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Sales for Startups (using the Lean Automated Marketing Process)
 

Sales for Startups (using the Lean Automated Marketing Process)

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Sales for Startups: sales are the lifeblood of any company but especially important for Start ups - you need revenue to keep the company going and also to attract investment. ...

Sales for Startups: sales are the lifeblood of any company but especially important for Start ups - you need revenue to keep the company going and also to attract investment.





This slide deck explains some of the key concepts of Sales and suggests some key processes to put in place.



Whilst aimed at Startups it will be relevant to most SMEs with a B2B Proposition.

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  • This presentation is an overview of sales for Startup companiesThis presentation was written by Julian Poulter, CEO LAMP-360.com and SellingPeople.biz. 2nd Version September 2012
  • Find out more about me on LinkedIn search for Julian PoulterBeen involved in 3 of my own start ups – offroadroutes.net, SellingPeople.biz and LAMP-360.comInvolved with many other start ups in the UK as well whilst providing and managing sales outsourcing services to 50+ companies.
  • Let’s start with a tip and a story:Series of tips, that don’t fit the main agenda, interspersed throughout the main agenda – here’s the first2 ears, one mouth – ask questions (tell you how to structure those later) more than you talk and listen to the answers.A key skill is to be able to have a conversation by asking follow on questions that relate to the answer – shows interest in the buyer.Tell you a story of psychology lecturer - listen to the audio version!Also “Smile” smiling is good: remember, people buy peopleAlso if you are cold calling, good for bodies physiology if you stand up and smile.Now the agenda….
  • AgendaMainly B2B salesTips and hints along the wayGo To Market – broadly how are we going to sell our productKey sales processes – sales and buying cycle and sales modelThe look at key sales requirements in a Startup: generating leads, nurtures, “selling” to close dealsThen a few other issues to be aware of like performance, metrics, recruitment etc
  • Function of a start up? To find a business model that’s repeatable, scalable and earns moneyNot a lot of sales skills/resources – but with little in place, you can start out right
  • The process we talk about here apply to prospects and customers, obviously.But just as relevant to recruitment and particular the sale to investors. A truism but….everybody sells – from the polite receptionists, to your top developer solving ad customer problem – politely, quickly, efficiently.
  • Selling isn’t that difficult – it’s a process to understand and execute, many times, with lots of minor variations. But I think its quite hard because there is a lot of repetition, grunt work – ie cold calling, proposal writing etcPeople buy from people, established that, founders are passionate ,m believe in their product – take you a long way. We’ll talk about the tools you need along the way….
  • Partners – will we go direct or indirect – we still need sales, just a different set of targets.Partners – usually longer to revenue. Recommend combine with direct in short termPhysical, tele or virtual sales or a combinationNow let’s look at deal size and value propositions.
  • 1st a note on deal size, this is a key factor in determining your approach to a market and whether you have a marketing led proposition (banana) or a sales led proposition (ERP software). Deal size – standalone transaction or a year of SaaS revenue.If deal size is less than £300 – you cannot afford sales. It has to be self service, and marketing lead – use the internet for everything, even support. If deal >£2k you can afford to generate leads, pay a sales guy to visit, once or twice and deal with a prospect for days/ weeks/ months.Tricky bit in the middle but roughly £3-£2k. You can afford sales, but probably internal or telephone based. Combine with technology and self service. As an example, imagine an internal sales guy paid £200 per day gross cost, deal value £300 – if he sells one per day this just about works. But One Deal per day needs a lot of marketing effort to generate incoming leads – transactional sales.
  • Let’s introduce the concept of the sales cycle.Lots of sales cycles, here’s a few – but its actually linear, to all intents and purposes.
  • The cycle or process, in this case vertically down the page shows the key steps in a simple sales process. Starting with a lead, end ending with a customer. Simple!Let’s consider who’s responsible at each stage….Often, in more mature organisations, roles taken by different people or departments. Not relevant with 1 * founder?However, even Startup can outsource functions like lead generation (tele-marketing, SEO) A process, why – once you’ve found it, its something repeatable, scalable.Need definitions and more detail…..
