Using Predictive Analytics Every Stage Of The Buyer's Journey
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Transcript of Using Predictive Analytics Every Stage Of The Buyer's Journey
#LLCSeries #LLCSeries
Using Predic,ve Analy,cs at Every Stage of the Buyer’s
Journey SPONSORED BY
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Follow this webinar on LinkedIn & Twi>er
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Demand Gen Report: @DG_Report LaDce Engines: @LaDce_Engines
Brian Kardon: @bkardon
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About Demand Gen Report • Launched in 2007 to track best pracMces in
lead generaMon
• Newsle>er has grown to more than 30,000 readers
• We also offer a menu of research and best pracMces reports
• New audio/video podcasts at DemandGenReport.com
@DG_Report h>p://linkd.in/DG_Specialists
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On24 LogisMcs
• Whitepaper • Datasheet • Contact Us Link
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Panelists
Brian Kardon CMO ���LaDce Engines
MODERATOR: Andrew Gaffney Publisher, Demand Gen Report
@bkardon bkardon@laDce-‐engines.com
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What to do?
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· Purchases
· Items you have added to cart, but abandoned
· “Dwell” times
· Product ratings
· Address
· What your neighbors buy
· Birthday
· Sizes: yours + family + friends
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We see predictive analytics every day …
Field Question
Healthcare Which patients are at risk?
Fraud detection Which transactions are fraudulent?
Insurance What is the risk of a car accident?
Online retailing What movie should be recommended?
Cable television What offer will prevent the customer from leaving?
Predicting who will buy, what they’ll buy and when.
Predictive Marketing and Sales
Find companies most likely to buy
Find your most sales-ready leads
ACCOUNT PRIORITIZATION
LEAD PRIORITIZATION
2
3
4 Find customers most likely to buy more
CROSS-SELL/ UP-SELL
5 Find customers most likely to churn
PROSPECT DISCOVERY 1
Find net new prospects
RETENTION
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How It Works
Growth Profile Employee, location, facility, and contract growth
Social Presence
Operating Diversity Divisions, disparity of locations & personnel
Cloud Maturity CRM, MA, and provisioned infrastructure
Company Profile Size, credit rating, news
Technology Profile Installed technologies and maturity Executive Change Presence of new personnel
Advertising & External Investment Spend, trend, timing, events
1,000s of Other Attributes
Web Page Visits
Video Views and Engagement
Title of Contact
Form Conversations
Downloads
Webinars Attended
Campaign Response Rates
Email Opens
Internal Data Sources
Conversion Rate
How It Works 78% likelihood to convert (7.8x)
39% likelihood to convert (3.9x)
Work by Sales
Qualified but Not Ready
Historic Conversion is 10%
Universe
Attributes of LEADS in this segment:
§ Growth Events Company has experienced >15% employee growth in recent six (6) months
§ New Location Company has opened or will open a new facility in next three (3) months
Find quality net new leads
How are marketers using predictive analytics?
Optimize List Buys
Monetize Your Existing Leads
Smarter Event Planning
Identify High Value
Campaigns
Predictive Remarketing
Create Target Account Lists
Territory Planning
Prioritize Sales Efforts
Sell More to Customers
Find At-Risk Customers
Win Back Ex-Customers
Fit: Company size, tech use, exec changes, geo, etc.
Intent: Whitepaper downloads, search terms, ad clicks, etc.
Activity: Emails opened, sales interactions, webinars attended, etc.
Easy to use marketing and sales predictive
apps
How Predictive Marketing Works
Account score Buying signals
Curse of Abundance
• PROBLEM: 90K+ leads/quarter
• SOLUTION: Increased sales focus and engagement on leads with highest
likelihood to convert; decreased focus on other lead segments
• BENEFIT: best leads engaged with 3X intensity, 37% liR in win rate, greater
overall funnel yield
37% Increase in Win Rate
Funnel Expansion
▶ PROBLEM: More inside sales capacity than qualified lead volume
▶ SOLUTION: Increased lead flow to SDRs with new “PQL” lead
segment
▶ BENEFIT: SDRs are focused on the next best lead segments rather
than cold calling
30% Increase in Lead Volume
80%
20%
Marketers Focus Primarily on New Customers, but Most Sales Come From Existing Customers
29
30
Selling more to Staples customers: Cross-sell
Direct Mail Done Right
▶ PROBLEM: needed a more cost effective way to execute a higher cost
DM program
▶ SOLUTION: dimensional mailer to highest scoring leads, followed with
handwritten note
▶ BENEFIT: response rate more than double compared to previous similar
campaigns
50% Reduction in Cost Per Opportunity
Smarter Event Planning
Peter Isaacson, CMO
Plan events near clusters of high scoring accounts
30% Opportunity creation
from events
40% Cost per lead from events
Lattice Engines significantly increase our pipeline by helping us focus on high value accounts.
Relationship
3+ Years
2+ Years
6+ Years
Scope
U.S.
Global
Global
§ 30% improvement in lead-to-win conversion
§ 25% improvement in lead-to-win conversion
§ +$100K incremental per rep per year
Key Results
Game-Changing Results
Cumulative Adoption
Time
A B
C
D
E F
50-60% penetration
Source: Sirius Decisions
Where is marketing automation?
Where is Predictive Marketing and Selling?
Cumulative Adoption
Time
A B C
D
E F
Source: Lattice Engines
36 Proprietary & Confidential
Algorithmic trading has replaced human trading.
37 Proprietary & Confidential
Who is the Jeopardy player in the middle?
Self-driving cars
Predictive Analytics for Marketing § The era of big data and predictive analytics is NOW
§ There is more information to discover about a prospect than ever before
§ Leading marketing organizations are embracing predictive analytics to dramatically improve performance
§ Marketing can lead – from lead scoring to predictive lead scoring
§ Find your trigger … target selectively and quickly
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Q & A // Panelists
Brian Kardon CMO ���LaDce Engines
@bkardon bkardon@laDce-‐engines.com
MODERATOR: Andrew Gaffney Publisher, Demand Gen Report
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Thanks for a>ending this webinar!
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