Posts tagged: B2B Direct Marketing

Why B2B marketers must read this book on lead generation.

The title of David Scott’s new book “The New Rules of Lead Generation: Proven Strategies to Maximize Marketing ROI” is a bit misleading. It doesn’t just cover the new rules of lead generation marketing that involve LinkedIn, Twitter and Facebook. It covers all the channels and all the practices necessary to achieve successful B2B marketing lead generation.

As the CEO and founder of Marketfish, David Scott knows his stuff. When he tookScott Book marketing courses at the Wharton School, all he learned about was brand marketing. Thrown into a B2B marketing position when the CMO left the $3.5 billion publicly traded software company where he worked, he had to learn fast. Over the years he has discovered the value of data, testing and measurement for all channels. He now shares his knowledge and experience in this comprehensive lead generation marketing handbook.

B2B marketers must read and share this book if they:

  • Have been so focused on entering social media — or any other single media or tactic — that other necessary lead generation channels have been neglected.
  • Want a comprehensive refresher course on B2B marketing best practices to ensure that nothing valuable has been missed.
  • Have beginners on their team who need to learn what effective lead generation is all about.
  • Need to better understand the importance of data, brand, B2B marketing math and all the other elements that turn million-dollar companies into multi-billion-dollar companies.
  • Are worried that they’re missing one of the seven most successful lead-generation approaches that companies are using today.
  • Have budget limitations and want to focus lead gen dollars on tactics that can maximize the return.
  • Want a handy list of how-tos on any aspect of lead generation marketing.

Highly readable and very informative, this book doesn’t miss a beat. I recommend it for every member of every B2B marketing team — beginner or expert — wanting to maximize the success and the ROI of their company’s lead generation.

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When and why B2B marketing fails.

The team at Savvy B2B Marketing has a great blog with consistently valuable information and insight. Recently they printed a wrap-up of their “10 Most Popular Posts from 2012.” One of them is a post by Chris Fell, Managing Director and owner of G2M Solutions in Australia on “The Top 5 Reasons Your Great Content Fails.

The point that struck me most from this post is that great content fails because it’s not marketed properly. He’s right. A company may have the greatest content, the greatest product or the greatest service – but, if it is not marketed properly, it can be a failure.

B2B marketing can fail, too. When prospects call me and I ask about their past marketing, I often hear stories of programs that produced zero response. This got me thinking about what causes B2B marketing failures and what I know about how to help prevent those failures.

In the late 1990s, I was fortunate enough to be able to take a sabbatical living and traveling on a sailboat in Mexico’s Gulf of California — or, as it is called by the locals, the Sea of Cortez. In preparation for this extended life at sea, my honey and I spent several years reading every sailing and cruising magazine available. Every time we read about a death or disaster at sea, we talked about it to understand the cause and try to make sure it never happened to us. Our conclusion was that, with rare exception, every time there was a disaster, it related to lack of proper planning, preparation or a bad decision on the part of the people involved.

B2B marketing failures are no different. Most every time a B2B marketing program fails, it’s because of a lack of proper planning, preparation or a bad decision.

B2B marketers can read blogs like mine and white papers all day long about dozens of best practices you can follow to make B2B marketing perform better. B2B marketers spend lots of time and energy on copy and design because, frankly, that’s the fun part of marketing.

But the fact is, there are only three things that can ensure 100% failure — that is, zero response to a marketing program — and none of them have to do with copy or design. They are:

  1. Marketing is targeted at the wrong industry or titles or both.
  2. There is no content or other offer being made to incentivize a response and no clear call to action — or the offer is bad.
  3. The marketing is directed at too small a number of potential responders.

Most B2B marketing teams spend 80% of their time on copy and design and 20% on market research, targeting and offer selection. The irony is that it should be just the opposite.

Perfect copy and design and a great content offer to the wrong market will fail. Mediocre copy, design and content offered to the right market will still generate some leads, even if the program does not maximize potential response.