  • Ideally a seamless process - this needs alignment between marketing and sales1 * founder – irrelevant – but as soon as employ, sales, outsource telemarketing, SEO/PPC etc – need to be able to measure thisSales is essentially moving the prospect along the process. Tricky to speed up individual prospects speed, cannot force, so need more leads.Sometimes referred to as a “funnel” – shown horizontally – fill the “hopper” with leads Look at characteristics of each stage:Lead – has limited value, includes tyre kickers etcMP – talking and interested but not qualifiedMQL – meets the 5 MQL criteriaSQL – Now being qualified by salesCustomer – They’ve signed (and paid)As they move along, we know more about them and have put more time in to the relationship. The tool that helps us is Qualification – more of that soon. Now, let’s now introduce the concept of lead nurtures: those interested but not ready to buy (for 3-24 months!?). Important group of prospects – 70% progress to buy something within 24 months. Sales process / cycle - We’ll define MQL and SQL in a minute. You could refine and have further steps – like “Proposal” in the sales cycle, but this is a good simple model.Key point is we need a methodology where sales accept or reject MQLs,or they could pass them back to Nurturing. Marketing only pass on leads to sales when qualified, so many will reside in Nurture for some time. Sales funnel – buckets/segments of the process – can measure how many, value and time spent in each bucket.
  • When MQL qualification is reached then the lead is passed to “sales”.Sales can either accept or reject the lead. If its rejected, its passed back to marketing, with a reason – usually for further qualification or timescale – nurturing.Its always clear where responsibility for the lead lies, and this can change regularly. Alternatively knowing where the lead is good for reporting internally and externally even if one person doing it all. Lead nurtures – important - as this can become a large body of leads – those interested but no ready to move forward. In start up may ignore initially but if you want to grow need to handle – many sales cycles are months and buyers engage months before they engage with sales.
  • Need to agree definition of a Lead / MQL / SQLMarketing generates / picks up unqualified leads / suspects, but crucially, when do these leads get passed on to sales or when are they considered worthy of more attention?Need measurement, how many suspects, leads, nurtures, opportunities?? For management, founders, investorsAlso allows accountability and makes it clear who’s responsible at any given time. We propose that there are 4 or 5 key criteria that need to be understood to count as a Marketing Qualified Lead (MQL). Marketing may be able to identify these criteria automatically using software like LAMP, or typically they will phone the leads up using tele-marketing – intelligent humans who have a conversation with the prospect. We can’t afford to visit them yet unless a good company. The 5 criteria to established / qualified are: Correct profile company: correct industry, right size or number of employeesHave a need: recognise they have issues/problems in their business/processesUnderstand we can solve their problem: educated by collateral and marketing that we can solve their problem, not necessarily in detail, at this stageAgreed to sales contact: these days buyers may not need or want to talk to a sales rep until well down their investigation. Forcing a contact to meet, may not help. Finally, Want to move forward (otherwise Nurture): if they are actively researching and moving forward they are qualified much better than those not moving forward. They should go in the Lead Nurture bucket. When they are ready to move, they can perhaps go to sales. Note: Compelling event – its really good if they have a compelling event, forcing them to do something. For instance, an externally imposed regulatory timescale is great.
  • Once MQL established, selling can reallystarts – its now worth the effort.Once a lead has been passed to sales, sales need to properly qualify this lead. This is the start of “selling” proper.Well known acronyms to guide the qualification process, which can be used include BANT and MANDACT. These are good ways to MoneyAuthorityNeed ( already uncovered in MQL) DecisionAbilityCompetitionTimescaleTimescale and money are two of the key ones. Qualification is a key part of the process through out. Consultancy: solve any problemSoftware: specific features, benefits – solve specific needs/pains – more focussed
  • Everyone here has two competitors?! – Do nothing and do internally.Qualification helps you understand your prospect, but importantly where you can win and where you should spend your time.Losing is good (well not that good) – but it does show you are “in the hunt”.You will lose early deals – product not mature enough, prospect not ready to take risk – but you gain market feedback, exposure.
  • A few comments about the sales process.Like any process it needs a system to support it – whether a diary or a CRM system or Outlook.Always be closing. Another key message for sales. A close could be on:The dealThe trialThe next meetingHave closes prepared. The trial close. Ask for something, prospect says, no! Because ??When he gives his reasons, these are objections you can handle – they may be true, false or just mi-understadnings.Handle the objections.
  • Lead scoring is a hot topic these days, and can be useful. If you only have 5 leads per week coming in, you probably don’t need it. But in larger operations with 100s of leads per week, it makes sense to sort the wheat form the chaff. Scoring can take place initially to feed only leads of a certain quality to marketing for initial qualification. The process is built into the marketing automation software (LAMP) and web site. Criteria such as:Job titleCompany sizePiece of collateral downloadedInteraction typeAnswers to profile questionsRecency and frequency of interactions All of these can be given a score. Scoring is not exact but a prospect with 80points is likely to be better than one with 40.
