Blogging has never been more important for businesses. Natalie Mootz lists six reasons for this:

• As much as ninety percent of organic search traffic to a business website can come through its blog.
• Fifty-two percent of B2B businesses say that blogs are the most important part of their content marketing success — beating out email, social media, and even in-person events.
• Blogging is the most cost-effective way to reach a niche audience.
• Blogs instill trust in with regular readers, which can lead to warmer leads.
• Blogging enhances your personal authority by giving you a long-form platform to share your thoughts vs. the shorter constraints of social media sharing (e.g. Twitter).
• Entrepreneurs can build their customer database by sharing how they work and what inspires them.

However, getting people to read those amazing blogs you write can be quite difficult. One way to fix this is to come up with killer blog post headlines. As Marko Saric says, there is an art to writing post headlines and bloggers have to master this art in order to attract more visitors.

Fortunately, this ultimate guide will help you master this art quickly! First, you will find out why the headline is the most important part of a blog. Then, you will find a list of fifty-two tips, tricks, hacks, and tools to come up with killer blog post headlines. Finally, you will discover thirty-four proven headline formulas that you can use. Are you ready?

The headline is the most important part of a blog post

Saric emphasizes that the headline is the most important part of a blog post because the majority of people that see your posts will see the headlines only. Without a compelling headline, not many will actually click to visit your blog post. After all, your potential visitors are busy people and you are competing to get their attention and a share of their valuable time. Therefore, to attract visitors, shares, and engagement, you must write powerful, relevant, and eye-catching headlines for your blog posts.

52 tips, tricks, hacks, and tools to write killer headlines

The following fifty-two tips, tricks, hacks, and tools come from Saric and from Kelly Smith, who works at CoSchedule, which is my favorite tool for analyzing headlines.

1. Use CoSchedule’s Headline Analyzer

As I mentioned above, this is my favorite tool for analyzing headlines, so this should be the first tip of this long list. I have been using it for years now (no, they have not paid me to say that). You type in a few different headline options, the Headline Analyzer will list them for easy comparison purposes, and you scroll down to find your Score and Word Balance. Pick the best one!

2. Write at least twenty-five headlines for every piece of content.

Because a blog post headline is so important, it is also important to spend time getting them right. Upworthy suggests writing twenty-five headlines per blog post. That might sound like a lot but you should consider this the bare minimum. Some will be better than others and some will be downright terrible.

I actually wrote twenty-five headlines for this blog post, eventually coming up with this one, which scored seventy-five in CoSchedule’s headline analyzer. The remark about the terrible ones is correct too, I even came up with two that scored forty-eight Just keep going until you have the perfect one.

3. Aim for Headline Analyzer scores of seventy or higher

Anything lower needs improvement. Holding yourself to this standard will ensure you write more effective headlines. So, the score of seventy-five is adequate.

4. Look for inspiration

Newspapers, magazines, and websites can be great idea sources, full of inspiration and ideas for your own headline writing. Keep an eye on them, explore them, learn from them, note interesting styles and formulas, and try and implement them on your own site.

5. Focus your headlines on helping instead of telling

Have a look at the most popular Google searches; they are mostly about solving a problem in the easiest and fastest way.

6. Suggest the best way to do something

Following the tip above, successful headlines connect with common searches and address a real target audience looking for the most effective strategies for solving their problem. Content starting with “The best way to…” has the potential to go viral super quickly.

7. Give advice for improvement

Instead of persuading your readers to do something, show them why it is worth the time to do it. Addressing the reasons and motivations of your readers serves as the basis for a really powerful message.

8. Provide solid evidence to support a claim

Nothing is more powerful than the “backed by science” claim. Insights derived from research are considered more accurate, relevant, and attractive.

9. Share your experience

“What I learned” is another great headline strategy. Speaking to your readers from experience, you gain their trust and you promise a solution that really works.

10. Avoid clickbait

The era of clickbait supremacy is over. If your headline over-promises and under-delivers, readers will leave disappointed.

11. Ensure your headline aligns with your content

Your headline should accurately reflect the angle of your content. Ask yourself what the point is of the piece of content you are writing and what the most important point is that this piece of content makes. If your headline does not address both of these points, it is time to start over.

12. Include numbers in list headlines

Writing a list? Say how many items this list includes right away. This gives readers a clear idea of what to expect.

13. Experiment with open- and closed-ended questions

Open-ended questions are great for encouraging discussion. Closed-ended questions, meanwhile, are effective for inspiring curiosity. Test each to see what performs best for you.

14. Hint at something interesting

Leave out just enough detail to get readers interested (without falling into the clickbait trap).

15. State a problem (and offer a solution)

It can be tough to stoke a problem and offer a solution in one headline. However, when done well, this technique can offer a solid emotional one-two punch.

16. Promise a solution to a problem

This one is a little different. Use ‘that will,’ ‘to,’ and ‘so’ in your headlines. This kind of headline already promises a certain value to be taken from reading the content.

17. Include a stat

People love to see numbers in headlines, especially when they seem difficult to believe. Therefore, if you have a powerful stat in your content, put it in your headline.

18. Know your audience

Make sure you know who your real audience is, and understand what their interests are. Google Analytics can help.

19. Speak like your audience

Use words and language your audience uses, such as jargon and technical terminology. You can get a sense of how your audience talks and what words they use simply by participating in social media conversations with them.

20. Be relevant and topical

Craft headline copy that targets relevant topics and discussions happening in your industry or niche.

21. Use positive superlatives for a strong, emotional headline

Positive superlatives that will help you in headline writing are best, always, fastest, easiest, most, greatest, largest, funniest, hottest, strongest, biggest, ever, perfect, and top.

22. Try negative superlatives to draw on fear and doubt

A study by Outbrain showed that headlines featuring negative superlatives performed thirty percent better than those with positive superlatives. Examples are never, worst, nothing, no one, no way, by no means, none. Featuring words like stop, avoid, or don’t in your headline is a good idea, too.

23. Use trigger words

In addition to the superlatives mentioned, you can use other words that trigger people to click on your blog post after reading the headline. Examples are Amazing, Avenge, Banned, Blissful, Boost, Breathtaking, Conspiracy, Controversial, Cure, Delightful, Discover, Empower, Energize, Exposed, Eye-Opening, Forbidden, Insider, Jaw dropping, Jubilant, Magic, Massive, Mind blowing, Overcome, Payback, Provocative, Reclaim, Skyrocketing, Spectacular, Stunning, Surprising, and Uncensored.

24. Front-load your headline structure

Make sure that your superlative is always at the front of your headline. For instance, “7 Worst Mistakes of Young Startups” sounds much better than “7 Mistakes Made by Young Startups That Are Worst.”

25. Be careful with humor

Avoid puns or jokes because your headline must be understandable outside of its context.

26. Invoke urgency

Is your content time-sensitive? Use words that inspire urgency. For example, if you are writing about an upcoming event with a registration deadline, make sure to urge the readers to register before the time runs out in your headline.

27. Make the unbelievable a reality

If your content includes something strange but true, use that to your advantage. If your content is good enough, your headline will sell the story without resorting to cheap clickbait tactics.

28. Understand the media types where you will use your headline

The length of your headline depends on what you want to do with it; different lengths work for different media like emails, social networks, search engines, and language engagement.

29. Avoid ambiguity and get to the point

If you want to follow the traditional strategy, write headlines that are information and keyword-rich, match the expectations of your target audience, and are understandable even when taken out of context. This also means keeping them relatively brief (if possible).

30. Know the best length for your language

Headline rules are not the same for every language and culture. What works for an English language blog in the United States will not work for a Spanish language blog in Spain. According to Outbrain, if you want your headline to perform well, consider the following for English: it should be between 60–100 characters and 16–18 words long.

31. Align your headlines for the biggest impact

Centered headlines are most powerful visually. Left-centered are more conservative and formal. Avoid justifying headline type as it can lead to bad lettering.

32. Write for search engines to help your readers find your content

Search engines will favor headlines that are shorter than seventy characters (which is relevant if your title tag is the same as your headline). Make sure your headline includes your target keyword as well.

33. Find words your readers are looking for with Google’s Keyword Planner

Use Google Keyword Planner to understand the search terms your target audiences look for. Google’s official support documentation explains how to use it.

34. Try using a suggested search term in your headline

Just type the first words of your headline to see whether the auto-fill suggestions are similar to it.

35. Look for related search terms

This list appears at the bottom of your search page and shows you what terms are related to the one you typed. That feature helps people shake up their searches to find relevant and related information.

36. Narrow your search results

Google Advanced Search will help you to narrow down your search results to see trends for a given region, language, and time frame.

37. Use “you” to address your readers

Address your reader as you. This simply grabs your readers’ attention and helps them relate the headline to their personal experience.

38. Help your readers see a better future for themselves

A headline like “How To Do ___ That Will Help You ___” clearly states the purpose of the content and boosts its accuracy in tackling one specific action or problem.

39. Keep it simple

Readers skim on the web, so use simple headlines with clear language to hook their attention fast. Overly complex headlines may get passed over.

40. Keep in mind, though, that simple does not have to mean generic

Generic headlines get buried and forgotten. Write until you score a winner of a headline.

41. Be specific

Narrowly focus on the one topic your content is about. Consider the main point and benefit of your post, and get granular by telling your readers exactly what your content contains.

42. Avoid passive voice

Use active instead of passive voice because active is easier to understand when scanning for interesting headlines.

43. Include words that reference additional content

If your blog post includes an infographic, guide, template, or other downloadable content, reference it in your headline. This gives readers added incentive to click, and provides more detail about the content your blog post includes.

44. Differentiate your headlines from the competition

Research what your competitors are doing. Identify the expressions, keywords, and phrases your competitors use in their content. From there, you will understand how to make your headlines stand out.

45. Publish headlines that brand your content

Make it easy for searchers to identify key differences between your content and the stuff other people publish. If you feel like your headlines sound exactly what a competitor may publish, write twenty-five more headlines and choose one with the most unique angle. Imagine the possibilities if a reader could read your headline and know it is your content just by its tone. That is the goal you should aim for.

46. Try headline ideas you have not experimented with before

Be creative! Do not be afraid of testing new content on your audience.

47. Use social media for simple A/B testing

Twitter makes quick and easy A/B testing easy. Simply try writing two different headlines, and use them as tweets to promote your content. Then, see which performs best. Over time, you will develop a clear picture of what clicks with your audience.

48. Contradict common wisdom

Is there a commonly accepted “truth” you want to challenge? Write a headline that clearly contradicts it. These types of headlines can generate a lot of attention but make sure you have data and evidence to support your counter-claim.

49. Recycle your old ideas with new headlines and angles

Recycle your content. A great evergreen piece of content can be easily recycled under a different headline based on thorough research meant to broaden the gap between you and your competition.

50. Consider every platform where your headline may appear

It is likely your content will be shared on social media. It will probably be in your email newsletter too. Try to write headlines that can easily be adjusted for multiple formats, such as social media posts and email subject lines.

51. Try alternative headlines for social media

What works well for a blog post might not work as well on social media. Consider writing alternative headlines to promote blog posts across various social channels. This can also be an easy way to test different types of messaging to see what resonates most with your audience.

52. Condense headlines for email

Headlines that perform well in emails are usually around fifty characters long and feature the strongest words at their beginning.

34 Proven headline formulas you should try on your site

Most winning headlines can be distilled down to a fill-in-the-blank formula template, which Saric has conveniently listed for us. These templates can then be used for any topic that you are covering:

1. How To ___________ – Step-By-Step Guide
2. The Ultimate ___________ List
3. How To ___________ In 10 Minutes
4. The Pros And Cons Of ___________
5. The Easiest Way To Make Your ___________
6. 12 Surefire Ways To ___________
7. 8 Shortcuts For ___________ In Record Time
8. Get ___________! 12 Ideas That Really Work
9. The Lazy ___________ Way To ___________
10. 16 Lies ___________ Like To Tell
11. 13 Warning Signs That ___________
12. The Shocking Truth About ___________
13. 10 Things Your ___________ Won’t Tell You
14. How Safe Is Your ___________ From ___________?
15. Do You Do Any Of These ___________ Mistakes?
16. Don’t Do These 17 Things When ___________
17. 16 ___________ Mistakes You Don’t Know You’re Making
18. 11 ___________ Mistakes That Make You Look ___________
19. 15 Things Your ___________ Needs To Hear You Say
20. Unlock The Secrets Of ___________
21. 7 ___________ Secrets Every ___________ Should Know
22. The 16 Essentials Of ___________
23. How To Take Charge Of Your ___________
24. How To Make ___________ Work For You
25. What ___________ Can Teach You About ___________
26. Can You Really Trust ___________?
27. 5 Little Known Ways To ___________
28. 3 Little Known Factors That Could Affect Your ___________
29. Get Rid Of ___________ Once And For All
30. 12 Cool Tools For ___________
31. The Complete Guide To ___________
32. 18 Tips To Jump-Start Your ___________
33. 14 Things I‘ve Learned About ___________
34. 18 ___________ Hacks: A Cheat Sheet For ___________

Evergreen blogs

I hope this guide helps you improve your blog post headlines and that you increase traffic as a result. Content creation is hard and a consistently high quality of content is even harder. One solution to this content problem is evergreen content, which was mentioned in this blog as well. The core topic of evergreen content will be relevant to readers no matter what is going on in the current news cycle or which season it is.

There’s not much debate that Business Intelligence (BI) tools have a profound effect on the way businesses analyze data and make decisions.

There’s not much debate that Business Intelligence (BI) tools have a profound effect on the way businesses analyze data and make decisions.

The value of reviewing consolidated information from all systems company-wide provides a more accurate picture of the health of an organization rather than looking at siloed information one piece at a time. Essentially you have no way to ‘see the forest through the trees’ with that approach. So then the question becomes, “How do I identify which BI tool will be most useful and cost-effective, as well as easy to implement, customize, and maintain?”

If you are currently researching BI tools, the best first step is to determine specific requirements for your company. Once you have those well documented, then it’s useful to take advantage of free trials, schedule proof of concept calls and research tool reviews on trusted sites, (e.g. Capterra, G2 Crowd, etc.).

It’s important to keep in mind that your needs may evolve in the future, so flexibility of the tool may be on your priority list, along with how adept the company’s customer service and technical support capabilities will be to support your immediate and future needs.

Priorities to Consider Adding to Your Requirements Short List

Integration options should be at the crux of your decision-making process. The true value of BI relies entirely on getting disparate data currently housed in multiple systems into the new BI tool. If there are limitations or heavy development work is required, either at the get-go, down the line as you add more data from more systems, or worse… both – that will slow return on your investment and hinder value and results. Look for tools that have at least 100 connectors, that are continually adding more with popular systems, and that are as close to ‘click to connect’ as possible.

Be sure to look for solutions that enable APIs to gather data in real-time. Having the benefit of up-to-the-minute information is far more effective than looking at data that is out of date, if only by a day. You will want an automated data refresh capability that empowers you to customize and set the dashboard publication schedule.

Your dashboards should be collaborative and easily accessed from any browser in any operating system via laptop, tablet or mobile phone. The tool should enable you to create groups of users and share your dashboards and reports based on assigned parameters. In the ClicData interface, for example, you can easily do this by publishing dashboards and embedding them in other websites or web applications.

Ease of use is a strong indicator of how quickly and how systematically a new solution will be adopted into your organization, thus determining your ROI. Drag-and-drop interfaces are instantly understood by users and provide a simple method for connecting to data located both on-premise and in the cloud.

Customizing dashboards to suit specific requirements is also critical. Look for tools that provide easy customization of your various dashboard needs. In ClicData, for example, you have access to more than 50 visualization widgets that empower your users to customize dashboards for different areas of the business or client needs.

Global companies may even want to consider the need to select the location of your data center. This option is necessary if you want to host your data overseas, for example.

Understand pricing models and commitments. Some vendors offer flexible subscription-based pricing while others may require annual licenses based on number of admin and general user seats. Be diligent about uncovering details of required add-on work such as integrations, customizations, additional hardware requirements, etc.

Plan ahead for potential use cases you may want to implement in months or years to come. Sure, that requires maybe a little more foresight than you truly have, but still try to generalize needs and growth over the next 12 to 24 months as best possible. Find a tool that works with key functional areas such as marketing, financial, HR, sales/CRM, logistics and other departments, which will give you room to evolve as your needs change. Take a look at some great examples here.

Keep in mind, one critical, overarching consideration is the time, skill and effort needed to implement, customize, train and utilize the solution you choose. Simplicity is key in helping you achieve quicker results without spending unexpected dollars on development work or professional services. Nothing kills your forward progress, adoption and ROI more than a long-drawn-out implementation of a solution that never ends up meeting 100% any single department’s reporting needs, let alone the entire organization.

Finding a solution that originated as a cloud-based, multi-tenant solution accessible from any device and network is a great start. That means your implementation time, cost structure, reporting accessibility and API / connectivity options will be exactly what’s needed to get going quickly and begin seeing almost immediate value. A fast implementation timeline without the need for a professional services team, plus the ability to integrate with nearly any system should be two of the most critical priorities no matter what your business.

Amazon is likely to hit $100 billion in yearly sales in the next two years with over 175 million active users every month.

Did you know that over 40 percent of merchandise sales are purchased from third-party sellers and that there are currently over two million third-party sellers on the Amazon marketplace? It’s a billion dollar marketplace.

And frankly, it’s number one in everyone’s mind when it comes to ecommerce.

In 2016, it was reported that Amazon Prime was used by nearly half of all the households in the United States.

With those kinds of numbers, there’s no doubt that Amazon and will remain the king of ecommerce for a long time.

Here’s what it gets interesting. Despite the widespread knowledge that Amazon is the king of ecommerce, much of its profit is going into the pocket of the merchants. Thanks to their Fulfillment By Amazon program, third party sellers can sell their own products on the website. This allows them to reach millions more potential customers.

One of those sellers could include you.

