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Why Marketing Must Nurture Leads for Maximum Sales Success Loren McDonald VP, Industry Relations Silverpop January 13, 2009
Speaker/Agenda <ul><li>Agenda </li></ul><ul><ul><li>Timing is Now for Lead Nurturing </li></ul></ul><ul><ul><li>Scoring & ...
Vtrenz, a Silverpop Solution <ul><li>Marketing/Lead Automation SaaS provider </li></ul><ul><li>Founded in 1999 </li></ul><...
From Too Many “Leads” … to Not Enough?
Recession: The Question is For How Long?
What Does a Recession Mean to B2B Marketers? <ul><li>Marketing Budgets? </li></ul><ul><ul><li>Typically – frozen or cut </...
What Does This Mean? – Opportunities for B2B Marketers <ul><li>Automate marketing processes </li></ul><ul><li>Optimize cam...
Marketing’s Opportunity & Responsibility <ul><li>82.5% are ready to buy or  will buy </li></ul><ul><li>70% are long-term o...
Leaky Sales Funnel  Increases Customer Acquisition Costs Mature Marketing Processes Close the B2B Lead Management Gap
So…Marketing’s Role Has to Change <ul><li>Need to be “lead developers” not just  “lead generators”  </li></ul><ul><ul><li>...
Keys to Maximizing the Sales Lead Process <ul><li>Common definition of a “lead” </li></ul><ul><li>Scoring leads – assignin...
What is a Lead? <ul><li>White Paper Download </li></ul><ul><li>Tradeshow Attendee </li></ul><ul><li>Webinar Attendee </li>...
Score Leads Based on Sales Readiness   <ul><li>Clearly defining “sales ready” results in less lead waste </li></ul><ul><li...
Lead Scoring- Explicit Data <ul><li>Defines the right lead based on your target market segment </li></ul><ul><li>Scoring p...
Lead Scoring- Implicit Data <ul><li>Scores Activity </li></ul><ul><li>Recency and frequency scores with automated  discoun...
<ul><li>Using lead scoring, map communications to prospect’s buying cycle with agreed-upon action plans </li></ul>Interact...
Routing: Ensure Follow-up Within 48 Hours <ul><li>Over 7x improvement in sales if leads are responded to within 48 hours <...
What is Lead Nurturing <ul><li>Leveraging a series of communications to maintain ongoing contact with prospects identified...
Utilize Rules-Based Marketing to Eliminate “One and Done” Marketing <ul><li>Understand your sales cycle and map your commu...
ControlScan’s Typical Drip Campaign Campaign Objectives: Increase compliance rate for Partner’s merchants and the marketin...
Drip Campaign Contents Email #1 Email #3 Email #2 Call to actions became increasingly more urgent. All action is directed ...
Drip Campaign Contents Direct Mail Content
Drip Campaign Contents Campaign Microsite Call to action is to enroll in mandatory program.
Lead Nurturing Tip #1 <ul><li>Communicate </li></ul><ul><li>Keep your company top-of-mind as prospects move through the bu...
Message Creation <ul><li>Know Your Audience and Ask Yourself </li></ul><ul><li>How can we build credibility with our prosp...
Lead Nurturing Tip #2 <ul><li>Engage in Meaningful Two Way Conversations  </li></ul><ul><li>Cut through the “noise” and be...
Lead Nurturing Tip # 3 <ul><li>Target High-Potential Leads </li></ul><ul><li>Hone your targeting </li></ul><ul><li>Offer v...
Usher the Lead Through the Sales Cycle Lead Nurturing supports all stages of the lead management process Marketing Qualifi...
Stay Involved <ul><li>Avoid lead waste </li></ul><ul><li>Have processes in place ready to fold a lead back into the nurtur...
Summary <ul><li>Effective lead nurturing </li></ul><ul><ul><li>Communicate! </li></ul></ul><ul><ul><ul><li>Know your audie...
Q & A <ul><li>Follow Me </li></ul><ul><ul><li>Twitter – LorenMcDonald </li></ul></ul><ul><ul><li>Columnist </li></ul></ul>...
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Lead Nurturing Best Practices in Tough Times

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Lead Nurturing Best Practices- Presentation on the importance of lead nurturing in increasing sales success - particularly in tough economic times. Includes overview of lead scoring and lead routing; example of lead nurturing program; and some key tips and best practices.