  • So what does a Startup need: Leads, qualification process, etc.We’ve covered qualification, some of closing – now let’s look at lead generation.
  • Need: Lead GenerationHow? LAMP Lean/Lead Automated Marketing Process – an out of the box process supported by software for lead gen and lead nurturing, for Startups and SMEs. We know we need to go and speak to people – who and how do we get to seem themWe need leads – usually plenty of them – as you cant force them down the funnel – qualify out the bad ones, focus on good onesSo we’ve worked out our VPs, we have our target personasTalk now about the Lean / Lead Generation Process – lean ‘cos’ its efficient and cost effective.We now refer to marketing and sales as different people/departments – often will be expect at the beginning.Marketing is now key, broadly there is inbound and outbound. To start the qualification and sales process – recommend use of tele-marketing – intelligent conversations directly with prospects to progress and qualifyNot relevant to all, mainly B2B, the process is relevant to all.
  • Inbound and outbound marketing – crucial to generate leadsWe will suggest a combination of IM and Tele-marketing very good process for B2B lead generationInternet and email can be cheap and effective but low conversionTelemarketing, expensive but high conversion rate. Combine the two in a lean method.
  • Internet marketing consists of lots of interlinked components, inbound and outbound – with the web site at the centreWe drive traffic to our site and Landing Pages and micro sites = conversions = leadsLanding Pages= pages optimised to convert traffic to leads – fill in a form, providing email/name etcMicro-site = a small web site focussed on a specific VP and designed to generate leadsHow do we do this?Network of outlets for our content – which is why people talk to us, they are interested in our message.So 2 key points – content creation and distributionDistribute through multiple channels – email, social media, web site, blog etc30+% of time on content creation
  • Content is very important – significant effort required. Wood floor story in audio version. Types of content:WhitepapersProduct OverviewsSlideshows, Blogs, tweets, news, PR, podcasts, infographicsetcetcAlso crucial for SEO – driving traffic to your site and rankings by search engines – Google like original contentOnce content created – we recommend whitepapers to start with – can be repurposed. Content creation key – your web site is fairly static – but blog dynamic – put everything through thisContent distribution is then key: Like the roots of the tree – trip over, look up notice the tree, link direct you back to web site (tree). Distribute widely – email, social media, blog, web etcSocial media - exponentially expands our distributionOur model – email and social media via Hootsuite, plus outbound using email and the LAMP (Lean/Lead Automated Marketing Process) – more of this now
  • So far we’ve discussed the sales process from our, the sellers’ side of the relationship.Now let’s put ourselves in the buyer’s shoes….A buyer travels along the buyer’s journey as he becomes more aware. We also talk about the Awareness Cycle. Many different buyers for any large sales opportunityNo £20k decision without main board director or even board. Public sector – OJEC (European journal, of tenders)
  • As we move them along the buyer’s journey, remember in our sales process, that helps us quantify/measure – set tasks actions to show they’ve moved alongi.e. they sign up for the trial and use the software – they are now at least Aware, perhaps interested or Looking – depends.
  • We define here the typical buying cycle:Buyers start off Unaware of their need or your proposition.They then become Aware and the Interested in your solution or are actively researching. Non active are probably Nurture.Eventually they can become a Customer.Once a customer you can improve the relationship as they buy more or you service them better.A few, may become ex customers or ‘Dead’ – and we will attempt to win them back.
  • Both journeys/processes move along separately. 90% of sales cycle could be completed with buyer just Aware.Or only at our Lead stage and the buyer is ready to place an order.So how do we deal with buyers? How do we engage them?Provide collateral – for instance in the Unaware phase – industry information, thought leading whitepapers.The content helps the buyer with his business issues – it is NOT product brochures. We get the content to him through email and supported by Social media, PPC etcetcWe have a Stream of collateral for each stage in the journey.
