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3 Tips for Marketing in an Economic Downturn

Source: Element Three

After an historic 11-year run, the bull market finally came to a close on March 11, 2020. This was one of the five longest bull markets in history, and the longest since the 1980s. So we had a good run. But the global impact of COVID-19 is making marketers everywhere poke their heads up from behind the screen and wonder what they are going to do as we enter bear market territory for the first time since the 2000s, which saw the worst recession since the Great Depression.

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Source: Element Three

How to Write in a Conversational Tone and Increase Blog Engagement

Source: Jeff Bullas

When you’re having a conversation with your friend, you’re usually relaxed. You’re not trying to impress them with your vocabulary or pretending to be someone else.

But did you know that you can have conversations with your audience on your blog? You can speak to them the same way you talk to your friends over a beer on Friday night.

People are overwhelmed with information from social media, ads, and email. Content is everywhere. There’s only one type of content that filters through the noise. It’s genuine, easy to digest, and personalized to feel like it was written for you.

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Source: Jeff Bullas

How To Use Live Broadcasts For Your Company

Source: Marketing Eye Australia

Implementing a live video experience for your brand is an incredible opportunity to bring your audience together. Whether you are filming product demonstrations or a roundtable interview, your audience can use your live broadcast as an opportunity to stay informed on what your business is doing. There are plenty of platforms available to produce your live broadcast, so it’s easier than ever for companies to do this.

Below, we have a few pointers for businesses to consider before implementing a live video experience.

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Source: Marketing Eye Australia

How to Up Your Inside Sales Capabilities

Unlike traditional forms of sales, inside sales representatives are highly trained individuals who are required to identify, nurture and convert leads into customers through remote systems.

This virtual form of selling is made possible with the rapid evolution of technology and is becoming highly dominant within B2B, technology and high-ticket sectors. However, to remain competitive in this emerging system of sales, inside sales representatives must be educated on the tools necessary to drive favourable results.

Just like you wouldn’t attempt to repair your car without the relevant tools, you shouldn’t try to take on inside sales without the relevant skills.

There are numerous strategies that all successful inside sales reps employ to close more deals and create more satisfied customers. All of these skills can be quickly learned and implemented into your toolkit to help you achieve better results. Below we’ll cover our top 5 tactics you must include in your inside sales strategy.

 

  1. Develop a mastery of product knowledge:

Contacting a prospect and gaining their interest is the most difficult step of the inside sales process. However, if a product related query is asked and the sales rep cannot answer it, the prospect will almost instantly lose interest.

All successful inside sales reps must develop extensive knowledge of their company’s products. Through in-depth training, sales reps should have the ability to answer any question, whether basic or advanced; technical or practical.

Deep product knowledge enables sales reps to transform their pitch around each individual prospect, by specifying how the product’s features will provide value and satisfy the unique needs of the potential customer.

Knowing how each product works, the value it can provide, and its strongest features, separates the top 1% of sales representatives from the rest.

 

  1. Learn how to listen:

Inside sales revolves around the needs of the prospect, not the sales rep. Better results will be achieved once the representative focuses on the unique needs of the prospect, rather than their own desire to close the deal.

Inside sales reps should begin by listening attentively to their prospect’s needs and difficulties. In doing so, they can delve deep into the unique issue and develop personalised questions and suggestions that cater to the situation.

By putting yourself in the shoes of the prospect, you can determine which features and benefits are most important to highlight, based on what will provide them with the most value.

Rather than listing off all the product features and capabilities at once, this approach allows representatives to deliver a more ‘customer-centric experience’.

Since the benefits sought by each customer will vary, basing the value of your product on the needs of the individual will build a more favourable relationship.

 

  1. Embrace the marketing team and research your prospects:

Marketers work to generate interest and demand for a product. Once leads begin appearing, inside sales representatives take over to close the deal. Clear communication between marketing and sales teams is crucial in finding qualified leads that are likely to be converted into customers.

Drawing insight about prospects enhances your ability to dictate the likelihood of closing a deal. An effective strategy to uncover these key details is to utilise social media platforms such as LinkedIn to research your leads. In doing so, you can learn about the prospect’s position in the organisation, their capacity to make decisions and other valuable information that can assist the sales process.

With this insight, inside sales reps can tailor their conversation around the prospect, providing for a more personalised and customer-centric experience.

 

  1. Communicate clearly and responsively:

It’s not about what you say, it’s how you say it. The way you communicate your message is a vital sales skill and can help prospects relate with you when conversing.

We can make others feel comfortable by mirroring their actions – the same goes for their tone and style of voice. Matching the way in which a prospect communicates can go a long way. If they are speaking in a serious tone, do the same. Conversely, if they are using informal language, the same principle applies.

Actively listening and responding with follow-up questions shows that you are focused on the needs of the prospect, rather than concentrating only on what you are going to say next.

Base the conversation around the prospect to emphasise that you are not selling them a product, but rather, trying to provide them with a solution to their problem.

 

  1. Remember to follow up:

It’s awfully easy to send the first e-mail or make the first phone call, however, following up can be daunting. One week passes… no response. One month… still nothing. Should you move onto the next prospect?

Research by The National Sales Executive Association showed that 80% of sales are made after the fifth call and 92% of salespeople give up before that.

To succeed as an inside sales rep, you must be persistent and confident. Eliminating the fear of rejection will differentiate yourself from 92% of people competing for the same position and will put you in a better position to gain the client’s attention.

How Companies Use AI To Improve Brand Management

Source: Jeff Bullas

Ideally, your brand illustrates who your organization or company is and how it’s perceived by your customers. This means both marketing and product managers need to work closely to protect the overall brand value.

Brand management, at its core, is all about sustaining, positioning, defining, crafting, and ensuring a good brand reputation. All in all, brand management is vital as it helps your company influence purchasing behavior; reassuring clients that your company values them; achieving customer loyalty.

This is where Artificial Intelligence (AI) can make all the difference. Improving customer experience, guarding online reputation, monitoring brand reputation, or leveraging brand engagement, to name a few. AI plays a key role in enhancing a company’s brand value.

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Source: Jeff Bullas