RockAnnandGroup

So let me tell you a story.

Once upon a time, I started a BLOG and started writing about my views and experiences as a B2B sales and marketing junkie. After 30+ years in the field, first 20+ working with a number of software companies in every aspect of field operations and then 10+ as a consultant, I felt I had something to say so I did what every warm blooded marketer feels they need to do and started cranking out CONTENT. First a web site, then BLOG posts with a few choice podcasts and webinars. A couple of plum conferences in front of live audiences; interviews for trade pub articles and some articles and white papers of my own. Lots of arguments and opinions supported by facts and stats and use cases.

But what is the end game of all this content creation and publication? Followers? Likes? Retweets? In my case, it’s all about building trust with my audience and to find buyers and influencers who believe what I believe. God knows we have created mountains of content and information to supposedly make it easier for buyers to buy. Buyers should be able to defend their decisions as intelligent and authoritative, but are they?

But Are We Telling Good Stories?

It depends on how you measure and from whose perspective … yours or your buyer? My head, or my “thinking brain” says yes, but my gut, or my “emotional brain” says no. I had been feeling this way for a while, then I read a fascinating new book and attended the author’s workshop last week. It was a “eureka” moment for me.

The author is Mike Bosworth, legendary creator of Solution Selling and Customer-Centric Selling. The book is entitled, “What Great Salespeople Do: The Science of Selling Through Emotional Connection and the Power of Story”. Now the importance of storytelling is not new for sellers and marketers. But when we look at how it influences buyer behavior and why it works, we see more clearly that there is a right way and wrong way to tell stories.

What’s the Secret to Good Storytelling?

The secret lies in making an emotional connection with buyers. Why? Because as Bosworth and co-author Ben Zoldan (Customer-Centric Selling) so expertly explain, “breakthroughs in neuroscience have determined that people don’t make decision solely on the basis of logic … in fact, emotions play the dominant role in most decision-making processes.”

I’ve always known this point to be true – it probably has been one of the keys to my success in B2B sales and marketing. However, reading the book and going through the Story Leaders workshop last week provided a field-tested framework for how to construct and deliver stories to build trust and rapport with buyers. I like frameworks. I use them all the time in my practice and have relied on them throughout my career. They feed my (sometimes overly) analytical personality … thirsting for information, facts and figures, logic, process-driven. Very left-brain though … the “thinking” brain.

But frameworks must be based on beliefs and points-of-view that prove out to be true. And ignoring the importance of establishing rapport may help explain why all of the sales enablement training and methodology programs have not raised the performance of those it was targeted to improve – the 80% of the sales force that only delivered 20% of the sales. Bosworth and Zoldan point out that recent research shows that the old 80/20 rule – where 20% of salespeople deliver 80% of the sales – is more like 87-13. The gap has gotten worse between the best and the rest of the pack. Ouch!

Marketers Need to Apply the Story Telling Teachings to Build Trust

I believe that successful content marketing strategies are about quality, not quantity. We need to tell our stories with authenticity and real passion in order to cut through the information overload that buyers are experiencing. Most company stories on web sites lack characters and people to make them real and believable – they don’t draw me in emotionally. What I like about Bosworth and Zoldan’s approach is that they actually teach you how to make your ideas, beliefs and experiences “storiable” using a proven story structure. Their approach shows marketers, as well as salespeople how to develop stories that overcomes buyer skepticism to connect with the emotional brain where trust is formed.

So that’s my story today. What’s yours?

As part of our series of guest posts, this article was contributed by my colleague Rick Schwartz of Sales Addiction.
Henry

Ancient History

Going back to the mid 1900s we’ve been automating everything. Manufacturing began using machines to do what people used to do and in some cases, the people were put out of work.

My first personal experience with automation happened 1979-ish. I was a customer service rep for what used to be called “The Phone Company.” Part of our job was answering inquiries about customer bills. Once the customer asked a question, we’d put them on hold, go over to the file cabinets, look for and (sometimes) find the copy of their bill.

Then someone had the idea that we all get computer monitors on our desk which could access the company’s mainframe. We’d be able to view the bill more quickly and provide better, more accurate service.

This was fine except that no one in the office had really every seen a computer screen and keyboard before. Some of us thought it was a really cool thing and we adapted. Some folks who had been on the job for many years couldn’t or wouldn’t give it a chance. Eventually those folks left their jobs.

