Optimizing the Lead

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<ul><li>1.OptimizingtheLeadO ti i i th L dAdataAdatadrivenoptimizationprocess p pthatgoesbeyondleadcaptureBrianCarrollExecutiveDirector,RevenueOptimization pMECLABS</li></ul><p>2. SessionSpeakerBrianCarrollExecutiveDirectorofRevenueOptimizationMECLABSBrianCarrollisExecutiveDirectorofAppliedResearchatMECLABSandCEOofInTouch,partoftheMECLABSGroup.AuthoroftheCEO of InTouch, part of the MECLABS Group. Author of thebestseller, LeadGenerationfortheComplexSale,Carrollisaleadingexpertinleadgenerationandhesprofiledandregularlyquotedinnumerouspublications. @brianjcarroll Carrollalsospeaksto20,000peopleayearonimprovingsaleseffectivenessandleadgenerationstrategies.Hehasbeenprofiledandregularlyquotedinnumerouspublicationssuchas BtoB magazine,SellingPower, TheWallStreetJournal,Entrepreneur,TargetMarketing,Selling Power, The Wall Street Journal, Entrepreneur, Target Marketing,Inc.,MarketingNews,DMNews,MarketingProfs, MarketingSherpa,SoftwareCEO and CMOMagazine.2 3. RecentExperiments:10,000+PathsTested 189%137%201%Conversion Conversion Conversion124%Conversion54%Conversion3 4. MECLABS:Asciencelabwithaconsultancy Morethan10yearsofresearch 1,300+majorexperiments Over1billionemails 10,000salespathstested Hundredsofpublicationsand conferencesf4 5. MarketingSherpa:ResearchandpublicationsMarketingSherpaprovidesMarketingSherpa providesB2Bandconsumermarketingprofessionalspracticalcasestudies,researchand t di h dtrainingonemail,demandgen,search,socialandmore.Theannualresearchcycleprovidesknowledgeforcontinuousmarketingcontinuous marketingimprovement. 6. MarketingExperiments:TestingandoptimizationMarketingExperimentspublishestestingandresearchdiscoveries,totesting and research discoveries tohelpmarketerslearnwhatreallyworksinsalesandmarketingoptimization. 7. Webuildcustommicroresearchlabswithincompaniesaroundtheworldcompanies around the world7 8. OptimizingtheLeadOptimizing the Lead 1 Identify therightcompaniesandpeople 2 S Segment,scoreandprioritize Segment,scoreandprioritized i ii 3 I i i amemorableconversation Initiate amemorableconversationbl i 4 N Nurture regardlessoftimetobuydl f i b 9. OptimizingtheLeadOptimizing the Lead 1 Identify therightcompaniesandpeople 2 S Segment,scoreandprioritize Segment,scoreandprioritized i ii 3 I i i amemorableconversation Initiate amemorableconversationbl i 4 N Nurture regardlessoftimetobuydl f i b 10. 1Whatisalead?Inquiriesarenotleads 5 t 15% f ll i5to15%ofallinquiriesaresalesreadyiild 11. 1Whatisalead?Inquiriesarenotleads 5 t 15% f ll i5to15%ofallinquiriesaresalesreadyiildSalesdoesn tneedto accept the leadsSales doesnt need to accepttheleads ConfirmwhethertheleadmettheUniversalLeadDefinition agreed to between sales and marketing agreedtobetweensalesandmarketing 12. 1Whatisalead?Inquiriesarenotleads 5 t 15% f ll i5to15%ofallinquiriesaresalesreadyiildSalesdoesn tneedto accept the leadsSales doesnt need to accepttheleads ConfirmwhethertheleadmettheUniversalLeadDefinition agreed to between sales and marketing agreedtobetweensalesandmarketingCreateyourveryownversionofaULDCreate your very own version of a ULD Applyittoeverylead,anditerateasyouclosethe loop 13. 1Whatisalead?Inquiriesarenotleads 5 t 15% f ll i5to15%ofallinquiriesaresalesreadyiildSalesdoesn tneedto accept the leadsSales doesnt need to accepttheleads CREATEYOURULD ConfirmwhethertheleadmettheUniversalLeadDefinition agreed to between sales and marketing agreedtobetweensalesandmarketingCreateyourveryownversionofaULDCreate your very own version of a ULD Applyittoeverylead,anditerateasyouclosethe loop 14. 