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Why It Takes 7-13+ Touches to Generate a Qualified B2B Sales Lead Today

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Why It Takes 7-13+ Touches to Generate a Qualified B2B Sales Lead Today

  1. 1. Why It Takes 7-13+ Touches to Generate a Qualified B2B Sales Lead Today Laurie Beasley, President, Beasley Direct Marketing, Inc. Tom Judge, VP Strategy and Business Development, Direct Marketing Partners, Inc.
  2. 2. Part 1: Why So Many Touches?
  3. 3. Why So Many Touches? Its not easy generating the “sales-ready” leads
  4. 4. B2B Marketing Challenges Top 2 = our focus
  5. 5. Top 3 Strategic B2B Marketing Objectives for 2013 Source: 2013 CSO Insights Lead Management Optimization Study, Key Trend Analysis
  6. 6. The Goal of Demand Generation is Sales! However…  The CSO Insights annual survey uncovered problems  The average number of reps making quota was 63% for 2012  Only 42% of firms met or exceeded their 2012 revenue goals Source: CSO Insights Sales Performance Optimization Study, 2013 Key Trend Analysis. .
  7. 7. 7 1. Marketing generates a lead with basic interest, not ready to engage a sales rep 2. Sales teams reject unqualified leads, feels disconnected, requests “sales-ready” leads 3. Few actually convert and the numbers are unsustainable Current marketing focus Current sales focusThe B2B lead development gap Issue 1: Marketing hands off Leads too early. Unqualified Leads waste sales’ time. Issue 2: Sales cherry picks leads, letting longer-time-frame leads leak out.Issue 3: Marketing spends More $ to replace lost leads. Reach Interest Desire Convert Enrich Retain Warm leads leak out Gap in The Middle of the Funnel is Costing Time & $ Money Source: Forrester October 2006, Best Practices “Improving B2B Lead Mgmt” Forrester: Low Quality Sales Leads Create Sales Problems Symptoms: Few conversions into customers
  8. 8. Challenge: How Can We Improve Our Multi-touch Lead-To-Sales Results? Here are some best practices and multi-touch cases that improve lead quality
  9. 9. Start with the end in mind: •Review historic sales data •Segment by customer types •Review profitability data Assess your TAM: •Review the resources it will take to acquire Align sales and marketing AND management •Sales team agreement down to rep level •Senior management agreement •Document the profiles •Obtain sales or channel rep SLA sign offs that they will engage 1. Start With the End in Mind. Create a Perfect Prospect Profile
  10. 10. Digital/Online: •Digital profile, Segment •Web content activity •Trigger events Non-Digital/Peer-to-peer: •Needs, Plans & Business pains •Role in the buying process, Compliance issues •Access to funding •Size of opportunity •Time frame and Urgency •Willingness to move forward and engage with sales? 2. Clearly define the “Sales-Ready Qualified Lead” (which can blossom into your perfect customer)
  11. 11. Advanced Lead Rating & Scoring Criteria 11 Tip: Combine digital and off line BANT Plus data points into your scoring
  12. 12. Sample of “BANT+ Sales-Ready” Lead Data Detailed background information on the prospect and the selling opportunity helps drive more productive sales results
  13. 13. 3. Create A Lead-To-Sales Requirements Calculator Sample Lead Requirements Calculator Scenario Requirements ANNUAL SALES REVENUE GOALS: $13,000,000 Sales Revenue Goals/Quarter $3,250,000 Revenue per sale $115,000 # Closed Sales Required/QTR 28.3 Or 9.3 Closes/mo. Estimated Closed Rate on Pipeline Proposal Opportunities 25% # Qual Leads That Must Convert to Pipeline Proposals/QTR 113 Est. forward conversion rate fromsales-readylead into Pipeline 40% # Qualified Sales -ReadyLeads Required per Quarter (Prospects meeting sales-readycriteria) 283 # Qualified Sales-ReadyLeads Required per Month (Prospects meeting sales-readycriteria) 94 TomJudge, All Rights Reserved, Copyright Protected
