How Marketers Are Transforming Mounting Pressure, Challenges into Revenues

2012 B2B Marketing Benchmark Report Benchmark Report How Marketers are Transforming Mounting Pressure, Challenges into Revenues P Ch ll i t R October 18, 2011 October 18 2011

B2B Lead Roundtable 1. You will receive a link to the webinar recording 2. 2 Please fill out the post‐webinar survey Pl fill t th t bi 3. View past and sign up for future webinars • B2BLeadBlog com/webinars B2BLeadBlog.com/webinars 4. Join the B2B Lead Roundtable LinkedIn group • B2BLeadBlog.com/Linkedin 5. Connect and share • B2BLeadBlog.com • Twitter @B2BLeadBlog 2#b2blead

Today’s speakers About Jen Doyle About Jen Doyle Senior Research Manager at MarketingSherpa covering B2B marketing, social media and search engine marketing. Jen is the Lead Author of the 2011 and 2012 Editions of the B2B Marketing Benchmark Report, the B2B Advanced Practices Handbook, and the 2011 Search Marketing B2B Advanced Practices Handbook and the 2011 Search Marketing Benchmark Reports. Jen is a speaker at MarketingSherpa and partner events, a @JenLDoyle MarketingSherpa newsletter columnist, blog contributor, and a speaker for MarketingSherpa and partner webinars. Her research has been f M k ti Sh d t bi H hh b instrumental in the development of new media marketing practices, including the FUEL methodology for B2B marketing effectiveness. 3#b2blead

Today’s speakers About Kaci Bower About Kaci Bower Kaci Bower is a Senior Research Analyst with MarketingSherpa. Her area of focus is Search Marketing, and she’s the lead author of both the SEO and PPC editions of the 2012 Search Marketing Benchmark Report and is currently working on what will be MarketingSherpa’s and is currently working on what will be MarketingSherpa s first Inbound Marketing Handbook to be released early next year. Kaci is also a co‐presenter at the B2B Advanced Practices Workshop @KaciBower where she speaks on the topics of mastering essential lead where she speaks on the topics of mastering essential lead generation and lifting results. 4#b2blead

Today’s speakers About Brian Carroll 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. provide lead generation services 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 profiled and regularly quoted in numerous publications. Brian also speaks to 20,000 people a year on improving sales effectiveness and lead generation strategies. 5#b2blead

MarketingSherpa is a research and publishing organization serving the marketing community i i i h k i i MarketingSherpa s annual research MarketingSherpa’s annual research cycle provides knowledge for continuous marketing improvement 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

Today, we’re going to discuss: • Key findings of research on 1,745 B2B organizations • How one B2B company applied an integrated nurturing approach that created a 69% increase in inbound calls • Top B2B marketing opportunities for 2012 • A 5‐step process to optimizing your funnel i ii f l 8#b2blead

Research background 1,745 B2B marketers were surveyed on: • Top challenges • Barriers to success • Best practices 9#b2blead

Key finding: Challenges growing in pertinence • B2B marketing challenges Generating high quality leads 74% 78% on the rise year‐over‐year 69% 49% Generating a high volume of leads 44% 35% • Last year’s focus on Generating perceived value in 41% 2011 37% 2010 q quality has brought y g "cutting edge" product benefits 37% 2009 marketers back to Competing in lead generation across multiple media, from 40% 36% 27% volume this year podcasts to paid search to … 38% Generating public relations "buzz" 36% 33% • Continual struggle Marketing to a lengthening sales 38% 41% cycle between quality and 39% Marketing to a growing number of 33% q quantity of leads y p p people involved in the buying y g 34% process 33% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745 10#b2blead

Key finding: Challenges apparent in effectiveness • Perceived effectiveness Website design, management 50% of all tactics and optimization 31% Search engine optimization S h i ti i ti 36% experienced severe (SEO) 29% declines this year Email marketing 26% 40% Tradeshows 25% 20% 43% • It’s becoming more Virtual events / webinars 19% challenging to Paid search (PPC) 16% 23% 2010 2011 accomplish results from Telemarketing 13% 35% the same activities Public relations 31% 13% Direct mail 22% 6% Social media Social media 16% 6% Print advertising 10% 6% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745 11#b2blead

Despite an increasingly challenging environment, Despite an increasingly challenging environment marketers are not optimizing their funnels.

