Companies are obsessed with all kinds of unsolicited ads: unsolicited calls, unsolicited emails, unsolicited social ads and more. But what do we really want as marketers?
We want hot music. That’s why we organize webinars, produce our own content and develop in-depth marketing activities. For some reason, hot leads are always more than cold ones – familiarize yourself with your business.
So, how do you find the hot tracks you already know? One of the easiest ways is to track the movement of contacts within and outside your customer base.
Focusing on these buyers, we saw the following external marketing metrics:
- 35-60% opening rates
- 10 to 30% click-through rates
- 3 times + meeting costs compared to cold contact
Suppose your company sells compliance software and Starbucks is one of your biggest customers. Looking back over the past three years, how many people would you find who joined Starbucks and then left the company for someone else? And how many of these people are still up to date with their new business and can buy from you again?
If you have no idea, it is because you are not watching the movement of buyers inside and outside your customer organizations. You probably have hundreds, if not thousands of people, if your company has been in business for more than three years.
More people are changing jobs than ever
Currently, there is a higher percentage of buyer movements from one job to another than in the past. That’s why you need to devise a systematic plan to find and locate buyers who know and value your brand.
In July 2020, our Buyermovement.com follow-up hired more than 5,000 C-level executives at companies with more than 1,000 employees. (We use a combination of personalized emails, phone calls and LinkedIn’s outreach program.)
Why are these electrodes particularly hot?
If you have a sales team dealing with cold disclosure, tracking the buyer’s movements should always be a priority.
Because? Because your sales team will be much more successful in targeting important leads with the right position and in the right company than in targeting cold leads with the right position in the right company.
Here’s what we discovered in OutboundView when we track and release buyers:
- Buyers who moved in last year are likely to meet with their sales team.
- During external sales campaigns, there is a chance that these buyers will establish a dialogue with each other.
- These customers open e-mails twice as fast as cold and click on e-mails at twice the speed of e-mails.
- These buyers are two to three times more likely to move on to the next stage of their sales process as an unsolicited lead.
- These clues don’t even have to be familiar with your work to show interest. The fact that you mentioned the previous employer is enough to start the conversation.
How do you find these clues?
Fortunately, there are systematic ways to track buyers who have abandoned their existing customers. Unfortunately, most of these methods are manual and require a lot of research.
In addition to LinkedIn, there are a few other resources you can consider to get leads:
- Your CRM: you want to find all the leads / directions related to your existing customers.
- Marketing automation: are you falling on your marketing automation lists? This is probably because they no longer have the email address they originally provided.
- User lists: In some companies, end users can be buyers. If someone deactivates, it is a good sign that the person has left the company.
Each organization is different, but you will always be looking for the most interesting leads. Contacts that worked for your customers and are now at other companies where they can buy from you again will always overcome the cold leads.