the definitive guide to lead nurturing
TRANSCRIPT
TheDefini)veGuidetoLeadNurturingWebinar:August19,2009
SergioBalegnoSeniorAnalyst
Marke:ngSherpa
JonMillerVPMarke:ngMarketo
© 2009 Marketo, Inc. All Rights Reserved
Introduc:on
Sergio BalegnoSenior Analyst, MarketingSherpa
Sergio Balegno is a Senior Analyst with the MarketingSherpa Research Group. His research focuses on the topics of Social Media, Email and B2B Marketing for MarketingSherpa Benchmark Guides and Special Reports. Sergio presents his research, analysis and opinions as a frequent speaker at MarketingSherpa summits, industry conferences and online events. His 30 years of marketing experience have included roles as client-side executive, agency principal, consultant and now as an analyst of emerging marketing strategies.
[email protected]://www.linkedin.com/in/sergiobalegno
© 2009 Marketo, Inc. All Rights Reserved
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Topics
WhatisLeadNurturing,andwhydoyouneedit?
Prac:calGuide:HowdoyouactuallyDOleadnurturing?
Calcula:ngtheROIofLeadNurturing
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The Leaky Revenue Cycle
Source: October 2006, Best Practices “Improving B2B Lead Management”
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Lead Nurturing Plugs The Leak
Source: October 2006, Best Practices “Improving B2B Lead Management”
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WhyLeadNurturing?ItAddressestheMostPressingB2BChallenges
• Qualityofexis:ngleadsimprovedforhand‐offtosales
• Therightmessagetotherightpersonattheright:meinthesalescycle
• Perceivedvaluearesultoftrustinthebrand/salesperson
• Themorepeopleinbuyingprocess,thebeXerthenurturingprocessneedstobe
ALongroadFromLeadGenera:ontoSalesConversion
• Longersalescycleincreasesneedtostreamlineprocess
• IDandfulfillinfoneedsateachstageinnurturingprocess
TheLargerthePurchaseTheLongertheRevenueCycle
• 76%of$25k‐$100kpurchasestakemorethan3monthstoclose
• 41%of$100k‐$1mpurchasestakemorethan6monthstoclose
• 28%of$1m+purchasestakemorethanayeartoclose
AderLeadisGenerated,NurturingisMostDifficultJobforMarketers
• Nurturingnotonlymostdifficultjob,alsomostimportant
• Donewell,helpsmoveleadsfromconsidera:ontopurchaseintent
• Marke:ngprocessandautoma:onkeytomakingnurturingeasier
WhatMarketersAre(andAren’t!)DoingtoAdvanceLeadNurturing
• Collabora:ngwithsalestodefineleads
• Scoringleadsbasedondefini:ons(KISS)
• Majoritylackanurturingprocess
Practical Guide to Lead NurturingHow Do I Actually Do This Stuff?
