What Is Lead Nurturing - A Motarme Guide


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Lead Nurturing refers to building regular, automated interactions with sales leads in order to develop a relationship and encourage a purchase. This guide explains what Lead Nurturing is, and the benefits you can obtain such as converting an extra 20% of leads to sales. We also describe step-by-step how to setup your first lead nurturing program.

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What Is Lead Nurturing - A Motarme Guide

  2. 2. • Most leads are wasted if they’re not a short term opportunity – 75% are lost, ignored or discarded. • But most leads you generate are not short term opportunities. • This means you are wasting money generating leads that you don’t follow-up. • Lead Nurturing is the automation of lead follow-up. • Doing it right means you can convert an extra 20% or more of the leads you generate. 2
  3. 3. Key Points 1. Automate the capture of leads. 2. Categorize your sales leads into different types. 3. Identify the kind of content each type is interested in. 4. Define a follow-up workflow for each lead type. 5. Automate these ‘nurture workflows’. 6. When leads respond trigger appropriate steps. 3
  4. 4. Marketing Automation includes Lead Nurturing Generate Web Traffic “Closed Loop” Reporting Handover SalesReady leads Capture Leads “Nurture” those Leads
  5. 5. Marketing Automation includes Lead Nurturing “Nurture” those Leads
  6. 6. What Is Lead Nurturing? • Companies spend a lot of time trying to generate new and better sales leads. • But they often discard, lose or ignore leads that are not short term opportunities. • Lead nurturing aims to address that problem. • It is the automated process of communicating with new and existing leads. • It involves regular communications – usually via email – to keep your company ‘front of mind’ with leads and identify qualified prospects who are ready to engage with sales. DAY 1 Thank you email DAY 2 Case study email DAY 14 First phone call DAY 28 White paper email DAY 42 2nd case study DAY 49 DAY 56 Webinar invite Second call 6
  7. 7. WhyMarketing Automation Should You Implement Lead Nurturing? There’s a clear business case • There’s a clear return on investment for Lead Nurturing. • A CMO Council Survey estimated that 80% of leads are either lost, ignored or discarded. • Calculate the proportion of your marketing budget you spend on lead generation – typical costs per lead are $100 or more. • How much are 80% of your leads worth? • MarketingSherpa also estimated that around 75% of leads generated by most companies are not followed up if they’re not a short-term opportunity (i.e. going to close in this quarter). With the average B2B lead costing $100+ to generate, that can quickly add up to a lot of money. • Gartner has estimated that automating marketing processes can increase revenue by 20% and reduce marketing costs by 25%. • So, if you want to increase lead conversion you have to manage your leads more efficiently. • That means you should implement lead nurturing. 7
  8. 8. The Goals of Lead Nurturing Marketing Automation 1. Ensure we respond to all leads (i.e. that none of them go un-contacted). 2. Make sure this response happens faster than at present (e.g. minutes or hours rather than days). 3. Ensure we respond to all leads consistently. 4. Ensure this response is based on information we have about the lead, rather than based on a given sales person's current location, their workload or their access to the CRM system or other circumstantial drivers. 5. Ensure that our longer-term response (lead nurturing) is effective at driving engagement with leads – that our actions increase engagement, not decrease it. 6. Record sufficient information about how we manage leads so that we can analyze our activities and draw accurate conclusions about how to improve our approach. 8
  9. 9. How Do You Get Started? 9
  10. 10. How Do You Get Started? • Ensure you are capturing leads from your website and blog. • For example, when a web visitor registers on a ‘landing page’ to download a white paper. • Their details should be automatically stored on a database. • Marketing Automation systems (such as Motarme) take care of this for you. 10
  11. 11. How Do You Get Started? • Some leads are more likely to become qualified than others. • For example, you may find that leads from particular industries or countries are more likely to convert to customers. • A lead score is a numerical value you use to represent how ‘hot’ you think the lead is, based on information you can gather about that lead (explicit) and based on the lead’s behavior during nurturing (implicit). • Set some simple rules to score leads when you first capture them (explicit scoring), and then as you learn more about them (implicit scoring). Score Definition 10 Low quality lead 20 Not in profile 30 In Profile 50 Sales Ready 11
  12. 12. How Do You Get Started? • Categorize the leads you are targeting as different “Personas”. • For example, categorize by role - IT Managers, Sales Directors, CFOs. • And / or by industry e.g. Financial, Medical… • Or other characteristics such as their location, company etc. • The output is a set of Personas – summary descriptions of a category of leads. Sales Role: Sales manager Organization: SME Geography: N.America Goals: have easy access to prospect information 24/7; get better quality leads; better pipeline. Marketing Role: Marketing manager Organization: multi-national Geography: East Asia Goals: manage multiple channels; drive awareness of the company; produce more and better quality leads. IT Role: IT manager Organization: SME Geography: Europe Goals: reliability and availability; simplified architecture; security; cloudbased infrastructure. 12