More Recently

n the late 90s it was Sales Force Automation. Sometimes it was called a Contact Management system or a Customer Relationship Management system. It didn’t matter. The upshot was that sales people had to learn a new way to do their jobs. They were told it would help them sell more stuff. They didn’t believe it. All they saw was learning to do a new thing for management – not to mention that it was mostly about making them more accountable for their daily work.

There are tons of other examples, but you get the point. Today, looking back at any of these new ideas, most workers can’t imagine doing their jobs without the aid of various types of automation.

So what’s up with Marketing Automation?

It’s presented as something that will help close more deals and make more money. The challenge is that it contains that four letter word – Auto(mation).

Adding a new process (automated or not) into the sales world is seen as something that is disruptive – and frankly it is. At the end of the day, recent metrics and case studies show that adopting MA can be a big boon to those chasing sales results. In most cases however, a sales department is nowhere near the end of the day when a new idea is presented.

For now, I’ll leave the solutions to smarter souls than me. If you have any ideas, please comment.

The Rock Annand Group has hit the conference speaking circuit again after a (too long) hiatus. My 3 favorite cities to visit for conferences are San Francisco, New York and Boston and I hit all 3 in August and September, starting with New York two weeks ago for the CRM Evolution 2011 annual event, hosted by CRM guru Paul Greenberg.

While this conference is not one of the biggies when compared to Dreamforce 2011 (I’ll be there next week) or the Inbound Marketing Summit and Hubspot User Group-HUGS in Boston (I’ll be there too mid-September), I will say it is no less relevant and substantive. There were some great speakers and panel discussions about what’s working and what’s not in CRM and social CRM with some impressive companies telling their stories.

So what’s behind the provocative title?
Well it comes from something my old boss Dave Simbari,  currently CEO of SupplyPro, always says when talking about sales and marketing execution. “Henry, don’t get wrapped around the axle, or boil the ocean when you do this. Keep it simple and follow through and things will turn out fine.”

Translation: most of the pack is too busy trying to define the perfect strategy or building the perfect program and never get anything done and fail to execute. They are blind, so by focusing on the basics, what I call the fundamentals, you can develop and execute sales and marketing programs, supported by CRM, that deliver results even a CEO with ADHD will love.

A Social Business is Just GOOD Business
That simple message could be found in countless sessions the week of August 8th. Even though the conference organizers attempted to dress things up by putting the word “social” in front of the somewhat tired and old CRM acronym, the presenters stayed away from the hype and buzz of social media as something new to try and stuck with the reality of the social phenomenon.

This point was best brought home by R “Ray”  Wang, principle analyst and CEO at Constellation Research, when he said, “a social business is just GOOD business.” What Ray was saying is that being social has always been the key to building relationships and winning business. Businesses and buyers have always conducted conversations about their problems and how they plan to solve them. The difference now vs 5-10 years ago is that they are carrying on their conversations online with peers in a myriad of communities and discussion forums. The question is whether today’s businesses want to listen and participate in those conversations.

Listen and Observe More, Talk Less
The reality is the vast majority of businesses ARE blind (and deaf) to what’s being said about them and their competitors online. Tell me what sales rep would not want to know what their best customers and prospects have said about them or their competitors before their next sales call?

Today’s CRM solutions and the multitude of sales enablement plug-ins allow companies to know so much more about their target audience then ever before. Countless examples were shared (Volvo Trucks) showing how B2B marketers have opened the eyes and ears of sales and executives with more qualified deals.

Ray Wang’s 5 Rules to Adopt to Become More Social
My question is why companies continue to turn a blind eye to what’s happening in their buyers’ world? As Ray Wang  so correctly stated, “We are using disruptive technologies at home and we need to figure out how to bring them into the enterprise. How can IT become more social?” Ray went on to identify 5 rules that businesses need to adopt to become more social:

• Trust is the new currency.
• Social is a cultural shift for the enterprise.
• Building community is the goal.
• Person-to-person (P2P) is today’s reality – not B2B or B2C – frictionless commerce is where its at.
• A social business is just GOOD business.

Amen Ray. And I don’t mean Ray Charles .