  14. 14. 4. Create Your Lead Gen Plan to Fill the Funnel Sales Lead Campaign Planning Model: DM + EM + OB Tele-qualification nurturing sequences Metrics B A Funnel Model Campaign Plan A Monthly: Various Email marketing broadcasts to house lists 20,000 Estm. Inquiry Response Rate: 2% Landing Page X 25% submit form 0.50% Estm. # IB Inquiries Received (Not Yet Qualified) 100 B Monthly: Direct Mail campaign 7,000 Estm. Inquiry Response Rate: 6% to Landing Page & 25% submit & BRC combined 1.50% Estm. # IB Inquiries Received (Not Yet Qualified) 105 Estm. Lead Tele-Qualification Conversion Rate into Sales-Ready lead stage: 10.00% Ttl. Hr. C Metric: Estm. OB Tele-qualification calls to IB responders/mo. 720 18.0 Metric: Estm. OB Tele-qualification calls to non-responders/mo. 7704 4.00 Metric: Tele-qualification completed interviews/hr. (Fully presented & profiled)/hr. 2.00 Estm. OB Tele-qualification calling hrs/mo. to IB inquiry responder group 40.00 Estm. OB Tele-qualification calling hrs/mo: To Non-responder group 428.00 Estm. Total Tele-Qualification interviews/scripts completed/mo. 936 Estm. # pre-qualified sales-ready leads/mo. From Responder group: 8 Estm. # pre-qualified sales-ready leads/mo. From Non-responder group: 86 Total Leads Per Month Pre-Qualified for Sales: 94 Revenue D C Estm. Budget Month 1: TeleQualification $33,400 Prog Mgmt, QC, reporting, incl. # of Qualified Sales-Ready "A" Leads Generated/Mo: MQL 94 Tele Qual set up $1,500 Estm. Pipeline Value Created/mo. (Using ASP $115k) $10,764,000 Dir Mail Creative $38,182 One time Estm. Lead "Conversion into Sales Pipeline Opportunity" Rate 40.0% Dir Mail + Postage $27,000 Estimate $4x6700 # of Leads Reaching Sales Forecast/Proposal/mo. 37 Email LP Creative $0 Included in Dir Mail Creative cost Estimated proposal pipeline value created per month $4,305,600 Premium $5,600 Estimating $20 x 280 A leads Estm. Close % on Sales Pipeline Opportunities: 25.0% Lists (em bcast TM) $0 House # Deals Closed/Month 9.4 $105,682 Average Sales Price Range (Initial Sale Revenue) $115,000 Estm. Revenue Generated/Year from each month's pipeline: $1,076,400 Month 2: TeleQualification $33,400 Prog Mgmt, QC, reporting, incl. Mo. 1 Tele Qual set up $0 Estm. Budget/Month: $105,682 Emarketing $0 Included in SOW Cost per Qualified Sales-Ready "A" Lead: $1,129 Dir Mail + Postage $27,000 Estimate $4x6700 Cost per Proposal Pipeline Lead: $2,823 Lists (em bcast TM) $0 Assumes Publisher sends Estm. Revenue ROI on each $ Invested: $10.19 to $1 $60,400 Mo. 2, 3 Month3: TeleQualification $33,400 Prog Mgmt, QC, reporting, incl. Estm. Budget/Month: $60,400 Tele Qual set up $0 Cost per Qualified Sales-Ready Lead: $645 Emarketing $0 Included in SOW Cost per Proposal Pipeline Lead: $1,613 Dir Mail + Postage $27,000 Estimate $4x6700 Estm. Revenue ROI on each $ Invested: $17.82 to $1 Lists (em bcast TM) $0 Assumes Publisher sends $60,400 Tom Judge Quarterly Budget $226,482 All Rights Reserved Copyright Protected
  15. 15. 5. Target Prospect Data  Tip: Create a process to improve prospect data  Action item: Make the courageous move to fix and standardize the prospect database Hint: This is a never ending task
  16. 16. 6. Segment Your Target Markets  Tip: Segment your target markets into smaller more manageable target sub segments. Don’t boil the ocean.  Action item: Compare campaign performance by segment to identify better performing markets to focus resources better
  17. 17. Common Segmentation for B2B Single Product Segmentation Example - Business services with multiple decision makers/influencers Customers Prospects Financial Automotive Non Profit Non Profit Small, Medium, Large VP Marketing VP ProductionCFOCEO 2x 3x 3x 4x = 72 Segments Business Universe Financial Automotive
  18. 18. 7. Nurturing: Suspects Develop Into Prospects Over Time  Tip : Prospect Nurturing is critical. B2B Prospects DO NOT provide full BANT needs and scoring information in 1 touch! Lesson: You must earn the right to ask the important questions!
