How to Increase Lead to Customer Conversion Rates with Lead Nurturing
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How marketing agencies can help their clients' marketing and sales teams Increase lead to customer conversion rates.
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How to Increase Lead to Customer Conversion Rates with Lead Nurturing
- 1. Increasing Lead-to-Customer Conversion Rates Using Lead Nurturing Marketing Agency Training Program December 2010 Peter Caputa IV Partner Program Manager Twitter: @pc4media pcaputa@hubspot.com #NotReadytoBuyYet
- 2. MOFU: Middle of the Funnel
- 3. Agenda How Lead Nurturing Fits into the Funnel Independent Data about Importance of Lead Nurturing How You Can Help Move a Lead through Your Client’s Sales Funnel How to Start Nurturing Leads Preparing Your Client’s Sales Team for Warmer Leads How to Get Help
- 4. Convert Visitors into Leads & Customers Lead Generation Lead Nurturing
- 5. HubSpot Conversion Funnel Lead Nurturing
- 6. Law of 29 6
- 7. Lead Nurturing Definition(s) Lead Nurturing is the process of developing a conversation between a company and a potential buyer by delivering relevant content and information through various communication channels. A marketing process that uses content (offers, tools, whitepapers...) and distribution tactics (email, phone, retargeting...) to engage known prospects over a period of time. 7
- 8. Drip Marketing Definition Drip Marketing is a communication strategy that sends, or "drips," a pre-written set of messages to customers or prospects over time. The phrase "drip marketing" comes from the phrase "Drip irrigation." This is an agriculture/gardening technique in which small amounts of water are fed to plants over long periods of time. 8
- 9. What are Your Client’s Business Objectives? Boost Lead Volume? Increasing Lead to Customer Conversion Rates? Drawing More of the Decision Makers and Influencers into the Sales Funnel? Reducing Length of Sales Cycle? Re-Engaging Old Leads? Conditioning Leads for Higher Lifetime Customer Value and Retention? 9
- 10. Questions to Ask Your Clients Are your leads converting to customers at the rate you want, need or are used to? How are your salespeople prioritizing which of your older leads to contact? Is the length of your sales cycle going up or down? When your salespeople call their leads, is it easy for them to book a call? Is it easy for them to dive right into the pains your services solves? 10
- 11. Agenda How Lead Nurturing Fits into the Funnel Independent Data about Importance of Lead Nurturing How You Can Help Move a Lead through Your Client’s Sales Funnel How to Start Nurturing Leads Preparing Your Client’s Sales Team for Warmer Leads How to Get Help
- 12. Of those surveyed by sales lead expert Mac Macintosh, 23% had bought the product or service they were inquiring about within 6 months.
- 13. Of those surveyed, 67% still intended to purchase, but were not yet ready.
- 14. According to Focus, it is only in the last third of the buying process that prospects actually want to engage with a sales representative.
- 15. According to DemandGen Report, nurtured leads produce – on average – a 20% increase in Sales Opportunities versus non-nurtured leads.
- 16. According to an MIT Study with InsideSales.com, 78% of sales that start with a web inquiry go to the company that responds FIRST!
- 17. Agenda How Lead Nurturing Fits into the Funnel Independent Data about Importance of Lead Nurturing How You Can Help Move a Lead through Your Client’s Sales Funnel How to Start Nurturing Leads Preparing Your Client’s Sales Team for Warmer Leads How to Get Help
- 18. What is a Sales Lead? A sales lead… is the identity of a human or entity potentially interested in purchasing a product or service, and represents the first stage of a sales process.
- 20. What is a Warm Qualified Sales Lead? A warm, qualified, sales-ready lead fits the profile of an ideal customerwho wants to learn more and has acknowledged a business problem, as well as interest in discussing how you can help solve it.
- 21. Qualified Leads Qualified Lead
- 22. Ask Yourself… How can I help my clients turn more leads into customers by turning more leads into warm, sales-ready, qualified leads?