Key finding: Marketers must improve funnel optimization i i i 68% of B2B marketers have not identified of B2B marketers have not identified their Sales and Marketing funnel Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745#b2blead

Key finding: Marketers must improve funnel optimization i i i 68% of B2B marketers have not identified of B2B marketers have not identified their Sales and Marketing funnel 61% send all leads directly to sales Only 27% of those leads will be qualified at point of conversion Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745#b2blead

Key finding: Marketers must improve funnel optimization i i i 68% of B2B marketers have not identified of B2B marketers have not identified their Sales and Marketing funnel 61% send all leads directly to sales Only 27% of those leads will be qualified at point of conversion 79% have not established lead scoring have not established lead scoring Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745#b2blead

Key finding: Marketers must improve funnel optimization i i i 68% of B2B marketers have not identified of B2B marketers have not identified their Sales and Marketing funnel 61% send all leads directly to sales Only 27% of those leads will be qualified at point of conversion 79% have not established lead scoring have not established lead scoring 65% have not established lead nurturing Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745#b2blead

How can I generate more qualified leads?

Case Study: Background Experiment ID: Postcard Mania Location: MarketingSherpa Case Study Library Test Protocol Number: #CS31948 T t P t l N b #CS31948 Research Notes: Background: A B2B direct‐marketing company serving small to mid‐size k d d k ll d businesses did not sell online, and needed to generate offline sales. Goal: To drive inbound calls which resulted in 19% conversion rate. Primary research question: Which approach will drive the best inbound call volume? Approach: Implement a lead‐generation effort with a three‐part Approach: Implement a lead generation effort with a three part nurturing funnel to turn web‐form registrations into inbound calls. 18#b2blead

The Problem • Did not sell online, and needed to generate offline sales • Customers becoming more averse to engagement and offline response • Web form leads converted at 5% but web leads who called in converted at Web form leads converted at 5%, but web leads who called in converted at 19% “We were trying very hard to get [a potential y g y g [ p customer’s] first touch to be a call‐in, which is harder and harder each year.” ‐Sarah Kicinski, SVP Marketing and Business g Development, PostcardMania 19#b2blead

Multichannel lead generation • PostcardMania drove leads to landing pages using: • Direct mail • PPC ads • Organic search Organic search • Social media • Lead generation calls to action L d i ll i included: • Free postcard samples • Free marketing reports 20#b2blead

Relevant, multichannel nurturing campaign • Nurturing tracks included 28 emails on: • Facts about PostcardMania • Marketing tips • Information about direct Information about direct mailing lists • Calls to action included Calls to action included • A reason to call a sales rep, signed by the prospect’s rep 21#b2blead

Relevant, multichannel nurturing campaign • Incorporated teleprospecting and direct mail to support nurturing 22#b2blead

Staggered nurturing frequencies Immediate onversion thank you email and call email and call from Prospects onth 1 teleprospector receive mail every 3 days Frequency h 2 drops to once a Upon co Mo Month week Frequency Months 4 drops to once a s 3 ‐ month U 23#b2blead

Results 69% increase in inbound rep calls The campaign optimization resulted in 69% more calls The campaign optimization resulted in 69% more calls Inbound Web leads Approach calls contacted Original nurturing campaign 29% 67.7% Optimized nurturing campaign 49% 77.6% Relative difference 69% 15% ! What you need to understand: Optimizing the lead generation effort What you need to understand: Optimizing the lead‐generation effort with a three‐part nurturing funnel successfully converted web‐form registrations into inbound calls. 24#b2blead

Marketers must use funnel optimization strategies to Marketers must use funnel optimi ation strategies to ensure optimal qualified lead generation.

