When Charlie Jabaley, co-founder of the artist management and marketing firm Street Execs, released one of his first client t-shirt designs, the euphoric high he felt in the morning plummeted to a heartbreaking low by night.
He had only sold a total of eight t-shirts.
With famous clients like 2 Chains and Travis Porter, Jabaley’s pressure to succeed was already stifling. But this failed merchandising campaign had just jacked it up to suffocating. Instead of freaking out and sulking about his woes, though, Jabaley took a step back and breathed in some well-needed fresh air.
He decided to frame this embarrassing flop as an opportunity to learn. And after some deep reflection and analysis, he dug up a silver lining that would eventually lead to a multi-million dollar model for merchandise design.
The silver lining Jabaley plucked from the shambles of his failed campaign was realizing he needed to focus on his customers more. More specifically, he needed to understand their true preferences.
So rather than following the standard formula of merchandising — which was designing products based off a whim, buying hoards of inventory, and then marketing them — he broke conventional thinking by reverse-engineering the process.
Before he bought inventory, Jabaley would post merchandise designs on Instagram and use follower behavior and feedback to help him scrap unpopular designs and turn popular designs into merchandise.
By following his new method, Jabaley knew exactly what his customers wanted and what they were willing to buy, allowing him to solely focus on creating products that had proven demand, avoid wasting precious cash on unwanted inventory, and unload a huge amount of risk off the merchandising process.
Eventually, Jabaley’s method for determining which merchandise designs would sell, and which would not, helped him produce his first merchandising hit — a Dabbing Santa sweater that generated $2.1 million in only 30 days.
Charlie Jabaley isn’t the first person to inform his product design using the public’s opinion, though. It’s actually a method that iconic brands like Budweiser, Pepsi, and Oreo have leveraged for years — a method called crowdsourcing.
Table of Contents
- What is crowdsourcing?
- Crowdsourced Marketing
- Crowdsourcing Examples
- How to Crowdsource
- Crowdsourcing Sites
- Crowdsourcing Jobs
What is crowdsourcing?
When businesses crowdsource, they ask the public for ideas, information, and opinions to help them craft better products and services. By crowdsourcing, companies can tap into a huge group of people’s expertise and skill sets, ensuring diversity of thought, expedited production, and cost-cutting, since they don’t need to hire new, in-house employees.
Companies who crowdsource usually break massive projects into individual tasks, which allows them to assign hundreds or thousands of people small jobs that they can work on by themselves.
To help you fully grasp the concept of crowdsourcing, here are some concrete examples of the practice in action.
Waze is a community-based GPS traffic and navigation app. Their users, which has grown to over 90 million around the globe, report real-time traffic and road information, like police cars, accidents, road hazards, traffic jams, and the cheapest gas stations near your route. All of this crowdsourced information allows users to help each other reach their destinations promptly and safely.
What started out as Mikael Cho’s fun side project on Tumblr, taking half a day and $19 to create, eventually turned into his flailing startup’s top referral source and became its own standalone company — Unsplash.
Unsplash experienced hockey-stick growth because its service offered the ultimate remedy for a huge pain point in the content marketing space — free, unlicensed stock photos. And by using their initial boom in buzz and traffic to convince photographers to contribute free photos to their library as a way to market their art, Unsplash has successfully fostered a community of over 110,000 photographers, built a library of over 850,000 photos, and generates more than nine billion photo impressions per month.
Contently, a content creation platform that also connects brands with freelance talent, built a freelance rates calculator to provide more transparency across the industry and help freelancers better negotiate their rates.
By combining their public freelance rates database, where freelancers anonymously submit the rate they received from various companies, with their platform’s own internal data, Contently has crowdsourced precious information from freelancers in order to help the entire freelance community earn a fair rate in the future.
4. Doritos’ Crash the Super Bowl
“Time Machine” is arguably one of Doritos most memorable commercials, but you might be surprised that it had a budget of $300 and only took six hours to make. Well, that’s because it was created by an aspiring filmmaker who entered the spot into Doritos’ annual Crash the Super Bowl contest in 2014, and won the whole thing.
