How LeadMD Doubled Qualified Leads & Opportunities Using Predictive Marketing
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The idea of too many leads is a dream for most sales and marketing teams. But if your team can’t laser-focus on your optimal audience to drive conversion in your pipeline, that dream quickly turns to a nightmare. In this deck, you'll learn: 1. What are Predictive Analytics? 2. How can you benefit from Predictive Marketing? • Define the buyer • Understand the actions that lead to purchase/win • Replicate: Rinse, repeat 3. What are the simple next steps to get started?
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How LeadMD Doubled Qualified Leads & Opportunities Using Predictive Marketing
- 1. ©2015 EverString How LeadMD Doubled Qualified Leads & Opportunities through Predictive Marketing Justin Gray – CEO, LeadMD Jim Walker – VP Marketing, EverString
- 2. ©2015 EverString Thank you! 2 JUSTIN GRAY Founder & CEO @jgraymatter Leadmd.com JIM WALKER VP of Marketing @jaymce Everstring.com
- 3. ©2015 EverString Why are we here? 1. What is Predictive Analytics? 2. How can you benefit from Predictive Marketing? Define the buyer Understand the actions that lead to purchase/win Replicate: Rinse, repeat 3. What are the simple next steps to get started? 3
- 4. ©2015 EverString 4 Predictive analytics encompasses a variety of statistical techniques from modeling, machine learning, and data mining that analyze current and historical facts to make predictions about future, or otherwise unknown, events.
- 5. ©2015 EverString Solving two problems for B2B marketers Too few prospects How do I get more? How do I fill my pipeline with net new high quality leads and accounts? Too many prospects Where do I start? How do I prioritize my leads and accounts so I can be more efficient?
- 6. ©2015 EverString Predictive starts with Audience Selection 6 A A A A A B Predictive starts with Audience Selection The process of using data to identify your target accounts Model your best customer and derive targets from all accounts in the world B B CD C CC D C C C CC D C CC DD C C DC D C C D C D C CC C D DC DC D C A A
- 7. ©2015 EverString Finding Value in Predictive Marketing Efficiency Use audience segments to optimize call down programs with SDR or Inside Sales Use account based audience selection to segment and tier prospects to optimize marketing spend Develop objective buyer and account personas 7 Acceleration Fill top of funnel with net new, high quality accounts and leads Shift programs form TOFU fill to MIFU acceleration Create additional reporting and metrics around velocity and depth Alignment Align marketing with sales around accounts Create efficient ABM strategy to run along side traditional demand generation program
- 8. ©2015 EverString Building EverString Account Insights EverString curates data and insights on over 11M accounts worldwide Basic Insights Advanced Insights Predictive Insights 8 EverString collects & curates terabytes of information internet commercial sources crawl pixels ip traffic Data Science Machine Learning Natural Language Processing Artificial Intelligence 20KInsightsperAccount EverString Account Insights 11M Accounts
- 9. ©2015 EverString EverString integrates with your existing marketing tech stack to build your customer model We create a model using your CRM and Marketing Automation data using closed won and lost information Model creation is automated in order to protect you from drift & maintain accuracy 9 Marketing Automation CRM Push Button Integration Decision Platform Your Data, Your Model Audience Selection 20KInsightsperAccount EverString Account Insights 11M Accounts With push button integrations, we ingest you marketing automation and CRM data without need for custom work or services
- 10. ©2015 EverString EverString delivers scores, net new accounts and leads to your CRM and marketing automation tools We apply your model against our data to perform audience selection, scoring for fit, engagement and intent. We deliver scores and net new accounts and leads to your CRM and Marketing Automation system 10 Marketing Automation CRM Decision Platform Your Data, Your Model Audience Selection Scores Net New Prospects 20KInsightsperAccount EverString Account Insights 11M Accounts Push Button Integration
- 11. ©2015 EverString EverString Decision Platform Provides the foundation on which value is provided including: • Push Button Integration • Expertise and knowledge of EverString Predictive Labs • Access to build Target account lists from our master list • Cloud based big data infrastructure Full funnel application of predictive technology 11 Only predictive solution to use data to provide value throughout the ENTIRE prospect to customer journey
- 12. ©2015 EverString Who is LeadMD? Top tiered Marketo Preferred Partner Why we specialize in Marketo 2500 + engagements Early adopters – started out as a marketing automation agency NOT as a digital marketing agency. 30 + Certified experts
