Drive Revenue from Customer Events - B2B Marketing and Sales Tip #128
In a previous life when I was VP of Marketing at a high tech software company we had thousands of customers with huge upsell and cross selling opportunities. Since many of these customers were long time customers we decided a live event would not only give us the opportunity to update them on our additional products and services but would also allow us some face time for further relationship building. Our overall goal for the event was to drive more revenue from our current customer base. As we were brainstorming on the event details we wanted to be sure we had a 3-D view on everything we did. We wanted to be sure we were educating our customers, building customer loyalty and get a better understanding how we were going to continue to monetize these relationships. I’ve included a few tips below for each of these components.
Education –
- Make sure your agenda for the event is not biased towards your company and what your company has going on, but instead show interest to solving THEIR business problems and what really impacts them.
- Think about what you want them to take back from this event?
- Consider bringing in industry leaders or analysts to speak on their experiences in the marketplace
- give away an educational book or take home information they could share with others
- Add a panel of happy customers to discuss their experiences and results from working with you
Loyalty –
- Make each customer feel like they are your #1 customer
- Treat them to a nice venue, easy transportation and great food to start.
- Most importantly, make your customers feel they are part of the inner circle and by being at the event they are privy to information others aren’t. For example, show an exclusive demo of new or upcoming product releases.
Monetize –
- Hold your sales team responsible to have the right customers at the event. Ones who bring the most money, ones who have problems, ones that would benefit the most from being there.
- While at the event, set up customer face-to-face meetings with key executives. I had a spreadsheet with everyone I was meeting and knew their problems going into the conversation so I could bring the solutions. This was key.
Even though the event ended on a high note, we would have to wait another year for this type of customer interaction. Today, we wouldn’t have to wait another year to catch up with our customers. Companies like BD Metrics have already started to tackle this obstacle. BD Metrics’ You-Based™ personalization technology for leading tradeshows and associations to help make sure once people leave an event, all is not forgotten. I’m sure there are others out there also helping extend the momentum of live events. What have you seen or used? How are you staying in touch with your customers 365 days a year?
Here’s another continuing customer event idea for you to ponder… ideas
July 25th, 2008 | No Comments » |
Doing More with Less - B2B Marketing and Sales Tip #127
It only makes sense that if we are able to get the right message to the right buyers in the right kinds of companies we will increase Marketing ROI and accelerate Sales cycles. So why don’t we actually do just that?
By segmenting our leads database into smaller groups with similar characteristics, we are able to create very targeted programs that enable us to highlight exact pain points and specific solutions for those points. These more focused groups also enable us to very direct with our content and offers. We no longer have to generalize or discuss issues from 10,000 ft up.
Also, consider this – wouldn’t you consider a responder to a very direct message a more qualified lead than one that bites on a general offer? Also, wouldn’t your Sales team prefer fewer, more qualified leads to buckets of names of people who you don’t know what they do on a day to day basis?
Here are a couple of different ways I segment our leads for targeted programs here at ReachForce.
We slice leads by:
- Geography
- Industry
- Prospect title
- Prospect role (i.e. end user, decision maker, key influencer, etc.)
- Special interest group (i.e. event attendees, customers of salesforce.com, etc)
- Company size
- Company revenue
- Product line offerings
- Customers’ competitors
- People who acted on a specific call to action
- People who downloaded Product/Service Info.
- People who took a demo
- People in the sales pipeline that are stuck
Can you think of any more?
July 24th, 2008 | 1 Comment |
ROI Up Yours - Marketing WTF?
Would you be offended if you got an email with ROI - Up Yours as the subject line? Personally I think I’d giggle and check it out. If nothing else to see who is sticking their neck out there like this.
Well, we tried it here at ReachForce. The email content was all about Upping your ROI, so we were being relevant. We got mixed results on our risky move. We had about ½ dozen people email us to tell us we had offended them. Not many but it made us wonder how many more people we might have offended that just chose to delete the message instead of responding back.
On the flip side we had about dozen people reply back that they “loved” the subject line.
So where exactly is the line on going to far to get some attention?
