Archive for the ‘content marketing’ Category

Using Social Media to Design New Products

Tuesday, February 23rd, 2010

I know that my clients (SMB B2B IT providers), amongst many others, need a better way to communicate to their prospects. acSellerant’s tag line is “Relevant and useful information builds trust. Trust sells.” While that still holds true, it’s not enough.Innovation Group 150x150 Using Social Media to Design New Products Not when it’s delivered primarily via text. The vast majority of B2B marketing messages are delivered online. People have a short attention span online

Relevant, useful, interesting… even entertaining copy is no longer enough to hold the interest of harried, starved for time, inundated with information business prospects. I’ve spent a lot of time and effort researching and building a process to develop multimedia storyboards that can deliver a significant amount of information in a short amount of time. The idea is to use sight and sound simultaneously to compress the amount of time, and increase the ease, in which information is communicated.

You’re thinking, “Wow, Bob. Alert the media. Ever hear of television or the movies?”

This process might include video, but it doesn’t have to, and it’s designed to be deliverable at less cost, with less equipment, and less prep time than video. It’s designed to fit the budgets of my clients. It’s untried, though.

So, I’ve been thinking about how to launch it. I first vetted the idea with friends, colleagues and clients over the holidays. Then I submitted discussions to a half dozen groups on LinkedIn. I was surprised at the response. Many smart, talented, creative professionals joined in the discussions. The consensus was, if I can pull it off, it’s a winner.

Then I went to three online custom publishers I have a relationship with. They were positive. They all said the same thing, they can sell it, IF I can pull it off. So now it’s time to develop a proof of concept and get feedback.

I’ve built a prototype with a voice over script, some on screen text, and a story told in cartoon format (with my crude stick figure drawings). I realized I needed a professional cartoonist to do the eight or nine frames necessary to tell the visual part of the story. So I’m using iFreelance and contacting other cartoonists I found on LinkedIn and through graphic designers I know.

So stay tuned. I’m going to blog about the process as I reveal the proof of concept online, try to build buzz via social media, and crowdsource tweaks to the process/product to improve it. By the way, one of the outcomes of the discussions on LinkedIn is a name for the product: acStream.

Should be interesting.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

Why Online Product Launches are Different, Better, Cheaper

Saturday, February 13th, 2010

As it happens, I’m in the midst of strategizing and planning new product launches for two clients and a new service launch for acSellerant. I’ve done several launches over the years, but this is the first time I’m doing them exclusively online. Traditional launches keep things a secret until the big launch day, then ‘Kaboom!’, a media blitz… and it’s over. Unless it’s Apple. Then people will continue to buzz about the product for months.

Alas, you’re not Apple, and I’m not Steve Jobs. That doesn’t mean we can’t pull off highly successful product launches, though.

Due to the tools we have available today, the research phase (which is an absolute must) can be combined with test marketing and some early promotion of the product.

The problem in developing successful new products is not a shortage of ideas, but the expense of bringing a new product to market without any guarantee of success. How much better to continually seek feedback from prospects along the way, and fine tune the product so you know it’s going to be a winner.

Research, Research, Research

Social media platforms like LinkedIn and Twitter constitute mind-boggling tools for accomplishing research on the fly with built-in feedback loops, and rock bottom pricing. Five years ago you’d have to pay tens or even hundreds of thousands of dollars for the information you can get at virtually zero cost today. Here’s the process:

  1. Determine who your best target customers are. “Everybody” is not an acceptable answer. Be as specific as possible. The better you know who you’re selling to, the better you can custom fit your product, and the more persuasive your marketing messages can be.
  2. Determine how you want to go to market. Are you going to produce the product in-house or outsource the production? Will you sell the product yourself or through resellers? If you’re going the partner route, thoroughly research potential partners to determine best fit.
  3. Market Research Phase:
    a. Research market size and potential.
    b. Interview end users, resellers and sales reps (you can do this via online polls on LinkedIn and Twitter, although you should also conduct some qualitative, in-depth interviews in person or over the phone).
  4. Analysis and Development of the Marketing Plan:
    a. Competitive Analysis – review competing products and how they stack up against your proposed product. If there aren’t any closely competing products, research how else people are solving the problem. If they aren’t solving the problem and they’re not suffering any pain, pull the plug. If they are suffering, but don’t realize they have a problem, you need to add in the overhead cost required to educate them.
    b. Evaluate the product’s Strengths, Weaknesses, Opportunities and Threats (SWOT). Develop a Proof of Concept so people can understand what it is and what it does. It’s OK to use smoke and mirrors, as long as you can build the real functionality when the time comes.
    c. Develop an Online Marketing Plan that leverages the unique capabilities of the Net. Successful online launches create a series of interactions with current customers, employees, prospects, suppliers, trade media, resellers and any other appropriate audiences.
  5. Execute the Plan and Launch the Product:
    a. Develop online (easily and inexpensively edited) collateral materials.
    b. Begin placement dialogues with the first step in the preferred channel.
    c. Have enough dialogues with enough different entities to uncover any previously undiscovered objections.
    d. Review and revise the Plan as necessary with the new information.
    e. Repeat until you’re satisfied you have market acceptance.
    f. Explore relationship extensions with partners.

I’ll come out with more details in shorter blog posts over the next several days.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

The Content, Connection, Conversation, Conversion Continuum

Wednesday, January 20th, 2010

I am officially retiring acSellerant’s tagline – “Relevant and useful information builds trust. Trust sells.” When I first came up with that slogan, I was on a mission to convince B2B companies that:

  1. traditional, interruptive advertising was no longer effective, and
  2. traditional presales activities (educating prospects about your solutions) had been replaced by Google.

Largely due to the efforts of others, like Joe Pulizzi and Newt Barrett; and to the overwhelming evidence in the market place, my prospects now understand #1 and 2 above. So what’s next?

The Content, Connection, Conversation, Conversion Continuum

We all agree that to engage prospects we need to produce and publish relevant, useful, interesting and valuable content. You can’t just put it out there anymore, though. There’s too much competition for peoples’ attention.

We need to connect the content to our prospects. That means we have to deliver it to the online places where they hang out. That might be at industry-related websites like MSPmentor, or on special interest groups within Facebook, LinkedIn and Twitter.

Once you’ve set your content at the feet of the people it was developed for, if you’ve made the content compelling enough, your prospects connect with you. You’ve piqued their interest and they want to learn more… or they want to voice their opinion. They will comment on a blog post, in your online discussion, or they’ll email you.

Conversation ensues.  When a dialogue is created between you and your prospects, ideas are exchanged. This is the time to listen carefully. It’s a golden opportunity to find out exactly what prospects want. Let them tell you. If they feel they’ve been heard, trust is built.

Once they understand that you truly have their best interest at heart, the conversation will move from online to phone, and then face to face, as the topics move from features and benefits, to pricing, and to terms and conditions. The prospect converts into a customer. You close a profitable deal without selling anything.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

The Most Important Factor in Business Success

Saturday, January 2nd, 2010

Social media guru (and my neighbor here on Florida’s Gulf coast), Bernie Borges released his business predictions for this new decade. One of those predictions is the continuing growth and strength of Marketing as a critical business success factor. Not surprisingly, I’m in agreement. Here’s an excerpt:

Marketing
The 00’ decade began the transition to the mantra “marketing is the enterprise.” In the 10’ decade, marketing will be the most important factor in business success. No offense to sales-driven companies, but marketing is the central nervous system of the enterprise in the new decade. And, the cardiovascular system is communications. The marketing strategy is now all about the experience. Customers live in a digitally connected world at home, in the car, on the bus, at work, even at their kid’s soccer games. Brands who give their customers opportunities to experience their value proposition will win loyalty. Some B2B brands that do this already include Cisco, Indium Corp. and HubSpot. The secret sauce to creating an experience is to experiment with different communications that touch people through more than one sense including sight, sound, smell, taste, touch. Yes, even B2B brands can do this.