  13. 13. How Do You Get Started? • Your leads will be interested in different kinds of content depending on their role, industry and their stage in investigating a product or service. • Typically prospective customers move from “awareness” through to “decision”. • As they learn more they require different types of content. • Use a ‘Content Table’ to map out the kinds of content you think will appeal to the Personas you are trying to target as they move through the process. • Content can include white papers, webinars, case studies and short emails. Awareness Interest Evaluation Decision 13
  14. 14. How Do You Get Started? • A Nurture Track is simply a sequence of emails sent out on a pre-defined schedule. • Map out which emails you want to send to each of your personas, and specify the delay between mails. Start 1 Day 1 Email – “Thank you for registering” 2 Day 1 White paper 3 Day 8 Blog post 4 Day 22 Case Study 5 Day 38 Report 6 Day 45 ‘How To’ Guide End 14
  15. 15. How Do You Get Started? • Setup this automated Nurture track on your Marketing Automation system. • This is how it looks in Motarme’s system: • Now as people register on your website the system automatically scores them and allocates them to a nurture track, and they receive a predefined sequence of emails. 15
  16. 16. How Do You Get Started? • You should monitor how your leads respond to your nurture emails and react appropriately. • The monitoring can be automated. • For example, if they open emails, attend webinars and download more content you can automatically increase their lead score. • The goal is to move them to a threshold score where you consider them to be “sales ready” i.e. they fit your profile and have shown serious engagement. 16
  17. 17. How Do You Get Started? • As you monitor your nurture tracks you will see patterns where particular emails or sequences are more effective than others in moving leads along the purchase path. • Define metrics that you want to measure and compare across tracks – e.g. number of leads entering track, average lead score increase, number of unsubscribes, number of leads passed to sales, value of opportunity. • Identify individual emails or content items that draw high responses. • Eliminate emails or sequences that generate higher unsubscribe rates. DAY 1 Thank you email DAY 2 Case study email DAY 14 First call DAY 21 White paper email DAY 28 2nd case study DAY 35 DAY 42 Webinar invite Second call 17
  18. 18. Worksheets 18
  19. 19. Example Lead Score Definition 05 Initial inquiry Marketing qualified lead Handover to Sales 10 30 Sales qualified lead Sales prospect Sales outcome Invalid leads Lead details are valid but insufficient information 40 Verified contact details, company and/or LinkedIn, Google+, Twitter or Facebook 50 Marketing Qualified plus positive response with nurture track Sales Ready 19
  20. 20. Example Nurture Track Definition Nurture Track Track Name Persona 1 Track 1 Awareness Persona 1 Track 2 Evaluation Persona 1 Track 3 Selection Persona 2 Track 1 Technical Assessment Persona 2Track 2 Technical Evaluation Persona 2 Track 3 Implementation 20
  21. 21. Example Nurture Track Definition Start 1 Day__ Initial “Thank You” email 2 Day__ White paper – “Title” Nurture Track 1 Email 1 – White paper name ________ 3 Day__ Blog – “Blog post” Nurture Track 1 Email 2 – Blog post _______________ 4 Day__ Report – “Report name” Nurture Track 1 Email 3 – Report__________________ 5 Day__ <Call> 6 Day__ Blog – “Blog post”. Nurture Track 1 Email 4 – Blog post ______________ 7 Day__ Report “Report name” Nurture Track 1 Email 5 – Report _________________ 8 Day__ Blog – “Blog post” Nurture Track 1 Email 6 – Blog post ________________ 9 Day__ 10 Day__ Email Names <Call> Blog – “Blog post” End Nurture Track 1 Email 7 – Blog post ________________ 21
  22. 22. About Motarme 22
  23. 23. Motarme is an easy-to-use Marketing Automation system. Motarme is specifically designed to help business-to-business (B2B) companies in the technology, engineering and industrial sectors generate sales leads online. The system automates lead capture, lead scoring, landing page creation, email lead nurturing and reporting. In addition to our web-based Marketing Automation product we provide consulting, web marketing and lead generation services. Our customers include Siemens, Mergon Group, SF Engineering and mid-size and early stage technology companies. Web: www.Motarme.com.
  24. 24. About Motarme Clients “The system delivered real, measurable results in a short timeframe – sales and contacts from our target audience at Tier 1 companies.” Caolan Bushell Business Development Manager Mergon Group “Generating leads online is now a central part of our sales strategy.” Barry Rooney Chief Operations Officer Siemens ITSS “ We have seen for ourselves how a solid strategy has helped to drive traffic to our site and generate sales leads.” Joe Lynch General Manager IMEC Technologies
  25. 25. Motarme Marketing Automation T: +353 1 969 5029 M: +353 86 383 8981 W: www.motarme.com Twitter: @motarme 25