The Hidden Sales Cycle: the new role of marketing

644 views
525 views

Published on

Marketers know their role has changed dramatically in the last few years – once upon a time the sales person controlled the sales cycle. Today, because of online research, buyers are much more informed about what they want to buy before that first sales contact. Marketing now educates the buyers in the early sales cycle. Ensure your sales people don’t miss the ‘hidden sales cycle’.

This discussion will help you understand:

- How to get sales and marketing to jointly identify those they’re targeting
- How to develop content that’s compelling to potential customers
- How you track and monitor the content your prospect engage with

Published in: Business, Technology
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
644
On SlideShare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
16
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

The Hidden Sales Cycle: the new role of marketing

  1. 1. Taking Advantage of the Hidden Sales Cycle:- The New Role of Marketing Guest Speaker: Mark Emmett Global Director of Marketing Operations TrustPilot @markemmett761 Host: Shimon Ben Ayoun Managing Partner spotONvision @shimonbenayoun
  2. 2. Questions? GoToWebinar: “Chat” of “Ask a question” Or Twitter - #b2bnl @b2bmarketingforum
  3. 3. Voor in je agenda: Masterclass Starten met Marketing Automation Leer meer over Marketing Automation, krijg praktische tips & trucs en luister naar succesverhalen Woensdag 25 juni 2014 Tijd: 10:00 – 15:00 Sprekers: Shimon Ben Ayoun, Charles van der Wal, Bram van de Waal Kosten: 395,- p.p.
  4. 4. business.trustpilot.com Taking Advantage of the Hidden Sales Cycle:- The New Role of Marketing
  5. 5. Introduction business.trustpilot.com • Mark Emmett • Global Director of Marketing Operations & Insights - Trustpilot • Previously 10 years at Sony Professional, 5yrs at B&Q (Kingfisher) • Eloqua customer for 5 years • SFDC customer for 7 years mem@trustpilot.com @markemmett761
  6. 6. Who is business.trustpilot.com
  7. 7. business.trustpilot.com Reviews and recommendations dominate consumer choice To what extent do you trust the following forms of advertising? 40% 40% 41% 42% 46% 47% 47% 47% 47% 50% 58% 58% 70% 92% Ads served in search engine results TV program product placement Ads before movies Ads on radio Ads in newspapers Ads in magazines, Brand sponsorships Emails I signed up for Consumer opinions posted online Recommenda tions from people I know Editorial content such as newspaper articles Nielsen’s Global trust in advertising and brand messages (Apr 2012) Survey of more than 28,000 Internet respondents in 56 countries Ads before movies Billboards and other outdoor advertising Ads on TV Branded websites
  8. 8. business.trustpilot.com • 210 employees covering over 24 countries • Trustpilot provides over 70,000 ecommerce businesses with TrustScores based on more than six million reviews • We are adding 2,000 new merchants and over 300,000 new consumers to the Trustpilot community every month • Offices in Copenhagen, London & New York
  9. 9. We have more choice, and more technology - but Word of Mouth remains the best marketing money can’t buy business.trustpilot.com
  10. 10. business.trustpilot.com Collect reviews effortlessly for continuous feedback Share your credibility Engage with your customers Build Trust Discovery Acquisition Retention Customer Advocacy • Kick start Credits • Unique Links • Automatic Feedback Service • Facebook Integration • Custom Trustpilot Pages • Google Rich Snippets • Real-time Notifications • Online Moderation Tools • Advanced Fraud Detection • Website Widgets • Analytic Tools Integrating the customers' voice into your strategy
  11. 11. business.trustpilot.com
  12. 12. business.trustpilot.com What is the hidden sales cycle??
  13. 13. business.trustpilot.com Customers are much better informed than they used to be By 2020, Gartner predicts data volumes will grow to 20 X what they are today 75% of digital information is generated by individuals On average, B2B buyers are 57% through the purchase decision before engaging a supplier sales rep. 20x Joint Google and CEB research project, 2011 Sources: http://panelpicker.sxsw.com/vote/20006 http://uk.emc.com/about/news/press/2011/20110628-01.htm http://www.executiveboard.com/exbd-resources/content/digital-evolution/index.html
  14. 14. COMPANY CONFIDENTIAL business.trustpilot.com Buying process increasingly marketing-driven
  15. 15. business.trustpilot.com Poll Question ? 1. We track most popular website pages 3. We did a little research 4. We did significant research on Personas, triggers, needs & watering holes 2. We analysed the profile of our customers How much do you know about your prospects?
  16. 16. business.trustpilot.com What was the situation before?
  17. 17. business.trustpilot.com Nobody knew who was coming to the website or what they were looking at What was the problem (i) But there were more than 40.000 open leads owned by 60 reps 66% 66% of leads had not been modified past 3 months Sales would demand more leads every week
  18. 18. business.trustpilot.com What was the problem (ii) Every sales rep in every team worked differently - no consistent process Reps were writing emails and sending them using Outlook There was no visibility of what was going on with each lead Opportunities were normally created when the contract was about to be signed Every rep used a spreadsheet to track their deals and provide a forecast Forecast accuracy was low Marketing had no idea what lead sources were working
  19. 19. business.trustpilot.com What did we do? ?