Unfortunately, however, there are many misconceptions about how to effectively sell on Amazon. These myths have kept many from making a healthy living.

It’s time to dispel those myths.

You need to invent new products

You don’t need to be a master inventor in order to make a killing on Amazon. Private label products are produced by other companies for the express purpose of being resold by other people under different brands.

Wal-Mart Great Value products are private label and then sold by Wal-Mart. Costco Kirkland products are private label. Shutterstock photos are taken by photographers for the purpose of being reused and branded by other people.

You can purchase products from private label companies, put your brand on them, and then sell them on Amazon.

Being a seller on Amazon is difficult

You’d think it might be difficult to navigate all the ins and outs of selling on Amazon, particularly if you’ve never run an ecommerce store before. But it’s surprisingly simple.

Amazon has gone to great lengths to make everything easy to grasp. They can handle all the order fulfillment. They’re ready to take on the hassle of phone calls, shipping problems, and other issues. You’re main focus is selling.

Yes, you have to pay a bit for Amazon to do all this for you, but considering the ease of it, it’s well worth the cost.

As The Selling Family notes:

Imagine trying to compete with Amazon.com for traffic.

The good news is this: Amazon allows us to sell on their platform, thus SHARING that traffic with us.

Yes, this comes at a cost, but that cost doesn’t compare with trying to build a website and spending money on marketing.

Don’t believe the myth that selling on Amazon is difficult.

Amazon is just like any other website

You may think that you can set up your own ecommerce website and have the same success you’d have on Amazon. Not necessarily true.

Amazon is the absolute king of ecommerce. People use Facebook to connect with friends and Google to search for answers. When it comes to online shopping, nothing beats Amazon.

Amazon is the Facebook and Google of online shopping. It’s #1 by a mile.

Think about Amazon compared to other ecommerce marketplaces like eBay or Etsy. Both of those sites already have a reputation for selling a particular type of product. eBay sellers often sell reused products, which isn’t what Amazon shoppers are looking for. Etsy is known for selling custom made, artistic products. Again, different from what Amazon customers are after.

Amazon is massive, catering to the biggest audience.

As Business Insider reported:

An analysis by Slice Intelligence released this week found that 43% of all online retail sales in the US went through Amazon in 2016, as the e-commerce giant’s market share continues to grow.

According to the study, which analyzed more than 4 million online purchases, Amazon accounted for the majority (53%) of the growth in US e-commerce sales for the year.

Why is Amazon do dominant?

Several reasons.

They have the information of their buyers already saved, and Prime members receive two-day shipping on all Prime eligible orders. Amazon also tends to offer the lowest prices on products, and when you combine that with two-day shipping, it’s almost irresistible.

They make it incredibly simple to purchase.

Don’t believe the myth that you can build you own website and easily have the same success you’d have on Amazon. It’s certainly possible, but requires a tremendous amount of work.

You can’t win these days

There are so many rags to riches stories of sellers going from no sales to hundreds of sales within the space of just a few weeks. It can be tempting that it’s impossible to replicate that same success now.

But don’t think that you’ve missed the boat of selling on Amazon. Just because others have done it doesn’t mean you can’t win too.

Why? Several reasons.

• Amazon is going to keep growing, meaning there will always be a new supply of customers.
• New and improved products are always needed. If you can find a less expensive way or better way to make something, there is a huge potential for profits.
• Certain fads will come and go. One simple way to make money on Amazon is to sell when a fad, like the fidget spinner, gets hot.
• Cultural events make new products possible. For example, during the 2016 election, many Amazon sellers made a killing selling political related items.

There are already too many sellers

Yes, there are over two million active sellers on Amazon with over a billion items sold worldwide by these sellers.

But here’s the deal: Amazon success is always about finding a niche.

Finding a very specific niche allows you to hyper target your advertising toward a very particular audience. For example, if you know the water polo industry inside and out, you know what those customers want. You can customize all your ads specifically toward that audience, which results in much cheaper conversions.

Knowing your niche also allows you to know what products your customers would truly want. Rather than randomly guessing, you can invest only in items that you know will be a success.

Success on Amazon doesn’t come from finding a single, hugely successful product. You’re not trying to develop the iPhone. Rather, you’re trying to determine a few products that a select audience wants to buy.

You’ll be immediately successful

Achieving success on Amazon requires some serious effort. Don’t think you can simply list your product, write a captivating description, and then the sales will start pouring in.

No, it’s not too late to sell, but it’s still essential to know the rudiments of marketing and optimization.

You’ll need to spend time researching:

• Keywords to include in your product description.
• The best categories to place your product in.
• How to optimize the title of your listing.
• How to get legitimate reviews.
• How to acquire new customers.
• How to keep your product in stock, especially during the holiday season.
• And more.

Selling on Amazon does take work. It takes time, patience, and diligence. But if you’re willing to do the work, you’ll also reap the benefits.

Only low prices generate sales

Low prices certainly generate sales, but that’s only one way to make a profit. You also can win by creating a high quality product that retails for a high price. Beats headphones are a great example of this. They are known for their quality which is why they tend to be at the top of the market.

You can also win by creating a unique product that meets a very specific need. If you can find a unique audience that has a particular pain point, you can make a lot of money by meeting that need.

Success requires a huge number of reviews

Are reviews helpful? Yes. But if you can target your advertising effectively, you can still make a significant amount of money without a huge number of reviews. Remember, selling is about hitting a niche, not appealing to everyone.

Certain products may not appeal to a massive audience, meaning you won’t have thousands of reviews. But even 10 or 20 five star reviews can be enough to convince potential buys that you have a fantastic product.

Conclusion

You can still make a great living selling on Amazon. Amazon is the destination for online shoppers. If you want to make money, you should list your products on Amazon in addition to your own site.

Yes, it will take you some time and hard work to reach success, but you can do it. Amazon wants you to succeed. They want you to make money so they can make money.

I was left a voicemail earlier this week by a sales rep that I talked to (briefly) about 6 months ago. His message today was, in summary: “Are you ready to engage with us yet?”

Now, not only was I not ready, I barely remember what his company does. That’s because I haven’t had any communication from him or his company in the last 6 months that wasn’t a direct solicitation to do business with the firm.

As a sales professional or as a marketer, if you engage with a qualified prospect and that prospect doesn’t convert immediately to an opportunity, there’s every reason to stay in touch with that individual over time. But don’t equate “staying in touch” – or lead nurturing success – with simply asking the prospect over and over whether he or she is ready to buy.

There are far more effective strategies for staying in touch with prospects who might, at some point in the future, be in a position to buy or have a need that causes them to want to re-engage. Those strategies might include:

* sending case studies or customer success stories that remind the prospect of what your company does, and the ROI that you’ve helped other clients achieve;

* sending white papers, reports, and other high-value content that reinforce your company’s position as a thought leader, a resource, and a trusted partner;

* inviting the prospect to Webinars or other events that provide real and practical advice or insights about business problems, issues, or opportunities relevant to your solution

Knowing when a prospect is ready to take that next step, or ready to re-engage with your firm, relies on setting an appropriate threshold – a “bar” if you will – for that person to respond to sales or marketing outreach. If you set that bar too high, i.e. if the threshold is “are you ready to talk to sales?”, then only the most highly motivated prospects will ever respond.

Are you ready to buy yet? Why #leadnurturing success means not asking for the sale via @spearmktg

By putting informational content, content of real value (versus content that simply sells your product) in front of prospects on a regular basis, you’ll generate conversations with buyers who, at minimum, have an active interest in solving the very problem or issue that your solution or service can address.

If you absolutely must ask a prospect if they want to talk to sales, there are 2 ways to do so without scaring off the much larger subset who would otherwise engage with your content:

1. Provide a checkbox on the registration form to request immediate sales contact; or

2. Provide a means to contact sales on the thank you page or in the fulfillment email that is sent to the prospect upon completing the registration form.

For a more detailed discussion on this and similar topics, see our white paper: “Lead Recycling: A More Cost Effective Approach to Demand Generation for High-Technology Companies”

 

Newsflash: people’s attention spans are now shorter than a goldfish’s.

That’s bad news for your cold emails, which have an average open rate of just 14-23% to begin with. Not only are you up against an unprecedented amount of inbox filtering and competition, you’ve got to bring your A-game if you want to actually drive results with cold email.

And guess what? Lackluster attempts like “Hey, I’m Jen, and I’m a sales rep…” just aren’t going to cut it.

Statistic after statistic tells us that email marketing boasts one of the highest ROIs of all marketing techniques (as high as 122% in some cases). But if you want to achieve top cold email performance, you need an approach that’s a little different from what other reps are using.

You need an approach that takes your prospects from signup to closure as effectively as possible. Here are seven tips to help get you there.

1. Do Your Homework

Your middle and high school teachers were onto something. Showing up prepared, having done your homework, doesn’t just get you great grades. It can dramatically impact the performance of your cold email campaign as well.

In terms of marketing, “homework” might involve:

• Researching the recipient’s company to be sure you understand how your solution would support their unique business.
• Looking up each recipient’s digital footprint so that you can mention content they’ve created or shared in your message.

A ounce of prevention here isn’t worth just a pound of cure. It’s worth closed-won opportunities and lucrative new business.

2. Build Context

The idea of examining your recipient’s’ digital presences before sending deserves further exploration here, because doing so has the potential to turn cold leads into warmer ones.

Imagine that you take any of the following steps with people you’re about to cold message:

• Following them on social
• Commenting on their blog posts
• Engaging with them on forums
• Sending them non-sales emails (for example, sending your congratulations on a recent guest post)
• Attending in-person networking events with them
• Joining Slack groups in your industry where they’re active

Now, when you send across your “cold” email, the recipient won’t think of you as “Jen, the sales rep.” They’ll think of you as “Jen, the sales rep who thoughtfully took the time to share my blog content and congratulate me on a recent win.”

Which one do you think is more likely to get a response?

3. Personalize Your Messages

Personalization is a hot topic in email marketing these days – and with good reason. According to some estimates, “Personalized emails deliver six times higher transaction rates” than standard messages (though the same survey acknowledges that 70% of brands fail to use them).

Personalization isn’t just a smart business practice. It’s a strategic advantage as well, compared to brands that aren’t yet using this strategy.

Personalizing your messages involves making sure that the content you send in your cold emails is tailored as closely as possible to your prospects’ needs. For instance, you wouldn’t want to send a message promoting a product someone has already purchased, and you wouldn’t want to build your email around pain points the recipient isn’t actually experiencing.

To get inspired about all that’s possible under the umbrella of personalization, check out the following case studies:

• How 5 Retailers Use Personalized Emails For Unbelievable Results
• 12 Personalized Email Examples You Can’t Help but Click
• 45 Examples of Personalized Marketing That Really Work

Once you have a better idea of the types of personalization you’d like to incorporate into your cold emails, look into the features offered by the tools you’re using. If you have a marketing automation program installed, you may have access to a number of personalization options already – from form field replacements to CTA replacements.

And if your current tools aren’t up to snuff, it’s time to do some digging. Add the necessary new additions to your marketing stack to take full advantage of the possibilities of personalization.

 

4. Cut the Crap

Let’s be realistic: your odds of getting a cold email response are slim. Why waste what little opportunity you have with a bad message?

Keep the following three rules in mind as you work to cut the crap from your cold emails:

• Be original. Avoid overused expressions or formulaic templates. If you decide to work off of existing templates to speed up your cold emailing process, customize them so that they match your tone and objectives (and so that you don’t get called out by a prospect who’s received the same message from another sales rep).
• Be generous. Your cold email isn’t the place to talk about how much a sale would mean to you. Self-centered messaging repels readers. Keep the benefits focused on them instead by clearly stating the problem you’re solving and how your solution impacts them personally.
• Be clear. Rambling off a message full of jargon or highly-technical terms doesn’t make you sound smart – and it won’t make your readers want to take action. Keep your message short, sweet, simple and easily-understood. Readers will delete messages they don’t understand.

Not sure if you’re hitting these marks? Do a gut check. Would you be happy receiving the message you’re about to send someone?

If you can’t honestly say yes, rework your email copy until you can.

Learn how to even better put these and other tips to use during our upcoming webinar: How to Triple your Cold Email Success Rate through Personalization, Social Engagement, and Content!

5. Follow Up

This one is kind of a no-brainer, yet it’s amazing how many sales reps fail to take this crucial step: if you send an email and don’t get a response, follow up.

Don’t stop after one cold email. Where most reps go wrong is that they assume failing to receive a response means that the recipients aren’t interested. Some salespeople take it further, concocting stories in their heads about how they’ve irritated recipients or blown future relationships with unsolicited sales pitches.

The real reason most of your cold email recipients don’t respond? They’re busy.

Think about how you handle sales messages. Maybe one or two capture your attention immediately. But most messages hit your inbox when you’re tied up on other projects or are otherwise unable to fully investigate.

That’s why it’s so critical that you don’t give up after your first message. According to Yesware, you have a 21% chance of getting a reply to your second email if the first goes unanswered. That’s a huge number of potential leads or sales you could be missing out on by failing to follow up.

When building a follow-up sequence, consider the following from Tenfold:

“According to a study by Marketing Donut, 80 percent of sales take 5 follow-up phone calls after the initial meeting to close. However, it was found in this study that almost half of salespeople give up after just one follow-up. Having a persistent follow-up plan in place already puts you ahead of the curve.”

6. Watch Your Stats

In a perfect world, the same types of analytics tools marketers have to understand the performance of their websites would be available for email marketers.

But unfortunately, carrying out A/B split tests and other testing protocols on cold emails isn’t always possible, given the low volume most sales reps send and the inability to create an adequate control sample.

That doesn’t mean sales reps should throw metrics out the window. There are a number of stats you can still watch and learn from, no matter how large or small your cold email campaign is.

Personally, the only metric that matters to me is response rate. But you may also find it helpful to track things like:

• Open rates
• Link click rates
• Leads generated from cold emails
• Closed-won/closed-lost rates

Test different messaging within your cold emails and see if there’s any impact on the metrics you’re tracking. Test different subject lines, opening lines and CTAs.

Your tests won’t be perfect or statistically significant, but they’ll still give you the insight you need to improve the performance of future messages.

7. Grow a Personal Brand

One final tip I want to share on the subject of improving cold email effectiveness has to do with growing a personal brand.

Imagine you receive a cold email, and you notice that the sender is someone you’ve seen writing for publications in your industry, interacting in forums or maintaining an active social presence. Are you going to be more likely or less likely to open that message than one from a sender you aren’t familiar with?

Of course it’s the former. When you take the time to build a personal brand, you’re no longer an unknown quantity – or even a cold email at all. Instead, you’ll see more opens and better cold email performance, all because of the name you’ve built for yourself.

People build personal brands in all different kinds of ways, but a few to try might include:

• Publishing thought leadership articles to your blog
• Contributing guest articles to other industry sites
• Developing content for LinkedIn Pulse
• Producing SlideShare presentations
• Speaking at conferences
• Hosting webinars

Essentially, anything that puts your knowledge on display for your target audience has the potential to build your brand – and to increase your cold email success at the same time.

Use these strategies as a starting point for improving your cold email performance, but don’t think of this list as comprehensive. If you’ve got another technique, add it to the list by leaving a comment below:

The post From Signup to Closure: 7 Things to Remember While Sending That Cold Email appeared first on Sales Hacker.

Twitter is crowded.

As of Q2 2017, the micro blogging platform averaged 328 million monthly active users. That’s about four times the population of Germany. Or 8x the population of Argentina. Or 32x the population of Portugal.

The growth of Twitter monthly active users (source).

See my point? Not everyone on Twitter is interested in you and your products.

How do businesses effectively segment their audience; and reach out and market their products to the right person on Twitter?

Enter Twitter Hashtag (#)

The humble yet powerful Twitter Hashtag (#) help connect businesses to consumers by grouping specific trends or subjects. This means that you can reach out and market products to the correct target market.

By sharing content and effectively using hashtags on Twitter, you can achieve marketing and branding goals for your organization at little to no cost.

Before we delve deeper into this, it’s vital to remember that as a business, your method of using Twitter would be different from the average consumer. Make sure you have a plan and that it defines clear goals for your business!

Also, according to Pankaj Narang, Founder of Socialert, it’s often unproductive to engage agencies who are paid to get hashtags trending. This often results in getting a report without any solid leads to profit generation. Instead, consider building your marketing campaigns carefully on your own and watching them grow organically by taking into consideration the real needs of your customers coupled with the strengths of your company and products.

It also helps to co-ordinate your social media plans as part of a larger marketing strategy. Your plans should be constructed with an aim towards achieving overall business objectives. This might sound a little complicated, but here we’ll share with you a couple of tips on hashtag marketing that will help you out.

1. Tie in with quality content

Consumers today are in general much more astute than before and to be honest, they are over-saturated by advertising.

This is no different on Twitter, since you’re competing with masses of other businesses there as well. By creating quality content that truly relates and is of interest to your target market, you will have much better results than the competition.

In terms of hashtag marketing, this falls into a few distinct areas for you to focus on:

1. Event-based
2. Lifestyle-based
3. Product-based

Event-based hashtags

Event-based hashtags are tied directly into something that’s happening, which means that the lifeline is short and focused. Take for example a store-wide sale that lasts for three days.

Example: “Join us for great #discounts as we hold our annual #sale at #JCPenney and get your penny’s worth! 3 days only! (shortened hyperlink)”

Lifestyle-based hashtags

Lifestyle-based hashtags would be what are considered in the marketing world as “soft-sell”.

Example:“#Winter can be cold, stay #fashionable and warm with #leather this fall with our new collection at #JCPenny (shortened hyperlink)

Product-based hashtags

Product-based hashtags focus on specific items anytime.

Example:“Just in: 3000 thread count pure #egyptiancotton #linens at #JCPenny. You’ll feel more pampered than every before! (shortened hyperlink)

Aside from that, it also helps if you’re creative in your content and include interesting media such as images or video. A picture tells a thousand words and nothing screams sale like:

A picture can often convey a message that people might otherwise miss in text.

