Integrating Sales & Marketing to Create a Conversion Driven Culture
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This document summarizes a presentation about integrating sales and marketing teams to create a conversion-driven culture. The presentation discusses overcoming communication challenges between sales and marketing, developing incentives for lead generation and follow up, and creating predictive sales and marketing plans. It provides a case study of a master-planned community that utilized various marketing tactics before and after launch to exceed sales predictions. The presentation emphasizes setting goals, tracking key performance indicators, and creating accountability and competition within sales teams.
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Integrating Sales & Marketing to Create a Conversion Driven Culture
- 1. Integrating Sales & Marketing to Create a Conversion Driven Culture Robert Cowes, President & CEO, SmartTouch® Interactive Shant Samtani, Sales Manager, Esperanza Homes Integrating Sales & Marketing 1
- 2. What’s this Session About? Are your sales and marketing teams NOT at it again? When home sales are down, is it Marketing’s fault for not generating quality leads or is it Sale’s fault for not working the leads and following up? This class will teach you how to overcome communication challenges and introduce integrating Sales & Marketing to your teams, develop contests and incentives, and a few other tips to create CRM power-users and experts in follow-up. Integrating Sales & Marketing 2
- 3. What We’ll Cover • Learn the key ingredients to develop a predictive Sales & Marketing plan • Know how to enable measurement to track results • Understand the process of transforming your Sales organization into a lead conversion machine • Maximize Sales & Marketing efficiency by working together Integrating Sales & Marketing 3
- 4. Integrating Sales & Marketing 4 Audience Question & Answer 4 Chances to Win Hot/ColdTumbler Today May 1 AllLines In Find More Buyers, Sell More Homes +
- 5. Integrating Sales & Marketing 5 Biggest Challenge Today • Marketing doesn’t communicate what they are running and where. • Sales doesn’t communicate back what’s working and what’s generating quality leads.
- 6. Marketing • Helps you get a higher return on marketing dollar investment • Generates sales and marketing efficiency • Ultimately predict the business outcome with more reliability • Drives accountability in your Sales & Marketing Organizational Culture Sales • Creating an inclusive culture where everyone knows what everyone does • Cost per lead establishes the importance of each lead • If sales team understands and shares what is working, marketing can give them what they need to succeed • Conversion ratio per lead source • Cost per sale broken down by lead source Why does creating a Sales & Marketing Conversion Driven Culture matter? Integrating Sales & Marketing 6
- 7. Case Study Tres Lagos, Master-Planned Community | McAllen, TX
- 8. Tres Lagos, Master-Planned Community in McAllen, Texas 2,500 Acres 5,000 Homes 25 Year Build- Out Integrating Sales & Marketing 8
- 9. 1. Whisper Campaign & List Building 2. Pre-Grand Opening 3. Grand Opening Weekend 4. Post Launch Momentum Tres Lagos Predictive Model in Practice (Q2/2016 – Launch Q3/2017) Integrating Sales & Marketing 9
- 10. Whisper Campaign • When: Starts at least a year before Grand Opening (Q2/2016) • What: List Building • Where: Landing Page Signage Search & Display Social Media Pages Facebook Ads Realtor Emails • Why: Stir interest, build a list, build a following Integrating Sales & Marketing 10
- 12. Expert Tip #1: “A goal without a plan is just a wish.” Integrating Sales & Marketing 12
- 13. Landing Page Signage Search & Display Social Media Pages Facebook Ads Realtor Emails Buyer Emails SEO Media Buys Listing Sites Reservation Program • When: 6 months before Grand Opening (Q2/2017) • What: Share updates and add layers to your program • Where: Pre-Grand Opening • Why: Generates awareness around the grand opening weekend, nurture leads from listing building stage, gains momentum for the event Integrating Sales & Marketing 13
- 14. What We Did • Worked through back up of 2000 leads • Utilized the CRM, cold called, aggressive follow up. • Brought buyers to the Esperanza Office. What We Accomplished • Establish confidence in the home product using only a map on a TV screen and hand drawn plans • 94 pre-sales Pre-Grand Opening (Sales) Integrating Sales & Marketing 14
- 16. Expert Tip #2: Your list building and nurturing strategy is what builds interest and advances shoppers to buyers through the grand opening. Integrating Sales & Marketing 16
