What Great Lead Management and Great PR Have in Common by Christel K. Hall, APR CBC
This is a guest entry from the SLMA Director of Pubic Relations who also serves on our Advisory Board.
What Great Lead Management and Great PR Have in Common
It might seem odd to compare something as nuts-and-bolts and finite as lead management with something as seemingly intangible as public relations. After all, lead management is all about tracking and proving return on investment. And the running argument for years in regards to PR, often in spite of sound advice from PR measurement professionals like Katie Paine and PRIME Research’s Mark Weiner, centers on “how impossible it is to track and show PR results. PR is, after all, not completely in our control.”
Hogwash. What has attracted me to understanding and supporting these two disciplines since the 1980’s is that, when performed well, both focus on the long-term process of building sound business relationships.
If you’re a great lead manager, you know that an inquiry can be turned into a qualified lead, and a qualified lead into a sale, for you or your competitor. In the process of nurturing that qualified lead, you get to know ...
<< MORE >>An Interview with one of the "50 Most Influential Sales Lead Management Professionals": Ruth Stevens, eMarketing Strategy
Who are your mentors and why?
I learned much from Jim Obermayer, who explained to me the crucial "Rule of 45," that says 45% of inquirers will eventually buy in the category--and thus supports the business case for lead nurturing.
What is the most helpful advice you've received to improve your business?
Do what you enjoy and are good at, and outsource the other things.
What is the most helpful advice you can give to help others improve their businesses?
The company with the best process wins.
How do you give back to the professional community?
I teach business marketing at Columbia University Graduate School of Business. It's amazing how much MBA's can benefit from some basic lessons on what works, and what doesn't.
What is your favorite business book?
New Rules ... << MORE >>
PRACTICE! The second fundamental success factor is Practice, Practice, Practice.
I was at a seminar this week and Michael Phelps, the world-class Olympic swimmer who has won more medals (14) than anyone else in the world, was being interviewed. He was asked why he was so successful, so dominant in his sport. His answer was startling: he worked out and swam (4-5 hours a day) for EVERY SINGLE DAY of the year (all 365) for 4 years in a row. That's 1,460 days of working out without a break. He told the audience that if you take a day off, it takes two days to get back to where you were before. If you take a week off, it takes two weeks to recover. So he never took time off!
One of my friends is a professional golfer. One day, while admiring his swing, I stated that I wished I could have his swing. He replied, "That's easy. Just hit 1,000 golf balls a day for the next year and you'll get there."
What a ... << MORE >>
Advanced B2B Sales Lead Management Strategies: A Report for CMO’s on what’s really working today.
Thursday, March 11, 2010 11:00 AM Pacific Standard Time
Direct from the front lines, hear the latest trends, and learn about successful programs, strategies and tactics from three of the top B2B industry experts.
Brian Kardon, CMO of Eloqua, the leading marketing automation software platform will share:
• The new future of lead management reporting—speaking the language the CFO and CEO will understand.
• How top B2B marketers are using digital body language insights to drive leads through the sales funnel.
• Seven key observations from what Eloqua has seen from its over 700 clients during the last 12 months
• The new breakthroughs resulting from marketing automation and the future impact on marketers job roles
Mac McIntosh, B2B sales lead management expert will share:
• Top ten big trends B2B marketers need to know and leverage to thrive in 2010.
• Three insights learned on the front lines about how to generate more leads ...
An Interview with Joe Lethert, one of the "50 Most Influential Sales Lead Management Professionals":
Company URL http://www.performark.com
Who are your mentors and why?
My father. He was an accountant but a born sales person. He taught me the value of relationships. It has shaped our model.
What is the most helpful advice you've received to improve your business?
Cash is everything. Great ideas can only be implemented with adequate cash.
What is the most helpful advice you can give to help others improve their businesses?
Build strong personal relationships with your customers and watch your cash. Profit is important but cash is king.
How do you give back to the professional community?
I co-founded a non-profit, Social Venture Partners-Minnesota to enlist entrepreneurs and professionals into philanthropy. I've also been a guest lecturer for three colleges.
What is your favorite business book?
I've read hundreds, many great, but two old books have had the greatest impact, Stephen Covey's 7 Habits and Peter Druckers Managing in Turbulent Times.
Which 4 basic skills or process steps do you recommend? Lead Generation Process
1. Start with a great database - it will ...
<< MORE >>COACHING: The First Fundamenal of Success: Get a Coach!
