Data is the Key to Lead Nurturing - Webinar Presentation


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Your prospects are more than a tracking number. They’re more than an account name. They’re more than a campaign. It’s time to start treating them like who they really are –individuals who can add valuable business to your company. And in order to build a healthy relationship with them, you must first engage them with meaningful dialogue and relevant content based on their unique preferences. How? With data. If marketers can capture and use data to deliver more targeted, relevant, and engaging messages, then prospects will become more engaged—resulting in increased conversion rates. And that means leads will actually have the opportunity to move through the funnel.

Join ExactTarget and Right On Interactive as we explore how Data is the Key to Lead Nurturing.

You’ll walk away with real-world examples of how marketers were able to impact their top line growth with the right lead nurturing program in place. And with the integration of ExactTarget and Right On Interactive, you can too!

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Data is the Key to Lead Nurturing - Webinar Presentation

  1. 1. How Smart Marketers are Using Data and Marketing Automation to Drive New and Repeat Sales
  2. 2. Welcome! Joel Book ExactTarget, Inc. Phone: 317.275.5444 Email: @JoelBook Troy Burk Right On Interactive Phone: 317.225.5870 Email: @TroyBurk
  3. 3.
  4. 4. Why Lifecycle Marketing is Vital for Business Growth “Selling now takes more time and resources then ever before. The average sales cycle has become 22% longer as buyers are taking longer to consider their decisions.” Source: Sirius Decisions
  5. 5. They expect information, offers and invitations that are:  Personal  Relevant  Timely Customers Expect to be Treated as Individuals
  6. 6. Why Companies Struggle 1. Have data, but it is not integrated 2. Not maximizing use of technology 3. Lack of a predictable, repeatable process for: • Moving suspects to customers • Moving customers to brand advocates 4. Don’t have the right metrics to prove they are truly impacting revenue
  7. 7.
  8. 8. Lifecycle Marketing Success Factors 1. Aggregate Customer Data 2. Align Marketing and Sales 3. Establish a Scoring Methodology 4. Develop a Lifecycle Marketing Strategy 5. Deliver Personal, Relevant, and Timely Content
  9. 9. Process. Technology. Data. Lifecycle Marketing Strategy Building Blocks
  10. 10. • Aiding the Buying Process • Use What You Have • Bring It Together • Gain Insight
  11. 11. Data Aggregation 360° View Customer Information Sales (New/Used) Warranty Data Credit Status Industry Segments eCommerce Surveys Social Media Lead Results Analytics All customer data in one central database. • Enables “one view” of the customer • Provides better segmentation with marketing programs • Allows faster response to leads • Provides better measurement of campaign ROI
  12. 12. Data You Already Have for Lifecycle Marketing Demographic Geographic Behavior Purchasing Opinion • Country • State • City • Employees • Revenue • Industry • Role • Age • Gender • Income • Email Marketing • Tradeshows • Webinars • Whitepapers • Website Visits • SEM • Sales • Social • Online Ads • Offline Ads • Recency • Frequency • Monetary • Latency • Category • SKU • Profit Margin • Preferences • Customer Satisfaction • Net Promoter Score • Product Suggestions • Ideas
  13. 13. Sample Data Captured from Solutions
  14. 14. Program: Data Hygiene and Update Campaign: “Contact Role Data Capture” – Is initiated when a customer places its first order. Tactics: • Landing Page is created to capture name, title, phone, and email address of different roles within an organization. • Email is sent to current clients that asks for updates/additional names • Seven days later another email request will be sent asking for the same information • Those that do not respond will be passed to the support team to call and obtain information. Measurement: Number of new contacts/roles added. Apply value of email address for contacts in lifecycle stage. ExactTarget Email Landing Page Incorporate Data Capture into Processes ROI
  15. 15. Score Leads Based on Ideal Customer Profile
  16. 16. Score Leads Based on Activity and Marketing Response
  17. 17. • Email • CRM • Lead Scoring • Customer Lifecycle Marketing
  18. 18. Using Technology to Automate the Process The Customer Lifecycle Website Visit Product Evaluation Product Purchase Product Usage Brand Loyalty Repurchase/ Renewal CRM Lead Scoring / Prediction Email / Text / Voice Web Analytics Websites Data Acquisition Lead Management Customer Communication Campaign Measurement Content Management Process Technology Lead Generation SEO
  19. 19. Measure What Matters! The Customer Lifecycle Website Visit Product Evaluation Product Purchase Product Usage Brand Loyalty Repurchase/ Renewal • Churn Rate • Duration Don’t Confuse Motion with Commotion! Critical Metrics You Need for Each life Cycle Stage • Churn Rate • Duration • Churn Rate • Duration • Churn Rate • Duration • Churn Rate • Duration • Churn Rate • Duration
  20. 20. Lifecycle Marketing Map
  21. 21. Basic Marketing Measurement (KPIs) Website Visitors Email Marketing Response Cost Per Lead by Source
  22. 22. Marketing Measurement w/ Lifecycle Marketing Lifecycle Stage: Website Visitors Contacts: 1,788 Churn Rate: 8% Duration: 109 Days • Know if you are acquiring the right prospects • Understand cost per “qualified lead” • See the stage duration over time (increase velocity) • Know how many individuals you are moving forward • Visualize where every prospect/customer resides in the Customer Lifecycle • Provide Sales with the ability to close business faster • Apply strategy to decrease Duration and increase Churn Rate Email Response by Stage • Know if my email efforts are impacting the right audience • Realize what content works best for each Lifecycle Stage • Provides engagement scoring for each individual who respondes
  23. 23.
