Putting Process First: A Roadmap For Successful Lead Management & Marketing Automation

Pu#ng Process First

A Roadmap For Successful Lead Management & Marke<ng Automa<on

  Launched in April 2007 to track best practices in lead generation, lead management

  Newsletter has grown to more than 24,000 readers

  We also offer a menu of research and best practices reports

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Panelists

Jay Hidalgo CEO The Annuitas Group

Chris Koch Director of Research and Thought Lead ITSMA

Andrew Gaffney Editor DemandGen Report

PN4902

DemandGen Report Webinar Putting Process First: A Roadmap for Successful Lead Management & Marketing Automation

Chris Koch Associate VP Research and Thought Leadership ITSMA

DemandGen Report Webinar | PN4902 © 2010 ITSMA. All Rights Reserved. 6 Lead Management & Marketing Automation

2010 is the year of Marketing Transformation


Marcom spending has been shifting to relationship building activities

5 3 6 10 11 11 6 9 12

11 12 12 9 13

11 12 13 14

12 14

12 11

13 15

5

7 2

8 7

2

1 3

2 1

7

12 11 10

10 11

9

8 10 16

14 12

11

5

11 10

6 6 34

28 18 14 11 11

1999 (N=25)

2000 (N=17)

… 2003 (N=25)

… 2008 (N=20)

2009 (N=16)

2010 (est.) (N=16)

Collateral (brochures, datasheets, etc.)

Advertising

Public trade shows

Direct marketing/database marketing

Sponsorships of sports/cultural events

Other (hospitality, community/civic activities, demo centers, etc.) Interactive/online/digital marketing

Private events, seminars, and conferences Public/press/media/ community relations Industry analyst relations/events

Source: ITSMA, Budget Allocations and Trends: Key Metrics Survey, 2000, 2001, 2004, 2009, 2010

Mean % Marcom Budget 1999–2010

Trad

ition

al M

arke

ting

Tact

ics

New

& R

elationship B

ased Marketing

Activities

8


Death of traditional media   B2B ad revenues down

more than 50% since 2001

Search is more important and social media adoption continues to build

Sources: ITSMA and PAC: How Customers Choose Solution Providers, 2009; Forbes and Google: The Rise of the Digital C-Suite: How Executives Locate and Filter Business Information; American Business Media: Business Information Network Reports.

Search is becoming dominant in the buying process   79% of executives perform at least three web searches per day   Buyers proactively seek information about

providers themselves 63% of the time

Customers are adopting social media   At least 50% of executives under 40 maintain a work-related

blog, Twitter their thoughts, and visit online social networks   5% of executives over 50 share their thoughts via social media   55% of US IT buyers—75% across all regions sampled—use

social media in the buying process


Search and social media are removing salespeople from the earliest stages of the buying process

Buying Processes

Relationship Stages


Create a publishing process with an editorial calendar

Editorial calendar aligned with buying process and target audience

Source: ITSMA, 2010

Archetype Month Epiphany Awareness Interest Confidence Loyalty

JAN Green concepts Green ROI Green in Action Green checklist Extending green

Functional Heads

How Many Mips = Green?

Which Server is Greenest?

How to Migrate Data Centers to the Green

Model

Your Green Data Center Checklist

How to Integrate Next-Gen Green

Technologies

Channel Webinar Blog Case studies Video Community forum

Business Strategists

The Executive’s Guide to Green

How to Sell Green to the CEO

Creating a Green Agenda for Partners

What’s the Total Return from Green?

Green Tech Advisory Council

Channel Podcast Whitepaper Video ROI calculator

Archetype 3

Channel


Tracking customer behavior in the earliest stages

of the buying process is now critically important


Few companies have formal lead management programs

We have a common definition of and taxonomy for lead tracking, adopted

globally by all BUs, sales, and marketing.

There is a formal system in place to track marketing’s influence on lead generation

and closed deals.

When prospects are not yet ready to buy, we maintain a relationship with them

through a formal lead nurturing program.

We track and evaluate all “impressions” (e.g., touch points, meetings, and

marketing assets) against the specific prospect.

We map where the prospect is in the buying process and customize marketing

programs and activities to that specific prospect in that specific phase.

