CRM 101: Session 2: The Symbiotic Relationship Between CRM and Marketing Automation Systems

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    19-Oct-2014
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In this session, CRM Search Editor in Chief Chuck Schaeffer will identify and share methods CRM practitioners are using to extend their CRM systems to acquire new leads (grow top of funnel), more quickly advance leads through the sales cycle (improve velocity) and close more business (i.e. sales win rates). The results will be empirically backed with results of a new study conducted by CRM Search, and Chuck will explain how top performers achieved their successes so others can replicate them.

Transcript of CRM 101: Session 2: The Symbiotic Relationship Between CRM and Marketing Automation Systems

Slide 1

CRM Systems, Marketing Automation Systems & Best Practices in Lead ManagementCRM 101Chuck SchaefferVantive Media CEO, @cschaeffer, www.CRMsearch.com 4/20/122012 SugarCRM Inc. All rights reserved.2The Best Practices of the Best MarketersA research study designed to answer the questions:

What are the best performance B2B marketers doing to acquire, grow and retain more customers?

How are the highest performing B2B marketers using CRM systems in combination with Lead Management or Marketing Automation Systems?4/20/122012 SugarCRM Inc. All rights reserved.3Tweet: #SCON12MethodologySegment participants by performance level, as determined by:

volume of marketing sourced leads acquired versus plan,quality of leads acquired versus plan volume of marketing sourced new customer acquisitions versus plan volume of marketing sourced revenues versus planlevel of change in marketing sourced revenues from the prior year, and Return on Marketing Investment (ROMI)

4/20/122012 SugarCRM Inc. All rights reserved.4Tweet: #SCON12Composition of RespondentsRole: 67% in a marketing role, 28% in a sales role, 5% in a senior executive role and 3% in other role. Company equity type: 36% of the companies are publicly traded and 64% are private.Market: All in the Business to Business market.Industry: Participants identified themselves in a wide variety of industries. The single largest industry concentration was the Technology industry. Company size: 35% of respondents identified as being Small Business (up to $100M), 44% were Middle Market ($100M to $500M) and 21% were Enterprise companies(over $500M). 4/20/122012 SugarCRM Inc. All rights reserved.5Tweet: #SCON12Marketing Budget4/20/122012 SugarCRM Inc. All rights reserved.6What is your marketing budget as a percentage of total company revenues and gross margin?Tweet: #SCON12Marketing Budget4/20/122012 SugarCRM Inc. All rights reserved.7What is your marketing budget as a percentage of total company revenues and gross margin?High Margin Products: 8 to 21% of revenuesLow Margin Products: 1 to 5% of revenuesTweet: #SCON12Lead Management Accountability4/20/122012 SugarCRM Inc. All rights reserved.8Which department(s) is/are held accountable for lead management performance?Which staff are financially compensated (i.e. via commissions, salary or incentives) for lead management performance?Tweet: #SCON12Lead Management Accountability4/20/122012 SugarCRM Inc. All rights reserved.9Which department(s) is/are held accountable for lead management performance?Which staff are financially compensated (i.e. via commissions, salary or incentives) for lead management performance?Leaders show 2X increase over Medians and ~4X increase over LaggardsLeaders 2X increase over Medians & 167% increase over LaggardsCautionary Note:Avg 12% hold both S&M accountable, but Sales compensated avg of 6%Tweet: #SCON12Lead Sourcing and Marketings Contribution4/20/122012 SugarCRM Inc. All rights reserved.10What percentage of leads in the sales pipeline originate from marketing? Tweet: #SCON12Lead Sourcing and Marketings Contribution4/20/122012 SugarCRM Inc. All rights reserved.11What percentage of leads in the sales pipeline originate from marketing? Leaders generate 45% more leads than Medians & 133% more than LaggardsTweet: #SCON12Lead Scoring4/20/122012 SugarCRM Inc. All rights reserved.12Do you qualify leads before forwarding them to the sales team? Do you qualify leads using a scoring model which attributes points to criterion and calculates a sum score? Tweet: #SCON12Lead Scoring4/20/122012 SugarCRM Inc. All rights reserved.13Relative steady pattern50% increase from Medians, 112% increase from LaggardsTweet: #SCON12Lead Scoring Continued4/20/122012 SugarCRM Inc. All rights reserved.14Tweet: #SCON12Lead Scoring Continued4/20/122012 SugarCRM Inc. All rights reserved.15Near 2X increase from Medians, & 3X increase from LaggardsLeaders using behavioral data 123% more than Medians and 383% more than LaggardsLeaders using more scoring criterion; avg of 11% more than Medians and 22% more than LaggardsTweet: #SCON12Nurture Marketing4/20/122012 SugarCRM Inc. All rights reserved.16Volume of Leads Received which are sales-ready, not yet sales-ready and will never be sales ready (i.e. disqualified)?

Do your nurture campaigns distribute content based on lead persona and buy cycle stage?

Tweet: #SCON12Nurture Marketing4/20/122012 SugarCRM Inc. All rights reserved.17Volume of Leads Received which are sales-ready, not yet sales-ready and will never be sales ready (i.e. disqualified)?

Do your nurture campaigns distribute content based on lead persona and buy cycle stage?