  • We need to link collateral to the buyer’s stage:Awareness StageDescriptionSuggested collateralUnawareInitial contact with suspects where they are essentially unaware of your company or your proposition Whitepapers – industry news and information useful to the suspect and his roleEvents – keynote speakers/analystsAwareSuspects are now educated and aware of your proposition and have interacted with you by email, phone or web. As they are still at an early stage collateral can be very similar to Unaware stageWhite papersProduct demosEventsProduct specific/role specific brochureInterestedSuspects, may now be a prospect as they have usually interacted at least twice and may now be interested in your proposition. By now they will have been called by tele-marketingSpecial offers, trials and proof of conceptsPrice ListsCase Studies and referencesBrochures and fact sheetsUser group eventsCustomerOnce a customer a different type of communication can now be established.Now solving the problem with your productNewslettersUpsells offersEducation in use of product/serviceRenewalsLoyalty programmesUser groupsAlso recognise:Awareness StageDescriptionSuggested collateralUnawareInitial contact with suspects where they are essentially unaware of your company or your proposition Whitepapers – industry news and information useful to the suspect and his roleEvents – keynote speakers/analystsAwareSuspects are now educated and aware of your proposition and have interacted with you by email, phone or web. As they are still at an early stage collateral can be very similar to Unaware stageWhite papersProduct demosEventsProduct specific/role specific brochureInterestedSuspects, may now be a prospect as they have usually interacted at least twice and may now be interested in your proposition. By now they will have been called by tele-marketingSpecial offers, trials and proof of conceptsPrice ListsCase Studies and referencesBrochures and fact sheetsUser group eventsCustomerOnce a customer a different type of communication can now be established.Now solving the problem with your productNewslettersUpsells offersEducation in use of product/serviceRenewalsLoyalty programmesUser groups
  • The messages are linked to the buying cycle, a previously describedHowever, the general marketing mantra of right message……. still appliesThe challenge is still what do we say, what do we write about.This is particularly a challenge for the lead nurtures as that period of nurturing could go on for a long long time.This presentation does not discuss the content in detail, other than it should ideally be fresh and original and engage your readers. Need a system (marketing automation tool) or tool like LAMP which allows you to manage this communication process in a simple but effective manner through the use of communication Streams, linked to each buyer in each stage.
  • Need quality collateralEmail cheap and effective and outbound – we choose who it goes to – lower conversion rates, but still effectiveSupported by social media and importantly tele-marketing, made efficient through content and email.T/M we have said is expensive – but if its reactive and dealing with warm “incoming” leads it can work very well.
  • Summary, simplified lead generation picture:Look at email centric approach – not the only one though….Data base contains our data and knowledge/intelligence – segmented , prepared for campaignEmails go out on regular basis with industry / thought leading collateral. Drip[ fed out in batches of a few 11. Easy to manage and follow up. Spreads the load. Many buyers end of at Lead Nurture When buyer interacts – profile survey questionsThen telemarketing calls – qualify, probe, understand, pitch, output = accurate assessment of situation, future treatment and sales action recommendationThe result of all of this is a drip feed of regular leads, day in day out, not in great big batches.
  • Integelligent hums are important, no matter how good the automation, scoring, Streams etc. We talek about CRM – relationship building etc, but this really only happens when humans get involved. But that’s expensive and LAMP makes that efficient.
  • LAMP = Lead Automated Marketing ProcessLean Automated Marketing ProcessA more comprehensive process. Note in the Aware stream there is a decision point in Unaware which then selects messages for Proposition A or B.
  • The detail and content of the LAMP approach varies from industry to industry and the nature of the products, But it works in many industries.
  • Finally one last process or model. The sales model.We have a keen buyer in front of us. The meeting is winding up and he’s sitting there expectant. He wants our stuff.Great. What do we actually do next – what is the close?The order, a trial, another meeting to his boss??Work out what your sales model is – typical SaaS is demo, trial, free use, upgrade.For enterprise sales – Proof of Concept, paid trial, 2nd meeting, training, send whitepaper, business discovery workshop, contract phase 1 etcetcEvery time you meet, assume the worst, test the deal is still on and close all the time.
  • Bringing it all together…..what does it look like?Digital marketing + Intelligent Telemarketing + salesSales model Demo > Trial could be a long way apart on buyer’s journeyIt’s a bit complicated, but KISS and build.
  • ChallengesTele-marketing needs to be geared up for small amounts of regular work – not a campaign of 5 or 10 days following up a set of leads. Tele- marketers need to be well educated in the process and your propositions to have conversations, they are not reading scripts. They need to be able to recommend sales actions and to move buyers to the correct Streams. Good data is always a benefit and that needs to be constantly worked on. We’ve mentioned the Lead Nurtures a few times already – those interested but not ready to move forward. Over time this can build and build to become a huge rump of your data and it needs attention. Just assigning call backs every month or two to tele-marketing is wastefully expensive. Streams of lead nuture collateral, similar to the normal Aware stream interspersed with tele-marketing calls will usually go a long way. However, don’t leave it to sales or things will bever happen.
  • So what does a Startup need: Leads, qualification process, etc.We’ve covered qualification, some of closing – now let’s look at lead generation.
