Sowing the Seeds to Success - Nurture Marketing for Existing and New Customers Jennifer Culbertson The Partner Marketing Group September 21, 2009 Agenda • Nurture Marketing Defined • Importance of Nurture Marketing • Getting Started • Putting Plan in Place • Open Discussion Nurture Marketing Defined • Terminology: – Drip marketing – Relationship marketing • Defined: – Initiating a conversation with prospects and customers over period of time – Growing relationships by sending unique and valued messages to prospects and customers on a regular basis – Leave a positive imprint in their mind until they're ready to buy! Feedback • Do you have a nurture marketing program? • What types of activities? • What successes? Nurture Marketing Is NOT • Sending out an e-newsletter periodically • Randomly calling leads every six weeks to see if they are ready to buy • Blasting your entire database with a new case study • Offering content that promotes your company’s products and services and does not take into account your prospects’ interests Why is Nurturing Important? • Longer sales cycles, increased competition, ever-changing business climate – need to be there when they are ready to buy • Forget about the one-off effort! According to the Direct Marketing Association, a prospect will need to see/hear your message 3 times to recognize you and a minimum of 9 times to make a sale • Nurture marketing process leads to: – Better qualified leads – Higher close ratios – Stronger sales pipeline – Shorter-than-average sales cycles Did you know? • Up to 95 percent of prospects on your Web site are there to research and are not ready to talk • As many as 70 percent of them will eventually buy a product from you — or your competitors • Longer term leads represent 77% of potential sales • 30-45% of leads not considered “viable opportunities” by sales become sales-ready within 12 months • Nurtured leads produce a 20 percent increase in sales opportunities versus non-nurtured leads Source: Lead Generation for Complex Sale and The Definitive Guide to Lead Nurturing, Marketo Invest in Relationships • Building a relationship with a prospect is the same as with any long-term relationship — you can’t force someone to commit (to a purchase) • But you cannot afford to lose individuals because their willingness to buy doesn’t match your readiness to sell • Spend more time marketing to and building relationships with the people Buying Has Changed • B2B buying process has fundamentally changed • Prospects are spending more time on the Web doing independent research, obtaining information from their peers and other third parties • B2B buyers are now in control • Changes the role of marketing – Old Way - Lead generation and moving on – New Way - Marketers must synchronize their marketing efforts and provide prospects quality content throughout the sales cycle and do it in consistent and timely manner Example Distinction in Marketing 2008 Winner RMI Corporation A firm believer in the benefits of nurture marketing “People aren’t just going to go out and purchase software on a whim. They need to spend time looking at different solution providers and evaluating the choices they have. Nurture marketing keeps our name in front of them, so when the time comes for them to switch systems, they’ll think of us and come back to us.” ~ Greg Bradley, Marketing Specialist, RMI Corporation Response Rates Metrics and Typical Response Rates • The results, in order of response rate percentages: – Telemarketing: 5.78% – Dimensional mail: 2.3% – Direct mail: 1.88% – Email: 1.12% – Inserts: 0.45% – Magazine: 0.13% – Radio: 0.1% – Newspaper: 0.09% Direct Marketing Association (DMA) , www.the-dma.org (B-to-B and B-to-C) Multiple Touch Response Rates • Once you start incorporating multiple touches, your response rates increase: – Telemarketing typically produces a 1% to 5% response rate – Direct mail produces 1% to 2% response, with dimensional mail yielding the strongest results – Email typically lands another 1% From the Partner Business Network 2008 Multiple Ways to Respond • Multiple response options increase your response rate: – Fill out a Web form – Return a business-reply card – Respond by email – Call a toll-free number Planning Planning • Creating consistency • Messaging based on who targeting • Value-based offers • Setting the rhythm: – Plan should include: • Target List • Messaging and Content • Frequency and Execution • Measurement Target List Target List • Understand and profile who you want to nurture: • What makes up a good customer for your company? • What are the characteristics? – Industry focus, company size, geography, revenue, etc. • What problems does my prospect need to overcome each day? • What is the prospect’s top priority right now? • Build a list of Prospects, Leads, Customers • Prospect = no formal communication or has not responded to your company in the past • Lead = Prospective customer who has responded to your communication in past and/or is someone in pipeline • Customer = existing or former customers who have done business with your company Target List • Don’t have a list? Or need to supplement list? – www.hoovers.com – (General B-to-B lists) – www.zapdata.com – (General B-to-B lists) – www.jigsaw.com – (General business) • Promo pricing - http://www.mspartnerdirect.com/action/microsoft/site/librar y/CampaignView?campaignID=1277&txtSource=JigSaw – www.leadintelligence.com – (Competitive product lists – small to mid-market) – www.hartehanks.com - (Competitive product lists – Enterprise) Segmenting the List • Segment your list into A, B and C prospects and customers • Deliver communication and offers applicable to each Prospects E-Newsletter Direct Mail Email Dimensional Telemarketing Sales Contact Mail Prospect A Yes Yes Yes Yes Yes Prospect B Yes Yes Yes Yes Prospect C Yes Yes Yes Customers Customer A Yes Yes Yes Yes Yes Customer B Yes Yes Yes Yes Customer C Yes Yes Yes Messaging & Content Message Creation • Know your audience and ask yourself – How can we build credibility? – How can we show that our products/services will help them achieve goals? – How can we differentiate ourselves? – How can we become a trusted advisor/expert to prospects and customers? • Integrate “pain” messaging: – Getting More Organized to Save Time and Money: Do more with reduced time, people, and finances; improve teamwork and collaboration; and stay connected to the business while away from the