MarketingSherpa Blog

I recently answered a couple of questions that came up in a LiveClass with the MECLABS SuperFunnel Research Cohort (MECLABS is parent organization of MarketingSherpa). We are sharing them today on the blog as well in case they help you with your own efforts using content to help attract leads into your funnel.

How do you balance talking about the book (as a lead magnet) and highlighting the company that’s behind it and the CTA?

I think it’s important to remember the role of each. The book is the product you’re “selling,” (whether they are buying with money or just their time, trust, and information), so the focus should be on the book. That gets the majority of the micro-yeses.

The micro-yes(es) for the company behind it (and as I mentioned frequently, the author), are part of “Yes, I believe” and “Yes, I want this from you.” It’s the credibility for the book.

And then the CTA of course is the final micro-yeses. The main focus here is being clear what they have to trade to get the book – and emphasizing how the perceived value is greater than the perceived cost (which is why “get” can be better on a button than “enroll”).

As for the “balance,” I don’t have an exact formula. It’s probably something like 80 percent on the book, 15 percent on the author and company, and 5 percent on the CTA. That is just a rough ballpark.

But I want to encourage and remind you how books are sold – authors tend to offer information, value, to people who will never buy or crack open the book. They aren’t necessarily selling by selling (sure it happens some on the book jacket or in ads), they are mostly selling by serving.

So that is the fundamental question you have to ask yourself if you are trying to get people to download a book – how can I “sell” by serving?

And that means your landing page doesn’t even have to be a landing page. What if it was an article? Or an interview? To spark your thinking, here is an interview article I did with some Wharton professors about their book – Customer-Centric Mobile Marketing: Interview with Wharton’s Peter Fader and Sarah Toms. What if you tested that against a traditional “selling” landing page? Or at least had some element of the value they pull from their book in this article on your own landing page?

By the way, this book is a perfect example for why it is so hard to say the exact balance on the page. If you just put “by The Wharton School professor Peter Fader and Wharton Interactive co-founder Sarah Toms” on a landing page, that would provide credibility right there. That doesn’t take up much space at all. But Wharton is such a powerful brand in the business world, it provides instant credibility.

In general, are the principles about VP (value proposition) on the book same for a more simple lead gen offer? Infographic, etc.?

The basis of the MECLABS methodology and well-known conversion heuristic is fairly simple and straightforward – to get someone to say “yes,” they must perceive more value than cost. All the rest is commentary.

So yes, while the principles are the same, the extent of work on each side of the fulcrum can vary. And it also brings up a fundamental question that you will have to answer for your unique audience. Is a 109-page book on the cost side of the spectrum, on the value side, or both?

Testing is the best way to answer that. My best guess is this though – if your offer is to save people 10 hours per week with simple automation tips, my guess is that a 109-page book is seen as more of a cost than a value. You’re selling quick. You’re selling time savings. A full book goes against that message. Here, some quick checklists might be a better lead gen magnet.

However, if you’re selling the best way to find the right person to hire, that 109-page book might be more on the value side. Hiring is complex, it’s hard to find the right people, there are legal issues and corporate dictates to follow, and on and on. In that case, the ideal customer might not want a simple checklist, they want to understand the topic in depth.

You mention “principles,” so I thought it might be helpful to bring up some principles Flint McGlaughlin, CEO, MECLABS and MarketingSherpa, has taught in the past about lead management:

• Leads are people, not targets – which is why we want to create Customer-First Objectives
• People are not falling into the funnel, they are falling out – which is why we need that powerful value prop to power them through the funnel.
• We are not optimizing webpages or call scripts, we are optimizing thought sequences – which is why there may be differences between a book offer and a simple lead gen offer, and as I mention above, even different thought sequences between book offers in different industries to different ideal customers.
• To optimize thought sequences, we must enter into a conversation and guide it toward a value exchange – which is what our funnels are for.

You can read a nice, quick synopsis of these principles in this old blog post – Lead Management: 4 principles to follow.

Marketing has a language all its own. This is our latest in a series of posts aimed at helping new marketers learn that language. What term do you find yourself explaining most often to new hires during onboarding? Let us know.

This article was originally published in the MarketingSherpa email newsletter.

Lead attribution is the process of determining which marketing activities should be credited for bringing in a potential customer, also known as a lead.

The exact definition of what is considered a lead will vary based on the lead management process at each company, but for the purposes of this article, we will consider a lead as a potential customer that indicates interest in a company (for example, filling out a form or calling for more information).

