Lead Scoring Aligning Sales Marketing
Transcript of Lead Scoring Aligning Sales Marketing
Aligning Sales and Marketing with Effective Lead Scoring Techniques
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Introduction
BtoB marketers increasingly measured and rewarded for providing Sales with a continuous flow of high-quality, closable leads.
Requires a highly automated lead generation, scoring and nurturing process.
Webcast will focus on creating a solid foundation using an automated lead scoring process.
Will Schnabel
VP & GM, EMEASilverpop
Audio Dial-In Information: (641) 715-3222, access code 371-308-461
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Product Marketing – 2% Marketing
Communications – 12%
Hiring – 10%
Market Definition –20%
Sales Process – 10%
52%Lead
Generation
Leads – Your Marketing Team’s Biggest Challenge
52% of marketing organizations say lead generation is their #1 marketing challenge
Source: Sirius Decisions
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From Too Many “Leads” … to Not Enough?
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Recession: The Question Now is For How Long?
Marketing Budgets? Typically – frozen or cut
ROI/Spend Decisions? Cut marketing activities that don’t lead to near-term
sales
Revenue? Management focuses on immediate/short-term
revenue
Resources? Make do with what you have
Measurement? Real-time, accurate – hard, not soft- ROI focused
Targeting Current Customers? Increased focus on existing relationships
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What Does This Mean? – Opportunities for B2B Marketers
Automate lead management processesOptimize demand generation campaignsFocus on:
Nurturing the “A” and “B” lead poolCross-selling/Up-selling existing customers
Focus measurement on outputs:Revenue# Sales-ready leadsCost per win/Cost per sales-ready lead
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The Marketing and Sales Divide
Marketing
• “They don’t follow up on any leads we give them”
• “A lead to them is a sale”
• “They ‘cherry-pick’ and act like they know what the leads want before calling them”
• “They don’t even look at half of the leads we give them”
Sales
• “We have no visibility into what they are doing”
• “We need more support from them”
• “The leads they pass to us are worthless”
• “They don’t understand who our target market is”
Audio Dial-In Information: (641) 715-3222, access code 371-308-461
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Marketing’s Opportunity & Responsibility
82.5% are ready to buy or will buy
70% are long-term opportunities – Marketing Territory
An estimated 70-90% of leads generated by marketing are never followed-up with by sales
Source: MarketingSherpa
Audio Dial-In Information: (641) 715-3222, access code 371-308-461
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So…Marketing’s Role Has to Change
Need to be “lead developers” not just “lead generators”
Only 6 percent of organizations rate themselves as “excellent” demand creators*
These organizations have three consistent attributes
Effective Sales/Marketing Communications
Clear Definition of a Lead
The ability to track and manage leads
* SiriusDecisions 2007 Demand Creation Study
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Keys to Maximizing Lead Management
1.Optimized lead Capture
2.Scoring leads – assigning priorities
3.Timely lead routing and follow up by sales
4.Automating the lead nurturing process
5.Measuring marketing effectiveness
Audio Dial-In Information: (641) 715-3222, access code 371-308-461
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Scoring assigns worth, and directs future marketing actions
Scoring can determine threshold for lead qualification & transfer to Sales
Supported by cultivation strategy
1-to-1 communication vital in moving sales process forward
Automation takes the burden off the marketing department
Lead Scoring is critical to Lead Management
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Lead Scoring…a definition
A relative ranking of one prospect versus another
A way to make an unbiased determination of which prospective buyers are ready for more attention from your organization
A way to decide which function should pay that attention
A way to learn what makes up your ideal buyer profile
Score: To evaluate and assign a grade to.
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Lead scoring is just emerging in the B2B world
Yes53%No
32%
In Process15%
Scoring System to Judge When a Lead is Ready for Transfer, Organizations 100MM+* Many organizations do not
adhere to the principles of the Lead Spectrum
Methodologies tend to be single-category focused, resulting in too many “false positives”
More guidelines than absolutes; significant variations within organizations
Not predictive
Analysis
* SiriusDecisions 2008
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How is a lead defined?
