Build a Sales & Marketing Machine

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Describes how to build a Sales & Marketing Machine, and optimize the sales and marketing funnel.

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Build a Sales & Marketing Machine

  1. 1. OPTIMIZE YOUR SALES & MARKETING FUNNEL PR Tradeshows Brand Advertising Email Marketing Sales Social Media Events Webinars
  2. 2. PROBLEMS… HOW TO FIND SOLUTIONS … AND CREATE
  3. 3. SALES FUNNEL EVERY BUSINESS HAS A Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Customers Customers Customers
  4. 4. BUT EVEN IF YOU ARE MICROSOFT, CISCO, ORACLE, OR GOOGLE YOUR FUNNEL WILL HAVE BLOCKAGE POINTS Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects
  5. 5. WE’RE GOING TO LOOK AT HOW TO AND IN THE IN THE PROCESS, HELP GREATLY INCREASE YOUR SALES FIND AND ELIMINATE THOSE BLOCKAGE POINTS Customers Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Customers Customers Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Customers Customers Customers Customers
  6. 6. BUT FIRST LET’S LOOK AT SOME BEST PRACTICES FOR DESIGNING YOUR FUNNEL I CALL THIS “BUILDING A SALES & MARKETING MACHINE”
  7. 7. WHAT IS A “ SALES & MARKETING MACHINE” ?
  8. 8. PREDICTABLE INSTRUMENTED WITH GREAT METRICS COST OPTIMIZED SCALABLE AUTOMATED CLEARLY DEFINED LEVERS THAT YOU PULL TO MAKE IT GO FASTER SALES & MARKETING MACHINE 9
  9. 9. BUILDING ONE OF THOSE? HOW DO YOU GO ABOUT
  10. 10. STEPS 9
  11. 11. BECAUSE 1, 2 AND 3 ARE NOT OBVIOUS SO WE WILL COME BACK TO THEM AT THE END AFTER WE HAVE SEEN WHY THEY ARE SO VALUABLE WHY 4 FIRST? 4
  12. 12. ALIGN EVERY MARKETING ACTIVITY AROUND ONE GOAL… CREATING LEADS THAT HELP SALES CLOSE MORE DEALS ALIGN 4
  13. 13. Brand Advertising PR Events Sales Trade shows Webinars Email Marketing Social Media CLOSED DEAL
  14. 14. Blogging Social Media SEO SEM PR eMail Campaigns Webinars Sales CLOSED DEAL
  15. 15. If it doesn’t create a lead, or directly contribute towards closing a sale, it doesn’t belong RULE NUMBER 1
  16. 16. Brand Advertising PR Events Sales Trade shows Webinars Email Marketing Social Media CLOSED DEAL
  17. 17. If the cost per lead is too high, it doesn’t belong RULE NUMBER 2 <ul><li>Exception to this rule: If you can recover cost through: </li></ul><ul><li>higher conversion rate to closed deals </li></ul><ul><li>higher average deal size </li></ul>
  18. 18. Brand Advertising PR Events Sales Trade shows Webinars Email Marketing Social Media CLOSED DEAL
  19. 19. LINK 5
  20. 20. <ul><li>At the end of every action, there should be a clear link to the next action </li></ul><ul><li>The overall flow from start to finish should be carefully designed </li></ul><ul><li>Every action should contribute clearly to moving the lead through the closed deal </li></ul>CLEARLY LINK FLOWS FROM START TO FINISH SEO FREE TRIAL EMAIL CAMPAIGN SALES TOUCH CLOSE LANDING PAGE $
