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Www.lookingglassmarketing.com. Terminology:Terminology: Drip marketing Drip marketing Relationship marketing Relationship marketing Defined:Defined: Initiating

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Page 1: Www.lookingglassmarketing.com. Terminology:Terminology: Drip marketing Drip marketing Relationship marketing Relationship marketing Defined:Defined: Initiating

www.lookingglassmarketing.comwww.lookingglassmarketing.com

Page 2: Www.lookingglassmarketing.com. Terminology:Terminology: Drip marketing Drip marketing Relationship marketing Relationship marketing Defined:Defined: Initiating

● Terminology:Terminology:● Drip marketingDrip marketing● Relationship marketingRelationship marketing

● Defined:Defined:● Initiating a conversation with Initiating a conversation with

prospects and customers over prospects and customers over period of timeperiod of time

● Growing relationships by Growing relationships by sending unique and valued sending unique and valued messages to prospects and messages to prospects and customers on a regular basiscustomers on a regular basis

● Leave a positive imprint in Leave a positive imprint in theirtheirmind until they're ready to mind until they're ready to buy!buy!

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● Sending out an e-newsletter when you Sending out an e-newsletter when you get around to it get around to it

● Randomly calling leads every six Randomly calling leads every six weeks to see if they are ready to buyweeks to see if they are ready to buy

● Blasting your entire database with a Blasting your entire database with a new case studynew case study

● Offering content that promotes your Offering content that promotes your company’s products and services and company’s products and services and does not take into account your does not take into account your prospects’ interestsprospects’ interests

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● Longer sales cycles, increased competition, ever-Longer sales cycles, increased competition, ever-changing business climate – need to be there changing business climate – need to be there when they are ready to buywhen they are ready to buy

● Forget about the one-off effort! According to the Forget about the one-off effort! According to the Direct Marketing Association, a prospect will need Direct Marketing Association, a prospect will need to see/hear your message to see/hear your message 3 times3 times to recognize to recognize you and a minimum of you and a minimum of 9 times9 times to make a sale to make a sale

● Nurture marketing process leads to:Nurture marketing process leads to:● Better qualified leadsBetter qualified leads● Higher close ratiosHigher close ratios● Stronger sales pipelineStronger sales pipeline● Shorter-than-average sales cyclesShorter-than-average sales cycles

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● Up to 95 percent of prospects on your Web site Up to 95 percent of prospects on your Web site are there to research and are not ready to talkare there to research and are not ready to talk

● As many as 70 percent of them will eventually buy As many as 70 percent of them will eventually buy a product from you — or your competitorsa product from you — or your competitors

● Longer term leads represent 77% of potential Longer term leads represent 77% of potential salessales

● 30-45% of leads not considered “viable 30-45% of leads not considered “viable opportunities” by sales become sales-ready within opportunities” by sales become sales-ready within 12 months12 months

● Nurtured leads produce a Nurtured leads produce a 20 percent increase in 20 percent increase in sales sales opportunities versus non-nurtured leadsopportunities versus non-nurtured leads

Source: Lead Generation for Complex Sale and The Definitive Guide to Lead Nurturing, Marketo

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● Building a relationship Building a relationship with a prospect is the with a prospect is the same as with any long-same as with any long-term relationship — you term relationship — you can’t force someone to can’t force someone to commit (to a purchase) commit (to a purchase)

● But you cannot afford to But you cannot afford to lose individuals because lose individuals because their willingness to buy their willingness to buy doesn’t match your doesn’t match your readiness to sellreadiness to sell

● Spend more time Spend more time marketing to and building marketing to and building relationships with the relationships with the peoplepeople

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● B2B buying process has fundamentally B2B buying process has fundamentally changedchanged

● Prospects are spending more time on the Prospects are spending more time on the Web doing independent research, Web doing independent research, obtaining information from their peers obtaining information from their peers and other third partiesand other third parties

● B2B buyers are now in controlB2B buyers are now in control● Changes the role of marketing Changes the role of marketing

