NEDMAInno14: The Power of One-to-One - Bob McCarthy
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Subtitled "How to Combine Email, Direct Mail and Telemarketing in The B2B Sales Process," this presentation addresses the question of which of these three tactics is the most effective. Too often today, these one-to-one tactics are viewed as competitors when it fact they are most effectively used as collaborators. This presentation explores how you can combine all three of these one-to-one marketing tactics to increase sales, reduce selling costs and improve the efficiency of your sales operation. Through this presentation, you will learn: - How to build or acquire a B2B list - What specific sales tasks are best for each tactic - Why the cost-per-contact is critical to your decision-making - What to outsource and what to keep in-house - How to calculate (and anticipate) your cost of sale - Why one-to-one works – EVEN with inbound marketing - How lead generation and lead nurturing are different This presentation was developed by Bob McCarthy, President of McCarthy & King Marketing, and was given at NEDMA's 2014 DM Innovations Symposium.
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NEDMAInno14: The Power of One-to-One - Bob McCarthy
- 1. The Power of One-to-One How to combine Direct Mail, Email and Telemarketing in the B2B sales process Bob McCarthy McCarthy & King Marketing event hashtag #NEDMAInno14 McCarthyandKing.com 508-473-8643
- 2. One Funnel Marketing McCarthyandKing.com 508-473-8643
- 4. Selling through the years • Face to Face • Face to Face with Telephone • Face to Face with Telephone & Direct Mail • Face to face with Telephone, Direct Mail & Email McCarthyandKing.com 508-473-8643
- 5. Change your mindset • Think system, not campaign • Support the sales process • Ignore the end game - focus on immediate goal • Be open to all the channels McCarthyandKing.com 508-473-8643
- 6. The way things are … Direct Mail vs. Email vs. Telemarketing McCarthyandKing.com 508-473-8643
- 7. The way things should be … Direct Mail + Email + Telemarketing McCarthyandKing.com 508-473-8643
- 8. Direct Mail McCarthyandKing.com 508-473-8643 PLUS … • Tangible and engaging • Sticks around and gets passed around • Penetration: 90-95% deliverable • Lists are relatively low cost (10-25 cents) MINUS … • More complex to prepare and deliver • More steps needed for reply • Cost: 50 cents - $1 per contact • DIY – printing, postage plus list costs
- 9. Email PLUS … Easy to prepare and deliver Easy to click through for reply Fast delivery and reply MINUS … • Easy to discard or ignore • Penetration: Large percent is never delivered or seen • Lists are expensive ($1) and restrictive • Cost: 1-10 cents per contact • DIY – free plus list costs McCarthyandKing.com 508-473-8643
- 10. Telemarketing McCarthyandKing.com 508-473-8643 PLUS … • Direct and interactive • Easy to shift direction • Difficult to discard or ignore MINUS … • Penetration: few completed calls, many voice mails • List costs are higher than DM, limited availability • Cost: $3 - $5 per contact • DIY – free plus list costs
- 11. It starts with your list Third Party Lists Vs. Your House Lists McCarthyandKing.com 508-473-8643
- 12. Mapping your Sales Process McCarthyandKing.com 508-473-8643
- 13. Cold Calling “I hate cold calling” “I would never cold call” “Cold calling sucks” “Cold calling doesn’t work” “Cold calling is a waste of time” “Cold calling makes me look desperate” McCarthyandKing.com 508-473-8643
- 14. Cold Calling One-to-One Lead Generation IS Cold Calling • Cold Visits • Cold Phone Calling • Cold Direct Mail • Cold Email McCarthyandKing.com 508-473-8643
- 15. Step 1 – Lead Generation • The goal - to identify a potential customer – NOT TO SELL • Go beyond what you already know from your list selection • Determine need, interest, budget, timing • Verify contact names McCarthyandKing.com 508-473-8643
- 16. Step 1 - Lead Generation Lead Generation Options • Direct Mail • Email • Telephone (for small universe size) Also … • Advertising (online and offline) • Paid Search • Website/SEO (inbound marketing) • Trade Shows • Public Relations McCarthyandKing.com 508-473-8643
- 17. Step 1 – Lead Generation Should you ever use the telephone for lead generation? Absolutely, when you have a small universe But you’re not calling to sell. You’re calling • to introduce yourself • to identify a need or an interest • to get the sales process rolling Then move directly to Step 4 – Lead Nurturing McCarthyandKing.com 508-473-8643
- 18. Step 1 – Lead Generation Multi-Touch Lead Generation Is there any value to sending Direct Mail or Email before your Telemarketing call? McCarthyandKing.com 508-473-8643
- 19. Step 1 – Lead Generation How to measure your results For channels that produce a sufficient number of leads, compare: • Cost per Lead • Cost per Qualified Lead (may need to wait until Step 3) McCarthyandKing.com 508-473-8643
- 20. Step 2 – Lead Capture All roads (from all sources) lead to your Landing Page But don’t ignore: Reply mail Reply telephone Reply fax McCarthyandKing.com 508-473-8643
- 21. Step 3 – Lead Qualification Use the telephone to … • Dig deeper into each lead with a qualifying survey • Ask about: • Interest level • Timetable • Budget • Decision-making process • Prioritize leads according to sales potential and timetable McCarthyandKing.com 508-473-8643
- 22. Step 4 - Lead Nurturing Email is King Email is a game-changer for lead nurturing • It’s easy, cheap and can be automated • Frequency is important – don’t let them forget you • Push for engagements – downloads, webinars, demos • Show your expertise and build your reputation Direct Mail still works with postcards McCarthyandKing.com 508-473-8643
- 23. Step 5 – Lead Engagement Enter Your Sales Team • Combine one-to-one tools with face to face • Establish benchmark for sales-ready leads • Integrate sales activity with nurturing activities McCarthyandKing.com 508-473-8643
- 24. In Summary Typical Sales Process • Step 1 Lead Generation – direct mail, email & other • Step 2 Lead Capture – landing page • Step 3 Lead Qualification – telephone • Step 4 Lead Nurturing – email • Step 5 Lead Engagement – sales (face to face) McCarthyandKing.com 508-473-8643