Why do I need 10,000 followers?
Jun 23rd
Photo credit: I don’t know. Probably some porn site. This is an actual Twitter follower of the guy mentioned in the article. If this is a picture of you and you’re not in the porn industry, I apologize. I was just trying to make a point. Now go put on a tee shirt.
Mark – why so few followers when it seems you have great content? Is that part of your strategy? Just looked-thought it would be more …
At first I felt defensive. Well — I LIKE my 400 followers. I’ve only been doing this a few weeks. That seems pretty good. Right??
So I decided to check out the guy who sent me the message. He has over 12,000 followers and 700 connections on Linked-in. I felt Twitter Envy swelling in my chest. Is it possible to exhibit alpha male behavior on Twitter?
I looked over his list of followers and what I found astounded me. Many of them had names like “HelpYouMakeCash” or “Psychic123.” Tons of them had names like “pS5bo1g6″ with no photos. And a very high number featured icon photos with women baring their chest, or nearly so. Who would brag about a community filled with this stuff?
When I get followers bearing (baring?) those attributes I knock ‘em out. First, I’m not in the same game that they are. Second, I would not want any one in my Twitter community I would not proudly introduce to my kids.
What’s the point of all of this social media stuff anyway? I’m writing this blog and Twittering on a regular basis to contribute to the dialogue with a group of insanely cool people. I have learned SO MUCH from you guys out there. I like my new online peeps. I get excited when you respond to a blog post or RT one of my Tweets.
I genuinely want to CONNECT with my growing community but already have some concerns as the followers grow each week. At some point I think it will become too much and I haven’t thought of a next step. I want to be a good community member. Is that possible with a thousand followers? How do we build a sustainable, manageable community with a meaningful dialogue?
A Primer on Lead Nurturing
Jun 22nd
There are many ways to be prospect-centric, but nurturing leads is one of my favorites. If this a concept that is new to you, read on to understand why this is something you want to consider and what steps you can take to get started.
In general, I think too many marketers are focused on getting proficient at generating leads. Instead, I challenge you to focus your attention on what happens to those leads after the initial contact.
Consider the typical scenario: someone registers on your site when they download a white paper or a webcast, and the leads are then collected into CRM system. Typically, there are a few common approaches to following up with the leads:
- The prospect receives an automatically-generated email thanking them for their download and possibly providing links to additional material a user would find interesting.
- Leads are passed to sales, and they may follow up on a few, but if they don’t get a positive response (which is likely as most people who read a white paper or watch a webcast are not sales-ready), they ignore the rest and believe that what marketing is producing is “junk.”
- Telemarketing contacts individuals to follow up, but, unless you get someone at the exact time the want to buy, they’re probably not going to have much luck.
- Leads sit in a database in case you want to reach out to them at some point.
A much better approach is to nurture your leads, which means having a process in place to continually provide touch points to your prospect to move them along the path to purchase (Note: you need to get the customer’s approval to send them additional emails).
There are ways you can make your nurturing programs very sophisticated and use tools to help you automate the process, but you can also start simply. Making a few changes at a time will continually improve your organization’s interactions with prospects; small steps OK! If you are new to lead nurturing, I suggest this two-step approach:
Step 1: Map out your typical buying process and the key people involved in the purchase decision. Then, determine what content would be useful for each person at each stage of the buying cycle, filling in gaps by creating content to use for each person at each stage. (It all comes back to really understanding your prospects.)
Step 2: Create the actual nurturing program, which includes deciding how long you want to communicate with your prospect (ideally, it should be as long as the typical buying process) and developing the customer touch points throughout the process (e.g. emails, direct mail, possible phone calls, etc). In short, you want to continually provide your prospects with targeted content that moves them through the buying process and keeps you top of mind.
Want to learn more?
There is a ton of information available on lead nurturing, but here are a few of my favorite posts on the subject to help you get started (I’d recommend all of these blogs as well):
Unleash Your House Database with Lead Nurturing (Marketo)
Detecting Buyer Roles in B2B Marketing (Digital Body Language by Steve Woods)
Payoff for B2B Content Marketing is Movement (Marketing Interactions by Ardath Albee)
Losing Touch with Leads? 7 Suggestions for Nurturing Programs (This is a post I wrote for my blog, Savvy B2B Marketing)
Let social media pre-populate your business relationships
Jun 18th
This is a picture of me building business relationships in Italy during World Cup. Well sort of.
Let me relate three quick stories that took place in the last 24 hours:
- Yesterday morning, I went to a networking meeting and recognized somebody from his Twitter picture — a fellow I had followed for several months. Even though I had never spoken to this person before, he greeted me like an old friend, asking me about a common interest I had discussed on my tweets.
