Rethinking the funnel - DMA 2014

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For many years, marketers have used the framework of the "sales funnel". But, in the today's business environment, the traditional sales funnel has become obsolete. Customer journeys are increasingly complex for marketers to understand and vary dramatically by industry, by company, by function and by individual. The traditional funnel is actually more like a cocktail shaker. The customer gets dumped in, swirls around in information for a period of time and then gets poured out. For marketers, this creates both challenges and opportunities that will be discussed during this session.

Business

Rethinking the Sales Funnel
Jeff Perkins
VP of Marketing and Inbound Sales
PGi
October 2014

ABOUT ME
Pic of kids
#DMA14 @jeffperkins8

@jeffperkins8
www.linkedin.com/in/jeffperkins1
www.slideshare.net/JeffPerkins1
SingleMindedProposition.com
#DMA14 @jeffperkins8

WE LOVE ACKROYNMS!
NPS LTV
BOFU
#DMA14 @jeffperkins8
SEO
PPC
CPC
CPA
CPM
SAL
MQL
CRM
MOFU
BR
SQL
TOFU
TOFU
CTA CLV KPI
ROI
RT
SLA

TRADITIONAL
SALES FUNNEL
#DMA14 @jeffperkins8

Source: 2009 J. D. Power & Associates Web Site Performance Study
Three months
from purchase:
2.3
Five months
from purchase:
2.0
During the month
of purchase:
3.5
How many cars do you consider
while shopping?
#DMA14 @jeffperkins8

A Tale of 3 Buyers
Customer #2
Entrepreneur starting a
new business
• Visited PGi.com.
• Talked to a rep 12 times
over 3 months.
• Eventually did a trial.
• Signed up for 1 license.
Customer #1
VP of a mid size
company
• Signed up online for a free
trial.
• A week later downloaded
an eBook.
• A week later called a rep
to sign up for 5 licenses.
Customer #3
Mid-level manager of
a small company
• Visited PGi.com.
• Did an online chat with
a rep.
• Signed a 10 license deal
the same day.
#DMA14 @jeffperkins8

Real buyers are not “personas”. They bring their own
style and sensibilities to the purchase process.
#DMA14 @jeffperkins8

IS THE FUNNEL DEAD?
#DMA14 @jeffperkins8

You Want the Truth?
Every customer journey
has a beginning and an
end.
But what customers do
during the “middle” is
often complicated and
unpredictable.
#DMA14 @jeffperkins8

The Sales “Cocktail Shaker”
#DMA14 @jeffperkins8

WHERE DO WE GO NOW?
#DMA14 @jeffperkins8

4 keys to success in the “Cocktail Shaker”
1. Rethink your digital presence
2. Engage online
3. Enable a chose your own adventure journey for
your customers
4. Be Responsive
#DMA14 @jeffperkins8

Only 2% of cold calls result in an appointment
(Source: Leap Job)
3% of emails result in a click (Source: Mail Chimp)
#DMA14 @jeffperkins8

YOUR CUSTOMERS JUST AREN’T THAT INTO YOU
#DMA14 @jeffperkins8 22

Your prospects are
70% of the way
through the sales
process before they
engage a rep.
#DMA14 @jeffperkins8

WHAT ARE THEY DOING
70%OF THE TIME?
#DMA14 @jeffperkins8

ONLINE RESEARCH
#DMA14 @jeffperkins8
Source: Google & Compete B2B Customer Study June 2013

MEET YOUR NEW SALES REP
#DMA14 @jeffperkins8

80% of your online visitors will watch a
video, while only 20% will actually read
content in its entirety.
People are 64% more likely to buy a
product after watching a video.
http://www.digitalsherpa.com/blog/25-amazing-video-marketing-statistics/
#DMA14 @jeffperkins8

Better Engagement. Better Results.
Pages with video dive higher conversions
#DMA14 @jeffperkins8

A/B Testing to improve conversions
#DMA14 @jeffperkins8

If you follow up with web leads within 5 minutes,
you’re 9 times more likely to convert them.
Source: InsideSales.com
#DMA14 @jeffperkins8

1. Rethink your digital
presence
2. Engage online
3. Enable a chose your
own adventure
journey for your
customers
4. Be Responsive
#DMA14 @jeffperkins8

DMA SHOW DISCOUNT
JEFF.PERKINS@PGI.COM
#DMA14 @jeffperkins8

THANK YOU
Jeff Perkins
VP of Marketing and Inbound Sales
PGi
October 2014

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Rethinking the funnel - DMA 2014

1. Rethinking the Sales Funnel Jeff Perkins VP of Marketing and Inbound Sales PGi October 2014

2. PGPi Gi

3. ABOUT ME Pic of kids #DMA14 @jeffperkins8

4. @jeffperkins8 www.linkedin.com/in/jeffperkins1 www.slideshare.net/JeffPerkins1 SingleMindedProposition.com #DMA14 @jeffperkins8

5. #DMA14 @jeffperkins8

6. WE LOVE ACKROYNMS! NPS LTV BOFU #DMA14 @jeffperkins8 SEO PPC CPC CPA CPM SAL MQL CRM MOFU BR SQL TOFU TOFU CTA CLV KPI ROI RT SLA

