The marketing function in any organization is responsible for generating leads and sending them to sales.
Every organization has a set of rules (formal or informal) to identify which leads should be pursued and which should be ignored.
There are a number of leads sources and for all but one, the organization is in control of the quality and form of the data – trade shows and events.
All your competitors at the show have the same leads so time is critical.
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Marketing Department Leads Process Rules
SocialMedia Advertising Qualification Generation Sales Internet Nurturing Programs Telemarketing Events 4/4/2010 3 TPC Inc.
Events – Trade Shows
Data Collection – lead retrieval centric
Simple, portable, small and works
Less control over data and changes show to show
Good data and common across shows
Expensive, complex and takes space
Hybrid - enhance the scanner data to rival PC-based
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BANT plus Qualification Questions Budget - Budget Process? Authority – Role in Decision? Need – Is need identified? Size - Size of opportunity? Timeframe – Timeframe to Purchase? Action – Follow-up Required? Status - Current or past customer? Decision Maker Influencer Data Gatherer Salesrep call Immediate Salesrep call 30 days Send literature 4/4/2010 5 TPC Inc. Answers
Lead System Custom QualifiersBANT plus Qualifiers Programmed into Scanner Budget Approved Budget in Process Budget not Approved Decision Maker Influencer Data Gatherer Problem Identified Solution Identified Large Opportunity Medium Opportunity Small Opportunity Immediate 90 days 6 months 12 months plus Salesrep call Immediate Salesrep call 30 days Send literature Current or Past Customer Not a customer 4/4/2010 6 TPC Inc.
Internet Example – Bant + Interaction Tracking 4/4/2010 TPC Inc. 7 “BANT criteria (budget, authority, timing, and need) have limited usefulness since buyers’ answers to those questions are notoriously inaccurate, and as we all know, people’s actions speak louder than their words. This means you should also track a lead’s behaviors so you can you measure their interest and engagement in your solution. “ ReachForce & Marketo - 101 B2B Marketing and Sales Tips from The B2B Lead
Lead Scoring and Rating Rules ∑ (Question weighting) x (Answer Value) A lead ≥ Total A B Lead ≥ Total B C Lead < Total B Question / Answer Combo IF / AND /OR logic Filtering leads by a single variable is easy but rating leads based on many criteria is complex! 4/4/2010 TPC Inc. 8
Every Show can be Different 4/4/2010 TPC Inc. 9 Rules Bant + Other Social Media Advertising Qualification Generation Sales Internet Nurturing Programs Telemarketing Events Trade show leads qualification and data formats vary by show and are not defined by the organization. This results in delays and added costs to integrate with the leads system. Use of Custom Qualifiers can mitigate the problems and increase ROI of the leads.
Events Require a Front End Filter 4/4/2010 TPC Inc. 10 Rules Bant + Other Social Media Advertising Qualification Generation Sales Internet Nurturing Programs Telemarketing Events RapidResponse™ Processing Sales Ready Leads Because Trade Shows are Different
Convert data formats
Map custom qualifiers to Q&A
Score leads – Rating Rules
Sales Ready (A)
Needs marketing nurturing (B)
Requires no further effort (C)
Send attendee action emails
URLs to landing pages
Booth data confirmation
Customized landing pages
Schedule sales follow-up
Distribute leads to appropriate department
Sales follow-up to A leads (sales ready)
Marketing nurturing programs for B leads
Entry into leads management process
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Benefits of RapidResponse Converts data formats and makes use of custom qualifiers to score leads and then categorizes them using rating rules Targets your efforts to the "sales ready" leads Allows your sales people to spend 70% less on follow-up to improve: close rates, effectiveness and ROI Points you to the "hot" prospects before your competitors can get there Sends attendee “rating-based” action emails with URLs to:
Marketing landing pages
Booth data confirmation surveys
Frees valuable resources to perform less manual tasks 4/4/2010 TPC Inc. 12