by Fronetics | Jul 29, 2015 | Blog, Content Marketing, Leadership, Marketing, Strategy
In an interview with the Kitchn, Food Network’s Barefoot Contessa Ina Garten shared her top three secrets to hosting a successful dinner party – plan ahead, use your best stuff, and have fun building and sustaining relationships with those around you. Her focus may be food, but her advice is applicable to marketing and sales professionals. Undeniably, lead nurturing is remarkably similar to hosting a dinner party.
Using the dinner party strategy, let’s take a look at how your business can actively build relationships with prospects and advance the movement of leads through its sales funnel.
Clean house
As the host of an upcoming dinner party, it’s unlikely you’d host people in your home without first getting it in tiptop shape. The same should be true for your website, your company’s online home. As part of your preparation for a lead nurturing campaign, review your website and make any necessary modifications so that it presents the best digital representation of your business. Beyond increasing conversions, having an attractive, modern website that’s free of broken links and out of date contact information serves to establish your company’s website as a trusted resource for information.
Decide what to offer guests
Preparing a dinner party menu for a number of people requires some forethought and planning. For instance, what type of food would your guests enjoy? Do any guests have food allergies or aversions for which you need to plan? Just as you would build the menu for your dinner party, the decision about what content you’ll offer will be guided by the preferences and content needs of your leads. Create content that is relevant to your leads and make sure to identify appropriate channels of distribution in order to extract maximum value from your content.
Determine when and how you’ll serve menu items
Traditional dinner parties start with appetizers and move from one course to the next until after the dessert wine is poured. Similarly, the lead nurturing process is intended to push content to leads in a linear fashion, with the ultimate goal being that they’ll emerge as customers. Once your content “menu” is set, you’ll want to decide how you’ll serve them up to your leads. To do that, align content with where your leads happen to be in the buyer’s journey. Leads will enter and exit your lead nurturing campaign at different points, and that’s okay, just be certain that your content is relevant to leads in their specific stage. Regardless, each nurturing touch should be focused and specific and include a call to action to promote advancement in the buyer’s journey.
Create and sustain dialogue
Beyond sharing a meal, it’s likely that you’ll also take part in spirited conversation with your dinner party guests. While it’s certainly acceptable to offer up topics of discussion, your guests will not enjoy you dominating the conversation. Meaningfully adding to the conversation builds relationships not just by showing expertise, but by showing genuine interest. In other words, don’t view the lead nurturing process as a way to blast your prospects with promotional information or marketing materials; treat it as a dialogue. The best lead nurturing campaigns are designed to learn as much about your leads as you would have them learn about your company.
Say thank you
As host, at the end of the night when guests grab their coats and head toward the door, it’s polite to thank them for attending your dinner party. Extend that same courtesy to your customers and leads. Whether it’s by showing gratitude to current customers for their continued support or showing appreciation to leads for their download, saying thank you goes a long way in building connections and professional relationships.
What’s required to run a successful lead nurturing campaign is building trust and establishing relationships with prospects and leads as you develop them into customers. Most of the effort involved in hosting a dinner party happens before guests arrive, so hosts are free to enjoy interaction and conversation with guests during the party. Lead nurturing can be approached much in the same way you’d plan and execute a dinner party. Developing a thoughtful lead nurturing campaign will almost always ensure meaningful – and memorable – communication.
Want to learn more about lead nurturing? Check out these 30 tricks and tips that will change the way you nurture leads.
Fronetics Strategic Advisors is a leading management consulting firm. Our firm works with companies to identify and execute strategies for growth and value creation.
Whether it is a wholesale food distributor seeking guidance on how to define and execute corporate strategy; a telematics firm needing high quality content on a consistent basis; a real estate firm looking for a marketing partner; or a supply chain firm in need of interim management, our clients rely on Fronetics to help them navigate through critical junctures, meet their toughest challenges, and take advantage of opportunities. We deliver high-impact results.
We advise and work with companies on their most critical issues and opportunities: strategy, marketing, organization, talent acquisition, performance management, and M&A support.
We have deep expertise and a proven track record in a broad range of industries including: supply chain, real estate, software, and logistics.
by Elizabeth Hines | Jul 16, 2015 | Blog, Strategy
Remember the days when a rear-view mirror was all we needed to make business decisions? Now, predictive analytics appears poised to turn hindsight into a relic of the past.
Two Gartner analysts echo that sentiment, stating, “Few technology areas will have greater potential to improve the financial performance and position of a commercial global enterprise than predictive analytics.”
Executives are eager to jump on the bandwagon too. Although only 13% of 250 executives surveyed by Accenture said they use big data primarily for predictive purposes, as many as 88% indicated big data analytics is a top priority for their company. With an increasing number of companies learning to master the precursors to developing predictive models — namely, connecting, monitoring, and analyzing — we can safely assume the art of gleaning business intelligence from foresight will continue to grow.
Amid the promises of predictive analytics, however, we also find a number of pitfalls. Some experts caution there are situations when predictive analytics techniques can prove inadequate, if not useless.
