MANAGING THE LIFECYCLE OFLARGE SALESJoe GelataOctober 23, 2012
Introduction• Who am I?  – Sales, Marketing, and Operations  – Start-ups to Enterprise and Agency  – Technology, Finance, ...
Agenda•   Marketing & Sales Alignment•   Marketing & Sales Funnel•   Sales Enablement•   Nurturing•   Closing the Loop•   ...
Marketing & Sales Alignment   Running in the Same Direction
Marketing & Sales Alignment• Marketing & Sales must be aligned to  properly manage the revenue cycle• Create a ‘Revenue Pr...
Marketing & Sales Alignment• Service Level Agreements  – How many leads should Marketing pass?  – How should they be quali...
Marketing & Sales Alignment• Lead Handoff  – What is a Marketing Qualified Lead (MQL)?     • BANT (Budget, Authority, Need...
Marketing & Sales Alignment• Communication Alignment  – Map who communicates with a lead and when  – ‘Marketing Blackout’ ...
Marketing & Sales Funnel    Mapping the Process
Mapping the Funnel• Before you can manage you must understand• Map your revenue process in detail
Mapping the Funnel
SiriusDecisions Demand Waterfall
Sales EnablementHow Marketing Supports Sales
Sales Enablement• Marketing helps push deals through pipeline• Create ‘Content/Tools Matrix’• Examples  – Data sheets, dem...
Sales EnablementSample Content MatrixProduct     Alignment          Proof              CommercialProduct A   Content Requi...
Sales Enablement• Salesforce.com Content  – Stores searchable content for Sales  – Provides email delivery tool  – Items c...
Sales Enablement
Sales Enablement• Eloqua Profiler  – Provide prospect engagement data to Sales  – Window into Marketing Automation
Sales Enablement
NurturingABN – Always be Nurturing!
NurturingSource: Sirius Decisions               Within 24 months                                       from YOU or your   ...
Nurturing                  Wait 6 days                     Wait 5 days• Email 1                       • Email 2           ...
Email Nurturing  • Nurture at all points of the revenue cycleInterest    Learn          Evaluate        Justify          P...
Closing the LoopOptimizing Performance
Closing the Loop• Report on each step of the revenue process• Track results and where they came from• Tie results back to ...
Closing the Loop
Closing the Loop• Focus on KPIs  – Campaign Attribution    (ROI)  – Time in Stage (Velocity)  – Funnel Leakage  – Size of ...
Revenue Performance Management• A discipline that optimizes the revenue engine• Complex process but basic concept is valid...
Revenue Performance Management Revenue Growth  2007 to 2010• S&P 500: 15%• Eloqua Customers: 34%• RPM Users: 58%   Source:...
Revenue Performance Management• Case Study: Platts  – Lead to Opportunity conversion: 23% to 31%  – Marketing contribution...
CRMTech to Support the Sales Cycle
CRM: Concepts•   Architecture          •   Opportunity Stages•   Lead Models           •   Data Quality•   Assigning Leads...
CRM: ArchitectureLead•A lead is a prospect or potential Opportunity - a person you met at a conference who expressed inter...
CRM: Architecture                       Account       ConvertLead                                 Opportunity             ...
CRM: Lead Models• Point of Contact  – 1 lead record for each prospect  – Usually identified by email address  – No duplica...
CRM: Assigning LeadsQueue Based                                                          Rules Based  Queue can be Product...
CRM: Lead Status• Picklist field that shows the status of a lead• Example:  – Untouched  – In Progress  – Automation Quali...
CRM: Lead Status• Rejection Reasons are important• Example:  – Poor Fit  – Poor Data Quality  – Reassign  – Lost to Compet...
CRM: Lead Source• Picklist field that shows the source of a lead• Can track ‘Original’ and ‘Most Recent’• Example:  – Webs...
CRM: Opportunity Stage• Similar to ‘Lead Status’ but at opportunity• Example:  – Discovery  – Alignment  – Proof  – Commer...
CRM: Opportunity Stage• Closed Reasons are important• Example:  – No Opportunity  – Not a Fit  – Lost to Competitor  – Dup...
