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Top Seven Turn-Around Tips to  Drive More B2B Revenue          Jep Castelein       jep@leadsloth.com
7 Tips• Marketing as a Revenue Driver• Focus on online marketing• Two scenarios:  – Improvements with CRM & Email Marketin...
1. METRICS-DRIVEN MARKETING
Metrics“In God we trust; All others must bring data”-- W. Edwards Deming
Types of Metrics• Response Measurements  – Response/Conversion rate• Cost Measurements  – Cost per Qualified Lead• Revenue...
Convert More Leads Into Customers                                                       Lead Management Closes the Gap    ...
SiriusDecisions DemandGen Waterfall           Source: SiriusDecisions, Inc
Measure Conversion RatesSiriusDecision‘s Waterfall Model gives benchmark numbers for conversion ratesbetween the different...
Basics: Process, CRM & Excel1.   Define Qualified Leads2.   Let Sales give back leads to Marketing3.   Track Opportunities...
MA: Automate Reporting1.   Define Qualified Leads2.   Let Sales give back leads to Marketing3.   Let the system capture th...
2. PREVENT FOLLOW-UP FAILURE
Why Follow-Up Failure• No Leads Left Behind• Facts  – 50% of Leads are not ready to buy  – After 6 months, only 23% have b...
Create Formal Lead Flow                                          MARKETING  New                 Nurturing     MQL  Lead   ...
Basics: Use Lead Status in CRM• Lead Status should indicate the stage in the  buying process• Qualified leads should move ...
MA: Automate Lead Flow• Use Lead Scoring to qualify leads• Automatically enter leads into email nurturing  campaigns
3. SEGMENT YOUR LIST
Why Segmentation?• Relevant messages are more effective  – Segmented Emails: 30% More Opens, 50% More    Clicks• Segment b...
Buyer Persona Step-by-Step1. Desk Research  –   Goals  –   Pain Points  –   Needs2. Persona Interviews  –   Ask select cus...
Basics: 3-5 Segments• Create 3-5 segments, e.g. based on:  – Job role  – Type of contact (customer, prospect, other)  – Ve...
MA: Dynamic Segmentation• Segment on any field• Segment based on behavior, e.g.:  – People who respond to 3 emails will ge...
4. CREATE COMPELLING CONTENT
Write For The Reader• Content Mapping  – Buying Stage  – Role (executive, end user)• Mix Formats (whitepaper, webinar, vid...
How to Create Content Quickly•   Link to Other People’s Content•   Ask a thought leader to contribute•   Interview coworke...
Optimize Your Emails•   Receive > Open > Read > Respond•   Short and concise subject line (40-50 chars)•   Use a Headline•...
Basics: Compelling Content• Send different content to different roles• The click rate will tell you how compelling the  co...
MA: Send the Right Content• Use Lead Score and Web Activity to determine  stage in the buying process• Vary nurturing freq...
5. MINE YOUR EXISTING DATABASEFOR BUSINESS
Don’t Waste Lead Gen Dollars• Reconnect with dormant leads• Be upfront that you haven’t emailed for a long  time• Create a...
How Much Are Your Leads Worth?1.   Fit with the Ideal Customer Profile2.   Acquired Names vs. Inbound Leads3.   Recency4. ...
Visualization: How Old Are Your Leads?
Basics: CRM & Email• Select dormant leads in your CRM system• Send them an email series and monitor  responses• Update sta...
MA: Lead Reactivation Program• Select the dormant leads• Schedule the email sequence• Create automation rules to update le...
6. NO MORE EMAIL BLASTS: CHANGETHE WAY YOU USE PURCHASED LISTS
56% Thinks That “Just Not Interesting”           Email is SPAM
Have Educational Offers• NOT: asking for the appointment  – You’ll only get today’s hot leads  – You can send such an emai...
Design Multi-Step Campaigns• You cannot force leads to buy, they will buy  when they are ready• Different people may be in...
Send On Behalf of Real People•   Sales person•   Sales Development Rep•   Marketing manager•   Fictitious person• Include ...
Choose a Good Subject Line• 40-50 Characters• Attract attention:  – Cryptic  – Curiosity-invoking  – Typos• Test different...
Use Basic Formatting•   “Outlook” formatting•   10-40% higher response rates•   Include signature•   Personalize beyond th...
7. INCREASE SALES PRODUCTIVITY
What Does Sales Want From Marketing?• Get Qualified Leads who want to talk to them• As much info as possible on a lead’s o...
Better Lead Priorities• Make someone responsible for lead  qualification (other than the sales person)• Define Ideal Custo...
Basics: Sales Collaboration• Train sales people to look at lead statuses in  the CRM system to find the best new leads• Ha...
