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ROI Analysis of Leads - LeadsCon 2013
 

ROI Analysis of Leads - LeadsCon 2013

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Dave Elkington's presentation from LeadsCon in 2013. ...

Dave Elkington's presentation from LeadsCon in 2013.

Try InsideSales.com free for 10 days: PowerDialer™ — #1 Power Dialer Software for B2B Sales - http://www.insidesales.com/outbound_power_dialer.php

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  • 6 elements of PowerDialer Screen (EVERY FEATURE LINKED TO BENEFIT – TELL WHY IT IS COOL)- Tic sheet – lets reps see their activities and metrics for the day, actually driving performance and competition- CRM Object : you can call on leads, accounts, opportunities, and cases – events and tasks. Not just lead gen team but sales and support and admins. Productivity - For any job function- Record statistics - see exactly what has happened while on the phone – real time visibility – save time in research - one place to see what is going on. Only company with phone stats in the Saleforce reporting - Call controls – buttons – go for sizzle, record, hold, voice message, - benefit, this is the power tools of the system, incredibly convenient and powerful- Action list – send an email, set callbacks, schedule and manager calendar – streamline more actions and productivity tools with a single point for your workspace. Local Presence- Call result – where you record the result of the call. We separate out the linear process from the transactional process. If you have managed the lead process you have seen the train wreck of mixing the call result and your lead status. You can track every call result, (Busy, Connects, No Answers, etc.) and let you manage the progression in the sales process in your lead status. Example? Benefit is we store these natively in Salesforce! You won’t see that on any other platform.Recent calls – Let’s you quickly go back to recent activity. A key feature our enterprise customers requested. Don’t waste time searching to go back.
  • Expected probability of closing a lead from that source times the revenue that would have been earned if the lead closed based on industry averages.

ROI Analysis of Leads - LeadsCon 2013 ROI Analysis of Leads - LeadsCon 2013 Presentation Transcript

