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The Advocate Effect: How internal & external advocates can accelerate deal velocity & conversion

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Presentation deck from June 15, 2017 Influitive Customer Marketing Summit

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The Advocate Effect: How internal & external advocates can accelerate deal velocity & conversion

  1. 1. The Advocate Effect: How Internal & External Advocates can Accelerate Deal Velocity & Conversion Matt Heinz President, Heinz Marketing Inc @heinzmarketing 1
  2. 2. Housekeeping • Feel free to madly scribble notes, but you can also have a copy of this deck • You can also have (for free!) copies of: • The Modern Marketer’s Field Guide • Our Referral Marketing Benchmark Study • My award-winning* bacon recipe • Just send email to matt@heinzmarketing.com noting what you want 2
  3. 3. This stuff works! • According to a Heinz/Influitive study of 640 referral program managers: • 40 percent of leads come from referrals • 2X increase in referral lead volume over 12 months • 69 percent report faster time to close • 59 percent report higher lifetime value • 71 percent report higher conversion rate 3
  4. 4. Referral programs = greater sales/marketing effectiveness
  5. 5. Two Keys to Higher Performance • Marketing manages the program • 3X more likely to achieve revenue goals • Formal tools are in place • 3X more likely to accelerate creation & conversion Only 22 percent of companies have these in place!
  6. 6. Companies with formal referral programs come out on top:
  7. 7. From the front lines… • 56 percent of sales reps deem referrals “very important” • 68 percent of reps with formal referral programs rated their referral tools as effective or highly effective • Vs 40 percent of those without formal programs • 45 percent of reps with a referral program expect their closed deals to increase in the next 12 months • 47 percent of those without a referral program expect their sales to remain flat
  8. 8. The impact for larger companies • Among companies with formal referral programs and 200+ employees: • 87 percent reported highly effective sales efforts • Vs 42 percent without referral programs • 67 percent reported highly effective pipelines • Vs 36 percent without referral programs • Nearly 4X more likely to have a “very involved” marketing department in referral activities • 58 percent vs 15 percent
  9. 9. The impact for larger companies Among companies with 200+ employees:
  10. 10. Six Elements to Creating Your Own Advocacy & Referral Program 1. Community 2. Customer Channels 3. Content 4. Context 5. Collaboration 6. Infrastructure
  11. 11. How do you get more advocates & referrals? Get ready for the speed round…. 11
  12. 12. Scripts & practice 12
  13. 13. NEVER used the LinkedIn tool 13
  14. 14. Read Joanne Black 14
  15. 15. Read To Sell Is Human 15
  16. 16. Use value-added assets for intros 16
  17. 17. Make yourself more shareable 17
  18. 18. Use every department in your org (and theirs) 18
  19. 19. Be more aggressive with LinkedIn connections 19
  20. 20. Be precise about requests 20
  21. 21. Be more generous 21
  22. 22. Write thank you notes 22
  23. 23. Leave voicemails 23
  24. 24. Follow up 24
  25. 25. Be synonymous with something specific 25
  26. 26. Daily Tools 26
  27. 27. Use excuses to reach out 27
  28. 28. Respond to EVERY birthday message 28
  29. 29. Lead with problems you solve (NOT what you do) 29
  30. 30. Housekeeping • You can also have (for free!) copies of: • The Modern Marketer’s Field Guide • Our Referral Marketing Benchmark Study • My award-winning* bacon recipe • Just send email to matt@heinzmarketing.com noting what you want 30
  31. 31. Thank You! Matt Heinz President, Heinz Marketing Inc @heinzmarketing matt@heinzmarketing.com 31

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