Effective Lead Generation through Lead Lifecycle Management

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Through this video you will how to plug leaks and build a stronger pipeline.

Effective Lead Generation through Lead Lifecycle Management

  1. 1. 0 eDynamic, Friday, May 9, 2014 0 EffectiveLeadGeneration throughLeadLifecycle Management Howtoplugtheleaksand buildastrongerpipeline
  2. 2. 1 eDynamic, Friday, May 9, 2014 Agenda • Understandingleadmanagement • Creatingasuccessfulleadmanagement strategy • Q&A
  3. 3. 2 eDynamic, Friday, May 9, 2014 Is your sales process a leaking faucet?
  4. 4. 33
  5. 5. 4 eDynamic, Friday, May 9, 2014 You’re not alone “Only 11% of sales leads are ever pursued by sales people and over 80% of sales leads generated are never closed.” – Oracle | Eloqua
  6. 6. 5 eDynamic, Friday, May 9, 2014 You’renotalone… “Over 80% of B2B organizations struggle with a lack of synergy between the sales and marketing functions. This misalignment leads to lost revenue opportunities and leaks in the pipeline.” – Aberdeen Group
  7. 7. 6 eDynamic, Friday, May 9, 2014 You’renotalone… “16% of the total leads that are deemed ‘sales-ready opportunities’ actually close. The difference between a successful company and a mediocre company lies in how the remaining 84% of already qualified opportunities are handled.” – Aberdeen Group
  8. 8. 7 eDynamic, Friday, May 9, 2014 Thingsarechanging… “By2020customerswillmanage85%of theirrelationshipswithouttalkingtoa human.” -GartnerResearch
  9. 9. 8 eDynamic, Friday, May 9, 2014 TheConnectedCustomer
  10. 10. 9 eDynamic, Friday, May 9, 2014 Buyers: • Areincontroloftheirownbuyingprocess • Haveaccesstoalltheinformationthey requiretomakeabuyingdecision
  11. 11. 1010 Tobuild a stronger pipeline youmust engage customersat allstagesof theirbuying process Source: Forrester
  12. 12. 1111 LEADMANAGEMENTisnecessaryintoday’senvironment
  13. 13. 12 eDynamic, Friday, May 9, 2014 TheCommonGapinleadmanagement Forrester Research
  14. 14. 13 eDynamic, Friday, May 9, 2014 Marketersmust: • Understandthebuyer’sdigitalbody languagetodeterminetheirinterestlevel • Leverageandoptimizetechnologyto delivertherightmessagetotheright personattherighttime • Scoreleadstodeterminewhoisreadyfor sales,andnurturethosewhoarenot
  15. 15. 14 eDynamic, Friday, May 9, 2014 Lead Management vs Lead generation What’s the difference?
  16. 16. 15 eDynamic, Friday, May 9, 2014 20000 400 100 50 17 LookingattheNumbers LeadManagementbythenumbers:WithoutPre-qualification Sales Stage Volumes Required Conversion Rate Prospects Qualified Leads Sales Accepted Leads Sales Opps Closed Won 2% 25% 50% 35% $1.7 Million in revenue Assumption: $100K Value of Closed Business
  17. 17. 16 eDynamic, Friday, May 9, 2014 20000 1000 250 125 44 LookingattheNumbers LeadManagementbythenumbers:Focusonpre-qualifyingatthetop Sales Stage Volumes Required Conversion Rate Prospects Qualified Leads Sales Accepted Leads Sales Opps Closed Won 5% 25% 50% 35% $4 Million in revenue Assumption: $100K Value of Closed Business
  18. 18. 17 eDynamic, Friday, May 9, 2014 20000 1000 650 325 114 LookingattheNumbers LeadManagementbythenumbers:CommondefinitionsofQualification CriteriabetweenMarketingandSales Sales Stage Volumes Required Conversion Rate Prospects Qualified Leads Sales Accepted Leads Sales Opps Closed Won 5% 65% 50% 35% $11 Million in revenue Assumption: $100K Value of Closed Business
  19. 19. 18 eDynamic, Friday, May 9, 2014 18 6 Steps to Creating a Successful Lead Management Strategy 1 2 3 4 5 6
  20. 20. 19 eDynamic, Friday, May 9, 2014 Sharedgoals Commonleaddefinition Leadqualificationandhand-off Programvisibility Commonrevenue-focusedmetrics STEP1.AlignMarketingActivitieswithSalesResults 1 2 3 4 5 6 Align Marketing with sales
  21. 21. 20 eDynamic, Friday, May 9, 2014 Whilesalesand marketingpeoplehave differentwaysofgoing abouttheirbusiness functionstheyneed eachothertobe successful.  RobHarnett,SalesPerformanceBlog STEP1.Commongoals,commonstrategy 1 2 3 4 5 6 Align Marketing with sales