2. Create brand identity

This is not a new concept in the world of advertising and marketing but it works just as well on Twitter than it does in real life. Twitter as a tool for building brand identity is a veritable treasure chest and can be utilised in so many ways it will boggle your mind.

Consumers in general usually recommend brands or products they are familiar with. The challenge is getting to become one of those brands. By using Twitter to build your brand identity you’ll be able to break into that zone of privilege.

As examples of this, you’ll probably be familiar with terms such as “You’ll never walk alone” or “Have a break, have a KitKat”. The prior is associated with the Liverpool Football Club, while the latter, well, KitKat. These have translated successfully onto Twitter as #YNWA and #HaveABreak.

Brilliant hashtag examples that are simple yet impactful.

Creating a hashtag to identify with a brand can be a powerful tool

Through these hashtags, the businesses have avenues through which fans can share their love of the brands in varied and colourful ways that only the masses are able to achieve. In short, the brands are getting their fans to do their marketing for them!

One thing to note about this strategy though is to try and anticipate how it will be used. By thinking through the creation of your hashtag identity or branding, you’ll be able to avoid embarrassing fails later in the game.

Take for example what Bill Cosby’s team tried when they created the #Cosbymeme hashtag. Obviously, they were hoping to make use of the power of their fanbase and create hype about the star. Very unfortunately for them, this is a sample of what went wrong:

Think hashtags through to avoid dangerous pitfalls

3. Ride on recent trends

This is especially useful for smaller businesses that may otherwise lack the clout of many bigger players on social media. It’s unlikely that people would be searching for #TomsPremiumSalmon, so there’s always the possibility of latching onto specific trends on Twitter.

The first place to look for trends would of course be on Twitter itself. Although some websites that offer tips and so on might be useful, Twitter would have the most accurate information since the information is natively on that platform.

Let’s say Tom notices that a current trend is #fishoil. The obvious thing for him to do would be to latch on to that and tweet for dear life:

“#TomsPremiumSalmon is wild-caught and a fantastic #healthfood rich in #fishoil and tastes AWESOME!

By following trends, you may be able to capitalise on them and push your brand or product further

Trendsmap, #Hashtags.org, and Hastagify are some other sources of trending hashtags you can have a look at.

There are of course many other sites that offer paid services including trending hashtags, monitoring and analysing, so you’ll have to find the right balance of price versus performance that suits your level of business.

Other points to take into consideration

While the tips on hashtag usage can form a list that is miles long, there are some very basic things to keep in mind overall when engaging on Twitter.

First and foremost: You only have 140 characters.

Make them count. If you’re not able to afford a copywriter full time, at least consider engaging one that is experienced and willing to work with you on a campaign of freelance basis.

Keep in mind that your tweets often reflect directly on your business. If you expect your sales staff to be professional, then don’t expect less from the person who is tweeting for you. Twitter for business is not just something that’s done “just because everyone is doing it”, but is a direct representation of your business on the social media space.

Track your campaign results and stats

At the end of the day, go back to the basics, which is to recall why you’re on Twitter. Once you’ve started Tweeting following (hopefully) well laid out plants, it’s time to learn how effective your hashtags have been.

Here, it’s important to not fall into the ‘vanity trap’. This means that you should judge how effective you’ve been by looking at hard metrics such as leads generated, sales figures and conversion rates. This is what powers your business, not the number of likes or re-tweets you get.

By following sales numbers in parallel with your Twitter marketing campaigns, you’ll be able to build a picture of what works and what doesn’t. Here you’ll discover that what’s most popular, isn’t always what’s best for your business.

To more easily achieve this, you might like to consider using some of Jason’s inside tips and hacks in this article.

Also – there are plenty of freemium tools that help you keep track of the performance of your twitter campaigns and break it down into hard metrics for you. Hootsuite, Social Bakers, and Hashtracking are some that you can try.

Most of these sites do cost some money, but consider it an investment into your social media marketing. After all, wouldn’t a print ad cost you money as well?

At the end of the day, don’t be afraid to go back to the drawing board if you’re finding that your marketing hashtags aren’t working. Sometimes, the most unconventional ways of using hashtags end up being the most successful.

Conclusion

Now that you’ve got some idea of how tweets can make (or break) your business you’ll probably realise exactly how important your hashtag marketing strategy can be. Always remember that your reputation is in providing real value to your target market in some form or another.

Make sure to use hashtags intelligently and blend them seamlessly into your Tweets so that they look natural, while at the same time reaping the marketing benefits.

Be consistent, stay engaged, and listen to your audience as they interact with you and we assure you, like Liverpool, #YNWA.

In my last post on How to Optimize Your Marketing Funnel, part 1 we went over the first 4 steps where you:

• Investigated and defined your buyer personas’ decision process
• Created compelling content …
• That met your buyer personas’ needs (and her influencers’) at different stages in their decision process, and
• Published/shared compelling offers with CTAs and Landing Pages for your content as widely as possible.

Now it’s time to focus on setting up your lead nurturing efforts, tracking results, and analyzing them for insights.

STEP 5 – Create lead nurturing workflows (aka “drip campaigns”) that anticipate your buyer persona’s information needs.

By now, you’ve captured some leads and it’s time to start sharing additional information with each lead. Based on the content each one has consumed to date, you should have a good idea of where each buyer is in their journey.

Armed with that knowledge, you can create a series of emails that speak specifically to some of the questions or concerns they are probably grappling with at that stage. You help them resolve and work through those barriers with offers of additional content you’ve specifically created for those conditions.

And each one of the offers in your emails is another opportunity to deepen your relationship with them. In such a fair exchange of value (your information for their information), you are accomplishing a number of very important things:

You are educating each lead by providing objective information of various options and potential solutions. This empowers the lead and encourages the impression that you are a credible, reliable source that can be trusted.

Your lead is getting into the habit of saying “yes” to you. Each little commitment, each form they fill out, each piece of information they consume, is a repetitious act. In effect, they’re nodding their heads, deepening their trust in you and lowering their barriers to let you in. When the time comes for you to make a big “ask”, it becomes easier for them to say “yes” and harder for them to say “no.”

The longer your buyer persona’s decision process is, the easier it is for them to forget you. Lead nurturing provides the

ideal way to stay in touch with them, pulling them through the funnel while qualifying them as a potential customer. Lead nurturing, when done right, is not only welcomed, but becomes an eagerly anticipated “event,” instead of being felt as intrusive or confrontational.

Let’s go back to our example of our project team leader who’s been guiding her team through a process to make a buying recommendation to their GM. She’s downloaded several pieces of information and shared them with her team members. These folks, in turn, have gone up to your website and discovered other information and downloaded different items that speak to their specific interests and concerns. In your leads database, you now have information on all those people. If you’ve been paying attention to your reports, you’ve anticipated this development and already set up different email workflows that have rules such as:

• Read these [specific] blog posts [Ah, a visitor]
• Downloaded this white paper [Yippee, a prospect!]
• Watched this video [Yes! Now they’re a qualified lead!]
• Set role = “influencer”
• Set department = “finance”

Your content map shows that this person is in MOFU [middle of the funnel]. Since your content map was based on this buyer’s journey, you figured out that he needs more specific information to show him how your product / service can solve their company’s (and his) problem.

You now decide to set up a series of emails to offer individuals who meet these conditions even more exclusive, detailed information they might not find just browsing on the site. Based on their response to this first email:

• Those who download the information offered continue with this email series.
• Those who don’t download the offer get a different set of emails.

You see, you’re tailoring your communications based on either your prospect’s behavior (most effective) and/or the timing of their actions or events so you keep them moving through the funnel. All of which hopefully will lead them toward the inevitable conclusion that your solution lands at the top of their recommendation list.

But — wait a second —­ how did you know:

• Those email rules were working?
• How effective the emails were?
• That they were ready to look at the next information?
• That you were sending them the right content? When to hand the leads off to sales?

So…how DID you know?

You knew, because you’ve been doing Step 6 — tracking, testing and analyzing data —which we’ll cover next time in Part 3 of How to Optimize Your Marketing Funnel.

Have you ever launched an Inbound marketing plan that you thought was perfect but then it backfired? Maybe you generated a ton of leads with quality content, but when you passed them to sales, no one converted. Maybe your marketing WAS successful, but you didn’t have the right metrics in place to demonstrate your success to the powers that be.

How Marketing Pros Fail

While many marketers understand marketing best practices, they fail to execute an overall strategy, and ultimately they fail at their job. Here are the six reasons why:

1. Overemphasis on website design at the expense of the overall marketing plan – Most B2Bs expect the website to generate leads because it looks good, communicates, can be found in search engines and communicates the company’s value proposition. Company websites, though rich in product descriptions, are often little more than digital brochures that fail to provide sales qualified lead generation (SQLs).
2. Lack of an Effective Underlying Digital Marketing Strategy – Conducting digital marketing in an incremental, non-holistic way is very inefficient because it creates a lot of redundancies in the effort that is involved to setup each strategy and it also makes things harder to manage and measure on an ongoing basis.
3. Lack of Insight Into Your Buyers and Their Process – You know the saying garbage in garbage out? Well, that’s what you have if you’re basing your marketing decisions on inaccurate assumptions about your customers.
4. Lack of a Reporting Structure That Closes the Loop Between Marketing and Revenue – Your overall strategy must include a plan to accurately and efficiently track ALL of your campaigns from entry and conversion, through to SQL and sales revenue. Pulling if off requires planning and a wide range of skills.
5. Sending Unqualified Leads to Sales, Wasting Their Time – The combination of poor strategy, poor buyer insight, and poor measurement ultimately leads to horrible results with lead generation. When marketing provides poor quality leads, the relationship between sales and marketing is strained, almost to the point of complete distrust.
6. Not Taking Advantage of Marketing Automation Tools – More than half of B2B companies (55%) have already adopted marketing automation. Yet, here’s the big problem and another opportunity: Only 21% believe they are using it effectively and only 3% can say they have achieved Marketing Automation nirvana.
7. Inability to Produce Remarkable Content Consistently – Most B2B marketers understand the importance of creating engaging content but many struggle to succeed at producing it. Why? There are three key factors that contribute to this problem. We already talked about the first two: buyer insight and measurement. The third is lack of an efficient content production operation.

How many of these resonated with you? Whether it’s one of them or all of them, you know something has to change, right? The BIG problem is that Inbound marketing can become unwieldy without a solid strategy. In my next post, How Digital Marketing Works and What is Closed-Loop Digital Marketing, I will show you where marketing professionals fail in their digital marketing approach and how an innovative account based closed-loop methodology solves those problems and generates results.

Salespeople the world over are duking it out over the best strategy: cold calling or social selling. Which one delivers the best results? Which one is hype? Which one, ultimately, is the best for your business?

This debate, like so many in the sales and marketing space, will probably never have a clear-cut winner. And that’s because there is no one-size-fits-all tactic that can universally work for every situation and every product or service.

Let’s take a look at both sides of the coin, so you can determine which one (or both!) is right for you:

In one corner: Cold calling

Cold calling is the name brand heavyweight in this battle. It has been a mainstay of sales teams for decades, and has an impressive track record.

Although it might be less glamorous than social selling, cold calling still has its many adherents. They maintain that by reaching out to many prospects, and using the right sales pitches combined with persistence, your team will hit their quotas and then some. Cold calling cuts through the noise that decision makers face in their everyday life, and puts your business top of mind.

In the other corner: Social selling

Social selling might not have the weight that cold calling brings to the fight, but it is quickly growing in popularity. And it’s not difficult to see why: by leveraging new tools and tactics, sales teams are seeing great results.

Those on this side of the debate say that social selling provides more context and better touchpoints than cold calling. It allows salespeople to learn about their prospects using social networks, and apply this learning to their sales pitches.

New stats bear out the benefits of social selling. According to research from LinkedIn, 78 percent of social sellers outsell their peers who don’t use social media, and leaders in the space are 51 percent more likely to reach their quota.

The champion

So, which tactic wins the title?

Really, there is no clear winner. Cold calling has the benefit of a long history of success, and with the right team and leads, can deliver stellar results. At the same time, social selling provides insights into the needs and pain points of your audience that weren’t accessible years ago, equipping your team with the knowledge they need to close.

Both tactics can be effective on their own, but we’re fans of using them together. The data gathered via social selling can be used to make cold calls more targeted and effective. Plus, if you are engaging in both cold calling and social selling, you have more touchpoints and opportunities to engage with leads than if you primarily focus on a single tactic. In the end, if you have the ability to do both, you can test and see which one – or which combination – works best for your business.

U.S. companies spend over $900 billion on their sales forces – three times more than they spend on all advertising media. However, sales teams deliver only 50% of the revenue performance that their strategies and sales forecasts have promised.

While sales processes, training, compensation plans, technology, marketing support, and product lines matter, sales reps who simply dislike – or hate – their jobs is one of the most understated and overlooked aspects impacting sales force performance today.

Gallup’s “The State of the American Workplace” found that employees who are engaged – those people who don’t hate their jobs – are more likely to improve customer relationships and increase sales performance by 20%.

And while today’s senior sales and HR executives are working hard to create a workplace that allows individual reps to thrive – monetarily and mentally – cultivating a high-performing sales force has become increasingly difficult. According to the latest study conducted by salesforce.com, a mere 20% of B2B sales teams are considered “high performing.”

So, if you are a senior leader reading this article, it is statistically likely that your team is falling short of their revenue goals. Extended sales team underperformance causes a downward spiral where missed targets lead to low commissions which damages morale and increases turnover.

This damaging cycle must be stymied immediately and it can start with understanding if and why your reps hate their job.

To begin that process, here are the top 5 reasons sales reps hate their job:

1. Sales Goals are Unrealistic

All great salespeople set aggressive goals for themselves and excel when challenged. However, unrealistic goals can be demoralizing or even lead to inappropriate behavior. A Harvard Business School paper titled Goals Gone Wild found that indiscriminate goal-setting can lead to increased unethical behavior, distorted risk preferences and corrosion of organizational culture. Last year, because of relentless sales goals, Wells Fargo employees opened more than 2 million fraudulent accounts which cost them their jobs and their clients $2.4 million in fees.

In Annie McKee’s book titled How To Be Happy At Work she aptly noted that “when ambition is coupled with hyper-competitiveness and a single-minded focus on winning, we get into trouble. We become blind to the impact of our actions on ourselves and others; relationships are damaged and collaboration suffers; we start chasing goals for the sake of hitting targets; and work begins to lose its meaning.”

Ultimately, the best salespeople excel when pushed, but unachievable goals lead to stress and resentment. It is important that C-Suite executives have a firm grasp on reality when it comes to setting quota and revenue targets.

2. The Product is Terrible

In some cases, poor sales have zero to do with the capability of your sales team, but everything to do with product flaws. Bill Gates cites the enormous flop of the 1957 Ford Edsel as his favorite case study in this regard. Ford invested $400 million in what was supposed to be the car for the middle class. Unfortunately, the Edsel had oil leaks, sticking hoods and trunks that wouldn’t open; Americans wanted a smaller and more economical car. When teams are losing – be it in business, the military or sports – people often start looking for someone to blame. But, as author and sales training expert Colleen Francis correctly notes, executives need to “think less like a judge and more like a diagnostician. They need to see failing sales as a symptom of a problem and spend more time asking why it happened rather than on deciding who is to blame.”

3. The Company is Full of Toxic Employees and Bosses

Data crunched from 50,000 employees at 11 companies found that top talent is 54% more likely to quit when they work for  or with a toxic person. Getting the right people on the bus – and knowing when to tell toxic employees that this is their last stop – is essential to sales team success. With 4.7% unemployment, corporate America is currently facing the most competitive war for talent since 2001. To win that war, companies need to identify and remove toxic employees and have a structured, rigorous and scientific recruiting process in place to attract and retain true A-players.

4. There is a Lack of Administrative Support

Good salespeople thrive off the thrill of the kill. They do not like filling out mounds of paperwork. Selling Power Magazine recently cited a study that found the average sales rep only spent 10 percent of their time actually selling. Paperwork, administration, travel and other duties suck up the rest of the time, dramatically reducing sales productivity. After reviewing sales data from 40 companies in technology-related industries, McKinsey’s global sales and channel practice found that the best sales teams split their workforce 50/50 between those in a pure sales capacity and those in support roles. To keep reps happy, it’s important to ensure they have the support that they need to sell and make their numbers.

5. The Compensation Plan is Below Market

The Human Resource Management Journal, which collected data from face-to-face interviews at 1,293 private sector workplaces, released results in January that performance-related pay – such as sales commission – was positively associated with job satisfaction, organizational commitment, and trust in management. Yet, Peak Sales Recruiting’s 2017 Sales Compensation Report found that 70% of employers are not putting appropriate compensation plans in place to retain A-level talent. With talented salespeople tending to be coin operated, aggressive, and risk-loving individuals, they want a compensation plan where earning potential is unlimited. When compensation isn’t at or above market, sales reps begin to hate their jobs. It’s why High-performing sales organizations have been found to consistently reward their talent with compensation packages that are above market. To create a winning compensation plan that aligns with company goals, it is critical to make them achievable, easy to understand, and uncapped.

The bottom line is that happy employees are more engaged and perform better than those who feel marginalized, underpaid and mistreated. By understanding the five reasons why sales reps hate their jobs, senior executives can take action that will lead to a dramatic increase in performance, happiness and revenue.

The post 5 Reasons Your Sales Reps Hate Their Jobs and What To Do About It appeared first on OpenView Labs.

It’s easy to get lost down the rabbit hole of metrics for your business. When it comes to getting the most out of your website performance, only certain metrics are what you can consider key performance indicators. The trick is figuring out which ones.

What are key performance indicators?

A key performance indicator (KPI) is a quantifiable activity used to measure how a key aspect of your business is operating or how much volume it’s receiving. For websites, this can include “sales volume,” “number of visits,” “average cart value,” and a variety of other metrics.

