By Terrance McDermott
Reactions to the pandemic have all but eliminated in-person contact between B2B sales professionals and prospects, leaving some wondering, “How do I promote my business now?” The looming economic uncertainty also adds the marketing challenge of potentially generating and pursuing prospects who may not even know their true budget authorisation or their organisation’s near-term needs.
One clear pivot is to focus on strengthening relationships with existing customers. In the best case, perhaps it leads to an upgrade, an upsell or new users within an existing customer organisation. At a minimum, it is an effort at customer retention.
Unlock the Value of Your CRM Data
All organisations should take another look at their CRM database. No matter the sophistication of the marcom tech stack, the CRM system can yield a gold mine of avenues for marketers to pursue. Minimal contact information, even for key daily contacts? Figure out how to add name and phone number. Ask the sales team, search for the e-mail naming convention. If need be, call the main number! Extensive information about various influencers and decision-makers? Email them your most recent industry information. And if you don’t have something recent, create it! Build an infographic, create a survey and share results. Find a video of an industry thought leader and share the link. And there is a lot of room in between.
Understand Your Customers
In addition to strengthening relationships, marketers can also seek data. Now is the time to become a LinkedIn expert. Is the LinkedIn insight tag loaded on your website? Add it and begin learning more about the visitors to your website, and a small re-marketing campaign will be a quick addition. From there, you can learn more about the content consumed by the industry you market to. That provides direction for the next piece of content you’ll produce.
An organisation with extensive CRM data can use LinkedIn’s matched audience features for an ad campaign that will reach the exact people in the CRM database and others at the company. Then, the current environment presents a perfect opportunity for marketers to declare which other contacts at a current customer can influence upsell or retention. We often work with clients to define the buying group early in the sales cycle, but it is just as relevant for retention or upsell. Determine the title of end-users for your product, understand who may have originally created a vendor search with the assistance of procurement and investigate who within a client organisation helps determine “value.” Small marketing campaigns to reach those individuals at an important client will help make them advocates for you – either in the face of a competitor, or for an add-on that will more fully use your product.
Make a Plan for Growth
Now you have an expanded audience of influencers for whom you can adjust existing content or create something new. By this point, you have built an account-based marketing plan without ever making the declaration. You know the companies who are your current customers, thus similar companies are easier to determine. You know the content those customers consume. You know the titles at those companies who use your product. Now you can fill out your database with added information to strengthen relationships.
Of course, LinkedIn is just a first step, and many marketers already use its capabilities to the fullest. Microsoft, which owns LinkedIn, has slowly expanded opportunities to use LinkedIn profiles outside of LinkedIn itself. You may now be in a position to push further with data vendors who can help build a stronger and updated list, media vendors who can help you target the exact people you want to reach, trade publishers who can burnish your thought-leadership credentials, and other martech providers who can help push you up the learning curve. There’s no shortage of martech vendors.
But the best way to put them to work for you is to first understand your customers, the individual influencers and end-users within customer organisations, and what they need from your product or service. From there, whether you are equipped to go fast or you must go slowly, upgrades and upsells are the clear next steps.
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Terry McDermott is a digital evangelist with expertise in turning objectives into strategic plans and developing, executing, and measuring demand generation programs. He leverages his background in direct response techniques, including CRM marketing, to develop insights that build lead gen and customer acquisition campaigns. He also creates account-based marketing programs for key prospects, selecting targets via predictive modeling and creating marketing automation campaigns to nurture and score leads. Additionally, McDermott advocates for investments in emerging digital products, technologies and channels, while building and managing teams to generate leads, boost sales and increase awareness.