11 Tips to Optimize Your Multichannel Marketing Campaigns

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11 Tips to Optimize Your Multi-Channel Marketing CampaignsPresented by Tom JudgeVP Strategy, Direct Marketing Partners (DMP)VP Co-Chair, Direct Marketing Association of Northern CaliforniaChair, NorCal BMA Sales Lead Roundtable

Housekeeping announcements:Tom Judge Speaker Credentials: A 15 year practitioner in b2b sales lead industry. On both the end client side and the service agency side.VP Strategy & Bus Dev at Direct Mktg Partners. We operate a multi touch multi channel contact center, firms hire us because we specialize in planning, generating and qualifying sales-ready leads to businesses that need to feed sales teams to make their sales quotas.I taught a course in Sales Lead Management at SJSU and UC in conjunction with DMA-nc.I also currently run the NorCal BMA Sales Lead roundtable in the Silicon Valley, where our members meet and explore cutting edge lead generation and management.1

Challenges in B2B Multi-Touch Campaigns11 TipsCase Studies

Agenda

Context: My background and case examples are B2B. One of which won an ECHO award at the DMA. Ill insert action items for you.When you print the presentation be sure to select the Notes Page view.Most of my examples will be from firms with a complex sale process and a high lifetime value.My company manages many sales lead programs and measures all their KPIs, so the examples will be very relevant to these best practice tips that we see working.My assumption, is that you are all doing demand generation now in your jobs, and are running multi touch campaigns of some magnitude. And that you want to improve.2

CMO Council: Reports the Problem

Half of companies do not achieve sales quotas

The big problem3

CMO Council: Reports the CauseIt is clear that companies do not manage business leads in a way that optimizes their quality or value. After spending large sums on their initial acquisition through costly media campaigns and multi-channel content marketing programs, only a small percentage of companies effectively act on, nurture, convert, close, recover, or re-qualify leads over time.

The CMO Council 2011 State of Marketing Report

In other words, the CMO Council survey indicates that that firms are not hitting their sales numbers because they do not optimize their end to end lead-to-sales process!They appear to be doing a great deal of demand generation campaigns but they dont bring it home.Yes, we as a lead management firm see this quite frequently.This can be improved. My objective is to provide you with some proven tips that will shorten your learning curve, and boost your results.4

B2B Marketing Challenges

Top 2 = our focus

Source Marketing Sherpa, also concurs with the challenges of optimizing the lead-to-sales process. Ill focus on top 2.Other issues: Not enough of the qualified sales-ready leads that will close into dealsLengthening buy & sales cycleFalling response rates to most all mediaHaving to market to multiple decision makersManaging multi-media touch points

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11 Tips to Optimize Your Multi-Channel CampaignsTip 1: Clearly define a Sales-Ready Lead

Action item: Define each type of type of sales lead and stage in your end to end funnel. Write it into the plan AND get management and stakeholders to sign the document.

Sales and marketing teams must collaborateYes, create formal definitions of every stage in the lead to sales process and the sales-ready lead.Then get agreement, then get everyone to sign off!

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Sample of BANT+ Sales-Ready LeadsDetailed background information on the prospect and the selling opportunity helps drive more productive sales results

Each is a category of several background questions under each of the BANT that will provide more detail.Here is an example of those categories.Then, you go into the additional background to find out more on the opportunity.7

Design Lead Specs so they meet the sales teams requirementsProfileSegmentTrigger eventsComplianceAccess to fundingSize of opportunityTime frameUrgency Willingness to move forward and engage with sales team?

Heres why:Todays sales-ready lead profile has been expanded to help reduce the more expensive and time consumption of having the sales teams develop a prospect. This is now done for them, so they can focus on selling.Sales ready criteria is defined by the sales organization, not the marketing team. Nowadays, it goes well beyond basic web traffic scored leads. Be open minded to sales needs!Time frame to purchaseSize of opportunityWhether the purchase is budgetedJob title or buying roleWhether the respondent would like to see a sales rep or move forward in the sales process.

