4 Steps to do lead nurturing that helps more customers buy

Find out about lead nurturing. Learn the 4 steps of walking through the buying journey with your customer to help them progress.

The post 4 Steps to do lead nurturing that helps more customers buy appeared first on B2B Lead Blog.

How sales hustle and automation hurt customer experience

Sales reps are hustling and using automated tools to move faster. But it can hurt customer experience. Here’s why: You can’t automate trust I registered for a demo account for CRM software. Five minutes later I got a call. Didn’t answer. Wanted to try the demo first. I got another call five minutes later. Checked caller […]

The post How sales hustle and automation hurt customer experience appeared first on the B2B Lead Blog.

The downside of sales hustle and automation

Are your sales reps hitting the phones and sending more cold emails? To drive growth, the mandate for sales organizations is to make more calls, send more emails. Sales reps are hustling and using automated tools to move faster. But sales hustle and automation have a downside: they can hurt customer experience and push people […]

The post The downside of sales hustle and automation appeared first on the B2B Lead Blog.

New research: Empathy and solving buying problems

New research: Empathy and solving buying problems

Most of us are solving sales and marketing problems. But instead, we need focus on solving customer buying problems with empathy.

Why? Because buying is harder today than ever been. You need to think about what your customer is thinking/feeling.

According to Brent Adamson, Principal Executive Advisor, Gartner, “empathy” is the one word that matters most to sales [and marketing] success.

This is part two of my interview with Brent Adamson (@brentadamson), co-author of The Challenger Sale and The Challenger Customer.

Continue reading New research: Empathy and solving buying problems at B2B Lead Blog.

New research: Boost organic growth from current customers

CEOs and sales leaders have long wondered: how can we drive organic growth and increase sales from existing customers?

But it’s elusive. In fact, the traditional approach is no longer working.

According to CEB, now Gartner, “Only 28% of sales leaders report that account management channels regularly meet their cross-selling and account growth targets.”

That’s why I interviewed Brent Adamson (@brentadamson), Principal Executive Advisor at Gartner, and the co-author of The Challenger Sale and The Challenger Customer.

Can you tell our listeners a little bit about you and your background?

Brent Adamson:  I work with an organization formerly known as CEB and has now been acquired by Gartner.

I work with the Sales & Service and Marketing & Communications practices here at the company. And it’s sort of our mission in life, at least in the business to business space where I spend most of my time, trying to understand with data, with research, with analytics, what does world-class B2B selling and marketing look like?

We get after that, again, with all sorts of analysis and research. It’s funny, we’re actually industry agnostic. We work across industries, go to market models, geographies, and try to understand (across all of the different kinds of companies out there) what do we all have in common?

What’s the recipe for success that’s going to help us all move the dial, do a little bit better, in sales, in marketing and ideally in sales and marketing?

How can sellers drive account growth?  

Well, sure. This is brand new research for us. In some way or another, we always study growth, right? Because that’s what sales and marketing are all about.

There’s a certain almost urgency, or we like to call the “Why Now?”, of this growth question, especially in sales, which is especially relevant for us today.

And that is simply the journey that we’ve all been on over the last five years, five months, 10 years, 20 years of building out broader capabilities across our organization to offer our customers, if you will, solutions as opposed to individual products and/or services.

The idea that if you can offer your customer broader solutions, that’s going to allow you to stand out, to differentiate yourself, to command price premiums in the marketplace. All good things to do and good reasons to do it.

The thing that’s interesting though, Brian, as you add all those capabilities to your portfolio that you can now bring to your customer to add that additional value. The actual value they create for you as a supplier is of course directly contingent on your ability to actually sell them, to get your customer actually to buy those incremental capabilities.

Not surprisingly, companies all around the world, in their efforts to grow, are looking to existing customers to buy into more of the cart, as we all like to say, to penetrate that account more deeply and get them to buy into more of the value that we can offer.

It turns out this is a huge challenge for B2B organizations around the world, which is, simply put, to get existing customers to buy more of what we have to sell; to essentially drive growth with existing customers. That is the challenge or the terrain, as we like to say, that we dove into this year.

What can sales do better?

What can we, as sales organizations, do to do a better job of driving growth with those existing customers? When you dig into it what’s interesting is the amount of frustration with sales organizations around the world in making that happen. There’s only about roughly a quarter of the heads of sales that we surveyed this year who told us that their account teams were meeting, let alone exceeding, cross-sales or up-sales across portfolio goals.

Whether you call it up-sales, cross-sales, land-and-expand, whatever you might call it, we’re all struggling to get that incremental revenue from our customers.

Let me take a breath there, but that’s sort of the terrain that we dived into to try and understand what’s going on. I would imagine, Brian, that’s something you hear a lot about too across your listenership.

