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Lead generation developing an ideal customer profile

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Lead generation success is highly correlated to your ability to effectively target your best prospects. Learn how one company defined their buying role personas and achieved much better results. A presentation by Sales Benchmark Index.

Published in: Business, Technology

Lead generation developing an ideal customer profile

  1. 1. Lead Generation: Developing an Ideal Customer Profile<br />How Does Benchmarking Help Me?<br />
  2. 2. The Situation<br />$550M software firm faces:<br />Poor results from lead development efforts<br />Poor leads wasting time in the sales force<br />Vast amount of money wasted on search engine keywords<br />LD team does not understand who to target or where the prospect is in the buying process<br />VP Marketing unwilling to increase spending until issues resolved<br />VP Marketing wants:<br />Defined buying profiles<br />New lead generation campaigns that work<br />
  3. 3. What Did Not Work<br /><ul><li>Doubling monthly search engine keywords budget
  4. 4. Increasing call volume quotas
  5. 5. Expanding number of lead generation campaigns</li></li></ul><li>What Did Work<br /><ul><li>Developed ideal customer profile (ICP)
  6. 6. Defined target markets and audience
  7. 7. Identified key buyer roles
  8. 8. Captured wants, needs, desires, buying cycle of key roles
  9. 9. Documented Personas with one-page fact sheets
  10. 10. Trained lead development team on ICP and buying role personas
  11. 11. Integrated ICP into new keywords strategy and lead campaigns</li></li></ul><li>Target Market<br />Higher Potential Industries <br /><ul><li>Healthcare
  12. 12. Retail
  13. 13. Manufacturing
  14. 14. Mining</li></li></ul><li>Target Market – Buyer Roles<br />SVP of HR, CFO, and COO are all involved --- Variation by company dynamics determine influencers and drivers<br />Small Companies up to 500 employees<br /><ul><li>The owner is the decision maker </li></ul>Mid-size Companies 500 - 2,000 employees<br /><ul><li>SVP of HR or COO drive the project with CFO approving</li></ul>Large companies 2000+ employees<br /><ul><li>Committee decision making, with an RFI/RFP process, and project leader can vary
  15. 15. With in-house solutions, the CIO is driving the project with HR and Operations involved secondarily
  16. 16. With web-delivered solutions, then HR and Operations are driving the project with IT involved secondarily</li></li></ul><li>Who are our audiences?<br /><ul><li>HR Director/VP – Key Entry Point
  17. 17. HR Manager
  18. 18. Chief Operating Officer
  19. 19. Operations Manager
  20. 20. Payroll Manager
  21. 21. Chief Financial Officer
  22. 22. Controller/Accounting staff</li></ul>Secondary<br /><ul><li>Consultants who recommend/evaluate
  23. 23. IT director
  24. 24. Analysts (key influencers)</li></ul>High Level Buying Roles<br />
  25. 25. Buying Role Definition<br />For each role document:<br /><ul><li>What are they like?
  26. 26. What do they want?
  27. 27. What does our solution offer them?
  28. 28. Desire
  29. 29. Need
  30. 30. Difficulties
  31. 31. Fears</li></li></ul><li>Audience – HR Director/VP<br />What are they like?<br /><ul><li>Long-term employee, 5+ years in most cases
  32. 32. Concerned that the senior HR role has been not perceived as a key strategic position </li></ul>What do they want?<br /><ul><li>Want to have a seat at the table and seen as a strategic influencer
  33. 33. Major role in compliance, productivity/turnover (job satisfaction), hiring/firing,
  34. 34. Compensation bonus based on turnover
  35. 35. Want to avoid compliance issues/lawsuits – Avoid legal action</li></ul>What does our solution offer them? <br /><ul><li>Proactive alerts to compliance potential compliance issues
  36. 36. Model Scenarios – Painlessly provide reports on actual labor costs and forecast projections
  37. 37. Staff Scheduling- Employee satisfaction based on employees input into availability before schedule is produced. Less hassle, efficiency for operations.
  38. 38. Visibility into staff resource balance (where to add or trim headcount)</li></li></ul><li>Audience – HR Director/VP<br />Desire<br /><ul><li>Perceived as a strategic contributor in the business
  39. 39. Want to be informed of organization direction, consulted, and part of decisions
