5 things you can do to improve b2b lead generation
TRANSCRIPT
@brianjcarroll
5 Things You Can Do to Improve your B2B Lead Generation
Brian Carroll
@brianjcarroll
@brianjcarroll
About meBrian Carroll
Brian Carroll is Former Chief Evangelist of MECLABS and founder of InTouch, part of the MECLABS. Author of the bestseller, Lead Generation for the Complex Sale, Carroll is a leading expert in lead generation and he's profiled and regularly quoted in numerous publications.
He has been profiled and quoted in numerous publications such as BtoBmagazine, Selling Power, The Wall Street Journal, Entrepreneur, Target Marketing, Inc., Marketing News, DM News, MarketingProfs,MarketingSherpa, Software CEO and CMO Magazine.
@brianjcarroll
@brianjcarroll
Biggest B2B Marketing Challenges
Source: 2015 Lead Generation Trend Report © 2015 Crowd Research Partners.
Marketers see generating high quality leads as their number one business challenge.
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The Problem
Photo credit: http://jephmaystruck.com
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The Problem
Photo credit: http://jephmaystruck.com
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Agenda
1. Get sales and marketing collaborating
2. Start doing lead re-engagement
3. Build a lead scoring approach that really works
4. Nurture customers more effectively
5. Use your empathy to reconnect
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1. Get sales and marketing collaborating on these questions
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Marketing and Sales Collaboration
IncreasedPerformance
Marketing Team
Sales Team
Lead acceleration meeting session with sales and marketing
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1. Lead Qualification is the bridge between the Marketing and Sales teams
2. Collaborate and get between Sales and Marketing concerning two defined standards:
Ideal Customer Profile – Do they have capacity to buy?
Universal Lead Definition – Do they enough motivation to be sales-ready lead?
Internal AlignmentKey takeaways
Get free ULD agenda and tips b2bleadblog.com/uld
!
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2. Build a lead scoring approach that really works
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LEAD MANAGEMENT FLOW WITH SCORING
Lead enters system
Lead is scored by intensity level
Lead IS optimal intensity ULD
Lead IS NOT optimal intensity
Lead delivered to Sales
Lead nurtured to optimal intensity
Responsive Lead Scoring
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Background: Provider of professional management services for technology assets for mid- and large-sized companies.
Goal: To increase the total number of leads generated.
Research question: Which lead qualification process will generate the greatest number of leads?
Approach: A sequential test of the qualification process.
Case Study on Responsive Lead Scoring
Background: Provider of professional management services for technology assets for mid- and large-sized companies.
Goal: To increase the total number of leads generated.
Source: http://www.marketingsherpa.com/article/case-study/revamped-marketing-automation-crm-technology
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Leads Enter System
Leads are Sent Directly to Sales
Sales “cherry-picks” best leads
Many leads are overlooked
Case Study on Responsive Lead ScoringOriginal lead qualification process was very linear
Source: http://www.marketingsherpa.com/article/case-study/revamped-marketing-automation-crm-technology
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LEVEL 3 LEADS
LEVEL 2 LEADS
LEVEL 1 LEADS0 – 19 Points
20 – 39 Points
40+ Points
Sales-Engaged
Leads• Organization set up a responsive
scoring system – leads assigned numeric value based on role/behavior
• Scoring system had 3 levels – once lead scored enough points to enter third level (40+ points), Sales would engage
Case Study on Responsive Lead ScoringTesting out a responsive scoring system
Source: http://www.marketingsherpa.com/article/case-study/revamped-marketing-automation-crm-technology
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Profile Score
CEO, Owner President, VP of Sales 10 pts
Target Market ID – IBM BP 10 pts
Email Campaigns Score
Open an Email 5 pts
Clickthrough an Email 7 pts
Web Metric Scoring Score
Visits Any Webpage 1 pts
Visits Offering Page 5 pts
Visits Thought Leadership Article 5 pts
Visits Thought Leadership Video 10 pts
Views a Previous Webinar 15 pts
Visits Testimonial Page 5 pts
Visits Demo 15 pts
Web Metric Scoring Score
Contact Us 25 pts
Webinar Registration 20 pts
Web Demo Request 25 pts
Promotional Dialogue 25 pts
Webinar Playback 25 pts
Case Study on Responsive Lead ScoringBuilding a lead score card
LEVEL 3 LEADS
LEVEL 2 LEADS
LEVEL 1 LEADS0 – 19 Points
20 – 39 Points
40+ Points
Sales-Engaged
Leads
Source: http://www.marketingsherpa.com/article/case-study/revamped-marketing-automation-crm-technology
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• Leads sent marketing content matched to their particular score
• Aim was to nurture leads up the funnel and provide more opportunities to increase lead score
Case Study on Responsive Lead ScoringBuilding custom nurture campaigns
Source: http://www.marketingsherpa.com/article/case-study/revamped-marketing-automation-crm-technology
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Increase in Lead Generation75%New process increased total number of leads engaged by Sales by 75% over previous year
“If you look back three years ago, we were doing all of this work and we weren't seeing any results, but we didn't really have the system set up to really be able to
measure our success. So, I think for us it's really been looking at and revising processes and procedures, and just being smarter about how we operate.”