Brian: Yeah. I was just talking with a CEO and his team, and that’s really a struggle. They were wondering how do they grow organically?

They talked about customer success, and they talked about how they could service their account above and beyond, but that just didn’t seem to be enough.

Driving organic growth (it’s counterintuitive)

Brent: Well, no. You’re right. It was counterintuitive even to us. We always have these hypotheses that we test in all our research, but it’s interesting to see how the data and the research shake out.

What we found is a couple of things here in this world of account managers, if you will, that this is the farming side of the hunting/farming debate. Right?

That’s about our farmers, and they must be nurturers and take care of our current customers, and then when they fail to grow, we think, “Oh, they need to be harder, and they need to be tougher, and they need to be more aggressive. We need to get them in there.”

What’s interesting is when we fail to drive growth with current customers, we often blame the people. We need more hunter-oriented sales professionals in our account management ranks, or we need someone that is going to ask for the business or be more aggressive as opposed to being so nurturing.

There’s an interesting tendency to fall back on DNA or at least on individual traits and assume that the lack of growth is the result of the wrong people.

Then you get the CEO saying, “We need better people. We need different people.” What we’ve come to understand really is not only is it the structure of the role.

Growing and keeping customers what you need to do differently

Yes, you’re on the hook for driving growth in existing accounts, but let’s not forget you’re also on the hook for not losing the business that you’ve already won.

At the same time, you’re partly on the hook, or at least partially you’re involved in the servicing of those accounts as well. You’ve got success or managing, making sure they get value from that which they’ve already bought, and then driving incremental growth.

What happens in the account management role, unlike a pure hunting role, is that when you’re sitting over, or at least involved in, all three of those categories simultaneously, not only your time, but your attention and focus gets split in some interesting ways that create all sorts of tension.

So, if I’m a pure hunter, all I’m tasked to do is to go out and bring out new logos or new customers altogether. But if I’m a farmer, if I’m someone in an account management role, yes, I’ve got to bring in incremental business, but never at the cost of losing the business that we’ve won already.

That’s the thing we say: the single thing worse than failing to grow an account is failing to keep it all together.

What you have now is this interesting tension of an account manager trying to pat your head and rub your tummy at the same time. They’re trying to do very different things simultaneously, which is grow the account but not lose the account.

Balancing account growth with retention

And the reason why that matters is that what you’re asking the customer to do in this environment is two very different things.

To keep the customer you essentially must get the customer to agree to the status quo. So, keep doing what you’re doing, sign up for it again, renew that contract, buy the same amount, renew that business if it was a renewal-based business, so that’s a status quo decision.

But a growth decision is to do something different, to buy more, to expand to more seats, to go to a new geography, to incorporate this new service or new technology.

From an account management perspective, I’ve got two tensions simultaneously. One tension is to try to get them to grow without losing what I’ve got already. And simultaneously I’m trying to get my customer to change and not change their behavior at the same time, and this turns out to be hard, right?

So, this stuff’s really fascinating from a social science perspective.

You think about, how do I play that card, what’s the strategy for winning and driving growth in that environment. So full circle back to your question, Brian.

Does over servicing customers drive growth?  

We find that the predominant mental model of account managers in this world is, well, first things first, before I get the growth I’ve got to get the “maintain,” I’ve got to get the “retain.”

Let’s make sure that they’re happy, let’s make sure they’re taken care of, let’s make sure they’re satisfied. In fact, let’s make sure they’re delighted with whatever we sold in the past.

So, let’s over-serve them, let’s provide world-class service, and if we do that we’re going to, at some point, achieve a threshold, permission, and if we can get over that permission threshold, then we’ll have won the right to ask them for growth.

And somehow, the fact of just by being so happy with the service we provided in the past, will drive growth.

And so that brings us full circle to the punchline of a lot of our data.

What we found is when you provide a world-class level, even just an above average level of service and success to your customers, they are twice as likely to renew.

So, we can find no statistically significant impact on that level of service, and the likelihood of that customer to grow.

So, put it all together and what you get is service drives retention, but it doesn’t drive growth.

service-on-account-growth

And that’s a really interesting thing to find in a world where the mental model, essentially the working hypothesis of not only account managers but all the way up to the CEO is, let’s serve our customers. Let’s create these world-class moments of delight, and that will earn us the permission for growth.

And we just don’t find that to be the case at all in our research.

The zone of wasted effort

Brian: The rationale and logic has always been, go the extra mile, delight. What your data’s showing us is that there is a point of overserving our customers?

Brent: We gave it a sort of provocative name, so if you draw this out in a set of curves, and we’ve got graphics to go along with this.

But the idea is if you think more service equals higher likelihood to grow, so you think of almost sort of like a… If you grasp this regarding growth likelihood, it almost looks like a 45-degree angle going up and to the right.

