the science of marketing
DESCRIPTION
Marketers now have the ability to easily and precisely capture data, assign values to leads, and predict/drive revenue, all through the use of marketing automation.TRANSCRIPT
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The Science of Marketing
Malcolm Friedberg DemandGen
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LEADS
Brave New World
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Harvard Business Review Thomas Stewart, Editor
August, 2006
“The customers’ buying process has evolved in our world of ubiquitous, instant, global communication
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… but companies’ selling processes have for the most part stayed the same.” L
EADS
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Meet the NEW Marketing… and the NEW Tools.
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NEW Marketing is Automation & Efficiency
1. Easily capturing Data 2. Qualifying Leads and auto-routing to Sales Reps 3. Scoring Leads to distinguish Low Hanging Fruit
from Seedlings that need nurturing 4. Creating a nurturing path to convert prospects
on their timeline 5. Automating personalized communications with
timely and relevant information 6. Run your marketing operation from Maui with a
Blackberry and a Mai Tai
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The “Gray Man” Syndrome
Marketing’s Challenge:
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Marketing Qualified Leads (MQL)
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What’s an MQL for YOU?
• Meets the “requirements” of your target buyer
• Shows interest in purchasing your solution
• Has the authority to make a buying decision
• Wants your solution within a reasonable timeframe
• Has the budget to purchase
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What MQL will do for you?
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What are these New Marketing Tools?
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Lead Capturing
• Web Forms
• Site Notices
• Surveys
• Trade Shows
• Referrals
• Call ins
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Lead Scoring based on Digital Body Language
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Lead Nurturing based on creating a Conversion Path
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Step
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What Leads Should You Target?
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Define 3-5 Criteria that make a Qualified Lead
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Company X’s Profile…
• Level - Director and up • Role - Decision-maker or
Influencer • Size - 2,500+ employees • Type - In one of twelve
industries • Timeframe - Buying in the
next 30 days
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New Marketing Tool for Obtaining Qualification Data
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Step
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Scoring: Qualified & Interested
• Qualified – Score based on Qualification Data – Level, Role, Size, Type, Timeframe – How well does the prospect match your Criteria for a
Qualified Lead?
• Interested – Score based on Observing Behavior – Does your target act in such a way that suggests they
are ready to buy?
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In the physical world, sales can
observe a lead’s body language.
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In the virtual world, how do we observe a lead’s digital
body language?
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Scoring Digital Body Language
• Website visits and how recently
• # of visits
• # of pages viewed
• High value content viewed
• When was last visit?
• How many offers are they taking on the website?
• Which offers are they taking?
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Interest Scoring = Digital Body Language – BETTER SLIDE
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Scoring Result – Is it an MQL?
Qualified (Data): Company: ADP Name: Sheila Drenning Age: 27 Location: GA Title: Director, Biz Dev Company Size: 5,000+
Interested (Behavior):
Website Visits: 3 Pages Viewed: 14 High-Value Visitor: Yes Watched Demo: Yes Free Trial Signup: Yes Responding to Nurture: Yes On Website Now: Yes Qualification Ranking: A Interest Level: Hot
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Lead Scoring Implemented
(1) Lead Qualification and (2) Interest Level
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Lead Scoring ROI
Based on a Survey of 10 Customers doing Lead Scoring for 165 days (under 6 months)
Before Lead Scoring
After Lead Scoring
Leads sent to sales
Close ratio
Revenue per deal
TOTAL REVENUE
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“Knowing how prospects have responded to marketing campaigns before the call is the single biggest factor in uncovering revenue opportunities for our inside sale team” - Dir. of Marketing Operations, Google
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“Traditional” (Limited) Role of Marketing in the Sales Process
LEADS
DEALS
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Step
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The Life Cycle of Your Leads
Within 24 months from YOU or your
competitor
Source: Sirius Decisions
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Within 24 months from you OR YOUR
COMPETITOR
Source: Sirius Decisions
100
14
6 2 Deals
20 (3)
11 lost Deals
You’re leaving (3,4,5x) DEALS on the table.
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Why won’t a MQL buy?
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Timing? Lack of Information? Confidence? Bottom Line: Not ready to speak with Sales.
Nurturing will… • Allow you to Re-Score existing prospects
to sell on customer’s timetable
• Keep an open channel of communication
• Reveal the benefits of your solution in “Bite-Sized” pieces
• Obtain additional qualification and interest
information
• Keep your company/product top-of-mind
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Nurturing Your Leads
• Sales Nurture • Trade Show Nurture • Post Event Nurture • Webinar Nurture
Extended Nurture
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Generated 1500 additional responses More than 400 companies re-engaged
“Those same previously ignored leads turned out to be the best source of qualified opportunities.”
- VP Marketing, Voxify
Lead Nurturing Results
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How it all comes together…
Profiling
• Establishing and Collecting Qualification Data
Scoring
• Identifying MQLs for Sales based on QUALIFICATION and INTEREST level, and know if interest is growing or decaying
• Re-Score during the nurturing process
Nurturing
• Building a path to conversion on the customer’s timetable
• Recapturing “dead” leads that are actual buyers
• Educating the prospect about the benefits of your product
• Monitoring activity & passing to Sales at the right time
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Welcome to the NEW marketing.
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Please Provide Feedback & Questions
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• Leading Marketing Automation System • Tight integration with leading CRMs
• 400+ customers / 200 employees
• HQ in Toronto, offices North America, UK, Asia • Venture-backed
• Consulting Partners Like DemandGen
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The Root of the Problem… The Chasm between Sales & Marketing S: “I want more leads.” M: “What about last month’s?” S: “Most weren’t any good.” M: “How do you know?” S: “Because my guys only closed 10% of them.”