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TRANSCRIPT
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11 Tips to Optimize Your Multi-Channel Marketing Campaigns
Presented by Tom Judge• VP Strategy, Direct Marketing Partners (DMP)• VP Co-Chair, Direct Marketing Association of Northern California• Chair, NorCal BMA Sales Lead Roundtable
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• Challenges in B2B Multi-Touch Campaigns• 11 Tips• Case Studies
Agenda
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CMO Council: Reports the Problem
Half of companies do not achieve sales quotas
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CMO Council: Reports the Cause
“It is clear that companies do not manage business leads in a way that optimizes their quality or value. After spending large sums on their initial acquisition through costly media campaigns and multi-channel content marketing programs, only a small percentage of companies effectively act on, nurture, convert, close, recover, or re-qualify leads over time.”
The CMO Council 2011 State of Marketing Report
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B2B Marketing Challenges
Top 2 = our focus
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 1: Clearly define a “Sales-Ready Lead”
Action item: Define each type of type of sales lead and stage in your end to end funnel. Write it into the plan AND get management and stakeholders to sign the document.
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Sample of “BANT+ Sales-Ready” Leads
Detailed background information on the prospect and the selling opportunity helps drive more productive sales results
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DESIGN LEAD SPECS SO THEY MEET THE SALES TEAM’S REQUIREMENTS
ProfileSegmentTrigger eventsComplianceAccess to fundingSize of opportunityTime frameUrgency Willingness to move forward and engage with sales team?
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Marketing generates a lead with basic interest, not ready to engage a sales rep Sales teams reject unqualified leads, feels disconnected, requests “sales-ready” leads The numbers are unsustainable
Current marketing focus Current sales focusThe B2B leaddevelopment gap
Issue 1: Marketing hands offLeads too early. Unqualified
Leads waste sales’ time.
Issue 2: Sales cherry picks leads, lettinglonger-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: October 2006, Best Practices “Improving B2B Lead Management”
Low Quality Leads Create Problems
Symptoms: Few conversions into customers
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Tip 2: Map the end-to end process
• Know your prospect’s buying process• Map and document the end-to-end buying, selling and
demand gen processes
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Project Name: ABC Co. Sales Lead Strategy
Scenario A
1. SALES REVENUE: 1,300,000/yr
Sales Revenue Goals/QTR $325,000
Annual Revenue per sale $60,000
# Sales Required/QTR5.4
Estimated Closed Rate on Pipeline Opps.40%
# Qual Leads Convert to Proposal / Pipeline/QTR14
Est. forward conversion to Proposal Pipeline Rate on Sales-Ready Leads 33%
# Qualified Sales -Ready Leads Required @ A/B Level Quarterly (Prospects meeting sales-ready criteria) 41
# Qualified Sales-Ready Leads Required @ A/B Level Per Month (Prospects meeting sales-ready criteria) 14
Start With the Sales Process Reverse Calculate the Sales Lead Requirements
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Three Segment Example: Lead to Sale Touch Metrics
Project Name: Seat Sales Lead-to-Sales Strategy
1,000,000 Seat ScenarioA: Large Ent.