So service is on the horizontal axis, likelihood to grow is on the vertical and the more service I provide, the farther I go to the right, the higher I get on the vertical. Because service leads to growth.

service-and-account-growth

What we find is in fact that the line doesn’t go up and to the right endlessly, but it shanks to the right. It levels off and ends to your point regarding diminishing returns, and at some point, no matter how much more service you provide, you pour into that account, the chances of driving growth do not go up, because service doesn’t equal growth.

And so, what happens is that you keep providing more and more service with absolutely no incremental impact on growth likelihood.  It creates this huge gap between the amount of service provided and the amount of service that you needed to provide simply to get retention.

We call that gap the Zone of Wasted Effort, which is somewhat provocative.

But the Zone of Wasted Effort is in fact that.

It is effort that you’ve expended in serving the customer, in delighting the customer in hopes of getting growth that will never actually get you growth.

Because it doesn’t lead to growth, and so at the very least, in that Zone of Wasted Effort, there’s all sorts of questions there, but one of them is simply: what are the opportunity costs of our time?

How much time, money, effort, people are we pouring into a customer to provide world-class service when, in fact, the customer’s going to renew or retain anyway?

Strategies to drive organic growth

Just in Atlanta two weeks ago, one head of sales said, “We do this all the time.” The real price is not just the opportunity cost/time that you pay, but the fact that you are now raising expectations for your customer way above anything that you ever originally promised, and your recalibrating, or resetting their expectations for the next deal.

So yes, it gets you attention, which you were going to get anyway, doesn’t get you growth because it can’t get you growth. What it does do though is it makes the next deal you do with the customer even that much more expensive because you’ve recalibrated their expectations way higher than you ever needed to do originally just to keep the account.

Brian: This is a problem that’s affecting nearly every B2B company: “How do we drive organic growth?” What are some of the strategies, the things you’ve found, that sellers can do differently?

Set clear expectations

Brent: A couple thoughts on this. One is, to get back to the previous point, it becomes really important in this world to set very clear expectations.

The thing that heads of sales ask us all the time is, “Okay, I get it, or I kind of get it. I’m on board. I see the data makes sense, so I understand that at some point there’s diminishing returns to providing greater and greater service but how do I know how much service is enough? How do I know when I’ve reached that threshold; I’ve maximized the benefit for retention knowing that there is no benefit for growth? How do I figure out what that moment is?”

And the answer simply is, “It’s in simply meeting the expectations that you’ve established with your customer in advance. Whether it’s formally, through something like service level agreements or more informally through quarterly reviews or business reviews, or account planning processes.

But one way or another, setting those expectations very clearly, probably in writing with not only your customers but your own team, so that you don’t perform way above them, because all that does is add cost with no real return.” So that’s point one: setting expectations is super important.

That is more of a cost mitigation strategy, it’s not really a growth strategy as you asked for. So, Brian, the flip side is now how do I drive the growth?

Focus on customer improvement

Well, what our data has led us to understand is there is a completely different strategy altogether, which is something that we’ve come to call “Customer Improvement.”

For any of the listeners on the podcast who are familiar with our work that we’ve done in The Challenger Sale, in The Challenger Customer, this idea will sound very familiar. Effectively, it’s a subset of behaviors, or attributes that are all completely consistent with the Challenger body of work.

We tested a whole bunch of different attributes in our data across about 750 B2B customers, individual stakeholders involved in a big B2B purchase.

And what we found is for those suppliers who were perceived by those customers as providing a set of interactions that we’ve labeled “Customer Improvement”, they were significantly more likely to buy incremental services, additional geographies, additional features, additional products from that supplier.

Customer Improvement is the ability of a supplier to help critically assess the customer’s business in a way the customer hasn’t fully appreciated on their own, and help them identify new ways to grow, to make money, to save money, to lay out the ROI of taking a step in that direction.

Get customers to embrace change

If your goal is retention or renewal, what you’re trying to do there is just get your customers to embrace the status quo, to just keep doing what they’ve already decided to do in the past.

But to get them to grow, you need to get them to embrace change – to do something different, to buy something different, and if you want your customers to do something different, well that’s change.  Change is perceived as risky, and if I’m going to do anything risky, if I’m going to do anything that’s involving change you’ve got to make the business case not for buying your solution, but for changing their behavior.

And that’s what Customer Improvement is all about. It’s building a business case and articulating a business case to your customers for why they need not to buy your solution, but why they need to change their behavior in a way that’s going to improve their business.

It’s a really powerful lesson completely consistent with what we’ve found in the past, but what’s so stark about it in this context is that for existing accounts, while service and success do not drive growth, Customer Improvement does, dramatically so in fact.

Go from reactive to forward-looking

Brian: It sounds like what you’re saying is we need to move from being more reactive and looking at how do we deliver and retain, to proactive, being forward-looking.

