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Posts Tagged ‘lead generation’

Ask MarketingSherpa: Mapping the prospect conclusion funnel [includes free PDF example]

August 29th, 2018
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We frequently receive questions from our email subscribers asking marketing advice. Instead of hiding those answers in a one-to-one email communication, we occasionally publish some of them here on the MarketingSherpa blog so they can help other readers as well. If you have any questions, let us know.

Dear MarketingSherpa: Hi Daniel, I’m following up on the conversation started on Twitter about your blog post. My questions are:

– What was the main realization that took you to write this article?

– Do you think that this works for businesses in any industry? For example, some businesses are mostly offline, is it wise to invest time in creating a funnel for those as well?

FYI, this is the article I’m talking about — Marketing 101: What is funnel creation?

Looking forward to hearing back from you.

Thanks.

Dear Reader: I wrote the article because I received questions following the publication of this article: Website Development: How a small natural foods CPG company increased revenue 18% with a site redesign

Yes, the funnel works for any fairly complex purchase. This was true before the internet. Think about buying a car before the internet. First you saw the ad. Then maybe you filled out a business reply (BRC) card. Got invited in for a test drive. Test drove cars at competitors. Get to price negotiations. Etc, etc.

The funnel is a human decision-making phenomenon

I’ll go a step further. The funnel works for any fairly complex human decision, not just purchases, and certainly not just online. For example, you don’t instantly decide someone you meet in college is going to be your best friend. There’s a process.

And that begins with exposure to that person in the first place. You made micro-decisions to attend the same club meeting that person did, you approached them after the meeting, you had a good conversation, you invited them to hang out with your buddies, your buddies liked that person (third-party verification), you hung out more and more, you confided trust in that person (form fill with annual revenue info), that person confided trust in you … 40 years down that funnel, your best friend is giving a toast at your daughter’s wedding (the final purchase).

In a vacuum, the funnel still exists

The reader asked if it is it wise to create a funnel. It’s important to note that the funnel exists whether you choose to actively manage it or not. Take the example above. Your best friend didn’t choose to create a funnel to end up giving a toast at your daughter’s wedding. There were a set of decisions that you naturally made to get to that point.

It’s the same with the buyer’s journey. If you’re selling a car, there are a series of decisions a buyer will make on the path to deciding whether to purchase that car, whether you’ve set up a funnel or not.

What you can do is try to discover what these paths to purchase are, and then how you can use your marketing, sales and other resources to help them make that decision.

Let’s look at an example where we map business activities in a funnel to a set of conclusions a prospect has to reach for a B2B services contract.

Prospect conclusion funnel example

[Click here for an instant, free download of a PDF version of the Prospect Conclusion Funnel Example]

Let’s break down the example.

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Marketing 101: An intro to social listening, why you should become an undercover social media agent (and where to begin)

July 3rd, 2018
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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.

In the early 2000s when social media networks like My Space and Facebook first came out, many of us thought they were just a passing fad. We were wrong.

These social networks have been so successful because people are hardwired to be social. And they want to share on social platforms.

Then businesses began to realize that customers were reacting more positively toward this gentler inbound strategy as opposed to the traditional, more aggressive outbound methods. Today, social media marketing is a vital part of most companies.

Yes, social media marketing is here to stay, and statistics show that it reigns as king of the mountain in the business world, being one of the most widely used lead gen tactics.

Most Widely Used Lead Gen Tactics

If you have been trying to avoid learning hashtag lingo, retweet etiquette and analytics, then chances are your business won’t last long among its many competitors. Because THEY most certainly are utilizing social platforms to their advantage. You, on the other hand, are trying to execute your business strategy blindfolded.

Some benefits of social listening

Even if your business doesn’t have the budget for a dedicated social media analyst or the latest and greatest social monitoring tools, you can still go ahead and set up some accounts. Twitter, Facebook and LinkedIn are some of the most popular ones but you should conduct some sleuthing to determine which social media platforms are the best fit for your ideal customer.

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Optimizing Email Capture: 9-point checklist to grow your email marketing list by minimizing the perceived cost of opting in

February 27th, 2018
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In the early days of email marketing, many sites used to brag about their FREE email newsletters and try to entice customers to SUBSCRIBE FOR FREE.

