Follow the Leads: B2B Nurturing Strategies That Work with SiriusDecisions
 

Follow the Leads: B2B Nurturing Strategies That Work with SiriusDecisions

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Three in five B2B marketers send all leads directly to sales, but only a quarter of them are qualified. It’s hurting their bottom lines. ...

Three in five B2B marketers send all leads directly to sales, but only a quarter of them are qualified. It’s hurting their bottom lines.

Learn to power profits by creating a systematic, repeatable and measurable lead nurturing process with Laura Cross of SiriusDecisions. Watch her Vocus webinar replay here: http://bit.ly/1l3mElf and learn how to:

-Boost conversion rates with four proven lead nurturing programs.
-Align demand creation and lead nurturing for greater impact.
-Drive revenues by trading one-and-done tactics for a multi-touch program.

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Follow the Leads: B2B Nurturing Strategies That Work with SiriusDecisions Follow the Leads: B2B Nurturing Strategies That Work with SiriusDecisions Presentation Transcript

  • Follow the Leads: B2B Nurturing Strategies That Work! Laura Cross Research Director, Demand Creation Strategies SiriusDecisions
  • Laura Cross Research Director, Demand Creation Strategies Follow the Leads: B2B Nurturing Strategies That Work!
  • © 2014 SiriusDecisions. All Rights Reserved 3 What Is SiriusDecisions? • Leading global B2B research and advisory firm. Deliver actionable intelligence, strategic and operational frameworks and personal guidance from experience practitioners. • Founded in 2001 • Over 1,000 member clients • A variety of sizes, industries, shapes • Unique differentiators • Broad, ongoing decision support • Focus on B2B companies • SiriusDatabase: Fact-based intelligence • Where sales and marketing meet
  • © 2014 SiriusDecisions. All Rights Reserved 4 What We Provide
  • © 2014 SiriusDecisions. All Rights Reserved 5 Executive Summary • Key issues • The role of lead nurturing in B2B marketing has evolved from important to imperative • Although integrated, multi-touch programs significantly outperform one-and-done tactics, many marketers still do not apply a systematic, repeatable and complete process to lead nurturing • Demand creation programs leveraging a lead nurturing framework will have greater revenue impact
  • © 2014 SiriusDecisions. All Rights Reserved 6 Executive Summary • What you will walk away with • A framework for adding four types of lead nurturing to demand creation programs • How each type of lead nurturing affects the demand waterfall and revenue impact • An approach for building highly successful lead nurturing programs
  • Lead Nurturing: From Important to Imperative
  • © 2014 SiriusDecisions. All Rights Reserved 8 SiriusPerspective: The Evolution of B2B Demand Creation 8 Program Type Single Channel, Single Touch Multi-Channel, Multi-Touch Number of Leads Required to Close 1 Deal 15.3 7.2 Cost per Lead $400 - $650 $100 - $200 Marketing Touches 25+ 15 - 20 Programs 30+ < 30% Sourced Pipeline 18% 30%+ Integrated, multi-touch programs outperform one-and-done tactics.
  • © 2014 SiriusDecisions. All Rights Reserved 9 SiriusPerspective: Three Primary Waterfall Challenges The most effective B2B demand creators use a shared demand waterfall. A raw response or hand-raiser to outbound or inbound marketing; relatively little is known about the prospect at this point. A lead – by way of definition and service-level agreement – that is deemed ready for a receiving function to work. A lead that has been formally accepted by the receiving function, which is then compelled to work the lead in a given timeframe. A lead that has evolved into an opportunity – complete with estimated dollar value and timeframe to close. An opportunity that has come to fruition.
  • © 2014 SiriusDecisions. All Rights Reserved 10 The B2B Waterfall: Average vs. Best in Class 4.4% 66.6% 48.8% 20.3% Average 9.3% 85.0% 61.7% 29.1% B-I-C 2.89 per 1,000 inquiries 14.23 per 1,000 inquiries Observations • Best-in-class companies outperform those that are average by 5:1 • The gap has closed between average and best in class • Better-quality leads and tighter service-level agreements are leading to better SAL rates • Close rates continue to be choppy in both categories due to the difficult economy
  • © 2014 SiriusDecisions. All Rights Reserved 11 SiriusPerspective: Three Primary Waterfall Challenges The Synonym Syndrome1 1 2 Leads Actively Fall Out Leads Passively Fall Out 2 When Deals Die, Opportunities Remain 3 3 Best-in-class marketers protect against and manage lead waste.
