Finding Untapped Revenue in Your Database

Finding Untapped Revenue in Your Marketing Database Elevate 2010

Introduction Jep Castelein Founder of LeadSloth www.leadsloth.com @jepc @leadsloth

1848 James Marshall Discovers Gold

The CHALLENGE

How Much REVENUE Are You Missing Out On?

NURTURE Leads to Assure More Revenue

The FACTS

50% of Leads are NOT Ready to Make the Jump

23% BUY from a Competitor 6 Months after Inquiry

Nurtured Leads Produce 20% MORE Sales Opportunities

The ASSESSMENT

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?

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?

Example: Low Value Lead Database

The 7 STEPS

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

# 1: COLLABORATE with Sales

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

• 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

# 2: CHOOSE the Right Audience

• 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

# 3: Know them WELL

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

• GoodData, SaaS business intelligence software • Developed three personas • Executive • Power user • BI developer # 3: Personas According to Job Role

# 4: Provide VALUABLE Content

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

• 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

# 5: Make OFFERS They Can’t Refuse

• 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

# 6: HAVE Conversations

Email 1 Email 2a Email 3 Email 1 Email 2b Email 3 Email 1 Email 2c Email 4 # 6: Campaign Tracks

• 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

# 7: Track & MEASURE

# 7: Example Dashboard

• 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

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

Q&A jep@leadsloth.com 1-888-4A-SLOTH www.leadsloth.com @jepc @leadsloth

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Finding Untapped Revenue in Your Database

by LeadSloth on Sep 28, 2010

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