Today, many email marketers have simplified the ask to “Subscribe Now” or “Send Me Updates.” Email newsletters with no monetary cost have become so commonplace that it is no longer worth mentioning.

Notice how I said “no monetary cost” as opposed to “free.” Email newsletters aren’t actually free, and they never were. Sure, the vast majority do not require a monetary payment, but they cost the customer’s time. And the friction and anxiety involved in signing up is essentially a cost to the customer as well.

So to help you get more opt-ins for your email list, here is a nine-point checklist for minimizing the perceived cost of the email capture. The checklist is from the Email Messaging online certification course taught by MECLABS Institute (MarketingSherpa’s parent research organization).

You can click here to click here for a PDF of the Email Capture Cost Force Checklist (no form fill required, instant download), and I will walk through the checklist step-by-step in this blog post.

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Momentum Marketing: How to get the ball rolling toward a purchase decision

September 12th, 2017
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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 101: What is a squeeze page?

August 25th, 2017
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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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Marketing 101: What is a radio button?

August 11th, 2017
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Radio buttons — what are they, and how do marketers use them?

Well, like most marketing tactics, it’s something you’ve seen everywhere but simply might not have known the name for.

A radio button can be used in any form where you need people to make choices, like a survey, newsletter sign-up or a lead generation form.

This example is from an experiment in the research library of our sister site, MarketingExperiments. With the subject being a large people-search company catering to customers searching for military personnel, the test’s goal was to significantly increase the total number of subscriptions.

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Three Questions to Align Your Strategy, Marketing and Sales

June 28th, 2016
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When the business strategy isn’t linked with sales and marketing, the result is that marketers and sellers end up working harder, not smarter. This has a multi-billion dollar impact. Most companies struggle with this according to the Frank Cespedes, author, and Senior Lecturer at Harvard Business School: “Selling [or marketing,] no matter how clever and creative, can’t generate good financial returns unless it’s connected to strategy.”

I met Frank while we both spoke at an event in Santiago, Chile. We had a memorable time sharing ideas and research. I thought Frank had a practical approach to aligning sales and marketing. So, I reached out to him and interviewed him about what he’s learned through his research for his most recent book Aligning Strategy and Sales.

[Editor’s Note: This interview was edited for length and grammar only.]

 

Brian Carroll: What inspired you to write about Aligning Strategy and Sales, which is the title of your new book?

Frank Cespedes: Despite decades of attention to so-called strategic planning, there is remarkably little research about how to link strategy with the nitty gritty of field execution, especially sales efforts [and marketing]. American companies annually spend about $900 billion every year on sales efforts. That’s not marketing, that’s sales, that’s compensation, the travel, incentives, the infrastructure, etc. and to put that in perspective, Brian, that figure is more than three times what they spend on all media, Super Bowls, everything. It’s more than about 40 times what they spend on digital marketing, and it’s more than 50 times what they currently spend on social media. This is a big, big gap.

 

Can you tell us more about your background and where all of this came from?

I was an academic at Harvard Business School for about 11 years working my way up the hierarchy and always was doing research in sales-related areas. My research started with distribution channels, B2B distribution channels, morphed into sales. Then I ran a business for 12 years. And then I came back and said, “I’m teaching strategy. I know something about sales. Let me see what people have written about it.”

What I found was this gap, so I figured two things. One is I don’t think the world needs another book about strategy, and I don’t think, to be blunt, the world needs yet another selling methodology, but there just isn’t much if anything about linking the two and that was the gap that I set out to address.

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Marketing Basics: Don’t overlook these 5 digital marketing tenets

May 17th, 2016
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There are so many impressive things you can do with your website these days. Augmented realty. Rich animations. Micro-interactions. Interactive infographics.

But I like to think of it like this …

When the quarterback throws a 90-yard touchdown pass, the camera cuts to the wide receiver doing a celebratory dance, and then to the quarterback pumping his fist. What they’re not showing you is the right guard who picked up the blitz to allow the quarterback the time to heave up that bomb.

Your website, content, and digital marketing is often presented the same way. Advanced, flashy user interfaces are great. But looking in our own analytics, I was reminded there are probably a few unheralded, down-to-Earth, un-buzzworthy basics that should still power your online marketing.

