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Why Leads Matter – Part 1 of 3

b2b marketing, b2b sales, buying process, lead conversion, lead generation, lead nurturing, marketing automation, marketing communications, sales lead management, sales process, trust, truth in advertising, web marketing No Responses »

Aug 102011

b2b marketing leads

I think leads are important.

[I know. Shocking.]

In fact I think the topic of leads is important enough to warrant at least 10-15 uninterrupted minutes of a CEO’s time each week.

As the owner of two small businesses, I know that’s expensive time. Leads are worth it.

In each of my next three posts, I offer a new reason why.

Why Leads Matter, Reason #1: Leads mark the key moment in time when previously invisible and anonymous people trust your brand enough to voluntarily “de-cloak.”

Why do they de-cloak? Do they do it because they’re ready to buy?

Sometimes they are. But at this point, probably not. They may buy later, if they still trust your brand and value your products. Right now, they just want information you have that (they believe) will be useful to them. So they volunteer information they have that (you believe) will be useful to you. And they would like this exchange to be frictionless.

What does “frictionless” mean to your leads in this context? It means that when they “buy” your product information with their contact information, they get what they pay for. Nothing less, and nothing more. If you promise people who fill out your registration form a free buyer’s comparison guide, give them a good one, and promptly. But don’t follow that up with an encore of three promotional emails per week until death-or-the-unsubscribe-link-do-you-part. And don’t tell your sales team to call blitz that group of people. Doing that may yield a few sales (that you might’ve won anyway), but it will leave a poor impression on the 90%-plus of your leads who don’t return your sales reps’ calls.

let's put an end to keyboard rage...

This kind of silent damage to your brand usually goes unreported. Your leads are too busy and polite to complain about it. But it only takes one disgruntled ex-lead to, in a fit of keyboard rage, flame your brand to 5000 Twitter followers, and their 5000 followers, and so on…. The choices only get worse from there, e.g., cease-and-desist letters, public mea culpas that distract your staff, etc…

Let’s not use the lead management process to mass produce disgruntled ex-leads. A poorly designed process won’t mass-produce revenue. In fact it might mass-reduce revenue. Instead, let’s help buyers get information with minimal friction, and then optimize the process to book more new customers.

When we remove friction we make room for trust. Trust, as you may have noticed, is a bit of a scarce resource these days. But real trust, which can only be earned and never bought, is a powerful thing. Trust attracts new visitors to your web site. Trust converts visitors to leads and leads to customers. And over time, trust makes customers into loyal fans who refer their peers and help you attract more visitors to your web site, and so on….

Image credit: Graur Razvan Ionut

The 3 Keys to Marketing Happiness

b2b marketing, budgeting, collaboration, forecasting, fun, marketing to sales handoff, sales effectiveness, truth in advertising, Uncategorized 8 Responses »

Apr 162011

Here’s the deal: marketing is hard. If you think marketing is easy, you’re probably not a marketer. Or a human. Yes, you’re probably some kind of replicant who (that?) has been lucky enough to have the Google algorithm programmed into memory. Or you are, in fact, the Google algorithm, crawling this page right now. [In which case: hey, make yourself comfortable. Can I get you Fresca or something?]

But for those of us who ply the marketing trade, it’s a pretty tough job. Among our long list of responsibilities:

we’re supposed to spend $1 of the company’s money and get $25 (or more) back.
we have to keep the Sales team supplied with good leads, and be neither a father of Sales’ success nor an absentee dad when they fail.
we must stay focused and execute in a constantly changing landscape of internal (e.g., budget, people, products, processes, policies) and external (e.g., media, agencies, buyer behavior, competition, government regulations) variables.

In the marketer’s pursuit of success, this all just comes with the territory. But, in business, “success” is a weird thing. It’s not always a (linear) result of hard work. In fact, it’s sometimes awarded to those who seem, at least on the surface, unworthy. And a jealous rival can always spin an objectively kick-ass outcome into a “gap versus expectations.” Business success is always worth pursuing, but it is rarely captured on our preferred timing or terms. But with the right tools and attitude, success in the form of personal fulfillment is always within reach.

One of my trusted mentors, Lenora Edwards, encourages her clients (consultants, entrepreneurs, and executives) to define a Ten Commandments list. These are ten (or however many are needed) experiences that are essential to making any project, job, or client relationship fulfilling. ”Achieving great results” is a mainstay on my list. Even though it can be squishy and elusive, I have to be chasing a meaningful, measurable outcome. But for me the process is even higher on my Ten Commandments list than the outcome.

Oh gosh. I know that sounds trite. But the oft-maligned and misunderstood notion of getting there has always been vital to enjoyment of my work. The results will either happen or they won’t. Or, as noted above, they will happen AND they won’t. I can’t control the outcome but I can strongly influence it if I’m not too caught up in how it looks. Adopting an “enjoy the journey” approach isn’t just pie-eyed happy talk for me – it’s a survival skill.

