Building Detailed Marketing Profiles to Drive Better Sales

1. Building Detailed Marketing Profiles to Drive Better Sales Juliann M. Grant, Vice President Telesian Technology Inc. [email_address] 978-681-1600 Scott Sommer, Automation Technology Manager Jacobs [email_address] (610) 731-1010

2. This Year’s Marketing & Summit Theme: In Search of the Holy Grail: Integrating Marketing and Sales Integrating Marketing & Sales Through: Marketing Profiles  Better Sales

3. But Searching for the Holy Grail Has Never Been Easy…

4. Is there someone else we can talk to… <ul><li>Juliann and Scott’s quest for the Holy Grail: </li></ul><ul><li>Challenges in Getting Messages Heard </li></ul><ul><li>Creating Detailed Customer Profiles </li></ul><ul><li>Integrating the Message into Marketing </li></ul><ul><li>Moving the Message to Sales </li></ul><ul><li>Amplifying the Message </li></ul><ul><li>Translating the Message </li></ul><ul><li>Extending the Message </li></ul><ul><li>Alignment of Marketing and Sales </li></ul>

5. <ul><li>Part 1 </li></ul><ul><li>Challenges in Getting the Message Heard </li></ul>

6. 1 in 10 Email Noise Factor How do you get heard?

7. Social media noise Network ≠ Reach

9. Market segmentation <ul><li>Traditional: </li></ul><ul><ul><li>Industry/SIC code </li></ul></ul><ul><ul><li>Business category </li></ul></ul><ul><ul><li>Geography </li></ul></ul><ul><ul><li>Product category (what it is – flow meter, laser system) </li></ul></ul><ul><li>Problem: Customers/buyers don’t think this way unless… </li></ul><ul><ul><li>They know exactly what they are looking for </li></ul></ul>

10. New segmentation <ul><li>Focus on the job the product does </li></ul><ul><ul><li>People don’t want to buy a quarter-inch drill. They want a quarter-inch hole </li></ul></ul><ul><li>Profiles are built around product features, customer types, not customer needs </li></ul>

11. Customer profiles lacking <ul><li>Only know the basics </li></ul><ul><ul><li>Typical demographics </li></ul></ul><ul><ul><li>Product type purchased </li></ul></ul><ul><ul><li>Customer vs. prospect </li></ul></ul><ul><li>Need to know </li></ul><ul><ul><li>Needs </li></ul></ul><ul><ul><li>Behaviors </li></ul></ul><ul><ul><li>Actions taken </li></ul></ul><ul><ul><li>Qualitative and quantitative info </li></ul></ul>

12. <ul><li>Part 2 </li></ul><ul><li>Creating Detailed Customer & Prospect Profiles </li></ul>

14. Building a profile <ul><li>Start with the basics </li></ul><ul><ul><li>Professional Information </li></ul></ul><ul><ul><ul><li>Company, title/functional role </li></ul></ul></ul><ul><ul><li>Demographics </li></ul></ul><ul><ul><ul><li>Geography, gender, age, industry, business size </li></ul></ul></ul><ul><ul><li>Products purchased </li></ul></ul><ul><ul><ul><li>What was bought, price, timeframe of purchase </li></ul></ul></ul><ul><ul><li>Sales info </li></ul></ul><ul><ul><ul><li>Sales personnel, sales cycle duration </li></ul></ul></ul><ul><ul><li>Lead source origin </li></ul></ul><ul><ul><ul><li>Marketing and sales outreach </li></ul></ul></ul>

15. Add more layers: Quantitative details <ul><li>What actions were taken before they bought? </li></ul><ul><ul><li>Web site statistics </li></ul></ul><ul><ul><ul><li>Forms completed </li></ul></ul></ul><ul><ul><ul><li>Downloads </li></ul></ul></ul><ul><ul><ul><li>Event registrations </li></ul></ul></ul><ul><ul><ul><li>Subscriptions </li></ul></ul></ul><ul><ul><ul><li>Social media interactions </li></ul></ul></ul><ul><ul><ul><li>Activity on web site </li></ul></ul></ul><ul><ul><ul><ul><li>Entry/exit pages, referral pages, search terms, duration, frequency of visits, conversions </li></ul></ul></ul></ul><ul><ul><li>Where else did they acquire information? </li></ul></ul><ul><ul><ul><li>Web sites, articles, peers </li></ul></ul></ul>