Frito-Lay, Dorito’s conglomerate, ran Crash the Super Bowl every year from 2007 through 2016, awarding the winner with a huge cash prize and airing their commercial during the Super Bowl. And by offering such a can’t-miss opportunity, which allowed them to tap into tens of thousands of people’s creativity, Doritos could associate some of the most unforgettable Super Bowl ads with their brand.
Airbnb is a popular travel website that acts as a broker for vacation rentals. In fact, 2 million people stay in an Airbnb every night. Its entire business model is based on crowdsourcing.
Anyone who wants to rent out a room or their entire apartment or house, can put up a listing on Airbnb. Then, people who are looking for a place to stay can go online and choose a rental from the listings.
All of the listings on Airbnb are crowdsourced from its audience. Without individuals who rent out their homes, there’d be no site.
To do this day, one of the best examples of crowdsourcing is the “Do Us a Flavor” campaign by PepsiCo for its Lay’s brand. In fact, starting in 2012, PepsiCo has held a “Do Us a Flavor” contest in numerous countries every few years.
With this contest, consumers can suggest ideas for new chip flavors. The brand has received millions of ideas for the contest throughout the years.
To promote the contest, Lay’s will use social media to gather submissions and garner votes from the public. This contest has resulted in flavors such as “Cheesy Garlic Bread,” “Kettle Cooked Wasabi Ginger,” and “Southern Biscuits and Gravy.”
1. Design the job.
Once you’ve decided that you want to use crowdsourced material in your marketing campaign, you need to decide what the job will be.
Will you have consumers design an ad? Or perhaps they’ll help you create a new product, like Lays? Either way, your marketing team needs to design the job.
This means that you’ll have to decide what you want your audience to do, and create an avenue for them to submit their entries. Once you know what you want them to create, you’ll have to come up with the rules, terms, and reward for winning the contest (if it’s a contest).
If you aren’t sure what you want your audience to do, there are a lot of jobs that you could use crowdsourcing for, including:
- App development
- Ad design
- Product creation
2. Create the promotional materials.
Now that you’ve created the job and the terms of service so to speak, it’s time to get the word out there about your job. But before you start posting on social media, you’ll want to create the creative assets to promote the campaign.
For example, Lays used Facebook to promote the “Do Us a Flavor” campaign. The company changed its profile and cover photo to advertise the campaign. Additionally, there were several posts on social media and its website that went over the rules.
Before you can promote your campaign, you’ll have to create these materials. Write your social media ads, create your images, write the press release for your website, etc.
3. Choose a promotional strategy.
So, you have the job all figured out, you’ve created your assets, and now you have to decide how you want to promote the campaign.
This means choosing the best channel(s) to communicate with your audience. Will you be posting your assets on your website? If so, will it be on the home page?
Then, you’ll want to decide which social media channels you want to promote the campaign on. You should use your social media metrics and buyer persona to figure out where your audience is. If you mostly have a Gen Z audience, for example, perhaps you’ll want to promote on Tik Tok. On the other hand, if you have a millennial audience, Instagram might be the best place.
Overall, it’s important to make sure you’re communicating with your audience where they’re at.
4. Manage the results.
Now that you’ve started your campaign, the results should start pouring in.
To manage the submissions, make sure you have a system in place. For example, will you have one or a team of employees responsible for saving and organizing submissions?
Or perhaps you’re having your audience email submissions to a dedicated email.
Either way, having a system in place will help you keep everything organized so it’s easy to pick a winner when the time comes.
5. Produce the final project.
The time has come. You’ve received all the results and now it’s time to pick a winner. Typically with crowdsourced campaigns, the winner is determined by a public vote.
If you’re going with a vote, make sure you set up polls and surveys so your audience can vote.
Once the winner is chosen, it’s time to promote the final campaign. For example, if you were choosing a new logo, you can start using the logo right away on social media, your website, and promotional materials.
If you’re a freelancer looking for work or a brand looking for talent, or you’re looking for crowdfunding, check out the following crowdsourcing sites.
Fiverr is a freelance service marketplace that empowers freelancers. Instead of being a platform where freelancers search for jobs posted by brands, Fiverr is a place where brands search for freelancers with the expertise and skills for which they’re looking. Most freelancers on Fiverr offer skills and expertise in graphic design, digital marketing, writing & translation, video & animation, music & audio, programming & tech, business, and lifestyle.