  19. 19. Value of Nurture Process Contact # 1 Contact # 2 Contact # 3 Contact # 4 Contact # 5 Contact # 6 Contact # 7 Contact # 8 Contact # 9 Contact # 10 Contact # 11 Contact # 12 Prospect Customer 50% of sales people have given up 65% of sales people have given up 89% of sales people have given up Just now you are becoming a factor in your prospect’s mind Nurturing slowly, your prospect gets to know you You are probably the only person to make 8 contacts with this person 79% of sales people have given up You harvest low hanging fruit You are earning top of mind awareness At this point when you prospect is ready to buy, you have a 90% chance of being called *Microsoft study
  20. 20. 8. Story Tell With Your Content  Tip: Sync up relevant content with personalized messaging to tell your compelling story, differentiate and establish your brand as one they want to put on their short list Action item: Create a relevant content to earn the right to ask the tough qualification questions you need gathered to qualify
  21. 21. 9. Offers DO Matter  Tip: Use a compelling offer with staying power.  Action item: ALWAYS OFFER something of perceived value
  22. 22. Business to Business Offers & Content Offer Responsivenes s (1-5) Qualified(1-5) Optimum Offers ROI calculators 3 5 15 Whitepapers/ Guides 3 4 12 Case studies 4 3 12 “Relevant” giveaways 4 3 12 Video clips or demo 4 3 12 Webinars 2 5 10 Live events 1 5 5 Free giveaways 5 1 5 Tradeshows 2 2 4
  23. 23. Tip : Make the offers consistent across media
  24. 24. 10. Urgent Calls to Action  Tip: Make your call-to-action progressively more urgent as the campaign proceeds.  Action item: Emphasize urgency as an upcoming compliance or deadlines approach. You can also use discounts with limited time offers as your deadline.
  25. 25. 11. Dispelling the Marketing Automation “Solves it All” Myth Sirius Decisions has now inserted Tele-qualification to increase the sales qualification information gathered & to boost lead quality & conversions
  26. 26. Common Problems We See With Marketing Automation  Marketing automation is dependent on lead forms being filled out. Lead form submit rates are declining.  Difficult if not IMPOSSIBLE to get BANT criteria from lead forms (even when using progressive profiling)  Lots of unqualified leads rattling around with no one doing anything with them.  99% of your true prospects haven’t filled out a form or come to your website. You need to target key decision makers with your value proposition.
  27. 27. 12. Relationships: People Buy From People  Tip: To accelerate b2b prospect lead development, include tele-qualification in the touch process  Action item: We suggest running a three-month A/B test using email + telemarketing in the lead nurturing and qualification process and measure the ROI.
  28. 28. 13. Track All Touch Metrics  Tip: Analyze KPI metrics in light of the original touch plan & make refinements during campaigns Action item: Analyze results metrics from end to end. Adjust tactics to improve each metric along the way to a better outcome.
  29. 29. 14. Put in Place Comprehensive Lead Management Resources  Tip: Implement a lead mgmt. system & team that gives you end-to-end visibility into all of your campaigns Action item: Have the right talent and executive dashboard reporting tools to manage your lead funnels and make revisions. .
  30. 30. Part 2: Multi-Touch Case Studies
  31. 31. What Are the 7-13 Touches?  1: Initial email campaign  2: Initial direct mail campaign  3: Prospect not there, leave a message  4: Send email follow up  5: Prospect not decision maker, referred to another  6: Start over calling to person you’re referred to  7: Send email follow up  8: Prospect not able to talk then, schedule another time  9: Send email follow up  10: Prospect interested, but wants more information before a call is completed  11: Send email follow up  12: Prospect ready to talk about their needs, and discusses budget, purchase authority, need, and timeframe.  13: Follow up call to schedule appt. with sales rep
  32. 32. Wow, 13 Touches is A LOT! How do we shorten it?  The 3 ways to Shorten the Lead Development Timeline: 1.Better list 2.Better offer 3.Better creative (attracts busy person’s attention). BTW…Direct mail is good for this!
