Effective lead generation through lead lifecycle management

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eDynamic, Monday, April 10, 2023

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Effective Lead Generation through Lead Lifecycle ManagementHow to plug the leaks and build a stronger pipeline

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Who We Are

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eDynamic is global digital marketing and technology firm driving revenue for modern B2B marketers with customer life cycle solutions built upon contemporary digital marketing platforms

Who We Are

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At a Glance

1.Global Team United States, Canada, UK/Ireland,Australia,

India and Dubai

2.Proven expertise in Legal, High technology, Manufacturing and Financial Services

3.Purpose driven user experience and design Delivering engaging experiences that support

customer objectives

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Our Services

Service PortfolioDigital

Strategy and

RoadmapStrategy

Digital Platform Selection

Content Planning

and Roadmap

Campaign Planning

and Roadmap

Analytics and

Measurement

Digital Creative

ExperienceDesign

User Experienc

e Research

Web Experience Design

Social Media

Experience

Design

Mobile Experienc

eDesign

Content Managem

ent SystemsTechnology

Implementation

SharePoint

Marketing and Email Automatio

n

Community and Social Media

Customer Relationsh

ip Managem

ent

Analytics and

Optimization

Mobile Web and Native

Applications

Business Intelligenc

e

Consulting Services

EngagementOfferings

Global Delivery Model

Agency Services

Managed Services

Staff Augmenta

tion

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eDynamic’s Marketing Services Combination of strategy, creative, and technology to offer best-in-class, one-stop demand generation consulting for our clients Demand Generation ServicesLead Management Inbound Marketing Customer Engagement

Campaign planning & execution

Marketing Automation CRM

Content DevelopmentCreative Design SEO and PPC Sales Force Effectiveness Tools

Social marketing Web Strategy User Experience and Design

Vendor Selection Web Design and Execution

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Client LifecycleeDynamic aligns the demand generation capabilities with the client buying cycle, optimizing how you engage with prospective clients at each step

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Why we are here

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Agenda

• Understanding lead management

• Creating a successful lead management strategy

• Q&A

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Is your sales process a leaking faucet?

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You’re not alone

“Only 11% of sales leads are ever pursued by sales people and over 80% of sales leads generated are never closed.”

– Oracle | Eloqua

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You’re not alone…

“Over 80% of B2B organizations struggle with a lack of synergy between the sales and marketing functions. This misalignment leads to lost revenue opportunities and leaks in the pipeline.”

– Aberdeen Group

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You’re not alone…

“16% of the total leads that are deemed ‘sales-ready opportunities’ actually close. The difference between a successful company and a mediocre company lies in how the remaining 84% of already qualified opportunities are handled.”

– Aberdeen Group

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Things are changing…

“By 2020 customers will manage 85% of their relationships without talking to a human.”

- Gartner Research

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The Connected Customer

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Buyers:

• Are in control of their own buying process

• Have access to all the information they require to make a buying decision

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To build a stronger pipelineyou must engage customers at all stages of their buying process

Source: Forrester

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LEAD MANAGEMENT is necessary in today’s environment

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The Common Gap in lead management

Forrester Research

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Marketers must:

• Understand the buyer’s digital body language to determine their interest level

• Leverage and optimize technology to deliver the right message to the right person at the right time

• Score leads to determine who is ready for sales, and nurture those who are not

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Lead Management vs Lead generation

What’s the difference?

