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LucidEra Lead Alchemy

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destinationCRM webinar delivered on August 13th 2008. View the recording here: http://www.lucidera.com/landing/lead_alchemy.php

destinationCRM webinar delivered on August 13th 2008. View the recording here: http://www.lucidera.com/landing/lead_alchemy.php

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  • Transcript

    • 1. Lead Alchemy: Turn Marketing Leads into Sales Gold Anneke Seley, Founder and CEO, Phone Works Eric Johnson, VP Worldwide Business Operations, Serena Ken Rudin, Co-Founder, LucidEra
    • 2. Today’s Agenda
      • Introduction
        • Ken Rudin, Founder and VP Market Development LucidEra
      • Lead Qualification Best Practices
        • Anneke Seley, Founder and CEO, Phone Works
      • Case Study: From Theory to Practice at Serena
        • Eric Johnson, VP WW Business Operations, Serena Software
      • The Analytic Elements that Align Sales and Marketing
        • Ken Rudin, Founder and VP Market Development, LucidEra
      Copyright © 2008 LucidEra – All rights reserved
    • 3. Polling Question
      • How would you describe sales and marketing alignment in your company?
        • We’re model citizens. They should write a book about us!
        • It’s been a challenge, but we’re getting therapy.
        • Both sides wonder what the other is doing!
        • We’re about as aligned as McCain and Obama!
      Copyright © 2008 LucidEra – All rights reserved
    • 4. Today’s Agenda
      • Introduction
        • Ken Rudin, Founder and VP Market Development LucidEra
      • Lead Qualification Best Practices
        • Anneke Seley, Founder and CEO, Phone Works
      • Case Study: From Theory to Practice at Serena
        • Eric Johnson, VP WW Business Operations, Serena Software
      • The Analytic Elements that Align Sales and Marketing
        • Ken Rudin, Founder and VP Market Development, LucidEra
      Copyright © 2008 LucidEra – All rights reserved
    • 5. Who is Phone Works?
      • Sales Strategy and Implementation Consulting
      • Focus: Accelerate Sales Results with Decreased Sales Costs and Make Sales Repeatable, Measurable, Scalable
      • Experts in Building or Improving Inside Sales
      • Over 270 clients of all sizes (start-up to large inside operations)
      Copyright © 2008 LucidEra – All rights reserved
    • 6. Case Study: Qualification Process Needed
      • Challenge:
        • $100M+ private company
        • Inquiries going straight to inside sales and field reps
        • Sales was cherry picking leads; too many to handle
        • Marketing spending $$ on programs with unclear ROI
      • Solution:
        • Rerouted all inbound inquiries directly to lead qual team (except for some key named field accounts)
        • Only qualified leads sent to the appropriate sales team
        • Every inquiry tracked and measured to closure
        • Sales only spends time on “qualified” potential leads
        • Marketing receives feedback
      Copyright © 2008 LucidEra – All rights reserved
    • 7. Results: Sales and Marketing Alignment
      • Marketing: Focus and ROI
        • Able to quantify program results, where to re-invest / cut
        • Discovered that most “inquiries” were not true sales leads
        • Discovered mismatch between accounts targeted & “qualified leads”
      • Sales: Increased ASP and Major Productivity Gains
        • Average deal size in the pipeline grew by 29%
        • Sales increased by 19%
      Copyright © 2008 LucidEra – All rights reserved
    • 8. Best Practices Recommendations
      • Share Common Sales & Marketing Goals
      Copyright © 2008 LucidEra – All rights reserved
      • Develop a Measurable, Repeatable, Predictable Sales Process
      • Measure and Track Sales Cycle Conversions
    • 9. Key Performance Indicators and Analysis Copyright © 2008 LucidEra – All rights reserved
      • # of inquiries per rep/day/wk/mo
      • # of emails per rep/day /wk/mo
      • # attempts (call) per rep/day/wk/mo
      • # of connects per rep/day/wk/mo
      • % deals that close from connects
      • Sales cycle length (by team, rep, lead source)
      • Avg deal size
      • Ramp time by rep
      • # of deals/month by rep
      • Revenue by lead source
      • % of leads contacted by SDR
      • % of leads passed to sales contacted
      • % of leads rejected by Sales
      Closed / Analysis
      • Connect rate
        • By lead source
        • By rep
      • % of qualified leads/meetings to connect
      • % of leads/ meetings that move to the next stage in the sales cycle
      • % of demos/ downloads/trials to qualified leads
      • Avg # of attempts to reach contact
      • % that get a proposal who do a demo
      • Lead aging (open lead report) for both Sales Development and Field Sales
      • % opportunities in proposal stage to close
      Activity Conversions Sales Cycle Movement
    • 10. Today’s Agenda
      • Introduction
        • Ken Rudin, Founder and VP Market Development LucidEra
      • Lead Qualification Best Practices
        • Anneke Seley, Founder and CEO, Phone Works
      • Case Study: From Theory to Practice at Serena
        • Eric Johnson, VP WW Business Operations, Serena Software
      • The Analytic Elements that Align Sales and Marketing
        • Ken Rudin, Founder and VP Market Development, LucidEra
      Copyright © 2008 LucidEra – All rights reserved
    • 11. Who is Serena?
      • The leader in helping customers build applications, whether complex or simple
      Copyright © 2008 LucidEra – All rights reserved
        • On premise & on-demand solutions
        • 25+ years experience, 15,000+ customers
        • 96 of Fortune 100 are our customers
      • My Role
