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B2B Lead Generation Sales Team Performance

How to implement B2B sales lead scoring

Once you’ve got a reliable B2B sales lead pipeline, your focus shifts from getting those leads to identifying, nurturing, and closing them in order to make sales. But not all sales leads are created equal. You shouldn’t spend the same amount of time on every one that comes across your doorstep. Many companies have great website traffic, visitor engagement and repeat visitors that could all be considered warm leads. Developing specific scoring criteria on what is and isn’t a lead can be the difference between salespeople wasting their time and investing it against real prospects.

So how do you determine which ones are ready to commit to a purchase, which ones are lukewarm and need nurturing, and which are just kicking tires and not worth spending any time on?

Many advantages of a B2B sales lead scoring system

The way to answer those questions is to create a B2B sales lead scoring system. Lead scoring gives each one of those sales leads a ranking based on their activities – whether that’s on your website or through any of your content marketing devices, e.g. newsletters, social media posts or ads. The lead scorecard for each company will differ but not having one means there is no benchmark for determining what you classify as a sales-ready lead.

The power of scoring leads goes beyond simply boosting sales. You will find that it gives both sales and marketing a common language that helps to align them. Marketing will have a numerical value for each lead and can alter inbound marketing to target specific factors to generate more leads that meet specific criteria. It also allows marketing to better refine its messaging for top leads, testing approaches that might not work for less interested leads. For instance, you might be able to contact these leads more often or be more aggressive with your calls to action (CTAs). It also allows you to identify those highly satisfied customers who can act as champions for your company, especially when given encouragement through a targeted campaign.

How to keep B2B sales score

Setting up a scorecard can be relatively simple, by identifying the most important factors and giving them more weight than the “nice-to-haves.” First you need to establish the minimum criteria by which a customer is defined. These are qualifying characteristics, like: Must be in a specific service area, or Must be 21 years of age or older.  Then, identify the qualities that your targets usually possess. These are common but not necessarily essential, like the table stakes criteria we just discussed. The marketing department should be able to provide data here as they’ve likely done extensive research into who your typical customer is. Third step is to identify your ideal customer, those who the sales team would regard as having the most potential. What makes one prospect better than another? Someone in control of a certain size budget? A short timeframe in which to make a purchase?

Now that the characteristics have been listed it’s time to assess the behaviour of leads, the kinds of activities that suggest their level of interest and readiness to purchase. These activities are what moves them up or down the rankings, depending on the kind of activities they’ve engaged in and how frequently they’ve interacted.

Make a list of behaviours

Begin by listing all possible behaviour sales leads can engage in. While some behaviours are more important than others, it can be helpful to assign a point value to all behaviour (even if it is a very small value). So, don’t leave anything out just because it seems unimportant. Your scorecard should include site visits, fill forms, download requests, webinar participation and more. Here are some of the lead’s activities that earn points in the lead scoring model:

  • Visited a webpage
  • Number of website sessions
  • Participated in a webinar
  • Looked at pricing
  • Started a free trial
  • Filled out a contact form
  • Downloaded a lead magnet, like a white paper
  • Opened an email
  • Clicked on a link in a newsletter
  • Replied or forwarded an email
  • Shared content on social media

Some of these behaviors will be “critical conversion behaviours” (activities that most of your leads do prior to becoming customers). These might be things like signing up for a free trial or requesting a sales demo. A thorough analysis of your Google Analytics data should make these defining behaviours obvious.  Mark your critical conversion behaviours with a star so you can give them appropriate emphasis when it’s time to assign points to rules.

Assigning points

For most companies a straightforward 1-to-100-point model will be enough. For B2B lead generation, a company might want to use a thousand-digit ranking, giving small, medium and large businesses a 1, 2 and 3 first digit. So, a lead with a score of 3062 would be a large company with a 62-point score. Another technique is to define the three (or more) minimum criteria – “table stakes” – to be considered eligible as a lead. If you assign 100 points to each of these, and decide they need to have at least three of these essential characteristics to qualify, then a lead with a score of 435 would go into the pool, but one with a score of 282 would not. This ensures that a bad lead never makes its way to the sales team, no matter how many of the behaviours rules they trigger.

Reassess lead scoring criteria regularly

Setting up a sales lead scoring system can be as simple, or as complicated, as you can get, given your marketing data. You’ll have to tweak it as you use it and check it against conversions regularly to ensure you have set up a system that works. Remember: no matter how qualified a lead is, some will never convert. So be prepared to see some inconsistencies when reviewing results.

We know all about lead scoring because we’ve implemented it for dozens of our B2B clients in all kinds of industries. Learn more about how 360 Leads can help you put together a winning lead scoring system, by contacting us.