I’m not so sure about smell, taste and touch; but it’s apparent that multimedia (graphics, images, and sounds along with short bits of text) will increasingly become the lingua franca of the web. As for Marketing’s ascendancy, I think most everybody in the business world realizes that ‘order taker’ salespeople have been disintermediated by the internet. But for complex B2B products and services, sales people are still very much needed. Their roles, though, should be upgraded and focused. ‘Beating the bushes’, ‘cold calling’, ‘hunting’… whatever you call it, is less and less effective. Marketing’s role is growing through the addition of what I call ’sales enablement’ activities. These are primarily online pull tactics (including inbound marketing, content marketing, SEO and social media). The upside for professional B2B sales executives is that they get to focus their time and attention on building relationships and closing profitable deals.

You can read the rest of Bernie’s Predictions here.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

100 Content Marketing and Social Media Predictions for 2010

Wednesday, December 16th, 2009

Joe Pulizzi, the de facto worldwide thought leader for ‘content marketing’, has included me (along with Seth Godin, Mike Volpe, David Meerman Scott, John Jantsch, and 55 others) in his list of contributors. I’ll give you the link (I’m about half way down the list), but first here’s my prediction:

Bob Leonard

In the B2B world, it’s going to require what Oliver Wendell Holmes called “simplicity on the other side of complexity”.

What I mean is that marketers are going to have to work hard to distill product and service information (features and benefits, competitive positioning, value propositions, etc.) into easily consumed, and quickly digested morsels. I’m not referring to slogans or tag lines. Marketers have moved beyond sales messages to delivering relevant and useful information. As the sheer volume of this information grows exponentially, marketers must learn to communicate to target prospects not only in a meaningful, concise way; but also using multimedia to engage more of the targets’ senses. To teach and to entertain simultaneously.

I happened to have a prediction ready for Joe because it’s something I’ve been thinking about quite a bit.

As a content developer, my primary communication vehicle has been the written word. As technology advances, and the amount of information available to people explodes, text on a page or a screen is becoming less and less capable of competing for peoples’ attention. So, I decided to work on something new. I was looking for something I could do largely by myself with just a PC, some software and an internet connection. I’ve found that thing. I call it ‘storyboarding’.

It’s a mashup of PowerPoint, video and podcasting (voice over).

I’ll be evolving this blog to that format within the next few weeks. And will be using it to help clients communicate to their customers and prospects.

Meanwhile take a look at Joe’s 100 Content Marketing and Social Media Predictions for 2010.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

How Do You Communicate Value in a Digital World?

Wednesday, December 2nd, 2009

A client said something to me last week that I want to share with you. He asked me, “How do we communicate value in a digital world?” I asked him what he meant.

He said,  “Our services are virtual. We remotely monitor our customers’ systems and applications, and we fix things before they break. We used to get to play the hero now and then… swooping in when there was trouble and saving the day. How can we communicate that kind of value when we’re invisible?”Business Man Questioning

I know the answer, and I’ll share it with you in a minute.

On an earlier visit to that same office, I was asked to wait in the reception area for a few minutes until my client (the VP of Sales) was finished with a con call. So I sat and checked my phone, etc. I couldn’t help overhearing a conversation coming through the open door of their Help Desk area. One of the technician’s was busy relating how he had ‘helped’ a recent caller. She had phoned with a question that this technician considered “stupid”. He recounted (to the amusement of his peers) the conversation during which he solved the problem… and humiliated the caller.

At the time, I decided it wasn’t my place to mention this to my client; but his question was the perfect opening.

How do you communicate value in a digital world?

You make damn sure that every customer touch point is pleasant and reassuring. That Help Desk call was an opportunity for the technician to establish rapport, help the woman with her problem, and make her feel important. She is important. Her company is paying that technician’s salary.

I can divide my clients into two categories. Those who realize that so-called ‘soft skills’ are just as important as technical skills, and those who don’t. Guess who’s more successful?

If you’re remote, and your customer touch points are limited to an occasional phone call, an email now and then, and your website; make the phone conversations, emails and website as high quality as you can. Make them the Ritz-Carlton of phone conversations, emails and websites. If they’re the Holiday Inn Express of phone conversations, emails and websites, that’s how your clients will perceive your business, no matter how sophisticated and skilled your people are.

Evaluate your entire business. Look at every customer touch point and make sure that the employee (or digital entity) involved is not only technically competent, but is delivering Ritz-Carlton level service.

