Webinar the death of cold calling


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The Death of Cold Calling - A new Paradigm for b2b lead generation

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  • Cut a block out and drive the first part of the slideDon’t need magnifying glass…Real message in bottom 2 boxes
  • Cut a block out and drive the first part of the slideDon’t need magnifying glass…Real message in bottom 2 boxes
  • Webinar the death of cold calling

    1. 1. The death of cold calling - a new paradigm for lead generation<br />Presented by: <br />Kevin Miller – EVP Marketing/Sales – SalesFUSION<br />Session Audio Starts at 2PM EST<br />
    2. 2. What we’ll cover today<br /><ul><li>Cold Calling – Death versus evolution
    3. 3. Lead generation in 2011 – Hijacking the digital conversation
    4. 4. The statistical failure of cold calling
    5. 5. Where do leads originate from in 2011 and beyond?
    6. 6. Adapting sales and marketing to optimize the digital conversation
    7. 7. The journey to lead to sales revenue management
    8. 8. The changing view of telesales/inside sales</li></li></ul><li>About SalesFUSION<br /><ul><li>SaaS Marketing Application
    9. 9. HQ – Atlanta, GA – Sales Offices in Philadelphia, PA
    10. 10. Provide all b2b marketing functionality in a single app
    11. 11. Focus on integrating Marketing and Sales (CRM)
    12. 12. Only solution built on a CRM database
    13. 13. Extensive global partner network
    14. 14. 110 New clients in 2010
    15. 15. Unique Client Services model
    16. 16. Game-changing pricing structure
    17. 17. 99% retention rate
    18. 18. 90% of all new features added in 2010 – customer requests</li></li></ul><li>The best film about sales leads….ever<br />
    19. 19. A few assumptions<br /><ul><li>Death versus evolution
    20. 20. Telephone prospecting is still very important
    21. 21. How, why and when we telephone prospect has changed radically</li></ul>Telesales and Cold calling has been fired and replaced by the internet…..but your company many not know that yet…<br />“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” Charles Darwin<br />
    22. 22. The “If you don’t know this you live under a rock” statistics<br />Retail - The Pew Internet and American Life Project has just published the results of a study on American's e-commerce habits. Among the findings: 58% of Americans say they perform online research on the products and services they're considering buying. That's up from 49% who performed online research in 2004. <br />B2B - 93% of business-to-business customers research companies and products online before making a purchase, according to MarketingSherpa<br />
    23. 23. Lead Generation in 2011 and beyond<br />Demands a new paradigm for telesales…<br /><ul><li>Many b2b buyers are engaged in a digital conversation with your company
    24. 24. Most companies don’t know about this conversation
    25. 25. By the time telesales speaks to a prospect, opinions about you are formed
    26. 26. Successful companies learn ways to “Hijack the Digital Conversation”
    27. 27. Do you trust the internet to sell for you?
    28. 28. Conversation channels are fluid and changing and evolving monthly</li></li></ul><li>The Numbers<br />Why is cold calling icky?<br />It fosters a culture of “taking”<br /><ul><li> Cold calling is a practice of starting a b2b relationship by Taking something from a prospect without asking first
    29. 29. Take their time
    30. 30. Take their information
    31. 31. Most people feel uncomfortable “taking” something from someone.</li></ul>Traditional lead generation/selling models foster an environment of “Taking”<br /><ul><li>More calls – more appointments – more sales….or your fired.
    32. 32. Leads to employee dissatisfaction, unattainable quotas, re-training costs for new hires to replace those who have been fired or quit out of frustration</li></ul>Consider the following sales people’s statistics:<br /><ul><li>44% of sales reps quit after 1 no
    33. 33. 22% quit after 2
    34. 34. 14% quit after 3
    35. 35. 12% quit after 4 (total is 92%)</li></ul> 60% of customers say no at least 4 times<br />
    36. 36. The Numbers<br />Sales is a numbers game….right?<br />B2B Sales Rep = COGS<br /><ul><li>$50,000 base salary
    37. 37. + Benefits
    38. 38. Salary plus benefits = $65,000
    39. 39. 100 Calls per day
    40. 40. 5 Days per week
    41. 41. Avg. 42 Full weeks per year
    42. 42. 210 calling days
    43. 43. 21000 calls
    44. 44. 525 Connects
    45. 45. 105 Sales</li></ul>100 Calls<br />2-3 Appointments<br />.025 connect rate<br />.5 Sales<br />.005 close rate<br />
    46. 46. The Numbers<br />Sales is a numbers game….right?<br />B2B Sales Rep = COGS<br /><ul><li>21000 calls = $3.10 per call
    47. 47. 525 Connects = $123 per connect
    48. 48. 105 Sales = $619 per sale</li></ul>Assumptions <br /><ul><li>Consistent 100 calls per day to new leads
    49. 49. Connect = telephone-based meeting
    50. 50. Sale = closed revenue
    51. 51. Time to work deals?