SegmentB: SMB
SegmentC: Very SMB
Segment
1. SALES REVENUE: Goal 80% Goal 10% Goal 10%
Annual Sales Goal in Units 100,000 800,000 100,000Estm. Units per sales 5,000 30 5
# Sales Required 20 26,667 20,000
Estimated Closed Rate on Pipeline Opps. After Demo 25% 33% 33%
# Qual Leads Convert to Demo & Proposal / Pipeline 80 80,808 60,606
Est. forward conversion rate from qualified lead to Demo & Pipeline 50% 67% 67%# Qualified Leads Required @ A/B Level & Demo Annual (Prospects meeting qualification criteria)
160 120,609 90,457
# Qualified Leads Required @ A/B Level & Demo Per Month (Prospects meeting qualification criteria)
13 10,051 7,538
2. MKTG. INQUIRIES and CONTACTS:A/B Qualification Rate of 1:1 OB Contacts/IB Inquiries into Sales-Ready
Leads10.0% 10.0% 10.0%
# of 1:1 Touches OB/IB Contact Interviews Required per Month (Scripts Completed w/ More In depth BANT+ Profiled Needs Gathered in this Model)
133 100,508 75,381
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Formalize the Multi-Channel Lead Gen Campaign Plan & Touch Metrics
# Qualified Leads Required @ A/B Level & Demo Per Month (Prospects meeting qualification criteria) 67
3. MKTG. STRATEGY to FILL the PIPELINE:
Campaign #1: E-Mail + OBTM (to tele-qualify & set appt.) 26
Campaign #2: Dir. Mail + OBTM (to tele-qualify & set appt.) 0
Campaign #3: OBTM Teleprospecting Alone (non-responders) 15
Campaign #4: PPC Paid Search Adv. No Telequalification. 6
Campaign #5: SEO Organic Search + OBTM (to tele-qualify & set appt.) 0
Campaign #6: Trade Show + OBTM (to tele-qualify & set appt.) 15
Total Pre-qualified field sales force ready Leads/ Mo. 62
Difference -5
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Multi-Channel Touch Funnel Building Metrics Plan
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 3: Ensure prospect data accuracy
Action item: Make the courageous move to fix and
standardize the prospect database. Hint: This is a never ending task.
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 4: Segment your target markets into smaller more manageable target sub segments.
Action item: Compare campaign performance by segment to identify better performing markets to focus resources better..
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 5: Implement a system & lead mgmt. team that gives you full visibility into all of your campaigns
Action item: Have the right talent and an executive dashboard reporting tool to manage your lead funnels
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 6: Sync up relevant content, personalized messaging to tell your compelling story & differentiate
Action item: Create a sequence of relevant content to deliver to prospects over time to earn the right to ask the qualification questions.
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Optimize with Personalization
Average Landing Page
2.3X
Optimized Landing Page
ADDITIONAL 30% LIFT IN LEADS
SIMPLE INTEGRATION
(TO PRE-FILL FORMS)
NO INTEGRATION REQUIRED
100% LIFT IN LEADS
Optimizing a landing page can increase conversion
rates 2.3 times
40%
60% Personalization In Landing Page
Personalization In Outbound Medium
Pre-Fill Forms
30%
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Rovi Multi-Channel Campaign
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Rovi Multi-Channel Campaign Email
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Banner Ad in Tech Crunch
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Banner Ad in Gigaom
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Social Media:Twitter
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Registration Page
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 7: 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.
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Tele-qualification can increase the amount of sales qualification data points gathered & B2B qual. rates
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Email + Telemarketing Case Study
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Landing Page
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Metrics – Email Alone
EM Broadcast to 14,769 EM Click Through @ 1%= 161 Conversion to Demo @ 10% = 16
Qual. Lead = Interest & Registered for Demo .1% conversion ratio of EM sent to qual. demo lead
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Metrics Email with OutboundTelemarketing Integrated
OBTM follow up calls to non-responders @ 7,513
Prospects Contacted & Graded @ 33%= 2,511
Now cleaned & captured, most are now in the opt-in database
Prospects Scripts Completed & Needs Captured @ 26%= 662
1:1 relationships now established Conversion to Demo Sales-Ready Leads
@ 32% = 217 Qual. Lead = Interest & Registered for Demo
2.9% conversion ratio of Calls to qual. demo lead
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Results: Multichannel Boost of 13X
Conversion to Demo: From 16 via em alone to 217 via combined em+tm
Conversion to Demo; Email; 16
217
13.6
Multi Channel Boost
Email Telemarketing
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 8: Prospect Nurturing is critical
Action item: Use your multi channel lead management touch metrics dashboard to track response as you make multiple contacts and thus identify the best combinations to optimize conversions to “sales-ready”. AKA, that “sweet spot”.