16. Add more layers: Qualitative details <ul><li>Behavioral and attitudes </li></ul><ul><ul><li>Why did they buy? </li></ul></ul><ul><ul><ul><li>Trigger event? </li></ul></ul></ul><ul><ul><ul><li>Identify driving need - win/loss data – replacement tech? innovation? </li></ul></ul></ul><ul><ul><ul><li>Professional goals </li></ul></ul></ul><ul><ul><li>Sphere of influence </li></ul></ul><ul><ul><ul><li>Buying team participants and relationship </li></ul></ul></ul><ul><ul><ul><li>First time or recurring customer? </li></ul></ul></ul><ul><ul><ul><li>Likely to make recommendations? </li></ul></ul></ul>

17. More qualitative details <ul><li>Satisfaction level </li></ul><ul><ul><li>Overall buy experience </li></ul></ul><ul><ul><ul><li>Did they feel they had enough information in process </li></ul></ul></ul><ul><ul><ul><li>Did the web site provide detail needed </li></ul></ul></ul><ul><ul><ul><li>Did sales provide detail needed </li></ul></ul></ul><ul><ul><ul><li>Any hiccups in the sales process </li></ul></ul></ul><ul><ul><li>Most useful information </li></ul></ul><ul><ul><ul><li>What was the most useful information provided during the buy process? </li></ul></ul></ul>

18. Develop buyer profiles <ul><li>Common groupings of information </li></ul><ul><ul><li>Trigger events </li></ul></ul><ul><ul><li>Reasons for purchase </li></ul></ul><ul><ul><li>Information gathering paths </li></ul></ul><ul><ul><li>Web site behaviors </li></ul></ul><ul><ul><li>Attitudes and goals </li></ul></ul><ul><ul><li>Industry trends </li></ul></ul>

19. How to get info? <ul><li>Start with what you have </li></ul><ul><li>Build as you go </li></ul><ul><ul><li>Campaign metrics </li></ul></ul><ul><ul><li>Win/loss studies </li></ul></ul><ul><ul><li>Customer surveys </li></ul></ul><ul><ul><li>Usability surveys </li></ul></ul><ul><li>Need a database (MS Access, Filemaker Pro) </li></ul>

20. <ul><li>Part 3 </li></ul><ul><li>Integrating Profiles into Marketing Campaigns </li></ul>

21. #1: Build learning experiences <ul><li>Prospects </li></ul><ul><ul><li>Focus on buy cycle stages </li></ul></ul><ul><ul><ul><li>Early stage: Technology sizzle, what’s different </li></ul></ul></ul><ul><ul><ul><li>Mid stage: Why you’re better than competitors </li></ul></ul></ul><ul><ul><ul><li>Close stage: Build confidence in their decision to choose you </li></ul></ul></ul><ul><li>Customers </li></ul><ul><ul><li>Focus on after sale activities </li></ul></ul><ul><ul><ul><li>New customers – Good service – Becoming a “customer” </li></ul></ul></ul><ul><ul><ul><li>Ongoing – Relationship building events, staying informed </li></ul></ul></ul>

22. Short order cook vs. a Chef Let’s start with an Appetizer….

23. #2: Create smaller, targeted campaigns <ul><li>Small is better: slice and dice data into small groups </li></ul><ul><ul><li>Prospects </li></ul></ul><ul><ul><ul><li>Break down into buy cycle stages and focus on key actions that progress sales cycle </li></ul></ul></ul><ul><ul><li>Customers </li></ul></ul><ul><ul><ul><li>Identify profile groupings that can have very targeted messages </li></ul></ul></ul><ul><ul><ul><ul><li>i.e., migration issues, expanding product footprint, functional challenges as it relates to product/service capabilities </li></ul></ul></ul></ul>

24. #3: Add Personalization <ul><li>Need to make communications relevant to audience </li></ul><ul><li>> 9,000 email messages to process annually </li></ul><ul><li>"By 2014 direct marketers will waste $144 million on emails that never reach their primary target. </li></ul><ul><li>Successful Direct Marketing pros will alter their tactics to overcome inbox clutter and increase relevancy." </li></ul><ul><li>Forrester Research Vice President and Principal Analyst David Daniels . </li></ul>

25. Personalization Response Rates Broudy and Romano study 144,000 Mailers B2B and B2C B/W static w/out personlization: .46% response rate

26. More about personalization <ul><li>Also known as “variable data” </li></ul><ul><li>An InfoTrends/CAP Ventures study found that campaigns using variable data strategies like personalization have up to: </li></ul><ul><ul><li>36% higher response rate </li></ul></ul><ul><ul><li>47% increase in repeat business </li></ul></ul><ul><ul><li>24% average order value increase </li></ul></ul><ul><ul><li>31% overall revenue profit increase </li></ul></ul><ul><li>http://www.infotrends.com </li></ul>

