Practical tips on using marketing automation to drive higher lead conversion

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  • 1. Practical tips on using marketingautomation to drive higher leadconversion. @rlevans, @Silverpop
  • 2. About Silverpop• Email marketing and B2B marketing automation software• 1,400+ customers• Across 38 countries• 425 employees• UK headquarters since 2005
  • 3. Why are we here today?
  • 4. Because only 5% of leads you and I generated in October are ready to buy NOW.
  • 5. 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
  • 6. We faced some challenges Changing buyerFunnel waste behaviour Our lead gen structure wasn’t in line with goals
  • 7. We were wasting leads
  • 8. Our old funnel (and perhaps yours)
  • 9. 65% of leads went to waste.
  • 10. B2B buyer decision cycle Reconsideration SatisfactionSelection AcknowledgmentInvestigation Decision Source: R. Jolles Measurement Criteria
  • 11. Emerging buying cycle gap ... Reconsideration Satisfaction 5%Selection Acknowledgment 79%Investigation Decision Source: R. Jolles Measurement Criteria
  • 12. Emerging buying cycle gap ... Reconsideration Satisfaction problemSelection Acknowledgment 2%Investigation Decision 2-3% Source: R. Jolles Measurement Criteria
  • 13. The buying cycle was also changing
  • 14. 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
  • 15. Almost entirely on their own ... Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
  • 16. Demand Gen structure is key
  • 17. Our Sales team were buried in leads.
  • 18. Marketing’s response wasn’t ideal.
  • 19. How we began curing ourselves
  • 20. Changed our demand gen structureWe redrew our demand gen org chart
  • 21. We aligned Sales/Marketingaround one common goal – revenue.
  • 22. Introduced a unified lead scoring model• Began scoring leads on 3 sets of criteria – BANT data – Demographic data – Behavioural data
  • 23. BANT Scoring
  • 24. Demographic Scoring
  • 25. Behavioural Scoring
  • 26. We then created ranks and buckets
  • 27. Began routing leads based on scoringMarketing became lead-traffic-controllers
  • 28. Began routing leads based on score
  • 29. 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.
  • 30. 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
  • 31. 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
  • 32. 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
  • 33. 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
  • 34. 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
  • 35. 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
  • 36. 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
  • 37. 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
  • 38. 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.
  • 39. • 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
  • 40. Thank you for your time! @rlevans, @Silverpop