Listen to our 8/11/11 Webcast:

 Create a Winning Lead Strategy in 90 Days

I had the pleasure of participating in the Focus.com B2B Marketing Week last week, a collection of webinars and round table panels that brought together the top experts in their fields to discuss the state of B2B marketing. Nine sessions covering many important topics in B2B marketing with lots of talking heads – marketing consultants, vendors and industry pundits. This is the third Focus round table I have done this year and I must say they are great way to hear what others are experiencing in the market across the country.

Our round table entitled “B2B Marketing 3.0: What’s Next for Marketers?” centered on answering these questions:

• Definition of B2B Marketing 2.0
• Definition of B2B Marketing 3.0. What prompted the change?
• How many marketers are ready for 3.0?
• What is the biggest impediment to making the shift, skills or tools?
• What is the one thing you would recommend every marketer focus on the rest of 2011?

Mac McConnell, partner/founder of BlueBird Strategies moderated and I was joined by colleagues Joe Zuccaro, President and CEO of Allinio, Greg Ott, CMO of Demandbase and Matt West, Sr Director Marketing of Genius.

You can listen to the full 45 minute round table here. But let me give you my quick take on these questions:

Definition of B2B Marketing 2.0

• Marketers begin to realize that awareness does not drive buyer behavior anymore. PR campaigns and traditional advertising don’t work the same way anymore.
• Moving from mostly outbound campaigns that “broadcast” the company’s primary go-to-market message to outreach that promotes having a conversation with target audiences.
• Focusing on presenting market problems and recommended solutions rather than products and services.
• Marketers turn to digital marketing as the preferred approach to connect directly with buyers and customers.

Definition of B2B Marketing 3.0: What’s Prompting the Change?

• The rise of social networking and buyer reliance and focus on what the community thinks about various problems and how best to solve them.
• The need to treat sales and marketing as a “service” to customers and buyers. Providing value-based information that helps buyers make more informed decisions.
• The need for marketing to be revenue focused, not just developing leads at the top of the funnel. What’s marketing’s contribution to the pipeline?
• Marketers trying to make sense of their target markets and the data that is sitting in all those data stores in the enterprise. What are the most profitable markets/customers? Which markets should be exploited more/less?

How Many Marketers are Ready for 3.0?
Not nearly enough. Here are some recent research findings that show just how far marketers have to go before they can make the transition:

• In a 2011 Fournaise Marketing Group study, 73% of CEO’s stated that “marketers lack business credibility and are not the business growth generators they should be”.
• At the Sirius Decisions 2011 Summit when asked if their marketing people had the right skill set to succeed only 1.1% responded with a yes.
• A 2010 Bulldog Solutions – Frost & Sullivan Survey showed that 44% of marketing automation owners stated lack of people/skills as a limiting success factor

What is the Biggest Impediment to Making the Shift?
Clearly there is a significant skills gap. We don’t need yet ANOTHER CRM, Email Marketing or Marketing Automation tool set. The industry lacks a certification program for B2B marketers that addresses the core disciplines within marketing operations. This represents a big opportunity for what Paul Dunay predicted for the “rise of the marketing technologist”.

What is the One Thing Marketers Should Focus on Now?
It’s not too early to look ahead to 2012 plans and what marketers need to do to lay the foundation for success. It’s extremely important that marketers review existing programs and prioritize those that have the greatest chance of producing results that impact the sales pipeline and closed business. With less than 6 months left in 2011, CEOs and VPs of Sales are gearing up to close as much business as possible before year-end.

• How much has marketing committed to those quarter and year-end numbers?
• How much revenue contribution have you made thus far?
• How much more contribution can you make in the next 5+ months?

Times ticking so let’s get focused and see how much better we can be in the months ahead. Listen to the entire round table here. What’s your take?

Last month, I participated in a FOCUS round table call hosted by Craig Rosenberg (the Funnelholic ) where the focus was on defining marketing automation success and how to get there. (Listen to the recorded round table here.)

In looking at how to define success, I highlighted 4 lessons learned and 5 keys to success.