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20000

400

100

50

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Looking at the NumbersLead Management by the numbers: Without Pre-qualification

Sales Stage Volumes Required Conversion Rate

Prospects

Qualified Leads

Sales Accepted Leads

Sales Opps

Closed Won

2%

25%

50%

35%

$1.7 Million in revenue

Assumption: $100K Value of Closed Business

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20000

1000

250

125

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Looking at the NumbersLead Management by the numbers: Focus on pre-qualifying at the top

Sales Stage Volumes Required Conversion Rate

Prospects

Qualified Leads


Sales Opps

Closed Won

5%

25%

50%

35%

$4 Million in revenue


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20000

1000

650

325

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Looking at the NumbersLead Management by the numbers: Common definitions of Qualification Criteria between Marketing and Sales Sales Stage Volumes Required Conversion Rate

Prospects

Qualified Leads


Sales Opps

Closed Won

5%

65%

50%

35%

$11 Million in revenue


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6 Steps to Creating a Successful Lead Management Strategy

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Shared goalsCommon lead definitionLead qualification and hand-offProgram visibilityCommon revenue-focused metrics

STEP 1. Align Marketing Activities with Sales Results

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Align Marketing with sales

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While sales and marketing people have different ways of going about their business functions they need each other to be successful.

Rob Harnett, Sales Performance Blog

STEP 1. Common goals, common strategy

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STEP 1. Lead qualification and hand-off

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STEP 1. Lead definition

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Revenue Net new dealsProfit

Customer expansionMarket ShareMargin

Marketing Effectiveness and EfficiencyLeads sourced or influenced by marketingMQLs and SALsOpportunities

STEP 1. Common metrics

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1. Registrations, Conversions or Inquiries

2. Lead Quality by Lead Score3. Spend (Cost per Conversion,

Cost per Qualified Lead)4. Engagement

CTRs Attention ( Time on site, Interact

with Content) PR and Social Comments,

Tweets, Likes, Shares

5. Etc.

Secondary Marketing Program Metrics

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1. Awareness and Interest

2. Educate 3. Evaluate 4. Justify5. Purchase6. Advocacy and

Repurchase

STEP 2. Understand your customer’s buying cycle

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Understand your customer’s buying cycle

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STEP 2. Understand the Buying ProcessBy identifying who our customers are and how they buy will help us segment and map out the way we engage with them

$$ProspectQualified

Lead

Sales Accepted

Lead (SAL)Suspect

Sales Qualified

Opportunity (SQO)

Evaluate PurchaseLearn JustifyInterestCustomer’s Buying Process

Sales &MarketingProcess

Marketing validates quality of interest

Marketing nurtures to sales ready

Sales validates

and accepts

ownership

Sales validates

BANT criteria

Sales closes

revenue opportunity

COLD WARM HOT

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1.A Lead Forward, Revenue back analysis will not only provide insights into a lead management process but will also tell you who your ideal customer is

2.Criteria: Technical Buyer, Economic Buyer, User

Buyer, Coach Job Role/Function Industry Motivations Pain Points

STEP 2. Understand your customer’s buying cycle

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STEP 2. How are they buying?

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STEP 2. What channels are they using?

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We need to engage people where they spend their time—where they get their information.

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STEP 2. Create Segments – by profile, by channel

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Identify segmentation parametersthat model your customers and how they buy.

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Step 2. Understand actions, pain points, motivations

Evaluate PurchaseLearn JustifyInterest

Active Search Begins

Solutions Identified

Solutions Evaluated

Against Needs

ValidateDecision Made

Actions

Web Search

Review or get admin to look at product on

website and collateral.Ask Personal/Social

Network.

Compare against current Card

Peer/Association endorsements

Procurement Process

Questions

WIFM?Do I really need this

card?Does it fit my business

needs?

Which of my suppliers are accepting the card?

Can this replace my current Business or

Consumer Card?

What is the cost (fees)?How much can I spend?

Who else like me is using this product?

What type of rewards is he/she collecting?

How long before I can utlizie the product? TCO? ROI?

Motivations

Rewards, Service, Perks, Cachet, Fees

Amex Perks – Rewards, Business Savings, Travel Insurance, Security, Service

(Added Value)

Relevance of Perks, Rewards etc…

Confirmation of Perks e.g.. Rewards - taxes

and fees coveredRisk-free Trial

Pain

Points

No TimeBudget vs. Spend

Expense Tracking and ManagementCash Flow

Barriers

Merchant AcceptanceTied to an existing

card Migrating from Existing

card

Merchant AcceptanceMigrating from Existing

card, Linking Bank accounts

T&CsPersonal Liability

Credit History

Supplier CoverageIs it worth switching?

