Transcript Lead Nurture Program Results

SMB – Marketing Automation to Grow!
US-SMB: ‘State of the Union’
2
US-SMB: Challenges
3
…but they are scaled to grow…
4
You!
Goal – Grow 8 to 10+% YoY
Tried everything so far …
Increased spend on R&D, if applicable
Launched products/services in new markets
Hired new skills
Commissioned Market Research, Customer Sat Surveys, etc.
But have only miniscule YoY growth to show for, so far
Times have changed
New competition – global and/or local
Less perceived value or differentiation leading to price wars
Customers have changed the way they buy but you still use the
traditional methods, i.e. lack of sync in the go-to-market model
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New Buying Habits …
Prospects have changed the way they buy:
Prospects use search engines, social media, associations, etc. to learn,
interact, share experiences, make recommendations. This leads to a
more educated prospect in turn gaining all the leverage in a sale
Prospects are 60% to 70% into the sales process before they even talk
to a sales person
Purchasing has become more complex – Decision-makers, Influencers,
etc. Each constituent has their respective agenda.
Prospects expect a company to earn credibility and trust prior to any
sales conversation.
These are facts & if you don’t adapt and evolve, your competitors will!
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Agenda
• More Work, Less People
• More Data, Less Intuition
• More Leads, More Sales
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It Takes a Village
The anatomy of a marketing team today consists of a multitude of highly-skilled
experts. We complete your arsenal and become an extension of the staff and
expertise you already have in-house without the overhead and risk of hiring
additional employees.
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Marketing Technology Landscape
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..Introducing .. StratMarketing Group (StratMG)
Our Client Portfolio
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Who is StratMG?
+90%
Customer retention rates
above 90%
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What does StratMG do & how?
Our Mission –
• Help transform marketing from a cost center to a revenue center!
3
over
decades
• Proven experts – Helped clients grow top line revenues
• Specialize in Manufacturing, IT and Financial Services
• How? Quantify, Quantify, Quantify!
• Marketing Automation
• Sales & Marketing Alignment
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Strategic Approach
Use
Analytics
Customer
Value Tiers
Identify
Short to
& Create
Long Term
Opportunities
Values
Behaviors
Preferences
A
A
B
Retain &
Optimize
Acquire, Nurture
& Retain
Values
High Value
Low Opportunity
Optimize Investment
B
Behaviors
C
C
D
High Value
High Opportunity
High Investment
Customer Strategies
Marketing Planning
D
Explore, Test
Preferences
Assess
Low Value
Low Opportunity
Selective Investment
Leverage Customer
3600 Insights to Drive
Planning Efforts
& Grow
Channel Strategies
Offer Management
Low Value
High Opportunity
Optimize Investment
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Marketing Automation – What & Why?
Definition:
Technology that enables seeding, creation, nurturing & acceleration of demand among
prospects and customers
Goal:
Marketing to be a revenue generator and not a cost center
Just like Sales, quantify marketing contributions
Expected Outcomes:
Automated processes that allow a manager to ‘do more with less’
Optimized and quantified marketing spend
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Multi-Channel Execution
Make Leads
Our Tactical Strategy
Manage Leads
Convert Prospects
MAP – Current Landscape
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5 Critical Factors when evaluating a
MAP vendor
Flexibility
How much customization is needed compared to an out-of-the-box install?
A smaller vendor may be more amenable than a larger one like Oracle-Eloqua
Implementation
How quickly can you go from drawing board to dashboard?
How easy are reporting and analytics functionalities?
Platform Architecture & Maturity
How long has the platform been around and how many customers are currently using it?
Some will allow one campaign across all channels whereas others may require one campaign per
channel. Does that affect tracking and reporting?
Scalability
For the longer-term, can the platform scale to your needs?
What does the 3rd Party eco-system look like?
Customer Service
How well is the customer service rated in the industry?
What training programs, documentation & online communities are available? At what cost?
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Customer Buying Process mapped to the prospect journey offered by the company
Interest
Learn
Evaluate
Justify
Purchase
Marketing
Qualified
Lead
Sales
Accepted
Lead
Sales
Qualified
Lead
$
Marketing
nurtures to
sales ready.
Sales validates
and accepts
ownership.
Sales
validates
BANT criteria
Sales closes
revenue
opportunity.
Sales-Marketing Alignment
Inquiry
Suspect
Marketing
validates quality
of interest.
