Practical tips on using marketing automation to drive higher lead conversionPresentation Transcript
Practical tips on using marketingautomation to drive higher leadconversion. @rlevans, @Silverpop
About Silverpop• Email marketing and B2B marketing automation software• 1,400+ customers• Across 38 countries• 425 employees• UK headquarters since 2005
Why are we here today?
Because only 5% of leads you and I generated in October are ready to buy NOW.
This session’s takeaways• An understanding of funnel challenges we face• A candid look at the challenges we have faced• Five nurtures Silverpop use to tackle these challenges• Some results and data points to arm your arguments
We faced some challenges Changing buyerFunnel waste behaviour Our lead gen structure wasn’t in line with goals
Emerging buying cycle gap ... Reconsideration Satisfaction 5%Selection Acknowledgment 79%Investigation Decision Source: R. Jolles Measurement Criteria
Emerging buying cycle gap ... Reconsideration Satisfaction problemSelection Acknowledgment 2%Investigation Decision 2-3% Source: R. Jolles Measurement Criteria
The buying cycle was also changing
Prospects narrowing the field...“During the initial research phase, the surveyshowed 42% of B-to-B buyers evaluate four ormore suppliers, but as they move closer toprocurement, only 26% get quotes from four ormore suppliers.” Source: Chief Marketer, “Adjusting to the Web- Influenced Buy Cycle,” 22 March 2010
Almost entirely on their own ... Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
Demand Gen structure is key
Our Sales team were buried in leads.
Marketing’s response wasn’t ideal.
How we began curing ourselves
Changed our demand gen structureWe redrew our demand gen org chart
We aligned Sales/Marketingaround one common goal – revenue.
Introduced a unified lead scoring model• Began scoring leads on 3 sets of criteria – BANT data – Demographic data – Behavioural data
We then created ranks and buckets
Began routing leads based on scoringMarketing became lead-traffic-controllers
Began routing leads based on score
Introduced 5 nurture programmes• With goals to: – Improve follow-up with leads. – Offload follow-up to not-yet-sales-ready leads. • Freeing up costly resources • Improving lead follow-up times – Guide leads through a longer buyer cycle and towards an opportunity.
Introduced nurture programmes• The initial programmes: – Automated Media Nurture – 6-Month Email or Marketing Automation Nurture – 90-day Email or Marketing Automation Nurture – Dead/Lost Nurture – Silverpop on Silverpop
Automated Media Nurture• Automated Media Nurture – 6 month programme – 6 messages – Aimed at following up on whitepaper downloads – Goals • Driving to additional thought capital download • Driving to a web-based demo • Ultimately leading to a live demo
6-Month Nurtures• 6-Month Email and MA Nurtures – Sales or Demand Gen initiated – 6 messages – Aimed at staying top of mind – Goals • Driving to additional thought capital download • Driving to upcoming webinars • Conveying points of differentiation in latter stages • Ultimately leading to a web-based or live demo as the buying cycle progresses
90-Day Nurtures• 90-Day Email and MA Nurtures – Sales or Demand Gen initiated – 6 messages – Aimed at prospects coming to market in near- term – Goals • Driving to additional thought capital download • Strongly conveying points of differentiation • Offering web-based product demos and feature highlights
Dead/Lost Nurtures• 11-month Dead/Lost Opportunity Nurture – Sales or Demand Gen initiated – Where contract term is known – 10 messages – Aimed at prospects in opportunities that went dead or were lost – Goals • Stay top of mind • Provide months of thought leadership and industry best practices • Drive to a webinar, web demo or live demo as contract term nears renewal
Silverpop on Silverpop• 6-week Highlight Nurture – Sales or Demand Gen initiated – For Prospects in latter stages of an Opportunity – Goals • Educate customers on the benefits of marketing automation through real-world experience • Highlight clear differentiators in the product and service offering • Drive to an opportunity close
The results...• Reduced non-contacted leads from 65% to < 5%.• Increased lead conversion rates by 2x in 12- months• Increased marketing-generated revenue by more than 100% in 12-months• Removed sales from the lead qualification process altogether• Other less precise measures of success: – Increased opportunity creation – Decreased time from first contact to close
What tools are needed (bare min)?CRM System Marketing Automation Platform• Database of record • Lead management• Lead and opportunity tracking and • Lead Scoring reporting • Lead Ranking• Sales process management • Lead Routing • Lead Alerts to Sales • CRM integration for sales-initiated campaigns • Publishing and outbound marketing • Nurtures and email marketing • Landing pages for lead generation • Reporting • Sales view into marketing activity • Sales view into lead score, rank and behaviour
Summary...It is likely that less than 5% of the leads you generate are ready to buy.The buying cycle has changed and it has grown even more complex.Sales and marketing MUST be aligned to the same numbers; the samevocabulary; and the same units of measurement.Technology is not the cure-all. You must also have the right structure; theright processes; and the right content.CRM is the foundation, but you need marketing automation tools tomanage the entire lead to opportunity process.
• Resource Centre at silverpop.com – White papers – Webinars – Blogs – Case studies – Newsletters• Presentations on SlideShare – www.slideshare.net/Silverpop New Tip Sheet: 9 Tips for Creating a Successful Scoring Model silverpop.com/9tips