So, here are my three keys to marketing happiness. Get ready to smile. Wait, wait… …ok, go!

1. Seek the truth. Also known as “optimization.” I’m spending the company’s money, time, and energy. If I’m not getting a return, I shouldn’t be spending. So I hold myself and my clients accountable for how we execute our decisions. That might require an occasional uncomfortable conversation with IT, Finance, Sales, or a C-level Executive. But the pursuit of the truth is fun, and honorable. And as long as I remember to breathe, those uncomfortable conversations are learning opportunities. And the truth will set us free.

2. Take reasoned risks. Also known as: “managing a marketing program portfolio.” Marketing is about placing smart bets. The bets should be smart. But they also must be placed. This link contains a keyword search for “average tenure of a CMO.” Click it and check out the organic results. The average tenure is around two years, right? Personally, I prefer embracing this reality to wresting with it. Either way, I get my uniform dirty, but the former is more fun than the latter. I try to never be reckless, but also never afraid. And I always keep in mind that — no matter how high the stakes – it’s a game and that games should be enjoyed. Otherwise, why play?

3. Predict the future. Also known as: “forecasting profitable revenue growth.” This is the hardest part of the job but also — when I have the right mindset – the most fun. And if I am diligent about truth-seeking and reasoned-risk-taking, I learn enough to make future-predicting easier over time.

So, what do you think? Is my list missing any “bliss-enabling imperatives?” Tell me yours in the comments.

Smart social media – 5 ways KLM gets it right

B2C, fun, social networking, truth in advertising, Uncategorized No Responses »

Apr 092011

A friend in Amsterdam shared this video on Facebook today, and I was inspired to spin it here on the TLOTL blog. It struck me as a potential “beginning of the end” in the tedious debate of the question: is social media dead?

I refuse to waste pixels issuing birth or death notices for social media (or wade into questions of its citizenship for that matter). But if you are still monitoring social media’s vital signs, or if you just like watching videos, then watch the video. Then read my analysis. And whether you agree with me but think I missed a few points, or you think I’m hopelessly hopped up on social media Kool-Aid, I invite you to make your case in the comments section. [Hey, as long as you're not a comment spammer or some other type of internet n'er-do-well, you can even launch an epic vitriolic screed against all forms of social media containing links back to your blog or Twitter page.]

Here’s my take on what this video and story does for KLM Royal Dutch Airlines:

Launches a new Miami route with a dose of the fun a KLM passenger can have there. Message: when you fly KLM the transportation is part of the destination. And now one of the reasons you would go to Miami in the first place is one of the reasons you’ll consider flying KLM to get there.
Targets a customer segment with a high expected lifetime value. If you’re a major airline in 2011, it’s nice to fill a seat. It’s reeaaally nice to fill it with young people who tend to travel in groups, probably don’t have kids or a spouse to think of, and spend disposable income on international leisure and entertainment. Seats filled (for 16-18 hours round trip!) with those kinds of passengers provide KLM with a captive audience who will buy drinks, meals, movies, and sign up for credit cards and loyalty programs.
Connects a distinctive, generations-old brand with notions of youth, vitality, style, escape and adventure. These themes appeal to a wide cross-section of the traveling public, and indeed have been part of the air travel sales pitch to consumers for much of the last century.
Shows KLM:
a. Using social media. Period.
b. Using social media to listen to customers, and not just to blast out special offers or manage the TV news cycle.
c. Using social media to engage customers in profitable exchanges – “yes, we’ll gladly move the Miami route launch up one week, but you gotta get your raver friends to fill some seats.” I bet shareholders like that part of the story.
Differentiates KLM as a company that rises above the B.S. – at a time when the dominant storylines in air travel are rising fares, nickel-and-dime surcharges, and (in America at least) TSA body scans, KLM is setting a Guinness World Record for the highest altitude dance party. This is really smooth, and the nexus of content and context matters a lot here. How would we feel about this video if this were 1999 instead of 2011? In a world awash in post-Cold War, dot com, fin de siècle giddiness, a thumping, transatlantic, 30K-foot dance party would’ve looked terribly tacky and “me too.”

Leon Pals, a Rotterdam-based trendwatcher, posted on thenextweb.com that even if this video is just a clever concoction of KLM’s marketing department or creative agency, he enjoyed it as an example of effective social media. (Such sleight of hand would seem a needless risk for KLM, in my opinion.)

I would take Pals’ point further and say that even if some level of storyline manufacturing took place, this would only underscore social media’s value as a communications channel.

