As marketers, we all realize the importance of continuing to fill the sales pipeline - but it becomes especially important during times of economic downturn. It also makes it that much more difficult. Every sale matters and every marketing dollar must be spent wisely in order to yield the highest return.

If budgets are tightening across the board, they are definitely tightening for marketers in smaller businesses as well. I came across a recent blog post from Marketing Studio which takes a look at how smaller businesses have been impacted, and it found that 60% of the respondents stated webinars, case studies/article and blogs are the most difficult lead generation tactics to execute.

I think it is safe to say that executing such lead generation tactics during this recession is a tough job for small/mid-sized/enterprise businesses alike. However, I would think it hasty to move lead generation resources away from “difficult to execute” tools such as webinars/webcasts and case studies.

TechTarget recently conducted its 2009 Media Consumption Report which observes how IT pros are consuming media during the recession. The following slide highlights the report’s findings showing that webinars/webcast & case studies are of use to IT pros during both the consideration to decision phases of their buying process.

Key findings from this report also concluded that given the recession, IT pros need content which will:

• • CUT TO THE CHASE - Be efficient - tell them what they need to know, in order to help make their research process faster.
• • SHOW OFF SUCCESS - Highlight content showing the proven product success or case study/vendor comparisons.
• • BE ON THE SHELF - Maintaining presence is key given search is one constant medium which IT pros rely on throughout ALL phases of their buying cycle.

While marketers may find it more difficult to execute on lead generation tools such as webinars/webcasts and case studies - I would have to agree that they can be very effective tools during a recession. In fact, I have noticed an increase in the use of case studies in technology-focused lead generation campaigns. Often times in the form of syndication or as offers incorporated into display advertising.

What are your thoughts? How are you currently highlighting your organization’s success stories?

An old boss once told me that success happens when preparation and opportunity meet. This also holds true for targeting an audience with your marketing campaigns. I’ve been thinking about the evolution of targeting and how it has and, in some cases, has not progressed. As marketers, we often default to the basics of a targeted audience’s make up: title, industry, role, technical characteristics and so on. Why not first think of project, responsibility on the buying team, interest level, purchasing stage…  Because targeting is not just about capturing the right audience at the right time, it is also about the investment you make and passing on the most likely opportunities for sales to engage and close. Helping sales save time, effort and hard costs and focusing efforts on the opportunities that really matter could move those opportunities along faster as well as save budget and resources.

So, how do we do this? Employ a targeting strategy that takes into account activity, content and context at least as much as demographics. Finding an active, interested, engaged audience can help your marketing campaign by providing a better starting point for your qualification and selling efforts. How you use the intelligence from the activity, content and context can also better shape the follow-up approach to lead qualification. Think in context of the enterprise technology buying team. All the leads that you capture may not have ultimate authority or the need may be latent, but knowing their role can help with qualification by determining the type of questioning and relationship that sales would want to build. This type of strategy can help you identify the urgent, actionable leads that inside sales and field sales can jump on quickly and can put the proper emphasis on the leads that matter.

Marketers spend a lot of time on content creation, really thinking through what they want to offer the audience to educate them on products or services. More time goes into a catchy or succinct title and promotional copy that will act as the hook to reel the leads in. Everything in place, great content, strong title, informative copy and then…there is the “Registration” page. It can be a marketer’s best friend or worst enemy.

Demographic questions are typical and most respondents are used to providing answers to them in return for content. In addition, many sites have pre-populated registration pages for return users. But what is your strategy with additional qualification questions? On the one hand, qualification questions can give marketers a large amount of information about their prospects. It can help them bucket the leads for their sales teams - offering the hottest ones first and highlighting leads that need more nurturing. However, it’s important that you have a sound strategy behind each question asked.

In our experience, people collect qualification data in several ways. Some options include:

• • Make questions mandatory
• • Make questions voluntary
• • Ask questions in steps, as prospects download more information, ask more questions
• • Don’t ask any questions until your sales team or telesales contacts them

If making questions mandatory, make sure that the question asked is deemed important for qualifying leads for sales. Having mandatory questions increases the rate of abandonment, so the quantity of leads will decrease, but valid responses can lead to a quicker sales cycle. Keep in mind that our recent Google/TechTarget study revealed that only 30 - 40% of respondents provide valid information. They are more likely to share valid qualification data the further along they are in the buying process. Bottom line, be sure you are asking the questions for the right reasons and have a sales strategy in place that will make the most use out of this information. Do not use registration questions as a survey or if the lead is going to be called on regardless of the answers.