MA: Advanced Sales Alignment• Sync CRM and Marketing Automation• Provide a prioritized lead list based on lead  score• Sho...
The 7 Steps1.   Metrics-Driven Marketing2.   Prevent Follow-up Failure3.   Segment Your List4.   Create Compelling Content...
Q&A      Jep Castelein      jep@leadsloth.com      www.leadsloth.com      @jepc @leadsloth
Top Seven Turn-around Tips to Drive More B2B Revenue
Top Seven Turn-around Tips to Drive More B2B Revenue
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Top Seven Turn-around Tips to Drive More B2B Revenue

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Transcript of "Top Seven Turn-around Tips to Drive More B2B Revenue"

  1. 1. Top Seven Turn-Around Tips to Drive More B2B Revenue Jep Castelein jep@leadsloth.com
  2. 2. 7 Tips• Marketing as a Revenue Driver• Focus on online marketing• Two scenarios: – Improvements with CRM & Email Marketing only – Improvements with Marketing Automation
  3. 3. 1. METRICS-DRIVEN MARKETING
  4. 4. Metrics“In God we trust; All others must bring data”-- W. Edwards Deming
  5. 5. Types of Metrics• Response Measurements – Response/Conversion rate• Cost Measurements – Cost per Qualified Lead• Revenue Measurements – Buying Stage Conversion Rates – % of Pipeline Sourced by Marketing
  6. 6. Convert More Leads Into Customers Lead Management Closes the Gap in The Middle of the Funnel Source: October 2006, Best Practices “Improving B2B Lead Management”
  7. 7. SiriusDecisions DemandGen Waterfall Source: SiriusDecisions, Inc
  8. 8. Measure Conversion RatesSiriusDecision‘s Waterfall Model gives benchmark numbers for conversion ratesbetween the different stages in the funnel. With improved lead management,conversion rates will be higher.SiriusDecisions Inquiries MQLs SALs SQLs SQL-to-closeBenchmark N/A 5.1% 61% 56% 26.5%Best Practice N/A 9.7% 82% 62% 29% MQL = Marketing Qualified Lead SAL = Sales Accepted Lead SQL = Sales Qualified Lead (i.e. sales opportunity identified)Example: moving from Benchmark to Best PracticeFor each 1,000 leads, best-in-class companies create 46 more MQLs thanbenchmark companies (97 instead of 51). They create almost 10 additionaldeals (14.3 instead of 4.6 deals, a 300% increase).
  9. 9. Basics: Process, CRM & Excel1. Define Qualified Leads2. Let Sales give back leads to Marketing3. Track Opportunities in a CRM system4. Every week: put the # of new leads, new qualified leads, new opportunities and won business in a spreadsheet
  10. 10. MA: Automate Reporting1. Define Qualified Leads2. Let Sales give back leads to Marketing3. Let the system capture the data4. Use the system to generate reports
  11. 11. 2. PREVENT FOLLOW-UP FAILURE
  12. 12. Why Follow-Up Failure• No Leads Left Behind• Facts – 50% of Leads are not ready to buy – After 6 months, only 23% have bought – Nurtured Leads deliver 20% more sales opportunities – Best-in-class Lead Nurturing produces 50% more sales-ready leads at 33% lower cost per lead
  13. 13. Create Formal Lead Flow MARKETING New Nurturing MQL Lead SALESRecycled LeadCustomer Evaluation SALLong-term Lead SQL Selling Customer Lost deal/ Closing Cancelled
  14. 14. Basics: Use Lead Status in CRM• Lead Status should indicate the stage in the buying process• Qualified leads should move in 7 days: – Disqualified – Recycled – Qualified• If you use Salesforce.com, add Contact Status field to Contacts
  15. 15. MA: Automate Lead Flow• Use Lead Scoring to qualify leads• Automatically enter leads into email nurturing campaigns
  16. 16. 3. SEGMENT YOUR LIST
  17. 17. Why Segmentation?• Relevant messages are more effective – Segmented Emails: 30% More Opens, 50% More Clicks• Segment by – Demographics/Firmographics – Behavior
  18. 18. Buyer Persona Step-by-Step1. Desk Research – Goals – Pain Points – Needs2. Persona Interviews – Ask select customers – Record the conversation3. Persona Workshop – Get feedback from sales – Test whether persona description sounds realistic
  19. 19. Basics: 3-5 Segments• Create 3-5 segments, e.g. based on: – Job role – Type of contact (customer, prospect, other) – Vertical• Upload this information in your email tool, so you can segment based on that
  20. 20. MA: Dynamic Segmentation• Segment on any field• Segment based on behavior, e.g.: – People who respond to 3 emails will get subsequent emails fast (acceleration) – Send a email to all people who visited the “Financial Services” section on your website
  21. 21. 4. CREATE COMPELLING CONTENT