Let’s start with the lessons learned from the past 3-4 years:

1. That if sales and executive management does not see and experience tangible results that are fundamentally different from before the project started, then the program initiative support from top management and the sales team will sour.
2. The skill sets required by the marketing team are different and more demanding than originally thought or anticipated. The concepts and processes are challenging for the current crop of B2B marketers. We need to think like our buyer – outside-in vs inside-out thinking. Focus on buyer needs and problems, not your products. Build relationships and conduct conversations vs “broadcasting” and promoting the product. Think like a publisher and develop relevant content for buyers. Develop analytical skills to identify and spot trends in target markets/customers
3. Lead nurturing/management requires thought, planning, patience and constant testing to determine what works and what does not work.
4. To quote Jeff Ernst of Forrester, “the full benefits are hidden behind old company habits.” ((4/26/11 research report, B2B Marketers Must Better Prepare for Marketing Automation. It takes 2 years or more for companies to move beyond simple lead scoring and drip campaigns to multi-touch lead nurturing that use the much more powerful and effective behavioral-based targeting capabilities.

The five (5) keys to successful MA project are:

1. B2B marketers must figure out exactly HOW marketing automation will optimize and augment the current marketing plan. The project plan and business case must clearly articulate how the investment in automation ensures a client acquisition strategy and plan that delivers better results (over 12-24 months) than one without that investment.
2. Marketing leadership must focus on developing a strong and supportive relationship with sales leadership and the top “A” reps. Remember that marketing automation is all about “sales enablement”, so make sure from the beginning that the top reps and sales team understands EXACTLY how automation will make them more money.
3. Develop and execute a campaign in the 1st 90 days that delivers a significant WIN for the sales team. Sales and executives suffer from ADHD when it comes to results.
4. Good users of Sales Force Automation realize the benefits of MA earlier and to a greater extent than bad SFA users. If Salesforce.com is broken, fix it before you try to put in MA or you will regret it.
5. Marketing’s #1 goal is to serve sales – they are your #1 customer so make sure you meet often to gain agreement on lead definitions, prospect qualification rules, attributes of ideal client and business/market targets. Assume nothing and over communicate, especially in the first 90-120 days.

Lots to think about, but after doing these projects for over 12 years, the ability to succeed has gotten harder not easier. Under promise and over deliver to overcome the ADHD factor and your marketing automation project may live to see year 2 and beyond.

Listen to the entire audio of the roundtable here.

Henry Bruce
@hebruce

I am pleased to announce that Marketing Automation Monday for Boston is no longer “TBA”. The date is set for January 31st from 6 to 8:30 pm and will take place in downtown Boston across the street from the Museum of Fine Arts. Here is the registration link to reserve your spot.

What is Marketing Automation Monday?
What is Marketing Automation Monday you say? You can get caught up by reading these prior posts last month on the one I led in NYC:

Marketing Automation Monday Comes to NYC
Lead Nurturing: Tips from Marketing Automation Monday in NYC

These meet-ups are the brain child of Jep Castelein and the LinkedIn Group, Marketing Automation Association, he co-founded last year with Saad Hameed. These face-to-face gatherings are addressing a big need for B2B marketers – providing a networking forum where practices, experiences and stories can be shared among the vast community of professionals striving to execute winning demand generation programs and processes.

Background for Boston Meet-up
What has me excited about this one is I found several other passionate marketers like me who have signed on for the Marketing Automation Monday cause. They come from very different backgrounds, representing constituents and followers that span numerous industries as well as the Boston-based academia. They are Ann Grackin of Chain Link Research and Dean Larry Carr of the College of Professional and Continuing Education at Wentworth Institute of Technology.

Ann is a longtime colleague I first met back in the mid-90′s when she worked for the industry research firm Benchmarking Partners, founded by another analyst veteran, Ted Rybeck. I was running marketing at the time for the Swedish Supply Chain software company Industri-Matematik Int’l (IMI) when we met. What I will always remember of our first encounter was that Ann was the only person I knew who had implemented SAP R-3 AND i2 and lived to talk about it!! The best part of that story was how she laughed with each anecdote she shared of the experience. At IMI, SAP was our #1 competitor and i2 was fast becoming another rival, so you can imagine what I did with those anecdotes in our active deals. ‘Nuff said.