So the best insurance against experiencing a complete failure in B2B marketing is spending more time on the big picture and less time on the details.

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Use December to assess B2B marketing practices for 2013.

December is traditionally a slow month in which to conduct B2B marketing, with the possible exception of outbound calling. When B2B buyers are in the holiday spirit they are typically more likely to take calls. But since December isn’t great for marketing, it’s the perfect month to assess B2B marketing plans and practices for 2013.

For 2013, MarketingProfs is predicting the continued rise of content marketing. Another Marketing is predicting a greater return to offline channels and the increased value of mobile. In fact, all of the predictions for 2013 support the continued importance of integrated marketing. That is, being everywhere a B2B prospect or customer might be and not putting all of one’s B2B marketing eggs in one basket.

So now is the time for B2B marketers to assess how well they are following best practices — then to update their marketing plans for 2013. Here are three areas that might be worth assessing:

  1. Analyze if the targeting being used is missing any huge potential for growth and sales in 2013. Here are a few tips on how to do this: “Is your B2B marketing barking up all the right trees?
  2. Evaluate how well the Website supports the online brand and generates involvement on the part of the visitor by reviewing “Is anything missing from your online B2B brand?
  3. Evaluate overall B2B marketing messaging to make sure it’s consistent from channel to channel. Then check it for best practices in “B2B marketing’s 10 most common copy mistakes.”

B2B marketing is a process of reaching the right people with the right messaging and using the tools and tactics that have been proven to generate leads and convert them into a qualified pipeline. B2B marketers can use December to make sure 2013 doesn’t miss one opportunity to generate leads, support growth and make a big impact on the bottom line.

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Single B2B marketing effort delivers $30MM in new business.

B2B marketing — that is, B2B direct mail marketing — is a classic example of the old adage “You have to spend money to make money.” That’s because the entire practice of direct marketing is judged on a cost-per-lead and cost-per-sale basis.

So it was no surprise to me when I read in Deliver Magazine that Netezza, a company acquired by IBM in 2010, had spent $200,000 on a direct mail marketing campaign that generated a 35% response rate, made approximately $30 million in new sales, and achieved a 150-to-1 ROI.

The article in Deliver’s August 2012 issue “Disguise the Prize” by Bruce Britt tells how Netezza sales wanted meetings with C-level executives to present their sophisticated data warehouse appliance and business analytics. The first concern of the B2B marketing staff at Netezza was getting past the gatekeepers to the CEOs, CIOs and CMOs that are common in the larger organizations they were trying to reach.

Here’s the story that Britt tells of what Will Pringle, a marketing demand generation vice president at Netezza, did:

“Pringle and his team came up with the idea of shipping MP3 devices that featured apps designed to create a sales meeting experience. Pringle tingled at the possibilities. ‘I thought it would be the ultimate direct mail piece if we could immediately catch the attention of C-level executives,’ he says. ‘What if the recipient powered the MP3 player up and the first thing they experienced was a customized video that addressed them by name? The more I thought and penciled everything out, the more excited I became.”

The package consisted of a cylinder that carried no indication of what was inside. This helped the package get past the gatekeeper. Or if the gatekeeper opened the package first, that person would immediately see the value of the enclosed gift and pass it along to the executive. Inside was a personal letter, business card, and the player.

“A few days after the initial packages were shipped, Pringle’s team started putting in calls to his target C-level executives.’Within the next two to three weeks, we secured seven meetings out of 15 — an almost 50-percent success rate,’ Pringle says.’In many cases, we had attempted to meet with these companies for years, and this was the piece that opened the door.”

The success of this campaign was not only based on creative thinking on the part of Pringle and his marketing team, but on the mathematics, i.e. B2B marketers should calculate what a new sale is worth and then how much they are willing to invest in making each sale.

In this case and in many others, the investment is worth every penny.

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B2B marketing: How B2B marketers can maximize open rates.

