Are you using social media to increase your sales? If not, this blog may give you a reason to start. Most of the time businesses see social media as a way to grow brand awareness, but social media can be used for so much more. Not only are you putting content out there to engage your audience but you can also target your typical clients. This approach will let you find the right audience to engage and nurture through your sales funnel.
Customer data management… What is it? Why do we need it? Is there a right or wrong way to use it? Simply put: it is important, because, and YES! Many times sales teams engage with a prospect, forget about the conversation, and they become a lost lead. We’re human of course we forget things from time to time. So, how do we fix this? And what are the answers to those questions, for real...?
What is it? Customer data management (CDM) is the process of collecting, analyzing and managing the data of customers for a particular organization.
Why do we need it? CDM allows for organizations to solve customer’s problems and provide solutions. Nowadays, customer experience is a huge factor when deciding to purchase, a product, use a service, or both. Customer management software tools help us implement CDM within organizations.
Is there a right or wrong way to use it? Absolutely! To accommodate sales individuals, teams, and leaders companies implement different customer relationship management software to handle their customer data management.By looking at these best practicesyou can determine how to best utilize CRM systems to best fit your organization.
"The goal is to turn data into information, and information into insight." - Carly Fiorina, former executive, president, and chair of Hewlett-Packard Co.
1. CRM BEST FIT
With all of the CRM software companies popping up, how do you decide which is best for you? Putting in ample research on each data management platform and being able to answer these four questions will point you in the right direction.
What is your need for a CRM?
What do you hope to accomplish?
What problems will this solve?
What processes can be automated?
Based on your answers on those questions, you should have an idea of which platform might work best for you. Some other helpful tips are to:
Find a CRM that is CUSTOMIZABLE
Everyone’s process is different, make your CRM dashboards work for you. Likewise, you want a flexible CRM that will grow with your business and is able to adapt without needing to jump ship.
Select a CRM that is MOBILE
Does your sales force travel? This will be essential for users that are on the go. From phones, to tablets, to laptops make sure your CRM is easy to read across all devices.
Be sure the CRM you select has the REPORTING you want
The functionality of your CRM is essential to meeting your needs and providing the analytics required. Choose a CRM that has the ability to customize your reports based on your unique data.
2. DATA GOVERNANCE/RESPONSIBILITY
Individuals with control of your CRM is crucial in keeping consistent data on each customer. Assigning responsibility to one group or individual will limit the mistakes that could occur when importing data. Unless you take the right precautions, you run the risk of dealing with multiple non-common data entries which could lead to consistent data.
For example, let’s talk about Infusionsoft’s capabilities. Say you are importing a list of 600 contacts in your CRM. Typically, you group these contacts, or with Infusionsoft, you tag them with certain categories. What if someone who is not aware of these categories imports your contacts without adding any tags/categories?? Well, have fun tagging 600 contacts individually! (Do I put in a plug for DECK 7 here? Or keep it purely informational?) Communication and understanding should be in place before altering the system.
How much data is too much data? This question cannot be answered with a number. Make sure the data in your CRM systems are prospects that you actually want to reach out to. Implement your CRM system for a process that strives for better quality of data quantity. Companies focusing on the usability of the data included in their CRM will be able to focus their priorities. Follow these simple steps to make sure the numbers stay relevant while the quality is stays high:
Define what data is important to your business
Identify how it is best to record it – without cluttering fields with useless information
Keep up with data monitoring and cleansing
4. DATA MONITORING/CLEANING
Data in real time is hard to come by which makes the importance of data cleansing crucial. When setting up your CRM also set up system of when and who will go through your data. Whether it is a team or an individual, monthly or bi-monthly keeping up with your data cleansing will bring a more functional CRM.
Updating contact addresses or verifying their job status can be some things to look for when cleaning out your data. Here are some other simple hacks to keep your data looking fresh!
Name - consistent formatting.
Address - keep your contacts address up to date.
Job Titles - has your contact received a promotion? Changes companies? Keep this information relevant.