On the academia side, WIT recently retooled their continuing education program with the hiring in 2010 of Dean Larry Carr. Dean Carr has collaborated with ChainLink Research and recently announced a new professional certificate program called 21st Century Demand and Supply Chain Management. I have just started to dig into the details of this program, but know from experience that anything involving Ann Grackin will be high quality and worth considering. In the interest of creating stronger connections with the business community and professionals in the greater Boston area, Dean Carr has agreed to host the Boston meet-ups to be a part of the networking and the learning process that is the driver for Marketing Automation Monday across the country

Focus on Lead Nurturing
Our topic next Monday is Lead Nurturing and with the enthusiasm of our hosts and many Beantown marketing colleagues, we expect a large turnout and lively conversation. You can register at this link now.  Our downtown location at 550 Huntington Avenue, in the Faculty Dining Room at WIT’s Beatty Hall, makes attending convenient via public transportation or by car (parking will be available I’m told).

Who should attend? We encourage all marketing professionals from executive level to those hands-on with program execution to attend. We also encourage sales professionals that want to learn more about how marketing automation drives better opportunities into their pipelines to attend as well. We can handle 40-50 people so bring a colleague on Monday the 31st starting at 6pm. We will have refreshments and snacks.

We hope to see you there.

Related posts:

Marketing Automation Monday Comes to NYC

Lead nurturing: Tips form Marketing Automation Monday in NYC

Marketing Automation Association LinkedIn Group

In part 1 of this series, we noted from Sirius Decisions’ recent research that the market leading companies, using the same number of leads are able to

• Close over 4 times the number of deals as “average” firms
• Close twice as many deals as “good” firms.

These are eye-popping numbers to consider, especially with economic times that demand that businesses make every opportunity count.

What does “Market Leading” Mean?
The market leading firms are adept at aligning their people around marketing-to-sales processes enabled with CRM and Marketing Automation tools that optimize their efforts and maximize target audience reach. The best B2B marketing organizations are almost exclusively focused on lead quality. They emphasize buyer behavior and compare to well defined buyer personas in order to build targeted campaigns that move prospects through the buyer stages. They have metrics in place that clearly show management and sales the impact of demand generation programs on the pipeline, closed deals and corporate revenue.  Marketing and sales are tightly aligned in terms of people interaction, lead flow process and the use of technology to support every aspect of client acquisition and retention. They practice Lean process improvement principles to eliminate waste in marketing and sales resources and optimize every dollar of sales and marketing spend.

What Should “Good” Firms Focus on to Become “Market Leading”?
In part 3 of the series, we detailed the steps required to move from “average” to “good” performance. With those practices in place, we can now turn our attention to the following programs to implement in order to achieve marketing leading lead management status

• Establish lead quality teams consisting of marketing, inside sales, sales admin and possibly the sales team and conduct weekly lead hand-off reviews.
• Develop comprehensive buyer personas that profile key buyer types such as end-user, influencer, buyer/decision-maker and executive (CXOs).
• Develop progressive profiling programs that deepen the intelligence for each buyer type in your CRM/Marketing Automation database. Utilize prospecting tools such as Cardbrowser, Hoovers, Netprospex, Zoominfo, etc to automate the process of keeping contact information fresh and complete.
• Create comprehensive content maps for the key buyer types and for each buyer stage:

Awareness > Inquiry > Consideration > Purchase.

After mapping existing content, create and/or re-purpose content to fill any gaps. Ensure that content consists of whitepapers, webinars, short articles, case studies, videos (2-3 minutes) and podcasts (5-7 minutes).

• Develop lead nurturing campaigns that segment by buyer type and buyer stage. Deliver personalized value propositions by these segments to deepen engagement and optimize buyer stage conversions.
• Develop metrics based on corporate objectives such as revenue growth and customer retention. Use marketing dashboards and reports to present marketing’s contribution to revenue and pipeline to senior management on a monthly/quarterly basis.

Comments from others on the earlier installment in this lead nurturing series have highlighted other resources and approaches to consider. I will wrap things up with a final post that links to these resources.

Related Posts:

Lead Nurturing is Coming of Age Part 3: Moving from Average to Good

Lead Nurturing is Coming of Age Part 1: Making the Case for 2011 Marketing Plans

Lead Nurturing is Coming of Age Part 2: Where do I Start?

Case Study: Lead Nurturing Through Thought Leadership Content

Marketing Automation Monday came to NYC on December 6^th (a date that will live in Patriots infamy in the demolition of the Jets !!). We had a great turnout with 15 opting in to share their ideas and best practices on the topic of lead nurturing and drip campaigns. Below is a quick review of what was discussed.