Leaders show 41% increase over Medians & 124% increase over Laggards.Leaders used nurture campaigns 27% more than Medians & 138% more than LaggardsLeaders showed both highest disqualification & lowest Sales Ready ratesTweet: #SCON124/20/122012 SugarCRM Inc. All rights reserved.18Nurture Marketing ContinuedOn average, how many nurture touches are required to advance a non-qualified lead to sales-ready?On average, how many weeks does it take to nurture a non-qualified lead to sales-ready?On average, what percentage of new, non-qualified leads will eventually be nurtured to sales-ready?Tweet: #SCON124/20/122012 SugarCRM Inc. All rights reserved.19Nurture Marketing ContinuedOn average, how many nurture touches are required to advance a non-qualified lead to sales-ready?On average, how many weeks does it take to nurture a non-qualified lead to sales-ready?On average, what percentage of new, non-qualified leads will eventually be nurtured to sales-ready?Leaders show 41% increase over Medians & 124% increase over Laggards.Leaders show 20% lower nurture cycle than Medians & 52% lower than LaggardsLeaders show 48% higher yield than Medians 158% higher yield than LaggardsTweet: #SCON124/20/122012 SugarCRM Inc. All rights reserved.20Lead TransferHow do marketers verify that leads transferred to sales are followed through timely and properly?When are leads sourced by marketing forwarded to sales staff?Tweet: #SCON124/20/122012 SugarCRM Inc. All rights reserved.21Lead TransferHow do marketers verify that leads transferred to sales are followed through timely and properly?When are leads sourced by marketing forwarded to sales staff?40% increase over Medians & 60% increase over LaggardsLeaders show 26% utilization vs 13% for Medians & 4% for LaggardsLeaders use Lead Scoring model 57% more than Medians & >2X more than LaggardsTweet: #SCON12Lead Transfer Continued 4/20/122012 SugarCRM Inc. All rights reserved.22Are leads acquired outside of marketing consistently forwarded to marketing for marketing programs?Do you have specific criteria which dictate when a lead transferred from marketing to sales should be returned to marketing?Tweet: #SCON12Lead Transfer Continued 4/20/122012 SugarCRM Inc. All rights reserved.23Are leads acquired outside of marketing consistently forwarded to marketing for marketing programs?Do you have specific criteria which dictate when a lead transferred from marketing to sales should be returned to marketing?2/3 of all leads not consistently managedBulk of stalled leads not returned for recyclingContributors to Lead Leakage?Tweet: #SCON12Lead Leakage4/20/122012 SugarCRM Inc. All rights reserved.24Do you incur lead leakage?Tweet: #SCON12Lead Leakage4/20/122012 SugarCRM Inc. All rights reserved.25Do you incur lead leakage?Tightest response range in entire surveyOnly 100% response in surveyTweet: #SCON12Lead Leakage Continued 4/20/122012 SugarCRM Inc. All rights reserved.26Do you report the number of leads lost?Do you calculate the value of leads lost?Tweet: #SCON12Lead Leakage Continued 4/20/122012 SugarCRM Inc. All rights reserved.27Do you report the number of leads lost?Do you calculate the value of leads lost?Average of 98% report leakage; Only average of 10% & 6% measure volume & valueTweet: #SCON12Analytics 4/20/122012 SugarCRM Inc. All rights reserved.28In the eyes of the executive team, does the head of marketing hold the same clout as the head of sales?Does marketing tie every lead, customer and revenue dollar back to the marketing program that created them? Tweet: #SCON12Analytics 4/20/122012 SugarCRM Inc. All rights reserved.29In the eyes of the executive team, does the head of marketing hold the same clout as the head of sales?Does marketing tie every lead, customer and revenue dollar back to the marketing program that created them? Approximately 2/3 say No!Laggards 3X more likely to suffer credibility gapLeaders tie to source 44% more than Medians and 158% more than LaggardsApproximately 2/3 do notTweet: #SCON12Analytics Continued 4/20/122012 SugarCRM Inc. All rights reserved.30Does marketing calculate and report ROMI (Return on Marketing Investment)? Does marketing forecast future marketing performance as measured in revenue contribution to the company? Tweet: #SCON12Analytics Continued 4/20/122012 SugarCRM Inc. All rights reserved.31Does marketing calculate and report ROMI (Return on Marketing Investment)? Does marketing forecast future marketing performance as measured in revenue contribution to the company? Only 49% Leaders!29% over Medians, 104% over LaggardsAverage of 11%. Leaders 73% more than Medians & 217% more than LaggardsTweet: #SCON12Technology4/20/122012 SugarCRM Inc. All rights reserved.32Tweet: #SCON12Technology4/20/122012 SugarCRM Inc. All rights reserved.33Leaders 55% more than Medians; 181% more than LaggardsTop 3 FactorsTweet: #SCON12Technology Continued 4/20/122012 SugarCRM Inc. All rights reserved.34What are your top 3 frustrations with your LMS?Tweet: #SCON12Technology Continued 4/20/122012 SugarCRM Inc. All rights reserved.35What are the top 3 benefits you've realized with your LMS?3 biggest purchase factors in line with realizationLargest positive deviation, by 80%60% incr