Finish 2011 Strong: Six Funnel Focal Points to Maximize Time, Resources and Revenues - Part 1

Finish 2011 StrongSix Funnel Focal Points to Maximize Time, Resources and ,Revenues – Part I

B2B Lead Roundtable

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Poll

What are your top B2B marketing challenges right now?

a) Marketing to a lengthening sales cycleb) Generating perceived value in “cutting edge” product benefitsc) Generating public relations “buzz”c) Generating public relations “buzz”d) Generating high quality leadse) Generating a high volume of leads

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Poll

What are your top B2B marketing challenges right now?

a) Marketing to a lengthening sales cycle 10%b) Generating perceived value in product benefits 15%c) Generating public relations “buzz” 3%c) Generating public relations “buzz” 3%d) Generating high quality leads 52%e) Generating a high volume of leads 19%

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Top B2B marketing challenges

78%

35%

69%Generating high quality leads

41%

44%

39%

35%

Marketing to a lengthening sales cycle

Generating a high volume of leads2009 2010

36%

37%

33%

37%

Generating public relations “buzz”

Generating perceived value in “cutting edge” product benefits

36%

36%

33%

27%

Marketing to a growing number of

Competing in lead generation across multiple media

Source: MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded Aug 2010, N=935

34%g g g

people involved in the buying process

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Poll

How long is your sales cycle? From first inquiry to purchase.

a) Less than a monthb) 1‐3 monthsc) 4 6monthsc) 4‐6monthsd) 7‐12 monthse) More than 1 year

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Poll

How long is your sales cycle? From first inquiry to purchase.

a) Less than a month 12%b) 1‐3 months 26%c) 4 6months 26%c) 4‐6months 26%d) 7‐12 months 23%e) More than 1 year 13%

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Lengthening sales cycles

Less than 1 More than 1 month10%

year10%

1 ‐ 3 months30%

7 – 12 months26%

4 – 6 months24%

Source: MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded Aug 2010, N=935

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September is one week away

How can we maximize the resources we have to achieve our end‐of‐year goals within budget and time constraints?end of year goals within budget and time constraints?

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About MECLABS• More than 10 years of research• Over 1 billion emails• 1,300 major experiments• 10,000 sales‐paths tested• Hundreds of publications and conferences• 5 million phone calls• 500,000 conversations

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About Brian Carroll

Brian Carroll is Executive Director of Applied Research at MECLABS. Brian is also co‐founder of InTouch (now part of the MECLABS Leads Group), a B2B marketing firm and one of the first companies to provide lead generation services for the complex sale.

Author of the popular book Lead Generation for the Complex SaleAuthor of the popular book, Lead Generation for the Complex Sale (McGraw‐Hill), Carroll is a leading expert in lead generation and he's profiled and regularly quoted in numerous publications. Brian also speaks to 20,000 people a year on improving sales effectiveness and lead generation strategies

@brianjcarroll

lead generation strategies.

He’s been profiled and regularly quoted in numerous publications such as BtoB Magazine, Selling Power, The Wall Street Journal, Entrepreneur, Target Marketing, Inc. magazine, Marketing News, DM News, MarketingProfs, MarketingSherpa, Software CEO and CMO Magazine.

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About Pamela Markey

Pamela Markey is the Director of Marketing at MECLABS.

Pamela builds strategic partnerships, plans promotional initiatives, and is responsible for Applied Research communication‐ and marketing‐related activities. Her first role at MECLABS was developing MarketingExperiments case studies and Webclinics and she continues to support the Conversioncase studies and Webclinics, and she continues to support the Conversion and Leads group teams on special client research projects.

Before joining the team in June 2009, Pamela worked for seven years as a wireless marketing manager at Bell Canada, during which time she managed

@pamelamarkey

campaigns for the Solo Mobile and Bell Mobility brands.

Pamela’s work has been recognized at Cannes, the CLIOs, and the Canadian Marketing Awards among others. She started her career as a marketing intern at Microsoft while completing her Bachelor of Commerce degree atintern at Microsoft while completing her Bachelor of Commerce degree at Dalhousie University.

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Clarify channel message

Optimize list approachp pp

Re‐engage your base

Tune data streams

Time it right

Close the loop

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Tune data streams

Time it right

Close the loop

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Which B2B search ad would you click? Why?