  • Lead nurturing is key, but in essence it’s the same LAMP process, just extended.We cant afford just to keep calling back. We keep in touch and continue the relationship electronically with email and content.
  • This same process also works for other customer facing processesOr managing suppliers, employees VCs etc etc.
  • Sales 2.0 new buzzword – mostly bullshit in my opinion. Sales today is very similar to 2012, with obvious differences. ButIntelligence – harvest leads and intelligence on prospects from social media – much more is out thereBuyers, more sophisticated – more channels to gather information.Problem is they can engage months earlier than when they are Looking, they are just Aware or Interested. So we need to Nurture! No problem, we know how to do that.
  • So what does a Startup need: Leads, qualification process, etc.We’ve covered qualification, some of closing – now lets; look at lead generation.
  • A lot of time in initial ,meetings se:Prep & InterestAnd MANDACTSPIN: A questioning technique:“The seller uses Situation Questions to establish a context leading to Problem Questions so that the buyer reveals Implied Needs which are developed by Implication Questions which make the buyer feel the problem more clearly and acutely leading to Need-Payoff Questions so that the buyer states Explicit Needs allowing the seller to state Benefits which are strongly related to sales success.”
  • We’ve covered a lot of tools to help you. Each could be a course for 2-3 days. There’s also a lot of other topics you could learn, beyond the scope of todayYou need the basics – remember 80:20 rule. And then recruit the rest, with the skills.
  • Agenda – now the final piece, a few other issues.
  • These issues Ill not dwell on as they don’t become important until you start to have more than 2 people
  • Sales recruitment – remember managing sales is managing unmanageable people who manage people that don’t work for them!Getting it right is tricky, getting it wrong is expensiveIn-house - friends, colleagues, recruitersPsychometric tests – specialised sales tests can be uncannily accurate – can help a lotConsider sales outsourcing – we whitepapers on www.sellingpeople.biz or the LAMP process
  • How do we measure sales performance.A number of simple key metrics can help:The number and value of deals at each stage of the sales cycle (and buying cycle and sales model)Set targets and monitor achievementHave a forecast and pipeline – pipeline= all opportunities, forecast just those in next 3 months that you are focussing onAlso activity – number of calls, DMCs, meetings etcMostly should come from a CRM or LAMP-360
  • It is complex, But several processes and models, make it measureable, accountable, repeatable and scalableThere are some intangiblesQualification is key along with closingRemember VPs, Communication treatments etcFocus on content initiallyKeep it simple
  • LAMP-360 is an out of the box process, supported by technology to generate and nurture leads, through to sales. Have a look at www.lamp-360.com
  • Some planningSome collateral – off you go!Trial LAMP – its free for limited data and emailsPlan lead gen, consider outsourcing
  • Any questions?

Sales for Startups (using the Lean Automated Marketing Process) Sales for Startups (using the Lean Automated Marketing Process) Presentation Transcript

  • Sales for Startups or Lean Business Development September 2012 Julian Poulter, CEO www.lamp-360.com1
  • Please note….There are notes with these slides in SlideshareThere are multiple versions of thispresentation1. This – detailed slides with notes2. Graphical version with notes (tbc)3. Slidecast version with audio (tbc)4. Video version (tbc) www.lamp-360.com
  • www.lamp-360.com
  • Tip #1
  • Agenda A few tips/issues along the way Startup demographics Go to market approach Sales processes & definitions Key Startup sales requirements Organisational & other issues5
  • Start up demographics Transient organisation – Find business model (create value through prod/serv) – Repeatable, scalable 1-5 people – advisors, founders etc Pre-investment • No time/money – Post investment • Less time / More money ! – Techies, not commercial – Limited collateral – Need leads & to close deals efficiently Positive – Little in place – start with best practice6
  • You have 3 Sales Target SectorsProspects > CustomersInvestorsEmployees / ContractorsAlso Everybody in your company must selli.e. Developers in lean/agile developmentmethods
  • Tip #2Any one can do it– Personable– Knowledgeable– Passionate– Hard work– TenacityTypical founders?!Hard work, rejection part of the jobTools to minimise
  • Sales Model: Go to Market Strategy : Options: – Direct / Indirect / both – Physical (field sales, shop) – Virtual – Web, cloud, mobile – Telephone Deal size Value Proposition9
  • Deal Size vs Sales modelDeal Size / ARPU£0-300– self service£300- £2000– internal / tele-sales£2k+– field salesTelesales – cost £200 per dayDeal value say £300 = Close 1 per dayMarketing requirement?
