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Lee Marc Stein Lee Marc Stein   Bio
05.16.06

Stealing Second Base

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One of my favorite quotes for years has been >"you can't steal second base with one foot on first" ....

Too many executives and managers trying to create demand in the form of qualified leads don't understand the risk involved in keeping their feet on first base; they see only the risk of stealing second.

Here's an example. The marketer sells a particular technology for a relatively few industries and for only really big companies within those industries. The true universe here could be 25,000 prospects, tops -- and it's more likely 5,000.

The company thinks that the safest thing to do to create demand for its sales force is to send out an e-mail blast. After all - other than the list cost (and they're intending to use one that doesn't cost very much), their financial exposure is limited. They aren't evaluating the risk of depending on e-mail going to IT managers who are besieged with it.

The company believes that the next safest thing to do is to send a direct mail letter with a response form. After all, studies have shown that a letter in a plain #10 envelope can draw a 1% response. It is possible that this approach will generate a few leads, but the great risk is that even a personalized letter, no matter how well written, will get lost in the clutter.

"We can test a few thousand and not get hurt too badly," management thinks. Of course, 1% of 2,000 translates to 20 not-yet-qualified leads. Meanwhile, the company's talented sales people are sitting without any qualified leads - not quite a safe situation.

What constitutes a real attempt to "steal second"?

Realizing that in many business-to-business situations, neither e-mail nor a letter are going to get through… and risking a strategy that utilizes a dimensional package, along with e-mail and structured/properly timed telemarketing. The cost of reaching and communicating with the prospect may be 10 times that of mailing a flat letter. The response level may also be 10 times higher. The average sale in this situation is worth some $40,000. Worth the risk? You tell me.

Contrast the technology company with a mailing house on Long Island whose principals stole second base, then scored. They narrowed their list, and sent a dimensional package including a strong sales letter, a clock, and useful postage information. Follow up phone calls yielded four appointments for every 10 packages mailed.



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Comments

Lee is so absolutely on target with his concept of using dimensional items to get through to prospects "Stealing Second Base".
Years ago I developed a program designed to open doors to sell Sikorsky helicopters...a $3 million product. And a limited target audience of multiple decision makers at companies we targeted...the Fortune 500 including at those companies - the CEO, the CFO, and the Flight Department. All had to be sold on various aspects. How to get through.
We used multiple mailings with different appeals. One was a helicopter model with the company's logo painted on accompanied by a super high quality brochure and a personal letter from Sikorsky's president.
Another mailing was a countdown timer with the brochure and a clear plastic map overlay with a series of range rings to help the recipient figure out the time savings a helicopter would provide.
There were 4 dimensional mailings to 3 individuals per company.
The result? A warm and friendly open door for Sikorsky salesmen referencing the clever gadgets we had sent.
And the sale of two helicopters! Talk about ROI.

Posted by: George Blumberg | 05.18.06

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