Making Lead Scoring & Nurturing Work Moderator: Andrew Gaffney Editor Demand Gen Report Presenter: Paul Dunay Global Director of Integrated Marketing BearingPoint

Today’s Guest Speakers Moderator: Andrew Gaffney Editor Demand Gen Report Presenter: Paul Dunay Global Director of Integrated Marketing BearingPoint

Moderator:

Andrew Gaffney

Editor

Demand Gen Report

The Need for Lead Scoring & Nurturing Andrew Gaffney Editor Demand Gen Report

Andrew Gaffney

Editor

Demand Gen Report

Marketers missing out on opportunities that are not “sales ready”. Only 20% of leads are followed up on Sales typically disqualifies 70% of leads based on lack of budget, timing, etc. 80% of those “bad leads” do go onto buy within 24 months Source: Sirius Decisions The Need For Lead Nurturing

Marketers missing out on opportunities that are not “sales

ready”.

Only 20% of leads are followed up on

Sales typically disqualifies 70% of leads based on lack of budget,

timing, etc.

80% of those “bad leads” do go onto buy within 24 months

Source: Sirius Decisions

“ Sales Nurturing” has emerged as an integral part of the overall demand generation process. Some industry stats/benchmarks to consider: 73% of companies have no process for requalifying leads; 80% of sales close after the 5 th contact In some complex industries, it typically takes between 9 and 11 touches before a deal closes Framing The Opportunity For Nurturing

“ Sales Nurturing” has emerged as an integral part of the overall

demand generation process.

Some industry stats/benchmarks to consider:

73% of companies have no process for requalifying leads;

80% of sales close after the 5 th contact

In some complex industries, it typically takes between 9 and 11 touches before a deal closes

Buyers look for different kinds of information at various points in the buying cycle. Just because they didn’t buy today doesn’t mean they won’t be interested tomorrow. Recent study from Knowledge Storm/Marketing Sherpa found 61% of technology buyers want content that directly addresses the issues they face at each point in the decision process. Frequency is also important: 85% of tech buyers said they need to encounter at least three pieces of content. Targeting The Different Phases of The Buying Cycle

Buyers look for different kinds of information at various points

in the buying cycle. Just because they didn’t buy today

doesn’t mean they won’t be interested tomorrow.

Recent study from Knowledge Storm/Marketing Sherpa found 61% of technology buyers want content that directly addresses the issues they face at each point in the decision process.

Frequency is also important: 85% of tech buyers said they need to encounter at least three pieces of content.

As organizations are realizing that the quality of leads is often more important than the quantity, lead scoring is becoming a more common practice. By targeting and profiling specific buyers during the lead generation process and then scoring leads, marketers are seeing payoffs in: Increased lead conversion rates Shorter sales cycles Improved win rates Marketing Putting More Emphasis on Lead Management

As organizations are realizing that the quality of leads is often

more important than the quantity, lead scoring is becoming a

more common practice.

By targeting and profiling specific buyers during the lead

generation process and then scoring leads, marketers are

seeing payoffs in:

Increased lead conversion rates

Shorter sales cycles

Improved win rates

Sales reps are getting less “face time” with prospects and are relying more on the marketing department to open doors and provide intelligence on new accounts. According to ABM’s 2007 Digital Transformation study, 78% of business decision makers said the amount of time they spend with sales reps has “ decreased or stayed the same during the past 12 months.” Planning Lead Generation For 2008 The New Role of Lead Generation in Pipeline Optimization

Sales reps are getting less “face time” with prospects and

are relying more on the marketing department to open

doors and provide intelligence on new accounts.

According to ABM’s 2007 Digital Transformation study, 78% of business decision makers said the amount of time they spend with sales reps has “ decreased or stayed the same during the past 12 months.”

Making Lead Nurturing Work Paul Dunay Global Director of Integrated Marketing BearingPoint

Paul Dunay

Global Director of Integrated Marketing

BearingPoint

Making Lead Nurturing Work

2 Factors Driving Lead Nurturing

Benefits of Lead Nurturing Are Enormous Increase in Qualified Leads (78%) Decrease in Sales Cycle (from months to weeks) Decrease in Cost of Sales (10% decrease) Improved Conversion Rates of those leads (1.5 - 3.0x) Increase in Quality of leads going to sales Increase in Transaction Size Increase in Marketing ROI

Increase in Qualified Leads (78%)

Decrease in Sales Cycle (from months to weeks)

Decrease in Cost of Sales (10% decrease)

Improved Conversion Rates of those leads (1.5 - 3.0x)

Increase in Quality of leads going to sales

Increase in Transaction Size

Increase in Marketing ROI

How Do You Implement Lead Nurturing?

