The B2B Revenue Executive Experience
The B2B Revenue Executive Experience

Episode · 1 year ago

B2B & Public Sector Lead Generation w/Mike Farrell

ABOUT THIS EPISODE

Your top SDR has spent all night brushing up on B2B sales tips. They make their way to the first prospect, who happens to be a high-ranking military official. Little do they know, those B2B tips are no good here. This is a public sector institution, and they don’t play by B2B rules.

Green Leads CEO, Mike Farrell, explains.

What we talked about:

  • B2B vs Public Sector: dos & don’ts
  • AI risks & opportunities
  • Content syndication
  • Outsourcing SDRs

Check out these resources we mentioned during the podcast:

For the entire interview, you can listen to The B2B Revenue Executive Experience.


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You're listening to the BDB revenue executive experience, a podcast dedicated to helping executives train their sales and marketing teams to optimize growth. Whether you're looking for techniques and strategies or tools and resources, you've come to the right place. Let's accelerate your growth in three, two, one. Welcome everyone to the B Tob Revenue Executive Experience. I'm your host, Chad Sanderson. Today we're talking about BEDB in public sector, lead generation, the INS and outs of content syndication, Ai for outbounding and whether or not you should outsource your SCR team. A lot of topics, a lot of information for you today to help us. We have with this Mike Farrell, CEO of green leads. Michael, thank you so much for taking time and welcome to the show. Hey, thanks, Chad. It's good to be here. So, before we jump in, we always like to ask something to get a get the audience chance to know you a little bit better. And then one I kind of default too, is understanding something you're really passionate about. The people that maybe only know you through the work world might be surprised to learn about you. Oh Gosh, I'm pretty. I'm a pretty boring guy, but no, I I'm a I'm a big baseball fans. So I drive my wife crazy because I so I do at the end of the day is watch a game at night. So that's something you've done your entire life, something from child. Oh yeah, yeah, yeah, yeah, just played baseball and always, always a fan. So other sports to but baseball's number one. Okay, excellent. So let's jump into bble Gen. so I'm curious, you know, that's a very specific focus and not a lot of people like actually doing it. They would love it if leads just show up on their plate. Curiously, how this became a topic of interest for you and what it is about it you find so enjoyable. Good question. I spend my first twenty years in the in the computer reseller channel and then got into the legend business about eighteen years ago, and you get to work with a you know, for us we get to work with a lot of technology companies, companies that you know, I'm familiar with, work with my first twenty years of my career. So it's exciting to help people grow their business, grow their pipeline. So it's it's enjoyable from that stingpoint. Excellent. And so when we talk about this, when talk about lead Gen, a lot of people will separate out be tob versus BDC versus public sector. I'm curious from your perspective, what are the big differences between be tob and public sector lead generation specifically that listener should be aware of. Great Question. I have a public sector background from again my first half of my career. You know, selling into federals, stay in local education accounts, even hospitals. So the differences there. You know, a lot of times there's different language, clearly and...

...government. There's a lot of acronyms. You got to know the alphabet soup of the of the federal government and state and local government. There's there's contract regulations and so forth. You got to you have to understand even when you're doing out on if you're trying to set appointments or generate leads, you still have to understand that. So you have to know the language. Have to change. I train up all my folks and you know, if you're calling into the federal government and you're talking to a military person, you don't call them Mr Smith, you call them colonel or lieutenant or whatever. Their rank is. So something as simple as that, you could lose a lot of credibility if you do it wrong. So you have to know the lingo, you have to know the market and if you refer to the public sector as a company, right, that's not that's not a good thing. I don't think every Kindlin. Yeah, they you know that. You have to understand the public sector. They have a different mission. Their public servants. They have a mission to whether it's a state agency or federal agency, or it's a college university there, they have a different mission. So you have to you know that their business goals, business and quotes, right, are different. Right. So you just have to understand that when you're going after working in the public sector space. Firstus the BAB space. Okay. And so when we think about handle, there's a big push for people. You're talking about AI and lead generation and how I can do you know, I can scan all bunch of stuff and come up with some truly personalized content and in some cases some people believe it's difficult to tell a difference between that and a regular human being. I mean maybe an email, but every time the Robo dialer starts talking to me on the phone. I know I'm talking to that isn't human, but but it is an emerging side of the of the equation, and I'm curious when you work with companies, how do you help them understand the importance of all the risks associated with and or the optimal way to leverage ai in terms of the generation? It's great. I just had to two client calls this morning talking about our intent platform that we use to really cultivate and harvest intent leads. With this technology you can basically find people that are putting a digital signal out there that they're somewhere in the buyers journey. We don't know where. Do we have a conversation, but you know they're showing interest in particular topic and it just instead of having a cold list of accounts and personas to go after and make phone calls to and emails to, you can boil that down to you see, you can prioritize some. Hey this twenty percent is showing a digital signal of some sort. That's the AI, the machine learning that the intent can can provide us, and it really you still going to get that person on the phone and have a conversation with...