  • ROI Analysis of Leads
  • InsideSales.com Background Founders Founded: 2002 Patents: 4 Pending: 6 Location: Provo, UT Annual Growth: 110%+ Venture Investors: Dave Elkington Ken Krogue – US Ventures CEO President – Hummer Winblad – Josh James© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Marquee Clients© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • PowerSuiteTM PowerDialer™ PowerCall™ PowerText™ PowerSocial™ PowerStandings™ InsideSales.com Inside Sales Automation & Neuralitics™ Predictive Analytics Platform© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Recent Research 2013 Distance 2013 LeadsCon Education ResponseAudit ResponseAudit 2013 Top Sales 2013 Market Size Challenges Survey Survey 2012 Dreamforce 2013 Lead Gen ResponseAudit Methodologies© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Inside Sales Effectiveness • What lead and company factors lead to success in an Inside Sales organization? • Background – 6.0 Million Calls – 1.8 Million Lead Records – 4,500 Lead Sources – 4,000 Sales Reps – 106 Domestic Companies – 5 Major Industries – 1 Year of Data (6 Month Aging Time)© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Conversion Rates New . 100.0% Attempting Contact 46.9%Contacted / Appt Set 24.9% Qualified 15.9% Closed 3.9%© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Conversion Rates by Source Tradeshow Referrals Search / Web New . 100.0% 100.0% 100.0% Attempting Contact 38.4% 50.3% 51.5% Contacted / Appt Set 10.8% 40.7% 23.1% Qualified 3.3% 38.1% 18.7% Closed 0.6% 7.3% 1.8% Lists Vendor Inbound Leads New . 100.0% 100.0% 100.0% Attempting Contact 76.4% 40.6% 22.7% Contacted / Appt Set 10.2% 34.0% 21.9% Qualified 2.3% 16.8% 16.1% Closed 0.2% 0.4% 0.5%© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Close Rate by Source 8% 7.31% 7% 6% 5% 4% 3% 2% 1.77% 1% 0.53% 0.44% 0.17% 0% List Vendor Search/Web ACD / Inbound Referral© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Lead Source: Implied Lead Value$1,600 $1,477$1,400$1,200$1,000 $800 $600 $476 $400 $200 $122 $46 $77 $0 List Vendor Search/Web ACD / Inbound Referral© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Avg Lead Cost: Industry $80 $70 Avg. Cost Aged Lead Avg. Cost Shared Lead $60 Avg. Cost Unique Lead Avg. Cost Live Transfer Lead $50 $40 $30 $20 $10 $- Bus. Services Finance Software Healthcare Insurance Legal B2B B2C© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Avg Close Rates: Industry35% Close Rate Aged Lead30% Close Rate Shared Lead25% Close Rate Unique Lead Close Rate Live Transfers Lead20%15%10% 5% 0% Bus. Services Finance Software Healthcare Insurance Legal© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Avg Lead Cost: Business Type $45 Avg. Cost Aged Lead $40 Avg. Cost Shared Lead $35 Avg. Cost Unique Lead Avg. Cost Live Transfer Lead $30 $25 $20 $15 $10 $5 $0 B2B B2C© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Avg Close Rates: Business Type25% Close Rate Aged Lead Close Rate Shared Lead20% Close Rate Unique Lead Close Rate Live Transfers Lead15%10% 5% 0% B2B B2C© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Avg Deal Size B2B B2C$100,000 $10,000 $90,000 $9,000 $80,000 $8,000 $70,000 $7,000 $60,000 $6,000 $50,000 $5,000 $40,000 $4,000 $30,000 $3,000 $20,000 $2,000 $10,000 $1,000 $- $-© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Avg Lifetime Value B2B B2C$300,000 $25,000$250,000 $20,000$200,000 $15,000$150,000 $10,000$100,000 $5,000 $50,000 $- $-© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Persistency 6 5 5.36 Number of Dials 4 3 2.74 2 1 0 Not Closed Closed Closed leads are dialed 95% more than leads that don’t close© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Close Rates by Dial B2B B2C 1.20% 1.00% 0.80% Close Rate 0.60% 0.40% 0.20% 0.00% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Dials© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved Close Rate by Dials
  • Close Rate Increase Per Dial B2B B2C 45%Increase in Close Rate from Previous Dial 40% 35% 30% 25% 20% 15% 10% 5% 0% 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Dial Number© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved Increase Close Rate Per Dial
  • Additional Revenue Per Dial B2B B2C $35,000 $350 Additioanal Revenue for B2B Additional Revenue for B2C $30,000 $300 $25,000 $250 $20,000 $200 $15,000 $150 $10,000 $100 $5,000 $50 $0 $0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Dial Number© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved Additional Revenue Per Dial
