many as 70 percent of them will eventually buy a product from you or your competitorsAs many as 70 percent of them will eventually buy a product from you or your competitors Longer term leads represent 77% of potential salesLonger term leads represent 77% of potential sales 30-45% of leads not considered viable opportunities by sales become sales-ready within 12 months30-45% of leads not considered viable opportunities by sales become sales-ready within 12 months Nurtured leads produce a 20 percent increase in sales opportunities versus non-nurtured leadsNurtured leads produce a 20 percent increase in sales opportunities versus non-nurtured leads Source: Lead Generation for Complex Sale and The Definitive Guide to Lead Nurturing, Marketo

6 Building a relationship with a prospect is the same as with any long-term relationship you cant force someone to commit (to a purchase)Building a relationship with a prospect is the same as with any long-term relationship you cant force someone to commit (to a purchase) But you cannot afford to lose individuals because their willingness to buy doesnt match your readiness to sellBut you cannot afford to lose individuals because their willingness to buy doesnt match your readiness to sell Spend more time marketing to and building relationships with the peopleSpend more time marketing to and building relationships with the people

7 B2B buying process has fundamentally changedB2B buying process has fundamentally changed Prospects are spending more time on the Web doing independent research, obtaining information from their peers and other third partiesProspects are spending more time on the Web doing independent research, obtaining information from their peers and other third parties B2B buyers are now in controlB2B buyers are now in control Changes the role of marketingChanges the role of marketing Old Way - Lead generation and moving on Old Way - Lead generation and moving on New Way - Marketers must synchronize their marketing efforts and provide prospects quality content throughout the sales cycle and do it in consistent and timely manner New Way - Marketers must synchronize their marketing efforts and provide prospects quality content throughout the sales cycle and do it in consistent and timely manner

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9 The results, in order of response rate percentages:The results, in order of response rate percentages: Telemarketing: 5.78% Telemarketing: 5.78% Dimensional mail: 2.3% Dimensional mail: 2.3% Direct mail: 1.88% Direct mail: 1.88% Email: 1.12% Email: 1.12% Inserts: 0.45% Inserts: 0.45% Magazine: 0.13% Magazine: 0.13% Radio: 0.1% Radio: 0.1% Newspaper: 0.09% Newspaper: 0.09% Direct Marketing Association (DMA), www.the-dma.org (B-to-B and B-to-C) Direct Marketing Association (DMA), www.the-dma.org (B-to-B and B-to-C)www.the-dma.org

10 Once you start incorporating multiple touches, your response rates increase:Once you start incorporating multiple touches, your response rates increase: Telemarketing Telemarketing Dimensional mail Dimensional mail Direct mail Direct mail Email Email

11 Multiple response options increase your response rate:Multiple response options increase your response rate: Fill out a Web form Fill out a Web form Return a business-reply card Return a business-reply card Respond by email Respond by email Call a toll-free number Call a toll-free number

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13 Creating consistencyCreating consistency Messaging based on who targetingMessaging based on who targeting Value-based offersValue-based offers Setting the rhythm:Setting the rhythm: Plan should include: Plan should include: Target List Target List Messaging and Content Messaging and Content Frequency and Execution Frequency and Execution Measurement Measurement

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15 Understand and profile who you want to nurture:Understand and profile who you want to nurture: What makes up a good customer for your company? What makes up a good customer for your company? What are the characteristics? What are the characteristics? Industry focus, company size, geography, revenue, etc. Industry focus, company size, geography, revenue, etc. What problems does my prospect need to overcome each day? What problems does my prospect need to overcome each day? What is the prospects top priority right now? What is the prospects top priority right now? Build a list of Prospects, Leads, CustomersBuild a list of Prospects, Leads, Customers Prospect = no formal communication or has not responded to your company in the past Prospect = no formal communication or has not responded to your company in the past Lead = Prospective customer who has responded to your communication in past and/or is someone in pipeline Lead = Prospective customer who has responded to your communication in past and/or is someone in pipeline Customer = existing or former customers who have done business with your company Customer = existing or former customers who have done business with your company