  21. 21. AN ORGANIZATIONAL STRUCTURE…
  22. 22. YOUR CUSTOMER’S PURCHASING STAGES CONSIDERATION CLOSED DEAL AWARENESS PURCHASE
  23. 23. AN ORGANIZATIONAL METAPHOR FOR THE KEY FUNNEL STAGES MIDDLE OF THE FUNNEL CLOSED DEAL TOP OF THE FUNNEL SALES
  24. 24. WHAT IS TOP OF THE FUNNEL? customer is not aware they have a problem, or that your product category exists GENERATE AWARENESS customer has a problem and is looking for a solution GET FOUND
  25. 25. WHAT IS TOP OF THE FUNNEL? GENERATE AWARENESS WEBSITE RAW LEAD
  26. 26. WHAT IS TOP OF THE FUNNEL? GENERATE AWARENESS & GET FOUND WEBSITE <ul><li>Inbound marketing </li></ul><ul><li>Blogging </li></ul><ul><li>SEO/SEM </li></ul><ul><li>Social Media </li></ul><ul><li>Influencer Campaigns </li></ul><ul><li>Blogs, Press & Articles </li></ul><ul><li>etc. </li></ul><ul><li>Outbound marketing </li></ul><ul><li>Cold Calling </li></ul><ul><li>etc. </li></ul>RAW LEAD
  27. 27. WHAT IS THE MIDDLE OF THE FUNNEL? NURTURE QUALIFY MQL (MARKETING QUALIFIED LEAD)
  28. 28. WHAT IS THE MIDDLE OF THE FUNNEL? <ul><li>Webinars </li></ul><ul><li>Free Trials </li></ul><ul><li>eMail Campaigns </li></ul><ul><li>Newsletters </li></ul><ul><li>etc. </li></ul>NURTURE QUALIFY MQL (MARKETING QUALIFIED LEAD)
  29. 29. PROBLEM: SALES SAYS MARKETING ISN’T GIVING THEM ENOUGH LEADS SALES MARKETING SAYS THAT’S RIDICULOUS, I GAVE THEM A TON OF LEADS. THEY JUST DON’T FOLLOW UP ON THEM PROPERLY. MARKETING
  30. 30. CAUSE: SALES CALLS A FEW UNQUALIFIED LEADS, AND FINDS THEY ARE WASTE OF TIME - THEY STOP CALLING THE REST OF THE LEADS SALES
  31. 31. SOLUTION: GET AGREEMENT ON THE QUALIFICATION CRITERIA NEEDED TO BE ABLE TO PASS A LEAD ACROSS TO SALES (MQL) MARKETING
  32. 32. SALES FURTHER QUALIFIES THOSE LEADS TO FIND OPPORTUNITIES SALES
  33. 33. USING BANT B UDGET A UTHORITY N EEDS T IMING
  34. 34. COMMON LEAD STATES RAW LEAD MQL (MARKETING QUALIFIED LEAD) OPPORTUNITY (SALES QUALIFIED LEAD) CLOSED DEAL
  35. 35. AUTOMATE 6
  36. 36. AUTOMATE THE KEY FUNNEL STAGES CLOSED DEAL TOP OF THE FUNNEL CREATING AWARENESS & DRIVING TRAFFIC MIDDLE OF THE FUNNEL NURTURING & QUALIFYING SALES SELLING & CLOSING
  37. 37. CLOSED DEAL TOP OF THE FUNNEL INBOUND MARKETING MIDDLE OF THE FUNNEL MARKETING AUTOMATION SALES CRM
  38. 38. MEASURE &quot;IF YOU CAN NOT MEASURE IT, YOU CAN NOT IMPROVE IT.&quot; - LORD KELVIN 7
  39. 39. THE KEY METRICS VISITORS CAMPAIGNS TO DRIVE TRAFFIC TRIALS CLOSED DEALS CONVERSION % CONVERSION % OVERALL CONVERSION % (BY LEAD SOURCE)
  40. 40. ANALYZE 8
  41. 41. IDENTIFY YOUR BLOCKAGE POINTS
  42. 42. HOW?
  43. 43. WHAT IS STOPPING ME FROM INCREASING SALES BY 5X ?
