5 key components for establishing and optimizing lead nurturing campaigns

5 Key Components for Establishing and Optimizing Lead Nurturing Campaigns

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April 12, 20121:00 PM ET

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Jen DoyleSenior Research Manager, [email protected]@JenLDoyle

Kaci Bower Senior Research Analyst, [email protected]@KaciBower

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Join the conversation on Twitter

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Research Background1,745 B2B organizations were surveyed on:

• Top challenges

• Barriers to success

• Best practices

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Today, we’re going to discuss

1. Key findings from research from more than 1,745 B2B marketers

2. A case study in which a B2B company increased sales conversions by 190%

3. Five key components you can use to increase the ROI of your lead gen efforts through nurturing

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Key Finding: Challenges are still growing

2009 2010 201138%

39%

40%

41%

42%

43%

44%

45%

39%

44%

45%

Year of Response

Aver

age

Indi

catio

n of

Cha

lleng

es

Source: ©2011 MarketingSherpa B2B Marketing Benchmark Survey Methodology: Fielded June 2011, N=1,745

B2B organizations rated the pertinence of several challenges including:

1. Lead quality2. Lead volume3. Conveying value4. Competing in

multichannel lead generation

5. Generating PR buzz

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B2B organizations rated the pertinence of several challenges including:

1. Lead quality2. Lead volume3. Conveying value4. Competing in

multichannel lead generation

5. Generating PR buzz

Key Finding: Challenges are still growing

2009 2010 201138%

39%

40%

41%

42%

43%

44%

45%

39%

44%

45%

Year of Response

Aver

age

Indi

catio

n of

Cha

lleng

es

Average indications of challenges continue to grow

YEARYEAR


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Key Finding: Tactics Losing Effectiveness

• External and internal factors influence challenges and perceptions

• Evolved marketplace due to the economic crisis

• Adoption of latest best practices

Print advertising

Social media

Direct mail

Public relations

Telemarketing

Paid search (PPC)

Virtual events / webinars

Trade shows

Email marketing

Search engine optimization (SEO)

Website design, management and optimization

6%

6%

6%

13%

13%

16%

19%

20%

26%

29%

31%

10%

16%

22%

31%

35%

23%

43%

25%

40%

36%

50%

20102011


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Print advertising

Social media

Direct mail

Public relations

Telemarketing

Paid search (PPC)

Virtual events / webinars

Trade shows

Email marketing

Search engine optimization (SEO)

Website design, management and optimization

6%

6%

6%

13%

13%

16%

19%

20%

26%

29%

31%

10%

16%

22%

31%

35%

23%

43%

25%

40%

36%

50%

20102011

Key Finding: Tactics Losing Effectiveness

• External and internal factors influence challenges and perceptions

• Evolved marketplace due to the economic crisis

• Adoption of latest best practices

Dramatic declines on perceptions on effectiveness of all tactics

YEARYEAR


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“Generating valuable content. Finding the right system, right capabilities, at the right cost to automate lead generation and nurture programs.”

“We lose many of our leads throughout the sales funnel.”

CMOs speak out on toughest challenges

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So what’s really at the root of all these challenges?

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Adoption of latest best practices is sluggish

68% Have not identified their Sales and Marketing funnel

61% send all leads directly to SalesOnly 27% will be qualified at time of conversion

79% have not established lead scoring

65% have not established lead nurturing

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How can I generate more high-quality leads, and improve lead generation ROI?

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Case Study: Background

� Experiment ID: JaspersoftLocation: MarketingSherpa Case Study LibraryTest Protocol Number: #CS31447

Research Notes:

Background: A B2B software developer generated a large database of open-source clients, and needed to convert them to paying customers.

Goal: To segment and nurture open source database to move leads through the funnel.

Primary research question: Which nurturing approach will convert the most leads?

Approach: Implement a lead nurturing effort with segmentation, scoring and automation to progress open-source clients through the funnel to paying customers.

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Case Study: Revamping Lead Gen

“My challenge is not to increase the number of leads, but to get improved conversion rates throughout the funnel.”