27. Multi-channel communications perform better

28. Try a pURL campaign <ul><li>pURL: Personalized URL </li></ul><ul><ul><li>Dynamic landing page </li></ul></ul><ul><li>Entire campaign is personalized for each recipient </li></ul><ul><ul><li>JuliannGrant.landingpage.com </li></ul></ul><ul><ul><li>Variable data options: </li></ul></ul><ul><ul><ul><li>Text </li></ul></ul></ul><ul><ul><ul><li>Links </li></ul></ul></ul><ul><ul><ul><li>Images </li></ul></ul></ul>

29. Multi-Channel pURL example <ul><li>Direct Mailers (2): </li></ul><ul><ul><li>Direct mailer </li></ul></ul><ul><ul><li>Oversized postcard </li></ul></ul><ul><li>Emails (2): </li></ul><ul><ul><li>Heads up Email </li></ul></ul><ul><ul><li>HTML Tickler Email </li></ul></ul><ul><li>PURL </li></ul><ul><li>Offers (2): </li></ul><ul><ul><li>Personalized promo item </li></ul></ul><ul><ul><li>2 white papers </li></ul></ul><ul><li>Thank you page </li></ul>

30. Initial Email <ul><li>Variable data elements </li></ul><ul><ul><li>male/ female image </li></ul></ul><ul><ul><li>contact first name </li></ul></ul><ul><ul><li>assigned sales rep </li></ul></ul><ul><ul><li>Company logo </li></ul></ul><ul><li>Goal: Set expectations about direct mailer to arrive </li></ul>Logo

31. Direct mailer – Prospect version <ul><li>Variable data elements </li></ul><ul><ul><li>male/ female image </li></ul></ul><ul><ul><li>contact first name </li></ul></ul><ul><ul><li>Logo </li></ul></ul><ul><ul><li>Customer type </li></ul></ul>

32. Direct Mailer – Customer Version <ul><li>Variable data elements </li></ul><ul><ul><li>male/ female image </li></ul></ul><ul><ul><li>contact first name </li></ul></ul><ul><ul><li>Logo </li></ul></ul><ul><ul><li>Customer type </li></ul></ul>

33. Email #2: Reminder <ul><li>Touch #3 </li></ul><ul><li>Variable data elements </li></ul><ul><ul><li>male/ female image </li></ul></ul><ul><ul><li>contact first name </li></ul></ul><ul><ul><li>assigned sales rep </li></ul></ul><ul><ul><li>Logo </li></ul></ul><ul><li>Goal: Motivate to respond </li></ul>Logo

34. pURL <ul><li>Variable data elements </li></ul><ul><ul><li>male/ female image </li></ul></ul><ul><ul><li>contact first name </li></ul></ul><ul><ul><li>assigned sales rep </li></ul></ul><ul><ul><li>Logo </li></ul></ul><ul><li>pURL features: </li></ul><ul><ul><li>Video of CEO </li></ul></ul><ul><ul><li>3 Qualifying Questions </li></ul></ul><ul><li>Contact information will automatically be filled in for easy verification </li></ul><ul><li>One SUBMIT button for all </li></ul>Logo

35. Thank you page <ul><li>Sent after landing page SUBMIT </li></ul><ul><li>Variable data elements </li></ul><ul><ul><li>male/ female image </li></ul></ul><ul><ul><li>contact first name </li></ul></ul><ul><ul><li>assigned sales rep & contact info </li></ul></ul><ul><ul><li>Logo </li></ul></ul>Logo Logo

36. Keys to success <ul><li>Segmented database </li></ul><ul><li>Needs-driven message </li></ul><ul><li>Offer </li></ul><ul><li>A/B variant testing </li></ul><ul><li>Personalization technology </li></ul><ul><li>Reporting </li></ul><ul><ul><li>Know exactly who responded and what action they took (or didn’t take) </li></ul></ul><ul><ul><li>Add info to customer profile </li></ul></ul>

37. <ul><li>Part 4 </li></ul><ul><li>Moving Profiles into the Sales Process </li></ul>

38. Building a Profile – Revisited! <ul><li>Start with the basics </li></ul><ul><ul><li>Professional Information </li></ul></ul><ul><ul><ul><li>Company, title/functional role </li></ul></ul></ul><ul><ul><li>Demographics </li></ul></ul><ul><ul><ul><li>Geography, gender, age, industry, business size </li></ul></ul></ul><ul><ul><li>Products purchased </li></ul></ul><ul><ul><ul><li>What was bought, price, timeframe of purchase </li></ul></ul></ul><ul><ul><li>Sales info </li></ul></ul><ul><ul><ul><li>Sales personnel, sales cycle duration </li></ul></ul></ul><ul><ul><li>Lead source origin </li></ul></ul><ul><ul><ul><li>Marketing and sales outreach </li></ul></ul></ul>