I was thinking of this conversation I had with this CEO and his team. They have this customer success strategy, and it was really helping their customers become like gold medal athletes at performing what they do.

And the problem is the customers weren’t wanting to be gold medalists. What they wanted to be is to get their job done more effectively simply and there wasn’t that vision. And so, what I’m hearing is, you need to help someone.  If they want to embrace that level, it is to know where they want to go and how you can help take them there. Is that what you’re saying?

The difference between customer success and improvement

Brent: A little bit, yeah, it is. I would use slightly different language, only in the sense that the term Customer Success, at least in the world of software service for example, the big cloud providers, and that sort of world, the term success or Success Team has taken on a very specific definition or framework.

So, a Success Team there is generally designed to make sure the customer gets as much value from that which they’ve bought from you in the past as possible.

So, this is a proactive team that would reach out to the customer and say, “Hey you’ve got this subscription from us,” for example or, “You’ve bought this product or service from us. Did you know it has this capability you can take advantage of? Or, did you know there are these ways we can help you based on the contract we already have in place?”

So, it’s a proactive call. It’s not reactive in the sense that a customer calls you when they’re upset because something doesn’t work but because you’re proactively calling them and helping them get value from that which they’ve already bought. It’s proactive but backward-looking.

It’s focused on what you bought from us as a supplier in the past and making sure you get as much success from that as possible.

Now the Customer Improvement thing is not a thing.

The Customer Improvement concept, or the approach, is not backward-looking, but forward-looking.

And it’s not about your capabilities but the customers.

In fact, it’s completely supplier agnostic in way that will just drive you crazy.

It’s weird to try to get your customer to buy something without talking about your capabilities, which you will eventually, not at the beginning of the conversation though, but at the end.

So, if you think about a four-square, where the vertical dimension is supplier across the bottom, customer across the top and then the left-right is on the left, it’s sort of backward-looking, and the right is forward-looking.

account-health-model

Success Teams tend to be in the bottom left box. Success Teams tend to be backward-looking around the supplier’s capability. So, let’s make sure you get as much value from that which you’ve bought already. It’s a proactive push but around that which you’ve bought already.

Customer improvement isn’t about you

The Customer Improvement story up in the top right is not about you at all, it’s about the customer and how they can change the way they think about their business, in a way that’s going to help them reap greater returns in the future, going forward.

So, back to your point that the customer doesn’t want to be a gold medalist. In this world, what you need to do is figure out what your customer is ultimately trying to achieve, who are they trying to be? If not, a gold medalist then is it a silver medalist? Is it not a medalist at all?

Or, what are their ultimate goals as a commercial organization and you can ask yourself:

Okay, if that’s looking forward to the future, what they’re trying to achieve? What is it about that strategy that is incomplete or perhaps even misplaced?

How are they going to get there and what have they missed? If that’s what’s important to them, how can I help them get there better than if they ultimately are planning on getting there on their own?

And I suppose if you wanted to raise it up a notch in altitude, if you really wanted to you could go in and argue with, “That’s not even a good place for you to be starting within the first place.”

That is a higher-level argument, which is sometimes harder to have with your customer and I would never use the word argument per se, but “debate” if you will.

But one way or another you will find that this is the case, that your customers were always going to be oriented towards the status quo.

Because change is expensive, it’s disruptive, it’s scary, it’s risky, and if you’re going to get your customers to change their behavior, the first thing you’ve got to do is convince them that that change is even worth it in the first place.

That maybe it is worth it to become a gold medalist. Or if you only want to be a silver medalist that’s fine, but let me show you how the path that you’re on towards the silver medal isn’t going to get you there nearly as fast or as effectively as you thought it was going to.

Related resources:

Driving Growth Through Smarter Account Management

Quotable: Why Changing Behavior Is Your Biggest Sales Challenge

[Video] Rethinking Customer Understanding with Brent Adamson: Part 1

[Video] Rethinking Customer Understanding with Brent Adamson: Part 2

Why customer advocacy should be at the heart of your marketing

How customer-hero stories help you connect better

How to Attract B2B Buyers with Amazing Content

The post New research: Boost organic growth from current customers appeared first on the B2B Lead Blog.

10 Most Popular B2B Lead Generation Blog Posts of 2017

10 most popular B2B Lead Generation Posts

January is a time for new beginnings.

To help you launch into a great year, I’ve compiled a list of the top ten most popular and shared posts on the B2B Lead Generation Blog in 2017.

This following list was compiled based on aggregate social shares across Twitter, LinkedIn, Facebook and views.

The list starts at number 10 moving up.

#10: How to Improve Lead Routing to Skyrocket Sales 

lead-routingHave you intentionally optimized your sales lead routing and assignment process? If not, you could be losing sales, and marketing ROI not see it.

