Webinar: True Cost of Calling Every Lead
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Many sales and marketing teams establish an agreement that all leads must be called. Yet as inbound lead volume increases this can be unachievable without adding more and more headcount to call all the leads. There’s a better way.
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Webinar: True Cost of Calling Every Lead
- 1. Webinar: The True Cost of Calling Every Lead
- 2. 2#gotleads Housekeeping If you can see the slides and hear me please raise your hand in the GoToWebinar Dashboard
- 3. Your speakers Jacco van der Kooij Sales Strategy Consultants The Future of Sales is Now Jessica Cross Director of Marketing Fliptop 3 @IndoJacco @jfayesf | @fliptop #gotleads
- 4. Today‟s Webinar Agenda 1. Quarterly Goals 2. Scaling Marketing to Meet Sales Goals 3. Calculating The Cost 4. Q&A To submit questions during the webinar, please tweet them: #gotleads @fliptop 4#gotleads
- 5. Any of these quarterly goals look familiar? Increase marketing qualified leads (MQLs) Increase marketing‟s contribution to pipeline 5#gotleads
- 6. 6#gotleads • Last month I did $100k and used 200 MQLs Q2 Goal: I need 2,000 MQLs!
- 7. Quarterly Goals x,xxx MQLs Let‟s get MQLs 7#gotleads
- 8. Increase in MQLs – Scaling Problem MQLs Time 500 400 300 200 100 Trad e Even t Web Seminar Peak MQLs 8#gotleads SDR Capacity
- 9. How do you follow-up on a lead? R R R 9#gotleads
- 10. 10#gotleads Research your lead Reference a relevant client Request a follow-up Lead follow-up
- 11. Any of these goals look familiar? • Increase marketing‟s contribution to pipeline 11#gotleads
- 12. Demand Gen Funnel - Ideal conversion rates Awareness Leads MQL SQL Won 40% 25% 5% 5% 12#gotleads
- 13. But what if your funnel looks like this? 13 Awareness Leads MQL 4% 30% 25% 2% #gotleads SQLs Won
- 14. Options to make your quarterly goal 14#gotleads • Buy more leads • Higher more sales reps • Improve MQL to SQL Ratio (conversion rate) • Improve SQL to Close Ratio (win/loss ratio) Costs $$$ and takes months for leads to mature Costs $$$ and takes months to train and ramp
- 15. Calculating the Cost of Calling Every Lead #gotleads 15
- 16. Underlying Assumptions 16 Assumptions Monthly cost for SDR $6,000.00 Calls per day 30 Workable days in a month 22 Leads processed a month 660 #gotleads
- 17. Math Time 17#gotleads Leads Grade A + B Leads Number of Monthly Leads 10,000 4,000 Total Cost to call every lead $90,909.09 $36,363.64 Average conversion rate 5.00% 12.50% SQL 500 500 Pipeline $3,000,000.00 $3,000,000.00 Average Deal Size $6,000.00 $6,000.00 Close Rate 25.00% 30.00% Closed deals $750,000.00 $900,000.00 Head count cost ($90,909.09) ($36,363.64) Margin $659,090.91 $863,636.36 Delta $204,545.45
- 18. 18#gotleads
- 19. Conventional lead scoring looks at just a few data points Industry Marketing activity Job title Location Budget Company size #gotleads 19
- 20. Lead Scoring Industry Email address Job title Location Budget Company size Gender Marketing activity Funding Hiring Technology Stack Open job postings Social Presence Age Youtube URL Social gender Website form LinkedIn URL Founded Year Email List Tech SEO Company Type Invested Capital Youtube views Traffic Rank Engine Optimizer Facebook Advertiser CRM Software Accepts Payments Tech Media Market Value Social Occupation Facebook Shares Facebook Likes Stocks Twitter URL Net Income Employees Total Twitter Match Score Social Profile Photo Paid Analytics Influence Score Social Presence Website form Social Profile Photo Open Job Postings Funding Business Twitter Followers iPhone App iPhone App Rating Company Age Android App Influence Score Android App Rating Has Website NAICS Code USSIC Code UKSIC Code Industry Ranking Market Capitalization