When that’s fixed, start (and maintain) a social media campaign. That’s how you develop digital relationships. More on that in future posts.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

Why Content Strategy is So Important

Thursday, November 12th, 2009

Seth Godin said, “Content marketing is the only marketing that works for B2B.” I absolutely agree. I see proof of it all the time. One can conclude then that content is important. How content is developed, organized and disseminated is also important.

Years ago your Sales department controlled every step of a prospect’s movement through the sales cycle – from initial interest to closing the deal. Your salespeople managed the prospect’s access to information about your products and services. Marketing’s job largely consisted of renting assets owned by other entitiesInformation Structure (advertising sales departments, PR firms with access to journalists, tradeshow organizers).

The internet has changed that forever. Fragmentation of media has created an information source explosion:

  • happy and disgruntled customers freely comment about vendors and services,
  • self-proclaimed industry experts blog about everything from features to pricing to future product releases,
  • competitors engage prospects online via the clever use of social media.

The days of controlling the conversation with customers and prospects are gone. Marketing must move from renting assets to building them. Marketers must become publishers.

Content in Context

The internet has disintermediated the middlemen. Used to be that Marketing ‘rented’ access to prospects via print advertising in trade publications. We all know that ads don’t work anymore. People have become inured. They ignore the ‘noise’.

Or Marketing rented access to prospects via articles placed in those same trade pubs. This can still work, but is prohibitively expensive for SMB companies. Compared with 10 years ago, the prices are higher and the readership is lower.

Trade shows can still work, but they too are expensive, and they’re time-consuming. Most SMB IT providers are selective about exhibiting at trade shows, and only do one or two a year.

The internet has given us direct access to prospects. We don’t have to go through those middlemen anymore. But there’s a downside. Those middlemen gave us context.

When buying a print ad, Marketing made sure that the readers of that trade pub were people in a position to buy what they were selling; and made sure that the ‘content’ of that ad spoke in terms that made sense to that target audience.

When a PR agency placed an article, the agency made sure that the placement was appropriate and that the content was relevant. Then a professional journalist wrote the article in a way that was (usually) interesting to the target audience.

In the trade show scenario, organizers demand that exhibitors meet certain criteria… that they’re focused on a niche that’s congruent with the target audience. Then they book speakers and seminars designed to attract that target audience. And they promote the show to ensure the targets attend.

Content Strategy Supplies Context

Content strategy plans for the creation, publication, and governance of relevant and useful content across a number of different vehicles (blogs, case studies, email campaigns, LinkedIn, online PR, podcasts, syndicated articles, videos, webinars, websites, white papers, etc.).

Gaining the interest of customers and prospects online is all about being willing to put your own agenda aside. Put yourself in their shoes and work hard to produce information that prospects find relevant and useful. If you can make it entertaining too – so much the better. Companies need not only the will, talent and skill to produce great content; they need the tools, processes and infrastructure. Those went away when we lost the middlemen.

The people who develop online content discuss user experience, information architecture, content management systems, metadata, visual design, user research and other disciplines that facilitate users’ abilities to find and consume content. What’s been largely ignored is the content development process.

Content Development Process

Content strategy is important. It provides the context for the content that forms the heart and soul of every successful B2B marketing effort. Content strategy deserves the focus of either someone internal to the organization, or by an external agency. A content strategist executes:

  • Channel Distribution Strategy – defining how and where content will be made available to prospects. (e.g. blogs, email marketing, LinkedIn, online article publishing, podcasts, posted videos, Twitter, website).
  • Content Management Strategy – defining the technologies needed to capture, store, deliver, and preserve an organization’s content. Publishing infrastructures, content management systems and workflows are key considerations.

  • Editorial Strategy – defining the guidelines by which all online content is governed: values, voice, tone, legal and regulatory concerns, user-generated content, and so on.

  • Keyword Research – using search term suggestion tools (on an ongoing basis) to determine which keywords and phrases people are using to find what you’re selling, and embedding those keywords in your content.
  • Link Building – an important component for superior search engine ranking. Google bestows high ranking on those websites that have been linked to from sites it considers to be “of high quality and relevance”.