– Nick HalseyVP MarketingJaspersoft

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Case Study: Revamping Lead Gen

The goal was to create a powerful combination of:

• Customer profiling• Database segmentation• Automated campaigns• Outbound promotions• Lead scoring

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Case Study: A seven step approach

Merge databases and systems into a unified platform

Segment databases according to profile and activity

Customize outbound communications for contacts’ preferences

Use dynamic registration forms to develop prospect profiles

Create automatic drip campaigns for specific actions

Route leads to the appropriate sales person

Implement lead scoring

2 31 4 5 6 7

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Customer-centric messaging

CMSCMS

Web Analytics

Open Source

Email System Mar

ketin

g Au

tom

ation

Centralized & Segmented

Database

Four Nurturing Tracks

1. Customer2. Community Member3. Corporate North America4. Corporate Europe

Ecommerce

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Applied demographic and behavioral scoring

Collected information through dynamic registration forms

Handed leads off to Sales once the qualified lead threshold was met

Qualification and scoring

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Hand-off to Sales

Triggered nurturing and hand-off

Automated sub campaigns

Actions indicating readiness to buy

Series of five automated emails

Download of 30-day trial version of software

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Case Study: Results

Increase in Sales ConversionsSince implementing the new strategy, the team has achieved

a 190% increase in conversion rate from qualified lead to close.

190%

Highest Close Rate: Prospects who asked to be contacted by sales

Second-Highest Close Rate: Prospects who enter the automated drip campaign for the professional evaluation 30-day trial

Third-Highest Close Rate: Prospects who have purchased something from the ecommerce store

1

2

3

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How can we approach the funnel in a new way?

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B2B Funnel 1.0

Leads enter the system

Leads go directly to Sales

Sales cherry-picks the best leads

Sales spends significant time “checking in” with the rest to see if they are ready to buy

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B2B Funnel 2.0

Leads Scored per Criteria

Qualified leads go to sales

Non-qualified leads stay inmarketing

for nurturing

Qualified lead criteria established

Leads enter system

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What’s the key differentiator?

Not all leads are immediately sales-ready, and require further nurturing

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Organizations using lead nurturing experienced a 35% lift

Nurturing provides the information leads need to progress through the funnel

Average Lead Gen ROI by use of Nurturing

Average lead generation ROI

107%

79%

Currently using lead nurturing Not using lead nurturing

+35%


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Funnel optimization demonstrates lifts in ROI


95%80%

148%

Trial Transition Strategic

• Average lead generation ROI by funnel optimization maturity

• From trial to strategic phases, organizations received a 65% lift in lead generation ROI

+65%


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Overall funnel op leads to dramatic lift in ROI


155%

59%

Currently using marketing automation softwareNot using marketing automation software

• Average lead generation ROI by use of marketing automation software

• Organizations using automation experienced a 163% lift in lead generation ROI

+163%


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Audience Question:

“We are just beginning a drip campaign for lead nurturing. How do we distinguish a prospect

from a lead and what is the best way to develop content for both of these audiences?”

- Sara Lambert SlimGenics

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Five Key Components for Nurturing

5. Optimization

1. Segmentation

2. Content

3. Channels

4. Timing

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1. Segmentation

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Segmentation

Deliver highly relevant content by segmenting based on multi-dimensional traits, and developing unique lead nurturing tracks for segments.

• Buyer personas identify traits, interests and needs

• Balance buyer personas with buying cycle stage

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Audience QU:

“There are multiple ways to segment B2B buyers -- by vertical market, by job title, by size of

purchase, by location, and more.

But which segmentation strategy consistently generates the best results?”

- Michael Thimmesch Skyline Exhibits

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Buyer Persona TraitsCreate research-based, detailed profiles that represent actual, real-life groups of your target audience. Include demographics and behaviors.

Demographics Behaviors

Job title / responsibilities Key concerns for purchase

Organization size Interests

Primary market Motivations

Industry Expectations

Location Goals

Budget Preferences

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Exercise: Which types of content have you found to be the most

successful for nurturing?

Submit your answers via the chat tool or tweet us at

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Early Buying Cycle StagesNurturing Type Buying Cycle Stage Campaign Goal Campaign Examples

Engagement Nurturing

Early Build stronger relationships & increase interest

Thought leadership content

Outreach Nurturing Early to mid Captures new leads, permissions, additional data

Valuable download – whitepaper or report

Ongoing Nurturing All Consistent communications to stay top of mind

SEGMENTED monthly newsletter

Conversion Nurturing

Late Support sales conversion

Buyers guides, ROI calculators

New Customer Nurturing

End of initial buying cycle

Repeat purchases, reputation, referrals

How to info, getting started, support

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Early to Mid Buying Cycle StagesNurturing Type Buying Cycle Stage Campaign Goal Campaign Examples