  • © 2014 SiriusDecisions. All Rights Reserved 12 SiriusPerspective: The Nurture Debate 1 2  Missed opportunities  Poor use of sales effort  Negative buyer experience  Elevated costs Rep/partner gets leads Those not ready are set aside More leads are delivered More leads are delivered More are set aside More are set aside Today’s reality is sub-optimal for sales, marketing and the prospect.
  • Nurturing: A Framework Making the process systematic, repeatable and complete
  • © 2014 SiriusDecisions. All Rights Reserved 14 SiriusPerspective: Lead Nurturing Framework: Components • Entry • The pathway(s) for a prospect to move into a nurture flow • Treatment • The content, offers and messages used to drive incremental activity with the prospect • Transition • Signals that a prospect is ready to be moved back into an “active demand” state • Disposition • Location(s) where a nurtured prospect will be delivered 1 4 A complete nurture effort, regardless of type, is built on four pillars.
  • © 2014 SiriusDecisions. All Rights Reserved 15 SiriusPerspective: Nurture Type: Pre-MQL 1 5 Pre-MQL Nurturing before a prospect is handed off to a teleprospecting, field or channel resource 1 1 Prospects can “sit” in a variety of demand waterfall stages; thus, B2B organizations must consider multiple nurture types.
  • © 2014 SiriusDecisions. All Rights Reserved 16 SiriusPerspective: Pre-MQL Case Study: The Problem Prospects can “sit” in a variety of demand waterfall stages; thus, B2B organizations must consider multiple nurture types. • Volume of “leads” too great for sales to handle • Poor quality “leads” • No marketing automation The Situation • Inquiry to MQL near 100% • Extremely poor middle and late stage conversion rates The Metrics • Wasted marketing resources • Disengaged and inefficient field sales teamThe Result
  • © 2014 SiriusDecisions. All Rights Reserved 17 SiriusPerspective: 1 7 Touch 1 Responders to Tele Touch 2 Responders to Tele Touch 3 Responders to Tele Long-Term Nurture Tele Field Pre-MQL Case Study: The Problem Results • Lower INQ to MQL conversions with strong mid and late stage conversions • 27% more pipeline contribution • Improved sales efficiency and pipeline dynamics Prospects can “sit” in a variety of demand waterfall stages; thus, B2B organizations must consider multiple nurture types.
  • © 2014 SiriusDecisions. All Rights Reserved 18 SiriusPerspective: Nurture Type: Active and Passive Recycled 1 8 2 Active Recycled Nurturing when a prospect is rejected by a sales resource for a pre- determined reason Nurturing when a prospect has experienced no movement for a pre- determined period of time, but has not been rejected by sales Passive Recycled 2 Prospects can “sit” in a variety of demand waterfall stages; thus, B2B organizations must consider multiple nurture types.
  • © 2014 SiriusDecisions. All Rights Reserved 19 SiriusPerspective: Sample Flow: Active Recycled 1 9 DQ: Compete MARKETINGTELEFIELD Education Touch Opt out Education Touch Education Touch Complement Touch Qualify Yes No Education Touch Qualifying Touch Disqualify Re-Enter Nurture Our first sample process flow tracks what might happen if an opportunity’s resolution was a competitor purchase.
  • © 2014 SiriusDecisions. All Rights Reserved 20 SiriusPerspective: Sample Flow: Active Recycled 2 0 DQ: Compete MARKETINGTELEFIELD Education Touch Opt out Education Touch Education Touch Complement Touch Qualify Yes No Education Touch Qualifying Touch Disqualify Re-Enter Nurture Our first sample process flow tracks what might happen if an opportunity’s resolution was a competitor purchase. Process starts with the reason
  • © 2014 SiriusDecisions. All Rights Reserved 21 SiriusPerspective: Sample Flow: Active Recycled 2 1 DQ: Compete MARKETINGTELEFIELD Education Touch Opt out Education Touch Education Touch Complement Touch Qualify Yes No Education Touch Qualifying Touch Disqualify Re-Enter Nurture Our first sample process flow tracks what might happen if an opportunity’s resolution was a competitor purchase. Marketing takes the lead
  • © 2014 SiriusDecisions. All Rights Reserved 22 SiriusPerspective: Sample Flow: Active Recycled 2 2 DQ: Compete MARKETINGTELEFIELD Education Touch Opt out Education Touch Education Touch Complement Touch Qualify Yes No Education Touch Qualifying Touch Disqualify Re-Enter Nurture Our first sample process flow tracks what might happen if an opportunity’s resolution was a competitor purchase. Theme takes the DQ reason into account