16 Dont have a list? Or need to supplement list? www.hoovers.com – (General B-to-B lists) www.hoovers.com – (General B-to-B lists) www.hoovers.com www.zapdata.com – (General B-to-B lists) www.zapdata.com – (General B-to-B lists) www.zapdata.com www.jigsaw.com – (General business) www.jigsaw.com – (General business) www.jigsaw.com www.leadintelligence.com – (Competitive product lists – small to mid-market) www.leadintelligence.com – (Competitive product lists – small to mid-market) www.leadintelligence.com www.hartehanks.com - (Competitive product lists – Enterprise) www.hartehanks.com - (Competitive product lists – Enterprise) www.hartehanks.com

17 Segment your list into A, B and C prospects and customersSegment your list into A, B and C prospects and customers Deliver communication and offers applicable to eachDeliver communication and offers applicable to each Prospects E-NewsletterDirect MailEmailDimensional Mail TelemarketingSales Contact Prospect AYes Prospect BYes Prospect CYes Customers Customer AYes Customer BYes Customer CYes

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19 Know your audience and ask yourselfKnow your audience and ask yourself How can we build credibility? How can we build credibility? How can we show that our products/services will help them achieve goals? How can we show that our products/services will help them achieve goals? How can we differentiate ourselves? How can we differentiate ourselves? How can we become a trusted advisor/expert to prospects and customers? How can we become a trusted advisor/expert to prospects and customers? Integrate pain messaging:Integrate pain messaging: Getting More Organized to Save Time and Money: Do more with reduced time, people, and finances; improve teamwork and collaboration; and stay connected to the business while away from the office. Getting More Organized to Save Time and Money: Do more with reduced time, people, and finances; improve teamwork and collaboration; and stay connected to the business while away from the office. Managing Cash Flow: Make your finance, operations, and other business processes more efficient. Gain better insight into what drives revenues and expenses, so you can improve your financial position and make more informed decisions about where to best invest resources. Managing Cash Flow: Make your finance, operations, and other business processes more efficient. Gain better insight into what drives revenues and expenses, so you can improve your financial position and make more informed decisions about where to best invest resources. Finding and Retaining Customers: Find customers more cost-effectively, close deals faster, and improve customer satisfaction. Finding and Retaining Customers: Find customers more cost-effectively, close deals faster, and improve customer satisfaction. Reducing IT Costs and Risks: Stay focused on running the businessnot wasting time and money dealing with network disruptions or fighting fires. Reducing IT Costs and Risks: Stay focused on running the businessnot wasting time and money dealing with network disruptions or fighting fires.

20 We all consume media differentlyWe all consume media differently Email, telemarketing, direct mail Email, telemarketing, direct mail Need to stand-out Need to stand-out Use a common theme to break through the clutter and get your message acrossUse a common theme to break through the clutter and get your message across Choose a theme thats: Choose a theme thats: Fun Fun Topical Topical Engaging Engaging Memorable! Memorable!

21 Need to make sure you offer something of value or educationalNeed to make sure you offer something of value or educational Establishes you as an expert and is non-threatening including:Establishes you as an expert and is non-threatening including: Articles Articles Case Studies Case Studies Press Releases Press Releases Whitepapers Whitepapers Webinars/Events Webinars/Events E-Books/How-Tos E-Books/How-Tos Research Findings /Analyst Reports Research Findings /Analyst Reports Polls/Surveys/Quiz Polls/Surveys/Quiz Podcasts Podcasts Microsoft Incentives Microsoft Incentives

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23 How often is enough or too much?How often is enough or too much? Weekly? Monthly? Bi-monthly? Weekly? Monthly? Bi-monthly? When its relevant When its relevant Resources, budget, capacity and ability to deliver Resources, budget, capacity and ability to deliver

24 Setting the rhythm…move prospects alongSetting the rhythm…move prospects along Timing (every 30 days)Action Contact #1Introductory call with follow-up email (Get permission/verify contact information) Contact #2Email with offer educational report/article Contact #3Direct mail with white paper offer– ROI of ERP Contact #4Email newsletter Contact #5Email and link to relevant case study or podcast Contact #6Direct mail invite to webcast with follow-up phone call Contact #7Follow-up touch base phone call - reminder Contact #8Email newsletter Contact #9Phone call to touch base and prospect interested in meeting with you!