  44. 44. IMPROVE 9
  45. 45. IN DIAGNOSING MANY FUNNEL BLOCKAGE POINTS, I HAVE FOUND THAT THERE IS A CLEAR PATTERN…
  46. 46. <ul><ul><li>NOT MOTIVATED TO DO </li></ul></ul>THAT THEY ARE <ul><ul><li>CUSTOMERS WILL DO </li></ul></ul><ul><ul><li>SOMETHING </li></ul></ul><ul><ul><li>YOU ARE HOPING YOUR </li></ul></ul>
  47. 47. IN OTHER WORDS… YOU DESIGNED YOUR FUNNEL THE WAY YOU HOPED IT WOULD WORK… BUT YOU MAY NOT HAVE THOUGHT ENOUGH ABOUT THE CUSTOMER’S POINT OF VIEW
  48. 48. JBOSS EXAMPLE CUT THE DOWNLOAD RATE BY MORE THAN 10X PUT A REGISTRATION FORM ON THEIR WEB SITE BEFORE A FREE DOWNLOAD IMPACT
  49. 49. CONCERNS <ul><li>Hate being sold to </li></ul><ul><li>Find it offensive to give name and email </li></ul><ul><li>Don’t want to get spam sales emails </li></ul><ul><li>Worried that email address will be given to other marketers </li></ul>GET INSIDE YOUR CUSTOMER’S HEAD
  50. 50. UNDERSTAND WHAT MOTIVATES THEM <ul><li>Want to solve my problem </li></ul><ul><li>Recommendation from a friend </li></ul><ul><li>Education </li></ul><ul><li>Data/ information reports </li></ul><ul><li>Entertainment </li></ul><ul><li>Free stuff </li></ul><ul><li>Meeting other people like me that have insights to share </li></ul>CONCERNS MOTIVATIONS
  51. 51. CREATE A SOLUTION THAT ENTICES THEM AND ADDRESS THEIR CONCERNS <ul><li>Customer testimonials address vendor risk </li></ul><ul><li>Free trials address product viability and fit concerns </li></ul><ul><li>Lowest price guarantees </li></ul>CONCERNS ENTICE & ADDRESS CONCERNS
  52. 52. JBOSS example - FREE open source software - downloaded 5 MILLION times - selling documentation $27,000 per month
  53. 53. JBOSS example NEEDED: a carrot to incent them to provide an email address SOLUTION: give away the documentation for free RESULT: 10,000 leads per month
  54. 54. EXAMPLE: DRIVING TRAFFIC TO YOUR WEB SITE <ul><li>GETTING FOUND </li></ul><ul><li>Not going to find your site unless: </li></ul><ul><li>On top page of Google search results </li></ul><ul><li>Recommended by a trusted source </li></ul><ul><li>Referred to in social media or blogosphere </li></ul>concerns
  55. 57. LESSONS FROM WEBSITE GRADER <ul><li>Free tools drive viral spread </li></ul><ul><li>Low customer work required </li></ul><ul><li>High value delivered </li></ul><ul><li>Score leverages competitive urge </li></ul><ul><li>Builds trust through clear demonstration of expertise </li></ul>
  56. 58. GOOD LINKAGE TO NEXT STEP
  57. 59. <ul><li>using engineering for marketing </li></ul>
  58. 60. USING DATA TO DRIVE WEB TRAFFIC SYSOMOS: SOCIAL MEDIA MONITORING LEVERAGED THEIR DATABASE TO CREATE BLOG POSTS WITH DATA ON TOPICS OF CURRENT INTEREST: <ul><li>IRAN ELECTION RIOTS </li></ul><ul><li>TWITTER’S GROWTH </li></ul><ul><li>FACEBOOK USAGE </li></ul>
  59. 62. LED TO: SYSOMOS ARTICLES IN ECONOMIST, NY TIMES WEB TRAFFIC TO READ THE FULL REPORT LEADS – IMPRESSED BY THE CAPABILITIES OF THE SOFTWARE