  33. 33. Why it’s Important to Send an Email or Direct Mail Before Calling  You CAN do cold calling alone without sending a campaign in advance. Lots of people do it. However, their productivity may be low.  We have found sending out an email and/or direct mail before a campaign can make it 30-40% more productive, and save in tele-prospecting expenses.  Why? Two reasons:  You can triangulate from an email or direct mail to draw the prospect into the conversation.  If they’ve read the email or direct mail before you call, they’re much more informed and can more clearly define their needs
  34. 34. Case 1: Superior Glove Corp.  VP of Sales read the DMP/Beasley Direct case study in first chapter of this book, and voila! he called me.
  35. 35. Superior Glove • Leading industrial glove manufacturer • Average value of new glove customer account: $50,000/yr • Target: safety/operations/purchasing decision makers in metal manufacturing industries • Goal: $2.5 million in incremental sales for this product line • Tried everything: PPC, email, tradeshows • Couldn’t get enough “qualified” sales opportunities coming in to hit their numbers • What to do next?
  36. 36. Sales Funnel Needs  $2.5 million in sales/$50,000 per sale = 50 closed sales (@ 20% close rate)  You’d need 250 qualified sales opportunities at proposal stage (25% convert to proposal)  You’d need 1,000 “Qualified A” leads in the sales team pipeline (10% convert into “qualified A leads” and go to sales)  You’d need 10,000 marketing level leads in the demand generation process
  37. 37. Could Email Alone Get Him There? Let’s give him a hand… • Let’s assume available list universe of safety/operations people = 7,500. If he emailed all 7,500 and got 1% inbound response = 75 and 50% of those fill out form = 35 marketing level leads. • He’d have to mail this list at least 285 times to get the 10,000 marketing level leads in the pipeline. (Probably more because he wouldn’t get 1% inbound response each time.) • No, email alone will not achieve sales goals
  38. 38. Solution: Multi-Touch & Multi-Channel  Email + tele-prospecting sequences  Lead nurturing until qualified & put a voice and personality with the relationship  People buy from people they like and this differentiates them  This also yields a better conversion rate  Test two offers: Book vs. free glove  Test two lists: House vs. rental list
  39. 39. Tested Free Glove Offer vs. Book Offer
  40. 40. Superior Glove Campaign Touch Count Per Qualified Lead SuperiorGloveLeadsTouches ProgramthroughDecember7th ALeads List TotalLeads DialsPer Lead Emails Per Lead TTL Touches per Lead AverageTouchesPer Lead House List Glove Offer 8 3,5,2,2,1,1,5,1 1,1,1,1,1,1,1,2 29 3.63 House List Book Offer 9 4,5,1,2,3,4,1,4,1 1,1,1,1,1,1,1,1,1 34 3.78 Metal Stamping Glove Offer 1 5 1 6 6.00 Metal Stamping Book Offer 8 1,1,6,1,3,1,2,2 1,1,1,1,1,1,1,2 26 3.25 Communications Unknown 28 2,3,3,1,1,1,1,1,1,4,4,5 2,2,2,2,2,2,1,1,1,2,2 131 4.68 Communication Tier 1 15 7,3,1,3,2,2,2,4,3,2,1,2,3,3,8 1,1,1,1,1,1,1,1,1,1,12,2,2,2, 66 4.40 ISHN 2 8 0 8 4.00 ISHN_11_7_12 16 3,1,1,9,1,1,2,1,5,4,2,1,5,4,2,1,5,1,1,2,1 1,1,1,1,2,2,1,1,1,2,1,1,1,2,2,1, 72 4.50 87 187 91 372 4.28
  41. 41. Four to Five Touch Points Required  4 to 5 touches, to be exact  This involves:  1. Initial email campaign  2. Initial call (Left voice message or directed to proper contact)  3. Call to engage new contact in the value prop and offers  4. Email to contact  5. Call to complete qualification script, and if qualified then close on Superior Glove sales rep appointment
  42. 42. Case 2: Silver Peak • WAN (wide area network) optimization • Entrenched competitor: Riverbed • Very complex sale to over- busy IT • “Pain” is felt when applications run too slowly on network. But isolating the speed issue difficult, and often trumped by other priorities
  43. 43. Silver Peak  Have been doing email, webinars, PPC, trade shows.  Top of funnel demand gen focused  Large buckets of unqualified leads in Salesforce account.  Lead management issues  No formal process in place for tele-qualifying inbound leads or generating qualified sales opportunities  Mid funnel problem similar to Forrester example
  44. 44. Silver Peak Solution Pilot Program  Clearly defined sales ready criteria  Multi-touch approach implemented + nurturing to develop prospects until they qualify  Test two offers: Gartner Magic Quadrant report vs. on-demand webinar featuring Gartner analyst  Test three lists: House lead file vs. Rental file of Riverbed sites vs. webinar/seminar attendee file  As program rolled out, webinar registrants/attendees & inbound responders were also nurtured until qualified
  45. 45. Which Offer Worked?  Both  It was nearly a 50/50 split
  46. 46. Which Lists Worked?  All of them!!!  But some worked better than others. How do we know? Metrics… We tracked the number of contact attempts required to reach IT titles from each list.