What is funnel optimization? Sales and marketing functions and processes that encourage a lead’s progression through the sales and marketing funnel. Processes include lead qualification, scoring, nurturing, management and optimization nurturing, management and optimization Leads generated Lead qualification & scoring Sales qualified? Y/N Qualified leads go Continual Lead nurturing & to Sales – others management optimization get nurtured Lead conversion New customer nurturing New customer nurturing 26#b2blead

Funnel optimization – benefits Funnel optimization will enable you to: • Generate a greater volume of qualified, sales‐ready leads g q , y • Dramatically reduce any frustrations that exist among Sales • Improve sales and marketing alignment • Increase sales effectiveness Increase sales effectiveness • Accelerate sales pipeline performance • Ultimately increase overall revenues 27#b2blead

Key finding: Lead generation is top priority, conversion is greatest challenge • Interdependence of lead Interdependence of lead Lead generation L d i 60% 48% generation and Converting qualified conversion leads into paying 57% customers 52% Branding, reputation 45% • Marketers now prioritize and awareness 38% lead conversion over 44% Priority branding, reputation and branding, reputation and Lead nurturing 40% Challenge awareness 36% Lead qualification and scoring 37% Lead hand‐off and 18% management 22% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745 28#b2blead

Key finding: Funnel optimization presents great opportunity 13% • Marketers beginning to g g Lead generation Lead generation 46% embrace sales conversion 37% as a sales and marketing Lead qualification 23% 41% priority, however… 31% 41% Lead scoring 29% 19% • Marketers are struggling 30% No process or guidelines to gain maturity in funnel Lead nurturing 41% y currently 22% optimization tactics Informal process, few 25% guidelines, sporadic Lead hand‐off / 37% performance management 29% Formal process, thorough guidelines, routine 38% performance Funnel 34% optimization 16% Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745 29#b2blead

How can we gain maturity in funnel How can we gain maturity in funnel optimization?

Optimize your Sales and Marketing Funnel Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 31#b2blead

Step 1: Identify your sales and marketing funnel • The funnel does not begin once a lead is handed off to Sales, it begins once a lead has responded to a marketing campaign. • Three guiding principles in developing your funnel: • It should be measurable It should be measurable • It should encourage accountability Measurability • It should be simple Accountability Simplicity 33#b2blead

Step 1: Identify your sales and marketing funnel Demand Generation Content Response Capture Lead Scoring Lead Nurturing Lead to Pipeline Sale Conversion Rate Conversion Rate X% Sales Engagement g g 34#b2blead

Step 2: Establish lead qualification and scoring • Determine your universal lead definition (ULD) • Outline specific criteria of a qualified lead • Develop automated scoring methodologies using demographics and Develop automated scoring methodologies using demographics and behaviors 36#b2blead

Step 2: Establish lead qualification and scoring Action Item: ULD Create your own version of the universal lead definition, apply it to every lead, and leave room for iteration as apply it to every lead and leave room for iteration as you close the loop with your sales team. 37#b2blead

Step 2: Establish lead qualification and scoring Action Item: ULD checklist What makes a good sales lead? • How can we raise the bar and give your better more actionable leads? • What initiative or need makes this a good fit? • What info is necessary to determine if a lead is worth the follow‐up? What info is necessary to determine if a lead is worth the follow‐up? • What are the titles/job functions of economic buyers and influencers? • What does this company values? What’s its culture like? • What are the common business issues? 38#b2blead

Step 2: Establish lead qualification and scoring Action Item: ULD checklist What information is required to qualify leads as being sales ready? • What are the characteristics of the ideal sales opportunity? • What are the questions sales want answered before getting a lead? • What info is must‐have vs. nice‐to‐have? What info is must‐have vs nice‐to‐have? • Which questions tend to gather the most‐needed information? • What should we start doing to make leads more actionable? • What things should we stop doing with leads that don’t value? 39#b2blead