The first fundamental success factor is coaching. Every single Olympic athlete I watched this week had a coach, and some had several coaches. Lindsay Vonn, the women's Olympic downhill gold medalist
has a coach. Shawn White, men's half-pipe gold medalist, has a coach. Evan Lysacek, men's Figure Skating Gold Medalist, has a coach. The Russians, the Germans, the Norwegians, the Swedes, the
Canadians ALL have coaches. And they'll all tell you that they couldn't have done it without their coach.
So that's your first secret to Peak Performance --- get a coach! A good coach guides and supports, manages the training schedule, keeps distractions ...
An Interview with one of the "50 Most Influential Sales Lead Management Professionals": Trish Bertuzzi, The Bridge Group, inc.
Number of Years in Sales Lead Management: 30
Who are your mentors and why?
Mentors is a bit of a strong term but people whose books I have read that have inspired me and that I continue to follow via social media include: David Meerman Scott, Jill Konrath and Ardath Albee. They all bring something different to the table but the core of what they offer is sensible, straight forward business practices that can be implemented immediately with significant impact.
What is the most helpful advice you've received to improve your business?
Focus, focus, focus... Don't try to be everything to everyone and don't change your value proposition based on the most recent bright shiny thing. Fundamentals matter and all strong businesses are those built on strong fundamentals of value, service and thought leadership.
What is the most helpful advice you can give to help others improve their businesses?
... << MORE >>
How does Occam’s Razor Apply to Increasing Sales?
Recently a company president asked, “What is the fastest way to increase sales?” I countered by asking her if she had heard of Occam’s Razor? Of course she said, which invited me to go to the simplest answer, but first, a review of Occam’s Razor.
Occam’s Razor, attributed to William Occam, the 14th century theologian and logician Franciscan friar states that when competing hypotheses are equal in other respects, the principle recommends selection of the hypothesis that introduces the fewest assumptions and postulates the fewest entities while still sufficiently answering the question. Simply stated, the simplest idea tends to be the best choice. Occam's razor is phrased as pluralitas non est ponenda sine necessitate ("plurality should not be posited without necessity")i
In keeping with my thought to give her the simplest and fastest way to increase sales, my answer to the company president was that all inquiries and sales leads must be followed-up 100%. The average follow-up varies between 5-25% for most sales organizations. Ergo, follow-up 100% of the sales inquires and if you have been average up to this point you will get in front of 75% more buyers and close more sales.
Yes, research has shown that nurturing programs can increase the ROI for lead generation programs by 2X-3X. If marketing jumps in with marketing automation (email and or telemarketing nurturing),in my opinion, these count as follow-up.
Having a CRM and Marketing Automation program are key components, no argument. But the simplest, fastest, surest way to increase sales lies in the hands of sales management and the salespeople. If 100% follow-up is enforced and not an option, sales will increase in 90-120 days.ii
“100% follow-up Rule: Corporations that have a 100% inquiry follow-up policy will sell more that those that don’t.” iii
So, once again I am in agreement with William Occam, the simplest answer is usually the best. I knew there was something about those Francisans I liked!
_________________________________________
i. Wikipedia, this explanation is taken virtually verbatim from the Wikipedia definition.
ii. Obermayer’s opinion is that, “Salespeople assume every corporate rule, procedure, request or dictate is optional until it is repeated at least three times over two months.”
iii. James Obermayer, Managing Sales Leads: Turning Cold Prospects Into Hot Customers, (Mason, Ohio, Textere an imprint of Thomson/South-Western, 2007), and Racom Books, Page 15. To order go to Racom.
An Interview with Jill Konrath, one of the "50 Most Influential Sales Lead Management Professionals"
Company URL http://www.sellingtobigcompanies.com/
Who are your mentors and why?
Neil Rackham was a mentor in my early career. His research on sales questions had a profound impact on my sales success. Then later, in SPIN Selling, I used one paragraph on new product launches to create a consulting practice in the field.
Today my mentors are the social media people; those who are leverage online content strategies to attract prospects into their world..
What is the most helpful advice you've received to improve your business?
Focus on your passions. When you love something, you invest tons of time learning about it, researching, studying, experimenting and more. Ultimately, this leads you to become an expert in your field. And, in today's business world, expertise matters.