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Four Kinds of Lead Nurturing
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Determine What Goes to Sales
CommonStrategies1. SendEverythingtoSales2. SendEverythingtoTelemarke:ng
3. LetSalesCherry‐PickandNurtureOthers
4. Definea“Sales‐Ready”LeadandSendOnlyThose
CommonWaystoDefine“SalesReady”DemographicAXributesBANT(Budget,Authority,Need,Timeline)CompletenessofDataProfileBehavioralAXributesLeadScore
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WhatMarketersKnowAboutLeadsBeforeHandingOfftoSales
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• 8in10marketershand‐offleadinfoas/whenobtained
• Moreinfoaddedincrementallyasacquired
• Nurturingdonesimultaneouslywithsellingprocess
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Establish Permission for Nurturing
Pros Cons
CAN‐SPAM
Only• Minimaleffort
• “Legal”intheeyesofgovernmentregula:ons
• Growsyourdatabasequickly
• Riskspoordeliverabilityscoreandbadreputa:on
• Despitedatabasegrowth,rela:onshipqualitywillnotimprove
SingleOpt‐in
Approach• Demonstratesapro‐ac:veconcernforpermission
• Prospectsmightrememberthattheyoptedin
• Increasesdeliverabilityandsenderreputa:onscores
• S:llassumesthatjustbecauseprospectsrequestedinforma:onone:me,theywanttohearfromyouagain
DoubleOpt‐in
Approach• Demonstratesthemostconcernforprivacyandrelevancy
• Subscriberstrulywanttohearfromyou
• Increasesdeliverabilityratesandsendreputa:onscores
• Addsanotherlayerofcomplexityandcommunica:onwithpoten:alsubscribers
• Riskslosingsubscribersintheconfirma:onprocess
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Establish Preferences
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Letprospectscustomizenurturingcommunica)ons
Frequency
Format
Interests
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Determine Buying Stages
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Example:SiriusDecisionsBuyingCycle EarlyStageThoughtleadershipandbestprac:cestobuildbrandandawareness
MiddleStageBuyersguides,RFPtemplatesandindustryinforma:ontohelpstructureresearch
LateStageCompany‐specificinforma:ontohelpevaluateandreaffirmselec:on
TheLargerthePurchasetheMorePeopleInvolved
• 64%of$25k‐$100kpurchasesinvolvemorethan3people
• 38%of$100k‐$1mpurchasesinvolvemorethan8people
• 41%of$1m+purchasesinvolvemorethan15people
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Buyer Profiles
%SayingContentCustomizedByCategoryisMoreValuableByIndustry:82%ByRole:67%
Doersvs.Buyers JobFunc:on
ByCompanySize:49%ByGeography:29%ByProduct
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Source: MarketingSherpa
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Content Mapping
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Roles
BuyingStages
Content
1.Mapyourexis)ngcontent
2.Blankcellsdetermineyourcontentroadmap
3.Shortcontentisgood!
4.Testandop)mize
5.Startsmall,thinkbigandadaptquickly
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Accelerator Campaigns
Moveprospectsalongthebuyingcyclefasterwithrelevant“nudges”triggeredbyspecificbehaviors
MoveprospectsbetweenStayinTouchtracks,orrunindependently
Startbasic,thenevolve
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Recycled:NotReady
Recycled:NoContact52%
Disqualified7%
Opportunity19%
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Lead RecyclingActualMarketoResults
OutcomeofSales‐ReadyLeads
Marke)ng–SalesAlignmentisanimpera)ve
Calculating the ROI of Lead Nurturing
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The Value of Lead Nurturing
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Fewermarke:ng‐generatedleadsignoredbysales(from80%toaslowas25%)
150%increaseincontact‐to‐leadconversionrate
2‐3xlidinconversionratesonrawleadstoqualifiedopportuni:es
20%moresalesopportuni:es
225%increaseinvolumeofprospectsthatconverttosalesopportuni:es
7%pointshigherwinratesonmarke:ng‐generatedleads
6%pointslowerrateof“nodecisions”
2Xincreaseinbid‐winra:o
47%higheraverageordervalues
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The Value of Lead Nurturing
PassedtoSales(<1mo)
PassedtoSales(>1mo)
TotalPassedtoSales
CostperSalesLead
WithoutNurturing 25% 8% 33% $195
WithNurturing 25% 25% 50% $130
©2008Marketo,Inc. Allrightsreserved.
Source:ActualMarketodata;assumes$65perprospect
MarketoROIResultsProspecttoSales‐ReadyLeadConversion
Results:50%moresales‐readyleadsfromleadnurturing
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The Value of Lead Nurturing
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48%ofalldealscomefromleadnurturing
MarketoROIResultsMarketoNewCustomerDeals,throughJune2009
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More Than 220 Successful Customers
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Sergio.Balegno@Marke)ngSherpa.comhip://www.linkedin.com/in/sergiobalegno
[email protected]+1.877.260.MKTO(6586)
Webinarwillstartpromptlyat2pmET/11amPTDial‐innumber:+1.800.954.0684
TheDefini)veGuidetoLeadNurturingWebinar:August19,2009
© 2009 Marketo, Inc. All Rights Reserved