Attendee Company Profile
First off, I was struck by how many of the meetup attendees come from start-up companies. Two companies in fact have yet to launch while all are new to the use of marketing automation and lead nurturing.

With that in mind, I started the discussion by focusing on some questions that marketers need to ask themselves as they begin to develop their lead nurturing programs:

• What tactics are the best for getting our messages to your target audience, both decision-makers and influencers?
• How do we stay engaged with our audience as they move through their stages of the buy cycle?
• How do we conduct the “conversation” to stay relevant to the buyer’s and build credibility and trust so they see our company as a thought leader?
• What content and offers will result in a positive conversion when our target audience is ready to buy?

The Need for Content
These questions had the group talking about the challenge of having engaging content to serve up to prospects. Several companies use research papers from analysts firms such as Gartner to send out on issues that prospects have shown prior interest, while webinars is a frequent tactic for others. In the case of webinars, one company found their registrations had dropped significantly. In response they experimented with creating 4-5 part series, sometimes with a fee for registration. Registrations did in fact improve.

In most cases, companies are actually sitting on significant quantities of relevant content, usually in paper-form or buried in web sites. In many cases, the content is not readily consumable by your target audience. It is either too long (45 minute webinar, 5-10 page white paper) or only available in one format (lengthy PDFs). Re-purposing the content into shorter briefs (350-400 words) or using 2-3 minute video casts focused on one key idea at a time can be more effective in getting busy decision-makers to opt-in. One company send out individual email and phone follow ups to prospects using that technique.

Buyer Profiles and Personas
Several companies reported success in developing buyer profiles that they had mapped out for each of the buyer types that they target. None of the companies had actually mapped these buyer profiles to content for purposes of automated drip campaigns as of yet, but most are working towards that goal. The active development of profiles is an important part of successful nurturing programs.

One indicates that their inside business development group nurtures the old fashion way by calling (65% of the time) and emailing (35% of the time) to provide collected articles and research reports that they want their prospects to be aware of. Their approach is more of a service, then a promotional appeal, but very labor intensive. They had found that their group email practices were being received as SPAM and blocked, hence the use of individual email and calling.

Campaign Approaches: How to Get Started
Given the newness of the group to the actual practice of lead nurturing, especially with Marketing Automation tools, we reviewed an approach that helps B2B marketers get started and gain traction early on. The approach focuses on demonstrating thought leadership to your target audience; the key point being that, initially it does not require much more than 1 or 2 well written white papers, ideally from a known industry thought leader. The idea is that over a 90 day period, the nurture campaign takes the theme of the white paper and promotes the issue in month 1 as an available download, then in month 2 delivered as a webcast (ideally with the thought leader) and finally in month 3 promotes both in one outbound email.

What’s Next for MA Monday in NYC?
We discussed how often to meet and what topics for future sessions. For now we will look to have NYC meetups on a quarterly schedule – late February/early March.

Requested topics are (in no particular order):

• Leveraging social media in Marketing Automation
• Analytics, metrics and reporting
• Managing the marketing-to-sales lead process
• CRM integration and sales enablement

You can see what was discussed at the two meetups in November (SF and Palo Alto) on the topic of lead nurturing in this blog post by Jep Castelein.

Other Resources:
For those who attended in NYC on 12/6 and others who are interested for future meetups, all are advised to join the Marketing Automation Association Group on LinkedIn. Here you will be able to keep up on happenings of the various meetups taking place across the country.

Please let us know what you liked about our 1^st session and what can be done to make future meetings more valuable. Comments below are welcomed. I encourage all to spread the word about Marketing Automation Monday. Stay tuned for more.

Colleague and fellow lead management  expert Jep Castelein, founder of Leadsloth, started last month a “meetup” discussion group that focuses on Marketing Automation and Lead Management. Called Marketing Automation Monday, the goal of this periodic event is three-fold: learn more about Marketing Automation, get to know other Marketing Automation professionals, and have fun doing so.

Since Jep is based in the Bay area, I responded to see if we could bring his concept to the Northeast. So I volunteered to host one in New York City and possibly for Boston. Here is what we have scheduled thus far:

• New York City, December 6th, info and registration.
• Boston, To be determined

Our agenda for NYC is set with an informal panel discussion on drip marketing. We will kickoff at 6pm with networking, refreshments and snacks.  At 6:30pm we’ll start an informal panel discussion about drip marketing in which several people will present their campaigns. Questions from the audience are encouraged. And after that we’ll have some more time for networking. Any ideas are welcome.

