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LookBookHQ "From Lean to Machine: Building Scale at a Start-Up in Record Time"
The document outlines a marketing strategy seeking to transition from a predominantly outbound sales model to a balanced approach with at least 50% inbound marketing. Elle Woulfe shares a five-part plan involving the establishment of a demand funnel, optimization of technology, creation of a new messaging framework, development of content for the buyer's journey, and an experimental approach to filling the funnel. Key takeaways include the importance of clear documentation, engaging with the sales team, and maintaining a focus on effective measurement and process efficiency.
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LookBookHQ "From Lean to Machine: Building Scale at a Start-Up in Record Time"
- 1. From Lean to Machine: BuildingScale at a Start- Up in Record Time Elle Woulfe VP of Marketing April 11, 2016
- 2. The Trouble withCooking for Chefs Hi, I’m Elle! – Director of Marketing Programs, Eloqua – Sr. Director of Demand Generation, Lattice Engines – VP of Marketing, LookBookHQ – Two-time Full Circle Insights Customer – Serial #MKTGnerd
- 3.
- 4. Two Flavors ofFull Circle Deployments
- 5. Major Hurdles… 99% OutboundSales Process Messy Infrastructure & Integrations ZERO Documentation Limited Skills & Resources Very High Expectations
- 6. THE REVENUE ENGINE WhatI Want to Build… Repeatable, unified processes & integrated systems lead routing campaign management lead scoring lead nurturing data management reporting & measurement
- 7. What I’m Usedto Having Skills, resources and budget
- 8. What I ActuallyHave…
- 9. Questions I Can’tAnswer… • Are any of our marketing investments paying off? • How long does it take to book a meeting or close a deal? • Which BDRs are most effective at booking meetings? • Where do all our disqualified leads and opportunities go? • How much pipeline do we really have? MURKY
- 10. Oh, and bythe way….
- 11. One Audacious Goal Transformour approach to selling From primarily outbound - BDR-driven - Cold calling To at least 50% “inbound” - Marketing-driven - Lead qualification
- 12. My 5 PartPlan… No Problem! 1. Demand Funnel: Create a lead management framework 2. Technology Optimization: Re-architect marketing & sales infrastructure 3. Messaging: Create a new messaging framework & design a new website 4. Buyer’s Journey: Develop content pillars & fill gaps in the buyer’s journey 5. Fill the Funnel: Test some stuff & determine the ideal marketing mix FOCUS
- 13.
- 14. Tail Wagging theDog? CHRIS
- 15. A Big Leapof Faith aka - Rip Off the Band-Aid • Clean slate! • Informed lead & campaign management decisions • Re-built SFDC integration • Documentation & clarity • Empowered users Marketo Migration
- 16. Original “Process” The World’sFlattest Funnel Lead / Cold Call Opportunity Accepted/Rejected Pipeline Any Demographic/Activity Basic Demographic Fit Discovery Meeting Scheduled Discovery Meeting Successful Some Next Step Scheduled
- 17. New Funnel Definitions Simple,Streamlined, Small Changes MQL / SGL SAL SQL SQO Min. Score = 50 Target Account = Active Effort Lead is Valid / BDR is Working Discovery Meeting Scheduled Successful Disco/Next Step/50% Op
- 18. Process Architecture Stuff WeNeeded to Change & Build MQL / SGL SAL SQL SQO Lead Scoring Target Accounts Sales Campaigns Lead & Contact Statuses Recycle / DQ Dispositions Disco Call Process First Owner Tracking Opportunity Stages Recycle / DQ Dispositions
- 19. Okay, Let’s DoThis! Wha, wha, wha…
- 20. Start with theEnd in Mind
- 21. Immediate Insights! MQL /SGL SAL SQL SQO MQL Volumes / Sources Process Efficiency BDR Effectiveness Lead Quality & Scoring Calibration Lead Source Quality Campaign Influence / Pipeline Value AE Success Rates Lead Conversion Velocity BDR / Target Account Efficiency
- 22. L2R – WeeklyLeadership Meeting What We Review: • Rolling 12-Week Funnel • Sales Progress • Sales Efficiency • Red Flags • Quarterly Roll Up WHO: CEO, Director of Sales, Director of Inside Sales WHAT: Weekly process and metrics review WHEN: Every Monday morning HOW: Marketing and sales diagnostic
- 23. Some Cool StuffWe’ve Learned Inbound vs. Outbound Performance Conversion: SQL – SQO Marketing vs. Sales Sourced Velocity: SQL – SQO Sales vs. Marketing Sourced Conversion: SQO – Active Pipe Sales vs. Marketing Sourced +15% 1/2 3X
- 24. V Validating Our ValueProp 2.4X More Likely to be Sales Ready LookBookHQ Analytics FMBs:
- 25. Tracking Fast MovingBuyers
- 26. Engagement Tracking inLBHQ Sales Readiness = HIGH Sales Readiness = MEDIUM Sales Readiness = LOW
- 27. Making Engagement Actionable Asset> Engagement Threshold > Lead Score
- 28. What Did WeLearn? What Does it Mean? • FMB thresholds are too low – not capturing true intensity • FMB criteria must include some demographic component 20% of all MQLs exhibited FMB behavior 57% of all FMBs became MQLs 10% of all FMBs were Accepted by Sales 43% of FMBs Didn’t Enter the Funnel
- 29. Don’t Market Withouta Net Better Living Through Better Reporting.
- 30. Lessons Learned /Keys to Success Include a “voice of sales” – not all the voices Position as a value add, not a massive change Resist the urge to over complicate and over deliberate Find an executive sponsor, keep them engaged, make it central to their lives Give to get… it’s not all about marketing but it is about all of marketing Don’t be the bottleneck… part time efforts get part time results
- 31.