Lead Generation & Nurturing for Your Architectural Firm

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This is the initial portion of a four part series dedicated to lead generation and lead nurturing process. No business can be successful with new client development without a strong understanding of this phase in the sales cycle.

Regardless of the methodology of lead generation you employ, in all probability your architectural firm will spend considerable time, energy and financial resources on lead generation. Some firms utilize direct mail, telemarketing, referral or customer-based marketing, trade shows, networking and a host of other strategies to generate leads and revenues. Others use their own particular formula for marketing and advertising. Lead generation and lead nurturing are top-of-the-funnel aspects of marketing and sales in every business; yours is no different.

This article is not about the strategy, it is about the process. As an inbound marketing agency our company, Zen Marketing, is in the business of teaching businesses how to generate more leads from their websites using content, but this is not a sales pitch today. Forget inbound marketing for the time being; let’s focus on the best approach to nurture the leads that you have generated.

One of the oldest clichés in the business world is “sales is a numbers game”. The number of customer sales transactions is the direct result of the number of “touches” the suspect experiences to convert to a prospect, to a qualified lead, to a sale. A touch might be an ad in the newspaper, meeting at a trade show, phone call, direct mail piece, or article found on the website. Every business is different; every marketing campaign is different. The sales cycle is what it is for your business; you know best the period of which we are referring to.

Those attempting to generate qualified leads, or prospects, if you will, will quickly learn precisely how long and what number of those suspects and prospects result in completed transactions (aka closed sales). In measuring this, a hard truth is exposed: there is major difference concerning “qualified” as opposed to “ready to purchase.”

Here is another truth. There will always be a percentage of “qualified” leads in the lead nurturing process that simply fail to generate a sale, just as there are those that make it all the way through the sales funnel, having received all of the lead nurturing they could ever hope for, and yet fall completely out of the pool of “sales-ready” prospective purchasers.

Statistics reveal that any architectural firm can consider approximately eighty percent of qualified prospects will ultimately make a purchase; however, there is no guarantee the transaction will hit your revenue report.

Lead Generation

We won’t be spending a lot of time on lead generation, because there are so much varied approaches that there are hundreds of books on the subject available for download on Amazon. The trick is realizing the difference between a suspect from a prospect; between a “lead” and a “qualified lead.”

Successful business-to-business marketing tactics include a broad and diverse range of tactics. Some of the most widely utilized include:

• Relationship marketing
• Content or Inbound marketing
• Direct or outbound marketing
• Online marketing
• Events 
• Tradeshows
• Educational workshops

When it comes to lead generation each tactic yields some amount of leads; but at what cost? And how efficiently are the leads created? The graph below, courtesy of our partner Hubspot®, reflects the sliding scale of the costs per lead. I provide this for information only, and won’t be discussing the benefits of one over the other, as it is for your firm to decide what strategies will be effective.

That said, nearly every any business card collected at a trade show is nothing more than a link to a suspect. Chances are that the person providing the card had a fanciful notion to share it because he or she:

• Behaviorally averse to confrontation- it’s easier and safer for them to simply string you along
• Was too bashful to say that something about your product or service caught their eye and nothing more
• Something from their past was brought to mind as a result of seeing your booth
• They love collecting business cards (you wouldn’t believe the number of cards that are given out and then thrown away when the person gets home)
• They ask for more information, only to gather further information to compare with your competitors

IN OUR NEXT POST ..... we take a serious look at lead nurturing.

How to Explain Inbound Marketing to Professional Services Firms

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If you were to have the ability to deliver your very best, top ranked Keynote Presentation to each of your investors, strategic partners, your favorite customers and every competitor’s customer base, would you like to? What if you offered your best marketing information to grow your top and bottom line revenue targets, would you be willing to make the effort?  Of course you would.  That is exactly what an inbound marketing (content marketing) program allows you to do twenty-four hours a day, seven days a week. 

Inbound marketing is nothing more than utilizing your best information about your business, your best customers and your strategic partner’s creativity and inspiration to draw potential consumers in your direction.  By feeding that group with consistent engaging and relation based information, they will make the transition to becoming a client.

