Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Advanced Lead Scoring in Eloqua

Presentation at Oracle CX, Chicago, 2018

  • Be the first to comment

  • Be the first to like this

Advanced Lead Scoring in Eloqua

  1. 1. VP, Global Demand Center and Marketing Operations OUTSIDE-IN: ACHIEVE SALES AND MARKETING EXCELLENCE WITH BETTER LEAD MANAGEMENT Ceri Jones
  2. 2. BASWARE MarketingGLOBAL COMPANY • Nasdaq listed, Helsinki • Established 32 years • $170M annual revenue – 1800 Employees • 18% revenue to R&D • 3,000 customers, 33M+ Users Largest Global Independent P2P Provider (Revenue) Largest OPEN Supplier Commerce Network • 55 team members in 11 countries • PM & SE (10), Field (25), GDC (20) • MS Dynamics, Eloqua, Kentico, Qlik Sense • LookBookHQ, Optimisely, BrightFunnel, Canva Global Demand Center driving focus on performance marketing e-Procurement “Basware P2P functionality, scoring No. 1 overall for products and services” “ AP Automation “Basware has the highest reference feedback score for e-invoicing and accounts payable invoice automation.” BASWARE
  3. 3. GLOBAL DEMAND CENTER Global Demand Center established 2013 Markie Award, 2013 for Best Sales & Marketing Alignment Pre-MQL nurturing commenced 2013 Lead Scoring V1 introduced 2014 Web Stack moved to Demand Center, 2016 and global rebuild completed July 2017 Orchestration of customer experience across Web, MAP, CRM, 2017 Focus on behavioural scoring to drive lead management better aligned to tech stack, 2017
  4. 4. THE VISION OF How lead management could be…
  5. 5. BUSINESS DRIVERS: ACHIEVE SALES & MARKETING EXCELLENCE Better resource planning in inside sales • Prioritize the right leads • Emphasize quality over quantity • Free-up time for outbound marketing More productive sales conversations • Gauge buyer intent • Reach out at the right time • Better understand prospect needs Targeted nurture program • Develop tailored emails designed for different levels of engagement Support for strategic marketing efforts • Create infrastructure that could mature with organization for initiatives like ABM
  6. 6. QUALITY NOT QUANTITY
  7. 7. PREVIOUSLY LEAD SCORING WAS A BIT LIKE…
  8. 8. WHAT WERE THE ISSUES? NO STANDARDS LACK OF SPEED FAILED INTEGRATIONSFLYING BLIND
  9. 9. BUYER INTENT THE OLD WAY: ALL ACTIONS WERE CREATED EQUAL
  10. 10. Scored leads based on 4 basic criteria: • Job level • Job function (persona) • Interest (solutions) • Account size LEAD QUALITY THE OLD WAY: SOME INFORMATION IS GOOD ENOUGH
  11. 11. INTEGRATION THE OLD WAY: ADDING UNNECESSARY COMPLEXITY • Slow processing • Loss of lead • Errors • Complex maintenance • Lack of usability • Inability to add new features • Limitations
  12. 12. WHAT DID WE TRANSFORM?
  13. 13. THE NEW WAY: PLATFORM INTEGRATION IS KEY FOR PROPER ENGAGEMENT SCORING To create a scalable marketing infrastructure, the new program integrates with many behavioral marketing data platforms and pulls in important engagement signals. Support for strategic marketing efforts Calling LookBookHQ
  14. 14. THE NEW WAY: MORE DETAILED INFORMATION IS BETTER Now actions are evaluated on a set of 40 criteria designed to assign an actual score to the buyer intent for a more granular understanding of engagement activities. More productive sales conversations
  15. 15. THE NEW WAY: FLEXIBILITY & CUSTOMIZATION ARE IMPORTANT FOR GLOBAL OPS Support for strategic marketing efforts Scores: Individual assets Individual forms - by country Which can be modified easily at any time
  16. 16. THE NEW WAY: LEADS ARE CATEGORIZED AND SCORED There are three customizable criteria that are used to score the leads: • Profile • Engagement • Negative score The score determines which path the leads will take: • Hot lead: gets pushed to MSD for immediate follow up by Inside Sales • Warm lead: get pushed to MSD and added to the Sales queue for lower priority follow up • Cool lead: get added to a specific persona-based nurturing program • Cold leads: get added to a generic nurturing program Better resource planning in inside sales Targeted nurture program Type of Leads Score Hot >85 Warm 70-84 Cool 60-69 Cold <59