- 13. ©2015 EverString LeadMD: A leader in digital marketing consulting
- 14. ©2015 EverString What We Know FIRMOGRAPHIC What is this? Field Based Data Latency Issues Quality Issues BEHAVIORAL What is this? Interactions Engagement Content Fallacy DECONSTRUCTED What is this? “In Head” Data Subject to Prejudice Subjective / Biased
- 15. ©2015 EverString Three Core Data Sets Psychological Demographic Behavioral
- 16. ©2015 EverString THE PROOF Unlock the hidden dimension of your lead & align your resources for the best experiences. A = Goes to Sales B = BDR C = Off to Marketing D = Off to Marketing
- 17. ©2015 EverString THE RESULTS 5XOpportunity Lift from Better Understanding of Buyers
- 18. ©2015 EverString Key Findings A purely behavioral model (Lead Scores) predicts only 2% of the variance in amount purchased by buyers (mildly predicts buyer commitment, but not spending) Adding demographic & psychological data bump lead scoring up to 85%. This is HUGE.
- 19. ©2015 EverString Company Data Account level data allows us to define the universe
- 20. ©2015 EverString Company Data Account level data allows us to define the universe Top insights
- 21. ©2015 EverString
- 22. ©2015 EverString Lead Generation Total addressable market (TAM) is a term that is typically used to reference the revenue opportunity available for a product or service. 22 An Ideal Customer (ICP) Profile is a set of customers that includes: Demographic Geographic Psychographic characteristics As well as buying patterns, Creditworthiness Purchase history A buyer persona (IBD) or an account persona is a detailed profile of your ideal buyers based on market research and real data about your actual clientèle. The more detailed your personas are, the more results they’ll yield.
- 23. ©2015 EverString Extremely knowledgeable who’s personality differs based on her organization • 60% of buyers • Guards her “island” and is most cautious. • Doesn't want a long term engagement. • Most purchasing authority • Always looking for “gotchas” so be on your game Rising RitaEntrenched Edward Startup Sue Young up and comer in a rising institution • 15% of buyers • Least time at position • Replacing the old guard's contractual relationships. • Aspiring to be the best of the best • A bit arrogant, but smart, ultimately an influencer you want on your side Tenured Exec with the same lead manager doing the same thing and is bored to death • 20% of buyers • Most time at position • They want something short and impactful • High budget control, can be a third party consultant Young, aggressive & looking for love • 5% of buyers • Most tech literate • Lowest revenue, smallest firm, influencer level • A marketing unicorn who does a little bit of everything • A great partner for a long lasting business relationship Poly Pam Meet the buyers
- 24. ©2015 EverString The Role of Content Show how persona’s drive: Ideation Alignment Creation Execution Analytics
- 25. ©2015 EverString The Ultimate Content Outcome Creating a home for your content, driven by best practices based on what your buyers are looking for
- 26. ©2015 EverString How to get started Look inside, Define your success what is success for you? For LMD it was opp creation. What is it for you? Opp close? Mql-sql handoff? Retention? Database doesn’t have to be perfect. More data the better. Don’t worry about lead scoring first. Uncover true best buyer today. 26
- 27. ©2015 EverString What are we testing? What Lead Sources desire different plays? Building ‘Products’ tailored to Personas Aligning sales via Persona Aligning Consultants via personality exam
- 28. ©2015 EverString Takeaways 1. Use predictive not just for value in the immediate, but to start a deeper conversation 2. Defining the right buckets creates deeper alignment and instruments efficiency 3. Align your team for account based v traditional demand generation 28
- 29. ©2015 EverString Thank you! 29 JUSTIN GRAY Founder & CEO @jgraymatter Leadmd.com JIM WALKER VP of Marketing @jaymce Everstring.com
Editor's Notes
- Almost every marketer we talk with feels like they have one of two problems -- they either have too many leads or not enough. If they have low lead volume or already follow-up on every single lead, the focus is on how to build more pipeline. If they have too many leads, their main challenge is prioritization. Many organizations struggle to find out how to categorize and become more efficient with limited resources. While predictive marketing can help with both challenges it is broadly applicable throughout the pipeline, regardless of the initial problem it helps solve. More often than not, if a company has too many leads, they will always want more. It s a great problem to have, but again, an efficient qualitative approach to addressing it is key. Prioritizing and identification of the highest value opportunities with a high propensity to buy can make you a hero to sales.