  • Search Engine Optimization - editing and organizing the content on a page or across a website to increase its relevance and search engine ranking for specific keyphrases.
  • Stewardship of Company Positioning - ensuring all messages are congruent with the established brand, value propositions, etc. and adapting them as markets or competitive conditions change.

Businesses must commit to treating their marketing content as a valuable asset worthy of strategic planning. Otherwise content marketing efforts are haphazard and less effective than they could be. Anything worth doing is worth doing well. Content strategy is worth doing well.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

Marketing Defined

Friday, August 28th, 2009

Let me preface by saying this isn’t a textbook definition of ‘Marketing’. It isn’t how the American Marketing Association, or Proctor & Gamble, or even Apple would define it. This is Bob Leonard’s definition of ‘Marketing’ developed over many years of learning what works best for my clients – small to medium sized (SMB), information technology (hardware, software and/or services), business to business (B2B) companies.

Marketing Sign PostBrand communicates the ‘personality’ of the company and its products and services. Some people mistakenly believe that brand must be communicated through advertising and other promotional activities. Not!

The C suite should define and communicate what a company is about, so employees understand and transmit the brand message. ‘Brand’ is communicated through all customer and prospect touch points.

I define Marketing as “anything that helps Sales close profitable deals”. Branding is a part of that, but only a part. It’s an input to the process of Marketing.

Marketing can be used as a tool to help management develop market strategies (for each product/service) – which are built upon detailed descriptions of target prospects. Once we know exactly who will buy each product and service, and why, we can determine the best

  • messaging (benefit statements, value propositions, etc.)
  • offers (what will make them take action?)
  • vehicles (the most effective ways, online or off, to reach them).

Marketing can inject discipline into the Sales process. It can force the development of a strategy, plan and budget that eliminate one-off, shoot from the hip promotional efforts that do nothing to increase profitable business.

Marketing is a process that is composed of many parts. When conceived and executed properly, the return on investment is significant. Marketing is the planting of a seed, and the nurturing of that seed over time. Just as a farmer must water, weed and feed for months before reaping the benefits, Marketing takes time.

Marketing exists because Sales, by nature and due to compensation plans that reward short-term results, is unable or unwilling to perform that nurturing process. They just don’t have the time. Optimal results are achieved when Sales and Marketing work together. When each:

  • understands what the other is doing and why,
  • agrees on who is responsible for what, and
  • can clearly articulate a mutual definition of a ‘qualified lead’.

Marketing performs demand generation activities, and hands off warm, engaged leads to Sales when the time is right. Sales can then spend its time nurturing relationships with current customers to deliver upsells and repeat business; and developing and closing profitable deals with qualified leads.

Over time, I’ve devised a methodology for developing and executing effective ‘Marketing’ for my clients. The basic format is: ‘Strategy. Content. Design. Tools/Vehicles. Test/Optimize.’ More in upcoming posts.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

Insurance Technology Pundits

Wednesday, August 12th, 2009

For those of you who own, manage or sell for IT companies that target insurers, I have a trio of blogs, and one trade publication, that you ought to be reading. It’s amazing the amount of free, yet valuable, information that’s available today on the web.

These three Insurance Technology pundits are Ellen Carney, Barry Rabkin and Ara Trembly. All three of these people make their living consulting to technology vendors in the insurance space. They are all well-connected in the industry, and they all have valuable insights.

Barry’s blog is called ‘Rabkin’s ROI – Rants, Observations and Insights from an Insurance Technology Analyst‘. Barry has a unique point of view as a result of 30 years of experience in what he calls the ‘InTech’ world.

Both Ellen and Ara have blogs on the Insurance Networking site. You may have to register to access the blogs, but it’s well worth the five minutes. You can also sign up to receive IN’s enewsletter. Lots of good information. Here’s an excellent post by Ellen listing the findings of a recent Forrester research study re how insurance execs are planning their IT spending; and an insightful one by Ara discussing the demise of homegrown insurance systems (or not).