  47. 47. Silver Peak Campaign Touch Count Per Qualified Lead SilverPeakLeadsbyTouchCount List TotalLeads OutboundCallsPerLead Emails PerLead TotalTouches perLead AverageTouchesPer Lead Dallas L&LResponders 8.24.12 8 4,9,6,3,4,9,9,8 1,3,3,2,2,4,4,4 75 9.38 HouseList_Webinar_SP 14 4,1,5,2,11,4,3,13,5,7,1,9,22,9 2,0,2,1,4, 2,1,4,2,3,0,4,7,4 132 9.43 HouseList_WhitePaper_SP 10 17,5,10,3,7,3,8,3,5,6 4,2,3,1,2,1,4,2,3,6 95 9.50 ITW SocialHub071512 7 7,4,4,2,2,22,6 3,2,2,1,1,8,3 67 9.57 MLLeads June2012 5 2,13,9,3,5 1,4,1,1,2 41 8.20 Opens_7_19_12 1 3 1 4 4.00 Regs 07_22_12 2 6,6, 3,2 17 8.50 Report_Rental_SP 0 SP&D_AttendedWebinarFT 8 1,1,5,2,2,1,2,2 0,0,2,1,1,0,1,0 21 2.63 SP&D_WebinarAttendee_NFT 8 1,6,2,1,1,1,1,2 0,3,0,0,0,0,1 19 2.38 Webinar_Rental_SP 2 10,2 4,1 17 8.50 65 343 145 488 7.51
  48. 48. Observation: Average Range of 2 to 9 Touches • Program wide, it required an average of 7.51 touches (via telephone and email) per contact to convert to a sales-ready defined quality lead. • Silver Peak webinar and live seminar lists representing the low end of the spectrum at 2.50 touches (Best) • Silver Peak house file and Riverbed rental file at the higher end at 9.46 touches per lead. • It is also worth noting that this average does not account for calls required to identify and validate a contact prior to becoming a prospect. • For example, it might require a phone call or two to gain a referral identifying the appropriate contact. This is critical as many lists have the outdated record problems mentioned.
  49. 49. Patience, patience, patience • Did this program show immediate results? Not exactly. • 1 qualified lead was generated during the first 75 hours of the program • During the initial 50 hour development and roll out phase, several challenges were identified, including low initial response rates to the message when contacting non- responders, difficulties in gaining contact referrals and minimal receptivity to initial messaging • Refinements to messaging and follow up calls to engage prospects were needed because the IT targets were busy and had a different way of perceiving the messaging and value props. These prospects were only concerned about their own schedules, so setting call back times and sending a relevant email proved critical to engaging, establishing a trusted relationship and discussing their needs. Then BINGO!
  50. 50. How we fixed it… Listening and Revising! • More product training for callers was scheduled and completed to improve call dialogue and overcome objections that stonewalled conversations. • Competitive comparisons with Riverbed were re- positioned. Silver Peak was presented as a solution to system issues encountered by Riverbed users, rather than as a competitor of Riverbed. • Emails were sent by members of the Calling Team that included White Papers, and Case Studies as well as On-Demand Webinars designed to refine sequential touch points, improving the quantity and quality of program dialogues. This helped establish a nurture sequence designed to educate prospects on the viability of Silver Peak’s offerings.