- 17. Landing Page Signage Search & Display Social Media Page Facebook Ads Realtor Emails Buyer Emails SEO Media Buys Listing Sites Reservation Program Print Event • When: 1-2 months before (Q3/2017) • What: Heavy promotions • Where: Grand Opening Weekend • Why: Gather RSVPs to gage turnout, build relationships with Realtors, pre-sales Integrating Sales & Marketing 17
- 18. What We Did • Effort, making sure your team is touching every lead multiple times • Booking tours, putting good notes in the system for every tour and be- backs • Staying tight on the data What We Accomplished • Didn’t make it a sales event, made it a lead gen event • It was more important to get as many registrations and people added to the CRM as possible, than it was to get a dozen sales • RSVPs Grand Opening Weekend (Sales) Integrating Sales & Marketing 18
- 19. Campaign Examples Integrating Sales & Marketing 19
- 20. Expert Tip #3: Specify your goals and you will hit them. For instance, “Our goal is to presell 60 homes.” Integrating Sales & Marketing 20
- 21. Grand Opening Weekend 120 Homes Pre-sold2000 Attendees1000+ Pre-Registered
- 22. Grand Opening Year $97,500 Marketing Budget* 1,800 Engagements 424 Tours 64 Homes Sold Predictions for 2017 *Does not include community events Integrating Sales & Marketing 22
- 23. Grand Opening Year $97,500 Marketing Budget* 7,247 Engagements 1120 Tours 145 Homes Sold Actual Results for 2017 *Does not include community events Integrating Sales & Marketing 23
- 24. Year 1 After Grand Opening $357,000 Marketing Budget* 3,116 Engagements 640 Tours 96 Homes Sold Predictions for 2018 *Does not include community events Integrating Sales & Marketing 24
- 25. Year 1 After Grand Opening $357,000 Marketing Budget* 12,524 Engagements 1,313 Tours 127 Homes Sold Actual Results for 2018 *Does not include community events Integrating Sales & Marketing 25
- 26. How Sales Surpassed 96 Sold Homes Integrating Sales & Marketing 26 2. Sales is an effort game. 4. Put it in the CRM 1. Sales Never Sleeps 2. Create Great Leadership = 127 Homes Sold
- 27. MARKETING + SALES = MORE CONVERSIONS
- 28. • Establish Sales and Revenue Goal • 0.5 – 2% on Marketing • Establish Conversion Metrics • Forecast • Lead Engagements • Tours • Sales • Expected Cost per Transaction Predicting results before you start. Integrating Sales & Marketing 28 Methodology of Predictive Performance Modeling
- 29. Average Sales Price $450,000 Total Estimated Sales 100 Estimated Gross Sales Revenue $45,000,000 % of Sales .89% Total Spent on Marketing $400,000* *Does not consider model home expenses, operating headcount, or realtor commissions. How Do We Get There? Integrating Sales & Marketing 29 Predicted Results from 1% of Gross Revenue
- 30. Predictions Operation Expenses Lead Generation Expenses Integrating Sales & Marketing 30 In Every Plan…
- 31. MARKETING OPERATING EXPENSES SNAPSHOT Integrating Sales & Marketing 31
- 32. MARKETING OPERATING EXPENSES Integrating Sales & Marketing 32 Examples
- 33. Integrating Sales & Marketing 33 LEAD GEN EXPENSES SNAPSHOT
- 34. Integrating Sales & Marketing 34 LEAD GEN EXPENSES Examples
- 35. Integrating Sales & Marketing 35 Predictions SNAPSHOT
- 36. Lead to Tour 20% 2,659 Engagements Tours to Sales 15% 676 Tours 100 Sales 100 Homes Integrating Sales & Marketing 36 Predictions (to get to 100 homes)
- 37. $223,000 / 2,659 Engagements CPE $61 $223,000 / 676 Tours CPT $330 $223,000 / 100 Sales CPS $2,234 100 Homes *$400,000 Annual Budget | $223,000 Lead Gen Expenses | $176,000 Content & Marketing Operating Expenses **Example formula and pricing based on new community being launched in the market and first year goals. Integrating Sales & Marketing 37 Predictions (based on efficiency)
- 38. Integrating Sales & Marketing 38 Audience Question & Answer Question 1 Q: What is the range of percentage of gross revenue most often dedicated to marketing? A: .5 – 2%
- 39. *Does not consider model home expenses, operating headcount, or realtor commissions. Predicted Results | Approx. 1% of Gross Revenue Integrating Sales & Marketing 39 Average Sales Price $450,000 Total Estimated Sales 100 Estimated Gross Sales Revenue $45,000,000 % of Sales .89% Total Spent on Marketing $400,000*
- 40. Integrating Sales & Marketing 40 Communication Strategy
- 41. Integrating Sales & Marketing 41 Communication Strategy
- 42. 1) Establish sales and revenue goals. 2) Establish % of marketing budget. 3) Apply conversion metrics based on capture rates. • If you don’t have that data, industry benchmarks for Engagements to Tours is 20%. • And depending on market demand 10-15% for Tours to Sales. Integrating Sales & Marketing 42 Recap:
- 43. What Metrics Do You Use to Define Success?
