More data has been created in the past 5 years, than in the rest of history. This enables us as Marketers to be increasingly powerful, increasingly able to generate business for our organisations. To reach that Holy Grail: knowing our customers so we can market to them in a smarter way that leads to relevance for them and cost savings for us.
But are we making the most of all the intelligence that’s our fingertips? Without analytics and without actually acting based on the results, we are wasting a huge opportunity.
Data is the cornerstone of any Marketing activity. It underpins everything we do. It determines our success. It allows us to understand our customers’ behaviours so we can identify new opportunities. It saves our Sales and Marketing budgets by allowing us to put the right message to the right audiences and build profitable relationships. In essence, it is the most important part of an integrated marketing strategy.
We need to constantly review how we’re managing, reporting and improving our activity based on the insight data provides. We need to provide insight to our Sales teams on contact behaviour in order for their engagement to be more profitable.
But I’m getting ahead of myself. That may be the vision of ultimate success, but where do we start? Data Quality, that’s where.
One area that stays constant is the need to build direct HUMAN CONTACT into a truly integrated programme. In this day and age it’s easy to distance ourselves from our audience and hide behind a digital persona. But it’s amazing what you can discover about your customers and prospects when you actually engage with them on a one-to-one level.
Yes; it may be unfashionable to say so, but we’re fans of picking up the phone and actually talking to people to move them through the sales cycle.
Use all the tools and expertise at your disposal in order to deliver impactful programmes, taking into account language, culture, market sizes and available channels to market. This delivers campaigns to move opportunities through all the stages of the customer journey, from acquisition to nurturing, to up- and cross-sell and ongoing retention in order to identify and maximise revenue-generation opportunities. And don’t forget to measure the results!
The question is as old as commerce itself, “when is a lead really a lead?” We are asked this frequently by our customers who are faced with the daunting task of creating, attributing and managing sales leads out to a time challenged sales team.
Of course, for each particular business and industry sector, the criteria to be applied will be slightly different but overall, there are some simple guidelines to score rate leads, so that they are as close to sales ready as possible.
Digital marketing has re-shaped the way that business can communicate with prospects and customers to drive lead generation and more importantly, valuable pipeline engagement at the right touch point to close a sale.
Today, we are able to identify, clarify and build data that maps our customer base as never before and the outcome of this should be less volume of leads but a higher enrichment of the value and readiness to purchase of each lead in the bottom of the sales funnel.
BANT (budget/authority/need/timing) qualification is a standard way of addressing and rating leads, often used in telemarketing but there are additional considerations that can be applied to broaden the depth of rating of a lead.
– Behaviours – what has the ‘prospect’ done when engaging with your offer? – What does the prospect business look like – do they match your customer base, are they a good fit for your services – Are they working with your competitors? – Is the contact within the organisation the real decision maker or do they have other influence? – What do the prospects customers look like? – What knowledge does the prospect have of your offer? – All of these considerations should be added to the lead generation mix in order to produce creative and informative campaigns to engage.
So when is a lead really a lead – when you know so much about them that they can’t not work with you!