Published in: Business, Career
  • Thank you for sharing. I fully agree that lead nurturing is effective in challenging times. regards, remco - http://www.slideshare.net/remco123/customer-intimacy-as-recession-proof-strategy-presentation?type=powerpoint
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  • Recorded version with audio can be found on the BrightTalk site here - http://www.brighttalk.com/webcasts/2078/play
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Lead Nurturing Best Practices in Tough Times

  1. 1. Why Marketing Must Nurture Leads for Maximum Sales Success Loren McDonald VP, Industry Relations Silverpop January 13, 2009
  2. 2. Speaker/Agenda <ul><li>Agenda </li></ul><ul><ul><li>Timing is Now for Lead Nurturing </li></ul></ul><ul><ul><li>Scoring & Routing </li></ul></ul><ul><ul><li>Lead Nurturing </li></ul></ul><ul><ul><li>Q & A </li></ul></ul><ul><li>Loren McDonald </li></ul><ul><li>VP, Industry Relations </li></ul><ul><li>Silverpop </li></ul>
  3. 3. Vtrenz, a Silverpop Solution <ul><li>Marketing/Lead Automation SaaS provider </li></ul><ul><li>Founded in 1999 </li></ul><ul><li>Part of Silverpop, top provider of permission based marketing solutions </li></ul><ul><li>350+ employees with offices in Atlanta, Fargo, Irvine and London </li></ul><ul><li>Top tier ranking by Jupiter Research and SiriusDecisions </li></ul><ul><li>Integration with leading CRM solutions </li></ul><ul><ul><li>Salesforce.com </li></ul></ul><ul><ul><li>Microsoft Dynamics </li></ul></ul><ul><ul><li>Batch API </li></ul></ul>
  4. 4. From Too Many “Leads” … to Not Enough?
  5. 5. Recession: The Question is For How Long?
  6. 6. What Does a Recession Mean to B2B Marketers? <ul><li>Marketing Budgets? </li></ul><ul><ul><li>Typically – frozen or cut </li></ul></ul><ul><li>ROI/Spend Decisions? </li></ul><ul><ul><li>Cut marketing activities that don’t lead to near-term sales </li></ul></ul><ul><li>Revenue? </li></ul><ul><ul><li>Management focuses on immediate/short-term revenue </li></ul></ul><ul><li>Resources? </li></ul><ul><ul><li>Make do with what you have </li></ul></ul><ul><li>Measurement? </li></ul><ul><ul><li>Real-time, accurate – hard, not soft- ROI focused </li></ul></ul><ul><li>Targeting? </li></ul><ul><ul><li>Increased focus on existing relationships </li></ul></ul>
  7. 7. What Does This Mean? – Opportunities for B2B Marketers <ul><li>Automate marketing processes </li></ul><ul><li>Optimize campaigns </li></ul><ul><li>Focus on: </li></ul><ul><ul><li>Nurturing the “A” and “B” lead pool </li></ul></ul><ul><ul><li>Cross-selling/Up-selling existing customers </li></ul></ul><ul><li>Focus measurement on outputs: </li></ul><ul><ul><li>Revenue </li></ul></ul><ul><ul><li># Sales-ready leads </li></ul></ul><ul><ul><li>Cost per win/Cost per sales-ready lead </li></ul></ul><ul><ul><li>Etc. </li></ul></ul>
  8. 8. Marketing’s Opportunity & Responsibility <ul><li>82.5% are ready to buy or will buy </li></ul><ul><li>70% are long-term opportunities – Marketing Territory </li></ul>An estimated 70-90% of leads generated by marketing are never followed-up with by sales Source: MarketingSherpa
  9. 9. Leaky Sales Funnel Increases Customer Acquisition Costs Mature Marketing Processes Close the B2B Lead Management Gap
  10. 10. So…Marketing’s Role Has to Change <ul><li>Need to be “lead developers” not just “lead generators” </li></ul><ul><ul><li>Generate </li></ul></ul><ul><ul><li>Capture </li></ul></ul><ul><ul><li>Qualify/Score </li></ul></ul><ul><ul><li>Distribute </li></ul></ul><ul><ul><li>Nurture </li></ul></ul><ul><ul><li>Report </li></ul></ul><ul><li>Need to focus on Metrics and Accountability </li></ul>
  11. 11. Keys to Maximizing the Sales Lead Process <ul><li>Common definition of a “lead” </li></ul><ul><li>Scoring leads – assigning priorities </li></ul><ul><li>Timely lead routing and follow up by sales </li></ul><ul><li>Automating the lead nurturing process </li></ul><ul><li>Measuring marketing effectiveness </li></ul>
  12. 12. What is a Lead? <ul><li>White Paper Download </li></ul><ul><li>Tradeshow Attendee </li></ul><ul><li>Webinar Attendee </li></ul><ul><li>Web Site Inquiry </li></ul><ul><li>Etc. </li></ul><ul><li>Has B udget allotted </li></ul><ul><li>Has A uthority to purchase </li></ul><ul><li>Has a N eed that we solve </li></ul><ul><li>Has defined purchase T imeframe </li></ul>Agreed upon Lead Qualification Definition Suspect, Prospect or Lead?
