Download - Lead Qualification Generation
Lead Nurturing Multichannel relationship strategies to
take a contact from prospect to sale
April 5, 2011
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Today’s Speakers
Thorin McGeeExecutive EditorTarget Marketing
Moderator
Dan McDade
President and CEO
PointClear
Author of ―The Truth About Leads‖
Parin Mody
Global Director of
Business Development
Mardev/DM2
Lead Nurturing: Multichannel
relationship strategies to take
the prospect to sale
Agenda
The Problem
The Cause
The Cost
What to Do
Agree on a common definition of a lead
Agree on market, media and offer
Measurement beyond number of leads, their cost and revenue
Ten Actions to Take
The Truth About Leads
The Problem
Best Practice Results
MQL = 4.1% of inquiries/
targeted suspects
SAL = 62% of MQL
SQL = 47.5% of SAL
Close = 22.1% of SQL
The Cause
7 Reasons Why Sales and Marketing are
Not Aligned
Lack of standard lead definitions
Failure by sales and marketing to accept accountability for
influencing each step in the buying cycle
Focus on quantity instead of quality
Lack of integration between sales and marketing technologies
Lack of serious, formal discussion between sales and marketing
Failure to measure what matters
Silo approach—failure to pass leads back and forth
Source: The Aberdeen Group
The Cost
Quota trends
since 2006
Quota attainment
since 2006
The Solution: Turn Raw Leads Into
Real Opportunities
Attributes of a Well-Qualified Lead
1 SIC of NAICS Code
2 Firmographics (revenue, # of employees, # of locations)
3 Decision makers and influencers identified
4 Environment documented
5 Decision maker engaged
6 Business pain(s) uncovered/validated
7 Decision-making process and time frame documented
8 Budget allocated or process for budgeting documented
9 Competitive landscape documented
10 Sense of urgency or compelling event exists
What to Do: “BANT” vs. “AN”
What To Do: Define Market, Media, Offer
Establishing a clear and mutually agreed upon definition of
market, media and offer can help you multiply results
Market Media Offer
What companies will
we target?
Who are our target
contacts?
How can we
segment our market
and apply differing
approaches?
Which mix of
integrated media will
be most effective?
How will we navigate
to those contacts?
How can we convey
a building dialogue?
What compelling calls
to action will cause our
targets to respond?
How do we articulate
what problems we
solve and how?
What messaging will
differentiate our
solution?
What to Do: Market
5%
Lead Rate
1,000 Companies
50 Leads
Marketing Equally Sized Samples
Sample
sizeLead Rate # of Leads
200 9% 18
200 7% 14
200 5% 10
200 3% 6
200 1% 2
1,000 5% 50
32 leads (64%)
= 40% of spend
42 leads (84%)
= 60% of spend
The power of relational segmentation
What to Do: Media
Multi-touch, multi-media, multi-cycle
processes multiply results
Buyer’s Journey
What to Do: Offer
Conditions of need Fear of Loss
Perceived Risk
Opportunity to Improve
What to Do: Offer
Ultimate benefits Save Money
Save Time
Improve
Save lives
What to Do: Offer
Personal reasons
What to Do: Your Sales Force Needs
Fewer Leads
Too many raw,
unqualified leads
can create a
clogged marketing
and sales process
and an unhealthy
funnel
More leads don’t
equal more
success
What to Do: Reap the Value of
Long-term Leads
ROI WITH Best-Practice Handling of Short- and Long-Term Leads
CategoryQuantity
Short Term
Quantity
Long TermTotal
Names 1,000
Short-term leads 40
Long-term leads 40
% Closed ST leads 20%
% Closed LT leads 20%
# of deals 8 8
Average deal $250,000 $250,000
Revenue $2,000,000 $2,000,000
Cost of qualification $59,040 $4,920
Gross after marketing expense $1,940,960 $1,995,080 $3,936,040
Ten Actions to Take
1. Agree on market definition (the largest identifiable
market with the tightest possible market definition).
2. Agree on offer (enterprise, point, both, priorities?) .
3. Agree on the definition of a lead (―BANT‖ vs. ―AN‖…, 10
point system).
Ten Actions to Take
4. Agree on expected metrics (MQL to SAL to SQL to
Close).
5. Define required reporting and frequency of reports
(recognize that what happens during the course of one-
quarter is likely to happen the next quarter without
driving change).