● Old Way - Lead generation and moving onOld Way - Lead generation and moving on● New Way - Marketers must synchronize their New Way - Marketers must synchronize their

marketing efforts and provide prospects marketing efforts and provide prospects quality content throughout the sales cycle quality content throughout the sales cycle and do it in consistent and timely mannerand do it in consistent and timely manner

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● The results, in order of response rate The results, in order of response rate percentages:percentages:

● Telemarketing: 5.78%Telemarketing: 5.78%● Dimensional mail: 2.3%Dimensional mail: 2.3%● Direct mail: 1.88%Direct mail: 1.88%● Email: 1.12%Email: 1.12%● Inserts: 0.45%Inserts: 0.45%● Magazine: 0.13%Magazine: 0.13%● Radio: 0.1%Radio: 0.1%● Newspaper: 0.09%Newspaper: 0.09%

Direct Marketing Association (DMA) , Direct Marketing Association (DMA) , www.the-dma.org (B-to-B and B-to-C)www.the-dma.org (B-to-B and B-to-C)

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● Once you start incorporating multiple Once you start incorporating multiple touches, your response rates touches, your response rates increase:increase:● TelemarketingTelemarketing● Dimensional mailDimensional mail● Direct mailDirect mail● EmailEmail

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● Multiple response options increase your Multiple response options increase your response rate:response rate:● Fill out a Web form Fill out a Web form ● Return a business-reply cardReturn a business-reply card● Respond by emailRespond by email● Call a toll-free numberCall a toll-free number

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● Creating consistencyCreating consistency● Messaging based on who targetingMessaging based on who targeting● Value-based offersValue-based offers● Setting the rhythm:Setting the rhythm:

● Plan should include:Plan should include:● Target List Target List ● Messaging and ContentMessaging and Content● Frequency and ExecutionFrequency and Execution● MeasurementMeasurement

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● Understand and profile who you want to Understand and profile who you want to nurture:nurture:

● What makes up a good customer for your company?What makes up a good customer for your company?● What are the characteristics?What are the characteristics?

● Industry focus, company size, geography, revenue, Industry focus, company size, geography, revenue, etc.etc.

● What problems does my prospect need to overcome What problems does my prospect need to overcome each day?each day?

● What is the prospect’s top priority right now?What is the prospect’s top priority right now?

● Build a list of Prospects, Leads, CustomersBuild a list of Prospects, Leads, Customers● Prospect = no formal communication or has not Prospect = no formal communication or has not

responded to your company in the pastresponded to your company in the past● Lead = Prospective customer who has responded to Lead = Prospective customer who has responded to

your communication in past and/or is someone in your communication in past and/or is someone in pipelinepipeline

● Customer = existing or former customers who have Customer = existing or former customers who have done business with your companydone business with your company

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● Don’t have a list? Or need to supplement list?● www.hoovers.comwww.hoovers.com – (General B-to-B lists) – (General B-to-B lists)● www.zapdata.comwww.zapdata.com – (General B-to-B lists) – (General B-to-B lists)● www.jigsaw.comwww.jigsaw.com – (General business) – (General business) ● www.leadintelligence.com www.leadintelligence.com – (Competitive – (Competitive

product lists – small to mid-market)product lists – small to mid-market)● www.hartehanks.comwww.hartehanks.com - (Competitive - (Competitive

product lists – Enterprise)product lists – Enterprise)

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● Segment your list into A, B and C prospects and Segment your list into A, B and C prospects and customerscustomers

● Deliver communication and offers applicable to Deliver communication and offers applicable to each each

Prospects

E-Newsletter

Direct Mail Email Dimensional Mail

Telemarketing

Sales Contact

Prospect A

Yes Yes Yes Yes Yes

Prospect B

Yes Yes Yes Yes

Prospect C

Yes Yes Yes

Customers

Customer A

Yes Yes Yes Yes Yes

Customer B

Yes Yes Yes Yes

Customer C

Yes Yes Yes

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● Know your audience and ask yourselfKnow your audience and ask yourself

● How can we build credibility?How can we build credibility?● How can we show that our products/services will help them achieve How can we show that our products/services will help them achieve

goals?goals?● How can we differentiate ourselves?How can we differentiate ourselves?● How can we become a trusted advisor/expert to prospects and How can we become a trusted advisor/expert to prospects and

customers?customers?

