Lead nurturing success factors

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Lead Nurturing Success Factors

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  • 1. Lead Nurturing Success Factors

2. We are a little needy, and its a turn-off SiriusPerspective: The number of touches received per week has increased 32% since2006; the market is tuning out outbound messages.2 3. Customers are in control Gartner Research: By 2020 customers will manage 85% oftheir relationship without talking to a human. The one thing that has redefined marketing strategy todaymore than anything else has been the shift of control to thecustomer. The proliferation of social media tools and onlinetools help leads decide on their own schedule and usingtheir own combination resources.3 4. Engagement drives acquisition 60% of marketers believe that technology can help them develop more high-quality leads.(Forrester Research) Sales reps dedicate 14% of their time to lead development, but only 6.3% of leads areutilized (Sirius Decisions)4Within 24 months from targetcompany or competitorSource: Sirius Decisions 5. Importance of Engagement Moving people from consideration to commitment is the most important path of the salesprocess also the most necessary517.50%12.50%70%Average B2B Initial Lead Break-downDiscard / disqualifiedSales-ready nowLonger-term opportunity /worth nurturingMarketing Sherpa B2B Benchmarking Report 6. Plugging the leakSource: Forresters October 2006, Best Practices: Improving B2B Lead Management 7. Campaigns influencing closed revenueManual36%AutomatedSequence64%Eloqua Enterprise Customers 12 Month Analysis 8. TIPS FOR LEAD NURTURINGLead Nurturing Success Factors8 9. Its about building trust Lead Nurturing provides the opportunity to establish a relationship that can lead toengagement and conversions Educate your leads Who are you? What does your organization do? How does thisbenefit me? Establish credibility as experts Be relevant to the issues of your different segments Differentiate yourselves as an organization they want to communicate with, buyfrom, donate to9 10. Seven Rules of Engagement* Do not initiate contact without a clear objective. Start with the customer, not the product. Pick up where the last interaction left off. Dont ask a customer for the same thing more than once. Make the interaction personal and personalized. Deliver information that reflects what youve learned about them. Learn about customers in bits.not all at once.*Adapted from: Peppers, D., Rogers, M. (1999). One to OneFieldbook, p. 98-9910 11. Understand the customer journey11 12. Its about the Customers JourneyEvaluate PurchaseLearn JustifyInterestActive Search Begins Solutions IdentifiedSolutions EvaluatedAgainst NeedsValidateDecision MadeActionsWeb SearchReview or get admin tolook at product on websiteand collateral.Ask Personal/SocialNetwork.Compare against otherproductsPeer/AssociationendorsementsApplication ProcessQuestionsWIFM?Do I really need this?Does it fit my businessneeds?Which of my suppliers areaccepting the card?Can this replace mycurrent Business orConsumer Card?What is the cost (fees)?How much can I spend onthis card?Who else like me is usingthis product? What type ofrewards is he/shecollecting?How long before I get the card?Activation Process?MotivationsService, Perks, Cachet,FeesAmex Perks Rewards,Business Savings, TravelInsurance, Security,Service (Added Value)Relevance of Perks, RewardsetcConfirmation of Perks e.g..Travel Rewards - taxesand fees coveredRisk-free TrialPainPointsNo TimeGrow businessNo financingCash FlowBarriersMerchant AcceptanceTied to an existing cardMigrating from ExistingcardMerchant AcceptanceMigrating from Existingcard, Linking BankaccountsT&CsPersonal LiabilityCredit HistorySupplier CoverageIs it worth switchingcards?Amex approval Process 13. Its about the Customers JourneyEvaluate PurchaseLearn JustifyInterest(1) New Welcome Program 1st touch Welcome 2nd touch tell us about yourpreferences 3rd touch relevant case study andlet us know if we can help you.(3) Referral Auto-respondersObjection CampaignsThree-touch drip email campaignsby topic: Dont get it Costs too much Happy with point tools(2) Customer Follow-Up1st touch Can I answer anyquestions for you? From rep.Buyers Kit Dynamic hypersite by role and byproduct interest ROI Determination Case Studies Evaluation ToolsCompetitive LossReengagement After 6 months of close Benchmark study Relevant case studiesInactive Reengagement Last Qtr. timeframe Budget Planning MessageEvaluator Education CampaignSEMContent SyndicationInside Sales Prospecting 14. Build a model with tracks14LeadCreationThank YouFollow-upPre-QualScoreTele-Sales(Qual)Sales(Qual)Nurture I Nurture II Nurture III Nurture IVLOSSNDYESYESNO NO NOCONTACTMECONTACTMECONTACTMECONTACTME$CONTACTMENAMCONTACTMEROWCONTACTMEWhitepapersBanners to siteGeneral websiteOutbound ProgramsOnline Events etcIntro ICONTACTMEOther sourcesNAM onlySFDC Marketo 15. Examples of Tracks15 16. Use Lead Scoring Use a scoring system to gauge engagement and create thresholds to move prospects fromone track to another16Low level of engagement(Low level of how much the lead wantsto talk to us)High level of engagement(High level of differentiation drivingpurchase intent)High level ofProfile Match(High level of howmuch we want totalk to the lead)The Buying ZoneThe only leads we should befeeding to the sales fieldLow level ofProfile Match(Low level of howmuch we want totalk to lead) 17. Have a Content Strategy17Objective Attract Engage Qualify -ExplicitlyQualify -ImplicitlyAudience Broad/Unfamiliar Narrow/Unfamiliar Narrow/Familiar Narrow/FamiliarMeasurement Impressions ClicksVisitsDownloadsClicksForm SubmitsClicksVisitsDownloads 18. Be interesting Look beyond email and embrace Multi-channel with rich interactive experiences18 19. Effective Lead Nurturing #10Establish Success metrics Lead ScoreEngagement, Conversions 20. CASE STUDYLead Nurturing Success Factors20 21. Case Study: Nurture Program for VFM LeonardoVFM Leonardo is a B2B media company focused on the travel industryChallenge: Converting an influx of Unqualified Inquiries from Search, Advertising, SyndicatedContent Portals to highly engaged leads Move Implicit Lead rating from B > A Soften ground for Inside SalesSolution: Build an automated program that combines multiple tracks of email with an interactivemicro site Add Progressive Profiling Track activity Score leads at every stage21 22. The Program 23. Simple Survey-style Micro Site 24. Multiple paths based on scoreLow scorers go to a bootcampHigh scorers 25. ResultsBig change in campaign performance and engagement score 35% email effectiveness rate 50% conversion rate Good shift from B2s to A2s and some to A1s25 26. Results: Revamp of Lead Score12738446 219 1118830449299880002000400060008000100001200014000B2 A2 B1 A1BeforeAfter1s = 1,150%