And BTW, let’s just take it as a given that all media is subject to misuse. We should move beyond moral outrage and accept that, at some level, we’re just going to have to figure out the difference between authentic and synthetic messaging. We can try to regulate and we should. And we can hope that those who think it’s ok to “pee in the pool” (I’m talking to you J.C.-Penny-and-or-the-agency-that-supposedly-acted-of-its-own-accord-to-employ-black-hat-SEO-practices-on-J.C.-Penny’s-behalf) will eventually be caught in the act, publicly shamed, and sent to the big house if necessary.

But in the meantime, we marketers have a job to do, and that is TO SELL. And whether or not J.C. Penny or anyone else is cheating is not our concern. What we need to do is tell great stories that inspire the right customer to engage our brands, and ultimately, buy our products. Well done KLM.

Holster that nerd gun! – 8 Do’s and Don’ts for Successful Sales Meetings

b2b marketing, b2b sales, collaboration, forecasting, inside sales, marketing communications, marketing to sales handoff, sales effectiveness, sales lead management, sales process, truth in advertising, Uncategorized 2 Responses »

Sep 072010

Today I saw a question on Focus.com that I found helpful in re-lighting the TLOTL blog boiler, which had been silent since my vacation to Southern California in mid-August. I literally have 5 post concepts from that trip that I have committed to banging out at some point. But sometimes, seeing a business problem in the form of a question is all it takes for me to overcome a mild case of writer’s block. Here is the question I saw, and my response below it. Enjoy! And, as always, your comments, questions, and protests are encouraged!

The Question: “I just read this blog post from Cloud 9 Analytics (http://cloud9analytics.com/2010/09/02/3-tips-running-a-successful-weekly-sales-meeting/ ). I was inspired to take this to the Focus Network. What are you (sic) tips for running a successful sales meeting? What have you seen that doesn’t work?”

My Answer: Great question! We’ve all been in good and bad weekly sales meetings. And since the stakes are usually high, these meetings are always educational, regardless of how good or bad the numbers are.

The tone and substance of the article you referenced is nicely even-handed and process-oriented. So I’ll go the other way, perhaps erring on the side of bluntness. Here are my 8 tips (4 “WHAT WORKS” vs. 4 “WHAT DOESN’T WORK”) for a good weekly sales meeting.

WHAT WORKS

1) Right audience. The weekly sales meeting needs to strike a balance between too few and too many participants. It can’t be a back-channel meeting exclusive to lobbyists and senators, but neither can it be an unruly town hall. To promote continuous improvement, there needs to be an atmosphere of transparency and collaboration. In my experience, there’s always a point of diminishing returns in meetings, where the honesty becomes a bit less rigorous with each additional attendee.

2) Solid routine. If every week’s meeting seems like bad Reality TV, there may be a lack of structure to the meeting. Call a side-meeting with the stakeholders where you propose a “time budget” for how the meeting will be run. Also get agreement on the specific reports and forecasts to be reviewed each week, and who presents them. Establishing familiarity allows people to focus on analyzing results and proposing improvements.

3) Meeting discipline. This is the weekly sales meeting — a necessity for most companies. For those who need to attend, it needs to be treated with respect. It starts on time, and it ends on time. Habitual lateness and random absences are not tolerated. If you’re on the road and your schedule allows you to conference in, do it, even if you are not presenting. Usage of mobile devices during the meeting must, by definition, be more important than sales (which keeps the lights on and probably pays for, or subsidizes, your mobile device usage). So if you’re using your iCrackoid during the meeting, there must be a family emergency — in which case you should excuse yourself — or a sensitive corporate transaction that can’t wait till the meeting is over. Holster that nerd-gun for the next 60, sit up straight, and pay attention.

4) Facts vs. fiat. If we want to help drive sales, then color commentary must take a back seat to black-and-white truth. The functions that support sales (finance, marketing, operations) often resist quick changes without a logical justification. If they resist for a personal agenda, or no agenda, that’s a “sales prevention department” problem. But if they’re being good stewards of scarce resources (money, people, time), they should be able to review data, and collaborate on solutions. In the long run, this approach builds a broader base of support for the sales team, and drives better results on the top line.

WHAT DOESN’T WORK

1) Hand-waving. If you present at this meeting, you must inspire confidence in your audience. For most of them (especially your CEO) this probably isn’t their first rodeo. They know it’s hard, and that’s why they hired (or had someone hire) a talented guy/gal like you to figure it out. So if you’re not yet performing to plan, show them how you’re getting closer to that goal. And ask for, and accept, help.

2) Learned helplessness. If you took an action last week to fix a problem, please be prepared to discuss either (a) how things are better now, or (b) how things will be better next week. This is especially true if you serve the sales team in a support role. But it’s also true for sales managers who enforce policy.

3) Needless sparring. Some bickering is inevitable when building cohesive teams. But frequent food fights not only waste time, they discourage contributions from smart people who prefer not to enter the Sales Thunderdome — i.e., “two men enter, one man leaves.”

