Archive for the ‘Lead Gen’ Category

Guerrilla Selling’s Mind Map Challenge Revisited

September 12, 2011

While Guerrilla Selling’s “Mind Map” focuses on one-on-one direct sales interactions, can its face-to-face principles of buyers’ “phases” and sellers’ “best approaches” be effective in today’s online social media environment?

My Theory
In a B2B online social environment, without the requisite buyer’s presence in a face-to-face or one-on-one situation, practicing mind-map-driven guerrilla selling isn’t practical. My theory is that a seller can use his/her “Seller’s Approaches” – I view these as “behavior” — as triggers that cause a favorable response in a buyer audience. This flip-flops the original Mind Map chart, which teaches that the buyer’s behavior triggers the sellers reactive behavioral approach. For reference, I have included a slightly-modified version of the original Mind Map here.

The theory’s flip-flop premise is based on an online B2B audience of prospective buyers in which there are individuals, each of whom is in a particular identified left/right brain phase. If a seller were to address that audience with messages about “Fair-Care-Share” for example, the “Principle Phase” individual buyers would be responsive.  

In application, one might theorize that the six “best approaches” (disregarding the “Amoral Phase”) could be implemented in a series of blogs, Tweets, or other social media channels. By doing so, a seller could build – over time – a dynamic online personality profile that would appeal to more than one of the Mind Map’s categories of prospective buyers.

A Theoretical Example
For example, blog #1 portrays the seller as factual and logical, then blog #2 demonstrates fair-care-share aspects of the seller, while in blog #3 the seller is relaxed and just tells her/his story, and yet another blog (#4) stresses the seller’s responsibility to community and the good works his/her company is doing. This chameleon-like seller behavior is acknowledged in Chapter 4 of Guerrilla Selling. In the “Guerrilla Challenge” section, it teaches that “You must…adapt to the needs of each prospect you meet.” And, “They [Guerrillas] can shift from Ego to Pleaser to Authority to Principle phases as the situation requires.”

It would seem that the cumulative effect of such a blogging strategy could, over time, attract the identified Mind Map audience segments (as B2B leadgen). Similar-minded individuals in those segments would find the seller a person with whom a relationship might be formed.

The original Mind Map was reactive, i.e., the buyer’s behavior (phase) caused the guerilla seller to respond. It required an interactive situation, with a face-to-face meeting, or one-on-one (phone call).Today’s Internet reality is that in the online social communities, clearly identifying a particular individual’s phase is difficult, if not impossible. The Web’s social media tools are not equipped to provide face-to-face or one-on-one interactions. Therefore, a potential solution would be for the seller to behave online in more than one particular Mind Map phase, so as to attract (pull mode) compatible sales prospects.

Next Steps
My theory has not been tested in my real B2B (technology) world. I would be interested in your inputs. If feedback indicators are positive, I’d be willing to develop an alpha feasibility-validation program.

The Mind Map (Revisited)

The Mind Map is a model of behavior and personality that divides our human minds’ functions into seven “personality phases.” Guerrilla sellers use the map to understand people (prospects and customers) they encounter and be equipped to adopt a strategy that enables a relationship. At any given time, a particular person can shift from one mind phase to another.

Here are the Mind Map phases, listed with the most primitive “amoral” phase at the bottom:

Source:  Guerrilla Selling: Unconventional Weapons & Tactics
for Increasing Your Sales. William Gallagher, Orvel Ray Wilson,
and Jay Conrad Levinson, 1992. (http://www.gmarketing.com/)
Advertisements

Is Social Media Really a Free Ride to ROI?

September 11, 2011

While the best things in life may be free, social media has a price tag.

Browsing through some survey data recently, I stumbled upon one which indicated that some 113 (15% of those surveyed) Chief Marketing Officers indicated that the cost of social media is basically FREE! This response was to MarketingSherpa’s question of “…how you perceive social media’s ability to produce an ROI at budget time.”

Wait!…What? Do these marketing professionals actually believe that the budgeted investment in social media is ZERO? That would mean that any ROI would yield a de facto 100% profit.

I had to admit, however, that a case could be made supporting the perception of social media costing virtually nothing. There are companies that apply the DIY (Do-It-Yourself) approach to many social media activities. You know, those businesses that do everything in-house. A VP writes the blogs, an engineer or two Tweet, someone else is responsible for content on Facebook, and the sales guys plunder LinkedIn looking for leads. It’s all DIY. But, does that really mean it’s free? It sure would look that way in a budget, because salaries are an operational line item, and not indicated in the marketing budget.

My common sense and experience tells me that social media is time-intensive. Activities that consume significant personnel time should produce financial outcomes that are favorable to the company’s bottom line, either directly or indirectly. Is a VP’s time invested in blogging going to yield an ROI?

