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Sales Lead Generation—New Strategies and Tactics Andrew (Andy) Rudin, Managing Principal, Outside Technologies, Inc. Vienna, VA Montgomery County Innovation Center September 10, 2013 outsidetechnologies.com 703.371.1242 (mobile) [email protected]

New Strategies for Sales Lead Generation

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This presentation is originally created for early-stage companies, but the strategies will work for any company in B2B sales.

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Page 1: New Strategies for Sales Lead Generation

Sales Lead Generation—New Strategies and Tactics

Andrew (Andy) Rudin,Managing Principal, Outside Technologies, Inc.Vienna, VA

Montgomery County Innovation Center

September 10, 2013

outsidetechnologies.com

703.371.1242 (mobile)[email protected]

Page 2: New Strategies for Sales Lead Generation

Who is Andy Rudin, and why is he here?

Page 3: New Strategies for Sales Lead Generation

Actually, I’m here because I’ve made my fair share of business development mistakes, but I’ve made some good decisions, too.

Page 4: New Strategies for Sales Lead Generation

Key Problems to Solve

a)?b)?c)?

Page 5: New Strategies for Sales Lead Generation

Key Problems to Solve

Leads are to business development what oxygen is to living organisms.

Page 6: New Strategies for Sales Lead Generation

Debunking a few lead-gen myths

1. “We basically just need someone to open some doors for us.”

2. “Our product sells itself.”3. “It’s a numbers game.”4. “Cold calling is dead.”5. “Prospects have all the

information power, anyway.”6. “60% of the buying decision is

made before the salesperson calls.”

Page 7: New Strategies for Sales Lead Generation

How do prospective customers buy?

Page 8: New Strategies for Sales Lead Generation

Opportunity Funnel

Page 9: New Strategies for Sales Lead Generation

What is a lead, and how many are enough?

Calculation:

Quota = $3,000,000% of quota sales-generated: 40%

Quota requiring lead support ($3M x 1-.40): $1,800,000

Revenue per order: $60,000

Converting leads required ($1.8M/$60K): 30 leads

Conversion rate: 20%

Qualified leads required per rep (30/.20): 150 leads

Page 10: New Strategies for Sales Lead Generation

Monthly revenue target: $125,000

Marketing driven revenue: $70,000

Average sales price: $7,000

Marketing-driven deals: 10 ($70,000/$7,000)

Opportunity-to-sales ratio:5 (we close one out of five opportunities)

Number of opportunities needed: 50 (10 x 5)

Qualified lead-to-opportunity ratio:

2 (we turn one out of two leads into an opportunity)

Number of qualified leads needed: 100 (50 x 2)

Inquiry-to-qualified-lead ratio:

7 (we turn one of every seven inquires into qualified leads)

Number of inquiries/leads needed: 700

Page 11: New Strategies for Sales Lead Generation

700 * $X

10 * $7,000 average per deal

50

100

$70,000

Monthly Lead Generation Budget Calculation

Page 12: New Strategies for Sales Lead Generation

What is a lead-generation process?

Page 13: New Strategies for Sales Lead Generation

Eight Steps to Build Your Lead Generation Machine

1. Define your prospect universe2. Build buyer personas3. Discover the network of

influence4. Map the buying process5. Audit your content and resources6. Build a campaign framework7. Create a lead management process8. Measure and adjust

Page 14: New Strategies for Sales Lead Generation

Tools & Resources

Page 15: New Strategies for Sales Lead Generation

Lead-Generation ProcessBlogs Webinars + Podcasts

White PapersTradeshows + Speaking Advertising + SEO

Social Media engagement

Website / Landing page

Capture/Vetting

Conversation

Offers +Promo’s

e-mail +E-newsletters

PhoneNetworking

Page 16: New Strategies for Sales Lead Generation

Eight Steps for Successful Lead Qualification

1. Figure out greatest risks for successful outcomes.

2. Convert these risks into questions to ask.

3. Break down the questions into smaller ones.

4. Figure out your risk appetite.5. Plan your options.6. Determine where to get the information you

require.7. Understand your assumptions.8. Prioritize your opportunities.

Page 17: New Strategies for Sales Lead Generation

The Top Four Lead Qualification Questions1. Does my prospect have a strategic

challenge or operational issue that my company can solve?

2. Can I get access to the people who are can drive the activities required to implement the project?

3. Does my prospect have the financial resources to pay me what I am likely to charge for my product or service?

4. Are there sufficient pressures requiring change that will enable a sale within my planning horizon?

Page 18: New Strategies for Sales Lead Generation

What exactly is “Lead Nurturing?”

Page 19: New Strategies for Sales Lead Generation

Lead Generation 2.0

1. build a content library.2. distribute to your social media assets.3. connect with people, not titles.4. focus on them.5. promote others 10:1.6. listen for leads.7. nurture your database daily.8. wire this into your company.9. build relationships before buying

begins.

Page 20: New Strategies for Sales Lead Generation

Lead-gen Mistakes to Avoid

1. Casting your lead-gen net too wide2. Being too complicated or too opaque

for buyers3. Following up too quickly/slowly4. Not qualifying, or not knowing how to

qualify5. Not knowing the buying process6. Not planning for detours off the

“happy path”7. Not measuring lead-generation

effectiveness, or measuring incorrectly

8. Risk confusion: taking on too much, or too little

Page 21: New Strategies for Sales Lead Generation

Final tips

1. Aim for the right number of leads—not too few, but not too many, either.

2. A steady pace wins the race.3. Discover your prospect’s “happy

path” toward a purchase, and match it.

4. Plan for the likeliest best and worst scenarios.

Page 23: New Strategies for Sales Lead Generation

Time for questions . . .

Andrew (Andy) Rudin703.371.1242

[email protected]