Insights Into Lead Nurturing Benchmarks
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This document summarizes a webinar about lead nurturing. It discusses various aspects of lead nurturing programs including managing data quality, creating enough content, getting better engagement through segmentation and personalization, creating an emotional connection with audiences, and measuring the ROI of nurturing campaigns. The webinar featured a panel of marketing experts from Marketo and Bluewolf who shared best practices and lessons learned around optimizing lead nurturing.
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Insights Into Lead Nurturing Benchmarks
- 1. #LeadNurture New Benchmarks & Insights Into Lead Nurturing
- 2. Welcome Webinar Attendees Type question here
- 3. Follow this webinar on LinkedIn & Twitter #LeadNurture
- 4. About Demand Gen Report • Launched in 2007 to track best practices in lead generation • Newsletter has grown to more than 26,000 readers • We also offer a menu of research and best practices reports • New audio/video podcasts at DemandGenReport.com @DG_Report http://linkd.in/DG_Specialists
- 5. Panelists Jon Miller VP, Marketing Content And Strategy Marketo @jonmiller MODERATOR: Andrew Gaffney Editor, Demand Gen Report Corinne Sklar Global CMO Bluewolf @csklar #LeadNurture
- 6. How many “touches” do you include in your lead nurture programs? #LeadNurture
- 7. What is the typical cadence of your nurture campaigns? #LeadNurture
- 8. Biggest benefits from lead nurture campaigns? (check all that apply) #LeadNurture
- 9. How have your nurture campaigns performed compared to non-nurtures? #LeadNurture
- 10. How have nurtured leads performed within your funnel versus non-nurtured leads? #LeadNurture
- 11. Greatest challenges in creating lead nurture programs? #LeadNurture
- 12. Top 5 Challenges In Lead Nurturing 1. Managing data quality 2. Getting better engagement 3. Creating enough content 4. Creating an emotional connection 5. Measuring & proving lead nurturing ROI #LeadNurture
- 14. Corinne Sklar › Bluewolf Global CMO › Extreme sports lover – including heli-skiing › Studied Journalism & Visual Arts › @csklar
- 17. Customer Engagement in the New Bottom Line bluewolf.com/sosf
- 19. The Wide, Messy World of Data
- 20. Did You Know…. 4 hours Every… a business ownership changes a judgment is filed against a business 60 seconds 8 minutes a business risk profile changes a business files bankruptcy 2 minutes 3 minutes a business ceases operations 14 seconds 2 minutes a directorship (CEO, CFO, etc.) change occurs a new business opens 20
- 21. Read the Full Report: bluewolf.com/sosf
- 23. You’re Not Alone
- 24. What Tools are you Investing in? bluewolf.com/sosf
- 25. 3 Things To DO › DO NOT Forget About “Non-Form Data” › Create “Search Before Create” › DO Implement Data Cleanse, DeDup and Enrichment Processes › Cleanse – Identify – Enrich › DO Put Data Standards in Place › i.e Bluewolf vs. Bluewolf Group, Inc
- 26. CREATING AN EMOTIONAL CONNECTION SECTION? › IS THIS WHERE THIS SECTION STARTS? › THIS SLIDE WILL BE DELTED.
