Embed Size (px)
DESCRIPTION
Here is a sneak peak for the upcoming presentation to be delivered by Michael Harrison and Marcus Tewksbury at the Integrated Marketing and Sales Summit to be held in St. Louis on December 10th http://www.integratedmarketingsummit.com/ You can checkout some of their collective works at: http://www.themarketingmojo.com
Citation preview
Sneak Peak:How to Save Your Agent Sales Channel
By Michael Harrison
& Marcus Tewksbury
DMA Fall 2009
Visualize the Sales FunnelThe physical structure of the channel reveals a lot about how it functions
Awareness
Interest
Desire
Acquisition
Heat Map
Carriers / Suppliers
Distributor
Agent
Ex. StateFarm, NationWide, Fidelity, etc.
Ex. SBA, Co-ops, etc.
Ex. Kevin Molloy (top 10 Google for Chicago)
Inefficient OperationsAcross the channel efforts are duplicated, data is not widely shared, and the sales cycle is lengthened
Marketing FulfillmentMarketing Fulfillment
Local SearchLocal
SearchLimited
PrintLimited
BrandBrand TraditionalTraditional180 °180 °
Carriers / SuppliersCarriers / Suppliers
90 °90 °
DistributorDistributor
90 °90 °
AgentAgent
In order to close the loop, or in other words connect the prospect behavior and marketing programs, you need to be able to connect an initial prospect to the final sale. In the existing model this is very complicated because the interaction data is captured across three different organizations and three or more systems..
In order to close the loop, or in other words connect the prospect behavior and marketing programs, you need to be able to connect an initial prospect to the final sale. In the existing model this is very complicated because the interaction data is captured across three different organizations and three or more systems..
1
1
1
Data IslandsData Islands2 Inconsistent Branding
Inconsistent Branding
While corporate marketers and agencies can do a great job developing compelling story lines and branding it can be exceedingly difficult to push it down the line through the channels. Not only is there a people / communication issue as you cross organizational lines, but at times the motivations of distributors and agents may not be in line with marketering at the suppliers.
While corporate marketers and agencies can do a great job developing compelling story lines and branding it can be exceedingly difficult to push it down the line through the channels. Not only is there a people / communication issue as you cross organizational lines, but at times the motivations of distributors and agents may not be in line with marketering at the suppliers.
Lead HandoffsLead Handoffs
Necessarily, in this structure leads must be passed off between the organizations. This has many implications, but one is that it certainly extends the customer life cycle.
Necessarily, in this structure leads must be passed off between the organizations. This has many implications, but one is that it certainly extends the customer life cycle.
3
3
4
DuplicationDuplication
And finally, at times not only can the channel members duplicate their efforts, sometimes they can even be competing with one another like with search.
And finally, at times not only can the channel members duplicate their efforts, sometimes they can even be competing with one another like with search.
Pancake the InteractionsOne approach is to use technology to either go direct to prospect, or at least eliminate steps in the sales cycle
Shorten the cycle… …. with technology
Squeezing Partner MarginsSuppliers begin to offer more services and pass on the cost
Local SearchLocal
SearchLimited
PrintLimited
Carriers / SuppliersCarriers / Suppliers
90 °90 °
DistributorDistributor
Marketing FulfillmentMarketing Fulfillment
One approach some suppliers are taking is to beef up their co-op marketing offerings in part to eliminate the need of like services at the distributor level. Of course, in so doing they will also push the cost to the distributor in the form of lower margins.
Problems Qualifying The inability to close the loop inhibits the ability to truly qualify leads
Marketing FulfillmentMarketing Fulfillment
Local SearchLocal
SearchLimited
PrintLimited
BrandBrand TraditionalTraditional180 °180 °
Carriers / SuppliersCarriers / Suppliers
90 °90 °
DistributorDistributor
90 °90 °
AgentAgent
Data Islands + Multiple Handoffs = Big Problem
The inability to relate activity to financial results, and correspondingly the ability to score, results in poor leads being injected into and then passed through the channels.
In turn, the cycle of poor leads results in slower responsiveness which further lengthens the already long process and ultimately lead decay.
Search
Traditional
Display
Cost of Lead Generation GrowingTop of the funnel activities are all becoming more expensive
Awareness
Contribution Margin ProblemsThe economic reality underlies the structural problems
Customer LTV
20% 80%
$120 Avg LTV
Attracting – $50
Nurturing – $30
Acquiring – $20
High and growing
Driven by channel
inefficiencies
Paid to agents*
What is the acceptable contribution margin for your business? Can you break yours down? Do you know where your problem areas are?
Thank You!Marcus R. Tewksbury
Director of Customer Intelligence
Alterian
Email: [email protected]
Twitter: @tewksbum
Michael Harrison
Chief Strategy Offices
Razor
Email: [email protected]
Join us on
December 10th
in St. Louis
to learn how we fixed these problems for
organizations like yours....
