Ways to Improve Your Lead Management Campaigns

1
Ways to Improve Your Lead Management Campaigns
Track Marketing Executives

• Loren McDonald, Silverpop
• Bryan Brown, Silverpop

2
Loren McDonald Vice President of Industry
Relations Bryan Brown Director of Product
Management Development
3
Silverpop

• Offers highly scalable tools supporting both BtoC
  marketing initiatives and BtoB lead management
  processes through the Vtrenz solution.
• SaaS approach allows marketers to create,
  automate and execute lifecycle multi-channel
  marketing campaigns that are timely, relevant and
  measurable.

• Overview
• Founded in 1999
• Headquartered in Atlanta
• Offices in Fargo, ND, Irvine, Calif. and London

4
Agenda

• Lead Management Overview/Challenges
• Data Capture Optimizing Lead Forms
• Establishing a Lead Scoring Process
• Lead Routing
• Lead Nurturing
• Measurement
• Q A

Throughout todays presentation we will be
referring to the Silverpop BtoB Benchmark study.
5
(No Transcript)
6
Sound Familiar..?

• CEO Asks How did the XYZ lead generation
  campaign go?

VP Marketing Responds Great! We generated more
than 200 leads at lower than our average cost per
lead. And two sales people told me they had some
really good prospects.
VP Sales Responds Ugh. What a total waste of
time. The leads are all a bunch of downloaders.
My team is wasting their time following up on
hundreds of leads that arent ready to buy.
7
Leads Your Marketing Teams Biggest Challenge

• 52 of marketing organizations say lead
  generation is their 1 marketing challenge

Source Sirius Decisions
8
SoMarketings Role Has to Change

• Need to be lead developers not just lead
  generators
• Generate
• Capture
• Qualify/Score
• Distribute
• Nurture
• Report
• Need to focus on Metrics and Accountability

9
Lead Forms Data Capture
10
Form Approaches
3. Returning Leads Pre-Populate Gather More
1. Basic Lead Form
2. Returning Leads Pre Populate
4. Returning leads Personalize Pre-Populate
Progressively Gather More
11
Form Completion Rates New Leads

• Note Includes time viewing page and completing
  form
• Of total and required fields pretty close
  between Top and Bottom tiers
• of required fields does not seem to make much
  difference
• Time to complete a little lower for top
  performers than low performers - 28 and 25
  quicker in Q1 and Q2

12
Form Completion Rates - Updates

• Top tier has fewer number of fields as initial
  lead capture forms
• Completion rates of roughly 80 for updates
  compared to 55 to 60 for new leads
• 30 to 50 fewer fields than new lead forms

13
Lead Scoring
14
What is a Lead?
Suspect, Prospect or Lead?

• Has Budget allotted
• Has Authority to purchase
• Has a Need that we solve
• Has defined purchase Timeframe

• White Paper Download
• Tradeshow Attendee
• Webinar Attendee
• Web Site Inquiry
• Etc.

Agreed upon Lead Qualification Definition
15
Lead Disposition

• 82.5 are ready to buy or will buy
• 70 are long-term opportunities Marketing
  Territory

• An estimated 70-90 of leads generated by
  marketing are never followed-up with by sales

Source MarketingSherpa
16
Score Leads Based on Sales Readiness

• Clearly defining sales ready results in less
  lead waste
• Ensure both sales and marketing agree on
  definition to align goals
• Requirement Lead Scoring based on
• Budget
• Authority
• Needs
• Timeframe
• Size
• Profile
• Email/Web Behavior

17
Lead Scoring- Explicit Data

• Defines the right lead based on your target
  market segment
• Scoring performed on a unified database to ensure
  consistency across all leads

18
Lead Scoring- Implicit Data

• Scores Activity
• Recency and frequency scores with automated
  discounts
• Apply points for important interactions
  indicative of interest

19
Categories of a Good Scoring Model
A B C D

• Lead Rank / Categories
• A Route to Direct Sales
• B Route to Inside Sales
• C Nurture
• D Discard

20
Lead Scoring Rules of Thumb

• Provide a balanced weighting between Explicit and
  Implicit
• Explicit scores help define the right type of
  lead
• Implicit scores help define the right timing of
  the lead
• Measure appropriate behaviors
• Set point caps to avoid over-inflation
• Track webpage visits that are strong indicators
  of interest for your products or services
• Set Discounts for Inactivity
• Decay recency and frequency based on your average
  buying cycle
• Lead Scoring Model will need to be Fine-tuned