39. Mapping the course Marketing Profiles Sales Force Buyer SALE! Negotiation PO Invoice Support Focus Here First!

40. Marketing “ammo”

41. Marketing “Targets”

42. Are We Hitting the Target? <ul><li>An average buyer digests only about 1 in 10 marketing contacts </li></ul><ul><li>Of those 1 in 10, only about 1 in 10 lead to a followup or significant action. </li></ul><ul><li>That means about 1 in 100 marketing contacts results in a buyer taking any further action. </li></ul>

43. How Can We Do Better? <ul><li>Marketing & Sales need a coordinated message to customers! </li></ul><ul><li>Can use Marketing Profiles to better know the customer and what drives them. </li></ul><ul><li>What messages are being heard and which are being ignored? </li></ul><ul><li>Let’s play a game... </li></ul>

44. The Traditional Sales Cycle

45. Truth About The Sales Cycle <ul><li>The traditional Sales Cycle widens the gap between Marketing & Sales </li></ul><ul><li>50% waste in time chasing unproductive leads </li></ul><ul><li>80% of productive leads ignored </li></ul><ul><li>$1 Trillion lost sales productivity and wasted marketing budget each year </li></ul><ul><li>Marketo, Inc. 2008 survey </li></ul>

46. Keeping the prize in view Marketing Profiles Sales Force Buyer SALE! Negotiation PO Invoice Support We Must Start Here… But the Prize is Here…

47. Let’s focus on a revenue cycle instead! <ul><li>Coordination of all Marketing & Sales activities from first customer contact to closing the sale. </li></ul><ul><li>Jointly-owned prospects </li></ul><ul><li>Hand-In-Hand instead of Hand-Off </li></ul><ul><li>Focus on the Revenue Cycle instead of the Sales Cycle </li></ul>

48. The revenue cycle

49. <ul><li>Part 5 </li></ul><ul><li>Amplifying the Messages </li></ul>

50. Amplification <ul><li>Amplify (v) : to make louder, to increase, to add detail. </li></ul><ul><li>1/8-column ad in an obscure publication has no amplification! </li></ul><ul><li>A full-page overlay on the front page of the #1 publication has plenty of amplitude! </li></ul>

51. Amplification as a strategy <ul><li>Need to amplify: </li></ul><ul><li>Leads Process from Marketing to Sales </li></ul><ul><li>Product Awareness to Sales </li></ul><ul><li>Product Message to Customer </li></ul><ul><li>Customer Messages to Marketing </li></ul>

52. Amplifying the leads process <ul><li>Use a scoring system to identify the “strength” of a lead. </li></ul><ul><li>BANT – budget, authority, need, timeline </li></ul><ul><li>Build a strong set of sales enablement tools </li></ul><ul><li>Keep score: use results to fine-tune the lead process </li></ul>

53. Amplifying the product awareness <ul><li>Daily updates to Sales on features and benefits </li></ul><ul><li>Marketing & Sales -“instant message” system to make communication real-time. </li></ul><ul><li>Sales Automation </li></ul><ul><li>Repository of white papers, testimonials, technical data, etc. </li></ul><ul><li>Travelling demonstration units </li></ul><ul><li>In-Depth Training and hands-on experience </li></ul>

54. Amplifying the customer message <ul><li>Most sales messages have not changed in the past 5 years despite new product features and a changing marketplace. </li></ul><ul><li>Know when to market and when to sell. </li></ul><ul><li>Use technical resources to sell technical features. </li></ul><ul><li>Testimonials add impact – what else? </li></ul><ul><li>One-2-One communication is “louder” than email </li></ul><ul><li>Maintain consistency between methods and origins </li></ul>

55. Amplifying customer messages <ul><li>Marketing & Sales need to share ALL customer feedback with each other. </li></ul><ul><li>Listen to the Customer – use feedback surveys, reorder data, email, personal follow-up, etc., to understand what you are doing right, and wrong. </li></ul><ul><li>Acknowledge all customer feedback with a time line for response. Follow through! </li></ul><ul><li>All customer feedback is important and has a message – look for it and make the right people aware! </li></ul>

56. <ul><li>Part 6 </li></ul><ul><li>Translating the Messages </li></ul>

57. What is translation? <ul><li>Translation (n): version in another language; a change or transference. </li></ul><ul><li>For us, translation means taking the general marketing message and transferring it into the precise message that will lead a customer to make a purchase. </li></ul>

