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

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

    • 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