by Fronetics | Sep 30, 2014 | Blog, Strategy, Talent
Are your sales reps as sold on your leads as you are?
In theory, it seems straight forward: You write engaging blog posts; you spread your unique as well as curated content via appropriate social media channels; you include calls to action; you watch your prospects take the bait; and, finally, you hand off a neat list of qualified leads to sales.
Sales, in turn, swiftly goes to work and the sale is a fact.
The reality is, as most of us know, far more muddled. You may be in the habit of dumping any lead, qualified or not, on sales. Sales, on the other hand, may be busy doing anything but tending to your leads. Hours go by. Hours turn into days. When sales finally do follow up, the lead has moved on.
Here is the bad news: Time kills even the most eager leads.
The 2014 Lead Response Report by InsideSales.com shows an undeniable connection between the time it takes to make contact with a prospect and the likelihood of converting that prospect into a customer. Since most companies will send out an automatic e-mail confirmation to anyone who has filled out an online form, the study looked specifically at the phone response rate, which it argues is a much more effective sales tool.
Consider a few of the findings:
- Fifty percent of buyers choose the vendor that responds first.
- The median first call response time was 3 hours and 18 minutes.
- Only a fraction of companies reply within five minutes.
That last number is important because another InsideSales study on lead response management found the following:
“Making a successful contact with a lead are 100 times greater when a contact attempt occurs within 5 minutes, compared to 30 minutes after the lead was submitted. Similarly, the odds of the lead entering the sales process, or becoming qualified, are 21 times greater when contacted within 5 minutes versus 30 minutes after the lead was submitted.”
If you need further proof that response rate matters, an article in Forbes on inbound marketing sums it up perfectly: “If your goal is to ‘pull your customer toward you’ in order to sell them something, then time is definitely of the essence.”
With these statistics in mind, it is more important than ever to ensure marketing and sales are aligned. Too often poor lead-to-customer conversion can be blamed on a disconnection between the two departments.
Work in partnership to establish a common sales funnel. Spell out who is in charge of each step of the sales process. It doesn’t matter who makes that first call to your qualified lead, but it is important that you know someone will actually pick up the phone with a sense of urgency.
Bear in mind: All your leads need to grow cold is time.
by Fronetics | Sep 24, 2014 | Blog, Marketing, Social Media, Supply Chain, Talent
“Practice makes perfect.” This is what we have been told by our parents, our teachers, Malcolm Gladwell, and researchers. And, as pointed out by Fast Company, “There’s even a Macklemore song about it, so that makes it real.”
Here’s the problem – it’s not real. A 2014 study found that practice doesn’t make perfect. Instead, reaching a mastery level of whatever it is that you are trying to reach is dictated by your personality, intelligence, and a number of other factors.
Where does that leave us? For business it reaffirms the adage: “Do what you do best, and outsource the rest.”
During a Small Business Week panel discussion Gene Marke, Inc. columnist and owner of the Marks Group, discussed the importance of strategic partnerships and outsourcing:
“One of the smartest things I’ve been seeing companies do is that they do what they do best and outsource the rest. Companies are now thinking more about partners they can work with to provide the type of technologies, services, and solutions they cannot do or don’t have time to do.”
Dan Leberman, the vice president and general manager of PayPal’s North American online small and medium business unit, expressed similar sentiments:
“It’s all about knowing your company’s core competencies. As a small business, you need to decide what you’ll build and what you’ll give to a partner.”
The supply chain and logistics industries have been slower to adopt social media and inbound marketing than other industries. Reasons for this include: a lack of understanding of the benefits, lack of experience, and both time and budget constraints. In short, inbound marketing and associated activities including content creation and social media management are great examples of what companies within the supply chain and logistics industry should consider outsourcing.
A 2014 study found that 86 percent of manufacturing marketers have adopted content marketing and that the majority (55 percent) of companies look to outsource partners for help.
