A Case Study:
Nearly two years ago, Gateway Business Development Group created a promotional video to display on our homepage. The video was professionally produced and explained what we do, how we execute business on a daily basis, a self-proclamation of how great we are.
Since the video has been posted, Gateway has had two to three companies inquire about our services after watching the video. That’s roughly one inquiry every 182 days.
As we grow and change, so do our marketing tactics.
A little over a week ago, we posted a new video on our Facebook and YouTube pages. It was simple- just Jason Bahnak, a Partner at Gateway, getting interviewed by Rise to the Top’s David Siteman Garland. Jason candidly discussed what Gateway can offer companies, and a few words of advice. The interview was very laid back and gave viewers an opportunity to put a face to the company name.
Since the video has hit the web, it’s gotten over 20,000 views, and Gateway has received 5 inquiries has 4 proposals for new business. That’s roughly one inquiry every 2 days.
Prospects are looking for raw, honest information. They’re not looking for a ten minutes sales pitch about the great things you’ve done, they just want to know how you can help them make more money.
For business owners, creating web videos is a win-win situation. The cost of creating these “interview-style” videos won’t blow your budget, and the reach is very extensive. Not only will they humanize your company, they can be fed through a variety of outlets that will, in turn, improve your search engine ranking. You have the ability to strategically place your video on networks and platforms and tailor the message to the network’s demographic.
With the help of a company that specializes in social media, your web video can be marketed in the most efficient way.
Take a look at our newest video blog for Jason’s full take on web videos.
Social Media sure has created a buzz for itself, ironically using social media to do so in many cases. There is tons of information about social media, yet I often get asked the simple questions like “What is social media” and “How or why should my company use it?” Alternatively, traditional B2B lead generation seems simple. You find some targets, pick up the phone and see who’s interested in what you offer. Does simple mean ineffective in today’s business environment? Not at all.
Let me try to kill 3 birds with one stone with an analogy about social media and explain (1) what it is, (2) why you should participate and (3) what to expect:
Pretend the internet does not exist. Pretend there is a large networking event coming up, such as a cocktail hour, and your company needs to make a BIG impression, as you need new business. You also know that there will be some great prospects attending this event, Presidents and Owners of large companies that can make your year if they do business with your company. These prospects will be talking about business, discussing needs, perhaps asking some questions of each other, requesting advice, and generally opening the door for your company to present its solutions.
Now imagine the best possible way your company could be represented in this environment to impress prospects and generate opportunities. Would you send your “closer” to this event, someone who doesn’t take “no” for an answer and will ask prospects the equivalent of “what can I do to get you into this car today?” Will you send your engineer, who has the most detailed knowledge of your process, but also has trouble talking with people? Neither.
Here’s how I imagine your best presence: You send someone who communicates well, but listens before they jump into a conversation. This person circles the room, first gaining an understanding of what prospects are discussing. When they encounter someone who has a general question relating to your industry, rather than try and “close” them, your representative politely answers their question, asking nothing in return, and hands them a business card in the event they have further questions. When your rep encounters a prospect with an immediate need, they eloquently describe how your company has helped other companies like theirs, and extends an invitation to present your solution at a later time. When your rep meets someone who doesn’t express either a need or a question, they communicate with that prospect on a personal level, trying to get to know them rather than appear to have an agenda. Best of all, if a prospect asks another event attendee if they know anyone who can help with a specific issue, that person points to your rep and says, “He’s provided us with some great advice and he knows what he’s talking about, I’d ask him.”
What I’ve described above is, in essence, social media marketing. Social media marketing is communicating with peers on a one-on-one level, but using the Internet to do so. It’s not “selling”, it’s “talking”.
You should participate because the conversations I described above are happening by the thousands, daily, by prospects who you want to attract. It’s worth mentioning that, like my analogy, these online conversations are not “sales conversations” by nature. They’re conversations involving the “asking for” and “providing of” advice…for free.
You should expect to generate interest in your company…not close business quickly. Much like marriage, dating comes first, and before that, friendships, and before that, communication.
B2B lead generation on the other hand is the more direct approach. In the example of the networking event, it’s as if you’re only jumping on the “immediate need” conversations. It is the quickest, most direct path to new opportunities. Where social media takes time, and is geared toward developing relationships, B2B lead generation (prospecting) tries to “cut to the chase” and convert leads into sales. It’s a focused effort on new business…finding the low-hanging fruit. B2B lead generation is a direct tactical approach to new business…it doesn’t beat around the bush.
When budgeting for either social media or B2B lead generation, consider your immediate needs. If they’re primarily to build relationships or interest, social media works great. If your need is to drive new business NOW, consider B2B prospecting. It’s more direct, and less “conversational”.
I hope this post has been helpful to those wondering where to allocate resources and what to make of this “social media revolution”. For any further questions about either topic, feel free to visit our blog at www.gatewaybizdev.com/blog.
A Dedicated Account Manager
In order to successfully connect with a prospect, you need one Account Manager dedicated to developing a business-to-business relationship with them.
Outsourcing your B2B lead generation to a firm that uses dedicated Account Managers will dramatically increase the effectiveness of the campaign by developing one-on-one relationships with prospects.
Using multiple sales representatives to contact the same prospect runs the risk of losing potential partnerships, as the prospect will get the impression they’re being passed around your organization with little concern about them personally.
Collaterals That Stand Out B2B decision makers aren’t always available by phone, and if they are they may not have time to speak with you.
