Bottom-up marketing

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Bottom-up marketing

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Closers (sales and CSRs) are in a better position to recognize a specific customer need — the company can meet — and help us marketers craft a marketing strategy to solve the problem. When closers......

Closers (sales and CSRs) are in a better position to recognize a specific customer need — the company can meet — and help us marketers craft a marketing strategy to solve the problem. When closers are involved in marketing, they are much more likely to provide the type of follow-up they know from experience is needed to close the sale.

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  • 1. Tweet: #startwithfollowup Looking for a new approach? Turn the sales funnel upside down — start with the follow-up. BOTTOM UP!
  • 2. Tweet: #startwithfollowup Conversion happens when you solve the customer’s problem with your solution.
  • 3. Tweet: #startwithfollowup The closers (sales and CSRs) are in a better position to recognize a specific customer need — the company can meet — and help us marketers craft a marketing strategy to solve the problem. Why Bottom Up?
  • 4. Tweet: #startwithfollowup 50% of marketing leads are not followed up by closers (sales/CSRs).
  • 5. Tweet: #startwithfollowup Why do you think that is?
  • 6. Tweet: #startwithfollowup Often closers feels disassociated or worse, alienated, by marketing.
  • 7. Tweet: #startwithfollowup Closers believe marketing sends leads that have not been properly qualified.
  • 8. Tweet: #startwithfollowup Over time, the relationship between marketing and closers deteriorates.
  • 9. Tweet: #startwithfollowup As a result, closers may expend less and less effort — believing marketing is passing them impossible-to-close, unqualified leads.
  • 10. Tweet: #startwithfollowup When closers are involved, they are much more likely to provide the type of follow-up they know from experience is needed to close the sale.
  • 11. Tweet: #startwithfollowup (from the bottom up)  Closing  Providing follow-up quality control  Defining follow-up measurement points  Defining follow-up  Defining conversion resources  Defining conversion processes  Defining quantifiable goal(s)  Defining qualified lead  Prospecting Closers are skilled at
  • 12. Tweet: #startwithfollowup LEARNING FROM THE CLOSERS BOTTOM UP
  • 13. Tweet: #startwithfollowup With the closers, evaluate the endgame  Which sale represents the highest revenue?  If this is not known, what A/B testing models can be used to provide downstream insight for future campaigns?  What is the overhead for closing the highest-value sale?  Are there sales with less, but adequate revenue, with lower closing overhead? Evaluation
  • 14. Tweet: #startwithfollowup  What are the different types of sales within the business?  What processes are used to close each [type of] sale?  Does the sales team have the time/resources necessary to close the sales your campaign will drive?  Do the sales require other human capital beyond the closing team? Evaluation
  • 15. Tweet: #startwithfollowup It’s important to measure the effectiveness of the closing-process hypotheses of our new friends in the closing department(s).
  • 16. Tweet: #startwithfollowup  Sales reports  Google Analytics  eCommerce analytics  Email analytics  Site-visitor analytics  Call analytics Who’s to say SharpSpring Visitor ID
  • 17. Tweet: #startwithfollowup Don’t over measure. Just because you can track an activity, doesn’t guarantee it is meaningful.
  • 18. Tweet: #startwithfollowup For example:  Number of leads  Number of form completions  Number of active engagements (e.g., resource downloads)  Number of qualified leads  Number of successful follow-up  Number of conversions Measurement points
  • 19. Tweet: #startwithfollowup Email open rates, and the like, are important, but not the meaningful data we monitor in our bottom-up approach.
  • 20. Tweet: #startwithfollowup  Closers develop and become experienced at effective follow-up.  Discussions on this topic will enable you to digitizing this process — to some extent.  Expect resistance. Follow-up  Closers believe — and may well be right — the digital process cannot replace personal interaction.  Find a balance.  Offer compromise.  Test and track like your job depends on it.