Similar to Fiverr, Upwork is a freelance service marketplace where freelancers create profiles, and then brands can hire them for short-term tasks, recurring projects, or full-time contract work. Most freelancers have skills and expertise in web development, mobile development, design, writing, administrative work, customer service, sales, marketing, accounting, and consulting.
Trusted by brands like Target, Coca-Cola, and Major League Baseball, CrowdSource has trained, tested, and qualified a community of over 200,000 freelancers who can provide copywriting, content moderation, data entry, and transcription expertise and skills. Brands can also search for freelancers by the agency, marketing, publishing, retail, and service provider industries.
Contently is a content creation software that connects enterprise brands with freelance talent, so they’re constantly on the lookout for freelancers who can fulfill their clients’ needs, as well as their own.
If you’re a freelance creative looking for gigs with some big brands, you can register as a freelancer on Contently’s platform and create a free portfolio. You’ll need to get approved and complete their training before you can work with any of their clients, but once you do that, you’ll be apart of their freelance network.
If you’re a brand looking for freelancers to help you craft original stories, check out Contently’s platform here.
Similar to Contently, Skyword is a content creation software that also connects enterprise brands with freelance talent. If you’re a videographer, writer, photographer, or designer, you can create a portfolio that Skyword’s clients will have direct access to.
If you’re a brand looking for freelance talent, check out Skyword’s platform here.
One of the major forms of crowdsourcing is crowdfunding. Crowdfunding is when consumers fund a project or venture by donating money to the cause.
Kickstarter is one of the most popular crowdfunding sites where any creator can connect with possible crowdfunders. This means that they can post their project and anyone can donate.
Typically with crowdfunding, the people who donate money become stakeholders and might be able to work with the creator as crowdsourced talent, and get a benefit of the proceeds.
Another way for content creators to get crowdfunding is through the site Patreon.
Patreon is essentially a membership platform that allows content creators to have subscribers. Subscribers pay a monthly fee for the content — providing the creators the money they need to produce their project.
Typically, the patrons of a project get a lot of perks and exclusive rewards for being a subscriber.
If you’re interested in working a crowdsourced job, check out the following gigs you could find in each of the job categories below.
- Web development
- Mobile development
- Copy editing
- Content evaluation
- Content moderation
- Virtual assistant
- Customer service
- Usability testing
- Audio transcription
- Social media post categorization
- Image and video processing
- Image categorization
- Data entry
- Data research
- Data categorization
- Data processing
- Data verification and clean up
- Information gathering
- Price checking
- Product display checking
- Business location verification
- Web research
- Google searching
- Odd Jobs
- Making deliveries
- Dog walking
- Survey taking
Crowdsourcing is an innovative way for marketers to get their audience engaged with their campaigns. It’s also one of the only ways consumers get to interact with a brand and help make important product decisions.
Editor’s note: This post was originally published in February 2019 and has been updated for comprehensiveness.
How to Create a Successful Influencer Marketing Campaign
When you’re planning how to create a successful influencer marketing campaign, there are many factors that come into play. From what influencer marketing is in 2020 to what to include in an influencer marketing contract to whether you need an influencer marketing platform, it can be overwhelming to plan a strategy that is right for your brand.
The buzz around influencer marketing is echoing loud and clear – it’s THE it trend of the year. From bloggers sharing their “must-haves” on Instagram to subject matter experts endorsing their favorite reads on LinkedIn, you’ve most likely experienced influencer marketing as a consumer.
In fact, according to HubSpot, 71% of consumers are more likely to make a purchase based on a social media reference. Influencer marketing can give brands a more engaging and authentic voice with consumers, so what do marketers need to know when it comes to the continuing rise of influencer marketing?
3 Ways to Improve Your Influencer Marketing Campaigns
Whether your brand is dipping its toe into the influencer marketing pool or you’re looking to ride the wave into even higher sales this year, there are a few key elements to consider: savvy marketers need to have authentic relationships with their influencers, create efficiencies with campaign management, and realize the growing acceptance of micro-influencers.
