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    How to Work Your Prospect list

    sales marketing strategies lead nurturing By MPI Posted May 15, 2019 12:17:07 PM

    The connections you make and the relationships you build with your prospects and clients are the most crucial concepts of growing your business. Yet many times companies find themselves at a standstill with over 60% of marketers reporting their top challenge is generating traffic and leads. (HubSpot) Without continually expanding your pipeline and working your prospect list, you are missing out on qualified opportunities.

     

    Once you have figured out who you are going to target, it’s time to put a plan in action. In order to properly work your list, you’ll need to invest the time and money to execute a well-planned out sales and marketing strategy. There are many directions you can go from here, so it’s best to determine how your organization is suited to communicate to these prospects and what formats are available to you.

     

    You’ll want to work your database by continuously reaching out with valuable communications. This can be done by actively calling on the list to set appointments and executing marketing campaigns to generate qualified leads. Then go the extra mile by nurturing these opportunities with education content. If you manage the right mix of activities against the list, your list will continue to organically grow and thrive.

     

    Creative thinking will drive your success in generating leads. As you work on developing your marketing strategy, creatively think about the individuals you are targeting then tailor the script and marketing material to those different titles. For example, the material you create for a sales rep wouldn’t be the same for a pitch to the CEO. According to Jay Baer at Convince & Convert, 65 percent of businesses say they would likely switch brands if a company didn’t make an effort to personalize their communications.

     

    When it comes to creating a strategy and implementing your plan, it’s critical to not hone in on just one method of outreach. People may relate better with different marketing mediums allowing your message to absorb deeper. A successful strategy will combine both inbound and outbound marketing. A multi-tactic approach will generate brand awareness and will aid in consistent nurturing.

     

    Some of the top marketing strategies are associations, conferences, cold calling, direct mail, email marketing, content marketing and social media. As you plan out your strategy, you must think about how a culmination of marketing efforts will deliver the best results. When you plan your marketing strategy, you’ll start by thinking about your monthly, quarterly and yearly approach. Your plan should contain multiple touches, which is more expensive than a single touch, but the result delivers greater success. You will determine the content and frequency for each while thinking about how each part works with the rest.

     

    For example, if you send out a direct mail piece, then you would follow up with cold calls and emails to connect with prospects to further discuss what you sent out. Though these marketing tactics are separate parts, layered together they work as a whole. Also as you create your plan, think about your calendar. If you have events or conferences coming up, it’s important to keep these top of mind and implement pre, during and post strategies to leverage your presence. By using multiple marketing strategies you will also be covering all your bases. You are increasing your chances of getting in front of someone because prospects will respond to various tactics in different ways.

     

    As you work through your prospect list, remember to continue updating it with new information you gather. For example, you may reach out to someone and find out they aren’t the decision maker so instead, they give you the proper information of who to reach out to. You might also realize the best times to call or which medium is best to contact them by. All of those details should be included in the notes you take along the way and then added to your database. The more you work your list and collect additional material on your prospects, the better your chances are to set qualified appointments.  

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    Build and Nurture Your Pipeline

    sales marketing strategies lead nurturing By MPI Posted May 8, 2019 1:01:17 PM

    When it comes to growing your database, there is one area that many sales teams fail at. They focus too heavily on their existing pipeline. They get to a certain level and think they only want to work off personal contacts and referrals so they start to limit who they reach out to. According to a study done by HubSpot Research, a whopping 90% of agencies cite referrals as their top source for new leads. (HubSpot) While you should still keep those contacts close, you must always be working on finding cold leads- new blood. Those non-existing relationships are qualified opportunities for you.

     

    The connections you make and the relationship you build with your prospects and clients are the most crucial concepts of growing your business. Still, many companies find themselves at a standstill with over 60% of marketers reporting their top challenge is generating traffic and leads. (HubSpot) Without continually expanding your pipeline, you are missing out on the possibility of connecting with qualified leads.

