Closing two "sales" to get one order... .

New account acquisition for complex big-ticket products/services is the most strenuous challenge available for marketing and sales teams. Unfortunately, many are disappointed with the results that they generate Developing a keen awareness of a few critical environmental differences between B2C and big ticket B2B is essential. Marketing and sales teams need to understand that they need to close two "sales" for every order and they must learn to do this in an environment that is very different versus the B2C world.

Deadlines. Deadlines. Deadlines. What would the marketing and advertising industry be without them? The question becomes when you talk about time vs quality vs cost, how do you determine the right balance to maximize all three? The short answer is it takes discipline. Building brand and response programs within a framework can really provide the organization you need to out perform the marketing efforts of your competition.

Generally, here’s how to manage by discipline:

Brand should be reviewed annually and adjusted, answering the questions: What changes have there been in the market? What changes have there been in our offering? Should we adjust course? If so, how?

Direct marketing, promotions, retail and other sales oriented campaigns should be reviewed quarterly: Did we reach our goals? What worked? What’s repeatable? How can we improve?

Online, email and sales/employee related efforts should be reviewed weekly: What can we say or promote? What news can we get out there? What do we need to remind people of?

The best businesses run marketing as they run accounting, operations, manufacturing or sales. With consistent but flexible metrics and milestones with built in periods of course correction — making marketing and advertising a powerful competitive weapon.

There are many myths, legends and pseudo best practices out there on what are the most important factors in developing a successful direct response program — so here’s a clear guide to what drives success.

First, you need a clear goal: industry average is 1-2% so that’s a good baseline to start with, especially if you have no prior history to gauge response metrics. Your campaign should at least start with a modest goal — don’t over promise and under deliver.

Second, you need to design a multi-touch campaign: For example, usually three to four touches in at least two mediums will really improve your chance of success. So let’s say, 2-3 direct mail pieces with corresponding email and at least one phone follow up mid campaign. Don’t fall into the trap of the “one-off” mail piece, phone call or email.

A lot of people seem to be confused about the difference between nurturing a lead and destroying an embryonic relationship. Lead nurturing gets to the heart of what productive direct marketing is all about.

Whoever coined the term "Customer Relationship Management" had no idea what was involved in identifying a potential new buyer, initiating a relationship, and developing that relationship. If they had a clue, they would never have suggested that customer relationships can be "managed".

Customer relationships can be allowed to atrophy thru inattention, theycan be destroyed by non-responsiveness, poor service/support, a poorly performing product or service, and ill advised communications. A customer relationship can also be nurtured and developed into a mutually beneficial partnership.

Can your CRM system generate a list of your high value leads? Can anyone in your organization compile a list of your most valuable leads? How would they do it? How long would it take them?

For most sales and marketing executives the answers would be: No, Unknown, Unknown, Unknown.

If these are your answers, then you simply cannot manage your business to optimize results. The profitability and growth that you enjoy tomorrow is heavily influenced by the prospects that you are working today. If your methods for prioritizing sales action do not include “lead value” as a critical parameter, how do you know that you are focusing your sales and marketing resources on the most desirable targets?