6. Give your sales force fewer leads – that is fewer, more
highly qualified leads.
7. Effectively nurture longer-term leads. Provide the right
content to the right person (from the right person) at the
right time.
Ten Actions to Take
8. Design your touch cycle using multi-touch, multi-media,
multi-cycle processes to multiply results.
9. Construct offers that take into account:
A. The three conditions of need
B. The ultimate benefits
C. The personal reasons why people buy things for companies
10.Set realistic actions and timeframes. You cannot solve a
sales shortfall when you have a six month sales cycle
and you are in Q4.
The Truth About Leads
Revealing little-known secrets
that focus your lead-generation
efforts, align your sales and
marketing organizations and
drive revenue
Contact
Dan McDade
678-533-2722 office
@dandade
@pointclearpd
http://www.linkedin.com/in/danmcdadepointclearllc
Presented by:
Parin Mody
Global Director, Business Development
Mardev-DM2
Customer Behavior
& Buying Cycle
Demand Generation: Best Practices and Lessons Learned
What is a truly integrated, multi-channel campaign?
More than postal + email
More than print + digital
More than delivering the same message through multiple channels
(although that’s important)
Marketing integration is using the most effective media channels and tactics to begin
the conversation with your prospective buyer
And then inviting them to take the next steps in their journey with you
Continue the conversation
Gauge their response
Must be measurable
Track each channel of communication
Leverage them to build each other
Document results and adjust as needed
What is a multi-faceted campaign?
The New Buying Process: Self Education
Blogs/Tweets
Download demo or
White Paper
Search online
Podcasts/Webinars
Reading emails
SalesMarketing
Forums/Communities
Buyers are more educated than ever
Poll # 1
Which dimensions of personalization do you leverage in your current campaigns? Contact profile data
Account profile data
Behavior based
Buying cycle stage based
Preference based
Personal Work
Watching TV
Surfing
Reading
E-mailing
Commuting
Tweeting
Online ResearchMobile/Txt
Step 1: Meet the individual where he is. Understand that while working, he is still a consumer.
While on personal time, he is still a professional and concerned about his business.
Step 2: Make sure your message is consistent throughout the various communication tools you use.
Step 3: Measure which tools gain the greatest response throughout the buying cycle.
Communicate with the whole person
Implementing Demand Generation
EvaluateLearn JustifyInterest
Customer Buying Process
$$Inquiry
Marketing
Qualified
Lead
(MQL)
Sales
Accepted
Lead (SAL)
SuspectSales
Qualified
Lead (SQL)
Marketing
validates
quality of
interest.
Marketing
nurtures to
sales ready.
Sales
validates and
accepts
ownership.
Sales
validates
BANT
criteria
Sales closes
revenue
opportunity.
How do I implement Demand Generation within my company?
First step – Understanding the customer buying cycle and mapping it to the journey you, as
an organization, offer to the customer
Purchase
Sales & Marketing effectiveness determines volume and velocity
Moving up the Lead Value ChainLead Definition Lead Generation Process # of leads Lead
Characteris
tics
Sales Opportunity –
ready to buy
- Largely sales force task Low Hot
Pre-qualified lead –
some information known
about purchasing
requirements
- High degree of interaction required with
prospects, integration of online and offline
channels to identify prospective need. May
include email, online, telemarketing, direct
mail.