  17. 17. THE NEW WAY: LEADS ARE AUTOMATICALLY ROUTED TO THE RIGHT PERSON BY COUNTRY Support for strategic marketing efforts
  18. 18. THE NEW WAY: AGILITY IN MARKETING & SALES • Increased the processing speed • Increased lead quality • Eliminated 99% errors • Reduced maintenance • Increased scalability without losing speed or functions
  19. 19. HOW WE TRANSFORMED
  20. 20. HOW DID WE DO IT? PHASE 1: DISCOVERY • Document current lead and scoring processes • Determine requirements for new program PHASE 2: BUILD • ReBuild & test new program components with Program Canvas PHASE 3: INTEGRATION • Create integration with MSD PHASE 4: LAUNCH • Testing • Go live
  21. 21. HOW DID WE DO IT? HOW? LESSONS LEARNED • Investigate why V1 was not working • Apply best practices • Document requirements • Audit the existing system • Simplify processes • More focus on behavior vs explicit attributes PHASE 1: DISCOVERY • Document current lead scoring processes • Determine requirements for new program
  22. 22. HOW DID WE DO IT? PHASE 2: BUILD • Build & test new program components HOW? LESSONS LEARNED • Create workflow diagram • Write detailed build document • Build components • Replacing: Avoided out-of-the-box components • First-timers: Create well- documented, detailed workflow and build document before starting work Score the lead Assign lead to sales rep Pass lead to CRM Validate the lead Associate it to campaign
  23. 23. HOW DID WE DO IT? PHASE 3: INTEGRATION • Create integration with MSD HOW? LESSONS LEARNED • Setup connections between Eloqua and the CRM • Test lead transfer • Build canvas using cloud connectors and form submits • There will be challenges • Think creatively to leverage new Eloqua capabilities
  24. 24. HOW DID WE DO IT? PHASE 4: LAUNCH • Testing • Go live HOW? LESSONS LEARNED • Iterative approach • Conducted global meetings in phases • Customized for local country needs/ workflows • Balanced global requirements vs. local requests • Test in stages • Engage multiple users in testing • Test multiple variations and scenarios
  25. 25. THE RESULTS
  26. 26. • Reduced score-to-lead time by 98.89% from 48 hours to 32 minutes • Improved Sales & Marketing alignment • Increased Sales Acceptance Rate of leads by 175% with the MQL-to-SAL rate increassing from 8% to 22% • Over 100 new leads immediately created based on the lead score which would not have previously qualified under original scoring - 22 became Sales Accepted Leads (SAL) • More productive conversations between sales and prospects • Business Development Reps (BDRs) reaching out at the right time when prospects are ready to engage – with better insight on content consumed • Better nurture planning to re-engage low-scoring leads • Enhanced resource planning for BDRs enabling more time to spend with hot prospects WHAT ARE THE RESULTS?
  27. 27. BESPOKE APPROACH TO LEAD-CREATE THRESHOLDS New program enables development of engagement strategies based on category and numeric score.
  28. 28. LESSONS LEARNED
  29. 29. HOW DID WE DO IT? LEAD SCORING: LESSONS LEARNED • BE STRATEGIC: Consider how sales and marketing resources need to spend their time • BE SPECIFIC: Every prospect is different; there is no one-size-fits-all • BE PATIENT: The process for defining and building is going to be time-consuming • BE AGILE: Roll-out a version; test; make adjustments accordingly
  30. 30. WHAT’S NEXT?
  31. 31. NEXT PHASE CONTINUOUS OPTIMIZATION • ABM Looking at aggregate data on target accounts to analyze company needs • ADD MORE ‘INTENT’ DATA • See when target companies are actively researching our products and services, signaling when they are in a purchasing cycle • LEVERAGE PREDICTIVE ANALYTICS: CONSIDER- • What will they look at next? • What information do they need next to move through the pipeline? • What is the tipping point on different deal types? • COLLECT MORE DATA AT INDIVIDUAL AND ACCOUNT LEVELS: • Track individual engagement • Build company profile • Better understand business needs and personal motivators

×