% of Respondents (N~30) In Place For More Than One Year

Implemented Within the Last Year

Under Way/ Partially

Implemented

In the Planning Stages

Do Not Do, No Plans at This Time

Source: ITSMA Survey: Sales Enablement, August 2009

7

10

17

20

40

3

3

7

7

13

20

37

37

23

23

47

30

27

37

13

23

20

12

13

11


There is a correlation between the degree of lead management automation and success How would you rate your organization’s overall capabilities in each of these areas? Mean Rating (N~20)

Email marketing

Web analytics and optimization

Content management and delivery

Customer/contact management

Monitoring brand awareness and opinions

Campaign management

Lead management

List management

Segmentation and predictive analysis

Mktg. performance management/planning

Degree of Automation: High Moderate Low


Marketing would benefit from more automation in lead management

Note: Mean ratings based on a 5-point scale where 1=no ROI and 5=very high ROI. Source: ITSMA, Online Survey: Marketing Automation, August 2008

Rate the current or expected ROI of automating the following marketing processes: Mean Rating (N~20)

Lead management

Customer/contact management

Campaign management

List management

Web analytics and optimization

Segmentation and predictive analysis

Content management and delivery

Email marketing

Monitoring brand awareness and opinions

Marketing performance management/planning

Degree of Automation: High Moderate Low


Marketers must link content and behavior through a closed-loop lead management process

Five steps in developing an automated lead management process:

Collaborate with IT to pick a technology

to support the process

Score lead nurturing activities

(Keep it simple!)

Integrate and segment your

database

Determine the attributes of a

sales-ready lead Example: •  We have had a

conversation with the person.

•  The conversation was around a topic area that we can deliver on.

•  A need has been identified in the topic area we discussed.

•  A budget has been allocated.

•  A timeframe has been set.

Create a shared definition of a lead with sales


Thank You! Chris Koch Associate Vice President Research and Thought Leadership ITSMA [email protected] +1-781-862-8500, Ext. 145

Jay Hidalgo, CEO – The Annuitas Group

DemandGen Report Webinar Putting Process First: A Roadmap for Successful Lead Management & Marketing Automation

So HOW do you implement Lead Management?

•  So how does an organization make the change and bridge the gap to effective Lead Management?

•  What needs to be done to ensure a buyer centric approach?

•  What processes need to be developed?

Lead Management is a PROCESS

Lead Management – A Holistic Approach

Source: Sirius Decisions; Forrester

Lead Management

Data

Lead Planning

Lead Rou<ng

Lead Qualifica<on

Lead Nurturing

Metrics

Putting the Lead Management Process in Place

Building the Process – Where to Start?

• Conduct an Audit – Know What You Don’t Know

•  This is not a marketing only exercise It is cross-functional

•  Marketing •  Sales •  Operations •  Finance •  IT

•  Process before Technology

Data

• Determine the validity of your database – How old are the records?

• Determine your approach to data hygiene and what team will own it

• Where will you store the customer & prospect data?

• Define and control who will have access to that data

•  Segment the data to optimal success based on ideal target and customer profiles

Mktg Nurture Campaign

Lead Nurture Campaigns

Mktg Nurture Campaign

Sales Nurture Campaign

Lead Planning

240 Mktg Qualified

(MQL)

3,000 Responses

120 Sales Accepted

Leads

Sales Close Rate 33% 24 closed deals

Additional Monthly

Revenue @ $100k ASP

$2.4M per month

60% Conversion

SQL

2,400 Valid

Responses

80% Conversion

10% Conversion

(MQL)

50% Conversion

(SAL)

72 Sales

Qualified Leads(SQL)

Post-Sales Nurture Campaign

Lead Qualification

• Determine between sales and marketing the definition of a lead

• Define the qualification criteria

•  Set-up a lead scoring model that allows for quality leads to flow to sales

• What happens to non-qualified leads?

•  Focus on quality not quantity

Lead Nurturing •  Building a relationship with your prospect.

Not all responses are ready to buy now

• Collaborate with sales on the content

• Map it out – use a diagram to determine how the flow of your campaigns will work

•  Automate your lead nurturing. Not doing so will decrease your chances for success

•  Sales that were nurtured provide a 47% higher order value than non-nurtured sales.

Source: Aberdeen

Lead Routing

• Determine how marketing will pass qualified leads to sales

•  Avoid the black hole, know how the leads will be tracked

•  Provide sales the ability to pass back for further nurturing

• Develop SLA’s and Business Rules to ensure proper follow-up and eliminate fall out

Metrics

• Why are we running a campaign or marketing program?

• What benchmarks and KPI’s do we have, and how often do we measure against them (monthly, quarterly, etc.)

• What do we actually do with the metrics?

•  Pull both marketing and sales metrics for a complete 360o view of your organization

Automate the Process

•  Automation to Support the Process

•  Process based automation will allow you to improve the bottom line and improve value

•  Automation is well beyond feature & function, it enables the relationship process with the dialogue

Key Takeaways

•  View Lead Management as a PROCESS

•  To get started, conduct an audit

•  Lead Management is not a “marketing only” exercise. Sales is key and must be involved in the process

•  Automate the process, not the other way around

Contact Information

Jay Hidalgo The Annuitas Group www.annuitasgroup.com [email protected] Phone : (888) 299-9889 Twitter: @jayhidalgo

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