View
2
Download
0
Category
Preview:
Citation preview
Sales Start with Lead Generation & Qualification
Spring Conference, April 6, 2019© MarketStar Corporation – Confidential
@TODDHANDY
THANDY@MARKETSTAR.COM
HTTP://BIT.LY/HANDYDIGITAL(FIVE WAYS TO AMP UP DIRECT SALES)
© MarketStar Corporation – Confidential
To start…
© MarketStar Corporation – Confidential
LEVERAGE TECHNOLOGY, ANALYTICS & COACHING
4
• Combine technology stack, sales leadership & sales operations to empower sales teams to improve customer interactions, optimize and execute outreach sequences, and analyze results to identify coaching opportunities.
• Enable sales managers to track progress and coach sellers more efficiently to continually improve processes and achieve desired results.
Technology Elements
Advanced Analytics & Coaching Increased Revenue
© MarketStar Corporation – Confidential
© MarketStar Corporation – Confidential
THE ROLE OF A LEAD QUALIFICATION REPRESENTATIVE
• To ensure that we make contact with new leads early and often, helping us to engage with them when their interest or need for the product is highest
• To determine whether a lead is the right fit for us (and vice versa), with a clear opportunity for a successful campaign for their company
• To help sellers to prioritize their time effectively and pursue the right opportunities, so that we can improve win rates and launch more customers at speed
• To ensure a smooth handover from lead qualification to the appropriate seller, so that prospects receive a seamless buying experience from the right person, and are not “dropped” between LQR and seller
© MarketStar Corporation – Confidential
AN END TO END PROCESS
New Contacted RepliedConverted –
New Opportunity
Validate Discover Align Contracting Confirmed Closed Won
LEADLead Qualification Representatives
OPPORTUNITYWorkplace Client Partners
Contact attempt initiated with lead by rep
Seller reviews the notes provided by rep and accepts or rejects
the opportunity
Campaign date confirmed and creative lined up, with final
pre-launch review and best practice coaching
Sales Cycle timeTARGET: 2+ months
% Lead to Opp. ConversionTARGET: ~35%
WHAT
WIL
L HAP
PEN
WHAT
WE’
LL
MEA
SURE % Opp. Win Rate
TARGET: 20-25%
% Leads with contact attempted
TARGET: 100%
% Process AdherenceTARGET: >90%
Initial qualification conversation completed with the lead by the rep against key criteria, and the lead is converted to a New Opportunity,
or Disqualified
Seller confirms drivers and decision making process, support prospect in developing internal business case
Seller works closely with the prospect to drive internal alignment
across different functions and remove potential blockers to a
wider launch
Time to first contact
TARGET: Under 1 hour
% Sales AcceptanceTARGET: 60-70%
© MarketStar Corporation – Confidential
8
LEAD IS QUALIFIED – IS SELLER AVAILABLE?
WARM TRANSFER TO
SELLER
LQR SCHEDULES APPT. WITH DM &
SELLER
IMPLEMENT NURTURE CADENCE
(48, SD, 2H)
LQR JOINS, MAKES HANDOFF INTRO &
DROPS
SELLER CONVERTS LEAD OWNERSHIP
IN SFDC
YES
NO
KEY PROCESS ELEMENTS:
• Reducing time to touch
• Enabling immediate transfer
• Keep lead warm & engaged, keep seller prepped
• Clear visibility into stage progression (activities, milestones, best practices, etc.)
•Metric tracking and utilization, lead & pipeline velocity
• Visibility into opportunity progression
LEAD ACCEPTED BY SALES
LQR VETS CONTACTS FROM VARIOUS SOURCES TO DEVELOP
AND QUALIFY LEAD
© MarketStar Corporation – Confidential
WHAT DOES A LEAD QUALIFICATION PROCESS INVOLVE?
Step 7:Call / Voicemail #4
Step 8:Email #4
Step 8:Call / Voicemail #5
Step 9:Email #5
Day 8 Day 9 Day 10 Day 11 Day 12 Day 13 Day 14
Step 0:Scrub!
Step 1:Call / Voicemail #1
Step 2:Email #1
Step 3: LinkedIn InMail
Step 4:Call / Voicemail #2
Step 5:Email #2
Step 6:Call / Voicemail #3
Step 5:Email #3
Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7
Example: NEW PROSPECT FROM APPROVED LIST
© MarketStar Corporation – Confidential
Client
EXISTING LIST CLEANSE ENRICH
MANAGE
SOURCENO LIST CLEANSE ANDVALIDATE
Client with existing list:
• Cleansing is done with any list
• Based on data health report, MarketStar may recommend enrichment• Ongoing data management is available
Client with no list:• MarketStar offers data sourcing, starting from wholly owned MarketStar data
• Depending on data MarketStar has available, MarketStar may purchase additional data• Purchased data lists are also cleansed and validated
© MarketStar Corporation – Confidential
• Touches (calls, emails, chats, etc.)
