B2B Marketing Mindset

Leads, people, LEADS! Today, we’re discussing the right way to go about business to business lead generation.  First things first: what is a lead?  Traditionally, when we’re talking about “leads” we’re referring to someone who has shown interest in your offering, and taken some type of action towards it.  This definition has sort of fallen out of vogue because “taking action” has become increasingly easy in the digital age, the bar to entry is too low. Someone downloading an information packet doesn’t mean they’re going to buy, it’s barely a step above handing someone a pamphlet. This is what we refer to as a “Marketing Qualified Lead (MQL),” and it’s a vanity metric. All it can tell you is that someone interacted with your marketing, it doesn’t tell you if they’re in a position to buy, or even interested in your offering, it just means they took steps to learn more. This doesn’t mean the info is useless (a prospect who opens every email you send them can be a viable lead), it just means that you shouldn’t try to push a sale on them alone.  “Sales Qualified Leads (SQL)” are those who’ve made contact with your sales team, and are usually further along in the buying process, or at the very least, actively interested in your offering. These are going to be far fewer in number than MQLs, but far more viable.    Don’t pounce on every MQL that rolls your way.  Burn it into your memory. Just because someone downloaded a paper, signed up for a webinar, etc, doesn’t mean they’re looking to buy, it just means they want to know more. Immediately hitting them with a sales call is not only a waste of time, but can be counterproductive and off putting. Keep them in the loop, offer more information, but don’t immediately kick their contact information over to sales.   Know Your Ideal Customer Profile. This one doesn’t require much explanation, if you don’t know what your ideal prospect looks like, you can’t sell to them. You need criteria as to what a good lead looks like for your business.  Don’t Put All Your Eggs in One Basket. Attracting new prospects is something that requires the implementation of multiple strategies and methods, both traditional and digital, used simultaneously. There is no silver bullet, “this one thing will generate you countless good leads” method.  Become Omnipresent. Your marketing plan needs to be integrated, you need to be everywhere at once. The end goal being to become the first name a prospect thinks of when they have a problem you can solve. This is a difficult balancing act however, as the line between “omnipresent” and “annoying” can become quite thin. Receiving the occasional promotion or announcement because you signed up for a mailing list and seeing the occasional web ad is different from say, getting an inbox filled with promotions and every ad being the same thing. 

Today we are talking about focus groups. What they are, why and how to use them. Stay tuned as we share focus groups gone wrong and much more. What is a Focus Group? Fundamentally, a focus group is a group interview. Get a bunch of people together, show/tell them what you need feedback on, and document their responses. A facilitator guides the interview, asking questions and keeping things on topic, while allowing participants to bounce ideas off each other. This is qualitative data, and provides insight in how people respond to your company or offering in a way that ratings and surveys cannot. It’s a direct avenue to the opinions and perceptions of prospects. When do you use a Focus Group? Testing ad/PR campaigns, new products, compare how you stack up to your competition in the eyes of customers, etc. Really, anytime you need to ask your prospects “what do you think of this?”. Keep in mind that your focus groups needs to consist people who match your target profile. Asking your family/friends will likely earn you unhelpful flattery, or otherwise useless information, you need people who don’t have any particular attachment to you or your offering.

In this episode of the B2B Marketing Mindset, we discuss marketing technology: what it is, how to use it, and when to use it. Some businesses insist on jumping into the deep end of the proverbial marketing pool. Marketing technology has come a long way, and can be incredibly useful, but if you don’t do your homework, you’re just setting yourself up for failure.

Today we are talking about sweeping changes in the B2B market that affect every company and industry and why companies are almost universally seeing lower close rates, longer sales cycles and prospects that just don’t want to talk to them. There are big changes afoot. We’ll help you understand the dynamic and give you strategies to adapt and overcome.