  • Value Propositions20+% founders time in front of customers– Obtain feedback, needs & painsDefine Value Propositions:– Triad of CustomerCrossing the Chasm– Choose 1-2 VPs– Target personas /profiles • Buyers: Economic, Technical, User • MVP VP = very focussed– KISS
  • Sales is a Process: Sales Cycle www.lamp-360.com
  • Sales is a Process • Lead (Marketing) Lead • Initial interest - unqualified • Opportunity (Sales)Opportunity • Pro-active engagement/qualification • Customer (Service) Customer • Implement / Deploy / Train / Support • Repeat / Grow (Account Dev)Repeat/Grow • Sell More / Reference Process = Repeatable & Scalable www.lamp-360.com
  • Process 1: The Sales (funnel) Process Marketing Lead MQL SQL Customer Prospect NURTUREWeb enquiry Engaging Qualified Selling CustomerStand visitor DownloaderVague interest Interested We’re interested Progress Keep/Grow Leads – generate and qualify Lead Nurtures – build up Cannot force it Funnel allows measurement # & £ and Time in each stage
  • Responsibility in The Sales Process Marketing Lead MQL SQL Customer Prospect NURTURE Marketing Sales Sales SalesMarketing qualifies or validates qualifies Proposal andvalidates / nurtures to and accepts MANDACT closes profiles MQL = sales or rejects criteria opportunity. ready ownership.
  • Agree “Lead” Definitions Typical Sales Process Agreed definitions allow Lead Marketing Prospect MQL NURTURE SQL Customer – Measurement – Accountability and responsibility www.lamp-360.com Define Marketing Qualified Leads • Correct profile company • Have a need • Understand we can solve their problem • Agreed to sales contact • Want to move forward (otherwise Nurture)16
  • Definition of Opportunity (SQL) How to qualify a Lead to Opportunity – Sales Qualified Lead Understand business “pain”, its context, is it worth dealing with? Based on agreed qualification criteria – We use MANDACT or BANT • Money • Authority • Need ( already part uncovered in MQL) • Decision • Ability • Competition17 • Timescale
  • “Qualification”The essence #1 of sales– Understand prospects needs– Understand where you can win– Focus YOUR effort – you’ve limited timeNB Losing sales is good
  • Sales is a: Process & Model Marketing Lead MQL SQL Customer Prospect NURTURE Manage the prospect along the process – simple “Sales is managing people who don’t work for you” Agree Prospect’s action, forget until due, then test Always be closing – start of objection handling Need a system / process to manage (CRM/Diary) “Managing sales people is managing people who are unmanageable!” NB They don’t like system and processes!19
  • Tip # : Use of Leads Scoring Important for modest+ volumes only – Based on qualification criteria • Interaction type • Content type • Demographics: Job roles type • Etc – Ensures key leads are handled – Sales only passed qualified (MQL) leads – Not necessary for Startup • Works with lots of leads20
  • Startup Needs Summary Marketing Lead MQL SQL Customer Prospect NURTURE Lead Generation Qualification Process Lead Nurture Process Close Opportunities (“Sales”) Customers: keep and grow Plus some other things21
  • Need: Lead GenerationLean Automated Marketing ProcessWho/how do we go and meet/talk?Agree 1-2 VPs & Personas“Marketing”– Many aspects - “internet” usually key– Inbound & outbound methodsTele-marketing – start of “sales”conversations– Undertaken by founders, initially
  • Inbound & Outbound marketingInbound – best for small bus, long sales,complex– Web site, Google PPC– Social media– Events– Content based marketingOutbound– Telemarketing – expensive £200-400 pd– Email / direct mail – cheap, low conversion– Advertising – expensive, often un-measurable
  • Simplifed Internet Marketing Overview Marketing Initial Marketing Proposal Plan business Workshop assessmentContent: SEO 3 Tweets SEO 1 Main Web Site BlogNews articles LPs & CTAsWhitepapers PPC Adverts External Links Conversions Social Media Micro Site SEO 2 Industry Portals & PR Micro Site Whitepaper Sites Email Messages CRM E- Database commerce 24 Analytics: Before After
  • Content Based: Example Social media network Content: Tweets Hootsuite Twitter Blog News articles Whitepapers Facebook/Co.Repurpose: Email Infographic Messages Slideshare (LAMP) LinkedIn/ Video Podcast Co.+Groups etc Company Google+/Co. Blog Youtube Whitepaper Sites Instagram Pinterest Myspace Q&A PR Sites Delicious Askvisory, Focus UK WD Flickr LinkedIn Answers PRWeb etc25