- 44. Engagements Tours Sales KPIs for Overall Plan Integrating Sales & Marketing 44
- 45. Engagements • Registrations (Online & Onsite) • Calls • Driving Directions Tours Sales KPIs for Marketing Integrating Sales & Marketing 45
- 46. Engagements • Registrations (Online & Onsite) • Calls • Driving Directions Tours • Converts lead engagements to appointments • Lead to Tour Conversions Sales • Tours to Sales Conversions • Contracts to Closings KPIs for Sales Integrating Sales & Marketing 46
- 47. Integrating Sales & Marketing 47 Audience Question & Answer Question 2 Q: What are the three types of meaningful engagements you want to measure by channel? A: Registrations, Calls, and Driving Direction clicks
- 48. Enabling Tracking of KPIs Google Analytics CRM Google My Business Integrating Sales & Marketing 48 CallRail
- 49. Enabling Tracking of KPIs by Source (CRM) Integrating Sales & Marketing 49
- 50. Integrating Sales & Marketing 50 Enabling Tracking of KPIs by Source (CRM)
- 51. Enabling Tracking of KPIs by Source (CRM) Integrating Sales & Marketing 51
- 52. Integrating Sales & Marketing 52 Enabling Tracking of KPIs by Source (Analytics)
- 53. Enabling Tracking of KPIs: Events/Actions
- 54. Enabling Tracking of KPIs: Events/Actions
- 55. Enabling Tracking of KPIs: Business Listing Integrating Sales & Marketing 55
- 56. Integrating Sales & Marketing 56 Enabling Tracking of KPIs: Business Listing
- 57. MARKETING + SALES = MORE CONVERSIONS
- 58. Integrating Sales & Marketing 58 Biggest Challenge Today • Marketing doesn’t communicate what they are running and where. • Sales doesn’t communicate back what’s working and what’s generating quality leads.
- 59. Integrating Sales & Marketing 59 Put Yourself in a Sales Person’s Shoes. • Typically, don’t understand how digital marketing works. • Everyone on your Sales team needs to know what everyone in the company does and why.
- 60. Integrating Sales & Marketing 60 Put Yourself in a Sales Person’s Shoes. • Does your sales team know what your marketing budget is? Per sale? • How much does each lead cost? • What is your top lead source? Can your Sales team answer this question and prove it with data in your CRM? For Example Create an inclusive and educated Sales Team!
- 61. Integrating Sales & Marketing 61 Tres Lagos I knew nothing about construction, marketing, etc. I knew I could sell. This is how your Sales team feels!
- 62. Integrating Sales & Marketing 62 Backup of 2000 Leads • Learned how to use a CRM. • Learned how to cold call. • Learned the importance of following up. • Learned the importance of data and metrics. Sales never sleeps!
- 63. Integrating Sales & Marketing 63 Set Your Goals and You Will Hit Them! • Need 100 sales. • Tour to contract ratio at Tres Lagos last year was 15%, so I need 667 1st tours. • Lead to tour ratio was 20% last year, so I need 3,335 leads. Does your sales team know how to calculate that themselves?
- 64. Integrating Sales & Marketing 64 Audience Question & Answer Question 3 Q: To get 100 sales, how many tours do you need with a 15% tour to contract ratio? A: 667
- 65. Community Data vs Personal Data
- 66. Integrating Sales & Marketing 66 It is important that everyone on your Sales team understands where the community performance stands before understanding where they stand. This allows you to compare them to the team’s data during your meeting. Community Data
- 67. Integrating Sales & Marketing 67 • “We are 19% through the year.” • “We have 12% of our leads after getting 31 leads this week.” • “We are 20% through our tours after getting 6 1st tours this week.” • “We are 14% through our sales goal after getting 4 sales this week.” • “We are 8% through our closing goal after getting 2 closings this week.” • “OUR tour to contract ratio is 13%.” Community Data
- 68. Integrating Sales & Marketing 68 • Does your Sales team know how to grade their own performance? Personal Data • How many tours does this sales leader need to hit her sales goal?