- So what is Predictive Marketing? Ultimately, it can be boiled down to a fairly simple concept. Use your historical internal data combined with the universe of external data to predict who your next customer should be. The value of Predictive Marketing starts with Audience Selection, which is the process of not only understanding your model or best fit customer, but ultimately looking at every potential customer in your market to choose your audience. Predictive Marketing enables you to have a point of view one every single potential account in your market, and we then help you prioritize and select your optimal audience. This is a critical concept and is the baseline for Predictive Marketing. At EverString, our entire focus is driven by this single concept. We hire the best data scientists and collect and curate massive amounts of data in order to make sure that your models and ultimately, the accounts and leads we deliver to you are the best in the business. This is our singular focus.
- LeadMD Overview – Top tiered Marketo Preferred Partner Why we specialize in Marketo 2500 + engagements Early adopters – started out as a marketing automation agency NOT as a digital marketing agency. 30 + Certified experts
- Issues with Data we can see: Marketers base models off data they know is crap Behavioral data often simply indicates good content Deconstructed data is subjective The best data comes from conversations with people in the know CRM data is degrading the moment we enter it CRM is like Jazz
- [VINCENT} Demographic: Company Fit Score Behavioral : Engagement Psych: Intent
- We must look at multiple dimensions to get a true picture. Most PLS vendors only look at one dimensions ----- Meeting Notes (3/20/15 16:23) ----- Fit Score Engagement Score Intent Score
- Right Message, right time, right fit Traditional marketers are looking to scale system but marketers are only using the tool to do more of the same – not to scale segmentation and better messages
- This is the proof of the entire hypothesis – traditional lead scoring doesn't’t work, because it’s far to one dimensional. This proves that predictive modeling is not a graduation point – it is the only reliable way to “score” leads and customers
- Let’s take a look at some of the indicators Most common ask here is “give us a list’ – even we asked that They make no sense on their own It’s about the relationship of data points, not the points themselves If someone is in Rhode Island does not make them a great buyer If someone is in Rhode Island, who has Marketo, who has a good Marketing spend, who was on our pricing page in the last 30 days and has signed up for our best practices series who JUST searched for marketing automation consultants – THAT’S the hidden treasure.
- Let’s take a look at some of the indicators Most common ask here is “give us a list’ – even we asked that They make no sense on their own It’s about the relationship of data points, not the points themselves If someone is in Rhode Island does not make them a great buyer If someone is in Rhode Island, who has Marketo, who has a good Marketing spend, who was on our pricing page in the last 30 days and has signed up for our best practices series who JUST searched for marketing automation consultants – THAT’S the hidden treasure.
- Color the inner circles in Label the Account Personas as such Surrounded by a buying committee Do you have the entire icp in your database? 55% coverage 100 % What’s an ideal buyer persona What’s the differences in Two dimensions, the individual, who they are, what level they are at, what their role is, the distance from purchasing power How much autonomy to make that decision, if they have to bring in that many people. it, the distance in buying power? Doesn’t align to industry The person and their distance to purchasing power
- We will do a run down here on the results. It will remain high level.
- If the buyer works like this, what do you do? Gallery, in sales insight, new piece of content, everyone
- If the buyer works like this, what do you do? Gallery, in sales insight, new piece of content, everyone
- Discuss what we are testing now. Products aligned to personas Sales teams assigned via persona Consultants assigned Tailored Sales plays Persona based nurture through MKTO persona assignement Post opp survey