The secret to lead nurturing
Transcript of The secret to lead nurturing
The Secret to Lead Nurturing:The Intersection of the Human and Digital Touch
Televerde is a business to business lead generation agency that helps
high-tech sales and marketing execs identify new customers, accelerate
and convert sales opportunities, and discover fresh, actionable market
insight. We improve sales pipeline performance, generate net new
sales revenue growth, and help align sales & marketing.
Marketo is the revenue performance management company, transforming
how marketing and sales teams of all sizes work — and work together — to
accelerate predictable revenue. Marketo’s solutions are both powerful and
easy to use, providing explosive revenue growth throughout the revenue
cycle from the earliest stages of demand generation and lead management to
deal close and continued customer loyalty.
The Case for Nurture
Generates 50% more sales-ready leads at 33% lower
cost per lead.
Reduces the percent of marketing-generated leads
that are ignored.
Increases win rates on marketing-generated leads
by 7%.
Reduces “no decisions by 6%.
Favorable impact to top-line revenue by 24%.
Source TBD
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The Value of Lead Nurturing
Fast Leads ( MQL <1 mo)
Slow Leads (MQL >1 mo)
Total Leads (MQL)
Cost / Lead (MQL)
Without Nurturing 20% 6.67% 26.67% $206.00
WithNurturing 20% 20.0% 40.0% $137.50
Source: Actual Marketo data; assumes $55 per prospect 3x!
Marketo ROI Results
Results: 50% more marketing qualified leads from lead nurturing
© 2011 Marketo, Inc.
What is Nurturing?
Art & Science: Relationship-Building Powered by Relevance
• Digital + human touch drive relevance
• Combine demographics, firmographics
and behavior to focus the dialogue
• They are indicators for the nature of the
conversation
• Nurture builds and strengthens the
relationship to keep the conversation goingCalling is a continuous process – not a one-time event!
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All N
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LeadNurturing
Lead Nurturing Defined
“The art of maintaining permission to stay in front of your buyers as they educate themselves”
Building relationships with qualified prospects regardless of their timing to buy, with the goal of earning their business when they are ready.
Lead
OpportunityS
ale
sLead
MQLSQL
SAL
© 2011 Marketo, Inc.
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Lead Nurturing Relevance
A
B
C
D
1 2 3Stages
1. BUYING STAGES• Early (Pre-MQL)• Mid (MQL)• Late (Opportunity)• Customer
2. BUYING PROFILES• Industry: 82%• Role: 67%• Company Size: 49%• Geography: 29%
© 2011 Marketo, Inc.
Stage Matters!Buyer Stage Methodology enables relevancy and acceleration.
Validate, Correct, Accelerate!
Digital intelligence assists and human touch completes
Interactive dialogue vs. scripted inquisition reveals nuance
Use the nuance to Validate, Correct, Accelerate (VCA)
Validate: Is it what it appears to be?
Correct: Is it where it needs to be?
Accelerate: Relevant nurture creates velocity!
Tele Reveals Ready or Not?
Marketo:
7% sales-ready
93% back into nurture
Televerde:
9% sales-ready
91% back into nurture
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A Framework for Lead Scoring
Explicit InformationWhat the prospect tells you
Inferred InformationWhat you observe or infer
FitAre you interested in them?
• Demographics• Firmographics• BANT
• Data quality• Corporate vs. personal
email• Inferred from IP
(geography, ISP domain)
InterestAre they interested in you?
• BANT• Latent behaviors
(engagement)• Active behaviors (sales
readiness)
© 2011 Marketo, Inc. All Rights Reserved
Scoring is the Great Equalizer
Low Threshold Calling: Err on the side of caution to
validate and correct early
Find the Picture in the Mosaic: Blend digital
and tele-revealed behavior with demographics and
firmographics
Human touch is a score-altering event
Scoring dictates when to call and what to talk about…
Scoring is the Great Equalizer
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When To Call?
© 2011 Marketo, Inc.
21+ Super-Target Lead Lead Lead
9-20 Target Lead Lead
2-8 Other Lead
<2
Engagement <20 20-44 45-89 90+
Buying Intent <6 6-14 13-23 24+
Fit
Inte
rest
Page 13© 2011 Marketo, Inc.
When to Call?
• Early stage content +3• Attend webinar: +5• Visit any webpage / blog : +1• Visit careers pages: -10
Latent Behaviors (Engagement)
• Pricing pages: • +10 regular, +15 detailed
• Watch demos: • +5 overview, +10 detailed
• Mid-stage content +8• Late-stage content +12• Searches for “Marketo” +8
Active Behaviors(Buying Intent)
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The Importance of Timely Response
© 2011 Marketo, Inc.
Timing is Everything!
Lead Response Management Study/ insidesales.com…
A lead can be qualified 21 times faster if followed-up on within 5 minutes vs. those pursued in 30 minutes.
Even from 5 minutes to just 10 minutes there’s a 4x increase.
Consider the impact of these conversion rates further down the pipeline on your closed-won business ratio.
Create a process that moves opportunities to the calling team efficiently.
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Dedicated Resources
Best place for dramatic improvements in business performance are handoffs between functionsBenefits of dedicated resources: Faster, more consistent, & better quality follow-up Better economics Better data and more metrics
Source: Insidesales.com
Dedicated Resources
• People can make or break a sales
opportunity
• Get it right and deals progress, get it
wrong and deals regress or fall away
• Dedicated, trained, skilled resources
are a nurture requirement
Dedicated: Enables immediate follow-up (you snooze you lose)
Trained: New best practices still surfacing (stay on top of them)
Skilled: Tele-nurture is a unique skill set (not traditional “tele”)
Insource or Outsource?
Considerations: Competencies, Process, Investment, Control
Insource:
• How important is control vs. outcomes?• Caution: Don’t rob “Peter to pay Paul” – re-hiring and re-training reduces productivity• Mind the budget – TCO of competencies is expensive• Be prepared to build and sustain training, process and management
Outsource:
• Control is still possible with checks and balances• Outsource to complement not replace• Benefits = fast ramp, scale, established skills, economics • Training and process is repeatable, sustainable, predictable • Tele-nurture is a specialty (use examples of medical specialists)
Outcomes should outweigh control!
Agency Considerations
Selecting, Hiring, Managing
• What competencies do you need them to complement?
• Does the agency have these competencies?
• Inquire about other clients and peer referrals
• Inquire about best practices and see work samples
(scoring models, emails, reports, metrics, etc.)
• Discuss process integration
• Compare costs and value (ROI is more than $$$)
Contact Bryan or Jon…
Bryan EhrenfreundVP Digital Strategies Televerde
Direct: +1 480.303.7078
Twitter: @ehrenfreund
www.televerde.com
blog.televerde.com
Jon MillerVP Marketing Marketo
Direct: +1.650.376.2310
Twitter: @jonmiller2
www.marketo.com
blog.marketo.com