Making qualification questions voluntary is an effective way of collecting reliable information with decent conversion rates. In this Pardot blog there is a case study of a company who tested this option and had some surprising results.

Asking questions in steps, as Adam Blitzer of Pardot outlines in his blog, can help build a greater trust between the marketer and the prospect. Also called “progressive profiling” this strategy allows an interaction or relationship to build between the vendor and the lead. Prospects feel they are offering their information, but also getting something in return be it a white paper, webcast, case study, etc.

Another option is to not ask any qualification questions. This option would increase conversion rates and would use a lead nurturing strategy to truly qualify the leads further.

Therein lies the question - Do you put a strategy in place in which marketing and sales work together to define what is a “HOT” lead or if a lead is a lead is a lead, do you collect as many leads as you can and call them all?

Today’s economic climate is definitely impacting how IT marketers are measuring their online marketing programs.  There is so much pressure to deliver qualified leads in a timely fashion that will ultimately convert into opportunities.  I know that in my conversations with my information security clients, this is definitely top of mind for them.  However, it seems to me that because of this pressure by senior management, marketers are losing sight of the basic fundamentals of a successful online program.

As I’m sure you’ve all heard before the old saying that ‘content is king’ and the foundation to a successful program.  Now, that is truer than ever.  I was recently talking to one of my security SIM vendors  about the challenges they were facing - trying to establish themselves in their technology market, make a name for themselves and differentiate themselves from their competition - in addition to generating qualified leads that they could pass along to their sales team all while proving ROI in a timely manner.

Not an easy task… However, what I’m discovering is my clients want to reach these end stage decision makers - who doesn’t - but are utilizing content assets that are in the early phases of the buying cycle and attracting users that are in the research mode.  This really gets back to mapping content to the stages of the buying cycle.  If you utilize content that is educating people about a technology, you are bound to attract users that are trying to educate themselves and aren’t close to creating a short list much less make a purchase.  It’s very important to stay in front of people that are creating their short list of vendors with the appropriate content but if you want to reach the end stage buyers, you must give them the content that will appeal to them.

Our Google research provided tremendous insight into how users are searching when they are in the end stage of the buying cycle utilizing comparative phrases to learn more about the vendors’ solutions that are on their short list.  Creating content that compares your solution to your competition is easy to do and simple ways to reach the prospects that are either researching your solution or your competitions’ solutions!  So, if your marketing objectives include researching these end stage prospects - and I’m sure that includes all IT marketers - be sure to create content that speaks to this audience.

Budgets are tight, the need for measuring ROI of your marketing investment has never been greater, and as a technology marketer, we can use all the help we can get. With the mantra of “Doing more with less,” we need to have an approach that can not only get us through these tough times but can put us in a better position than our competition when we get to the other side. Here are a series of tips for IT marketers to help market successfully in this tough economy:

10. Monitor the competition and the market. If your competition is cutting back, consider adjusting your marketing budget and attacking the market with your message. This will provide a great opportunity to capture - and retain - market share. A recent post on the MarketingProfs blog refers to a study of 600 b-to-b companies by McGraw-Hill Research.

In this study, they found that businesses that maintained or increased their advertising expenditures during the 1981-1982 recession, averaged higher sales growth during the recession and in the three years following. By 1985, sales of aggressive recession advertisers (those that either maintained or increased spending) had risen 256% over those that cut-back on advertising. In 2001, another study found that aggressive recession advertisers increased market share 2 ½ times the average for all businesses in the post-recession economy.

Thinking post-recession maybe hard to imagine now but companies that do will reap the benefits. I found some good information from StrategicOxygen’s blog on this topic that you might find useful.

9. Focus on lead generation efforts with direct-response techniques. In email and online campaigns, use hard-hitting copy with simple benefit-oriented, convincing language, an informational offer relevant to the prospect’s topic interest, and a strong call to action. Focus on the problems that you solve for your customers and how you uniquely address them.

Lead generation is where the rubber meets the road and with this economic situation, you need to focus on the basics of the audience, your message, offer and the call to action. Getting focused so you have the right audience responding in the right way to the right offer taking the right steps will help your efficiency as well as effectiveness of your program and get you the results you want.