  13. 13. Score Leads Based on Sales Readiness <ul><li>Clearly defining “sales ready” results in less lead waste </li></ul><ul><li>Ensure both sales and marketing agree on definition to align goals </li></ul><ul><li>Requirement: Lead Scoring based on: </li></ul><ul><ul><li>Budget </li></ul></ul><ul><ul><li>Authority </li></ul></ul><ul><ul><li>Needs </li></ul></ul><ul><ul><li>Timeframe </li></ul></ul><ul><ul><li>Size </li></ul></ul><ul><ul><li>Profile </li></ul></ul><ul><ul><li>Email/Web Behavior </li></ul></ul>Route to Strategic Sales Nurture Discard 1 2 3 Route to Inside Sales 2 Lead Definition Sales Ready Now High Score Unqualified Low Score
  14. 14. Lead Scoring- Explicit Data <ul><li>Defines the right lead based on your target market segment </li></ul><ul><li>Scoring performed on a unified database to ensure consistency across all leads </li></ul>
  15. 15. Lead Scoring- Implicit Data <ul><li>Scores Activity </li></ul><ul><li>Recency and frequency scores with automated discounts </li></ul><ul><li>Apply points for important interactions indicative of interest </li></ul>
  16. 16. <ul><li>Using lead scoring, map communications to prospect’s buying cycle with agreed-upon action plans </li></ul>Interaction Create Interest- Whitepaper Edu-sell communications- Case Studies Purchase and Validate- Free Trial, Discount Offers 1 3-X X+ Consider Solutions- Webinars & Demo 2 Lead Scoring - Now What? Search for Solutions Evaluate Solutions Recognize Need Justify Solution Purchase Evaluate Decision
  17. 17. Routing: Ensure Follow-up Within 48 Hours <ul><li>Over 7x improvement in sales if leads are responded to within 48 hours </li></ul><ul><li>The likelihood of reaching a prospect on a follow-on call goes down by 90% within one week from the initial inquiry </li></ul><ul><li>Automate lead routing decreases follow-up times </li></ul>*Vtrenz Marketing Research Survey 2005 Communication Effectiveness % Reaction Time In Days 1 2 3 4 5 6 7 20% 40% 60% 80% Slow reaction time, decreases response effectiveness Florida Lead East Sales Rep Nebraska Lead Central Sales Rep California Lead West Sales Rep
  18. 18. What is Lead Nurturing <ul><li>Leveraging a series of communications to maintain ongoing contact with prospects identified as not yet ready to make a purchase </li></ul><ul><ul><li>Keeps your prospects engaged throughout buying process </li></ul></ul><ul><ul><li>Provides opportunity for more relevant and timely communications </li></ul></ul><ul><ul><li>Improves ROI of marketing spend by ‘plugging the leaks’ in lead management </li></ul></ul>
  19. 19. Utilize Rules-Based Marketing to Eliminate “One and Done” Marketing <ul><li>Understand your sales cycle and map your communications to your sales cycle </li></ul><ul><li>Leverage a rules-based marketing engine to set-up and deliver multi-track, multi-touch, multi-channel communications </li></ul>Well-executed multi-channel marketing campaigns generate a sales lift ranging from 7-34%. Source: Internet Advertising Bureau
  20. 20. ControlScan’s Typical Drip Campaign Campaign Objectives: Increase compliance rate for Partner’s merchants and the marketing team’s productivity Bring in campaign members based on defined criteria Email #1 Intro to program Direct Mail #1 Intro to program Email #2 Reminder Direct Mail #2 Reminder Email #3 Reminder Outbound Call Campaign Contact removed from campaign once compliance is achieved 2 weeks 2 weeks 2 weeks 1 week 2 weeks 2 weeks Achieved 14% compliance rate in 2 month pilot – average compliance rate is typically ~1% - in one year! 2-3 touch points within first month
  21. 21. Drip Campaign Contents Email #1 Email #3 Email #2 Call to actions became increasingly more urgent. All action is directed to the Partner’s microsite.