Let’s consider three examples:
- Predictive analytics works well in a stable environment in which the future of the business is likely to resemble its past and present. But Harvard Business School professor Clayton Christensen points out that in the event of a major disruption the past will do a poor job of foreshadowing future events. As an example, he cites the advent of PCs and commodity servers, arguing computer vendors who specialized in minicomputers in the 1980s couldn’t possibly have predicted their sales impact, since they were innovations and there was no data to analyze.
- Bias in favor of a positive result is another danger when interpreting data; One of the most common errors in predictive analytics projects. Speaking at the 2014 Predictive Analytics World conference in Boston, John Elder, president of consulting firm Elder Research, Inc., made a good point when he noted that people “‘often look for data to justify our decisions, when it should be the other way around.”
- Mining big data will further do little good if the insights are not directly tied to an operational process. I’ve a feeling more companies than we realize are wasting precious time and manpower on big data projects that are not adequately understood, producing trivia rather than actionable business intelligence.
With the above challenges in mind, talent acquisition and thorough A/B tests will be key components of any predictive analytics project. What else do you think organizations need to do to use foresight effectively?
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Fronetics Strategic Advisors is a leading management consulting firm. Our firm works with companies to identify and execute strategies for growth and value creation.
Whether it is a wholesale food distributor seeking guidance on how to define and execute corporate strategy; a telematics firm needing high quality content on a consistent basis; a real estate firm looking for a marketing partner; or a supply chain firm in need of interim management, our clients rely on Fronetics to help them navigate through critical junctures, meet their toughest challenges, and take advantage of opportunities. We deliver high-impact results.
We advise and work with companies on their most critical issues and opportunities: strategy, marketing, organization, talent acquisition, performance management, and M&A support.
We have deep expertise and a proven track record in a broad range of industries including: supply chain, real estate, software, and logistics.
by Elizabeth Hines | Jul 13, 2015 | Big Data, Blog, Data/Analytics, Strategy, Supply Chain
Analytics is good for business — as long as you can make sense of it.
Does your business suffer from a case of data overload? Or do you steer clear of new investments in supply chain analytics because you are afraid they could yield more data than your business can handle? You are in good company.
Several recent surveys indicate companies either are wary of advanced analytics tools or say they have failed to leverage the technology. The issue does not seem to be a lack of knowledge of its existence or potential impact — end users are generally well informed — but how to absorb the data effectively and apply it across the entire organization.
According to a Telematics Update, for example, vendors would be wise to spend less time on their sales pitch and more time presenting the data in a digestible format, ensuring compatibility with the end user’s legacy systems, and aligning the solution with the end-user’s key performance indicators.
The challenge is also captured in an Accenture survey in which only one in five companies said they are “very satisfied” with the returns they have received from analytics. And it’s not for lack of trying. Two-thirds of companies have appointed a chief data officer in the last 18 months to oversee data management and analytics, while 71 percent of those who have not created such a position plan to do so in the near future.
This passage from Accenture’s survey report hits the nail on the head:
Companies wanting to compete more aggressively with analytics will move rapidly to industrialize the discipline on an enterprise-wide scale, redesigning how fact-based insights get embedded into key processes, leading to smarter decisions and better business outcomes.
Most organizations measure too many things that don’t matter, and don’t put sufficient focus on those things that do, establishing a large set of metrics, but often lacking a causal mapping of the key drivers of their business.
As the survey suggests, the move away from an isolated approach to an integrated cross-functional model may be the key to squeezing the most out of supply chain analytics. According to Deloitte, the key to delivering strategic insights is creating asingle authoritative data set from which all business units can draw information.
However, only 33% of the Accenture survey respondents said they are “aggressively using analytics across the entire enterprise.” Instead, highly customized data is often collected for units within the organization. A spending forecast by procurement may look nothing like its counterpart coming out of logistics. The inconsistency in reporting makes it hard to share the knowledge, and that takes us back to square one: lots of data and little useful information.
Jerry O’Dwyer, a principal with Deloitte Consulting, summed it up this way in a 2012 post:
If you are performing analytics in different areas of the supply chain — for example, spend analytics or demand planning — you may be missing opportunities that an expansive approach can yield. For companies of all kinds, in-depth supply chain analysis offers an opportunity to create increased value throughout their operations.
Let’s hear it: What do you think companies need to do to put analytics to effective use?
Fronetics Strategic Advisors is a leading management consulting firm. Our firm works with companies to identify and execute strategies for growth and value creation.
Whether it is a wholesale food distributor seeking guidance on how to define and execute corporate strategy; a telematics firm needing high quality content on a consistent basis; a real estate firm looking for a marketing partner; or a supply chain firm in need of interim management, our clients rely on Fronetics to help them navigate through critical junctures, meet their toughest challenges, and take advantage of opportunities. We deliver high-impact results.
We advise and work with companies on their most critical issues and opportunities: strategy, marketing, organization, talent acquisition, performance management, and M&A support.