  • Close Rates by Dial Business Services Finance 0.60% 0.40% 0.40% 0.30% 0.20% 0.20% 0.10% 0.00% 0.00% 1 3 5 7 9 11 13 15 17 19 21 1 3 5 7 9 11 13 15 17 19 21 Healthcare Telecommunications 1.50% 2.00% 1.50% 1.00% 1.00% 0.50% 0.50% 0.00% 0.00% 1 3 5 7 9 11 13 15 17 19 21 1 3 5 7 9 11 13 15 17 19 21© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved Close Rates by Dial per Industry
  • Additional Revenue per Dial Business Services Healthcare $20,000 $100 $10,000 $50 $0 $0 1 3 5 7 9 11 13 15 17 1 3 5 7 9 11 13 15 17 Finance Telecommunications $1,000 $6,000 $4,000 $500 $2,000 $0 $0 1 3 5 7 9 11 13 15 17 1 3 5 7 9 11 13 15 17© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved Additional Revenue per Dial
  • Close Rate by Email B2B B2C 1.8% 1.6% Cumulative Close Rate 1.4% 1.2% 1.0% 0.8% 0.6% 0.4% 0.2% 0.0% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Number of Emails© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved Close Rate by Email
  • Close Rate Increase for Each Email B2B B2C 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Close Rates for Each Email Healthcare Business Services 3.00% 1.50% 2.00% 1.00% 1.00% 0.50% 0.00% 0.00% 1 3 5 7 9 11 13 15 17 19 21 1 3 5 7 9 11 13 15 17 19 21 Finance Telecommunications 2.00% 1.00% 1.50% 1.00% 0.50% 0.50% 0.00% 0.00% 1 3 5 7 9 11 13 15 17 19 21 1 3 5 7 9 11 13 15 17 19 21© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Additional Revenue for Each Email Business Services Healthcare $20,000 $600 $15,000 $400 $10,000 $200 $5,000 $0 $0 1 3 5 7 9 11 13 15 17 1 3 5 7 9 11 13 15 17 Finance Telecommunications $1,500 $6,000 $1,000 $4,000 $500 $2,000 $0 $0 1 3 5 7 9 11 13 15 17 1 3 5 7 9 11 13 15 17© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Close Ratios by Number of VMs Before First Contact After First Contact 2.0% 1.5% 1.0% 0.5% 0.0% 0 1 2 3 4 5 More than 5 Number of VoicemailsCopyright © InsideSales.com Inc. All Rights Reserved
  • LocalPresence B2B B2C 15% 31% Quantity of Leads 69% 85% Normal Caller ID Local Caller ID 35% Quantity of 47% Closes 53% 65%© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • LocalPresence: Close Rate Increase Normal Caller ID Local Caller ID 5.00% 550% 320% 4.50% Increase Increase 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% B2B B2C© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • LocalPresence: Additional Value $2,000 $1,788 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $67 $- B2B B2C© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • In State vs Out of State Out of State In State 2.50% 85% Increase 2.00% 39% Increase 1.50% 1.00% 600% Increase 0.50% 0.00% B2B B2C Average© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Additional Value of In State Leads 300 255 250 225 200 150 100 50 8 - B2B B2C Average© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Closes by Time of Day 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 7 AM 8 AM 9 AM 10 AM 11 AM 12 PM 1 PM 2 PM 3 PM 4 PM 5 PM 6 PM Time of Day First Contacted© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Closes by Day of Week 2.0% 1.5% 1.0% 0.5% 0.0% Sunday Monday Tuesday Wednesday Thursday Friday Saturday Day First Contacted© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Closes by Day of Month 3% 2% 2% 1% 1% 0% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Day of Month First Contacted© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Close Rate by Days to Contact B2B B2C 3.00% 2.50% 2.00% Close Rate 1.50% 1.00% 0.50% 0.00% 1 2 3 4 5 6 7 Days to Contact© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Revenue by Days to Contact B2B B2C $450 $400 $350 $300 $250 $200 $150 $100 $50 $- 1 2 3 4 5 6 Days to Contact© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • ResponseAuditTM Avg % Responded Response Avg by Phone or Time by Response Companies Email Phone Attempts Dreamforce 2009 2,875 39.9% 41:07 1.07 Avg Cloudforce 2010 472 30.7% 40:28 49:49 1.32 LeadsCon East 2010 57 35.1% 56:05 2.00 Dreamforce 2011 3,051 51.4% 57:28 1.20 AA-ISP 2011 159 54.7% 40:24 2.60 AA-ISP 2012 696 64.2% 39:20 2.05 Dreamforce 2012 2,148 55.0% 38:30 1.57 Distance Education 69 73.0% 24:18 3.48 LeadsCon 2013 311 49.8% 17:17 1.63© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved 2007-2012 ResponseAudit Research Studies – InsideSales.com
  • ResponseAuditTM Avg % Responded Response Avg by Phone or Time by Response Companies Email Phone Attempts Dreamforce 2009 2,875 39.9% 41:07 1.07 Avg Cloudforce 2010 472 30.7% 49:49 1.88 1.32 LeadsCon East 2010 57 35.1% 56:05 2.00 Dreamforce 2011 3,051 51.4% 57:28 1.20 AA-ISP 2011 159 54.7% 40:24 2.60 AA-ISP 2012 696 64.2% 39:20 2.05 Dreamforce 2012 2,148 55.0% 38:30 1.57 Distance Education 69 73.0% 24:18 3.48 LeadsCon 2013 311 49.8% 17:17 1.63© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved 2007-2012 ResponseAudit Research Studies – InsideSales.com