Setting Up For Lead Nurturing 5 setup considerations: What is the definition of a lead? What are the attributes of a sales ready lead? How should I segment my database? How I score activities? Finding the right technology

5 setup considerations:

What is the definition of a lead?

What are the attributes of a sales ready lead?

How should I segment my database?

How I score activities?

Finding the right technology

Step 1: Define A Qualified Sales Lead A qualified sales lead is when… BearingPoint & prospect have had a conversation Around a specific project Need has been identified Time frame validated Budget allocated

A qualified sales lead is when…

BearingPoint & prospect have had a conversation

Around a specific project

Need has been identified

Time frame validated

Budget allocated

Step 2: Define Your Target Profile Attributes: Company size, Company type, Geographic location, Size of Revenues Position: Job Function, Title, Authority level, etc. Needs: Issues, problems, requirements Readiness: Stage in the Buy Cycle, Timeframe, Budget

Attributes:

Company size, Company type, Geographic location, Size of Revenues

Position:

Job Function, Title, Authority level, etc.

Needs:

Issues, problems, requirements

Readiness:

Stage in the Buy Cycle, Timeframe, Budget

Step 3: Segmentation Of Your Database We have what I like to call 2 way segmentation in our verticals: Solution Customer Relationship Management Enterprise Resource Planning Risk, Compliance and Security Enterprise Strategy & Transformation Finance Advisory Growth & Innovation Human Capital Information Management IT Strategy & Transformation Managed Services Merger Integration Operational Excellence Performance Management Supply Chain and Sourcing Systems Integration Technology Infrastructure Industry Automotive Aviation & Transportation Commercial Aerospace Communications Consumer Markets Education Energy & Chemicals Financial Services Government Healthcare Hospitality Life Sciences Manufacturing Media Technology

Solution

Customer Relationship Management

Enterprise Resource Planning

Risk, Compliance and Security

Enterprise Strategy & Transformation

Finance Advisory

Growth & Innovation

Human Capital

Information Management

IT Strategy & Transformation

Managed Services

Merger Integration

Operational Excellence

Performance Management

Supply Chain and Sourcing

Systems Integration

Technology Infrastructure

Industry

Automotive

Aviation & Transportation

Commercial Aerospace

Communications

Consumer Markets

Education

Energy & Chemicals

Financial Services

Government

Healthcare

Hospitality

Life Sciences

Manufacturing

Media

Technology

Step 4: Scoring Activities Look for “engagement” with the content – before having any further conversations. How many points is that engagement worth? If / then statements Is attending an event more important than a Webinar? How many activities need to happen = engagement? If nothing happens for 6 months do you reduce? My advice –> Keep it simple

Look for “engagement” with the content – before having any

further conversations.

How many points is that engagement worth?

If / then statements

Is attending an event more important than a Webinar?

How many activities need to happen = engagement?

If nothing happens for 6 months do you reduce?

My advice –> Keep it simple

Step 5: Finding The Right Technology? 3 important things to consider: Your vision will change Long term decision Pilot vs. Big Bang

3 important things to consider:

Your vision will change

Long term decision

Pilot vs. Big Bang

Let Me Show You An Example…

Lead Nurturing Email Campaigns Events Website Downloads Capture and score all leads View all leads on one dashboard Track ROI for each campaign Promote leads above set score to Sales Nurture leads with drip marketing Adwords Banner Ads

Capture and score all leads

View all leads on one dashboard

Track ROI for each campaign

Overview Of The Process Source: InTouch Marketing Pipeline Sales Pipeline Inquiries Nurturing Leads Customers Returned Prospects Email, Direct Mail, Website Downloads, Inbound Calls, Webinars, Roundtables Sales Ready Leads Not a Fit Sales Generated Leads Existing Clients Measure ROI Inside Sales Closed Loop Feedback

A Look At Some Illustrative D ata

Drill Down On One Illustrative Lead

Calculating ROI Source: InTouch

5 Key Takeaways 1. STOP throwing the baby out with the bath water. 2. Take the time upfront to define the right attributes. 3. Set up a Marketing Funnel call and invite sales. 4. Sit on the Sales Funnel calls to hear feedback on your leads. 5. Don’t attempt this in isolation.

1. STOP throwing the baby out with the bath water.

2. Take the time upfront to define the right attributes.

3. Set up a Marketing Funnel call and invite sales.

4. Sit on the Sales Funnel calls to hear feedback on your leads.

5. Don’t attempt this in isolation.

Questions

Thank you! If you would like to request a copy of today’s presentation, please email info@firstwave.net For more information please contact Lisa Cramer at lcramer@firstwave.net or 678-672-3102.