Providing leads to the right person at the right time is what opportunity management is all about. You can categorize leads according to territory, product, lead source, level of urgency, or new vs. existing customers. Leads can also be escalated if, for example, they have a short timeframe in which to make a decision, or a ready-approved budget, or if they have a particular urgency or a high value associated with them. With the right technology infrastructure, companies can automate the distribution of leads according to predetermined criteria. This removes the burden from the support staff, and ensures that leads really do reach the right person at the right time.

Best Practices for Opportunity Management include:

•  Marketing should continue to engage with Sales Qualified Leads (SQLs) - The marketing process does not end with the hand off to sales.
•  Define the level of ownership, responsibility and accountability when Marketing Qualified Leads (MQLs) transition to SQLs.
•  Connect the marketing system used for tracking and reporting in Inquiry Management and Prospect Management with the sales forecast system to establish seamless closed loop tracking and reporting for deals closed and revenue realized.
•  Document the process from marketing to sales and sales activities post transition.
•  Consistent follow-up by marketing with sales on leads passed and status within the process.
•  Must resolve the timeframe issue of the handoff of MQLs to sales acceptance of SQLs; one solution could be to automatically populate the MQL to the sales forecast system after a defined period of time, for example 3-7 days.
•  MQLs rejected by sales go back into the nurturing process until they are identified as MQLs.

Track, Measure and Improve - Key to Long Term

Disciplined, constant analysis and reporting while a program is live is the key to demonstrating success, or perhaps identifying what needs to be improved while a program is live. With Sales and Marketing going through a planning process at the beginning of a program, everyone should understand what is being measured, the milestones, and the key success metrics. This information should be tracked, measured and benchmarked against other campaigns. When the ROI at each stage from each campaign is accurately reported, trends and patterns start to emerge to help develop future programs and improve the overall lead management process.

I am hearing from many technology marketers that — in a time in which marketing activities need to deliver tangible results within a tighter timeframe — it is imperative that marketers allocate a portion of their budget dollars toward campaigns which capture more late-stage, actionable leads.

To accomplish this, marketers often use pay-per-click programs that point towards product trials and online product demonstrations.  While these types of programs result in marketers competing for a relatively small pool of leads, they do generate significant results because they reach potential buyers in the late stages of the research and purchase process - the “ready-to-buy” prospect.  

Recent TechTarget market research indicates that “try-before-you-buy” programs are particularly effective in the Application Development software space, because the developer community is immersed in the types of tools and products that they are encountering or implementing on a daily basis.  In the developer community, we see that implementers have a high degree of influence on the IT purchase decision.  The “try-before-you-buy” method is very important in building their loyalty and trust, and provides the IT marketer with an opportunity to demonstrate both the quality of the product, and, in many cases, showcase the quality of the customer service supporting the product.

Also, because the developer community places a high value on peer feedback and product recommendations, marketers can leverage social media to reach this group by providing a platform for experts within their organization to engage prospects in discussions about market trends, not just to gain exposure for their product, but build a rapport with — and establish a degree of trust within — the community.

Finally, although there is a significant benefit to offering downloads and trial versions of software to generate leads from prospects in the final stages of the research and purchase process, it is important that this not be the sole focus of your marketing efforts to the detriment of campaign elements supporting your branding efforts or reaching potential clients at the early and mid-stages of the research and purchase process.  You still need to maintain program elements to generate leads that will generate sales over an extended period of time.

While there is no “silver bullet” formula for what percentage of your marketing budget should focus on long-term or short-term leads, it is important that your plans include a mix of elements - like topical whitepapers to reach IT professionals at the very start of the research process, Webcasts and Webinars to reach mid-stage prospects, and virtual tradeshows to facilitate direct contact with prospective buyers.

Let’s face it; the current state of the economy has everyone, including IT marketers, concerned about their short- and long-term goals and the budget expenditures required to reach those goals.  A recent trend we’ve seen is IT marketers saying they only want to do highly filtered marketing campaigns to deliver only leads from a very limited demographic group that will deliver immediate sales.  And, if they have any funds earmarked for branding campaigns, many marketers think they should reallocate these branding dollars for use on lead generation programs.  While every online marketing campaign should deliver a percentage of immediately actionable leads, in many cases these short-term campaigns are being done to the exclusion of activities that will help generate sales over the long haul.