Cash Balance Sales Growth Percentage Publicly listedAge Group Open Management Jobs Open Legal Jobs Employee Count Has Disposable Email Non-Business EmailInvalid Phone Number Uses PHP Uses Apache Content Delivery Network Cross-Browser Compatibility Uses DNS Uses .NET Uses Data Feeds Has Forms Uses PHP Uses JavaScript Uses Slideshows Javascript Menus Name server Parked Domain Influence Score Open Job PostingsEmployee Count Uses Java Name server Engine Optimizer Content Delivery Network Uses Data Feeds Uses Nginx Uses Tooltip Includes Videos Uses Wordpress Employees Total Employee Count Open Production Jobs Android App Engine Optimizer Hiring Tech SEO Traffic Rank Social Occupation Net Income Uses Slideshows Parked Domain Open Job Postings Uses Ajax Uses .NET Publicly listed Non-Business Email Uses DNS Open Military-Specific Jobs Industry Code Engine Optimizer Uses Perl Uses Ajax Uses Apache Open Job Postings Open Job Postings Includes Videos Social Profile Photo Age group Uses Python Uses Tooltip JavaScript Menus Has Forms Open Job Postings Includes Videos Uses DNS Uses Apache Invested CapitalOpen Other jobs 20#gotleads
- 21. The classic process 21 Visit website: +5 points #gotleads
- 22. The Fliptop process Historical Sales 3,500+ Signals / 40+ Data Sources Machine Learning Model Tournament #gotleads 22
- 23. The Fliptop process 3,000+ Signals / 40+ Data Sources Model is ready Scored Lead #gotleads 23
- 24. Works with the technology you already use #gotleads 24
- 25. Case Study 57% Decrease in time to close for new business deals Increase in new business pipeline Amount spent on new headcount to achieve results. 75% $0 Norman Happ Vice President of Sales #gotleads 25
- 26. “Fliptop helped us uncover great leads that had been incorrectly disqualified. It was a „aha‟ moment for sales and marketing.” Rob Bailey CEO Case Study 26#gotleads
- 27. True cost of not calling your A Grade leads • Most likely you already have the leads you need to make your goals • Prioritize sales teams time to call on the Grade A leads first • Opportunity cost of calling on the wrong leads 2727#gotleads
- 28. Want to learn more? Contact us for your own predictive lead scoring model info@fliptop.com 28
- 29. Q&A – 10 Minutes Thank you. Contact us with your questions info@fliptop.com (888) 373-7533 29 Jacco van der Kooij Jessica Cross
Editor's Notes
- Welcome. Good morning good afternoon and good evening.Thank you for joining us today for our webinar. We are excited to share with you today the true cost of calling on every lead. We decided to do a webinar on this topic as we have heard from many customers that they are strugglng to either increase volume of leads, or scaling sales teams to call on every lead. We want to prove there is a better way.
- Before we go any further, I have a couple housekeeping items. Want to make sure everyone can hear me and see the slides. Please raise your hand in the go to webinar dashboard if you can hear us.Please raise your hand in the go to webinar dashboard if you can see us. Great. Let’s get started
- Your speakers today areJacco van der Kooij, dubbed Mr. RedBull, has been working as a sales leader for Silicon Valley start-ups for nearly 20 years. Jacco is passionate about building sales teams that put the client at the center of every process & action, and position sales in a role that helps a client identify and solve problems. Jacco is currently working with Totango, Fliptop, Liftoff, Chartboost, AgileOne, BrightTALK, Nextstage, Prezi,My name is Jessica Cross and I’m the director of marketing here at Fliptop. Previously, I worked at DNN Software, Bazaarvoice, and PowerReviews. I’m also a Marketo Champion and has built at least 3 lead scoring models, 12 nurturing streams, and launched dozens of websites in my time.