4) Empty proclamations from the ivory tower. I’m talking to you, Marketing-executive-giving-the-monthly-update. We actually do care (a lot) about the focus group or web site usability study you recently conducted. And the Google Analytics reports showing the “engagement lift” from last month’s social media push are interesting (really). But unless you can discuss, numerically, how these projects grow revenue in the current quarter, let’s save it for later. This is the weekly sales meeting.

Guest post from Bruce Lee: 10 simple techniques to improve your advertising and web site copy.

b2b marketing, b2b sales, collaboration, copywriting, graphic design, indoor rowing, inside sales, lead generation, marketing communications, marketing to sales handoff, personal training, Pilates, spinal tap reference, Thought Leadership, truth in advertising, Uncategorized, wordpress themes 2 Responses »

Jul 282010

[Post #1 in the "Other Voices" series, featuring Bruce Lee of CreativeLee Advertising.]

This week I’ve been doing, with a little help from my friends, a mini-makeover on the TLOTL blog. A few of the changes:

Installed a new WordPress theme. Thank you to Sayontan Sinha for giving us the elegant and simple “Suffusion.” I gladly made a small PayPal donation in support of your excellent work on this theme.
Replaced the mugshot that was taken when I was 38 pounds heavier. Thank you to my wife Heather, to Concept2 Rowing (makers of my Concept2E Indoor Rower), and to my personal trainers at Conscious Body Pilates for supporting my renewed commitment to improved health.
Incorporated the “Tall Poppy” color element from the Scearce Market Development brand palette. Thank you to Penny Laine for your work on the original SMD palette and logo. And thanks to Chirag Mehta for publishing your helpful “Name That Color” lookup tool. The HEX# for that color, C04027, doesn’t exactly roll off the tongue.

I’m throwing shout-outs to these people and companies, some of whom I’ve never met in person, to underscore how much the creative process — in marketing, selling, or anything – is a team game. Which brings me to the fourth change I made to the blog this week: a new tagline.

“Tips, tools, and inspiration from marketing and sales masters.”

I’ve always thought the “Lord of the Leads” concept was about mastery of a process; specifically the process of generating and managing “the leads.” But successful practictioners of the marketing and sales arts understand that real mastery depends on integrating an incredibly diverse range of expertise — strategy, financial, product, creative, technical, analytical, operational — into a compelling buying experience for customers. A marketing leader, in particular, must be highly skilled at eliciting and synthesizing high-value contributions from experts in all of these areas.

So, starting with today’s guest post, I’m turning up the volume (to eleven) on the voices of other experts in the marketing and sales workflow.

First up to bat: Bruce Lee from CreativeLee Advertising. Bruce and I are members of a consultants’ roundtablegroup here in Seattle. Two other similarities: it turns out we live about 1/2 mile apart (98112 baby!), and we both previously worked for companies that were acquired by Best Buy. We are also both self-styled word warriors, though there the differences quickly begin to emerge. Because, quite honestly, I’m Don Quixote to Bruce’s Sun Tzu.

Bruce is contributing “10 simple techniques to improve your advertising and web site copy.”

1.Have someone outside your department read what you’ve written, and ask them if they understand it thoroughly. Chances are you’re using some term that makes sense to you, but not to your intended reader. Someone from outside your fishbowl will catch that.

2.Don’t use acronyms. If it’s important enough to mention, it’s important enough to spell it out.

3.Don’t get cute.Never use any derivation of the Got Milk campaign (for example, “Got Trash?” or “Got Pho?”). Never make any allusion that “size does matter.” Leave humor to the experts.

4. Don’t lie. Exaggeration and hyperbole are lies. Omitting important details, or burying them in the fine print, is a form of lying. Someday soon, credit card companies will pay for this transgression.

5. Proofread it out loud. Then have someone else proofread it out loud while you listen.

6. Say it correctly. “Happens only once a year” is better than “Only happens once a year.” (Only Jack kissed Mary. Jack only kissed Mary. Jack kissed only Mary.) Misuse “it’s/its” or “your/you’re” only if you want the reader to think you’re incompetent.

7. Resist the urge to use an exclamation point. Resist!

8. Unless you’re simply listing a commodity and a price (1 gal. 2% milk, $3) include at least one product benefit. (Chocolate Milk. Builds strong bones and kids love it. 1 gal. $3)

9. Try to find a way to work the word “you” into the headline.

10. Know when to bend the rules. You’re trying to communicate with people using only symbols. But when a person reads, they hear a voice talking in their head. It’s sometimes okay for that voice to start a sentence with a preposition.

Why Leads Matter – Part 1 of 3

The 3 Keys to Marketing Happiness

Holster that nerd gun! – 8 Do’s and Don’ts for Successful Sales Meetings

Guest post from Bruce Lee: 10 simple techniques to improve your advertising and web site copy.

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