Simple Tactics for Shortening your Sales Cycle and Improving ROI

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Simple Tactics like Lead Tracking, Lead Qualification and sales alerts definitively shorten the sales cycles for B2B technology sales executives. Additionally nurturing early stage prospects lowers the overall CPO.
This presentation was given at NetSuite's SuiteWorld user's conference.

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  • I want to start off real quick and touch on the current state of the B2B space. It seems that  things have started to pick up after the “recession” and B2B marketing budgets are expected to grow 6.7% in 2011 according to a Q4 survey by Forrester. But, with the budget increase comes more scrutiny and greater expectations for results. Marketers need to quantify their efforts and produce actual metrics that show value of these campaigns. Often, this means tracking leads from generation to sale to show a return on investment. Meaning, there’s more pressure on the sales team to speed through the long, complex B2B sales cycle to close more deals.
  • It’s a battle as old as time – Marketing And Sales seem to be frenemiesThe best solution here is to get the sales and marketing departments working together. And this can be pretty difficult given that as high as 80% of leads never have a meaningful conversation with a salesperson according to estimates by MarketingSherpa and Forrester. This explains why marketers and sales are always at odds - marketing thinks sales doesn’t followup with enough leads and sales thinks the leads are poor. With objective lead qualification, marketing can assign only the best leads to sales - resulting in a shorter sales cycle that improves overall ROI. This unified pipeline breaks down the communication barrier can be broken down and streamlines the efforts of the two departments.
  • So, what is marketing automation? And, how can it help us achieve our goal of shortening the sales cycle and improving ROI?Marketing automation is a software solution that integrates with your CRM - NetSuite - and gives you prospect insight along with prospect management. The solution you choose can be a Suite Flex Solution that seamlessly syncs. By integrating NetSuite with marketing automation, you can track the activities of all inbound leads and qualify them based on the levels of interest and intent. All leads assigned to sales will have a score and grade to indicate the quality of the lead and the lead’s location in the buying process. The salesperson can then initiate contact or educate the prospect through lead nurturing and engage at a later point in time.
  • Summary of tactics and how they can help reach key goals:Shorten the sales cycleIncrease ROI
  • Simple Tactics for Shortening your Sales Cycle and Improving ROI

    1. 1. Simple Tactics forShortening Your Sales Cycle and Improving ROI<br />Presented by: Derek Grant<br />
    2. 2. The State of B2B Today<br />Budgets are back… BUT…<br />…marketers are being held more accountable for spending.<br />
    3. 3. Sales and Marketing at Odds<br />You never follow up on leads I produce!<br />That’s because your leads are no good!<br />When Sales and Marketing play the blame game, no one wins.<br />
    4. 4. The Funnel Before the Funnel<br />Sales + Marketing =<br /><ul><li>Increased ROI
    5. 5. Shorter Sales Cycle
    6. 6. Happier boss</li></li></ul><li>The Sales Paradigm Is Shifting<br />Would you buy from this person?<br />
    7. 7. The Sales Paradigm Is Shifting<br />The Buying Paradigm has shifted<br /><ul><li>Buyers perform research prior to engagement
    8. 8. Forrester Research – 80% of all leads passed to sales are mis-handled
    9. 9. 70% of mis-handled leads buy from a competitor</li></li></ul><li>The Sales Paradigm Is Shifting<br />Marketing must change too.<br />Don’t just throw prospects over the fence<br />
    10. 10. Mending the Relationship<br /><ul><li>Define a quality lead
    11. 11. Use lead nurturing
    12. 12. Make educated sales calls
    13. 13. Measure results</li></li></ul><li>Service Level Agreement<br /><ul><li>Marketing Commits to send over only objectively “Qualified” leads
    14. 14. Sales commits to contacting all of them
    15. 15. Meetings or reports show a disposition
    16. 16. Everyone is singing off the same sheet of music</li></li></ul><li>Qualified Leads<br /><ul><li>Define lead criteria
    17. 17. Use scoring to assess interest vs. intent
    18. 18. Use grading to find the right fit
    19. 19. Only the leads that fit your criteria go to sales
    20. 20. Leads with a good grade but a low score go on a nurturing track</li></li></ul><li>Nurture Early Stage Prospects<br /><ul><li>Delivering relevant content to prospects
    21. 21. Nurturing moves the recipient forward
    22. 22. Push vs. Pull
    23. 23. Aberdeen Group – 80% of best in class companies nurture</li></li></ul><li>Do’s and Don’ts<br />DO<br />Don’t<br /><ul><li>“Nurture” your entire database
    24. 24. Send “one size fits all” content
    25. 25. Assume that Newsletters nurture
    26. 26. Do it Manually</li></ul>Do<br /><ul><li>Use Segmentation & Personas
    27. 27. Start with the End in Mind
    28. 28. Be Mindful of Timing
    29. 29. General to Specific
    30. 30. Send the Same Content Multiple Times</li></li></ul><li>How Nurturing Increases ROI<br /><ul><li>Recycling leads you’ve already paid for
    31. 31. Reducing Sales Rep engagement</li></ul>Nurturing plugs the hole in your funnel.<br />
    32. 32. More Effective Sales Calls<br /><ul><li>Use prospect’s past activity to shape the pitch
    33. 33. Strike when the time is right</li></ul>Look for clues that reveal a prospect’s needs.<br />
    34. 34. More Effective Sales Calls<br /><ul><li>Which marketing materials were viewed (pain points)
    35. 35. Which pages were visited – features, products, benefits
    36. 36. Search Terms (internal and external)
    37. 37. Number of Visits
    38. 38. Which emails were opened </li></li></ul><li>More Effective Sales Calls<br />Automated Sales alerts for perfect timing.<br />
    39. 39. Measure Results<br />With the sales and marketing pipelines connected, marketing has more visibility into which tactics work.<br />
    40. 40. Sample Marketing Metrics<br />Number of qualified leads (leads assigned to sales)<br />Marketing contribution to the sales pipeline (dollar value)<br />
    41. 41. Marketing Automation ROI<br />Marketing Automation<br />No Marketing Automation<br />1,000<br />2,000<br />85%<br />3.9%<br />850<br />78<br />5%<br />58%<br />45<br />40<br />11%<br />49%<br />5<br />22<br />18%<br />23%<br />5<br />1<br />Source: Sirius Decisions<br />
    42. 42. What have we learned?<br />Tactics for Success<br /><ul><li>Qualify leads
    43. 43. Use lead nurturing
    44. 44. More targeted sales calls
    45. 45. Unify metrics for success</li></li></ul><li>Questions?<br />
    46. 46. No Hassle Marketing Automation<br />Pardot is a user-friendly, month-to-month solution designed to simplify online marketing for B2B companies with a complex sales cycle. Pardot integrates seamlessly with your NetSuite CRM solution.<br />Please feel free to contact us with any additional questions you may have.<br />www.pardot.com<br />
    47. 47. Pardot<br />950 East Paces Ferry Rd<br />Suite 3300<br />Atlanta, Georgia 30326<br />Derek Grant<br />VP of Sales<br />derek.grant@pardot.com<br />404.492.6848<br />877.3B2B.ROIwww.pardot.com<br />

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