What is the most helpful advice you can give to help others improve their businesses?
Create rock-solid educational content. This does multiple things for you:
1. It demonstrates your expertise to people who don't know you.
2. It attracts your best prospects - those online seekers who are searching to answers to problems you ...
An Interview with Michael A. Brown, one of the "50 Most Influential Sales Lead Management Professionals":
Company URL http://www.michaelabrown.net/
Who are your mentors and why?
Early almost every boss I ever had, because from them I learned the worst and the best. Since owning my own business, every customer I ever had, because from them I learn courage and humility.
What is the most helpful advice you've received to improve your business?
Pay close attention. Ask before telling and learn before selling.
What is the most helpful advice you can give to help others improve their businesses?
Pay close attention. Ask before telling and learn before selling.
How do you give back to the professional community?
By presenting at public conferences, participating in professional associations, and offering on-line guidance to young people entering the leads business.
What is your favorite business book?
Soft Selling in a Hard World, by Jerry Vass
Which 4 basic skills or process steps do you recommend?
1. Identify
2. Analyze
3. Recommend
4. Execute
In your opinion, the best book on marketing is:
Effective Negotiating, by Chester ...
<< MORE >>An Interview with Andrew Gaffney one of the "50 Most Influential Sales Lead Management Professionals"
Company URL http://www.demandgenreport.com/
Who are your mentors and why?
Mixture of different execs.
What is the most helpful advice you've received to improve your business?
The success of your most recent customer will dictate the flow of your new customers.
What is the most helpful advice you can give to help others improve their businesses?
Measure as much as possible. Provide tangible and measurable results to your customers. Deliver on all promises.
How do you give back to the professional community?
I do a fair amount of public speaking and one-on-one consultations to offer guidance.
What is your favorite business book?
"New Rules of Marketing & PR" by David Meerman Scott
Which 4 basic skills or process steps do you recommend?
1. Clearly define your company's value.
2. Clearly define the value you add personally.
3. Outwork your competition.
4. Under promise and over deliver for your customers.
In your opinion, the best book on marketing is:
"Get Content, Get Customers Turn Prospects into ...
<< MORE >>Study finds 64.9% of B2B Marketers Cannot Track ROI
-58% do not qualify inquiries prior to lead distribution -
Los Angeles, CA – February 12th – Mark L. Friedman, president of The Velos Group and executive vice president of the Sales Lead Management Association (SLMA), today announced the results of the 2009 Sales Lead Management Study created by The Velos Group. Study results are now available on both the Sales Lead Management Association and Velos Group web sites.
"Aside from the nearly 65% of marketers who cannot track return on investment (ROI)," Friedman comments, "On a scale of 1-10, with 1 being extremely dissatisfied and 10 being extremely satisfied, 85% rated the quality of their sales force automation or customer relationship management (SFA/CRM) programs at 7 or less, and 55.9% rated their satisfaction at 5 or less."
When respondents were asked if they track marketing ROI, only 14.6% said they do it within the SFA/CRM system. 20.5% of marketers track ROI, but not within the SFA/CRM system itself.
<< MORE >>An Interview with Steven Woods of Eloqua, one of the "50 Most Influential Sales Lead Management Professionals"
Who are your mentors and why?
I've always admired entrepreneurs and scientists who had the perspective to look at an industry, or an area of knowledge, and completely rethink it in a new way.
What is the most helpful advice you've received to improve your business?
The only secret to success in business is that there's no secret to success in business. Hard work, careful thinking, and taking good care of every client is the only sure way to succeed.
What is the most helpful advice you can give to help others improve their businesses?
Don't be terrified of what you don't know. Jump in, experiment, and figure it out. Very little is hard to learn, it's just intimidating from the outside.
How do you give back to the professional community?
I write extensively on how to do a better job of engaging with buyers. I work to provide anyone wrestling with today's marketing challenges with lots of examples of other marketers who are tackling the same ...
<< MORE >>An Interview with Carlos Hidalgo, Annuitas Group, one of the "50 Most Influential Sales Lead Management Professionals"
Company URL: http://www.annuitasgroup.com
Who are your mentors and why?