- 28. Hi, I’m Jon Miller VP Marketing and Co-Founder 1. 2. 3. 4. My first child was born the same month that we incorporated Marketo Born in Ethiopia Studied Physics at Harvard, captain of high-school debate team and newspaper staff I have a Top-Secret “Q” Clearance @jonmiller #LeadNurture
- 30. If you haven’t earned your subscribers’ trust, they won’t open or click your email @jonmiller #LeadNurture
- 31. Pros Implicit Opt-In Cons • Low effort • Consumer has not asked to receive email communications • No place for a subscriber to drop the ball • Lowest trust and engagement Explicit Opt-In With Welcome • May be illegal • Time delay between subscribing and first message • No dropped balls Explicit Opt-In • Quickly leads to a big list • Consumer explicitly requests communications • Risk of spambots • Provides opportunity to engage and set expectations • Less effort from subscriber may equal less engagement • If email bounces, you know to filter out that address Double Opt-In • High engagement – they really want your email • Subscriber may miss confirmation email = lost subscribers • Filters out spambots • They want your email, asking again might annoy them #LeadNurture
- 33. More Targeted Sends Are More Engaging Source: 100s of Marketo campaigns #LeadNurture
- 34. When it comes to lead nurturing, nobody wants to get blasted @jonmiller #LeadNurture
- 35. Ways to Segment Early Stage Thought leadership and enjoyable content to build brand, awareness, and desire Middle Stage Tools that help buyers find you when they are looking for solutions Late Stage Company-specific information to help evaluate and reaffirm selection % Saying Content Customized By Category is More Valuable •By Industry: 82% •By Role: 67% • Doers vs. Buyers • Job Function •By Company Size: 49% •By Geography: 29% •By Product Source: MarketingSherpa #LeadNurture
- 36. #LeadNurture
- 38. Create more relevance by customizing by segments: •Industry, •Geography, •Company Size, •etc. #LeadNurture
- 39. The Key to Relevance is Behavioral Targeting Top Tactics to Increase Email Engagement #LeadNurture
- 40. Segment by Topic of Interest Triggers Email Social • • • • • Attends event Downloads content Click email Fills out form Score is changed Content Technology #LeadNurture
- 41. Standard Nurture Triggered Interests Lift Open % 21.7% Open % 34.0% 57% Click to Open % 23.4% Click to Open % 37.1% 59% Click % 5.1% Click % 12.6% 147% #LeadNurture
- 43. #LeadNurture
- 44. #LeadNurture
- 45. #LeadNurture
- 47. 1. BUYING STAGES •Early: Be a Better Marketer 2 3 •Mid: Why Marketing Automation •Late: Why Marketo •Customer: Success 2. Segments •Marketing, Sales, Exec Get The “Definitive Guide to Lead Nurturing” http://marketo.com/DG2LN #LeadNurture
- 48. The 3 R’s of Content Marketing REPURPOSE, REWRITE, REUSE
- 49. Repurpose Content Source: Rebecca Lieb
- 51. Reuse (Curate) • Relevant topic • Links to a valuable resource • Add useful commentary • Subtly suggests next steps #LeadNurture
- 53. Major Commercial Buying Decisions #LeadNurture
- 54. Business Value vs. Personal Value #LeadNurture
- 55. Marketing Business Value Is NOT Enough #LeadNurture
- 56. Move Lead Nurturing to Focus on Elephant – Not Rider #LeadNurture
- 57. Home Siding Campaign • 4 segmentations & email programs – – – – Promo Request for Info Request for Sample Request for Quote • No action. Pulled into drip campaign – 5 emails to tells customer journey • Consistent CTA of Request a Quote • A/B testing • Custom opt-outs to each email • Geo-targeting for email content #LeadNurture
- 59. 3 Ways to Get Started 1. Invest in Your Brand 2. Use Your Customers Language through Social Mining 3. Teach Your Customers Something NEW & Unexpected #LeadNurture
- 60. Invest In Your Brand: “Connection” leads to Conversion #LeadNurture
- 61. Social Mining: Mine the Trends. Mine the Sentiment. #LeadNurture
- 62. Don’t Add to the Noise #LeadNurture
- 63. Teach Something NEW or Unexpected #LeadNurture
- 64. Take Action: Become A Modern Marketer • • The 3 Pillars of Modern Digital Marketing – Complete the Customer Profile – Convert from Broadcast to Personal – Create Customer Intimacy Read the Full Report: bluewolf.com/marketo #LeadNurture
- 65. Measure And Prove Lead Nurturing ROI
- 66. Importance of various factors in measuring the value of email marketing programs #LeadNurture