office. – Managing Cash Flow: Make your finance, operations, and other business processes more efficient. Gain better insight into what drives revenues and expenses, so you can improve your financial position and make more informed decisions about where to best invest resources. – Finding and Retaining Customers: Find customers more cost-effectively, close deals faster, and improve customer satisfaction. – Reducing IT Costs and Risks: Stay focused on running the business—not wasting time and money dealing with network disruptions or fighting fires. Delivering the Message • We all consume media differently – Email, telemarketing, direct mail – Need to stand-out • Use a common theme to break through the clutter and get your message across – Choose a theme that’s: • Fun • Topical • Engaging • Memorable! Example: Memorable Series • Message - Focus on how CRM can help you be more productive and get ahead in your organization • Consistency – monthly communication • Offer – case study, white paper, webcast, book • Types of communication – direct mail, email, newsletter, phone Example: Direct Mail/Lumpy Mailer • Message - Focus on how we can help you improve customer satisfaction • Offer – white paper, case study, gift • Consistency – multi-touch over 4 months • Types of communication – direct mail, email, newsletter, phone Distinction in Marketing Winner Referral Program CAL Business Solutions – Anya Ciecierski, Marketing Manager • Had good referrals but didn’t encourage or market to referrals • Identified Top 10 referral sources (Vendors, Centers of Influence – CPAs, other Microsoft partners) • 12-month multi-touch campaign included: • Personalized letters, emails, dimensional direct mail • Thank you letter and gift for referrals • $250 gift card for any closed business • Educational offers • Tips & Tricks • Face-to-face meetings • Integrated social networking through LinkedIn Example: Dimensional Mailer Lumpy Mailer Business letter Content is King - Offers • Need to make sure you offer something of value or educational • Establishes you as an expert and is non-threatening including: – Articles – Case Studies – Press Releases – Whitepapers – Webinars/Events – E-Books/How-To’s – Research Findings /Analyst Reports – Polls/Surveys/Quiz – Podcasts – Microsoft Incentives Frequency & Execution of Plan Frequency of Communication • How often is enough or too much? – Weekly? Monthly? Bi-monthly? – When it’s relevant – Resources, budget, capacity and ability to deliver Prospect Nurturing Schedule • Setting the rhythm…move prospects along Timing (every 30 days) Action Contact #1 Introductory call with follow-up email (Get permission/verify contact information) Contact #2 Email with offer educational report/article Contact #3 Direct mail with white paper offer– ROI of ERP Contact #4 Email newsletter Contact #5 Email and link to relevant case study or podcast Contact #6 Direct mail invite to webcast with follow-up phone call Contact #7 Follow-up touch base phone call - reminder Contact #8 Email newsletter Contact #9 Phone call to touch base and prospect interested in meeting with you! Customer Nurturing Schedule Timing (every 30 days) Action Contact #1 Thank you letter/gift and phone call Contact #2 Email with offer to sign up for newsletter and training opportunity Contact #3 Direct mail with white paper offer/report Contact #4 Email newsletter Contact #5 Email and link to relevant podcast or article Contact #6 Direct mail invite to customer briefing event and follow- up phone call Contact #7 Follow-up touch base phone call - reminder Contact #8 Email newsletter Contact #9 Phone call to set-up lunch meeting to discuss possible project need Executing the Plan • Execution includes: – Following a plan – Resources and funding to keep momentum – Multiple tactics (direct mail, email, phone) – Multiple offers to move your audience along in the sales cycle Social Networking • How do you integrate into nurture plan? – Communicate that you are active on various sites such as LinkedIn, Face Book, Twitter, etc. and invite them to join your social networking sites – Start-up a group and ask them to join, see who else is connected in their network and get an introduction – Participate in online discussions (answer questions/provide opinions) – Post company events and happenings on sites Monitor and Measure Monitor and Analyze • Monitor and analyze – Track each phase of plan and response – can’t improve what you don’t measure! • # of responses and qualified leads • # of closes • Number of downloads by offer • Number of appointments made • Track your web traffic • Measure ROI – Be flexible and make changes as necessary – Ensure continued support and funding to continue nurturing Nurture Marketing Checklist Think long-term – anything worthwhile takes hard work and persistence Know who you want to target and what they are interested in Build relationships that are personal and respectful Offer information that is educational Consistency and follow-up is key Measure and track Action Items • Review target lists, begin segmenting • 3 offers they might be interested in receiving • Start thinking of theme/messages • Outline a plan and budget • Begin executing, building relationships and planting those seeds to success! Other Resources • Distinction in Marketing case studies https://mbs.microsoft.com/partnersource/communities/marketing/resour ces/marketingcreativeresources/BestPractices.htm • Microsoft Dynamics Principles of Marketing - Best Practices of Relationship Marketing https://mbs.microsoft.com/partnersource/communities/marketing/marke tingreadiness/MsDyPrincipleMktgWebSem.htm • Partner Marketing Center – Microsoft Partner Network site https://partner.microsoft.com/global/salesmarketingsection/smmarketing center • Microsoft Small Business Center http://www.microsoft.com/smallbusiness/resources/marketing/small- business-marketing.aspx#Marketing,advertisingbranding The Partner Marketing Group • Marketing consulting group with expertise working with Microsoft Dynamics partner organizations to drive new marketing opportunities and results • Sign up for our e-newsletter and we’ll donate $1 to worthy cause! • Go to www.thepartnermarketinggroup.com to get copy of presentation Jennifer Culbertson: email@example.com Website: www.thepartnermarketinggroup.com 40 THANK YOU Please complete your evaluation.
Pages to are hidden for
"Nurture Marketing for - Keynote Title.ppt"Please download to view full document