* Employ automated messaging to keep leads moving through your sales funnelAutomated messages become critical in your efforts to ensure that leads aren’t lost in a “black hole” – and to do this in such a way as to not overtax your existing resources. Creating one-off campaigns for every action is simply not an achievable goal – you need to automate these in order to make consistent, replicatable gains.
Lead nurturing programs are automated dialogs with qualified prospects till they exhibit enough interest to be handed off to Sales.
* Convert more prospects into leads, and more leads into sales
Need to have clear SLA’s and a bi-directional funnel to capture folks that aren’t sales readySDRsPass to salesReturn to marketing for further nurturing But how do you differentiate between leads? Through lead scoring.
Steps to Increase Conversion Rates & Revenue – Know your leads by keeping scoreScoring is unique to different industries and organizations. Both profile(title industry location) or Behavior (downloaded a WP – attended Webinar visited theses 4 webpages)BANT – Budget / Authority / Need / Timeline may be usedScoring is not a set-it and forget-it function; it’s as much an art as a science. You need constant feedback from the sales team as to how the leads are responding – and tweaks will need to be made.Key here: not every lead is sales-ready. Some leads require more nurturing from marketing – utilizing lead scoring will help filter those out.
Lead Nurturing and Marketing Automation
Lead Nurturing and Marketing Automation:Going from Chaos to Kick-Ass Presented June 6, 2012
AgendaDevelop a framework to evaluate, rank and nurture leadsFit leads into the sales processAlign communication between marketing and salesEmploy automated messaging to keep leads moving through yoursales funnelConvert more prospects into leads, and more leads into sales
Something’s got to change Up to 94% of leads turned over to sales by marketing are raw, unfiltered … and never followed up onSource: SiriusDecisions
Something’s got to change Only half of sales reps are making quotaSource: Marketo
Something’s got to change Many companies close a fraction of the deals they couldSource: SiriusDecisions
The ProblemMarketing Sales Focused on GAP Focused on revenuelead quantity generation
The Cause 5 Reasons why Sales and Marketing are not Aligned• Lack of accurate market definition• Lack of standard lead definition• Focus on quantity instead of quality• Failing to measure what matters• Silo approach – failure to pass leads back and forth
The CostQuota attainment Quota trends since 2006 since 2006
The Problem • Bridge the organizationsMarketing Sales • Eliminate lead leakage • Implement an integrated approach to: • Managing response Focused on Focused on • Qualifying leads revenuelead quantity • Engaging prospects generation • Nurturing opportunities
Align Leads with the Sales Process• Find a pain (or a need)• Get agreement there is pain• Get agreement to do something about the pain• Agree on a generic solution• Agree on a customized, specific solution
Five Actions to Take• Accurate market definition• Standard lead definition• Focus on quality, not just quantity• Measure what matters• Tear down silos, allow leads to be passed back and forth
Accurate Market Definition The power of relational segmentation 1,000 Marketing Equally Sized SamplesCompanies Sample Lead Rate # of Leads size 200 9% 18 32 leads (64%) 200 7% 14 = 40% of spend 5% 200 5% 10Lead Rate 42 leads (84%) 200 3% 6 = 60% of spend 200 1% 2 1,000 5% 50 50 Leads
Standard Lead DefinitionIdentify Document ValidateSIC or NAICS Code Environment BudgetFirmographics Critical Business Decision Process IssuesDecision makers Competitive Compelling Event Landscape
Why Your Sales Force Needs Fewer Leads• Too many raw, unqualified leads can create a clogged marketing and sales process and an unhealthy funnel• More leads don’t equal more success
Measure What Matters Average 1,000 Suspects Optimized4.4% (44) MQL 9.3% (93)66.6% (29) SAL 85% (79)48.8% (14) SQL 61.7% (49)20.3% (2.8) Close 29.1% (14.3) Source: SiriusDecisions
Types of Automated MessagesDrip Programs • Maintain prospect mindshare until they are sales-ready • Recycle leads that were found to be not ready • Deliver sequence of relevant and personalized communications -- at appropriate intervalsTriggered Emails • Follow-up email from registration form • Webinar confirmation & reminder emails • Actions taken on website
Prospects -> Leads -> Sales THE KEY is to identify who’s responsible at each stage of the funnel – and tounderstand where leads are in the cycle
The Funnel Word of mouth• Top of funnel:• Top of funnel: Marketing Marketing Marketing• Middle of funnel:• Middle of funnel: Lead qualification Lead qualification Raw leads Lead• Bottom of funnel: Qualified leads Qual Sales team• Bottom of funnel: Sales team Sales prospects Sales #AOWEB
Keep Score• Custom to Meet your Needs • Profile Based • Behavior Based • B.A.N.T.
What activities should I score?Email Marketing Web Visits Webinars• Clicked on message • How many pages did they • Attendees vs. Non-Attendees• More points for specific visit? • Who visited registration page messages • Which pages did they visit: but didn’t submit• Do not assign score for: Contact Us and/or Pricing vs• “Email sent” – no action Support? taken on their part • How often do they visit the• “Opens” site? • Where did they come from?Forms Pay-Per-Click Other Demand Gen • Download whitepaper or• Submitted /viewed form • Which keywords perform the media?• How did they respond to the best? • Attended a trade show / questions? • What is my cost per click? physical event?• Is the data they provided • Where did they come from? • Which mailing lists performed valid? the best?• Do they fit your target • Which print advertising audience? generates leads? #AOWEB
Lead Scoring Example Example • Youre a small software company that sells patch management software. • You have two offices, one in Asia and one in the US, but you arent global yet. • Your software isnt cheap, so you need prospects with reasonably large budgets.Registration Question Excellent Prospect Okay Prospect Bad ProspectJob Title IT Director 5 System 3 Sales Engineer -4 AdministratorLocation of United States 5 Hong Kong 4 Romania -5HeadquartersCompany Size > 5,000 4 1,000 - 5,000 2 < 1,000 -2Industry Information 5 Computer 4 Automotive -5 Technology Software ServicesBudget > 50,000 4 10,000 - 50,000 3 < 10,000 -2 Implicit Online Behaviour Point ValueVisitor downloaded the How Do We Compare To Our Competition white paper 5Visitor browsed company website multiple times in the past 7 days. 5Visitor downloaded the Evaluation Guide. 5Visitor is already a lead in the sales system. 4Visitor clicked on companys Jobs web page. -5
After scoring, then what?• Continual measurement and program adjustments• Engage with prospects to drive increase lead score and turn them into sales-ready leads• Test messaging to different segments to see what they respond to