...them and they're not branded yet with the clients messaging or anything, but you know that it's probably more of a better conversation for for you to get the appointment as well as for the young client to have that meeting and try to advance it into pipeline. Okay, and there's a big I mean the the privacy aspect perhaps this big, big thing right started GDP are and now we got consumer privacy and Protection Act in California. There's a big one in Canada. Each of the states are a lot of the states have privacy legislature on their books. That's going to make it a little bit more challenging, I think, for people that get creative when it comes to lead Gen and then not to mention Google's announcement that they're phasing out cookies and the and the explosion we're seeing in the customer data platform solution space. And I'm curious what impact do you see all the privacy stuff and then the and the fact that a lot of companies, if they implement a customer data platform or CDP, will actually have their own data rather than aggregating it from, you know, third parties. What kind of impact do you see that having moving forward? Wow, I think it's going to certainly will have a impact that. I think, you know, it's something everyone's going to plan for. You know, talking to people in the industry and over cruder friend of mine in the space, and the STR betr, whatever acronym people use for the is just that category of employee, whether it's in for an outsource firm or for, you know, direct hire, is exploding. Never seen this kind of demand for this, this outbound person before and we have been doing this for eighteen years in this outsource space. So I think that's just going to increase even more because you have to rely on the str bedr to really drive those customer engagements. Have a firm believer and driving in bound inbound demands to your website and downloading content that way. So that's also another thing that everyone should be doing to plan for this. But I think it's a it's going to be accelerate the inbound and the outbound aspect. The outbound aspect, you know, more so in terms of the calling and help on emailing. Okay, and you know when we talk about, you know, the largest houses, so much going on. I mean, find a good talent. The date of the privacy the you know the belief that to people it's hard harder for people to connect these days, although I haven't seen that statistically, but there's this belief in that. If you had to narrow it down and say, Hey, this company, you know, company a, this is the largest challenge. You really need to keep your eye on the ball about to ensure your organization or team is the effective at prospecting and outbounding. What would that be?...

Help us kind of makes sense of the noise? Well, so many mistakes, I see. Start with, it really starts with the lists. Right, what's your ideal customer profile? All right, how to get that list of it kinds? And then you know what are those right personas in startups a lot of times don't know right there. You don't know. You don't know until you start talking to people and when you have a new category of product you put pitching. But but even for mature companies it's all about the prospect list, the accounts as well as the personas you know, because it's whether you're generating top of the funnel leads or you're making out phone, phone calls to to get an appointment or to promote promote an event or something like that. You have to have the right email address, the right phone and information. The people are getting accustomed to getting in this covid world, to getting called in their cell phone for be tob calls. You still get a yeah, every once in a while I get a resistance from it, but you know, it's pretty it's pretty much. People are used to it now. So that data, that contact data is, is really what it comes because it will drive the conversation. I we measure, one of the Kpis we measure is two conversations. How many dials it takes to get a conversation right, and that will differ for the persona right in the level of that person, the level of that persona, and it will differ in certain industries too. But the number of dials takes the conversation that drives the efficiency of any kind of outbound effort in terms of a calling effort, versus an out about emailing effort. But you know, with email it's the the open rates and in those kind of things. But the data is you got to spend time with the data. If just you can't half as it the data. It's I'm the comparison I always make is you know a lot of teams will tell us when we're training them, you know, hey, I don't have good data, I don't have a good day. I was like, yeah, you know what, I ride a Harley Davidson and nobody puts gas on my bike but me. And so if I'm if I'm going to be responsible for the gas and the engine, which is the data. If you're prospecting, perhaps maybe we should take some ownership. And it is the key. It is the key to a lot of it. So I appreciate that. Appreciate that synopsis. So let's kind of a shift here a little bit. When we're also talk about, you know, content syndication and for the audience, I was like to start a little bit macro. How about a definition for content syndication? What it means to you? A lot of people will give us different things, so love to hear your perspective on that. Sure the way we approach it, we're are outbound contents indication business, which is half of our business, is persona base to again, what's your ideal customer profile? where the personage are going after? Will build that audience, will...