These people are bona fide world class experts in the field of information technology in the insurance industry, and you can peek inside their brains for free! Relevant and useful information to help you make better business decisions. It’s a wonderful world.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF

Business to Business Lead Qualification

Wednesday, August 5th, 2009

Getting to ‘No’

I remember my boss at Digital Equipment Corp. once awarded me the “bulldog”. It was a bronze casting of a bulldog meant to be proudly displayed on my desktop. It was recognition for sinking my teeth into an unqualified prospect and holding on until the prospect submitted to my will and bought.

Bulldog 150x150 Business to Business Lead QualificationThat was then. This is now. Today that kind of behavior should be punished, not rewarded. Maybe even back then. We made the sale, but at what cost?

Once I had committed to that deal, I spent tons of time booking appointments, preparing proposals, building presentations, and making customer visits. Very time consuming and expensive. I’ve since decided that this is work that should be done only if there’s a real need and a good chance of winning a profitable deal.

Everything you do to generate leads and close deals is hard work. Don’t waste it. Get to ‘No’.

There’s a substantial difference in your mental attitude when you’re going for a ‘Yes’ versus when you’re going for a ‘No’.

When you go for a ‘Yes’:

  • You’re trying to get an appointment.
  • You’re trying to get approval for your proposal.
  • You’re trying to close the deal or close for the next step.
  • Your posture is one of a supplicant.

When you go for a ‘No’:

  • You cross prospects off your list faster.
  • You never do proposals that have no chance of leading to a sale.
  • You’re looking for reasons not to waste time with loser deals.
  • Your posture is one of confidence that what you sell is of value.

This doesn’t mean you throw out every lead that isn’t perfect and ready to decide today.

What it does mean is that you prioritize your efforts, and you make prospects show you why they deserve your sales time and sales resources.

It’s so much better to deal only with qualified prospects. Prospects who have pain and are actively seeking help.

Most companies don’t qualify leads well enough. In B2B, prospects are professional buyers, with budgets and business problems to solve. If you can help them, chances are good they’ll buy. You have a right to ask questions to determine if the opportunity is appropriate for your organization.

When you embark on a demand generation program, you need to qualify the leads that come in. Initially, they should be qualified to determine whether they belong in the sales funnel at all. Criteria to determine this:

  • the prospect is the decision maker, a strong influencer, or has access to the decision maker or influencer
  • the company is doing well and can make money available for the purchase (or, in some cases, is doing poorly and may go to great lengths to get funding for the right project)
  • pain has been detected, and your product may solve their pain
  • they have expressed interest in your product, and
  • they project a purchase within a year.

If they don’t qualify at this point, discard them. On average, you’ll lose about 20% of the leads generated. You’ll save a lot of time and effort by not pursuing leads that will never close.

Then it’s time to qualify for “sales-ready” leads. It’s imperative that Marketing, Sales and the C-suite all agree on the criteria that must be met to qualify a lead as “sales-ready”. Here’s an example of sales-ready lead criteria:

  • the prospect is the decision maker, or is a strong influencer and can get you access to the decision maker
  • budget is available, or the person can make budget available
  • pain has been verified, and your product can genuinely solve their pain
  • they have expressed interest in a sales meeting to explore a solution to their need, and
  • they project a purchase within three months.

You can loosen or tighten the scoring criteria based on whether you want more or fewer leads to hand to your salesforce. On average, 20% of the leads generated will be qualified as sales-ready. Hand them off to the appropriate sales contacts immediately.

You’ve discarded 20% and handed 20% off to your salesforce. That means you have 60% of the leads generated still in the sales funnel. They’re qualified as leads, but they’re not sales-ready. They need to be nurtured.

The way to build a relationship with these prospects is to let them educate themselves. B2B lead nurturing consists of making informative content (some subset of whitepapers, seminars, case studies, podcasts, webinars, demos, etc.) available to the prospect. The goal is to earn their permission to stay in touch and progressively deepen the relationship so that when the prospect does become sales-ready, they’ll want to engage with your firm. You’re top of mind when they’re ready to buy, and the conversation won’t be centered on price, because you’ve become a trusted advisor.

Share and Enjoy:
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • Ping.fm
  • RSS
  • Sphinn
  • StumbleUpon
  • Technorati
  • Twitter
  • email
  • Print
  • PDF