Lead attribution is extremely valuable

Lead attribution is both extremely valuable and maddeningly difficult.

It is so valuable because if companies know which marketing activities produce leads, and which do not, they can optimize their marketing investment. As department store owner John Wanamaker famously said more than 100 years ago, “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.”

So even though lead attribution doesn’t have the creative glory of other marketing practices like copywriting, design, content marketing or branding, don’t overlook it. In fact, I’m writing this blog post because I received a question when I was waxing poetic about lead attribution in the recent article – 8 Mini Case Studies of Using Marketing as a Force for Positive Change in Our World While Getting Results for Your Company and Clients. In the article I say …

“Listen folks, I’ve been doing this a long time. So when I started looking for stories for this article, I had my assumptions about which marketing tactics this article was going to cover:

Landing page optimization to better communicate value —that’s a given.

Content marketing — probably more than one mini case study.

Better ad targeting — of course.

But lead attribution?

Valuable tactic? Absolutely. But it’s boring, behind the scenes, and has little direct correlation to bring about positive change for people. At least, that was that my assumption.

If you’ve had similar assumptions, check out this next story.”

The mini case study goes on to tell the story of how a marketing attribution technology helped fuel a little friendly competition between radio stations in a radiothon that ultimately raised $500,000 for Feeding America during the COVID-19 pandemic.

Which brings up the point — while lead attribution is the term I most often hear thrown about, attribution can be applied to any customer action that companies seek, including product purchases or, in the above case, donations during a radiothon. For that reason, there are other similar terms — like marketing attribution or revenue attribution – that refer to roughly the same thing: understanding which marketing or advertising (or even sales or public relations) activities contribute to a company achieving its goals.

Read more…

What drives a successful lead generation and nurturing strategy for a complex sale?

Is it the nature of the leads themselves? Was its success predetermined at the very birthing of the lead because of the way you generated the lead? For example, a lead filling out a hand-raise form for your service has a far likelier chance of success than a lead clicking on a PPC ad for a free iPad.

Or is it the learned behavior of the lead, the environmental factors you influence them with through your lead nurturing. In other words, no matter how good the lead is, you need to shepherd these people along and help them understand the value of your product or service.

True success requires both quality lead generation and intelligent lead nurturing. Here are tips and examples from some successful business enterprises to help you get better leads and nurture them effectively. (This advice has been edited for clarity and brevity)

This article was originally published in the MarketingSherpa email newsletter.

NURTURE

Answering the unasked questions in the customer journey

Kristian von Rickenbach, co-founder, Helix:

 A Helix (mattress and bedding product manufacturer) lead will convert on average in three months. In that time, they are researching and evaluating dozens of mattress brands and many more mattress types.

We focus heavily on lead nurturing through drip emails for people who come through our mattress customization quiz.

With the personalization quiz, we are able to capture unique attributes about how people sleep. After completing the quiz, users are asked if they want to save their match. With this audience, we know a few things:

1) They took the time to get to the site and complete the quiz

2) Hand raised to save their mattress with the intention to return, and

3) Most importantly, their name

Personalization clearly resonates with this audience and we included the customer’s name in email subject lines. After doing that we saw a 54% increase in open rates which resulted in a 69% increase in revenue generated from that campaign.

Through various creative tests, we homed in on what specific value propositions over-indexed from an engagement and conversion perspective and use that to inform content for our standard drip and promotion campaigns.

Affordability was one value prop that stood out.

Knowing that we were launching with a new financing partner, we sent an email out that had unprecedented returns for the business. After seeing the performance of a one-off financing options email, it was apparent that this is an important proposition in their purchase decision.

Since that email, we have featured similar content as a standalone email in our welcome series and significantly decreased the five-drip series decay curve. On average, we see a 38% decrease in open rate from welcome series email one to email two and so forth. After adding the financing email to the series at touchpoint three, the trend reversed and increased 15% from email two to email three.

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“People don’t buy from websites, people buy from people.” This is an essential principle from the MECLABS Institute Landing Page Optimization certification course (from the parent research organization of MarketingSherpa).

With so much focus on martech, marketing org structure and website optimization, and channels ranging from print to digital advertising, this principle can be easy to forget.

Yes, marketing technology is powerful. Yes, the correct structure of the marketing department and IT department are necessary; and you certainly want a well-functioning website.

But this is just infrastructure. Mere roads.

You, dear marketer, are in the driver’s seat. You decide how to use these roads.

