Marketing Automation: Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue
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Marketing Automation: Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue

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Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue ...

Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue
Improved lead management will create more demand for our products:
Leads get better follow-up through automated lead nurturing
Leads will better understand the benefits of our products
Our sales team can focus on selling to the highest quality leads

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Marketing Automation: Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue Presentation Transcript

  • 1. Lead Management and Marketing Automation
    Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue
  • 2. Why Lead Management?
    The B2B Buyer has changed: need to pro-actively engage around educational topics
    Leads need to be nurtured until they are sales-ready
    Sales & Marketing need to be aligned more closely, creating a seamless buying process
    There is an opportunity to turn marketing into a revenue driver rather than a cost center
    Lead management provides a dramatic ROI: many benefits, low risk, modest investment
    “Nurtured leads produce, on average, a 20 percent increase in sales opportunities versus leads that are not nurtured.”
  • 3. The Changing B2B Buyer
    Highlights from Enquiro’sBuyerSphere Project:
    Almost 50% of B2B buyers starts their buying process with online research
    Talking to vendors of often only the 4th step
    Order of Things – High Consideration
    50%
    37.5%
    25%
    12.5%
    0%
    1st
    2nd
    3rd
    4th
    5th
    Online Research Talk to Users Talk to Vendors
  • 4. The Changing B2B Buyer
    Buyers are seeking and finding more information on their own—they’re in control
    Search engines and vendor Web sites are top information sources in the buying process
    To drive revenue, marketers must become more adept at identifying sales-ready leads and nurturing the remainder
    Vendors need to interact with prospects before the sales conversation, by providing relevant information that is relevant in the earlier stages of the buying process
  • 5. Convert More Leads Into Customers
    Lead Nurturing, Lead Scoring, Lead Routing and Lead Monitoring close the gap in the middle of the funnel
    Improve the dynamics of your revenue cycle to convert more potential customers into customers
    Current marketing focus
    Current sales focus
    The B2B lead
    Development gap
    Reach
    Interest
    Desire
    Convert
    Enrich
    Retain
    Lead Management Closes the Gap
    in The Middle of the Funnel
    Warm leads leak out
    Issue 1: Marketing hands off
    Leads too early. Unqualified
    Leads waste sales’ time.
    Issue 2: Sales cherry picks leads, letting
    longer-time-frame leads leak out.
    Issue 3: Marketing spends
    More to recapture lost leads.
    Source: October 2006, Best Practices “Improving B2B Lead Management”
  • 6. Increase Productivity With Automation
    Run more campaigns without expanding the marketing team
    Create more consistent email follow-up
    Example: automate Webinar campaigns, including invitations, reminders, follow-up and reporting
  • 7. More Qualified Leads with Lead Nurturing
    Companies are able to use existing staff for nurturing campaigns, increasing the number of sales-ready leads by 50% with little to no incremental investment ¹
    Nurtured leads delivered 47% higher average order values than non-nurtured leads²
    Goal: Increase the number of sales opportunities & deal size and reduce cost per qualified lead
    “Companies that excel at lead nurturing are able to generate 50% more sales-ready leads at 33% lower cost per lead.”
  • 8. Increase Sales Effectiveness
    Improved Lead Quality = Increased Sales Productivity
    Priority #2:
    Prioritize leads based on quality and urgency
    Let sales send leads back to marketing for further nurturing, preventing leads that just "sit" somewhere
    Provide comprehensive lead activity history for sales
    Increase Sales Effectiveness
  • 9. Turn Marketing Into a Revenue Driver
    Show that marketing is a revenue driver, not a cost center.
    “Only 20% of companies believe they excel at measuring the performance of marketing initiatives.”
    Optimize ROI
    Improve marketing's accountability by proving marketing’s impact on revenue
    Improve Revenue Performance:
    Conversion rates
    Time in a particular stage (velocity)
  • 10. Marketing Automation + Lead Management
    Realize the benefits of lead management with new technology and improved processes
    Marketing Automation technology combined with Lead management processes provide the framework to:
    • Convert more leads into revenue
    • 11. Run more campaigns
    • 12. Nurture leads automatically
    • 13. Make sales more productive
    • 14. Measure progress and results
  • The Value of Lead Nurturing
    Lead Nurturing helps turn more inquiries into qualified leads and decreases cost per qualified lead
    Source: actual data from software vendor
    50% increase
  • 15. The Value of Lead Scoring
    With good info on lead prioritization, more reps meet quota and revenue goals are more likely to be achieved
    How Easy Is it To Get Access to Information About Prioritizing Sales Efforts?
  • 16. The Value of Lead Management
    SiriusDecision' Waterfall Model gives benchmark numbers for conversion rates between the different stages in the funnel. With improved lead management, conversion rates will be higher. 
    Example: Moving from Benchmark to Best Practice
    • For each 1,000 leads, best-in-class companies create 46 more MQLs than benchmark companies (97 instead of 51). They create almost 10 additional deals (14.3 instead of 4.6 deals, a 300% increase).
    MQL = Marketing Qualified Lead SAL = Sales Accepted LeadSQL = Sales Qualified Lead (i.e. sales opportunity identified)
  • 17. Improving Lead Nurturing
    In Place:
    • Monthly Email Newsletter
    • 18. Generic content (whitepapers, webinars, blog posts)
    To Implement:
    • Drip email campaigns
    • 19. Content based on buyer profile and buying stage
    • 20. Automation of marketing campaigns (including Trigger-based nurturing)
    • 21. Integration of lead nurturing with CRM data and CRM activity
    • 22. A/B Testing
    Steps to Take to Improve Lead Nurturing
  • 23. Improving Sales Productivity
    In Place:
    • Automatically assign new leads to sales people
    To Implement:
    • Lead Scoring based on profile and activity
    • 24. Prioritized lead list for sales
    • 25. Lead Activity Monitoring with real-time alerts
    • 26. Lead activity history in CRM system (email clicks, web visits, registrations)
    Steps to Take to Improve Sales Productivity
  • 27. Improving Sales & Marketing Analytics
    In Place:
    • Reporting on lead volume
    To Implement:
    • Lead conversion rates
    • 28. Pipeline velocity (how fast leads flow through the funnel)
    • 29. Percentage of the pipeline that is Marketing-sourced
    • 30. Percentage of the pipeline that is Marketing-influenced
    Steps to Take to Improve Insight into Sales and Marketing Effectiveness
  • 31. Getting Started / Next Steps
    STAGE 1
    STAGE 2
    STAGE 3
    Advanced Assessment and Continued Development
    • Identify “hits” and “misses”
    • 32. Develop additional content resources for lead generation
    • 33. Test and optimize emails and landing pages for various segments
    • 34. Create advanced, automated, trigger-based campaigns for more segments
    Marketing Automation Strategy Development
    • Select and implement marketing automation solution
    • 35. Develop preliminary lead scoring strategy
    • 36. Define high-value segments in database
    • 37. Create standard set of automated, trigger-based campaigns for key segments
    Lead Nurturing/Scoring Initial Assessment
    • Identify current successes and areas for improvement
    • 38. Begin evaluating marketing automation software
    • 39. Begin developing list of feature requirements
  • Summary
    Solution
    • Institute proven Lead management processes
    • 40. Adopt Marketing automation technology
    ROI
    • Large potential benefits
    • 41. Little incremental investment in resources
    Benefits
    Increase Conversion
    Increase Marketing Productivity
    Improve Lead Nurturing
    Increase Sales effectiveness
    Turn Marketing into a revenue driver
  • 42. Thank You & Stay Connected!
    Russell Dalton
    @demandum
    rdalton@demandum.com
    (888) 743-7712