For example, LeadData’s new report, The State of Lead Management, based on a survey of 527 B2B sellers and marketers found an average 25.5 % of marketing-generated leads get assigned to the wrong account owner.

Did you catch that? Over 25% of marketing-generated leads get assigned to the wrong person. In this post, you’ll get 7 tips to increase your lead generation ROI by improving how you route leads.

Read about How to Improve Lead Routing to Skyrocket Sales Results

 #9: Getting sales enablement right to increase results

sales_enablement

Sales enablement is intended to help raise performance, but a lot of efforts have backfired due to departmental silos. And now there’s growing gap between what salespeople need and what they’re getting to improve performance.

So how do you get sales enablement right?

I interviewed Dave Brock (@davidabrock), author of the Sales Manager Survival Guide, also CEO of Partners in EXCELLENCE. Dave’s brilliance is his focus on practical simplification.

Find out how to get sales enablement right to increase results

#8: How to do lead management that improves conversion

Have you looked at your lead management approach from the perspective of customer experience? If not, you may want to start now.

Here’s why: According to Forrester, top performers convert 1.54% of marketing qualified leads to revenue. This means almost 98% people who start the customer journey are lost.

Find out 5 areas you need to focus on to improve lead management and increase conversion.

Read more: How to do lead management that improves conversion

#7: Seven Tips to Boost Lead Nurturing Email Results

People aren’t looking for a reason to read your lead nurturing email messages, they’re looking for a reason to delete them. Think about it.

Marketers rely on email as the top lead nurturing tactic. And according to Econsultancy email is the best digital channel for ROI.

Read 7 Tips to Boost Lead Nurturing Email Results

#6: Stuck on words: how can marketing connect with customers better?

customer connectionHow can marketers better connect with people we hope will become our customers?

Why? Because the trust gap between marketers and customers has never been bigger.

For example, this survey by Hubspot showed that only 3 percent of buyers surveyed consider marketers and salespeople trustworthy. Yikes.

It starts with the words we use which ultimately affects how we think and act towards others.

Read Stuck on words: how can marketing connect with customers better?

#5: How customer-hero stories help you connect emotionally and sell better

customer-hero storiesJust 13% of salespeople produce 87% of revenue in a typical organization according to the Sales Benchmark Index.

You may be wondering: what do the 13% do differently?

They connect emotionally with their buyers.

I interviewed Mike Bosworth. If you don’t know Mike Bosworth already, he is a thought leader in the B2B sales/marketing space.

Read more: How customer-hero stories help you connect better

#4: New B2B Persona Research from Salesforce and LinkedIn Study

Getting the right content to the right people continues to be a challenge in B2B marketing and lead generation.

Salesforce analyzed more than 15 million data points, spanning a four-year period, from two of the most massive B2B databases: Data.com and LinkedIn.

The results will surprise you.

I interviewed Mathew Sweezey (@msweezey). Mathew works with Salesforce and is the Principal of Marketing Insights to talk about the report, B2B Personas: Targeting Audiences.

Check out the New B2B Persona Research from Salesforce and LinkedIn Study

#3: Lead Nurturing: 5 Useful Tactics to Get More Opportunities

Lead-Nurturing-TacticsLead nurturing is one of those things that’s easy to talk about but hard to do.

Find out how to apply lead nurturing to help advance leads through three stages of your lead generation funnel to get more qualified opportunities.

Learn 5 tactics you can use immediately to improve lead-to-customer conversion.

Read more: Lead Nurturing: 5 Useful Tactics to Get More Opportunities

#2: Why customer advocacy should be at the heart of your marketing

Customer advocacy marketing programs help you increase revenue by improving customer acquisition and retention (and they’re also your best source of leads).

I interviewed Mark Organ (@markorgan). Mark is the Founder and CEO of Influitive, and he’s been a thought leader in the space of sales/marketing technology and customer advocacy.

Read about Why customer advocacy should be at the heart of your marketing

#1: Who should own lead generation for a complex sale?

Who should own B2B lead generation: sales, marketing or both?

You might be thinking, “isn’t the answer obvious?” It’s not.

Let me explain.

Sales and marketing don’t do a great job of lead generation because they both believe it’s the others job.

I asked the 19,830 members the B2B Lead Roundtable LinkedIn Group about this topic. In this post, you’ll get a ton of actionable tips.

Read Who should own lead generation for a complex sale?

Conclusion

The single biggest issue for B2B revenue growth remains lead generation: increasing lead quality and quantity. This analysis into the most popular posts gives a glimpse into what subjects readers found most relevant.

Additionally, this list shows that increasing conversion, understanding customer motivation, managing and nurturing leads better, and improving sales performance are topics on the minds of readers.  At the same time, connecting and building trust with buyers has never been harder.