Medium to
Low
Warm
Prospects – indicated
definite interest
- Search
- Permission marketing
High to
Medium
Warm
Profiled Suspects –
higher propensity to
purchase
- Segmentation, modelling of databases
- richer demographics or information
High Cold to
Lukewarm
Suspects - Lists with some demographics High Cold
Lead Generation: Tactical
leads
prospects
Campaign Objectives
Lead definition & qualificationwhitepaper download, appointment
Target audiencecompany size, business sector, job title
Collateral Creationcase study, whitepapers,
webinars
Channel Selectionemail, digital, telemarketing
Analyse, Optimise and Adaptwhat’s working – increase what’s not,
adapt or switch off
Deliverablesvolumes, timescales, CPL
reporting
tele
marketing
r e
s o
u r
c e
o
p t i m
i s
a t
i o
n
Reporting
nurtureOnline
Strategic Campaign Workflow Example
Telemarketing
DYNAMIC MICROSITE
Whitepapers
Case studies
Competitions
Blogs
Forums
Webinars
Podcasts
RFQ
SEO/PPC
Social
Networking
Online
inventory
Gold Leads
Silver Leads
Bronze Leads
Emails &
Newsletters
NURTURE
PROGRAMME
Pass to
Field Sales
Nurture
FURTHER QUALIFICATION
•Budget
•Authority
•Need
•Timescales
TRACKING & SCORING
Monitor level of interest based
on :•Email opens
•visits to microsite
•Downloads
•Reading/Posting on BlogsAdvertising
Multi-touch Example: Microsite Driven
Multi-touch Example: Microsite Driven
Poll # 2
On average, how complex is your communication mix in a campaign? Single touch via single communication channel (i.e. email batch and blast)
Multi-touch via single communication channel (i.e. automated email drip campaign)
Multi-touch via multiple communication channels (i.e. webinar with email, phone and direct messages
Strategic Nurturing Objectives
Lead/Customer Nurture Strategy:
Build trust within your customers and prospects
Educate them
Who are you?
What does the company do?
How does it benefit them?
Establish credibility as experts
Be relevant to the issues /pain points of your different segments
All of the above will help you differentiate your organization as a partner
to the prospect as opposed to a vendor
Use the data you collect about each visitor to send them more relevant
engagement materials
Anatomy of ScanningPaper.com
The images and the text are dynamically
populated based on the lead’s industry
The welcoming message uses the first name,
the job function, the company and the industry
fields to make the experience very personal
This content is based on and especially written
for professionals in the lead’s industry
The customer examples, the business need
case studies and the solutions in action
content that can be downloaded is also
dynamically populated based on the lead’s
interest
Content is based on solution interest
Lead Nurture: Rules of Engagement
1. Do not initiate contact without a clear objective
2. Start with the customer, not with your product/service
3. Pick-up where the interaction left-off
4. Don’t ask the prospect for the same thing more than once
5. Make the interaction personal and personalized
6. Deliver information that reflects what you’ve learned about them
7. Learn about the customers/prospects in bits.. .. not all at once
Source : Peppers, D., Rogers, M., One to One Fieldbook, 1999
Defining Your Lead Nurturing Program
1. Define your objective
2. Define the WHO
3. Define collateral needed
Touch point
Emails
Phone scripts
Content Assets
White papers
Analyst reports
Articles
Research Papers
Interactive media
Poll / survey
Scorecard / rank yourself
against your peers
4. Map out the customer experience
5. Test and launch
6. Ongoing evaluation and monitor reporting
7. Keep content fresh
Postcard
Letter
Webinars
Podcasts
Flash demo
Improve ROI with Lead Scoring
Lead scoring and nurturing improve ROI
Objectives:
Improve conversion to qualified leads
Improve quality of leads
Prioritize follow-up
Harvest dormant leads and re-engage
Helps measure channel effectiveness
Enhance lead insight with marketing database demographics and behaviors
Dynamic Lead Scoring Model
Score on profile fit and level of engagement
Level of Engagement
1 = Showing buyer interest
2 = Showing some interest
3 = Not enough information
4 = Inactive
Profile Fit
A = Target fit (BANT qualified)
B = Potential fit (nurture)
C = Not high enough now
D = Not a fit
Don’t send unqualified leads to sales… Nurture.
