Coffee for Closers | Leads360 Sales & Marketing Blog 

Our founder and SVP Jeff Solomon, wrote a great article for CRMBuyer, entitled “B2B vs. B2C CRM: What’s the Diff?” I suggest checking it out, as Jeff highlights some interesting points.

See below for an excerpt, or click here to read the full article.

“CRM solutions have a long history of helping B2B marketers achieve greater ROI from their leads. Yet for companies that sell their products and services direct to consumers, CRM solutions frequently miss the mark. A quick Google (Nasdaq: GOOG) search for CRM helps prove this: The search returns plenty of B2B products, but sifting through the results to find solutions designed specifically for the B2C sale is like finding a needle in a haystack.”

Lindsey Vonn won the Gold Medal in downhill skiing on Wednesday. While she and her competitors skied, commentators gave their analysis of each skier’s strategy, their mistakes, and how viable of a contender each skier was showing herself to be on that given run. During their analysis of Vonn’s run, they mentioned that she uses men’s skis. Men’s skis gave her a longer ‘wheel base’ that made it easier to maintain and control her momentum over what had become a fairly choppy course. This, some have suggested, is an unfair advantage. But men’s skis can be used by any competitor. In fact, Maria Riesch, also competing, tried using men’s skis in some of her training runs but did not end up competing with them. Why? Because she could not handle them.

Some competitors win because they are able to use tools that their competitors can’t handle.

Lead Management Software is the same kind of tool. It is used by those companies who have a desire to step up, right now, and perform. Lead Management Software is uniquely capable of putting the right sales agent in touch with the right prospect within minutes of the prospects inquiry. Companies whose way of doing business involves managing leads by email or with a CRM are choosing to do business more slowly. They are effectively making the choice to get in line behind their competitors who are using Lead Management Software.

Lead Management Software was built around the goals of getting the lead first, and maintaining contact with them if they are not quick closers. Companies that know how important it is to be first are recognizing Lead Management Software as an increasingly essential tool in any competitive market.

Some competitors lose because they don’t use the tools their competitors do.

Yesterday we held a great webinar entitled “Where Good CRMs Go Bad: The Missing Link to Converting Leads into Sales,” and I encourage everyone to check it out here. We felt that the LMS/CRM dynamic was an important topic to cover as the relationship can be quite confusing. Whether we are talking about Internet Leads or any other sort of business, in the age of overkill, there is something to be said about specialized solutions, and this webinar goes into great detail explaining the benefits.

Technology is supposed to make complicated problems and processes easier, but it instead most people will agree that sometimes technology replaces one complicated problem with another more expensive one. Don’t get us wrong, we don’t hate CRM’s, but  instead feel that in most cases a Lead Management System can do a better job than a CRM or significantly enhance a CRM that has already been implemented.

A CRM by virtue is exactly what the acronym stands for, a Customer Relationship Manager. Granted, a CRM does do a good job of managing relationships, but how do you get those relationships to manage in the first place? When we pose this question to CRM advocates, we usually get a few seconds of “dead airwaves” if you know what I mean… The point is, CRMs are not the best way to achieve more business, and in fact, they can actually hinder the process. For the delicate sales process, the heart of your business, you need a specialized tool designed to do one thing well. The one thing WE do well is close more business.

We have always advocated the importance of partnerships and cooperation when it comes to business, and so we want to take this opportunity to congratulate one of our most important partners, QuinStreet. Today marks an important milestone in the history of the company, as they are now trading on Nasdaq after a successful IPO. We look forward to sharing continued success well into the future and are proud to be a partner with a company like Quinstreet.

Every day we help improve ROI on leads, so we figured that we’d help you improve your ROI on poker (even if you’re not very good). That’s why we are sponsoring a jackpot to be paid randomly to one lucky participant in the 2nd Annual Leadscon Poker Tournament. Get there on time and throw your business card in for a chance to get paid. Now you can win, even when you (painfully) lose.

Hopefully we’ll see you at the poker tables and at one of the panels or sessions that we’re participating in. If not be sure to check back here and at Leadcritic.com for all the news from Leadscon.

If you have not already registered for the Leadscon poker tournament, reserve your seat today!

