Marketing Automation: Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue


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Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue
Improved lead management will create more demand for our products:
Leads get better follow-up through automated lead nurturing
Leads will better understand the benefits of our products
Our sales team can focus on selling to the highest quality leads

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Marketing Automation: Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue

  1. 1. Lead Management and Marketing Automation<br />Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue <br />
  2. 2. Why Lead Management? <br />The B2B Buyer has changed: need to pro-actively engage around educational topics<br />Leads need to be nurtured until they are sales-ready<br />Sales & Marketing need to be aligned more closely, creating a seamless buying process<br />There is an opportunity to turn marketing into a revenue driver rather than a cost center<br />Lead management provides a dramatic ROI: many benefits, low risk, modest investment<br />“Nurtured leads produce, on average, a 20 percent increase in sales opportunities versus leads that are not nurtured.”<br />
  3. 3. The Changing B2B Buyer<br />Highlights from Enquiro’sBuyerSphere Project:<br />Almost 50% of B2B buyers starts their buying process with online research<br />Talking to vendors of often only the 4th step<br />Order of Things – High Consideration<br />50%<br />37.5%<br />25%<br />12.5%<br />0%<br />1st<br />2nd<br />3rd<br />4th<br />5th<br />Online Research Talk to Users Talk to Vendors<br />
  4. 4. The Changing B2B Buyer<br />Buyers are seeking and finding more information on their own—they’re in control <br />Search engines and vendor Web sites are top information sources in the buying process<br />To drive revenue, marketers must become more adept at identifying sales-ready leads and nurturing the remainder<br />Vendors need to interact with prospects before the sales conversation, by providing relevant information that is relevant in the earlier stages of the buying process<br />
  5. 5. Convert More Leads Into Customers<br />Lead Nurturing, Lead Scoring, Lead Routing and Lead Monitoring close the gap in the middle of the funnel<br />Improve the dynamics of your revenue cycle to convert more potential customers into customers<br />Current marketing focus<br />Current sales focus<br />The B2B lead<br />Development gap<br />Reach<br />Interest<br />Desire<br />Convert<br />Enrich<br />Retain<br />Lead Management Closes the Gap <br />in The Middle of the Funnel<br />Warm leads leak out<br />Issue 1: Marketing hands off<br />Leads too early. Unqualified<br />Leads waste sales’ time.<br />Issue 2: Sales cherry picks leads, letting<br />longer-time-frame leads leak out.<br />Issue 3: Marketing spends<br />More to recapture lost leads.<br />Source: October 2006, Best Practices “Improving B2B Lead Management” <br />
  6. 6. Increase Productivity With Automation<br />Run more campaigns without expanding the marketing team<br />Create more consistent email follow-up<br />Example: automate Webinar campaigns, including invitations, reminders, follow-up and reporting<br />
  7. 7. More Qualified Leads with Lead Nurturing<br />Companies are able to use existing staff for nurturing campaigns, increasing the number of sales-ready leads by 50% with little to no incremental investment ¹<br />Nurtured leads delivered 47% higher average order values than non-nurtured leads²<br />Goal: Increase the number of sales opportunities & deal size and reduce cost per qualified lead<br />“Companies that excel at lead nurturing are able to generate 50% more sales-ready leads at 33% lower cost per lead.”<br />
  8. 8. Increase Sales Effectiveness<br />Improved Lead Quality = Increased Sales Productivity<br />Priority #2:<br />Prioritize leads based on quality and urgency<br />Let sales send leads back to marketing for further nurturing, preventing leads that just "sit" somewhere<br />Provide comprehensive lead activity history for sales<br />Increase Sales Effectiveness<br />
  9. 9. Turn Marketing Into a Revenue Driver<br />Show that marketing is a revenue driver, not a cost center.<br />“Only 20% of companies believe they excel at measuring the performance of marketing initiatives.”<br />Optimize ROI<br />Improve marketing's accountability by proving marketing’s impact on revenue<br />Improve Revenue Performance: <br />Conversion rates <br />Time in a particular stage (velocity)<br />