KPIs are metrics, but not all metrics are KPIs; the terms aren’t mutually exclusive. Just because some information is measurable, doesn’t mean that those measures are informative. It’s important to prioritize the most valuable KPIs.

Macro conversions vs. micro conversions

Your metrics are either leading to “macro conversions” or “micro conversions.” Macro conversions are the primary goal of your website, to convert user traffic into revenue.

On the other side of the coin, micro conversions are actions a user completes that are either on the path to revenue-generating macro conversions or not directly related to revenue-generation at all. Micro conversions are process milestones or secondary actions

This can be like number of checkout visits, pageviews per user, cart adds, etc. But micro conversions are not KPIs – learn more on why you should not focus on micro conversions.

Which metrics are not KPIs?

On average, the metrics that can take a backseat are pageviews per user, click-through rate, bounce rate, and the average time a user spends on-site. Basically all metrics that are not money. Is it better that someone spends more time per visit on our site, or less? Impossible to say. Is it better if someone spends more money on our site or less? No question.

Other micro conversions include visiting the checkout page, adding a product to the cart, the number of pages visited, and several others. These may indicate interest, but don’t help you persuade the user to click “purchase.”

Should we bother monitoring micro conversions at all?

Jared Spool at CXL Live 2017

“Visitors are important — no visitors, no sales — but they aren’t as important as sales. There are many metrics that aren’t key to the business, so we need to pay less attention to those.”

There is no dollar amount attached to these actions. While these things are great, they don’t lead to getting paid for your services.

That’s not to say you shouldn’t monitor these metrics and micro conversions at all. It’s helpful to follow these metrics because they inform you of which areas of your site or service need attention and lay the groundwork for future conversions.

You should just make your decisions based on the “money metrics”, not micro conversions.

Here are the four KPIs that really matter for website optimization

1) Revenue per visitor

Revenue per visitor (RPV) is simply the average amount of money you made per visitor.

RPV is the god metric because it provides direct insight into which website actions ultimately translate into dollars.

2) Conversion rate

If you can’t measure money (e.g. it’s a lead generation website, nothing is sold), conversion rate is the next best thing.

3) Customer Acquisition Cost

Gaining customers requires a certain financial investment. Your budgetary number for how much you spend to acquire a customer is known as the “customer acquisition cost” (CAC). The initial cost per customer should be less than the profit made once they’re converted (or be lower than LTV if you know it).

The goal here is to perfect your processes so you minimize your expenditures and time, thereby maximizing your profits.

David Skok, ForEntrepreneurs.com

“If you are entrepreneur planning your next business, you can’t afford to ignore the cost of customer acquisition. The earlier you work on this the better, as many of the best techniques require you to build your product differently.

It is also important to ask yourself the question: can my business realistically expect to acquire customers for considerably less than the amount that I can monetize them?”

When a model is balanced, it looks like this:

Courtesy of Forentrepreneurs.com

Essentially, the biggest reason for the collapse of many startup companies is because their version of the above graphic is inverse. Their CAC exceeds their LTV, or lifetime value, for their customers.

Once ConstantContact figured out their LTV, they were able to spend much more on acquisition since they know how much they can:

“The average Constant Contact customer stays with the company for 45 months. At their $39/month price point, this means that a customer generates about $1,800 in lifetime revenue, allowing Constant Contact to make money at a CPA (cost-per-acquisition) of $450.”

Be careful giving this too much weight, though: sometimes LTV metrics lie.

4) Customer Lifetime Value

One could make the argument that the most important KPI should be LTV, which is “a prediction of the net profit attributed to the entire future relationship with a customer.” Essentially it’s how much money you make off of a customer over their lifetime as your customer.

Evaluating your most useful customers over their lifespan is essential. You need to establish how much a client is worth over the long haul.

For example, let’s say three customers join your subscription product at the same, paying $50 per month. One stays as a customer for a month, second one for 3 months and the third one for 2 years. While all 3 of them paid $50 when they joined, their LTVs were *very different*: $50, $150 and $1200.

The customers do not provide you equal value, and the quicker you can predict who is a high LTV customer, the better.

However, it can be difficult to measure LTV and only around 40% of companies are able to measure customer lifetime value. The only way is to gather information and assemble it in a predictive model, which features extracted data extrapolated and used to predict customer behavior.

What goes into the LTV formulas?

Calculating LTV depends on your business model. Here a typical formula for calculating LTV in SaaS:

Courtesy of TechCrunch

(MRR is monthly recurring revenue).

A customer making a direct purchase is high value, but these customers also have other behaviors that are valuable to your company as well. (Examples including indirect marketing, such as word of mouth and referrals.) Tracking these traits and behaviors, like site visits, factors into creating the most useful LTV model.

Why are these formulas important?

The main value of these formulas is to give marketers an idea of where to invest their budget and how much to spend to acquire a customer. Having the upper hand on prioritizing and engaging high-spenders with hyper-focus makes marketing much easier.

Additionally, knowing your company’s income over time for a particular customer allows you to decide if you can discount services while still making financial gains, build value upfront, and drive customer traffic to your page.

With the right tactics, you’ll be able to develop a strategy to earn back the cash you spend, and even profit.

How Model LTV

How can you predict customer’s LTV at the time of acquisition? It’s hard.

Peter Fader, Professor of Marketing at The Wharton School

“It’s tricky to calculate LTV accurately for newly acquired customers because (obviously) you have so little transaction data for them.

But you do have some useful information about the nature of the acquisition process, e.g., the channel of acquisition, maybe some funnel/campaign information, and info about the first transaction itself (e.g., item purchased, the price paid, any discounts applied, etc).

You’d know something about the LTVs of previous customers acquired with each of these various characteristics, so you can come up with a decent “guesstimate” for the new customer by taking a weighted average of these other customers with weights determined by how closely this customer resembles others based on these factors.

At first, this may seem complicated, but it’s not. In fact, companies can automate this into a near-real-time process, so they can get an instant-read as to whether the new customer might deserve VIP-level treatment at a very early stage of the relationship.”

The best way to do this is to use a software to automate your data collection, and software services like Custora and Zodiac are helpful in achieving this. Various Google spreadsheets also exist for doing your own modeling.

Predictive LTV model

So how does one go about building a predictive model? Hire a data scientist! For those of us who don’t have one in-house, here’s how you would go about it.

A good working equation is:

(Average Value of a Sale) X (Number of Repeat Transactions) X (Average Retention Time in Months or Years)

The gym membership

Here’s an example of a gym membership to illustrate this point:

“An easy example would be the lifetime value of a gym member who spends $20 every month for 3 years. The value of that customer would be:

$20 X 12 months X 3 years = $720 in total revenue (or $240 per year)

Now you can see even from this hypothetical example why many gyms offer a free starter membership to help drive traffic. Gym owners know that as long as they spend less than $240 to acquire a new member, the customer will prove profitable in a short amount of time.”

The gym now has developed a budget per customer and can begin the process of increasing their profits. (If you don’t sell anything for money, your main KPI can be a number of leads and conversion rate.)

How does this look in reality?

The folks over at Kissmetrics were modeling the LTV of the average Starbucks customer, using data from 2004-2012. Though the data might be out-of-date in 2017, it certainly serves as a good example for developing a predictive LTV model.

The first step in crafting their perfect LTV model was feature extraction, a process which examines customer data and zeros in on behaviors that lead the user to convert. These should be able to apply in other similar predictive models.

Feature extraction data

In general, three factors went into evaluating an average Starbucks customers’ activity: customer expenditures per visit, number of visits per week, and the average customer value per week. (The average customer value per week was found by multiplying both the expenditures and number of visits per week together.)

Once they had averages of these three datasets containing customer variables, it was time to calculate. Using the average values calculated above, and allowing for certain constants, they were able to create formulas to calculate the overall lifetime values.

Three common formulas were employed: a simple LTV equation, a customer LTV equation, and a traditional LTV equation. The outcomes of all of these equations were averaged together to find the LTV.

Every company’s LTV is going to look a little different. The key is to focus on which customers interact with and purchase from your company over time, and increase their customer satisfaction. Invest in users, rather than expending your resources on “cheap” or “average” customers who ultimately might churn or invest little value.

Conclusion

In general, while micro conversions as metrics can be telling, they aren’t your KPIs. The four key performance indicators that do matter include:

• Revenue Per Visitor
• Conversion Rate
• Customer Acquisition Cost
• Lifetime Value

Knowing how much it costs to acquire customers informs how much money your pour into your merketing budget. Typically, conversion and revenue per visitor rates are relevant because is gives you current, raw data on purchases already made by your customers, whereas predictive modeling for LTV is less accurate and therefore more likely to err.

Vancouver and its surrounding region of shiny condo towers and affluent, resort-like amenities also has some of the highest levels of poverty and inequality in the country.

Vancouver outstripped the 10 most-populous “census metropolitan areas” in Canada for having the highest percentage (16.5) of residents living in low-incomes households, according to analysis by Andy Yan, director of Simon Fraser University’s City Program.

Yan looked at 2016 census information and compared so-called after-tax, “low-income measures”, which are based on median incomes and gauge relative inequality. For example, the threshold for a two-person household to be designated as an after-tax, low-income-measure household, is having income that is below $31,301.

In comparison, Toronto had the second-highest percentage of residents living in low-income households (15.6 per cent), followed by Montreal (15.3), Winnipeg (15) and Hamilton (13).

The study was released following recent discussion in the Lower Mainland about the under-reporting of income for tax avoidance. There are areas in north-west Richmond that are sharp anomalies, with very low-income levels despite high home values.

But, Yan emphasizes, the study also highlighting pockets of low-income populations throughout Metro Vancouver and, increasingly, the suburbs, where there are higher levels of poverty compared to the rest of Canada.

Others who have looked into the census data agree that both dynamics are at play.

“There are big questions in Vancouver in the real estate market and, it’s very clear, wealth plays an important role,” says Vancouver-based data analyst Jens von Bergmann. “Typically, it is about unreported income from overseas. It’s a big issue and really hard to nail down. There are large patterns that are consistent with that narrative, but there are lots of variables too.”

“We don’t know, are these people in fairly rich neighbourhoods, but living in a basement suite and getting a deal from their landlord? Or, there are seniors who live in these areas who have paid off their mortgage and might be living on (RRSP) income. We want to be definite, but we can’t be.”

Yan broke out other measures of low income for seniors, working age adults and children, as well as gender. He says his findings have implications as the province and federal government consider their roles in addressing affordability.

For example, says Yan, “What is the state of seniors and where are they concentrated? If you take a look at Chinatown and Gastown and the Downtown Eastside, where 71 per cent of seniors are living in low-income categories, you can ask, ‘How does this inform the fight for 105 Keefer,'” referring to the contentious rezoning application for a Chinatown site this past summer. The desire to build a 12-storey condo drew fiery opposition from advocates for seniors housing and was eventually rejected. There is currently a revised application filed at City Hall that doesn’t require rezoning and doesn’t include social housing units.

Yan said that, considering his information, we can ask, “What is reasonable to build? More generally, how do we deploy services or build infrastructure or plan for transit? It’s critical to understand where low-income people live … so we can understand if jobs are inaccessible. That kind of dynamic can lead to the crystallizing of poverty.”

Details in Yan’s study about low-income pockets in Surrey and Coquitlam fit with other research about poverty moving into suburban communities, said Penny Gurstein, a professor at the University of B.C.’s School of Community and Regional Planning who specializes in socio-cultural aspects of affordable housing, especially for marginalized groups.

“Everything is much more expensive, but incomes have not risen,” says Gurstein. “All of these things are contributing to more pronounced poverty and inequality. There is this assumption that poverty is concentrated in one area or certain areas, (but) it’s actually very dispersed. This puts pressure on communities not used to dealing with these kinds of issues.”

Yan asks: “Are these the beginnings of the bifurcation in Vancouver between the rich and poor? And how it’s on its way to being an exception in the world of real estate appreciation, but not an exception when it comes to levels of income equality in other cities in the world?

“This city has always been expensive, but the absurdities of the mismatch are growing.”

jlee-young@postmedia.com

 Which Amazon Echo is right for you? The new Echo 2, Plus, Spot, Connect and Buttons, or the existing Dot, Show or Look? This handy chart lets you compare the functionality and pricing of Amazon’s entire Echo line that got several new additions today at a big launch event. Though Amazon has traded simplicity for flexibility, the Amazon Echo sh*tshow makes Google Home look like… Read More

By Tibor Shanto – tibor.shanto@sellbetter.ca

Most people think they like choice, they think, contrary to practical experience, that choice empowers them, giving them “control”, and a sense of being in charge of their own destiny.  The reality is often different, and giving prospects choices can have unanticipated consequences.  While there are some pros and cons, there are three reasons you should not give choices, especially where you don’t have to, and you’re just doing it because you ran out of ideas.  So, in no specific order or importance here are three reasons not to provide choice.

Less Revenue

Less Revenue – I have heard from many that they give a choice of product, and related cost, as a means of helping the customer feel less pressure, and the opportunity to not go with the highest priced option.  I have had professional sales people tell me they give three choices, because they know that most will go for the middle tier.

I have a client that sell components, by far his best product is the middle of the three he presents clients.  Most clients love it, and give off “buying signals” indicating they will go for option B, till pricing comes up, when and most revert to the lower priced component.  When we changed the approach to presenting the best option, one price, one decision, much easier to make than three.  Quicker sales, more revenues, no unhappy customers.

Authority

Authority – One reason the above works so well, is that his sales people now are presenting themselves as subject matter experts.  They first spend time understanding what the prospect is trying to achieve and then present the right option.  Usually it is the former middle choice, but the reps often present the lower and higher cost point alternatives, based on what they uncover during discovery.

As a subject matter authority, you build the right to make a recommendation based on your expertise, experience, and support of the company.  Imagine if you went to an expert for help, a doctor, and after they talk to you, examine you, and share their prognoses, and then offered you three options.  Would you not look to them as the expert, to make a recommendation, it should not be like going to a restaurant, given a menu, and pick you cure.  One of the upsides of conducting a good discovery, is along the way you are earning the credibility to make a recommendation; I guess when you don’t have that credibility, you reach for the menu – look out for the sales bots, they’ll do it better.

Inability To Choose

Inability To Choose – We have all been in situations where given three or four choices, we ended up leaving with none.  This is not limited to impulse buying or something not having importance.  While not all, the reality is that many of the deals that end in no-decision, do so because the buyer could not make a choice, and ‘abandoning’ was the easiest option, of course had we not started them down the ‘option’ path, they may have found it easy to say yes to one thing, recommended by an expert at a rational price.

A friend expressed it best when speaking about having his car worked on.  He hates having to choose which type of oil he should pick when he has his car service, or choosing winter tires.  He is typical of the first example.  He is convinced that the highest priced tires are overpriced, with extras he feels he does not need.  He doesn’t want to be that guy that opts for the cheapest, after all his daughter often drives the car.  So, he goes for the middle, but here is the rub.  He never feels good, always second guessing, which makes the purchase much more dramatic and stressful than need be.  As he says “if the mechanic would just tell me what I need, why, and which one best does the job, I’d buy that one, even if it was the top of the line.  But when I have to make a choice, I’m never quite sure about the choice, and I just don’t feel good about it.

Choice is yours, want to make you buyer feel good about dealing with you, don’t make it about price, make it about them, and your ability to recommend and deliver on the best “solution” for them.

Become one of the thousands of sales professionals receiving my latest updates on sales execution, tools, tips and more.

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The post 3 Reasons ‘Choice’ is Killing Your Pipeline appeared first on Renbor Sales Solutions Inc..

When it comes to marketing, design isn’t just about making things look pretty. Don’t get us wrong—that’s definitely an important piece. But more often than not, the true measure of what makes a campaign, design, or any piece of marketing material successful boils down to one question: Did it convert? You can have an amazing-looking website, but if pages aren’t converting visitors to leads, your site isn’t performing its primary function.

Every designer learns the fundamentals of good design in school. The process of understanding the Z-Layout, utilizing grid systems, and applying concepts like color theory builds the foundation for creating design that effectively communicates with a given audience. Designing with lead conversion in mind builds on those fundamentals and takes it further by enticing users to take a specific action through purposeful visual cues.

Unbounce co-founder and Creative Director Oli Gardner created a system of seven design principles called Conversion-Centered Design. In it, he outlines how to use attention, context, clarity, congruence, credibility, closing, and continuance to optimize landing pages for maximum conversions. Starting with stripping out unnecessary links that draw users away from your primary CTA, Gardner’s framework is full of tips for increasing lead conversions.

Below is our own list of design considerations to keep in mind to make your website more effective at converting visitors into leads.

Visual weight and direction

The classic Z-Layout has its place, but with testing methods like eye tracking, studies are continually discovering that the human eye actually bounces dramatically around a web page and reads web content in an F-shaped pattern. When there are competing elements on a page, the eye tends to land on what’s most visually dominant. Basically, we look at the big, heavy stuff the most and scan text from left to right.

We also love looking at people. We can’t help ourselves. There’s something about establishing a connection with a person, even if it’s just a static image on a website, that appeals to our social animal instincts—and babies: Forget about it.

When a diaper company performed an eye tracking test with two versions of a page, it found that the adorable baby’s face garnered the most attention. No huge surprise there.

But when the image was swapped for one of the baby looking at the copy, users not only looked at the baby’s face but became more focused on the copy. Notice the stronger F-shaped pattern from the headline down to the body copy.

Placement matters—but not where you think

There have been numerous articles over the years that prove people scroll down web pages. The urge to put all the most important content (read: CTAs) at the top of a page to ensure lead conversions isn’t as necessary as you may think. As the Nielsen Norman Group wrote, “Users do scroll, but only if what’s above the fold is promising enough.”

An article in Kissmetrics notes three separate tests whose findings support that claim. In each test, CTAs that were moved from the top of the page lower down—and even to the bottom of the page—resulted in the same or increased conversions.