  22. 22. 21 eDynamic, Friday, May 9, 2014 STEP1.Leadqualificationandhand-off 1 2 3 4 5 6 Align Marketing with sales
  23. 23. 22 eDynamic, Friday, May 9, 2014 STEP1.Leaddefinition 1 2 3 4 5 6 Align Marketing with sales
  24. 24. 23 eDynamic, Friday, May 9, 2014 Revenue Netnewdeals Profit Customerexpansion MarketShare Margin MarketingEffectivenessandEfficiency Leadssourcedorinfluencedbymarketing MQLsandSALs Opportunities STEP1.Commonmetrics 1 2 3 4 5 6 Align Marketing with sales
  25. 25. 24 eDynamic, Friday, May 9, 2014 1. Registrations,Conversionsor Inquiries 2. LeadQualitybyLeadScore 3. Spend(CostperConversion,Costper QualifiedLead) 4. Engagement  CTRs  Attention(Timeonsite,Interactwith Content)  PRandSocialComments,Tweets,Likes, Shares 5. Etc. SecondaryMarketingProgramMetrics
  26. 26. 25 eDynamic, Friday, May 9, 2014 1. Awareness and Interest 2. Educate 3. Evaluate 4. Justify 5. Purchase 6. Advocacy and Repurchase STEP2.Understandyourcustomer’sbuyingcycle 1 2 3 4 5 6 Understand your customer’s buying cycle
  27. 27. 26 eDynamic, Friday, May 9, 2014 STEP2.UnderstandtheBuyingProcess Byidentifyingwhoourcustomersareandhowtheybuywillhelp ussegmentandmapoutthewayweengagewiththem $$Prospect Qualified Lead Sales Accepted Lead (SAL) Suspect Sales Qualified Opportunity (SQO) Evaluate PurchaseLearn JustifyInterest Customer’s Buying Process Sales & Marketing Process Marketing validates quality of interest Marketing nurtures to sales ready Sales validates and accepts ownership Sales validates BANT criteria Sales closes revenue opportunity COLD WARM HOT
  28. 28. 27 eDynamic, Friday, May 9, 2014 1. ALeadForward,Revenuebackanalysis willnotonlyprovideinsightsintoalead managementprocessbutwillalsotellyou whoyouridealcustomeris 2. Criteria:  TechnicalBuyer,EconomicBuyer,UserBuyer,Coach  JobRole/Function  Industry  Motivations  PainPoints STEP2.Understandyourcustomer’sbuyingcycle 1 2 3 4 5 6 Understand your customer’s buying cycle
  29. 29. 28 eDynamic, Friday, May 9, 2014 STEP2.Howaretheybuying? 1 2 3 4 5 6 Understand your customer’s buying cycle
  30. 30. 29 eDynamic, Friday, May 9, 2014 STEP2.Whatchannelsaretheyusing? 1 2 3 4 5 6 Understand your customer’s buying cycle Weneedtoengagepeoplewheretheyspend theirtime—wheretheygettheirinformation.
  31. 31. 30 eDynamic, Friday, May 9, 2014 STEP2.CreateSegments–byprofile,bychannel 1 2 3 4 5 6 Understand your customer’s buying cycle Identifysegmentationparameters thatmodelyourcustomersandhowtheybuy.
  32. 32. 31 eDynamic, Friday, May 9, 2014 Step2.Understandactions,painpoints,motivations Evaluate PurchaseLearn JustifyInterest Active Search Begins Solutions Identified Solutions Evaluated Against Needs Validate Decision Made Actions Web Search Review or get admin to look at product on website and collateral. Ask Personal/SocialNetwork. Compare against current Card Peer/Association endorsements Procurement Process Questions WIFM? Do I really need this card? Does it fit my business needs? Which of my suppliers are acceptingthe card? Can this replace my current Business or Consumer Card? What is the cost (fees)? How much can I spend? Who else like me is using this product? What type of rewards is he/she collecting? How long before I can utlizie the product? TCO? ROI? Motivations Rewards, Service, Perks, Cachet, Fees Amex Perks – Rewards, Business Savings, Travel Insurance,Security, Service (Added Value) Relevance of Perks, Rewards etc… Confirmation of Perks e.g.. Rewards - taxes andfees covered Risk-free Trial PainPoints No Time Budget vs. Spend Expense Tracking and Management Cash Flow Barriers Merchant Acceptance Tied to an existing card Migrating from Existing card Merchant Acceptance Migrating from Existing card, LinkingBank accounts T&Cs Personal Liability Credit History Supplier Coverage Is it worth switching? Approval Process
  33. 33. 32 eDynamic, Friday, May 9, 2014 STEP2.AlignContenttothebuyingcycle Attract Qualify Nurture Understand your customer’s buying cycle 1 2 3 4 5 6
  34. 34. 33 eDynamic, Friday, May 9, 2014 Manual, 36% Automated Sequence, 64% STEP3.Automatetheprocess 1 2 3 4 5 6 Automate the process Campaignsinfluencingrevenue Oracle Eloqua Benchmark Study