● Integrate “pain” messaging: Integrate “pain” messaging:

● Getting More Organized to Save Time and Money:Getting More Organized to Save Time and Money: Do more Do more with reduced time, people, and finances; improve teamwork and with reduced time, people, and finances; improve teamwork and collaboration; and stay connected to the business while away from collaboration; and stay connected to the business while away from the office. the office.

● Managing Cash FlowManaging Cash Flow: Make your finance, operations, and other : Make your finance, operations, and other business processes more efficient. Gain better insight into what business processes more efficient. Gain better insight into what drives revenues and expenses, so you can improve your financial drives revenues and expenses, so you can improve your financial position and make more informed decisions about where to best position and make more informed decisions about where to best invest resources.invest resources.

● Finding and Retaining Customers:Finding and Retaining Customers: Find customers more cost- Find customers more cost-effectively, close deals faster, and improve customer satisfaction.effectively, close deals faster, and improve customer satisfaction.

● Reducing IT Costs and Risks:Reducing IT Costs and Risks: Stay focused on running the Stay focused on running the business—not wasting time and money dealing with network business—not wasting time and money dealing with network disruptions or fighting fires. disruptions or fighting fires.

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● We all consume media differentlyWe all consume media differently● Email, telemarketing, direct mailEmail, telemarketing, direct mail● Need to stand-outNeed to stand-out

● Use a common theme to break through the Use a common theme to break through the clutter and get your message acrossclutter and get your message across● Choose a theme that’s:Choose a theme that’s:

● FunFun● TopicalTopical● EngagingEngaging● Memorable!Memorable!

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● Need to make sure you offer something of Need to make sure you offer something of value or educationalvalue or educational

● Establishes you as an expert and is non-Establishes you as an expert and is non-threatening including:threatening including:● Articles Articles ● Case Studies Case Studies ● Press Releases Press Releases ● WhitepapersWhitepapers● Webinars/Events Webinars/Events ● E-Books/How-To’sE-Books/How-To’s● Research Findings /Analyst ReportsResearch Findings /Analyst Reports● Polls/Surveys/Quiz Polls/Surveys/Quiz ● Podcasts Podcasts ● Microsoft IncentivesMicrosoft Incentives

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● How often is enough or too much?How often is enough or too much?● Weekly? Monthly? Bi-monthly?Weekly? Monthly? Bi-monthly?● When it’s relevant When it’s relevant ● Resources, budget, capacity Resources, budget, capacity

and ability to deliverand ability to deliver

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● Setting the rhythm…move prospects Setting the rhythm…move prospects alongalongTiming (every 30 days) ActionContact #1 Introductory call with follow-up email

(Get permission/verify contact information)

Contact #2 Email with offer educational report/article

Contact #3 Direct mail with white paper offer– ROI of ERP

Contact #4 Email newsletter

Contact #5 Email and link to relevant case study or podcast

Contact #6 Direct mail invite to webcast with follow-up phone call

Contact #7 Follow-up touch base phone call - reminder

Contact #8 Email newsletter

Contact #9 Phone call to touch base and prospect interested in meeting with you!