 

Basic content

“Basic” has become slang for “limited,” “rudimentary” or any number of other negative connotations. To quote Kara Brown on Jezebel, “Being basic just means that you aren’t that dope.”

And you probably feel that way about the content on your site as well. You are steeped in the latest, most advanced things going on in your industry. You focus on the breaking news. You spend your waking hours thinking about the coolest features of your products, and most advanced capabilities of your services.

But is that what your customer is looking for?

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Content Strategy Versus Content Volume: How HR tech company, WorkCompass, wrote less content, but increased leads by 300%

January 29th, 2016
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Content marketing is a lot of work. Any company doing content marketing has to also run a media business on the side of their regular business.

But what if you could do less writing and still increase your leads by 300%?

That’s exactly what Alan O’Rourke did at HR performance management software company, WorkCompass, with a small marketing team.

According to his blog post on Audience Stack, O’Rourke was having trouble getting his content marketing efforts to pay off.

I tried it for a few months but found I was just sending more content to the same people. More was not better. It was just more. Using basic inbound marketing our audience and reach was not growing.

So what he did instead was create an inbound marketing strategy that focused 70% of his team’s effort on promoting his content, and 30% of his team’s effort in actually creating the content.

The results were fantastic. In fact lead capture (my primary measurement of success) jumped by over 300%!

Fortunately, he mapped out his entire strategy in a nice infographic. He calls it the One Month Micro B2B Marketing Plan — although I’m sure most savvy ecommerce marketers out there will be able to apply the same principles to their own content marketing strategies.

Micro B2B Marketing and Promotion Plan - Audiencestack.com
The Micro B2B Marketing and Promotion Plan from AudienceStack.com

 

So what does this mean for your team?

It means you can at least test slowing down your editorial calendar to produce higher quality long form content to promote over and over again.

P.S. I found O’Rourke’s blog post and infographic from a post on Reddit, where he had promoted it. Now I’m writing about it here, giving him links and hopefully sending a significant amount of traffic his way. So he’s doing something right.

 

You might also like

B2B Marketing: Content strategy results in 50% of qualified leads being inbound [From MarketingSherpa]

Content Marketing 101: Tips on content strategy

Content Marketing: How an energy data company’s content strategy increased leads by 733% [From MarketingSherpa]

Inbound Marketing: Beef jerky company develops content strategy around brand character to increase social media fans 2,113% [From MarketingSherpa]

Content Marketing: Measuring results, tracking ROI and generating leads

April 24th, 2015
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One of my recent MarketingSherpa Blog posts, “Content Marketing 101: Tips on content strategy” covered some basics of content marketing. For today’s post, I want to dig into the MarketingSherpa Newsletter archive to highlight what can be a challenging aspect of content marketing — quantifying and proving its worth.

The first article to highlight is a how-to, titled “Measuring Content Marketing: How to measure results, find gaps and grab opportunities,” that covers a range of tactics offered by Joe Pulizzi, Founder, Content Marketing Institute, and Michal Brenner, Senior Director, Global Integrated Marketing, SAP, on quantifying your content marketing efforts.

Joe says to set three categories of goals for content — driving sales, saving money and making customers happier.

To reach these goals, he suggested tracking those goals in three tiers:

 

Creator-level metrics

For a company blog, these KPIs include traffic metrics, such as page views and unique visitors; source metrics, such as inbound search results and referring sites; and sharing metrics, such as tweets.

 

Manager-level metrics

These KPIs include lead volume generated, lead quality, cost-per-lead and conversion rate.

 

Director-level metrics

At the highest level, content KPIs include revCreatienue, costs, ROI and customer lifetime value.

tiers of content marketing

 

Analytics also plays a role in content marketing.

Michael suggests that Google Analytics can be a content marketer’s best friend because the free tool allows tracking of the most downloaded, shared and viewed content on the website, sources of inbound traffic and organic search keywords used to reach your site.

Joe added, “We’re so infatuated with the creative that we don’t take two seconds to look at how this is making an impact on our customers. [Tracking software] is not glamorous. I can’t hold or touch or feel it, but you can take that feedback from the technology and then improve the content you have.”

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