Best practices for lead generation, marketing automation and revenue generation topics.

Lead Liaison

How to Get More Sales

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Identifying how to get more sales is often a struggle for many companies. Whether you’re an early stage start-up trying to meet the pressing demands of your board and/or venture capitalists or a seasoned company stuck in a rut; every business could gain from more sales. Too many businesses put the cart in front of the horse. To get more sales, you’ve got to drive revenue by converting more leads. Our mission at Lead Liaison is to help your company focus on better lead conversion and get your business generating 4X more qualified leads. In the graphic below we highlight five main activities (vertical sections across the bottom row) that identify how to get more sales by nurturing leads, capturing more leads, having better lead follow up, personalizing communications and improving sales effectiveness. The horizontal sections layered on top of the main activities are supportive activities. How to Get More Sales Let’s dig deeper into the main activities. Here’s a short summary of how Lead Liaison’s Revenue Generation Software technology can help your business get more sales by focusing on five key areas: 5 Principles to Get More Sales

Nurture Leads

Nurture Leads to Get More Sales How many times has your sales staff disregarded a potential lead or an inbound inquiry? Go ahead, be honest. Experts estimate 70% to 80% of all inquiries are latent demand that will buy within a few years but are lost, ignored or discarded by sales. What’s worse is that 73% of all companies have no process for revisiting leads. That’s a lot of lost revenue and a goldmine of more sales for your business. By using smart technology to intelligently nurture leads via relevant, personalized communications businesses can keep prospects top of mind and accelerate time-to-revenue.  

Capture Leads

Capture More Leads to Get More SalesIt doesn’t take a wiz-kid to know that more leads results in more sales. Use several landing pages across your business and embed forms with a minimal (no more than four) amount of fields. Use progressive profiling technology to intelligently identify what information you’ve already collected from a prospect and either hide the field or replace it with a new field that will help your business build a richer prospect profile. Also, use pre-filled form data to keep your database clean. For example, have a “job role” field that only had C-level, VP-level, Director, Manager and Assistant/Coordinator as the choices. When you need to profile your database (how to do database profiling) you’ll be happy you pre-filled forms. Do the same with company names and locations. Lead Liaison can help with that.

Lead Follow Up

Better Lead Follow Up to Get More Sales It’s imperative companies quickly distribute leads and respond to leads within five minutes to increase lead conversion rates. Research shows that responding within the first five minutes greatly improves the chances of getting the sale. Use automated technology to send email responses from a lead owner. See our article on automatically distributing leads for more information.

Personalize Conversations

Personalize Communication to Get More Sales Use marketing automation technology to deliver marketing messages that match a prospect’s interests. Furthermore, make sure to create a marketing content map that maps marketing content to industries and buyer personas. Send them material they care about. Don’t generalize your audience. Read our article on email automation to learn more about personalizing communication. Make sure you also close the loop on your nurturing. Traditional email marketing systems do not have the ability to tie in past and future online body language with email activity. Tracking email opens are metrics of the past.

Sales Effectiveness

Improve Sales Effectiveness to Get More Sales Sales definitely wants to know how to get more sales. They can do it, they just need to be more effective. Traditionally, sales people would have to keep constant reminders or wade through prospect upon prospect in a flat database. Use lead scoring, lead activities and lead grading technology to help prioritize leads for sales. Build richer prospect profiles by collecting a prospect’s buying behavior (keywords searched, pages visited, multi-visits, etc.). Use alerts to signal your favorite leads or notify lead owners of key buying signals. Help sales do their job by adding technology that takes the guess work out of sales. If you are interested to learn how Lead Liaison can help your company get more sales using the aforementioned approaches and a host of other innovative technologies let us know. We’re happy to give you a demonstration of our Revenue Generation Software platform. To be alerted of future posts, please click on the RSS button.

Lead Liaison

12 Ways to Repurpose Content

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Repurpose ContentLooking for ways to repurpose content? Many companies struggle creating content. Marketing content is important, but pervasiveness of that content is even more important. Much like a spider casts a web far and wide; marketers must cast their content in a similar manner. However, instead of getting worn down trying to create new content for each marketing channel (LinkedIn, Facebook, blogs, etc.) repurpose content for each marketing channel.

