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

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  • LucidEra Lead Alchemy

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

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