  40. 40. Want a seat at the table
  41. 41. Focus on strategy rather than administration
  42. 42. Remain in compliance – out of trouble
  43. 43. Maintains credibility
  44. 44. Career advancement
  45. 45. Want my employees to be happy – a great, happy workforce. Success of the business, and my success.
  46. 46. Personal accolades and awards
  47. 47. Make their boss look good
  48. 48. Want to be on the leading edge of trends in the HR Industry</li></li></ul><li>Audience – HR Director/VP<br />Needs<br /><ul><li>Provide the organization with insights and powerful data
  49. 49. Access to information and produce reports – Serving the organization, satisfying need of the organization
  50. 50. Proactive alarms to possible liabilities
  51. 51. Stay current with latest HR requirements and laws
  52. 52. Perceived as the gatekeeper on workforce efficiency
  53. 53. Recruit and retain top talent and onboarding
  54. 54. Reduce voluntary turnover
  55. 55. Organizational adherence to HR policies/practices
  56. 56. Executive sponsorship/relationship
  57. 57. Trusted by senior leadership
  58. 58. Competitive wage scales and benefits package</li></li></ul><li>Develop Persona One-Pager<br /><ul><li>Indicators of strong fit
  59. 59. Buying criteria
  60. 60. Buying process map
  61. 61. Buyer concerns aligned to process
  62. 62. Key messages</li></ul>Example on following page<br />
  63. 63. Persona: ACME Company Profile and Fit<br />Indicators of high likelihood of pain, strong fit<br /><ul><li>Decentralized hourly workforce with many locations
  64. 64. Emerging/Growing or Declining/consolidating
  65. 65. Leadership change, merger or acquisition
  66. 66. Ideal fits are most common in Healthcare, Retail, Mining and Manufacturing</li></ul>What are they doing today that indicates strong fit<br /><ul><li>In-house proprietary system, manual processes
  67. 67. Legacy ERP systems</li></ul>Buying criteria:<br /><ul><li>Increased efficiency, time savings, Efficient deployment of resources, User friendly, Business ROI, Data integration, Employee engagement</li></ul>AWARENESS<br />CONSIDERATION<br />PREFERENCE<br />Buyer<br /><ul><li>Do I have a problem?
  68. 68. How does this problem relate to achieving my goals?
  69. 69. How painful is the problem?
  70. 70. Who does the problem impact – departments, users, employees, decision makers?
  71. 71. What are my peers doing? </li></ul>Buyer<br /><ul><li>Can I ignore this?
  72. 72. Is there a quick fix?
  73. 73. Can I fix it myself?
  74. 74. Do I need help?
  75. 75. What are my choices if I need help?
  76. 76. How should I evaluate alternatives?
  77. 77. How will others on my purchasing committee evaluate alternatives? </li></ul>Buyer<br /><ul><li>How long will it take to get this fixed?
  78. 78. How much of our time do I need to put towards it?
  79. 79. How do I know the fix will work?
  80. 80. How disruptive will it be?
  81. 81. How much will it cost?
  82. 82. What impact will it have?
  83. 83. What happens if it doesn’t work? </li></ul>I Want…<br />I Cant…<br />Key Messages<br />HR Senior VP/EVP <br /> <br />Focus: Employee engagement/culture, productivity, accountability<br />Responsibilities: Recruiting, Compensation, Performance management, payroll/benefits <br />Role in purchase: Evaluates anything impacting employee engagement, staffing levels, and compliance. Always a key influencer.<br />Chief Operating Officer <br /> <br />Focus: Productivity and efficiency. Seeking Qualitydelivery to ensure customer satisfaction. Cost sensitive and process driven. <br />Responsibilities: Ensures quality delivery of product/service. <br />Role in purchase:User Buyer must work with the CFO to fund and approve solution purchase.<br />Finance CFO <br />Focus: Financial performance and productivity. Always looking for ways to increase profitability.<br />Responsibilities: Delivers bottom line numbers for the organization. Financial performance reporting, evaluates large purchases, forecasting revenue, budgeting and cost control<br />Role in purchase: Economic Buyer <br />
  84. 84. The Result<br />
  85. 85. Learn More<br />Contact us to hear the rest of the story...<br />Email - info@salesbenchmarkindex.com<br />Phone - 1-888-556-7338<br />Web: http://www.salesbenchmarkindex.com<br />

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