Sales & Marketing effectiveness determines volume and velocity
Engagement throughout the buying cycle
Awareness
Webpage/SEO
Intent
Deciding
Purchase
Rich Media
Banner Ads
Partner Mailings
Webcasts
Sponsored
Content
Inserts
Referrals
Sponsored Email
Quotes
E-Commerce
Direct
Channel
andCards
Content
Response
Listing Strategy
Print Ads
Newsletters
Whitepapers
Customer
Events
Target
Group
Advertising/
Promotion
Lead
Generation
Primary Revenue Contribution Drivers
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Cost-per-Lead by Marketing Channel
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Quality Assessment of Lead Sources
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Case Study –
Auto & Home Insurance Company
Challenge:
Insurance industry is highly competitive and saturated
Perceived differentiation is minimal, hence, price is the key factor
Goals:
Enhance the conversion rates by at least 15%
Reduce the sales cycle by 10%
Solution:
Marketing revamped the entire strategy to shift majority of dollars to online vs. direct mail
Deployed an Automation Platform to be the nerve center of all touch points
Crafted personalized prospect journeys based on dynamic-content
Created Sales and Marketing alignment through Lead Definition, Scoring and Routing
Tracked and tweaked the campaigns on an on-going basis based on analytics
Outcomes:
Conversion rates were enhanced by 30% whereas the sales cycle was reduced by 8%
Marketing now has a seat on the table and is prioritizing allocation of sales bandwidth based on
collected intelligence such as probability of conversion rates, engagement behavior, segmentation,
etc.
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Lead Nurture Program Results
Non-Nurtured (2012) vs. Nurtured (2013)
Quoted Rate
May
June
July
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Lead Nurture Program Results
Non-Nurtured (2012) vs. Nurtured (2013)
Significant increase in quality of leads
29.5% increase in quoted rate
• From 36.2% quoted rate in 2012 to 46.9% quoted rate in 2013
Quoted Rate
May
June
July
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Lead Nurture Program Results
Non-Nurtured (2012) vs. Nurtured (2013)
Conversion Rate
May
June
July
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Lead Nurture Program Results
Non-Nurtured (2012) vs. Nurtured (2013)
•
29.3% increase in Conversion Rate
From 6.1% converted policies in 2012 to 7.9%
converted in 2013
8% Shorter Sales Cycle
Conversion Rate
May
June
July
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Lead Nurture Program Results
Non-Nurtured (2012) vs. Nurtured (2013)
Average Conversion Rate - Top 4 Lead Sources
2012
7.05%
Website-Call Me
Direct Mail
Coupon
2013
17.17%
32.87%
34.26%
GM Hot Leads
Websmart
Quote
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Sample Engagement Journey
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Samples – Lead Generation + Nurture
Lead Generation
Lead Nurture
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Sample Campaigns – Landing Pages
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Sample Lead Scoring Model
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Sample Dashboard – Marketing Manager
EMAIL INFLUENCE REPORT
Email 1
Email 2
ALL
FirstName, thanks for your quote
request with California Casualty
Del.
5061
Open
2566
50.7%
Click
219
4.3%
Email 3
NC - NC
FirstName, Lets Connect Soon
Del.
Open
Click
OPENS
3077
1111
15
36.1%
0.5%
OPENS
NC
18
1.8%
NC
Email 4
NC-NC / NC-NV
Get the exclusive benefits you're
entitled to
Del.
2534
Open
591
23.3%
Click
10
0.4%
OPENS
15
4.7%
Email 5
NC
NC
You make the difference. CalCas
FirstName, Your Quote is a Click or Call
makes it different.
Away
Del.
2200
Del.
2134
Open
462
21.0%
Open
442
20.7%
Click
9
0.4%
Click
32
1.5%
OPENS
NC
15
12.4%
NC
OPENS
12
20.0%
NC
48
30.8%
CT
226
22.0%
CT
71
22.4%
CT
23
19.0%
CT
4
6.7%
CT
55
35.3%
QT
670
65.3%
QT
203
64.0%
QT
68
56.2%
QT
37
61.7%
QT
45
28.8%
SI
112
10.9%
SI
28
8.8%
SI
15
12.4%
SI
7
11.7%
SI
8
5.1%
156
35.29%
TOTAL
1026
39.98% TOTAL
NON OPENS
317
28.53% TOTAL
NON OPENS
121
20.47% TOTAL
NON OPENS
60
12.99% TOTAL
NON OPENS
NON OPENS
NC
42
2.0%
NC
9
2.5%
NC
36
14.6%
NC
35
35.0%
NC
215
38.5%
CT
632
29.4%
CT
151
42.5%
CT
91
37.0%
CT
2
2.0%
CT
252
45.2%
QT
1272
59.2%
QT
176
49.6%
QT
108
43.9%
QT
55
55.0%
QT
83
14.9%
9.4%
SI
19
5.4%
SI
11
4.5%
SI
8
8.0%
SI
8
1.4%
