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This is a guest blog by Dan McDade, CEO of PointClear, a business-to-business sales lead generation company and author of The Truth About Leads. Mr. McDade is a recognized expert in lead generation for complex sales processes.

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I am putting together a presentation for an organization that has its own “university” for marketing folks. My topic is how companies go about defining a lead. For the most part they don’t do a very good job of defining leads and I understand why.

Competing Metrics

In most companies, at least historically, marketing and sales have been measured by, and hence driven by, different metrics. For marketing to be rewarded, they must create a certain number of leads within a budget. That does not necessarily line up well with sales’ expectations, and has exacerbated the age old problem of communication between marketing and sales (sometimes called lack of alignment).

This condition has been simply accepted by or ignored by most senior managers. This has only complicated the task of using social media to create leads and sales. I know this seems harsh, but it is still true today in many organizations.

A Better Habit

To help me understand, and perhaps solve the problem, I researched many articles and reread a number of books, including Stephen Covey’s (remember him?) “The 7 Habits of Highly Effective People”.  While I have always agreed with and believed in every habit, I feel one of the “7 Habits” is most applicable: “Begin with the end in mind.”

The end is a sale and selling is based on effectively fulfilling need. Fulfillment of need is based on meeting the goals established by your business.  Of course, the most important goal frequently is revenue. To earn revenue, a company has to use a sales process. While there are literally hundreds of sales processes a company might follow, at the highest level the below is the process most sellers and buyers are navigating to win or lose, or choose or reject:

1. Find a pain (or need).
2. Get agreement that there is a pain.
3. Agree to do something about the pain.
4. Agree to a generic solution.
5. Agree to a customized, specific solution.

(The fact that most sales reps start the sales process at Step #5, regardless of the lead source or apparent stage, is the topic for another article.)

The Truth About Leads

Let’s say we run an online marketing campaign. Leads generated that identify people with a pain result in a bunch of Step #1 leads being sent to sales. Marketing may come in on plan and within budget (and begin celebrating—insert your personal vision of success here—mine is a good vodka martini). Meanwhile, sales is not impressed.

Even if the prospect has a pain, and agrees that their company has the pain, this individual may not be able to do anything about the pain (not a decision-maker and no access to power, other priorities, budgets) but they are a fully vetted Step #2 leads.  Hence, a lot of these leads go to sales immediately—and fall into a dark hole.

There are tens of thousands of companies (and hundreds of service providers) that are providing Step #1 or Step #2 “leads” to their sales team. That itself is really a problem. In fact, fulfilling the first 3 are not enough to get a prospect to do something about the pain or need.

Unless you can help prospects to agree to a generic solution (which includes asking them to help you create a vision of what success looks like) it is unlikely that you can close business. Only when a prospect has a vision of success can you effectively sell your customized solution—and then only if it is actually a fit.

Setting the Hook

In Jeff Molander’s book, “Off The Hook Marketing”, he states:

“…what separates professional fisherman from the novices?  Believe it or not, it’s not the fancy equipment.  … Catching more big fish more often means spending less time worrying about attracting them … [and more time] learning how to set the hook…”

In other words, if you don’t know how to properly set the hook you may as well forget about attracting more fish. If you don’t understand the sales process there is no sense in generating more leads. My article, “Why Your Sales Force Needs Fewer Leads!” goes into more detail about this.

Netting Leads with Social

Think through the steps in the sales cycle and how various social media resources might apply. Let’s assume that you are in B2B (business-to-business) and are selling something that is not a highly commoditized. A tweet (or a LinkedIn Update, or Facebook’s “What’s On Your Mind”) can and should be used aggressively for Step #1, identifying pain.

In fact, Jeff makes the point in his book that the best way to engage a reader is to solve their problem.  What better content to publish than solutions to problems your target market has? What better way to start a dialog?

Exploiting Social in a Multi-Faceted World

Social media has been called democratic or “like being at a cocktail party.” In reality, social is like any other media. When the 800 telephone number was introduced (free inbound was once a novelty), everyone predicted the end of the post office. Now you hear everyone talking about social, “inbound marketing,” mobile and how “outbound marketing” (sometimes derisively and incorrectly called “interruption marketing”) is dead.

The reality is that a blend of media is required to move prospects through the sales cycle (or, to be politically sensitive, “the buyer’s journey”).

Understanding the sales cycle helps you determine what medium to use when or where.

For example, we believe in what we refer to as multi-touch, multi-media, multi-cycle prospecting to multiply results. They key is multiple. A blend of media is required; and Optimized Prospect Development requires multi-cycles to stay in front of the right prospect with the right message at the right time.  In addition to knowing how to set the hook, it does not hurt to know where the fish are. So, using social media to identify pain (Step #1) and keep the hook in front of the right fish at the right time, by positioning yourself as a resource instead of a vendor, is essential.

