Improved lead management will create more demand for our products: Leads get better follow-up through automated lead nurturing Leads will better understand.
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Presentation on theme: "Improved lead management will create more demand for our products: Leads get better follow-up through automated lead nurturing Leads will better understand."— Presentation transcript:
Improved lead management will create more demand for our products: Leads get better follow-up through automated lead nurturing Leads will better understand the benefits of our products Our sales team can focus on selling to the highest quality leads Improved lead management will create more demand for our products: Leads get better follow-up through automated lead nurturing Leads will better understand the benefits of our products Our sales team can focus on selling to the highest quality leads Lead Management and Marketing Automation Nurturing, Prioritizing, and Recycling Leads to Convert More Leads into Revenue INSTRUCTIONS: 1. Insert slides into your company template. 2. Update marketing metrics where noted and delete purple boxes when finalized.
Executive Summary The B2B Buyer has changed: need to pro- actively engage around educational topics Leads need to be nurtured until they are sales-ready Sales & Marketing need to be aligned more closely, creating a seamless buying process There is an opportunity to turn marketing into a revenue driver rather than a cost center Lead management provides a dramatic ROI: many benefits, low risk, modest investment 2 “Nurtured leads produce, on average, a 20 percent increase in sales opportunities versus leads that are not nurtured.”
The Changing B2B Buyer Buyers are seeking and finding more information on their own—they’re in control Search engines and vendor Web sites are top information sources in the buying process To drive revenue, marketers must become more adept at identifying sales-ready leads and nurturing the remainder Vendors need to interact with prospects before the sales conversation, by providing relevant information that is relevant in the earlier stages of the buying process Highlights from Enquiro’s BuyerSphere Project: Almost 50% of B2B buyers starts their buying process with online research Talking to vendors of often only the 4th step 3 Order of Things – High Consideration 50% 37.5% 25% 12.5% 0% 1st2nd3rd4th5th Online Research Talk to Users Talk to Vendors
Convert More Leads Into Customers Lead Nurturing, Lead Scoring, Lead Routing and Lead Monitoring close the gap in the middle of the funnel Improve the dynamics of your revenue cycle to convert more potential customers into customers 4 Current marketing focusCurrent sales focus The B2B lead Development gap Issue 1: Marketing hands off Leads too early. Unqualified Leads waste sales’ time. Issue 2: Sales cherry picks leads, letting longer-time-frame leads leak out. Issue 3: Marketing spends More to recapture lost leads. ReachInterestDesireConvertEnrichRetain Warm leads leak out Lead Management Closes the Gap in The Middle of the Funnel Source: October 2006, Best Practices “Improving B2B Lead Management”
Increase Productivity With Automation Run more campaigns without expanding the marketing team Create more consistent email follow-up Example: automate Webinar campaigns, including invitations, reminders, follow- up and reporting 5
More Qualified Leads with Lead Nurturing Goal: Increase the number of sales opportunities & deal size and reduce cost per qualified lead Companies are able to use existing staff for nurturing campaigns, increasing the number of sales-ready leads by 50% with little to no incremental investment ¹ Nurtured leads delivered 47% higher average order values than non-nurtured leads² 6 “Companies that excel at lead nurturing are able to generate 50% more sales- ready leads at 33% lower cost per lead.”
Increase Sales Effectiveness Improved Lead Quality = Increased Sales Productivity Prioritize leads based on quality and urgency Let sales send leads back to marketing for further nurturing, preventing leads that just "sit" somewhere Provide comprehensive lead activity history for sales 7 Priority #2: Increase Sales Effectiveness
Turn Marketing Into a Revenue Driver Show that marketing is a revenue driver, not a cost center. Optimize ROI Improve marketing's accountability by proving marketing’s impact on revenue Improve Revenue Performance: – Conversion rates – Time in a particular stage (velocity) 8 “Only 20% of companies believe they excel at measuring the performance of marketing initiatives.”