  24. 24. Trade Shows Sponsored Events Print Advertising Direct Mail Social Networks Broadcast Advertising Public Relations Webinars Search Engine Marketing Word of Mouth Online Advertising Corporate Blogs Website Websites have become the “Hub” of Marketing
  25. 25. 95% of Website Visitors Do Not Convert Specific interest in Subject B 15% No interest 40% Have price or other concerns 10% Interested, but want to do more research 15% Specific interest in Subject A 15% Converters = 5% Non-converters = 95% Source: WebTrends
  26. 26. The Customer Lifecycle Website Visit Product Evaluation Product Purchase Product Usage Brand Loyalty Repurchase/ Renewal Once a person gives you permission . . . • Email aids the buying process. • Drives repeat usage. • Keeps the customer connected to your company. Business Getting Business Keeping Email: The Backbone of Customer Engagement
  27. 27. When and How to Use Email Marketing • Introduce new products relevant to needs and interests • Promote events (i.e. Trade Shows, Webcasts, Open Houses) • Drive leads Sales • Nurture leads (Deliver content that informs and educates) • Cross-sell relevant products and services • Support the selling effort of dealers / resellers Service • Deliver timely information that reinforces product value • Keep customer informed of useful events and services • Invite feedback regarding product value and benefit
  28. 28. Marketing Goal Email Objective Life Cycle Stage Attract Engage Convert Serve • Convert visitor to email subscriber • Send Welcome Email; Provide link to Preference Center • Identify product needs and interests • Provide Information to aid purchase decision • Send invitations to webinars and live events • Offer product demonstration or trial • Promote related products/services • Provide testimonials from satisfied customers • Reinforce the value they will receive from becoming a customer • Send purchase transaction confirmation • Thank customer for purchase • Invite feedback and reviews • Send product news and service updates • Send triggered alerts Reward • Invite customer to join discussion group on website • Provide links to product-related resources on website • Provide incentive to renew or repurchase • Send purchase- triggered cross- sell offer Website Visit Product Evaluation Product Purchase Product Usage Repurchase/ Renewal Brand Loyalty Renew • Ask for referral to friend or colleague • Invite customer to contribute to blog • Reward customer for loyalty. The Customer Life Cycle “Purpose-Driven” Email Strategy
  29. 29. In 2009, more than 50% of consumers made a purchase due to email. Source: ExactTarget “Email X-Factors, 2010”
  30. 30. In 2009, 82% of top marketers reported that email was their channel of choice for retention . Source: Winterberry Group
  31. 31. Real-Time Triggered Email Communications Produce 10X Greater Conversion than Blast Email Communications Real-Time TriggeredBehavior DrivenPersona DrivenProfile DrivenBlast Driven 1.1%Conversion Rate 2.8%Conversion Rate 3.9%Conversion Rate >10%Conversion Rate
  32. 32. • Aligning Marketing & Sales • Aggregating Data • Technology Integration
  33. 33. The Customer Life Cycle Website Visit Product Evaluation Product Purchase Product Usage Brand Loyalty Repurchase/ Renewal Objectives: • Attract Prospective Customers • Nurture Leads • Drives repeat usage Business Getting Business Keeping Lifecycle Marketing Process
  34. 34. Lead Management Workflow Volvo CE leads External leads Customer data Marketing data Data cleansing Dynamic eMail Auto-generated salesman reports
  35. 35. Q2 Projected Leads MQLs SQLs Closed 40% 25% 25% 600 240 60 15 MQL vs SQL – Understanding the Difference The average close rate for BtoB organizations is less than 25 percent - Predictable & Repeatable
  36. 36. Data Acquisition / Database Updating Automating Lifecycle Marketing DataCapturer/Fulfillment/LeadScoring ProgramPerformanceMeasurement Execution, Response Tracking and Reporting Product /Service Needs, Interests Campaign Response History Communication History Products Purchased GeoDemographic Characteristics Customers and Prospects Database Management Segmentation and Program Planning Prospective Customers Identify Customers with Specific Needs Offer Information Select Timing Channels Determine Offline Online Offline Email Communications Planning and Production ProgramDevelopment Customization/Personalization Segment A • Offer/ Message • Channel • Timing Segment C • Offer/ Message • Channel • Timing Segment B • Offer/ Message • Channel • Timing Customer Lifecycle Stage
  37. 37. Lifecycle Marketing Produces Results Enterprises with best-in-class closed-loop marketing achieved: • 36% average increase in year-over-year revenue • 21% average lift in year-over-year conversion rates • 26% average increase in year-over-year marketing ROI
  38. 38. 10 Tips for Effective Lifecycle Marketing
  39. 39. 1. Define the stages and gate criteria for your customer lifecycle. 2. Consolidate multiple “silos” into a professional marketing database. 3. Develop a process for marketing to systematically nurture leads and customers 4. Provide weights and values for profile and engagement scores. 5. Align marketing programs, campaigns, and tactics based on “where they are in the relationship.” 10 Tips for Effective Lifecycle Marketing
  40. 40. 6. Develop email programs that deliver information, offers and invitations that are relevant and timely. 7. Pre-Sale. Use email to provide information that aids the customer’s decision-making process. 8. Post-Sale. Use email to enhance the product usage experience. Invite customers to share their knowledge and experience (Testimonials, Video). 9. Leverage social media (YouTube, Blog, Twitter). This creates more awareness of your product and attracts website visitors. 10. Go beyond soft metrics and measure ROI, stage duration, and stage churn rate. 10 Tips for Effective Lifecycle Marketing
  41. 41. Thank You! Joel Book ExactTarget, Inc. Phone: 317.275.5444 Email: @JoelBook Troy Burk Right On Interactive Phone: 317.225.5870 Email: @TroyBurk