The most effective way to use them is to connect with other people. Remember that everyone behind the technology is a real, complex human. And everyone on the receiving end is a real, complex human with hopes and fears, needs and wants, goals and pain points.

Here are five examples to give you ideas for bringing humanity back to your marketing.

Example #1: Engage with influencers

Every B2B industry and B2C niche customer community has influencers. Rock stars to that specific group of people, even if no one in the general public knows who they are. They’re more than a brand or a logo; they’re a person. And when it’s the right person for your ideal customer, your customer deeply wants to learn from these influencers.

“I would say don’t be afraid to talk to your influencers in your industry. Engage them and try to partner with them,” said Mike Hamilton, Director of Marketing Programs, Exterro.

Exterro is a legal software company specializing in e-discovery. When it launched its vendor-neutral E-Discovery Day virtual event three years ago, the team was able to get a couple of key influencers on board. In Exterro’s case, a few of these influencers were federal judges.

Having federal judges speaking on a webcast back then was a big deal. So, Hamilton started calling other influencers in the industry and used the federal judges’ names as a proof point that E-Discovery Day was designed to be a day of education and not vendor-speak. Exterro opened it up to competitors, law firms, anyone in the industry. As a result of bringing all these influencers on board, the team was able to get more than 2,400 event attendees this year, an increase of 70% from 2016.

“If someone has a blog in your industry, and you think they write great content at the same audience as you, send them the email, or don’t be afraid to call them and just ask them what they’re doing, how they’re looking to grow their influence, and how you could potentially partner together. Because the reason why I think E-Discovery Day was so successful was we got buy-in from a lot of influencers in the community at the very beginning,” Hamilton said.

Example #2: Talk to one person … or account

Marketers can do amazing things with data and automation these days. However, sometimes it’s worth singling out important accounts and customers and giving them a more manual, human touch.

This may seem overwhelming at first, but if you analyze your most valuable customers to determine who your best customers will be, you may find that some version of the Pareto principle is at play. In other words, 80% of your revenue may come from 20% of customers.

Trapeze Group, a provider of hardware and software to the public transit industry throughout the world, took an account-based marketing (ABM) approach to try focusing and humanizing its marketing to specific accounts.

They started a pilot program with a public transit agency in the Los Angeles area, and positioned the ABM strategy in the business as “ensuring that it was not just a marketing or sales function but also that of project management and customer success,” said Michelle McCabe, Manager of Demand Generation and Marketing Operations, Trapeze Group North America.

For example, the team created a personalized magazine just for that account. The magazine contained a combination of custom content that was created from scratch for the people in that account as well as repurposed content. “We knew that some of the C-levels were a little bit more traditional. So we felt that a print magazine might speak to them a little bit more than something digital, which is why we went for a printed magazine versus digital specifically for this account,” McCabe said.

In addition, the team created a 3D-printed statue and sent it specifically to one person in the account. “It said the word ‘innovation’ because that spoke true to his role and his overall mission. He did receive it, and he thanked us for that, which was great,” McCabe recounted.

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Embarrassment. It’s a common emotion I hear from marketers after reading or watching a MarketingSherpa case study.

“The work these marketers are doing is amazing! And my marketing program is a mess. I’m overwhelmed by data. I don’t have enough resources to monitor social. My website doesn’t load fast enough …”

Today’s blog post is basically our way of saying:

Hey, it’s OK if you’re not a perfect marketer

Because no one is. Even here at MarketingSherpa, our reach is further than our grasp. There is so much more we’d like to do to improve our own marketing.

Which is why there was more than a little schadenfreude when we received an impressively erroneous direct mail piece from Google trying to use its hoards of data to personalize a message to us that would convince us to buy AdWords.

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“An object at rest stays at rest and an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force.”

Those words probably sound familiar to you, as Newton’s first law of motion (the law of inertia). As a marketer, you can think of them as a physics-level explanation of a psychological phenomenon — customer behavior.

Rare is the customer who will go from zero to purchasing your product. That is, the impulse purchase.

For all other customers, they will tend to stay at rest until you get that ball rolling in the direction you want it to go.

Building momentum with intermediate payments

How do you start building momentum? Well, there are two other crucial payments from the customer that you should earn. And we’re calling them out by name in today’s MarketingSherpa blog post because, while your company may be doing them on some level already, these intermediate payments often get overlooked and under-resourced in favor of the granddaddy of them all — the fiscal transaction.

But all three of these payments require a value exchange, not just the fiscal payment. So make sure your company is providing unique value in order to earn all of these payments.