  51. 51. Q&A Laurie Beasley lbeasley@beasleydirect.com Direct: 408-782-0046 x21 www.beasleydirect.com @BeasleyDirect Blog: www.BeasleyDirect-blog.com Tom Judge tjudge@dirmkt.com Direct: 510-368-7527 www.directmarketingpartners.com

Editor's Notes

  • Source Marketing Sherpa, also concurs with the challenges of optimizing the lead-to-sales process. I’ll focus on top 2.Other issues: Not enough of the “qualified sales-ready leads” that will close into dealsLengthening buy & sales cycle challengesFalling response rates to most all mediaHaving to market to multiple decision makersManaging multi-media touch points
  • One and done are history, so just do it!Lead nurturing is quickly becoming the big leverage point for successful firms. If they do it right…History indicates people won’t respond to a message until they have been exposed to it several times.Have a pre-sales focused lead nurturing group do this for you. Sales People will NOT do Pre-sales nurturing and qualification work as it does not pay commissions and they have poor data quality skills. To do it right, many firms are consider outsourcing this module. This can often improve speed and quality over limited in house resources.
  • Here’s why it takes 7-13+ touches, your creating a better quality prospect:Today’s sales-ready lead profile has been expanded to help reduce the more expensive and time consumption of having the sales teams develop a prospect. This is now done for them, so they can focus on selling.So start with a Perfect Prospect Profile. This is the safest common denominator when agreed upon between sales and marketing.Have management buy in, also have each sales rep sign off their SLA for making sales calls and other efforts or they will return.
  • Here’s why it takes 7-13+ touches, your creating a better quality prospect:Sales ready criteria is defined by the sales organization, not the marketing team. Nowadays, it goes well beyond basic web traffic digital scored leads. Be open minded to off line information gathering to meet your sales team’s needs!Business pains, plans etc. Note, these often require a peer to peer level discussion to earn the right to ask such questions. Prospects give limited information on line. Do not stop at digital profile data only! Go off line too to accelerate the pre-sales qualification process.Stage in the buying process or the time frame to purchaseSize of opportunityWhether the purchase is budgeted or does a business case need to be built?Job title or buying roleWhether the respondent would like to see a sales rep or move forward in the sales process.
  • Here’s why it takes 7-13+ touches, your creating a better quality prospect:We suggest combining digital data points and non-digital data points into scoring to increase the progression into “Sales-Ready” condition.Note, BANT criteria will vary. Not all BANT items may be available and some will be more important than others. IE, Need and timeframe and next steps may lead to a higher sense of urgency. Likewise, budget may be too soon to gather in some cases. Adjust the importance with the score variable.
  • Each is a category of several background questions under each of the BANT that will provide more detail.Here is an example of those categories.This captures additional background to find out more on the actual opportunity. Sales teams value this data as it is in line with achieving quota.
  • Now you need to quantify how many you’ll need to hit the sales goals: Tom will provide some deep diveThere will be multiple models for multiple market segments or solution/product lines.Have management sign off on these models!Run the numbers both bottom up and top down and create several models in your plan: Start at the buying processHow do they buy? Why would they buy any solution? Where do they research? How do they know they are in pain or have problems?? What are their triggers??Are they even aware they may have problems??Map the sales steps and current conversion rates to a saleCreate the multi touch demand generation, nurturing and lead qualification plan to feed that funnel. Create touch quotas for each touch metric.You will Measure all demand gen activities and compare back to these quotasAcknowledge that it takes multiple contacts before they decide to buy in most cases.
  • Here we show the demand gen/lead generation planning modules on one graphic. Tom will provide some deep diveThis is a summary of the “sales-ready” lead flows from each of the lead generation touch streams. Here we have 3 lead gen tactics under one plan.This starts with the need for 94 sales-ready leads to feed the sales team to hit their sales numbers.You’ll want to monitor these numbers daily and or at least weekly.
  • Clean accurate prospect data is key. Significant gains will be made as a result.Rarely does an organization build a database from the ground up. More likely a new system is implemented on top of existing data. This is where the holes and gaps can develop, if different groups are collecting different data.Plug the gaps and inconsistencies in your marketing tools, database and CRM system.Create a formal data assessment and cleaning processHave all potential prospect records pass through it. Enable both small and large list submissions and one off inbound web inquiries.
