One of the most common ways to generate leads for B2B scenarios is Email campaigns. Are these effective ?
I have done email campaigns as well and my experience with them has been mixed. There were a few campaigns that generated a lot of responses and some which were real duds without even a single response. This made me analyze both the campaigns to understand the difference and the cause for such in-consistent results. The crux of the analysis is as below:
- Successful campaigns were those that were targeted at my current/past customers for new products or services. These usually resulted in a lot of resposnes and also the conversion rates for these campaigns was also higher.
- Campaigns that were targetted at new prospects (from a generic list) were the ones that were duds with no response or meagre response. Even the one’s where I got resposnes were the prospects with whom, I already had a discussion (on email or over phone or met) already.
This suggests that Email campaigns are best suited for promoting new products/services to existing customer base rather than new prospects.
The importance of right packaging and branding can never be under-estimated. A product/service when packaged (including the branding) well, can be a big differentiator by itself.
One can create an instant connect with prospective customers with the branding and packaging.
One such example is being illustrated by Seth Godin in his blog “Telling a story on the label“
I was browsing for some interesting videos and found one – “The Anti Creativity list”.
Very interesting compilation…
The question we need to ask ourselves is this :- Are we one of the guys who use this list in our day-to-day work ?
I received a comment on my previous blog on sales process that if there is no demand for a product/service, improving the sales process might not have any benefit.
True. But how do you know if the decline in sales is due to lowering demand for your product/service or is it due to some other reason.
My belief is that as long as your product/service is able to solve a key challenge for your customer, the demand for your product/service should not decline. If it still declines, the culprit lies in the process.
A follow-up question is, how, when and how often do we check if our product/service is still relevant for our customers. Do we have a process in place for this ?
Whenever there is a decline in sales, what is our first reaction – we try to figure out what is wrong with the market or the sales team or the product/service being sold. We try to come up with new campaigns, discounts schemes or offers.
The thought that there might be a flaw in the process almost never occurs to us.
And this is exactly what provides us an interesting opportunity to explore. How much improvement in sales can we get by improving the selling process ? Can process efficiency drive sales numbers ?
These are questions that are worth exploring for all of us who manage sales.