- 69. Integrating Sales & Marketing 69 • “This week, I got 12/31 of the leads.” • “I had 6 1st tours.” • “I had 3 Be-Back tours.” • “I got 2 sales.” • “My stat line for the week is 12-6-2.” • I have 7/11 sales for the quarter. • I have 7/7 starts for the quarter. • Have a 16% tour to contract ratio. • I have a 3.63/4 customer satisfaction score. Personal Data
- 70. Integrating Sales & Marketing 70 • The list can be small or large, as long as the Sales leader can justify everyone on the list. • Justify the “Contract Goal Date”. • Does the lead score correspond with how engaged the Sales leader says they are? Hot Leads Report • When was the last time the Sales leader touched these “hot leads”. • Make sure every hot lead has a lead source. • Have a conversation about each of these and create a plan for how to execute on each buyer’s hurdle. • Do the exact same for your new leads report and make sure all have been touched.
- 71. Sales team meeting: • Weekly, the Sales team meets and prepares their individual data. • Everyone on the team announces their stats for the week/quarter/year to the team. 1. Creates accountability. 2. Creates competition. Integrating Sales & Marketing 71 If your sales teams can score the community, and they can score themselves, they can also score each other!
- 72. Creating a Competitive Environment
- 73. Your Sales team competes for leads, tours, and sales. How can we break those down and make them compete even further? Integrating Sales & Marketing 73
- 74. Integrating Sales & Marketing 74 Examples: • If a prospect calls us, every Sales leader’s phone rings at the same time – first to answer gets the lead. • Every phone call is recorded and automatically emailed to every Sales leader on the team – creates quality energetic phone calls!
- 75. Integrating Sales & Marketing 75 Examples: • Social media messages go to the first to respond. • Test: Message Esperanza Homes on Facebook right now and say you are interested in X floorplan. Response WILL be in under 2 minutes by an actual person! @esperanzahomestx
- 76. Integrating Sales & Marketing 76 Examples: • First tour of the day goes to the sales leader that got to the model home first.
- 77. Integrating Sales & Marketing 77 Examples: • Create FAIR methods in which your Sales leaders can steal each other’s leads: • If a new lead isn’t touched in 24 hours, it is fair game to be stolen. • If a lead hasn’t been touched in 30 days, it can be stolen. • If a contract goal date is expired, a hot lead can be stolen. • If a lead source is missing, your lead can be stolen.
- 78. Integrating Sales & Marketing 78 Sales Life Cycle Methodology Classifications • 01 – Ready to Act • 02 – Ready to Act w/ Hurdle • 03 – Desire to Purchase • 04 – New Lead • 05 – Assigned Followers • 07 – E-Credit • 09 – Homeowners
- 79. Integrating Sales & Marketing 79 Model Home Rules Total 01’s: 0 Total 02’s 0 Total 03’s 13 Total 04’s 188 Total 05’s 260 Total 09’s Total’s 461 Total 01’s: 0 Total 02’s 0 Total 03’s 5 Total 04’s 92 Total 07’s 3 Total 05’s 306 Total 09’s 13 Total’s 419
- 80. Integrating Sales & Marketing 80 Make sure everyone knows how every Sales leader is performing, companywide! Post statistics and report cards weekly.
- 81. Integrating Sales & Marketing 81 Audience Question & Answer Question 4 Q: What is ONE way you can create a competitive environment for the Sales team? A: Any of the before examples/if you made up your own!
- 82. Don’t Quit the Upward Climb
- 83. Integrating Sales & Marketing 83 Don’t Quit the Upward Climb • How often does your Sales team say, “lead was not interested” and never touches them again? What do they have to lose?
- 84. Integrating Sales & Marketing 84 Don’t Quit the Upward Climb • Can you prove that your sales team is doing this? • Lead score, last note date, completed actions can track how many times a sales leader touches a lead.
- 85. Power Users
- 86. Integrating Sales & Marketing 86 Can your sales team answer these questions? 1. What is your highest converting lead source? 2. How many tours does it typically take you to close a sale? 3. How many leads did you get during the 2nd week of April last year? 4. How many leads and tours do you need to hit your quarterly goal?
- 87. Integrating Sales & Marketing 87 A CRM provides great tools, and not using them is a huge mistake. • Everyone on your team should be able to track every metric on their own. • Every Sales leader should have a clear understanding of how each lead got to the CRM. • Every Sales leader needs to understand how the current marketing campaign / marketing plan impacts their sales performance!