- In the afternoon, I had a conference call with a potential customer from California. She had read some of my posts on Linked-in forums and was interested enough to go to my website (where she read some of my longer articles) and my blog. Based on my web and social media content alone, she was convinced I was the right marketing “voice” for her company and offered me a significant new business opportunity.
- In the afternoon I received a call off my website. This young entrepreneur had also gotten to know me through Linked-in discussion boards and he referred to recent blog articles. We agreed to meet next week and discuss a new business engagement.
I’m not telling these tales to demonstrate my good fortune on this particular day. I’m providing examples of how a social media strategy can be used to attract potential customers and “pre-populate” business relationships.
What do I mean by this? In normal business relationships, it might take weeks or months of discussions and meetings for a new potential client to know and trust you. Through original web-based content and participation in forums related to my profession, these nice people felt they had a personal relationship with me — before they even made a single phone call.
In effect, I was able to pre-populate the business relationship with my life, talents, hobbies, opinions –and probably a few flaws — to significantly expedite the sales cycle.
Here’s an important point. In NONE of these cases did I actually try to sell something to somebody. One pundit likened social media to a dinner party. If you stand there and simply talk about yourself and your product, people will quickly try to get away from you. But if you offer something of interest, they’ll listen, seek you out, and perhaps become a new friend.
What are your experiences with this topic? Does it make sense to you? How is pre-populating sales leads relevant to your business situation?
Why B2B’s MUST adopt social media strategies
Jun 17th
But after spending a few weeks assessing the state of social media among industrial companies, I’m changing my mind.
To be sure, B2B social media successes have been scarce. According to a 2009 Forrester research study, 86% of B2B companies had NO integrated social media strategy. These are smart folks — if there is a way to market effectively for less, they’ll be doing it. But there are good reasons why there is slow adoption in this segment of business:
- Social media takes time and new skillsets. The recession will depress any rapid change in marketing capabilities.
- In a failing economic environment, the emphasis is on near-term cash generation and survival, not “community.”
- Building a community seems less relevant when you have a small number of known customers tied up in long-term contracts.
- Understanding the shift in marketing channels, customer dynamics and relevance to B2B will take time … and maybe a few retirements.
When the economy improves, I believe mainstream B2B companies WILL make the shift as they understand how technology is already re-defining their customer relationships. Here’s why:1) Sales and marketing is about building relationships … and that’s what social media is all about. The intense, high-value B2B industrial relationships are like a marriage. B2C is a flirtation — gimme a coupon and I’ll go out with you baby. There are probably lots of ways this important, long-term B2B bond can be enhanced through the constant contact enabled by social media, especially throughout a long sales cycle. Perhaps it will take place behind a firewall — most people don’t want to discuss their marriage in public!
2) It’s where the customers are. In some of my seminars, I challenge attendees to find their “truckstop“ — the place where customers hang out. That place has changed dramatically over the past few years. Even baby boomers are spending enormous amounts of time on the Internet. The lines between professional “truckstops” and social “truckstops” are blurring. In the old days, business networking took place on the golf course or at glitzy trade shows booths. Those days are over. We need to find the new truckstops and they’re online (53% of Facebook users are over 35, up from 46% in 2008).
3) Social media can play a critical role in the information-gathering process. The consequences of a major buy are high and purchasing agents use all available means to gather data on your company and product. They’re going to Google the heck out of you. So why not help them and gain an edge by putting quality content everywhere — blogs, videos and social networking communities that can help your cause.
4) It can help build loyalty. Compared to impulsive B2C behaviors, there are probably fewer opportunities to influence direct sales through SM. However, that’s just one piece of the sales pipeline. What about service? Technical support? Product development? Customer involvement and loyalty? I’ve been guilty of focusing too much on the lead-generating opportunities of social media and have not given enough credit to the other parts of the sales cycle.
5) Social media is a way to engage and inspire far-flung employees. Today, every employee can be your best sales advocate or a corporate terrorist. It has never been more important to enlist your employees and engage them through the power of social media. For example, Ingram Micro, the world’s largest technology distributor, has open Facebook sites available by country so their employees can connect and collaborate. IBM, GE and others are actively engaging employees to tell their company story through this global Town Hall meeting.
6) If you don’t engage, it will be done for you! My previous blog showed an example where Dow’s name has been hijacked for several fake social media sites that pillory the company. Today, every customer can be a critic, every employee a reporter, every activist a broadcaster. Without an active voice in social media, your company will be defined by others.
Props: In the best spirit of social media, my enlightenment on this subject was nurtured by blogs and thought leaders such as Chris Brogan, Jamie Wallace, John Bottom, Nathan Egan, and Jason Falls . If you’re interested in social media’s impact on marketing, follow their tweets, blogs and insights.
How is your B2B company coping with the transition to this new world of “community?”
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-Mark SchaeferFollow Mark
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