Notes - keeping track of who they are, the conversations you had, and what their goals were will help the conversation spiral forward
Looking for a way to make your employees productivity skyrocket? Many CRM systems have capabilities that can guide and strengthen the skills of how your sales team relates with prospects. Education in the platform is important for employees to understand reports and make precise decisions based on analyzing the reports. Even small companies on a budget can find economical training for their employees through online courses. Some CRM software companies offer training once you sign up.
"You don’t build a business, you build people, and then people build the business." - Zig Ziglar
Decisions are very personal and so much goes into them, that oftentimes it is much easier to be indecisive. However, indecision does not support goals. Goal setting is crucial in driving productivity. So, how does one make a decision faster and how do we know that is the right one?
Here are the 3 P's:
With each P, we’ll break down a big decision and a small decision. Say the big decision is career-related and the small decision is a consumer purchase. Each decision we make either helps or hurts our approach to supporting the 3 P’s
What is your personal motto?
Ideally, it helps if your motto reminds you of who you are and what you stand for. Some great personal mottos replace destructive thinking with healthy self-regulation. Some mottos are designed to change a habit. Whatever it is, have one. It will drive your day and through driving your day, it will drive your decisions. Say for example, you see yourself as a leader. Your personal motto is all about helping the people and the organization you lead. Because of that motto, on a daily basis you are practicing being selfless. When decision making, you are checking your motivation and asking yourself if you are doing it for your personal gain or for the benefit of others. I’m imagining it’s the latter.
"Seize the day"
An example for a career related decision is whether or not you should start your own business. Say your personal motto is “Seize the day,” then starting a business may work for you. You drive your own destiny and you want to accomplish as much as possible in one day. Now try to apply that motto to a consumer purchase. You are deciding on what to eat for lunch. If you haven’t yet seized the day, then you are probably looking for a fast option and something that will not prevent you from feeling too full.
"Your choices and decisions are a reflection of how well you've set and followed your priorities." - Elizabeth George
Secondly, what are your priorities? You may be trying to make better business decisions, own your own business, or trying to make more income. Or you may be trying to prioritize your health. Whatever they are, it’s important to know and understand all of them, and also know how they rank. As difficult as it sounds, recognizing your priorities helps you make decisions that ultimately make you happier.
Now, let’s apply your priorities to the same big and small decision we had earlier. You are still deciding on whether or not you should start your own business. You’ve listed your priorities as:
Sure, starting your own business may be costlier in the beginning, and you might not make the income right away, but there may be some great opportunities for more income in the near future. You may have to sacrifice some quality time with your family, but you may be able to provide more for them in the future. You will also have some flexibility with when you’d like to work out during the day. As for your consumer purchase, you are still thinking about lunch. Since your current income may or may not support a lavish lunch, you will likely decide to eat something quick and cheap as you value saving your income to provide for your family highest.
After you’ve determined your priorities, then it’s about relating those priorities to being productive. Your ability to be productive is directly linked to your ability to make decisions, which goes for every area of your life, not just work. Being organized and making decisions go hand in hand. Just to approach a task like sorting mail requires being able to make serious decisions. What to answer, what to calendar, what to ignore and what to delete might take more time than you realize.
Establishing routines and creating systems of how you will approach decisions will increase your productivity. Once you understand that there is a task you don’t want to do, for example, an email you can’t deal with right away it’s ok to do it later. You just need to make sure you are actually taking steps to deal with it later, for example, scheduling time on your calendar to address it. Creating themes of the week when you deal with admin responsibilities, whether it’s bills that need to get paid or snail mail that needs to get opened means you are prioritizing tasks that require decisions. The only problem with saying, I’ll do it later is that sometimes later never comes. Sometimes you need to put your head down, focus, and
"JUST DO IT" - Nike.
ABM delivers the highest Return on Investment of any B2B marketing strategy or tactic. Read how these 3 A’s define why ABM is the way to go.
ABM accelerates the sales cycle.
It is rare in a complex B2B sales cycle, that the buyer is one, isolated individual. Purchasing decisions can and normally do involve over a dozen decision makers. So, why risk pursuing one path?
