Can a customer be bought?
No, you can’t buy a customer, because customers, including business customers, are the people who decide whether or not to buy a product or service, and their choice depends on a number of factors, such as price, quality, and the opinions of other customers. One of the best ways to attract the attention of b2b customers is to provide them with quality products or services, as well as to give them a positive customer service experience. When targeting some companies, however, we feel that they expect the leads we generate to be “ready” customers, so to speak. Ideally, the demand of these potential customers, should be matched to the service and interests of our client.
Doesn’t the market accidentally work in such a way that you, as the provider, have to find something in your service or product that meets your customer’s expectations, and not the other way around?
Why are there few companies that will deliver a client for a “success fee”?
The pay-for-performance billing method, also known as pay for success, or “success fee” in English, is based on the fact that the company providing the services does not charge an upfront fee, but is rewarded only if the client achieves certain goals or successes. Such a method of billing is, of course, used by, among others, consulting companies when obtaining grants or investments, and by advertising and marketing companies that offer their services on a pay-for-performance basis, for example.
However, delivering a client for a success fee, i.e. finding a client for another company and getting paid only if a contract is signed between the client and that company, is not very popular. This may be due to the higher risk of failure in case the customer rejects the proposed b2b lead, or insufficiently fulfills the contract with that lead. And this will result in a lack of compensation.
As a result, companies tend to prefer other forms of billing, such as commission or a fixed fee for a service, as in the case of the lead generation campaigns we do.
To undertake such a partnership, a company like AutomateMeUp must see sales potential in its customers’ services. In other words, we need to believe that we will get leads, and these leads will quickly convert to deals. So, in order to convert to such billing, we need to be sure, not only that the product or service is in demand. We also need to be sure that potential customers are satisfied with the product or service provided.
If you want us to recommend you for success fees, for million-dollar projects, isn’t a few thousand zlotys for a quarter of our work worth the sacrifice, when you are 100% convinced that your company always does a good job?
Why not just refer customers to your company?
This, of course, depends on various factors. The key question is whether you can fulfill the client’s needs if you know a company that might need your services. If you are unable to meet the requirements due to lack of time, resources or competence, you should honestly admit it and not take on a task that you are unable or simply don’t want to do(because it’s too small a project). This will avoid letting down your client’s expectations and jeopardizing your company’s reputation. On the other hand, if you are able to provide added value to the client, then of course it is worth the cooperation. However, we do not recommend our clients to other companies without first making sure that the company will be able to meet the client’s requirements. That’s why last year we closed the lead generation program at AutomateMeUp under the “performance” billing model. None of the people who wanted to pay only per acquired lead wanted to meet our requirements for a portfolio and reviews of their product, instead everyone wanted us to work for a “success fee.” Yet their services were so good that they only acquired customers for “fee”.
Don’t underestimate a cold lead. Automating the work.
Cold leads are individuals or companies that have not yet expressed a desire to use a business’ services or products. Some companies may disregard such leads and focus only on those who have already shown interest in their offerings. However, cold leads can benefit if they are addressed and appropriate marketing activities are implemented to attract their attention. By systematically warming up cold b2b leads, such as by sharing valuable content or at least regularly contacting the lead, we can turn them into customers who are eager to use our services or products. Ignoring cold leads, on the other hand, can lead to missed opportunities to attract new customers and reduce, rather than grow, business.
Automated cold lead acquisition is an effective method of acquiring customers. One tool to automate lead acquisition is to identify companies that appear on your website but do not leave their contact information, through applications such as TriggerMeUp https://automatemeup.com/pl/home/triggermeup/ , and then contact representatives of that company via LinkedIn. An important aspect in acquiring cold leads is also lead nurturing, which is the process of building relationships with buyers at each stage of their buying journey, focusing on communication activities and providing relevant knowledge about our product or service. Automating these activities allows us to effectively acquire customers without spending a lot of time and effort. All we need is a regular mailing campaign, e.g. as part of our market-fit https://automatemeup.com/pl/home/market-fit/ activities (it can be along the lines of cold-mailing communication, it can be sharing news about already acquired customers) to leads that have not yet converted for us.
Designing the lead nurturing process
There are several steps to consider when designing a lead nurturing process. The first is to arouse the interest of potential customers by presenting to them the advantages of working with your company. How to do this is easiest: simply describe regularly what you have achieved with your recently served customers, sending an email to each lead every 2-3 months. In doing so, try to get some feedback on your message. Write the recipient what to do with your message. E.g., ask if they are interested in achieving similar business/technology results, etc.
Lead nurturing also requires keeping in touch with customers after they make a purchase to build customer loyalty. To do this, you can create valuable content and send it to customers to keep them interested and encourage repeat purchases.
It is worth remembering that the lead nurturing process requires constant monitoring and modification to adapt it to the changing needs of customers and the market. That’s why it’s a good idea to regularly analyze the results of your efforts and test different strategies.