Details:

* Location: Mirage Poker Room

* Time: February 23rd, 9pm sharp

* Duration: 4 hours

* Entry Fee: $70.00

* 1 hour rebuy opportunities: $60.00

* Winnings: 1st 45%, 2nd 25%, 3rd 15% and 4th 10%, 5th 5%

(Details are subject to change)

BUY YOUR TICKETS HERE

ABC. Always Be Closing. Alec Baldwin’s character, Blake, said it in the speech from Glengarry Glen Ross that this blog takes its title from. But what does it mean really? How can we Always Be Closing?

Taken at face value, Blake’s comment was pure braggadocio. The assumption being that his keen super powered sales mind was able to discern every action that leads to a close, and every action that does not. If, like him, you can see that, simply do that which will lead to a close, and do not that which will not. But this part of his “pep talk” was hardly any help at all. If his audience had his ability, they would have his sales record, and they would not need a pep talk.

That was a different time. And a different type of sales than most of us are engaged in. Always Be Closing takes on a less mythical meaning in the age of the internet. With strategic, relevant, and most importantly automated communication to your leads, you can Always Be Closing by keeping your name in front of customers until the moment when they are ready to buy.  Research shows that as much as 40%-50% of leads will close eventually. Those leads which don’t close right away are too often passed over by salespersons in search of a quick close. Does this make sense, when nurturing these leads will lead to a close almost half the time? Is the only thing standing between you closing these leads a lead management solution with smart email capabilities?

Always Be Closing still means close the deal you have on the phone right now. But to close as many as 50% of your leads, Always Be Nurturing might be even more profitable advice.

With Super Bowl Sunday upon us, I ask you to consider the following: A closed sale is the same thing as a completed touchdown pass.

As a salesperson, you are the quarterback and you are looking for a receiver to catch the pass. You know how to sell, you know your product. You have the ball, and you’re good. The big problem that you have suddenly discovered is that none of your buyers are running their routes.

Come to think of it, there are no routes, and there was no play called, because there was no huddle. All those prospects, running whatever direction suits them, seem to be unaware of your game. Unaware of the ball, unaware of the end zone, unaware of the quarterback. You wonder why your receivers are oblivious to you.

If you can interrupt one of them and get them on the phone, you can explain all this to them to complete the pass and close the sale. You are pretty persuasive, after all.

But suddenly there is one guy, standing in the end zone, wide open, his eyes locked on you.

Do you know who this guy is?  He’s the guy who has just requested information about your product online. Literally 60 seconds ago, he filled out a form asking for information because he wants to buy. You don’t have to explain anything to this guy, because he has worked it out on his own. He is in the right place at the right time with his mind focused on buying what you are selling.

But the right place and the right time come together for a brief window. Another couple seconds and this buyer will wander out of the end zone and get focused on something other than wanting what you are selling.

Your skills as a salesperson equip you to connect with some of these less obvious wins and guide them into the end zone. But if you are not taking advantage of the technologies that can help you instantly connect with the buyer who is looking for you, then the buyer will be standing in the end zone, wide open, wondering why the quarterback is oblivious to him.

Last week I mentioned that we (the marketing department) are doing some cultivation marketing, and I would like to tell you how we are taking on a specific challenge.

While this particular “cultivation marketing” idea was still in the conceptual stages, we outlined two goals that we set out to accomplish. The first goal was to reach out to our recently signed customer base via direct mail and make sure everything is running smoothly for them.  After doing some research, we were amazed to find that the majority of negative feedback and complaints from software and computer users in general, could be directly attributed to pilot (user) error. We looked at that statistic and asked ourselves, “What if we promoted our help resources (beyond what we already do) to the extent that we could swiftly resolve these user error problems, (and thus customer frustration)?”, “What would happen to our retention and referral numbers?”   To accomplish this, we thought that we would send them a dedicated piece of direct mail that would clearly outline the steps necessary to get the help they needed. This piece would clearly and concisely include our support email, phone, help documentation, etc.  We know we have an excellent client services department, so we are hoping that a little extra nudge can make a big splash.