That’s why we need to go beyond rational-logic based marketing to understand how our customers feel. Empathy is not just a “soft” skill, it’s an incredibly powerful tool to understand customer motivation and increase lead conversion. I’ll be sharing more about how we can connect with customers better using applied empathy.

The post 10 Most Popular B2B Lead Generation Blog Posts of 2017 appeared first on the B2B Lead Blog.

5 Reasons Why Your Buyer Persona’s Aren’t Good Enough

How often do you spend weeks or even months putting blood, sweat, and tears into a new marketing campaign, only to have it fall flat?

You swear you did everything right, but when it comes time for the results to pour in, they never show.  It’s a marketer’s worst nightmare.

The likely culprit? Bad buyer personas.

Think about it, your buyer personas are the building blocks of your marketing campaigns. If they’re not good enough, every part of your marketing strategy will suffer.

That’s why we’re teaching you five easy ways to improve your buyer personas. Keep reading!

What is a buyer persona?

In the most basic sense of the phrase, a buyer persona is a profile of your ideal customer.  These profiles are made up of existing customer data, anecdotal observations, industry research and much, much more.

Large companies often have multiple buyer personas that span multiple industries, demographics, and product offerings. Whereas smaller companies often have fewer, less targeted buyer personas.

To create a buyer persona, you must analyze your current customer base and identify any common traits and characteristics.

Do your customers work at companies of a certain size?
Do they hold similar job titles?
Do they all work within the same industry?
Do they use the same software?

Alone, these traits may not be significant—but when combined inside a buyer persona, they give you a comprehensive view of your typical customer.

What does a buyer persona look like?

A very basic buyer persona looks like this: A 30 to 45-year old male, who works in software sales, at a company of 300+ employees. A more complex buyer persona extends beyond surface level details and includes other factors like common complaints, shared opinions, buying preferences, and more.

Here’s a basic example from Brightspark Consulting:

Unfortunately, the more complex your buyer persona, the longer it takes to construct. The best buyer personas are highly targeted and require a significant amount of analysis, research, and time.

Before we dive in, let us explain why buyer personas are so important.

Why are buyer personas critical to modern marketing?

Buyer personas are a modern marketer’s best friend. When you use buyer personas to inform each and every part of your marketing strategy, you tailor your decisions to the preferences of your ideal customers. Therefore, a set of detailed buyer personas can have a massive effect on your marketing results. Consider these statistics (source):

  • Companies who exceed lead and revenue goals are four times as likely to use buyer personas for demand generation than those who missed lead and revenue goals.
  • 56% of companies have generated higher quality leads using buyer personas.
  • 36% of companies have created shorted sales cycles using buyer personas.
  • 24% of companies generated more leads using buyer personas.
  • 93% of companies who exceed lead and revenue goals segment their database by buyer persona.

Five reasons your buyer personas aren’t good enough

It’s evident that buyer personas are critical to marketing performance.

But shockingly, 60-70% of B2B marketers admit that they don’t truly understand their buyers (source).

This means that, although many marketers create buyer personas, they probably aren’t very effective.  Today we solve that problem.

If you’re not reaching the right audience, or your marketing results have plateaued, perhaps we can tell you why. Keep reading for the five most common reasons your buyer personas aren’t as effective as they could be.

Reason #1: They don’t include technographic information

Marketers have been using demographic information to target potential customers since the dawn of time. Technographics, on the other hand, are relatively new.

For those who aren’t familiar, technographics are the tools and technologies a company uses to operate. This includes everything from social media management tools to the platform a company uses to manage their website. But, technographic data isn’t just a tool or set of tools. It also includes vital information about how your prospects use and purchase technology.

Although demographic and firmographic data is essential, your buyer personas aren’t complete without technographic data. Consider this—with insight into the tools your prospects use, you can target your competitor’s customer base or identify important trends happening within your industry.

Here’s an example from VentureBeat: A financial tech firm noticed that Eloqua marketing automation was a predictive signal for its top prospects. The company is in a completely separate vertical, so it wouldn’t make sense to personalize messages about this platform.

However, it did help them deduce a few things. They recognized that companies running Eloqua tend to have a certain level of technical sophistication, and are usually big enough to be able to afford premium enterprise systems.

Reason #2: They’re built off of biases

As hard as we try not to, all marketers have their own biases. It’s easy to forget that not everyone thinks about your products or your brand the way you do. Unfortunately, these biases can influence your buyer personas and make them unreliable.

 If you’re not sure whether your own biases have influenced your buyer personas, ask yourself the following questions:

  • Do my personas mirror the customer journey we most commonly see?
  • Do I have evidence to support each and every assertion within my buyer personas?
  • If a customer read this profile of themselves, would they agree with it?
  • If my sales team read this profile of our best buyer, would they agree with it?
  • Do I ever overstate or overestimate the need for the product I’m trying to sell?
  • Do I ever overstate or overestimate the product’s ability to solve my customer’s problem?

