market segmentation, cannibalization, and the timing of product
GETTING STARTED WITH LEAD SEGMENTATION · getting started with lead segmentation ashley minogue ......
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GETTING STARTED WITH LEAD SEGMENTATION ASHLEY MINOGUE DIRECTOR OF GROWTH Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved.
Transcript of GETTING STARTED WITH LEAD SEGMENTATION · getting started with lead segmentation ashley minogue ......
GETTING STARTED WITH LEAD SEGMENTATION
A S H L E Y M I N O G U E
D I R E C T O R O F G R O W T H
Proprietary and Confidential ©2018 OpenView Advisors, LLC. All Rights Reserved.
OPENVIEW
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THE H ISTORY OF TECH GTM
2 0 0 0FIELD SALES
PRE
INSIDE SALES
2 0 0 0 sEARLY
2 0 1 0 sINBOUND MARKETING
T O D AY
PRODUCT LED GROWTH
A T I M E L I N E
PRODUCT LED GROWTH
PRODUCT USAGE SERVES AS THE PRIMARY DRIVER OF USER
ACQUISITION, RETENTION & EXPANSION.
SO WHAT DOES THIS MEAN FOR ME?
THREE PRINCIPLES TO SUCCEED IN A PRODUCT LED WORLD
Align your resources
accordingly
Leverage product
engagement data to prioritize
Segment your leads
based on their potential
ALIGNMENT SEGMENTATION PQLS > MQLS
A PROSPECT THAT SIGNED UP AND DEMONSTRATED BUYING INTENT BASED ON PRODUCT INTEREST/USAGE AND FITS
YOUR TARGET CUSTOMER CRITERIA.
PQL
Source: SiriusDecisions
THE OLDWORLD
INQUIRYINBOUND OUTBOUND
MARKETING QUALIFICATIONMARKETING QUALIFICATION
SALES QUALIFICATION
AUTOMATION QUALIF IED LEADS (AQLS)
TELEPROSPECTING ACCEPTED LEADS (TALS)
T E L E P R O S P E C T I N G Q U A L I F I E D L E A D S ( T Q L S )
T E L E P R O S P E C T I N G G E N E R A T E D L E A D S ( T G L S )
CLOSE
WON BUSINESS
S A L E S G E N E R A T E D L E A D S ( S G L S )
S A L E S A C C E P T E D L E A D S ( S A L S )
S A L E S A C C E P T E D L E A D S ( S A L S )
Source: SiriusDecisions
THE OLDWORLD
INQUIRYINBOUND OUTBOUND
MARKETING QUALIFICATIONMARKETING QUALIFICATION
SALES QUALIFICATION
AUTOMATION QUALIF IED LEADS (AQLS)
TELEPROSPECTING ACCEPTED LEADS (TALS)
T E L E P R O S P E C T I N G Q U A L I F I E D L E A D S ( T Q L S )
T E L E P R O S P E C T I N G G E N E R A T E D L E A D S ( T G L S )
CLOSE
WON BUSINESS
S A L E S G E N E R A T E D L E A D S ( S G L S )
S A L E S A C C E P T E D L E A D S ( S A L S )
S A L E S A C C E P T E D L E A D S ( S A L S )
LEAD
SEGMENTATION
OCCURS HERE
Source: Aptrinsic
PRODUCT LED WORLD
PRODUCT LED WORLD
Source: Aptrinsic
LEAD
SEGMENTATION
OCCURS HERE
SEGMENTATION IN A DAY.
TOP PRIORITY(AKA PQLS )
DRUM UP INTEREST
NOT A GOOD F IT LOW TOUCH
E N G AG E M E N T
FIT
(Dem
og
rap
hic
s &
Firm
og
rap
hic
s)
(Product usage, Marketing engagement)
LOW HIGH
HIGH
! ⇣"
# $
TOP PRIORITY(AKA PQLS )
E N G AG E M E N T
FIT
(Dem
og
rap
hic
s &
Firm
og
rap
hic
s)
(Product usage, Marketing engagement)
LOW HIGH
HIGH
!
THE IDEAL CUSTOMER
Leverage high touch
campaigns to drive
conversion
HIGH FIT & HIGHLY ENGAGED
!
DRUM UP INTEREST
E N G AG E M E N T
FIT
(Dem
og
rap
hic
s &
Firm
og
rap
hic
s)
(Product usage, Marketing engagement)
LOW HIGH
HIGH
!