  20. 20. business.trustpilot.com Implemented Eloqua
  21. 21. business.trustpilot.com Building the Content Machine High-level description Key Deliverables Key activities • Preparation and planning • Workshops, meetings and research • Strong Persona Profiling • Competitive Review • Employee On Boarding • Creation of the digital / content assets • Leads coming in • Content planning • Social Media Profile Development • Lead scoring / refining • Content Plan Created • Key Workshops Delivered • Assets Created • Leads beginning to be generated • Content engagement • Leads being scored and nurtured into sales • Content pushed out through key channels • Lead Scoring and Workflows created • Content Plan Created • Content published regularly • Engagement Strategy Implemented • Lead Nurturing Workflow Review • Conversion and Pipeline Optimisation • Lead Evaluation • Workflow development and optimisation • Internal Team Fully Skilled • Compelling Though Leadership Achieved • Positive ROI achieved • Lead Scoring Review • Persona Profiling Month 1 Month 2-3 Month 3-6 Month 6-12
  22. 22. business.trustpilot.com Sales & Marketing Alignment (i) We met with Sales to analyse what they were already doing: • Who do they want to target - what industries, what profiles? Identify key Personas • How do sales handle enquiries and how can we track their progress through to sale? • Agree a common language - What is a lead, what is an Opportunity? • What emails do they send to support those conversations? • What other support would they like? • Where are they getting the most success?
  23. 23. business.trustpilot.com Sales & Marketing Alignment (ii) We designed a standardised sales process together & added sales tools: • New lead sources • New lead stages • New Opportunity stages • New SFDC page layouts • New real time view of Digital Body Language - Eloqua Profiler • New trackable, editable, Eloqua e-mail templates - Eloqua Engage • Reports & dashboards to help you and your managers keep track of things
  24. 24. business.trustpilot.com Stage 2 Stage 3 Stage 4 Stage 5 Stage: Closed Won Convert to opportunity Stage 1 Change Stage: Nurture Sales opportunity exists Change Stage: Cancelled Timewaster Change Stage: Pending Call1 Spoken to Prospect? Set task to call prospect up to x times + email Default Lead source: Marketing Stage - New Default Lead source: Prospecting Stage - New Default Lead source: Domain Stage - New All Eloqua Leads Prospecting Leads Domains Change Stage: Closed Lost Contract Renewals Change Stage: Cancelled Unreachable Not ever Not now Yes YesNo Give up Sales & Marketing Alignment • N • N • N • N • N New lead sources New lead stages New Opportunity stages New reports & dashboards New SFDC page layouts Retry
  25. 25. business.trustpilot.com True Marketing & Sales Integration
  26. 26. business.trustpilot.com Stage 2 Stage 3 Stage 4 Stage 5 Stage: Closed Won Convert to opportunity Stage 1 Change Stage: Nurture Sales opportunity exists Change Stage: Cancelled Timewaster Change Stage: Pending Call1 Spoken to Prospect? Set task to call prospect up to x times + email Default Lead source: Marketing Stage - New Default Lead source: Prospecting Stage - New Default Lead source: Domain Stage - New All Eloqua Leads Prospecting Leads Domains Change Stage: Closed Lost Contract Renewals Change Stage: Cancelled Unreachable Not ever Not now Yes YesNo Give up Sales & Marketing Emails Retry
  27. 27. business.trustpilot.com One View of the Truth • We designed a suite of dashboards to enable one shared view of the business, but filtered to the needs of each role. Master Management Regional dashboards Team dashboard Sales rep dashboard • Weekly Website visitor reports • Weekly Sales enablement email reports • Weekly Marketing and Sales Operations review to identify actions needed and focus areas for that week • Monthly Content review and planning together
  28. 28. business.trustpilot.com Poll Question ? 1. We know where they sit 3. We give them tools & valuable content 4. We are like Jedi masters – we can read each other’s minds, no need to speak! 2. We give them information which should help How close are your Sales and Marketing teams?
  29. 29. business.trustpilot.com What happened? ?
  30. 30. business.trustpilot.com Sales Team Feedback The first thing I do every morning is check my reports. I find that this is a great way to detect prospects who have gone cold. For example: I just checked my Advanced Reports this morning and a hot prospect gone cold opened an email last night that I had sent on 1/28 After the first call, I set the alerts to notify me when anyone from the company goes to the site. This is crucial when following up on a meeting, pricing or a proposal. For example: In December, I sent someone an email with the differences between us and our competition, mid- January I received a notification they visited the pricing page a couple days later. I immediately called them and scheduled a meeting. “It’s brilliant and going to save me a lot of time”
  31. 31. business.trustpilot.com What did we do - Summary 2 1 3 45 6 7 8 Continuous refinement: it’s a journey One View of the truth: shared reports highlight progress at each stage in the funnel Provide sales with tools to monitor the engagement of their prospects Provide sales with tools to drive engagement with prospects Create a standardised process to track progress through the funnel Identify your target audience Develop a deep understanding of their needs Build relevant content to help them with the buying process Agree a common language between Sales and Marketing
  32. 32. business.trustpilot.com Thank You More Info: www.b2bmarketingforum.nl

×