Pardot Presentation: Nurturing the Lead Lifecycle ~ Automate Engagement and Win More Customers
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Learn about lead nurturing and marketing automation from Pardot's Julian Erickson.
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Pardot Presentation: Nurturing the Lead Lifecycle ~ Automate Engagement and Win More Customers
- 1. Nurturing The Lead Lifecycle ~ Automate Engagement and Win More Customers. Thursday, July 16th Julian Erickson – Salesforce, Pardot Strategy jerickson@salesforce.com 312-288-3665
- 2. Agenda • What’s changed • Why does it matter • “Find, Win, Keep” – Rinse & Repeat
- 3. Buyers Are More Connected to Information Than Ever Before Website Social Media Email References Community
- 4. Buyers Are Now 60% Through Sales Cycle Before They Engage With a Sales Person ABOUT US CONSUMER REVIEWS SOCIAL MEDIA COMMUNITY DISCUSSIONS PRICING PAGE CONTACT SALES GOOGLE SEARCH 60% of the buyer’s journey is complete by the time he or she reaches out to sales. 60% In 2020, this rate of completion is projected to be 85% or higher. 85%
- 5. The Impact: Sales is less productive & it’s harder to close deals Sources: Business2 Community, Leap Job, Ovation Sales, Group, Sirius Decisions, TopRankMarketing of buyers want to wait to connect with a company until they’re ready to buy 90% of cold calls result in an appointment with a customer 2% on average, sales people invest 6.25 hours to set one appointment 6.25
- 6. Ultimately customers purchase point solutions that create data “Silos” CMS Segmentation Email Analytics Forms Why is this a problem? There are 100s of channels to market to customers Very Limited 360 Degree Integration Multiple places for reporting = You can never have a full view of marketing ROI
- 7. What is Marketing’s role….Today?
- 8. Marketers are trying to keep ahead in this new world How do they describe themselves? “Overwhelmed”
- 9. Exercise: “Find – Win – Keep”
- 10. 9,070 “Warm” leads that did not convert $$$ "80% of contacts who express an interest to buy today but do not, will do so in the next 24 months.” ~ SiriusDecisions
- 11. XYZ Manufacturing Current Situation Sales Funnel How You Measure ROI? INPUTS Total Spend: Leads Generated: Cost per Lead: $100,000 3,000 $33.33 How do you capture user data? How do you pass leads to sales? How do you follow up with non-sales ready leads? OUTPUTS Leads: Cost Per Lead: Sunk Cost: 2,490 $33.33 $82,991 17% Lead Conversion The Sales Funnel Lead Generation Campaigns Dead Leads
- 12. Industry Data 17% of leads convert into opportunities. -Bridge Group Study 77% indicate that their most compelling reason for implementing marketing automation is to increase revenue. -Gleanster 78% of leads go to the company that responds first. -Source Harvard 80% of Sales Leads are mishandled by Sales. -Forrester Research Companies that excel at lead nurturing generate 50% more sales- ready leads at 33% lower cost. -Forrester Research Only 25% of leads are legitimate and should advance to sales. -Gleanster Research Lead Generation Campaigns The Sales Funnel 80% of contacts who express an interest to buy today but do not, will do so in the next 24 months. -SiriusDecisions Dead Leads
- 13. Salesforce Solution Lead Generation Campaigns Dead Leads Email Landing Pages Forms Google Ad Words Social Posting Video/Event Automated Lead Transfer from Marketing to Sales Engage Alerts Lead Scoring/Grading Activity Tracking Closed Loop ROI Reporting Drip Nurture Campaigns Dead leads are returned to the funnel and put into nurture campaigns, where we see a 3x conversion rate.
- 14. Thank you
Editor's Notes
- I’d like to do 4 things today: Review highlights from our last discussion to make sure I’ve captured your pain points and priorities accurately Talk through how Pardot can address the challenges you face Demonstrate how the solution works and give you an idea of how it would work inside your company Discuss the most effective way to move through this evaluation cycle together
- The Buying Process is Changing: 60% of the buying process is now complete by the time a prospect is ready to engage with sales. By 2020, customers will manage 85% of their relationship without talking to a human. (Gartner)
- It takes an average of seven touches to convert a “suspect” to a “prospect,” which grows to eight touches for enterprise-level accounts (Bridge Group) Nurtured leads at best in class organizations delivered 47% higher average order values than non-nurtured leads (Aberdeen Research)
- Only 17% of leads convert to qualified opportunities. (Bridge Group) 80% of all marketing-sourced leads are mishandled by sales. (Forrester Research) ----- Meeting Notes (4/14/15 10:35) ----- This means that 83% of leads need an ongoing engagement / touch points to keep them warm.
- Pardot solves 3 things: For the first time it drives true alignment between sales and marketing by making marketing a very critical extension of the sales team It allows marketers to create more and better pipeline that will actually close for sales reps It finally provides that single source of truth for marketers where they have all their efforts managed in one place where they have realtime insight into exactly what’s working and what’s not. This enables them to make constant tweaks to their approach that continues to drive better and better results for for the company. For the first time they can truly measure their value. Let’s talk about how we do that by going through a buyer funnel. Traditionally marketings role was more aimed at branding, communication and advertising as a way to generate awareness and interest. Nowadays, marketing owns much more of the sales process and so marketers are forced to become a killer extension of the sales team for the early parts of a sales cycle. This has resulted in a paradigm shift and has left marketers with a lot more responsibility in the funnel
- In a recent HBR survey with marketers – they asked what is 1 word you would to describe yourself. There answer: Overwhelmed. It makes sense: Buyers are more knowledgeable and empowered. Coversation rates are decreasing and Sales Cycles are increasing. Marketers have increasing demand to show ROI - And there are 1000s of tools a marketer can leverage to succeed. Its daunting… Engagement question: What is top of mind for a CMO?
- ----- Meeting Notes (4/14/15 15:35) ----- SiriusDecisions research states that "80% of contacts who express an interest to buy today but do not, will do so in the next 24 months." This means that if you are dismissing leads that are not yet sales ready, you are leaving serious $ on the table. Automation can help you capitalize on that revenue and add to your bottom line. ----- Meeting Notes (4/14/15 16:58) ----- AND it pays of fast - very fast! A customer in chicago sent this un-solicited testimonial last month to our president: ----- Meeting Notes (4/14/15 17:04) ----- Exciting News / new release coming - Engage
- X’s – Fill out the customers Data Input = Marketing Spend on Lead Gen * How many leads do they get from that spend * Take Total Input / Total Leads = Cost per lead Conversion % = Customers avg. conversion from lead to oppty percentage * In this case 4K Leads Convert (20%) Trash = Percentage of customer’s leads that do not convert * In this case 16k Lead “Dead” (80%) * 16k Leads X $5 Lead = $80k sunk cost With Pardot the customer can take those “dead leads” and push them back into nurturing campaigns and into the funnel where we will see a 3x conversion rate As the leads convert to customers, we have close loop reporting to tie back all ROI to the customers specific campaign (in this model, SEO/SEM) Based on cost of Pardot in comparison to avg. deal size, how many deals would it take to justify the investment
- This is easy for people to understand and remember/tell the story. Want to automate this for discovery. Katie – make sure I have the product story down. Keep this as appendix slide. “If you feel like this helps you do discovery – use it” Would be cool to have a microsite – like that online ROI calculator we have today – to take them through this discovery exercise Some of it would be data Some would be qualitative At the end – you can save it and share it back with them – save as .pdf and leave with them