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

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

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.”

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

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

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”

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

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.”

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

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)

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
Run more campaigns
Nurture leads automatically
Make sales more productive
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

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?

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)

Improving Lead Nurturing
In Place:
Monthly Email Newsletter
Generic content (whitepapers, webinars, blog posts)
To Implement:
Drip email campaigns
Content based on buyer profile and buying stage
Automation of marketing campaigns (including Trigger-based nurturing)
Integration of lead nurturing with CRM data and CRM activity
A/B Testing
Steps to Take to Improve Lead Nurturing

Improving Sales Productivity
In Place:
Automatically assign new leads to sales people
To Implement:
Lead Scoring based on profile and activity
Prioritized lead list for sales
Lead Activity Monitoring with real-time alerts
Lead activity history in CRM system (email clicks, web visits, registrations)
Steps to Take to Improve Sales Productivity

Improving Sales & Marketing Analytics
In Place:
Reporting on lead volume
To Implement:
Lead conversion rates
Pipeline velocity (how fast leads flow through the funnel)
Percentage of the pipeline that is Marketing-sourced
Percentage of the pipeline that is Marketing-influenced
Steps to Take to Improve Insight into Sales and Marketing Effectiveness

Getting Started / Next Steps
STAGE 1
STAGE 2
STAGE 3
Advanced Assessment and Continued Development
Identify “hits” and “misses”
Develop additional content resources for lead generation
Test and optimize emails and landing pages for various segments
Create advanced, automated, trigger-based campaigns for more segments
Marketing Automation Strategy Development
Select and implement marketing automation solution
Develop preliminary lead scoring strategy
Define high-value segments in database
Create standard set of automated, trigger-based campaigns for key segments
Lead Nurturing/Scoring Initial Assessment
Identify current successes and areas for improvement
Begin evaluating marketing automation software
Begin developing list of feature requirements

Summary
Solution
Institute proven Lead management processes
Adopt Marketing automation technology
ROI
Large potential benefits
Little incremental investment in resources
Benefits
Increase Conversion
Increase Marketing Productivity
Improve Lead Nurturing
Increase Sales effectiveness
Turn Marketing into a revenue driver

Thank You & Stay Connected!
Russell Dalton
@demandum
rdalton@demandum.com
(888) 743-7712

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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 Presentation Transcript