Try offsite re-targeting or
email campaigns to win
back interest & increase
engagement
HIGH FIT, BUT NOT ENGAGED OR SHOWING SIGNS OF INTENT
!DRUM UP INTEREST
NOT A GOOD F IT
E N G A G E M E N T
FIT
(Dem
og
rap
hic
s &
Firm
og
rap
hic
s)
(Product usage, Marketing engagement)
LOW HIGH
HIGH
!
Remove from funnel or
nurture with automated
campaigns
LOW FIT (DOESN’T FIT TARGET CRITERIA) & NOT SHOWING SIGNS OF INTENT
!NOT A GOOD FIT
LOW TOUCH
E N G A G E M E N T
FIT
(Dem
og
rap
hic
s &
Firm
og
rap
hic
s)
(Product usage, Marketing engagement)
LOW HIGH
HIGH
⇣!
Move them through the
funnel with limited resources
– automated campaigns &
self-service
LOWER FIT, BUT THEY ARE SHOWING SIGNS OF ENGAGEMENT
LOW TOUCH ⇣!
NEXT, DETERMINE A SHORT LIST OF PARAMETERS
CORRELATED WITH FIT & ENGAGEMENT
Industry
Company size
Role/Level
Location
…
Number of users in trial
Active users in trial
Breadth of free trial feature usage
Depth of free trial feature usage
# of website views
Last website visit
# of emails opened
…
F I T ENGAGEMEN T
Industry
Company size
Role/Level
Location
…
Number of users in trial
Active users in trial
Breadth of free trial feature usage
Depth of free trial feature usage
# of website views
Last website visit
# of emails opened
…
F I T E N G AG E M E N T
REMEMBER THE GOLDEN RULE. START S IMPLE & ITERATE OVER T IME.
Draft parameters based on your hypotheses of what impacts lead quality and then validate with opportunity
creation and win-rate analyses based on ~6 months of data. Don’t have clean data? Invest in a one-time
data enrichment.
ASSIGN POINT VALUES FOR HIGH/MED/LOW CRITERIA FOR EACH PARAMETER
F I T
E N G A G E M E N T
H I G H + 1 0 0
M E D I U M + 5 0
L O W+ 0
Industry
Company Size
…
…
Users in Trial
Active Users in Trial
Retail, Hospitality
500+
5+
2+
Education, Internet
50–500
1+
<2
All other
<50
None
None
PUTTING IT ALL TOGETHERROLLING OUT LEAD SCORING IN 5 SIMPLE STEPS.
STEP 1USING A 6 MONTH DATA SET , ASSIGN DETERMINED POINT VALUES PER INDIVIDUAL LEAD
STEP 2 SUM SCORES TO DETERMINE F IT AND ENGAGEMENT SCORE PER LEAD
ANALYZE DISTRIBUTION OF SCORES ACROSS DATA SET
STEP 3 USE MEDIAN SCORE AS INIT IAL THRESHOLD AS HIGH VS LOW FIT AND ENGAGEMENT
STEP 4ANALYZE HISTORICAL WIN-RATE & WEIGHTED NDR BY SEGMENT TO VALIDATE WHETHER SCORES INDICATE QUALITY & EXPANSION POTENTIAL
STEP 5I F SEGEMENTATION PASSES INIT IAL VALIDATION, ROLL OUT SEGEMENTS AND SEGMENT-SPECIF IC CAMPAIGNS
SAMPLE OUTPUT OF LEAD SEGMENTATION ANALYSIS
17%
37%34%
12%
Top Priority !
Drum up Interest "Not a Good Fit #
Low Touch ⇣$
ENGAGEMENT
FIT
0 50 100 150 200 250 300 350 400 450 500 550 600 650
400 147 17 239 53 19 19 6 13 2
300 22 3 55 8 6 2 1
250 14 1 2,136 92 2,131 204 164 125 87 39 5 24 1 2
200 13 3 26 8 3 7 1
150 16 314 44 2,332 161 49 131 3 9
100 209 14 425 53 38 25 11 12 5
50 54 10 114 9 11 11 2
0 23 1 1,481 102 3,623 229 609 143 85 58 15 4
!"
⇣$#Median
L e a d D i s t r i b u t i o n b y F i t & E n g a g e m e n t S c o r e
B a s e d o n 6 m o n t h h i s t o r i c a l d a t a
L e a d S e g m e n t % o f T o t a l
B a s e d o n 6 m o n t h h i s t o r i c a l d a t a
1. SET UP A PLAN TO TRACK RESULTS2. ITERATE ACCORDINGLY
DON’T FORGET:
