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THE DEATH OF COLD CALLING - A NEW PARADIGM FOR LEAD
GENERATION

           Presented by:
           Kevin Miller – EVP Marketing/Sales – SalesFUSION
           Session Audio Starts at 2PM EST
What we’ll cover today

• Cold Calling – Death versus evolution
• Lead generation in 2011 – Hijacking the digital conversation
• The statistical failure of cold calling
• Where do leads originate from in 2011 and beyond?
• Adapting sales and marketing to optimize the digital conversation
• The journey to lead to sales revenue management
• The changing view of telesales/inside sales
About SalesFUSION

• SaaS Marketing Application
• HQ – Atlanta, GA – Sales Offices in Philadelphia, PA
• Provide all b2b marketing functionality in a single app
• Focus on integrating Marketing and Sales (CRM)
• Only solution built on a CRM database
• Extensive global partner network
• 110 New clients in 2010
• Unique Client Services model
• Game-changing pricing structure
• 99% retention rate
• 90% of all new features added in 2010 – customer requests
The best film about sales leads….ever
A few assumptions
• Death versus evolution
• Telephone prospecting is still very important
• How, why and when we telephone prospect has changed
  radically




                           Telesales and Cold calling has
                           been fired and replaced by the
                           internet…..but your company
                           many not know that yet…




“It is not the strongest of the species that survives, nor the most intelligent that
survives. It is the one that is the most adaptable to change.” Charles Darwin
The “If you don’t know this you live under a rock” statistics
Retail - The Pew Internet and American Life Project has just published the
results of a study on American's e-commerce habits. Among the findings: 58%
of Americans say they perform online research on the products and services
they're considering buying. That's up from 49% who performed online research
in 2004.




B2B - 93% of business-to-business customers research companies and products
online before making a purchase, according to MarketingSherpa
Lead Generation in 2011 and beyond

Demands a new paradigm for telesales…

•   Many b2b buyers are engaged in a digital conversation with your company
•   Most companies don’t know about this conversation
•   By the time telesales speaks to a prospect, opinions about you are formed
•   Successful companies learn ways to “Hijack the Digital Conversation”
•   Do you trust the internet to sell for you?
•   Conversation channels are fluid and changing and evolving monthly
RS
      BE
      M
      U
                           N
                               E
                                   TH
Why is cold calling icky?
It fosters a culture of “taking”
 • Cold calling is a practice of starting a b2b
 relationship by Taking something from a prospect
 without asking first
 • Take their time
 • Take their information
 • Most people feel uncomfortable “taking”
 something from someone.
  Traditional lead generation/selling models foster an environment of “Taking”
  •More calls – more appointments – more sales….or your fired.
  •Leads to employee dissatisfaction, unattainable quotas, re-training costs for
  new hires to replace those who have been fired or quit out of frustration

  Consider the following sales people’s statistics:
  • 44% of sales reps quit after 1 no
  • 22% quit after 2
  • 14% quit after 3
  • 12% quit after 4 (total is 92%)
    60% of customers say no at least 4 times
    Share | Learn | Save
RS
     BE
     M
     U
                          N
                              E
                                  TH
Sales is a numbers game….right?


                                              B2B Sales Rep = COGS

           Calls                  100 Calls   •   $50,000 base salary
                                              •   + Benefits
                                              •   Salary plus benefits = $65,000
                                              •   100 Calls per day
                                                    • 5 Days per week
       Appointments 2-3 Appointments                • Avg. 42 Full weeks per year
                          .025 connect rate         • 210 calling days
                                                    • 21000 calls
                                                    • 525 Connects
                                                    • 105 Sales
             Sales .5 Sales
                     .005 close rate




   Share | Learn | Save
RS
     BE
     M
     U
                          N
                              E
                                  TH
Sales is a numbers game….right?


                                              B2B Sales Rep = COGS
                                              • 21000 calls = $3.10 per call
           Calls                  100 Calls   • 525 Connects = $123 per connect
                                              • 105 Sales = $619 per sale

                                              Assumptions
                                              • Consistent 100 calls per day to new
       Appointments 2-3 Appointments             leads
                          .025 connect rate   • Connect = telephone-based
                                                 meeting
                                              • Sale = closed revenue
                                              • Time to work deals?
             Sales .5 Sales                   • Time for administrative work?
                     .005 close rate          • Time in meetings?
                                              • Are these numbers even realistic
                                                 for internal personnel?


   Share | Learn | Save
RS
     BE
     M
     U
                          N
                              E
                                  TH
More sobering statistics


                                       • It takes 8.4 dials to reach a person, and
                                         2% of all calls results in a meeting.
           Calls                       • If 30% of these first meetings convert
                                         into opportunities and a sales person
                                         closes 25% of these opportunities,
                                         they will have to make 1,000 calls to
                                         get 1 sale.
       Appointments                    • If they are pounding the phones
                                         making 50 cold calls per day, they can
                                         get 1 winnable sale every 20 days.
                                       • At this rate they can acquire 12.5 new
                                         customers per year.
             Sales




   Share | Learn | Save
Where do leads originate from in B2B - 2010




                           Base: 249 B2B marketers at companies with 50 or more
                           employees
                           (multiple responses accepted, does not include “other”)
More from Forrester – what are company’s top marketing/sales
challenges in 2010?
How are leading b2b sales/marketing teams
adapting?
                                             Marketing’s Role
                                             • Identify leads
                                             • Generate leads
                                             • Execute campaigns
                                             • Pre-qualify leads
                                             • Nurture leads
                                             • Re-Market stale sales leads


                                              Sales’ Role
                                              • Complete lead qualification
                                              • Present and propose solutions
                                              • Propose pricing
                                              • Execute contracts
                                              • Close business
                                              • Cross-sell


  •   Changing traditional roles
  •   Inside sales is no longer a sales function
  •   Skill-sets for inside sales are changing
  •   Marketing – ½ Focus on brand & ½ Focus on Upper Funnel Development
                                                                     14
Beginning the journey to lead to sales revenue
management…
                          • Marketing – focus on upper-funnel
                            development using all available
                            channels, techniques and
                            communication mediums
                          • Telesales – triage, manage, respond
                            and advance inbound leads
                          • Sales – focus on closing business




                                                  15
Change the way you view telesales/inside sales
They are not phone jockeys anymore


Think air-traffic controller
• Monitor and direct lead traffic
• Exchange meaningful information
  with the leads
• Direct leads to the right resources
• Educate leads about value
  proposition and competitive
  position
                                        •   Empowered with technology
                                        •   Higher job satisfaction
                                        •   Better growth potential
                                        •   They become a marketing and field
                                            sales “Farm Team”
ESS
   OC
   PR
                       LES
                               SA
                                       TO
                                                AD
                                                      LE
                                                      11
                                                      20
What should an inside sales model look like?


Inbound Leads Process for
Inside Sales                                                                               Telesales Duties
                                         Telesales – Web visitor
                                         monitoring                                        CRM
                                          Daily Monitor                                    Log calls
                                          Respond – 2-4 hours to                           Append data
                                            known visitors                                  Create Opportunities
Lead Capture            Home                                                Activity Log    Pre-qualify
                                          Enroll known visitors into 3-
Page                    Page                step drip
                                                                            CRM             Identify other contacts
                                          Accounts – research using                        Send task to sales
                                            LinkedIn and Jigsaw– add 2
                                            marketing contacts to Fusion
                                            – enroll in 3-step drip




                                                                           Simple process maps will help
                                                                           focus the marketing and sales
                                                   Opportunity
       Field Sales Duties                                                  teams on execution of the plan
       Sign Up for Demo or self qualify
       1. Email Alert to reps based on Geo
       2. Rep – verifies company HQ location
       3. Rep – updates CRM – creates oppt
       4. Ensure contacts/account are linked
           and de-duped
       5. Append address, phone, vertical and
      Share |source | Save
           lead Learn
4 technologies inside sales needs to thrive

Website monitoring station
• View, identify, receive alerts of leads on the website
• Integrate with data services to research and append contacts
• View page-level activity from high-score leads

Email Marketing
• 1-touch enrollment in multi-step campaigns
• Follow up emails using trackable html email
• Bulk email capabilities to call lists

Data appending and social tools
• Research and import contacts from identified companies on the site
• 1-touch enroll net new contacts into first-touch campaigns

Campaign activity reports
• Access to daily/weekly/monthly campaign reports
• 1-click access to marketing history for leads
Website monitoring station
What is it?

Web visitor tracking is a newer type of web analytics that captures, alerts and routes
website leads based on rules.
Access to enroll leads in campaigns




           Alerts                          Auto-enroll


 Email alert – Based on Rules         Automated Routing to
 Alert telesales to view/open         drip/trigger based nurture
 in CRM                               marketing campaigns
Day in the life with Marketing Automation
                                   Website monitoring
                                  Research anonymous
                                  visitors – append with
                                    contacts – enroll in
                                        campaigns




                 Pop email alert when
               high-value activity occurs
                  – assign task for call




                 If no phone contact
                made – enroll in trigger
                       campaign



                Receive on-going alerts
                 when lead returns to
                    site/responds
Access to critical information
• Give telesales the tools to access info and take action
• This view allows for telesales to view activity and enroll leads in campaigns




    Share | Learn | Save
The importance of marketing automation tools

 • Provides a mechanism for real-time lead monitoring
 • Reduces lead response time
 • Allows for enrollment in pre-defined trigger campaigns
 • Increases touches in first 30-days following initial inquiry
 • Allows for research and appending of data through sources such as
   Jigsaw
 • Alerting via email ensures leads are touched quickly




     Share | Learn | Save
Create a lead-centric culture

Establish a dialog between marketing/sales
•Regular meetings – rotate between pipeline-centric meetings to lead/demand
generation-centric meetings
•Understand sales-team issues with leads – volume, where they come from
•Brainstorm sessions about lead profiles, verticals, targets, messaging and hot
buttons
•Sales is the best source for “Why a lead buys” information

Create simple process maps
•Define on paper who does what, when and why
•Assign people by name to stages in a process map

Considerations
•Sales may be resistant to change or dis-interested in leads
•Old-School sales cultures must be changed
•CRM system tuning will be required
•Marketing technology MUST integrate seamlessly to CRM
•Reporting must be in place to track the process and hold constituents
accountable
How marketing automation supports this model
 •   Lead Scoring/Routing enables automated nurturing of leads
 •   Trigger-based email campaigns – prebuilt and tied to scores
 •   Lead scoring must be tuned, tested and agreed upon with sales
 •   Objective is to treat every suspect the same initially
 •   Eliminate lead leakage
 •   Target content based on behavior and demographics




     Share | Learn | Save
How important is this to your upper funnel success?
According to Aberdeen, who tracks the performance of “Best Practice” organizations
utilizing marketing automation tied to telesales….

•   Inside sales achieves quote 11% more when marketing automation is deployed
•   Lead conversions (to opportunities) increased by 7%
•   Inside sales make an additional 7-9 connects per day
•   Overall sales team quota achievement is higher by nearly 3%
•   Company revenue is higher by over 3%

Why?
•   For the same Reason Henry Ford was able to produce more cars for less
•   Efficiency gains through automation
•   Connects are more meaningful when data is made easily accessible
•   Fewer (if any) leads fall through the cracks




    Share | Learn | Save
Questions?


• Participate in our DOCC Nurture Campaign
• Schedule a demonstration of SalesFUSION
• Learn more www.salesfusion.com



Core Features
•   Enterprise b2b marketing
•   Advanced email marketing
•   Lead scoring
•   CRM integration – Salesforce, Dynamics, Sugar, Saleslogix…
•   Web visitor tracking
•   Dialogs, forms, landing pages
•   Social media marketing
•   Event management
    Share | Learn | Save

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The Death of Cold Calling - A New Paradigm for Lead Generation

  • 1. THE DEATH OF COLD CALLING - A NEW PARADIGM FOR LEAD GENERATION Presented by: Kevin Miller – EVP Marketing/Sales – SalesFUSION Session Audio Starts at 2PM EST
  • 2. What we’ll cover today • Cold Calling – Death versus evolution • Lead generation in 2011 – Hijacking the digital conversation • The statistical failure of cold calling • Where do leads originate from in 2011 and beyond? • Adapting sales and marketing to optimize the digital conversation • The journey to lead to sales revenue management • The changing view of telesales/inside sales
  • 3. About SalesFUSION • SaaS Marketing Application • HQ – Atlanta, GA – Sales Offices in Philadelphia, PA • Provide all b2b marketing functionality in a single app • Focus on integrating Marketing and Sales (CRM) • Only solution built on a CRM database • Extensive global partner network • 110 New clients in 2010 • Unique Client Services model • Game-changing pricing structure • 99% retention rate • 90% of all new features added in 2010 – customer requests
  • 4. The best film about sales leads….ever
  • 5. A few assumptions • Death versus evolution • Telephone prospecting is still very important • How, why and when we telephone prospect has changed radically Telesales and Cold calling has been fired and replaced by the internet…..but your company many not know that yet… “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” Charles Darwin
  • 6. The “If you don’t know this you live under a rock” statistics Retail - The Pew Internet and American Life Project has just published the results of a study on American's e-commerce habits. Among the findings: 58% of Americans say they perform online research on the products and services they're considering buying. That's up from 49% who performed online research in 2004. B2B - 93% of business-to-business customers research companies and products online before making a purchase, according to MarketingSherpa
  • 7. Lead Generation in 2011 and beyond Demands a new paradigm for telesales… • Many b2b buyers are engaged in a digital conversation with your company • Most companies don’t know about this conversation • By the time telesales speaks to a prospect, opinions about you are formed • Successful companies learn ways to “Hijack the Digital Conversation” • Do you trust the internet to sell for you? • Conversation channels are fluid and changing and evolving monthly
  • 8. RS BE M U N E TH Why is cold calling icky? It fosters a culture of “taking” • Cold calling is a practice of starting a b2b relationship by Taking something from a prospect without asking first • Take their time • Take their information • Most people feel uncomfortable “taking” something from someone. Traditional lead generation/selling models foster an environment of “Taking” •More calls – more appointments – more sales….or your fired. •Leads to employee dissatisfaction, unattainable quotas, re-training costs for new hires to replace those who have been fired or quit out of frustration Consider the following sales people’s statistics: • 44% of sales reps quit after 1 no • 22% quit after 2 • 14% quit after 3 • 12% quit after 4 (total is 92%) 60% of customers say no at least 4 times Share | Learn | Save
  • 9. RS BE M U N E TH Sales is a numbers game….right? B2B Sales Rep = COGS Calls 100 Calls • $50,000 base salary • + Benefits • Salary plus benefits = $65,000 • 100 Calls per day • 5 Days per week Appointments 2-3 Appointments • Avg. 42 Full weeks per year .025 connect rate • 210 calling days • 21000 calls • 525 Connects • 105 Sales Sales .5 Sales .005 close rate Share | Learn | Save
  • 10. RS BE M U N E TH Sales is a numbers game….right? B2B Sales Rep = COGS • 21000 calls = $3.10 per call Calls 100 Calls • 525 Connects = $123 per connect • 105 Sales = $619 per sale Assumptions • Consistent 100 calls per day to new Appointments 2-3 Appointments leads .025 connect rate • Connect = telephone-based meeting • Sale = closed revenue • Time to work deals? Sales .5 Sales • Time for administrative work? .005 close rate • Time in meetings? • Are these numbers even realistic for internal personnel? Share | Learn | Save
  • 11. RS BE M U N E TH More sobering statistics • It takes 8.4 dials to reach a person, and 2% of all calls results in a meeting. Calls • If 30% of these first meetings convert into opportunities and a sales person closes 25% of these opportunities, they will have to make 1,000 calls to get 1 sale. Appointments • If they are pounding the phones making 50 cold calls per day, they can get 1 winnable sale every 20 days. • At this rate they can acquire 12.5 new customers per year. Sales Share | Learn | Save
  • 12. Where do leads originate from in B2B - 2010 Base: 249 B2B marketers at companies with 50 or more employees (multiple responses accepted, does not include “other”)
  • 13. More from Forrester – what are company’s top marketing/sales challenges in 2010?
  • 14. How are leading b2b sales/marketing teams adapting? Marketing’s Role • Identify leads • Generate leads • Execute campaigns • Pre-qualify leads • Nurture leads • Re-Market stale sales leads Sales’ Role • Complete lead qualification • Present and propose solutions • Propose pricing • Execute contracts • Close business • Cross-sell • Changing traditional roles • Inside sales is no longer a sales function • Skill-sets for inside sales are changing • Marketing – ½ Focus on brand & ½ Focus on Upper Funnel Development 14
  • 15. Beginning the journey to lead to sales revenue management… • Marketing – focus on upper-funnel development using all available channels, techniques and communication mediums • Telesales – triage, manage, respond and advance inbound leads • Sales – focus on closing business 15
  • 16. Change the way you view telesales/inside sales They are not phone jockeys anymore Think air-traffic controller • Monitor and direct lead traffic • Exchange meaningful information with the leads • Direct leads to the right resources • Educate leads about value proposition and competitive position • Empowered with technology • Higher job satisfaction • Better growth potential • They become a marketing and field sales “Farm Team”
  • 17. ESS OC PR LES SA TO AD LE 11 20 What should an inside sales model look like? Inbound Leads Process for Inside Sales Telesales Duties Telesales – Web visitor monitoring CRM  Daily Monitor  Log calls  Respond – 2-4 hours to  Append data known visitors  Create Opportunities Lead Capture Home Activity Log  Pre-qualify  Enroll known visitors into 3- Page Page step drip CRM  Identify other contacts  Accounts – research using  Send task to sales LinkedIn and Jigsaw– add 2 marketing contacts to Fusion – enroll in 3-step drip Simple process maps will help focus the marketing and sales Opportunity Field Sales Duties teams on execution of the plan Sign Up for Demo or self qualify 1. Email Alert to reps based on Geo 2. Rep – verifies company HQ location 3. Rep – updates CRM – creates oppt 4. Ensure contacts/account are linked and de-duped 5. Append address, phone, vertical and Share |source | Save lead Learn
  • 18. 4 technologies inside sales needs to thrive Website monitoring station • View, identify, receive alerts of leads on the website • Integrate with data services to research and append contacts • View page-level activity from high-score leads Email Marketing • 1-touch enrollment in multi-step campaigns • Follow up emails using trackable html email • Bulk email capabilities to call lists Data appending and social tools • Research and import contacts from identified companies on the site • 1-touch enroll net new contacts into first-touch campaigns Campaign activity reports • Access to daily/weekly/monthly campaign reports • 1-click access to marketing history for leads
  • 19. Website monitoring station What is it? Web visitor tracking is a newer type of web analytics that captures, alerts and routes website leads based on rules.
  • 20. Access to enroll leads in campaigns Alerts Auto-enroll Email alert – Based on Rules Automated Routing to Alert telesales to view/open drip/trigger based nurture in CRM marketing campaigns
  • 21. Day in the life with Marketing Automation Website monitoring Research anonymous visitors – append with contacts – enroll in campaigns Pop email alert when high-value activity occurs – assign task for call If no phone contact made – enroll in trigger campaign Receive on-going alerts when lead returns to site/responds
  • 22. Access to critical information • Give telesales the tools to access info and take action • This view allows for telesales to view activity and enroll leads in campaigns Share | Learn | Save
  • 23. The importance of marketing automation tools • Provides a mechanism for real-time lead monitoring • Reduces lead response time • Allows for enrollment in pre-defined trigger campaigns • Increases touches in first 30-days following initial inquiry • Allows for research and appending of data through sources such as Jigsaw • Alerting via email ensures leads are touched quickly Share | Learn | Save
  • 24. Create a lead-centric culture Establish a dialog between marketing/sales •Regular meetings – rotate between pipeline-centric meetings to lead/demand generation-centric meetings •Understand sales-team issues with leads – volume, where they come from •Brainstorm sessions about lead profiles, verticals, targets, messaging and hot buttons •Sales is the best source for “Why a lead buys” information Create simple process maps •Define on paper who does what, when and why •Assign people by name to stages in a process map Considerations •Sales may be resistant to change or dis-interested in leads •Old-School sales cultures must be changed •CRM system tuning will be required •Marketing technology MUST integrate seamlessly to CRM •Reporting must be in place to track the process and hold constituents accountable
  • 25. How marketing automation supports this model • Lead Scoring/Routing enables automated nurturing of leads • Trigger-based email campaigns – prebuilt and tied to scores • Lead scoring must be tuned, tested and agreed upon with sales • Objective is to treat every suspect the same initially • Eliminate lead leakage • Target content based on behavior and demographics Share | Learn | Save
  • 26. How important is this to your upper funnel success? According to Aberdeen, who tracks the performance of “Best Practice” organizations utilizing marketing automation tied to telesales…. • Inside sales achieves quote 11% more when marketing automation is deployed • Lead conversions (to opportunities) increased by 7% • Inside sales make an additional 7-9 connects per day • Overall sales team quota achievement is higher by nearly 3% • Company revenue is higher by over 3% Why? • For the same Reason Henry Ford was able to produce more cars for less • Efficiency gains through automation • Connects are more meaningful when data is made easily accessible • Fewer (if any) leads fall through the cracks Share | Learn | Save
  • 27. Questions? • Participate in our DOCC Nurture Campaign • Schedule a demonstration of SalesFUSION • Learn more www.salesfusion.com Core Features • Enterprise b2b marketing • Advanced email marketing • Lead scoring • CRM integration – Salesforce, Dynamics, Sugar, Saleslogix… • Web visitor tracking • Dialogs, forms, landing pages • Social media marketing • Event management Share | Learn | Save