Finding Untapped Revenue in Your Database

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This is my presentation at the Pardot User Conference, September 28, 2010 in Atlanta. It's an expanded and improved version of my "7 steps to find untapped revenue" presentation.

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Finding Untapped Revenue in Your Database

  1. 1. Finding Untapped Revenue in Your Marketing Database Elevate 2010
  2. 2. Introduction Jep Castelein Founder of LeadSloth www.leadsloth.com @jepc @leadsloth
  3. 3. 1848 James Marshall Discovers Gold
  4. 4. The CHALLENGE
  5. 5. How Much REVENUE Are You Missing Out On?
  6. 6. NURTURE Leads to Assure More Revenue
  7. 7. The FACTS
  8. 8. 50% of Leads are NOT Ready to Make the Jump
  9. 9. 23% BUY from a Competitor 6 Months after Inquiry
  10. 10. Nurtured Leads Produce 20% MORE Sales Opportunities
  11. 11. The ASSESSMENT
  12. 12. 1. Acquired Names vs. Inbound Leads 2. Length of the Buying Process 3. Recency 4. Activity Level 5. List Fatigue 6. Cross-sell Opportunity 7. Fit with the Ideal Customer Profile How MUCH Are Your Leads Worth?
  13. 13. 1600 1400 1200 1000 800 600 Leads 400 200 0 0-3 3-6 6-12 >1 Year Months Months Months Visualization: How OLD Are Your Leads?
  14. 14. Example: Low Value Lead Database
  15. 15. The 7 STEPS
  16. 16. The Lead Nurturing Process 1. 2. Sales & Marketing Choose The Right Alignment Audience 7. 3. Invest in Track & Measure Personas 6. Have 4. Conversations Provide Valuable Content 5. Create the Right Offers
  17. 17. # 1: COLLABORATE with Sales
  18. 18. MARKETING New Nurturing MQL Lead SALES Recycled Lead Customer Evaluation SAL Long-term Lead SQL Selling Customer Lost deal/ Closing Cancelled # 1: EXAMPLE Lead Flow
  19. 19. • Meltwater News: PR software company • Sales-oriented culture • Skepticism towards marketing • No CRM integration: Too hard for sales to find the leads • We got lucky: First opportunity within 1 week # 1: Sales ALIGNMENT Challenges
  20. 20. # 2: CHOOSE the Right Audience
  21. 21. • PEPID: Medical software for smart phones • 30-day trial: Most people don’t even try • However, most are still interested • Easier to convert existing trial leads than getting new trial leads to sign up • Often, your existing lead database is a goldmine # 2: Focus on Reactivating Trial Leads
  22. 22. # 3: Know them WELL
  23. 23. 1. Desk Research • Job websites • Conference agendas • Online magazines & blogs 2. Interviews • Intros via LinkedIn • Record quotes 3. Validation # 3: Three Steps to a Buyer Persona
  24. 24. • GoodData, SaaS business intelligence software • Developed three personas • Executive • Power user • BI developer # 3: Personas According to Job Role
  25. 25. # 4: Provide VALUABLE Content
  26. 26. Awareness Evaluation Decision Economic Whitepaper about ROI Calculator Analyst Report Buyer industry trends End User Demo Video Webinar Customized Demo Technical Technical Whitepaper Product Trial Proof-of-concept User # 4: Content Mapping EXAMPLE
  27. 27. • Backbase, enterprise portal software • Entering new vertical • Webinar series • Three highly-relevant topics: • Analyze trade magazines and blogs • Monitor social media • Look at conference agendas # 4: Develop Compelling Content
  28. 28. # 5: Make OFFERS They Can’t Refuse
  29. 29. • FuneralOne, marketing software for funeral homes • Goal: Get prospects on the phone • Offers: • Website review • Website preview • Excellent pre-sales support # 5: Know What Your Goal Is
  30. 30. # 6: HAVE Conversations
  31. 31. Email 1 Email 2a Email 3 Email 1 Email 2b Email 3 Email 1 Email 2c Email 4 # 6: Campaign Tracks
  32. 32. • Distinguish long-term campaigns and triggered campaigns • First couple of emails very targeted • Then regular nurturing track (Duration: Twice the sales cycle) • Then long-term nurturing track • Separate track: Event invitations # 6: Smart Campaign Reuse
  33. 33. # 7: Track & MEASURE
  34. 34. # 7: Example Dashboard
  35. 35. • rPath, data center management software • Dashboard project • Improve visibility into marketing performance • Approach: • Define what you want to know • Create a sample report • Implement # 7: Know What You Want to Measure
  36. 36. The Lead Nurturing Process 1. 2. Sales & Marketing Choose The Right Alignment Audience 7. 3. Invest in Track & Measure Personas 6. Have 4. Conversations Provide Valuable Content 5. Create the Right Offers
  37. 37. Q&A jep@leadsloth.com 1-888-4A-SLOTH www.leadsloth.com @jepc @leadsloth
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