Question

Topic: Strategy

Marketing Conundrum - What To Do Next?

Posted by d7bmmb1 on 250 Points
We have a successful business that has done well with existing business, but not with acquiring new business. We have tried organic SEO and received lots of leads and only 1 deal from it. It didn't pay for itself. We then tried email marketing through one of our lead sources. These leads would be considered 'warm', and, unfortunately, we got nothing from that campaign either. A 'test' of 1400 of their customers. We keep coming back to the study of LinkedIn as a viable lead mechanism, however and understandably, we're shy after going through 2 mishaps. We're a true business to business play, and have struggled to obtain new business over the past few years. We're stuck right now, and not sure how to proceed. Can you offer any help or suggestions?
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RESPONSES

  • Posted by Jay Hamilton-Roth on Accepted
    Instead of looking at the tactic, you may need to look at the value of your offer. What are you selling? To whom? Why might they be interested in YOUR company? How would switching to your offer be dramatically better for them? Have you tested your copy with your target audience (including existing clients)?
  • Posted by mgoodman on Accepted
    This sounds a lot like the situation facing many of my consulting clients over the years. It always goes back to the point Jay makes -- assessing the value you bring to your clients. Why should a client buy from you instead of your competitor? What unique and important benefit can they expect if they do business with you?

    We can probably help you, but we will need some detailed information about your business which you may not wish to share on this [public] forum. Check the profiles of top experts here and contact promising consultants via private email. Your problem is almost certainly solvable.
  • Posted by Mike Steffes on Accepted
    It looks like you've tried several sales tactics, but have you sat down and considered your positioning strategy in the market? As a starter- If you position yourself in your sales copy as just as good as the competition...then why would anyone switch to you?
  • Posted on Accepted
    Given your Company's history over the past few years, the period you referred to, and the unfortunate outcomes your Company has endured, perhaps it's time you went back to basics and completed a Lean Canvas review of your organisation's focus and modus operandi. The Lean Canvas is is relatively quick way of conducting a review in a way that can involve all sectors within your organisation's business structure. A Google search will give you the Lean Canvas template and there are YouTube videos on its use in various settings.

    A Lean Canvas review might bring to the fore some new ideas or concepts that could lead your Company into new more profitable directions..
  • Posted by telemoxie on Accepted
    Since I don't know what industry you're in, or what your product or service does, or your target market, or the selling price of your product, Competitive situation, For the makeup of your sales force,or the length of your sales cycle, I will have to guess.

    My guess is that you have an issue in the relationship between your sales department and your marketing department. Salespeople don't want "good leads." In fact, from the point of a salesperson, there is no such thing as a "good lead." Salespeople want "better leads." They are looking for opportunities which are more certain and potentially more profitable than what they are currently working on.

    If they are used to making sales to existing customers, they may not be very excited about doing all the work required to turn an expression of interest into a customer.
    I realize that you don't want to put confidential informattion about your company on an open forum. I'd be happy to talk with you confidentially by telephone if you like. Click on my name, and you can find my email address. No charge. Good luck.
  • Posted by BizConsult on Accepted
    Dave:

    I'm working through that exact situation for a client right now. You likely need a combination of good branding and demand generation activities. Spending media money on under-optimized brands and messaging is not a good investment. Developing good branding and messaging involves the points others have mentioned above, plus much more.

    Good demand-gen efforts use a combination of coordinated inbound, outbound and account-based marketing; better identification of your buyer journeys (with proper targeting of the right messages at the right time), plus some marketing automation tools for your website.

    You'll get far better ROI if these elements are done together. Glad to help out if needed; you can reach me at mktconsult@juno.com

    Best of luck,
    Steve
  • Posted by d7bmmb1 on Author
    I appreciate and thank everyone for your replies. All of them have been quite helpful, and this has been quite a learning experience for me. I'm an old school sales and marketing guy who is being challenged with these new technologies.
  • Posted by Shelley Ryan on Moderator
    Hi Everyone,

    I am closing this question since there hasn't been much recent activity.

    Thanks for participating!

    Shelley
    MarketingProfs

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