CalPOP Data Center Next‐Gen Data Center

data centers Search

CalPOP Data Center$88 Unmetered bandwidth data center 24hr on‐site support ‐ 100% uptimecalpop.com

Next‐Gen Data Center100% Uptime, SAS 70 Audited Greenfield Data Center. Tour Onlinewww.DataFoundry.com

Dedicated Web ServersSecure, World‐Class Data Centers, Fanatical Support™ & 0% Downtime!

Qwest® Data ServicesCustomized data center for medium to large business. pp

www.Rackspace.com/Data‐Centers www.Qwest.com/Business

Terremark: Industry Leader E Solutions Data CentersWorld Class Hosting Solutions. Live Chat with a Specialist Today!www.terremark.com

Great Deals & Service Tier 3 SAS 70 813‐301‐2600 Move in Today 24/7/365www.esnet.com

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Experiment: Background

Experiment ID: (Protected)Location: MECLABS Conversion Group LibraryTest Protocol Number: TP1214

B k d A l di f id

Test Protocol Number: TP1214

Research Notes:

Background: A leading software provider

Goal: To increase total leads captured

Primary research question: Which process will generate the most leads?

Approach: Lead generation process redesign, with a focus on strengthening the communication of the value propositionthe communication of the value proposition

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Original Ad

{Keyword} Business SoftwareAward‐Winning Business Software. Fully Integrated. Free Trialwww.NetSuite.com/Business

The experiment ran for 18 weeks, testing 16 different ads (control PPC ad above) and observing more than 950,000 unique impressions.above) and observing more than 950,000 unique impressions.

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Experiment: Example Treatments

{KeyWord} Business SolutionsRun Your Entire Business with One

{KeyWord} Business SolutionsSupport the Entire Company with One L C t S l ti N tS itSystem. Accounting + CRM. Free Trial.

www.NetSuite.com/Business‐Solutions

#1 Business SoftwareBusiness Software Suite

Low Cost Solution. NetSuite.www.NetSuite.com/Business‐Solutions

#1 Business Software 6459+ Clients. On‐Demand Access. One System for the Entire Company.www.NetSuite.com/BusinessSoftware

#1 On‐Demand. 6459+ World ClientsAward‐Winning Solution. Free Trialwww.NetSuite.com/BusinessSoftware

Small Business Software Worlds #1 On‐Demand Suite. 6459+ Clients Free Trial Today

Small Business Software 6459+ Clients Worldwide Free Trial Software You Won't Outgrow 6459+ Clients. Free Trial Today.

www.NetSuite.com/BusinessSoftwareSoftware You Won t Outgrow.www.NetSuite.com/BusinessSoftware

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Experiment: Results

21% Increase in ClickthroughTh d t d 20 9% li k th th i i l

O i i l Ad B P f i Ad

The new ad generated 20.9% more clicks than the original

Business Software Suite#1 On‐Demand. 6459+ World Clients

{Keyword} Business SoftwareAward‐Winning Business Software.

Original Ad Best Performing Ad

Award‐Winning Solution. Free Trialwww.NetSuite.com/BusinessSoftware

gFully Integrated. Free Trialwww.NetSuite.com/Business

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Experiment: A Holistic View

The PPC ad test was only part of a testing strategy that involved the entire conversion funnel from the ad to the landing page and form.

Business Software Suite#1 On‐Demand. 6459+ World ClientsAward‐Winning Solution. Free Trialwww.NetSuite.com/BusinessSoftware

20.9% 54.26% 97.27%20

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Experiment: Results

272% Increase in Overall ConversionThe optimized path’s conversion rate increased by 272.2%

Metric Control Treatment Relative Difference

PPC Advertisement 0 89% 1 08 20 9%PPC Advertisement 0.89% 1.08 20.9%

Landing Page Clickthrough 7.17% 11.06% 54.26%

Form Completion 15.84% 31.25% 97.27%

Impression‐to‐lead Conversion .009% .033% 272.2%

What you need to understand: In this experiment, a 272% increase in l d d d h b d h

!conversion led to 268% more projected revenue and, when combined with the corresponding 66% reduction in cost‐per‐acquisition, the optimized path produced more than four times the monthly profit (302% increase).

