The team down at Austin-based Marketing Automation Software guide Falconry Group Marketing Automation Blog Postasked for my commentary on one of their blog posts. I’ve been meaning to write about this topic anyway. So I’m happy to oblige.

Before I start, bear with me on a couple of points:

1) I’m going to make one or two contextual jumps from marketing automation to the general (mis)use of automation in our culture.

2) I may get a little “aggro” about this stuff. Now, I rarely launch into angry screeds on this blog. I’m more of a blue-sky, happy-talk, it-will-all-work-out-in-the-end marketer. So if I offend anyone, please give me a get-out-of-jail-free pass this one time. Or give me hell in the comments section. :)

Ok. End of preamble.

Justin Gray, CEO of LeadMD, posted this gem last week: Marketing Automation ROI: Myths and Facts

Gray nicely summarizes the soaring hopes and earthbound realities companies experience when deploying marketing automation (MA) software. And he outlines several smart strategies marketers can adopt to increase their odds of success.

Gray’s straight talk is refreshing. Because much of the chatter in the MA space is influenced by MA software vendors. In the past, I have been critical of these vendors’ marketing and sales practices. I also believe that (some of) these vendors are (partly) responsible for the unrealistic expectations Gray notes in his piece.

But responsibility and blame are two different things. As Bono once sang, “If you need someone to blame // Throw a rock in the air you’ll hit someone guilty.”

The MA software vendors operate in a highly competitive, fast-growing space. In reality, they are only doing what they feel is required to grow revenues and create shareholder value. So I’m simultaneously aware (I’m a Gemini – it’s what I do) that these criticisms (a) are pointless, and (b) ignore a much larger reality in our culture.

Folks, we have got to put down the automation crack-pipe. It is killing us.

No, this is not yet another Quixotic lament about the quickening pace of technological change. I love everything that technology does to benefit humanity. But I H-A-T-E to see it used to de-humanize human relationships.

A poorly designed sales process is far from the worst offender. There are many others, like political robocalling, commercial robotexting, robo-foreclosures, and [insert your example here].

And now here’s THIS ridiculous news story, which befouled my laptop screen yesterday morning.

“Employers ask job seekers for Facebook passwords”

Yes, I realize the story isn’t about a failure of automation. But if “give us your login” becomes a mainstream hiring practice, you know there’d be an app for that!

The request to inspect an applicant’s Facebook account is a symptom of the same disease that we (wrongly) treat with marketing automation software. That disease is the belief that we can insulate our corporate and personal assets from the unpredictable nature of human relationships.

The truth is this: recruiting — like marketing, sales, management, or anything else in business — is like life itself. It involves uncertainty and risk. And, natural disasters aside, most of that randomness involves other people.

People – dang them! – don’t always do what we want them to do. So we build and operate systems to help us understand their behavior. But no machine can out-human a human in anticipating, and tending to, another human’s changing needs. That day may come. But even then, it won’t come cheap. This is why we attract, hire, and retain great recruiters, marketers, salespeople, and managers. And we outfit them, when necessary, with labor-saving software.

This topic relates closely to the name of our business: The Falconry Group.

The falcon and falconer in our logo are like any two people in the business world. We each have different talents (or talons) and abilities. We all have our own stuff going on. And we’d all like to believe that we don’t really need each other to survive.

On some days, in some ways, we’re right about that. And if a poorly designed business process pushes us together against our will, a broken wing or a clawed-out eye can be the result!

But sometimes, like the trend line in our logo, we choose to work together. And when we commit the time and resources to do it right, the results are, predictably, amazing.

 

Falconry Group Logo (text)

 

Part one of this series described the importance of minimizing friction and maximizing trust as you attract and manage leads.

Part two describes how these low-friction, high-trust* leads help you feed your beast.

* These adjectives are TLOTL equivalents of free-range, grass-fed, gluten-free, and no high fructose corn syrup.

Why Leads Matter, Reason #2: Leads have unique and valuable insights into how you can get more new business.

If you have an established business, you have customers, employees, vendors, shareholders, and tax authorities who need your attention. Every member of those groups has a commercial relationship with you. Those relationships come with obligations and expectations. Your reward for maintaining those relationships is… …you get to keep running your business. And truth be told, if you’re doing an AMAZING JOB of managing those relationships, you probably don’t need to worry too much about leads. They will seek you out and buy from you. And if they have to crawl through five miles of gravel just to join your exclusive club of happy customers, they will thank you for the privilege.

If you’ve reached this state of business bliss, leads are, understandably, an afterthought. If you’re a generous CEO, you might consider a kind gesture towards them. Perhaps free first aid kits.

But 99.9% percent of businesses don’t have these high-class problems. For those companies, existing commercial relationships consume nearly all their resources. Some growth occurs organically. But customers churn, prices flatten out, fixed costs stay fixed, while shareholders demand predictable, profitable growth.

This reality is why I’ve titled this series of posts, “Why Leads Matter.” If I ask a CEO how to define a lead, many will give a straight-forward answer like, “it’s the people who talk to Sales about buying our product.” That’s a good start, but it’s incomplete.

Like any living beast, your business must eat. You may have great hunters on your sales team. But they hunt leads. Leads feed your beast.

By definition, leads haven’t bought your product, yet. But they’re considering a purchase right now. And that makes them unique.

Your customers and past customers have already drunk your Kool-Aid. Focus group attendees will accept your $250 in exchange for two hours away from home and their opinion of your Kool-Aid in a simulated “I’m thirsty” scenario.

But your leads, right now, are accumulating a ton of information that is valuable to you.

How so? Well, they’re:

  • researching the overall market (analyst reports, research briefs, etc)
  • listening to consultants, resellers, and others knowledgeable in your category
  • talking to salespeople **
  • looking at web sites, advertisements, and promotional offers **
  • receiving email and direct mail, attending webinars, viewing infographics **
  • participating in social media conversations**

** yours and your competitors’

The wisdom of this crowd can’t be overestimated. You could easily pay someone $100K per year to know your market as well as your leads. Maybe you already do. If so, ask them to show you how your leads are being heard in your product, marketing, sales, and operations plans. Remember, these are people who have given you (some of) their attention. They deserve (some of) yours.

Yes, this is my dog (The Mighty Quinn) when he was a puppy. No, I didn't stage this pic. Please don't report me to PETA.

One more nice thing about leads: you’ve already paid for them. Whether you’ve spent $100 or $100 million to bring leads to your door, they’re here now.

Short-term revenue is an ideal way to exchange value with your leads. But it’s far from the only way.

Listen to your leads.

Then feed them to your beast.




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Email: info[at]falconrygroup.com