Lead Scoring For B2B Marketers
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Webinar goal: Understand the context and application of lead scoring for B2B marketing initiatives
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Lead Scoring For B2B Marketers
- 1. Lead Scoring for B2B Marketers Adam B. Needles Director, Field Marketing Twitter: @abneedles
- 2. Agenda Introductions B2B marketing defined Lead scoring defined Context The basics Advanced issues Closing thoughts + Q&A
- 3. Sales Process – 10% Market Definition – 20% 52% Lead Generation Product Marketing – 2% Marketing Communications – 12% Hiring – 10% Leads = your greatest challenge 52% of B2B marketing organizations say lead generation is their #1 marketing challenge >>>SiriusDecisions
- 4. Lead management challenges >>>Silverpop
- 5. Webinar goal: Understand the context and application of lead scoring for B2B marketing initiatives
- 6. What are your goals? Tweet: @abneedles + Q&A
- 9. My company Solutions for marketers B2B + B2C Marketing automation + e-mail marketing Software-as-a-service www.silverpop.com
- 10. My role Director, Field Marketing B2B marketing advocate Evangelist for the Engage B2B platform
- 11. B2B marketing
- 12. B2B marketing is different.
- 13. B2B marketing is different. Direct sales forces High-involvement sales process Lower volume; higher purchase price Rational vs. emotional purchase Complex and savvy 'buying unit'
- 15. B2B case >>> AllRegs Mortgage industry data provider 2006 25+ tradeshows per year Low conversion rates Major source of leads Today 10 tradeshows per year Higher conversion rates New lead-gen avenues (e.g., alerts)
- 16. B2B marketing’s primary goals: drive leads for sales cost effectively qualified improve close rates help retain customers
- 18. B2B marketing is focused on pre-sales buyer dialogue
- 20. Lead management
- 21. Lead management Information capture Scoring Routing Sales Nurturing Monitoring
- 22. Awareness Marketing Interest + investigation Marketing Qualified Sales Accepted Sales Qualified Sales New Business Lead stages
- 23. Awareness Marketing Interest + investigation Marketing Qualified L E A D S C O R I N G Sales Accepted Sales Qualified Sales New Business Lead stages
- 24. Lead scoring = ‘Propensity to buy’
- 25. Lead scoring = ‘Resource triage’
- 26. Lead scoring looks at Buyer fit Demographic fit Behavioral fit
- 27. Role of lead scoring “A solid lead scoring approach not only helps to rank prospects against one another, but can smooth the lead flow and serve as the baseline for building a range of business rules that include ownership, role and activities.” >>> SiriusDecisions, “What’s the Score?”
- 28. Lead scoring: Context
- 31. Awareness Marketing Interest + investigation Marketing Qualified 3.9% / 3.8% Sales Accepted 58.3% / 64.0% Sales Qualified 49.1% / 45.9% Sales New Business Stages context (w/ average B2B 08/09 conversions) 23.1% / 20.7% 2.57:1000 / 2.31:1000 >>>SiriusDecisions 2008 / 2009 data
- 32. Cultural context
- 33. Cultural context 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”
- 34. Why score? Align Business Marketing Sales Prioritize resources Maximize sales team capacity Testing, analysis and improvement
- 35. Lead scoring: The basics
- 36. What do we know about a prospect? VP Sales Download a Whitepaper Evaluating Solutions Visited Website Last Week $100M Company 5000 Employees Has 2009 Budget Needs Fit Solution 36
- 37. Putting the pieces together ... Demographic VP Sales Download a Whitepaper Evaluating Solutions BANT Visited Website Last Week $100M Company Has 2009 Budget 5000 Employees Needs Fit Solution Implicit 37
- 38. Lead scoring = grading a prospect
- 39. Lead scoring components Explicit Implicit
- 40. Explicit scoring components BANT Budget Authority Needs Timing Demographics Individual Firm
- 41. Progressive profiling 3. Returning Leads – Pre-Populate – Gather More 2. Returning Leads – Pre Populate 1. Basic Lead Form 4. Returning leads – Personalize – Pre-Populate – Progressively Gather More
- 42. Lead scoring example >>>Silverpop Engage B2B
- 43. Implicit scoring components Recency Frequency Behavior
- 44. Use your sales data to learn No. Of Closed Opportunities (or $) Download WP A E-Book campaign Web Activity In Last 5 Days Visited website >10 times Viewed Online Demo Subscribes To Newsletter Nurture Campaign Tradeshow Visit Landing Page Offer Activity/Behavior Measuring implicit
- 45. Lead scoring example >>>Silverpop Engage B2B
- 46. B2B case >>> Edgar Online Online corporate financial information Challenge managing leads and qualifying them Highly-granular lead scoring Based on everything lead views Helps with campaign evaluation Enables greater scale Quality vs. quantity of leads
- 47. Issues for your model Sales + executive team collaboration Weighting of factors Market segmentation Managing complexity Impact of ‘demand type’ on BANT
- 48. Silverpop on Lead Management Download online: http://www.silverpop.com/marketing-resources/white-papers/engage-b2b.html
- 49. Lead scoring: Advanced issues
- 50. Advanced issues Dialogue and momentum Insights from the communication channel and the nature of the information 'consumed’ Insights from both online AND offline activity Adjusting your model over time Re-assessing lead score data Tuning the relative 'elasticity' of variables
- 51. More on advanced issues New blog post: http://www.silverpop.com/blogs/demand-generation/lead-scoring/advanced-lead-scoring-secrets.html
- 52. Closing thoughts
- 53. Closing thoughts Lead scoring is more about process than technology Successful lead models come from sales/marketing collaboration Efficient, repeatable lead scoring and lead management requires marketing automation
- 55. Additional Q&A
- 56. Thank you! Phone: 617-413-6087 E-mail:aneedles@silverpop.com Twitter: @abneedles Blogs Demand Generation (Silverpop): http://www.silverpop.com/blogs/demand-generation Propelling Brands (personal): http://propellingbrands.wordpress.com/ Silverpop – Lead Scoring for B2B Marketers
Editor's Notes
- >>> Just intro the title …
- We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
- We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
- I’m a B2B marketer …
- We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
- Old challenge: Be at the right tradeshows Allregs is an information provider for mortgage industry professionals. It is the official online provider of Fannie Mae and Freddie Mac underwriting guidelines. In 2006, they attended approx 25 tradeshows which was their major source of lead generation. Since they implemented Engage B2B, they now attend 10 per year. They were putting names from the tradeshow events into their database and then oversaturating their list because there was no way to segment their list. Today, Allregs uses Engage B2B as a lead gen/cross sell tool. Before it was a “shot in the dark” and now it is much more improved. Before: No automation platform; not embracing a lead management mindsetAfter: Better integration; automation platform; lead management mindsetKey capabilities utilized: Nurturing Surveys Engaging w/ prospects and customers based on where they click Using Microsoft Dynamics CRM
- We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
- We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
- What is B2B is not even clearHow to reach B2B customers is constantly evolvingMarketing paradigm is forever re-aligned
- 70% of leads aren’t waiting on you; you’re waiting on them.
- We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”