...engage audience via email and drive them to a landing page to with your content and you know there has to be some kind of compelling content, Ebook, White Paper, recorded Webinar, you know, on demand Webin are, something that's compelling, right, and some kind of messaging that is going to peak their interests. And when they download that piece of content, maybe it's just a download with the contact information, maybe it's hql is a is going to ask a few questions, few custom questions that can help you in the sales process. But it's still a top of the funnel lead. It's not sales ready, but they're opting in to be in contacted by you because you gave them some piece of content that they they found value it. Okay, and so let's talk about, you know, the content syndication and the value that you provide. If that's got to change by the persona right. So how how much work would you do you recommend, or how much time do you recommend that an organization put into creating that for the personas? Or is that something the SDRs should do so they're more familiar with the personas, or is that reside marketing? What kind of what's your thought process on the optimal implementation for contents and syndication strategy. The content absolutely has to be done by marketing. In marketing can marketing can engage agencies to help them develop content as well. They don't have to have the insight, you know, talent and a whole surprize winning you know, right, right, writer. But yes, bedrs strs can be a curator of their own content. Maybe it's, you know, public available content or there. You know, they're obviously and trying to get drive some engagement by, you know, in their in their outbound cadence some way. So you have to add value or find a trigger that's personalized to that persona to get them to pay attention to you. So obviously video with vigard and loom and other applications. I'm getting a lot of I'm getting a lot of those that kind of little video snippets, video prospecting. Yeah, in an email now, and that can be valuable and that that can be more driven individually by by the SDR be. You are right. So, and it doesn't have to. You know, I think that kind of authentic. You know, everyone's used to video and on their iphone now. So you know that a little authentic snippet and it doesn't have to be professionally done. But I think if you know white papers, Ebooks, case studies, you know Webinars, that's all going to be driven by marketing. You know the the higher level, the higher level content. Marketing has to own it and they have to be collaborating with the sales leadership and make sure they're on point with what the clients are, prospects are looking to hear from right what's going to deliver value to them. Excellent. And so when all...

...right, when we put all this together, when should a company think about outsourcing their str teams? What? When does that make the most sense for an organization? Is Does it different by age, by size? help us understand that a little bit. There's kind of two two methodologies. We have both an outsource str model and a pay per appointment model. The paper appointment model is really reserve for more mature companies with with some kind of brand recognition there in the adoption curve and it's just scale right speed, scale, feeding that sales team as much pipeline oportunities you can. And if they've obviously invested a huge amount of money into a large sales team and you just gotta it's a combination of of you know, the top of the funnel lead nurture process takes a little time, but you so you gotta use multiple channels in that that appointment generation is going to be a quicker way to get sales appointments. But the startups is where we we really focus on our outsourced St are where, you know, we'll give a you know, sign up an FTE, a full time equivalent person. We typically do two halftime people, you know, at a month as a hundred sixty hours. So you pick a give it. Give someone eighty hours of two people and that's you know, could be when someone's just got seed funding or A and B round of funding in the text space. That's a typical time where they have to do that. And we and we coexists with some companies when you get to see round D runny runner or greater. We coexist with an outbound appointments setting appointment generation effort with, you know, major public companies that have largest ther teams as well. So it's you know it there's no wrong time to do it. In that early stage, that early stage company. You're really helping them. Yeah, you want to generate some appointments, so you get some pipeline, but a lot of times the goal is to really learn about your your target account and see if you have a you know, the VC's called. What do you have a product market fit? Do you have a you know, is your product viable to go from a round to B round of funding? You know, and you got to be able to tell that's you know, the leadership of the companies, CEO, CR CMOC are. So so there cro whatever the title is. You got to be able to tell that story to the investors. Right. Oh Yeah, we had this call. This is is isn't pipeline. This is why it's working or it's not. You know it's not working. You know, we got to read, go back and kind of reinvent yourself and reinvent do some tweak to the product or what so. So it really can be helpful for the early stage company in that regard. But you have to have the right expectations and right you know, you got to understand where you are right. You know, you start up companies.

