Not all leads will be customers. Using lead conversion processes and automation, leads can be qualified and nutured better to allow sales to focus on those leads that are likely to close.
When marketing takes more control of the lead conversion process, sales is able to focus on closing deals, rather than on selling to customers who are not interested or may not be your customers at all.
2. Integrated Marketing Programs to Support Customer Qualification
Process
Distribute Marketing Tools To Support Sales Process
Develop Triggered based Marketing Campaigns by Source
Move the prospect thru the sales qualification process
Continuous Optimization Campaigns
Integrated Marketing Approach
5. 5
Results from researchers at Forrester, Jupiter, Amazon.com and Ovum
who analyzed campaign performance when analytics targeted certain
consumers -- across multiple industries and channels.
Source: “Marketing Analytics to the Rescue: The Next Big Thing?” David J. Santoro, DM Review
- DM Direct BI Special Report, February 11, 2003.
Improvements by using analytics Before using
Analytics
After using
Analytics
Factor
Improvement
Banner ad click through rates 0.3% 21% 63X
Mail response rates 0.5% 18% 36X
Merchandising responserates 0.2% 12% 24X
Conversion rates (post-response) 0.9% 10% 11X
Repeat buyer rates 2.0% 60% 30X
Leverage Customer Data
The Difference is in the Conversion Rates
6. 6
Getting The Right Offer To The Right Person at The Right
Time
Know the audience – “touch” fewer people, fewer times
Collect the clues in a data warehouse
Use the clues to make offers at the right time geared toward the individual’s
need or interest
Provide more relevant offers
The difference is use of technology & analytics
Shows up as differences in conversion rates and customer satisfaction
HIGHER Conversion rates: % of people who respond to the offer
HIGHER Customer satisfaction: % of people happy with the company
and its products
Source: Good vs. Bad Marketing:Analytics to the Rescue, Dr. Dave Schrader, Teradata,
Washington, D.C., June 18, 2003
Customer Segmentation
7. Individual Tracking from lead source to site visit to conversion
Customer Targeting
Close Loop Marketing
Segment Leads
by Source
What site they came from
What ads they saw and clicked
The path they took on the site
Destination site after click
Actually purchased
Conversion
Goal+
Site Path
Analysis +
Target Customers by Source to Increase Conversion
8. Awareness
Consideration
Conversion
Loyalty
Advocacy
Sample Source Lead
Conversion SocialWeb Email Display Permission-based AffiliatesSEM CoRegCS Print Partner Other
Move Lead to Consideration: Provide
links to online resources (Videos,
testimonials, comparisons, etc.
Contact: Custom
Service
Follow up is done immediately through triggered emails upon leads added to the
database.
Emails are targeted to attendee status (visited booth, didn’t visit) inviting to engage
Request for customer feedback –
personalized/targeted automated
follow up
Purchase
Triggered Follow up on Satisfaction,
goals, needs, questions/interests
Encourage sharing, affiliate, promotion, up-sell
incentives
9. Touch
DM/Email
Campaigns
Continue To
Receive Info
Remove From Touch
Triggered
Follow up
NO
Respond?
YES
NO
Respond?
YES
L0- Raw Lead
L1- Sent Info
L2- Responded
L3- Qualified
P1- Assigned to
Customer
Service
L0
L1
L2
L3
NO
YES PI
Automates much of initial process, customer service is able to focus on fall out,
special needs, closing sales.
Touch Follow-up 6-8 WEEKS
Customer Conversion
Stage
10. Increase Qualified Prospects
Establish process for all activities
Establish trigger-based campaigns
Provide effective marketing tools to support qualification
Formalize all communications
Analyze current marketing programs
Increase product/company awareness
Add more value to customer base
Expected Outcomes:
Allow customers to self-qualify, provides more data for customer service
to provide personalized, relevant offers, follow up.
Quick conversions allow for more conversions
Incentivize and support existing customers to increase advocacy and
LTV
Approach Summary