Ask yourself these questions and truly try to think like your customer. If all else fails, hire an analyst, survey your customers, and ask other departments within your company to check your work.

Reason #3: You set it and forget it

If you’ve been in marketing for any length of time, it’s likely that you’ve already created your buyer personas. Maybe they’re effective—maybe they’re not. But chances are, if it’s been longer than six months, you need to revisit them.

Data changes, trends fade, and buying habits evolve as technology advances. It’s important that your buyer personas take these changes into account.  After initial buyer persona creation, put a recurring meeting on your calendar to review them.

Keep track of any important changes within the industry, your company, your product, technological advances, and buying motivators. When it comes time to review, make sure your personas reflect these changes. After all, your customers aren’t static and neither are your buyer personas. Don’t treat them as such.

Reason #4: You don’t have enough

If you’re a small company with one product, a single buyer persona may be enough to fuel your marketing campaigns. But chances are, it won’t be enough.

If you feel like your buyer personas are ineffective, it could be that they’re not granular enough.

In today’s marketing landscape, your customers expect all marketing communications to be tailored to their specific wants and needs. Consider these statistics:

  • Over 78% of consumers will only engage offers if they have been personalized to their previous engagements with the brand (source).
  • 81% of consumers want brands to get to know them and understand when to approach them and when not to (source).
  • 87% of consumers surveyed say that personally relevant branded content positively influences how they feel about a brand (source).
  • 63% of respondents are highly annoyed by the way brands to continue to rely on the old-fashioned strategy of blasting generic ad messages repeatedly (source).
  • 63% of consumers said they’d think more positively of a brand if it gave them content that was more valuable, interesting or relevant (source).

 Take a look at each of your personas and the campaigns you’ve used to target them. Is the content you’re serving truly relevant to each person within that audience? Consider removing any outliers and creating a separate buyer persona for them.

Reason #5: They lack motivation and emotive context

If you only use quantitative metrics to compose your buyer personas, they likely won’t perform well.

This is because your customers and prospects are people—not numbers. Some people buy products on a whim. Others take a year to consult with an entire buying committee before spending money. Something that triggers a purchase for one customer may have no effect on another customer.

To create effective buyer personas, you must consult your sales and customer service teams to gather anecdotal evidence.

Determine what motivates each of your buyers to make a purchase. Is it frustration? Is it the satisfaction of getting a good deal? Or did you just catch them at the right time?

This information is crucial. Without it, you don’t truly understand your customers.

Key Takeaways

Buyer personas are essential to marketing—but only if they’re created correctly and aren’t neglected. It’s important that, as a marketer, you recognize the power of buyer personas and dedicate the time and effort needed to create them.

The post 5 Reasons Why Your Buyer Persona’s Aren’t Good Enough appeared first on the B2B Lead Blog.

Empathy, Web & People: Improving The B2B Customer Experience

Some businesses make it hard to work with them. It seems at times that many B2B organizations have made it so complex and uncomfortable to work with that customers are forced to find an alternative even if their current provider offers a better product or solution.
As connected consumers, we want ease, we want a good experience, we have an expectation of those with whom we spend our money. We have seen this with 1-click ordering, same day delivery, and improved e-commerce experiences. Given that we want this as consumers, it makes sense that when we move into our professional worlds, we want to work with and buy from companies that have the same kind of focus on customer experience.
However, according to a recent article on DesitnationCRM.com, most B2B organizations are failing in providing a positive customer experience with fewer than 10% of organizations saying they do.
The article goes on to provide some tips that B2B organizations can adopt to improve the customer experience. While I agree with all of the suggestions in the article, there are a few more that I have added here.

Apply Empathy

In a blog post written by Brian Carroll he writes the following:
Neuroscientist, Antonio Damasio discovered, “We are not thinking machines that feel, we are feeling machines that think.” Damasio made this groundbreaking discovery:  when emotions are impaired, so is decision-making. What does this mean? We need to go beyond logic to understand how our customers feel.
This is particularly important if you have a complex sale where B2B buyers face daunting decisions that involve huge risks. Our customers aren’t saying, “We need solutions.” Instead, they’re saying, “We need to solve a problem” So what would happen if you focused on helping them do just that?
One of the questions I am routinely asked by new clients is, “are we the worst case you have ever seen?”  What they are really saying is, “we know we have problems and can you help us. We want to improve.”
Many times the first meeting I have with a client is listening, inquiring and assuring them that all will be ok. It is applying empathy and letting them know that together we will improve.
I spoke with a CEO yesterday who told me, “We have to stop speaking about our platform and begin speaking to our customer's issues and let them know we understand.”  This is empathy in action and he is intent on moving his company in this direction.