If you're not in the adoption curve yet, you got to understand your your evangelical. You're trying to define a category. Sure, absolutely all right. So how about for on ins an overview of green leads and how you found yourself there. Sure, so greenly. Just start in two thousand and seven. The the two founders are good friends of mine. Linda's and I would work together for for different companies, and Mike I have done since college, and they actually, we're both worked for me at my prior company and and after I left that company after fifteen years, I had a little sabbatical and then I and connected with them for lunch and here I am. They want me to come on board and lead the ship. So but Green Lads, we do, as we just talked about, the SDR outsource SDR model for startups and we also have that appointment generation at a per appointment basis for more mature companies. And part of our business that's growing quite a bit right now is the contents indication business. We do that globally. The appointment generation we do in US and Europe. We have staff in both locations, and the contents indication we do globally. You know, through email. You know email mechanism, and then another piece that's grown quite a bit as the event registration. We can do that via email. Marketing is but we also have a telemarketing operation in the Caribbean and South America. So near shore, low cost way to deliver those leads at a competitive price without going to either India or the Philippines, which a lot of other folks will do. So so it's about fifty percent of our businesses the legion contents indication. The other fifty percent is the SD air business. Awesome, all right. So let's Change Direction here a little bit. We ask all of our guests two standard questions towards the end of each interview. The first is simply, as a CEEO, that makes your prospect for a lot of people out there selling stuff, and you know you're in the business of prospects. Are Really curious to hear answer to this. When somebody doesn't have a trusted referral into you, somebody that you trusts to say you should talk to this person. What works for you and somebody's trying to capture your attention and earn the right to time on your calendar. The fails, there's lots of fails out there. You know, I guess I get you. Know. Yeah, how many fifty emails a day with people prospecting you and the fails are. I still get a long email and it's talking about them. Right, the first sentence out of the in the email is talking about them. They haven't established any connection with me, with what my business needs are. Right. It's kind of equate that to a facetoface or phone call rep you know, throwing up and show showing up and throwing it right. So it's a email version of it. So there's a lot of you know, a lot of mistakes from that standpoint.

But I would say if you do a little personalization, find something that maybe topical and you know, Look, I get great here. Don't say, Oh, we went to college together, you know, we went to the same college. Well, you know, that doesn't not that I'm you know, I like my old college, but it's been a long time right. So so you have to find something relevant to the moment. So I think subject line, with that kind of personalization, will catch someone's attention and you'll get the opportunity to get ten or fifteen seconds of someone's ability to read the first paragraph of what you wrote and without hitting the leap button. You know, I love it all right. Last question. We call it our acceleration insight. There's one thing you could tell sales and marketing professionals just one piece of advice that you could give them you believe would help them hit or exceed their targets. What would it be and why? Know your metrics. Know your metrics. It's a numbers game. So if you're in the str world, that's how many dials has take to get a conversation, which your conversion from conversation to an appointment and from a quota carrying salesperson. You again, no, no, your metrics. How you advancing things from each stage of the pipeline? What are your percentages? You know why? What's going to be the triggers that advanced those things? And this you know, skill. You get some people that are there's highly skilled and they're going to they may not have to watch the metrics, but that's a ten percent right. The other ninety percent you really have to know your metrics and so you can keep on track and don't ever fall behind. And you so many times you see in sales someone that they close a lot of business at the end of the quarter and they're like, who you know? Yeah, it may made my number for the quarter and they look at the Review Mirror and they got an empty pipeline right, you know, because they just they just drained it and they didn't invest along the way and keeping the pipeline full right, and that's hard to do as one of the reasons why the St are bedr function has grown significantly over the past fifteen years. Absolutely yeah, and it's it is one of the conundrums for for sales reps. but hopefully with the increase in strs in there and their effectiveness with that, that will solve the problem. So, Michael, can't thank you enough for being on the show. Where would you like assist people that are interested and learn more about you? Or Green leads, or discussing some of the topics we've touched on today? Sure, my email is Mike Dot Ferrell. It's FA R R Lll at Green Leadscom. Will Ferrell spells his name wrong, so it's FA rr Yellow and green leads is www dot green leadscom. Excellent, excellent. Can't thank you enough for being on the show. It's been an absolute pleasure. All Right, Chad, appreciate it. All right, everybody that does of this...

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