For us, my Sales team asked for the subject line to be changed, so we did it but I must say that campaign doesn’t deliver near the results it used to…
July 23rd, 2008 | No Comments » |
Building and Measuring Lead Nurturing Programs - B2B Marketing and Sales Tip #126
As we acquire new leads and market to them we quickly see leads move into smaller, more segmented groups. Some take the hook you’ve put out there and ask for more, there’s some that act interested but don’t commit to anything, and there’s those that are radio silent and give you no indication of real life.
Each group now needs a different kind of follow up. The first group is ready for another targeted marketing program offering them another opportunity to engage. And those that didn’t respond might be ready for a slower moving nurture program. Maybe your message missed with these people, a nurture program is a good place to test messaging. Or maybe you are targeting the wrong person and they don’t care what you have to say or what we you are offering. (You’re wasting your time with these people but you don’t know it yet. )
Here are a few tips to building and measuring segmented lead nurturing programs.
(If you’re lost, don’t worry there’s marketing automation folks like Vtrenz, Eloqua, Marketo and Manticore that can help you automate the execution of all of these different programs.)
- Make sure Marketing and Sales have a clear understanding of what a lead is and what a sales-ready lead is. You have to start here. Marketing needs to know what they are looking for and Sales wants to know what they are getting.
- Divide your marketing database into 2 initial groups, active leads (people who have responded or engaged in the past) and inactive leads (people that have never responded to any outreach communication from your company). If you are an Eloqua customer, they have a report that will give you this information. Understand if there are any patterns among those that are active, if so, be sure to consider this when building out your nurture programs. Remember the goal of nurturing is to move currently active leads to the top of the sales funnel and move inactive leads to an active status.
- Measure and track movement in the nurturing cycles. As leads/prospects respond, use this data to determine next steps. You can confirm interest by reaching out to them again with a similar message and different offer or call to action. If they respond again, they might be ready for the next step in your nurturing cycle. If they don’t respond, continue to try different offers or messaging.
- Develop a scoring system that enables you to determine when leads are sales ready. Assign different values to each kind of touch. For example, a conversation had by telemarketing that better qualifies a lead might get a score of 10 while an opened email might get a 3. Once a lead reaches a score agreed upon by Sales, then the lead is ready to be passed on.
- Don’t forget about the ones that have moved on. Sometimes a prospect gives off all the right signals that they are ready to engage on a different level but once handed over to Sales they clam up. Make sure these people don’t get lost in the shuffle. It’s ok for a lead/prospect to move back and forth between Sales and Marketing.
- Determine when it’s time to throw in the towel. There are people in every marketing database that continue to hang around for no reason. What are we holding on to here? Before completely throwing these people out, try and determine why they aren’t responding to you.
- Are they the right buyer for your product or service?
- How long ago was this lead created? Has the person possibly moved up or on?
- Are they not a good fit for your offering?
Remember - keeping your nurturing programs focused on the most suitable prospects will help to ensure the success of your program.
July 22nd, 2008 | 1 Comment |
Ten Tips for Using Webinars for Lead Generation - B2B Marketing and Sales Tip #125
Webinars have become increasingly popular in the last couple of years. Not sure if that’s because the cost to travel to live events has sky rocketed or if its because webinars can now be re-purposed into a variety of onDemand events that can have multiple uses and draws. The biggest challenge still exists though, regardless of the event being live or online - getting people to give up their time and actually show up.
At ReachForce we are gearing up for our own webinar series and have been doing a lot of research on best practices we want to be sure to implement. I’ve read a lot of great information so I thought I’d share what I’ve found and will be sure to implement…
Getting people “there” –
1. Get their attention from the beginning with an eye catching event title
It always amazes me how little time is spent on naming Webinars. The right Webinar title can immediately elevate your Webinar to a “must attend” event.
How do you decide on a Webinar title that stands out in the inbox?
Start with your Sales team/s. Find out what they are hearing out in the marketplace and ask them to help identify hot buttons you should consider for your title.
Other details - Be sure the Webinar titles run no longer than 30 characters, and consider using words like “Webcast” or “you’re invited”.
2. Format Invites for Maximum Engagement
People just don’t read anymore so you have to be sure to get to the point quickly. People seem to read the first sentence and then look for things like photos of your speaker/s, bullet points or other images included.
