Data is the Key to Lead Nurturing - Webinar Presentation

How Smart Marketers are Using Data and Marketing Automation to Drive

New and Repeat Sales

www.RightOnInteractive.com


Welcome!Joel BookExactTarget, Inc.Phone: 317.275.5444Email: [email protected]

@JoelBook

Troy BurkRight On InteractivePhone: 317.225.5870Email: [email protected]

@TroyBurk

http://twitter.com/AnzaloneLiszt




Why Lifecycle Marketing is Vital for Business Growth

“Selling now takes more time and resources then ever before. The average sales cycle has become 22% longer as buyers are taking longer to consider their decisions.”

Source: Sirius Decisions


They expect information, offers and invitations that are: Personal Relevant Timely

Customers Expect to be Treated as Individuals


Why Companies Struggle

1. Have data, but it is not integrated2. Not maximizing use of technology3. Lack of a predictable, repeatable process for:

• Moving suspects to customers• Moving customers to brand advocates

4. Don’t have the right metrics to prove they are truly impacting revenue



Lifecycle Marketing Success Factors

1. Aggregate Customer Data

2. Align Marketing and Sales

3. Establish a Scoring Methodology

4. Develop a Lifecycle Marketing Strategy

5. Deliver Personal, Relevant, and Timely Content

Process.Technology.

Data.

Lifecycle Marketing Strategy

Building Blocks


• Aiding the Buying Process• Use What You Have• Bring It Together• Gain Insight


Data Aggregation

360°View

Customer Information

Sales (New/Used)

Warranty Data

Credit Status

Industry Segments

eCommerce

Surveys

Social Media

Lead Results

Analytics

All customer data in one central database.

• Enables “one view” of the customer

• Provides better segmentation with marketing programs

• Allows faster response to leads

• Provides better measurement of campaign ROI


Data You Already Have for Lifecycle Marketing

DemographicGeographic

Behavior Purchasing Opinion

• Country• State• City• Employees• Revenue• Industry• Role• Age• Gender• Income

• Email Marketing• Tradeshows• Webinars• Whitepapers• Website Visits• SEM• Sales• Social• Online Ads• Offline Ads

• Recency• Frequency• Monetary• Latency• Category• SKU• Profit Margin

• Preferences• Customer Satisfaction• Net Promoter Score• Product Suggestions• Ideas


Sample Data Captured from Solutions


Program: Data Hygiene and Update

Campaign: “Contact Role Data Capture” – Is initiated when a customer places its first order.

Tactics:

• Landing Page is created to capture name, title, phone, and email address of different roles within an organization.

• Email is sent to current clients that asks for updates/additional names

• Seven days later another email request will be sent asking for the same information

• Those that do not respond will be passed to the support team to call and obtain information.

Measurement: Number of new contacts/roles added. Apply value of email address for contacts in lifecycle stage.

ExactTarget Email Landing Page

Incorporate Data Capture into Processes

ROI


Score Leads Based on Ideal Customer Profile


Score Leads Based on Activity and Marketing Response


• Email• CRM• Lead Scoring• Customer Lifecycle Marketing


Using Technology to Automate the Process

The Customer Lifecycle

Website Visit

Product Evaluation

Product Purchase

Product Usage

Brand Loyalty

Repurchase/Renewal

CRM

Lead Scoring / Prediction

Email / Text / Voice

Web Analytics

Websites

Data Acquisition

Lead Management

Customer Communication

Campaign Measurement

Content Management

Process Technology

Lead Generation SEO

Measure What Matters!The Customer Lifecycle

Website Visit

Product Evaluation

Product Purchase

Product Usage

Brand Loyalty

Repurchase/Renewal

• Churn Rate• Duration

Don’t Confuse Motion with Commotion!

Critical Metrics You Need for Each life Cycle Stage• Churn Rate• Duration






Lifecycle Marketing Map


Basic Marketing Measurement (KPIs)

Website Visitors Email Marketing Response

Cost Per Lead by Source


Marketing Measurement w/ Lifecycle Marketing

Lifecycle Stage: Website Visitors

Contacts: 1,788

Churn Rate: 8%

Duration: 109 Days

• Know if you are acquiring the right prospects

• Understand cost per “qualified lead”

• See the stage duration over time (increase velocity)

• Know how many individuals you are moving forward

• Visualize where every prospect/customer resides in the

Customer Lifecycle

• Provide Sales with the ability to close business faster

• Apply strategy to decrease Duration and increase Churn Rate

Email Response by Stage

• Know if my email efforts are impacting the right audience

• Realize what content works best for each Lifecycle Stage

• Provides engagement scoring for each individual who respondes


Trade Shows

Sponsored Events

Print Advertising

Direct Mail

Social Networks

Broadcast Advertising

Public Relations

Webinars

Search Engine Marketing

Word of Mouth

Online Advertising

Corporate Blogs

Website

Websites have become the “Hub” of Marketing


95% of Website Visitors Do Not Convert

Specific interest in Subject B

15%

No interest

40%

Have price or other concerns

10%

Interested, but want to do more research

15%

Specific interest in Subject A

15%

Converters = 5%

Non-converters = 95%

Source: WebTrends

The Customer Lifecycle

Website Visit

Product Evaluation

Product Purchase

Product Usage

Brand Loyalty

Repurchase/Renewal

Once a person gives you permission . . .

• Email aids the buying process.• Drives repeat usage.• Keeps the customer connected to your company.