21
Lead Scoring - Now What?

• Using Lead Score, map communications to
  prospects buying cycle with agreed-upon action
  plans

Interaction
Create Interest- Whitepaper
1
Consider Solutions- Webinars Demo
2
Edu-sell communications- Case Studies
3-X
Purchase and Validate- Free Trial, Discount Offers
X
22
Lead Routing
23
Routing Ensure Follow-up Within 48 Hours

• Over 7x improvement in sales if leads are
  responded to within 48 hours
• The likelihood of reaching a prospect on a
  follow-on call goes down by 90 within one week
  from the initial inquiry
• Automate lead routing decreases follow-up times

Slow reaction time, decreases response
effectiveness
80
60
Communication Effectiveness
40
20
2
3
4
5
6
7
1
Reaction Time In Days
24
Sales Notifications

• Email/ Hand held
• Salesforce.com Task
• Salesforce.com View
• Salesforce.com Lead Assignment

25
Activity insight enables sales to

• Better understand a persons specific interests
• Act on relevant and timely information
• Accelerate the lead-to-sales process

26
Lead Nurturing
27
Leaky Sales Funnel Increases Customer Acquisition
Costs
Mature Marketing Processes Close the B2B Lead
Management Gap
28
Utilize Rules-Based Marketing to Eliminate One
and Done Marketing

• Understand your sales cycle and map your
  communications to your sales cycle
• Leverage a rules-based marketing engine to set-up
  and deliver multi-track, multi-touch,
  multi-channel communications

Well-executed multi-channel marketing campaigns
generate a sales lift ranging from 7-34. Source
Internet Advertising Bureau
29
Evolution From Broadcast to Behavior
Automated time and behavior based marketing has a
significant lift to the conventional email
marketing metrics
Marketing Sophistication

• behavior based messaging (multi
  track/step)

Automation

• time based messaging (drip marketing)

Manual

• targeted mailing based on segmentation

• mass mailing to broad database

Increased Response
30
Email Open Rates Drip versus Single

• Quartile ranking based on click-through rates
• Bottom tier of Drip campaigns are roughly same
  as Top tier of Single campaigns
• Meaning the worst of drips outperform best of
  single
• Average rates for Drip campaigns is 1.5 to 2
  times higher than Single campaigns

31
Email Click-Through Rates Drip versus Single

• Top Tier and Overall Average CTRs roughly 3
  times higher for Drip versus Single
• Average CTOR of Drip roughly double that of
  Single campaigns

32
Won Deals With Telesales as Part of Drip Campaigns

• 40 of drip campaigns that resulted in won
  opportunities incorporated tele sales in the drip
  flow

33
ControlScans Typical Drip Campaign
Campaign Objectives Increase compliance rate for
Partners merchants and the marketing teams
productivity
Bring in campaign members based on defined
criteria
Achieved 14 compliance rate in 2 month pilot
average compliance rate is typically 1 - in one
year!
2 weeks
Email 1 Intro to program
Contact removed from campaign once compliance is
achieved
2 weeks
Direct Mail 1 Intro to program
2 weeks
Email 2 Reminder
1 week
2-3 touch points within first month
Direct Mail 2 Reminder
2 weeks
Email 3 Reminder
Outbound Call Campaign
2 weeks
34
Drip Campaign Contents
Email 1
Email 3
Email 2
Call to actions became increasingly more urgent.
All action is directed to the Partners microsite.
35
Drip Campaign Contents
Direct Mail Content
36
Drip Campaign Contents
Campaign Microsite
Call to action is to enroll in mandatory program.
37
ControlScans Opens/Clicks Rates Drip vs. Single
ControlScans Pilot Drip Campaign (August 2008)

• Open rates 10-12 higher using Drip campaign
• Click-though rates 11 higher using Drip campaign

38
Measurement
39
Measurable Metrics your boss will love
40
Financial Accountability for Marketing
41
Summary
42

• Use automation to
• Score
• Route
• Nurture
• Measure
• And focus on converting the
• 70 percent long-term leads,
• to near-term opportunities!

43
QUESTION ANSWER SESSION
Loren McDonald
Vice President of Industry Relations
Bryan Brown
Director of Product Management Development