I have had the good fortune of having many good people in my career who I was able to learn from and who gave me opportunities to grow in my career. Two people in particular that come to mind
are Randy Aronis and Jeff Honeycomb. Randy is the President of Ingenuity Sales Consulting and he and I met at the beginning of my career. Randy was the one who truly taught me what it was to manage a
buyer relationship and how to sell effectively with the buyer at the center of the process. Jeff Honeycomb was the President of the Service Management Business Unit of McAfee and gave me ample
opportunity to develop a lead management practice within the business. In addition he continued to, provide me with great advice and inputs as we proceeded in its development.
What is the most helpful advice you've received to improve your business?
We have a phrase internally which is "plan the work, then ...
Are Marketing Managers Victims of Learned Helplessness?
How do Marketing Managers stop being victims?
The condition called Learned Helplessness, was discovered and popularized by psychologist Martin Seligman. He found that when he placed dogs into an inescapable environment and administered electric shocks the dog eventually stopped trying to escape. If the dog was placed into an environment where it could escape and given shocks it would still not try to escape. It learned to give-up. This discovery has had a major impact on human psychology.
... << MORE >>Sales & Marketing Management and the SLMA Partner on a New Business Social Networking Site for the Industry
New York (January 19, 2010)—In partnership with the Sales Lead Management Association (SLMA), Sales & Marketing Management (SMM) launched SMMConnect.com, a new social media and networking community exclusively geared toward sales and marketing professionals.
Registration is open to everyone—sales and marketing executives and association members, students, and suppliers—and is completely free. Members are encouraged to create their own profiles; network and find mentors; form discussion or chat groups; share content and best practices; take part in and/or present educational Webcasts, including those from SMM and the SLMA; and download exclusive research, case studies, white papers, event handouts, and articles from SMM, the SLMA, and other industry experts.
The site also features exclusive complimentary online training tools and other widgets that can be customized for member organizations, as well as SMM Rewards Exchange, powered by CorporateRewardsXchange.com, which offers prices below major retailers’ from leading brands for sales performance rewards, engagement and motivation solutions, and business gifts.
"SMM is pleased to partner with the SLMA to bring SMMConnect.com to the sales and marketing community," said Joyceann Cooney-Garippa, SMM’s group publisher and show ...
<< MORE >>SLMA Announces Winners in the "50 Most Influential Sales Lead Management List for 2009"
James W. Obermayer, executive director of the Sales Lead Management Association has announced the results of the voting for the Most Influential People in Sales Lead Management in 2009. A total of 1604 people cast votes.
Obermayer said, "These men and women are creators of wealth and we recognize their contribution to this important field of managing sales leads." The list of the Most Influential People in Sales Lead Management in 2009 follows in the order of most votes received.
<< MORE >>Voting Ends in 48 hours for the 50 Most Influential People In Sales Lead Management
The voting for the Top 50 People in Sales Lead Management in 2009 will end at 5 PM on Friday, November 13th.
James W. Obermayer, the executive director said that the Top 50 List will be determined by the number of votes received by each nominee. Nearly 1500 people have voted and cast an
average of 3 votes each (5 votes each are acceptable). Vote now.
The nominees are:
Determining Where a Lead Is In the Buying Process
One thing we know with certainty is that all leads are not created equal, making lead scoring crucial for marketers so they can determine prospect readiness and take appropriate action at the right time. Increasingly, automation is key since spreadsheets and calculators can no longer do the job given the volume of leads and their varying sources, interactions and demographics. Marketers don’t have time to track leads and crunch complex numbers while also crafting innovative product campaigns.
Similarly, metrics used to track and evaluate marketing programs must change, since today a simple “hit” on a website might mean far less than a combination of hits or other actions by the same prospect over time.
This isn’t to say that metrics regarding hits on websites are unimportant, or that you shouldn’t track email clicks. However, they are no longer the endpoint; instead they are just the beginning of real marketing analytics used to determine where each lead is in the buying process, and how to respond.
As marketers, we must change how we track and score prospect behavior to determine when a lead is truly a lead and ready to be passed to sales. As part of this, we must also identify ways to nurture early leads into “sales ready” buyers. What this means is that marketing must be able to recognize which leads are ripe and which still need time on the vine—then grow those leads accordingly.
Lead scoring helps make an accurate determination of how ripe each lead really is.
Lisa Cramer is president and co-founder of LeadLife Solutions, a provider of on-demand lead management software that generates, scores, and nurtures leads for B2B marketers. For more information on lead management or best practices call 1-800-680-6292 or email info@leadlife.com.