Payment #1: Attention payment

In the discovery phase, your ideal prospect shows some interest or has a felt need for your product. Sometimes this is front of mind, and they are particularly interested in the topic in their daily interactions.

Other times, it’s very subconscious, and they don’t even realize they were ever considering purchasing your product or even your product category until they come across your message.

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Marketing has a language all its own. This is our latest in a series of posts aimed at helping new marketers learn that language. What term do you find yourself explaining most often to new hires during onboarding? Let us know.

A squeeze page is an interstitial page with a form. In other words, if you link to a piece of content your prospective customers want, this is the page they get first. This page asks them for more information before they can get that content.

The squeeze page is the tollbooth on the expressway of information

Squeeze page is not a neutral term. It is pejorative, indicating disapproval with the process of “squeezing” people for information before giving them what they want.

Other more neutral terms for squeeze page are gate, content gate, gated content, information gate, or simply — lead form, lead gen form or lead generation form (although, not all lead forms are squeeze pages. Some are simply on landing pages that describe services and are a way for potential customers to ask for more information).

The information on the lead form is usually used for some type of lead nurturing or sales follow-up effort — ranging from subscribing people who fill the form out for an opt-in email list, setting them up with a drip campaign, following up with a sales call (or emailed sales pitch), or a combination of these tactics. (However you end up using information filled into a squeeze page, make sure you clearly communicate that to prospects before they fill out the form on that page, supported by a link to a privacy policy as well.)

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“DLT is a value-added reseller. We work with the public sector, pairing some of the leading technologies and software solutions in the industry and helping to deliver those into the public sector,” said Tom Mahoney, Director, Marketing Operations, DLT.

The company helps to eliminate the obstacles to getting cutting-edge products and services into the hands of the government employees who need to be using it.

In the spirit of eliminating obstacles, DLT decided to do just that with its own customer experience by optimizing the company’s website and content.

When looking at the website, Mahoney said he and his team asked themselves, “Was it performing for us, was it delivering the message we wanted to deliver and was it easy to use?”

Mahoney pointed out that if the website isn’t working for you as a marketer, then it is definitely not going to work for your customers.

“We couldn’t even find or access the type of content that we wanted to be seeing, and we had built it,” he said. “We had to take stock of that, step back and ask ourselves what the website is meant to do and how can we make the experience a little more optimal?”

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I was in Starbucks the other day, and in walks an older gentleman. I couldn’t help but notice that people kept focusing on him and chatting him up — in line, while waiting for a drink, etc.

I could overhear the conversations a bit, so I asked someone sitting near me, “Was that guy in the NFL or something?” He responded, “Yeah, that’s Rocky Rochester. He was defensive tackle for the New York Jets in Super Bowl III.”

He happens to sit by me, and we strike up a conversation. He notices I’m wearing a Hofstra shirt, and he says, “Hey, we used to practice there.” Then, when I notice his Super Bowl ring on his finger and mention it, he does something that simply shocks me.

He just hands it to me. So, I’m sitting there, holding a ring from Super Bowl III. The Super Bowl of Super Bowls. Broadway Joe. The Guarantee.

I share this story because inbound marketing was on the top of my mind in that coffee shop on Sunday morning — we were putting the finishing touches on the MarketingSherpa Inbound Marketing for B2B Quick Guide  — and I realized this story was the perfect analogy for effective inbound marketing. Often, we get so focused on data and metrics, technology and automation that we overlook everyday human interactions like this.

However, normal human interactions are what we should be trying to emulate with our marketing, especially inbound marketing.

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It’s difficult being caught between the “soft” marketing art of social media and the world of hard B2B metrics. That’s where many B2B social media marketers have found themselves, but as social media evolves, it’s coming into its own as a true driver of company revenue.

There are mistakes to be made, though, if you don’t evolve social to its full potential. These mistakes can not only hurt your credibility in the company but also overall respect for social media as well.

Mistake #1. Keeping social media siloed

Social media marketing can be a lot of company and product updates, customer service fielding and not much else — if you let it.

Take the word “social” to heart and reach out to co-workers in other areas to broaden the value social media marketing has — not only for customers but within your company as well. Including other teams in social media efforts will also help internal understanding about its value.

For example, there was a time when the people in positions that like to quantify things in their relation to the bottom line — data teams, CFOs —  were seen as the enemy.

Baseline measurements are important, and as social media has evolved, it’s gotten easier to understand how it relates to the bottom line with real, non-“fluffy” numbers to show.

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