Archive for sales velocity
Does an increase in Awareness increase Revenue?
Posted by: | CommentsI was asked recently if I knew of any empirical data that shows the relationship between an increase in awareness and an increase in B2B sales. I don’t and so I started by searching online. I found anecdotal evidence at best.
Then I started to question my conventional wisdom that awareness comes first. That is, if potential buyers don’t know we have a solution to their problem, how would we ever get considered? Awareness drives interest, right?
I came to the realization that this kind of thinking is flawed, especially selling technology products. This is not the 70s with salesmen in white shirts, blue suits and red ties dialing for dollars. We are in an era where the majority of buyers find us by using their favorite search engine. It’s no longer a shouting match of advertising and direct marketing. This type of buyer behavior isn’t new. What’s new is that it has become mainstream.
So if buyers seek us out, how could a contemporary awareness campaign work? Are there situations where this makes sense or is it a waste of money?
Why do we “generate awareness”?
The question to be asked is where does the need to generate awareness come from:
- Sales makes a call to a prospective buyer and the buyer states they are unaware of the company and/or product;
- Our product portfolio has expanded and the customer base is unaware we can solve other problems for them; or
- We are introducing an innovative new approach to solving a problem
We can measure awareness through blind awareness studies. We can obviously measure revenue. The challenge is connecting the two measurements to draw a causal conclusion. If an increase in awareness drives interest, then it would be logical to conclude that interest would correlate to revenue. The stone tablet of marketing says it’s so, yet I am humbled by the fact I can’t point to any reliable body of work that supports it.
The order of operations has changed
Let’s assume for a moment you want to buy a waterproof digital camera because you are taking your family to Hawaii for a vacation and it would be cool to have underwater photos (interest). You could go to a camera store in your town, but most likely you’ll search online using the keyword phrase “underwater cameras”. You’ll review the search results, perhaps refining them a little to get a list of manufacturers that provide underwater cameras (awareness). Then you’ll follow the links to the manufacturers web sites to get an idea of what each camera can do and at what price. Before you purchase, you’ll look for reviews of the cameras to see what others are saying about it (evaluate). Finally you’ll try to get the best price based on how you like to buy, and then make a purchase (buy). If you really like the product (or not), you’ll write a review (reference).
What are the implications to marketers?
The implications are significant to marketers. It means we need to shift hard toward developing great content that buyers can find with a message that is clear and compelling. Every day we have buyers that go in and out of our sales process and we don’t know it’s happening. I call them lurkers. Unlike window shoppers – which implies they aren’t going to buy – lurkers have an intent to buy but they haven’t engaged with us yet. They are researching our product along with our competitors and finding references through what others are commenting about (good and bad).
The other implication is measurement. Marketing teams are asked to demonstrate a return and for some traditional activities, like generating awareness, this is getting increasingly more difficult to justify.
How to prevent your whitepaper from being read
Posted by: | CommentsYou spent a lot of time and effort to create a new whitepaper. Assuming the goal of a whitepaper is to build thought leadership and help drive sales velocity, would you put a big fence in front of it and force people to provide a bunch of information that isn’t needed at this stage? How many people would just skip it and move along?
If the goal of a whitepaper is to build thought leadership shouldn’t you make it easy for people to read it and share it?
Running the whitepaper gauntlet
I know why you put a registration form in front of your whitepaper. You think that visitors will place so much value on what you published they will gladly hand over their contact information. And you will assume those are leads.
Now that’s funny.
I also know what happens next. Those “leads” you hand over to your sales team are ripped to shreds as being worthless.
Ditch the registration form
Do yourself a favor and remove the registration form. Let as many people as possible download and read it. If it’s good they’ll pass it along to other people. Hopefully that will prompt some of them to contact your company to learn about how you can solve their problem. If you’re not giving away state secrets there’s little risk. And if you’re worried your competitors will get it, fear not. They’ll get it using the same means you would if you wanted a copy of a competitor’s whitepaper.
Learn from a bad example
I’m going to call out TradePub.com because they are doing exactly what you shouldn’t be doing. It’s obvious that this document is probably not a whitepaper. It’s marketing collateral printed on white paper. Enjoy…
Sales velocity webinar – October 16
Posted by: | CommentsI’m delivering a webinar on Friday, October 16 at 10am Pacific time titled “Product Launch Readiness: Planning for Sales Velocity”. Click here to register. Hope you can make it – I’m expecting lots of good questions!