1 IdentifytherightcompaniesandpeopleActionItem:ULDchecklist Whatmakesagoodsaleslead? Howcanweraisethebarandgiveyourbettermoreactionableleads? Whatinitiativeorneedmakesthisagoodfit? Whatinfoisnecessarytodetermineifaleadisworththefollowup? yp Whatarethetitles/jobfunctionsofeconomicbuyersandinfluencers? Whatdoesthiscompanyvalues?Whatisitsculturelike? Whatarethecommonbusinessissues?14 15. 1 Identifytherightcompaniesandpeople ActionItem:ULDchecklist Whatinformationisrequiredtoqualifyleadsasbeingsalesready? Whatinformationisrequiredtoqualifyleadsasbeingsalesready? Whatarethecharacteristicsoftheidealsalesopportunity?Whatarethecharacteristicsoftheidealsalesopportunity? Whatarethequestionssaleswantansweredbeforegettingalead?Whatarethequestionssaleswantansweredbeforegettingalead? Whatinfoismusthavevs.nicetohave?Whatinfoismusthavevs.nicetohave?What info is musthave vs nicetohave? Whichquestionstendtogatherthemostneededinformation?Whichquestionstendtogatherthemostneededinformation? Whatshouldwestartdoingtomakeleadsmoreactionable?Whatshouldwestartdoingtomakeleadsmoreactionable? Whatthingsshouldwestopdoingwithleadsthatdontvalue?Whatthingsshouldwestopdoingwithleadsthatdontvalue?15 16. 1 Identifytherightcompaniesandpeople ActionItem:ULDchecklist UsetheULDtodelineatesalesreadyvs.nurtureleadstatuses Willtherebeatimeframetoevaluateandimplementasolution? Willtherebeaformalorinformalbudgetinplace? Aretherespecificbehaviorsortraitsyouarelookingfor?p y g16 17. 1 Identifytherightcompaniesandpeople ActionItem:ULDchecklistIdentifykeyinfoasalesrepwouldvalueinspeakingwithaprospect Identifykeyinfoasalesrepwouldvalueinspeakingwithaprospect Whatfuelsinterestandhowmustwefocusonitwiththesolution?Whatfuelsinterestandhowmustwefocusonitwiththesolution? Whereisthebestentrypoint?Whereisthebestentrypoint? Whoisinvolvedinthebuyingprocessasitevolves?Whoisinvolvedinthebuyingprocessasitevolves? y gp Shouldanyoneelsebecontacted?Shouldanyoneelsebecontacted? Wheresthefundingcomingfromandwhohasauthorityoverit?Wheresthefundingcomingfromandwhohasauthorityoverit? Then,onlysendasmanysalesreadyleadsthatthesalespersoncaneffectivelyhandle Then,onlysendasmanysalesreadyleadsthatthesalespersoncaneffectivelyhandle17 18. 1 Identifytherightcompaniesandpeople ActionItem:ULDchecklistFOCUSONFOCUS ONIdentifykeyinfoasalesrepwouldvalueinspeakingwithaprospect Identifykeyinfoasalesrepwouldvalueinspeakingwithaprospect Whatfuelsinterestandhowmustwefocusonitwiththesolution?Whatfuelsinterestandhowmustwefocusonitwiththesolution?EFFICIENCY Whereisthebestentrypoint?Whereisthebestentrypoint? Whoisinvolvedinthebuyingprocessasitevolves?Whoisinvolvedinthebuyingprocessasitevolves? y gp Shouldanyoneelsebecontacted?Shouldanyoneelsebecontacted? Wheresthefundingcomingfromandwhohasauthorityoverit?Wheresthefundingcomingfromandwhohasauthorityoverit? Then,onlysendasmanysalesreadyleadsthatthesalespersoncaneffectivelyhandle Then,onlysendasmanysalesreadyleadsthatthesalespersoncaneffectivelyhandle18 19. 1Experiment:Background ExperimentID: (Protected) Location:MECLABSLeadsGroupLibrary TestProtocolNumber:TP1214 Test Protocol Number: TP1214ResearchNotes: Background:Anindustrialtestingequipmentmanufacturerengagedthe B k d A i d i l iifd h MECLABSLeadsGrouptofollowuponleadsgeneratedthroughtradeshows andaPPCcampaignofferingafreebook. Goal:Tounderstandwhentostopcallingateleprospecting list. Goal To nderstand hen to stop allin a teleprospe tin list Primaryresearchquestion:Atwhichpointdoesthevalueofsalesready leadsfromacallingcampaignnolongeroutweighthecosts? Approach:Recordandanalyzeteleprospecting campaigndatatodiscoverthe pointofdiminishingreturns19 19 20. 1 Experiment:CampaignpathReengagement eads Leads Leads ualifiedLe GeneratedTradeshows PPCcampaign PPC campaignQuPrimaryresearchquestion:Atwhichpointdoesthevalueofsalesreadyleadsfromacallingcampaignnolongeroutweighthecosts?20 21. 