To increase conversions, you must provide users enough information to be able to make an informed decision. Grouping CTAs at the top of the page doesn’t give users the context they need to understand what your company does and how it provides value. Placing CTAs next to the information that users find most relevant is more effective at converting leads.

Avoid information overload

While users need information to convert, it’s important to be cognizant that too much information can be a bad thing. Three psychological concepts to keep in mind when determining how to lay out a web page are:

1. Information Overload: Bertram Gross coined this term in his 1964 book The Managing of Organizations, defining it as follows:

“Information overload occurs when the amount of input to a system exceeds its processing capacity. Decision makers have fairly limited cognitive processing capacity. Consequently, when information overload occurs, it is likely that a reduction in decision quality will occur.”

2. Decision Fatigue: When faced with too many options to choose from, the influx of choices could lead some users to make an uninformed decision. This may result in a conversion but not necessarily the marketing qualified lead you want.

3. Decision Avoidance and Analysis Paralysis: Conversely, some users may make no decision at all when faced with too much information.

You want to give your users the information they need when they need it. So if your website is inundated with copy, ask yourself: Is it all necessary? Would a user understand your product well enough to convert if you cut the copy in half?

Besides ensuring you have the right amount of copy, utilize design elements like white space to give your content breathing room. This will allow users to focus and absorb what’s most important on your site.

Colors count…maybe

Though Goethe’s Theory of Colors is still very much in use today, it was published 207 years ago. Some things have changed since then. A classic web design conundrum is which button performs better: red or green?

When HubSpot tested this, the red button outperformed the green by 21 percent. ConversionXL compared four case studies that performed similar tests, including HubSpot’s, and concluded that though the red button won in three out of four, other factors were at play. There is no single color that leads to more conversions.

Test, test, then test some more

All of these methods have been tested and proven effective at converting users in their respective use cases in some manner. But like the button color tests, that doesn’t necessarily mean they are right for your website. Use what makes the most sense for your needs and start with A/B testing to see what has an impact on lead conversions.

But while A/B tests are important, to fully optimize for conversion, you need to dive deeper into other testing methodologies. This article from Moz outlines common mistakes people make when testing for conversion rate optimization. The author argues, “The primary goal of CRO is to find the truth.”

Remember—there is no 100 percent right answer. Test a number of methods to find what produces the best results for your website. No one has all the answers, but these design tips will start you on the right path to increasing your lead conversions.

I was given the honour Tuesday of sitting on a panel at the Bloomberg studio in New York to discuss the Canadian macro outlook in front of a blue-chip crowd of institutional investors, government representatives and central bank officials from both sides of the border.

Of the three panelists, there can be no doubt that I was the resident bull. A strange place for me to be, that much is true.

One panelist lamented the aftershocks from the plunge in oil prices, while the other spent much time discussing NAFTA and how its demise is likely to act as a pervasive overhang for exports and business investment.

While I concede elements of their arguments, there are some very important positives taking place in Canada. With the unemployment rate back down to a cycle low (and near 5 per cent on an apples-to-apples United States comparison) we are starting to see wage growth pick up to nearly 2 per cent after years of near stagnation.

Employment growth overall has been robust and two-thirds of this year’s job creation has been in full-time positions, the key underpinning to incomes, confidence and spending. So while the consumer activity that was hitched to the bull market in stocks may be ending, the spending that relates to good old-fashioned income growth is now beginning and is much more powerful than “wealth effects.”

Outlook

And the rebound in the Canadian dollar will help shave import costs, especially for necessities like food, and as such will help bolster real purchasing power for the segment of the Canadian consumer space with the highest spending propensities.

There is something else to consider. The outlook for the auto sector is bleak, especially since North American sales look to have peaked out, and this longer-term trend toward smart cars. But the auto sector today accounts for just 1 per cent of Canadian GDP. And for all the talk about energy, also likely in secular decline for similar reasons, the reality is that this sector represents 10 per cent of the Canadian economy.

There is another 90 per cent of GDP out there to assess. And much of this is in the service sector. Everyone still talks about energy, mining and autos when they discuss Canada, and yet financials, wholesale and retail, health, recreation, transports and education are far larger segments of the economy.

When I started in this business 30 years ago, barely more than 60 per cent of Canadian GDP was in services. Today, that share sits at 70 per cent and is expanding. In other words, this has increasingly evolved towards a “smart economy” (what the U.S. started becoming a lot earlier, though this may get derailed now that America has a president focused on bringing coal mining jobs to Pennsylvania).

And the fastest growing part of the overall economy in fact is technology. Canada is emerging as a major hub in this respect. The GDP share of tech, both hardware and software, is up to 4.5 per cent. Both employment and output growth in this space are running over 5 per cent. The unemployment rate here is tied for a record low of barely over 2 per cent, and so it is a good thing that the federal government is fast-tracking high-skilled immigrant labour into the country (with President Donald Trump moving in the opposite direction).

Demand for tech

But this uber-tight jobs market in the domestic tech sector is a testament to how strong the demand has been. The data we have gleaned show the Kitchener-Cambridge-Waterloo corridor (“Silicon Valley North” no longer elicits a chuckle) to be on a major upswing and the area’s jobless rate is the lowest in the province at around 4 per cent.

This expanding 4.5 per cent chunk of GDP will help act as a big offset to the secular contraction in the old-economy auto and energy sectors, which is why it is more important for Ottawa to couple its pro-growth immigration policy with tax treatment that will continue to support investment in this high value-added industry.

As an aside, what makes Canada different from the U.S. at the moment is that industry operating rates north of the border have risen to a cycle-high 85 per cent versus 75.3 per cent stateside. This is one reason why the business investment outlook in Canada has improved so markedly of late and is evident across many surveys of corporate spending plans. The tech sector is really bumping against capacity constraints, which will require more investment, as the capacity utilization rate here has surged to 87 per cent.

Coincidentally, the tech boom in Canada has come at the same time as a notable upward shift in productivity growth. From a flat trend last year at this time the pace has quickened to over 2 per cent.

Indeed, it would be nonsensical to extrapolate a four-quarter trend into the future, but even if it is 1 per cent, alongside the federal government’s ‘global skills strategy’, which is inducing high-level immigration inflows and has resulted in labour force growth in excess of 1 per cent, perhaps a case can be made here for a re-rating of Canada’s growth potential to low or even mid-2 per cent levels from a decade of mid-1 per cent. The implications of this would be enormously positive long-term for the currency and returns on Canadian assets, broadly speaking.

To be sure, there is always the possibility that the government (I can include some provinces too — Quebec a notable exception, mind you!) shoots itself in the foot with anti-growth tax changes. But Canada has always seemed to have a knack of doing well in spite of itself.

David Rosenberg is chief economist and strategist at Gluskin Sheff + Associates Inc. and author of the daily economic report, Breakfast with Dave.

We talked to Scott Jaworski, Director of Global Social Media at Intel to find out how Intel manages social media on a global basis

In a recent survey Smart Insights, and Clutch, found that social media usage and effectiveness differs between B2B and B2C companies:

Facebook was found to be the most valuable platform for B2C companies (96%), whilst LinkedIn is the most valuable for B2B companies.

To find out more about trends in managing social media in large global brands, we interviewed Scott Jaworski, Director of Global Social Media at Intel, one of many senior keynote speakers at the Marketing Leadership Forum on October 5-6. We were interested to learn his thoughts on social media trends and innovations, brand identity on social, and mass-communications.

Trends and Innovations

Q1. Which social media trends and new innovations are you tracking which you think will be important for Intel's audiences in 2018?

The most recent ideation session I hadwas focused on camera effects. A unique opportunity for brands, especially through social is directly inside the mobile camera (Facebook's camera effects platform). Combined with augmented reality, it could be a winning recipe where brands help users create new and personalized ways to tell their story.

Q2. To what degree can social media activities be centralized in a global business like yours?

Anything’s possible and I know it sounds dreamy, but we took a pause and asked ourselves these questions first - is it the right thing to do? Are we better served focusing efforts on appointing the right people in the role?

Knowing the end-state goal of your centralized vision can take you down different, potentially easier paths netting the same end result. Example: we firmed up our social handle strategy and did a deep analysis of our footprint.  The results that came in showed fragmentation and ways in which we were able to reduce (with limited impact on reach) which indirectly aided in our centralization efforts.

Voice and Brand Identity

Q3. How do look to control tone of voice and brand identity on a global basis?

First and foremost, we needed to know who, the role, level of expertise and where the audience is that creates and publishes our content. This knowledge was integral to the creation, distribution and governance of our brand strategy and guardrails.  Knowing the aforementioned, we…

Created strategic documentation

• We developed several versions written for different audiences at varying altitudes – handle owners, agencies, etc.

Distributed

• Created a single destination for hosting. Users have learned where to find the latest and greatest and we can better manage version control and tracking – are people downloading it and who?

Empowered

• Developed a support structure who has skin in the game and ability to apply a layer of localized oversight.

Use Tools

• Leverage editorial planning software. This increased visibility and provided tracking, which organically impacts accountability

Governed

• Implemented a governance team and framework to monitor handles. This was partially automated via the use of tools

To level set, the reality is that this is a continuous challenge that requires regular attention.

Integrating marketing communications

Q4. What is your view on the value of having a content marketing or audience engagement strategy and plan for each business area/market? Should this be defined as a separate document to achieve focus, or integrated into other communications plans?

Social without the “social” is advertising. If we’re looking to strike a rapport, develop relationships (a key differentiator social has over all other forms of marketing) and build an active audience, we need to have an engagement strategy.  My POV is that this is the cost of doing business in the social world.

I’d align your engagement strategies with audiences vs. businesses – which lends itself to being internally focused. More challenging than not is having visibility and the opportunity to engage digitally; above and beyond social.  Depending on the size and organizational structure of your business, this will likely require cross-BU collaboration, extension into geos (cultural relevance), etc.  To the extent of which you can achieve a holistic view, the better.

Social media command center

Q5. A few years back using a 'Social media command center' was seen as a way of showcasing social media and responding to customer issues. What is your view on SMCs?

SMCs of today are more than just customer support centers. They are vital to real-time insights and the development of actionable brand executions; whether it’s helping a customer or joining a relevant conversation.  That said, they’re transient by nature; you can quickly ramp and build in support of an event, activation or initiative.

The current generation of SMCs are full on Digital Analytics Hubs. These hubs go above and beyond supporting customer issues and real-time insights.  The hubs capabilities include, but are not limited to: executive and brand monitoring, social selling, trend spotting, influencer tracking and more.

Marketing technology apps

Q6. Which marketing technology and apps do you use within to manage communications in-team and with prospects and customers?

Due to contractual sensitivities, I’d prefer not to answer this question citing vendor names.

Generally speaking, my team uses editorial planning, publishing, listening, analytics and collaboration tools.

It’s important to note, there isn’t one tool to do it all. Furthermore, pairing of certain tools can pose other challenges – information sharing/inconsistencies, data integrity, version control, and more – all of which can lead to discrepancies and inefficiencies.  Tip: test and iterate often.

Learn more

If you want to know more about social media strategy from Scott, he is one of many senior keynote speakers at the Marketing Leadership Forum on October 5-6.

Registration has just opened for the events, the highest level marketing event taking place this year at the Four Seasons Westlake Village, Malibu, CA on October 5-6.

Features a remarkable line-up of 45+ Marketing Gurus and Experts including:

• David Jaye, Chief Marketing Officer/Chief Digital Officer, IBM
• Christine Nashick, Chief Marketing Officer, DHL Express
• Shonodeep Modak, Chief Marketing Officer, GE Industrial Solutions
• Mark Zarthar, Global Head of Sports Marketing, Anheuser-Busch InBev 
• Ted Hutcheson, Vice President, Global Creative and Content, Ashley Furniture Industries
• Rick Wion, Senior Director, Consumer Engagement, Kellogg Company
• Josslyn Mikow, Senior Content Strategist, eBay, Inc
• Ryan Lauder, Director, Customer Engagement, Taylor-Made Adidas Golf

To better understand the event, please click here: http://events.marcusevans-events.com/marketing-leadership-forumna17/

Connect with 80+ CMOs, Heads of Digital, Customer Engagement and Content Strategy Specialists and tailor your personal agenda based on the 4 streamed program.

To apply for a place contact leyanad@marcusevanscy.com

Contact us at leyanad@marcusevanscy.com by September 25 to find out how you can receive a $500 discount off the standard price

Every successful sales rep knows the best recipe for closing the deal has only two ingredients: exceptional products or services and exceptional customer service. The rise of account-based marketing (ABM) reflects this tenet. ABM is a new phrase for a long-standing approach to sales and marketing in which integrated teams prove they care about the needs and pain points of their most strategic accounts, and they speak specifically to those accounts in a tailored way.

It’s awesome and straightforward—in theory. ABM execution, however, can be challenging without the right relationships, strategy, and tools in place.

The longevity and customization involved in ABM mean that instead of speaking to one sector with company-agnostic messages, marketers must treat every key account as a sector unto itself. The marketer’s job as they practice ABM is no longer to capture and qualify a lead, then pass it off to sales. Instead, teams must sustain a dialogue throughout the entire customer lifecycle, stay aligned with sales, continually deliver assets that support account expansion—and do it all for multiple customers. ABM changes the challenge for marketers. We might have been the fraternal twin to our peers in sales before, but with ABM, we are conjoined.

In this blog, I’ll cover the steps necessary to set yourself up for success as you deploy an ABM strategy.

Marketing Fundamentals and New Approaches

The transformative results companies expect from ABM require two critical elements. First, marketers must have their timeless fundamentals in place. As with any marketing strategy, ABM-oriented teams need to determine their value propositions, optimize their websites, glean insights from their customers and have fundamental alignment with their sales teams. If you’re having challenges with these foundational building blocks, hit the pause button before you dive into ABM and start customizing programs for every strategic account.

Assuming the foundation is sound, the second critical element is how teams approach project management and execution. Endurance is crucial to ABM success, and marketers constantly need to reassess whether they’re targeting the right people and ensuring their needs are met. Most teams aren’t used to ABM-level intensity, especially for an extended period of time. The phrase, “feed the beast” comes to mind, and the beast is always hungry. It’s not realistic to expect marketing teams to “feed” customized, personalized campaigns to multiple strategic accounts without increasing headcount or sacrificing attention for higher-value work. Something has to give.

Save the Marketing Brain Trust for Strategic Work

As organizations consider the best ways to efficiently and economically handle the demands of ABM strategy, more of them are embracing marketing process outsourcing to meet their ABM deliverables and reap the benefits of strategic account selling. The strategic brain trust inside the organization is best suited for high-value tasks, like fostering one-on-one relationships with clients and devising segmenting and targeting strategies. Everything else—creative, research, and data-driven work—can be handled by ancillary parties.

Don’t distract your ABM team with tasks an outsourced partner can successfully execute. Things like daily competitive reports, asset library management, data visualizations, email design, and whiteboard animations can all be handled offsite. The same is true for CRM and database management, persona development, and print and digital asset creation. Whether through technology tools, external vendors, or both, account-based marketers need the resources and workflows to manage more constant, high-volume, personalized campaigns.

Moving Forward

There are plenty of challenges to making ABM work. Teams need senior-level advocates from sales, marketing, and finance to get on board. They need IT to help integrate and coordinate communication to clients. They need sales reps and marketers to stand in the same line and look at true north together, as partners. And they need to give the knowledge workers who understand the company DNA the bandwidth to do strategic-level work, without slowing the stream of customized outreach that makes ABM worthwhile. All of this is doable. To make ABM work, marketers need to plan, execute, evaluate, breathe, and repeat.

How have you incorporated ABM into your marketing strategy? I’d love to hear about your experiences. Tell me about it in the comments!

The post ABM Success: Plan, Execute, Evaluate, Breathe, Repeat appeared first on Marketo Marketing Blog - Best Practices and Thought Leadership.

Consider the following situations:

A surgeon creates an online profile of her qualifications and experience for potential patients, but she does not include her patient mortality rates. After one of her patients dies on the operating table, a lawyer for the patient’s family discovers that the surgeon deliberately withheld the mortality data.

You are eating at a restaurant and see a rat scurry across the floor. As you are leaving the restaurant, you realize that the restaurant did not visibly post information about its health code compliance and violations.

As consumers and citizens in the internet era, we have access to more information than ever when making purchases and other choices that affect our health, safety, and well-being. On websites like Yelp, TripAdvisor, and Amazon, we can sift through hundreds of reviews of a single restaurant, hotel, or item for sale; and organizations and individuals now take it upon themselves to provide a bevy of data about their services and products online.

Theoretically, marketers could take advantage of this information glut to withhold facts and figures they’d prefer we didn’t see. The surgeon could be motivated to hide higher-than-average mortality rates that could drive away patients. The restaurant might conceal information on hygiene ratings that could repulse customers.

As these examples show, sometimes what is not said is at least as important as what is said. But how do consumers react when marketers withhold information that would be relevant to their decisions?

We suspected that consumers would be deaf to marketers’ silence. Indeed, in a series of experiments, we found that, overall, the 1,700 people in our samples were much too forgiving of deliberately undisclosed information. This is in contrast to norms of rationality that a large body of economic research has developed over decades.

How Information Can Unravel 

Game theorists have long studied how the “game” of communication and disclosure should play out between consumers and marketers, and how consumers should interpret missing information (i.e., information that is withheld by marketers). They have theorized that, through a process known as information unraveling, consumers will catch on when information is being withheld from them and make smart inferences about what that means.

Here’s how information unraveling might work: Suppose that doctors’ patient mortality rates are classified on a five-point scale ranging from the very worst (one star) to the best (five stars) in the country, and these are displayed on their online profile. If a surgeon withholds her mortality rate, what should the patient infer? Logically, that the surgeon has less than a five-star rating; otherwise, she would have disclosed it. Might the surgeon have earned four stars? According to game theorists, no. If everyone with five stars will disclose, then anyone who has not disclosed must have between one and four stars. Those with four stars therefore will disclose, since they are the best of that range and want consumers to know this. By the same argument, those with three stars will also disclose. The unraveling is now clear: surgeons with five stars to two stars will disclose. So, the theory goes, every patient will know that a surgeon who does not disclose has one star.