To start improving inbound marketing create one piece of content. We recommend writing a blog article as your starting point. Keep blogs short and rich with insightful information. Think about who your audience is. Ask yourself, who will read this content and why would they read it? Once your blog article is created repurpose your content on the internet to allow potential buyers to easily find your company. We came across Brody Dorland’s post, A Lesson in Content Repurposing, Infographic Style. Brody provides a very useful infographic with some print instructions to hang the graphic in your office. The graphic outlines 12 things marketers can do to repurpose content and improve inbound marketing. We’ve also pinned it to the side of this post for your convenience. Click on the image to see a larger view.

Finally, close the loop and measure ROI of your content. We suggest using lead tracking technology such as ours to help you automatically scan inbound leads, qualify, distribute and nurture them. Follow these steps to repurpose content and measure content ROI. Your sales team will be chanting your name! Ping us using the short form on this page to learn more about how our technology can help you get the highest return on your content creation dollars.

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Lead Liaison

The Two Fundamentals of Strategic Marketing

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Fundamentals of Strategic MarketingWhat are the fundamentals of strategic marketing? Chocolate and milk, salt and pepper, popsicles and hot weather – it’s easy to find two items that complement each other. Strategic marketing requires two items that also go well together. In an era driven by the internet, marketing has become a different animal. Marketing is no longer about creating fancy, high-gloss fliers or spending thousands of dollars at the next tradeshow. It’s about the digital age and adapting to new buying behaviors shaped by the internet. The digital age has fostered the creation of two fundamental and complementary items that should be the core of every Strategic Marketer’s toolbox, a website and a database. As more and more applications leverage the internet as the backbone for communication companies have greater dependency on their website and database as their most valuable asset.

The first fundamental of strategic marketing is a company’s website. A company’s website should be easy to navigate and look professional; after all, prospects will judge a company based on the appearance of its website. Also, a website is the primary landing page for prospects. It’s critical that a company’s website be laced with targeted and brief (no more than four form fields) landing pages to convert unknown visitors into known leads. Finally, prospects may find your company on Facebook, LinkedIn, partner sites, press releases, blogs and more; however, they’ll eventually come to your company’s website in the final stop of their journey. It’s imperative strategic marketers use B2B visitor tracking technology and proper lead management automation to capture the 96% of all unknown website visitor traffic that goes undetected (never fills out a form). Make sure to capitalize on marketing expenditures by capturing, tracking and managing leads using technology from companies like Lead Liaison.

The second fundamental of strategic marketing is a company’s database. Much too often strategic marketers let a company’s database go “stale” – leads rot, become out of date, incomplete and untouched. In fact, 73% of all companies have no process for revisiting leads. Moreover, with only 3-5% of inbound leads being classified as “sales-ready”, most leads get touched initially then never again. Shockingly, 70-80% of the other inquiries (leads that are not “sales-ready”) are latent demand that will buy within two years, but are typically lost, ignored or discarded by companies.

Better lead management is a necessary fundamental of strategic marketing and starts by profiling a database (using lead scoring), segmenting a database and nurturing a database. Strategic marketers must make sure to think of their database as the most valuable resource the company has and think of their database as their baby. Keep it clean, bring it in for checkups and make sure to nurture it over time. Don’t ignore your baby! Take care of it, give it structure, don’t forget about it and it will continue to give back to you and your company.

To explore how your company can have better lead management please ping us and we’ll tell you how.

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Lead Liaison

Revenue Generation Software is Red Hot

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Revenue Generation Software is Red HotRevenue Generation Software may be the best thing you’ve never heard of. It’s a sales and marketing engine that’s loaded with fuel, ready for the ride of its life. Now is the right time and right environment for marketing technology to step up. In this article we cover why there’s a red hot market for marketing platforms like Lead Liaison’s and a huge opportunity for marketers to continue to reap rewards of these emerging solutions for years to come.

