Nurture Marketing

Have you heard of Market Nurturing or Lead Nurturing? Well, just as you tend to a seed with plenty of water, fertilizer, and sunshine, so also should you tend to your sales prospects.

So often we treat all of our sales prospects the same and put them into the same box. But, they all aren't the same. And heaven forbid that we treat all our customers the same. They each have unique characteristics and needs.

Did you know that many of the sales leads generated by marketing get ignored by sales reps because they are not sales-ready leads. So, don't listen to your sales reps who say that these leads aren't "hot". Help move those prospects further along the continuum towards a sale. Cultivate the relationships by being a good resource or a trusted advisor to your prospects. Here are a few suggestions to convert those leads to sales:

• Target the right people in the right company.
• Find out their buying process.
• Study your ideal customer.
• What are their priorities and challenges?
• Set a goal, for example, to have one relevant touch every month.
• Categorize your leads by their place on the continuum, such as in the beginning stage, intermediate stage, or sales-ready.

So, nurture those leads. Engage your prospects and nurture them to become sales-ready.

Adaptability, Flexibility, and Evolvement

Is your company stuck in a rut? Are you adverse to change? Do you have the attitude ... we've always done it that way? Well, you're not alone. Many established companies are not nimble enough to take their marketing to the next level. But, what I'm really surprised about is that many start-up companies also are not taking advantage of some of the latest marketing tools available.

Yes, as you know, I am an advocate of planning and actually putting a marketing plan into writing. But, some companies feel this is only an annual task and then put their plan in a drawer only to revisit it the following year. A marketing plan needs to evolve during the year. You need to be able to react to your competition. If a great opportunity is presented to you, you should take the challenge and rework your budget and plan to take advantage of a once in a lifetime opportunity.

I'm also quite stunned to see how many companies still have not embraced social media or even public relations. I think there is a fear that someone might say something "bad" about their company. Chances are people are already making negative statements somewhere. But, I would rather know about it and be able to control it and nip it in the bud. Some of your worst critics can turn into your best supporters if you handle the situation properly and in an expedient timeframe. Social media is one of the best ways to keep abreast of what your customers are saying about your company.

Marketing is all about adapting your message, flexing your plan, and evolving your products to meet the market needs. If you don't evaluate where you are and you don't have a plan for the future, you'll be like a boat without a rudder and will be spinning out of control.

Rethinking Marketing: Outbound vs. Inbound Marketing

Do you know the difference between outbound marketing and inbound marketing? Are these even familiar terms to you? Well, if you are a "traditionalist" you may not have heard of this terminology before. Here is a definition in a nutshell.

Outbound marketing really is "traditional" push marketing, where you push your message out to your potential customers via different channels. For example:

• Television advertising
• Radio spots
• Telemarketing
• Sales person
• Direct mail
• Magazine or newspaper advertising
• Trade show attendance

Inbound marketing, on the other hand, is drawing people to your Website through various means. Some examples of inbound marketing are:

• SEO/SEM (Search engine optimization/search engine marketing)
• Blogging
• Social media
• RSS (Really Simple Syndication) subscriptions
• Online public relations
• Offering free tools or trial subscriptions

So, which one is better to use in today's working environment? I think that is the debate of the century. Many companies specializing in SEO/SEM will tell you that inbound marketing is the most effective and that outbound marketing is outdated. Well, I beg to differ. In my opinion, I think they both are still viable options for most B-to-B companies. I have to admit that I was slow to embrace some of the new social media. But, I have found it is an effective tool to network with colleagues, find new customers, and gain access to new information.

On the other hand, I also recently have had much success with traditional direct mail, e-mail newsletters, and good-old printed newsletters. Plus, following up with people who have shown an interest in my services, is a very important piece of the pie. It's all about developing that relationship. I don't think it matters whether that is through Twitter, a phone call, a personal letter, or a sales call. It's more important how you follow up rather than through which means you follow up. It's also based on the age of your customer-base. But, that's not exactly true, either. I have spoken to many younger (18-25 age group) people who won't have anything to do with Twitter and Facebook.

I guess the moral of the story is don't come to conclusions about marketing so fast. And, don't throw the baby out with the bath water, so to speak. There is a place for both outbound and inbound marketing. You just have to analyze your customers, your products, and your goals and objectives for your company.

Give us some feedback on your experiences with inbound vs. outbound marketing for your company.

What's the Great Formula for Great Marketing?

Not sure any of the so-called gurus, sherpas, or other divinations with crystal balls can answer that question. But I can. And the answer is simple. Stop focusing only on getting new customers and start serving your existing customers. Simple? Well, it is. Your current customer base can be a wealth of referrals for the future of your business. They can also provide testimonials so that new customers will know that you are a quality company. You can't buy that kind of loyalty. So, it behooves you to provide your existing customers will stellar service and support.

Now, don't take that first paragraph in the wrong light. I'm not against getting your company name out to other potential customers. You always need to feed the customer trough. As we all know for whatever reason, customers come and go. Companies go out of business, companies merge, the person you work with gets a job at another company and the new guy brings in his own people, ya da, ya da, ya da. But, I do think many times we think of marketing as only getting new prospects, inquiries, or sales. It also is about communicating to your existing customer base. Too many companies have a great database of names and do nothing with that database.

We all talk about relationship marketing but no one seems to be developing a relationship with their customers. In fact, customers are ignored after the first sale. Whoever heard of after sales support? What does that have to do with marketing, you say? Well, marketing is more than the upfront lead generation. It's all about building a positive brand and image of your company.

So, my point is this. The great formula to great marketing is to service your customers well. If you do that first, it will be much easier to promote your products or services to potential customers.

Marketing Doesn't Cost...It Pays Big Dividends

Have you severely cut back your marketing budget this year due to the economic downturn? Well, you may have saved some money this year, but I bet you jeopardized future sales. And what did your competition do? Did they also cut back their marketing budget? If so, you're in good company. If not, they are miles ahead of you in running the race.

So, are you blaming the sales force for not selling enough? That may be partly true, but when you cut back your marketing tactics so severely your customers assume you don't exist any more or don't care. The overall effectiveness of your marketing campaigns is diminished.

It's not about throwing a lot of dollars into a marketing budget. It's really about how effective you can be. So, use those dollars wisely, let them stretch further, repurpose some of the material, but maintain your corporate image, above all.