This principle predicts that consumers will be maximally suspicious of missing information. If a smartphone manufacturer doesn’t disclose a phone’s battery life, then you probably don’t want that phone (if you care about battery life). If a restaurant doesn’t disclose its hygiene rating, you might not want to eat there (if you don’t want to get sick). And if a surgeon doesn’t disclose her patient mortality rates, you might want to consider other surgeons (if you care about reducing the risk of death).

A Surplus of Trust

These predictions, however, didn’t hold up in our study. When we put the unraveling principle to the test, we found consumers to be naïve and trusting of service providers who were clearly withholding information that was critical to their decisions.

In one experiment conducted online, we asked 493 U.S. citizens to imagine they were patients choosing a doctor based on their online profiles that included patient ratings of five important aspects of care: quality of care, trustworthiness, availability, bedside manner, and value. Respondents saw the average ratings for all doctors in the city on each of these aspects. Next, respondents saw an individual profile that contained only four of the five ratings. One-third of the respondents were told the missing rating had been removed randomly. (This baseline condition was designed to measure the effects of information that was merely missing and not withheld by the provider.) Another third were told the doctor had not provided the missing rating. The final third were told the doctor had refused to provide the missing rating.

When the doctor had simply not provided the information, respondents judged that doctor as being just as good on the missing rating as in the baseline condition (where a rating was randomly removed). When the doctor refused to provide a missing rating, respondents were less likely to choose the doctor, but still did not rate the doctor as poorly as they should have from a rational decision-making perspective. Overall, the respondents didn’t seem to notice or care much when critical information was withheld from them.

Next, we examined how much value consumers place on disclosure of data that would be important to their purchasing decisions. We wanted to gauge the point at which it would make sense for a seller or service provider to withhold critical information — which, in turn, would tell us whether consumers need to be protected from unscrupulous sellers.

In another online experiment, we asked 1,104 U.S. citizens how likely they would be to choose a doctor (Doctor Green) based on ratings displayed in the doctor’s profile on the same five aspects of care used in our previous experiment. For participants in the disclosure conditions, ratings on all five dimensions were available. A doctor’s trustworthiness — arguably, the most important of the five — was displayed as either low (52), moderate (75), or high (99), on a range from 51 to 99. Not surprisingly, the higher the trustworthiness rating, the more likely participants were to choose the doctor.

For those in the non-disclosure conditions, the doctor’s trustworthiness rating was missing. We displayed this in different ways: either as (1) a blank space in the same row where trustworthiness ratings were indicated for other doctors, (2) the label “trustworthiness” displayed but a blank space where the accompanying rating should be, (3) the “trustworthiness” label accompanied by the phrase “doctor did not provide,” or (4) the “trustworthiness” label with the phrase “doctor refused to provide.”

Interestingly, participants in the non-disclosure conditions, who saw no trustworthiness rating, were as likely to choose Dr. Green as people in the disclosure conditions who saw that the doctor had a moderate trustworthiness score. In other words, nondisclosure was more equivalent to a moderate rating than to a poor rating. Although the type of nondisclosure influenced people’s decisions (for example, they were less likely to choose Dr. Green when they saw the “doctor refused to provide” the trustworthiness score), even those in “refused to provide” condition were significantly more likely to choose the doctor than those in the disclosed condition who saw that Dr. Green had a low trustworthiness score of 52.

Simply put, it was much better for Dr. Green to refuse to disclose her trustworthiness rating than to reveal a low one. This suggests that, under some circumstances, concealing even mediocre information may be the best policy for service providers — and that consumers are vulnerable to being harmed by this motivation.

Drawing Attention to Noncompliance

In 2015, North Carolina Senator Thom Tillis suggested during a talk that a regulation requiring employees to wash their hands after using the bathroom was unnecessary. “I don’t have any problem with Starbucks if they choose to opt out of this policy,” he told the Bipartisan Policy Center, “as long as they post a sign that says we don’t require our employees to wash their hands after leaving the restroom. The market will take care of that.”

Late-night comedians had a field day with Tillis’s suggestion. However, it was somewhat in line with game-theory predictions regarding disclosure. His reasoning suggests that as long as restaurants and cafés are required to publish their hand-washing policy, there is no need for the government to mandate hand-washing. If restaurants wanted to opt out, they would just have to disclose that they opted out. And then consumers who care about hygiene would only patronize restaurants that posted clean-hands policies.

But despite the elegant and logical predictions of game theory, we can’t count on people to notice or make the correct inferences about missing information. Even if they do notice nondisclosure, it might not occur to them that the salesperson or marketer may have something sinister to hide unless the nondisclosure is strongly flagged.

Consequently, we recommend that those selling goods and services should be mandated to disclose any information that is relevant and valuable to consumers’ decision making, unless there is a simple way to flag deliberate non-disclosure. Thus, a Starbucks that opts out of employee hand-washing should be required to post a prominent sign to this effect, and a surgeon should be required to disclose performance data that is critical to patient health.

Selling well is about making effective choices. It doesn’t make sense to open a phone call to your dream client with “Is this a good time?”

If you are calling your prospective client to ask them for a meeting, you don’t need much time. You simply need to tell them who you are, share with them the value you intend to trade for their time, and ask them for an appointment. If you believe that you are going to call, interrupt your prospective client, and conduct a discovery meeting over the phone, then your expectations are out of line with what should be your goals.

Worse still, you have asked a question without defining what you want. Is this a good time for what? Is it a good time for a call to discuss your company and your product? Is it a good time for a chat to see if you can build enough rapport to make an ask? Is it a good time to demo your service? If someone says yes to this question, it is likely that you are not speaking to the person you really need. Most of the people you need to meet with are too busy to stop to take an unscheduled meeting. Even a phone meeting.

The truth of the matter is that this question is a bit of a tie down. By answering yes, your prospect has agreed to speak to you. That’s the intention behind the question. It isn’t that you are trying to be polite. It isn’t that you are trying to sell in a way that engenders trust. And it isn’t the best of choices when you are prospecting. Even though everything works sometimes, and even though there are a lot of ways to get to yes, you should make the best choice available to you, and this isn’t one of them.

The post Is This a Good Time appeared first on The Sales Blog.

Email book marketing is a great way to get the word out about your brand, your books, your events, and other unique things happening in your life that are critical to helping indie authors make personal connections with fans and potential readers.

But most of us can’t open our inbox without seeing dozens of emails for products, services or promotions.

So how do you break through the noise?

Below are my tips for ensuring your emails get opened.

Keep in mind, I’m referencing emails because not every indie author needs to do an official newsletter, certainly not when you’re just starting out. But these tips also work for you folks with newsletters, so keep reading!

Stay Relevant

Think about the last few promotional emails you opened. What made them stand out? Was it simply brand loyalty? A limited time discount? Or a new product announcement?

If you find yourself just throwing random ideas together because you have a book marketing email to get out you’re not doing it right, and to be candid, you’re being lazy and wasting a good opportunity to grow your audience and sell more books.

Have a goal.

Know Your Audience

Always keep in mind who your readers are and who your potential buyers are.

Yes, they like books like yours, but they’re not one-dimensional. Readers of particular genres and topics tend to have other similar interests, follow similar trends, etc.

They even respond positively to certain color combinations and font styles, all these things strengthen your connection with them and make you stand out.

Be Savvy With Promotion

You want to sell books, but don’t make that the only goal of your email unless you’re offering them a screaming deal.

If you’re focusing on brand awareness stick to the 95/5 rule, so 95% useful, engaging, entertaining content, 5% sales content.

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How to use effective email marketing to sell more books via @bookgal #amwriting #bookmarketing
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Quality is Key

This goes back to understanding your audience. What do they find interesting, helpful or entertaining? Don’t just fill space to hit a word count.  If it’s stronger and more meaningful because it’s punchy – that’s totally fine.   I recently posted about living in an 8 second world.  Click here to read about demanding attention in this space.

Sometimes indie authors just need to remind our readers to post reviews, this message should be short and sweet with a link to your book page on Amazon.

I’d also suggest sweetening the deal by entering them into a drawing for a gift card if they send you a screenshot of the review!

Mix it Up with Collaboration

I’ve encouraged you to swap promotions with fellow indie authors on social media, and you can certainly do the same thing for your book marketing emails.

Reach out and ask if they’d like to swap promotions in your respective book marketing emails or newsletters. The worst you could hear is ‘no’ so what have you got to lose?

The benefit here is two-fold. You get more content for your emails and your readers see you as a resource for great book recommendations.  Click here to read up on this and so many other book marketing tips we suggested for indie authors to sell more books.

Get the Frequency Right

Watch this one very closely. The general rule of thumb is that the more often you send out your newsletter the shorter it should be.

If you’re going to do something weekly keep it shorter and try to have more discounts, special announcements, giveaways, etc. that really make it worth their time.

If you’re aiming for monthly you can make it longer but I’ll touch on this in a section below as well.

Email marketing services like MailChimp can give you stats on how many people open your emails, how many links are clicked, and even the time of day that seems to be most popular with your recipients.

Let Your Personality Shine

Your emails should be written in your voice.

Are you known for a certain phrase? Do you have a motto? Can you make a sailor blush?

If it fits your genre and target reader – it makes you relatable.

Respect Reader Time

If you have multiple things to address use clear headings and after each heading include a concise, single sentence summary of what you’re going to address.

This gives readers the option to skim and get what’s most important to them right away, and hopefully come back for the rest when they have more time.

Get it Edited

This is a big one. Ask a friend, your spouse or partner, a fellow author, someone who is good with words or at least good with details, to read through it for any glaring errors before sending it out.

Respect People’s Privacy

If you’re going to send the emails from your private email then use the bcc option. Don’t blast everyone’s emails out. And keep in mind some private email servers don’t like it when a single email is sent to too many recipients, and this is when services like MailChimp also come in handy.

 The Takeaway

When done right, email book marketing can be a critical and a very effective piece of your overall marketing strategy.

Just keep these tips in mind and don’t get lazy on the creativity and be hard on yourself when assessing what kind of value you’re really providing your recipient.

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How to sell more books with email marketing that really works via @bookgal #bookmarketing…
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Need more help on how to sell more books? Contact us for a personalized assessment.

 

 

 

 

Are you thinking of selling your small business but the idea of offering seller financing or having it pre-approved for a bank loan is giving you second thoughts? Does a buyer already have his sights set on your business but he doesn’t have the funds to purchase it? Luckily, there is a way to have your cake (sell a business) and eat it too (without debt).

Here is the answer: Have the buyer access his retirement funds on a tax-deferred basis to buy your small business.

Why would a seller prefer a buyer to use retirement funds to buy his business as opposed to other forms of financing? And why would a buyer consider using retirement funds to buy a business?

• Ease of access– Buyers can quickly access their retirement funds, whereas obtaining bank financing is costly, time-consuming and difficult. Sellers more readily accept an offer from a buyer who uses retirement funds to buy their business, whereas most sellers are reluctant to accept offers subject to financing due to the traditionally high failure rate of obtaining a bank loan to purchase a business.
• Cash at closing– Using retirement funds creates a win-win situation for the seller and the buyer. The buyer can easily access funds to purchase the business, and the seller receives cash at closing.
• Streamlined process– The process of accessing a 401(k), IRA or other retirement funds to purchase a business is relatively quick and easy. Compare this with the process of obtaining a bank loan, such as an SBA 7(a) loan, which is time-consuming for the seller and the buyer. When obtaining bank financing, a buyer is often required to prepare a business plan and projections, in addition to dozens of other document requests. These strict requirements are not present when a buyer accesses retirement funds to purchase a business. As you can see, a seller will be more reassured when accepting an offer in which the source of funds is the buyer’s retirement account.
• High success rate– Once an initial screening takes place, the likelihood of being able to access retirement funds to buy a business is high, well above 90%. Compare this with the process of obtaining a bank loan to purchase a business, which can take weeks just to receive a preliminary approval.
• Low cost of funds– When selling a business, accepting retirement funds can be less expensive for the buyer than using bank money. Simply stated, banks charge interest. A buyer can easily pay over $100,000 in interest on a $500,000 loan over the life of that loan. Compare this with the use of retirement funds as a source of financing — retirement funds are the buyer’s own money, and there is no interest to pay. While there are fees associated with administering a retirement fund, they are significantly less than the interest charged on a bank loan.
• Creative deal structures– The use of retirement funds allows for creative deal structuring. This structure can combine other sources of financing, such as traditional or SBA bank loans, without causing complications. Because the retirement funds are treated as the buyer’s own money, subordination of financing will not be an issue.
• Can be used as a down payment– Retirement funds can be used as a down payment on a business. This can be combined with other forms of financing, such as seller or bank financing. For example, we recently sold a business where the buyer used $100,000 of his retirement funds as a down payment, the bank financed $700,000, and the seller carried a note for $100,000. The deal would have been impossible without access to the buyer’s retirement funds.
• Credit score not required– Credit scores are not considered when accessing retirement funds. It is the buyer’s money. The buyer is not borrowing money from a bank, and therefore no minimum credit score is required.
• Multiple purposes– The funds, once accessed, can be used for a multitude of purposes, including working capital and purchasing new equipment or other corporate assets.
• No debt– Some people seek to avoid debt at all costs. A buyer who uses their own money, such as retirement funds, is not creating debt.
• Maximizes cash flow– Less interest to pay equates to higher cash flow for the buyer. This can help justify a higher purchase price if cash flow is strained when preparing financial models that incorporate some form of bank financing.
• Tax benefits– The use of retirement funds presents many tax benefits for the buyer of a business, including the ability to set aside additional tax-deductible funds post-acquisition.

If a buyer has less than $50,000 in retirement funds, it is often cheaper to simply take the distribution and pay the associated taxes and penalties. If the buyer has in excess of $50,000 in retirement funds, then the benefits above apply and this deal structure may be used.

Note that this source of financing is available only to individuals. Companies use alternative sources of financing to finance acquisitions.

Although retirement funds have several advantages to both the seller and the buyer of a business, bank financing should not be discounted. In the absence of other forms of financing, bank financing is critical.

How does the process work?

The buyer creates a new entity, a C Corporation. The C Corporation creates or issues stock. The corporation then forms a profit-sharing plan. Afterward, the buyer rolls over the retirement funds into a new retirement account. The funds are subsequently exchanged for the newly issued shares in the new entity. The cash in the corporation can then be used to purchase a business or other corporate assets.

One warning — do not do this alone. Always use the advice of a professional when setting up this type of account. Employee Retirement Income Security Act (ERISA) and Internal Revenue Service (IRS) penalties apply if the buyer does not comply with the rules.

Why do we love this strategy? Frankly, it is a win-win situation for everyone involved. For the seller, it creates a simplified and streamlined process with a high success rate. This means that a seller can accept an offer without worrying whether the buyer will be able to obtain financing. The buyer, on the other hand, will reap many benefits, including ease of access and low fees.

Learn what other types of financing buyers can use to buy your small business from my latest book, The Complete Guide to Selling a Business.

Want to know an interesting fact?

In 2013, the most popular story published by the New York Times wasn’t a story at all.

It was an interactive assessment.

What’s more: It was published on December 21, just 11 days before the end of the year. In 11 days, this piece of interactive content got more clicks than any other piece the publication put out all year long.

That’s kind of mind-boggling, don’t you think? It certainly speaks to the engagement power of interactive content. The Times has taken note: They’ve made interactive content a regular part of their publishing strategy online.

Let’s dive into some other examples, look at their overall interactive content strategy, and find some patterns within their approach.

7 Examples of Interactive Content from New York Times

First up: Let’s look at a few different examples of interactive content the Times has put out recently and see if we can find some common themes.

1. Dialect Interactive Quiz

Here’s the assessment we mentioned earlier that was the most popular piece of content in 2013 (and third most in 2014). The assessment, made by Josh Katz and Wilson Andrews, looks into the different dialects around the US.

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The assessment opens with a curiosity gap and entices the reader to find out what their dialect says about where he or she is from. Copy is minimal, and the interactive assessment is displayed right below.

There aren’t any flashy design elements that distract from the content – it’s actually fairly basic.

Also note: The participant also gets an idea of how much is left from the ‘Question 1 of 25’ indicator right at the top.

2. How Well Do You Know the World? Interactive Quiz

This interactive quiz makes good use of the publication’s existing content by turning an article (Places to Go 2017) into an interactive experience. Once the user clicks ‘begin’, they are asked questions about pictures, places, and topics that were featured in the original article.

Image source

Design-wise, this quiz is a lot more advanced than the previous example.

On the opening screen, the globe background moves to create a visually stimulating experience. Photographs are the main feature, and CTA buttons move the participant along. Again, though, text is minimal, and the motivator behind the quiz is to let the user test his or her knowledge – a challenge many readers can’t resist.

3. What Kind of Sleeper Are You? Quiz

This illustrated interactive quiz lets users learn more about their sleeping habits in a quick, 10-question assessment. Behaviors are the focal point here, and users have to select answers are most relevant to their own habits.

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Design elements are again minimal (noticing a pattern here?), but what’s different about this example is that the only non-text features within this quiz are simple, limited-color drawings that give the quiz a cohesive look and feel.

No photos, no Flash elements.

4. How to Stay Safe in the Great Outdoors Assessment

Published during the warm weather months, this quiz tapped into the fact that more readers would be going outdoors. With what could be life-saving information, users of this assessment get to learn safety facts in an interactive format.

Image source

Notice that this interactive content again puts existing materials to good use – photos from staff photographers accompany each question.

5. Copy Edit This! Quiz

Can anyone resist a skills test challenge? It’s hard, that’s for sure. This editing quiz taps into that competitive spirit with a text-based quiz that lets users try their hand at copy editing.

