The old prospecting model is dead. Banging phones, knocking on doors, blitz days, bingo card campaigns, email blasts with no imagination, and lunch and learns with crummy food and marginal presentations are a waste of time and money. And you know it. Yet, we keep banging our heads against the same closed doors until we bleed from the ears.
Do the math. Bingo cards cost $ 2.00 a piece with labor and postage and maybe you’ll get a 1% response which rarely converts to a customer. Your sales force is “on the blower” making marginal prospect calls (or none, which might be better) 30 % of the time. If you have 20 reps at $ 60 K each x 30 % prospecting time, that equals $ 360,000 per year with miserable results. Their job is not to pound phones, it’s to close deals. Lunch and learns are fine if you want the tire-kicker who wants a free lunch, a day out of the office, and a round of golf on the way home. And the minute you blast an inbox they reach for their delete key and you’re spam for life.
Okay, enough about all that business.
The question is what are we going to do now, because we still need prospects? They are our lifeblood. No prospects, no business. And, you can’t milk the base forever. That’s a slow death.
Two years ago I began studying best practices for digital internet marketing. What an eye opener. The world has changed and the millennials, who are now making decisions, are rewriting the rules.
They know what they want before we even show up at their door. Why? Because they are always just a few clicks away from researching anything they want. Content is free.
So we need to find them, nurture them, educate them, and eventually convert them to customers on their terms, not ours. One to one marketing is way to slow and frankly never worked. You need “one to many” marketing and with the internet you can do “one to millions” every single day. But only if you do it right.
To pull this off you need three things:
- You need a modern constant email engine with a solid initial list that provides high value and knowledge to the prospect – for FREE! That’s right, you give away some of your intellectual property. The right stuff for the right person and they will “opt-in” and follow you forever and one day they will convert. And, if they like your content they will share you with their friends particularly on social media. Now you are viral and your list grows geometrically.
- You need a dynamic easily maintainable web site that tells your story as though you were sitting across the desk from them. Static web sites don’t work and they are usually packed with useless content. They are merely an on-line brochure. Like the ante at a poker game – without one, you can’t get in the game. You want your email engine to drive prospects to your web-site and the web-site does the selling for you 24/7. And, with free google analytic tools you can watch the behaviors of your prospects (landing pages and searches) and chase them down based upon their interests. So, you better be interesting!
- You need an integrated CRM that automatically captures and distributes “opt in leads” from the email engine directly to your sale force every single day. I call this “no prospect left behind.” This constantly feeds the pipeline and once you calculate your conversion rate you can get very precise with your forecasting. You will also get back the 30 % of the sales reps time to move prospects to closure. For the example above, that’s like getting six free sales reps.
Where I can help is to provide a complete implementation guide, resource checklist, infrastructure, and help you identify insourced or outsourced marketing talent needed to fully implement this digital marketing model. And I will train the sales force to follow up immediately and seamlessly. If you nail this approach you will dominate your market and leave your competition in the dust.