     

    After you have properly taken the time to cleanse your prospect list, you’re then ready to identify the areas you may have holes. To ensure the success of your list, you must compile enough contacts to work through so you can fill in the gaps. A hundred prospects is not a big enough scale to work from. Building and maintaining a quality database will take time and consistency. Discipline is key in data management because it’s an ongoing task that will take follow up and creative thinking.

     

    To garner results, you’ll have to work through every event, list broker, association, membership, industry publication, marketing campaign and lead sources to make sure you are compiling the best data possible. Sometimes you can find yourself at a standstill after exhausting all your contacts. If you still need additional help in building up your pipeline, purchasing a list from a credible broker would be a great resource to utilize. Also, as you go through your database you may notice missing information for specific contacts. For instance, maybe you have a name and number, but you are looking to find out their title or email. A list vendor can help you fill in the missing pieces so you can best reach out to your prospect through multiple channels or through the best option based on their persona.

     

    The area sales people often fail at the most is follow-up. They tend to focus heavily on the hot leads instead of what’s on the back-burner. It takes time and dedication, but the payback will show in the end. That’s why it’s important to manage and work your pipeline, which means holding your team accountable. Companies that put in the work to nurture their leads make 50% more sales at a 33% lower cost than non-nurtured prospects. (HubSpot)

     

    If you have a sales call that didn’t result in a sale, you must continue to work that lead with some type of nurturing. If you continue to stay in touch with these prospects you are going to have a greater chance of them working with you down the road especially because you know they have interest. Any objections from the prospect may resolve over time so it’s important to stay top of mind. This can easily be achieved by simply setting reminders to pick up the phone and speak to your leads directly.

     

    For example, a prospect may like the concept of your product or service, but doesn’t have the budget. Instead of just writing them off or following up cold in a year, you should keep pushing out material to remain front and center. It could be marketing material that shows how your services could save them money in the long run and then after a few months offer some sort of discount. It creates a call to action to get them to reconsider your offer. As we all know, things change and you want to be top-of-mind when funding becomes available, or when your prospect loses a top sales performer.

     

    Putting in the time and funding to adequately build up your pipeline will ultimately set you up for success. Setting a proper foundation with a solid pipeline will arm your sales team with the resources to hit their goals. Remember, the work doesn’t end after you construct your database. It carries on through the sales calls and expands with continued nurturing of your prospects. Next week we’ll further our discussion of effective data management with insight on how to put your list into action.

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    Maintaining a healthy prospect list

    sales marketing strategies lead nurturing By MPI Posted Apr 30, 2019 3:36:49 PM
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    4 ways using buyer persons will boost your sales

    sales marketing strategies lead nurturing By MPI Posted Apr 17, 2019 1:38:59 PM
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    How to Make a Human Connection in Sales

    sales marketing strategies lead nurturing By MPI Posted Apr 10, 2019 12:11:12 PM
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    3 Reasons Blogging is Effective for Your Business

    sales marketing strategies content creation By MPI Posted Mar 19, 2019 12:30:29 PM

     

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    How to add thought leadership to your marketing campaign

    sales marketing strategies content creation By MPI Posted Mar 7, 2019 10:45:44 AM
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    Shows Over! Everyone go home

    sales marketing trade show By MPI Posted Feb 20, 2019 10:08:35 AM
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    Success at a trade show

    sales marketing trade show By MPI Posted Feb 12, 2019 11:22:31 AM
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    Effective Pre-Trade Show Marketing

    cold calling sales marketing trade show By MPI Posted Feb 6, 2019 12:41:05 PM

     

     

    Deciding to attend a trade show is a big decision for any company. There are many factors to take into consideration when nailing down which show is ultimately the best. Once you have committed to attend, the work to maximize your return on investment has only begun. After understanding all of the advantages and disadvantages trade shows offer, it’s best to strategize and prepare in advance to make it worthwhile.