- 88. Integrating Sales & Marketing 88 Is there a question you can’t answer?
- 89. Integrating Sales & Marketing 89 Then find an answer.
- 90. Integrating Sales & Marketing 90 And finally… “Guild Surveys” 1. 30 days after buyer signs a contract. 2. 10 weeks into construction (right around frame walk) 3. 50 days after move in (after final walk of the home) Creates even more accountability.
- 92. Biggest Challenge Today is Sales & Marketing Aren’t Communicating. Integrating Sales & Marketing 92
- 93. Marketing • Helps you get a higher return on marketing dollar investment • Generates sales and marketing efficiency • Ultimately predict the business outcome with more reliability • Drives accountability in your Sales & Marketing Organizational Culture Sales • Creating an inclusive culture where everyone knows what everyone does • Cost per lead establishes the importance of each lead • If sales team understands and shares what is working, marketing can give them what they need to succeed • Conversion ratio per lead source • Cost per sale broken down by lead source Why does creating a Sales & Marketing Conversion Driven Culture matter? Integrating Sales & Marketing 93
- 94. Integrating Sales & Marketing 94 Robert Cowes President & CEO rcowes@smarttouchinteractive.com (512) 659-6863 Shant Samtani Sales Manager shant@esperanzahomes.com (956) 229-9203 Contact Robert & Shant
Editor's Notes
- Actual Results for 2018: 96 predicted, 127 actual (How?) Sales never sleeps. Sales is an effort game, the harder you work, the more sales you get. Constantly adjusting sales leader goals upward. Someone misses their goal, keep goal the same next quarter. Someone beats goal by 10%, adjust upward 15%. If it was easy, anyone could do it. Create great leadership: Your sales team is your best training resource. Empower your team to lead by example. Is it in the CRM? If its not in the CRM, you didn’t actually do it. Establish the importance of recording data.
- For the price of less than one home, you could sell a hundred.
- This slide is a sample layout and it is not required, just a suggestion.
- This slide is a sample layout and it is not required, just a suggestion.
- For the price of less than one home, you could sell a hundred.
- Typically, don’t understand how digital marketing works. All marketing does is manage our website, provide marketing material, and give us leads, right?
- Our new Master Planned Community – Tres Lagos: I knew nothing about construction, marketing, etc. I knew I could sell. This is how your sales team feels! I was brought in to eventually be a sales manager but had to prove I could sell first. First day on the job: Smarttouch quarterly report on my first day. I understood the importance of the data even though I didn’t totally get it. We didn’t have a marketing team, sales manager, etc. I got to start from scratch.
- Whisper campaign before I got there – had 2000 leads. Key takeaways: Learn how to use a CRM. Learn how to cold call. Learned the importance of following up. Learned the importance of data and metrics. Sales never sleeps!
- Set your goals out front and you will hit them: Set a sales goal. Need 100 sales. Tour to contract ratio at Tres Lagos last year was 15%, so I need 667 1st tours. Lead to tour ratio was 20% last year, so I need 3,335 leads. Does your sales team know how to calculate that themselves? Weekly check-in meeting with each sales leader: Bring community data, personal data, hot leads report, new leads report. It is important that they prepare this data on their own to create accountability.
- Looking at this data, leads are slow but we are still ahead on tours. Tour to contract ratio is at 13% and our goal is 19%. Yes, leads are slow, but our lead goal is an annual figure and we will hit it – make sure they know that! However, we have our tours, so where are our sales? Sales team’s fault for not converting. If tours were low along with leads, then not sales team’s fault because we are behind on tours necessary for sales. If your sales team understands this, they will understand how to improve on their own flaws! They will understand their own performance!
- Life Cycle Stages – categorize every lead: Every lead matters. How do you make sure every lead gets touched constantly? Lead comes in as a new lead – 04 New Lead. How long can a lead remain a new lead? 30 days. How many 04s can a sales leader have? As many as they can call every 30 days. 03 – Ready to Act. An 04 transitions to an 03 after they have toured and shown interest. An 03 must have contract goal date. Contract goal date is expired, sales leader loses the lead. 05 – Lead: An 05 is a lead that is not new or hot. 05’s are fair game to every sales leader. 02, 01, 00 – cover how lead moves through the pipeline. Pipeline report per sales leader: Which of these is more manageable and why? Establish clear model home rules that create a competitive environment:
- By getting your sales team to understand the data, they will become CRM power users.