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9Marketing generates a lead with basic interest, not ready to engage a sales repSales teams reject unqualified leads, feels disconnected, requests sales-ready leadsThe numbers are unsustainable

Current marketing focusCurrent sales focusThe B2B leaddevelopment gapIssue 1: Marketing hands offLeads too early. UnqualifiedLeads waste sales time.Issue 2: Sales cherry picks leads, lettinglonger-time-frame leads leak out.Issue 3: Marketing spendsMore $ to replace lost leads.ReachInterestDesireConvertEnrichRetainWarm leads leak out

Gap in The Middle of the Funnel is Costing Time & $ MoneySource: October 2006, Best Practices Improving B2B Lead Management

Low Quality Leads Create Problems

Symptoms: Few conversions into customers

11/29/129What are the ramifications of low quality sales leads?Forrester illustrates what often happens when low quality sales leads are fed to a sales team. Sales are negatively impacted over time, marketing costs go up.

Tip 2: Map the end-to end processKnow your prospects buying processMap and document the end-to-end buying, selling and demand gen processes

There are three steps to plan out. Buying process/ selling process/ demand generation-lead generationThere will be multiple models for multiple market segments or solution/product lines.Have management sign off on these models!Run the numbers both bottom up and top down and create several models in your plan: Start at the buying processHow do they buy? Why would they buy any solution? Where do they research? How do they know they are in pain or have problems?? What are their triggers??Are they even aware they may have problems??Map the sales steps and current conversion rates to a saleCreate the multi touch demand generation, nurturing and lead qualification plan to feed that funnel. Create touch quotas for each touch metric.You will Measure all demand gen activities and compare back to these quotasAcknowledge that it takes multiple contacts before they decide to buy in most cases.

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11 Project Name: ABC Co. Sales Lead StrategyScenarioA1. SALES REVENUE:1,300,000/yrSales Revenue Goals/QTR$325,000Annual Revenue per sale$60,000# Sales Required/QTR5.4Estimated Closed Rate on Pipeline Opps.40%# Qual Leads Convert to Proposal / Pipeline/QTR14Est. forward conversion to Proposal Pipeline Rate on Sales-Ready Leads33%# Qualified Sales -Ready Leads Required @ A/B Level Quarterly (Prospects meeting sales-ready criteria) 41# Qualified Sales-Ready Leads Required @ A/B Level Per Month (Prospects meeting sales-ready criteria) 14

Start With the Sales Process Reverse Calculate the Sales Lead Requirements

11/29/1211Review Workbook and calculator tool.Review end to end in detail, this is a basic one.

Three Segment Example: Lead to Sale Touch Metrics

Here is a multi segment requirements calculator.The main difference in calculators is:This shows multi segments A/B/C and their variablesHave different sales conversion rates12

Formalize the Multi-Channel Lead Gen Campaign Plan & Touch Metrics

# Qualified Leads Required @ A/B Level & Demo Per Month (Prospects meeting qualification criteria) 673. MKTG. STRATEGY to FILL the PIPELINE:Campaign #1: E-Mail + OBTM (to tele-qualify & set appt.)26Campaign #2: Dir. Mail + OBTM (to tele-qualify & set appt.)0Campaign #3: OBTM Teleprospecting Alone (non-responders)15Campaign #4: PPC Paid Search Adv. No Telequalification.6Campaign #5: SEO Organic Search + OBTM (to tele-qualify & set appt.)0Campaign #6: Trade Show + OBTM (to tele-qualify & set appt.)15Total Pre-qualified field sales force ready Leads/ Mo.62Difference-5

Here we move into the demand gen/lead generation planning models.This is a summary of the sales-ready lead flows from each of the lead generation touch streams. Here we have 6 lead gen campaigns under one solution plan.This starts with the need for 67 sales-ready leads to feed the sales team to hit their sales numbers.Youll want to monitor these numbers daily and or at least weekly.13

14Multi-Channel Touch Funnel Building Metrics Plan

CRITICAL: This is one of a series of tactical funnel plans, that must include the multiple incoming inquiry lead sources as well as the outbound and nurturing efforts to make up the shortfall.Multiple models for each touch stream track: All Inbound sources and activities is key. SEO, PPC, Social, email broadcasts, content syndication. You can budget off of this metrics model.Note: As the CMO Council pointed out earlier, inbound leads often fall short on their touch quotas! Most firms are unaware of this until its too late and sales quotas are missed! Overcoming this deficit can be planned for using this modeling approach.Have all plans signed off on by senior management.Congratulations, These numbers are now your touch quotas!

Now youre ready to execute against your plan lead gen campaigns, remember, once under way compare your touch metrics daily/weekly to your plan to look for any shortfalls.14

11 Tips to Optimize Your Multi-Channel Campaig