We have deep expertise and a proven track record in a broad range of industries including: supply chain, real estate, software, and logistics.
by Fronetics | Feb 10, 2015 | Blog, Content Marketing, Marketing, Strategy
You’ve likely heard it before – your business should be blogging. It’s understandable if it isn’t. Given the finite nature of a single workday, we all face daily pressure to prioritize projects and streamline strategies. But isn’t it true that our priorities should align with activities that have the most significant impact on performance? When data becomes the guide to choosing where to focus marketing efforts, it becomes clear that blogging is the powerhouse of digital marketing activity.
Blogging positively impacts a number of typical objectives for businesses. It makes it more likely for companies to be found in search engine results, produces higher quality leads, establishes industry expertise, and shortens sales cycles. To understand exactly to what degree blogging is affecting these outcomes, let’s take a look at the data.
Blogging generates high-quality leads and increases sales.
Practically all marketing activities ultimately seek to drive one objective – to increase sales. Many businesses are tying big sales wins to their blogging efforts. In a 2013 publication of Marketing Benchmarks, HubSpot reported companies that blog once or twice per month generate 70 percent more leads than those who don’t blog at all. Further, companies nearly double their sales leads by increasing blogging frequency from 3-5 times per month to 6-8 times per month.
Blogging drives increased website traffic.
Increased website traffic can almost always be linked to an increase in leads and sales. Companies with 51-100 pages on their website generate 48 percent more traffic than those with 1-50 pages according to the same HubSpot report. Consistent blogging activity builds the number of website pages and consequently the number of opportunities for your company to connect with customers, leads, and industry peers. Publishing frequency matters, too. Companies that blog at least 15 times per month get five times more traffic than those that don’t blog. Small businesses with 1-10 employees see the largest gains by posting more often.
Blogging links businesses and customers.
Business websites with blogs have 434 percent more indexed pages and 97 percent more indexed links based on the findings of a 2013 Social Media Today report. If search engines can easily find your business, prospective customers will find you easier, too. Building links ensures existing and potential customers can connect and engage meaningfully with your company.
Blogging seeks to educate and establish expertise.
Crafting and publishing quality blog content builds credibility and trust. Social Media Today reports a full 70 percent of consumers learn about companies through articles rather than ads and that 61 percent of consumers have made a purchase based on a blog post.
Data makes it clear that relevant and engaging blog content is a valuable marketing asset and sales driver for many businesses. In fact, marketers who have prioritized blogging are 13 times more likely to enjoy positive ROI. Is your company taking full advantage of this powerhouse marketing activity or is it missing opportunities to attract leads and delight customers?
by Fronetics | Feb 10, 2015 | Blog, Content Marketing, Marketing, Strategy
You’ve likely heard it before – your business should be blogging. It’s understandable if it isn’t. Given the finite nature of a single workday, we all face daily pressure to prioritize projects and streamline strategies. But isn’t it true that our priorities should align with activities that have the most significant impact on performance? When data becomes the guide to choosing where to focus marketing efforts, it becomes clear that blogging is the powerhouse of digital marketing activity.
Blogging positively impacts a number of typical objectives for businesses. It makes it more likely for companies to be found in search engine results, produces higher quality leads, establishes industry expertise, and shortens sales cycles. To understand exactly to what degree blogging is affecting these outcomes, let’s take a look at the data.
Blogging generates high-quality leads and increases sales.
Practically all marketing activities ultimately seek to drive one objective – to increase sales. Many businesses are tying big sales wins to their blogging efforts. In a 2013 publication of Marketing Benchmarks, HubSpot reported companies that blog once or twice per month generate 70 percent more leads than those who don’t blog at all. Further, companies nearly double their sales leads by increasing blogging frequency from 3-5 times per month to 6-8 times per month.
Blogging drives increased website traffic.
Increased website traffic can almost always be linked to an increase in leads and sales. Companies with 51-100 pages on their website generate 48 percent more traffic than those with 1-50 pages according to the same HubSpot report. Consistent blogging activity builds the number of website pages and consequently the number of opportunities for your company to connect with customers, leads, and industry peers. Publishing frequency matters, too. Companies that blog at least 15 times per month get five times more traffic than those that don’t blog. Small businesses with 1-10 employees see the largest gains by posting more often.
Blogging links businesses and customers.
Business websites with blogs have 434 percent more indexed pages and 97 percent more indexed links based on the findings of a 2013 Social Media Today report. If search engines can easily find your business, prospective customers will find you easier, too. Building links ensures existing and potential customers can connect and engage meaningfully with your company.
Blogging seeks to educate and establish expertise.
Crafting and publishing quality blog content builds credibility and trust. Social Media Today reports a full 70 percent of consumers learn about companies through articles rather than ads and that 61 percent of consumers have made a purchase based on a blog post.
Data makes it clear that relevant and engaging blog content is a valuable marketing asset and sales driver for many businesses. In fact, marketers who have prioritized blogging are 13 times more likely to enjoy positive ROI. Is your company taking full advantage of this powerhouse marketing activity or is it missing opportunities to attract leads and delight customers?
