123 eGuides

1 Minute Advice: 3 Examples of Lead Classification

Classifying sales leads helps a company implement a lead qualification process, making it easier for salespeople to be more effective at their jobs. Here are 3 examples of possible lead classification schemes for companies that sell to Businesses (B2B) and Consumers (B2C):

Example 1 (B2C or B2B)

This example applies broadly, whether a business is marketing to consumers or individuals in business. The criteria are solely interest and time frame for possible purchase, ranked in order of priority from 1 (most qualified) to 4 (least qualified).

1 = HOT. Has an immediate interest.

2 = WARM. Interested, has a need in 1 to 3 months.

3 = COOL. Interested, has a need in 3 to 6 months.

4 = COLD. Interested, has a need in 6-plus months.

Example 2 (B2C)

This example applies to a business marketing to consumers. The criteria are based on interactions by the consumer with online media, ranked in order of priority from A (most qualified) to D (least qualified).

A = Visited website, requested information via website, visited Facebook page, “Liked” Facebook page, Twitter follower

B = Visited website, requested information via website

C = Visited Facebook page, “Liked” Facebook page

D = Twitter follower

Example 3 (B2B)

This example applies to a business marketing to business managers. The criteria are based on knowledge of the audience’s purchasing authority, budget, and interest, ranked in order of priority from A1 (most qualified) to C2 (least qualified).

A1 = Priority 1. Primary purchase authority, budget available, interest in short-term purchase.

A2 = Priority 2. Primary purchase authority, budget available, interest in purchase within 6 months.

B1 = Medium 1. Primary or secondary purchase authority, budget undefined, interest in purchase within 6 months.

B2 = Medium 2. Primary or secondary purchase authority, budget undefined, interest undefined.

C1 = Low 1. Purchase influencer, budget available.

C2 = Low 2. Purchase influencer, budget undefined.

For more check out Sales Leads 123, one in a series of 123 eGuides!

1 Minute Advice: 6 Free Sources for Market Research

If you're launching a brand, a product, or a service, it pays to do market research first. You will minimize your risk by understanding market conditions, characteristics of your target audience, and the competitive environment. Here are six free sources you can use to research your market:

1. Online search

Entering the appropriate search terms (keywords) into Google, Bing, Yahoo! or other search engines will very quickly reveal sources of information. Google's free “Google Keyword Tool” can also be used for market research, because it analyzes competitive keywords and indicates the number of monthly searches on keywords on both a local and global basis.

2. Government information

A wealth of information is available from federal, state and local government sources, most of which can be accessed online.

The easiest way to access federal government information is through specialized search engines such as: USA Search, the official U.S. search engine - http://search.usa.gov/, the U.S. Dept. of Commerce gateway to government information - http://www.fedworld.gov/index.html and U.S. government science information - http://www.science.gov/

3. Business organizations

Various business organizations make valuable market research information available online. Local Chambers of Commerce and state and city Visitors and Convention Bureaus are useful sources, as are trade and professional organizations and associations.

4. Newspapers and magazines

Increasingly, print publications have migrated their content online. Even paid publications make a large amount of information available free of charge. Don’t overlook newspapers, magazines, and journals as part of your research.

5. Competitor websites

Getting information about product competitors is as easy as looking up their websites and Facebook pages. Pay particular attention to the information a competitor provides to investors. Also look in the newsroom or media section of their websites to gain awareness of new product announcements and product enhancements.

6. Libraries

Libraries provide access to research sources in the form of directories and book collections that might otherwise be prohibitively expensive. They can also provide additional sources of online information that might not be commonly available, such as paid subscriptions to scholarly journals or information services.

For more, check out Product Launch 123, one of a series of 123 eGuides!

1 Minute Advice: 8 Key Questions to Ask Before You Launch Your Brand

1. Have I studied my target audience? Do I know enough about them, and am I aware of the best ways to reach them? If the audience is global, am I prepared to launch globally, or should I launch gradually?

2. Am I well aware of the competitive challenges that may face my brand?

3. Have I developed a brand positioning statement?

4. Is my brand truly ready to be launched; i.e., have I settled on a name, logo, and slogan, and do I have my brand identity solidly under control?

5. Have I prepared all necessary brand launch materials?

6. How will my brand enter the market? Do I have the necessary distribution channels lined up? Am I ready to accept and fulfill orders?

7. What marketing techniques and which media will I use to launch my brand?

8. What else do I need to consider to make my brand launch successful?

1 Minute Advice: Packaging Your Brand

In his book Why We Buy, Paco Underhill says of the store: “Store displays can be remade to allow shoppers to touch and try the merchandise. But if product packaging doesn’t change as well, a great many opportunities will continue to be lost.”

Today, most brand marketers believe in a very broad definition of brand packaging. This means that “packaging” refers to more than just the physical way a brand is presented; it also refers to the way the entire brand experience is packaged.

The brand name, brand logo, and sometimes the brand slogan are all part of the package. For a product, brand packaging includes the way the product itself is designed and produced. It also includes how that product is actually delivered to the target audience. For example, the product may be packaged in some sort of container. Instructions and other information may be included. In the case of a service, the brand packaging is likely to include the brand name of the service, what features and benefits make up the service, and how that service is promotionally described.

But packaging a brand goes even further. It also involves the brand experience – everything related to the brand that has an impact on the target audience.

Take an Apple iPhone as an example. The brand experience for an iPhone includes the brand name and the logo, of course, but it also includes the physical design of the iPhone itself and the way it is physically packaged.

In addition, the brand experience includes the iPhone’s functionality and its applications, as well as the online “App Store.” It includes the cellular network on which the iPhone operates. It includes the accessories. And you may not think of customer service, technical support, product fulfillment, and even the product warranty as part of the brand experience, but they are. They all play a role in how the iPhone is perceived by the individual who considers purchasing one and, ultimately, becomes an iPhone user.

So “brand packaging” is anything and everything related to the branded product or service that touches the target audience.