Keep Prospects Ened over Long Sales Cycles with
Effective Drip Marketing Campaigns
By Sundeep Parsa,
VP of Client Services and Co-founder
Market2Lead
If you sell a product over a long sales cycle – if more
than several weeks elapse between the time a person becomes a prospective
customer and the time that person completes a purchase – it is essential
for your marketing program to keep in touch with those prospects. You
can't let them forget about you, or your competitor could win the sale.
Stay in your prospective customers' minds with a carefully-crafted drip
marketing campaign.
Drip marketing involves a series of marketing tactics that
nurture a prospect from the initial contact until the prospect is ready to
be engaged by an inside or outside sales representative. For example, a
campaign might offer white papers, webinar invitations, free trials, etc.,
one at a time, over the course of your sales cycle. The success of such a
campaign depends on several factors. Chief among them are obtaining the
prospect's permission to send email messages and enforcing strict cadence
rules, so you don't communicate too often or too infrequently.
Permission
Permission can be a "Catch-22" situation. You need a
prospect's permission to send email, but how do you get it without sending
email? You can obtain explicit email permission by using pay-per-click ads
to draw prospects to a landing page, on which they exchange their email
address (and permission to use it) for something of value. You can also
send unsolicited email messages to addresses you obtain from a purchased
list of leads. If you are a U.S. company, such messages are legal, as long
as they comply with the CAN-SPAM Act of 2003. Refer to online resources
such as the Federal Trade Commission's site at http://www.ftc.gov/bcp/conline/pubs/buspubs/canspam.shtm for more
about the Act.
Whether you use online ads or a purchased list of email
addresses, the key is to provide sufficient incentive for the prospects to
explicitly grant permission for you to send future email messages. Offer a
newsletter that provides valuable information, for example. Or offer
access to an informative white paper. Although the CAN-SPAM Act permits
the use of implied permission, you gain more credibility with forthright
communication. Obtain explicit permission from your prospects by providing
the right kind of offers to the right people.
Cadence
Once you have permission, the next most important part of
your plan involves cadence – that is, how often you communicate.
Successful marketers have learned that monthly messages are too
infrequent. You'll lose too much mind share if you wait that long before
sending the next "drip" in your drip marketing campaign. Biweekly
messages, on the other hand, are too frequent and can cost you sales by
annoying the prospect. The best practice, therefore, is to reach out to a
prospect every 21 days. Companies commit a common error when they have
more than one person working from the same database. For example, one
staff member might send a white paper offer to a prospect and another
staff member, not knowing that message went out, could send a webinar
invitation two days later. Software tools, such as marketing automation
software, can help prevent such errors. More information about software
appears below.
The most successful marketers do more than enforce a
21-day cadence. They go a step further by scheduling messages based on a
prospective customer's explicit preferences. For example, they allow the
customer to specify what day of the week is best to receive the messages.
Then, instead of sending all their second stage messages at one time, they
spread them out over a week, depending on the prospects' expressed
preferences. This level of execution is another example of a place where
effective software tools are of great assistance.
Stages and Offers
As you plan your first drip marketing campaign, define
stages (drips) based on what you already have (newsletters, white papers,
etc.) For initial campaigns, three to five stages is optimal. You can
always add more tactics after you get your campaign up and running.
When you plan what to offer during each stage of your drip
marketing campaign, consider the amount of time a prospect is willing to
spend at different stages in the sales cycle. For example, when a person
first begins to look for something his business needs, he's really at the
"tire kicking" stage. He'll spend five to 10 minutes on each vendor's Web
site as he begins to determine which vendor's products might solve his
business challenges. This is not the time to invite the prospect to a
30-minute Webinar. Instead, provide a Web landing page from which the
prospect can quickly receive the most essential information about your
product and on which he can provide the most basic information about
himself (including permission to send future messages).
With each visit, the prospect is further along the sales
cycle and willing to invest more time. On a second visit to your Web site,
a prospect might be willing to spend 30 minutes to obtain in-depth
information. This is the time to offer a detailed white paper. For your
third offer, an opportunity to participate in a live webinar or view a
recorded one might be appropriate. If you can provide a free trial of your
product, that would be an excellent fourth stage offer. This might also be
the time you'll want to provide the person's information to your sales
department as a qualified sales lead.
Measurement
A good drip marketing campaign is a living thing.
Successful marketers regularly change their campaigns, adding tactics that
work and removing those that don't, for example. This requires some kind
of measurement. For example, you should measure how many prospects (by
percentage) complete the transition from stage to stage. Determine what
offers are most effective in driving such transitions. Optimize the
messages and offers that are working, replace the ones that aren't, and
add new stages as necessary. Effective software tools can automatically
provide the reports you need to make such decisions.
Marketing Automation
You can plan and execute a drip marketing campaign
using manual tools, such as a spreadsheet application. But if you run more
than a few programs, each having three to five stages, you'll quickly find
that doing it with a spreadsheet can become overwhelming. As a result,
you'll have trouble maintaining your cadence. In addition, you probably
won't be able to respect prospect preferences such as the day of the week
and you probably will find yourself never getting around to measuring the
effectiveness of each stage in each program.
Fortunately, reasonably priced marketing automation
software is available that can completely automate every aspect of your
drip marketing campaigns. Some vendors even offer such software as a
service, thus greatly reducing your upfront and infrastructure maintenance
expenses. Configure the program with all the parameters of each drip
campaign and it will automatically send each email message to the right
prospect at the right time. In addition, the marketing automation software
can easily handle individual prospect preferences. And its reports will
provide you with the golden nuggets of information you need to optimize
your campaigns.
In addition, marketing automation software allows you to
perform complex segmentation of your prospect database by analyzing data
that prospects provide themselves as well as behavioral information, such
as how much time each prospect spent on each of your Web pages. This kind
of segmentation is difficult if not impossible to do manually.
Summary
Drip marketing campaigns are important, if not necessary
tools for companies that sell products over extended sales cycles.
Properly executed, these campaigns enable vendors to build relationships
with their prospective customers. Over the course of multiple drip
marketing campaigns interactions, keep prospects interested and nurture
them until the time is right for sales people to close the deals.
Successful drip marketing campaigns gain the explicit permission of the
prospects to send email messages and send those messages using a 21-day
cadence. Reasonably priced marketing automation software tools are
available that can automate the entire process, thus improving the
productivity of marketing teams and the effectiveness of the campaigns.
For more information, questions, or comments, please
contact
[email protected]
Market2Lead
www.market2lead.com
|