In the old days, the customer would sit patiently and quietly listen patiently to the sales pitch.  Today's consumer knows that they manage the sales transaction now. Today's consumer is market wise, and knows it as well as your best sales person, and your competitors.  Inbound marketing provides an opportunity for you to create compelling, educational, engaging content that creates a relationship with that individual over time. By nurturing the potential client with worthwhile, inspiring information and compelling benefits, when it is time for the buying transaction to happen, the consumer you have created a relationship will choose you over your competitor.

Inbound (Content) Marketing is not a new concept.  What is new happens to be the way potential clients become actual ones.  They are certainly more informed and possess a better practical understanding than they ever have been, and their expectations are much higher than one might imagine. There is a huge amount of competition, and every one of your competitors is after their share.

Don’t just take my word for it, take a look at what Google and Jim Lecinski have to say:

“Google’s Zero Moment of Truth -  ZMOT is that moment when you grab your laptop, mobile phone or some other wired device and start learning about a product or service (or potential boyfriend) you’re thinking about trying or buying. I’m sure you know what I mean — you probably do web searches like this every day.

BUT

Would it surprise you to know that a full 70% of Americans now say they look at product reviews before making a purchase?

Or that 79% of consumers now say they use a smart¬phone to help with shopping?

Or that 83% of moms say they do online research after seeing TV commercials for products that interest them?

Try to see Inbound, or Content Marketing as:

• Content is storytelling, and there are many stories both within your firm and from your best clients.  Share the stories that make people’s lives better.
• Content is the pre-requisite to Brand Awareness.  It will build it if it is good.
• Content is easily communicated in multiple mediums, such as blogs, social media, video, reposts, Likes and Re-Tweets.
• Content is an investment in your brand, your future and that of your customer’s lives.
• Content separates you from your competition.  The one with the best content wins.

The marketing “game” is constantly evolving, and changes in marketing strategy must be capable of shifting along with the marketplace.  Technology being what it is, you can expect change at nearly every turn.  What is not changing, is the level of competition, and the knowledge of the consumer.  The responsibility of every professional services firm is to be nimble, quick to react, market focused and consumer friendly.  After all, it is about developing leads that can be converted to clients, and the way it is done today is through engaging, inspiring value propositions.  Your efforts to provide value and sincerity consistently will improve your market position.

Inbound marketing is about moving away from price related sales people, and toward “trusted advisor” or “alliance consultant” status.  If you were providing worthwhile information that makes his or her lives better, why would anyone move away from you?

There is no reason to fear inbound marketing, as it is the natural evolution of the marketing and advertising concept.  Traditional forms can supplement it, enhance it, but the conversion to online search is reaching critical mass.   Don’t be left wondering what happened.

Why Professional Services Firms Need Inbound Marketing

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CPAs, Architects, Doctors, Dentists, Lawyers, and Financial Services firms all use some form of marketing to gain new business.  Some use informative dinner invitations to persuade unknown potentials to listen to their pitch, while others use display advertising, couponing, radio, television and a host of other traditional methods to generate leads.  While no one disputes customer referrals as being the greatest way to generate leads, it may be difficult to develop a formalized referral program. 

We all know that the Internet is still in its infancy, despite it being available to the public for nearly twenty years. No, Al Gore did not invent the Internet; he just used the term so much that people thought he must have.  He even thought he “popularized” it, but even he knows it was around long before he sought public office.  The point is, even with nearly two decades of use, the fact remains that it is still evolving. As for marketing today, inbound marketing is the new form of marketing for the online business for several reasons.

• Companies are expected to have an interactive web site, or be deemed “out of touch with reality.”
• Inbound marketing is less expensive than traditional advertising by 61%.*
• Consumers have turned away from television commercials (DVR and TIVO), radio ads (Serios radio), telemarketing (caller ID), newspaper and magazine print ads (online news and e-mags).
• Consumers buy from those companies that display a sincere appreciation for the consumer through developing a relationship first.
• During the buying process, information gathering is performed online rather than in-store sales pressure.  Online information that makes their lives better enhances the relationship.

Phone book advertising is down to the point of near extinction in printed form, newspapers are folding every day due to the lack of print advertising, radio and television advertising is more expensive than it has ever been, and so forth.  The cost of printing and mailing of advertising in direct mail is more expensive and not always successful (because it is usually not executed properly due to lack of budget or vision).  The consumer and/or decision maker is now in charge, and is no longer interested in being bombarded with commercial advertising.  The consumer is using the Internet to search out information, and will purchase after they are comfortable with the business or provider that they feel will best suit their individual needs.