• Talk time, EM reponse rates
• Time to touch
• DM contact rate DMC/VAC
• Conversion rates (contact to MQL, SQL/SQO, etc)
• Leads contacted, qualified, passed
• Appointments kept, leads converted, leads closed
• CSAT/Promotor Scoring
LQR Metric Considerations
• Touches (calls, emails, chats, etc.), Lead conversion
• Opportunity creation, staging, progression
• Pipeline velocity
• Account development, progression, growth, retention
• Pipeline/Deal Accuracy
• Closed Won (IO)/Lost
• Revenue, initial and on-going
• CSAT/ Promoter Scoreing
• Daily/monthly spend, budget utilization
• Program execution, performance, growth
ISR Metric Considerations
Metrics are broken down to daily, weekly, monthly activities and can include:
© MarketStar Corporation – Confidential
© MarketStar Corporation – Confidential
MARKETSTAR CLIENT CASE STUDY
13
Methodology§ Accounts with the following criteria
§ Include only prospects with company revenue data§ Include only prospects without Client sales closed
§ Total ~58K prospects (non-sold)
§ Seed with 327 accounts (sold) provided by Client to inform & predict the targeted non-sold prospects
© MarketStar Corporation – Confidential
PURPOSE OF ANALYSIS
14
327 accounts
58,398 prospects
Group of prospects with highly predictive propensity to be like the
target accounts
5,612 prospects
© MarketStar Corporation – Confidential
• Predictions grouped (y-axis)
• Observed where the target accounts fell in prediction groups
• 79% of target accounts fell in 90% prediction group
• 16% fell in the 80% prediction group
© MarketStar Corporation – Confidential
• The makeup of these industries is slightly different than the average population
• Greatest increases• Junior Colleges – 5x• Colleges and Universities – 4x
• Museums and Art Galleries 3.6x• Executive Offices 3.4x
• Television Broadcasting Stations –3x
Industries that represent at least 2x the proportion in the 90% group vs. the entire population• i.e. Junior Colleges represent 0.56% of the
general population, but 2.95% of the 90% population (5.2x difference)
© MarketStar Corporation – Confidential
• Higher annual revenue
• ~Same credit approval amount
• Higher employee counts
© MarketStar Corporation – Confidential
© MarketStar Corporation – Confidential
Core Stack
OPTIMIZING INBOUND & OUTBOUND SALES TOOLS
19
Inbound Outbound
InContact- Used for incoming call, chat, and voicemail, while allowing for managers to monitor interactions and provide analytics for coaching to improve rep effectiveness
Outreach- Email templating and automated contact sequencing to maximize rep activity and follow up in a prescribed method
Gong- Web-based tool that imports recordings from InContact and Outreach, transcribes, and analyzes calls for coaches to monitor and improve rep sales conversations
MyCoach- Creates visible dashboards for reps and coaches to measure interactions, enable meaningful training, and document goals for rep improvement
Optional($)
© MarketStar Corporation – Confidential
© MarketStar Corporation – Confidential
A
O
R
© MarketStar Corporation – Confidential
© MarketStar Corporation – Confidential
AActivities
By Combining the Activities, Objectives, Results (AOR) methodology with coaching and analytics, you can track and coach to which Activities are driving Objectives to achieve desired Results.
OObjectives
RResults
• Calls / Emails• Leads Touched• Call Quality
• DM Convos• Qualification %• Leads Created• Sales
Acceptance %
• Leads Qualified• Opportunities
Closed• Pipeline• Revenue
Weekly Coaching
Weekly Team Reviews
Example Sales/Customer Success Metrics
© MarketStar Corporation – Confidential
24
50 Closes/Mo.
2.3 Closes/ Day
~8 Opps/Day
~38 DMC/Day
~700 Calls/Day
AActivities
OObjectives
RResults
• 700 touches/day38 DM convos/day
• 8 opportunities/day
• 2.3 closes/day• ~$4,600/day
Required for Team of 10 to Close 600 Accounts/Yr.
© MarketStar Corporation – Confidential
§Activities Lead to Objectives Which Lead to Results§Coaching AOR = ?§Coach to ROA- what matters most?
© MarketStar Corporation – Confidential
What Gets Measured Gets Managed…
…What Gets Rewarded Gets Repeated© MarketStar Corporation – Confidential
THANK YOU!
@TODDHANDY
THANDY@MARKETSTAR.COM
Sales Start with Lead Generation & Qualification
Whether you’re buying lead lists from well-known sources or you’ve handed a phone book to your sellers and said “go get ‘em” [yeah, that’s very 90’s, right?], one thing is for sure- sales start with good, qualified leads. In this session recommended for sales leaders of all levels, we’ll cover designing the proper qualifying criteria (BANT? ANUM?), prospecting best practices and tools, how to use “AOR” to maximize prospecting results, and discuss other best practices designed to ensure your sales teams maximize their selling time with the right prospects at the right team for the right opportunity.
© MarketStar Corporation – Confidential
Recommended