Is Your Inbound Marketing Mindset Dooming You to Fail?

There's no denying the shift the meetings industry has experienced in the last few years about the way meeting planners want to hear from, and interact with, suppliers.  Like me, you've probably seen and even participated in debate over whether "cold calling" is dead.

While the days of "dialing for dollars" are long gone, I respectfully submit that anyone who thinks the phone is an archaic means of communication is sadly mistaken.  Very rare are those for whom ONLY blogging and posting on social media will bring all the business that they need.

A successful inbound marketing strategy with some elements of outbound activity will even out the ups and downs of the sales cycle.  And yes, this may mean using the telephone.  

Except that now, using the phone looks like this:

• With abundant information available online, you can build a list of prospects and approach them intelligently -- not "cold calling" but "warm calling";
• With a regular lead nurturing program, where you have your prospects' permission to maintain contact via email, you can place smart follow-up calls whenever a prospect clicks on a link to download or access an educational resource you have produced;
• Calling someone to reconfirm they will be attending your event or meeting you at an industry tradeshow (something that mitigates no-shows!).

Smart outbound activities may also sending them the odd mailing or handwritten note. If you think I'm kidding on the snail mail bit, check out this blog from my friend and meeting planner extraordinaire, Sandy Biback.

Inbound marketing without outbound activity is like expecting to meet Mr. Right with online dating, without going out on any dates!  It's possible, but likely a recipe for failure.  But your odds will be better if you are willing to maintain the relationship proactively too!  

New or Used? Finding the Right Data for the Job

This post is by Nicholas Button, Business Development Specialist / Data Coordinator at Greenfield Services Inc.

If your company is launching a lead generation campaign, one of your first decisions is where to source the data.

And as that conversation unfolds, you may find yourself in one of those rare situations where trying to breathe life into your old data can lead you astray.

It may be tempting to recycle information by updating contacts from your own database. But it is possible that this data became old for a reason, because those contacts and organizations no longer are suited to your destination or hotel.

But if you invest a bit more by researching newer, specific data, you get to decide exactly the type of business you want to attract and gather brand new, information on a new group of prospects. My own experience is that online list building and competitive research, followed by phone lead generation, can produce fresh, solid leads.

Platforms like LinkedIn, Facebook, and Twitter reduce the time it takes to prospect by making it easier than ever before to track down the right contact. Often when you have the wrong contact name, the gatekeeper may become suspicious of your call, making it more difficult to get to the right contact.

Online data gathering also involves compiling a history of the each target organization’s events. Painstaking research means precise results—so if you’re looking for medical associations with 500 to 600 participants looking for a hotel in Florida, that’s the list you get. The result is a more efficient, streamlined call where the contact needn’t spend their valuable time explaining their event history. This can lead to better relationships, more qualified leads, and a stronger possibility of your customers coming back to you.

In the end, the appreciation and new business you earn will more than outweigh the extra cost you incur by buying your data fresh, rather than using the data from your existing database.

Image: FreeDigitalPhotos.net

Meetings Industry Sales Reps Who Still Believe in Santa

This ISN'T an April Fool's post.  In a recent e-newsletter I wrote about a hotel sales manager who was looking to buy a list from us.

He was looking to organize a lunch in the Toronto area, and he wanted to have 50-100 new qualified meeting planners so he could “educate them” (his words, not mine) about his company’s wonderful hotels.

I used to think it was just hotel, CVB and other meetings industry suppliers who are looking for the "perfect" list, when I came across a blog by marketing consultant Dawn Westerberg who wrote B2B Marketing – Finally An Email List Of People Who Are Ready To Buy!  I guess it’s not just hospitality sales reps who are guilty of this mindset. There are more B2B salespeople who think this way too.

If there was a silver bullet, I’m sure someone would have found it by now.  The harsh reality is that sales is hard work.  So why do sales reps insist on looking for the “perfect list” like spoiled 4th-graders clinging to the belief in Santa Claus?

Here are some thoughts.  Perhaps:

·     It's easier to hunt for the “perfect list” than it is to cleanse a database and re-qualify dormant accounts.

·     It's easier to search for the “perfect list” than to execute a lead generation program . Yes good, old-fashioned, picking-up-the-phone-and-calling-prospects to see if there is a possibility of doing business.

·     It's easier to dream of the “perfect list” than to build a lead nurturing program and relationships with prospects. To come up with meaningful information that helps prospects do a better job, creates value and trust.

·     It's easier to shop for the “perfect list” than to create a system that will gradually attract one; an inbound marketing system that uses strategic search engine optimization, content development and social media to drive inbound traffic and capture interested prospects.

·     It's easier to look for the “perfect list” than it is to research one. Online list building is not a mysterious function that requires a special skill. But it does take time and dedication. The payoff though can be sizable.

Sorry if the above sounds like a tirade.  But I’ve had it with people who want to take the easy way out. Building long-lasting relationships with meeting and event planners is hard work.  It takes research, persistence, and a genuine willingness to help. To top it off, you have to be organized and have a systems-oriented mindset.   Anything less is like believing in Santa Claus…

Competitive Research & List Building – Can You Afford NOT to Do It?

Do you know what groups are having their meetings at destinations or hotels within your competitive set?  This knowledge can assist your DMO or property to draw business your way.   The list of who has been to such-and-such (competitive) hotel could be a very worthwhile one to be prospecting!

Greenfield has executed many projects that combine both online market research and lead generation efforts and we’ve found that, on average, up to 10% more leads can be generated this way.

The first lead generation project was completed for an independent resort property.  We conducted this in two phases – first, we conducted online research on their competitors to see what groups were advertising a meeting/event at these competitive hotels. We located the contact information on the organization’s website, along with the name of the event planner (if readily available).  We then contacted each organization to determine if the hotel we were representing would make sense as an upcoming meeting destination. Results were very positive:

• We were making a “warm call”.  Because they had met at a competitor’s we knew they were qualified for our hotel client.  They were likely to be resort users, and be able to afford our client’s rates.  Clients were much more responsive when we referenced past events.  We were also able to ask more probing questions: “I was just on your website, and saw that your 2010 conference was held at XYZ hotel, did you find that it was successful?  What made you decide to hold it there?  Have you ever considered our property as a meeting destination?”
• Proof is in the results:  An investment of $6,500 for this particular project, we generated over 80 new business leads, representing over 28% of the records we gathered and prospected.  These leads represented over 21,000 total potential room nights for total potential revenue of $3,000,000.  Now that’s lots of business for their sales team to pursue!

Another recent competitive research project was city hotel looking to see what their competitors are quoting for Corporate Rates.  The hotel director of sales identified 75 companies for us to represent as mystery shoppers in calls to five of their closest competitors.  We picked specific dates and asked what their availability was, along with the rates and inclusions for each account.   The resulting report enabled our hotel client to make educated decisions about what corporate rates should be proposed for 2012.  They were also able to assess what inclusions should be offered, ensuring they were positioned with the greatest competitive advantage possible.

The type and depth your CVB or hotel requires may vary, but in the end devoting time to online and competitive research will help you gain market share and grow your business!