www.fullcircleinsights.com
Session by Elle Woulfe, VP of Marketing at LookBookHQ, during the Circulate 2016 conference (hosted by Full Circle Insights). Learn Elle's 5-part plan that includes:
1) Creating a lead management framework.
2) Re-architecting marketing and sales frameworks.
3) Creating a new messaging framework and designing a new website.
4) Develop the buyer's journey and content pillars.
5) Test and determine the optimal marketing mix.
April 11, 2016 @ the Circulate 2016 conference hosted by Full Circle Insights, a B2B marketing analytics and funnel metrics solution provider.
2. The Trouble with Cooking for Chefs
Hi, I’m Elle!
– Director of Marketing Programs, Eloqua
– Sr. Director of Demand Generation, Lattice Engines
– VP of Marketing, LookBookHQ
– Two-time Full Circle Insights Customer
– Serial #MKTGnerd
5. Major Hurdles…
99% Outbound Sales Process
Messy Infrastructure & Integrations
ZERO Documentation
Limited Skills & Resources
Very High Expectations
6. THE REVENUE ENGINE
What I Want to Build…
Repeatable, unified processes & integrated systems
lead routing
campaign
management
lead scoring
lead nurturing
data
management
reporting &
measurement
9. Questions I Can’t Answer…
• Are any of our marketing investments paying off?
• How long does it take to book a meeting or close a deal?
• Which BDRs are most effective at booking meetings?
• Where do all our disqualified leads and opportunities go?
• How much pipeline do we really have?
MURKY
11. One Audacious Goal
Transform our approach to selling
From primarily
outbound
- BDR-driven
- Cold calling
To at least 50%
“inbound”
- Marketing-driven
- Lead qualification
12. My 5 Part Plan… No Problem!
1. Demand Funnel: Create a lead management framework
2. Technology Optimization: Re-architect marketing & sales infrastructure
3. Messaging: Create a new messaging framework & design a new website
4. Buyer’s Journey: Develop content pillars & fill gaps in the buyer’s journey
5. Fill the Funnel: Test some stuff & determine the ideal marketing mix
FOCUS
15. A Big Leap of Faith
aka - Rip Off the Band-Aid
• Clean slate!
• Informed lead & campaign
management decisions
• Re-built SFDC integration
• Documentation & clarity
• Empowered users
Marketo Migration
16. Original “Process”
The World’s Flattest Funnel
Lead / Cold Call
Opportunity
Accepted/Rejected
Pipeline
Any Demographic/Activity
Basic Demographic Fit
Discovery Meeting Scheduled
Discovery Meeting Successful
Some Next Step Scheduled
17. New Funnel Definitions
Simple, Streamlined, Small Changes
MQL / SGL
SAL
SQL
SQO
Min. Score = 50
Target Account = Active Effort
Lead is Valid / BDR is Working
Discovery Meeting Scheduled
Successful Disco/Next Step/50% Op
18. Process Architecture
Stuff We Needed to Change & Build
MQL / SGL
SAL
SQL
SQO
Lead Scoring
Target Accounts
Sales Campaigns
Lead & Contact Statuses
Recycle / DQ Dispositions
Disco Call Process
First Owner Tracking
Opportunity Stages
Recycle / DQ Dispositions
21. Immediate Insights!
MQL / SGL
SAL
SQL
SQO
MQL Volumes / Sources
Process Efficiency
BDR Effectiveness
Lead Quality & Scoring Calibration
Lead Source Quality
Campaign Influence / Pipeline Value
AE Success Rates
Lead Conversion Velocity
BDR / Target Account Efficiency
22. L2R – Weekly Leadership Meeting
What We
Review:
• Rolling 12-Week
Funnel
• Sales Progress
• Sales Efficiency
• Red Flags
• Quarterly Roll Up
WHO:
CEO, Director of
Sales, Director of
Inside Sales
WHAT:
Weekly process
and metrics
review
WHEN:
Every Monday
morning
HOW:
Marketing and
sales diagnostic
23. Some Cool Stuff We’ve Learned
Inbound vs. Outbound Performance
Conversion:
SQL – SQO
Marketing vs. Sales
Sourced
Velocity:
SQL – SQO
Sales vs. Marketing
Sourced
Conversion:
SQO – Active Pipe
Sales vs. Marketing
Sourced
+15% 1/2 3X
24. V
Validating Our Value Prop
2.4X
More Likely
to be Sales
Ready LookBookHQ Analytics
FMBs:
28. What Did We Learn?
What Does it
Mean?
• FMB thresholds are
too low – not
capturing true
intensity
• FMB criteria must
include some
demographic
component
20%
of all MQLs
exhibited FMB
behavior
57%
of all FMBs
became MQLs
10%
of all FMBs were
Accepted by
Sales
43%
of FMBs Didn’t
Enter the Funnel
30. Lessons Learned / Keys to Success
Include a “voice
of sales” – not all
the voices
Position as a
value add, not a
massive change
Resist the urge to
over complicate
and over
deliberate
Find an executive
sponsor, keep
them engaged,
make it central to
their lives
Give to get… it’s not
all about marketing
but it is about all of
marketing
Don’t be the
bottleneck… part
time efforts get
part time results