Approval Process

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STEP 2. Align Content to the buying cycle

Attract Qualify Nurture


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Manual; 36%

Automated Sequence; 64%

STEP 3. Automate the process

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Automate the process

Campaigns influencing revenue

Oracle Eloqua Benchmark Study

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STEP 3. Build a model


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STEP 3. Create a data profile


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Prospect/Customer ProfileContact InformationCompany InformationIdeal Customer attributes – revenue size, industry

Prospect/Customer EngagementWebsite VisitsEmail Opens, Clicks, ForwardsBlog CommentsSocial activity

Lead Type CategorizationSource/Channel/Industry/Job Role

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STEP 3. Build a model


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STEP 3. Create an automated process


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STEP 4. Scoring and Routing

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Scoring and routing

Work with sales to determine the “buying zone”Low level of

engagement(Low level of how much the lead

wants to talk to us)

High level of engagement(High level of differentiation driving

purchase intent)

High level of Profile

Match(High level of how much we want to talk to

the lead)

The Buying Zone

The only leads we should be feeding to the sales

field

Low level of Profile

Match(Low level of how much we want to talk to

lead)

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STEP 4. Scoring and Routing

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Scoring and routing

The Scoring Process

Explicit and Implicit Scores Calculated

ScoreRESET

ACTION?Rating Assigned

Feed into Scoring

Send to CRM

Lead Qualification

Lead Nurturing

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1.Build trust and a strong relationship with your prospect Lead Nurturing provides the opportunity to

establish a relationship that can lead to engagement and conversions

Educate your leads – Who are you? What does your organization do? How does this benefit me?

Establish credibility as experts Be relevant to the issues of your different

segments Differentiate yourselves as an organization

they want to communicate with, buy from, donate to…

Be top-of-mind

STEP 5. Nurture leads throughout the buying cycle

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Nurture leads

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Evaluate PurchaseLearn JustifyInterest

(1) New Welcome Program• 1st touch – Welcome • 2nd touch – tell us about your

preferences• 3rd touch – relevant case

study and let us know if we can help you.

(3) Referral Auto-responders

Objection CampaignsThree-touch drip email campaigns by topic:• Don’t get it• Costs too much• Happy with point tools

(2) Customer Follow-Up• 1st touch – Can I answer any

questions for you? From rep.

Buyer’s Kit• Dynamic hypersite by role and

by product interest• ROI Determination• Case Studies• Evaluation Tools

Competitive Loss Reengagement• After 6 months of close• Benchmark study• Relevant case studies

Inactive Reengagement• Last Qtr. timeframe• Budget Planning Message

Evaluator Education Campaign

SEM

Content Syndication

Inside Sales Prospecting

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Nurture leads

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1.Building relationships with top or middle of the buying cycle leads

2.Moving top of the funnel leads to middle of the buying cycle

3.Re-engaging unqualified bottom of the buying cycle leads


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Nurture leads

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Provide sales with insight into engaged lead activity1.Moving top of the funnel

leads to middle of the buying cycle

2.Re-engaging unqualified bottom of the buying cycle leads

STEP 6. Empower Sales

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Empower sales

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Provide sales with insight into engaged lead activity


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Empower sales

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1.Create short-term and long-term programs and collateral for use by sales via their CRM

Eg. Personalized Follow-ups Eg. Programs for “Stuck”opportunities Eg. Lost Opportunities


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Empower sales

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Questions?

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Shawn De [email protected]: @shawndesouza

Web: demandgeneration.edynamic.netwww.edynamic.net

For examples of our work on lead management, please contact us

mailto:[email protected]

http://demandgeneration.edynamic.net/

http://www.edynamic.net/

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Thank You