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B2B Lead Generation Channel Strategy

Truths for a successful LinkedIn sales campaign

We know a thing, or hundreds, about successful LinkedIn lead generation campaigns. Why hundreds? We shipped 720 free coffee mugs to IT professionals across Canada who engaged with our LinkedIn campaign for Toshiba, as part of a larger LinkedIn sales lead generation campaign.

Now what do free coffee mugs have to do with successful B2B lead generation? While there are many things, there are three absolutes that we know can drive a highly successful LinkedIn lead generation campaign. So successful, that LinkedIn wrote a case study about it.

#1 Develop a key customer insight for your LinkedIn lead generation campaign

IT professionals have a tough job. The users they support need their gear to work, and when it doesn’t, you know who they will call. Yes, they have a two-hour battery life for a three-hour presentation and can’t find their charger. Our strategy was to make the IT professional the ‘unsung hero’ dealing with IT challenges and inviting them to engage with Toshiba to make their life easier. LinkedIn display ads, Sponsored Updates and Sponsored InMail were all part of the LinkedIn lead generation strategy based on the key insight of ‘unsung hero’.

#2 Create some creative that breaks through

Snoresville creative puts people to sleep. IT people, like most people, have a sense of humor. And with a sometimes no-win job, a sense of fun is the antidote for a tough day. Creative lines like “Mr. Awesome IT Guy” or “World’s #1 IT Gal” supported a free mug give-away that drove people to a landing page. One creative execution had two display ads connected in a fashion where the animation poured coffee into the free mug. The point of the free mug was for users to self identify they received the mug and for Toshiba sales reps to visit the IT professional to deliver the mug and have an IT conversation. You can view some of the LinkedIn creative here.

#3 Target the right audience

Mass LinkedIn marketing campaigns aren’t right for most products, with Toshiba being no different. Promoting business laptops and filling the sales pipeline with qualified B2B sales leads means targeting IT professionals in mid-market and larger companies. Why sell one notebook when you could sell three thousand with a standardized chip set? LinkedIn offers an ability to be quite targeted in reaching the right audience by geography, job title and as granular as industry or company. Do you know who your ideal customer is? Toshiba did and our campaigns, LinkedIn and beyond, put a sales rep in front of them.

People often comment that LinkedIn is great for brand awareness but wonder if it generates qualified B2B sales leads. As a top B2B sales lead generation company, we can tell you that LinkedIn has its strengths; the key is how to take advantage of the platform to deliver maximum lead generation results. Great customer insights, killer creative and pin-point targeting are the best ways to utilize LinkedIn.

On Toshiba, how did we do?

  • We booked hundreds of sales meetings with qualified sales prospects
  • Delivered LinkedIn leads at a lesser cost than some other channels
  • Sponsored InMail CTR 2X LinkedIn average
  • LinkedIn campaign drove 7% of total qualified leads during the campaign periods

For more information on how 360 Leads can help drive inbound sales leads from LinkedIn or other digital media, please contact us. We can help grow your business.

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B2B Lead Generation Uncategorized

Marketing KPIs for B2B sales growth

Do you know whether your marketing is working for your B2B sales growth efforts? Whether it’s improving, or it needs assistance? Without a set of key performance indicators (KPIs) it’s impossible to gauge the effectiveness of your marketing efforts and determine whether you might need some lead generation assistance to boost B2B sales.

KPIs exist in every industry, but some are more revealing than others. Not all KPIs will have applicability to B2B sales and lead generation, and old school metrics like brand awareness or impressions aren’t as helpful as they were once thought to be. Here are some of the essential marketing KPIs that will give you clarity on whether your current marketing and lead generation efforts are paying off.

B2B Sales Growth

After all is said and done, the best way to measure the effectiveness of marketing is by seeing a concurrent uptick in sales growth. As you look at the trend, think of which marketing efforts have been applied in that period, and you will start to get a sense of which marketing tactics are contributing to growth and which aren’t moving the needle. Sales figures are something to share with the entire team so that all employees, regardless of their role, have the same goal: to drive sales skyward.

Cost of Customer Acquisition (COCA)

This is the cost of convincing a prospective customer to buy a product or service from you. For example, if you spent $100,000 on sales and marketing in a month and this resulted in 10 purchases, then your COCA would be $10,000. As your marketing strategy improves, this number should go down and each customer should cost less to acquire.

Lifetime Value of a Customer (LTV)

While it’s not an exact science, the lifetime value of a customer is worth figuring out. Add up all sales your average customer has initiated over the course of your relationship and use this equation to find out the LTV of your average customer: revenue x gross margin x average # of repeat purchases.