Let’s dive in further. Here are 3 tips to running successful influencer marketing campaigns.
Tip #1: Focus on Relationships
Now is the time that quality over quantity really matters. The shift towards this more personal marketing approach delivered by influencer marketing has been driven by the increased demand of consumers who want to know that the brands they support not only offer quality products or services, but also, come recommended.
As influencer marketing becomes ubiquitous, one primary realization has crystallized: it’s not enough to identify and pay influencers for single-post campaigns on just one platform. Not all influencers are created equal, and the best way to ensure a successful campaign is to develop relationships with both paid and organic partners who can employ a multi-platform approach, all while using influencer strategies to augment your brand’s internal multi-channel campaigns.
Tip #2: Leverage Data-driven Influencer Marketing Platforms
Over the past several years, influencer marketing has expanded exponentially. In fact, it is now a $5-10 billion dollar industry. So it makes sense that this channel is driving more interest and investment than ever before.
Just like any other marketing initiative, reporting and optimizing is key in understanding the success of your program. Especially now as influencer marketing is gaining traction and understanding in the C-suite, engagement metrics just won’t cut it.
Brands need to partner with a data-driven influencer marketing platform that can provide influencers with the tools they need, track activity and conversions, manage payouts, as well as analyze trends and measure ROI. The ones that are able to automate emails, customize share links, and white-label their programs are the brands that will see the most success this year.
Tip #3: Partner With Micro-Influencers and Customers
The exact definition of micro-influencer is still being decided as brands select personas with as little as 1,000 followers all the way up to 200,000 followers to champion their brand’s products or services. But one thing is clear: brands are slowing down in the race for social status and one-time traffic boosts that come from celebrity endorsements and focusing more diligently on relationships that provide conversions.
Higher demand for micro-influencers will also mean an increase in the value of their services. Brands will need to be more thoughtful and genuine in creating partnerships with influencers. Most importantly, brands must show micro-influencers how they can benefit from a relationship and/or improve their career.
How to Create a Successful Influencer Marketing Campaign With Technology
The rising need for influencer marketing software that can keep up with digitally savvy marketers can no longer be ignored. With 92% of 18-to-34 year-olds saying they seek recommendations from friends and family when considering a product purchase, it’s no shock that leading-edge marketing teams across industries are leveraging an influencer marketing platform to automate and optimize this referral-generating channel.
Spending increases are great, but let’s talk about results. What can marketers do to make sure they are on the path to profit when it comes to influencer marketing strategies?
Here are 11 secrets proven to deliver influencer marketing success:
1. Utilize the Portal Registration Page
The portal registration page allows you to collect additional information from your influencers such as their blog URL or social media handles. Once they enroll via the registration form, influencers will automatically be logged into the portal for easy sharing.
2. Auto-Enroll Influencers
For relationships you’ve established with existing influencers, auto-enroll them into your program to make participation turnkey.
3. Kickoff the Program
Don’t just hope that influencers will find your program. Announce your program launch through dedicated emails to start seeing results quickly.
4. Build a Program Overview Landing Page
Provide influencers with a comprehensive overview of the program by having a dedicated page to point them to.
5. Enable Share Codes
Allow influencers to create multiple links that they can customize and redirect to point to specific products or services. Share codes, accessed through the portal, provide influencers with an easy, memorable way to share while gaining additional insight into which sources and mediums convert best.
6. Provide Promotional Assets
Within the portal, you can provide influencers with assets that they can embed on their blog or website. Once embedded, these assets are clickable and trackable.
7. Create an Educational Guide or Video
Send a toolkit with all of the details to new influencers in the welcome email and include a link on your program overview landing page. Include information on what and where to share, how to utilize the portal, recommendations for seeing success and more.
8. Send Dedicated Emails
Encourage engagement by providing useful program information in dedicated emails. These emails can offer suggestions for seeing success or even recommended content to share.
9. Build a Community
Create a place where you provide influencers with exclusive content and recommendations. A private Facebook group is a great way for influencers to communicate with each other and your brand.
10. Utilize a Revenue Share
Most influencer programs offer a commission that is a percentage of the total purchase. Monetary commissions, such as PayPal, are most successful.