Because ABM actively targets all of the influencers and decision-makers in a company, ABM deals move faster and get stuck less.
ABM tightly aligns your sales and marketing teams, AND aligns your customer experience.
Often times there is a disconnect between sales and marketing teams. Account Based Marketing requires sales and marketing to focus on the same accounts with specific and common criteria. Once all key stakeholders-execs, SDRs and marketers are completely committed to ABM as a long-term strategy, there is nothing but potential for success.
Because sales have accounts they care about the most, ABM can help marketing focus their resources on these accounts specifically. Through creation of account profiles that identify account objectives, decision-makers, buying process/ responsibilities, media/ channel preferences, company initiatives, impactful trends, needs, and high value propositions, marketing and sales teams can work together to create specific content and strategy.
As for customer experience, ABM delivers the consistently relevant experience that customers demand. The highly personalized approach means that all interactions are aligned across channels and highly targeted to maximize relevance. Your company reads as one unified, compelling story.
ACCOUNT PENETRATION AND EXPANSION
ABM guides intelligent account expansion at existing customers.
Demand Metric published in their December 2015 Report, over half of the low maturity segment members have been using ABM for less than a year, while over half of the high maturity segments have been using ABM for two or more years. Employing ABM is a long-term investment but once alignment happens, account penetration and acceleration are just around the corner.
The perception that ABM is just for acquiring new clients is false. The most mature segment of ABM users is becoming equal or greater from cross-selling and/or up-selling to existing clients. For ABM users with substantial customer bases, this cross/ up selling motive could easily eclipse prospecting as the motive driving ABM use.
We all know that it’s easier to retain revenue and sell to existing customers than it is to land new customers; Account Based Marketing aligns more of the marketing department’s efforts onto these kind of high ROI activities. In fact, the High-Performance ABM Capabilities Benchmark Report of December 2015 found that while the primary motive driving less mature ABM programs is prospecting for new customers, as ABM maturity increases, the motive swings dramatically toward cross/up selling to existing customers.
While cross-selling and up-selling is the way to go, bear in mind the most successful ABM strategies normally include a wide range of content formats and channels, such as display ads, website content, emails, phone scripts, etc.
ABM is a powerful combination of people, processes, and technology that allows marketers to land the big fish by focusing on quality over quantity. ABM is a strategy that targets a full 100% of time, resource and efforts on the named accounts your company decides as having the greatest potential. ABM deal sizes are bigger and research shows that the systematic discipline of ABM significantly out-performs the more ad hoc or unaligned approaches of the past.
high performance abm capabilities benchmark study report
We’re almost in Q4 2016 and it’s getting to that time when we take stock of what’s worked and not worked for us this year before we begin to make our plans and set budgets for 2017.
Here are 7 trends from 2016 that promise to be winners in 2017:
UGC VS. STAFF CONTENT
Companies are getting increasingly better at finding ways to source their content rather than develop their own content. As of the second quarter of 2016, Facebook had 1.71 billion monthly active users, and a fair share of them generate content on a weekly basis. Similarly, though obviously not at the same scale as the Facebook platform, companies are encouraging their users to generate content by promoting the use of company managed blogs and forums, customer and prospect surveys, social media channels, and guest contributing editors to create content for their audiences. If your plan for 2017 is to create all of your own content, perhaps now is the time to think about ways you can get your users to create your content for you as well.
THINK GLOBAL, ACT LOCAL
General purpose content for all audiences no longer works. We are inundated with content every day and content marketers realize that to capture mindshare of their audience, their content needs to stand out from the crowd. How do you do that? One of the most effective ways is by creating and promoting specialized content. Through 2016, we’ve seen that specialized content has come to mean content that is localized,segmented and personalized. We still see campaigns, specially on the B2B side, where content in English is used for lead generation campaigns in countries across Europe or the Far East where content in the local languages would be far more effective. The companies that have seen far better results – by a factor of 10 or more – are those that localized their content. Second, audience segmentation is a strategy that successful marketers use for their content for everything from drip email campaigns to retargeting to specific ad groups. Finally, personalization – this takes the specialization down to a further level, where content is not only in a language that I’m most comfortable with, the messages are specific to my buying “persona,” but that also the content is personalized to me specifically based on my ‘intent data.’
