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See how a LeadLife customer successfully implemented a lead scoring and nurturing system within their organization that increased their qualified leads by 78% and decreased their buy cycle time from months to weeks. By viewing this online presentation, you will also see how they :improved their overall conversation rates by 1.5-3x; increased the quality of leads going to Sales; expanded their transaction size and increased marketing ROI If you would like to automate lead scoring and nurturing, improve quality of leads passed to sales, or gain visibility into your leads, this presentation is for you!
Citation preview
Making Lead Scoring & Nurturing Work
Moderator:Andrew GaffneyEditorDemand Gen Report
Presenter:Paul DunayGlobal Director of Integrated MarketingBearingPoint
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Today’s Guest Speakers
Moderator:Andrew GaffneyEditorDemand Gen Report
Presenter:Paul DunayGlobal Director of Integrated
MarketingBearingPoint
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
The Need for Lead Scoring & NurturingAndrew Gaffney
EditorDemand Gen Report
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Marketers missing out on opportunities that are not “salesready”.
• Only 20% of leads are followed up on• Sales typically disqualifies 70% of leads based on lack of
budget, timing, etc.
• 80% of those “bad leads” do go onto buy within 24 months
Source: Sirius Decisions
The Need For Lead Nurturing
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
“Sales Nurturing” has emerged as an integral part of the overall demand generation process.
Some industry stats/benchmarks to consider: • 73% of companies have no process for requalifying leads;• 80% of sales close after the 5th contact• In some complex industries, it typically takes between 9 and
11 touches before a deal closes
Framing The Opportunity For Nurturing
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Buyers look for different kinds of information at various pointsin the buying cycle. Just because they didn’t buy todaydoesn’t mean they won’t be interested tomorrow.
• Recent study from Knowledge Storm/Marketing Sherpa found 61% of technology buyers want content that directly addresses the issues they face at each point in the decision process.
• Frequency is also important: 85% of tech buyers said they need to encounter at least three pieces of content.
Targeting The Different Phases of The Buying Cycle
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
As organizations are realizing that the quality of leads is often
more important than the quantity, lead scoring is becoming a
more common practice.
By targeting and profiling specific buyers during the lead generation process and then scoring leads, marketers are seeing payoffs in:
• Increased lead conversion rates• Shorter sales cycles • Improved win rates
Marketing Putting More Emphasis on Lead Management
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Sales reps are getting less “face time” with prospects and
are relying more on the marketing department to open
doors and provide intelligence on new accounts.
• According to ABM’s 2007 Digital Transformation study, 78% of business decision makers said the amount of time they spend with sales reps has “decreased or stayed the same during the past 12 months.”
Planning Lead Generation For 2008
The New Role of Lead Generation in Pipeline Optimization
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Making Lead Nurturing WorkPaul Dunay
Global Director of Integrated Marketing
BearingPoint
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Making Lead Nurturing Work
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
2 Factors Driving Lead Nurturing
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Benefits of Lead Nurturing Are Enormous
• Increase in Qualified Leads (78%)
• Decrease in Sales Cycle (from months to weeks)
• Decrease in Cost of Sales (10% decrease)
• Improved Conversion Rates of those leads (1.5 - 3.0x)
• Increase in Quality of leads going to sales
• Increase in Transaction Size
• Increase in Marketing ROI
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
How Do You Implement Lead Nurturing?
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Setting Up For Lead Nurturing
5 setup considerations:
1. What is the definition of a lead?
1. What are the attributes of a sales ready lead?
1. How should I segment my database?
2. How I score activities?
1. Finding the right technology
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Step 1: Define A Qualified Sales Lead
A qualified sales lead is when…
• BearingPoint & prospect have had a conversation
• Around a specific project
• Need has been identified
• Time frame validated
• Budget allocated
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Step 2: Define Your Target Profile
Attributes:
• Company size, Company type, Geographic location, Size of Revenues
Position:
• Job Function, Title, Authority level, etc.
Needs:
• Issues, problems, requirements
Readiness:
• Stage in the Buy Cycle, Timeframe, Budget
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Step 3: Segmentation Of Your Database
We have what I like to call 2 way segmentation in our verticals:
• Solution- Customer Relationship
Management- Enterprise Resource Planning - Risk, Compliance and Security- Enterprise Strategy &
Transformation- Finance Advisory- Growth & Innovation- Human Capital- Information Management- IT Strategy & Transformation- Managed Services- Merger Integration- Operational Excellence- Performance Management- Supply Chain and Sourcing- Systems Integration- Technology Infrastructure
• Industry- Automotive- Aviation & Transportation- Commercial Aerospace- Communications- Consumer Markets- Education- Energy & Chemicals- Financial Services- Government- Healthcare- Hospitality- Life Sciences- Manufacturing- Media- Technology
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Step 4: Scoring Activities
Look for “engagement” with the content – before having any
further conversations.
How many points is that engagement worth?
• If / then statements
• Is attending an event more important than a Webinar?
• How many activities need to happen = engagement?
• If nothing happens for 6 months do you reduce?
• My advice –> Keep it simple
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Step 5: Finding The Right Technology?
3 important things to consider:
1. Your vision will change
2. Long term decision
3. Pilot vs. Big Bang
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Let Me Show You An Example…
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Email Campaigns
Lead Nurturing
Events
Website Downloads
•Capture and score all leads•View all leads on one dashboard•Track ROI for each campaign
Promote leads above set score to Sales
Nurture leads with
drip marketing
Adwords
Banner Ads
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Overview Of The Process
Marketing Pipeline
Sales Pipeline
Inquiries
NurturingLeads
Customers
Returned Prospects
Email, Direct Mail, Website Downloads, Inbound Calls, Webinars, Roundtables
Sales Ready Leads
Not a Fit
Sales Generated Leads
Existing Clients
Measu
re R
OI
Inside Sales
Closed Loop
Feedback
Source: InTouch
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
A Look At Some Illustrative Data
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Drill Down On One Illustrative Lead
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Calculating ROI
Source: InTouch
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
5 Key Takeaways
1. STOP throwing the baby out with the bath water.
2. Take the time upfront to define the right attributes.
3. Set up a Marketing Funnel call and invite sales.
4. Sit on the Sales Funnel calls to hear feedback on your leads.
5. Don’t attempt this in isolation.
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Questions
© Copyright 2008 FirstWave Technologies, Inc. All rights reserved.
Co-Sponsors:
Thank you!
If you would like to request a copy of today’s presentation, please email [email protected]
For more information please contact Lisa Cramer at [email protected] or 678-672-3102.