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Warming up prospects? The truth about cold calling.

Tuesday, February 16th, 2010

The last thing a sales associate wants to hear from his manager is “make these cold calls.” Truth is, if you’re selling B2B cold calling is NOT going to work. Why? Sales turn on calling to get leads and turn it off when no value is yielded. Cold calling is hit-or-miss because, more often than not, the approach is not aligned to your sales process. So consider this: what if your approach to calling is the problem, not a lack of interest? We know its marketing’s role to prequalify and warm up suspects, to build the sales pipeline and scrub databases. Truth is that, when integrated and timed with online/offline direct marketing tactics, teleservices can be a cost effective marketing tool to pre-qualify suspect lists, boost event registrations, and/or improve customer relations. When used strategically, teleservices can succeed in converting target audiences, heightening awareness, obtaining new contacts, scrubbing databases, and gaining business intelligence. How?

Ask yourself the following questions. If you answer “no” to any, you need to adjust your approach and refocus your marketing efforts to warm up your calls…and your prospects!

  • Do you have a call-to-action/compelling event?
  • If yes, is it strong enough to create demand?
  • Have you properly, specifically identified your target audience?
  • If yes, are you reaching them?
  • Do you have something readily available that the caller can leverage real-time on the phone?
    i.e. 15 minute demo or free 30-day trial
  • Have you evaluated how teleservices fits into your unique sales process?

No science to human factors, just a good process

Friday, February 5th, 2010

In the late 1990’s, dot com companies were sprouting up fast racing toward an IPO or quick exit strategy. Cha-ching! Right on their heels up-started interactive design firms that smelled blood, and preached the psychology of usability (”human factors science”). Been there, seen that. Your requirement: excessive hours and budget commitments across your executive team, marketing and R&D, even before any technology is integrated—your real intellectual property. There is no debate here regarding the value of an intuitive website, software application or interactive sales and educational materials. But, if you want to get to market fast and in a cost efficient manner, a team of Sigmund Freud lookalikes in turtlenecks are not required. The basic ingredients to consider are:

  • Innovate one step beyond your competition (the vision)
  • For software applications, ensure sales can sell and R&D can build
  • Assemble a team that follows user-centric design and communications principles
  • Unite all development stakeholders with a project plan
  • Gain feedback from your customers early and often (the validation)
  • Form a go-to-market plan to reach customers, prospects, and new audiences

FYI: The majority of the aggressive dot com’s and thirsty Freud designers shut their doors. New companies emerged or retooled with smarter growth strategies and budget management practices.

Evaluating your events strategy: Maximize your investment.

Tuesday, January 19th, 2010

So now you’ve selected your events carefully and allocated your dollars wisely. Now be sure to get the most for your money. Here are some ideas to help make your investment go the distance.

  • Split the costs and assess what your partners are doing. If they already plan to invest in a trade event you are considering, sharing the cost/resource burden can get you into a first time event inexpensively.
  • Be creative: work the event not just the booth. Your exhibit contract often includes basic/limited ways to promote your company unless you can get in early with expensive sponsorships, but traditionally small and mid-sized business get lost among the popular brands. Use out-of-the-box thinking to conceive new, cost efficient ways to reach your audience who are already about, such as private hospitality or demo events leveraging co-ops with participating trade associations or industry luminaries. Direct marketing tactics via nearby hotels and restaurants work also.

The bottom line? You must be able to justify your company’s events participation, especially when marketing budgets are in flux. Be smart, pace yourself and follow these sound strategies to ensure your events are effective in yielding the highest potential for sale opportunities.

Evaluating your events strategy: Allocate your dollars smartly.

Monday, January 18th, 2010

Focusing on quality not quantity when it comes to your events strategy is the key to wise management of your marketing dollars. Take the time to prequalify! Assess (or reassess) the events you are considering—those you’ve previously attended and new possibilities—with an increasingly discerning eye while keeping these suggestions in mind:

  • Make qualified chooses before you invest. Pay for one sales guy to walk the exhibit floor and attend a few conference sessions to determine if the event is right for you. If it is, be the first to sign up for the next event (at the current event) with a great booth location and a lead on speaking opportunities. If it’s not, you had an opportunity to hand out a few business cards and save your company lots of money.
  • Cut the bad ones loose. Events that used to yield success may no longer prove valuable. Do not continue to invest in these events out of fear that absence suggests instability. Today, demand creation supersedes brand equity in an event, so unless you have a free speaking slot secured, you should reallocate your marketing budget.

So, now that you’ve built your events calendar with the pre-qualified events you’ve deemed worthwhile, now what? Be creative to make sure you get the biggest bang for your buck. We’ll discuss this in greater detail tomorrow.

Evaluating your events strategy: Think quality NOT quantity.

Friday, January 15th, 2010

While online and offline events have proven successful in yielding a competitive edge for most business, without an events’ strategy they consume marketing budgets and resources. For this reason, we recommend formulating an events’ strategy. Consider these ideas as a starting point:

  1. Build a trusted community with recurring events.
  2. Make qualified choices before you invest.
  3. Cut the bad ones loose.
  4. Split the cost and assess what your partners are doing.
  5. Be creative: work the event, not just the booth.

Over the course of the next few days we’ll elaborate upon each of these points. Today we’ll just focus on the first recommendation:

  • Build a trusted community with recurring events. If you host seminars and webinars where attendance should be purposely limited and carefully screened, its best to lock-down a calendar (frequency) so that you can predict costs, subsidize with select co-sponsors, secure quality presenters and target lists, and allow time to promote only the topics that offer the greatest sales opportunities. More insights Monday…