Do you know anyone on the inside of a company you are targeting to buy your product or services? Digital platforms offer so many options to get in front of a target audience and help with creating brand awareness and, to generate leads.
However, an often-overlooked strategy, especially for B2B is creating programs that open doors to relationships.
Insider Marketing
A client in the industrial paper industry was looking for another way to generate leads and interest in their product offering. They were having a difficult time getting meetings with larger prospects. They had strong digital brand awareness programs and did generate leads, but wanted to accelerate their growth.
As is often the case with confidential assignments, I can’t provide too many details, but the strategy has proven successful and may have some application for your business.
First, we started by identifying the companies that wanted to do business with, and we created a large list.
Then we segmented it by size and determined that a full-court press on the top ten percent would be our focus.
We then used the LinkedIn connections that employees (at my client) had to start to find paths into these top ten organization. It took time and a lot of work, but we found many ways to get a foot in the door.
Then we created incentives for introductions.
We reached out to second and third-tiered connections and said,
I’m a friend of a (name of second and third-tiered friend), and I’d like to speak to you about an opportunity where you can make some money (or a donation to a charity) by making an introduction. No other strings attached. Interested in learning more?
This program rewarded second and third level connections first for getting a little education about our products and then to open a door with friends. We created a private landing page with all the details about the program so they could read more information about us, see testimonials from folks in the program and a simple step for setting them up as affiliates. We offered assurance that this was confidential and of value to their company. Although we only had a small percentage work with us, most of these connections proved very valuable layered on top of our other brand awareness activities.
What happened over the next six months was that my client started to meet people with connections to many of the targeted companies. They got a chance to learn how about the decision-making process and who the key players were and to get insights from those insiders about who to approach within the company. One deal, although not finalized, is moving forward based on this insider marketing approach.
The relative cost for these introductions is small compared to the tens of thousand of dollars we spend on other marketing activities. These investments are measurable and worked to get doors opened.
Marketing Lessons in Relations Programs
- Start with the ethical intention of openness and authenticity. You aren’t trying to trick anyone. You are trying to get a foot in the door by paying someone to make an introduction. By offering cash or a donation, you let the individual choose. You provide compensation where today people help strictly based on friendship.
- Make a comprehensive wish list of what companies you want to sell.
- Segment the list so that you focus your efforts on the best opportunities. For example, don’t waste time with companies that are too small or in the wrong geographies.
- Identify second and third level contacts you have had those companies. (first level contacts are best but often difficult to find)
- Create a program that says, we will pay you or will donate to the charity of your choice if you learn about our company and to then help us find a path in to do business with your organization. Many employees will be interested, and you aren’t asking anyone to do anything unethical. It is voluntary. You aren’t paying purchasing managers off – you are paying people who work at these companies to help you understand how decisions are made on issues related to your products or services. And, you are paying for insight into who are the real deciders so you can focus on reaching the right people.
- Slowly, you will start getting introductions to people within those targeted client/customers, and those individuals can be like Sherpas helping you find a path to the right decision makers.
Relationship programs institutionalize the idea of networking by rewarding insiders to help you.
Networking like this happens every day in almost every industry. In the digital world, there are affiliate programs where people get a small fee, to introduce their friends, clients or subscribers to buy a product or service. If your friend’s friend opened a door for you to meet a prospect, wouldn’t you offer to reward them with something of value?
By creating an organized insider marketing program, you are finding a quicker path to getting in front of the right person.
Are you still on the outside?
Interested in counter intuitive approaches to getting your foot in the door of prospects? Let’s talk. 919 720 0995 or email me at jeffslater@themarketingsage.com
Photo by Holly Mandarich from Unsplash
