Magnet Marketing: A proven way to increase high value B2B prospect meetings

As I work with CMOs & CROs on their Demand Generation Plans for 2019, I hear concerns that traditional "Inbound Marketing Methodology" supported by BDRs, may not be sufficient to meet revenue growth plans for 2019.

The reasons are the following:

1. There are north of 120,000 BDRs in the U.S. Market. B2B Buyers are proactively disengaging with them
2. Most content marketing is really "Vendor-Centric Content" trying to mask as "Customer-Centric Content" B2B Buyers are getting smart about vendor-centric content. They are refusing to provide company-specific contact information (in the fear of becoming sales targets for these 120,000 BDRs)
3. B2B Buyers are overwhelmed with the volume of "B2B Content Marketing Clutter" Even the best content is not getting through. This will get worse in 2019 marketers produce & distribute such content.
4. Sales approaches to corporate buyers tend to be basic & unsophisticated. Buyers want a higher level, value-added and insight-driven discussion focused solving their problems before listening to vendor-pitches.
5. B2B Marketers still fail to fully understand what B2B Buyers really want from early-stage vendor engagement, it is actually pretty simple, they want two things:

"Help me be a better B2B Buyer and make the best decisions for my company"

"Help me understand how my "Best-in-Class Peers" are solving my most pressing problems"

Vendors who do this will be invited to the table and asked to pitch. In addition, they will establish critical buyer credibility and trust

Magnet Marketing Definition:

Magnet Marketing is a proven methodology to attract prospects to a best practices study focused on solving a problems of interest to prospects. The reason why it is called "Magnet Marketing" is that it attracts prospects who want to solve the problem your company is focused on. If a prospect is not interested in solving this problem, they are unlikely to buy from you. You are better off focusing on prospects who are actually interested. This in effect is "Prospect-Reported Intent Data" delivered in real time.

This methodology identifies key people at each prospect who are interested in solving this problem. This is essence is a prospect-informed identification of the "Actual Buying Team" No B2B MarTech or Database solution does this today. This methodology works in the following ways:

• Prospect self-identity as valid in-market buyers by expressing an interest in the best practices study
• Contacts who take the study are typically key influencers or members of a buying team for related technology
• Contacts who take the study are asked, who else in your company should take this survey or who else is interested in solving this problem. This identifies additional & often unknown influencers of the buying team (most of these contacts are unknown to B2B Marketers and are typically not obvious by title. I often see B2B Marketer over-market to members of the executive team and under-market to members of the buying team.
• Some contacts do not take the study but ask to see the report out
• The study participants typically attend the report out, inviting colleagues and sharing the study with their peers (this type of prospect-centric sharing and endorsed marketing is highly effective in terms of prospecting)
• Study participants often use the best practices study report out to justify technology investments (excellent exposure for the Technology Solutions Providers who sponsor the study)

I have personally conducted 100's of prospect interviews for my clients. One client closed their largest retail deal in history from this program. Sales professionals who participate prospect interviews also learn consultative peer-relating selling skills. Sales can leverage their findings in subsequent sales calls to add value and move up the sales sophistication curve.

Finally and importantly, prospects are more interested in the "Best Practices" of their "Best-in-Class" peer companies than they are in "vendor-pitches" However, when you deliver this type of content to them, they will always ask: "What do you do and how can you help" This is exactly the question that technology vendors need to hear and is often the start of a more positive & trusting relationship.

The is where "Magnet Marketing" comes into play. This is basically InBound Marketing in Reverse, here is how it works:

• The process starts with an externally moderated best practices interview with high-value prospects, this meeting is focused on solving critical buyer problems (sales participates in each prospect meeting)
• Best Practices is collected during each call, aggregated & published back to the market via authentic "Customer-Centric Best Practices Content"
• When buyers ask, where did this come from, you say, from respected peer companies who participated directly in the study, they will immediately take notice!
• The reason why this program is called "Magnet Marketing" is it attracts prospects who are interested in solving the problems your company is focused on. It often attracts folks you have not spoken to or did not even know (but are playing a hidden role in solving the problem)

Sales loves "Magnet Marketing" aa they just need to show up at prearranged prospect meetings, marketing loves "Magnet Marketing" as they get fresh "Customer-Centric Best Practices" that prospects actually care about.

Message me at michael@gotomarketpros.com for more details on "Magnet Marketing"