  • 21. Tweet: #startwithfollowup  It’s not closers becoming marketers.  It’s not closers defining the campaign  It’s learning from closers’ experience.  It’s adding your marketing voice. Marketing voice
  • 22. Tweet: #startwithfollowup Marketing must step in and choose a focus — we need a single call to action: Download a resource, fill out a meeting-request form, watch a video…
  • 23. Tweet: #startwithfollowup  Closers have many conversion tools.  Closers use both the tangible (brochures, videos, etc.) and intangible (calls, personal visits, etc.)  Tangible tools probably come from the marketing department.  Marketing must adequately stock the closers’ arsenals — which may mean creating new resources. Conversion resources
  • 24. Tweet: #startwithfollowup Closers have experience that dictate to them the processes they use for closing sales.
  • 25. Tweet: #startwithfollowup When we marketers understand these processes, we create better marketing campaigns — resulting in quicker and more conversions.
  • 26. Tweet: #startwithfollowup  Processes vary in length, resources, and results.  Understanding the process will help you to create messaging aligned with the process.  Continuity is comforting to the lead and will shorten the sales cycle.  Leads remain focused from end to end. Conversion processes
  • 27. Tweet: #startwithfollowup  All campaigns require a quantifiable goal.  You must be able to measure your success toward attaining the goal.  Closers will help you to define the quantifiable goal.  Marketers can choose the measurement process for that goal. Quantifiable goal(s)
  • 28. Tweet: #startwithfollowup BAD: Close more sales. GOOD: Close 45 new sales. BETTER: Close 45 new sales of more than $500 by 31 December. Quantifiable goal(s)
  • 29. Tweet: #startwithfollowup ROMI (or MROI) calculators are marketers’ tools for assessing campaign performance, predicting campaign performance, estimating campaign requirements, and measuring campaign performance.
  • 30. Tweet: #startwithfollowup ROMI calculators Calculate leads: How many leads will get you to your revenue goal? In this formula, let's assume you know how much revenue you would like to earn, how much the average customer spends, and the various conversion rates, but want to know how many emails/direct mails/scanned badges will achieve that revenue. Revenue you would like to achieve $125000.00 Average amount each customer is expected to spend $69.99 Customers (people who will make a purchase) 1,300 Close rate 60.000% Opportunities (people you expect to make a purchase) 2,167 Qualified-lead-to-opportunity conversion rate 40.000% Qualified leads (people who fit within your target audience) 5,417 Lead-to-qualified lead conversion rate 12.000% Leads (people who engage with your campaign) 45,141 Prospect-to-lead conversion rate 35.000% Prospects (emails/direct mail/badges scanned, etc.) 128,975
  • 31. Tweet: #startwithfollowup Qualified lead  Closers will define qualified lead for the business.  It may be different for different products or revenue streams.  Marketers typically do not have the experience or skill set needed.  Assuming this task can result in animosity and sending closers leads they feel are not ready for closing activities.  Over time, the relationship between marketing and sales continues to deteriorate and the business and sale conversions suffer.
  • 32. Tweet: #startwithfollowup Appropriate campaigns  Even when you work a campaign from the bottom up, you still need the closers’ expertise.  Every campaign style creates different types of leads.  Use the appropriate campaign style to develop what the closers define as qualified.
  • 33. Tweet: #startwithfollowup Inundated with metrics, we marketers may feel we should have all the answers, but that’s rarely the case. Working with our closers from the bottom up, we can improve intra-business relationships, build better campaigns, and close more sales. Summary
  • 34. Tweet: #startwithfollowup Spider Trainers designs, develops, and deploys custom drip and nurture campaigns. The participating client is the successful client. Get our free Return on Marketing Investment calculators http://www.spidertrainers.com/marketing- return-investment-romi-calculators/ Contact us: Chuck Meyer Client relations manager 651 702 3793 cmeyer@spidertrainers.co m http://www.spidertrainers.c om PO Box 280487 Lakewood, CO 80228 United States Spider Trainers