MarketingSherpa Blog

The holiday shopping season is upon us – the proverbial golden goose for consumer marketers. I’m sure you’ve planned thoroughly throughout the year, and just have to focus on how to execute, execute, execute in these last remaining days before December 25 rolls around.

But, it’s too late to make impactful changes to your plans, right?

Right?

Well, I’ve been listening to one of those “challenge the model” books on tape (you know, the ones that tell you, “Burn the status quo! The only rules that exist are the ones we impose on ourselves!”). So, I’m understandably pretty worked up. All the same, I say we take on this beast. Let’s try to make a few last-minute shifts and move that needle.

If you can spare a minute away from your daily transactional data, let’s brainstorm a few last-minute ideas to help you get an extra bump in sales this holiday season (and I’d love to hear your ideas in the comments section, as well). After all, anything’s possible. As long as you commit.

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As a native New Englander, I’m accustomed to swings in climate conditions. However, this past month’s weather pattern offered something different. More than 16 inches of snow fell in late October, causing my children to trick or treat in their snow boots. A week later, the temperature reached the low 70s, as if Mother Nature gave homeowners one last chance to clean up their yards before winter settled in.

Part of my Fall family chores is to empty water from the irrigation lines to our lawn sprinkler system.

In MarketingSherpa’s Email Marketing Strategies Workshop, I use the analogy that automated lawn sprinklers systems are very similar to automated email campaigns. I admit that I would in no way have a green grass if I did not have a sprinkler system set to water the lawn every Tuesday and Friday. If I used a hose and sprinkler set, I would most likely be reactive and only water when I noticed the grass turning brown. I’d also be inconsistent on the length of time I watered my tiny meadow.

With the irrigation system, I can select the day, time of day and duration of the water. It works so well that I save time and money, and I can set it and forget it.

Automated emails for higher open rates

I don’t recommend you “set and forget” automated emails, but they are similar in their efficiency, as these campaigns are triggered to be sent on defined sets of rules based on dates, events or behaviors.

Because of their timing and relevancy, automated campaigns achieve higher open rates than traditional email messages. In fact, in the 2012 Email Marketing Benchmark Report, we discovered 43% of marketers found emails sent based on triggers to be very effective, leading all other tactics including segmentation based on subscriber behavior and use of loyalty programs.

The research also found 80% of organizations sent automated emails, with automated messages making up an average 22% of the overall email volume. The chart below shows the most popular automated email messages sent by marketers.

Chart: Manners matter most with automated email messages

Q. What type of automated, event-triggered, lifecycle email messages does your organization deploy? 

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Optimizing the entire funnel is a B2B marketing goal and challenge – lead capture starts the process, and handing (hopefully) qualified leads off to Sales completes it.

When the sale is very complex, the middle portion of nurturing and scoring leads can be lengthy, and a big part of those efforts is having a sound content marketing strategy.

We’ve written about content marketing quite a bit in our case studies and articles, offering tactical advice. And just a few weeks ago on the MarketingSherpa Blog, MarketingSherpa Director of Editorial Content Daniel Burstein published a post explaining why the value of your content is more important than the length of any one content piece.

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Is one whitepaper and a few articles enough?

Daniel provided a great set of guidelines for creating solid content, but how about total volume? How much content do you need for a sound lead nurturing marketing strategy?

I spoke with Brandon Stamschror, Senior Director of Operations for the Leads Group at MECLABS (the parent company of MarketingSherpa), to get his reaction to some follow-up questions from a webinar he hosted on lead nurturing.

One question covered content marketing: “How do you know when you have enough educational content? Is one whitepaper and a few articles sufficient in most cases?”

Brandon’s response was immediate, “I would say no. One whitepaper and a few articles is not enough.”

He says you ideally want to create enough content to fill a “content calendar” aligned with your buyer’s persona and walks that individual through the stages of the buying process.

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For years, the debate on social media marketing centered on ROI. Marketers asked themselves “How can we measure the impact of social media?” “What’s the ROI on Twitter?” “How do we know if LinkedIn is worthwhile?”

Thankfully, those days are behind us. Data is available from tools both paid and free. Unfortunately, for whatever reason, not every marketer has taken advantage, as you can see in the chart below from Adobe and Econsultancy, which we pulled from The Social Media Data Stacks e-book.

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Five of the six metrics listed above have a greater number of marketers saying they’re important than the number of marketers tracking them. This is like saying it’s important to eat right and exercise while eating chili cheese fries and canceling your gym membership. It just doesn’t make sense.

But don’t worry — we have you covered. Here is a list of free tools you can use to start measuring each social media metric.

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Does Walmart feature lower prices than your store? Is there a services company in India, or a manufacturer in China that can undercut your price in your B2B industry?