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Value of Nurture: Business Case
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 yourprospect’s mind
Nurturing slowly, your prospect gets to know you
You are probably the onlyperson to make 8 contactswith this person
79% of sales people have given upYou 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
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Anritsu Multi-Channel Campaign
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Multi-Channel Campaign: 3D Mailer + PURL
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Direct Mail - Letter(Multi-Channel
Campaign)
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Direct Mail – Brochure Cover
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Anritsu Direct Mail - BRC
(Multi-Channel Campaign)
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Anritsu Email
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Anritsu Registration Page
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BTS Master Campaign % IB Response Rate Metrics
Drop Date DeliveredIB Response
RateLanding Page Capture Rate
Qualification Rate on LP
Submissions
DM-BTS PURL EVDO 9/08 679 6.63% 3.83%
DM-BTS PURL WCDMA 9/08 679 7.36% 4.27%
DM-BTS PURL WiMAX 9/08 59 13.56% 3.39%
TOTAL
1,417 103 = 7.27%57 = 4.02% of TTL Delivered
55% of LP
28 = 49% of LP
Submissions
Broadcast
Metrics: Combined Email and Direct Mail Results
Response to direct mail & email broadcasts was outstanding. 7% visited the PURL, and 4% filled out the contact form or 55% of those going to LP
Industry norm qualification rate = 5% to 10%. The BTS Master campaign’s multi-touch strategy improved conversion to sales-ready lead five fold.
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BTS Master Campaign % Outbound TM Touch Metrics
Target Calling Metrics: For 57 IB responders & 1,410 non-responders
Project Metrics Overview
Funded Call Hrs
Hours Called
Remaining
HoursList Size
Number of Calls
Completed
Records
Completed
Scripts
Calls/Hour
Records/Hour
Scripts/Hr
Call Hrs/De
mo Reg.
Demo % of TCS
170.0 170.00 0.00 1,467 3,862 876 244 22.72 5.15 1.44 1.39 49.18%
Leads Campaign Results
A+ A- B C
Future Opportu
nities
Total Leads
& Future Opportunities
New Recor
ds
Uncallable
Records
% Uncalla
ble Record
sOpt-Out
Inappropriate
Contact
Referral given
Inappropriate
contact,
No Referral
given
31 34 53 2 2 122 111 298 34.0% 8 104 120
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BTS Master Combined Campaign Touch Metrics
Drop Date Targets
Prospects Engaged/ Updated Validated
Presentation Completed (TCS) TTL Completed
Scripts
Qualification into Sales-
Ready Lead from TCS
DM-BTS PURL EVDO 9/08 667 484 = 73% 126 =26% 70 = 56%
DM-BTS PURL WCDMA 9/08 626 390 = 62% 102 = 26% 47 = 46%
DM-BTS PURL WiMAX 9/08 37 19 = 51% 3 = 16% 0 = 0%
Addtl Others 9/08 137 34 = 25% 13 = 38% 3 = 23%
TOTAL
1,467 927 = 63% 244 = 26% 120 = 49%
Broadcast
Combined IB & OB Calling Metrics & Results
Total targets to pursue
Industry norm qualification rate = 5% to 10%. The BTS Master campaign’s multi-touch strategy improved response five fold.
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 9: Use a compelling offer with staying power.
Action item: ALWAYS OFFER something of perceived value.
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Business to Business Offers
OfferResponsivenes
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
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 10: 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.
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11 Tips to Optimize Your Multi-Channel Campaigns
Tip 11: 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.
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Track Sales Pipeline KPIs and ROI
View sales pipeline results & ROI from your sales leads
Actual Lifetime Value of Deals Won Amount Invested
ROI 2012 on Deals Won Reported Win Plus Loss Pipeline Revenue
Analysis
$539,168.00 $ 78,000.00 5.9:1 11.1:1
Sales Won:10 Sales Lost:20
Total CY Value Total Lifetime Value Total CY Value Total Lifetime Value
$ 299,507.00 $ 651,445.00 $ 120,800.00 $ 308,800.00
$38,750.00 $61,100.00
$5,500.00 $6,000.00
$34,100.00 $61,200.00
$69,503.00 $103,648.00 $5,970.00 $11,940.00
$73,050.00 $99,600.00
$ 103,450.00 $ 417,400.00 $ 25,000.00
$ 7,010.00 $ 12,120.00
$ 86,975.00 $ 145,900.00
$ 185,463.00 $ 539,168.00 $ 238,845.00 $ 404,740.00
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Tom [email protected]: 510-368-7527www.directmarketingpartners.com