Target Marketing Strategy

Target Marketing StrategyDoes your target market strategy involve selling to a finite set of accounts? Is your Total Available Market (TAM) a small list of companies you can list on one or two pages of a word document? Does your company avoid buying marketing lists and limit outbound marketing to the masses? If the answer is yes to any of these questions then Revenue Generation Software™, driven by marketing automation technology under the hood, will boost your business to the next level and drive your target market strategy.

Here are six ways you can make the most out of your well-defined target market:

Relationship Marketing

Competitors are chasing the same target market as you are. It’s vital to differentiate your company from your competitors. One way to do that is to invest in building relationships. Use Revenue Generation Software™ to automatically and intelligently interact with prospects to create meaningful conversations that keep prospects thinking about you, not your competitor, first. Pre-configure relationship nurturing tracks that enable sales people to instantly drop strategic contacts into a nurturing program. Consistent, company-generated messaging will permeate your target account better than disparate, sales-generated messaging. Make sure to leverage technology to build relationships as part of your target marketing strategy.

Prospect Tracking

Sales people have a challenging job breaking into strategic accounts; it is not easy navigating an organization from the outside in. Many calls and emails can be sent with zero visibility as to the effectiveness of a sales person’s outreach. Use desktop software that streams business to business website visitor traffic in real-time to get feedback on sales outreach. Sales people will know when a strategic account responds to a call or clicks a link in an email with software that alerts the sales representative when the strategic account visits your company’s website.

Account Profiling

Unless they know an insider, sales people have a tough time finding whom to call without an organization chart. Use Revenue Generation Software™ to build a list of employees and their roles and map out an organization. Find a contact you need to call then instantly import the contact into your CRM, such as, saving time on data entry. Also, business intelligence information such as description, revenue, headquarter location, financials, executives, jobs and more are available to help profile companies.

Competitive Landscaping

Once your company identifies an ideal target identify their competitors. Use Revenue Generation Software™ to augment sales prospecting by quickly viewing competitors of a target account. Then start relationship marketing efforts with your strategic account’s competitor.

Marketing Engagement

Relationship marketing helps businesses and sales people stay in touch with their target market. It’s also important to engage your target market. Use surveys to stimulate interaction and engage your audience. Make sure to process the results and respond. Shield competitors from your finite account base by showing prospects your company is inquisitive and ready to listen.

Personalized Selling

Generic, company-to-company or company-to-person communication might be effective for businesses blasting out emails to massive marketing lists. However, if you know your target market and never buy lists there’s a good chance each of your target accounts, leads and contacts have been assigned a lead owner by your company. Use Revenue Generation Software™ to send closed-loop email messages from the lead owner and make communications personalized and intimate, vital for building relationships.

We encourage you to learn more about how Lead Liaison’s Revenue Generation Software™ can amp up your target market strategy and help your company break into strategic accounts. Even if your company only sells to a finite set of target accounts our technology can deliver immediate value and help your company increase revenue.

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Free Lead Nurturing Software

Free Lead Nurturing SoftwareThere are a few free lead nurturing software packages out there; however, don’t be fooled. My momma always said, “son, there’s no such thing as free”. Free usually comes with a cost. Whether its license limitations, an underperforming product or poor support/backing – nothing is free. If it doesn’t cost now then it will cost later. In my professional experience I’ve seen companies opt for free or less expensive solutions over slightly more expensive solutions that are higher quality. They implemented alternative solutions just to save a few thousand dollars. These companies got so deep into the implementation that they couldn’t back out. A poor performing, feature-limited and license right-limited product ended up costing them more money in the long run. What people don’t realize is it’s not all about cost. It’s about value, quality, direction and a partnership you (hopefully) get from a vendor. Seek out a partnership, not a vendor-customer relationship. Seek out an investment, not a low cost solution.

Lead nurturing is such a critical part of any B2B operation – don’t sell it short. Bringing a “freemium” or free lead nurturing solution into your organization could introduce serious ramifications. Go with lead nurturing software that’s easy to use, modular, and extensible with no limitations. I’ve seen some solutions in the marketing automation space that limit the number of emails that can be sent or the number of users than can create and/or deliver nurturing. There are also some scary, difficult to use user interfaces to build lead nurturing campaigns but we won’t go there. If you stumbled across this article for free lead nurturing software then you’re probably looking for a lead nurturing solution. If so, here are a few things to look out for:

• Free attracts the wrong crowd that you don’t want to be involved with. Companies/individuals inundating a system, overloading it and/or taking advantage of it for purposes different than what it was intended for. That could have adverse effects on your business and implementation such as performance hits.
• If you need help with your lead nurturing strategy you probably won’t get much attention from a vendor if you’re not paying them. Consider the whole solution necessary to drive results. Usually, the whole solution is product plus people.
• What’s next after the free version? How much do you have to pay? What are the boundaries of the free license?