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Timing (every 30 days) ActionContact #1 Thank you letter/gift and phone call

Contact #2 Email with offer to sign up for newsletter and training opportunity

Contact #3 Direct mail with white paper offer/report

Contact #4 Email newsletter

Contact #5 Email and link to relevant podcast or article

Contact #6 Direct mail invite to customer briefing event and follow-up phone call

Contact #7 Follow-up touch base phone call - reminder

Contact #8 Email newsletter

Contact #9 Phone call to set-up lunch meeting to discuss possible project need

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● Adjust your budget to spend Adjust your budget to spend lessless on the on the larger prospect pool and more on qualified larger prospect pool and more on qualified prospectsprospects

● Budget for marketing offers Budget for marketing offers ● Sample dimensional mailing cost per:Sample dimensional mailing cost per:

Low High

Promo Item $1.25 $4.50

Card $.50 $1.00

Envelope $.28 $.75

Postage $1.50 $2.50

Labor (printing, label, assembly)

$2.00 $2.00

Total $5.53 $10.75

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● Execution includes:Execution includes:● Following a planFollowing a plan● Resources and funding to keep Resources and funding to keep

momentummomentum● Multiple tactics (direct mail, email, Multiple tactics (direct mail, email,

phone)phone)● Multiple offers to move your Multiple offers to move your

audience along in the sales cycleaudience along in the sales cycle

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● How do you integrate How do you integrate into nurture plan?into nurture plan?

● Communicate that you Communicate that you are active on various sites are active on various sites such as LinkedIn, Face such as LinkedIn, Face Book, Twitter, etc. and Book, Twitter, etc. and invite them to join your invite them to join your social networking sitessocial networking sites

● Start-up a group and ask Start-up a group and ask them to join, see who them to join, see who else is connected in their else is connected in their network and get an network and get an introductionintroduction

● Participate in online Participate in online discussions (answer discussions (answer questions/provide questions/provide opinions)opinions)

● Post company events and Post company events and happenings on siteshappenings on sites

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● Monitor and analyzeMonitor and analyze● Track each phase of plan and response – Track each phase of plan and response –

can’t improve what you don’t measure!can’t improve what you don’t measure!● # of responses and qualified leads# of responses and qualified leads● # of closes# of closes● Number of downloads by offerNumber of downloads by offer● Number of appointments madeNumber of appointments made● Track your web trafficTrack your web traffic● Measure ROIMeasure ROI

● Be flexible and make changes as necessaryBe flexible and make changes as necessary

● Ensure continued support and funding to Ensure continued support and funding to continue nurturingcontinue nurturing

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Think long-term – anything worthwhile Think long-term – anything worthwhile takes hard work and persistencetakes hard work and persistence

Know who you want to target and Know who you want to target and what they are interested inwhat they are interested in

Build relationships that are personal Build relationships that are personal and respectful and respectful

Offer information that is educationalOffer information that is educational Consistency and follow-up is keyConsistency and follow-up is key Measure and trackMeasure and track

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● Review target lists, begin segmentingReview target lists, begin segmenting● 3 offers they might be interested in 3 offers they might be interested in

receivingreceiving● Start thinking of theme/messagesStart thinking of theme/messages● Outline a plan and budgetOutline a plan and budget● Begin executing, building relationships Begin executing, building relationships

and planting those seeds to success!and planting those seeds to success!

Page 33: Www.lookingglassmarketing.com. Terminology:Terminology: Drip marketing Drip marketing Relationship marketing Relationship marketing Defined:Defined: Initiating

● Marketing consulting group focused on helping small to mid-market Marketing consulting group focused on helping small to mid-market companies grow their business through effective marketing companies grow their business through effective marketing strategies. Services include:strategies. Services include:● Marketing planning and budgeting Marketing planning and budgeting ● Campaign development and execution Campaign development and execution ● Outsourced marketing managementOutsourced marketing management● Direct marketing Direct marketing ● Collateral creation Collateral creation ● Telemarketing Telemarketing ● Newsletters Newsletters ● Success stories Success stories ● Website development and strategy Website development and strategy ● Event planning Event planning ● Press releases Press releases

● Contact Jennifer Culbertsonjennifer@lookingglassmarketing.com614-453-5927www.looingglassmarketing.com

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Thank You for Attending!Thank You for Attending!