My colleague, James Pennington of Anderson Direct Marketing, a full-service direct marketing agency, was recently helping a B2B marketing client build their marketing strategy for a new product. In the process, he related this story, which some readers may not find amusing. Yet it’s true.

“I was attending a social media presentation in which the speaker spent time bashing traditional direct mail marketing by stating the fact that 44% of direct mail was not opened and got tossed directly into the trash. After hearing this statement, I raised my hand and asked, ‘Does that mean that 56% of it does get opened? That seems pretty terrific to me. What’s the open rate on email?’ The presenter answered 10% and there was some serious buzz kill in the room.”

In the B2B marketing world, direct mail marketing is still the most effective channel for generating leads and it is still cost-effective for companies selling higher priced products with long buy cycles.

Although it has a valuable place in integrated marketing, email marketing typically cannot produce the lead generation, open rates and response rates of direct mail.

Here are a few of those stats:

  • Prospecting emails to fresh lists typically get open rates of 9%-15% and click-through rates (CTRs) of 2.8%-3.2%. Marketo views open rates of 16%-20% as top performers. The average CTR per Marketo is 2.1%-5% with 5.1%-10% viewed as top performers.
  • A newsletter to a B2B house list is getting open rates of 18%-22% and CTRs of 3%-11%. This is consistent with MarketingSherpa‘s 2010 Email Marketing Benchmark Report in which 1,500 survey respondents reported an average open rate of 23% for B2B newsletters and an 11% CTR.
  • Follow-up emails to webinar or event attendees get an open rate of 31% and CTR of 55%.

B2B marketers looking to maximize open rates and fill their pipeline with qualified leads might want to include the still very powerful and productive direct mail marketing channel.

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Three dumb — and costly — B2B marketing mistakes.

A few days ago in the mail, I received a white padded envelope addressed to my business. It contained a single-page B2B marketing 8 1/2″ x 11″ letter and an 8GB jump drive.

It’s a great B2B direct mail package. Using a padded envelope makes it a “dimensional” or “lumpy” mailing package, which pretty much guarantees it will get opened. It also contains a something-for-nothing gift, which everyone loves.

On the label of the mailing package is my company name and address, and under that it reads “Attn: Susan Fantle.” Definitely personalized, with my name, which is also a best practice. Plus, it wasn’t cheap to send. The first class postage came in at $1.10. That doesn’t include the cost of the envelope, the production or the jump drive.

The B2B company sending the package kept their name subtle and understated by having a small line at the top of the label that read: Symantec, and their address.

The package uses best practices all around, so I was impressed. The B2B marketing letter inside the envelope, which was not personalized, opened with:

“Congratulations! I’m delighted to let you know that you are one of the first respondents to our recent offer. That means you are the lucky winner of the enclosed free gift!”

My response to the opening line was “Yikes!” I have no clue what offer I had responded to that made me a winner. Then the letter goes on to say:

“Symantec Website Security Solutions is the choice for leaders in online security.”

That’s very nice of them to say, but I’m not a leader in online security and never have been. I’m a B2B marketer. I do subscribe to a few online technology publications to try to keep up with the industry a bit. But, in order to subscribe, those publications make me fill out an extensive form that would reveal instantly I am not a technology buyer. Anyone renting those lists could easily have selected IT titles only and not wasted $1.10 in postage and more sending me the package and the free drive.

But that’s not the only thing that made me say “yikes.” The enclosed jump drive was BLANK! The B2B marketer behind this effort missed a huge opportunity to include a video, a brochure, a case study or any number of strong communications that would have expanded the sales message. Most marketing specialty firms that provide branded jump drives will record messages on them for their buyers. So that would have been pretty easy to do.

Symantec is a respected company, with fine products. But whoever managed this B2B direct mail missed three basic best practices: properly target, remind people of what they did online to gain the marketer’s interest, and make full use of the power of the free gift.