- 23. Conversion of Lead into Sales Opportunity… Level 1 = Shows Interest Level 2 = Meaningful Interaction Level 3 = L2 + Need: (baNt) Level 4 = L3 + Budget, Authority and Timeline: (BAnT)
- 24. Level 1 = Shows Interest
- 25. Conversion of Lead into Sales Opportunity… Level 1 = Shows Interest Level 2 = Meaningful Interaction Level 3 = L2 + Need (baNt) Level 4 = L3 + Budget, Authority and Timeline (BAnT)
- 26. Level 2 = Meaningful Interaction
- 27. BANT is a Sales Term B = Budget A = Authority N = Need T = Timeframe
- 28. Conversion of Lead into Sales Opportunity… Level 1 – Shows Interest Level 2 – Meaningful Interaction Level 3 – L2 + Need (baNt) Level 4 – L3 + Budget, Authority and Timeline (BAnT) Marketing Sales
- 29. Conversion of Lead into Sales Opportunity… Level 1 = Shows Interest Level 2 = Meaningful Interaction Level 3 = L2 + Need (baNt) Level 4 = L3 + Budget, Authority and Timeline (BAnT)
- 30. Support Tools for Sales
- 31. Matching Messages to the Buying Cycle Early White papers, newsletters, webinar Middle Special invitations, product/service datasheets, demos/trials Later Pricing, feature comparisons, testimonials, demo/trials 31
- 32. Agenda How Lead Nurturing Fits into the Funnel Independent Data about Importance of Lead Nurturing How You Can Help Move a Lead through Your Client’s Sales Funnel How to Start Nurturing Leads Preparing Your Client’s Sales Team for Warmer Leads How to Get Help
- 33. Lead Nurturing Email Ideas Thank you/Welcome Tips FAQs Online Tools Blog post Series CTAs Existing content Product Specs & Documentation
- 34. Implement an HTML Template if You Want..
- 35. HubSpot How To: Creating is Simple!
- 36. Writing Your Email 36
- 40. Be personal - don’t use noreply@yourdomain.com
- 42. Tell them what they are getting
- 44. You can change the colors with a call to support
- 46. ${firstname}
- 47. ${lastname}
- 48. ${company}
- 49. Images are additive, not the whole email!- Add your company name and address for CAN SPAM
- 50. Preview Your Email 42
- 51. Save Your Email 43
- 52. Creating the Blog Grader LN Campaign
- 53. Examples
- 54. Agenda How Lead Nurturing Fits into the Funnel Independent Data about Importance of Lead Nurturing How You Can Help Move a Lead through Your Client’s Sales Funnel How to Start Nurturing Leads Preparing Your Client’s Sales Team for Warmer Leads How to Get Help
- 55. Prepare Your Clients’ Sales Team Qualified Leads Nurturing Qualified, Not Ready Leads Nurturing Qualifiable, Not Quite Ready Leads
- 56. Preparing Your Client’s Sales Team Let them know what’s going on…constantly with lead flow Give them sample questions (sound-bites) to ask leads Share results – Good + Bad Ask for lead quality + quantity feedback
- 58. Final Bit of Data Porn According to Forrester Research, companies using Lead Nurturing, have closing rates 300% higher than their competitors who do not stay in touch with qualified and qualifiable leads. 50
- 59. Agenda How Lead Nurturing Fits into the Funnel Independent Data about Importance of Lead Nurturing How You Can Help Move a Lead through Your Client’s Sales Funnel How to Start Nurturing Leads Preparing Your Client’s Sales Team for Warmer Leads How to Get Help
- 60. How to Get Help…
- 61. What’s HubSpot? Inbound marketing software + training Over 3,500 customers in 3 years 170+ employees
- 62. Learn the Value of the HubSpot Software… As a Marketing agency or consultant, you have access to longer trials IF you are interested in becoming a HubSpot Partner/Value Added Reseller Start a 30 day free trial for your website. http://bit.ly/99SOv or client: http://bit.ly/7bENS Gives you access to http://success.hubspot.com
- 63. Learn the Benefits of the Value Added Reseller Program Group of 200+ marketing agencies and consultants who leverage HubSpot software to more effectively and efficiently provide value to their clients. Support for developing new services, building lead funnel, sales and customer support and assistance, ensuring customer ROI and success. Margin share of 20% on all deals for the life of the customer Additional benefits for VARs who bring on 3+ customers and maintain high customer success rates. 55 A Group that Wants to Change How the World Does Marketing!