The second goal we set out to accomplish was simply to get more referrals. Like any other business, we benefit greatly from word of mouth referrals, so instead of waiting around for the situation to arise, why not simply ask for them? To achieve this, we included a pre-stamped comment card that asked if they knew anyone who would benefit from our software. We offer incentives for referrals, so we figure that this was a great way to stimulate some new business.

Why direct mail over an email?

The simple answer is because it works in this case. There is something to be said about packaging and the benefit of a personalized touch. We truly think that making a customer or prospect feel their worth is extremely important. To ensure this, I asked for every single piece of direct mail to be hand signed by our CEO. Now some people may not notice the signature, and others would say it is a waste of time, but in our opinion, having an opportunity to let our customers know that we really care with this simple notion is priceless.  In our particular case, we wanted our client base to receive a card that they could put next to their desk detailing all the available ways to get help. An email with this same content would simply just not be effective for our objective.

I illustrated our thought process and the details of this project because I truly am an advocate of nurturing your client base after the fact. Obliviously not everyone is in the software business, but regardless, I think that there is something to be learned here when doing your own cultivation marketing.  Whether you decide to use direct mail, email, or phone, make sure that you are bringing something of value to the current client, and something that will help encourage high retention, and of course, referrals.

We’ve talked about the great importance of personal attention, nurturing, and follow up before the sale, but what about the importance after the sale?

In the fast paced environment of sales, usually we are focused on closing the next big deal, generating and purchasing the best leads, and constantly trying to outdo ourselves. This is a good practice to follow, but it is still vital to make sure that people who we have already closed, (the ones paying our bills) are completely happy, especially when there is a chance for a resale or a referral. This notion seems pretty straight forward, but let’s face it, investing time and money on things that can’t really show a blatant quantifiable return, is tough to swallow.

At Leads360 we recently undertook the task of doing some “cultivation marketing,” a term I coined that really encompassed what our ultimate goal was. For a second, imagine that you are a farmer who grows a type of plant. You first have to prepare the soil, plant the seed, and the nurture it to get it to grow. Once the seed turns into that plant though, there is much to be done. You have to make sure weeds don’t overtake it, insects don’t destroy it, and that is gets adequate water and light. Finally after all your hard work, the plant bears fruit. I am positive that you have heard this tired analogy to the sales process before, but bear with me as I take it a bit further. What happens after you have harvested all the fruit? Do you neglect the plant and let it die, now that you have enjoyed what it has yielded you? The farmer understands that although the plant may be initially finished with providing, if maintained, more fruit can be taken next year, and more importantly the plant can spread its seeds ultimately creating new plants. Going back to the sales process, this means that “cultivating” the existing sale can help secure another sale from them in the future, and increase your chances of that company referring you to a friend.

Next week, I’ll explain how Leads360 is taking on this challenge, and talk about the important considerations that should be taken when committing to cultivation marketing.

Integrated Scoring from TARGUSinfo

Leads360 is pleased to announce our partnership with TARGUSinfo, the industry leader in real time lead verification and scoring services. Using On-Demand Lead Verification can significantly increase the contactability and conversions of online leads by automatically verifying and enhancing leads prior to distribution.

How Does it Work?

TARGUSinfo will instantly indicate any linkage between the name, address and phone of each lead and provide you with actionable information on whether to accept or reject that lead. Ultimately, you can distinguish between the good and bad leads and drive more conversions. Clients can also enhance their leads by appending alternate phone numbers or addresses, household level demographics and household property data.

You can leverage TARGUSinfo’s lead verification services automatically when new leads arrive or trigger using an action. Here are a few use cases:

1. Automatically verify and prioritize calls – When new leads arrive they will be automatically given a “verified” or “not verified” category which can be used to prioritize call queues. You can create a custom “My Report” that will immediately list “verified” leads at the top of your view leads list. You can also automatically post them to your dialer if you have one.
2. Route “verified” leads to top sales people – Create a distribution program that automatically assigns “Verified” leads to your best agents and set short recycle times to ensure calls are made quickly.
3. Improve quality from your lead providers – Setup an XML trigger to report unverified leads to your lead sources in real-time. Use this information to request credits and help lead providers refine their marketing to provide better leads.
4. Find hidden opportunities from existing leads – Run a batch to post old leads to TARGUSInfo and have contact information appended. Prioritize the newly verified leads in your nurture call campaigns.