I bring out this point as a counter to what some feel is relevant; traditional marketing is no longer working the way it did.  A few weeks ago, I wrote an article stating that the traditional model was broken, and I received some negative criticism from it.  While I believe that traditional forms of marketing are in fact less productive than in the past, the bottom line is more people are seeking information online than any other form of business information. The trends reflect a permanent move away from “sales” transactions to “relationship” transactions. People want to feel they gained value and a friend, not just a commodity for the best price. 

Some firms will require more of an online presence then others, but if your competitors are actively involved in inbound marketing, chances are you should be too.  Competition is fierce, and the future is for those willing to fight for it.  Inbound marketing is not the panacea, and it is hard work, but a comprehensive review of your present marketing process versus your goals can tell you what the future will bring.

A no-cost, no-obligation, comprehensive marketing evaluation can be arranged by calling Zen Marketing today. 

*-As documented by Benchmark Survey of more than 1,271 Chief Marketing Officers, Marketing Sherpa

Leadership for Consultants – the Client Expects to be Lead

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Your client or customer expects to be lead.

She/he is receiving so many market signals that it is difficult to make sense of all the traffic and noise.  Questions like:

• Where should I be investing my marketing and advertising dollars for the best return?
• How can I cut costs and still maintain my market share and sustainability?
• How can I improve the quality of the leads on which my sales people need to focus?
• What are we doing that works, and what needs to be added or adjusted?

Your clients look to you for leadership.  Lead them.

This digital revolution is not going away, and in fact, it is gaining momentum. The small business is competing on a global stage, and the playing field is growing more level with each passing day.  The role of leadership is one that cannot be marginalized, your client is depending on you to advise, counsel, befriend and show sincere concern for their betterment, as that is the reason for which you were hired.

Clients expect to be lead for a number of reasons, so leadership must become close to their clients in a way that was perhaps unheard of in decades past.  The days of blasting out advertising and marketing strategies and tactics are gone, and have been replaced by the new model of inbound or internet marketing.  Clients are searching online for nearly everything, so if, and when, they find you, your team had better be ready to greet them with every courtesy.  The cost of client acquisition is nearly 80% more than that of maintaining a long-term client.  The most cost effective client is an existing client.  They need nurturing, care, advice and attention more so than ever before.  They may not know it, but your client is expecting leadership at every turn.

Several client-centric behaviors must be present to be successful in maintaining and growing your clientele.  It is up to leadership to instill the leadership ownership to each member of the company, so that single-minded purpose results in client satisfaction.

Adapt and embrace.  Embracing the client’s needs through every step of the lead identification, lead nurturing and close, are instrumental in growing the sustainability of clients in general.  Adaptability lends itself toward that action.

Analytics in real-time.  Real-time application of resources drives the relationship.  Clients need focus and attention, and the use of analytics to monitor, advise and adjust the marketing efforts of said company is how clients remain clients.  Data systems must be cohesive to the group, accessible by anyone involved in the acquisition, nurturing or ongoing monitoring of the client so that when they call, there is information readily available as a response.

Cross-trained staff.  The accessibility of information alone is not sufficient, however, the data mining, analysis and resulting observations must be “ready on the lips” for immediate reply to a client’s request.  The manager is not in his office, is not a satisfactory response any longer.  The competition is too fierce, and the client too costly to replace.

Single-purposed mentality.  The alignment of a team is not always easy, and therefore significant effort must be placed on this area above all.  With each team member marching lock step toward the common mission, the client will benefit.  This mentality cannot be demanded, rather the encouragement of experiments toward reaching the afore-stated outcomes.  When the leadership truly believes that the Client is King (or Queen) and that nothing else matters, the transmission of that philosophy shapes the entire organization over time. Believing is seeing. 

Encourage and support.  These are critical when mistakes happen, regardless of how hard we try. Leadership must encourage not only experimentation, but also creative displays of problem solving.  Not every attempt will turn out right, so supporting the effort without chastisement of the negative outcome assures a team loyalty that is hard to come by.

Clients expect to be lead through your everyday actions and activities.  Their world is full of uncertainties, and like most, is sometimes dazed by the number of signals that they are receiving from those around them.  It is your job to lead them on the path to success, peace of mind and security.

As the person(s) they have selected with who to do business, lead them.