Nurturing programs generate on average:
7-10% increase in marketing qualified lead (MQL) generation
> 50% acceptance from sales (SAL)
Lead Scoring Model: ExampleCategory Level Values Count Score Location in Eloqua
Demographics - 10 Points
Title - 5 PointsPrimary
Head of Contact Field: "Job Ti tle"
Director
Chief Technology Officer
Executive 2.5
Officer
CIO
Chief Operating Officer
Secondary Manager
Consultant
Vice Pres ident 1.5
Architect
Analyst
engineer
Tertiary Adminis trator
Support
Technician 1
Ass is tant
Specia l i s t
developer
Industry - 2 PointsPrimary
LOCAL & CENTRAL GOVERNMENT 24 Contact Field: "Industry"
EDUCATION & TRAINING 20
MANUFACTURING & ENGINEERING 16
HEALTH/SOCIAL & PUBLIC SERVICE 14
Bui lding & Construction 13 1
BUSINESS SERVICES 13
Local Governement 12
It Consultancy 11
Banking, Finance, Insurance 10
Education Sector 10
Secondary OTHER RETAIL/WHOLESALE DISTRIB 8
SOFTWARE DEVELOPMENT/ISV 8
Engineering 7
Manufacturing Industries 7
Government 5
Other Service Activi ties 5 0.75
Supporting And Auxi l iary Transport Activi ties ; Activi ties Of Travel Agencies5
CATERING, HOTELS, LEISURE,ENT. 3
SERVICE PROVIDER/ASP/ISP/MSP/ 3
Wholesa le & Dis tribution 3
Tertiary Activi ties Of Bus iness And Employers Organisations2
Activi ties Of Bus iness Employers And Profess ional Organisations2
Activi ties Of Profess ional Organisations 2
Bus iness And Management Consultancy Activi ties2 0.25
Manufacture Of Computers And Other Information Process ing Equipment2
NETWORK/TELECOMMS RESELLER/INT 2
NHS 2
Other Financia l Intermediation Not Elsewhere Class i fied2
Securi ty Broking And Fund Management 2
Lead Scoring Model: ExampleEmployee Size - 1 Points
PrimaryEmployees 0100 to 0499 1626 0.75
Contact Field:
"Employee Size"
Employees 1000 to 4999 713
Secondary Employees 0500 to 0999 527 0.25
Employees 5000 plus 518
Tertiary Employees 0001 to 0099 213 0
IT Expendiutre - 1 PointsPrimary
£51k - £250k 15 0.75
Contact Field: "IT
Expenditure"
£1m - £4.99m 11
Secondary up to £50k 9
£5m - £49.99m 8 0.25
£500m+ 7
Tertiary £251k - £999k 6 0
£50m - £499m 5
Annual Revenue - 1 PointsPrimary
£250m+ 177
Contact Field: "Annual
Revenue"
Less than £1/2m 163 0.75
£200m - £500m 79
Secondary £10m - £25m 66
£100m - £249.9m 54
£50m - £99.9m 52
£100m - £200m 51 0.25
£10m - £24.9m 49
£50m - £100m 48
Up to £4.9m 47
£25m - £50m 41
£5m - £9.9m 41
Tertiary £1m - £5m 33
£5m - £10m 31 0
£25m - £49.9m 26
£1bn+ 14
Current Activity - 45 Points
Click through Whitepaper 25 Contact Field:
Click through Register 0 Contact Field:
Click through More Info 10 Contact Field:
Click through to Homepage 10 Contact Field:
Click to View Online 0 Contact Field:
Click on Thank You Form 0 Contact Field: "TYForm"
Form Submit/Registrant 0 Contact Group: "Reg"
Event Attendee 0 Contact Group: "Attend"
Telemarketing - 40 Points
Implemented DV?
Contact Field:
"Tele_s1q2"
DV a Priority?
Contact Field:
"Tele_s1q2a"
Implementation Timeframe
DV? Primary 0-3 Months
Contact Field:
"Tele_s1q2b"
Secondary 3-9 Months
Tertiary 9 or More Months
Team in Place DV?
Contact Field:
"Tele_s1q2c"
Interested in PC? 9
Contact Field:
"Tele_s2q0"
Currently Implement PC?
Contact Field:
"Tele_s2q1"
Considering PC? 9
Contact Field:
"Tele_s2q1a"
Implementation Timeframe
PC? Primary 0-6 Months 9
Contact Field:
"Tele_s2q1b"
Secondary 6-12 Months 2
Tertiary 12 or More Months 1
Team in Place PC? 4
Contact Field:
"Tele_s2q1c"
4 IT Challenges Primary Information Securi ty 30 1
Contact Field:
"Tele_s3q1"
Secondary Bus iness Continunity 9 1
Tertiary Data Growth and Maintenance 6 0
Compl iance 4 0
Advise Areas Primary *Cloud* 4
Contact Field:
"Tele_s3q3"
Total Lead Score: 100
A 100-45
B 44-25
C 24-5
F < 5
Previous Activity - 5 Points
Attend Primary 2 48 2.5
Register Secondary 1 84 1.5
Clicks Tertiary More Than 3 66 0.75
More Than 1 Less Than 3 300 0.25
Results and total lead score
Lead Scoring and Nurturing: Best Practices
Best Practices:
KISS – Do not score on too many criteria as it will be unclear what
values are defining the score
Sales and marketing SLA with protocol around MQL to SQL, follow-up,
etc.