CRM: Data Quality•   Develop a Data Quality Strategy•   Monitor field completeness•   Use mandatory fields•   3rd party so...
CRM: Activity Tracking• Activity records linked to major CRM objects• Track all past and future interactions with the  pro...
CRM: Converting Leads• Convert when lead reaches an opportunity  – Lead record converts to a Contact, Account, and    Oppo...
CRM: Reporting•   Reports can be saved for easy access•   Calculations are automated in real-time•   Dashboards are availa...
Marketing AutomationTech to Support the Sales Cycle
Marketing Automation• Generates inbound and outbound leads• Can be integrated with CRM to automate  transfer of data (e.g....
Marketing Automation• Features                    – Event Automation  –   Contact Database        – Automated Data Cleanse...
SummaryAlmost there!
Summary•   Align Marketing & Sales•   Map the Revenue Funnel•   Enable Sales•   Nurture•   Close the Loop•   CRM•   Market...
Questions
Contact       Joe Gelatajoe@revenue-engineer.com   @RevenueEngineerwww.revenue-engineer.com
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Managing the Lifecycle of Large Sales

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Managing the Lifecycle of Large Sales looks at methods to make your revenue funnel run more effectively. We will discuss examples of revenue funnels, examine the importance of aligning marketing and sales, and dive into best practices for reporting and how to action on reported data. We'll also explores Marketing Automation and CRM as platforms to support the revenue funnel as well as tools and marketing tactics that can better enable sales and drive revenue.

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  • Revenue Performance Management (RPM)
  • 80% of all leads generated by marketing are not followed up by salesOf the remaining 20%, 70% are discarded by sales as not being qualified. So, less than 10% of all leads are actually followed upAnd here’s the kicker – 80% of the leads at the top of the funnel will eventually buy within the next 24 months from you or your competitors. The problem is that you can’t follow up with all leads between your sales and inside sales team or keep the fires burning – here’s where lead nurturing comes inSo if I have 1000 leads; 200 get followed up and 60 get qualified.What’s happening with the other 940 leads? Nurturing allows us to continue the conversation, learn more about each other, and provides additional opportunities to get them into the opportunity queue.The opposite of nurturing is “one and done.” One-way, single communication. “Hey world, we have a product – are you interested?”
  • Results from Platts>Lead to Opportunity conversion rate increased from 23% to 31%>Marketing Contribution to Revenue rate increased from 22% to 28%
  • Results from Platts>Lead to Opportunity conversion rate increased from 23% to 31%>Marketing Contribution to Revenue rate increased from 22% to 28%
  • MA Features:>Contact Database – full, sub synced with CRM>Contact Segmentation – quick, targeted>Email Engine – sender score>Hosted Forms & Landing Pages – stand alone/embed>Personalization – emails and landing pages>Dynamic Content – per segmentation>Lead Nurturing – segmentation, activity driven, dynamic content>Lead Scoring: explicit (title, revenue, etc) and implicit (behavior such as web visits, downloads, email opens, etc)>A/B testing – email/ landing pages>Event Automation - invitations, registration, follow-up)>Automated Data Cleansing & standardization (data cleansing can help create 7x number of inquires and 4x number of leads – Eloqua benchmark study 2010)>Progressive Profiling on forms – collect less fields, increase submits>Contact Level Activity Tracking – sync to CRM>Marketing Dashboard – all stakeholders>Integration with CRM>Integration with 3rd Party Apps (e.g. Cloud Connectors – integrate SMS messaging, video tracking, contact data enhancement, etc)
  • Managing the Lifecycle of Large Sales

    1. 1. MANAGING THE LIFECYCLE OFLARGE SALESJoe GelataOctober 23, 2012
    2. 2. Introduction• Who am I? – Sales, Marketing, and Operations – Start-ups to Enterprise and Agency – Technology, Finance, Legal, Retail, Government… – Local to Global – Focus on process management and technology to drive revenue • CRM, Marketing Automation, BI
    3. 3. Agenda• Marketing & Sales Alignment• Marketing & Sales Funnel• Sales Enablement• Nurturing• Closing the Loop• CRM• Marketing Automation
    4. 4. Marketing & Sales Alignment Running in the Same Direction
    5. 5. Marketing & Sales Alignment• Marketing & Sales must be aligned to properly manage the revenue cycle• Create a ‘Revenue Process Document’ – Ensures use of standards across the organization – Reduces confusion and aids in conflict resolution – Get signoff from ALL stakeholders