Trish McLoughlin Marketing Manager
Case Study on Responsive Lead ScoringThe results
Source: http://www.marketingsherpa.com/article/case-study/revamped-marketing-automation-crm-technology
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Touch pointsUser-tracked behavior
What have they engaged?
Explicit Information
Meets Universal Lead Definition
Contacts Companies
IdealCustomer
Profile
Hand off possibilitiesto sales
Implicit InformationDoes it meet
the ULD?
Rep call to qualify
Assign to rep
Inquiry comes into DB
Optimized Lead ScoringQualify leads based on Universal Lead Definition (ULD), not lead score
Source: http://www.marketingsherpa.com/article/case-study/revamped-marketing-automation-crm-technology
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Responsive Lead Scoring
Most leads are not sales-ready leads.The key is to know when someone achieves optimal intensity (ULD).
Lead scoring is a responsive approach to assess the intensity of leads.
Scoring is not meant to replace human touch, but rather to prioritize it.
Key takeaways
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3. Start doing lead re-engagement to get more
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Background: A B2B company with a short sales cycle launched an email series to nurture older leads.
Objective: To reinvigorate leads that have passed the initial 30 day window in which most clients are most likely to convert.
Primary Research Question: Which tactics can be implemented to re-engage existing leads in the database?
Test Design: Intensive initial 30-day lead nurture campaign followed by regular newsletters, webinars and long term added-value email series.
Source: http://www.marketingsherpa.com/article/case-study/old-names-yield-37-customers
Case Study on Lead Re-engagement
@brianjcarrollSource: http://www.marketingsherpa.com/article/case-study/old-names-yield-37-customers
Topic BTopic A
Week 1 Email Series
Week 2 Email Series
Online Software Demo Sales-ready leads
Leads Engage with Content
Leads Engage with Content
Re-engagement
Case Study on Lead Re-engagementNew approach with ongoing re-engagement nurturing
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Email Series #1: NewsletterThis monthly email included short columns from the company CEO, as well as information on industry events, book reviews, marketing advice and other content related to the company.
Source: http://www.marketingsherpa.com/article/case-study/old-names-yield-37-customers
Case Study on Lead Re-engagementNew approach
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Email Series #2: Webinar InvitesMonthly emails to the leads that did not convert beyond the initial 2-week email series.
Source: http://www.marketingsherpa.com/article/case-study/old-names-yield-37-customers
Case Study on Lead Re-engagementNew approach
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Email Series #3: “Tips” Email Series
• The primary goal was to maintain contact and help potential customers.
• Bi-weekly series lasted for a year.
Sample Biweekly Email
Source: http://www.marketingsherpa.com/article/case-study/old-names-yield-37-customers
Case Study on Lead Re-engagementNew approach
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• One concern was that the new email series would overwhelm the leads and actually push them away.
• So this organization sent an email once every three months to give the lead the opportunity to unsubscribe.
Sample Unsubscribe Email
Source: http://www.marketingsherpa.com/article/case-study/old-names-yield-37-customers
Case Study on Lead Re-engagementNew approach - Avoid Overwhelming
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Customers are from leads generated over three months ago37%20% Customers are from leads generated over one year ago
"Lead nurturing is actually producing…business for us that we would not have if we were not…staying in contact with these people”
- Marketing Director
Source: http://www.marketingsherpa.com/article/case-study/old-names-yield-37-customers
Case Study on Lead Re-engagementResults
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Lead Re-engagement
• Re-engage those you’ve met three or more months ago.
• Keep the conversation going
• Provide content and tools help them have the conversations internally.
What can you do to reach out to your existing list in a helpful way?
Key takeaways
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4. Nurture customers more effectively
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Understand Audience
Organize Content
Track Results and
Engagement
Execute Tracks
Messaging Strategy
•Touch
•Track
•Follow-Up
1•Touch
•Track
•Follow-Up
2•Touch
•Track
•Follow-Up
3•Touch
•Track
•Follow-Up
4
Interest Intimacy Intent
Progression Across Buying Stages
What is Lead Nurturing?Relevant, consistent conversation with potential customers, regardless of readiness to buy
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In one lead nurturing effort, you might be dealing with multiple prospects before the lead becomes a sales-ready lead:
So how does the marketer ensure that the right message gets to the right prospect?
CEO Practitioner Manager IT Admin
The Right Prospect
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Sample Persona Diagnosis
Prospect-level Persona Diagnosis – The Business Manager (finding solution)
The Right ProspectBuild persona diagnoses for each prospect persona
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Background: TAB helps organizations store and manage print and digital documents.