3. Make It Easy to Register
Seems like a given, right? We’ve all tried to sign up for Webinars that took us to multiple landing pages or asked us to fill out a form that was just too long and wanted too much information. Keep it simple and map out a plan to collect more information from registrants as you continue to follow up with event reminders.
4. Sell Your Event, Not your Products or Services
Remember to sell the benefits of your offering in the context of the event. Here’s an example – Instead of saying, “Our solutions accelerate sales cycles by 2X,” say, “Join us for a free webinar and learn how to accelerate your sales cycle by 2X”.
5. Call to Action: Front and center
Don’t wait until the end of your invite to ask people to register for your event. Remember lots of people scan/view emails in the preview pane. Include clickable links or buttons in the header or headline and in the body of the email at least twice. It may seem like overkill but your goal is to get them to register, don’t make them hunt for the right buttons to do so.
6. Remind them why they are there, on your landing page that is
Recent tests have shown tests that B2B prospects prefer more detailed information on Webinar landing pages. They want more information on what to expect from your webinar and what is going to be discussed before they commit. Don’t forget to include your speaker bios here too. People like to know more about who they are signing up to listen to.
7. Consider a personalized landing page (PURL) and pre-populated forms
In a recent test, more than 75% of Webinar registrations came from PURL recipients. People like the idea that the invite and information is being customized for them. Most marketing automation systems have this capability, be sure you’re using it.
8. Add links to additional information or content in your landing page
This specific webinar may not be of interest to your prospect but that doesn’t mean all of your offerings and/or content aren’t of interest to them. Offer additional information in different formats, maybe a previous webcast, a podcast, whitepapers or eBooks.
9. Offer an OnDemand Recording of the Presentation
Somewhere between 33% and 50% of the people who register for your Webinar will actually show up. So be sure to offer an onDemand recording of your event for those that can’t make it and remember to tell them it’s out there. This is a great excuse for follow up with those that didn’t attend and those that did. People that did attend may want to forward the onDemand version on to others in the decision making unit. That way, people can view your content at a time that works best for them.
10. Say Thank You
Don’t forget your common courtesy. Remember people took time out of their busy schedule to hear what you had to say. Follow up with a thank you and be sure to include links to more applicable information. Follow those click-throughs for laser targeting your next message.
Have we missed anything here? What has helped you drive more leads out of your webinars?
July 21st, 2008 | No Comments » |
How to Get 3,190 People to Watch a Demo at a Tradeshow - B2B Marketing and Sales Tip #124
Written by Andrea Stout, ReachForce Customer and Event Marketer at NetQoS
After my last guest post on Getting More Traffic to your Trade Show Booth I thought I would share an inside look at the success behind NetQoS’s trade show marketing. I turned up the heat on Cisco Networkers this year with a party at the Hard Rock Hotel.
Every year, companies spend millions of dollars on tradeshows worldwide. At NetQoS, there is one show each year that produces the best leads. Cisco Networkers Live is an event that brings together thousands of networking professionals for four days of training.
As with any exhibition, the key to success is knowing your audience. With many booths to choose from, it’s hard to get prospects interested in visiting you. In January, the NetQoS marketing communications team met to discuss the overall strategy for the June Cisco show. Knowing that we had to choose a theme, we identified the most important characteristics of our target market. They are as follows:
- Male
- Aged 25-45
- Works in the IT field – most are responsible for the performance of their organizations network
- Unlikely to be elected “Prom King” in high school
With songs like “Party Like A Rockstar” by Shop Boyz and “I Want to be a Rockstar” by Nickelback ruling the radio, we decided that we should treat our prospects and customers like they are rockstars – network rockstars. With this theme, we were able to select promotions for the booth and plan a large customer party.
Each year, we hand out t-shirts in our booth. We decided to design a shirt that fits in with the vintage shirts that are popular today. In addition, we purchased blinking guitar pins that contain our corporate logo. We have found that anything that with a flashing LED light attached to it is a huge item at tradeshows. As a general rule of thumb, if it can’t be stored on a desk or given to a child, it’s trash.
