How to Select the Right Lead Generation Media Mix

Most B-to-B lead generation campaigns involve multiple touches via multiple media channels. But how do you decide which media are optimal, and more to the point, how they work together to generate a qualified lead?

Closing the Funnel: How Marketers Use Data and Attribution to Deliver Better Leads and Enable SalesMost B-to-B lead generation campaigns involve multiple touches via multiple media channels. But how do you decide which media are optimal, and more to the point, how they work together to generate a qualified lead?

It’s an iterative process. The first step is to establish with the sales team their monthly (or weekly, or quarterly) requirements for the number of qualified leads per rep — or by product, or by territory, or whatever is needed. Then, plan carefully the media mix that will feed the machine.

The media mix is a function of several variables, which you need to research:

  • The ROI each medium can deliver, based on your company’s experience and industry benchmarks.
  • The medium’s availability. Some media channels are scheduled intermittently. Consider when the trade shows and conferences in your industry are scheduled throughout the year. Other media may be only intermittently profitable. Content syndication, for example, is priced all over the place. Can you get enough leads from this channel to satisfy your requirements?
  • The campaign’s time horizon. Digital media are faster to produce than direct mail. Business events can take months of planning before a lead emerges.
  • Lead flow requirements. For example, sales may need more leads in the first and fourth quarters.
  • Your business objectives. Are there particular geographies or industry targets you need to reach?
  • Media effectiveness. Media come and go, in terms of their power to attract business buyers. Thank goodness there are new and exciting B-to-B media arriving on the scene regularly.

Enter your research data into a spreadsheet, and play around with it as an iterative planning tool. The table here presents a simple hypothetical example of how this can work.

Calculating Costs Per Lead by MediumYou can expand this spreadsheet to include other key variables, like timing, geographic territory requirements and your ROI hurdle rates.

You are likely to end up with some very inexpensive leads in your mix, and that’s a blessing. The unfortunate thing is that, typically, these leads are unlikely to be enough to meet your revenue targets or support your sales force’s quota. So you’ll need to select several options — ranking them by ROI, availability and your lead flow criteria — to come up with the optimal mix.

Multiple media working together generate better results than single media, with one big proviso: The messages must be consistent across media. An inconsistent message can cause confusion and erode the value of your brand.

Pulling this off is not always easy, especially in larger companies. You have to coordinate functional silos with their own managers, vocabularies, cultures, budgets and objectives. This requires tenacity, a focus on the customer experience, and support from senior management. But the payoff is colossal. All outbound contacts with customers, whether they are customer service messages or even billing-related messages, can potentially be harnessed for the lead effort.

A simple technique is to put the company URL on all messages received by customers. The same principle applies to customer touch points that are less obviously part of marketing communications, like packaging and invoices — any point where the customer comes in contact with the product or service. Be sure you have a gated offer prominently positioned on the home page.

Similarly, some ongoing marketing communications channels can be designed to support lead generation. To stimulate your thinking:

  • Ensure that all brand-awareness advertising includes an offer, a call to action and a response device.
  • Include a white paper offer, with response instructions, such as an 800 number or a web form URL, in your press releases.
  • When executives give speeches, invite your customers and prospects to attend.

Lead generation can harness all kinds of media channels, if you give it some thought and planning.

A version of this article appeared in Biznology, the digital marketing blog.

Marketing to Millennial Business Buyers

The Millennial generation has been out in the workforce for a while now, and this cohort is now entering the stage of their careers where they are part of the business buying process. Much has been written about Millennial preferences as consumers. But how about them as business buyers? Let’s take a look.

The Millennial generation has been out in the workforce for a while now, and this cohort is now entering the stage of their careers where they are part of the business buying process. They may not all be decision-makers quite yet, but they are certainly important influencers. So we B-to-B marketers must consider how to appeal to Millennial business buyers effectively. Much has been written about Millennial preferences as consumers. But how about them as business buyers? Let’s take a look.

Millennials were born in the range of 1977 to 1995, more or less — some researchers put it at 1980s to 2000s. So they range in age today from around 20 to late 30s. As consumers, they are tech dependent, they value authenticity, and they are attracted to brands that think and act like them. Here’s what this means to B-to-B marketers.

Broaden your communications media channels. Millennials prefer mobile text, and IM networks like WhatsApp for direct messages. For advertising, use social media like Facebook and LinkedIn.

Streamline your lead gen. Make it effortless. Use auto-populate techniques for forms, where possible. Ask for minimal data elements (but fill in the company profile using an outside provider like ReachForce).

Mobile-enable all communications. This means mobile-friendly website and email formats.