The danger of this approach is obvious — when the economy improves, marketers focusing exclusively on generating leads for immediate sales will have no supply of leads in their pipeline, and will have to start from scratch to rebuild one.  The situation gets worse if their competitors have been nurturing leads to generate sales over an extended period and now have a large pool of prospects at various stages of the research and purchase process.  If you find yourself on the wrong side of this situation - without leads in the pipeline — you can be certain of one thing: your competitors will be taking sales away from you for a very long time until you catch up, if you catch up.  The key lesson here: Even if your budget allocations are being scrutinized in the short-term, IT marketers need to think long term about future sales and be prepared to defend allocations of budget dollars to maintain a sales pipeline. 

An empty lead pipeline and loss of long-term sales are not the only problems associated with highly filtered campaigns.  If all or most of your competitors are also implementing this kind of limited marketing program — focusing on the exact same demographic profile at the exact same stage of the purchase process (ready to buy) — you are all competing for a limited universe of leads.  As a result, the volume of leads generated by campaigns will be smaller, the cost per lead will be higher, and everyone will be competing head to head for the attention - and dollars - of this limited group.  Under these circumstances, IT marketers should considering relaxing their demographic criteria to reach a broader group of potential customers engaged in the earlier stages of the purchase research process.  It’s also a good time to expand the range of content (broad industry-oriented, topic/issue-specific, product focused, etc) and the content types (white papers, Webcasts, Podcasts, downloads, etc) you offer to meet to the information needs of all the different decision makers involved all stages of the research and purchase process.

The upside of a down economy?  Current market conditions also offer companies - particularly smaller, less well-known ones - an opportunity to take market share away from their larger competitors.  In tight economic times at major companies, very often, the first marketing budget item to be cut or reallocated is branding.  If your company has had problems competing against bigger names — now is the time to get out there and seize market share by increasing your branding efforts.  If your competitor’s campaigns are focused on generating short-term results, focus your efforts on creating campaigns that will deliver consistent results over the long term.

What impact has the down economy had on your marketing campaigns and programs?  Is upper management questioning your budgeting decisions?  What due diligence actions are you taking to make sure your lead pipeline stays filled and delivers short- and long-term sales?  Let us know what you’re experiencing and seeing out there. 

We have been discussing the ongoing shift in power in information technology purchasing from seller to the buyer in this blog for some time now. In this new era, a potential IT buyer can fully educate themselves about a company’s technology offerings and formulate purchase consideration before ever speaking to a sales rep. Therefore, it is no longer the IT marketer’s job to generate demand, but to facilitate demand. Facilitating demand is making certain that you are providing potential buyers with all of the content and information that they need to educate themselves about what you have to offer. Which means your marketing efforts will go only as far as the content you can provide.

In order to ensure you keep up with IT buyer demand for information, you need to get the most out of every piece of content you produce. For example, if you create a webcast, transcribe it and turn it into a white paper. Or edit the audio portion and turn it into a podcast. Or take your broad white paper and create multiple versions targeted to industries you work with/sell into. Possibilities are endless. This approach will allow you to most effectively use multiple distribution channels to capitalize on prospect media format/information consumption preference and maximize interaction opportunities. Also, do not be afraid to offer content in different formats together. Recent campaigns we have run that promoted a webcast and podcast on the same subject together have seen very low duplication rates.

Online marketing is not just about reaching out to your target or potential customer with emails, search marketing and banner ads, today it is much more.  It’s about making meaningful connections utilizing various platforms such as blogs, forums, social networks and videos and in context with what your target is really interested in.  In Barry Harrigan’s blog, What IT Marketers Can Learn from Guitar Hero, he poses the question, “So what does Guitar Hero III have to do with IT Marketing and lead generation?.”

He states that “While IT Marketers may not be able to market technology with flashy outfits and expensive instruments, we can allow our users to personalize their experiences while they are researching technology on our Websites. If users are given choices - in what they see when they log-in to our sites, in how their personalized pages are designed, and as to the content that appears on their pages, they are going to feel more connected with the Website.

TechTarget has incorporated this contextual approach to help our clients connect with prospects where and when they want to be reached with contextual ROI marketing opportunities such as All-in-One Guides, Supercasts, Topic-Focused Schools, Topical Infocenters and more.

Is your company stepping up marketing efforts to make meaningful connections with prospects by incorporating contextual or new marketing platforms?