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Challenges in Targeting Malaysia and What To Do About It

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Asia is one gigantic market for internet users and has huge potentials for running business to business lead generation campaigns. With Singapore’s strong, limitless internet connection, and the Philippine’s reputation as one of the fastest growing number of internet savvies in the continent, Malaysia now shares a part of pie.

But how far has lead generation gone in the Malaysia market? How do Malaysian businesses perceive or behave towards lead generation as part of their marketing strategies?

Let’s probe.

1. Conservatism

Chinese, Indian, Eurasian and indigenous cultures comprise the Malaysian society. This racial fusion clearly shows how these people embrace change and explore diverse experiences as shown by its advancing technologies and booming economy which is well represented by its famous landmark – The Petronas Twin Towers.

However, despite the notable growth of Malaysia’s economy, its people have kept a percentage of conservatism that depicts their stance on Lead Generation.

How do we address this?

“Send me the information first and I will take a look at it”, is the usual answer that you will hear from a prospect during a lead generation call. Normally, 9 – 15% of a total number of acquired positive contacts requests more information first before agreeing with a follow-up call. Once these prospects have received and read the information, there is a higher chance that they will agree with a call.

2. Meticulousness

Relative to their conservative attitude towards engaging with new processes is their meticulousness in process implementation. Singapore businesses may just be as meticulous but are more flexible in adapting new business ideas and much familiar with B2B marketing strategies as compared to those in Malaysia.

How do we overcome this?

Aside from presenting a simple calling spiel, deliver a clearer view of your product and services to your prospect via email. It is also best to do knowledge checking with them during your follow up call, to be certain that they fully understand your product or service offering.

3. Business English Skills

Spontaneity is quite a challenge among Malaysian executives especially for small and medium businesses. Thoughts and words are sometimes atypically expressed for both spoken and written English which at some point may cause delay in completing the lead generation process.

How do we cope with the challenge?

The calling agent should adjust in his communication pace or speed and the choice of words. The same applies with email collateral – words and idea construction should be comprehensive, direct to the point and simple.

The subjects mentioned above may sway the lead generation process at some point, but let’s look at the bigger picture – Malaysia is fast becoming a highly industrialized region in Asia and a good risk for a lead generation campaign.

Malaysia IT Industry Watch: Cloudy with a Chance of Success

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At the moment, it is difficult to predict exactly the way the global IT industry is heading. Analysts see persistent up and down trends in the demand for certain business solutions, creating a highly volatile climate based mostly on the rules of “chance.”

One thing is certain however: There are a lot of opportunities to leverage. It is just a matter of identifying them and knowing how to realize effective results from them.

In Malaysia, where the local IT market is regarded as a high-growth sector, entrepreneurs should know by now that they are in a good position to maximize their resources to attain better sales numbers. This is attested by the fact that the Malaysian IT market is currently worth around $10 billion with an average growth rate of around 7.1% until 2019, according to a BMI Research study. This implies that there is a strong demand for certain services and products as well as an increase in spending for most enterprise level solutions.

Right now, the growth of the Malaysian IT market depends heavily on three different technology drivers:

Mobile and cloud computing. In a 2012 article published in ZDNet, enterprises in Malaysia continue to invest in technology despite challenges brought on by global financial difficulties. Even until now, businesses are investing heavily in utilizing cost-effective innovations led by cloud computing and mobile optimization. The downside however is that the increased demand for cloud services has indicated an observable decline in data performance, implying a need for skilled manpower as well as better security solutions. Nonetheless, forward-thinking IT vendors can attain the best numbers for their cloud and mobile computing products once they get to bypass the initial challenges presented by data deluge.

Hardware. Hardware spending will also see a significant long run increase. This comes as Malaysian enterprises have noted consistent increases in their income generation as well as a reduction in connectivity costs. We can see then that these companies are highly capable of investing in hardware upgrades that will get them to attain optimal business efficiency.