7. TRADITIONAL SALES FUNNEL #DMA14 @jeffperkins8

8. #DMA14 @jeffperkins8

9. Source: 2009 J. D. Power & Associates Web Site Performance Study Three months from purchase: 2.3 Five months from purchase: 2.0 During the month of purchase: 3.5 How many cars do you consider while shopping? #DMA14 @jeffperkins8

10. #DMA14 @jeffperkins8

11. A Tale of 3 Buyers Customer #2 Entrepreneur starting a new business • Visited PGi.com. • Talked to a rep 12 times over 3 months. • Eventually did a trial. • Signed up for 1 license. Customer #1 VP of a mid size company • Signed up online for a free trial. • A week later downloaded an eBook. • A week later called a rep to sign up for 5 licenses. Customer #3 Mid-level manager of a small company • Visited PGi.com. • Did an online chat with a rep. • Signed a 10 license deal the same day. #DMA14 @jeffperkins8

12. Real buyers are not “personas”. They bring their own style and sensibilities to the purchase process. #DMA14 @jeffperkins8

13. IS THE FUNNEL DEAD? #DMA14 @jeffperkins8

14. #DMA14 @jeffperkins8

15. You Want the Truth? Every customer journey has a beginning and an end. But what customers do during the “middle” is often complicated and unpredictable. #DMA14 @jeffperkins8

16. The Sales “Cocktail Shaker” #DMA14 @jeffperkins8

17. WHERE DO WE GO NOW? #DMA14 @jeffperkins8

18. 4 keys to success in the “Cocktail Shaker” 1. Rethink your digital presence 2. Engage online 3. Enable a chose your own adventure journey for your customers 4. Be Responsive #DMA14 @jeffperkins8

19. 4 keys to success in the “Cocktail Shaker” 1. Rethink your digital presence 2. Engage online 3. Enable a chose your own adventure journey for your customers 4. Be Responsive #DMA14 @jeffperkins8

20. THE GOOD OLD DAYS #DMA14 @jeffperkins8

21. Only 2% of cold calls result in an appointment (Source: Leap Job) 3% of emails result in a click (Source: Mail Chimp) #DMA14 @jeffperkins8

22. YOUR CUSTOMERS JUST AREN’T THAT INTO YOU #DMA14 @jeffperkins8 22

23. Your prospects are 70% of the way through the sales process before they engage a rep. #DMA14 @jeffperkins8

24. WHAT ARE THEY DOING 70%OF THE TIME? #DMA14 @jeffperkins8

25. ONLINE RESEARCH #DMA14 @jeffperkins8 Source: Google & Compete B2B Customer Study June 2013

26. MEET YOUR NEW SALES REP #DMA14 @jeffperkins8

27. 4 keys to success in the “Cocktail Shaker” 1. Rethink your digital presence 2. Engage online 3. Enable a chose your own adventure journey for your customers 4. Be Responsive #DMA14 @jeffperkins8

28. #DMA14 @jeffperkins8

29. #DMA14 @jeffperkins8

30. 80% of your online visitors will watch a video, while only 20% will actually read content in its entirety. People are 64% more likely to buy a product after watching a video. http://www.digitalsherpa.com/blog/25-amazing-video-marketing-statistics/ #DMA14 @jeffperkins8

31. #DMA14 @jeffperkins8

32. #DMA14 @jeffperkins8

33. #DMA14 @jeffperkins8

34. #DMA14 @jeffperkins8

35. #DMA14 @jeffperkins8

36. Better Engagement. Better Results. Pages with video dive higher conversions #DMA14 @jeffperkins8

37. #DMA14 @jeffperkins8

38. A/B Testing to improve conversions #DMA14 @jeffperkins8

39. 4 keys to success in the “Cocktail Shaker” 1. Rethink your digital presence 2. Engage online 3. Enable a chose your own adventure journey for your customers 4. Be Responsive #DMA14 @jeffperkins8

40. #DMA14 @jeffperkins8

41. #DMA14 @jeffperkins8

42. #DMA14 @jeffperkins8

43. #DMA14 @jeffperkins8

44. #DMA14 @jeffperkins8

45. #DMA14 @jeffperkins8

46. #DMA14 @jeffperkins8

47. #DMA14 @jeffperkins8

48. #DMA14 @jeffperkins8

49. 4 keys to success in the “Cocktail Shaker” 1. Rethink your digital presence 2. Engage online 3. Enable a chose your own adventure journey for your customers 4. Be Responsive #DMA14 @jeffperkins8

50. If you follow up with web leads within 5 minutes, you’re 9 times more likely to convert them. Source: InsideSales.com #DMA14 @jeffperkins8

51. 1. Rethink your digital presence 2. Engage online 3. Enable a chose your own adventure journey for your customers 4. Be Responsive #DMA14 @jeffperkins8

52. DMA SHOW DISCOUNT JEFF.PERKINS@PGI.COM #DMA14 @jeffperkins8

53. THANK YOU Jeff Perkins VP of Marketing and Inbound Sales PGi October 2014

Editor's Notes

The more satisfied customers were the ones we were doing more training with. But, it’s hard to do training for 20,000 customers across the country.
The traSitional sales tactics are not less effective than they used to be. They literally NOT effective.

Rethinking the funnel - DMA 2014

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Editor's Notes