It’s possible that this campaign may get into the hands of enough qualified prospects to generate enough business to pay for the cost of the campaign. But I believe that every marketing effort should attempt to maximize that response. That means doing everything right.

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Great B2B marketing ideas you may have missed.

The rising number of visitors to this blog is not only good for my ego, but also indicates that more and more B2B marketers out there are interested in knowing about and following B2B marketing best practices.

It occurred to me, that with many readers taking the day off to celebrate the great day of our nation’s independence, it might be time to remember this blog’s great history. It seems a perfect time to expose some of the more popular earlier posts to new visitors who may have missed them.

So below are links to five of my earlier posts that remain the most popular on this site. Note that getting “B2B marketing ideas” does seem to be a theme.

Three Great B2B Marketing Ideas I Read in (OMG) Print Media.

  • One over-the-top creative idea that was a big hit
  • Ideas for writing more powerful B2B marketing email subject lines
  • Report on the goals driving IT decision-makers and how they affect B2B marketing copy

Two simple B2B marketing ideas I wish I’d thought of.

  • Making it easy and inviting for prospects to access and share business/product information
  • Adding a powerful Web page that boosts communication and SEO

Five B2B marketing ideas you can implement (almost) instantly.

  • Boost content downloads
  • Increase landing page performance
  • Lighten the burden of creating nurturing content
  • Get a longer life out of email and direct mail content offers
  • Get better results by using the word FREE in subject lines and emails

The two biggest B2B marketing campaign essentials.

  • Targeting
  • Tracking

Bad thoughts that block B2B marketing success.

  • I’m reaching everyone I need to reach with email
  • Social media is the only way to go today
  • We tried that and it didn’t work

I wish all marketers out there a happy and safe Independence Day observance full of fun and festivities, and many years of successful B2B marketing using today’s best practices.

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B2B marketers: Let your market be your guide.

How do we B2B marketers make sure that the channel, offer and messaging choices we make have the best chance of producing the response we desire?

Let the results of this recent test conducted by one of the marketing agencies I serve be your guide:

THE CLIENT: The client sells advertising services to small businesses in markets across the country.

THE GOAL: Their goal was to enhance loyalty and help ensure renewal of their customers’ annual advertising contracts.

THE TACTIC: The client mailed, emailed and also provided an online version of a survey their customers were invited to complete.

THE OFFER: In exchange for completing the survey, the customer would have a chance to win a coffee card from a well-known national coffee retailer and get the results of the survey.

Now I ask, “How much does the dollar amount on the coffee card need to be to generate the best response?” Would it be $5, $10 or $20?

The agency’s client was sure that a higher dollar amount would produce a big increase in response. The agency’s experience was that the lower amount worked just fine. So a test was set up between the $5, the $10 and the $20.

The $5 offer achieved a 3.6% response. The $10 offer achieved a 3.6% response and the $20 did only a little better with a 4% response rate.

When this campaign is rolled out into future markets, the client will offer a $5 coffee card and know that they are almost maximizing response at a significantly lower cost.

The lesson is, don’t assume that what you would do is what your market would do.

Without testing offers (whether they be educational content, discounts, X-month free trials) there’s no way for those of us in B2B marketing to really know how to maximize results while minimizing costs. As the title says, when making B2B marketing decisions, “Let your market be your guide.”

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One B2B social media expert who’s got it wrong.

I’m not a social marketing expert. I don’t pretend to be. My expertise and knowledge are in the outbound arena. I’ve written many times that I still believe in outbound marketing because I see it working cost-effectively for all my B2B clients. They use it to reliably fill their pipeline.

Yes, inbound marketing is cheaper. Yes, it works. But users of it cannot control the volume or the timing of the inbound inquiries it receives. Outbound marketers using proven B2B direct marketing practices can.

Here’s the reason for my rant. Perusing B2B Marketing Zone, I saw the reposting of the blog by Dragan Mestrovic on his inBlurbs site “How to save 62 percent of your budget with inbound marketing.”