Three primary events are lighting fire to the space:

• Marketing budgets are on the rise
• The technology is extremely disruptive
• Data is finally easily accessible and abundant

Firstly, marketing budgets are on the rise. According to Gartner, In 2011 B2B marketing budgets as a percentage of revenue were three times higher than IT budgets. Gartner reported marketing budgets at 10 percent relative to IT budgets at 3.6 percent. In 2012 marketing budgets will grow faster than IT budgets according to Gartner. IT budgets will grow 4.7 percent, all marketing budgets are predicted to grow 9 percent and high tech marketing budgets are expected to increase 11 percent. Looking five years out:

By 2017, a CMO will spend more on IT than the CIO. – Laura McLellan, Gartner Group

Secondly, Revenue Generation Software is a disruptive technology. It forces companies to think about what matters most – revenue – and how they generate and measure performance around it. It gets companies to think about the transformation of a sales cycle into a revenue cycle. It brings sales, marketing and executive teams together to map out their processes for driving revenue. Marketing platforms that drive and measure revenue are here to stay.

Thirdly, marketing data is growing at a rapid pace. Compounded by changes in buying behavior – sales and marketing is forced to change the way they traditionally operated to better interact with data and prospects. As marketing databases grow there’s an opportunity for better transparency and usability of that data. CRMs make good use of data for sales people by acting as a system of record for the pipeline and the funnel; however, there is no equivalent for marketing. A layer of technology around marketing data helps to analyze data and create automated processes. With Revenue Generation Software businesses can finally leverage data for the benefit of driving marketing insights and measuring downstream prospect/client activities against their marketing spend.

Here’s a snippet from Ajay Agarwal, managing director at Bain Capital Ventures’, that highlights four primary causes of data growth. Ajay talks about how the web is a catalyst for the availability of data which fosters the perfect environment for marketers to leverage software as a service (SaaS) solutions like Lead Liaison.

Primary Causes of Marketing Data Growth – Ajay Agarwal

As more and more businesses across all sectors of the economy move to the web, this kind of data — and a massive amount of it — is finally available.

• A web business can mine thousands of signals from its prospects based on the hundreds of actions a consumer might make on a website (checking a price, looking at an image, reading a review, typing in a detailed search query, etc.).
• The holy grail of closed loop marketing is finally here. With sophisticated technology and analytics, marketers can link spending on customer acquisition directly to a set of downstream customer actions — whether those actions take place on the web, on a mobile device or in a physical location.
• Consumers with smartphones are conveying their intent while scanning QR codes, downloading mobile coupons or simply walking into a store with their location-aware device.
• Social networks are providing a new source of demographic data that, combined with Facebook’s Open Graph, offer marketers a new treasure trove of information.

Ajay further explains, “I am excited about this next wave in enterprise technology. Marketing will finally emerge from the backwater and will give rise to several multi-billion dollar companies.”

Want to learn more about this explosive marketing technology and why Revenue Generation Software is red hot? Please, let us tell you.

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Resources:
1) Five Years From Now, CMOs Will Spend More on IT Than CIOs Do
2) Marketing is the next big money sector in technology
3) Marketing Automation Getting VC Attention

Lead Liaison

A Simplified Perspective on How Marketing Automation Works

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How Marketing Automation Works - Simplified ViewMarketing automation is a simple concept if you’re in the industry or familiar with these types of solutions. But, what if you’ve never heard of marketing automation before? Take five minutes to read this simplified summary of how marketing automation works.

Eric Wittlake made some very important points about marketing automation. Let’s summarize what Eric says about the premise of marketing automation:

Marketing automation is built on the premise of delivering the right communication to the right person at the right time. When your competitor’s delivery of content is more timely than yours, you have been trumped. Even great content will not engage your audience if the need has already been met by someone else’s more timely delivery. – Eric Wittlake, Babcock & Jenkins

Eric also highlights what fuels the marketing automation engine,  successfully delivering the right content at the right time hinges on data. Data that is provided explicitly by prospects, and more importantly, data that is provided implicitly through their engagement with your communications and content.

Eric does a great job summarizing the marketing automation workflow. It’s important to note that marketing automation is only as strong as its weakest link. If any of the three links mentioned below break down then the marketing automation model loses strength. Eric discussed the drawbacks of removing a link in the workflow. We’ll invert Eric’s thinking to view the benefits of continuing the marketing automation cycle.

• Continued database profiling and lead qualification enables accurate follow up communication.
• With accurate follow up communication, prospects will engage.
• With engagement, lead profiles and lead scores are updated to deliver the right message at the right time.
• Rinse and repeat…

Check out our other articles to learn more about lead scoring and how to do database profiling.

Eric Wittlake (@wittlake) heads up the media practice at Babcock & Jenkins and is an active B2B and digital marketing blogger at B2B Digital Marketing.