Security. We cannot discount security from the list of highly important enterprise-level IT solutions. IT security is still as important as ever, and as businesses handle an increasing volume of data, they profess a crucial need for effective software and hardware notably in the areas of business continuity and disaster recovery. IT Business Edge has even noted that cybersecurity will be a top area for increased IT spending in 2015, so it will be a no-brainer for Malaysian entrepreneurs to invest in that area.

Competition with the IT industry can be challenging. In order to get ahead, IT firms should invest in IT lead generation and appointment setting.

Better Lead Generation Through Better Content Marketing

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Let us put it this way – content will always be king. This is especially true where lead generation is involved. I mean, if you do not have a compelling, informative, as well as attractive content, you will not be able to attract enough prospective sales leads. That is why creating the best content should be part of your lead generation efforts. Now here lies the challenge: how will you create better content? Here is how to start:

  1. Analyze data – by now, you might have collected sufficient information about your audience. From the data you have obtained, you can probably come up with a content strategy that will maximize impact, as well as ease up your appointment setting efforts.
  2. Analyze the competition – looking beyond the confines of your business (basically, checking your competition) will help you determine what kind of audience they have and if they have blind spots that you can enter. Creating a niche market out of your competition’s general audience can give you a better business edge.
  3. Analyze value – be it in your competition’s or your own, you need to know how your audience values the content you share. A lackluster interaction might be an indication of poor content creation. Once you realize that, you can then proceed in formulating a proper marketing plan.
  4. Analyze your promotions – be it through social media, blogging, email, or even telemarketing, you need to analyze whether the content you share reaches the right audience in the right manner. You might want to use certain metrics like conversion ratios and the like for that.

Ultimately, better content marketing can certainly bring you better results in your lead generation efforts.

Lead Generation Lessons From The MySpace Comeback

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While MySpace may not have the same social networking power of Facebook, the mere fact that it still around (since 2003) does still give one some thought. Even after its near disaster under the hands of News Corporation, MySpace is still trying to get on its feet under Justin Timberlake. So what can we learn from the mistakes of the former social network giant? Can it be applied to our own business? How will it help improve our B2B leads efforts?

Effective innovation – this was a point that MySpace did wrong. Sure, it did a lot of changes in its site, but it all pretty much offended current users. Also, with all the changes being made, the management failed to consider its impact on users. This is a bad business move, one that your own company should avoid when trying to shore up your sales leads.

Playing on strengths – News Corp wanted MySpace to be another news and commercial channel for its business, an aspect that the site’s current users dislike. MySpace is young, hip, and vibrant. These strengths were ignored by top management. That can happen to your lead generation efforts as well – if you fail to play on your strengths.

Security – this was a real weakness. Considering the number of problems that hounded MySpace, especially in privacy, protection of children, fraud, etc. it is only expected that its users would migrate to the competition. You have to prove your business is stable, or else your appointment setting efforts would be weakened.

What more can you add in the list?

The Danger Of Big Data In Lead Generation

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John Hagerty, founder of advertising giant BBH, is not a man who minces his words. And he surely riled up a lot of people last March when he expressed his disdain for big data in marketing. He explained, “It’s because I’ve spent my life dealing with people who’ve got all the data in the world and yet they can’t invent anything.” This is something that should be heeded by those involved in b2b lead generation. While they may claim that big data, precision marketing, and targeted audiences can bring in the much-desired sales leads, actual experience shows just how messed up the results can be.

It seems like big data is no use at all.

The poster child for this would be Facebook, the juggernaut of big data marketing. No matter how much data they used to precisely target their audience, Facebook ads are really performing badly. Come to think of it, how many mainstream companies have advertised in this social media site and earned big-time sales or B2B leads? Not that many. One might as well go back to telemarketing, since it seems to get much better results.

Problem here is pretty much the use of big data. In the marketing world’s attempt to be more measurable, more precise, more numbers-based, and more elaborate, in their appointment setting efforts, they lose the most basic element in getting their message across the audience – the human factor.

Ignoring the power of genuine human connection and concentrating more on numbers is the one most damaging effect to your lead generation efforts.

