Entries Tagged as 'B2B marketing'

When it comes to B2B marketing, think things through carefully before you act.

I recommend that B2B marketers pay special attention to what I call the Domino Effect, where one thing leads to another.

For example, if you make an offer on your website, do you have the requested information or materials ready to go? Or, if you invite someone to a webinar, what will your follow up activities be? (All the brand marketing in the world doesn’t matter if the experience the prospect has with your company is disappointing.)

 

Keep B-to-B marketing strategies and tactics tightly focused on driving leads

In my view, the primary objective of B-to-B marketing is to drive leads and sales.

In other words, branding is a secondary objective. Especially for marketers with limited budgets (and today that’s just about everybody).

Recommendation: Let your brand come along for the ride while you focus your marketing on convincing potential buyers to raise their hands and express interest in your products or services.

 

 

Effective ways to prove B2B marketing is paying off

Do you start to sweat when your boss wants to see proof that the amount your company invested in marketing is really paying off at the bottom line?

Take it easy. It is surprisingly simple to prove that B2B marketing is contributing to your company’s results. Here’s how.

Show the relationship between your marketing and revenue

Start by looking for sales and revenue that can be linked to marketing activities. Compare new customer lists or invoices to companies or people in your marketing database and look for matches. You don’t have to find every sale that resulted from your marketing activities; sometimes all it takes is one big sale to justify a campaign.

If sales haven’t closed yet, count the number of qualified leads and use estimated conversion rates and average sales sizes to quickly determine the sales potential of those leads. Or look at the forecasted sales in the company’s CRM system and compare them to the database of prospects, inquiries or qualified leads.

Show how much you saved the company

You’ll probably come up with a list of things you’ve done to save money or time if you give it a little thought. Did you cut marketing activities that weren’t panning out? Did you automate online processes such as collecting and routing prospect inquiries? If you took print documents to electronic distribution, there’s savings on printing, postage, and handling.

List all the marketing projects your team completed

Unfortunately, people quickly forget what happened last month or last quarter. Maybe they don’t have the knowledge of the effort it takes to create an effective mailing or to redesign a website. Showing works better than telling, so put a package together that illustrates what got done with the money the company invested in marketing.

Consider this example…

After reviewing the previous year, a marketer I know was able to report to her management:

  • awareness of their company and products among target prospects more than doubled,
  • the cost per qualified lead delivered to sales by marketing dropped by nearly 40 percent,
  • 58 percent of the opportunities in the sales pipeline were found first by marketing,
  • 48 percent of these sales closed, and
  • 62 percent of the revenue during the past 12 months came from marketing-generated leads.

What senior manager wouldn’t love a response like that? Now, your situation may be different, but senior management increased her budget, gave her a bonus, and they no longer doubt marketing’s contribution to the company’s success.

 

When it comes to using B2B marketing to generate leads, Nike’s right.

A B2B lead generation campaign that’s sitting on the drawing board has zero ROI.

I have to admit that I’m a bit of a perfectionist. I could easily find myself fiddling with my marketing communications plans, campaigns or materials for months. Instead, I’ve had to teach myself, and my clients, to aim for the best results possible by a predetermined deadline… and launch.

I’ve learned that you can continue to tweak things, often without gaining any real improvement as a result.

In my Marketing for Leads and Sales™ seminars and workshops, I like to quote Nike’s slogan: “Just do it”. In other words, stop thinking about it. Get it done and get it on its way to prospects.

How about you? Do you think I’m right in recommending that you “Just do it”? I’m interested to hear your opinions… for or against.

 
Need help with B2B lead generation, marketing and sales?
For more information, please call Mac McIntosh at +1-401-294-7730, send him email at or visit www.sales-lead-experts.com