Step 2: Establish lead qualification and scoring Action Item: ULD checklist Use the ULD to delineate “sales ready” vs. “nurture” lead statuses • Will there be a time frame to evaluate and implement a solution? • Will there be a formal or informal budget in place? • Are there specific behaviors or traits you are looking for? Are there specific behaviors or traits you are looking for? 40#b2blead

Step 2: Establish lead qualification and scoring Action Item: ULD next steps Identify key info a sales rep would value in speaking with a prospect • What fuels interest and how must we focus on it with the solution? • Where is the best entry point? • Who is involved in the buying process as it evolves? • Should anyone else be contacted? • Where’s the funding coming from and who has authority over it? Then, only send as many sales ready leads that the sales person can effectively handle 41#b2blead

Step 3: Nurture non‐qualified leads until they are ready to engage Nurturing – the process of relevant, ongoing communications to increase the process of relevant, ongoing communications to increase interest and engagement • Ongoing nurturing O go g u u g • Outreach nurturing • Engagement nurturing 43#b2blead

Step 3: Nurture non‐qualified leads Action Item: Set up basic lead nurturing 1. Set up your nurturing database • Include all of the people you could potentially sell to: people c ude a o e peop e you cou d po e a y se o peop e you’ve met at trade shows, who have spoken with your sales team, who have responded to your website, etc. 2. Review your database • What do you know about the people in it? • What industry are they in? What industry are they in? • What are their titles? 44#b2blead

Step 3: Nurture non‐qualified leads Action Item: Set up basic lead nurturing 3. Decide what information would be most relevant to them • Ask your sales team, “What questions do your customers ask most s you sa es ea , a ques o s do you cus o e s as os often? What do they care about? What issues are they facing?” • Find content to address these issues. • Pass this content by your sales team Ask them whether their Pass this content by your sales team. Ask them whether their customers would value it. As much as you can, repurpose content. 4. 4 Email prospects this relevant content Email prospects this relevant content • Whatever you do, don’t pitch! 45#b2blead

Step 3: Nurture non‐qualified leads Action Item: Set up basic lead nurturing 5. Follow up with a human touch • Make a personal connection and follow up emails with phone calls a e a pe so a co ec o a d o o up e a s p o e ca s to directly gauge prospects’ interest. Never rely on email alone. 46#b2blead

Step 4: Continue to nurture through the funnel • Conversion nurturing • New customer nurturing g Leads generated Sales qualified? Y/N Qualified leads go Conversion to Sales – others materials get nurtured Customer experience i Lead materials conversion New customer nurturing New customer nurturing 48#b2blead

Step 4: Continue to nurture through the funnel Action Item: Ongoing lead nurturing 1. Establish a lead‐development process 2. Motivate sales people to have consistent contact with prospects who may not yet be ready to buy 3. 3 Ensure that your Sales team hands back inactive leads for further Ensure that your Sales team hands back inactive leads for further nurturing by marketing • Leverage a centralized data base • Ask sales can to make notes why a lead is sales ready Ask sales can to make notes why a lead is sales‐ready 49#b2blead

Step 4: Continue to nurture through the funnel Action Item: Ongoing lead nurturing 4. Capture future opportunities that are being currently missed 5. Leverage content to position sales people as trusted advisors • A carefully crafted lead nurturing program anticipates the p p prospect’s questions and responds with timely answers q p y • This builds value by providing useful information • Relevancy is the key 6. This process positions sales people as trusted advisors. 50#b2blead

Step 5: Adapt and optimize • Evaluate lead generation performance • Evaluate funnel optimization performance p p • Lead qualification and scoring • Lead nurturing Lead gen • Lead management Lead management • Deliver marketing value to the C‐Suite Lead Lead management qualification Lead Lead scoring nurturing 52#b2blead

Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website, Teleprospecting Inquiries (Level 1) Not a Fit Marketing Nurturing (Level 2) Pipeline Level 3,4,5 Leads Sales Pipeline Pi li 53#b2blead

Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website, Teleprospecting Inquiries (Level 1) Not a Fit Marketing Nurturing (Level 2) Pipeline Level 3,4,5 Leads HANDOFF Sales l Sales Ready Generated Leads Leads Sales Existing Clients Pipeline Pi li Customers 54#b2blead

Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website, Teleprospecting Inquiries (Level 1) Not a Fit Marketing Nurturing (Level 2) Pipeline Level 3,4,5 Leads Returned Returned Prospects HANDOFF Sales l Sales Ready Generated Leads Leads Sales Existing Clients Pipeline Pi li Customers 55#b2blead

Step 5: Adapt and optimize Events, Events, Summits, Guides, Subscribers, Website, Teleprospecting Inquiries (Level 1) Not a Fit Marketing Nurturing (Level 2) Pipeline Level 3,4,5 Leads Returned Returned Prospects CRM Closed Loop Feedback HANDOFF Sales l Sales Ready Generated Leads Leads Sales Existing Clients Pipeline Pi li Measure ROI Customers 56#b2blead

Funnel optimization framework review In an increasingly challenging environment, funnel optimization presents a great opportunity to marketers Step 1: Identify your sales and marketing funnel Step 2: Establish lead qualification and scoring Step 3: Nurture non‐qualified leads until they are ready to engage Step 4: Continue to nurture throughout the funnel Step 5: Adapt & optimize 57#b2blead

Today’s key takeaways 2012 B2B Marketing Benchmark Report • Key findings of 1,745 B2B organizations y g , g • Struggle to generate both high quality/quantity of leads • Declining effectiveness of tactics The Opportunity: To optimize the sales and marketing funnel 58#b2blead

Today’s key takeaways 2012 B2B Marketing Benchmark Report • Key findings of 1,745 B2B organizations y g , g • Struggle to generate both high quality/quantity of leads • Declining effectiveness of tactics The Opportunity: To optimize the sales and marketing funnel Case Study • Tactical steps to increase inbound calls 69% • Multichannel lead generation g • Staggered multichannel nurturing campaign 59#b2blead

Today’s key takeaways The funnel optimization framework 1. Identify your sales and marketing funnel yy g 2. Establish lead qualification and scoring 3. Nurture non‐qualified leads ready to engage 4. Continue to nurture through the funnel 4 Continue to nurture through the funnel 5. Adapt & optimize 60#b2blead

Today’s key takeaways The funnel optimization framework 1. Identify your sales and marketing funnel yy g 2. Establish lead qualification and scoring 3. Nurture non‐qualified leads ready to engage 4. Continue to nurture through the funnel 4 Continue to nurture through the funnel 5. Adapt & optimize Your tactical action items • Define your Universal Lead Definition • Implement near and long‐term nurturing p g g • Refine your lead management model 61#b2blead

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MECLABS Research Partnership Opportunities MECLABS conducts rigorous experiments in the new science of optimization. We apply our discoveries to help leaders optimize the financial performance of their sales and marketing programs. of their sales and marketing programs Learn more about how you may be a fit for a MECLABS research be a fit for a MECLABS research partnership: • Select your Research Partnership interest type on the post‐webinar survey ✗ • Contact us directly di l info@MECLABS.com 1‐877‐635‐0565 63#b2blead

B2B Lead Roundtable 1. You will receive a link to the webinar recording 2. 2 Please fill out the post‐webinar survey Pl fill t th t bi 3. View past and sign up for future webinars • B2BLeadBlog com/webinars B2BLeadBlog.com/webinars 4. Join the B2B Lead Roundtable LinkedIn group • B2BLeadBlog.com/Linkedin 5. Connect and share • B2BLeadBlog.com • Twitter @B2BLeadBlog 64#b2blead

How Marketers Are Transforming Mounting Pressure, Challenges into Revenues

by B2B Lead Roundtable on Oct 17, 2011

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How Marketers Are Transforming Mounting Pressure, Challenges into Revenues — Presentation Transcript