11. Offer a Dual Incentive
Rewarding both the influencer and the referee can provide a substantial lift. Coupon codes, which can be presented within a customizable welcome message upon landing on your site, are a great option for incentivizing the referee to convert.
How to Launch and Manage an Influencer Marketing Campaign
From beauty and fashion to software and services, successful companies are using influencer marketing software, like Ambassador, to optimize their word-of-mouth marketing programs.
The best practices shared above can help your brand focus on increasing the quality and quantity of your influencers, while ensuring you are offering the right incentive, at the right time.
Top 15 Facebook Advertising & Marketing Podcasts in 2020
- Facebook Advertising & Marketing Podcasts
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Facebook Advertising & Marketing Podcasts
Seattle, Washington, United States About Podcast In Next Level Facebook Ads Podcast, Phil Graham and Sam Carlson help you master Facebook ads and give you an edge over your competition. If you want to be part of a movement that is taking digital marketers to new heights, this is for you. Frequency 1 episode / week Since May 2017 Podcast fbadspodcast.com
Facebook fans 26.5K ⋅ Twitter followers 660 ⋅ Domain Authority 5ⓘ ⋅
Saint Petersburg, Florida, United States About Podcast ‘I know Facebook Ads have been effective for others, but they are too hard and too confusing. I’m running ads now, but I think they could convert for a better cost.’ says host Jenn. The Ads Maven, Jenn Possick is here to help by sharing the secrets behind making Facebook and Instagram ads work for you – to get thousands of new subscribers onto your email list and to sell your products and services to your existing audience online. Frequency 1 episode / day Since Sep 2019 Podcast inspiredchoicesnetwork.com/p..
Facebook fans 6.2K ⋅ Twitter followers 7.7K ⋅ Instagram Followers 1.2K ⋅ Domain Authority 35ⓘ ⋅ Alexa Rank 3.2Mⓘ
Portland, Oregon, United States About Podcast Learn Paid Media is a podcast that focuses on teaching you all aspects of online paid media. Nick Banik is a digital marketer with experience managing Google Ads, Bing Ads, Facebook, and Instagram Ads, Pinterest Ads, YouTube advertising, programmatic display advertising, and much more. The podcast focuses on how to learn paid media and how to manage online advertising campaigns for both large and small budgets. Frequency 2 episodes / month Since May 2019 Podcast learnpaidmedia.com/podcast
Twitter followers 43 ⋅ Domain Authority 5ⓘ ⋅
Knoxville, Tennessee, United States About Podcast Facebook ads with a Twang is dedicated to taking the often over complicated process of creating successful Facebook ads and breaking them down step by step in less than 10 minutes at a time. Frequency 5 episodes / quarter Since Jul 2017 Podcast onefocusmarketing.com/blog-page
Facebook fans 11.7K ⋅ Twitter followers 613 ⋅ Domain Authority 23ⓘ ⋅
Utah, United States About Podcast Host Taylor Timothy is an online marketer, paid ad expert, and a lead generator. The Marketing Lyfe podcast is to help small businesses , and entrepreneurs get more leads and sales for their business so that they can grow. The key to success is using paid ad platforms such as Facebook, Instagram, youtube, and google. Running Paid traffic is essential for your success. You must be running Facebook ads, Instagram ads, Google paid ads, Youtube ads if you are wanting to take your business to the next level! Frequency 2 episodes / week Since Sep 2018 Podcast buzzsprout.com/696946
Facebook fans 105 ⋅ Domain Authority 68ⓘ ⋅ Alexa Rank 10.9Kⓘ
6. Pin To Top
Philippines About Podcast Pin To Top is a podcast for Entrepreneurs and Experts who would like to get help doing Facebook Marketing and gain excellent business ideas. Let ‘Pin To Top’ provide you with Facebook Marketing basics, strategies, and tactics – plus excellent business ideas every now and then – to help you maximize your Facebook presence less the overwhelm. Frequency 1 episode / week Since Feb 2019 Podcast anchor.fm/pin-to-top
Facebook fans 871 ⋅ Domain Authority 74ⓘ ⋅ Alexa Rank 5.5Kⓘ
Woodland Park, New Jersey, United States About Podcast Fast Forward, Inc is a digital marketing agency in New Jersey. eCommerce Uncensored by Fast Forward, Inc is a podcast dedicated to bringing eCommerce entrepreneurs actionable tips and techniques to grow their sales, email list, and traffic. They’ll talk about Email Marketing, Facebook Ads, Social Media Marketing, Shopify, Woocommerce, Sales Funnels, and much more. Frequency 2 episodes / week Since May 2017 Podcast ecommerceuncensored.com/cate..
