Tagged: Lead generation

You’re Wrong, B2B Sales is not Obsolete!

by Julie Schwartz, ITSMA

Peter Drucker famously said that the job of marketing is to make sales obsolete. The conventional wisdom is that it’s starting to happen. Whether you call the process a funnel, a life cycle or a decision journey, marketing is said to be taking over the early and middle stages and pushing sales into a marginal role at the end, where contracts are negotiated and signed.

Says Forrester in “The Lead Nurturing Payoff for the Tech Industry”: “Technology buyers are two-thirds of the way through their buying process before they engage with tech vendors’ sales teams.” The Corporate Executive Board joins in: “B2B customers are delaying serious engagement with sales until they are 57% of the way through the purchase process.”

Marketers love these benchmarks. They validate the value that marketing brings to generate leads and nurture relationships. The marketing automation vendors love these benchmarks even more. They prove without a doubt that you need their software to manage your content and fill the funnel, and nurture leads or you will never have another sale.

But here’s a question: As a solutions marketer, does this assertion map to your own experience? Are your salespeople simply answering the phone, greeting pre-sold leads and closing deals?

Didn’t think so. The idea of B2B sales being relegated to the role of order-taker may make us marketers feel like heroes, but recent ITSMA’s How Buyers Consume Information study suggests that the conventional wisdom is just plain wrong.

The New 70%

In the ITSMA survey, we asked, at what stage in the buying process do you find it most useful to engage with sales reps?

  • 24% said during the epiphany stage when I haven’t yet recognized a definite need, but I am learning and exploring the possibilities
  • 23% said during the awareness stage when I have an identified need and I am clarifying my objectives and researching alternatives
  • 24% said during the interest stage, when I am identifying my shortlist.

Add these numbers together, and you get 70%! This means that 70% of buyers want to engage with sales reps before they identify their shortlist.


Enable Sales with Thought Leadership

The best thought leadership creates epiphanies, builds awareness, and generates the credibility needed to get you on the shortlist. Yet getting prospects to consume your thought leadership in a noisy, information-overloaded environment is difficult. Seth Godin notwithstanding, there’s a still a big role for the kind of outbound activity that your sales force excels in.

This isn’t meant to denigrate thought leadership or inbound marketing. Rather, it’s an argument for channeling thought leadership through your salespeople. Give them scripts, tip sheets, and FAQs; help them challenge the buyer’s thinking, drive epiphanies (buyers spend five to six hours per week looking for them), and create awareness of how your services and solutions address their problems.  Marketing needs to help B2B sales behave more like subject matter experts.

The new orthodoxy may say that marketing is now the hero of the purchase journey. In fact, the customer is always the hero, and sales and marketing need to work as partners to provide the compass for his journey.

Secrets Behind the Best Lead Generation Content

In a previous post, I showed that by focusing on thought leadership, marketers can enable sales. But marketers love their deliverables and want to know how to do this. What kinds of content and delivery vehicles work best?

The Best Marketing Content Provides Business Insight and Advice

In our research with RainToday, we found that all companies, regardless of performance, use proof points such as client case studies, success stories, and testimonials. What separates the high performers from the others is content that provides:

  • Insight into emerging business issues and market trends
  • Insight on the application of technology to solve business problems
  • How-to tips, tactics, and advice

Social Media Has Not Yet Replaced Live Experiences in B2B Services Sales and Marketing

We also found success with various offers and live experiences. What kinds of offers and live experiences work best?

  • In-person conferences and seminars (produced by the company itself)
  • In-person conferences and seminars (produced by a third-party; the company is a sponsor or speaker)
  • Introductory/consultative sales call or “warm” phone calls
  • Articles or white papers authored by experts in the company

Are you surprised to see “warm” phone calls on the lead generation best practice list? We were. But if leads are properly nurtured with valuable content, they’ll be more receptive to receiving a call.

This just goes to show that here is no silver bullet when it comes to generating leads. It is the combination of tactics, orchestrated as part of a multimodal, multitouch program rich with thought leadership content, that yields the best results. The one constant throughout the program, however, has to be thought leadership.