    6. 6. Marketing & Sales Alignment• Service Level Agreements – How many leads should Marketing pass? – How should they be qualified? – How quickly should Sales follow-up? – What kind of follow-up is required?• Responsibility of everyone involved
    7. 7. Marketing & Sales Alignment• Lead Handoff – What is a Marketing Qualified Lead (MQL)? • BANT (Budget, Authority, Need, Timing) – How does handoff occur? • How are leads sent and accepted/rejected – Track rejection reasons • Ensures leads aren’t missed
    8. 8. Marketing & Sales Alignment• Communication Alignment – Map who communicates with a lead and when – ‘Marketing Blackout’ period• Definitions (e.g. what is a ‘lead’)• Workflows with supporting descriptions
    9. 9. Marketing & Sales Funnel Mapping the Process
    10. 10. Mapping the Funnel• Before you can manage you must understand• Map your revenue process in detail
    11. 11. Mapping the Funnel
    12. 12. SiriusDecisions Demand Waterfall
    13. 13. Sales EnablementHow Marketing Supports Sales
    14. 14. Sales Enablement• Marketing helps push deals through pipeline• Create ‘Content/Tools Matrix’• Examples – Data sheets, demo videos – Email templates – ROI Calculator – Nurture campaigns
    15. 15. Sales EnablementSample Content MatrixProduct Alignment Proof CommercialProduct A Content Required ROI Calculator Technical VideosProduct B Data sheet ROI Calculator Email templateProduct C Data sheet Content Required Technical Videos, email template
    16. 16. Sales Enablement• Salesforce.com Content – Stores searchable content for Sales – Provides email delivery tool – Items can be modified/personalized
    17. 17. Sales Enablement
    18. 18. Sales Enablement• Eloqua Profiler – Provide prospect engagement data to Sales – Window into Marketing Automation
    19. 19. Sales Enablement
    20. 20. NurturingABN – Always be Nurturing!
    21. 21. NurturingSource: Sirius Decisions Within 24 months from YOU or your competitor
    22. 22. Nurturing Wait 6 days Wait 5 days• Email 1 • Email 2 • Email 3 • Call 1 • Call 2 Wait 5 days Wait 4 days Wait 10 days
    23. 23. Email Nurturing • Nurture at all points of the revenue cycleInterest Learn Evaluate Justify Purchase• Welcome • Education • Competitive • ROI Campaign • Onboarding Program Campaign Campaign Campaign • Customer Loyalty Program
    24. 24. Closing the LoopOptimizing Performance
    25. 25. Closing the Loop• Report on each step of the revenue process• Track results and where they came from• Tie results back to source – Show what worked and what didn’t – Plan accordingly• CRM is key to tracking and reporting – Automates data collection – Customize Reports & Dashboards
    26. 26. Closing the Loop
    27. 27. Closing the Loop• Focus on KPIs – Campaign Attribution (ROI) – Time in Stage (Velocity) – Funnel Leakage – Size of Funnel (Reach) – Rejection Reasons – Weighted Pipeline (Value) – Total Revenue Conversion
    28. 28. Revenue Performance Management• 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”
    29. 29. Revenue Performance Management Revenue Growth 2007 to 2010• S&P 500: 15%• Eloqua Customers: 34%• RPM Users: 58% Source: Eloqua
    30. 30. Revenue Performance Management• Case Study: Platts – Lead to Opportunity conversion: 23% to 31% – Marketing contribution to revenue: 22% to 28% Source: Eloqua
    31. 31. CRMTech to Support the Sales Cycle
    32. 32. CRM: Concepts• Architecture • Opportunity Stages• Lead Models • Data Quality• Assigning Leads • Activity Tracking• Lead Status • Converting Leads• Lead Source • Reporting
    33. 33. CRM: ArchitectureLead•A lead is a prospect or potential Opportunity - a person you met at a conference who expressed interest, or someone who filled out a form on your company’s website.Account•Accounts are your organizations customers, competitors, and partners. Each account stores information such as name, address, and phone numbers. For each account, you can store related information such as opportunities, activities, cases, partners, contracts, and notes.Contact•Contacts are all of the individuals associated with your business accounts that you need to track in Salesforce. You can store various information for a contact, such as phone numbers, addresses, titles, and roles in a deal.Opportunity•Opportunities are the sales and pending deals that you want to track. By adding opportunities, you are also building your “pipeline,” which will contribute to your forecast. You can also link opportunities to campaigns to help measure the ROI of your marketing programs.Campaign•A campaign is an outbound marketing project that you want to plan, manage, and track within Salesforce. It can be a direct mail program, seminar, print advertisement, email, or other type of marketing initiative.