     

    There are many details of show attendance that should be thought out to ensure nothing is forgotten. A few details include: who is attending, booth location, what is your focus, how will you drive traffic, what materials will you bring and how will you market your presence. Right now, we are going to focus on marketing your trade show presence. Pre-show marketing is a critical component of attending a trade show and will set the tone of your success. The fact that you get to see your prospects face-to-face is already giving you a leg up, so if you can pull out all the stops to gain high booth traffic, why wouldn’t you?

     

    Marketing Emails
    You will most likely have access to an attendee and exhibitor registration list. It’s best to get your hands on this list as soon as possible. You may have to source additional information to execute your marketing efforts (if that’s allowed of course). Additionally, you should scour the list to identify any highly qualified prospects you are dying to connect with, let them be your number one focus and any additional connects are a total bonus.

    We recommend planning out a series of emails with various topics and subject lines as well as staggered deployment dates. Ultimately, your goal is to raise awareness about who you are and why they should come talk to you. To capture their attention you must hone in on your targets and identify key pain points you are solving for. The more focused you are on the problems you solve for these particular targets, the more likely they are to have their ears perked up. Take a friendly, welcoming approach, keeping in mind you’ll see them face-to-face at the show.

    As your email series are sent out keep a close eye on your data. Tracking activity and engagement of your prospects will give you loads of information. A prospect who is consistently opening and engaging with your emails should be flagged for additional follow-up such as a phone call. Don’t forget to send a reminder email the night before the show to those who have agreed to stop by.

     

    Phone Calls
    Reaching out to trade show attendees over the phone will continue to enhance awareness about your company’s presence at the show. Have a script handy, but it keep it short and sweet by simply inviting them to stop by your booth. It’s important to have a well crafted script for conversations as well as voicemails.

    Of course it’s less effort to send a sequence of emails, but putting in the time to make phone calls will allow you to connect with your prospects in a different way - personal touch. Not everyone who is attending the show will be dedicated enough to execute an outbound call campaign which can work to your advantage. According to trade show and event marketing firm Exhibit Systems, an average of only 10-15% of trade show exhibitors invest in pre-show marketing efforts.

    If you have a large list, you may find it beneficial to prioritize your list, making it a little more approachable. Additionally there may be people on the list that aren’t an ideal prospect for you or you may already be talking to them and would like to approach them differently.

     

    Direct Mail
    In a digital savvy world, direct mail is not the most popular marketing tools these days, but trade shows are the perfect time to utilize a direct mail campaign. In most cases, mail gets handed to many people and you have an opportunity to catch someone’s attention along the way. Be strategic in your design of the piece to really capture their eye in a simple way. In our opinion, putting your invite in an envelope would be a way of money and effort. You can simply send a fun postcard that is bright and playful. Think of all the mail you get day in and day out. What would stop you in your tracks? That’s the type of thinking that will set you apart from the rest!

    A fun idea to encourage a meet up is by offering an incentive on your direct mail piece. Try  something like “bring this postcard to booth 123 to receive a $5 Starbucks gift card” or “bring this postcard to booth 456 for a chance to win a pair of Apple Airpods. Try to leave room in your trade show budget for these types of luxuries. If you are at the right trade show, it will pay off in the end. Keep in mind you don’t have give away hundreds of dollars of freebees to stand out, you just need to be creative. Double check that your mailing has all of the important details about your company: Name, booth number, website, email phone and social media handles if you plan on being active.

     

    Not everyone exhibiting at the show will put effort into pre show marketing so use this to your advantage. Demand your company and product to be known by attendees. The more marketing tools you are able to execute on, the better. Using multiple strategies gives you a greater chance of standing out and connecting with your prospects. When putting your marketing plan together try to keep your message dialed in and consistent. It is the perfect time to be creative and try new things. Make pre-show marketing a priority!

    Because trade shows are such an investment, determining your ROI is very important but can be challenging. Establishing measurable and quantifiable goals prior to the show will help determine your pre, during and post show strategies and how to properly execute. The ROI calculator featured in our Trade Shows Aren’t Just about the Shows white paper may be a good starting point for your team.

    Stay tuned for during show and post show strategies.

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