- 64. Ask for Help… Request a Consultation with a Senior Member of the HubSpot Team to discuss your skills, goals, etc: http://www.hubspot.com/partners/marketing-agency-consultation-request Apply for Sales Development Program: http://www.hubspot.com/partners/marketing-agency-sales-development-program/
- 65. List of Upcoming Classes/Link to Recordings 57 http://www.hubspot.com/partners/training-program/classes
- 66. Weekly Email about Upcoming Classes - Thursday 58
- 67. Live Webinar: Every Tuesday @ 1PM EST 59 Additional Webinars SOMETIMES on Thursday at 2PM EST
- 68. Register for Weekly Class(es) to Get Login 60
- 69. Some Homework & Recorded Stuff Too… 61 Download: http://www.hubspot.com/partner-program--inbound-marketing-calculator
Editor's Notes
- Marketers tend to focus on the top of the marketing funnel – driving more traffic to the website, for example, and the bottom of the funnel – closing the sale. If prospects aren’t ready to buy right now, they are abandoned. Sometimes they’re never even identified in the first place.But that’s where the gold is. And the purpose of this presentation is to remind you of that.You have to engage prospects at various stages of the buying process and nurture or develop them into customers. Not everyone is ready to reach for a credit card or speak to your sales team or even give you their contact information. This doesn’t mean they aren’t valuable to you.
- http://www.flickr.com/photos/photofarmer/2552390830/sizes/m/in/photostream/
- 6 months after “inquiring”, just 23% of those surveyed by sales lead expert Mac MacIntosh, had actually bought the product or service they inquired about. BTW, they bought either from the original company OR A COMPETITOR.Image courtesy of: http://www.adventurepostoffice.com
- 67% of those surveyed (that did not buy within the 6 months) still INTENDED to buy, but were not yet ready.Image courtesy of: http://commons.wikimedia.org/
- According to Focus, only in the last third of the buying process to prospects actually want to engage with a sales representative.Image courtesy of: http://edlabor.house.gov/
- According to DemandGen Report, nurtured leads produce – on average – a 20% increase in Sales Opportunities versus non-nurtured leads.Image courtesy of http://www.expressions-grants.com
- Source data: MIT Study with InsideSales.com78% of sales that started with a web inquiry went to the FIRST company that responded!Image courtesy of: http://www.seekjerseys.com/images/jerseys/nfl/oakland-raiders/shell-black-78-jersey.jpg
- Questions you might have…Getting the prospect interested,
- Modified from Brian Carroll’s Lead Gen for the Complex SaleL1 & L2 Good for lead nurturingL3 & L4 sales people
- Source data: MIT Study with InsideSales.comThe average company only makes between 1.5 and 1.7 follow up attempts before giving up! And takes 2-3 days to do so!
- Modified from Brian Carroll’s Lead Gen for the Complex SaleL1 & L2 Good for lead nurturing – triggered by the prospect’s ACTION – Download a trial, receive information over the course of the trial period that help the user to install and use the software. Final email in drip campaign asks if the prospect wants to speak to a sales rep.L3 & L4 sales people
- Might be a good place for a picture?From Success.HubSpot.com: Overview: Increase Lead Reconversion Rates With HubSpot Lead NurturingLead Nurturing is the art and science of crafting a series of emails that get automatically sent to your leads after they first convert to get them to take more steps down your funnel without you doing a thing!!Marketers that use lead nurturing typically get a much higher conversion rate of leads into customers. You’ve probably invested a lot of time and effort to get your leads in the first place. It would be crazy not to invest the additional bit of effort to create Lead Nurturing campaigns that ensure that as many of those leads as possible become customers. If you have even just one form or landing page hooked up to HubSpot, DO NOT REST until you have at least 1 Lead Nurturing campaign actively maximizing the chance that those hard-earned leads become customers.According to MarketingSherpa, 70% of your leads will end up buying something from you or one of your competitors, but they won’t do it right away! Lead Nurturing lets you keep progressing those leads down your funnel and stay top-of-mind so that when they are ready to buy, there’s a good chance they’ll buy from you, and not one of your competitors.Even if you or a sales rep contacts every one of your leads, you should set up Lead Nurturing to keep your leads moving down your funnel in parallel with your human-based efforts.