Goal: To increase the overall response to email lead nurturing efforts
Research Question: Which lead nurturing program will generate the greatest number of email responses?
Test Design: Sequential test of lead nurturing program
Case Study on Lead Nurturing
Source: http://www.marketingsherpa.com/article/case-study/pilot-campaign-increases-conversion-326
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• Company loosely defined a sales lead as anyone who downloaded a whitepaper, attended a webinar, or completed one of a range of other actions
• Number of leads generated was overwhelming for a salesperson – average salesperson did not have enough time to call or email all leads, so many leads were getting wasted
• Only nurturing effort in place was a regular generic email newsletter
Challenges faced by the organization
Marketing decided to test a more targeted lead nurturing program to help qualify and
nurture leads before sending to Sales
Source: http://www.marketingsherpa.com/article/case-study/pilot-campaign-increases-conversion-326
Case Study on Lead Nurturing
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Prospect #1: If I am a decision-maker looking for paper management solutions (paper only), why should I purchase from you rather than any of you competitors?
Prospect #2: If I am a decision-maker looking for hybrid management solutions (paper and digital), why should I purchase from you rather than any of your competitors?
Approach to building targeted lead nurturing program
Focused efforts on the two main prospects:1
Source: http://www.marketingsherpa.com/article/case-study/pilot-campaign-increases-conversion-326
Case Study on Lead Nurturing
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Prospect sees problem w/record management
Prospect desires to learn more about solutions
Prospect considers different providers
Prospect encounters resistance to solution
Prospect makes a selection
2. EDUCATION1. RECOGNITION 3. EVALUATION 4. OBJECTION 5. DECISION
Interest Intimacy Intent
Mapped decision sequence average prospect experienced during purchase/nurturing cycle
2
Approach to building targeted lead nurturing program
Source: http://www.marketingsherpa.com/article/case-study/pilot-campaign-increases-conversion-326
Case Study on Lead Nurturing
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Interest Intimacy Intent
Interest Intimacy Intent
Nurturing Track #1:
Nurturing Track #2:
Email #1 Email #2 Email #3 Email #4Email #5
Email #1 Email #2 Email #3 Email #4Email #5
Score: 15 Score: 30 Score: 45 Score: 60 Score: 75
Score: 15 Score: 30 Score: 45 Score: 60 Score: 75
Organize and build the nurture tracks
Source: http://www.marketingsherpa.com/article/case-study/pilot-campaign-increases-conversion-326
Case Study on Lead Nurturing
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Overall increase in lead conversion rate of 32.6%.
650% Increase in Email Clickthrough
“Going forward, we are expanding the number of campaigns to reach other topics and we are going to use more complex decision-
tree logic to dictate the next message in the cycle.”
-VP, Global Marketing
The results
Source: http://www.marketingsherpa.com/article/case-study/pilot-campaign-increases-conversion-326
Case Study on Lead Nurturing
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5. Use Empathy as your intuition to reconnect
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Use your empathy
Photo credit: http://theleadingedgeblog.com/
Sharing another's feeling and thoughts
Empathy is the marketer’s intuition.
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Using your empathy
Instead of trying to sound interesting to others, be interested in them.
Photo credit: http://blog.referralinstitutenn.co.uk/
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Case Study on Empathy
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Background: ActiveNetwork is a large event management software provider
Goal: To increase total lead inquiries (phone calls + form sign-ups) from visitors who abandoned the free trial sign-up process
Research Question: Which email tone will result in a higher rate of lead inquiries?
Test Design: A/B single factor split
Source: http://www.marketingexperiments.com/blog/research-topics/email-marketing/email-copywriting-change-tone.html
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ControlTreatment
Case Study on EmpathyUsing A/B testing
Source: http://www.marketingexperiments.com/blog/research-topics/email-marketing/email-copywriting-change-tone.html
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Standard Sales Tone
Control
Empathetic/Service Tone
Treatment
Case Study on EmpathyUsing A/B testing
Source: http://www.marketingexperiments.com/blog/research-topics/email-marketing/email-copywriting-change-tone.html
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Treatment
Empathetic/Service Tone7.08% Conversion Rate
Control
Standard Sales Tone1.58% Conversion Rate
Case Study on EmpathyUsing A/B testing
Source: http://www.marketingexperiments.com/blog/research-topics/email-marketing/email-copywriting-change-tone.html
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ControlTreatment
Case Study on EmpathyUsing A/B testing
!By addressing the customer’s anxiety (with empathy) through the tone of the email copy, they saw a 349% increase in total lead inquiries
Source: http://www.marketingexperiments.com/blog/research-topics/email-marketing/email-copywriting-change-tone.html
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Summary
1. Get sales and marketing collaborating
2. Start doing lead re-engagement
3. Build a lead scoring approach that really works
4. Nurture customers more effectively
5. Use your empathy to reconnect