Facebook fans 219 ⋅ Twitter followers 174 ⋅ Instagram Followers 1.4K ⋅ Domain Authority 19 ⋅ Alexa Rank 1.4M
Parker, Colorado, United States About Podcast The Social Media Marketing Happy Hour Podcast hosted by Dawn Marrs & Traci Reuter is designed for the entrepreneur, solopreneur, small business owner and marketing leader who is ready to learn to leverage organic social media marketing, sales funnels, Facebook advertising, and Instagram ads. Grow your email list, generate more leads and sales and just be more effective with your marketing. Each episode is jam-packed with success tips & nuggets to help you succeed in your entrepreneurial journey. Frequency 2 episodes / quarter Since Jul 2014 Podcast happyhourhangouts.com/catego..
Facebook fans 7.3K ⋅ Instagram Followers 1.9K ⋅ Domain Authority 33 ⋅ Alexa Rank 1.5M
Clearwater, Florida, United States About Podcast ‘After delivering seminars all over the world, I realized how unique the knowledge I have really is. So I decided to share my ability, to help people become successful in what I view to be the greatest marketing era in humanity’s history.’ is what host Manuel says. Tune in to this podcast to get Facebook marketing insights, tips, and ideas from Manuel Suarez. Frequency 3 episodes / month Since Mar 2018 Podcast anchor.fm/facebookninja
Facebook fans 3.9K ⋅ Twitter followers 237 ⋅ Instagram Followers 11K ⋅ Social Engagement 1 ⋅ Domain Authority 74 ⋅ Alexa Rank 5.6K
10. The Content Fix
Richmond, Victoria, Australia About Podcast Do you want to know how to use content, social media and digital marketing to make people aware of your business, build engagement and convert that audience into customers? The Content Fix podcast provides you with mini masterclasses and interviews to transform your content and social media from a time drain to a winning business strategy. Tune in to learn the techniques for expanding your business. Frequency 1 episode / week Since Jun 2019 Podcast jillianbowen.com/podcast
Twitter followers 6.7K ⋅ Social Engagement 33 ⋅ Domain Authority 6 ⋅ Alexa Rank 2.8M
11. Casual Fridays
San Diego, California, United States About Podcast This is a podcast for marketers and entrepreneurs looking to get on the social media fast track. Tyler also shares tools and processes he personally uses to help him with social media management, marketing, productivity and more. Frequency 1 episode / week Since Aug 2013 Podcast casualfridays.com/category/p..
Facebook fans 4.7K ⋅ Twitter followers 4K ⋅ Instagram Followers 1.1K ⋅ Domain Authority 40 ⋅ Alexa Rank 1.2M
12. Exposure Ninja
Nottingham, England, United Kingdom About Podcast Looking for ways to increase your website’s visibility and significantly grow the sales it generates? Join bestselling digital marketing author and Head Ninja at Exposure Ninja Tim Cameron-Kitchen as he, the Ninjas and special guests share ‘real-life’ actionable tips straight from the digital marketing front line. Frequency 5 episodes / quarter Since Oct 2016 Podcast exposureninja.com/podcast
Facebook fans 4.6K ⋅ Twitter followers 2.1K ⋅ Instagram Followers 839 ⋅ Domain Authority 42 ⋅ Alexa Rank 140.2K
13. You Unplugged
Berkeley, California, United States About Podcast Tips, interviews, and shortcuts for marketers who realize they MUST stand out to be noticed. Kim Klaver helps marketers who want to get regular customers engaging others like a normal person, and automatically on Facebook and email. Frequency 15 episodes / year Since Jun 2015 Podcast youunplugged.com
Twitter followers 2.3K ⋅ Social Engagement 1 ⋅ Domain Authority 13 ⋅
The post Top 15 Facebook Advertising & Marketing Podcasts in 2020 appeared first on Feedspot Blog.