86.09% TOTAL
355
18.06% TOTAL
246
12.66% TOTAL
100
5.75% TOTAL
558
32.98%
SI
202
TOTAL
2148
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Sample RoI Dashboard – CxO
SAMPLE
ROI PERFORMANCE DASHBOARD
% of budget
$ Set-up costs
$ On-going costs
Estimated $ Total Costs
# Total Leads
% of Qualified Leads
Sales Ready Leads
Cost Per Acquisition
Close Rate
Av erage Sales Cycle - Days
Total Conv ersions
Av erage $$ per Conv ersion
Total Rev enue
Cost Per Conv ersion
ROI per Channel
St rat Market ing Group
EMAIL
WEBSITE
BANNER
SOCIAL
30.00%
$15,000.00
$15,000.00
$30,000
750
54%
19%
$40.00
40.00%
$20,000.00
$20,000.00
$40,000
1,100
49%
17%
$36.36
10.00%
$8,000.00
$2,000.00
$10,000
290
38%
21%
$34.48
20.00%
$17,000.00
$3,000.00
$20,000
345
55%
19%
$57.97
14%
11.50
106
$744
$78,900
$283
163%
13%
13.75
147
$826
$121,456
$272
204%
27%
13.00
78
$543
$42,355
$128
324%
35%
12.50
121
$925
$111,890
$165
459%
Ov erall ROI
Total # of Sales
Total Costs
Av erage $$ per Sale
Total Rev enue
Total Marketing ROI
452
100,000
$784.52
$354,601.00
254.60%
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Reference
Marketing Automation – How-to?
…Starts with due diligence …
Business Objectives/Requirements
Growth? Cost Containment?
How will marketing be gauged? E.g. - % of sales pipeline generated?
Garner funding & Support across teams (CxO, Sales, IT, etc.)
Set clear expectations for each constituency:
CxO – Expected ROI/Wins over a period of time
Sales – Definition and volume of sales-ready leads
IT – Needs for integration and technology support
Consistently communicate the above measurements to exhibit progress
Audit all internal databases:
CRM – modus operandi? Richness of info (no-sale info)? Consistency?
Prospect Database – Completeness? Recency? Buyer Personas?
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Marketing Automation – How-to?
Current Infrastructure:
Which systems will have to be integrated to the MAP? How seamless does it need to be?
How much, how often, and what kind of data sets will need to be exchanged in the integration?
Current In-house Skillset inventory:
Technology knowhow, Analytics & modeling, Strategic, Project Management, Social, etc.
Marketing Plan:
Channels to be used in the short & the long-term, Prospect journey across channels, etc.
Measurement & Tracking:
Current metrics tracked + Additional metrics to be tracked
At minimum – Optimal budget allocation, Lead Velocity, Revenue Performance, Engagement across channels
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Interest
Learn
Evaluate
Justify
Purchase
Search
Begins
Solutions Identified
Solutions Evaluated
Against Needs
Short List
Assembled
Selection
Made
1. Do they meet my
expectations?
1. Leading, solid
product/company?
1. How can I easily
purchase?
2. What do analysts say, are
they a leader?
2. Recommended by
customers and analysts?
2. Can I purchase via
Web site?
3. Is Company viable?
3. Meets or exceeds my
need?
3. Who can I call?
QUESTIONS
1. Who are the suppliers
for my need?
2. What’s the scope of
potential achievement?
3. Where do I stand?
4. How can I easily find
out more?
1. What do they offer?
2. Are their customers
achieving success?
3. Do they fit my need?
4. How can I easily
evaluate/demo?
4. How do they compare?
5. Why should I choose?
4. Can afford to buy &
implement?
5. Why buy now?
Campaign Management: Planning
6. What’s the cost?
EXPERIENCE
4. Do they have a partner
in my area?
1. eMail & Web
1. eMail & Web
1. eMail & Web
1. eMail & Web
1. eMail & Web
2. Seminars
2. Podcasts/Seminars
2. Social Communities
2. TM & Sales Calls
3. Podcasts
3. TM Calls
3. TM/Sales Calls
2. Customer, analyst
references
4. Social Media
4. Social Media
4. Seminars
3. Partners
3. Sales calls
CONTENT
1. Industry white
papers
2. Company product
white papers
3. Customer stories
4. Assessment tests
5. Press releases
1. Company white paper
1. Features/Benefits
2. Seminar Pres
2. Gartner Quadrant
3. Product spec sheets
3. Fin. Press Releases
4. Customer stories
4. Competitive & Cost
Comparisons
5. Flash Demo
6. Ind/analyst reports
7. Educational Tips
5. Product Awards
6. Seminar Pres
1. Product customer
reference site
1. 1800# provided
2. Product Awards
2. Company.com
product
3. Customer stories
3. E-Shop product
4. Press releases
4. Partner locator?
5. Seminar Pres
5. Promotions or deals?
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