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Lead Gen & Customer Conversions - Filling the Funnel and Getting Revenue
 

Lead Gen & Customer Conversions - Filling the Funnel and Getting Revenue

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This presentation gives a high level overview of funnel theory then dives into methods to fill, convert, and enhance your revenue funnel. It finishes with some tips and lessons learned.

This presentation gives a high level overview of funnel theory then dives into methods to fill, convert, and enhance your revenue funnel. It finishes with some tips and lessons learned.

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    Lead Gen & Customer Conversions - Filling the Funnel and Getting Revenue Lead Gen & Customer Conversions - Filling the Funnel and Getting Revenue Presentation Transcript

    • Lead Generation & Customer Conversions:Filling The Funnel and Getting Revenue Joe Gelata February 29, 2012
    • Agenda• Intro & Definitions• Funnel Theory• Filling the Funnel• Converting the Funnel• Improving the Funnel• Rules of the Road
    • Introduction• Who am I? – Sales, Marketing, and Operations – Late-stage Start-ups to Enterprise and Agency – Technology, Finance, Legal, Retail… – Local to Global – Focus on process management and technology to drive revenue • CRM, Marketing Automation, BI, RPM
    • Definitions• Revenue Engine: systems and processes that drive revenue from suspect to deal close• Funnel: a group of measurable stages within a process, each further qualifying a prospect• Demand Gen: creating demand for your offering• Lead Gen: process of capturing leads• Lead Management: process of converting a lead to a sale• KPI: Key Performance Indicator• RPM: Revenue Performance Management
    • Funnel TheoryThe Old & The New
    • Funnel Theory• Metaphor to illustrate the top-down stages of the revenue process• Top is high volume but lightly qualified• Bottom is low volume but highly qualified• Goal is to push max volume to the bottom
    • Sales• 1:1 communication• Qualified Prospect• Many Sales Models• CRM Technology
    • Lead Generation • 1:N communication • Inbound & Outbound • Lead acquisition and initial qualification • Marketing Automation
    • Demand Generation • N:N communication • Inbound • Social interaction • Initial touch point • Social CRM
    • Funnel Theory• Is the funnel dead? – Probably (time for a new logo!) – BUT the basic theory still applies – It can help simplify your processes
    • The Traditional Funnel
    • The New Funnel
    • The New Funnel• The revenue lifecycle is no longer linear• Prospects can enter/exit at any point and travel backwards• The stages are shifting
    • Stage Interaction • Marketing does more qualification • Social influence grows • Social > Lead Gen • Lead Gen > Sales
    • Funnel Tips• Match stages to customers buying habits• Make sure you can track the stages• Map activity at each stage to its goal• Document your stages and processes
    • Filling the Funnel More In, More Out
    • Filling the Funnel• Goal: – Drive prospects into the funnel• Result: – More leads in = more revenue out
    • Social Acquisition • Find and join the conversation – Facebook, LinkedIn, Twitter, Blogs, Forms, Communities • Use relevant content to get attention • Cheap but time consuming • Content creation – Rule of 7
    • Lead Generation • Also content driven • Map content to funnel stage • Trade for contact info – “Contact Knowledgebase” • Campaign Offers: – Webinars – Whitepapers – Downloads & Trials – Seminars, Conferences, an d Tradeshows – etc.
    • Lead Generation • Inbound and Outbound Channels – SEO – PPC – Advertising – Email – Direct Mail – Telemarketing – Partnerships
    • Sales• Cold/Warm Calling• Referrals• Existing Customers
    • Converting the FunnelKeeping the Pipeline Flowing
    • Converting the Funnel• Goal: – Push prospects through the funnel• Result: – More conversions = more revenue
    • Demand Conversion • Create enough interest to drive prospects to Lead Gen stage – Solid messaging – Interesting content • Provide clear and easy path – Links to website, high value content, contact info
    • Lead Conversion • Collect contact info • Qualify leads – Type of content consumed – Lead Scoring • Educate prospects • Nurture them until sales ready
    • Sales Conversion • Remove purchasing obstacles • Guide prospect through purchase decision • Final conversion to revenue
    • Improving the Funnel RPM 101
    • Importance of OptimizationSource: Sirius Decisions, courtesy of Eloqua
    • RPM• A discipline that optimizes the revenue engine• Complex process but basic concept is valid anywhere• Eloqua: “A systematic approach to identifying the drivers and impediments to revenue, rigorously measuring them, and then pulling the economic levers that will optimize top line growth”
    • RPM Implementation• Focus on KPIs – Campaign Attribution (ROI) – Time in Stage (Velocity) – Funnel Leakage – Size of Funnel (Reach) – Rejection Reasons – Weighted Pipeline (Value) – Total Revenue Conversion
    • RPM ResultsRevenue Growth2007 to 2010•S&P 500: 15%•Eloqua Customers: 34%•RPM Users: 58%
    • Rules of the Road Beware of Potholes
    • Rules of the Road• Keep it simple / Don’t boil the ocean• Process first, then technology• Beware of best practices• Experiment and monitor• Focus on KPI’s, not metrics
    • SummaryAlmost there!
    • Summary• Funnel Theory• Filling the Funnel• Converting the Funnel• Improving the Funnel
    • Questions
    • Contact Joe Gelatajoe@revenue-engineer.com @RevenueEngineerwww.revenue-engineer.com