As shown below, manufacturing marketers outsource a variety of content functions including writing, distribution, design, and editing.
Now that we know practice doesn’t make perfect – play to your company’s strengths and considering outsourcing the rest.
by Fronetics | Sep 23, 2014 | Blog, Marketing, Social Media, Strategy
The number of social media channels is astounding –and is growing daily. Which of these channel(s) should your business leverage? Here is what you should consider when determining which social media channels you should use for your B2B business.
Your ideal customer
Who is your ideal customer and on which social media sites are they active? Taking time to understand who your customer is and understanding where they spend their time is invaluable. If you want to reach potential and current customers you need to be where they are – you need to make it easy for them to find you and to engage with your business.
Competition
Identify which social media channels your competition is using. Do these align with the channels your ideal customers are using?
Don’t be follower. If your research has shown that your potential customers are using a social media channel that your competitors are not using, don’t assume your competition knows something you don’t. Play where your potential customers play.
Content
What type of content do you have, and what type of content do you feel will best attract and engage potential customers? Video, for example, is better suited for YouTube than Twitter.
Finally, it is essential that your business is an active participant on social media. Only take on what your business can handle and/or consider outsourcing.
by Fronetics | Sep 17, 2014 | Blog, Marketing, Strategy, Supply Chain
At Fronetics we work with companies within the supply chain and logistics industries to reach their business and marketing goals. We work with our clients to identify and execute strategies that produce results.
As discussed in a previous post, too often I see companies who have invested time and money into developing a B2B inbound marketing strategy and have fallen flat. Reasons include: a lack of strategy and commitment; not targeting the ideal customer; not publishing content consistently; not creating quality content; and being too focused on sales.
Is your current marketing strategy working? Does your website attract and engage? Does your website generate leads? Does your company generate leads via social media?
How many times did you answer “I don’t know,” or “no?” Be honest.
We are offering a free marketing assessment. The assessment includes a discussion focused on your current goals and challenges, an evaluation of the competitive landscape, and actionable strategies to help you grow your business.
Don’t worry, there is no fine print and there are no obligations.
by Fronetics | Sep 16, 2014 | Blog, Content Marketing, Marketing, Social Media, Strategy, Supply Chain
I work with companies from the supply chain and logistics industries to identify and execute strategies that will grow their business. Too often I see companies who have invested time and money into developing a B2B inbound marketing strategy and have fallen flat. Here are six reasons why inbound marketing strategies tend to fail:
The ideal customer is not being targeted
A successful inbound marketing strategy will attract and engage the “right people” – ideal customers. It is therefore essential that time is taken to understand who the ideal customer is, the needs of the customer, and the customer’s pain points. Your company’s website, social media presence, and email communications, should speak to your ideal customer.
Content is not published consistently
A common pitfall is establishing a blog, but only publishing content on a sporadic basis. To establish your company as an industry leader and gain leads, you need to publish content on a consistent basis. For example, your company needs to commit to publishing blog content every Tuesday.
Content is not quality content
All content is not equal. If you want your inbound marketing efforts to succeed, your content needs to be quality content. Your content should be well-researched, sourced, and edited. Grammatical errors and misspellings are inexcusable.
More isn’t always better
It is easy to sign up for a social media account. I’ve seen many companies who have decided to jump into social media feet first and have established many social media accounts, only to become overwhelmed. If you want your inbound marketing strategy to succeed, it is more important to be active on one social network than inactive on five.
Lack of strategy and commitment
A 2014 study of B2B marketers found that companies that have a strategy in place are more likely to consider their efforts effective than companies that do not have a stated strategy in place. Companies that do not have a strategy in place, and who do not have someone in charge of the strategy tend to fail.
A focus on sales
Content that informs and educates attracts and engages. Content that is “salesy” not only fails to attract and engage, it turns customers away.
Is your inbound marketing strategy falling flat? Assess your strategy – honestly. Has your company fallen prey to these common pitfalls?