I am going to declare victory and go make a vodka gimlet.

Photo credit: contemplative imaging

The post How to Align Social Marketing and Sales to Create More Leads appeared first on Sales Prospecting Tips & Methods | Jeff Molander.

Time to Read: 2 Minutes.

“How much time do I need to devote to LinkedIn per day?” is a valid question. But when you ask it you’re invested in lack—what you do not have. Time. But you do have time to invest in saving time, right? That’s what LinkedIn is, after all. I’ll prove it to you. Let’s start by changing your question to…

“How can I determine what LinkedIn’s purpose is for me, how I can best use it to achieve that goal in shorter time?”

See the difference? What if your purpose was to find a faster way to net a sales lead—rather than seeking out a silver bullet amount of time? What if your purpose was to meet the right prospect and pitch them in less time, get hired faster, have your manuscript discovered by a publisher sooner, speed up the conversion to sale process… whatever. This is how I approach it in running my publishing and professional speaking business.

I don’t read trendy “_________ (insert social media platform) An Hour A Day” books. I approach social media with a focus on abundance, not lack. I have all the time in the world to save time! This way the time question works itself out effortlessly.

Put as much time into LinkedIn as is needed to complete the task and generate a better outcome. Period.

For instance, I’m constantly targeting people within a company based on current position, experience background. I’m finding faster ways to increase the relevancy of my entire sales approach by monitoring what my targets are saying or asking for in discussions in groups or on Twitter. I combine this with tools like JigSaw.com (securing contact information) and Google (getting around LinkedIn’s paywall). I invest as much time as I need to achieve my goal.

“It all goes back to attaching value to the time you spend on LinkedIn,” says J.D. Gershbein, one of the top LinkedIn strategists in the world and a pioneer in LinkedIn educational programs.

“Once that trade-off leads to a positive outcome—however that is defined—it makes the difficult pill of logging the minutes or hours easier to swallow.”

Take the stance that LinkedIn ROI is qualitative—that results can be traced to activity, as opposed to actual time on the site—and you have a nice framework within which to work.

Photo credit: Jason A. Samfield

The post The Amount of Time You Invest in LinkedIn is Irrelevant to Results appeared first on Sales Prospecting Tips & Methods | Jeff Molander.

Time to read 3 minutes. Is social media relevant to the thermal processing industry? Or how about appliance manufacturing? Pollution engineering? Biotech, biofuels or energy? How about plumbing or pest control? Do Facebook, LinkedIn, Twitter and blogs matter to technical or industrial businesses? If you are hoping to sell something in these fields then the answer is yes. Yet most marketers of technical products and services are failing to generate business leads with social media marketing. Here’s why and how to avoid being one of them.

Doug Glenn, publisher of Industrial Heating magazine recently asked if social media is relevant. A fair question. But in his article Mr. Glenn seems pro, con and indifferent to social media all at the same time.

Find Purpose

As a professional speaker, I see industrial businesses dipping toes in social media marketing’s waters but not experiencing a clearer, focused understanding of it. They’re enthusiastic about advances like Facebook, YouTube and LinkedIn but not seeing them in a useful, practical way. They understand that social media provides the ability to instantly observe and react to customer behavior like never before. Industrial technologists can shoot and upload an educational video to YouTube but for what distinct purpose and under what plan to create a sale?

Ignore Popular “Wisdom”

After completing a year’s worth of research on today’s best industrial and technical “social sellers” an exciting opportunity revealed itself. There is a way for energy, manufacturing and engineering businesses to generate tangible business leads and sales using social media platforms. Here’s how.

Today, selling with social media requires ignoring the over-hyped “wisdom” of popular business gurus and returning to basic marketing principles.

Follow the Real Leaders

It took me a while but I found, Amanda Kinsella of Cincinnati-based Logan Services who is selling dozens of heating and air conditioning systems each month on Facebook. Then I met entrepreneur, Marcus Sheridan who is busy selling more in-ground, fiberglass swimming pools than any business in North America using a blog—and who’s being courted by manufacturers clamoring to buy it.

What’s their secret sauce?

Form 3 Simple Habits

I’ve come to learn that fundamental concepts powering effective social marketing programs are rooted in a return to marketing basics. Successful social sellers understand the difference between fooling around on social media and selling with it relies on developing three habits:

1. Getting back to basics, trusting instincts and solving customers problems
2. Designing to sell, planning social experiences to induce behavior/response
3. Translating, discovering customer need and feeding it back into marketing design

Your business can immediately begin selling using social media by applying these 3 success principles. And it’s not as difficult as you may think. Why? Because the social aspects of attracting, nurturing and successfully earning a purchase are already known to your marketing team and sales force.

This isn’t a revolution of how marketing is done. This is simply evolution. Don’t buy into the hype and buy into the easy answers.