The Event

The goal of this event is three-fold: learn more about Marketing Automation, get to know other Marketing Automation professionals, and have fun doing so. You can read more at Jep’s original blog post. We’ll cover topics around Marketing Automation, including:

• Lead Management
• Lead Nurturing
• Revenue Performance Management
• Demand Generation
• B2B Email Marketing

The meetups will focus on best practices in Marketing Automation, not so much on implementation details. It is not specific to any Marketing Automation vendor, nor is this event sponsored by any vendors. However, vendors and consultants are welcome to attend, but no selling please.

Jep has lead two meetups thus far in SF and Palo Alto, with great success. Here is Jep’s recap.

Join the LinkedIn Group

There is a group that was started by Saad Hameed a while back, the Marketing Automation Association LinkedIn Group. All future events will be announced via this Group, so if you want to be kept up to date, please register for this group.

Your Ideas Please

Because this is the first time we have organized this event, we’ll need lots of input on the ideal format. We’re curious to hear your input. Feel free to leave a comment or email us (jep at leadsloth dot com).

Over four years ago, Laura Ramos, when she was part of Forrester’s fantastic  B2B Marketing analyst group wrote that:

“B2B marketers can no longer afford to emphasize lead volume over lead quality. This practice reduces sales efficiency, increases costs, and fuels the gap between sales and marketing.”

Boy I could not agree more with Laura. At Forrester, she helped developed a maturity model that outlined 4 levels of evolution that B2B marketers attain in moving from average to market leading. After numerous marketing automation projects, I have adapted the maturity model to 3 levels that I label average, good and best. In this post, we will look at the profile of the “average” marketing organization and what steps do they need to follow to become “good”.

Start with an Honest Assessment
But let’s be honest here. Moving from a culture focused on quantity to one that practices the tenants of quality and lead management is not something that happens over night or even in a year. So what’s a B2B marketing leadership to do in our instant gratification business culture, where CEOs and sales organizations want marketing programs to produce results in weeks and months, not quarters and years?

It starts with B2B marketers making an honest assessment of how they capture, qualify, nurture, route and measure leads. Most companies I work with are at best average in their lead management processes.

Let’s Examine What it Means to be “Average”
The average B2B marketing organizations are almost exclusively focused on lead quantity. As a result they have a “one and done” mindset when it comes to lead generation campaigns and events. No sooner are they done with an event or email blast, then they are onto the next. Marketing has no standard lead management processes defined as they pass basically raw leads to sales.

Note, Marketing Sherpa recently reported that 8 out of 10 marketers pass raw leads to sales with no further qualification.

All of these “hand-raisers” who are not sales-ready (70-80% of initial inquiries) are ignored and never touched again by sales or marketing. Check out some of the other stats that are seen at average companies in Part 1 of this series.

What Should You Focus on to Become “Good”?
The following steps should be prioritized and will take anywhere from 6-12 months to implement and perfect:

• Develop a common lead quality definition that is agreed to by sales. Add qualification questions to web site registration pages, telesales scripts, email campaigns and any other process that interacts with new and returning prospect visitors.
• Close the loop between marketing and sales to ensure efficient lead handoff processes and eliminate bottlenecks. Establish initial lead scoring and routing rules for determining sales-ready leads.
• Develop automated lead nurturing programs with multiple themes tied to the problem(s) you solve. See Part 2 of this series for how to set this up.
• Capture and publish metrics that show the impact of the lead nurturing programs of sales success and sales pipeline development.
• Develop permission-based practices focused on data hygiene that keep contact information up-to-date.

• Implement one of the various Marketing Automation applications (from Eloqua, Marketo, Silverpop and others) to successfully enable these practices. For more analysis on the Marketing Automation players, check out David Raab’s assessment research and blog.

In our next installment of the Lead Nurturing series, we will discuss the steps needed to move from “good” to “best”.

Related Posts:

Lead Nurturing is Coming of Age Part 1: Making the Case for 2011 Marketing Plans

Lead Nurturing is Coming of Age Part 2: Where do I Start?

Case Study: Lead Nurturing Through Thought Leadership Content

Lead Nurturing is Coming of Age Part 4: Moving From Good to Best