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Lead Liaison

The Business Case for Revenue Generation Software

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Business Case for Revenue Generation SoftwareMaking a business case to your management team for Revenue Generation Software is not difficult to do as long as you’ve got the right information in hand. When presenting your business case we suggest sticking to the following outline:

1. Highlight Problem Areas
2. Show ROI
3. Advocate new marketing strategies

Keep your justification brief and be ready to drill down into specifics if asked. Let’s highlight some data points for each of the aforementioned areas to help you strengthen your business case for Revenue Generation Software:

Problem Areas

Many B2B marketing authorities have studied the lead management automation (LMA) and/or marketing automation industry. Here are some important facts that expose deficiencies in most B2B companies:

• Only 3-5% of new lead inquiries are “sales-ready”
• 70-80% of the other inquiries are latent demand that will buy within 2 years, but are typically lost, ignored or discarded by sales
• 73% of companies have no process for revisiting leads leaving databases to become “stale”
• 80% of marketers send unqualified leads on to sales
• 90% of marketing deliverables are not used by sales
• 90% of website visitors don’t identify themselves
• 87 out of 100 deals are left behind by sales
• It takes 7 to 9 proactive communications to gain a B2B decision-makers attention
• 30% of sales reps turnover each year, 7 months to ramp up

Consider the points above and assess whether or not your company faces these challenges.

Show ROI

Best-in-class sales and marketing teams generate 4x more closed deals than average teams using the same pool of leads. Closing 4X more deals will surely be an eye-opener for any manager or executive. In addition to a hard-ROI it’s important to highlight the soft-ROI. In other words, how else will revenue generation software positively influence your organization’s people, products and process?

ROI for Marketers

• Gigantic productivity boost for marketing. Marketers no longer have to run campaigns manually; they can automate them and schedule them in advance. Marketers can create more campaigns with fewer resources while delivering more, higher qualified leads to their sales team. Finally, marketing can respond more quickly and push out new campaigns at a rapid pace with drag/drop tools that simplify campaign creation without having to lean on IT for support.
• Marketers will keep their business one step ahead of their competition and claim the majority of a prospects mind-share using state-of-the-art technology that intelligently automates and improves processes. Leave no lead left behind and distance your company from its competitors.
• Marketers will get more out of their campaigns. Revenue Generation Software allows marketers to better track and measure metrics that help them tweak and tune performance of marketing campaigns. Campaign response rates usually double when Revenue Generation Software is used to drive campaigns.

Marketers aren’t the only people that directly benefit from using Revenue Generation Software. Sales people reap reward as well. Here are some highlights of how Revenue Generation Software will help your sales team:

ROI for Sales

• Sales people will get more information about their leads. Sales will better understand a prospect’s interest, past behaviors and overall interaction with your company.
• Sales will receive more qualified leads. Revenue Generation Software uses automated technology to qualify leads using company-specific criteria that’s unique to your business.
• Like marketing, sales will also see a gigantic productivity boost. Instead of getting a pile of business cards, an excel spreadsheet or CRM view of a bunch of “leads” from marketing (what sales people would call “contacts”), sales gets quick access to prioritized leads sorted by qualification criteria. Additionally, sales people get real-time alerts when their favorite lead or company visits your website.

Sales and marketing will benefit individually and especially as a whole. It’s not uncommon for sales and marketing teams to be disconnected and think independently. Unfortunately, prospects and customers suffer from disparate sales and marketing processes as communication breaks down. Through the implementation of Revenue Generation Software sales and marketers will naturally become more aligned. Your sales and marketing teams will experience:

ROI for Sales and Marketing Teams Together

• A common view of the company’s revenue cycle. A revenue cycle is a combination of a marketing funnel with the sales funnel. As B2B buyers change, marketing is able to make greater contributions to company revenue garnering closer alignment between organizations.
• Improved marketing and sales productivity along with stronger top line growth.
• A collective understanding of how to improve marketing campaigns, track leads, measure results, improve data quality and nurture leads through the funnel.

