How To Use Personalized Marketing to Generate Leads With Executives
Posted by jack lamb on Wed, Apr 28, 2010 @ 02:10 PM
Suppose you have been given a major bank as a target account by your VP, Sales. Your company has never done business with this bank before and your software solution ranges in price from $ 500K to $ 5MM so the VP gave you a huge quota based on the large size of the bank.
You need to reach the key bank executive(s) that can authorize that kind of expenditure. But you also know that will be very hard with all the gatekeepers preventing you from getting to them.
What should you do?
One way to gain the attention of senior executives is by using personalized marketing with emails. By that I mean fine-tuning your message based on finding out as much as possible about the executive to give you a 360 degree view of that person. You can then align the benefits of your software solution with problems, challenges and other things they care most about.
Listed below are some important sources of information you absolutely need to read if you expect personalized marketing to generate leads with senior executives at banks:
- Annual Report
- Investor Presentations
- Quarterly Earnings with Earnings Call Transcripts
- Press Releases within the last 3 months
For each executive, you want to find specific items such as:
- Their history of accomplishments, where did they work before, do they get things done?
- Goals, objectives or plans they have for next 1 - 3 years
- Problems/issues they must address if they are to be successful
- Quotes that give insight into how they view ways to solve these issues
The list could go on but, hopefully, you get the idea.
Now you need to do two things:
- Look at your customer base to see if there are other banks that solved similar problems with your software solution; make sure to speak to the support people on these banks to ensure they are happy with the results they see from using your solution
- Sit down with your SEs, support people, other salespeople to come up with ideas on how to help the executives solve their issues with your solution
Finally, the hardest part:
Remember, these executives don't know your company or you. Make certain:
- The subject line is short, simple, relevant and timely or it will be a victim of the delete key. It must let the executive know the message is specifically meant for them and that you did your homework before sending it.
- The first sentence of the email should be in the form of a question, e.g. With Reg E changes about to hurt your customer profitability, are you looking for ways to increase wallet share of your customers? (This would have come from your research)
- You must emphasize you would like to discuss ways to address his/her issues, do NOT try to sell your product in the email - too soon - stay with their issues
- It will be important to include what I call a "teaser" to show credibility by referring very briefly to the fact you were able to help other bank(s) address similar issue(s)
- The email should be no longer than 100 - 150 words max - executives don't have the time - get to the point - make it short
- Last but not least, you got their attention, now you need a call to action that is easy for them to respond to. Here is something I found works well - give them three one-line choices they can check off in an email reply, this also helps get them to reply:
__ Call me so we can discuss
__ Call my admin so we can schedule a meeting
__ Send me more information
__ Other - please specify
If you get them to reply, you have started to engage them - don't rush to sell your software solution, stay with better understanding their problems/issues and discussing ways to address them - they will let you know when the time is right to discuss product.
Happy prospecting!