Generating Business in the New Normal Economy

Friday, June 6, 14Wednesday, June 11, 2014

Generating Business in the New Normal Economy

CONFIDENTIAL ‹#›Wednesday, June 11, 2014

Did you know?

18%Of TV advertising

campaigns generatea positive ROI

54¢Is the average return insales for every $1 spenton outbound marketing

40%Of CMOs feel unprepared to meet

consumer expectations about marketing in the future

7%Of companies have achieved

leading edge performance with digital marketing

4%Of leads are generated

through social media channelscompared to other sources

79%Of marketing leads are never

converted into sales due to poor lead nurturing

Marketing is broken, with many marketing professionals and organizations still unprepared for the challenges ahead

Sources: Connected Marketing (Kirby & Marsden), Turbulence for the CMO (Accenture), MarketingSherpa, MarketingProfs.com


Marketing Redefined

Lead Generation

Questions


What marketing is not:

With a huge proliferation of marketing channels, you can now interact with tiny segments of your audience multiple times a day – and you have to. No longer can you spend money on 1-3 channels and know you’ll have success.

NOT Easy

Many business owners think of marketing in terms of tactics, but successful marketing depends on a holistic, strategy-based approach. You can’t achieve success without integrating all initiatives and defining your business goals.

Despite what you may have experienced, marketing is more than a tagline or the next big idea. Far beyond creative materials, marketing is fundamentally about generating business and driving bottom-line results.

A successful marketing strategy can no longer rely on paying to get in front of prospects. Today you have to focus not on paid media but on owned and earned media, building differentiated assets that are worth sharing.

NOT a Tactic

NOT a Catchy Idea

NOT Pay to Play


What marketing is not:

Effective marketing today is all about storytelling. You can’t rely on a dry presentation of facts through traditional messaging – successful marketers create stories that humanize their products and engage their audiences.

NOT Corporate

Interactions involved in the customer decision process now extend far beyond your marketing department. To improve all touch points, marketing must pervade your entire organization – we’re all marketers now.

Marketing today is no longer the first step leading up to a sale. With so many opportunities to connect with your customers, marketing has to focus on their journey with your company before, during and after any transactions.

NOT a Department

NOT a Transaction

Marketing is changing, and past strategies must give way to a new focus on customer interactions


Marketing redefined

Marketing should serve two functions: first, to spur interest in your brand, and second, to identify and strengthen every customer touch point.

Marketing decisions must now be made through the lens of your customers, keeping their long-term journey with your company in mind

Brand Content Awareness

Customer Service

Fostering Communities

Brand Advocacy

Product Launches

Targeted Deals

Customer Input

ReferralsBrand Monitoring

Crisis Management

Consider

Evaluate

Buy

Experience

Advocate

Bond

Monitorfor trends and insights

Respondto customer comments

Amplifypositive activity/tone

Leadcustomer opinion shifts

Ste

ps in

Cu

sto

mer

Decis

ion

Jou

rney Select, prioritize and budget the

appropriate channels to create top of mind awarenessMonitor how customers are judging your brand, especially as you are launching new productsLeverage CRM, landing page and E-commerce platforms to ensure a seamless buying experience

Interact with customers during their initial usage of your product

Make sure that any positive customer feedback is broadcast to other potential customersKeep interacting with strong brand advocates and offering rewards to loyal customers


Marketing can be divided into three categories

Owned and earned media depend on your marketing assets. Your company must take the time to

build out a clear message, differentiate yourself in the market, and develop new

marketing assets to support your story

Source: McKinsey Quarterly, November 2010

Most business owners focus on paid media, but owned and earned

media are key to engage prospects and customers with your brand, and to achieve a long-term

marketing advantage for your company


Standout companies commit to beating the dip

Many companies are not willing to invest the time and money in developing a

compelling story, message and brand. Marketing done the right way is hard

work.

While you may not see the results right away, you have to focus on becoming

number one in your niche. Marketing is not immediate, and it won’t provide instant gratification, but you can’t succeed in the long run without

differentiating yourself


At its core, marketing is about generating business

Like any other department in your company, you must judge your marketing efforts based on results, not awards.

With new capabilities to

quantify marketing success, you must

hold your marketing department

accountable for producing bottom-

line results and generating business


Marketing RedefinedLead GenerationQuestions


7 lead generation myths

SEO is important to generate traffic and support your website and online initiatives, but SEO alone will not generate leads for your business

One-off email blasts are not enough to drive leads - you need a strategic campaign with targeted messages for each step in the customer journey

Using Google paid search can be effective, but optimization requires constant management and strategic keyword and ad group set up

While social media is important, the truth is these channels generate only 4% of company leads and even less for B2B companies

???