Marketing Automation + Lead Management Realize the benefits of lead management with new technology and improved processes Marketing Automation technology combined with Lead management processes provide the framework to: Convert more leads into revenue Run more campaigns Nurture leads automatically Make sales more productive Measure progress and results 9
The Value of Lead Nurturing Lead Nurturing helps turn more inquiries into qualified leads and decreases cost per qualified lead Conversion: Inquiry to Qualified Lead Cost per Inquiry Cost per Qualified Lead Without Nurturing 27%$50$185 With Nurturing 40%$50$125 Source: actual data from software vendor 50% increase 10
The Value of Lead Scoring With good info on lead prioritization, more reps meet quota and revenue goals are more likely to be achieved Source: CSO Insights How Easy Is it To Get Access to Information About Prioritizing Sales Efforts? 11
The Value of Lead Management MQL = Marketing Qualified Lead SAL = Sales Accepted Lead SQL = Sales Qualified Lead (i.e. sales opportunity identified) SiriusDecision' Waterfall Model gives benchmark numbers for conversion rates between the different stages in the funnel. With improved lead management, conversion rates will be higher. Example: Moving from Benchmark to Best Practice For each 1,000 leads, best-in-class companies create 46 more MQLs than benchmark companies (97 instead of 51). They create almost 10 additional deals (14.3 instead of 4.6 deals, a 300% increase). Estimate for : $ additional revenue per month (based on additional deals per month at an average deal size of $ ) SiriusDecisionsInquiriesMQLsSALsSQLsSQL-to-close BenchmarkN/A5.1%61%56%26.5% Best PracticeN/A9.7%82%62%29% 12
ROI of Lead Management Investment Marketing Automation software = $ / month Campaign development (consultant) = $ / month Incremental Revenue Estimated incremental revenue = $ (copied from previous slide) ROI = Incremental revenue – monthly cost Monthly cost = - = % 13 Investment in Lead Management pays itself back quickly Adjust this slide for your situation, then remove this purple bar.
Steps to Take to Improve Lead Nurturing Improving Lead Nurturing In Place: Monthly Email Newsletter Generic content (whitepapers, webinars, blog posts) To Implement: Drip email campaigns Content based on buyer profile and buying stage Automation of marketing campaigns (including Trigger-based nurturing) Integration of lead nurturing with CRM data and CRM activity A/B Testing Adjust this slide for your situation noting what you have in place, then remove this purple bar. 14
Improving Sales Productivity In Place: Automatically assign new leads to sales people To Implement: Lead Scoring based on profile and activity Prioritized lead list for sales Lead Activity Monitoring with real-time alerts Lead activity history in CRM system (email clicks, web visits, registrations) Adjust this slide for your situation noting what you have in place, then remove this purple bar 15 Steps to Take to Improve Sales Productivity
Improving Sales & Marketing Analytics In Place: Reporting on lead volume To Implement: Lead conversion rates Pipeline velocity (how fast leads flow through the funnel) Percentage of the pipeline that is Marketing- sourced Percentage of the pipeline that is Marketing- influenced Adjust this slide for your situation noting what you have in place, then remove this purple bar 16 Steps to Take to Improve Insight into Sales and Marketing Effectiveness
Getting Started / Next Steps These are suggested stages for developing a lead nurturing and scoring program. Revise where appropriate. Advanced Assessment and Continued Development Identify “hits” and “misses” Develop additional content resources for lead generation Test and optimize emails and landing pages for various segments Create advanced, automated, trigger-based campaigns for more segments Marketing Automation Strategy Development Select and implement marketing automation solution Develop preliminary lead scoring strategy Define high-value segments in database Create standard set of automated, trigger-based campaigns for key segments Lead Nurturing/Scoring Initial Assessment Identify current successes and areas for improvement Begin evaluating marketing automation software Begin developing list of feature requirements 0 3 months STAGE 1STAGE 2STAGE 3 17
Summary Benefits Increase Conversion Increase Marketing Productivity Improve Lead Nurturing Increase Sales effectiveness Turn Marketing into a revenue driver Solution Institute proven Lead management processes Adopt Marketing automation technology ROI Estimated ROI: % Large potential benefits Little incremental investment in resources 18 Populate ROI from slide 11 below, then remove this purple bar
Powerful and easy marketing automation Sales insights and sales effectiveness Analytics to measure, optimize, and forecast the revenue cycle Thought leadership, best practices, customer success 850 customers in 14 countries Marketo transforms the way that Marketing and Sales teams work – and work together – to accelerate predictable revenue at every stage of the Revenue Cycle