VIDEOS AND PODCASTS AS STARTING FAVORITES
Video has been one of the biggest winners in the past few years, and now podcasts seem to be making a powerful comeback. With increasing download speeds and the ubiquity of mobile devices, video seemed sure to emerge from being one of the most promising media formats to being an extremely effective and popular one. Adding to the appeal of video, is the ease of downloading podcasts and viewing at a convenient time for the user, and we have another winner in the making. In 2016, marketers have found that both videos and podcasts are now powerful formats to engage the different segments in their audience.
QUALITY VS. QUANTITY
Every year we lament the abundance of poor content – either because it was created without an understanding of the audience, or that some marketers use the spray and pray method of content marketing. Either way, we see tremendous volumes of content daily and that volume is only increasing. This also means that poor quality content is receiving even less attention than it used to and poor content or even average content does not provide the ROI that marketers would hope for from their campaigns. A quick and easy way for you to guage the quality of your content is to look at the responses from your audience – this could be the number of likes it receives on social media or the open and click rates if you’re using email marketing. So for 2017, an important consideration would be to focus on the quality of the content you are looking to produce rather than look to increase the volumes and different formats of content you are producing to meet the demands of your omni-channel outreach.
PAID VS. ORGANIC REACH
It was a good time when we could focus only on SEO, or bring in an outside firm to do the heavy lifting, and sit back and watch the leads pour in. Then came social media, and with it the fascinating potential of our content going viral overnight based on the hordes of users that flock to the most popular social media platforms daily for news. Unfortunately, that’s a trend that’s on the decline with the choices for organic growth providing limited potential for 2017. For example, Facebook has recently severely limited the visibility that companies can achieve through organic reach itself. To achieve the same levels of reach, other platforms as well are providing more paid options and forcing marketers to increase their usage of paid promotions to achieve the same visibility. For 2017, this means perhaps factoring in an increase in the budget for the paid component of social media promotions, and also upgrading your content marketing strategy to look for alternative channels of distribution.
INTERACTIVE VS. STATIC CONTENT
One-directional, ‘static’ content has its best years behind it. Even with increasing levels of specialized content being produced in 2016, and we expect this to increase in 2017, there is a limit to how much personalization can be done on the content production side, aka by the marketers. Enter interactive content. By creating content that is wrapped within interactive tools like a quiz or a diagnostic questionnaire or a game, users can now tailor the content they see based on their real-time responses. This ‘gamification’ of content is one of the hottest trends of 2016 and we expect it will continue to grow meteorically in 2017.
No discussion of marketing trends for 2016 would be complete without at least an acknowledgement of the strides ABM has made this year in terms of the growth of the tech to support it, the media fanfare created to promote it, and the increase in the adoption rates of the ABM approach by marketers. While the success of the adopters of the ABM approach is still mixed, there is no doubt that the ABM approach has valuable suggestions for even the most traditional demand generation marketers amongst us. With the increasing levels of specialized content being created, ABM approaches demand even further personalization of content for key accounts - both prospective accounts and well as existing customer accounts. The strong growth of ABM in 2016 as an approach being put into practice by the best marketers around us will continue to grow in 2017 with the advent of new tech that supports ABM.
As you make your plans, the seven trends here can be considered to see how they can help make your plans more robust for 2017. Some marketers will ride the wave of these new trends, while some will deliberately choose to buck the trends and try different methods to innovate. There will be winners and losers on both sides. The future tends to look a lot like the past – and so by an increased understanding the trends of 2016, we hope you will be better equipped as you move into the new year.
TOP 5 CONTENT MARKETING TRENDS OF 2016 SO FAR
THE TOP 7 CONTENT MARKETING TRENDS DOMINATING 2016
THE BIGGEST CONTENT MARKETING TRENDS IN 2017
7 CONTENT MARKETING TRENDS YOU SHOULD BE FOLLOWING