The old adage “a watched pot never boils” doesn’t apply to marketing;  you need to actively monitor what you’re doing, and adjust your strategy accordingly. It seems obvious typed out, but the frequency with which companies will throw significant amounts of budget at marketing, sit around waiting for something to happen, then say “it’s not working” is startling. Listed below are some of the more tangible metrics to keep an eye on: Key Performance Indicators (KPIs): Identify specific KPIs that align with your marketing goals. These could include website traffic, conversion rates, click-through rates, lead generation, social media engagement, and sales revenue. Bear in mind that what may be a KPI for a different company, may not be one for yours. Understand what data corresponds to closing deals (a million page views looks great on paper, but doesn’t matter if nobody’s buying).  Marketing Analytics Tools: Utilize marketing analytics tools like Google Analytics, social media insights, email marketing analytics, and customer relationship management (CRM) software to track and analyze data. These tools are great for finding out how prospects are finding you, and how they’re interacting with your web presence.   ROI Calculation: Calculate the return on investment by comparing the cost of marketing campaigns to the revenue generated as a direct result of those campaigns. This is a fundamental metric for assessing marketing effectiveness. This also ties in extremely closely with point 7.  Customer Acquisition Cost (CAC): Calculate the cost to acquire a new customer by dividing the total marketing and sales expenses by the number of new customers acquired. A lower CAC is a positive sign that your marketing is working efficiently.  Customer Lifetime Value (CLV): Determine the CLV by estimating the total revenue a customer is expected to generate over their relationship with your business. Higher CLV indicates the long-term effectiveness of marketing strategies. A/B Testing: Conduct A/B tests to compare different marketing strategies, such as ad copy, landing page design, or email subject lines. This helps you identify which variations perform better and make data-driven improvements. Marketing Attribution: Use marketing attribution models to understand how different channels contribute to conversions. Multi-touch attribution models can provide insights into the customer journey and which touchpoints are most influential. This ties back to ROI calculation; you need to be able to point out exactly which campaigns, or parts of your campaign, are working in order to track what’s bringing in more money, and what isn’t.  Competitor Analysis: Monitor the marketing efforts of your competitors to see how you stack up. Analyze their strategies, online presence, and customer engagement to gain insights into your own performance. Social Media Metrics: For social media marketing, track metrics like likes, shares, comments, and follower growth. Engagement and reach data can indicate the effectiveness of your social media content. Email Marketing Metrics: For email campaigns, monitor open rates, click-through rates, conversion rates, and unsubscribe rates. These metrics provide insights into the effectiveness of your email marketing efforts. Keep in mind that marketing success is often a long-term endeavor, and the impact of some efforts may not be immediately apparent. Don’t toss out a plan immediately if you’re not seeing perfect results, make changes to your approach incrementally.  Over time, you should see trends and patterns that indicate whether your marketing is working effectively and where improvements can be made.  Intangible Marketing Factors to Consider There’s some things you can’t just assign a number to. At least, not in a way that makes immediate sense. Below are some factors that aren’t quantifiable, but still important to track for assessing the overall impact of marketing on your organization. Broadly speaking: How do prospects feel about your company/offerings? Do they leave positive reviews/buzz on social media? Do customers seem loyal to your brand? These are a bit more difficult to measure, as you can’t put a number on “brand perception”. That said, these intangible measures often have a relationship with more tangible metrics. For example, positive brand perception and customer loyalty can lead to increased sales and customer referrals, which can be quantified. Combining both tangible and intangible measures provides a more comprehensive view of your marketing’s effectiveness. Combining both quantifiable, and more intangible factors allows you to build a holistic image of how your marketing is performing, and plan according to your goals. 