“SEO is all I need…”

“But I sent an email…”

“I set up paid search

ads…”

“I have to be on social

media…”


7 lead generation myths

The truth is, buying a list is no longer an effective way to communicate with prospects, and your focus should shift to other inbound tactics

TV and direct mail are no longer the only marketing channels available, but they can still be effective and the associated costs have come down dramatically

Cold calling can be effective, but only when integrated with other marketing tactics to support outreach and provide valuable content to prospects

“Our lists are bad…”

“Traditional media is dead…”

“Cold calling is

ineffective…”


Marketing must generate business – but how?

After commissioning a survey of 450 marketing professionals, TribalVision identified multiple tactics that have been effective at generating business for

B2B and B2C companies


The two paths to generate new business

The two main strategies to generate business must focus on acquiring new customers and acquiring new business from existing customers

Prospecting Customer Retention

Sources: Customer Thermometer, Marketing Wizdom

The Roads to New Business


Prospecting tactics that dig beneath the surface

Take lead generation

beyond standard

tactics, with examples of

initiatives that are working for our own clients

today

Social Media

Outreach

• Identify and reach out to key influencers• Identify appropriate outlets to reach your audience, including

publications, bloggers, media outlets, LinkedIn Groups, Twitter influencers, etc.

• Execute targeted outreach through strategic outlets

Media Buying

• Use advanced analytics and metrics to ensure your media dollars are spent as efficiently as possible

• Consider CPM, CPP and AQH frameworks• Monitor media placement over time

Email Marketing

• Launch sophisticated drip campaigns• Create a detailed email content calendar, with multiple

messages for specific audiences• Develop custom landing pages and use A/B testing to

optimize conversion rates

Event Managem

ent

• Organize exclusive peer events where industry players can share views about their specific challenges

• Establish thought leadership and credibility with prospects• Personalize all outreach and post-event follow up


Prospecting tactics that dig beneath the surface

Take lead generation

beyond standard

tactics, with examples of

initiatives that are working for our own clients

today

Paid Search

• Perform rigorous due diligence on keyword selection• Engage in A/B testing, practice effective bid management,

and develop ad-group-specific landing pages

Tradeshows

• Coordinate trade show events including booth design, messaging and layout

• Conduct personalized pre- and post-event outreach• Engage visitors and prospects with VIP invitations, cocktail

receptions, contests and/or promotions

Webinars

• Identify key areas of interest for prospects• Include clear calls to action throughout the webinar• Conduct personalized outreach to attendees and no-shows,

and leverage webinar recordings online for new prospects

LinkedIn Outreach

• Develop customized content for InMail messages, which are ten times more likely to get a response than email

• Identify key prospects for targeted sales opportunities• Coordinate with marketing PDF’s and other offline content

creation


Retention tactics that drive new business

80% of your future profits will come from just

20% of your existing

customers

Decision Journey

Optimization

• Analyze the customer experience at every stage of the sales cycle, including initial exposure, research, decision-making, and post-sales communication

• Recommend methods to optimize the customer experience for long-term brand loyalty

Customer Outreach Calendar

• Develop a detailed outreach calendar to maintain personal contact with existing customers

• Identify strategy to leverage multiple messages and marketing channels, depending on customer segment

Database Segmenta

tion

• Assess current accounts to prioritize customer growth

• Identify cross-sell and upsell opportunities

• Conduct specific outreach for A, B and C list clients, with customized sales deck for each segment


Retention tactics that drive new business

It can be up to 7 times more expensive to

obtain business from a new

customer vs. gaining

additional business from

an old customer

Customer Advisory Boards

• Empower customers to provide feedback and have a voice in your company

• Assemble 5-10 key clients to offer feedback, help refine existing offerings and participate in product development

Customer Summit Events

• Unite your top customers in an active and collaborative discussion

• Organize thought leadership discussions, feedback sessions and social bonding

• Personalize outreach and thank yous to VIP customers

Off-Peak Promotio

ns

• Target promotions to take advantage of non-peak hours or seasonal downtimes

• Identify promising sub-audiences to target

• Develop customized promotions, referral programs, flash deals and/or red envelope surprises


Don’t forget about your sales force

Monthly Targets

Existing Accounts

In-person

Meetings

Video Conferen

ce

10 2

Former Accounts

3 1

Phone/ Email*

20

5

New Prospects

7 2 15

Your sales force is your most expensive

marketing channel, and is absolutely critical to ensure lead conversion

Make sure your sales team has clear goals, job descriptions, and targets to work towards, for both

prospects and existing customers


"Because the purpose of business is to create a customer, the business enterprise has two--and only two--basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.“

-Peter Drucker


Marketing RedefinedLead GenerationQuestions

Friday, June 6, 14Wednesday, June 11, 2014

Thank You!