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What made this ad successful?

Business Software SuiteBusiness Software Suite#1 On‐Demand. 6459+ World ClientsAward‐Winning Solution. Free Trialwww.NetSuite.com/BusinessSoftware

The success of this PPC ad over the original can be traced back to the systematic approach the researchers took in optimizing for offer response.

But more narrowly to one key aspect of that methodology:But more narrowly, to one key aspect of that methodology: The Clarity of the Value Proposition.

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Value Proposition Worksheet

• Dig into the reasons why your ideal customer should buy from you and not your competitor

• Score the quality and uniqueness of your value proposition

• Use the Value Proposition Evaluation Matrix to approximate the potential appeal of an offer

• Focus on the clarity of your messaging

MarketingExperiments.com/ValuePropMarketingExperiments.com/ValuePropDownload free – no sign up required

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Tune data streams

Time it right

Close the loop

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Experiment ID: Telecom organization data testLocation: MECLABS Leads Group Research LibraryTest Protocol: LG1001

Background: A telecom organization engaged MECLABS for lead generation

Test Protocol: LG1001

Objective: To determine if higher cost/higher quality data can drive down overall cost per lead – so we can focus on the most efficient list source.

Primary research question:Which campaign data source will drive the mostPrimary research question: Which campaign data source will drive the most efficient value?

Test Design: Four multi‐source lists, a user‐generated list, and a single‐source

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list were tested under consistent experiment conditions, with 300 accounts and 80 hours of Teleprospecting hours

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Experiment: Results

Segments Record Cost

No longer with company

Dials to disqualify

Dials to sales‐ready lead

Multi source 1 $24.00 1% 90 77

Multi source 2 $14.50 .06% 53 110

Multi source 3 $6.00 14% 27 127

Multi source 4 $3.00 23% 26 135

U t d $1 00 67% 11 240User generated $1.00 67% 11 240

Single source $0.49 13.3% 7 210

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Experiment 2: Record Cost$30.00

$24

$20.00

$25.00 $24

$10 00

$15.00

$5.00

$10.00

$1$0.00

Multi 1 Multi 2 Multi 3 Multi 4 User‐gen Single

$1

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Experiment 2: List Cost

$25 000

$30,000

$24k

$20,000

$25,000 $

$

$15,000

$9k

$5,000

$10,000 $

$0


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Experiment 2: Call per lead

250 00

300.00

240

200.00

250.00

150.00

77

50.00

100.00 77

0.00


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Experiment 2: Cost per lead

$1 000

$1,200

$954

$800

$1,000

$

$600

$373

$200

$400 $373

$0


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Experiment 2: Cost of calling

$300,000

$350,000

$288k

$250,000

$150,000

$200,000

$92k

$50,000

$100,000 $92k

$0


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Experiment 2: Total campaign cost

$300,000

$350,000

$297k

$250,000

$150,000

$200,000

$116k

$50,000

$100,000

$

$0


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Experiment: Results

60.85 % Decrease in Overall Campaign CostsThe $24/record list requires 60.85% less investment than the $1/record list

Segments Record Cost Cost per Lead List Cost Call Cost Total Cost

Multi 1 $24 $373 $24,000 $92,400 $116,400

User‐gen $1 $954 $9,350 $287,980 $297,330

Difference ($14,650) $195,580 $180,930

What you need to understand: The “best deal” list at $1 per record results in a campaign that is over 2.5 times more costly than the most efficient list.

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But what about the time investment?

Segments Record Cost

No longer with company

Dials to disqualify

Dials to sales‐ready lead

Multi source 1 $24.00 1% 90 77

Multi source 2 $14.50 .06% 53 110

Multi source 3 $6.00 14% 27 127

Multi source 4 $3.00 23% 26 135

U t d $1 00 67% 11 240User generated $1.00 67% 11 240

Single source $0.49 13.3% 7 210

What you need to understand: A rep would need to spend 20 hours of calling to generate 1 lead in the user‐generated segment vs. 6 hours in multi‐source segment 1.

!

