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7921794068_287bf8a7de_z.jpgAn idiot once told me, "Leads are like a box of chocolates; you never know what you're going to get." I couldn't disagree more. Sure, I understand compiling and managing leads from a major trade show or campaign can seem like a huge undertaking. There are so many different types of people out there -- all sending your organization their contact information. It's a lot to sift through and, undoubtedly, you're going to come across fake email addresses and bogus phone numbers. But if you're truly a modern marketer, you have an RPM (revenue performance management) foundation in place to help you identify "what you're going to get."


Let's think outside this box of stale chocolates and turn this candy-coated analogy into a piece of cake. Here's how you slice it: RPM by definition is a strategy for managing a company’s interactions with buyers through the entire buying cycle that enables predictable, rapid, and profitable revenue growth. I like the word, "predictable," here. If you understand how to target correctly (for example: setting up a subscription preference center or developing personas to identify your company's ideal customers), you'll have more insight as to what type of data you're collecting. And if you build trust with your target audience, they're less likely to give you fake information on forms, such as, Job Title: Your Mom; Name: Hoosier Daddy, etc.


Leads are NOT like a box of chocolates, Mr. Forrest Grump. You can bet your ping-pong balls that following RPM and establishing a fully defined targeting process actually does allow you to know "what you're going to get." Not exactly what you're going to get, obviously; however, you'll have a pretty darn good idea.

 

But I'm a fan of giving idiots the benefit of the doubt (just ask anyone who knows me about my pre-marriage dating life...). Leads actually ARE like chocolate when it comes to lead quality. Contrary to popular belief, less is more when it comes to sales leads -- as long as those leads are of high quality. Think of it like this: M&M's vs. Godiva. I could eat 100 M&M's in one sitting. Easily. Doesn't mean that I should, though, right? M&M's are cheap and full of empty calories. I should eat just a couple bites of Godiva. It's rich and satisfying because it's higher quality chocolate. Sure, it might take me a little longer to hunt down a Godiva chocolate bar, and it's definitely going to cost me more cash than a bag of M&M's, but guess what -- it's worth it.

 

When your team takes the time to develop a lead funnel, you'll be able to distinguish which leads are cheap and which leads are worthwhile. You'll end up with less "Godiva leads" than "M&M leads," but your sales team will be thrilled. They'll know the higher quality leads are better and they'll be able to put more focus on closing them. Then, when your team meets your revenue goals, you can have a party with a Godiva chocolate fountain . It's a delicious win-win for everyone!

 

If you'd like to learn more about targeting and lead quality, we have some amazing classes at Eloqua University dedicated to these topics. Check them out today!

 

Learn more about becoming an RPM Masters!

For years, marketers have been using television, radio, print, and events as the most significant platforms to run campaigns. In addition to the traditional platforms, technology has thrown up several new mediums such as social media, emails, webinars, etc. For a modern marketer, it is essential to ensure and manage presence across all platforms. This is because if they are not doing it, their competitors are. Hence, most marketers try to stay up-to-date with the latest trends in technology.

 

The traditional marketing platforms still hold a critical value for most enterprises. For example, Fast-Moving Consumer Goods (FMCG), Automobile, Insurance, and Telephone Services organizations run their major campaigns on print, television, and radio platforms. For such enterprises and their marketing teams, television, radio, and print campaigns help in ensuring brand recall, win new customers, and retain the existing ones. Such campaigns, unlike email and social platform campaigns, require very high investments. The cost of such campaigns increases multiple times if the campaign is launched during marquee events/holidays such as the Super Bowl, Football (Soccer) World Cup, Major League Baseball, Thanksgiving, or Christmas. However, enterprises are willing to invest huge sums in such campaigns as they ensure maximum audience response. For example, during Super Bowl, majority of the U.S. population follows the game on T.V.

 

If an enterprise just sticks to the traditional platforms to run campaigns, then they are running a one-dimensional marketing strategy. The current technology landscape allows marketers to complement traditional campaigns with social media and email campaigns, and adopt a blended approach. For example, leading into the 2013 Super Bowl, Toyota USA launched an ad starring Kaley Cuoco, but complemented it by aggressively promoting a #whishgranted campaign on Twitter. To further set the Super Bowl mood, Toyota redesigned their Youtube, Facebook, and Twitter pages. As a result, Toyota recorded approximately 11.8 million views before the Super Bowl. Marketers can thus blend the best of both worlds (traditional television, and modern social and email platforms) to measure and ensure campaign success.

 

 

Here are some tips that can help you to plan and implement a blended campaign strategy:

  • Collaborate: Typically an enterprise may have separate marketing teams managing the traditional marketing campaigns and the modern, automated campaigns. If you work in such organization structure, ensure that you set up a command center or a special team that collaborates during the campaign design, planning, execution, and measurement.
  • Measure: The number of members targeted by T.V. or radio campaigns is typically in millions or hundreds of thousands. The Target Rating Point (TRP) system is generally used to measure response to television campaigns. However, the TRP metrics are not shared or released in real time. There is a delay of a few days or hours before the TRPs are released for public. However, if you are complementing Television, Print, or  Radio campaigns with an Eloqua campaign, you can access critical metrics such as response rates, click throughs, twitter shares, etc. in almost real time. This allows you to quickly measure, analyze, and act on campaign performance. As a result, you have more control over the campaign and can modify it, if required, on the go.
  • Offer: You need to offer something significant to complement or leverage the hype created by the traditional campaigns. For example, host a contest through twitter, or offer an additional discount to members who've subscribed to your email newsletter. Ensure that the offers hold value for your target segment and are aligned with the overall campaign theme.

 

Automation in Eloqua allows you to create such blended campaigns that complement each other and create a win-win situation for your enterprise. To start, learn how various organizations are implementing such a blended approach, and then plan your strategy. In addition, you can learn more about Eloqua features and the best way to execute such campaigns through the courses offered by Eloqua University.

 

Here is the link to our Learning Paths page, which helps you to choose the best training as per your role.

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