- Modified from Brian Carroll’s Lead Gen for the Complex Sale
- Modified from Brian Carroll’s Lead Gen for the Complex SaleL1 & L2 Good for lead nurturingL3 & L4 sales people
- Each lead nurturing campaign, can be attached to a conversion form. When a lead converts for the first time, they will then begin receiving your lead nurturing campaign.
- KARENFrom Can Spam – your from, to and reply to must be accurate and identify the person or business who is sending the message
- KAREN
- KAREN
- KAREN
- KARENPreview your email before you sendYou’ll notice in the preview that your Can Spam compliant footer is automatically added. This includes, your company name, address as well as a line letting people know why they are receiving this email. In addition an unsubscribe link is automatically added. You can send yourself or a colleague a test, or save a draft to send laterIf you click Send now, we’ll take over and start processing the email. It will start sending within 15 minutes, and the total deliver length will depend on how many leads you are emailing. If you save a draft, we’ll keep track of the recipients and you can send it later at your convenience.
- If your company does not convert many of those “long sales cycle” leads into a customer, the problem is NOT lead quality or the competition. Forrester Research says that companies following a lead management process that includes Lead Nurturing, have closing rates 300% higher than their competitors who do not stay in touch with qualified and qualifiable leads. Source date: Forrester ResearchImage courtesy of: http://www.gerardbutler.net/300/images/300-logo.png
- My team is 4 of our most senior team members. We’re adding 2 additional team members to the team next week. If you’d like to discuss how we can you help you, request a call.During this call, we typically talk about -The challenges that are holding you back from growth- Ways to increase client acquisition and retention rates- Ways to transition from project work to securing larger and longer retainers- Recruiting, training and managing employees and contractors successfully- Identifying service offerings that can provide additional value to your clients and growth potential for you- Ways to stay steps ahead of your competition in your knowledge of how to apply technology to marketing- Setting your inbound lead generation goals based on your sales and revenue goals
- HubSpot provides software + training to help businesses get found online, convert site visitors into leads and customers. The software helps measure and analyze what’s happening, so users can improve their lead generation and customer acquisition results over time. We now have over 1500 customers and are signing up about 150 new customers every month. We are up past 90 employees now, and we are always looking for new inside sales professionals, and software developers. You can apply online at hubspot.com/careers.
- Here are the links to start a free trial for yourself or a client. You can also go to http://www.hubspot.com/partners and complete the form to get access to these links. Please do not advertise the availability of these trials. Typically, we offer only a 7 day trial.
- My team is 4 of our most senior team members. We’re adding 2 additional team members to the team next week. If you’d like to discuss how we can you help you, request a call.During this call, we typically talk about -The challenges that are holding you back from growth- Ways to increase client acquisition and retention rates- Ways to transition from project work to securing larger and longer retainers- Recruiting, training and managing employees and contractors successfully- Identifying service offerings that can provide additional value to your clients and growth potential for you- Ways to stay steps ahead of your competition in your knowledge of how to apply technology to marketing- Setting your inbound lead generation goals based on your sales and revenue goals
- - Weekly email on Thursdays w/ all of the live webinars you need to register, other homework you should complete.
- - Weekly email on Thursdays w/ all of the live webinars you need to register, other homework you should complete.
- - A page on our website w/ a list of the live webinars. Click the links to register and get login info each week.
- You’ll need to regsiter each week for the classes. This is our way of checking attendance. People that attend regularly will get special attention and special perks.
- - Homework. For example, next week, we’ll be telling you to download the inbound marketing calculator and run through the numbers for your own business.