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No design elements here – text is the central focus. However, notice that the instructions for this interactive challenge is highlighted.

6. Climate Change Quiz

Here we see another knowledge test within the context of climate change. Pulling from past articles, this quiz sets up a great opportunity for participants to continue the forward momentum and click through to read more once the quiz is completed.

Image source

Jody Barton created custom illustrations that add some visual cues to the questions asked along the way.

7. How Smart a Traveler Are You?

For readers interested in the Travel section of the New York Times, this quiz is right on the mark. Who doesn’t want to find out how much they know about one of their favorite topics?

Image source

Not only does this quiz create an engaging experience, but it also promotes the publication’s travel-related content in an interactive environment.

Strengths and Patterns within NYT’s Interactive Content

With these seven examples fresh in your mind, let’s go over some of the common themes that run through all of them as well as their strengths as interactive content.

When looking at NYT interactive content, we can see:

• The design is simple. None of these have flashy graphics or are bogged down by text. Simplicity keeps the clutter at a minimum so there are no distractions to the path toward action. Most choose either icons for graphics of photography and stick with just one of them.
• It leverages a curiosity gap or presents a challenge. Whether it’s testing knowledge or enticing the reader to close an information gap, there’s always a click-worthy angle associated with the material.
• It helps the user learn more about him/herself. People love to learn about themselves. That’s why we so often see quizzes like ‘Which Disney Character Are You?’ circulating on social media channels. But the same interest applies for more serious subjects. So even if you’re working in data security, buyers want to learn what they individually need.
• It’s largely data visualization. Much of the time, these interactive pieces are just a different way to package existing data in a visually engaging format. It’s not likely this material was created from scratch.
• Progress bars let users know how much is left to complete. Letting users see where they’re at in the completion process lets them know how much is left and reigns in short attention spans.
• It closes with additional related content. Each of these quizzes closes with ‘read more’ links with related articles, making it easy for readers to discover additional content and to engage further with the brand.
• Regular publishing. NYT didn’t just produce their language-geography assessment in 2013 and then call it quits. They started incorporating interactive experiences as part of their regular publications, repurposing research and media they already had and adding a dimension to it.

Overall, each of these interactive pieces of content goes beyond the mere article format and offers something more engaging to the readers coming to the NYT site. It’s a successful strategy: Quizzes like these are highly shareable on social media and organically boost traffic through online word-of-mouth sharing.

What B2B Marketers Can Learn

So what can B2B marketers learn from the New York Times’s approach to interactive content?

For starters, B2B teams should take note of this approach and start integrating interactive experiences to keep up with audience expectations. As more and more publications and brands with mass-reach start tying in these types of content, it’s only a matter of time before it’s the norm rather than the exception.

Brands should also be thinking about how back-end user data can be leveraged. By experimenting with interactive content (think quizzes, assessments, videos with questions, calculators, etc.), brands can boost lead gen efforts and learn more about their audiences at the same time. As responses are collected, this is data that can be analyzed for patterns and trends – and it can help improve lead scoring efforts, too.

Lastly, it’s important to consider how interactive content can help grow on-going communications via email opt-ins. While the NYT might not be requesting an email address before or after their content, they are usually included somewhere on the page as a pop-up.

B2B marketers can integrate a short opt-in form within the completion process (For example: enter your email address to get your results!) at the end of a quiz or assessment.

Take Note: Make Interactive Content Part of Your Strategy

Does this mean you rush into cranking out a new interactive quiz each week? No. But it does mean that it’s time to seriously consider where interactive, engaging experiences should exist within your content marketing strategy. It’s not a “one and done” type campaign, but rather a full integrated throughout your content stages.

If the New York Times is finding that their audience responds well to this type of content, yours is probably next.

One of my biggest weaknesses is my impatience. I do all sorts of things to control it, or at least mask it. I sit on my hands, bite my tongue, count to 1000 then start over again.

Sometimes it’s a losing battle with myself. Recently, I was sitting with a group of sales people. It was a pretty large group of all different ages. One person started talking about how difficult it is to sell. Everyone piled on, whining about the difficulties they faced (you can see me betraying my impatience with the choice of words). The complaints were the same ones……

“It’s so difficult to get to see customers…..”

“All I need to do is get in front of them to pitch our stuff……..”

“There’s so much work involved in catching their attention….”

“They are moving so slowly, they just need to get on with it…”

“They just don’t know what they are doing……”

The conversation went on, I was trying to be patient, my tongue was bleeding I was biting it so hard. I had reached 1000, counting in my mind, and was up to 276 in the second round. Finally, I couldn’t restrain myself.

“Have you ever considered it from the customer point of view? Have you ever thought of how difficult it is for them to buy?” I asked.

Most of the sales people looked at me, cross eyed, I knew they were thinking, “Doesn’t he get it, we’re talking about how much trouble we have, now he’s taking the customer side of things…..”

But that’s just the point. Much of the difficulty we have in selling is a reflection of the difficulty the customer has in their buying process. Or, the difficulty they have is a result of difficulties we create for them.

Let’s break some of this down, in the hopes that by having greater empathy with what buyers go through buying, will make their journey and ours easier.

So why is it so tough to buy?

1. Buying, unless they are in procurement, isn’t their job. Our customers have their day jobs, the things they have to do in their own organization. Buying is an interruption to them, it takes time that they don’t have to buy.
2. Buying is only a small part of what they are doing when they are considering a change. We focus on buying, but the customer if focusing on solving a problem, managing a change. Buying is just one component of what they are doing–and possibly the easiest component of what they are doing. The really tough, time consuming part is the problem solving and change management. Here’s a great opportunity for us to create value with them, rather than focus on what we are selling, or even on their buying process, helping them with their problem solving/change management process.
3. Buying (and problem solving) is a consensus process within the customer. Many people are involved (at least 6.8), each has differing agendas, priorities, and requirements. Aligning the group, keeping them aligned is a challenge–it’s no wonder such a large percentage of buying decisions end in no decision made. Customer aren’t choosing not to change, they just get so frustrated managing the process, gaining internal alignment, they just give up–they stop the process and move onto other things. It doesn’t mean they don’t still have the need to change, but they need help in managing that process. Again, we can create great value with the customer by helping them with this process.
4. The buying group has to make sure what they are doing is aligned with the priorities and goals of top management and the organization. Regardless how well justified their solution is, if it isn’t aligned with the top priorities of the organization, their project won’t be approved. Understanding this, gaining management buy in is a huge challenge for the buying group.
5. They have to deal with clueless sales people worried about selling…….more on this later.
6. The risks they face are huge. Let’s face it, our risks are low–we don’t make a sale, we lose the deal and go on to other deals. If they make an error, if they make a bad decision, the impacts and costs can be devastating. In the least, they can lose their jobs, but they can impact the whole viability of the function/area they are trying to address, all the people impacted by the change, the costs/lost opportunities from a bad decision. Buyers, problem solvers are going to want to thoroughly understand and eliminate all risks possible. They want to have plans in place to manage the risks.
7. Again, buying is just a very small part of their concern. Once they’ve bought, they have to implement, which is, perhaps the biggest part of the challenge. They worry about this in their buying process, they worry about the change management, and they struggle in implementation. Again, this presents great opportunities for us to help them understand and manage the issues with implementation.

What about sellers making it difficult to buy? This is an endless list, but here are a few:

1. We focus on selling, not what they are actually trying to do, which is solve a problem. As a result, we aren’t being very helpful to them, and the degree to which we intensify our pitches, we make it more difficult for them.
2. We don’t understand them, their businesses, the problems they are solving, the challenges the face in managing change. We talk about what we want to talk about, not what the customer wants to talk about or needs to talk about.
3. We use their time poorly. We are often unprepared to deal with the issues they care about, consequently waste their time.
4. We don’t understand our products. Yep, that’s what the data shows. Customers complain that sales people really don’t understand their products, particularly the challenges the customers might face and must consider in implementing them.
5. We don’t care about them, we care about our sale! Enough said.

I’ll stop there, the lists of issues I get when I interview customers is endless.

So you can see how I tend to get frustrated in gripe sessions where sales people talk about how tough it is to sell. It is tough, it’s one of the most difficult jobs in business. Having said that, buying is probably tougher, largely because the stakes are higher and the process is more difficult.

Ironically, the solution for buyers and sellers is the same. If we focus on making buying, or even better, solving the customer problem easier, we will make our selling much easier.

Sales and marketing go hand in hand— or at least, they SHOULD. As an inbound marketing agency, we get asked all the time by our clients how to get sales and marketing to work together. Sales is told to close more business. Marketing is told to generate more leads. But if they’re not working as one, your sales and marketing teams will just be chasing their tails.

In a small company, sales and marketing functions are often the responsibility of one or two people with blended roles—so communicating goals and priorities is often simpler and clearer. But as an organization grows and teams begin to form, the lines of communication often begin to break down.

It’s not uncommon for marketing teams to have very little knowledge of the sales process, and for sales teams to be uninformed about the effort required to generate the leads they’re following up on.

Before you create a marketing strategy, it’s important to involve your sales team. Among other things, you need to make sure your marketing activities are designed to:

• Attract and educate the prospects that are easier to sell to
• Increase the efficiency of your sales process
• Generate enough qualified leads to support your growth goals
• Improve close rates

Here are three things your marketing team needs to give your sales team to help them achieve their goals.

1. More Qualified Prospects

Questions for your sales team: What are the characteristics of our ideal customer? What makes one prospect more qualified than another? What information about a prospect is vital to the sales process?

Answers from your marketing team: Work together to create an ideal customer profile that clearly defines the types of customers you’re trying to attract. Then identify and document the personas of the individuals you typically interact with during the sales process—their characteristics, pains, questions, and motivations. Make sure your branding and messaging are designed to attract the right people to your business, and that you’re giving them the information they need at each stage of the buying cycle.

Identify what types of information your sales team needs, and figure out how marketing can capture and pass along that information to sales. As you focus your marketing efforts on educating prospects, your sales team will spend more time talking to sophisticated buyers who are ready to purchase.

2. More Educated Prospects
Questions for your sales team: What information do you find yourself repeating to prospects? What questions do your prospects ask at each stage of the buying process? What are the emotions they feel (and what do you want them to feel) during their journey?

Answers from your marketing team: First, start by mapping out the stages of your buyer’s journey (Awareness, Consideration, Decision) and make a list of the questions the buyer has at each stage. Then create content that answers their questions and helps them move to the next stage of the process.

For example, create a downloadable eBook or checklist that can be posted on your website and can also be used by your sales team to educate potential customers. Or, host a monthly webinar that allows you to showcase your expertise and educate a number of prospects in a single educational session.

Before long, your sales team will be spending their valuable time nurturing relationships and closing sales instead of answering the same questions over and over.

3. Differentiation from your competition

Questions for your sales team: What factors cause us to lose customers to our competition? What makes our products and services better than those of our competitors?

Answers from your marketing team: Look at what your competitors are doing. Is everyone talking about their low prices, great service, and high quality? Talk to your customers—why did they choose your company over a competitor? Create materials that specifically address your competitive advantage, and make sure your messaging is unique.

Think about creating an eBook that addresses “The Acme Corporation Difference” or create a tip sheet that talks about the “Top 10 Reasons Our Widgets Will Blow Your Mind.” Your sales team can then use these materials to educate prospects about why they’ll love doing business with you instead of your competition.

In the end, your marketing and sales teams have the same objective: to attract the right clients to use and purchase your services. It’s up to these two teams to communicate with each other to address problems on either end. In the end, both teams need to be successful for your company to be successful.

A note from Alice: We all need more leads, especially qualified leads that are highly likely to turn into a sale. All businesses face challenges in generating and nurturing leads—whether they are large and have marketing automation or small where the owner does the marketing. Sales and marketing need to collaborate to make sure the lead flow is sufficient. We know that most lead nurturing programs don’t have an impact until the 5th touch and sometimes the 8th or 12th. A series of meaningful touches are necessary over a long period. My good friend Brian Carroll was kind enough to let me share this post with you to help you get better results from your lead nurturing programs.

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Lead nurturing is one of those things that’s easy to talk about but hard to do. In this article, I’ll share how to apply lead nurturing to help advance leads through three stages of your lead generation funnel to get more qualified opportunities.

Here’s the thing:

Our customer’s don’t see our funnels. They only have the aggregate experience of what they see, hear, and feel from us. Yet, it’s helpful to notice that all customer buying cycles fit into three distinct funnel stages.

Let me explain.

Three Lead Generation Stages You Need to Nurture

1. Top of the Funnel (TOFU): People at this stage are searching for ideas, tips, and resources to help them answer questions and get ideas for problems they’re facing. You’re attracting relevant visitors, but they are unknown. Your goal is to assist and provide enough value to get a conversion and move them from anonymous visitors to known people (e.g. name, company, email, etc.)
2. Middle of the Funnel (MOFU): At this stage, people took some conversion step to express interest (subscribe, register, or download, etc.). You need to learn if this person and/or their company is a fit and their level of qualification. You also want to learn about their motivation. During this stage, you’ll share content to help progress them from interest towards purchase intent.
3. Bottom of the Funnel (BOFU): People are moving through a series micro-decisions on their journey. At this stage, you’re moving them from being a lead to a sales qualified opportunity. This is where the hand-off from marketing to sales takes place and where people ultimately make the buying decision.

All three are part of an integrated lead generation funnel, and this article touches on each element while taking a closer look at lead nurturing.

Read on for five lead nurturing tactics that will help you move people who’ve expressed interest into sales-qualified opportunities.

Top of the Funnel: Use a Portfolio of Channels

Without lead generation, there are no leads to nurture, and I recommend a portfolio approach to lead generation involving at least three to four different lead types like the following:

• Online
• Email
• Events
• Inside sales/sales development

Don’t rely on just one primary lead source. The best marketers approach their work like a portfolio manager would run their mutual fund. Portfolio managers are always strategizing and testing, the optimal investment strategy. Think about it.

The following mind map shows some of the channels you can use in your lead generation portfolio.

Identify what’s working right now in your lead generation portfolio and try new things. Switch channels in and out as you test. Your top of the funnel lead generation becomes a multi-touch process when you use more than one channel.

You’ll find one channel is good at starting a conversation while another might work better at advancing your discussion. You begin nurturing leads from the moment you say hello.

One last thing. Look at your budget for top of the funnel. Marketers allocate the largest chunk of their budget to TOFU (channels, content, and martech).  I recommend you allocate about 20% to 40% to nurturing the leads you already have in the middle and bottom of your funnel.

Middle of the Funnel: Focus on Progression

First, the easiest way to begin lead nurturing is to look at the contacts you already have in your databases. How can you advance the conversations one step further? Think of lead nurturing as an extension of the conversation you started with TOFU lead generation.

Look at the relationships you’ve started through the different lead generation sources and ask what content or information can be shared to advance that conversation.

Tactic #1. Enable sales and inside sales during lead nurturing

Sales is an essential part of building your lead nurturing process. The ultimate goal of lead nurturing is to get more sales and advance more qualified opportunities into the pipeline.

You can invite sales to participate in the following ways:

• Get their perspective from talking with customers
• Ground test ideas for nurture messaging before you implement
• Share what they hear from clients and in the marketplace

If you’re wondering what kinds of content helps progress leads further faster, start by asking your sales questions like, “What’s the content you share with prospects that help them convert or move forward to the next step?”

The goal of lead nurturing is to help progress leads from initial interest toward purchase intent. It’s about progression. Salespeople often struggle with developing nurturing content without support.

Here’s an example of involving sales in the lead nurturing process.

Let’s say you just did a webinar or an online event. You can equip your sales development or inside sales team with a nurturing follow-up email template and content such as an executive summary or main takeaways from the webinar.

With that content, your sales team can call these leads and say, “I saw you attended our webinar last week, and we put together an executive summary and a two-page document with the main takeaways. What did you think of the event? Was it helpful?” I like asking, “What motivated you to register or attend?” When you understand a person’s motivation, you can better help them.

Giving sales this lead nurturing content provides them with a valid business reason to engage the prospect.

It’s about building relationships and adding value to people, even if they never buy from you. Empower your sales team to do nurturing.

Tactic #2. Nurturing as a small business

Larger companies with marketing teams will likely have tools such as marketing automation and CRM software that help automate parts of lead nurturing.

Small businesses, even as small as a one-person company, face challenges finding the time for lead nurturing.

The solution is to set up a nurturing calendar with a particular time every day, or at least once per week, to nurture the database. Create a plan to add value every time you touch your future customers with valuable ideas, content, and resources. Also, I recommended making this time either during non-business hours or during the non-revenue generating time and also suggested leveraging email or blogging to share content.

Example lead nurturing track

The tactics you employ and the frequency of touches will depend on what you sell and the buying process. In the following example I use a cadence of one nurturing touch per month:

1. Phone and follow-up “thank you” email
2. Educational third-party article via email
3. Send a blog post link via email and leave phone voicemail referencing email
4. Email with phone voicemail for upcoming webinar or event
5. Send with link to third-party article via email
6. Email relevant white paper or e-book via email
7. Direct mail campaign and follow-up phone call
8. Email section with follow-up call mention email
9. Email link to relevant podcast and ask feedback
10. Send Free report via direct mail with follow-up call
11. Invite to webcast via email with follow-up call
12. Email link with discount code or link to trade show you’re attending
13. They call you and become sales qualified opportunity

As you can see the above example is pretty simple. It uses email, phone, events, and direct mail as channels to share different types of relevant content. As you get more advanced, you can move from a single track to a multi-track nurturing based on further segmentation.

Tactic #3. Repurpose content for nurturing

Reuse the content you already have by repurposing it and use it in a new way. The first step is to take an inventory existing content and think of a way to extend that material.

For example, a white paper can be broken into three to five articles that share a point of view.

This is a good strategy because I see more and more readers who would rather read short nuggets of information than longer. I heard a speaker use the term “Nugifying your content.”