- 68. Italian Workspace Lead Nurturing View: Dashboard ▼ 2013 Streams Setup My Tokens Joe Smith: Acme Inc. Community + Members Streams: All Streams ▼ Summary Members Marketo’s Secret Sauce Definitive Guide to Events 65 1.5% 55d Lead Nurturing Engagement Unsubscribe 3,450 50 Next Cast In Track + 35 Exhausted Paused Lead Scoring Best Practices Engagement Over Time Recently Updated 100 Search… Practical B2B Lead Generation Added Mar 30, 2013 Sent 12,105 82 Thought Leadership Edited Mar 25, 2013 Sent 12,105 70 Lead Scoring Best Practices Edited Mar 22, 2013 Sent 12,105 55 Lead Management Best Practice D… Added Mar 18, 2013 Sent 12,105 35 Lead Scoring Best Practices Edited Mar 10, 2013 Sent 12,105 9 80 Lead Management Best Practices Mar 18, 2013 Mar 18, 2013 Engagement: 6060 Engagement: 60 Practical B2B Lead Generation 40 Thought Leadership Email Performance Report 20 Program Performance Search… 0 + Dec Jan Feb Mar Apr May Help
- 69. A subject line is only as good as the revenue it generates. You don’t just want Opens; you want Leads! @jonmiller #LeadNurture
- 70. #LeadNurture
- 71. What Testing Can Measure • • • • • Improved engagement Higher conversion rates Shorter sales cycles Better win rates Higher average selling price (ASP) #LeadNurture
- 72. Q&A // Submit Your Questions Type question here
- 73. Q&A // Panelists Jon Miller VP, Marketing Content And Strategy Marketo @jonmiller MODERATOR: Andrew Gaffney Editor, Demand Gen Report Corinne Sklar Global CMO Bluewolf @csklar #LeadNurture
- 74. Thanks for attending this webinar! Download and View this presentation on-demand at: http://dg-r.co/LNwebinar NOTE: URL is case sensitive. #LeadNurture
Notes de l'éditeur
- SUGGESTED BIO SLIDE FOR DGR TO SPEAK TO
- Before we go on, a quick introduction, or refresher, about Bluewolf: Bluewolf is the first global business consulting firm born in the cloud. We have 12+ years of experience helping clients around the world get closer to their customers. We are focused on helping you harness cloud, social, and mobile technologies to become more agile and customer obsessed. We are consultants CE> implementing a tool. Experience – not just one vendor agnostic 13 years – MA we where around being MA. Deepest CRM Expertise – 5000 users 2-3 years competitors – teleco Disuptibe new pricing plans – unbundling devices (undercutting price competition) Sell Value and Customer Engagement – Emotional Drivers not just…. Clearwire Spectrum…Tmobile CEO Emotional Lead Nurturing – emotinal driving customer enagement.
- You can’t really communicate if you 1. are not sending emails to them, 2.) they are not relevant 3.) They get it 8x “A quarter of your data is inaccurate in a year, if you don’t have a [data management] system in place.” If so – how do you continue to drive effective nurtire programs if your people are moving and chaning More than 50 percent of companies work with unreliable or risky data.
- Top 4 business challenges – 1 in 4 companies claim their largest business challenge is DATA – too much, poor/outdated data, duplicates
- Data cleansing will be the main factor to make or break a campaign’s or event’s success. There is good news.
- This is the new world we live in as marketers The people we are trying to reach are living across multiple channels – online & offline There are more and more messages bombarding them everyday. The average customer will be exposed to 2,904 media messages, will pay attention to 52 and will positively remember 4 Many marketers have responded by just trying to yell louder than the other guys. That won’t work. As a result, most consumers are just tuning everything out. What should we be doing? What are the New Rules for success in this world?...<next slide>
- So how can we be more relevant and engaging? You can’t be relevant if you’re broad. We know batch and blast does not work – it is simply less engaging. One way is to be more targeted – smaller sends = more engaging. Engagement Score enables marketers to quickly judge how effectively each piece of content is engaging prospects and customers over time… combines open, click, unsubscribe, conversion, and so on into a single metrics.
- Since nurturing is all about relevance, it’s important to target your content based on your buyer profiles. This most often means customizing your content by industry or by buyer role. Buyer role can mean creating content based on users versus executives, or content for IT versus line of business. At Marketo, we have different nurturing content for marketing managers and sales reps, since they have different needs and interests.
- 18 triggers 11 batches 19 campaigns to manage the whole thing
- Not all segments need to be different email versions
- The key to relevance is behavioral targeting. So you want relevancy and engagement – but this requires sophisticated targeting that combines online body language (web traffic, search behavior, email response) plus transactional data plus with lifestyle and demographic data (personas) When behavioral cues are not used, email can be experienced as a dissonant interruption. What the sender considers a coordinated "drip campaign" may feel more like water torture to the receiver.