  • Total Dials Per LeadsCon Attendee 250 200 Number of Companies Overall average of 0.96 dials per company 150 100 50 0 0 1 2 3 4 5 6 7 8 9 10 More than Number of Dials 10© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved
  • Contact Method by Attempt Number Emails Call Voicemail 120 Number of Responses 100 80 60 40 20 0 1 2 3 4 5 6 7 8 9 10 More than Attempt Number 10Copyright © InsideSales.com Inc. All Rights Reserved
  • Total Phone & Email Attempts 1.6 LeadsCon attendee average 3.4 Deals that don’t close 10.8 Deals that close 180 160 Number of Companies 140 120 100 80 60 40 20 0 0 2 4 6 8 10 12 14 More than 15 Number of AttemptsCopyright © InsideSales.com Inc. All Rights Reserved
  • First Call in Under 5 MinutesCopyright © InsideSales.com Inc. All Rights Reserved Top Performers
  • Company Rankings Rank Company Rank Company Rank Company Rank Company 1 Ingram Medical 41 Cake Marketing 81 TTC Marketing Solutions 121 RevenueAds 2 InsideSales.com 42 Little Brook Media 82 Connect Your Home 122 LeadSpend Inc 3 Vivint 43 Precise Leads Inc 83 University Bound Inc 123 Millennial Media 4 Endurance warranty 44 Leads360 Inc 84 Sumner insurance 124 Triggit Media 5 Quicken Loans 45 SoftVu LLC 85 Mortech 125 Expertsender 6 The Federal Savings Bank 46 Innovate Media 86 Inmobi 126 BuyerZone 7 ActiveProspect 47 Gragg Advertising 87 Website Magazine 127 React2Media 8 Brandman University 48 Geary LSF 88 Permission Data 128 Intermedia Advertising 9 KB Synergy 49 SBBCollege 89 retargeter 129 Linton Investments 10 Jones International University 50 RTK Media Inc 90 Impact Radius 130 Tipalti 11 SelectQuote 51 Growth Works Ventures 91 Insurance Quote Exchange LP 131 Pinnacle Mortgage Group 12 CorvisaCloud 52 SmartLead by AdTrack 91 Saveology.com 132 Twilio Inc 13 MDT Direct 53 Assurance Direct Marketing 93 Free Pool Quotes 133 LeadId 14 Shore Mortgage 54 List Giant 93 NextWaveMarketingStrategies 134 Prizm Media 15 Speed to Contact 55 ALLPRO Direct Marketing 95 Zillow.com 135 Market Approach Consulting 16 Total Attorneys 56 Rising Results Inc 96 Telic 136 Velma 17 boberdoo.com 57 SeniorLiving.net 97 The Lead Company 137 Inside Response 18 SendGrid 58 Adrea Rubin Marketing Inc 98 NewRetirement LLC 138 Barrington Media Group 19 Safeco 59 LinkTrust 99 Personal Capital 139 Deutsche Bank 20 Bills.com 60 WebMetro 100 Insurance Express.Com 140 optifinow 21 LeadQual 61 Waterstone Capital Advisors 101 SnagAJob 141 Wisemuv 22 Penn Foster 62 Republic Exchange 102 IntegriShield 142 GlobalWide Media 23 The Princeton Review 63 Ring Revenue Inc 103 Envisage International Corp 143 Business.com 24 NoCostRefi.com 64 Bankrate Inc 104 PlattForm 144 Koeppel Direct 25 UnsubCentral 65 DMi Partners 105 the internet law group 145 Blue Phoenix Media 26 Accurate Append 66 Best Rate Referrals 106 Response Mine Interactive 146 ListMarketer 27 The DelFin Project 67 Brafton 107 Q Interactive 147 Submit Express 28 Efinancial 68 Legal Brand Marketing 107 Round Sky Inc 148 Ampush Media 29 eGenerationMarketing 69 Brighton College 109 Digital Bulldogs 149 eGentic 30 TeleSign Corp 70 Prospect Mortgage 110 Silver Living 150 OpenJar Concepts 31 Loan One 71 BackToLearn.com 111 ScreenPerks, Inc. 151 LifeScript 32 Devry University 72 Neustar Information Services 112 Smart Rhino Labs 152 Supreme Lending 33 Payvia 73 Moss Affiliate Marketing 113 InsideUp Inc 153 Call Pixels 34 Log My Calls 73 Insurance321 114 Alliance Direct Media 154 Media Spade 35 Northcentral University 73 Vantage Media 115 Adchemy Inc 155 InsideVault 36 RMC Vanguard 76 Manage.com 116 Domain Sherpa 37 Three Deep Marketing 76 Mediaspike Inc 117 the Underground Elephant 38 IMG 76 netSpend.com 118 Partnerpedia 39 TriOS College 79 ABC Leads 119 Optimizely 40 Platt College 79 QuoteLab 120 Viral NinjasCopyright © InsideSales.com Inc. All Rights Reserved
  • Take Aways • 10 things you should learn from this© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved Summary
  • DAVE ELKINGTON delkington@insidesales.com Twitter: @DaveElkington LinkedIn: http://www.linkedin.com/in/davidelkington Dave Elkington Try PowerDialerTM Free for 2 Weeks CEO & Co-Founder With 1000 Dialer Minutes InsideSales.com http://www.InsideSales.com/leadscon2013© InsideSales.com Inc. Copyright © InsideSales.com Inc. All Rights Reserved