Nine Best Practices to Use LinkedIn for Sales Prospecting LinkedIn is a powerful platform for sales prospecting. Here are five effective ways to do it right. Build a Strong Profile: Your LinkedIn profile is your digital business card. Make sure it’s complete, professional, and showcases your expertise. A strong profile will attract potential prospects and build your credibility. Know Your Target Audience: Linkedin can help you reach your target customers but you first must have a detailed profile. A good profile includes industry, job title, company size, location and more. Personalize connection requests to explain why you want to connect. 3. Engage in Content Sharing and Creation: Regularly share relevant and valuable content on your LinkedIn feed, such as industry news, insights, and tips. This positions you as a subject matter expert and keeps you top of mind. Think strategically about the content you post so that it appeals to the target audience.  4. Join and Participate in LinkedIn Groups: Find and join LinkedIn groups that are relevant to your industry or target audience. Engaging in group discussions and providing valuable insights can help you connect with potential leads. Just be sure to follow group rules and avoid spam.  5. Utilize InMail and Connection Messaging: InMail is a paid feature on LinkedIn that allows you to send messages to people you’re not connected with. Craft personalized messages that clearly communicate how your product or service can address their specific needs or challenges. For your connections, use messaging to initiate conversations, share valuable content, and nurture relationships. 6. Leverage Sales Navigator: LinkedIn offers a premium tool called Sales Navigator, which is specifically designed for sales professionals. It provides advanced search and filtering options, lead recommendations, and the ability to save and track leads. It’s a valuable resource for in-depth prospecting. 7. Monitor and Nurture Leads: Once you’ve identified potential leads, don’t just stop at the initial connection or message. Consistently engage with your connections by commenting on their posts, congratulating them on achievements, endorsing their talents, liking their comments.  Think of LinkedIn as a relationship-building tool rather than a sales medium. 8. Request Recommendations and Endorsements: Having recommendations and endorsements on your LinkedIn profile can boost your credibility. Ask satisfied clients or colleagues to write recommendations for your work. Additionally, endorse the skills of your connections, and they may reciprocate. 9. Use CRM Integration: Some customer relationship management (CRM) software tools integrate with LinkedIn, allowing you to sync your LinkedIn connections and interactions with your CRM. This can help you keep track of leads and manage your sales pipeline more effectively. Ten things to avoid when prospecting with LinkedIn The goal should be to establish trust and provide value to your potential clients, which will increase your chances of converting them into customers. When using LinkedIn for sales prospecting, it’s essential to maintain professionalism and avoid certain behaviors that could be counterproductive or damage your reputation. Here are things you shouldn’t do on LinkedIn when prospecting for sales leads: Don’t Spam Connections: Sending generic connection requests with a sales pitch in the message is a sure way to turn potential leads away. Always personalize your connection requests and focus on building a genuine connection first. Avoid Mass Messaging: Sending the same message to multiple prospects simultaneously is not a good practice. It’s impersonal and can make your prospects feel like they are just one of many. Craft tailored messages for each individual. 3. Don’t Share Irrelevant Content: Sharing content that is not relevant to your target audience or the industries you’re trying to reach can dilute your professional image. Share content that is valuable and pertinent to your prospects’ interests. 4. Avoid Pushy Sales Tactics: Pushing your product or service aggressively in your initial interactions is a common mistake. Instead, focus on establishing a relationship by understanding your prospect’s needs and pain points before discussing how your offering can help. 5. Don’t Overdo Follow-Ups: While it’s essential to follow up with prospects, bombarding them with multiple messages in a short period can be annoying. Respect their time and space, and follow up at reasonable intervals. 6. Refrain from Negative or Controversial Content: LinkedIn is a professional platform, and sharing negative or controversial content that may offend or polarize your audience is generally not advisable. Keep your posts and interactions positive and constructive. 7. Don’t Neglect Personalization: Avoid using generic templates or messages for connecting and engaging with prospects. Personalization shows that you’ve taken the time to understand their needs and challenges, making your approach more compelling. 8. Don’t Mix Personal and Professional Content: While some personal posts can humanize your profile, avoid oversharing personal or irrelevant content on your LinkedIn feed. Keep your focus on professional and industry-related topics. 9. Avoid Adding Unrelated Connections: Adding random connections just to increase your network size can dilute the quality of your connections and lead to irrelevant content on your feed. Only connect with people who are genuinely relevant to your business or industry. 10. Steer Clear of Aggressive Selling in Comments: When commenting on others’ posts, avoid making it all about self-promotion. Instead, contribute valuable insights and engage in meaningful discussions without pushing your sales agenda. Remember that LinkedIn is a professional networking platform, and building meaningful relationships should be the primary goal when prospecting for sales leads. Approach interactions with respect, authenticity, and a genuine desire to understand and address your prospects’ needs.

This is a sticky subject that upon which I hope I can shed some light. Clients often ask for a guarantee: “If I spend $ can you guarantee I’ll receive $$$?” It seems like a reasonable request. After all, clients look to marketing to help them grow their business and if an agency, firm or consultant is good, they should expect a return on their investment, right? Well, it’s not that simple. Do lawyers guarantee outcomes? Do doctors? Stock brokers? Is there anything in business that comes with a guarantee? Yet, I say yes, agencies should offer guarantees, it depends on what is being guaranteed. Today, I’ll share how we handle this type of situation, the different kinds of guarantees and which are the red flags of scammers.

Today we are sharing some crazy stories from our many years in the marketing industry. Bill and I have worked together for three decades and we like to think we’ve seen it all. We’ve made every mistake imaginable and we like to think we’ve grown from the experience. Some of the stories are funny, others embarrassing and still others just bewildering. Join us as we take a journey back through the years to share lessons learned and the pure insanity that sometimes is the marketing business. No clients were hurt in the making of this episode. We think very highly of our clients and take full responsibility for the hijinks we share here.

Today we tackle a sticky subject – problematic sales prospects and how to handle them without losing the sale (unless they are REALLY problematic…) We’ve identified these six types of problematic prospects: Control Freaks – people who absolutely NEED to control the process. It’s their way or the highway. Know-it-alls – they know your offering better than you (or at least think they do) Disrespectful of your time – Taking calls during a meeting, showing up late (or not at all), leaving early, etc. Overly skeptical – 80% of CEOs don’t trust marketers, making earning that trust something of a challenge. Little white liars – Folks who act like they’re buying, but are only trying to get a bit of free consulting. Negotiators – Negotiation is normal, haggling something down to the nth degree for anything and everything isn’t.