He knows inbound marketing. His advice and the statistics he presents are all perfectly valid.

This rant concerns what he says about outbound marketing because, on that subject, he’s way off base.

Outbound marketing communication is one-way.
Initially, it is. A B2B marketer sends a message that reaches out to a targeted group. That message, however, is designed to generate a response. The minute there is a response, the communication instantly becomes two-way.

Outbound marketers’ customers are sought out.
Of course they are. But the customers being reached are not random. By accessing targeted databases of opt-in customers, members of groups, trade show attendees, carefully compiled databases and more, the B2B marketing firm is reaching out to those companies and individuals who match the profile of their customers.

Outbound direct marketing has been around for so many years that the level of database sophistication is staggering. Unlike what Mestrovic proposes — that marketers fill out a persona sheet to build a customer profile — an outbound B2B marketer uses data companies such as Acxiom, Accudata or one of many others to build a statistically sound customer CHAID or regression model. That model is then matched against rental lists to find prospects that match the customer profile. There’s no guesswork involved.

Outbound marketers provide little or no added value.
Do inbound marketers think they invented content? It’s been around as long as direct marketing has been around. It used to be called an “offer.” That’s how outbound marketers get a response — by offering educational information. The very subject of the content is designed to generate qualified leads. B2B marketers test various offers against each other to let the response from the market tell them which is the best.

Outbound marketers rarely seek to educate or entertain.
See above about education. Entertainment can be part of any marketing message — outbound or inbound. But it needs to be used carefully, as a poor use of “cleverness” or “humor” in marketing can backfire and negatively affect the brand.

Mestrovic says that outbound marketing is losing its efficacy. But in the real world, B2B companies calculate what they are willing to pay to get a qualified lead and, once they do, they’ll find that outbound marketing is still a bargain and that, unlike inbound marketing, it can predictably generate those leads.

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Assorted B2B marketing tips, I know they’ll help.

The December 14 blog post from Seth Godin, marketing guru supreme, was full of good advice in “Assorted tips, hope they help.” Unfortunately, none of the tips are about marketing. My first thought was, only Seth Godin could get away with this and still attract millions of readers.

I have lots of good advice to give out, too. But I don’t have the luxury of millions of readers. Those who land here to get B2B marketing advice might not like being told how to eat better. Here, it’s just marketing advice.

You may not be eating better, or making better medical decisions, or remembering to backup your hard drive, but following my advice should help you get a pat on the back (and maybe a raise) for generating more qualified leads (and sales) for your company.

Here goes:

  1. In your designs (online or off) never reverse body copy out of a dark or busy background. Doing that is like saying, “We have cool designers who don’t care if you read a word of our message.”
  2. “Keep it simple, stupid” especially applies to marketing communications. Even highly educated C-level executives want to get their information in plain language without having to work at it.
  3. Just because someone is the president of a big company doesn’t mean they don’t like t-shirts with funny sayings on them. People are people.
  4. Always build your marketing budget based on what you’re willing to pay on a cost-per-lead and cost-per-sale basis.
  5. Put your free educational content offer and how to get it right up front in ALL your outbound lead generation communications.
  6. Forget the word “we” forever. Never use it again in B2B lead generation marketing. Prospects don’t care about you at that stage of the buy cycle. They care only about what you can do for them now.
  7. Stop being boring. Make your marketing messages upbeat to reflect the genuine excitement you feel about the services and solutions your company offers.
  8. Studies have proven that the more you promise about what your service or solution can deliver, the higher the level of satisfaction felt by your buyers. Don’t lie — but don’t hold back either.
  9. Schedule conversations with different sales people often. Sales people talk to prospects and customers and can help you make sure your marketing messages resonate in the real world.
  10. In B2B lead generation and nurturing, never waste the cost of any marketing by not including a strong, clear and compelling call to action. You can brand and generate leads at the same time.

These are not new, but they’re all worth remembering. And I have more where those came from.

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