    34. 34. CRM: Architecture Account ConvertLead Opportunity Contact Campaign & Activities
    35. 35. CRM: Lead Models• Point of Contact – 1 lead record for each prospect – Usually identified by email address – No duplication of leads• Point of Interest – A lead represents an interest – Could be a company, department, person – Leads are duplicated for each interest
    36. 36. CRM: Assigning LeadsQueue Based Rules Based Queue can be Product, Geo, Size, Vertical Geo, Product, Vertical, Size Round Robin Fill the empties Lead assigned to Lead Assign one move on… Assign to Lead Owner withCherry Picking Next in Line Owner repeat lowest number of Leads
    37. 37. CRM: Lead Status• Picklist field that shows the status of a lead• Example: – Untouched – In Progress – Automation Qualified – Tele Qualified – Sales Accepted – Rejected
    38. 38. CRM: Lead Status• Rejection Reasons are important• Example: – Poor Fit – Poor Data Quality – Reassign – Lost to Competitor
    39. 39. CRM: Lead Source• Picklist field that shows the source of a lead• Can track ‘Original’ and ‘Most Recent’• Example: – Website – Tradeshow – Purchased List – Referral
    40. 40. CRM: Opportunity Stage• Similar to ‘Lead Status’ but at opportunity• Example: – Discovery – Alignment – Proof – Commercial – Decision – Closed Won/Lost
    41. 41. CRM: Opportunity Stage• Closed Reasons are important• Example: – No Opportunity – Not a Fit – Lost to Competitor – Duplicate Opportunity
    42. 42. CRM: Data Quality• Develop a Data Quality Strategy• Monitor field completeness• Use mandatory fields• 3rd party sources available to validate/fill data – Databases: Data.com, Jigsaw, D&B, InsideView – Tele-agencies: Virtual Causeway
    43. 43. CRM: Activity Tracking• Activity records linked to major CRM objects• Track all past and future interactions with the prospect• Reports can show if Sale is following-up
    44. 44. CRM: Converting Leads• Convert when lead reaches an opportunity – Lead record converts to a Contact, Account, and Opportunity• One theory believes you should convert all leads once they have been qualified out – Contact remains single data store going forward – Reduces risk of duplicate leads
    45. 45. CRM: Reporting• Reports can be saved for easy access• Calculations are automated in real-time• Dashboards are available• Reports/Dashboards can be scheduled and emailed
    46. 46. Marketing AutomationTech to Support the Sales Cycle
    47. 47. Marketing Automation• Generates inbound and outbound leads• Can be integrated with CRM to automate transfer of data (e.g. leads)• Facilitates nurture campaigns
    48. 48. Marketing Automation• Features – Event Automation – Contact Database – Automated Data Cleanse – Contact Segmentation – Dynamic Content – Email Engine – Progressive Profiling – Forms & Landing Pages – Contact Level Activity – Personalization Tracking – Lead Nurturing – Marketing Dashboard – Lead Scoring – Integration with CRM – A/B Testing – Integration with 3rd Party Apps
    49. 49. SummaryAlmost there!
    50. 50. Summary• Align Marketing & Sales• Map the Revenue Funnel• Enable Sales• Nurture• Close the Loop• CRM• Marketing Automation
    51. 51. Questions
    52. 52. Contact Joe Gelatajoe@revenue-engineer.com @RevenueEngineerwww.revenue-engineer.com
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