Focus on scoring criteria that has standardized values, this will facilitate
program execution and ease refinement, as needed
Continuously re-evaluate and tweak the scoring system
Conduct a closed-deal analysis to uncover insights into conversions
Marketing Effectiveness
Marketing Automation Platforms (MAPs) enable a marketing team to
measure it’s ability to directly impact and drive revenues
―Marketing dashboards help address one key tenet of marketing
accountability – the transparent communication of results.‖
– Forrester Research
Benchmarkable
Source: SiriusDecisions, Cross-Industry averages for B-to-B Companies
10-50%
Marketing
Sourced
Pipeline
(% of sales pipeline
uniquely created by
marketing)
30-82%
Marketing
Influenced
Pipeline
(% of sales
pipeline touched
by marketing)
1-4%
Investment to
Pipeline
(average cost of
the demand
creation of the
sales pipeline)
$5-$20+
Investment to
Revenue
(average revenues
generated from $1
invested in demand
creation)
Performance Benchmarks
Track improvement over time against KPIs
Prioritize & Launch enhancements based on business objectives
Monitor demand generation process and measure its impact to revenues
Contact Mardev-DM2 Parin Mody, Global Director, Business Development
www.mardevdm2.com
U.S., Chicago Office
+1.800.323.4958
UK, Headquarters
+44 (0) 208 652 4525
Reference Information
Questions:
Experience:
Content:
1. What do they offer?
2. Are their customers
achieving success?
3. Do they fit my need?
4. How can I easily
evaluate/demo?
1. eMail & Web
2. Podcasts/Seminars
3. TM Calls
1. Company white paper
2. Seminar Pres
3. product spec sheets
4. Customer stories
5. Flash Demo
6. Ind/analyst reports
7. Educational Tips
1. eMail & Web
2. Seminars
3. Podcasts
1. Industry white
papers
2. Company product
white papers
3. Customer stories
4. Assessment tests
5. Press releases
1. Who are the suppliers
for my need?
2. What’s the scope
of potential
achievement?
3. Where do I stand?
4. How can I easily find
out more?
1. Do they meet my
expectations?
2. What do analysts say,
are they a leader?
3. Is Company viable?
4. How do they compare?
5. Why should I choose?
6. What’s the cost?
1. eMail & Web
2. TM Calls
3. Sales Calls
4. Seminars
1. Features/Benefits
2. Gartner Quadrant
3. Fin. Press Releases
4. Competitive & Cost
Comparisons
5. product Awards
6. Seminar Pres
1. Leading, solid
product/company?
2. Recommended by
customers and
analysts?
3. Meets or exceeds my
need?
4. Can afford to buy &
implement?
1. eMail & Web
2. Customer, analyst
references
3. Sales calls
1. product customer
reference site
2. product Awards
3. Customer stories
4. Press releases
5. Seminar Pres
1. How can I easily
purchase?
2. Can I purchase via
Web site?
3. Who can I call?
4. Do they have a
partner in my area?
5. Why buy now?
1. eMail & Web
2. TM & Sales Calls
3. Partners
1. 1800# provided
2. Company.com
product
3. E-Shop product
4. Partner locator?
5. Promotions or
deals?
Evaluate PurchaseLearn JustifyInterest
Search Begins Solutions IdentifiedSolutions Evaluated
Against NeedsShort List
AssembledSelection Made
Campaign Management: Planning
Marketing Effectiveness Measurement
Source: SiriusDecisions
Marketing Effectiveness Measurement
Measure what matter for your business
Funnel Value
On track to meet revenue targets?
How much revenue from each source?
What is the quality of the pipeline?
Channel Performance
Top campaigns by lead acceptance
Top campaigns by number of high scoring leads, etc.
Investment effectiveness
Which campaigns yield the best returns?
Measure What Matters
Question & Answer Session
If you haven’t done so already, please take
this time to submit questions to our speakers
using the ―Ask a Question‖ box on your
console.
Dan McDade
President and CEO
PointClear
Author of ―The Truth About Leads‖
Parin Mody
Global Director of
Business Development
Mardev/DM2
Moderated by:Thorin McGee
Executive Editor
Target Marketing
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