Business Getting Business Keeping

Email: The Backbone of Customer Engagement


When and How to Use Email

Marketing• Introduce new products relevant to needs and interests• Promote events (i.e. Trade Shows, Webcasts, Open Houses)• Drive leads

Sales• Nurture leads (Deliver content that informs and educates)• Cross-sell relevant products and services• Support the selling effort of dealers / resellers

Service• Deliver timely information that reinforces product value• Keep customer informed of useful events and services• Invite feedback regarding product value and benefit


Marketing

Goal

Email

Objective

Life Cycle

Stage

Attract Engage Convert Serve

• Convert visitor to

email subscriber

• Send Welcome

Email; Provide link

to Preference

Center

• Identify product

needs and

interests

• Provide Information

to aid purchase

decision

• Send invitations to

webinars and live

events

• Offer product

demonstration or

trial

• Promote related

products/services

• Provide

testimonials from

satisfied customers

• Reinforce the value

they will receive

from becoming a

customer

• Send purchase

transaction

confirmation

• Thank customer

for purchase

• Invite feedback

and reviews

• Send product

news and service

updates

• Send triggered

alerts

Reward

• Invite customer

to join discussion

group on website

• Provide links to

product-related

resources on

website

• Provide incentive

to renew or

repurchase

• Send purchase-

triggered cross-

sell offer

Website Visit

Product Evaluation

Product Purchase

ProductUsage

Repurchase/Renewal

BrandLoyalty

Renew

• Ask for referral to

friend or colleague

• Invite customer to

contribute to blog

• Reward customer for

loyalty.

The Customer Life Cycle

“Purpose-Driven” Email Strategy

In 2009, more than 50% of consumers made a purchase due to email.

Source: ExactTarget

“Email X-Factors, 2010”

In 2009, 82% of top marketers reported that email was their channel of choice for retention .

Source: Winterberry Group

Real-Time Triggered Email Communications Produce 10X Greater Conversion than Blast Email Communications

Real-Time TriggeredBehavior DrivenPersona DrivenProfile DrivenBlast Driven

1.1%Conversion Rate

2.8%Conversion Rate

3.9%Conversion Rate

>10%Conversion Rate


• Aligning Marketing & Sales• Aggregating Data• Technology Integration


The Customer Life Cycle

Website Visit

Product Evaluation

Product Purchase

Product Usage

Brand Loyalty

Repurchase/Renewal

Objectives:

• Attract Prospective Customers• Nurture Leads• Drives repeat usage

Business Getting Business Keeping

Lifecycle Marketing Process

Lead Management Workflow

Volvo CE leadsExternal leadsCustomer dataMarketing data

Data cleansing

Dynamic eMail

Auto-generated salesman

reports


Q2 Projected

Leads

MQLs

SQLs

Closed

40%

25%

25%

600

240

60

15

MQL vs SQL – Understanding the Difference

The average close rate for BtoB organizations is less than 25 percent -

Predictable & Repeatable


Data Acquisition / Database Updating

Automating Lifecycle Marketing

Data

Cap

ture

r / F

ulf

illm

en

t / L

ead

Sco

rin

g

Pro

gra

m P

erf

orm

an

ce

Me

as

ure

me

nt

Execution, Response Tracking and Reporting

Product /ServiceNeeds, Interests

CampaignResponse History

CommunicationHistory

Products Purchased

GeoDemographicCharacteristics

Customers

and Prospects

Database Management

Segmentation and Program Planning

ProspectiveCustomers

Ide

nti

fy

Customers with Specific Needs

Offer

InformationSe

lec

t

Timing

Channels

De

term

ine

Offline

Online

Offline

Email Communications Planning and Production

Pro

gra

m D

eve

lop

me

nt

Cu

sto

miz

ati

on

/ P

ers

on

ali

za

tio

n

Segment A

• Offer/ Message

• Channel

• Timing

Segment C

• Offer/ Message

• Channel

• Timing

Segment B

• Offer/ Message

• Channel

• Timing

Customer Lifecycle Stage


Lifecycle Marketing Produces Results

Enterprises with best-in-class closed-loop marketing achieved:• 36% average increase in year-over-year revenue• 21% average lift in year-over-year conversion rates• 26% average increase in year-over-year marketing ROI

10 Tips for Effective

Lifecycle Marketing

1. Define the stages and gate criteria for your customer

lifecycle.

2. Consolidate multiple “silos” into a professional

marketing database.

3. Develop a process for marketing to systematically

nurture leads and customers

4. Provide weights and values for profile and

engagement scores.

5. Align marketing programs, campaigns, and tactics

based on “where they are in the relationship.”

10 Tips for Effective Lifecycle Marketing

6. Develop email programs that deliver information,

offers and invitations that are relevant and timely.

7. Pre-Sale. Use email to provide information that aids

the customer’s decision-making process.

8. Post-Sale. Use email to enhance the product usage

experience. Invite customers to share their

knowledge and experience (Testimonials, Video).

9. Leverage social media (YouTube, Blog, Twitter). This

creates more awareness of your product and attracts

website visitors.

10. Go beyond soft metrics and measure ROI, stage

duration, and stage churn rate.

10 Tips for Effective Lifecycle Marketing


Thank You!Joel BookExactTarget, Inc.Phone: 317.275.5444Email: [email protected]

@JoelBook

Troy BurkRight On InteractivePhone: 317.225.5870Email: [email protected]

@TroyBurk