  • © 2014 SiriusDecisions. All Rights Reserved 23 SiriusPerspective: Sample Flow: Active Recycled 2 3 DQ: Compete MARKETINGTELEFIELD Education Touch Opt out Education Touch Education Touch Complement Touch Qualify Yes No Education Touch Qualifying Touch Disqualify Re-Enter Nurture Our first sample process flow tracks what might happen if an opportunity’s resolution was a competitor purchase. Behavior dictates whether touches can be “evolved”
  • © 2014 SiriusDecisions. All Rights Reserved 24 SiriusPerspective: Sample Flow: Active Recycled 2 4 DQ: Compete MARKETINGTELEFIELD Education Touch Opt out Education Touch Education Touch Complement Touch Qualify Yes No Education Touch Qualifying Touch Disqualify Re-Enter Nurture Our first sample process flow tracks what might happen if an opportunity’s resolution was a competitor purchase. Time measured in quarters; can extend indefinitely
  • © 2014 SiriusDecisions. All Rights Reserved 25 SiriusPerspective: Sample Flow: Active Recycled 2 5 DQ: Compete MARKETINGTELEFIELD Education Touch Opt out Education Touch Education Touch Complement Touch Qualify Yes No Education Touch Qualifying Touch Disqualify Re-Enter Nurture Our first sample process flow tracks what might happen if an opportunity’s resolution was a competitor purchase.
  • © 2014 SiriusDecisions. All Rights Reserved 26 SiriusPerspective: Sample Flow: Passive Recycled 2 6 DQ: Passive MARKETINGTELEFIELD Call One Followup Touch 0 W1 W2 Touch followup/content No Connect Connect Call Two Re-qual DQ No Connect Connect Followup Touch Our second sample process flow tracks what might happen if a lead is pulled from sales.
  • © 2014 SiriusDecisions. All Rights Reserved 27 SiriusPerspective: Sample Flow: Passive Recycled 2 7 DQ: Passive MARKETINGTELEFIELD Call One Followup Touch 0 W1 W2 Touch followup/content No Connect Connect Call Two Re-qual DQ No Connect Connect Followup Touch Our second sample process flow tracks what might happen if a lead is pulled from sales. Tele takes the lead
  • © 2014 SiriusDecisions. All Rights Reserved 28 SiriusPerspective: Sample Flow: Passive Recycled 2 8 DQ: Passive MARKETINGTELEFIELD Followup Touch 0 W1 W2 Touch followup/content No Connect Connect Call Two Re-qual DQ No Connect Connect Followup Touch Our second sample process flow tracks what might happen if a lead is pulled from sales. Marketing provides backing support Call One
  • © 2014 SiriusDecisions. All Rights Reserved 29 SiriusPerspective: Sample Flow: Passive Recycled 2 9 DQ: Passive MARKETINGTELEFIELD Followup Touch 0 W1 W2 Touch followup/content No Connect Connect Call Two Re-qual DQ No Connect Connect Followup Touch Our second sample process flow tracks what might happen if a lead is pulled from sales. Telephone and email are combined Call One
  • © 2014 SiriusDecisions. All Rights Reserved 30 SiriusPerspective: Sample Flow: Passive Recycled 3 0 DQ: Passive MARKETINGTELEFIELD Followup Touch 0 W1 W2 Touch followup/content No Connect Connect Call Two Re-qual DQ No Connect Connect Followup Touch Our second sample process flow tracks what might happen if a lead is pulled from sales. Leads DQ’ed go to long-term nurturing Call One
  • © 2014 SiriusDecisions. All Rights Reserved 31 SiriusPerspective: Sample Flow: Passive Recycled 3 1 DQ: Passive MARKETINGTELEFIELD Followup Touch 0 W1 W2 Touch followup/content No Connect Connect Call Two Re-qual DQ No Connect Connect Followup Touch Our second sample process flow tracks what might happen if a lead is pulled from sales. Time measured in weeks Call One
  • © 2014 SiriusDecisions. All Rights Reserved 32 SiriusPerspective: Sample Flow: Passive Recycled 3 2 DQ: Passive MARKETINGTELEFIELD Followup Touch 0 W1 W2 Touch followup/content No Connect Connect Call Two Re-qual DQ No Connect Connect Followup Touch Our second sample process flow tracks what might happen if a lead is pulled from sales. Call One
  • © 2014 SiriusDecisions. All Rights Reserved 33 SiriusPerspective: Nurture Type: Reconstituted 3 3 Nurturing when a once-engaged opportunity has had no activity for months or even quarters Reconstituted3 3 Prospects can “sit” in a variety of demand waterfall stages; thus, B2B organizations must consider multiple nurture types.
  • © 2014 SiriusDecisions. All Rights Reserved 34 SiriusPerspective: Sample Flow: Reconstituted 3 4 MARKETINGTELEFIELD Touch One 0 D1 D4 Leads Gathered D7 Touch Two Touch Three Requal Requal Time bounded, reconstituted nurture programs are the easiest type of nurture to plan and execute.
  • © 2014 SiriusDecisions. All Rights Reserved 35 SiriusPerspective: Sample Flow: Reconstituted 3 5 MARKETINGTELEFIELD Touch One 0 D1 D4 Leads Gathered D7 Touch Two Touch Three Requal Requal Time bounded, reconstituted nurture programs are the easiest type of nurture to plan and execute. Even split between marketing and tele
  • © 2014 SiriusDecisions. All Rights Reserved 36 SiriusPerspective: Sample Flow: Reconstituted 3 6 MARKETINGTELEFIELD Touch One 0 D1 D4 Leads Gathered D7 Touch Two Touch Three Requal Requal Time bounded, reconstituted nurture programs are the easiest type of nurture to plan and execute. Theme dependent on age of dead opportunities (same v. complementary)
  • © 2014 SiriusDecisions. All Rights Reserved 37 SiriusPerspective: Sample Flow: Reconstituted 3 7 MARKETINGTELEFIELD Touch One 0 D1 D4 Leads Gathered D7 Touch Two Touch Three Requal Requal Time bounded, reconstituted nurture programs are the easiest type of nurture to plan and execute. Touches scored and aggregated, or any touch can be moved on
  • © 2014 SiriusDecisions. All Rights Reserved 38 SiriusPerspective: Sample Flow: Reconstituted 3 8 MARKETINGTELEFIELD Touch One 0 D1 D4 Leads Gathered D7 Touch Two Touch Three Requal Requal Time bounded, reconstituted nurture programs are the easiest type of nurture to plan and execute. Time measured in days
  • © 2014 SiriusDecisions. All Rights Reserved 39 SiriusPerspective: Sample Flow: Reconstituted 3 9 MARKETINGTELEFIELD Touch One 0 D1 D4 Leads Gathered D7 Touch Two Touch Three Requal Requal Time bounded, reconstituted nurture programs are the easiest type of nurture to plan and execute.
  • © 2014 SiriusDecisions. All Rights Reserved 40 SiriusPerspective: Nurturing Framework: A Checklist 4 0 Pre-MQL Recycled: Active Recycled: Passive Reconstituted Entry • Target market agreement (companies, entry points) • Complete, clean list (owned or purchased) • Inbound marketing strategy • Disqualification reasons • CRM-to-MAP prospect feed • Visibility rules (e.g. can sales still see active nurture prospects) • Service-level agreements (if any prospects will go to tele) • Time thresholds for lead inactivity • Warning system (first-line manager, sales rep) • Service-level agreements (field to tele) • Aging opportunity parameters • Segmentation rules • List pull process Treatment • Need-based campaign structure • Decision-based demand program • Conversion-optimized Web site • Content • Information collection strategy (categories, gating approach) • Hierarchical touch strategy (reason, category of interest, vertical, role) • Scripts/templates (if tele is involved) • Information collection strategy • Teleprospecting scripts • Email templates • Pre-call/post-call content • Multi-touch reconstituted program • Content to serve • Information collection strategy Transition • Lead scoring schematic(s) • Lead definition threshold(s) • Lead scoring schematic(s) • Tele-triggers/definitions • Sales removal permissions • Contact rules (number of times dialed/emailed) • Requalification rule set • Lead scoring schematic Disposition • Marketing automation/CRM linkages • Service-level agreements (marketing to tele, marketing to field) • Lead bypass rule set • Procedural rejection rules • Service-level agreements (marketing to tele, tele to field) • Lead bypass rule set • Procedural rejection rules • Non-qualifier/no contact pass (tele to marketing) • Qualifier pass (tele to field) • Non-qualifier/no contact pass (into long-term recycling) • Qualifier pass (tele to field) Use our checklist to determine your readiness.
  • Final Thoughts
  • © 2014 SiriusDecisions. All Rights Reserved 42 Action Items • Audit current nurturing initiatives against the SiriusDecision Lead Nurturing Framework • Implement appropriate nurture types in your demand creation programs • Create or audit service-level agreement (SLA) with sales to ensure SiriusDecision Lead Nurturing Framework adherence 4 2
  • Question and Answer Please enter your questions for the speaker in the Q&A box of your audience console. Alternatively you may tweet your questions using #VocusWebinar.
  • The Vocus Family About Vocus Vocus (NASDAQ: VOCS) provides leading cloud-based marketing and public relations software that enables companies to acquire and retain customers. The company offers products and services to help clients attract and engage prospects, nurture and convert customers, and measure and improve marketing effectiveness. More than 16,000 annual subscription customers across a wide variety of industries use Vocus software. The company is headquartered in Beltsville, MD with offices in North America, Europe and Asia. For more information, visit http://www.vocus.com or call (800) 345-5572. PR Suite | Marketing Suite Online News Releases Publicity Email Marketing @Vocus @PRWeb @Helpareporter @iContact