- Here’s an example of how Marketo created even more relevance. Topic of interest nurturing: Nurture tracks based on four different topics that we thought our customers were interested in (email, social marketing, marketing automation, and Microsoft Dynamics). We listen for signs that may be interested in this (events attended, web visits, keywords used etc.), and if so assign them to the specific track nurture track. If they get to the end of that specific track, we put them back to regular until they do something else specific.
- Result: Big lift! More on our blog about this: http://blog.marketo.com/blog/2013/06/topic-of-interest-based-nurturing.html
- B2B purchases entail personal risks —far more than most B2C purchases. B2B purchase stakeholders fear: ■ Losing time and eff ort if a purchase decision goes poorly ■ Losing credibility if they make a recommendation for an unsuccessful purchase ■ Losing their job if they are responsible for a failed purchase Moreover, the more personal risks a purchase entails, the more emotional buyers feel—and the more they attach to brands that can provide value and eliminate risk (Fig. 10). messages that teach the customer something unexpected and new about their own business needs and challenges that leads exclusively back to the supplier (Fig. 15 Suppliers should aim for both emotional and rational differentiation to win preference).
- Only 14% of buyers perceive enough meaningful difference between brands’ business value that they are willing to pay extra for that difference. Then they pick top 3 and it’s a race to the bottom. Who can offer the best proice?
- Until recently, many B2B suppliers have focused their customer appeals largely on the rider (reason) to the neglect of the elephant (emotion), overlooking a potential opportunity for more powerful differentiation and preference. Despite our attempts to make purely rational decisions, we are primarily driven by emotional motivations. Author Jonathan Haidt - Source: Jonathan Haidt, The Righteous Mind: Why Good People are Divided by Politics and Religion; http://en.wikipedia.org/wiki/File:Indian-Elephant-444.jpg; CEB analysis.
- Global leader in fiber cement siding, over 100 yrs old Ran a home siding campaign to their national database. When no action was taken, they were pulled into a drip campaign of 5 emails telling a customer journey of choosing/buying/installing siding
- Geo-targeting was split into 3 regions in the US and they were sent custom booklets/content based on color of siding
- To this aim, smart suppliers teach buyers about unexpected financial costs and risks of the status quo to create urgency to act communicate sentiments accurately. Cisco unearths and tests experimental messages and language in social media to optimize personal resonance of the message. To overcome the status quo, best-in-class suppliers now remind buyers of current personal difficulties or emotional needs as well as future personal gains from purchase. This can be very difficult due to customer concerns about the effort and cost—the pain—of change. These pains are very personal to customers and must be overcome to convince buyers to take action.
- Customers with strong connections to B2B brands have higher rates of consideration, purchase, and willingness to pay a premium B-to-B companies with brands that are perceived as strong generate a higher EBIT margin than others. In 2012, strong brands outperformed weak brands by 20 percent, up from 13 percent in 2011 Decision makers are willing to pay a premium for strong brands because established brands make their lives easier. They aggregate information and reduce risk. Strong supplier brands may even aid companies in building their own reputation by association. Like consumers, professional buyers use the vendor’s reputation as a short cut that reduces risk and simplifies the evaluation process. In the US, for example, brands are seen as having an 18% share in the purchasing decision, compared to the 17 percent tied up in the sales effort. (McKinsey)
- Use the right terminology for your customers
- Content Marketing Doesn’t Make You Escape Commodotization
- By surfacing the emotions underlying customer behavior, Marketing reveals new perspectives about customers’ needs. Increase the gain or reduce the pain
- Some basic metrics. Test for what works for you! (DJ talks about this also.) But… doesn’t really tell you what’s causing engagement. If you’re like most marketers, you’re likely wading through many different email performance metrics trying to determine the impact of your content…. Email A got opened, but email B was clicked, and email C drove conversions… which is best?
- Engagement Score enables marketers to quickly judge how effectively each piece of content is engaging prospects and customers over time. This proprietary metric takes many factors into consideration, and outputs a single number that gives marketers a fast, apples-to-apples method of measuring content performance… See trend over time, how updates to program improve engagement.
- How are we measuring the success of challengers
- Measure the effectiveness of our nurture on these dimensions Include opps created slide