  35. 35. 34 eDynamic, Friday, May 9, 2014 STEP3.Buildamodel Automate the process 1 2 3 4 5 6
  36. 36. 35 eDynamic, Friday, May 9, 2014 STEP3.Createadataprofile Automate the process 1 2 3 4 5 6 Prospect/CustomerProfile  ContactInformation  CompanyInformation  IdealCustomerattributes–revenuesize,industry Prospect/CustomerEngagement  WebsiteVisits  EmailOpens,Clicks,Forwards  BlogComments  Socialactivity LeadTypeCategorization  Source/Channel/Industry/JobRole
  37. 37. 36 eDynamic, Friday, May 9, 2014 STEP3.Buildamodel Automate the process 1 2 3 4 5 6
  38. 38. 37 eDynamic, Friday, May 9, 2014 STEP3.Createanautomatedprocess Automate the process 1 2 3 4 5 6
  39. 39. 38 eDynamic, Friday, May 9, 2014 STEP4.ScoringandRouting 1 2 3 4 5 6 Scoring and routing Workwithsalestodeterminethe“buying zone” Low levelof engagement (Low level of how much the lead wants to talk to us) High levelof engagement (High level of differentiation driving purchase intent) High levelof Profile Match (High level of how much we want to talk to the lead) The Buying Zone The only leads we should be feeding to the sales field Low levelof Profile Match (Low level of how much we want to talk to lead)
  40. 40. 39 eDynamic, Friday, May 9, 2014 STEP4.ScoringandRouting 1 2 3 4 5 6 Scoring and routing TheScoringProcess Explicit and Implicit Scores Calculated Score RESET Rating Assigned Feed into Scoring Send to CRM Lead Qualification Lead Nurturing
  41. 41. 40 eDynamic, Friday, May 9, 2014 1. Buildtrustandastrongrelationshipwith yourprospect  LeadNurturingprovidestheopportunitytoestablisharelationship thatcanleadtoengagementandconversions  Educateyourleads–Whoareyou? Whatdoesyourorganization do? Howdoesthisbenefitme?  Establishcredibilityasexperts  Berelevanttotheissuesofyourdifferentsegments  Differentiateyourselvesasanorganizationtheywantto communicatewith,buyfrom,donateto…  Betop-of-mind STEP5.Nurtureleadsthroughoutthebuyingcycle 1 2 3 4 5 6 Nurture leads
  42. 42. 41 eDynamic, Friday, May 9, 2014 STEP5.Nurtureleadsthroughoutthebuyingcycle Evaluate PurchaseLearn JustifyInterest (1) New Welcome Program • 1st touch – Welcome • 2nd touch – tell us about your preferences • 3rd touch – relevant case study and let us know if we can help you. (3) Referral Auto-responders Objection Campaigns Three-touch drip email campaigns by topic: • Don’t get it • Costs too much • Happy with point tools (2) Customer Follow-Up •1st touch – Can I answer any questions for you? From rep. Buyer’s Kit • Dynamic hypersite by role and by product interest • ROI Determination • Case Studies • Evaluation Tools Competitive Loss Reengagement • After 6 months of close • Benchmark study • Relevant case studies Inactive Reengagement • Last Qtr. timeframe • Budget Planning Message Evaluator Education Campaign SEM Content Syndication Inside Sales Prospecting 1 2 3 4 5 6 Nurture leads
  43. 43. 42 eDynamic, Friday, May 9, 2014 1. Buildingrelationshipswithtopormiddleof thebuyingcycleleads 2. Movingtopofthefunnelleadstomiddleof thebuyingcycle 3. Re-engagingunqualifiedbottom ofthebuyingcycleleads STEP5.Nurtureleadsthroughoutthebuyingcycle 1 2 3 4 5 6 Nurture leads
  44. 44. 43 eDynamic, Friday, May 9, 2014 Providesaleswithinsightintoengagedlead activity 1. Movingtopofthefunnelleadstomiddleof thebuyingcycle 2. Re-engagingunqualifiedbottom ofthebuyingcycleleads STEP6.EmpowerSales 1 2 3 4 5 6 Empower sales
  45. 45. 44 eDynamic, Friday, May 9, 2014 Providesaleswithinsightintoengagedlead activity STEP6.EmpowerSales 1 2 3 4 5 6 Empower sales
  46. 46. 45 eDynamic, Friday, May 9, 2014 1. Createshort-termandlong-termprograms andcollateralforusebysalesviatheir CRM  Eg.PersonalizedFollow-ups  Eg.Programsfor“Stuck”opportunities  Eg.LostOpportunities STEP6.EmpowerSales 1 2 3 4 5 6 Empower sales
  47. 47. 46 eDynamic, Friday, May 9, 2014 Connectwithus 1-877-339-6264 www.edynamic.net contact@edynamic.net twitter.com/edynamic youtube.com/1999dynamic facebook.com/edynamic.net

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