If you are not the lowest-priced offering in the market, you need a differentiator to justify your premium price. Why should customers pay more for the honor of buying from you?

I’ve written before about how a good story is integral to marketing a company that is not the low-price leader. But in this blog post, let’s take a step back. That story needs substance. Where is your substance?

Well, I’ve recently been thumbing through a new book that has an excellent example of one place you can find the substance behind your story – The End of Business as Usual: Rewire the way you work to succeed in the consumer revolution by Brian Solis.

Brian will be a keynote speaker at Email Summit 2012, and every attendee will receive a copy of this book, courtesy of ExactTarget.

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Every time I look through the new 2012 B2B Marketing Benchmark Report, I find something interesting or useful from this research based on 1,745 surveyed marketers.

A B2B marketing challenge

Yesterday, I actually came across a chart I find disturbing:

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Hopefully your deals aren’t moving to the left side of this chart. As you can see, compared to last year, the average B2B deal is declining. Deals under $10,000 have increased (with deals under $1,000 up 100%), and all deals over $10,001 are down.

Similar to the data point that the smallest deals are increasing the most, the largest deals – over $250,000 – are down by the largest percentage.

Yikes.

Part of this is likely attributed to the ongoing economic difficulties. Some larger B2B purchases are perhaps being put off until the financial outlook is better. Although, our research found one reason for this decline:  the economy is causing B2B companies to feel pressure to accelerate their current pipeline and get deals closed.

The problem with this strategic response is that now B2B companies are competing on price instead of value and are offering promotions that result in overall smaller deal sizes as well as including fewer products and services in the deal so it’s a simpler sale.

Another data point from the report also supports this research – compared to 2010, the average length of sales cycles in 2011 was much shorter.

Comparing 2011 to 2010, cycles of:

• Less than one month, up 15%
• One to three months, up 4%
• Four to six months, down 2%
• Seven to 12 months, down 7%
• Over one year, even

One common reason for a shortened sales cycle is the deal becomes less complex. For example, Sales might work harder to close multiple one-year licenses to meet their quota instead of taking the time to nail down the all-you-can-eat enterprise license agreement. Read more…

Search engine marketers have based entire careers on improving rankings. They fight tooth and nail to reach the top of the page, win more traffic, and push all their competitors down a notch.

But what if you could get more traffic by pushing your competitors down a few more notches? Or pushing them down on more keywords? By focusing on universal search, you can do just that.

Search engines do not strictly deliver links to webpages anymore. They deliver links to images, videos, products, news and more. This is called “universal search.” Just check out the results from this recent Bing search for “storage shed.”

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This page links to five different types of content. If you become a master at creating and search-optimizing this content, then you can claim not just higher rankings — but more rankings.

Here are some key categories of content and tactics pulled from MarketingSherpa research: Read more…

At B2B Summit in Boston, I was having dinner with MarketingSherpa Research Analyst Jeff Rice, and I asked him, “What question did you receive most often on the LEAPS Certification Email Workshop tour?” I was expecting it would be about relevance or deliverability, list building or list segmentation. What he said really caught me off guard. …

“Our biggest question is from nonprofit marketers. They want to know what B2B and B2C tactics are effective for them.”

Excellent question. Here are a few tactics that B2B and consumer marketers use regularly that can work especially well for nonprofits. …

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Last week’s MarketingSherpa B2B newsletter article covered social media advertising. In gathering information for that story, I had the chance to interview three social media experts. One area that came up in each interview, but didn’t make it into the story, was Google+.

Obviously, that platform wasn’t included in the article because Google+ does not currently offer advertising.  But, since Google is such a major player in online advertising, and its struggles with social media are well-known (see: Wave, Orkut, Buzz), it was interesting to find out what our three practitioners thought about the latest splash in the social media world.

Google’s social track record is not great and the jury is very much still out on how effective Google+ will be in regard to making inroads into Facebook’s channel domination. Even Orkut, which was quite popular in specific countries such as India, Iran, Brazil and Estonia, has been steamrolled by Facebook in recent years.

With all this in mind, Google is still Google, and it is worth a few minutes of your time to think about how Google+ might fit into an overall digital marketing strategy. Read more…

Originally published on B2B LeadBlog

I just got back from this year’s round of MarketingSherpa B2B Summits in Boston and San Francisco, where I provided one-on-one coaching to attendees, marketers from Fortune 500 organizations, leading private companies, and emerging businesses. (You can read more about who attended here.)

Frankly, I don’t know who walks away more enlightened — the marketers I was coaching or me. Every year, I receive a personal introduction to the struggles they’re facing every day. And even though the latest MarketingSherpa B2B Marketing Benchmark Report essentially reported that it’s tougher than ever to be a marketer, you really can’t grasp how challenging it is until you’re working one-on-one with someone who is essentially a lone ranger for marketing within a large, complex organization.