It is imperative to consistently maintain contact with prospects. In cases where the decision maker is unavailable, you must have relevant collaterals on hand [such as videos, emails, and quality direct mail pieces] that can be delivered by a dedicated account manager through a variety of formats.
Prospects are receiving information from many of your competitors, which means your company’s collaterals must stand out to cut through the clutter. Standard html emails and voicemails can get buried amongst your competitor’s collaterals.
Effective Nurture Program Outsourcing to a firm with effective nurture programs is essential in advancing any area of B2B lead generation. It allows a continuous and structured flow of communication, but should vary based on a prospect’s disposition.
Historically, 85%-95% of outgoing phone calls will not result in a live connect, and those who are reached may not yet be in the market for new business-to-business relationships. No matter the situation, even if the prospect won’t be in the buying cycle for 6 months, the nurturing program must communicate to the prospect accordingly.
The Account Manager will be delivering messages to the prospect to maintain awareness over an extended period of time.Outsourcing to a firm who tailors each nurture program according to the prospect’s disposition ensures your company will be in the forefront of the prospect’s mind when they enter the buying cycle.
1) Make Sure Your Content is Clear and Concise
Posting basic facts about your company wont grab the attention of decision makers in the buying cycle, you need to have an angle.
-Post Helpful Content
When people are in the search phase of the buying cycle, they will search online for a company that fits their needs for a B2B partnership. In order catch and reel other companies in, the information on your blog needs to be useful, relevant, and helpful.
-Be Original
Nobody likes a “copycat.” Compile and post unique information relevant to your company. This will, in turn, differentiate your company from others and will ensure optimal B2B lead generation.
2) Make Sure Your Posts Are Consistent
Consistency is key to attracting subscribers. They will sign up to receive future posts if they’ve seen consistently good content. Constant posting will result in improved search engine ranks. Companies pay thousands to search engine optimization forms to increase their ranks. However, much of the same ranking improvements can be realized by posting regularly. Search engines like new, fresh, relevant content and reward sites by moving them toward the top. 3)Utilize Your Social Media Outlets to Share Your Post:
Blogs can be fed to sites like Facebook and Twitter, and shared at sites such as Digg, Delicious, and Reddit. Feeding your blog to multiple outlets will leave opportunities for increased B2B lead generation and social networking.
-Don’t Put All Your Eggs In One Basket [Or Your Company's Website]
When companies are in the buying cycle, they’re not going to go directly to company websites. Often times, companies will research online through blogs and forums for advice from their peers on which company will fit their needs the best.
4)Pinpoint Your Market by Listening to What Potential Clients Need Be sure to decipher where your target markets are in order to feed your blog to the correct social media outlet. For successful B2B lead generation, you must reach them through the correct outlet. Some of your readers may utilize LinkedIn more than Twitter, and some may use forums rather than Facebook.
-Know Your Competition
It is important to give yourself some time to read other company’s blogs. This will give you an idea of what tactics are and are not working, and will help to make you one step ahead of the competition.
5) Make Sure All Eyes Are on Your Company: Utilize Your Keywords Keywords help “categorize” your content and ensure people looking for such topics find your message. Every outbound piece of content from your organization should contain the words and phrases most likely to attract a decision maker. These words will be what decision makers’ type into social sites to search for information, and what search engines will look for amongst the millions of websites and blogs. If your chosen words match those that decision makers use to find solutions, then you’re headed in the right direction.
Although it may not be your company’s style to “tweet”, Facebook, or blog, you need to think about making yourself accessible to other companies who may benefit from your business, and you theirs.
Inbound marketing is a style of marketing that focuses on getting found by customers. And today, Social Media is a leading tool for inbound marketing.
Why Change Now? Adapting to the variations in marketing tactics doesn’t mean you have to give up your current marketing strategy, it just means you need to be available through a few social media outlets.
Social media makes your company accessible online gives other companies and opportunity to seek you for your service.
1)Improving B2B Relationships
B2B marketing makes up a significant portion of overall online marketing activity. Roughly one-third of all commercial searches on Google are business to business related; more than 50 percent of Google’s target advertisers are B2B, and almost 38 percent of Yahoo’s target advertisements are B2B related. Being available online helps your company to extend its lines of communication and stay in close contact with current and potential clients. Using online videos, pictures, and event calendars can help engage possible B2B relationships.
2) Increasing Visibility When a potential buyers are in the market for a new product, they will often post a question online asking their peers which products are the best. You need to make sure that when that time comes, your name is mentioned first. You never know where your customers are online; LinkedIn, Twitter, Facebook, etc. Companies who start or participate in these discussions in an informative and helpful manner get instant credibility and a foot-in-the-door with decision makers.
3) Achieving Maximum ROI Adapting to inbound marketing will not only increase your visibility online, it will generate more leads for your business. Getting exposure early in the buying cycle will increase your networking opportunities and profitability.
You Don’t Have To Do It Alone…
Social media is always changing so consider having aspecialistmaintain your sites and work with your company to help determine key steps and strategies. Your specialist can also help you stay ahead of the competition. Specialists can help you:
1) Maintain your social sites.
2) Find relevant conversations pertaining to your company or industry.
3) Author content for your blog and share with online communities.
Many people jump on Google to find the answer to a specific question or to prospect business relationships. Being a part of several key social media sites will help to increase your search engine optimization thus making you more visible online.
It’s time to take the plunge and begin social media marketing to take your business to new heights.
This blog was created to share our thoughts on B2B customer development in the hopes that this information will be useful for organizations working toward increasing new sales opportunities.