Keeping Sales Leads Through Stellar Customer Experience

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Generating qualified sales leads is hard work – there is no doubt about it. So it is only natural that you would want to find ways to keep the ones you have. And how will you do that? It all lies with your customer service. Yes, a successful lead generation campaign also depends on the quality of customer service you have provided to your current and past clients. If you want to get your B2B leads back, or find new ones through referrals, then you need to take a good look at the way you treat your customers and clients.

  1. Being user-friendly – be it on the web or at your company’s doorsteps, how do you present your business to your clients? Is it easy enough for them to access, or do they have to navigate too much all the way to their intended page?
  2. Accessibility and approachability – what kind of ambiance or image do you project to your customers? Is this what you want them to see? Do your employees treat your customers exactly as you envision it to be?
  3. Presentation – in all customer and client interactions, how do you and your telemarketing team talk? How do you dress up or present yourselves? Are you approachable, informative, or professional? What kind of personal image are you trying to create?
  4. Following-up – once your appointment setting team has found prospects, are you following up on them, or just sitting back and wait for them to call? A little aggressive marketing can do mean a great deal.

Providing an excellent customer service is crucial in keeping sales leads that you worked so hard to gain.

Thinking Strategically In Lead Generation

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Handling a small scale business can be a challenge for entrepreneurs like you. It will not be surprising if you juggle between manager, accountant, promoter, travel agent, and auditor all at the same time. It does make you wonder if you still need to add strategist for lead generation. But that is the one thing you should never do without. Companies that lack a strategic approach in management weaken their ability to generate B2B leads. This, in turn, makes it harder for them to find additional sales leads that could keep their business afloat. So, how does one think strategically?

  1. Do not assume that the current thinking is correct – there is such a thing as market evolution. Yes, your appointment setting process may work, but it may not be effective today. You might have to reexamine your current strategy.
  2. Be ready to explore – even if you reach a dead end, you must be ready to explore all avenues in business. If it means adopting a different communication medium (like telemarketing) or tap a different market, you should do so.
  3. Have a little confidence – strategic thinking requires that you look into the unknown. You will not reach anything if your insecurity prevents you from taking the first step.
  4. You are always faced with choices – you always have to make a choice in actions. Strategic thinking is never a straight path. You have to constantly make the right decisions.

All these play a key role in strategic planning for your lead generation campaign.

The Most Credible Phrase In Lead Generation: I Don’t Know

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Yes, a lot of telemarketing representatives and sales managers will cringe at the thought of saying those words, and for a good reason. They are trained and focused on being the experts in a particular business, where their words will convince their potential sales leads that they can be trusted. Saying, or admitting, that they do not know the answer to a question is a bad sign, one that can ruin the success of a lead generation campaign. But that is not always the case.

The first thing that you have to remember is that no one is perfect. No matter how much you study or prepare yourself before an appointment setting call, there will always be a case where you may not be able to answer a question. It may sound counter-intuitive to admit that you do not know the answer, but actually, it can work the other way around.

A lot of business prospects are tired of hearing marketers and sellers claiming that they have all the answers to their current business woes. So it can be a refreshing change to hear someone admit that they do not know something, perhaps along the lines of how a prospect’s business operates. This creates an opening for you to know more about the prospect. Ask them how they go about their business, learn from their demonstration, check all the facts, and look deeper into their problems. Only then will you be able to come up with a winning solution.

That is the winning strategy in gaining more B2B leads for your business.

3 Branding Mistakes In Lead Generation

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Branding practically means everything in business. This is the face and soul of your company. Your brand will also influence your effectiveness in lead generation campaigns. It is the first thing that prospective B2B leads will hear from you, and it has to be one that will stick to their minds the most. Of course, in the quest for creating memorable brands, many entrepreneurs often make the mistake of producing catchy names. Later, these turn out to be huge headaches, reducing their ability to effectively generate sales leads from the market. You should not make the same mistake. So, how should you go about it?