New Marketing Strategies

While making the business case for Revenue Generation Software it’s important to highlight how the software will help you hit your current goals give to you by your manager. It’s equally important to highlight what marketing automation will add to your marketing bag of tricks. Here are a few ideas to get you thinking:

• Lead nurturing which increases communication with contacts in your database by sending them timely and relevant information to build relationships and progress them through your funnel.
• Monitoring website behavior which keeps a digital trail of information as prospects fill out forms, visit web pages, use keywords to search for your business and make return visits.
• Lead qualification using lead scoring to assign numerical values to leads that meet your qualification criteria helping to prioritize who is hot and who is not.
• Improved content creation strategies with the use of WYSIWYG editors and templates to build marketing emails. Also, drag/drop tools to build web forms and landing pages. These marketing tools are easy to use and don’t require additional 3rd party resources or IT – which saves companies money.

Building a Hard ROI

The below information is helpful when building a “soft” ROI to support a “hard” ROI (financials). Want to go a step further and build a hard ROI demonstrating financial return? We’ve got lots of experience doing just that! Contact us if you’d like a copy of our model and formulas which will help you build your business case for revenue generation software.

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Lead Liaison

Simplify your Database for Sales

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Simplify your Database for SalesIn an article last week by Mark Wicka on the B2B Lead Blog he talks about the challenges of prioritizing a company’s database. Mark describes how his company used an “opportunity grade” to create a snapshot of a prospect and prioritize the lead for sales.

“When you have a database of thousands upon thousands of names, how do you help your team easily and effectively prioritize who to contact?” – Mark Wicka, B2B Lead Blog

The challenge Mark’s company faces is all too familiar for many businesses. It’s imperative to simplify your database for sales and marketing effectiveness. Fortunately, technology can help automate snapshots and create opportunity grades across your database. Lead scoring technology helps businesses grade their database based on various demographics, interests and behaviors. Lead scoring is included with most Lead Management Automation (LMA) software packages. When using lead scoring marketers can create lead scoring programs that grade their existing database as well as future leads added to the database. Lead scoring programs can be run in a one-time-only mode or setup to run continually based on the needs of the business.

Some lead scoring systems allow marketers to create multiple types of grades/scores; for example, a “Fit Score” or a “Behavioral Score”. A Fit Score grades a prospect based on how they match up against your ideal buyers profile wherein a Behavioral Score grades a prospect based on their online behaviors or overall activity (whitepapers downloaded, forms submitted, pages viewed, etc.). Additionally, select vendors provide a snapshot view of leads with the highest grade directly from within a CRM system such as Salesforce.com. Having a consolidated view helps sales and marketers know where they need to spend their time and how to manage their day.

For a glimpse into Lead Liaison’s LMA software and an overview of how we help companies automatically grade their database and simplify their database for sales effectiveness ping us!

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Lead Liaison

Strategic Marketing Tools

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Strategic Marketing Tools

Millions of marketing teams struggle finding the right strategy to market their solutions. Marketing tools help marketers do their job more effectively and efficiently; however, finding the right set of strategic marketing tools can be a bear. Fortunately, we’ve compiled a list of strategic marketing tools for you and encourage you to help us build upon this list. We categorized each tool into its respective marketing bucket. If your marketing team doesn’t have these tools to support their campaign, go get them! Note, we’ll keep this list dynamic and continue adding tools to it over time. What are your favorite strategic marketing tools?

Finding Professional Business Contacts

• Data.com
• Hoovers (primarily executives)
• LinkedIn
• Lead Liaison
• ZoomInfo
• NetProspex

Finding Companies

• Hoovers
• Lead Liaison
• Data.com (limited company search)

Social Media

• TweetDeck
• AddThis
• Facebook
• LinkedIn
• Twitter
• Radian6 (owned by Salesforce.com)

Search Engine Optimization (SEO)

• SEOMoz
• SeoQuake (+ plugins for Firefox)

Analytics

• Google Analytics
• Adobe Online Marketing Suite (Omniture)

Revenue Generation Software

• Lead Liaison
• All the other wanna-bes

Email Marketing

• iContact
• Constant Contact
• Vertical Response
• Lead Liaison (closed loop)
• ExactTarget

Customer Relationship Management (CRM)

• Salesforce.com
• SugarCRM
• Microsoft Dynamics
• NetSuite
• Maximizer

Press Releases

• PRWeb
• PR Newswire

Disclaimer: Lead Liaison has no affiliation with any of these tools, except our own ;-)

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Lead Liaison

Automating Business – The Buick Way

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Automating BusinessOne of our founders recently bought a Buick Enclave. Most of the folks on our team are not car experts. Needless to say, we knew little about Buick Enclaves. When we heard she bought a Buick, we thought – “that’s an old man’s car”. Buick Regal, Roadmaster, Park Avenue, LeSabre – the list of old school Buick’s goes on. Why wouldn’t we formulate that opinion? Several of us got to take a spin in her new Enclave. Let’s just say this; it was a real eye opener. It reminds me how one can be so ignorant about new things. After all, you only know what you know. It got us thinking, if Buicks have evolved like this how has business evolved?

