Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues - Part 1

Finish 2011 Strong Six Funnel Focal Points to Maximize Time, Resources and , Revenues – Part I

B2B Lead Roundtable 1. You will receive a link to the webinar recording. Please fill out the post‐webinar survey 2. View past and sign up for future webinars • B2BL dBl B2BLeadBlog.com/webinars / bi 3. Join the B2B Lead Roundtable LinkedIn g p group • B2BLeadBlog.com/Linkedin 4. Connect and share • B2BLeadBlog.com • Twitter @B2BLeadBlog 2#b2blead

Poll What are your top B2B marketing challenges right now? a) Marketing to a lengthening sales cycle b) Generating perceived value in “cutting edge” product benefits c) Generating public relations “buzz” Generating public relations “buzz” d) Generating high quality leads e) Generating a high volume of leads 3#b2blead

Poll What are your top B2B marketing challenges right now? a) Marketing to a lengthening sales cycle 10% b) Generating perceived value in product benefits 15% c) Generating public relations “buzz” Generating public relations “buzz” 3% d) Generating high quality leads 52% e) Generating a high volume of leads 19% 4#b2blead

Top B2B marketing challenges 69% Generating high quality leads 78% 35% Generating a high volume of leads 44% 2009 2010 39% Marketing to a lengthening sales cycle 41% Generating perceived value in “cutting 37% edge” product benefits 37% 33% Generating public relations “buzz” 36% Competing in lead generation across 27% multiple media 36% Marketing to a growing number of g g g 33% people involved in the buying process 34% Source: MarketingSherpa B2B Marketing Benchmark Survey gy g , Methodology: Fielded Aug 2010, N=935#b2blead

Poll How long is your sales cycle? From first inquiry to purchase. a) Less than a month b) 1‐3 months c) 4‐6 4 6 months d) 7‐12 months e) More than 1 year 6#b2blead

Poll How long is your sales cycle? From first inquiry to purchase. a) Less than a month 12% b) 1‐3 months 26% c) 4‐6 4 6 months 26% d) 7‐12 months 23% e) More than 1 year 13% 7#b2blead

Lengthening sales cycles More than 1 Less than 1 year month 10% 10% 7 – 12 months 1 ‐ 3 months 26% 30% 4 – 6 months 24% Source: MarketingSherpa B2B Marketing Benchmark Survey gy g , Methodology: Fielded Aug 2010, N=935#b2blead

September is one week away How can we maximize the resources we have to achieve our end of year goals within budget and time constraints? end‐of‐year goals within budget and time constraints? 9#b2blead

About MECLABS • More than 10 years of research • Over 1 billion emails • 1,300 major experiments • 10,000 sales‐paths tested • Hundreds of publications and conferences • 5 million phone calls • 500,000 conversations 10#b2blead

About Brian Carroll Brian Carroll is Executive Director of Applied Research at MECLABS. Brian is also co‐founder of InTouch (now part of the MECLABS Leads Group), a B2B marketing firm and one of the first companies to provide lead generation services for the complex sale. Author of the popular book, Lead Generation for the Complex Sale Author of the popular book Lead Generation for the Complex Sale (McGraw‐Hill), Carroll is a leading expert in lead generation and hes @brianjcarroll profiled and regularly quoted in numerous publications. Brian also speaks to 20,000 people a year on improving sales effectiveness and lead generation strategies. lead generation strategies He’s been profiled and regularly quoted in numerous publications such as BtoB Magazine, Selling Power, The Wall Street Journal, Entrepreneur, Target Marketing, Inc. magazine, Marketing News, DM News, MarketingProfs, MarketingSherpa, Software CEO and CMO Magazine. 11#b2blead

About Pamela Markey Pamela Markey is the Director of Marketing at MECLABS. Pamela builds strategic partnerships, plans promotional initiatives, and is responsible for Applied Research communication‐ and marketing‐related activities. Her first role at MECLABS was developing MarketingExperiments case studies and Webclinics, and she continues to support the Conversion case studies and Webclinics and she continues to support the Conversion and Leads group teams on special client research projects. @pamelamarkey Before joining the team in June 2009, Pamela worked for seven years as a wireless marketing manager at Bell Canada, during which time she managed campaigns for the Solo Mobile and Bell Mobility brands. Pamela’s work has been recognized at Cannes, the CLIOs, and the Canadian Marketing Awards among others. She started her career as a marketing intern at Microsoft while completing her Bachelor of Commerce degree at intern at Microsoft while completing her Bachelor of Commerce degree at Dalhousie University. 12#b2blead

Clarify channel message Optimize list approach p pp Re‐engage your base Tune data streams Time it right Close the loop 13#b2blead

Which B2B search ad would you click? Why? data centers Search CalPOP Data Center CalPOP Data Center Next‐Gen Data Center Next‐Gen Data Center $88 Unmetered bandwidth data center 100% Uptime, SAS 70 Audited Greenfield 24hr on‐site support ‐ 100% uptime Data Center. Tour Online calpop.com www.DataFoundry.com Dedicated Web Servers Qwest® Data Services Secure, World‐Class Data Centers, Customized data center for medium pp Fanatical Support™ & 0% Downtime! to large business. www.Rackspace.com/Data‐Centers www.Qwest.com/Business Terremark: Industry Leader E Solutions Data Centers World Class Hosting Solutions. Great Deals & Service Tier 3 SAS 70 Live Chat with a Specialist Today! 813‐301‐2600 Move in Today 24/7/365 www.terremark.com www.esnet.com 15#b2blead

Experiment: Background Experiment ID: (Protected) Location: MECLABS Conversion Group Library Test Protocol Number: TP1214 Test Protocol Number: TP1214 Research Notes: Background: A leading software provider B k d A l di f id Goal: To increase total leads captured Primary research question: Which process will generate the most leads? Approach: Lead generation process redesign, with a focus on strengthening the communication of the value proposition the communication of the value proposition 16#b2blead

Experiment: Background Original Ad {Keyword} Business Software Award‐Winning Business Software. Fully Integrated. Free Trial www.NetSuite.com/Business The experiment ran for 18 weeks, testing 16 different ads (control PPC ad above) and observing more than 950,000 unique impressions. above) and observing more than 950,000 unique impressions. 17#b2blead

Experiment: Example Treatments {KeyWord} Business Solutions {KeyWord} Business Solutions Run Your Entire Business with One Support the Entire Company with One System. Accounting + CRM. Free Trial. Low Cost Solution. NetSuite. L C t S l ti N tS it www.NetSuite.com/Business‐Solutions www.NetSuite.com/Business‐Solutions Business Software Suite #1 Business Software #1 Business Software #1 On‐Demand. 6459+ World Clients 6459+ Clients. On‐Demand Access. Award‐Winning Solution. Free Trial One System for the Entire Company. www.NetSuite.com/BusinessSoftware www.NetSuite.com/BusinessSoftware Small Business Software Small Business Software 6459+ Clients Worldwide Free Trial Worlds #1 On‐Demand Suite. Software You Won t Outgrow. Software You Wont Outgrow 6459+ Clients. Free Trial Today. 6459+ Clients Free Trial Today www.NetSuite.com/BusinessSoftware www.NetSuite.com/BusinessSoftware 18#b2blead

Experiment: Results 21% Increase in Clickthrough The new ad generated 20.9% more clicks than the original Th d t d 20 9% li k th th i i l Original Ad O i i l Ad Best Performing Ad B P f i Ad {Keyword} Business Software Business Software Suite Award‐Winning Business Software. g #1 On‐Demand. 6459+ World Clients Fully Integrated. Free Trial Award‐Winning Solution. Free Trial www.NetSuite.com/Business www.NetSuite.com/BusinessSoftware 19#b2blead

Experiment: A Holistic View The PPC ad test was only part of a testing strategy that involved the entire conversion funnel from the ad to the landing page and form. Business Software Suite #1 On‐Demand. 6459+ World Clients Award‐Winning Solution. Free Trial www.NetSuite.com/BusinessSoftware 20.9% 54.26% 97.27% 20#b2blead

Experiment: Results 272% Increase in Overall Conversion The optimized path’s conversion rate increased by 272.2% Relative Metric Control Treatment Difference PPC Advertisement PPC Advertisement 0.89% 0 89% 1.08 1 08 20.9% 20 9% Landing Page Clickthrough 7.17% 11.06% 54.26% Form Completion 15.84% 31.25% 97.27% Impression‐to‐lead Conversion .009% .033% 272.2% What you need to understand: In this experiment, a 272% increase in ! conversion led to 268% more projected revenue and, when combined with l d d d h b d h the corresponding 66% reduction in cost‐per‐acquisition, the optimized path produced more than four times the monthly profit (302% increase). 21#b2blead

What made this ad successful? Business Software Suite Business Software Suite #1 On‐Demand. 6459+ World Clients Award‐Winning Solution. Free Trial www.NetSuite.com/BusinessSoftware The success of this PPC ad over the original can be traced back to the systematic approach the researchers took in optimizing for offer response. But more narrowly, to one key aspect of that methodology: But more narrowly to one key aspect of that methodology: The Clarity of the Value Proposition. 22#b2blead

Value Proposition Worksheet • Dig into the reasons why your ideal customer should buy from you and not your competitor • Score the quality and uniqueness of your value proposition • Use the Value Proposition Evaluation Matrix to approximate the potential appeal of an offer • Focus on the clarity of your messaging MarketingExperiments.com/ValueProp Download free – no sign up required 23#b2blead

Experiment: Background Experiment ID: Telecom organization data test Location: MECLABS Leads Group Research Library Test Protocol: LG1001 Test Protocol: LG1001 Background: A telecom organization engaged MECLABS for lead generation Objective: To determine if higher cost/higher quality data can drive down overall cost per lead – so we can focus on the most efficient list source. Primary research question: Which campaign data source will drive the most Primary research question: Which campaign data source will drive the most efficient value? Test Design: Four multi‐source lists, a user‐generated list, and a single‐source list were tested under consistent experiment conditions, with 300 accounts and 80 hours of Teleprospecting hours 25#b2blead

Experiment: Results Record No longer with Dials to Dials to sales‐ Segments Cost company disqualify ready lead Multi source 1 $24.00 1% 90 77 Multi source 2 $14.50 .06% 53 110 Multi source 3 $6.00 14% 27 127 Multi source 4 $3.00 23% 26 135 User generated U t d $1.00 $1 00 67% 11 240 Single source $0.49 13.3% 7 210 26#b2blead

Experiment 2: Record Cost $30.00 $25.00 $24 $20.00 $15.00 $10.00 $10 00 $5.00 $1 $0.00 Multi 1 Multi 2 Multi 3 Multi 4 User‐gen Single 27#b2blead

Experiment 2: List Cost $30,000 $25,000 $25 000 $ $24k $20,000 $15,000 $10,000 $ $ $9k $5,000 $0 Multi 1 Multi 2 Multi 3 Multi 4 User‐gen Single 28#b2blead

Experiment 2: Call per lead 300.00 250.00 250 00 240 200.00 150.00 100.00 77 50.00 0.00 Multi 1 Multi 2 Multi 3 Multi 4 User‐gen Single 29#b2blead

Experiment 2: Cost per lead $1,200 $1,000 $1 000 $954 $800 $600 $400 $ $373 $200 $0 Multi 1 Multi 2 Multi 3 Multi 4 User‐gen Single 30#b2blead

Experiment 2: Cost of calling $350,000 $300,000 $288k $250,000 $200,000 $150,000 $100,000 $92k $50,000 $0 Multi 1 Multi 2 Multi 3 Multi 4 User‐gen Single 31#b2blead

Experiment 2: Total campaign cost $350,000 $300,000 $297k $250,000 $200,000 $150,000 $ $116k $100,000 $50,000 $0 Multi 1 Multi 2 Multi 3 Multi 4 User‐gen Single 32#b2blead

Experiment: Results 60.85 % Decrease in Overall Campaign Costs The $24/record list requires 60.85% less investment than the $1/record list Cost per Segments Record Cost List Cost Call Cost Total Cost Lead Multi 1 $24 $373 $24,000 $92,400 $116,400 User‐gen $1 $954 $9,350 $287,980 $297,330 Difference ($14,650) $195,580 $180,930 What you need to understand: The “best deal” list at $1 per record results in a ! campaign that is over 2.5 times more costly than the most efficient list. 33#b2blead

But what about the time investment? Record No longer with Dials to Dials to sales‐ Segments Cost company disqualify ready lead Multi source 1 $24.00 1% 90 77 Multi source 2 $14.50 .06% 53 110 Multi source 3 $6.00 14% 27 127 Multi source 4 $3.00 23% 26 135 User generated U t d $1.00 $1 00 67% 11 240 Single source $0.49 13.3% 7 210 What you need to understand: A rep would need to spend 20 hours of ! calling to generate 1 lead in the user‐generated segment vs. 6 hours in multi‐source segment 1. 34#b2blead

Re‐engage your base • Reconnect with prospects you have engaged months ago – do not focus only on net new leads as they will likely build your base for early next year • Prospects that already know you and your story are more likely to buy since they may have done so already – significantly shortened sales cycle • Continue or pick up the conversation you already started • Make them an offer they can’t refuse and build loyalty • Multiple product lines li l d li • Upgrades • Bundled opportunities 36#b2blead

Case Study Experiment ID: Infusionsoft email nurturing Location: MarketingSherpa Case Study Library Test Protocol: CS31985 Test Protocol: CS31985 Research Notes: Background: A B2B company with a short sales cycle launched an email series to nurture older leads Objective: To reinvigorate leads that have passed the initial 30 day window in which most clients are most likely to convert. most clients are most likely to convert. Primary research question: Which tactics can be implemented to re‐engage existing leads in the database? Test Design: Intensive initial 30‐day lead nurture campaign followed by regular newsletters, webinars and long term added‐value email series. 37#b2blead

Step 1: Nurture the fresh leads first Leads generated through content downloads Topic A Topic B Topic C Topic DWeek 1Week 2 CTA: sign up for online software demo Online Software Sales‐ready leads Re‐engagement Demo 38#b2blead

Step 2: Maintain an ongoing email program If leads finish the initial nurturing series without converting, Infusionsoft sends two other types of emails to the audience: Email Newsletter This monthly email includes short columns from the company CEO, as well as information on industry events, book reviews, marketing on industry events, book reviews, marketing advice and other content related to the company. 39#b2blead

Step 2: Maintain an ongoing email program Once leads finish the initial nurturing series without converting, Infusionsoft sends two other types of emails to the audience: Monthly webinar invitations • The term "webinar" in its subject line • Personal salutation • Description of the event Description of the event • One link and one button to register • Header image linked to registration page Manage your email subscriptions 40#b2blead

Step 3: Design long‐term "tips" email series In addition to the newsletters and webinar invitations, a biweekly email series that features marketing tips and other practical information for 12 months. Leads enter this series immediately after finishing the short‐term series. Primary Goal: Maintain contact with the leads and showcase the companys expertise De‐emphasized call to action: Register for online demo 41#b2blead

Step 3: Design long‐term "tips" email series Pro‐active option to opt‐out Above and beyond CANSPAM, an email is sent three months into this series which g gives them an opportunity to opt‐out. pp y p Shows respect for the prospect and gives them a chance to reaffirm their interest. them a chance to reaffirm their interest 42#b2blead

Step 4: Avoid overwhelming the audience The schedules and scenarios surrounding the email marketing were thoroughly outlined and conditions were set, including: • Stop emailing sales‐ready leads Leads that scheduled an online product demo stop receiving the nurturing Leads that scheduled an online product demo stop receiving the nurturing emails and are handed to the companys sales team. • Start over for new downloads Start over for new downloads Any leads in the long‐term series that fill out a form to download more content are taken out of the long‐term series and placed into one of the four short‐term series. f h i 43#b2blead

Results Customers are from leads generated over three months ago over three months ago Customers are from leads generated over one year ago Key takeaways: Focus on your fresh, relevant leads but don’t ! neglect those you met three or more months ago. neglect those you met three or more months ago Ensure your brand stays top of mind but communicate to them in a way that is relevant and respectful. What can you do to reach out to your existing list in a helpful way? 44#b2blead

Funnel Focus Next Steps Clarify channel message • Complete the Value Proposition Optimize list approach Worksheet Re‐engage your base • Adjust your channel communication to align with your worksheet discoveries Tune data streams • Align your conversion path with your g y p y Time it right Time it right channel communication Close the loop MarketingExperiments.com/ValueProp MarketingExperiments com/ValueProp 45#b2blead

Funnel Focus Next Steps Clarify channel message • Take a step back from your lists to Optimize list approach determine what is driving the results – Re‐engage your base and what isn’t • Consider your resource cost as well as Tune data streams hard cost of lists Time it right Time it right • Adjust and recalibrate your focus on lists Close the that will drive leads in the next 4 months loop 46#b2blead

Funnel Focus Next Steps Clarify channel message • Dig back through your customer lists Optimize list approach from 3, 6, 9 months ago – what was Re‐engage your base their last touch? • Re‐engage in a relevant, respectful way Tune data streams – give them something of value Time it right Time it right • Start simple and build on success Close the loop 47#b2blead

Funnel Focus Next Steps Clarify channel message Join us September 20, 2011 for Part 2 Optimize list approach Register now: Re‐engage your base B2BLeadBlog.com/Part2 Tune data streams Time it right Time it right Close the loop 48#b2blead

49#b2blead

Thank You

Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues - Part 1

by B2B Lead Roundtable on Aug 30, 2011

Accessibility

Categories

Upload Details

Usage Rights

1 Embed 1

Statistics

Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues - Part 1 Presentation Transcript