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Tune data streams

Time it right

Close the loop

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• Reconnect with prospects you have engaged months ago – do not focus only on net new leads as they will likely build your base for early next year

• Prospects that already know you and your story are more likely to buy since they may have done so already – significantly shortened sales cycle

• Continue or pick up the conversation you already started

• Make them an offer they can’t refuse and build loyaltyl i l d li• Multiple product lines

• Upgrades• Bundled opportunities

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Case Study

Experiment ID: Infusionsoft email nurturingLocation: MarketingSherpa Case Study LibraryTest Protocol: CS31985

Background: A B2B company with a short sales cycle launched an email series to

Test Protocol: CS31985

Research Notes:

nurture older leads

Objective: To reinvigorate leads that have passed the initial 30 day window in which most clients are most likely to convert.most clients are most likely to convert.

Primary research question: Which tactics can be implemented to re‐engage existing leads in the database?

Test Design: Intensive initial 30‐day lead nurture campaign followed by regular newsletters, webinars and long term added‐value email series.

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Step 1: Nurture the fresh leads first

Leads generated through content downloads

Topic C Topic DTopic BTopic A

Week 1

Week 2

CTA: sign up for online software demo

Online Software Demo

Sales‐ready leads Re‐engagement38

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Step 2: Maintain an ongoing email program

If leads finish the initial nurturing series without converting, Infusionsoftsends two other types of emails to the audience:

Email Newsletter

This monthly email includes short columnsfrom the company CEO, as well as information on industry events, book reviews, marketingon industry events, book reviews, marketing advice and other content related to the company.

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Step 2: Maintain an ongoing email program

Once leads finish the initial nurturing series without converting, Infusionsoftsends two other types of emails to the audience:

Monthly webinar invitations

• The term "webinar" in its subject line• Personal salutation• Description of the eventDescription of the event• One link and one button to register• Header image linked to registration page

Manage your email subscriptions

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Step 3: Design long‐term "tips" email series

In addition to the newsletters and webinar invitations, a biweekly email series that features marketing tips and other practical information for 12 months. Leads enter this series immediately after finishing the short‐term series.

Primary Goal: Maintain contact with the leads and showcase the company's expertise

De‐emphasized call to action: Register for online demo

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Step 3: Design long‐term "tips" email series

Pro‐active option to opt‐out

Above and beyond CANSPAM, an email is sent three months into this series which gives them an opportunity to opt‐out.g pp y p

Shows respect for the prospect and gives them a chance to reaffirm their interestthem a chance to reaffirm their interest.

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Step 4: Avoid overwhelming the audience

The schedules and scenarios surrounding the email marketing were thoroughly outlined and conditions were set, including:

• Stop emailing sales‐ready leads

Leads that scheduled an online product demo stop receiving the nurturingLeads that scheduled an online product demo stop receiving the nurturing emails and are handed to the company's sales team.

• Start over for new downloads• Start over for new downloads

Any leads in the long‐term series that fill out a form to download more content are taken out of the long‐term series and placed into one of the f h ifour short‐term series.

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Results

Customers are from leads generated over three months agoover three months ago

Customers are from leads generated over one year ago

Key takeaways: Focus on your fresh, relevant leads but don’t neglect those you met three or more months ago

!neglect those you met three or more months ago.

Ensure your brand stays top of mind but communicate to them in a way that is relevant and respectful.

What can you do to reach out to your existing list in a helpful way?

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Funnel Focus Next Steps

• Complete the Value Proposition Worksheet


Optimize list approach

• Adjust your channel communication to align with your worksheet discoveries

• Align your conversion path with your


Tune data streams

Time it rightg y p ychannel communication

MarketingExperiments com/ValueProp

Time it right

Close the loop

MarketingExperiments.com/ValueProp

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• Take a step back from your lists to determine what is driving the results –



and what isn’t• Consider your resource cost as well as

hard cost of lists


Tune data streams

Time it right• Adjust and recalibrate your focus on lists

that will drive leads in the next 4 months

Time it right

Close the loop

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• Dig back through your customer lists from 3, 6, 9 months ago – what was



their last touch?• Re‐engage in a relevant, respectful way

– give them something of value


Tune data streams

Time it right• Start simple and build on success

Time it right

Close the loop

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Join us September 20, 2011 for Part 2Clarify channel message


Register now:B2BLeadBlog.com/Part2


Tune data streams

Time it rightTime it right

Close the loop

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Thank You