        • Sales Operations
        • Sales Readiness
        • Renewals Sales
    • 12. Business Goal, Challenges & Impact
      • Goal:
        • Build volume business through segmented approach w/ strong inside sales focus
      Copyright © 2008 LucidEra – All rights reserved
      • Impact:
        • Poor lead follow-up
        • Low lead conversion
        • Pipeline surprises
        • Increasing putting pressure on system
        • Lead to sale process needed to be revamped
      • Challenges:
        • Lack of good visibility
        • Lead flow dramatically increasing
        • Urgently needed to improve process and visibility in the entire process
        • Constant debate over what is working & what is not!
    • 13. Our Approach
      • Reviewed entire business process
        • From Lead to Sale
        • Modified business process as needed
      • Instrumented business process in salesforce.com and Marketbright
      • Business visibility delivered through Salesforce & LucidEra
      • Education & training of sales reps on process
      • Regular reviews of information via pipeline calls, business reviews
      Copyright © 2008 LucidEra – All rights reserved
    • 14. Best Practice Recommendations Copyright © 2008 LucidEra – All rights reserved
      • Focus first on understanding the business process
      • Then focus on improving the business process
      • Cleanup salesforce.com (or other CRM) screens
        • Don’t over burden reps, keep it simple
        • Consider offering Type vs. Specific Campaign selection
      • Define the key, actionable metrics for your business
        • Leads by Status by Person
          • Large focus on untouched leads & aging
          • Leads & Opportunities by Offer type
        • Conversion rate to Opportunities & Wins by Offer Type by Solution Area
      • Educate and reinforce w/ reps the process
    • 15. Today’s Agenda
      • Introduction
        • Ken Rudin, Founder and VP Market Development LucidEra
      • Lead Qualification Best Practices
        • Anneke Seley, Founder and CEO, Phone Works
      • Case Study: From Theory to Practice at Serena
        • Eric Johnson, VP WW Business Operations, Serena Software
      • The Analytic Elements that Align Sales and Marketing
        • Ken Rudin, Founder and VP Market Development, LucidEra
      Copyright © 2008 LucidEra – All rights reserved
    • 16. Who is LucidEra? Copyright © 2008 LucidEra – All rights reserved Leading the market shift to business analytics as a service LucidEra has taken the complexity out of analytics so that more people and companies can take advantage of analytical insights. - Denis Pombriant, Beagle Research ” “
    • 17. The Analytic Elements
      • Earth: CRM
        • Automate the process
      • Air: Metrics
        • Manage the process
      • Fire: Insight
        • Improve the process
      • Water: Alignment
        • Deliver the results
      Copyright © 2008 LucidEra – All rights reserved
    • 18. This is Your Sales Team with Metrics…
      • According to CSO Insights Research, Sales Managers Exceed Expectations with Metrics:
      Copyright © 2008 LucidEra – All rights reserved Managers Do Not Have Metrics Managers Have Metrics
    • 19. But Do You Have the Right Metrics? Batting Average .406 The Old Way… On-Base % Batting Average + Walks + Sacrifices + Hit By Pitch The New Way…
    • 20. But Do You Have the Right Metrics? .406 The Old Way…
    • 21. Sales 2.0 “Moneyball” Metrics
      • Total Sales
      • Total Pipeline
      • Count of Lead Companies
      • Lead to Oppty Conversion
      • Avg Days from Lead to Oppty
      • Avg Age of Open Oppty’s
      • Avg Days from Lead to Close
      • Avg Oppty Amount
      • Avg # of Oppty’s
      • Lead to Close Conversion
      The New Way… Sales Rep A Sales Rep B Sales Rep C Sales Rep D Sales Rep E Sales Rep F Sales Rep Scorecards
    • 22. Does Marketing Have the Right Metrics?
      • Marketing organizations have always been analytical
      • But are they the metrics that drive sales performance?
        • … and it’s not just # of leads generated
      Copyright © 2008 LucidEra – All rights reserved
    • 23. The Marketing Metrics That Matter
      • Conversion
        • What % of leads are converting into actual opportunities and booked business?
        • Lead generation vs. conversion
      • Aging
        • Are leads getting followed up on?
        • Quantity of activity vs. timing
      • People
        • How are the sales reps doing against the leads?
        • Pipeline size vs. distribution
      Copyright © 2008 LucidEra – All rights reserved
    • 24. The Sales Metrics That Matter
      • Pipeline
        • It’s not just the # of deals, it’s how they’re moving
        • Total value vs. velocity
      • People
        • It’s not just how they’ve done, it’s how they’re going to do
        • Quota vs. scorecard
      • Process
        • It’s not just one home run, it’s predictable hits over time
        • Sales cycle time vs. stage cycle time
      Copyright © 2008 LucidEra – All rights reserved
    • 25. Removing the Barriers to Getting Started
      • The LucidEra Pipeline Healthcheck
        • A 48 hour assessment of the metrics that matter
      Copyright © 2008 LucidEra – All rights reserved
      • How Does it Work?
        • We take snapshots of opportunities in Salesforce
        • We highlight potential areas of opportunity or concern based on our best-practice analytics
        • We review our findings with you and help you get started
    • 26. Discussion
      • Anneke Seley
        • Founder and CEO
      • Eric Johnson
        • VP Worldwide Business Operations
      • Ken Rudin
        • Founder, VP of Market Development
      Copyright © 2008 LucidEra – All rights reserved www.lucidera.com