  22. 22. Drip Campaign Contents Direct Mail Content
  23. 23. Drip Campaign Contents Campaign Microsite Call to action is to enroll in mandatory program.
  24. 24. Lead Nurturing Tip #1 <ul><li>Communicate </li></ul><ul><li>Keep your company top-of-mind as prospects move through the buying cycle </li></ul><ul><li>Contact everybody at least once </li></ul><ul><ul><li>Do not let prospects go an entire sales cycle without having received a touch </li></ul></ul><ul><li>Offer prospects the opportunity to identify themselves as “ready to buy” </li></ul>
  25. 25. Message Creation <ul><li>Know Your Audience and Ask Yourself </li></ul><ul><li>How can we build credibility with our prospects </li></ul><ul><li>How can we show that our products/services will help them achieve their goals </li></ul><ul><li>How can we differentiate ourselves from our competitors </li></ul><ul><li>Become a trusted advisor/expert to your prospects </li></ul>
  26. 26. Lead Nurturing Tip #2 <ul><li>Engage in Meaningful Two Way Conversations </li></ul><ul><li>Cut through the “noise” and be relevant </li></ul><ul><li>Send communications that include questions with several possible answers </li></ul><ul><ul><li>Base subsequent communications on these answers for increased message relevancy </li></ul></ul>
  27. 27. Lead Nurturing Tip # 3 <ul><li>Target High-Potential Leads </li></ul><ul><li>Hone your targeting </li></ul><ul><li>Offer value </li></ul><ul><ul><li>Whitepaper relevant to an indicated area of interest </li></ul></ul><ul><ul><li>Webinar invite to a topic of interest </li></ul></ul><ul><li>Know your own criteria </li></ul><ul><ul><li>Have clearly defined criteria to know exactly when you want to push a lead to sales </li></ul></ul>
  28. 28. Usher the Lead Through the Sales Cycle Lead Nurturing supports all stages of the lead management process Marketing Qualified Inquiries Sales Qualified Sales Accepted Impressions Marketing Sales New Business
  29. 29. Stay Involved <ul><li>Avoid lead waste </li></ul><ul><li>Have processes in place ready to fold a lead back into the nurturing cycle if necessary </li></ul>
  30. 30. Summary <ul><li>Effective lead nurturing </li></ul><ul><ul><li>Communicate! </li></ul></ul><ul><ul><ul><li>Know your audience </li></ul></ul></ul><ul><ul><li>Have two way conversations to add relevance </li></ul></ul><ul><ul><li>Further hone your targeting </li></ul></ul><ul><ul><ul><li>Craft communications that add value, not more noise </li></ul></ul></ul><ul><ul><li>Identify the criteria you want to use to bubble nurtured leads to sales once they become Hot </li></ul></ul><ul><ul><li>Have a plan </li></ul></ul><ul><ul><ul><li>Identify a process to fold leads back into the nurturing process if necessary </li></ul></ul></ul>And focus on converting the 70 percent long-term leads, to near-term opportunities!
  31. 31. Q & A <ul><li>Follow Me </li></ul><ul><ul><li>Twitter – LorenMcDonald </li></ul></ul><ul><ul><li>Columnist </li></ul></ul><ul><ul><ul><li>Media Post - Email Insider </li></ul></ul></ul><ul><ul><ul><li>MarketingProfs GetToThePoint </li></ul></ul></ul><ul><ul><ul><li>Many others… </li></ul></ul></ul><ul><ul><li>Blogs </li></ul></ul><ul><ul><ul><li>Silverpop – “Tales” </li></ul></ul></ul><ul><ul><li>Newsletters </li></ul></ul><ul><ul><ul><li>Digital Marketer </li></ul></ul></ul><ul><li>Contact: </li></ul><ul><ul><li>Loren McDonald </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul>www.silverpop.com www.vtrenz.com

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