For our party, we designed a landing page where customers and prospects could register online. We asked them to print off their confirmation and stop by our booth during the show to pick up their VIP backstage pass. This awarded us a lot of attention as other tradeshow attendees noticed the exclusive passes being worn around the show by our customers.
Fitting with our theme, we booked the Hard Rock Hotel as our party venue. We passed out Elvis glasses as attendees walked down the red carpet. We set up Guitar Hero and Rock Band in the corner of the room which was a huge hit. In the past we learned that our guests don’t like loud music so we nixed the band this year and opted for a DJ. Also, never skimp on food. If your audience is mostly male, feed them well. We hired a photographer from Event Mall to take pictures of our guests and print copies on site. In addition, we hired two celebrity impersonators to entertain the crowd – Gene Simmons and Ozzy Osborne.
The Results:
For the first time, we ran out of all 3,500 t-shirts we had printed before the show was over. On the first night alone, we scanned 931 badges in two hours. We had 3,190 people sit through product demonstrations in our booth during the show. We handed out 3,000 blinking guitar pins in two days. At the party, we had 400 guests who have given us nothing but positive feedback.
Check out examples of everything below:
Hard Rock Party Landing Page: http://www.netqos.com/seo_promo/hardrock/
Flickr Photos Page: http://www.flickr.com/photos/netqos/
T-shirts:
Front:
Back:
Guitar Pins:
Backstage Passes:
July 18th, 2008 | No Comments » |
Re-think Blog ROI - B2B Marketing and Sales Tip #123
Yes, you read that right, I did actually use the words “Blog” and “ROI” in the same headline. But this isn’t a post about how to calculate the ROI of your blog. If that’s what you are looking for, reading further will be a frustrating exercise.
Whenever I speak about social media and blogging, the questions always follow the same path from cynical challenges to reluctant how-to questions. Sort of like the 5 stages of grief (disclaimer: I am not a clinical psychologist and really have no idea if these stages are even accurate):
Shock - “Is a blog right for my audience?”
Denial - “How can I justify the value of a blog, I can’t measure the ROI, can I?
Bargaining - “How can I justify investing in such a time-consuming exercise? Isn’t my time better spent elsewhere?”
Anger - “Where do I even start? Social media is out of control.”
Acceptance - “How often do I have to post?”
Just like death and taxes, blogging is inevitable. It helps you establish a closer relationship with your customers. It gives your company a face and a personality letting you share your evolving philosophies and lessons learned with your readership. And, it helps with search engine optimization so that buyers can find you. For all of these reasons and so many more, you will eventually be forced into embracing blogging. I mean, when was the last time a journalist or blogger wrote a wildly exciting post linking to your web page? Not happening? You’re not alone. People don’t get excited by web copy. But they do get inspired and passionate about blog posts—if they deliver value.
I recently read an extremely interesting post by Phil Baumann’s entitled Blog ROI: It’s About Value, Stupid!, in which Phil makes an excellent case for why hospitals should have a blog. His reason: “value.” According to Phil:
“Until someone establishes a standard measure of Blog ROI, I think it’s helpful to focus our lens on a fundamental question: What information is needed to decide whether a blog is worth its cost. There’s probably a complicated answer to that question, one which depends on the economics of your particular organization. In its place, I’d like to offer up three simple intuition pumps:
- Value drives ROI
- Price is a function of Value
- Value-Multiplied is replacing Value-Added”
Now, here’s the real genius behind Phil’s post. He claims that: “Value-Multiplied is Replacing Value-Added” - And that’s where intelligent applications of social media come into play. Can you think of a better way to multiply the shared values of your going concern? Word-of-Mouth (WOM) was always king. But know the kingdom of WOM has come. Know thy king. He’s a little different this time around. He’s wearing new clothing: a crown of truth, a cape of respect and a staff of democracy. In fact: he’s you! If you lay down the tracks for your customers’ value-train then ROI will come chugging along.
Ready to get started delivering value? Check out Guy Kawasaki’s Alltop Blogging for tips and resources.
July 17th, 2008 | No Comments » |
Leveraging Current Customers at a Tradeshow - B2B Marketing and Sales Tip #122
Guest blogger, Andrea Stout shared some great ideas Monday on Getting More Traffic to your Trade Show Booth. I want to add one more - leverage your current customers. Generally your current customers will be attending the same events as your prospects. If you can convince a few to be evangelists for you, they will be more impactful than your best sales reps.