1Experiment:ResultsDays01 234 5678 9 1011121314Leads41257144 11128 106 5 1 2 2 3 10 Percent61.3% 8.5% 2.1% 0.6% 1.6% 1.8% 1.2% 1.5% 0.9% 0.7% 0.1% 0.3% 0.3% 0.4% 1.5%Cumulative 412 469 483 487 498 510 518 528 534 539 540 542 544 547 557 Cumulative% 61.3% 69.8% 71.9% 72.5% 74.1% 75.9% 77.1% 78.6% 79.5% 80.2% 80.4% 80.7% 81.0% 81.4% 82.9%Days151617181920212223242526272829LeadsL d 7 5 3 5 2 3 5 3 4 2 3 3 2 3 6 Percent1.0% 0.7% 0.4% 0.7% 0.3% 0.4% 0.7% 0.4% 0.6% 0.3% 0.4% 0.4% 0.3% 0.4% 0.9%Cumulative 564 569 572 577 579 582 587 590 594 596 599 602 604 607 613 Cumulative% 83.9% 84.7% 85.1% 85.9% 86.2% 86.6% 87.4% 87.8% 88.4% 88.7% 89.1% 89.6% 89.9% 90.3% 91.2%Days313436373839404244464748495153Leads 3 2 1 1 1 1 1 1 1 1 1 4 1 2 1 Percent0.4% 0.3% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.6% 0.1% 0.3% 0.1%Cumulative 616 618 619 620 621 622 623 624 625 626 627 631 632 634 635 Cumulative% 91.7% 92.0% 92.1% 92.3% 92.4% 92.6% 92.7% 92.9% 93.0% 93.2% 93.3% 93.9% 94.0% 94.3% 94.5% !Pointofdiminishingreturns:ConsiderthevalueofaleadagainstyourcampaigncosttodiscoverthepointatwhichROIisnolongerfavorable21 21 22. 1 Experiment:Results Analysisofthecallingandleadgenerationdatashowedthat90%of successfulleadswereconvertedwithin28daysoffirstcontact 60% ofconversionshappenedonthefirstday Another30%takeplaceoverthenextmonth Conversions dropped off significantly after 28 daysConversionsdroppedoffsignificantlyafter28days Lookingforadecisionpoint: 30 d30days i h iswhenconversionsstopincreasingeveryday i i id 15daysisthelastpointatwhichatleast1%ofconversionsoccur 9daysiswhereyoureach80% ofconversions 2daysiswhereyoureach70%ofconversions *Thelastconversioninthisdatasettookplaceon343rd day(672totalconversions)22 23. 1 Experiment:Results450 15days 15 days400 lastpointatwhich350atleast1%ofconversionsoccur 30days ds300 alesreadylead conversions250 stopincreasing200 everydaySa150100 500 * *1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44Campaigndays23 23 24. OptimizingtheLeadOptimizing the Lead 1 Identify therightcompaniesandpeople 2 S Segment,scoreandprioritize Segment,scoreandprioritized i ii 3 I i i amemorableconversation Initiate amemorableconversationbl i 4 N Nurture regardlessoftimetobuydl f i b 25. 2 SampleMarketingandSalesProcess Lead SegmentandQualifyand Sales AnalyzeCapture ScoreLeads NurtureEngagementResults SegmentleadsULDOverviewdeckAnalyzedata CaptureleadsbypotentialClosetheloop Normalizedata NormalizedataQualifyphone QualifyphoneOpportunityApplyleadscore:Applyleadscore:Apply lead score: readyleads d l dLeadsconvertedL d dEnrichdataEnrichdata Approachdeckleaddata Mergededupe MergedeleadbehaviorleadbehaviorDistributesales Distributesales ProposalandLOASalespipeline readyleads readyleads SalesclosedClose25 26. 2 Step1.LeadCapture Subscribers Externalfirmographicg p dataWebinquiriesWebinquiriesSocialmediaSocialSocial mediaInquiriesNormalizeEnrich MergeandEventregistrantsEventregistrantsdatadatadededupe andattendees d d Webinarregistrants/inquiries Unusable data Salesgenerated Salesgeneratedstore26 27. 2 Step2.SegmentandScoreLeads SegmentforTargeting/Messaging/CallstoTargeting/Messaging/CallstoAction nextaction nexta DataHygiene, DataHygiene,SegmentationEnhancementandConsolidation basedonpotentialExplicitUser suppliedDataExplicitUsersuppliedExplicit Usersupplied Data (quantitative)() (e.g.,RegistrationForms) Leadscoring TouchPoints(e.g.,whatcontenthavetheyengaged?)( h h h d?) PhoneQualificationandDiscovery Phone Qualification and DiscoveryHumanHinterpretation (qualitative) SalesQualificationandDiscovery SalesQualificationandDiscovery27 28. 2 Step3.QualifyLeadsExplicitInformationExplicitInformation InquirycomesintoDB Ideal Customer Contacts CompaniesAssigntorep$ Handoff tosales possibilitiesRepcall toqualifySalesreadyLeadsImplicitInformationI li i I f i Doesitmeet TouchpointstheULD?Usertrackedbehavior Whathavetheyengaged?28 29. 