Your Demand-Gen Strategies Have A “Last Mile” Problem (Here’s How to Fix It)
/As a demand gen leader, you and your team are working hard to capture the attention of your target audience and nurture them through the buyer’s journey. You’re constantly strategizing, launching new campaigns and optimizing your performance. And each month, you hand off a healthy number of leads to your sales team.
But only a small fraction of those leads become customers. And as the pressure mounts to achieve ever-increasing revenue goals, your organization’s sales and marketing teams become embroiled in a vicious blame game.
Sales leaders complain the leads marketing sends aren’t any good, marketing leaders argue the sales team isn’t working hard enough to close the leads they send and no one can agree on how to make things better. Because, while marketing tech improves your ability to turn content into leads, it stops short of helping you transform leads into sales.
It’s a frustrating problem that’s neither squarely in the realm of sales or marketing, but an organizational fumble in the last mile: The critical window between earning a lead and landing the first meeting.
Why does this happen? And what can you do to fix it? At Kronologic, we’ve spent the last year investigating these questions. And here’s what I’ve discovered:
Why Do So Many Organizations Fail In The Last-Mile?
For more than a year, my company has been working with sales and marketing executives at many of the world’s fastest-growing organizations, and we uncovered something unsettling: Companies are losing, on average, between 30% and 80% of their leads before they ever become opportunities. That translates into literal millions of dollars left on the table every quarter (and, in some cases, every month).
We also discovered three main reasons organizations lose those leads:
- Competition is rising: The marketplace is more crowded than ever. Time is a precious commodity and even if you manage to capture a prospect’s attention and keep it through the initial phases of the buyer’s journey, there are zillions of other vendors/projects/problems vying for their attention.
- Customers are growing more informed: Thanks to big data and the proliferation of content, your prospects have access to most of the same information you do. Much of the buyer’s journey happens before someone reaches a salesperson.
- Everyone is busy: You’re busy. Your sales team is busy. Your audience is busy. All our calendars are brimming with meetings, phone calls and appointments, and the further you have to push out a conversation, the less likely it is to happen. It’s essential you nail down a time when your solution is still top-of-mind for your prospect because your sales team’s window of opportunity for landing a meeting shrinks exponentially every hour.
What Can You Do To Fix It?
We’ve identified the problem and why’s it’s happening, but what can we do about it?
Here’s where I give you some good news: You have the power to significantly reduce your last-mile problem. In fact, as an industry-leading marketer, there’s a good chance you’ve already identified lead deficit as a top KPI and begun building strategies to reduce it.
Early attempts to address this issue have emerged in the form of Calendly and other link-based schedulers that your sales team may be relying upon today. (And before link-based schedulers, you could summarize the industry strategy as “death by a thousand emails.”)
But those solutions are still too passive, requiring too much time and activity from a busy salesperson and their equally busy prospects. Plus, there’s no way to prioritize higher-value meetings.
Instead, you need technology that monitors leads’ actions and behaviors and automatically connects both parties at the moment you’re most likely to earn a meeting. (At Kronologic, we call this an Active Scheduling Platform.) By leveraging behavioral data and automating the appointment-setting process, you can capture a larger chunk of your leads and take back the millions (or tens of millions) you’re likely leaving on the table.
Plus, when salespeople aren’t spending vast portions of their workweeks playing email tag with leads, they can focus on other revenue-generating efforts. Like identifying which prospects’ pain points match to your company’s value propositions, for example, and having meaningful conversations that lead to highly profitable, long-term relationships.
The last-mile problem can feel insurmountable in our world of hyper-busy days, jam-packed schedules and shrinking attention spans. But, by relying on the right tech, you can seize opportunities to schedule those critical conversations and heal the discord between sales and marketing for good.
Aaron Bollinger is the Co-founder and CRO of Kronologic. Aaron is a winemaker, sales leader and former TV producer who’s not satisfied unless he’s taking on a new challenge. He’s spent most of the past two decades selling technology solutions to the world’s largest brands at all stages — from pre-seed to IPO and everything in between.
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