Join the Evolution

“What’s working” is what has always worked. Successful social sellers are merely designing digital interactions (“conversations”) in ways that solve customers’ problems. This makes it easier to help guide customers toward technically-oriented products and services. That’s how social media can deliver sales to your business.

It’s true: social media rarely reveals a clearer path forward. For most businesses Facebook, blogs and such are just confusing them more. Even more perplexing, experts keep claiming social media’s arrival represents a revolution. Yet in practice most of us are experiencing the same, mediocre results from social marketing that traditional advertising has produced—customers’ fleeting attention. And that’s why I’ve decided to research, write and speak on this subject and bring needed information into the hands of people like you.

Photo credit:  Caveman Chuck Coker

The post How Energy, Manufacturing and Technical Businesses Sell with Social Media appeared first on Sales Prospecting Tips & Methods | Jeff Molander.

Time to read: Two minutes. How should you market your small business on Twitter?  You are not alone in asking.  Step one: Ask a better question.  WHY should you use Twitter?  Step two: Ask yourself IF Twitter can make what your business already does better.  Here’s how to find out if Twitter can help grow your business — and how — in 2 simple steps.

Now you’ve probably heard of using Twitter to broadcast.  You know, being “a content filter.”  Or being a “curator” of content.  Forget these buzzwords and this idea.  Avoid using Twitter like everyone else does… as a way to “pass on valuable or interesting information to prospective or existing customers — your followers.”

It doesn’t work.  You probably suspect it.  There is a better way.  A painless way.

Step ONE

Ask yourself:

“How can Twitter help my business re-commit to helping customers make important life-stage decisions… or get important things done faster?   Specifically, can Twitter make my current investments in marketing better — with an interactive, social element?”

Answering these questions will give you clarity on if and how to apply Twitter in ways that grow your business.  For instance, business-to-business marketer Avaya (profiled in my new book on making social media sell) uses www.search.twitter.com to uncover leads — plugging them into an existing lead management system.  The result: $250,000 contracts being signed.  They’re literally helping customers “complaining into” Twitter solve a problem — namely, unload their current provider and find a better solution.  Avaya’s!  (read details about the story here)

Using Twitter to monitor for expression of your target market’s agnst or needs — and following up on them — is just one example of a purpose-driven approach to Twitter.

Step TWO

Ask yourself:

“How can our business make gestures on Twitter (as we do offline) that earn quality time with customers in ‘social spaces?'”

My personal experience with Twitter generates leads.  And here’s why.  Because I make my interactions with those I encounter on it meaningful: relevant and purposeful.  Or I don’t use it at all.  Here’s the secret.  I do it in polite, respectful and honest ways that opens doors for questions.  Needs that the other person has that my products and services have answers for.

For instance, I monitor search.twitter.com too.  I occasionally come across people who are looking for a content marketing speaker or social media speaker.  I often respond to the tweeter’s comment, complaint or question with something helpful.  I make myself honestly useful.  But I design the interaction to elicit response… and then respond to that response with another gesture.

The entire exchange is designed to assess where my prospect is in their decision-making (buying) process… IF they’re in one now or if they may be in the future.  I can then set the proper follow-up with them.  Simple!  And ultimately I net sales using Twitter.

Don’t be afraid to say no

Avoid being “a content filter” or a “curator.”  I know it’s trendy but ditch the idea.  Instead, use Twitter to serve a purpose — for you and your customers.  And ask better questions.  WHY should you use Twitter?

And be honest.  Ask yourself IF Twitter can make your existing marketing efforts better better.  Can it discover latent demand?  If so, great.  Plug it into your sales process.  If you don’t see an obvious fit don’t use it.  Be bold!

Photo credit:
oberazzi

The post How to market on TwitterStep one: Change the question appeared first on Sales Prospecting Tips & Methods | Jeff Molander.

Time to read: 4 minutes. Unfortunately, people don’t trust banks much these days — nor turn to them for financial advice.  For most banks, social media isn’t helping improve the situation.  But one Midwest bank is increasing share-of-wallet using social media.  AnchorBank is designing social media to solve customers’ problems.  Bottom line: most banks are failing to extract leads from social media and mobile marketing.  Let’s learn how to fix that.

Anchor Bank: A winning value-exchange

In life, most of us don’t plan. We react. Especially with our finances. And we don’t turn to banks for advice on complex decisions like retirement or college savings. We look elsewhere. So most banks run Web advertisements and social media ad campaigns. They try to change their image and make us more aware – they really do care and have answers.

But AnchorBank takes a different approach. This bank uses social media to give customers answers they’re needing. AnchorBank is making its product’s benefits real –- when and where customers display a need for them. It doesn’t try to change the minds of customers with ads.