Sales Team Response Time

Because the quality of a B2B sales lead degrades over time, sales response times are incredibly important. Yet, according to a study of the effect of sales response time on lead close rates, B2B leads typically receive shockingly slow response rates from sales teams, much slower than B2C leads. Perhaps there is less urgency in the world of B2B, but the fact is, the longer the gap between receiving a sales lead and responding to it, the less likely the sale will close. In fact, the study showed that “firms that tried to contact potential customers within an hour of receiving a query were nearly seven times as likely to qualify the lead (defined as having a meaningful conversation with a key decision maker) as those that tried to contact the customer even an hour later—and more than 60 times as likely as companies that waited 24 hours or longer.” So start tracking response times and try to close that gap; it’ll pay off.

Email Marketing KPIs

Your email marketing strategy is one of the key lifelines to your customers so it’s essential you know how well each and every email has done. The most relevant marketing KPIs are delivery rate, unsubscribe rate, the open rate, the click-through rate, the conversion rate and the number of forwards or shares it got. By tracking these and improving on them with each new piece of email, you will be cultivating your audience.

Social Media

The reach and engagement on your social media platforms is of vital importance because this is how you both distribute content and interact with potential customers. Certain platforms might not be where you get the best traction. Find out which platforms make sense for your audience and where you can build a following and concentrate on those.

Remember, if you don’t measure it, you can’t improve it. And if you are the marketing point person on your team, you need to be on top of it. Start with a few basic marketing KPIs and add to them as you become more proficient at assembling reports. We can help you get started.

At 360 Leads we use our expertise to deliver a constant B2B sales growth pipeline of qualified new business opportunities to our clients. If you’d like to chat about how we can turbocharge your current marketing efforts, contact us.

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B2B Lead Generation Sales Team Performance

Are you / is your team B2B sales ready?

You can lead a horse to water, but can you make it drink? That’s essentially what a sales team is up against when they are given B2B sales leads to convert. They might be used to dealing with pre-existing customers, but for a business to grow, sales teams must convince new prospects to buy from them. Are they ready to sell?

If your sales team needs some inspiration, here are some tips from seasoned sales pros that can help get conversion rates up.

Lead the conversation with a compelling story a buyer can relate to

The ability to create a narrative or a storyline is one of the greatest ways to improve lead conversion. Everyone has a story and is living it every day. A potential client feels more motivated to act when they can see how their story aligns with the story they are told by the sales representative. Mastering the art of creating a compelling narrative has the power to improve your sales overnight.

Stay true to yourself and your company and be honest about whether your offer aligns with the customer’s needs

Tell your prospects directly when you don’t have something they seek. When you depart from the hard sell, the client will be pleasantly surprised, and might give you more time as a result. It’s a way of developing trust that will help you improve your close percentages in the long run. In the meantime, you must be prepared to walk away from a sales deal knowing the time is not right.

To increase B2B sales lead conversions, ask pre-qualifying questions at the outset

This is essential, so your sales person isn’t wasting her time, or the buyer’s time. Sales reps often habitually skip over this critical step in the process and waste valuable time working leads that were never going to turn into sales. Honing the skill of asking questions to determine the quality of the lead ultimately enhances lead conversion and sales.

Do your research and be knowledgeable about the customer’s business/company

Show them what their world will look like after they’ve purchased your product or service. They will appreciate imagining the difference this purchase will make for their company and will be more inclined to buy. Plus, they could turn into evangelists for your own company if the sale makes them look good in their own manager’s eyes.

Following-up and persistence is key

While a sales rep must maximize the opportunity present in every meeting, it’s not always possible to close after the first conversation. Creating a schedule to get back to a sales lead is helpful so that they feel valued while sales keeps their eye on the prize.

You can have the most compelling marketing campaign in a century, but without well-trained B2B sales people picking up the baton and being able to deliver the right sales pitch to the right sales lead, marketing efforts could be wasted. If you’d like to learn how 360 Leads blends sales and marketing into a synergistic package for our clients, please give us a call.

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B2B Lead Generation Insights and Ideas

Inbound and outbound marketing for sales lead generation

No doubt you’ve heard about inbound and outbound marketing for sales lead generation. They’re often viewed as choices that a marketer makes when deciding how to generate B2B sales leads. Instead of thinking about this as a choice, it’s better to view them as complementary forces. Combining inbound and outbound forces can create a more cohesive – and powerful – marketing strategy.

Inbound: Content that attracts sales leads

Inbound marketing is a passive way of marketing, in which you wait for the customer to come to you, through content related to the solutions that your company can provide. These potential customers are out information shopping, and they likely have the budget to buy. However, they might not have heard of you, hence the importance of creating appealing content to draw them in.

Inbound: Make it relevant and diverse

Creating a diversity of content – from blog posts to white papers to podcasts on hot topics – helps strengthen your reputation and the likelihood these interested readers become buyers. Yet inbound won’t necessarily get the whole job done, since it also draws people who are not necessarily qualified leads. It also takes time and patience as you attract an audience. In other words, inbound marketing shouldn’t be the only strategy that you deploy.

