Posts

5 Reasons You Should Build a Strong In-House List

B2B marketers continue to rely heavily on email for effective lead generation, content marketing and growing revenues. According to results from the B2B Content Marketing: 2019 Benchmarks, Budgets and Trends – North America report, email is the number one content distribution channel used by 87% of marketers. This means you need a “strong” in-house list, one with complete and accurate contact information.

Do you rely on purchased lists? Haven’t been properly maintaining your in-house list? If you answered “Yes” to either of these questions, you’re wasting time and money. Plus you’re increasing the risk of missing your revenue growth goals.

Let’s discuss 5 reasons why you should invest in your B2B in-house list 

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Lead Tracking Leads B2B Marketers to Answers

How many leads did your marketing team generate last year? This simple question can be hard to answer for many B2B marketers because tracking leads is a complicated process, especially if you don’t have automated systems in place. However, being able to confidently answer this and other questions around marketing’s contribution to lead generation and revenue will:

  • insure company growth
  • justify increasing budget dollars for your marketing efforts
  • improve marketing’s lead generation effectiveness

B2B marketers need to utilize a system for lead tracking to answer these questions.

Let’s discuss what lead tracking is and how to get started, even if you’re a marketing “team” of one or two, or lack an automated lead tracking system.

What is lead tracking?

One of the most important responsibilities for a B2B marketer or marketing team is to generate leads. In its simplest form a lead is an individual who is interested in your product or service. And a simple lead management process is one where marketing generates a lead, then passes it over to the sales team who “close” the lead as either a won or lost sale.

Lead tracking is the ability to track each lead from initial inquiry via a marketing channel (online or offline) or campaign (digital ad, email, direct mail etc.) response through to a closed sale (won or lost).

This simple lead tracking and management process can get complicated very quickly. For example, is the lead located in a geographic area your company sells into, which sales person gets which leads, how does marketing hand off the lead information, and how does sales notify marketing of closing the sale. These are just some of the lead tracking details you typically need to work through. Read more

Looming EU Data Privacy Regs: Boom or Bust for US B2B Marketers?

If you’re a B2B marketer in the US you’re probably aware of the general trend toward more stringent data privacy regulations. But are you and your organization ready for the EU’s General Data Protection Regulation (GDPR) which goes into effect in May 2018 and applies to both B2C and B2B?

The GDPR applies to any B2B marketer who collects, stores, or uses identifying data (name, phone number, email address, IP address, etc.) about individuals in the EU. So if, like most B2B marketers, you have a database with EU prospects or customers, or use web forms, track web visitor behavior, send email campaigns, use third party lists, or exhibit at trade shows, then read on to learn more about the GDPR and why it could be a bust or boom for your marketing efforts.

GDPR Basics

The GDPR became law in 2016 and requires compliance as of May 25, 2018. The law applies to any entity, not just those based in the EU, so US firms need to understand the law now while there’s time to take the necessary actions. Some particular concerns for B2B marketers include: Read more

Customer Retention: From Sticky Relationships to LTV

B2B customer retention marketing focuses on strategies and programs designed to retain your existing customers and optimize lifetime customer value. In my previous post, B2B Retention Marketing: The First Thing You Must Do, I discussed why B2B customer retention marketing is worth doing and where to begin. Now let’s talk about some strategies B2B marketers can use to retain their existing customers and gain additional revenues throughout the relationship.

Strategies for customer retention

At a fundamental level retaining your customers boils down to keeping them happy enough to continue doing business with you. Many customers, though of course it varies by industry and product/service, will simply maintain the status quo.  Change involves the risk, real or perceived, of an unknown provider. Most importantly, changing providers also involves switching costs.  Switching costs are actual costs the customer incurs (financial fees for early termination) or personal costs (career risks, time required to research providers and negotiate an agreement) to stop buying your product or service and begin with a new provider.

Create “sticky” customer relationships

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To prevent your customers from defecting to competitors who will eventually upset the Read more