AnchorBank is publishing a library of information (www.financialinformationcenter.anchorbank.com).Answers on everything from small business loans to managing credit better and what to do when preparing for a divorce. But the bank wisely uses this asset to generate leads for high-margin products. Customers literally qualify themselves for products they’re inclined to buy.

Translating need, exchanging value

AnchorBank’s social marketing function translates customer need.  They’re investing in a process that leads customers toward purchase of products by nurturing questions that the bank has answers to.  Customers are trading information on what they need (or don’t need), when and why in return for advice.  The way they express need may be explicit or implicit.  Urgent or latent.

AnchorBank built process around the content. Rather than trying to change customers’ perceptions or grab and keep their attention AnchorBank discovers need, nurtures it and captures sales through content marketing. The bank asks customers to trade information on their “state of need” for valuable knowledge — solutions to their urgent financial problems.

Proof’s in the numbers: AnchorBank is increasing share-of-wallet despite increased regulation and skeptical consumers. Share-of-wallet is the percentage (“share”) of a customer’s expenses (“of wallet”) that AnchorBank’s products/services have earned.  And they’re doing this all while boosting referrals and leads. They’re bucking the trend among banks.

AnchorBank thinks differently about social media marketing – in ways that produce more profitable ways of doing it. They have a different perspective on social media in general. A sensible, practical one.  By design.

Chase’s ‘+1’ campaign failed because it was designed to

Chase provides a brief example of a “social” campaign designed around limited qualitative outcomes.  Of course, it’s often celebrated as a triumph.  Gurus see it as a great case study of how to use Facebook.  Yet a closer look reveals mass-media era value that is largely based in “buzz” and “conversation” that is detached from creating meaningful customer behavior.

Chase failed to tap into the power of the Web in a way that creates meaningful behavior.  What they settled for was PR buzz around the campaign itself.

Chase’s +1 campaign resulted in customers getting little if any value beyond a momentary novelty.  Chase shorted itself on gaining tangible business value.

In a recent Facebook campaign hoping to enroll student card holders (the desired business outcome) Chase invested in banner ads throughout Facebook that invited students to join a Group page –- people who want to learn about or sign up for their new “+1” credit card.

34,000 or so students earned points for spreading Chase’s message that they could redeem later for DVDs and other merchandise — stuff that students actually value.  Concurrently student organizations could earn valuable points for each new referred student who became a Facebook Group member.

Unfortunately the good news stops here.  Chase’s Facebook Group has no means to capture information on student’s actual state of need.  Do they need a card?  If so what credit line and services do they expect?  When will they or might they need one?

Chase fails to capture and store such vital information — for future follow-up with individual students.  There is also no discussion board to monitor for needs-oriented chat among students –- which could have been fed back into the product marketing organization (this being a best practice).

Chase communicates with members unreliably –- when it feels like it (about once a month or so) –- with Facebook alerts about new offers (commercial information).  The program itself is heralded as a “win” given it is influenced by the involvement of several hundred student “ambassadors” who weigh in on how the program is designed in exchange for points or in some cases internship credit.  But this merely amounts to a digital focus group.

What Chase should have done and why

Chase’s agency said, “Students are engaged, and they’re giving us more feedback than we thought we would get… they tell us honestly what they think.”

Listening to customers is obviously beneficial — but only if you do something with the knowledge gained.   And that takes planning.

More importantly, prompting students to give qualitative information (beyond opinion) about their current “need state” would allow Chase to actively market the +1 card to students more effectively.

Overall this campaign was limited in that it didn’t organize around students’ behavior in a way that induces more, beneficial behavior… that generates valuable outcomes on customer and business sides.   Specifically, Chase’s +1 Facebook campaign was not designed to leverage actions that students are known to be actively taking (or willing to take) given what Chase knows about students.  It did not pair those actions with Chase’s objectives in a way that generated tangible outcomes.

The opportunity for you

Banks are inherently service-focused.  That’s a real strength that most aren’t leveraging in the digital realm.  So why aren’t more banks using social marketing to become ultra-relevant to the everyday needs of customers?  Needs that evolve faster and are increasingly driven by emotions?  It seems ripe for opportunity.

Everything banks do can be endlessly useful and always in context — equally relevant to the organization and to the customer.

Today’s banking customers see life this way:  Utility trumps novelty, fun or “engaging.”  While a sense of humor is always a good thing to have customers are having a hard time “lightening up” about their finances and those who they entrust with their money.  Customers want better, reliable service — not to feel better about your charitable giving.

So how can social media bring you closer to aligning your bank’s needs with customers needs through actions both of you take on the “social Web?”

The post How AnchorBank creates social leadswhile Chase struggles appeared first on Sales Prospecting Tips & Methods | Jeff Molander.

(63 MINUTES)

Featuring:
Amanda Watlington, Searching for Profit
Lee Gientke, Leadpoint.com
Sam Harrelson, CostPerNews.com
Jeff Doak, Converseon

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