  • Introducing the Buying CycleImportant, but….What about the Buying cycle?View the process from the buyer’s perspectiveHow he becomes aware, and his journey alongthat path…..Remember many buyers in complex sales(>£20k) – Economic, Technical, User26 Each: a person or group or combined – www.lamp-360.com
  • The Awareness Cycle #2Unaware Aware Interested Looking CustomerMove them along their “Buyer’s Journey”Tip #3: Agree action – then forget until itsdone, or remindNB Sales Cycle – helps us (not the buyer)manage and measure the buying process www.lamp-360.com
  • Typical Stages of Buyer’s Journey Unaware of need Unaware of proposition / solution Aware of problem / solutions Interested or Nurture – research Customer – education / implementation Improve – upsell Dead - changed requirements / environment28
  • Combine: The Sales and Buying cycles Customer Buying Cycle Stages / “Communication Streams” Unaware Aware Interest CustomerUnaware Aware Interested Looking Customer Marketing Lead Marketing cycle MQL SQL Sales cycle Customer ProspectProcesses are “not aligned”Provide Stream of collateral linked to theirstage in the Awareness Cycle– Whitepapers, Videos, Podcasts, Slideshows– Segmentation / personasStream selection: software & humans
  • How to engage buyers Each buyer’s journey needs to be completed step by step Individuals in the same company may be at different stages of the same journey Individuals start the buyer’s journey at different times and travel at different speeds Streams of communication, linked to each Stage in Awareness Cycle “Streams” ensure right: – Message: – Time: – Channel:30 www.lamp-360.com
  • Challenges We need a tool to support the process – LAMP-360 – Marketing Automation We need to plan? What / When to say? Nurturing bit in middle is long?? Up to 30% of marketing budget/time on collateral31
  • Suggested LAMP Approach Create and Distribute Quality Collateral Email as main outbound channel Use tele-marketing – Rifle shot approach – “Human Touch”, Intelligence based But needs to be effective – Quality People, Process & Tools – Email & Marketing Automation – Makes T/M reactive and efficient32 www.lamp-360.com
  • Unaware Stream Buyer Engagement Process x000 emails Prepared Data CRM Database 1000 per day Data / Profiles Email marketing Repeat Stream Review info: Landscaping Whitepaper 29days Whitepaper 29d Whitepaper 29d Video Soft leads 1 2 3 1Aware Nurture leads Intelligence Human Simple T/M thought Call Survey ExperienceInterested Intelligent Case study Progress decision / 1 recommendation Nurture Campaigns Sales briefing and recommendation SaleCustomer Welcome Upsell 1 Campaigns
  • Tele-marketing Follow up Telemarketing – Efficiency vs Cost – Best for med-high value B2B propositions Metrics – Best spread long term 1 Deal – Best calling warm leads – metrics? 4 Proposals 10 Meetings Calling Interactors (downloaders): – Have a conversation with hooks 60 calls per day a. Responded to email content “x” 10 DMCs 1 Lead b. Answered profile survey questions – Further qualify 2 leads per meeting – Put in the correct Stream – Short circuit automated process 10 DMCs – Call within 30m/24hr – higher response Cold or warm?34
  • LAMP Content Marketing Process Repeat StreamUnaware Stream Whitepaper 29days Whitepaper 29d Whitepaper Video Podcasts Whitepaper Video 1 2 3 1 1 4 2 Click to media changes Stream, Survey 1 Product 1 & Decision Product 2 via Survey, chooses Product 2Aware Whitepaper 7days Case study 8d Fact Sheet Nurture Whitepaper 7days Case study 8d Fact Sheet 5 1 1 Campaigns 6 2 2 Survey Click to fact sheet changes Stream 2Interested Brochure 29days Factsheet 29d Special Offer Trial Offer Nurture 2 2 1 1 Campaigns Survey Converts from telemarketingCustomer 3 Welcome 29days Tips & Hints 29d Cust. Survey Tips Newsletter 1 2 1 2 1 35
  • Who to mail – data?You have four sourcesExisting customers (if any)Existing prospects (if any)Continually Build: Email list– Inbound marketing, web leads– Harvest LinkedIn etcPurchased email data– Cold, lower conversion but it works
  • One More Process! #3 The Sales Model How you sell within the sales and buying cycles In front of the keen buyer, what do you do next? The 2nd essence of sales – “The Close”, always be closing Typical SaaS software sales model: – Lead > Meet > Demo > Trial > User > Grow Use every touch point to understand38 MQL/MANDACT