25 Timing (every 30 days)Action Contact #1Thank you letter/gift and phone call Contact #2Email with offer to sign up for newsletter and training opportunity Contact #3Direct mail with white paper offer/report Contact #4Email newsletter Contact #5Email and link to relevant podcast or article Contact #6Direct mail invite to customer briefing event and follow-up phone call Contact #7Follow-up touch base phone call - reminder Contact #8Email newsletter Contact #9Phone call to set-up lunch meeting to discuss possible project need

26 Adjust your budget to spend less on the larger prospect pool and more on qualified prospectsAdjust your budget to spend less on the larger prospect pool and more on qualified prospects Budget for marketing offersBudget for marketing offers Sample dimensional mailing cost per:Sample dimensional mailing cost per: LowHigh Promo Item$1.25$4.50 Card$.50$1.00 Envelope$.28$.75 Postage$1.50$2.50 Labor (printing, label, assembly)$2.00 Total$5.53$10.75

27 Execution includes:Execution includes: Following a plan Following a plan Resources and funding to keep momentum Resources and funding to keep momentum Multiple tactics (direct mail, email, phone) Multiple tactics (direct mail, email, phone) Multiple offers to move your audience along in the sales cycle Multiple offers to move your audience along in the sales cycle

28 How do you integrate into nurture plan?How do you integrate into nurture plan? Communicate that you are active on various sites such as LinkedIn, Face Book, Twitter, etc. and invite them to join your social networking sites Communicate that you are active on various sites such as LinkedIn, Face Book, Twitter, etc. and invite them to join your social networking sites Start-up a group and ask them to join, see who else is connected in their network and get an introduction Start-up a group and ask them to join, see who else is connected in their network and get an introduction Participate in online discussions (answer questions/provide opinions) Participate in online discussions (answer questions/provide opinions) Post company events and happenings on sites Post company events and happenings on sites

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30 Monitor and analyzeMonitor and analyze Track each phase of plan and response – cant improve what you dont measure! Track each phase of plan and response – cant improve what you dont measure! # of responses and qualified leads # of responses and qualified leads # of closes # of closes Number of downloads by offer Number of downloads by offer Number of appointments made Number of appointments made Track your web traffic Track your web traffic Measure ROI Measure ROI Be flexible and make changes as necessary Be flexible and make changes as necessary Ensure continued support and funding to continue nurturing Ensure continued support and funding to continue nurturing

31 Think long-term – anything worthwhile takes hard work and persistence Think long-term – anything worthwhile takes hard work and persistence Know who you want to target and what they are interested in Know who you want to target and what they are interested in Build relationships that are personal and respectful Build relationships that are personal and respectful Offer information that is educational Offer information that is educational Consistency and follow-up is key Consistency and follow-up is key Measure and track Measure and track

32 Review target lists, begin segmentingReview target lists, begin segmenting 3 offers they might be interested in receiving3 offers they might be interested in receiving Start thinking of theme/messagesStart thinking of theme/messages Outline a plan and budgetOutline a plan and budget Begin executing, building relationships and planting those seeds to success!Begin executing, building relationships and planting those seeds to success!

33 Marketing consulting group focused on helping small to mid-market companies grow their business through effective marketing strategies. Services include:Marketing consulting group focused on helping small to mid-market companies grow their business through effective marketing strategies. Services include: Marketing planning and budgeting Marketing planning and budgeting Campaign development and execution Campaign development and execution Outsourced marketing management Outsourced marketing management Direct marketing Direct marketing Collateral creation Collateral creation Telemarketing Telemarketing Newsletters Newsletters Success stories Success stories Website development and strategy Website development and strategy Event planning Event planning Press releases Press releases Contact Jennifer Culbertson jennifer@lookingglassmarketing.com 614-453-5927 www.looingglassmarketing.com 33

34 Thank You for Attending!


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