58. An example <ul><li>Marketing message: PowerPoint slide deck </li></ul><ul><li>Sales translation for Customer Y: </li></ul><ul><li>Use slides 12-16 to highlight the specific need of the customer to migrate the control system to a modern platform. </li></ul><ul><li>The remainder of the slide deck is “babble”. </li></ul>

59. Another example <ul><li>Marketing message: Product Brochure </li></ul><ul><li>Sales translation for Customer Z: </li></ul><ul><li>Use last page to highlight certifications which indicate suitability for use in hazardous areas. </li></ul><ul><li>The remainder of the brochure is “dessert”. </li></ul>

60. One more example <ul><li>Marketing message: Email Campaign </li></ul><ul><li>Sales translation for Customer X: </li></ul><ul><li>Send custom version of “stock” email which highlights the customer’s specific need or situation. </li></ul><ul><li>The personal touch can mean the difference between the “save” folder and “recycle bin”. </li></ul>

61. Some good practices <ul><li>Feature downloads and white papers on your website </li></ul><ul><li>Make it easy to obtain technical data </li></ul><ul><li>Use widely-used formats (PDF, etc.) </li></ul><ul><li>Give a choice of formats for electronic media </li></ul><ul><li>Make it easy to report format issues </li></ul>

62. Some more good practices <ul><li>Don’t hide information </li></ul><ul><li>If you don’t know, find out quickly! </li></ul><ul><li>Know what “messages” the customer already has; update the out-of-date; no duplicates please! </li></ul><ul><li>Bring along a “listener” to calibrate the “messages”. </li></ul>

63. <ul><li>Part 7 </li></ul><ul><li>Extending the Messages </li></ul>

64. Extending the reach of the marketing message <ul><li>How buyers make buying decisions is a challenge made more complex by the host of digital channels buyers now use </li></ul><ul><li>Sales must take the marketing messages and extend them to a wide audience, even to the point of “uncovering” needs </li></ul><ul><li>Targeted message – targeted exposure </li></ul>

65. Ways to extend the message <ul><li>“ Aha!” Moments </li></ul><ul><li>Laying track – segment by segment </li></ul><ul><li>Social Media “reaches” where we could not go easily before </li></ul><ul><li>Internet (electronic) versus ‘glossy’ (paper) </li></ul><ul><li>Huggin’ and chaulkin’ – keeping track </li></ul><ul><li>Integrated Marketing & Sales automation </li></ul>

66. Putting it all together <ul><li>How can the message be developed (marketing) and then be taken to your prospects so that they are heard (amplification) with the widest possible exposure to the message (reach, extent)? </li></ul><ul><li>The media might be different in each type of communication (ads, print, text, Twitter, flyers, trade pubs, etc.), but the message should be constructed to be coordinated, concise, and effective. </li></ul>

67. <ul><li>Part 8 </li></ul><ul><li>The Holy Grail Obtained: </li></ul><ul><li>Alignment of Marketing & Sales </li></ul>

68. Integration of Marketing & Sales <ul><li>Build Detailed Customer & Prospect Profiles </li></ul><ul><ul><li>Start with the Basics </li></ul></ul><ul><ul><li>Add Quantitative and Qualitative Details </li></ul></ul><ul><li>Integrate Profiles in the Marketing Strategy </li></ul><ul><ul><li>Build Learning Experiences </li></ul></ul><ul><ul><li>Create Smaller, Targeted Campaigns </li></ul></ul><ul><ul><li>Add Personalization </li></ul></ul><ul><li>Maintain a Database </li></ul><ul><ul><li>Keep Track of the Messages Sent and to Whom </li></ul></ul><ul><ul><li>Report on How They Responded </li></ul></ul>

69. Integration of Marketing & Sales <ul><li>Use Customer & Prospect Profiles </li></ul><ul><ul><li>Know Your Customer (needs & behaviors) </li></ul></ul><ul><ul><li>Know Your Message (marketing & strategy) </li></ul></ul><ul><li>Focus on the Revenue Cycle </li></ul><ul><li>Amplify the Message from Marketing </li></ul><ul><ul><li>Keep Your Toolbox Sharp and Current </li></ul></ul><ul><li>Translate the Marketing Message </li></ul><ul><ul><li>Speak the Language of Your Customers’ Needs </li></ul></ul><ul><li>Extend the Marketing Message </li></ul><ul><ul><li>Targeted Message  Targeted Exposure </li></ul></ul>

70. <ul><li>QUESTIONS? </li></ul>

Building Detailed Marketing Profiles to Drive Better Sales

Juliann Grant

Building Detailed Marketing Profiles to Drive Better Sales