This presentation gives a high level overview of funnel theory then dives into methods to fill, convert, and enhance your revenue funnel. It finishes with some tips and lessons learned.
Welding Electrode Making Machine By Deccan Dynamics
Lead Gen & Customer Conversions - Filling the Funnel and Getting Revenue
1. Lead Generation &
Customer Conversions:
Filling The Funnel and Getting Revenue
Joe Gelata
February 29, 2012
2. Agenda
• Intro & Definitions
• Funnel Theory
• Filling the Funnel
• Converting the Funnel
• Improving the Funnel
• Rules of the Road
3. Introduction
• Who am I?
– Sales, Marketing, and Operations
– Late-stage Start-ups to Enterprise and Agency
– Technology, Finance, Legal, Retail…
– Local to Global
– Focus on process management and technology to
drive revenue
• CRM, Marketing Automation, BI, RPM
4. Definitions
• Revenue Engine: systems and processes that
drive revenue from suspect to deal close
• Funnel: a group of measurable stages within a
process, each further qualifying a prospect
• Demand Gen: creating demand for your offering
• Lead Gen: process of capturing leads
• Lead Management: process of converting a lead
to a sale
• KPI: Key Performance Indicator
• RPM: Revenue Performance Management
6. Funnel Theory
• Metaphor to illustrate the top-down stages of
the revenue process
• Top is high volume but lightly qualified
• Bottom is low volume but highly qualified
• Goal is to push max volume to the bottom
7. Sales
• 1:1 communication
• Qualified Prospect
• Many Sales Models
• CRM Technology
8. Lead Generation
• 1:N communication
• Inbound & Outbound
• Lead acquisition and
initial qualification
• Marketing Automation
9. Demand Generation
• N:N communication
• Inbound
• Social interaction
• Initial touch point
• Social CRM
10. Funnel Theory
• Is the funnel dead?
– Probably (time for a new logo!)
– BUT the basic theory still applies
– It can help simplify your processes
13. The New Funnel
• The revenue lifecycle is no longer linear
• Prospects can enter/exit at any point and
travel backwards
• The stages are shifting
14. Stage Interaction
• Marketing does more
qualification
• Social influence grows
• Social > Lead Gen
• Lead Gen > Sales
15. Funnel Tips
• Match stages to customers buying habits
• Make sure you can track the stages
• Map activity at each stage to its goal
• Document your stages and processes
17. Filling the Funnel
• Goal:
– Drive prospects into the funnel
• Result:
– More leads in = more revenue out
18. Social Acquisition
• Find and join the
conversation
– Facebook, LinkedIn,
Twitter, Blogs, Forms,
Communities
• Use relevant content to
get attention
• Cheap but time
consuming
• Content creation
– Rule of 7
19. Lead Generation
• Also content driven
• Map content to funnel
stage
• Trade for contact info
– “Contact Knowledgebase”
• Campaign Offers:
– Webinars
– Whitepapers
– Downloads & Trials
– Seminars, Conferences, an
d Tradeshows
– etc.
20. Lead Generation
• Inbound and Outbound
Channels
– SEO
– PPC
– Advertising
– Email
– Direct Mail
– Telemarketing
– Partnerships
23. Converting the Funnel
• Goal:
– Push prospects through the funnel
• Result:
– More conversions = more revenue
24. Demand Conversion
• Create enough interest
to drive prospects to
Lead Gen stage
– Solid messaging
– Interesting content
• Provide clear and easy
path
– Links to website, high
value content, contact
info
25. Lead Conversion
• Collect contact info
• Qualify leads
– Type of content
consumed
– Lead Scoring
• Educate prospects
• Nurture them until sales
ready
26. Sales Conversion
• Remove purchasing
obstacles
• Guide prospect through
purchase decision
• Final conversion to
revenue
29. RPM
• A discipline that optimizes the revenue engine
• Complex process but basic concept is valid
anywhere
• Eloqua: “A systematic approach to identifying
the drivers and impediments to
revenue, rigorously measuring them, and then
pulling the economic levers that will optimize
top line growth”
30. RPM Implementation
• Focus on KPIs
– Campaign Attribution
(ROI)
– Time in Stage (Velocity)
– Funnel Leakage
– Size of Funnel (Reach)
– Rejection Reasons
– Weighted Pipeline (Value)
– Total Revenue Conversion
33. Rules of the Road
• Keep it simple / Don’t boil the ocean
• Process first, then technology
• Beware of best practices
• Experiment and monitor
• Focus on KPI’s, not metrics