  22. 22. Write For The Reader• Content Mapping – Buying Stage – Role (executive, end user)• Mix Formats (whitepaper, webinar, video, etc.)• Use Simple Words – “Use” instead of “Leverage”• Avoid Jargon – Check at http://gobbledygook.grader.com/
  23. 23. How to Create Content Quickly• Link to Other People’s Content• Ask a thought leader to contribute• Interview coworkers (podcast/video)• Collaborate with partners• Reuse content across formats
  24. 24. Optimize Your Emails• Receive > Open > Read > Respond• Short and concise subject line (40-50 chars)• Use a Headline• Present benefits• Be brief: no more than 3 paragraphs• Use only 1 call-to-action
  25. 25. Basics: Compelling Content• Send different content to different roles• The click rate will tell you how compelling the content is• Ask people for feedback on the content
  26. 26. MA: Send the Right Content• Use Lead Score and Web Activity to determine stage in the buying process• Vary nurturing frequency based on interest level• Measure download rates for PDFs• Automatically send email to ask for rating
  27. 27. 5. MINE YOUR EXISTING DATABASEFOR BUSINESS
  28. 28. Don’t Waste Lead Gen Dollars• Reconnect with dormant leads• Be upfront that you haven’t emailed for a long time• Create a series of emails (not just one)• Define your success criteria and follow-up strategy
  29. 29. How Much Are Your Leads Worth?1. Fit with the Ideal Customer Profile2. Acquired Names vs. Inbound Leads3. Recency4. Activity Level5. Cross-sell Opportunity
  30. 30. Visualization: How Old Are Your Leads?
  31. 31. Basics: CRM & Email• Select dormant leads in your CRM system• Send them an email series and monitor responses• Update status in CRM for responders and non- responders
  32. 32. MA: Lead Reactivation Program• Select the dormant leads• Schedule the email sequence• Create automation rules to update leads based on responses
  33. 33. 6. NO MORE EMAIL BLASTS: CHANGETHE WAY YOU USE PURCHASED LISTS
  34. 34. 56% Thinks That “Just Not Interesting” Email is SPAM
  35. 35. Have Educational Offers• NOT: asking for the appointment – You’ll only get today’s hot leads – You can send such an email only once – You’ll miss out on leads that need more time• INSTEAD: offer useful content – Everyone wants to learn – Builds credibility – Allows you to develop an email series
  36. 36. Design Multi-Step Campaigns• You cannot force leads to buy, they will buy when they are ready• Different people may be interested in different topics• Vary the day and time of the day
  37. 37. Send On Behalf of Real People• Sales person• Sales Development Rep• Marketing manager• Fictitious person• Include company name if well-known
  38. 38. Choose a Good Subject Line• 40-50 Characters• Attract attention: – Cryptic – Curiosity-invoking – Typos• Test different subject lines
  39. 39. Use Basic Formatting• “Outlook” formatting• 10-40% higher response rates• Include signature• Personalize beyond the “first name”
  40. 40. 7. INCREASE SALES PRODUCTIVITY
  41. 41. What Does Sales Want From Marketing?• Get Qualified Leads who want to talk to them• As much info as possible on a lead’s online behavior• Be involved in how leads are nurtured• Get help with prospecting – See which companies are visiting the website – Get pre-tested (and trackable) email templates – Use a fully automated email prospecting campaign
  42. 42. Better Lead Priorities• Make someone responsible for lead qualification (other than the sales person)• Define Ideal Customer Profile• Shortcut to Sales by mixing in sales offers, e.g. – Request personal demo – Request free consultation
  43. 43. Basics: Sales Collaboration• Train sales people to look at lead statuses in the CRM system to find the best new leads• Have sales people set Lead Status to add/remove people from the mailinglist• Put sales people on your mailinglist• Put some email templates in your CRM system
  44. 44. MA: Advanced Sales Alignment• Sync CRM and Marketing Automation• Provide a prioritized lead list based on lead score• Show email & web activity in CRM (+ alerts)• Let Sales push unqualified leads back into marketing• Provide Sales with trackable email templates
  45. 45. The 7 Steps1. Metrics-Driven Marketing2. Prevent Follow-up Failure3. Segment Your List4. Create Compelling Content5. Mine Your Existing Database6. No More Email Blasts7. Increase Sales Productivity
  46. 46. Q&A Jep Castelein jep@leadsloth.com www.leadsloth.com @jepc @leadsloth
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