Improve The Web Experience

I sat with a prospect a few days ago who said, “if you go to our website you have to have a PhD. to understand what we do.”  She was right. The site is overly complex, hard to understand and trying to find any kind of content is extremely difficult.
The reality is that in most cases, buyers and customers consume content digitally and if organizations make it hard to find or use overly complex language, it makes it harder to do business.
One executive, I spoke with this week told me, “I am not trying to be insulting, but we look to develop content and design our product so that a high school freshman could understand it. We want it to be super easy for our customers.”
Having long web forms, gating all of your content, making a buyer go through multiple clicks and pages to access content, or making your site hard to navigate are all reasons why customers will look elsewhere.
Organizations need to think about the fact that often the first interaction a potential customer will have with your brand is your website, if it is a poor experience, they may not come back.

Focus On Your People

Ever engaged with an employee of a company who hates their job? If you have, chances are you could feel it in the interaction, in the approach they took to you as a customer and it is an all-together negative experience.
One of the places to start in improving customer experience is with your employees. Many companies want to ensure their customers have a great experience but skip over the all to important step of first developing a positive employee experience.
Employees that feel appreciated, are recognized, are given opportunities to enhance their skill set, and given an opportunity to reap the benefits of the organization's success are employees that bring that positive vibe to your customers. This has to be a foundation for any organization if customer experience is going to be realized.
Customer experience is quickly becoming one of the top buying decision and loyalty factors for B2B customers. Organizations can no longer afford to fail at it and need to move quickly to a customer-centric point of view or be left behind.
The full post on empathy by Brian Carroll can be found here
Image courtesy of Halogen Software

The post Empathy, Web & People: Improving The B2B Customer Experience appeared first on the B2B Lead Blog.

Insights Into the World of Content Marketing

Last week, Content Marketing Institute and MarketingProfs released their annual B2B Content Marketing Study that dives into the practices and habits of B2B content marketers in North America.
Content marketing is a key component of any customer experience strategy and while the overwhelming majority of B2B organizations are producing content, the study shows that successful execution may still be elusive.
In looking at this year’s study there are some thoughts and musings I have listed below.

Content Marketing Continues Upward... But Is It Successful?

According to this year’s study, 91% of organizations are using content marketing (an increase of 2% compared with last year’s study) and 38% of respondents expect that their spending on content marketing will increase next year. While there is no doubt that content marketing is a necessary and useful discipline to drive customer engagement, the majority of B2B organizations do not truly understand the impact it is having within their company or their audience.
According to the study, respondents stated the following in regards to the measurement of their content marketing performance:
Only 19% are “excellent” or “very good” at aligning their metrics and content marketing goals only 35% of organizations consistently measure the ROI of their content marketing
Given that so much time, effort and money is being spent on content marketing, it is incumbent upon marketers that they begin to measure the impact content marketing is having on corporate performance. Regardless of “no formal justification being required “, as 38% stated. If content marketers are going to know if they are successful, then they must measure the outcomes of their work and be able to show the impact they are making.

Questioning Commitment

When asked how committed their organizations were to content marketing, 63% of organizations stated they were either extremely committed or very committed to content marketing. However, this “commitment” does not seem to be producing success, as only 24% of respondents stated they are “extremely successful or very successful” with their organization’s approach to content marketing.
So what are organizations committed to when it comes to content marketing? The definition of content marketing within the study is as follows:
“A strategic marketing approach focused on creating and distributing valuable, relevant and consistent content to attract and retain a clearly defined audience – and ultimately to drive profitable customer action.”
Using that as the definition combined with the lack of success or lack of understanding if they are successful, are these organizations truly committed to “profitable actions?”
Simply creating content is not commitment. Being able to demonstrate the profitable actions that customer acre taking in response to content is what will demonstrate commitment.

Talk Is Not A Strategy

When asked if they have a content marketing strategy, 37% stated that they do indeed have a strategy and it is documented. Another 38% of respondents stated they have a strategy but it is not documented.
Any strategy that is not documented and known by key stakeholders in the organization is no strategy at all.  Strategies are documented and not merely spoken.  B2B content marketing professionals need to stop fooling themselves into thinking that having a discussion about their approach to content marketing is akin to a strategy.
For organizations to see success in their content marketing performance they need to document their strategy and re-visit on a regular basis. This allows them to see what adjustments may need to be made and how they are following this strategy, simply talking about it is not strategic in any way.

Time To Re-Think The Approach To Content

Content marketing is a must for any organization looking to connect with their customers; however simply generating content for content’s sake is not a viable approach. This year’s study, as in years past, shows that content marketers are still struggling to make an impact. I believe it may be time to slow down the content factory and be more customer-centric and purposeful in the approach to content marketing.

The post Insights Into the World of Content Marketing appeared first on the B2B Lead Blog.