ROI at Budget Time
It was MarketingSherpa’s connection to ROI that bothered me the most. How can one realistically answer a question about ROI at budget time when the cost of leadgen is ZERO? The company budget may treat salaries one way, but can we ignore the real company money these DIY social media participants are spending when they use time on the job for blogging, tweeting, and the like?

Some businesses, mine included, do calculate “personnel ROI.” The IRR (Internal Rate of Return) on a reallocation of a current employee’s tasks has implications on the company’s bottom line. I actually have “target” income values that express how any employee’s time utilization should translate into productivity. That productivity is defined as revenue, so it’s “Revenue on Employee (ROE).”

My Hokey Hypothetical Model
Using an ROE approach, I constructed a rather hokey hypothetical model that shows company earnings as an outcome of the time an employee might spend doing social media activities. The following figures are annualized.  

The revenue value of each conversion is based on landing one customer out of each batch of 10 sales leads. The average revenue-per-conversion is $50,000.

This hypothetical employee would spend +/- 7 hours/week (about 20%) on social media pursuits. Thus for a salary-driven budget of $30,000 for 333 work-hours/year, the projected social media revenues are $100,000 for this employee. Personnel time utilization should be budgeted and clearly spelled out. So, it’s always time-is-money, and social media time invested does have a calculable ROI.

There’s also an ancillary issue of personnel time utilization, especially for employees who become addicted to Twitter, Facebook, et al. Productivity of other tasks can erode, perhaps enough to even threaten those other tasks’ ability to generate revenue.

While employees engaged in DIY in-house social media campaigns may believe that everything is free, business owners have a solid case for believing otherwise.

 #     #     #

MarkeTech Focuses Survey on Social Media Results

August 21, 2011

A new survey of B2B wireless industry sales executives targets online social presence’s ROI.

LOS ANGELES — August 28, 2011 — MarkeTech, a leader in innovative social media strategies and tactics, today launched its B2B “Online Presence” survey of the B2B wireless industry. The objective of this second annual survey is to establish benchmarks in social media practices that are evidenced by actual sales results.

The landmark survey’s protocol requires that only sales executives participate in this survey. Participants who complete the survey before 30 September 2011 will be the only ones who receive the final survey report. According to MarkeTech, the full survey results will not be made public. As with last year’s report however, participants can use and publish the data.

The survey’s benchmarks focus on social networking and media channels that yield an identifiable ROI (Return On Investment). “We need some honest metrics of what B2B wireless organizations are actually getting from their investments in social media,” states Patrick Potega, Chief Strategic & Tactical Officer (CSTO). “Is social networking monetization delivering on its promise? Sales executives have a right to expect an ROI that translates into measurable lead gen, conversions, and bottom-line revenues.”

MarkeTech expects its survey findings to empower sales-force executives to:
· Learn in which social media channels their real dollars and time are worth investing
· Find out whether their current online presence is under-performing in generating leads and conversions
· Make better-informed business decisions about their current and future social media strategies and tactics

Joan R. Naidish, MarkeTech’s president, indicates that the firm is conducting this research because “Available survey information is heavily biased toward B2C online social media. Also, there is growing evidence in the B2B segment of the wireless industry that those B2C social networking models may not be working.”

About MarkeTech
Since 1979, the MarkeTech team has been creating and implementing innovative business development solutions to its B2B wireless industry clients’ marketing and business-growth challenges.

Relevant blogs: 
   Tactics for Generating B2B Sales Leads 
   LinkedIn Works for B2B Sales Prospecting 
   Email — Workhorse of B2B Lead Gen & Conversions

Contact Info:
Joan R. Naidish
President
P: +1 (818) 883-9895 (PDT)
F: +1 (818) 883-5706
Prez[AT]MarkeTechCom[DOT]com
http://MarkeTechCom.wordpress.com

# # #

Email — Workhorse of B2B Lead Gen & Conversions

August 17, 2011

Statistics support the important sales pipeline role of email

clip_image002Email — whether an individual-to-individual communication, an email blast, or bulk email that’s personalized — is a mainstay of B2B lead gen and conversions. Our sales pipelines would just never work without email.

Here are some stats that express the important role email plays:

  • clip_image0033 billion worldwide email accounts
  • 107 trillion emails were sent in 2010
  • 30 million emails sent each day
    • Businesspersons send 33 per day
    • In 1985, 90% of all emails were business related, while only 8% were in 2010
  • 89% of all emails are spam

More and more, email is becoming recognized as a social media channel. As such, the emphasis on quality content and frequency (distribution QoS) are key attributes in making email work for your B2B organization.

Guest blog submitted by: Prez@JSC-DIRECT.com
______________
Data courtesy Fast Company magazine (http://www.fastcompany.com)

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine


%d bloggers like this: