Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues - Part 2

Finish 2011 Strong Six Funnel Focal Points to Maximize Time, Resources and , Revenues – Part 2

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 1 Are you systematically testing the quality of your list data? a) Testing everything strategically b) Testing some data sporadically Testing some data sporadically c) Starting to test some data d) Not currently testing but planning to soon e) Testing is not a priority right now 3#b2blead

Poll 2 Are you tracking your leads from source to conclusion? Would you consider your lead management process to be a closed loop? y y g p p a) Track all leads through entire sales process b) Track some leads or through most of the process Track some leads or through most of the process c) Starting/trying to track some leads d) Not currently tracking but it’s on the priority list e) Not planning to track anytime soon 4#b2blead

Managing the Marketing‐to‐Sales ProcessHave a process for handling leads back to nurturing 28% 19% 53% Yes, doing now Closed‐loop tracking from source to conclusion 30% 27% 43% No, but high priority Have a process for nurturing leads not sales‐ready 39% 23% 38% Back burner/not planned Have system for rating qualified and warm leads 44% 18% 38% Measure lead generation contribution to revenue 44% 25% 31% Collaborate with sales to define sales‐ready leads 45% 20% 35% Use CRM system to manage lead process 51% 13% 36% 0% 20% 40% 60% 80% 100% Source: MarketingSherpa B2B Marketing y Benchmark Survey N=1147#b2blead

Fourteen weeks left in 2011 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? 6#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 7#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. 8#b2blead

About Dave Green Dave Green is the Director of Best Practices at MECLABS. He has over 25 years of experience in all aspects of lead generation and in channel marketing. Clients have included Cisco, Microsoft, Qwest, PTC, Avaya, Symantec, Computer Associates, & Novell. Key accomplishments include designing for two of the largest software companies telesales operations that @davegreenleads significantly exceeded first‐year quota by over 30 and 60 percent, respectively. Green also wrote the business plan and helped secure the funding for a department focused on demand generation and global lead management for a Fortune 500 firm. Green then helped recruit the staff and select the vendors that drove over a billion dollars in pipeline in the first 20 months of operation. In 2001 David teamed with Michael Saylor to co‐author The B2B Refinery®, a book about the value of organizational alignment to maximize ROI on go‐ to‐market resources. 9#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. 10#b2blead

Clarify channel message Optimize list approach p pp Re‐engage your base Tune data streams Time it right Close the loop B2BLeadBlog.com/Part1 B2BLeadBlog com/Part1 11#b2blead

Clarify channel message Optimize list approach p pp Mine your base Tune data streams Time it right Close the loop 12#b2blead

Tune your data streams Measure twice, cut once: • Which lists give you the most leads the fastest? g y • Which have the least disqualified leads? • Which lists have the most revenue potential? • Run efficiency reports that include Run efficiency reports that include • Every lead and its status • Which list source it is from • Every disqualified lead Do you need to update your data now? • C id th Consider the economics of key accounts and C‐level DMs i fk t d C l l DM • Approximately 670 hours of calling is required per 10,000 names, addresses and phone numbers – double hours to include email 13#b2blead

Identify a clear standard for a “clean” lead Elements of data hygiene include: • Duplication of contacts, locations, accounts or p , , areas of interest • Missing data • Data that is not standardized Data that is not standardized • An exact number of employees in some fields and a range in another • There are ways of enhancing the data, both with external data appending (adding an SIC) and with internal data appending (scoring the and with internal data appending (scoring the buying probability of an account) 14#b2blead

Experiment: Background Experiment ID: (Protected) Location: MECLABS Leads Group Library Test Protocol Number: TP1226 T t P t l N b TP1226 Research Notes: Background: A B2B eDiscovery technology and services provider h d k d h l d d had 25 list sources available. Data was assigned to sales reps as new list sources were attained without regard for list source performance. Goal: To drive most efficient pipeline and revenue through teleprospecting y q Primary research question: Which list will drive the most efficient lead generation? Approach: Prioritize calling based on the quality and efficiency of the list sources. Each source was called for 80 to 100 hours. sources Each source was called for 80 to 100 hours 15#b2blead

The client request • Marketing campaign and media source driven lists • Lists were prioritized chronologically • Focus on testing a new g media source Other possible reasons: Other possible reasons: • A lot of money was spent on list/sponsorship • Client liked X event Client liked X event • Gut feel 16#b2blead

Results: Average DM List Source Leads Calls Contacts Webcast 1/18/11 Registered 7 58 10 Show‐6/16/2011 7 151 25 Webcast 1/18/11 Registered & Attended Webcast 1/18/11 Registered & Attended 3 85 17 2010 Los Angeles 2 67 10 Lead List 7.2 42 1550 163 Document Review 1 43 6 List 4/12/2011 2 87 8 Prospects_Bay Area_CA 4 185 14 2011 New York 2011 New York 8 372 48 Phase 2 list 5 245 28 Event list 5.5.2011 2 112 15 Google campaign 5‐4‐2011 1 62 3 2010 – Booth 9/23/10 3 267 18 Show ‐ 5/20/2010 1 89 4 Phase 1 list Phase 1 list 4 416 24 Notes list 2010‐05‐24 7 753 62 Expo and Conference 2010 5 570 53 Annual meeting 2010‐11‐15 8 968 105 Exchange list 2010‐05‐24 3 404 28 2010: webcast 7 972 94 Webcast ‐ Webcast 2/10/11 3 454 44 Sponsorship summer 2010 1 162 10 One Master Append 2010‐06‐15 11 2259 132 List 5‐5‐2011 1 278 31 Final List 2010‐06‐24 1 578 40 Total 139 11187 992 17#b2blead

Results: Average DM Contact/ List Source Leads Calls Contact % Calls/Lead Contacts Lead Webcast 1/18/11 Registered 7 58 10 17% 8 1 Show‐6/16/2011 7 151 25 17% 22 4 Webcast 1/18/11 Registered & Attended Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 6 2010 Los Angeles 2 67 10 15% 34 5 Lead List 7.2 42 1550 163 11% 37 4 Document Review 1 43 6 14% 43 6 List 4/12/2011 2 87 8 9% 44 4 Prospects_Bay Area_CA 4 185 14 8% 46 4 2011 New York 2011 New York 8 372 48 13% 47 6 Phase 2 list 5 245 28 11% 49 6 Event list 5.5.2011 2 112 15 13% 56 8 Google campaign 5‐4‐2011 1 62 3 5% 62 3 2010 – Booth 9/23/10 3 267 18 7% 89 6 Show ‐ 5/20/2010 1 89 4 4% 89 4 Phase 1 list Phase 1 list 4 416 24 6% 104 6 Notes list 2010‐05‐24 7 753 62 8% 108 9 Expo and Conference 2010 5 570 53 9% 114 11 Annual meeting 2010‐11‐15 8 968 105 11% 121 13 Exchange list 2010‐05‐24 3 404 28 7% 135 9 2010: webcast 7 972 94 10% 139 13 Webcast ‐ Webcast 2/10/11 3 454 44 10% 151 15 Sponsorship summer 2010 1 162 10 6% 162 10 One Master Append 2010‐06‐15 11 2259 132 6% 205 12 List 5‐5‐2011 1 278 31 11% 278 31 Final List 2010‐06‐24 1 578 40 7% 578 40 Total 139 11187 992 9% 80 7 18#b2blead

Results: Average DM Contact/ Calling List Source Leads Calls Contact % Calls/Lead Hours Cost/Lead Contacts Lead Cost Webcast 1/18/11 Registered 7 58 10 17% 8 1 6 $ 348 $ 50 Show‐6/16/2011 7 151 25 17% 22 4 15 $ 906 $ 129 Webcast 1/18/11 Registered & Attended Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 6 9 $ 510 $ $ 510 $ 170 170 2010 Los Angeles 2 67 10 15% 34 5 7 $ 402 $ 201 Lead List 7.2 42 1550 163 11% 37 4 155 $ 9,300 $ 221 Document Review 1 43 6 14% 43 6 4 $ 258 $ 258 List 4/12/2011 2 87 8 9% 44 4 9 $ 522 $ 261 Prospects_Bay Area_CA 4 185 14 8% 46 4 19 $ 1,110 $ 278 2011 New York 2011 New York 8 372 48 13% 47 6 37 $ 2,232 $ 279 $ 2 232 $ 279 Phase 2 list 5 245 28 11% 49 6 25 $ 1,470 $ 294 Event list 5.5.2011 2 112 15 13% 56 8 11 $ 672 $ 336 Google campaign 5‐4‐2011 1 62 3 5% 62 3 6 $ 372 $ 372 2010 – Booth 9/23/10 3 267 18 7% 89 6 27 $ 1,602 $ 534 Show ‐ 5/20/2010 1 89 4 4% 89 4 9 $ 534 $ 534 Phase 1 list Phase 1 list 4 416 24 6% 104 6 42 $ 2,496 $ 624 $ 2 496 $ 624 Notes list 2010‐05‐24 7 753 62 8% 108 9 75 $ 4,518 $ 645 Expo and Conference 2010 5 570 53 9% 114 11 57 $ 3,420 $ 684 Annual meeting 2010‐11‐15 8 968 105 11% 121 13 97 $ 5,808 $ 726 Exchange list 2010‐05‐24 3 404 28 7% 135 9 40 $ 2,424 $ 808 2010: webcast 7 972 94 10% 139 13 97 $ 5,832 $ 833 Webcast ‐ Webcast 2/10/11 3 454 44 10% 151 15 45 $ 2,724 $ 908 $ 2 724 $ 908 Sponsorship summer 2010 1 162 10 6% 162 10 16 $ 972 $ 972 One Master Append 2010‐06‐15 11 2259 132 6% 205 12 226 $ 13,554 $ 1,232 List 5‐5‐2011 1 278 31 11% 278 31 28 $ 1,668 $ 1,668 Final List 2010‐06‐24 1 578 40 7% 578 40 58 $ 3,468 $ 3,468 Total 139 11187 992 9% 80 7 1119 $ 67,122 $ 483 19#b2blead

Results: Worst Case DM Contact/ List Source Leads Calls Contact % Calls/Lead Hours Calling Cost Cost/Lead Contacts Lead 2010 – Booth 9/23/10 3 267 18 7% 89 6 27 $ 1,602 $ 534 Show ‐ 5/20/2010 1 89 4 4% 89 4 9 $ 534 $ 534 Phase 1 list 4 416 24 6% 104 6 42 $ 2,496 $ 624 Notes list 2010‐05‐24 7 753 62 8% 108 9 75 $ 4,518 $ 645 Expo and Conference 2010 5 570 53 9% 114 11 57 $ 3,420 $ 684 Annual meeting 2010‐11‐15 8 968 105 11% 121 13 97 $ 5,808 $ 726 Exchange list 2010‐05‐24 3 404 28 7% 135 9 40 $ 2,424 $ 808 2010: webcast 7 972 94 10% 139 13 97 $ 5,832 $ 833 Webcast ‐ 2/10/11 3 454 44 10% 151 15 45 $ 2,724 $ 908 Sponsorship summer 2010 1 162 10 6% 162 10 16 $ 972 $ 972 One Master Append 2010‐06‐15 11 2259 132 6% 205 12 226 $ 13,554 $ 1,232 List 5‐5‐2011 1 278 31 11% 278 31 28 $ 1,668 $ 1,668 Final List 2010‐06‐24 1 578 40 7% 578 40 58 $ 3,468 $ 3,468 Total 55 8170 645 8% 149 12 817 $ 49,020 $ 891 20#b2blead

Results: Optimized approach DM Contact/ List Source Leads Calls Contact % Calls/Lead Hours Calling Cost Cost/Lead Contacts Lead Webcast 1/18/11 Registered 7 58 10 17% 8 1 6 $ 348 $ 50 Show‐6/16/2011 7 151 25 17% 22 4 15 $ 906 $ 129 Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 6 9 $ 510 $ 170 2010 Los Angeles 2 67 10 15% 34 5 7 $ 402 $ 201 Lead List 7.2 42 1550 163 11% 37 4 155 $ 9,300 $ 221 Document Review 1 43 6 14% 43 6 4 $ 258 $ 258 List 4/12/2011 2 87 8 9% 44 4 9 $ 522 $ 261 Prospects_Bay Area_CA 4 185 14 8% 46 4 19 $ 1,110 $ 278 2011 New York 8 372 48 13% 47 6 37 $ 2,232 $ 279 Phase 2 list 5 245 28 11% 49 6 25 $ 1,470 $ 294 Event list 5.5.2011 2 112 15 13% 56 8 11 $ 672 $ 336 Google campaign 5‐4‐2011 1 62 3 5% 62 3 6 $ 372 $ 372 Total 84 3017 347 12% 36 4 301.7 $ 18,102 $ 216 21#b2blead

Results 76% Decrease in calling cost per lead The calling cost per lead would be decreased by 76% The calling cost per lead would be decreased by 76% Approach Calls/Lead Cost/Lead Worst Case W C 149 $891 $ Average 80 $483 Optimized 36 $216 Difference 113 $675 ! What you need to understand: The overall calling cost per lead would What you need to understand: The overall calling cost per lead would decrease by 76% if the calling team focused on the client’s most efficient lists. 22#b2blead

Beyond calling costs • Among the least efficient lists for this client were the lists from a webcast and a sponsorship engagement • Use this data to better understand your marketing return on investment and make better decisions on future marketing opportunities • Not just the cost to sponsor – also to execute the event j p • Look for patterns – what type of supplier/event/activity produces your best opportunity? • Don t forget about time. What is the opportunity cost of your team calling Don’t forget about time What is the opportunity cost of your team calling an inefficient list? DM Contact/ List Source List Source Leads Calls Contact % Contact % Calls/Lead Hours Calling Cost Calling Cost Cost/Lead Contacts Lead Webcast ‐ 2/10/11 3 454 44 10% 151 15 45 $ 2,724 $ 908 Sponsorship summer 2010 1 162 10 6% 162 10 16 $ 972 $ 972 23#b2blead

The value of decision maker conversations DM List Source Webcast 1/18/11 Registered Contacts 10 • Don’t discount the value of qualitative Show‐6/16/2011 Webcast 1/18/11 Registered & Attended Webcast 1/18/11 Registered & Attended 25 17 analysis 2010 Los Angeles Lead List 7.2 10 163 • Pinpoint the WHY through success and Document Review List 4/12/2011 6 8 failure Prospects_Bay Area_CA 14 2011 New York 2011 New York 48 • Is the value proposition resonating p p g Phase 2 list Event list 5.5.2011 28 15 with the decision maker? Google campaign 5‐4‐2011 3 2010 – Booth 9/23/10 18 • What objections is the decision Show ‐ 5/20/2010 Phase 1 list Phase 1 list 4 24 maker bringing up? g g p Notes list 2010‐05‐24 62 Expo and Conference 2010 53 • Use this insight to brainstorm better Annual meeting 2010‐11‐15 105 Exchange list 2010‐05‐24 28 content and tools for your team 2010: webcast 94 Webcast ‐ Webcast 2/10/11 44 • Use qualitative and quantitative to Use qualitative and quantitative to Sponsorship summer 2010 10 One Master Append 2010‐06‐15 132 develop a research framework to test List 5‐5‐2011 31 Final List 2010‐06‐24 40 your way to success Total 992 24#b2blead

Optimize your data: Keep it simple • Which lists give you the most leads the fastest? • Which have the least disqualified leads? q • Have an intern or hire an overseas resource to spend a day calling 100 contacts. If more than five are inaccurate your lists needs work. • Make ongoing maintenance as part of day to day activity by inside sales Make ongoing maintenance as part of day‐to‐day activity by inside sales teams or customer service. Bad: A disqualified lead for every 20 calls Average: A disqualified lead for every 50 calls Better: A disqualified lead for every 100 calls 25#b2blead

Tips for list purchasing • For teleprospecting, buy lists in 200‐ and 300‐contact increments and test them for efficiency, and then continue to invest based on outcomes • Buy 3 to 6 different lists • Call at the same time • Use the same caller Use the same caller • Use the same call guide/messaging • Direct mail and email will require a larger sample • If it seems to good to be true: • Information may be missing, incorrect or misspelled • Cities, states, names, title may be missing or incorrect • There may not be any email addresses 26#b2blead

Tips for list purchasing • Test which list supplier provides the best contacts – and keep getting new data to re‐test • Don’t use the same list that you’re using in the first quarter in the fourth quarter, unless its a key account list. • There is a difference between using the same source of names g from a list source versus calling the same people. • Make sure the list contains email addresses. Top list providers don’t consider data complete without them. id d t l t ith t th • Keep the momentum going: Don’t give up! 27#b2blead

Time it right: The tipping point • Consider the economics of following up • Be strategic with your most precious resource: g y p • Many B2B and complex sale campaigns require a considerable time investment • Critical high value resources required to follow up often make up a Critical high value resources required to follow up often make up a larger portion of your cost per lead than marketing initiatives • The rule in B2B marketing is to always follow up with your ideal client – The rule in B2B marketing is to always follow up with your ideal client but at what point should you move on to something else that could help close your year strong? 29#b2blead

Experiment: Background Experiment ID: (Protected) Location: MECLABS Leads Group Library Test Protocol Number: TP1214 Test Protocol Number: TP1214 Research Notes: Background: An industrial testing equipment manufacturer engaged the B k d A i d i l i i f d h MECLABS Leads Group to follow up on leads generated through trade shows and a PPC campaign offering a free book. Goal: To understand when to stop calling a teleprospecting list. Goal To nderstand hen to stop allin a teleprospe tin list Primary research question: At which point does the value of sales‐ready leads from a calling campaign no longer outweigh the costs? Approach: Record and analyze teleprospecting campaign data to discover the point of diminishing returns 30#b2blead

Experiment: Results Days 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Leads 412 57 14 4 11 12 8 10 6 5 1 2 2 3 10 Percent 61.3% 8.5% 2.1% 0.6% 1.6% 1.8% 1.2% 1.5% 0.9% 0.7% 0.1% 0.3% 0.3% 0.4% 1.5% Cumulative 412 469 483 487 498 510 518 528 534 539 540 542 544 547 557 Cumulative % 61.3% 69.8% 71.9% 72.5% 74.1% 75.9% 77.1% 78.6% 79.5% 80.2% 80.4% 80.7% 81.0% 81.4% 82.9% Days 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Leads L d 7 5 3 5 2 3 5 3 4 2 3 3 2 3 6 Percent 1.0% 0.7% 0.4% 0.7% 0.3% 0.4% 0.7% 0.4% 0.6% 0.3% 0.4% 0.4% 0.3% 0.4% 0.9% Cumulative 564 569 572 577 579 582 587 590 594 596 599 602 604 607 613 Cumulative % 83.9% 84.7% 85.1% 85.9% 86.2% 86.6% 87.4% 87.8% 88.4% 88.7% 89.1% 89.6% 89.9% 90.3% 91.2% Days 31 34 36 37 38 39 40 42 44 46 47 48 49 51 53 Leads 3 2 1 1 1 1 1 1 1 1 1 4 1 2 1 Percent 0.4% 0.3% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.6% 0.1% 0.3% 0.1% Cumulative 616 618 619 620 621 622 623 624 625 626 627 631 632 634 635 Cumulative % 91.7% 92.0% 92.1% 92.3% 92.4% 92.6% 92.7% 92.9% 93.0% 93.2% 93.3% 93.9% 94.0% 94.3% 94.5% ! Point of diminishing returns: Consider the value of a lead against your campaign cost to discover the point at which ROI is not longer favorable 31#b2blead

Experiment: Results Analysis of the calling and lead generation data showed that 90% of successful leads were converted within 28 days of first contact • 60% of conversions happened on the first day • Another 30% take place over the next month • Conversions dropped off significantly after 28 days Conversions dropped off significantly after 28 days Looking for a decision point: • 30 d 30 days i h is when conversions stop increasing every day i i i d • 15 days is the last point at which at least 1% of conversions occur • 9 days is where you reach 80% of conversions • 2 days is where you reach 70% of conversions *The last conversion in this data set took place on 343rd day (672 total conversions) p y( ) 32#b2blead

Experiment: Results 450 15 days 15 days 400 last point at which 350 at least 1% of conversions occur 30 days ds 300 ales‐ready lead conversions 250 stop increasing 200 every day Sa 150 100 50 0 * * 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Campaign days 33 #b2blead

Experiment: Application Apply this same approach to your own resource‐ and time‐intensive campaigns to determine your point of diminishing returns Consider: • Th The cost of the list or campaign to attain the t f th li t i t tt i th leads plus the cost of following up with the leads against the value of the sales‐ready leads • The opportunity cost of your time and resources: What else could you be doing to drive results for year‐end? drive results for year‐end? • As always – nurture unconverted leads 34#b2blead

Closing the loop “Marketing closes the loop on every lead, tracking it from source to conclusion.” 41% 41% 39% 37% 22% 20% San Francisco Boston Yes ‐ consistently Yes ‐ hit and miss Not currently 36#b2blead

Closing the loop • Make sure you only give sales sales‐ready leads: Too many unqualified leads will result in no follow up • Inside sales will likely have to take leads that are not qualified with the human touch • Get sales leadership support p pp • Define ICP/ULD and sales follow up and reporting obligations and then iterate until its working • Pilot the closed loop process with a small team and then scale it Pilot the closed loop process with a small team and then scale it • Random sample surveys of customers to make sure sales follows up • Use teleprospecting team to qualify a small set of leads for inside sales as a baseline and share with inside sales leadership. a baseline and share with inside sales leadership 37#b2blead

Closing the loop • Critical to keep the dialogue running between sales and marketing • Smaller teams can hold weekly calls from the marketing team to a y g sales manager • Adding data to the sales force automation system • Consider preparing a report for sales to show how lead generation and nurturing campaigns contributed to closed deals • Company had X number of interactions with a prospect along the lead Company had X number of interactions with a prospect along the lead generation/nurturing cycle before they became a customer • Don t overlook the importance of analyzing deals that fell through Don’t overlook the importance of analyzing deals that fell through • Qualified prospects who didn’t buy immediately can be placed back into the lead nurturing pipeline 38#b2blead

Closing the loop Make it super simple for sales • Either its a valid lead or its not • The lead definition should be based on the ULD/ICP • If its not a lead: • Have 4 5 simple options Have 4‐5 simple options • Inspect what you expect and have a process for resolving disputes • Call recording is really helpful for your teleprospecting team 39#b2blead

Case Study: Background Experiment ID: Aprimo Inc Location: MarketingSherpa Library Test Protocol Number: HOW31720 T t P t l N b HOW31720 Research Notes: Background: The VP of corporate marketing of a marketing automation k d h f k f k software and services provider wanted to improved the closed loop feedback from sales reps. Goal: To get the most timely, detailed feedback from time‐pressed sales reps. y q gy Primary research question: Which feedback methodology will result in the best closed‐loop process? Approach: Automated surveys to reps 40#b2blead

Case Study • Jill Snyder, VP Corporate Marketing, Aprimo Inc., set up an automated email system to survey reps 24 hours after each of their scheduled appointments. • Reps hate to type, so Snyder made the survey easy to fill out by just ticking buttons and including an open box for any other notes. • Questions focus on • Sales lead quality • Purchase timing Purchase timing • Budget • If the rep doesn’t answer a survey, the email system automatically generates an email 48 hours later to Snyder and the company CEO. generates an email 48 hours later to Snyder and the company CEO 41#b2blead

Case Study • As a result, nearly 100% of surveys are filled out on time • The request has escalated to the CEO only a handful of times q y • "Reps love doing it. They love offering their opinion. They know if they answer it that they’re going to get more leads. They know that by telling me how well it went, it will determine what type of leads they will get in , yp y g the future. Reps don’t like to prospect. If you can tell a rep, ‘I’ll do the prospecting for you,’ there’s nothing better." • Try a low‐tech approach: • Have an assistant or intern call each rep at a prearranged time to get feedback verbally feedback verbally • Use downtime: Airport waiting time or late on Friday afternoon 42#b2blead

Closing the loop Key success factors: • Make it easy y • Show the value for sales • Give sales control • Make it a competitive sport Make it a competitive sport • Get the head of sales to support you • Use feedback to improve future leads ! While you have their attention, use the opportunity While you have their attention use the opportunity to gather marketplace insights from your sales team 43#b2blead

Put the feedback to work • What made the great lead great? • Did it match/fit the Universal Lead Definition? • Should you revised your ULD? • Review how the lead was attained • What approach does the lead generations specialist use? • Listen to the conversation recording • What triggered the decision maker to move forward? • How can you repeat that? y p 44#b2blead

Sample lead feedback survey 45#b2blead

Funnel Focus Next Steps Clarify channel message Watch the Part 1 of this Webinar: Optimize list approach B2BLeadBlog.com/Part1 Re‐engage your base Tune data streams Time it right Time it right Close the loop 46#b2blead

Funnel Focus Next Steps Clarify channel message • Buy lists in smaller increments and test Optimize list approach • Don’t discount the value of qualitative q Re‐engage your base analysis • Use qualitative and quantitative to Tune data streams develop a research framework to test p Time it right Time it right your way to success Close the loop • Make ongoing data quality maintenance as part of day‐to‐day activity p y y y Bad: A disqualified lead for every 20 calls Average: A di A A disqualified lead for every 50 calls lifi d l d f 50 ll Better: A disqualified lead for every 100 calls 47#b2blead

Funnel Focus Next Steps Clarify channel message • Be strategic: remember time is money Optimize list approach • Know when to move on by analyzing y y g Re‐engage your base when most leads are converted • Measure your ROI: Tune data streams • The cost of attaining the leads plus The cost of attaining the leads plus Time it right Time it right the cost of following up vs. lead value Close the loop WATCH: B2B Lead Roundtable webinar Research from Harvard and MIT on inbound lead contact, qualification and close rates B2BLeadBlog.com/timing 48#b2blead

Funnel Focus Next Steps Clarify channel message • Close the loop on every lead – track from Optimize list approach source to conclusion Re‐engage your base • Pilot the closed‐loop process with a small sales team then scale Tune data streams • Make it simple for sales: Try a survey p y y Time it right Time it right • Analyze deals that fell through Close the loop 49#b2blead

#b2blead

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 51#b2blead

Thank You

Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues - Part 2

by B2B Lead Roundtable on Sep 20, 2011

Accessibility

Categories

Tags

Upload Details

Usage Rights

Statistics

Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues - Part 2 — Presentation Transcript