  • Pulling it all togetherUnaware Stream Lead Gen Email Inbound Streams Website Landing pages: Social WP/Events/Media Micro site Quote Demo Call us Trial PPC Surveys Adverts Auto responder emailsAware Demo email Quote email Call email Trial email Auto email Call to Qualify (MQL) Nurture Streams Nurture Sales CB/demo Webinar Webinar Upcoming Demo Streams Call Follow up invite Reminder eventsInterested Trial User Sales Email follow Trial Sales Email follow Nurture Call Terminate free Follow up Call Up & offer 2 Streams Review modeCustomer Purchase Quarterly Monthly Monthly Monthly Welcome & Newsletter Newsletter Newsletter Newsletter upgrade + offer Email & Offers Email streams
  • Lead Generation Challenges Needs thought and attention – Timely action – to follow up interactions – for call backs – move to appropriate Streams – clean data What to do – Qualified, called, but not yet ready? – Aware / interested Stream? Outsource? – The Nurture?40
  • Startup Needs Summary Marketing Lead MQL SQL Customer Prospect NURTURE Lead Generation Qualification Process Lead Nurture Process Close Opportunities (“Sales”) Customers: keep and grow Plus some other things41
  • Lead NurturingHandle the rump of leads “not yet ready,but interested”Similar process to lead gen – but elongatedtimescalesEconomics– Email vs tele-marketing– Combine: LAMP Process– More content
  • Why do lead nurturing?50% of mew leads, from old nurtured leadsLower cost per opportunityAberdeen Group:– 107% better lead conversion– 40% bigger deal sizeSherpa– 80% of poor prospects go on to buy in 24 months– Communication can be key differentiator during sales cycle
  • Other uses – similar processCustomer onboardingTrial managementMaintenance renewalsEvent managementCustomer upsell
  • Example Case StudyCVLOver 6 months6 Whitepapers22000 records338 “leads”, run rate 70 per monthMQLs 73 c8 per month = c10%SQLs 18
  • Tip #4: Sales 2.0 1912-2012: B2B fundamentally the same Mobile is different (interface) Sales intelligence: Social Media: 2009+ – Extra ways to find out about the prospect Buyers sophisticated: “75% of purchase, made on web before contacting sales” Prospects engage 6-24 months earlier – But mostly Nurture – Wont buy for 6-24+ months Nurture programme is key46
  • Startup Needs Summary NURTURE Lead Generation Qualification Process Lead Nurture Process Close Opportunities (“Sales”) Customers: keep and grow Plus some other things47
  • Closing OpportunitiesYou’ve had a few tips already. What else?“Nice” bit – when you have an “Active”prospect!Use the sales tools?
  • The Sales Cycle “Tools” SalesPISTDC qualifies Your SPIN MANDACT Sales Model criteria
  • SPIN & PISTDCMeeting Structure – PISTDC– Preparation– Interest– Survey– Test– Demonstrate & CloseSpin (survey) Questioning– Situation– Problem– Impact– Need
  • Sales ToolsSPINMANDACT / BANTPISTDCAdditional topics:– Negotiation skills (negotiate – don’t discount)– Presenting skills– People skills & 3Ds– Tenacity
  • Agenda A few tips/issues along the way Startup background Go to market approach Sales processes & definitions Key Startup sales requirements Organisational & other issues52
  • Tip #5: Sales organisationFor more mature organisations:Accounts vs new businessLead gen vs sales vs marketingInternal vs externalTerritory allocation / managementKey account strategiesInternal sales
  • Tip #6: Sales recruitment Haven’t got time for training Psychos Recruiters Outsource or insource Consider sales outsourcing “solutions” – Flexible resources – Team solution – Experience – Cost effective54– No recruitment fees / employment liabilities
  • Tip ~7: Measuring performance Metrics – £ and # Target and actuals Forecast Pipeline target, achieved, pipeline # Pipeline opportunities Activity – Meetings / Calls / DMCs55
  • SummarySales complexProcess & models = measurableSome intangibles and flairQualify, Close, Qualify, CloseVPs and Persona Streams & TreatmentsFocus on content creationKISS
  • LAMP-360Out of the boxLAMP Process supported by softwareLead gen and lead nurtureFor Startups and SMEswww.lamp-360.com
  • Take AwaysFew hours planningFew days collateral creationTry the questionnaire– See where you are in the skills & experienceTrial LAMPOut source lead gen?
  • Questions and contact info Thank you julian.poulter@lamp-360.com www.lamp-360.com UK +44 (0)20 3397 072559