Outbound: Requires a deft touch

Outbound marketing is traditional marketing which actively reaches out to customers where they are most likely to be and appeals to them directly, through advertising, direct mail or phone calls. These methods draw prospects into the sales funnel while clearly and overtly positioning your products and services. Outbound requires that you find customers who aren’t necessarily looking for your products or services – in fact they may know nothing about it at all.  But once they’re presented with your offering, they can see a need.

Outbound: The interruption factor

Outbound marketing enables you to choose your target audience, (something inbound is notoriously bad at doing), but there is a risk. It can feel intrusive to buyers who are used to dictating when, where and how they educate themselves. Since outbound techniques tend to be focused on the immediate, i.e. the call from a sales rep, the banner ad, or the webinar currently taking place, one way to lessen the interruption factor is by combining it with inbound marketing techniques to familiarize buyers with your company before more direct contact is made.

Combining inbound and outbound marketing for sales lead generation

The smartest marketers combine both approaches in their B2B sales strategies. Here are a few examples of how you can mesh inbound and outbound marketing activities into a cohesive sales and marketing strategy:

  • After meeting with a client, instead of the usual thank you note, why not send a link to a piece of content related to what you and the prospect discussed?
  • Create a customized email blast for your clients, prospects, colleagues to let them know about your blog and ask them to subscribe to it. This is a great example of inbound and outbound working together and can be used to promote any type of content like video, e-books, and white papers.
  • Advertisements, email marketing and hard copy mailers are all examples of traditional outbound marketing tactics that can be effective when done correctly. But don’t let ads or hard copy mailers “stand alone.” Make them even more effective with calls to action. Include an effective CTA to draw prospects to the content you’ve already created through your inbound marketing strategies. Ask them to subscribe to your blog, follow you on Facebook, download an e-book, or watch a video.

Ultimately it’s a combination of both inbound and outbound strategies – along with qualifying digital sales leads properly – that increase the odds of closing a deal. If you’d like to learn how we blend inbound and outbound marketing techniques to create customized lead generation solutions for our clients, please give us a call.

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B2B Lead Generation

Make your B2B sales lead generation campaign perform

Being active and engaging with new leads and prospects is a good way to fill your sales pipeline and garner new business, but how often are you measuring the performance of your B2B sales lead generation campaign?

There are several metrics to track in lead generation. The key is to map out your goals and prioritize the data that’s most relevant to your business objectives. Peter Drucker, author and modern business management guru is well known for this simple quote: “If you can’t measure it, you can’t improve it.” Whether it is to create solidify more face to face appointments, captures email or contact information, or drive traffic to your website, tactics in lead generation can be measured and give you what you need to enhance, improve and bolster your results.

Determine your metrics

Creating a B2B sales lead generation campaign can feel complicated on its own, but with the right objective and strategy can yield great results. What do these results look like? Are they hitting targets? Can they be improved? These are all questions that metrics can tell you. While the goals of each business will determine what to measure, there are a few common and self-explanatory ones that can easily applied in almost any B2B space when it comes to the performance of your lead generation campaign:

  1. Click-through Rate (CTR) – Determining the performance of a CTA
  2. Conversion Rate – Dividing total number of leads by total number of conversions
  3. Time to Conversion – The length of time it takes to turn an “audience member” into a paying customer.
  4. Average Close Rate – Determining the quality of your leads.

When delving deeper into more details as they pertain to marketing, cost and sales, the metrics are similar, looking at ROI, Cost Per Impression (CPI) or Cost Per Click (CPC), Customer Lifetime Value, Sales Qualified Leads etc. Whether your campaign has digital and non-digital elements (i.e. direct mail, telesales) metrics can be applied to actions to ensure you’re headed in the right direction.

Get help from a B2B sales lead generation company

Partnering with the right lead generation company will not only help with campaign strategies to grow leads and achieve results, it also leaves very little to chance – launching a campaign blindly hoping one or two tactics will yield conversions. At 360 Leads, we offer our clients support in securing new customers and increasing customer loyalty, but we also provide market analysis, insight-driven strategy and support in measuring campaigns. We also work with clients to optimize their sales force with training and lead funnel management. Essentially, a reputable lead generation company will do just that – generate qualified sales all while helping you track your result and provide analysis and reporting along the way. See how 360 Leads generated quality sales leads for our client Gray Tools.

What does success look like to you?

There have been many iterations of the phrase “you don’t know where you’re going until you know where you’ve been”. When applied in the sales world, metrics and analysis are not a burden, but rather stepping stones to lead your team to the next best step. Keeping consistent with reporting provides the feedback and data needed to tweak campaigns, tactics and strategy. Measuring the performance of your lead generation campaign is essentially mapping out your success.

Learn more about how we can help you boost your B2B sales campaign by contacting us.