Ongoing Nurturing All Consistent communications to stay top of mind

SEGMENTED monthly newsletter








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Early to Mid Buying Cycle StagesNurturing Type Buying Cycle Stage Campaign Goal Campaign Examples






Ongoing Nurturing All Stay top of mind SEGMENTED monthly newsletter








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Late Buying Cycle StagesNurturing Type Buying Cycle Stage Campaign Goal Campaign Examples














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Late Buying Cycle StagesNurturing Type Buying Cycle Stage Campaign Goal Campaign Examples














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Audience QU:

“Interested in learning whether content gating (having users fill out a form before downloading

assets like white papers) really works, and how/why”

-Kerry Skemp SnapHop

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Sample Segmentation Plan

Engagement

NurturingOutreach Nurturing

Ongoing Nurturing



Buyer persona 1

Buyer persona 2

Buyer persona 3

Buyer persona 4

Buying Cycle

Pers

onas

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1. Segmentation

2. Content

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ContentCreate important, relevant and valuable content that will nurture your leads through the buying cycle.

Challenge• Creating content is expensive

and time consuming

• Marketers constantly have a need for more quality

Solution• Many marketers have a library

of existing content that has only reached a small portion of their targets

• Audit your library of content assets, then reformat and repurpose for lead nurturing campaigns

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Multichannel messaging, thought leadership and segmentation rated as top engagement tactics

Research audience preferences for subject matter, format, style, etc.

Top Tactics in Creating Engaging Content

Allowing audience to select communication preferences

Sponsoring third-party content

Establishing buyer personas

Testing the timing and delivery of content

Testing and optimizing value proposition

Incorporating social media

Segmenting the delivery of content

Improving thought leadership

Using a multichannel messaging strategy

16%

20%

21%

26%

27%

36%

37%

45%

46%


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Sample Segmentation & Content Plan

Engagement

NurturingOutreach Nurturing

Ongoing Nurturing



Buyer persona 1 Best practice article series 1

Whitepaper download series 1

Newsletter 1Updates

Buyer’s guide 1Comparison 1

ROI Calculator 1

Getting started series 1



Newsletter 2Updates


ROI Calculator 2




Newsletter 3Updates


ROI Calculator 3




Newsletter 4Updates


ROI Calculator 4


Buying Cycle

Pers

onas

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1. Segmentation

2. Content

3. Channels

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Channels

Lead nurturing often begins with email, but channels can be expanded for greater results.• Consider the original lead source - was it email, web form, or

phone call?

• Test new channels for nurturing, like direct mail, teleprospecting, social

• Ask! Survey your audience on channel preferences

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1. Segmentation

2. Content

3. Channels

4. Timing

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Timing

Deliver relevant content to your audience WHEN they want and/or need to receive it.

• Timing and frequency of delivery

• Combine scheduled and triggered blasts • Make an educated guess for launch,

then monitor and test over time

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Frequency of Lead Nurturing Touches

More than once a month

Once a month

Once every three weeks

Once every other week

Once a week

A few times a week

Once per day

Multiple times a day

11%

12%

8%

17%

18%

20%

5%

9% Majority have a frequency of a few times a week, once a week and once every other week

Start with an educated guess, then test

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

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5. Optimization

1. Segmentation

2. Content

3. Channels

4. Timing

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Optimization

Your lead nurturing campaigns will be a moving target with continual optimization.

All aspects of your lead nurturing campaign should be tested and optimized:

• Segmentation• Content• Channels• Timing

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Optimization – Questions to Ask

•Are there additional segments that can be added?•Do our existing segments need further detail?

Segmentation•Is the subject matter resonating and engaging?•Is the content format preferred?•Is the language / style resonating?

Content

•How are existing channels performing?

•What new channels can we add and test?

Channels

•What time of day, week, month do our nurturing campaigns perform the best?

•What frequency generates the most engagement?

Timing

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Five Key Components for NurturingSummary

5. Optimization

1. Segmentation

2. Content

3. Channels

4. Timing

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Marketing Solution Winner

#1 Fastest Growing Private Silicon Valley Company

#28 Most Promising Company in America

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Best Chatter Solution

More Leads. More Revenue. Less Work.

• Deliver more high-quality leads to Sales• Align Sales and Marketing efforts• Accelerate predictable revenue

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Jen DoyleSenior Research Manager, [email protected]@JenLDoyle

Kaci Bower Senior Research Analyst, [email protected]@KaciBower

Thank you

Business

5 key components for establishing and optimizing lead nurturing campaigns