  • History indicates that smaller better focused solution campaigns outperform larger less focused campaigns.Messaging can be more focusedPenetrate the smaller numbers are easier and less costlyConversion rates are higherHint, filter inbound responses into your segments and monitor the touch quotas. Story of the 450,000 database but only a few thousand were in the target market segment.Web inquiries are hard to control and shortfalls often occur
  • One and done are history, so just do it!Lead nurturing is quickly becoming the big leverage point for successful firms. If they do it right…History indicates people won’t respond to a message until they have been exposed to it several times.Have a pre-sales focused lead nurturing group do this for you. Sales People will NOT do Pre-sales nurturing and qualification work as it does not pay commissions and they have poor data quality skills. To do it right, many firms are consider outsourcing this module. This can often improve speed and quality over limited in house resources.
  • I will not speak too much on the topic of content as others here at the show are on that. Do invest here.However, use clear relevant content and messaging as you will receive minimal mind share otherwise.Then use messaging across all the lead gen touch point media. Tie it all together as you may only have one chance to break through.Leverage the content to earn the right to gather the qualification information.Make your messaging relevant through the buyer's eyes and sequence it with the buyers journey.Your identity needs to be memorable. I loved an exhibitor at a recent DMA conference who themed their marketing around cupcakes with bright orange icing. The company offered hard-to-explain cloud computing solutions. They repeated the theme in collateral and web site and afterward tele-qualification reps called saying “we’re the folks with the orange icing, remember...”
  • This is direct marketing: you want people to DO SOMETHING rather than simply absorb your message.Use the offer to differentiate your company.Make a tangible offer such as an ROI calculator, webinars, white papers, and fact kits that they can use AND that indicates your company is an industry leader, capable of solving their issues.
  • Classic marketing will start with an introduction, expand into specifics, then qualify harder as a sense of urgency increases.
  • The DMA Reports that the telephone medium, (AKA telemarketing) when used properly, has the highest response rate of all the direct marketing media.Fact: People are busy and distracted and discontinue their online activity. Trying to get them to engage with you online all the way through the qualification cycle is getting harder and harder. Email response rates are falling and this is a major stall point in for many firms. This is the root problem that the CMO pointed out in our problem slide.In many business cases, not all, a telemarketing personalized touch is very effective at qualifying inbound responders to gather the remaining qualification questions.But more importantly, it is very effective at engaging the non-responders to engage them, listen and reply and convert more overall qualified leads out of a target list. The number one advantage of the personalized call is that you can listen to the prospect. Listen to prospects and exchange information that they require BEFORE they answer the qualification questions. We see significant volumes of prospects stuck in marketing automation. The human touch can be an accelerator.If a target market is segmented, and the response rate is several percent (i.e. 2%), then there are a great deal of non-responders (i.e. 98%) that you don’t know about. This is a major stumbling block for many marketers. Some marketers drop their inbound responders into a drip and forget campaign. For some, this works, however reports now show that many get stuck there.By not engaging in a tele-nurturing process, firms often can not earn the right to have the personalized conversations that allows you to ask the tough qualification questions.
  • This is continuous improvement 101.Many times marketers are going at such a fast pace, they don’t stop to measure, learn and adjust from their efforts. They wait till someone tells them they are in trouble.Think of this as a financial retirement model.Set up your campaigns with the idea of testing, benchmark campaign result metrics, then make tactical changes where needed to hit your funnel lead quotas.Constantly monitor prospect lead conversion rates and the sales conversion numbers compared to the master plan and sales goals. Test the important things: offer, lists, creative, messaging, content and touch sequence conversions.
  • This is a critical inflection point for many companies. Get the manual process working first before you automate. Some firms reported that they purchased the software tools before establishing their processes, only to later find that they did not buy the package that could best fit their needs and they did not know their process.Multi-channel touch marketing is complex and some prospects will be touched dozens of times by multiple touch media vehicles. Track them all.Note, some marketing automation tools are limited to online activities only and do not track the critical off line touches. Plan for this.Lead management is critical to staying on your touch plan and metrics quota.Use a skilled team along with the right tools to do your lead management. Monitor the touch stream quotas closely and fix any stalls or under quota scenarios…ID Which go to market methods worked? What should be repeated? You don’t know what to budget for if it’s not being tracked and reported.

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