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Establishing Your Demand Funnel
 

Establishing Your Demand Funnel

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Traditionally, the mind of the marketer is on demand generation: filling the funnel for the sales force. Today, while that’s still a key first step toward customer acquisition, Marketing’s role ...

Traditionally, the mind of the marketer is on demand generation: filling the funnel for the sales force. Today, while that’s still a key first step toward customer acquisition, Marketing’s role now extends far beyond the top of the funnel: to establishing the “sales and marketing factory.” Discover the most effective way to create your own sales and marketing factory in this fast-paced webinar, hosted by DemandGen CEO Dave Lewis

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  • HR People & Skills: Having a team that has the aptitude and passion to master the systemsDemand Funnel: having a taxonomy, process, and integrated system for managing demandLead Scoring: computing how qualified and interested a lead is to improve sales efficiencyLead Nurturing: systematically communicating with leads to move them through the early stages of the buying cycleSales Alignment: providing the tools and visibility (within the CRM) to help sales be effective at managing and converting leads. Getting qualitative feedback on adoption and utilization of these tools from salesData Management: maintaining a clean, segmented, standardized database of prospects, leads, and customersReporting: establishing key performance indicators and reporting on them effectively

Establishing Your Demand Funnel Establishing Your Demand Funnel Presentation Transcript

  • Establishing Your Demand Funnel: -> Having a Process from Click to Close <- David Lewis Founder & CEO DemandGen International, Inc. www.DemandGen.comCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Webinar Agenda  Aligning sales and marketing into a unified process  Defining your Demand Funnel  Integrating lead scoring and nurturing  Demand Funnel reporting to measure pipeline velocityCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Demand Generation = Marketing + SalesCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • The Power of Factory Thinking Transform from disjointed activities to an integrated marketing and sales process that works as one demand generation factory that is consistently and predictably Manufacturing DemandCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • +25– Fit Criteria 1 Thank You Wait 1 +25– Fit Criteria 2 Week Microsite visit +5 – Watched Demo Wait 1 Week +35 – Free Trial Signup Customer story 90 Capture 4 Nurture Lead Lead 3 Score Lead 2 1 Run Campaigns Marketing CRM Automation 5 One Integrated System 6 Funnel ReportingCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • What is a Demand Funnel? • A systematic framework for aligning and grouping similar prospective customers and marking their progress as they gradually move through their buying process. • It’s both a language and a process model for how leads move from inquiry to customer. • Defining its stages gives you the foundation for segmentation, scoring, routing, nurturing, and reporting and creates that common language between sales and marketing.Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Integrated Sales & Marketing Funnel Key Stages of the B2B Buying Process Interest Learn Evaluate Justify Purchase Sales Sales Marketing Suspect Inquiry Accepted & Qualified Customer Qualified Opportunity Working Marketing Sales captures Marketing Sales accepts facilitates Sales closes campaign scores and and further buying opportunity respondent nurtures qualifies processCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Funnel Taxonomy and Definitions Primary Funnel Stage Sample Definition Owner A respondent to a marketing campaign who does not yet Inquiry Marketing meet minimum qualification/behavior criteria. An inquiry who meets the minimum fit criteria and has Marketing Qualified Lead (MQL) Marketing displayed enough interest to be handed off to sales. A MQL that has been accepted by sales for further Sales Accepted Lead (SAL) Sales qualification to determine pipeline-readiness. A SAL that has progressed to an opportunity and is now Sales Qualified Lead (SQL) Sales committed to pipeline Closed Won Sales An opportunity that concluded as a closed won deal. Model Based on Original SiriusDecisions Demand WaterfallCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Sample Click to Close ProcessCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Q: When leads don’t progress through the buying cycle, what should sales do with them? A: RecycleCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Creating Sales Efficiency LEAD SCORINGCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Why Lead Scoring Sales efficiency: Ranks each lead at the top of the funnel to help sales focus on the highest priority leads.Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • 6 Steps for Lead Scoring Projects 1. Assemble taskforce to discuss characteristics of sales-ready leads 2. Determine the key fit criteria that should be captured prior to sales engagement 3. Establish weighted scores for the criteria and values and for buyer interest levels 4. Review and finalize model with taskforce 5. Implementation and training with Sales 6. Hold regular taskforce meetings to audit results and discuss changesCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Two Dimensional Lead Scoring Qualification Interest Lead Level Level Rating (fit) (buying behavior) C B B ACopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Lead Scoring Qualification Criteria What are the best 2-4 questions you can ask a prospect to determine if they should go “on a date” with sales?Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Case Study: Diabetes Management 1. What Type of Diabetes? 2. Who are 6. # of Injections/Day? you?(Persona ) 3. Which Insurance Provider? 4. Currently 5. Patients Treatment Age? Method?Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Measuring Interest Level  Website Behavior – Number of visits, depth of visit, frequency of visits, areas of interest  Form Activity – Number of forms, high interest forms  Email Responsiveness  Event Participation – Registering for Events – Attending EventsCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Scoring Matrix Marketing Qualified Lead (MQL) Inquiry High C B A Qualification Level Medium D C B Low E D C Low Medium High Interest LevelCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Lead Scoring ViewsCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • The Buying Cycle Conversation LEAD NURTURINGCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • What Is Lead Nurturing? It’s the automated process of engaging in a two-way dialogue with prospects to provide and obtain the information each party needs at key stages of the buying cycle.Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Nurturing through the FunnelCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • What Does Nurturing Through the Funnel Really Mean? • Segmented nurtures based on score and/or status (ie. Inquiry, MQL, Recycle) • Nurture tracks by persona • Delivering the right content at the right time – Have content relevant for each funnel stage • Have a purpose: move leads through the funnelCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Develop Content Assets Content Map: A guide for what content works best & when 1. Industry white paper on trends 2. Solution overview 3. Online product demo 4. Customer testimonials/case studies 5. Pricing & product selectors 6. ROI calculators 7. Deployment and service guidesCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Measuring Pipeline Velocity REPORTINGCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Demand Funnel Benchmarks* Marketing Sales Sales Inquiries Sales Closes Qualified Leads Accepted Leads Qualified Leads Average response (MQLs) (SALs) (SQLs) Opportunity that to a campaign converts to Percent of MQL that gets Lead that closed-won from inquires that accepted by sales progresses to SQL meet minimum opportunity in criteria pipeline 2 to 5% 4% to 8% 45% to 75% 50% to 60% 20% to 30% V1 V1% V2 V2% V3 V3% *Cross-industry averages for b-to-b companies | SiriusDecisions Source: SiriusDecisionsCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Sample Funnel DashboardCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • More Online Resources www.demandgen.com/resources.html • Helpful Online Guides – Secrets of Successful Lead Scoring – Lead Nurturing eBrief • Lead Management Online Videos – www.demandgen.com/demo (3 min video) – http://www.demandgen.com/video-resources.html • Book: Coming Soon – Manufacturing Demand® • Available November 2012 on Amazon, iTunes, etc.Copyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave
  • Questions? David Lewis Founder & CEO 9000 Crow Canyon Road o: 925-678-2501 Suite 180 m. 925-980-6777 Danville, CA 94506 david@DemandGen.com www.DemandGen.com twitter@demandgendaveCopyright © 2012 | DemandGen® International, Inc. David Lewis | Twitter: @demandgendave