If you are doing live events, record the event and convert that video into another content asset. Post snippets of material as well.

Looking at the earlier webinar example, the executive summary and key takeaways provided to sales are examples of two additional pieces of content from one online event.

You are already creating content, you probably just don’t recognize it. So first, use what you have, catalog it and determine how you can bring new life to it. When you’ve leveraged what you already have, and have tracked it, then you can start finding gaps in current content areas.

Tactic #4. Curate and leverage third-party content

Third-party content is another great source of material for lead nurturing, and they bring you an added credibility through the halo effect.

Research where your customers and clients are going for information. I would start by first asking your sales team what types of content publications your customers are currently reading, where are they going for information and what are the questions sales is asking those customers.

Use online alerts to the main phrases in your industry to find content from bloggers and industry publications that are vendor agnostic and can share with your lead nurturing audience through a short synopsis and a link.

Tactic #5. Keep the touches coming

Most lead nurturing programs don’t begin to impact conversion before at least five meaningful touches.  It’s important to continue nurturing leads whether it takes five touches or 25 touches to get them to the sales-ready point.

For example, if you have a nine-month sales cycle, you should nurture a lead in those nine months, and that’s at a minimum level. So that means nine nurturing patterns during that lead.

Bottom of the Funnel: Convert More Opportunities

The goal of lead nurturing is to convert leads into highly qualified opportunities and ultimately customers.

If that relationship were a baton, there is a point in time where both marketing and sales hands are on the baton, and you are making that introduction. Make sure you’re clear at what stage marketing is going to hand the lead off so that sales can run with it, and so that you don’t drop the baton or drop the relationship.

You can find this ideal point in the relationship by leveraging lead scoring and lead qualification, and I recommended this lead qualification occur through your inside sales, sales development, or tel-prospecting team. There is only so much information that you can get off a web form, or that someone will volunteer in an email.

Even if marketing hands the lead to sales once the prospect is ready to talk to a salesperson, it doesn’t mean that marketing is done. What we are looking to do is help accelerate leads in the sales pipeline, and that is part of where we can work with the sales team to understand the key issues and problems to help drive conversion. This is called full-funnel marketing.

Conclusion

This post touched on all three stages of the lead generation funnel. At the beginning of the lead gen process, you most likely ask a lead to raise their hand and request more information. In the end, the prospect is ready to hand off to sales. The extended middle portion — lead nurturing — is how the lead proceeds down the path to becoming a converted customer. I hope you can apply these ideas to your lead nurturing and help advance more people through three stages of your lead generation funnel (TOFU, MOFU, and BOFU) to get more qualified opportunities.

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Thank you for sharing these ideas and tactics, Brian! To read more great posts from Brian, click here.

If you need help developing a lead nurturing plan that works for your business, I can help. Schedule a free strategy session with the Alice Heiman, LLC team to discuss the best ways for your company to generate leads.

The post How to Make Lead Nurturing Work for Your Business appeared first on Alice Heiman, LLC.

The summary is one of the most important parts of your LinkedIn profile. It’s the optimal place to showcase your passion, enthusiasm, and most importantly, your track record of results. However, many reps leave their summaries blank for a very simple reason: They don’t know what to write.

If you’ve got writer’s block, don’t worry. These LinkedIn summary templates will help you flesh out your profile in no time. Next thing you know, the number of opportunities in your pipeline will be soaring. For more tips and tricks on writing a strong summary for your LinkedIn profile, watch the video below.

LinkedIn Summary Examples for Reps

1. The “I Feel Your Pain” Summary

The most successful representatives know that sales isn’t about them — it’s about the prospect. When it comes to your summary, this principle is especially relevant. Remember, people aren’t reading your profile to learn about what a great person you are. They’re reading it to learn whether you can help them.

With that in mind, lay out the high-level problem your buyers face. Then, establish your credibility by describing who you’ve helped in the past. Finally, give a hypothetical description of what life would be like with your product. (Hint: Better.)

Here's the template:

[One- to two-sentence description of common prospect problem.]

But what if [key result of using your product]? In the past X years, I’ve helped Y [vertical/sector] businesses [accomplish X results] by [short description of product features]. [One- to two-sentence description of results.]

[Call to action.]

Here’s an example:

Looking at your site’s cart abandonment rate is probably pretty discouraging — after all, most retailers lose 70% of their customers right before the purchase.

But what if your percentage of abandoned carts was halved? In the past four years, I’ve helped dozens of online retailers capture these “lost” customers with targeted emails, personalized content, and more. Abandonment rates drop by 35% on average.

To learn how your business can stop losing sales at the final mile, please send me a message at johndoe@gmail.com or give me a call at 904-867-5309.

Why We Like It:

• It focuses on the prospect and how the rep can help them.
• It targets the prospect’s specific need.
• The rep ends with a specific call-to-action.

2. Your Friendly Neighbor Summary

Another way to build rapport is by using language that is familiar and friendly. This can create the sense that your audience belongs on your LinkedIn profile and reduces any intimidation they may feel about contacting you.

Hey there!

I'm [Name], and I [short summary of what you do].

[One- to two-sentence witty description on who you help and why.] So feel free to reach out to me if that sounds like you.

I also [personal detail], so if you want to chat about that, too, I'm all ears!

[Call to action.]

Here's an example:

Why We Like It:

• It’s short and straightforward.
• It explains her skills in her current job.
• She adds personal details and ends it with a call to action.

3. The Topical Expert Summary

One way to gain your audience's trust so that they want to do business with you is to get them to see you as an authority. In other words, you should instill in them the sense that you know what you're talking about. Here's a template that can help with that:

Did you know [Fact or statistic relating to the audience's pain]? [One- to two-sentence summary on why that's significant.]

[One- to four-sentence elevator pitch.]

[Call to action.]

Here's an example:

Did you know 69% of consumers will first try to resolve an issue on their own, yet less than one-third of companies offer self-service options? You have to wonder, then, about the other two-thirds: What amount of customer service resources are spent on issues the customer could've resolved without help?

I work with companies to identify these gaps in customer experience that are costing them money.

If you're working on improving the efficiency of your customer service department, click here to book a free 30-minute discovery call with me.

Why We Like It:

• The summary uses data and has an authoritative tone.
• It explains the rep’s skills in their current job.

4. The Story Summary

To grab your prospect’s attention (and more importantly, keep it), tell a story. Stories are not only engaging and memorable, but research also proves they are even capable of planting ideas, thoughts, and emotions in your audience’s mind.

Of course, not just any random tale will do. To demonstrate the value of your product and give you some credibility, weave a customer success story into your summary. If the featured customer matches your ideal buyer persona, even better.

Company X had a problem. [One- to two-sentence description of business challenge.] I worked with Company X to develop the answer: [One-sentence description of the package/product you sold them]. After that, Company X saw [one-sentence description of results].

Helping companies like X accomplish [company mission statement] is extremely rewarding — and I’m always looking for more opportunities to do so.

[Call to action.]

Here’s an example:

Graylin had a problem. Although the agency received hundreds of applications for every position they posted, less than 4% of those applicants were actually qualified. Without good talent, Graylin knew they’d have trouble winning new clients and keeping current ones. By revamping the firm’s employer image and recruiting strategy, I helped them boost the quality of their recruiting pool by 30% in eight weeks.

Helping businesses like Graylin engage and win top talent is extremely rewarding — and I’m always looking for more opportunities to do so.

If you’re interested in learning how a new recruiting strategy can benefit your business, please send me a message at janedoe@gmail.com or give me a call at 904-867-5309.

Why We Like It:

• It tells a compelling story that’s relatable to the target customer.
• It explains how the rep helped a previous customer grow.
• There’s a call-to-action at the end.

5. The Personal Motivations Summary

To create immediate rapport with your prospects, show them what makes you tick. Your openness will make you more trustworthy — not to mention, more likeable. However, you don’t want your summary to scream “me, me, me,” so tie it back into the product by describing why you love your job.

This summary style works best for fairly creative or informal industries, like tech, design, fashion, hospitality, and so on.

Here's a template:

[Three- to four-sentence illustrative anecdote.] As you can tell, I’m a pretty [adjective] person. This quality is constantly coming into play when I’m working with companies in [industry/sector] to [main purpose].

For example, [One- to two-sentence description of customer success story].

[Call to action.]

Here’s an example:

Why We Like It:

• It expresses personal motivation.
• It summarizes the previous position and how it helped him get into his current job.
• The summary includes a touch of personality and a quote for extra flair.
• There’s a call-to-action at the end.

6. The Personal Mission Summary

Similar to the personal motivations summary, this one relies on what drives you, with the goal of showing them who you are and what makes you tick. However, instead of personal attributes, you would start with the bigger picture: your mission, your vision, why you do what you do. This is particularly helpful to provide context to your motivations, especially if you have a varied background where your role didn't matter as much as the initiatives you supported.

My mission is to [One- to four-sentence explanation of your mission and why it brings you fulfillment.]

[Explain how your most recent role or roles connects to your mission.]

[Call to action.]

Here's an example:

Why We Like It:

• It explains her current position and how long she has been working in her current field.
• It alludes to the skills that make her valuable in her current role.
• She ends the summary with a personal touch.

7. The 360-Degree View

A common format for essay-writing, project management, and LinkedIn summaries is the 5Ws and an H: Who, What, When, Where, Why, How.

It's popular because it gives a 360-degree view of any topic you choose to write about. While the When and Where may not be pertinent to your LinkedIn summary, the others can help you create an easy-to-understand structure for your audience to understand:

WHO I AM:

[One to two sentence introduction.]

WHAT I DO:

[Briefly explain your role.]

WHY I DO IT:

[Explain your mission or personal motivation. You could also talk about outcomes/metrics here.]

HOW:

[Outline your methods or skills for performing the work.]

The neat thing about this format is that you can experiment with the order of the headings or even add new sections such as "WHO WE HELP:" or "RESULTS:" to provide even more context, like this example does:

Why We Like It:

• It explains the who, what, why, and how of their current role.
• Their personal motivation is evident.
• It remains simple and concise while still answering the four questions; who, what, why, and how.

8. The Factual Summary

Are your prospective buyers in a traditional sector, such as medicine, banking, academia, government, or law? If so, a clear, concise, factual summary is your best bet. Prospects will be used to formal, conservative language — so a creative or offbeat summary might suggest you’re not familiar with their industry and its norms.

It should not be only straightforward, your summary should also be concise and precise. Prospects in these industries will lose interest if your call to action is buried at the bottom.

As a [job title] specializing in [A, B, and C], I help [vertical/sector] companies [achieve main goal].

Over the past X years, I’ve worked with Y organizations, including [D, F, G].

If you’re looking to [business driver] in order to [accomplish desirable results], please call me at [phone number] or email me at [email address].

Here’s an example:

As a pharmaceutical sales professional specializing in Cardiology, Nephrology, and Endocrinology, I help hospitals, clinics, and independent medical facilities find the most effective medical and pharmaceutical treatment options.

Over the past 20 years, I’ve had the opportunity to work with many of the best hospitals in the country, including Massachusetts General Hospital, Cleveland Clinic, and Mayo Clinic.

If you’d like to discover new treatment options so you can deliver even better patient care, please call me at 904-867-5309 or email me at janedoe@gmail.com.

Why We Like It:

• The summary shows awareness of its target audience’s preferences by remaining factual and formal.
• The rep explains how they solve problems for people in the field.
• It includes a clear and concise call to action.

9. The Informational Summary

Want to start educating your prospect on the benefits of your product/service from the moment they click your profile? Try this approach.

To keep this summary from appearing too sales-forward, weave in your story, motivations, and wins as you tout your product/service. This highlights your accomplishments and humanizes your summary while positioning your company as a strong ally.

Here’s the template:

[One to two-sentence description of why you got into sales and why your current company is a great fit].

Through my work with [company], I’ve seen clients and companies:

1. [Benefit of your product/service]
2. [Benefit of your product/service]
3. [Benefit of your product/service]

One of my favorite testimonials to what [company] has done for a client comes from our friends at [insert client name]. They say, “[insert one- to two-sentence client testimonial].”

[Call to action.]

Here’s an example:

I got into sales because I love building strong partnerships and helping people succeed. From starting my own tutoring service in college to explaining the benefits of CMD Reporting to marketers today, helping people achieve better results is a passion of mine.

Through my work with CMD, I’ve seen clients and companies:

1. Decrease monthly marketing spend by 15%
2. Increase leads by 25%
3. Increase annual revenue by up to 35%

One of my favorite testimonials to what CMD Reporting has done for a client comes from our friends at Global Solutions Marketing. They say, “CMD helped us double our quarterly quality lead count and exceed our revenue goals every month since implementation of the reporting software.”

Want to learn more about how you can bring these results to your company? Please send me a message at johndoe@gmail.com or give me a call at 904-867-5309.

Why We Like It:

• The summary includes a personal element while still summarizing what the rep does.
• It lists accomplishments without coming off as sales-y.
• It explains how the services they provide benefit the client in the long run.

10. The Accomplishment Summary

Do you have a proven track record of success? Your LinkedIn summary can be a great place to share what you’ve accomplished. Recount a time you blew quota out of the water or negotiated a sale that helped your customer save time and money in the long run. Specify your successes and share your quantifiable wins along with how they helped your customer.

Sharing your accomplishments in an honest, straightforward way signals to the reader that you’re skilled at what you do, and that by working with you, they’re in good hands.

Here’s the template:

[One or two-sentence anecdote about your role].

Over the past X years, I’ve helped clients from Y [vertical/sector] businesses develop and implement processes that [accomplished X results] and saved [X amount of money] from their bottom line.

[Call to action.]

Example:

Why We Like It:

• It’s short and to the point.
• It explains why they like to do what they do and their experience in the role.
• They were specific about how they achieved their goals and the outcomes behind them.

11. The Keyword Summary

Leverage the benefits of search engine optimization (SEO) by including keywords your prospects are likely to be searching for in your summary. When you optimize your LinkedIn profile, use industry words your prospects are using in your search. That way, your profile is more likely to come up in search queries, potentially putting you in front of a wider audience of viable prospects.

For sales professionals, you may want to consider adding some terms your prospects use to your summary such as:

• Better performance
• Customer service
• Productivity
• Drive sales
• Growth
• Process improvement

While writing your summary, describe the key skills you possess that potential customers might be looking for. Just be sure not to let keywords overpower your voice. You still want your summary to sound natural and conversational.

Here’s the template:

[One or two sentences introducing who you are and what you do to the reader]. My ability to [demonstrated skill] and build genuine relationships lead to greater customer satisfaction and increased revenue for my clients.

In addition to this experience, my key skills include:

• [Search term]
• [Search term]
• [Search term]

[Call to action.]

Example:

Why We Like It:

• She uses keywords her prospects might be looking for.
• She introduces her employer and uses a slogan to pull people in.
• She explains her history while remaining concise and straightforward.

You may have noticed that these LinkedIn summaries have similar endings. In the next section, we'll talk about why.

Use clear, simple, and imperative language such as:

• Email me at...
• Message me for...
• Call [Phone Number] to...

This imperative language should also be paired with a benefit-driven statement that provides more context on what will happen if they take that action:

• ... to see how you can [benefit] by [metric]
• ... to book a 30-minute chat about
• ... for more information on our free program

A good sales profile summary will go a long way.

As we discussed in the post, there are many ways to go about creating your LinkedIn summary that can be tailored to you and your qualifications. After you’ve chosen your template and filled in the details, remember to always end your summary with a call to action that uses clear and simple language. Once you have completed all the steps, you’ll be well on your way to a more effective profile.

Editor's note: This post was originally published in January 2020 and has been updated for comprehensiveness.

Good online copywriting does more than just fill up the page, or offer fodder to the search engine algorithms. It also persuades. It encourages the reader to travel further down the sales path, either signing up for an email list, buying a product, or picking up the phone.

Or at least, that’s the way it should happen. We all know that much online copy just doesn’t move the dial; it doesn’t motivate the reader; and it certainly doesn’t improve the bottom line. That’s because it fails to persuade, often because it’s too steeped in tired, clichéd used-car-salesman tactics, or else bogged down in generalities.

So how can you make your copy not only pristine, but persuasive? Here are four steps to take right now.

Cut Meaningless Phrases

Consider this copywriting example: Our company produces world-class products that are bound to delight.

What does world class mean in this sentence? If your copywriting includes words or phrases you can’t readily explain, then it’s just not very good copy.

Specificity should always be your goal. Consider this rewrite:

Our products empower customers to increase their lead generation by 200 percent, representing the highest return on investment of any company in our industry.

Now that means something to your customers—and it’s better copy, because of it.

Use Numbers

Our second tip once again hinges on the idea of specificity. Simply put, using numbers and statistics is almost always more persuasive than speaking in generalities.

So, rather than saying that countless customers love your product, say something like, more than 200 businesses have trusted us with their email marketing needs, and we maintain an average 4.7-star rating among our clients.

Again, the specificity is eye-catching. It’s meaningful. It’s persuasive.

Get to the Point

A good rule of thumb with calls to action: Be direct, and tell your customer what to do next.

Consider these two variants:

If you’re interested in learning more, we encourage you to contact us at your convenience.

Or:

Call us now to start improving your lead generation by as much as 200 percent.

Which is more direct? And, which is more persuasive? The second, we’ll contend, is the option that conveys the most urgency and the most value.

Focus on Value

Your copy isn’t really about you. It’s about your customers, and the benefits they can gain from choosing your product or your brand.

Focusing on those benefits is the best way to persuade. Again, consider two variant CTAs:

Contact us today to learn more!

OR:

Contact us to empower your sales team and start capturing more leads.

Only the second option lays out a reason for your reader to take action—and that makes it by far the more persuasive of the two.

The debate continues between sales experts who advocate that cold calling is “dead” and those who see it as “alive”. Truth is, the traditional tactic of cold calling is very much alive and is an important strategy utilized by sales and sales leaders in high-growth companies. Despite this “dead or alive” argument, cold calling offers

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