Business, in particular sales and marketing, has evolved considerably. Similar to what technology has done for Buicks, technology has given business a boost. For example, consider our founders Buick Enclave. The vehicle is OnStar equipped. Our co-founder showed us the OnStar iPhone app. We were amazed she could remotely unlock, lock and start her vehicle with the press of a button. And check this out – she remotely started the vehicle and it adjusted the climate control inside the vehicle based on the temperature outside. Wouldn’t it be nice if one could automate business with the press of a button?

Guess what, we can! Sales and marketing is no longer the old school Buick. Marketers have an opportunity to “OnStar-their-business”. Businesses can take advantage of software that automates common marketing processes. For example, with a few button clicks marketers can automate lead nurturing, or drip campaigns, lead qualification, lead distribution and alerts that highly benefit sales. Let’s draw from another analogy in the spirit of Buick/OnStar. While having the iPhone OnStar app up, our co-founder showed us how to find a place using Bing, say the closest Indian restaurant, and push that destination to the in-car navigation or turn-by-turn system. When she jumped in the vehicle her Buick asked her if she wants to go to the Indian restaurant.

That’s similar to configuring an automated marketing campaign and pushing it out to your business. With marketing automation software marketers can configure their prospects route, navigating them through your business and driving them forward along the revenue cycle. Marketer can send automated emails and other actions as part of an automated program and either run/activate the program or schedule it to start at any time in the future.

It’s time to harness technology and start automating business.

For a demo of OnStar and Lead Liaison ping us!

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Lead Liaison

Do Not Complicate Marketing, Simplify It

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Don't Complicate Marketing - Simplify ItScott Brinker, a marketing technologist and author of the chiefmartec.com blog, recently posted an article on Why marketers should learn how to program. We couldn’t disagree more with several of Scott’s thought-provoking concepts. Do not complicate marketing – simplify it.

Technology changes marketing – without question. Social media, blogs, online surveys, email marketing, YouTube are all examples of technology that inspires marketers to think differently about marketing strategies and campaigns. Learning to program doesn’t help a marketer harness marketing technology. Computer programming is not for everyone. Some marketers are technical and some are not. For the ones that aren’t technical or analytically-minded, don’t try telling them to program as the solution. You’ll have better luck asking an English teacher to become a microbiologist. There are many types of programming (C/C++, Java, PHP, ASP…the list goes on), all programming is different (web based, machine languages) and learning is not an overnight endeavor. You’ll just confuse the marketer. Make their life simpler, not harder. The answer to how to embrace new and innovative marketing technology is…hold your breath, new and innovative marketing technology.

Technology can improve processes and also simplify them at the same time. Scott is correct; there are a growing number of choices for marketing software. However, marketers must choose wisely. They must be careful to not adopt software platforms designed by engineers – which virtually requires a programmer to configure. Adopting marketing software designed by sales and marketers, instead of engineers, is vital. These packages were built to offer simplicity and ease of use that marketers expect. Case in point, Scott showed a screen shot (snippet below) of a complicated flow chart depicting a marketing campaign. If you want marketers to run then show them a flow chart like this.

Marketing Campaign Flow Chart

Scott also discusses a few other points. He suggests the cast of players around a marketer is growing and learning programming will help you speak their ‘native tongue’. Why not learn from the players themselves? Surely the players don’t understand some of your marketing terms. They might be interested in a quick lesson. Collaborating with your colleagues will only foster intra-company relations and build moral. Maybe you could send them to Douglass Karr’s The Marketing Technology Blog to read about these marketing terms.

Whether it’s marketing terms or marketing software, let’s not complicate marketing, let’s simplify it.

For a simplistic, yet amazingly powerful, software package that increases effectiveness of your sales and marketing team check out Lead Liaison’s Revenue Generation Software.

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