The Truth About Leads

MarketingProfs
March 17, 2011
Pssst… Do you know The Truth About Leads?

Agenda
The Problem
The Cause
The Cost
What to Do
What Not to Do
“The Marketing Butterfly Effect™”
Managing Up From the Bottom
Sales Management Best Practices
Ten Questions to Ask
Ten Actions to Take
The Truth About Leads

The Problem
Best Practice Results
MQL = 4.1% of inquiries/ targeted suspects
SAL = 62% of MQL
SQL = 47.5% of SAL
Close = 22.1% of SQL
Lead Leakage
Marketing Lead Purgatory—70%
Sales Lead Purgatory—20%

The Cause
7 Reasons Why Sales and Marketing are Not Aligned
Lack of standard lead definitions
Failure by sales and marketing to accept accountability for influencing each step in the buying cycle
Focus on quantity instead of quality
Lack of integration between sales and marketing technologies
Lack of serious, formal discussion between sales and marketing
Failure to measure what matters
Silo approach—failure to pass leads back and forth
Source: The Aberdeen Group

The Cost
Quota trends
since 2006
Quota attainment
since 2006

The Solution: Turn Raw Leads Into Real Opportunities

What to Do: “BANT” vs. “AN”

What To Do: Define Market, Media, Offer

What to Do: Market
The power of relational segmentation
1,000 Companies
5%
Lead Rate
32 leads (64%)
= 40% of spend
42 leads (84%)
= 60% of spend
50 Leads

What to Do: Media
Multi-touch, multi-media, multi-cycle processes multiply results
Touch 5: Email Following Voicemail
Touch 8: Overnight Package
Touch 1: Navigation Dial
Touch 2: Voicemail
Touch 6: Voicemail
Touch 4: Voicemail
Buyer’s Journey

What to Do: Offer
How speaking to buyer’s pain points can help you leapfrog ahead
Condition of need
Fear of Loss
Perceived Risk
Opportunity to Improve

What to Do: Offer
Ultimate benefits
Save Money
Save Time
Improve product or service
Save lives

What to Do: Offer
Personal reasons

What to Do: Your Sales Force NeedsFewer Leads
Too many raw, unqualified leads can create a clogged marketing and sales process and an unhealthy funnel
More leads don’t equal more success

What to Do: Reap the Value of Long-term Leads

What Not to Do
Cut budgets/ Increase quota

What Not to Do
Blueprinting

What Not to Do
Single media approach

The “Marketing Butterfly Effect™”

Sales: Managing Up From the Bottom
Top 20%
The Middle 60%
Bottom 20%
Can improve results by pushing up from the bottom, not pulling up from the top

Sales Management Best Practices: Science
Hire
Compensate
Train
Deploy
Monitor & Manage
Coach & Counsel

Sales Management Best Practices: Art
Hire
Compensate
Train
Deploy
Monitor & Manager
Coach & Counsel

How much will it really cost?
Is the objective clear: Are we looking to gain awareness, interest or response?
What are the expected results?

On what basis are those results expected (best and worst cases)?
Would you approve the campaign if you knew in advance the results would come in worst case?
What were the results of previous, similar campaigns? If the answer is “not very good,” why is it being done again?

If a campaign has never been tried before, has it been tested? If not, why not?
How critical is it to do this campaign now?
What process is going to be used to qualify, distribute and measure follow-up on response?
When and how will you assess the results of the campaign?

Ten Actions to Take
Agree on market definition (the largest identifiable market with the tightest possible market definition).
Agree on offer (enterprise, point, both, priorities?) .
Agree on the definition of a lead (“BANT” vs. “AN”…, 10 point system).

Ten Actions to Take
Agree on expected metrics (MQL to SAL to SQL to Close).
Define required reporting and frequency of reports (recognize that what happens during the course of one-quarter is likely to happen the next quarter without driving change).

Ten Actions to Take
Give your sales force fewer leads – that is fewer, more highly qualified leads.
Effectively nurture longer-term leads. Provide the right content to the right person (from the right person) at the right time.

Ten Actions to Take
Design your touch cycle using multi-touch, multi-media, multi-cycle processes to multiply results.
Construct offers that take into account:
The three conditions of need
The ultimate benefits
The personal reasons why people buy things for companies
Set realistic actions and timeframes. You cannot solve a sales shortfall when you have a six month sales cycle and you are in Q4.

The Truth About Leads
Revealing little-known secrets that focus your lead-generation efforts, align your sales and marketing organizations and drive revenue

Contact
Dan McDade
Dan.McDade@PointClear.com
678-533-2722 office
@dandade
@pointclearpd
http://www.linkedin.com/in/danmcdadepointclearllc

The Truth About Leads

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