2 Step3.QualifyLeadsNO DoesnotmeetULDInterest CriticalULDFactor1 Critical ULD Factor 1Timeframe CriticalULDFactor2BudgetMarkas Markasnurturing disqualified Email Notafit Not a fitCallquarterlyCall quarterly29 30. 2 Step3.QualifyLeadsYES MeetsULD Prospectswillingtospeakwithsales?YES NO Setappointment Set appointment Markasnurturing M kt i HandofftoSalesEmail/Call30 31. 2 CyclebacktoimproveyourDB Webinar Registrants/Inquiries WebInquiries JohnSmithTouchpoints: 02/08/2012 AttendedWorkshopAdvancedEvent SocialMedia Social MediaMarketingPractices 10/18/2011 EmailOpenedTODAY:Howmarketersare Inquiries transformingchangeDatabase10/18/2011 DownloadedTradeshowchecklisttool 10/18/2011 AttendedWebinar B2BMkg BMR:Marketers EventRegistrantsTouchpoints 10/12/2011 EmailLinkClickedThreewaystoincreaseleadsandAttendeesandand Attendeesg generationattradeshowsandevents 10/12/2011 EmailOpenedThreewaystoincreaseleads generationattradeshowsandevents 09/20/2011 DownloadedQ3EventSummarywhitepaperDownloadableTool09/19/2011 AttendedWebinar Eventbudgetplanning 09/05/2011 Called SpokewithInboundInquiryteam 09/02/2011 Message:Yourquestionaboutservices 09/02/2011 Message: Your question about services 09/01/2011 WebLead Web ContactPageSalesGeneratedSalesGenerated31 32. 2 ProgressiveProfiling CapturealittlemoreinformationeachtimeyouprovidevalueFirsttimedownloadleadgenformSubsequentdownloadprogressiveprofiling32 33. 2 SampleMarketingandSalesProcess Segment Lead QualifyandSalesAnalyze andScoreCapture Nurture Engagement Results Leads SegmentleadsULDOverviewdeckAnalyzedata Capturel CaptureleadsbypotentialClosetheloop NormalizedataQualifyphone QualifyphoneOpportunityApplyleadscore:Applyleadscore:Apply lead score: readyl dreadyleads d leadsLeadsconvertedL d dEnrichdataEnrichdata Approachdeckleaddata Mergededupe MergedeleadbehaviorleadbehaviorDistributesales Distributesales ProposalandLOASalespipeline readyleads readyleads SalesclosedClose33 34. OptimizingtheLeadOptimizing the Lead 1 Identify therightcompaniesandpeople 2 S Segment,scoreandprioritize Segment,scoreandprioritized i ii 3 I i i amemorableconversation Initiate amemorableconversationbl i 4 N Nurture regardlessoftimetobuydl f i b 35. 3Relevance Timing Memorable35 36. 3Relevance TIMETiming TIMEYOURYOURTOUCHES Memorable36 37. 3LeadGenerationModel INQUIRYCUSTOMERIdentifyMake Need N dDecision 37 38. 3LeadGenerationModel INQUIRY LEAD CUSTOMERIdentify ResearchMake Need N dSolutionsS l tiDecision 38 39. 3LeadGenerationModel INQUIRY LEAD SALESREADY CUSTOMERLEADIdentify Research DevelopMake Need N dSolutionsS l tiShortListShort List Decision 39 40. 3LeadGenerationModel INQUIRY LEAD SALESREADY QUALIFIED CUSTOMERLEAD PROSPECTIdentify Research DevelopReviewMake Need N dSolutionsS l tiShortListShort List ProposalsDecision 40 41. 3LeadGenerationModelINQUIRY LEAD SALESREADYQUALIFIED CUSTOMER LEADPROSPECTIdentify ResearchDevelopReview Make Need N dSolutionsS l ti ShortList Short List Proposals Decision BrandingEvents LeadAdvertising TradeshowsNurture FollowupPR Webinars Optin Email SEOOutbound calls Conference ebs te WebsiteCallsDirectMailInbound 800#FacetoFace 41 42. 3LeadGenerationModelINQUIRY LEAD SALESREADYQUALIFIED CUSTOMER LEADPROSPECT IdentifyResearchDevelopReview MakeNeedN d SolutionsS l ti ShortList Short List Proposals Decision BrandingEvents LeadAdvertising TradeshowsNurture FollowupPR Webinars Optin Email SEOOutbound calls Conference ebs te WebsiteCallsDirectMailInbound 800#FacetoFaceBroadlyTargetedBroadly Targeted NarrowlyTargeted Narrowly TargetedLessInteractiveHighlyInteractiveLessMeasurable42 HighlyMeasurable 43. 3 MultimodalLeadGeneration43 44...</p>