Fill out the form on the top right if we’ve convinced you to stay away from free. We’re not free, but we’re worth every penny. Don’t look at lead nurturing as an added cost to your business, think about it as an investment in your business. Learn more about Lead Liaison’s lead nurturing software today!

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Prospecting Lists

Prospecting ListsA few times a week I get calls from businesses asking if I can provide a contact or prospecting lists for them to buy. They usually want the list to include specific criteria based on demographic, industry, title, revenue and email. I don’t sell lists, but I love this question because it gives me an opportunity to ask: “If you have a list of 1000, what do you do with it?” Most tell me that they split the list up based on state or territory then hand it over to their sales people. Some tell me that marketing will load them into their CRM and then they send out an email blast. These types of answers allow me to ask the most important question: “After that first step, what do you do with the ones that didn’t respond to your outreach?”

Just last week I had this exact conversation with a Director of Marketing. She was honest enough to tell me that most of them fall into a black hole. As much as we hate to admit it, this is not uncommon. It doesn’t matter if you purchase a prospecting lists, obtain lists from tradeshows and conferences, the most important thing is to make sure that you get the best results out of this investment and turn as many of those leads into revenue as soon as possible.

A CRM system alone cannot manage your leads and contacts effectively. It’s important that you have complimentary technology that can do what your CRM cannot do for sales and marketing. Lead Liaison’s Revenue Generation Software™ is a cost effective solution that will compliment your CRM and help you shorten time to revenue with key features such as; sales prospecting tools, real time lead capture, lead qualification, lead nurture and much more.

It doesn’t matter where your data comes from – cold calling prospecting lists, conference lists, email lists, or working from referrals – it matters most how you manage the information for maximum results. Lead Liaison is the solution to improve revenue generation and bring together sales and marketing synergy which you need for increased revenue.

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Using Marketing Automation with Customers

Using Marketing Automation with CustomersLooking for happy customers? The solution is not that far away. Marketing automation technology has many use cases. Businesses often think about using marketing automation as a prospecting tool. Why not use marketing automation with existing customers? Creating new clients is very challenging not to mention expensive. When you break down the numbers new customer acquisition costs can be very high. See how expensive it is to acquire your new customers by using this tool from Panalysis. Once you see how expensive it is to obtain new customers you’ll realize that keeping them is vital to the health of a business. Customer retention is even more important for businesses that have a subscription-based business model. Subscription-based businesses are faced with the challenge of keeping their customers happy through the entire term of the relationship, not just in the beginning. Waiting until renewal time to contact your subscription client is bad business. Marketing automation helps businesses stay in touch with their customers, keep relationships warm and keep communication levels high. This makes perfect sense, but it’s near impossible for companies to do without the proper tools.

I bet 80% to 90% of all business make the sale and move into a completely reactive mode, responding only to customer support inquiries. A paradigm shift is necessary for companies with a reactionary model. They’ve got to start thinking about proactive communication. The purpose is not to add administrative overhead, but to reduce risk of customer churn. Also consider the benefit of

• Up-selling customers by keeping them updated on new products or services,
• gaining referrals from customers as they’ll now be keeping your top of mind,
• accelerating word of mouth marketing as customers can forward informative content to their colleagues, industry contacts and friends,
• educating your customers with new product information and/or ways they can get the most out of your product by tapping into features they may not be aware of,
• brokering communication with your clients which fosters feedback and product growth,
• training customers using methodical, automated communication that ties in lessons, delivered via email, quizzes delivered via surveys and answers delivered via email

Marketing automation technology can also help you create a risk score for your clients. A risk score serves as a key indicator of the likelihood your client will stay or leave. If there’s a low lead score then you’ve got reason to be concerned; however, if there’s a high lead lead score you’ve got reason to feel good about keeping your customer. Lead scoring can take into account the recency of activity. For example, if the client has not recently logged in, watched a webinar, downloaded a document or engaged with your brand in over six months they might be losing interest.

We hope you put these tips to good use and use marketing automation with your customers. Not using marketing automation technology yet? Try Lead Liaison’s Revenue Generation Software™ and start creating happy customers today.

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