    52. 52. Time for administrative work?
    53. 53. Time in meetings?
    54. 54. Are these numbers even realistic for internal personnel?</li></ul>100 Calls<br />2-3 Appointments<br />.025 connect rate<br />.5 Sales<br />.005 close rate<br />
    55. 55. The Numbers<br />More sobering statistics<br /><ul><li>It takes 8.4 dials to reach a person, and 2% of all calls results in a meeting.
    56. 56. If 30% of these first meetings convert into opportunities and a sales person closes 25% of these opportunities, they will have to make 1,000 calls to get 1 sale.
    57. 57. If they are pounding the phones making 50 cold calls per day, they can get 1 winnable sale every 20 days.
    58. 58. At this rate they can acquire 12.5 new customers per year. </li></li></ul><li>Where do leads originate from in B2B - 2010<br />Base: 249 B2B marketers at companies with 50 or more employees<br />(multiple responses accepted, does not include “other”)<br />
    59. 59. More from Forrester – what are company’s top marketing/sales challenges in 2010?<br />
    60. 60. How are leading b2b sales/marketing teams adapting?<br />Marketing’s Role<br /><ul><li> Identify leads
    61. 61. Generate leads
    62. 62. Execute campaigns
    63. 63. Pre-qualify leads
    64. 64. Nurture leads
    65. 65. Re-Market stale sales leads</li></ul>Sales’ Role<br /><ul><li> Complete lead qualification
    66. 66. Present and propose solutions
    67. 67. Propose pricing
    68. 68. Execute contracts
    69. 69. Close business
    70. 70. Cross-sell</li></ul>14<br /><ul><li>Changing traditional roles
    71. 71. Inside sales is no longer a sales function
    72. 72. Skill-sets for inside sales are changing
    73. 73. Marketing – ½ Focus on brand & ½ Focus on Upper Funnel Development</li></li></ul><li>15<br />Beginning the journey to lead to sales revenue management…<br /><ul><li>Marketing – focus on upper-funnel development using all available channels, techniques and communication mediums
    74. 74. Telesales – triage, manage, respond and advance inbound leads
    75. 75. Sales – focus on closing business</li></li></ul><li>Change the way you view telesales/inside sales<br />They are not phone jockeys anymore<br />Think air-traffic controller<br /><ul><li>Monitor and direct lead traffic
    76. 76. Exchange meaningful information with the leads
    77. 77. Direct leads to the right resources
    78. 78. Educate leads about value proposition and competitive position
    79. 79. Empowered with technology
    80. 80. Higher job satisfaction
    81. 81. Better growth potential
    82. 82. They become a marketing and field sales “Farm Team”</li></li></ul><li>2011 Lead to Sales Process <br />What should an inside sales model look like?<br />Inbound Leads Process for Inside Sales<br />Telesales Duties<br />CRM<br /><ul><li>Log calls
    83. 83. Append data
    84. 84. Create Opportunities
    85. 85. Pre-qualify
    86. 86. Identify other contacts
    87. 87. Send task to sales</li></ul>Telesales – Web visitor monitoring<br /><ul><li>Daily Monitor
    88. 88. Respond – 2-4 hours to known visitors
    89. 89. Enroll known visitors into 3-step drip
    90. 90. Accounts – research using LinkedIn and Jigsaw– add 2 marketing contacts to Fusion – enroll in 3-step drip</li></ul>Home Page<br />Activity Log<br />CRM<br />Lead Capture<br />Page<br />Simple process maps will help focus the marketing and sales teams on execution of the plan<br />Opportunity<br />Field Sales Duties<br />Sign Up for Demo or self qualify<br />Email Alert to reps based on Geo<br />Rep – verifies company HQ location<br />Rep – updates CRM – creates oppt<br />Ensure contacts/account are linked and de-duped<br />Append address, phone, vertical and lead source<br />
    91. 91. 4 technologies inside sales needs to thrive<br />Website monitoring station<br /><ul><li> View, identify, receive alerts of leads on the website
    92. 92. Integrate with data services to research and append contacts
    93. 93. View page-level activity from high-score leads</li></ul>Email Marketing<br /><ul><li> 1-touch enrollment in multi-step campaigns
    94. 94. Follow up emails using trackable html email
    95. 95. Bulk email capabilities to call lists</li></ul>Data appending and social tools<br /><ul><li> Research and import contacts from identified companies on the site