Here’s what I learned during my coaching sessions this year: to advance in this economy, the C-suite absolutely must recognize the value of marketers and marketing. As part of that, they must give them the time and resources to set the foundation for best-in-class lead generation efforts. Especially considering that, year after year, attaining the highest quantity and quality of leads consistently remains marketers’ highest priority — just check out the graph at right.

Unfortunately, after too many coaching sessions with marketers who had neither the time nor resources to set strategy, I suspect too many CEOs think that most of what they learned in the marketing 101 course they took decades ago still applies today. The reality is (forgive me for preaching to the choir) is that marketing has been transformed in the past ten, even five, years! In fact, as with most everything these days, change is the only constant and you better keep up, or else. You can thank the cut-throat economy for that.

Revenues are scarce. So smart organizations are scrutinizing how they’re spending every penny of their resources. They want to make sure their highest-compensated sales professionals are spending their time closing the biggest deals they can, not qualifying leads or prospecting. They know that’s marketing must lead the way in ensuring this happens, so they allow their marketing organizations the time and resources to set the foundation to do so effectively and efficiently.

Their CEOs establish the directive for marketing to develop:

• A Universal Lead Definition (ULD) that prioritizes and defines the degree of a lead’s sales readiness, and requires the input and buy-in of both the sales and marketing teams. Learn more about creating ULDs here: Lead Generation Checklist: Universal Lead Definition.
• An Ideal Customer Profile (ICP) that uses the unique attributes of prime customers to prescreen potential opportunities. ICPs identify decision makers and key influencers, and ultimately serve as the basis for defining a sales-ready lead. Learn more about developing an ICP here: Lead Generation Checklist: Ideal Customer Profile.
• Accurate, manageable data that details the contact information of prospects who fit the ULD and ICP. Learn how data can make or break your marketing efforts here: Do You Expect Your Inside Sales Team to Practice Alchemy? And here’s a webinar replay that examines the power of data: Teleprospecting that Drives Sales-Ready Leads.
• A defined marketing and sales funnel that spells out specifically when a lead should be passed along to sales, or sent back to marketing for further nurturing until they are ready to move forward in the buying process. Read more about that here: Four Reasons why Funnels are a Marketer’s Best Friend. Or watch our most recent B2B Lead Roundtable webinar: How Marketers are Transforming Mounting Pressures into Revenue.
• A clear, concise value proposition. Read more here: Why a Value Proposition Makes Marketing Good.

Unfortunately, very few marketers I spoke with in Boston or San Francisco had the executive support to set this foundation for marketing success. So it became challenging to provide advice that would lead to sustainable, long-term optimization. Nonetheless, we had plenty of “ah-ha” movements. But those quick wins were often centered on strategy designed to circumvent or overcome a flawed foundation. This felt like the equivalent of telling someone what color to paint the walls on a building with a crumbling infrastructure. After all, you can have the perfect messaging, but if that message is going to a list that’s filled with inaccurate data and contacts, or doesn’t include those who are most likely to buy, you’re wasting time, energy and money.

So what did I tell those marketers?

For the most part, I advised them to do what they could with what they have.

• Even without executive support, marketing can document the state of their current lead management process; and they should do so immediately. Without precisely knowing what’s happening with leads right now , marketers can’t identify the greatest bottlenecks or areas for improvement. But they can’t make any assumptions. This mean they need to meet with their sales and marketing leaders, along with their practitioners. Only then will marketers have a clear understand of the current state of affairs. By the way, getting all of the stakeholders together to agree on the issues and prioritize solutions is the perfect start to a funnel optimization process.
• Even without executive support, marketing usually owns the data. They can make sure it’s up to date and free of duplications. They can quarantine new data before it’s entered into the system to ensure its accuracy and make sure they’re valid leads. They can analyze and clean their lists to ensure that messages are targeted to those who are most likely to buy.
• Even without executive support, they can analyze their existing customers to create an ICP.
• Even without executive support, they can build a content library. They don’t need to be great writers; they just have to understand their value proposition and personas, and then repurpose existing content or identify third-party content that fit both. That’s not as overwhelming as starting from scratch.
• Even without executive support, marketing can demonstrate their value to sales through only sending them qualified leads. If marketing delivers a great “product,” sales will want more.

When sales begins noticing that they’re closing more deals faster, they’re going to be eager to collaborate, revenues will grow, and leadership will fully realize the value and power of marketing. After all, businesses that thrive in the new economy will be the ones that give marketing the time and resources to set the strategies upon which successful campaigns are built.