  60. 63. GETTING CUSTOMERS TO SIGN UP FOR A TRIAL <ul><li>I don’t have the time </li></ul><ul><li>I don’t want to get spam email </li></ul><ul><li>Yet another password to remember </li></ul>concerns
  61. 64. RE-THINK THE PROCESS Source: Josh Porter – Designing for Social Traction CONVENTIONAL APPROACH SIGN UP FOR TRIAL CONVERT TO CUSTOMER WOW! FIRST, REGISTER LATER SIGN UP FOR TRIAL CONVERT TO CUSTOMER
  62. 66. 1 2 3 4
  63. 67. PROBLEM: GETTING A MEETING
  64. 68. GETTING TO EXECUTIVE DECISION MAKERS TECHCRUNCH FOR INSURANCE CLAIMS
  65. 69. <ul><li>DROPBOX: SIMPLE FILE SHARING SOFTWARE </li></ul><ul><ul><li>Get you hooked for free </li></ul></ul><ul><ul><li>Storage slowly increases to the point where you need to pay </li></ul></ul><ul><ul><li>But by then they have established trust </li></ul></ul><ul><ul><ul><ul><li>And it is hard to move your data that is shared with others </li></ul></ul></ul></ul>
  66. 70. Build Trust Sell Sell First Contact First Contact Build Relationship
  67. 71. SELLING IS 10X EASIER… ONCE YOU HAVE ESTABLISHED TRUST
  68. 72. YOUR BLOG CAN ESTABLISH TRUST… HOW?
  69. 73. EDUCATION INFORMATION ENTERTAINMENT WITH ZERO SELLING VALUABLE CONTENT
  70. 74. THE KEYS TO SUCCESS DEEP UNDERSTANDING OF YOUR CUSTOMER <ul><li>What don’t they like? </li></ul><ul><li>What do they like/need? </li></ul><ul><li>What motivates them? </li></ul><ul><li>What are their problems? </li></ul><ul><li>What does their boss expect of them? </li></ul><ul><li>etc. </li></ul>Combined with OUT-OF-THE-BOX THINKING
  71. 75. APOLOGIES MY EXAMPLES ARE ALL SOFTWARE COMPANIES THIS APPLIES EQUALLY WELL IN OTHER BUSINESSES
  72. 76. FINALLY… LET’S GO BACK TO THE BEGINNING…
  73. 77. … AND INTRODUCE THREE NEW STEPS AT THE BEGINNING OF THE FUNNEL DESIGN PROCESS…
  74. 78. IDENTIFY IDENTIFY ALL THE PEOPLE INVOLVED IN THE PURCHASE DECISION 1
  75. 79. UNDERSTAND SKETCH OUT THEIR BUYING PROCESS AND CONCERNS AT EACH STAGE 2
  76. 80. ENTICE ADD THE STEPS TO ADDRESS THEIR BUYING PROCESS AND: ADDRESS THEIR CONCERNS ENTICE THEM 3
  77. 81. SUMMARY
  78. 82. WE WENT FROM THIS: <ul><li>Align </li></ul><ul><li>Link </li></ul><ul><li>Automate </li></ul><ul><li>Measure </li></ul><ul><li>Analyze </li></ul><ul><li>Improve </li></ul>
  79. 83. TO THIS… <ul><li>IDENTIFY </li></ul><ul><li>UNDERSTAND </li></ul><ul><li>ENTICE </li></ul><ul><li>Align </li></ul><ul><li>Link </li></ul><ul><li>Automate </li></ul><ul><li>Measure </li></ul><ul><li>Analyze </li></ul><ul><li>Improve </li></ul>
  80. 84. THE NINE STEPS 1. IDENTIFY Identify people in purchase decision 2. UNDERSTAND Address their buying process and concerns 3. ENTICE Design actions to pull them through buying process & address concerns 4. ALIGN Ensure funnel actions lead directly to sales 5. LINK Link every funnel action to the next step 6. AUTOMATE Use software to automate 7. MEASURE Measure key funnel metrics 8. ANALYZE Identify blockage points 9. IMPROVE Brainstorm better enticements and ways to address concerns
  81. 85. CUSTOMER-CENTRIC FUNNEL DESIGN SALES-DRIVEN FUNNEL DESIGN TO A

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