Download a Whitepaper
5000Employees
VP Sales
$100MCompany
EvaluatingSolutions
Has2009
Budget
NeedsFit
Solution
Visited Website Last
Week
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Grouped into Categories
Download a
Whitepaper
5000Employees
VP Sales
$100MCompany
EvaluatingSolutions
Has2009
Budget
NeedsFit
Solution
Visited Website
Last Week
Demographic
BANT
Activity
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Demographics
Individual
Title/level
Department
Role in company (financial, technical, business, relationship)
Buying position (influencer, decision maker, sponsor)
Business/Organization
Revenues
Employees
Industry/vertical
Experience buying products/ services that you sell
Company Relationship
“Fit” with your value proposition
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BANT
Traditional approach of Budget, Authority, Needs, and Timeframe
Can cause often-times “false positives”
Difficult to collect
Must be used in conjunction with other categories
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Activity
Frequency of contact
Recency of contact
Web behavior
Campaign behavior (e.g. email interactions)
Specific Actions (downloaded a whitepaper, watched a webinar)
Can you determine the pattern of activities that indicated who is more likely to become a customer?
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No.
Of C
lose
d O
ppor
tuni
ties
(or $
)
Activity/Behavior
DownloadWP A
E-Bookcampaign
Web Activity
In Last 5Days
Visitedwebsite
>10 times
ViewedOnlineDemo
SubscribesTo
Newsletter
NurtureCampaign
TradeshowVisit
LandingPageOffer
Use your sales data to learn
2020
All Categories are Required
• Profile of target buyer
• Can you supplement with third-party data?
• What happens when your target changes
• Is this different by product line?
• Tire kickers
• Need to be adjusting the activity scoring
•Takes time and technology to understand the appropriate patterns of activity
• Buyers are liars
• Most of us know how the game is played
•Depending on type of demand, could be less relevant (realistic)
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Demographic
BANT
Activity
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Lead Scoring- Explicit Data
Defines the right lead based on your target market segmentScoring performed on a unified database to ensure consistency across all leads
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Lead Scoring- Implicit Data
Scores ActivityRecency and frequency scores with automated discountsApply points for important interactions indicative of interest
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Bringing it all together
Rank Leads by Score Identifies buying phase
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Using Lead Score, map communications to prospect’s buying cycle with agreed-upon action plans
Search for Solutions
Evaluate Solutions
Recognize Need
Justify Solution
Purchase
Evaluate Decision
Interaction
Create Interest- Whitepaper
Edu-sell communications- Case Studies
Purchase and Validate- Free Trial, Discount Offers
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3-X
X+
Consider Solutions- Webinars & Demo2
Lead Score, Now What?
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Example – Tradeshow Leads
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Tracking a Lead From First Tough to Lifetime Customer
Scoring is key to determining the hand-off between Marketing and Sales
Marketing Qualified
Inquiries
Sales Qualified
Sales Accepted
Impressions
Marketing
Sales
New Business
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Include both explicit and implicit factors Get buying from all key stakeholders Weighted across all attributes
Factor time decay in activity scores
Don’t require all information up front Allow scores to be updated with 3rd-party information or verified info (w/
telemarketing)
Link follow-up to lead score approach Set rules for lead transfer to sales, and alerts sales on ‘hot’ leads
Automatically links to nurture campaigns and recycle ‘rejected’ leads
Provide real-time rescoring & analysis of success
Successful Lead Scoring
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Summary
Use automated Demand Generation to become lead developers:
• Capture• Score• Route• Nurture• Measure
…and focus on scoring and converting the long-term leads to near-term opportunities!
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Offers industry leading and highly scalable tools supporting both consumer marketing initiatives and BtoB demand generation processes through our Vtrenz solution.
SaaS approach allows marketers to easily create, automate and execute multi-channel lifecycle marketing campaigns that are timely, relevant and measurable.
Overview• Founded in 1999• U.S. headquarters in Atlanta, GA• International headquarters in London• Top Tier rankings by Jupiter Research and Sirius
Decisions
Who is Silverpop
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“According to JupiterResearch analysis of nine vendors in the marketing automation space, Vtrenz stands out of the pack in both business value provided by the product and market suitability, which is a measure of the track record of the company.”
Vtrenz Leads the Pack in Marketing Automation
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Questions
To learn more download our Vtrenz Lead Management Workbook at www.vtrenz.com
William SchnabelVice President and General Manager, EMEA
Silverpop
wschnabel at silverpop.com
www.silverpop.com