- On today’s agenda We are eager to share with you how to calculate the true cost of calling every lead. We chose this topic as we have been hearing time and time again from our customers and prospects that they have SLAs established that sales must call each and every single lead. We want to dispel that notion. We want marketing to give their sales team not just leads, but prioritization. Sales should know which leads should be called on first, that way you can make best use of everyone’s time and maximize the impactWe are interested to hear your thoughts on the matter so please tweet along with us using the hashtag #gotleads You can also post your questions directly in the GoToWebinar module. We will try to get to as many of them at the endWe will be sending out slides and recording to all registrants in the days after this webinar.
- So let’s dive right in. Do any of these quarterly goals look familiar to you?Increase marketing qualified leads and increase marketing’s contribution to pipeline
- So let’s dive right in. Do any of these quarterly goals look familiar to you?Increase marketing qualified leads and increase marketing’s contribution to pipeline
- One great way to do that is to sign up for large tradeshows, such as Marketo Summit. You spend lots of bucks, say 20% of your yearly budget and come home with hundreds if not thousands of leads. The goal is - of course to recoup double if not triple the cost of the event in new customersSounds easy enough, right?
- So you go to thislarge event and bring home 1,000 leads and load them all in to the system at once. Then it will take your team of SDRs take weeks to call on every lead.How do they decide which leads to call first?Probably alphabetically, maybe they pick which company name they recognize and decide to call on that one first. They have their quarterly goal to make as well by booking X number of meetings every month. Here is the flaw in this model. Your organization is not built on peak demand.MQL flow is not constantEvents bring in hundreds of leadsNeed ability to prioritize large lists. If you don’t have any prioritization you are relying on junior reps to make a judgement call. Timing is everything, if you don’t hit the right lead at the right time, you might miss your windowIf you are trying to call all at the same time, you probably are not giving yourself enough time for proper preparation to make a good call. The three Rs are criticalResearch, Reference and Request.
- And how about this goal, increase marketing’s contribution to pipeline?
- And how about this goal, increase marketing’s contribution to pipeline?
- And how about this goal, increase marketing’s contribution to pipeline?
- So if you want to increase marketing's contribution to pipeline, you theoretically add more leads to the top of the funnel, and in a perfect world the leads will work their way through your marketing and sales process and become happy customers.
- But what if your funnel looks like this? Where the MQL to opps ratio is really pinched! Say it’s less than 2%. That is a chock point to your funnel and you can add thousands of leads at the top of the funnel but very few will make their way to becoming a customer.So how are you going to meet your quarterly goal?
- So we just showed how buying more leads and hiring more reps is
- Now if Jacco’s points weren’t compelling enough, I’m going to try and break down the math of why we don’t want
- For the majority of our customers, we found that the bulk of their closed won business comes from only a portion of their leads. For one customer we found that 86% of their business came from only 40% of their opportunities.Additionally we found the ASP was 1.16 times higher
- The conventional lead scoring that I have been talking about up till now typically takes into consideration 20-30 demographic indicators into what builds a score. By mining the data inside your CRM and data available on the public web, predictive lead scoring can factor in 500+ different data points to build a scoring model.
- By mining the data inside your CRM and data available on the public web, predictive lead scoring can factor in 3500+ different data points to build a scoring model.
- So what we do is predictive lead scoring.What makes it predictive you may ask?Well here is the conventional model of scoring. A lead visits your website, interacts with your content, gets scored by your marketing automation system and is written into salesforce for the rep to call on.
- With Fliptop, We start by looking in our CRM first so we can figure out what success looks like. We look at all closed won and closed lost opportunities to figure out the ideal customer. We then map all those opportunities back against 3,500+ data signals and 40+ data sources to find the commonalities. Then we build a couple predictive model, and put them against each other in a machine learning model tournament to see which is most predictive to your business. Then we apply scores, 1-10 to all leads based on if they have the same data points and signals that are present in your predictive mod
- If you want to see these kind of results for your business, contact us for your own predictive model. Our customers are seeing return on their investing in months. Not quarters or years. If you are a salesforce and marketo user we can automatically connect to your database to build a predictive model and score ALL your leads.
- Welcome. Good morning good afternoon and good evening.Thank you for joining us today for our webinar. We are eager to share with you the science behind predictive lead scoring.