Internet Radio- 21st Century Entrepreneur | Is Cold Calling Dead? | Aired Friday, June 26, 2015 at 12 NOON
This Friday, June 26, we will be airing another episode of “21st Century Entrepreneur” which is an Internet Radio Program aimed towards educating business owners and their advisors on how to make their businesses more successful and profitable. It is a show hosted by JC Maldonado who is the CEO of BizGro Partners, a Business Development Firm that helps small and midsize companies grow, expand, and transition. This week we will discuss whether cold calling still works in today’s selling environment and what marketing alternatives exist in the world of B2B selling.
Below is a blog that describes the importance of a form of proactive marketing that is important to businesses that sell to other commercial entities. Finally, we have gained some interesting insight during our recent interviews from experienced entrepreneurs. To hear recorded versions of these shows, click on 21st Century Entrepreneur Archives. Feel free to touch base with us if you have any questions at firstname.lastname@example.org.
Why an Outbound Marketing Approach is Crucial for Growing a B2B Company?
With the advent of internet marketing and social media venues, and the recent rapid decline of traditional marketing venues such as the local newspaper, direct mail and the yellow pages, the landscape of marketing opportunities leaves the average entrepreneur rather confused as to what direction to head in. At BizGro Partners, we strongly believe that outbound marketing (calling a prospect in your target market, setting up a face to face meeting, building a relationship, and following up over time) is one of the best ways for B2B companies to systematically generate new customers or clients on an ongoing basis. This process of proactively seeking out relationships with potential customers in your target market provides consistent, measurable results in business growth that can stand the test of time.
WE ARE NOT COMPARING OUTBOUND MARKETING TO REFERRALS
A B2B business is simply any business that sells a product or service to other business entities. One of the best ways to generate new business for a B2B company is through referrals. It is important to note that we recognize that customer or client referrals are always the easiest way to create new business. So as we demonstrate to you a system for attacking the market, do not compare our methodology to customer or outside referrals. Our argument is simply that before you can get lots of customer and outside referrals, you need credibility and lots of happy customers first. And even after you have credibility, it is hard to predict and measure when referrals will come in, and it is hard to base any significant growth strategies around referrals. From our view, referrals should be the gravy on a delicious foundation of meat.
SO WHAT IS THE BIZGRO DEFINITION OF OUTBOUND MARKETING?
So what is Outbound Marketing? Outbound Marketing means you have decided to call prospects in your target market directly and offer them the opportunity to meet with you and build a relationship with you. Through this relationship, the potential customer will get to know your company and your products and services. At some point, the goal will be to sell your products and services to the prospect and make him a happy customer so that he can give you lots of repeat business and referrals. The process will include an initial call, a face to face meeting or a well ran conference call, scheduled follow up calls, subsequent meetings, and an eventual sale. This process can be consummated by the use of telemarketers, salespeople, sales consultants, or the owners themselves. Since most B2B companies have lots of prospects to target and there is a large market of salespeople and telemarketers that can help implement this process, there is no limits to how many new customers/clients you can procure once you effectively execute this strategy.
SO WHY IS OUTBOUND MARKETING STILL EFFECTIVE FOR B2B COMPANIES?
Like anything, business is still all about relationships and the process of outbound marketing is nothing more than a relationship building process aimed towards building goodwill in your target market. If a decision maker feels like he or she has a relationship with you, he is more apt to buy, especially if the value of what is being sold is competitive in the market place.
BE CAREFUL WITH SPENDING MONEY ON MEDIA OUTLETS AND INTERNET MARKETING VENUES
For B2B companies advertisements in media publications, the yellow pages or even online advertising normally is a waste of money because of how companies typically arrive to the decision of choosing a vendor; decision makers with commercial entities usually rely on relationships and recommendations to choose a supplier, rather than responding to ads in media publications or the Internet. Nevertheless, the internet can be a wonderful tool for selling to another company. A well- orchestrated website, a strong SEO presence, along with social media contact management strategies can help convert leads into clients and can help better communicate with potential clients overtime. However, what we are talking about is the strategy necessary to generate short term leads. It is important to differentiate your marketing and selling strategies. Marketing generates the lead while selling converts leads into sales.
For more information on how you can generate leads in your target market and convert these same leads into paying customers, contact us at email@example.com.