the advocate effect: how internal & external advocates can accelerate deal velocity &...
TRANSCRIPT
The Advocate Effect: How Internal & External Advocates can Accelerate Deal Velocity &
Conversion
Matt Heinz
President, Heinz Marketing Inc
@heinzmarketing
1
Housekeeping
• Feel free to madly scribble notes, but you can also have a copy of this deck
• You can also have (for free!) copies of:• The Modern Marketer’s Field Guide
• Our Referral Marketing Benchmark Study
• My award-winning* bacon recipe
• Just send email to [email protected] noting what you want
2
This stuff works!
• According to a Heinz/Influitive study of 640 referral program managers:• 40 percent of leads come from referrals
• 2X increase in referral lead volume over 12 months
• 69 percent report faster time to close
• 59 percent report higher lifetime value
• 71 percent report higher conversion rate
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Referral programs = greater sales/marketing effectiveness
Two Keys to Higher Performance
• Marketing manages the program• 3X more likely to achieve revenue goals
• Formal tools are in place• 3X more likely to accelerate creation & conversion
Only 22 percent of companies have these in place!
Companies with formal referral programs come out on top:
From the front lines…
• 56 percent of sales reps deem referrals “very important”
• 68 percent of reps with formal referral programs rated their referral tools as effective or highly effective• Vs 40 percent of those without formal programs
• 45 percent of reps with a referral program expect their closed deals to increase in the next 12 months• 47 percent of those without a referral program expect their
sales to remain flat
The impact for larger companies
• Among companies with formal referral programs and 200+ employees:• 87 percent reported highly effective sales efforts
• Vs 42 percent without referral programs
• 67 percent reported highly effective pipelines• Vs 36 percent without referral programs
• Nearly 4X more likely to have a “very involved” marketing department in referral activities• 58 percent vs 15 percent
The impact for larger companiesAmong companies with 200+ employees:
Six Elements to Creating Your Own Advocacy & Referral Program
1. Community
2. Customer Channels
3. Content
4. Context
5. Collaboration
6. Infrastructure
How do you get more advocates & referrals?
Get ready for the speed round….
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Scripts & practice
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NEVER used the LinkedIn tool
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Read Joanne Black
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Read To Sell Is Human
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Use value-added assets for intros
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Make yourself more shareable
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Use every department in your org (and theirs)
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Be more aggressive with LinkedIn connections
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Be precise about requests
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Be more generous
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Write thank you notes
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Leave voicemails
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Follow up
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Be synonymous with something specific
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Daily Tools
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Use excuses to reach out
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Respond to EVERY birthday message
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Lead with problems you solve (NOT what you do)
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Housekeeping
• You can also have (for free!) copies of:• The Modern Marketer’s Field Guide
• Our Referral Marketing Benchmark Study
• My award-winning* bacon recipe
• Just send email to [email protected] noting what you want
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