    96. 96. 1-touch enroll net new contacts into first-touch campaigns</li></ul>Campaign activity reports<br /><ul><li>Access to daily/weekly/monthly campaign reports
    97. 97. 1-click access to marketing history for leads</li></li></ul><li>Website monitoring station<br />What is it?<br />Web visitor tracking is a newer type of web analytics that captures, alerts and routes website leads based on rules.<br />
    98. 98. Access to enroll leads in campaigns<br />Auto-enroll<br />Alerts<br />Email alert – Based on Rules<br />Alert telesales to view/open in CRM<br />Automated Routing to drip/trigger based nurture marketing campaigns<br />
    99. 99. Day in the life with Marketing Automation<br />Website monitoring<br />Research anonymous visitors – append with contacts – enroll in campaigns<br />Pop email alert when high-value activity occurs – assign task for call<br />If no phone contact made – enroll in trigger campaign<br />Receive on-going alerts when lead returns to site/responds<br />
    100. 100. Access to critical information<br /><ul><li>Give telesales the tools to access info and take action
    101. 101. This view allows for telesales to view activity and enroll leads in campaigns</li></li></ul><li>The importance of marketing automation tools<br /><ul><li>Provides a mechanism for real-time lead monitoring
    102. 102. Reduces lead response time
    103. 103. Allows for enrollment in pre-defined trigger campaigns
    104. 104. Increases touches in first 30-days following initial inquiry
    105. 105. Allows for research and appending of data through sources such as Jigsaw
    106. 106. Alerting via email ensures leads are touched quickly</li></li></ul><li>Create a lead-centric culture<br />Establish a dialog between marketing/sales<br /><ul><li>Regular meetings – rotate between pipeline-centric meetings to lead/demand generation-centric meetings
    107. 107. Understand sales-team issues with leads – volume, where they come from
    108. 108. Brainstorm sessions about lead profiles, verticals, targets, messaging and hot buttons
    109. 109. Sales is the best source for “Why a lead buys” information</li></ul>Create simple process maps <br /><ul><li>Define on paper who does what, when and why
    110. 110. Assign people by name to stages in a process map</li></ul>Considerations<br /><ul><li>Sales may be resistant to change or dis-interested in leads
    111. 111. Old-School sales cultures must be changed
    112. 112. CRM system tuning will be required
    113. 113. Marketing technology MUST integrate seamlessly to CRM
    114. 114. Reporting must be in place to track the process and hold constituents accountable</li></li></ul><li>How marketing automation supports this model<br /><ul><li>Lead Scoring/Routing enables automated nurturing of leads
    115. 115. Trigger-based email campaigns – prebuilt and tied to scores
    116. 116. Lead scoring must be tuned, tested and agreed upon with sales
    117. 117. Objective is to treat every suspect the same initially
    118. 118. Eliminate lead leakage
    119. 119. Target content based on behavior and demographics</li></li></ul><li>How important is this to your upper funnel success?<br />According to Aberdeen, who tracks the performance of “Best Practice” organizations utilizing marketing automation tied to telesales….<br /><ul><li>Inside sales achieves quote 11% more when marketing automation is deployed
    120. 120. Lead conversions (to opportunities) increased by 7%
    121. 121. Inside sales make an additional 7-9 connects per day
    122. 122. Overall sales team quota achievement is higher by nearly 3%
    123. 123. Company revenue is higher by over 3%</li></ul>Why?<br /><ul><li>For the same Reason Henry Ford was able to produce more cars for less
    124. 124. Efficiency gains through automation
    125. 125. Connects are more meaningful when data is made easily accessible
    126. 126. Fewer (if any) leads fall through the cracks</li></li></ul><li>Questions?<br /><ul><li>Participate in our DOCC Nurture Campaign
    127. 127. Schedule a demonstration of SalesFUSION
    128. 128. Learn more www.salesfusion.com</li></ul>Core Features<br /><ul><li>Enterprise b2b marketing
    129. 129. Advanced email marketing
    130. 130. Lead scoring
    131. 131. CRM integration – Salesforce, Dynamics, Sugar, Saleslogix…
    132. 132. Web visitor tracking
    133. 133. Dialogs, forms, landing pages
    134. 134. Social media marketing
    135. 135. Event management</li>