A colleague of mine had great success at a tradeshow last year. The messaging at the booth was all about being power driven which is also their company tagline. Each one of her customer evangelists wore a button that said “I am Power-Driven” while all employees wore “Ask Me How You Can Be Power-Driven.” They tripled the amount of booth traffic from the year before.
Here are a few things you might want to keep in mind when planning to use current customers at a tradeshow:
- Plan ahead - Ask your sales reps and account mangers to find out if any of your best customers will be at the show. Consider inviting a few to be your guest. A customer advisory board is a great resource, if you have one.
- Ask in advance - Most people will be flattered that you asked. Do not wait til you see them on the show floor to ask.
- Set expectations - Make sure that your customers know exactly what will be expected of them. Do you just want them to just sing your praises or will they need to be able to answer questions from prospects.
- Integrate with your overall theme - If you have a theme or specific message for your booth be sure the customers enhance and add to your overall objectives.
- Give them something to wear - Ask your customer to wear a button, hat or shirt so that attendees can find them. Like in the example above, this does not have to be your logo - being different is a conversation starter.
- Thank your customers - Cocktail parties, dinner or a gift at the show are a few ideas. When you ask them to be an evangelist, let them know how they will be thanked
Another idea is to include your current customers at any parties you might be throwing during the show. This can be a more comfortable environment that on the show floor. We all have a few customers that just could never be satisfied. Check with Sales and Account Management to be sure that everyone you are inviting is a happy customer.
July 16th, 2008 | No Comments » |
Your Guide to The Top Blogs - Marketing WTF?
Experiencing new media fatigue? Lost in a sea of links on the Interweb? Unsure of which blog name to drop during your next conversation? Here’s all you really need to know about what’s what in the blogosphere. Vanity Fair has gone and published this nifty Gartner-esque quadrant view of the top blogs today. http://gawker.com/tag/blogs/?i=5015947&t=the-blog-matrix.
Sadly, my interests seem to fall closer to the Scurilous/Opinion corner.
July 15th, 2008 | No Comments » |
Top 10 Ways to Get Booth Traffic at a Tradeshow - B2B Marketing and Sales Tip #121
Written by Andrea Stout, ReachForce Customer and Event Marketer at NetQoS
Pam recently blogged about how to use after hours events to drive booth traffic and buzz at your trade shows. Today, I want to share my tricks for getting the most traffic to your booth.
- Know your audience - Study their likes and dislikes. This will help you select giveaways and presentation topics.
- Offer good content - Attendees love getting tips and best practices so focus on creating interesting and educational theater presentations.
- Market your presentations - Do you have a speaking slot at the show? Are you giving presentations in your booth? Design a business card that contains your presentation topic and timeslot and place it into the badge holder of the attendee you scan.
- Build brand awareness - Have your logo printed on stickers and place them on the badge of the attendee. Everyone will see it. I have also seen exhibitors place temporary tattoos on booth visitors.
- Don’t hand out junk - The best giveaways are those that can be kept on an office desk or given to children. Anything that has an LED light and flashes is popular right now.
- Show them the way - I’ve found that buying advertising space in conference guide rarely works. About 5% of our traffic is driven from bag inserts. Don’t waste your money – place good signage throughout your booth instead.
- Play music - Before you begin a theater presentation, play music. The sound will attract people from nearby booths.
- Shoot video - Take a Flip camera to your booth. Add the video you capture in your booth to YouTube – this will help you in search engine rankings.
- Location, Location, Location - Real estate is prime on the exhibit floor. Try to get a space close to the entrance as the attendees must walk by you to enter and exit the show floor. Stay away from your competitors and try to get a booth near your partners so you can get referrals. If you’re in a small 10×10 space, make sure to get a corner spot. Your booth will get lost if you are boxed in between other exhibitors.
- Feed them - It sounds so simple, but it works. Any time you can place a bowl of candy, a bucket of bottled water, or any other snacks in your booth – do it!
July 14th, 2008 | No Comments » |