  1. Research – you might have come up with a catchy brand, but you may not be the first one. To avoid legal, and costly, arguments with rights owners, you should research the existence of the name. Check the internet or the patent office; see if your brand name is there already.
  2. Applicability – some entrepreneurs create brands that work well in only a small area. If you have plans of expanding, or using broad marketing mediums like telemarketing, it is best that you create a brand that anyone will understand or remember better.
  3. Relatedness – this part may be a bit tricky, but the rule of thumb here is to use a brand that is related to your business. If you insist on doing different, then fine, go ahead, you got nothing to lose. But you have to make sure you can connect your brand to your business properly come appointment setting time.

Simple enough, right? But these are sure to help you avoid lead generation troubles associated with branding.

 

Lead Generation In the Post-Internet World

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The Internet has totally changed the way we do business nowadays. Now, we can reach out the most number of business prospects, increasing our chances of generating B2B lead, in a manner that is not available to us from five or ten years ago. This is a great opportunity for your B2B lead generation campaigns, helping us convey more information to those interested. Of course, along with the ready availability details, there is the risk of what we call the ‘tyranny of choice’. What is that and how will you deal with it?

The tyranny of choice, as psychologists call it, is a condition where customers have so many alternatives to choose from that they practically cannot make a choice any more. Give the numerous products and services offered by a lot of marketers during their appointment setting campaigns, it is only natural that business prospects will have a hard time choosing which to buy or sign up for. This impairment can have a serious impact on your generation of sales leads. Of course, this can also have a positive outcome for your campaign as well.

It all depends on your ability to best represent your brand. People, especially the busy ones, tend to have too little time to analyze the products or services that their business will need. For them, it would be more cost effective if a seller can more as an information source, and help them make the right decision. At this point, it is also important to remember that sales leads are not everything. You need to establish a relationship with them.

 

Generating B2B Leads? You Ought To Delight And Entertain

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While some pundits will say that this is just what selling is all about, I would like to point out the fact that there is a difference between selling and selling right. Selling is just that, selling. There is no concern on whether you want to generate qualified sales leads or not. You can lie, deceive or misinform, just to get results. Of course, if you want to be effective, you need to be honest and factual. Now this is where the problem with B2B lead generation comes in. You ought to show your business prospects the facts, but number and figures alone will not get you those B2B leads at all. You need to take care of presentation as well. And this is how you do it:

  1. Surprise them – give them an ‘Aha!’ moment. Give them a familiar situation, but one where your insight is fresh and innovative. That can help your B2B telemarketing team.
  2. Tell them a story – stories can be an incredible way to keep their attention. A well-paced narrative will keep your prospects spell-bound until the last chapter of your presentation. Pepper it with trivia and other relevant facts that they can use.
  3. Make it fun – this will also liven up the conversation, as well as help grease the wheels of your appointment setting process. This can aid you greatly in relationship-building.

There are other tactics that you can use to delight your prospects, but these three would be a good place to start. You can succeed in your lead generation campaign better this way.

In Lead Generation, Honesty Is Still The Best Policy

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What is the secret to a successful B2B lead generation campaign? Well, it actually depends on so many factors. But what is safe to say is that, among these factors, the most basic and most important point will still be in terms of honesty. Really, there is nothing more detrimental to the image of your company than to be accused of dishonesty and underhanded business practices. Once that happens, it can take forever to get it back. So, if you want to continue generating qualified B2B leads, you need to understand what exactly you should do to ensure honesty and reliability in your business dealings.

First of all, learn to cut on the flashiness. To start with, the usual reason some marketers use flashy or sexy terms on their promotions is because they products or services they offer is not really that good. Use hard facts and verifiable proof. That will get your appointment setting team further in the quest for more sales leads. It would also help if you can present a working prototype to your prospects. In this way, they can tell whether you are telling them the truth or not. Another point you should consider is with regards to the actual needs of your prospects. Even if you have a truly revolutionary idea, if it shows that the market does not respond to it, then it is time for you to stand back and do things differently.

That will help your B2B telemarketing team do their job easier. As long as you are honest enough, your prospects will trust you.