Ask for referrals. Millennials are very loyal, once they establish a trusted connection with a brand. So they are likely to refer, especially if you ask.

Avoid marketing speak. Be real, authentic and truthful (they fact check). Get to the point, fast (but make plenty of information available if they want it). Don’t be too serious — make them laugh.

Don’t sell too hard. Not only do they fact check, they’ll also look at reviews, comments and other online validation.

Be active on social media. The B-to-B value of social has been proven again and again. But if you’re still not convinced, the behavior of Millennials should be enough to put you over the top. This generation expects you to be tweeting, blogging, posting on Facebook, and participating in LinkedIn groups.

Tell stories. These buyers respond to emotion. Use case studies, testimonials.

Treat them uniquely, not as a member of a group. This translates into taking full advantage of personalization techniques, like dynamic web page serving and data-driven customized messaging.

Talk about efficiency, and results. These are the themes that interest Millennials. They want to operate faster, cheaper, better. And they want their efforts to change the world. If you can help with those missions, say so. These are the product positioning angles that are meaningful to the new business buyer.

Any other ideas to add to the list?

A version of this article appeared in Biznology, the digital marketing blog.

Help! I’m Being Stalked by a Bathtub!

As a marketing agency, we’re always recommending different media channels to our clients depending on the product, the target audience demographics, marketing goals, etc. And, like many of you, I thought online retargeting was a clever way of “helping” to remind browsers that since they had been interested in a product/service at one point, they might still be interested in making a purchase from that site, so a little tap on the shoulder seemed like a clever way to stay top of mind. Until it happened to me.

As a marketing agency, we’re always recommending different media channels to our clients depending on the product, the target audience demographics, marketing goals, etc. And, like many of you, I thought online retargeting was a clever way of “helping” to remind browsers that since they had been interested in a product/service at one point, they might still be interested in making a purchase from that site, so a little tap on the shoulder seemed like a clever way to stay top of mind. Until it happened to me.

Retargeting, for those of you who may not know, involves having an advertiser drop a cookie into the consumer’s browser which enables the advertiser to follow that consumer around and display an ad for the advertiser after they’ve left the original site.

The logic is sound, the process is relatively simple, and it seems to make good marketing sense. Before it happened to me, I equated it to shoe shopping. I visit a store and see a pair of shoes I like. I try them on, but since I haven’t really looked in a lot of other shoe stores yet, I decide to put off the purchase until I’ve looked at all my options. But in the back of my head a little voice keeps whispering, “Those black patent kitten heels were perfect—even if they were $100 more than you wanted to spend.” I may or may not go back to that first store to get them but I do think about those shoes for quite a while—and with my luck, I return to the store only to find they are now sold out in my size.

But if I was shopping online and the shoes I liked were at Retailer A, I’m now seeing ads for those shoes no matter where I cruise on the Internet. Yep. Those black patents are now stalking me. Not whispering, but shouting out to “come back!”

However, I must confess that my recent stalking incident was not about shoes at all, but about bathtubs.

My husband and I are remodeling a bathroom, so I’ve spent quite a bit of time searching for the perfect bathtub online. Yesterday I actually placed an expensive bathtub in my shopping cart and proceeded to check out, but at the 11th hour started thinking that maybe my contractor could purchase the same tub for a better price. So I abandoned my cart. And in the process, it seems, launched obsessive tracking behavior that could only be rivaled by a professional stalker.

No matter what site I visited while researching client-related work, bathtubs kept appearing. Some were in the upper right hand corner of the page, so as I scrolled down the page they would disappear from view. Whew!

Others seemed to travel down the page with me … tumbling tub over tub with prices flashing, offers blazing and the lure of a long, hot soak compelling me to glance … nay linger … on the designer tub dangling within the reach of a mouse click.

But since I had no intention of completing the purchase transaction without the nod from my contractor, the ads seemed to get more annoying than helpful as the day went on. At one point, a colleague was looking over my shoulder while we were reviewing some online research. After looking at the page for about five minutes, she pointed to the tub ad and commented, “That tub reminds me—did you finish remodeling your bathroom yet?”

Intellectually I understand why retargeting is so valuable. Statistics show that 95 percent of users leave a site without making a transaction, and the ones retargeted are 70 percent more likely to complete a purchase, so it makes perfect sense to retarget.

However the default setting for most retargeting platforms is 30-90 days, so if you’re planning to include retargeting in your marketing mix, think carefully about cookie duration and ad fatigue. Because right now, my fatigue is only off-set by the dream of a long, hot soak in my new tub—cookie-free.