  10. 10. Marketing Automation + Lead Management<br />Realize the benefits of lead management with new technology and improved processes<br />Marketing Automation technology combined with Lead management processes provide the framework to: <br /><ul><li>Convert more leads into revenue
  11. 11. Run more campaigns
  12. 12. Nurture leads automatically
  13. 13. Make sales more productive
  14. 14. Measure progress and results</li></li></ul><li>The Value of Lead Nurturing<br />Lead Nurturing helps turn more inquiries into qualified leads and decreases cost per qualified lead<br />Source: actual data from software vendor<br />50% increase<br />
  15. 15. The Value of Lead Scoring<br />With good info on lead prioritization, more reps meet quota and revenue goals are more likely to be achieved <br />How Easy Is it To Get Access to Information About Prioritizing Sales Efforts?<br />
  16. 16. The Value of Lead Management<br />SiriusDecision' Waterfall Model gives benchmark numbers for conversion rates between the different stages in the funnel. With improved lead management, conversion rates will be higher. <br />Example: Moving from Benchmark to Best Practice<br /><ul><li>For each 1,000 leads, best-in-class companies create 46 more MQLs than benchmark companies (97 instead of 51). They create almost 10 additional deals (14.3 instead of 4.6 deals, a 300% increase). </li></ul>MQL = Marketing Qualified Lead SAL = Sales Accepted LeadSQL = Sales Qualified Lead (i.e. sales opportunity identified)<br />
  17. 17. Improving Lead Nurturing<br />In Place: <br /><ul><li>Monthly Email Newsletter
  18. 18. Generic content (whitepapers, webinars, blog posts)</li></ul>To Implement:<br /><ul><li>Drip email campaigns
  19. 19. Content based on buyer profile and buying stage
  20. 20. Automation of marketing campaigns (including Trigger-based nurturing)
  21. 21. Integration of lead nurturing with CRM data and CRM activity
  22. 22. A/B Testing</li></ul>Steps to Take to Improve Lead Nurturing<br />
  23. 23. Improving Sales Productivity<br />In Place: <br /><ul><li>Automatically assign new leads to sales people</li></ul>To Implement:<br /><ul><li>Lead Scoring based on profile and activity
  24. 24. Prioritized lead list for sales
  25. 25. Lead Activity Monitoring with real-time alerts
  26. 26. Lead activity history in CRM system (email clicks, web visits, registrations)</li></ul>Steps to Take to Improve Sales Productivity<br />
  27. 27. Improving Sales & Marketing Analytics<br />In Place: <br /><ul><li>Reporting on lead volume</li></ul>To Implement:<br /><ul><li>Lead conversion rates
  28. 28. Pipeline velocity (how fast leads flow through the funnel)
  29. 29. Percentage of the pipeline that is Marketing-sourced
  30. 30. Percentage of the pipeline that is Marketing-influenced</li></ul>Steps to Take to Improve Insight into Sales and Marketing Effectiveness<br />
  31. 31. Getting Started / Next Steps<br />STAGE 1<br />STAGE 2<br />STAGE 3<br />Advanced Assessment and Continued Development<br /><ul><li>Identify “hits” and “misses”
  32. 32. Develop additional content resources for lead generation
  33. 33. Test and optimize emails and landing pages for various segments
  34. 34. Create advanced, automated, trigger-based campaigns for more segments</li></ul>Marketing Automation Strategy Development<br /><ul><li>Select and implement marketing automation solution
  35. 35. Develop preliminary lead scoring strategy
  36. 36. Define high-value segments in database
  37. 37. Create standard set of automated, trigger-based campaigns for key segments</li></ul>Lead Nurturing/Scoring Initial Assessment<br /><ul><li>Identify current successes and areas for improvement
  38. 38. Begin evaluating marketing automation software
  39. 39. Begin developing list of feature requirements</li></li></ul><li>Summary<br />Solution<br /><ul><li>Institute proven Lead management processes
  40. 40. Adopt Marketing automation technology</li></ul>ROI<br /><ul><li>Large potential benefits
  41. 41. Little incremental investment in resources</li></ul>Benefits<br />Increase Conversion<br />Increase Marketing Productivity<br />Improve Lead Nurturing<br />Increase Sales effectiveness<br />Turn Marketing into a revenue driver<br />
  42. 42. Thank You & Stay Connected!<br />Russell Dalton<br />@demandum<br /><br />(888) 743-7712<br />