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Lead Lifecycle Management
- 1. Lead Lifecycle Management:
7 Steps from Prospect to Revenue
Sylvia Jensen
Director of EMEA Marketing
28th November 2012
1 © 2012 Eloqua, Inc. Confidential
- 2. Agenda
• What’s Changed: Why Lead Lifecycle Management is
Important
• Ground Zero: Sales and Marketing Alignment
• The ‘7 Steps from Prospect to Revenue’
• Continuous Optimisation: Why You’ll Never be ‘Done’
2 © 2012 Eloqua, Inc. Confidential
- 3. What’s Changed: Why Lead Lifecycle
Management is Important
3 © 2012 Eloqua, Inc. Confidential
- 4. What’s Changed: Buying Evolution
“…customers’ buying
processes have
evolved. How we
market and how we sell,
has to evolve too”
“…power is now with
the customer …
marketing and sales
have to align”
4 © 2012 Eloqua, Inc. Confidential
- 6. Ground Zero: Sales and Marketing Alignment
What needs to happen before lead lifecycle management
Marketing
Responses
Clicks/Visits
Volume of leads Sales
Costs of Opportunities
programmes Win Rate
Quota Attainment
6 © 2012 Eloqua, Inc. Confidential
- 7. Ground Zero: Sales and Marketing Alignment
It is real alignment or friendliness?
7 © 2012 Eloqua, Inc. Confidential
- 8. Ground Zero: Sales and Marketing Alignment
Map and define the processes and definitions
Customer Buying Interest Learn Evaluate Justify Purchase
Process
Sales
Sales
Qualified Accepted Qualified
Suspect Inquiry Opportu Closed
Lead Lead Won
nity
(SAL)
(SQO)
Sales Sales
Marketing Marketing validates Sales closes
validates validates revenue
Sales Process nurtures to and BANT
quality of sales ready accepts opportunity
interest criteria
ownership
8 © 2012 Eloqua, Inc. Confidential
- 9. 7 Steps from Prospect to Revenue
9 © 2012 Eloqua, Inc. Confidential
- 10. The 7 Steps to Lead Management
Overview
Improve
Targeting &
Segmentation
Improve Marketing
Efficiencies
Measure Marketing Improve Lead
Effectiveness Quality
Do Effective
Nurturing
Enable Sales
10 © 2012 Eloqua, Inc. Confidential
- 11. Step 1: Understand your Buyer
The customer’s journey
Any Has anybody Oh no! I’ve
I’m trying suggestions checked just …
to figure on where I out…?
out …? can find …?
Interest Evaluate Justify Purchase
11 © 2012 Eloqua, Inc. Confidential
- 12. Step 1: Understand your Buyer
Market reach is growing from social channels
Interestingly, Facebook is the largest
contributor for both B2B and B2C. And,
while the traffic from social networks is still
small portion, it appears to be a promising
channel.
Suspect
Inquiry
SAL
SQO
Closed
Won
Source: Eloqua’s April 2011 Benchmark Report, pg 13
12 © 2012 Eloqua, Inc. Confidential
- 13. Sportingbet’s Customer Journey
• Improved User Experience by delivering the right message at the
right time
• Currently running in 14 European countries
• Multi touch campaign and integration of SMS
• Real time alerts and notifications 24/7 environment
Since the Customer
Journey Programs
launched, there are
now 9.7 million per
month (was 2.8 MM in
May 2010) contacts
going through
automation, compared
to 650,000 at the
same time last year!
13 © 2012 Eloqua, Inc. Confidential
- 14. Step 2: Segment your Database
Deliver the right message at right time
Improve Targeting &
Segmentation
Suspect
Geographic
Inquiry
Demographic
SAL
Psychographic SQO
Behavioural Closed
Won
Occasion
14 © 2012 Eloqua, Inc. Confidential
- 15. Step 2: Segment your Database
Precisely, targeted marketing
Improve Targeting &
Segmentation
Less is more. Smaller segmented
batches perform better than larger
presumably non-segmented batches.
Suspect
Inquiry
SAL
SQO
Closed
Won
Source: Eloqua’s April 2011 Benchmark Report, pg 10
15 © 2012 Eloqua, Inc. Confidential
- 16. Step 2: Segment your Database
Improve your data
Improve Marketing
Efficiencies
Best-in-Class companies combine
Data Cleansing & Lead Scoring
which helped identify up to 11 times
more leads per month. Suspect
Inquiry
SAL
SQO
Closed
Won
Source: Eloqua’s April 2011 Benchmark Report, pg 9
16 © 2012 Eloqua, Inc. Confidential
- 17. Data Quality Management
Challenge:
• Disconnect between CRM and Marketing platform to segment and build mailing lists
• Difficulty in managing subscriptions from marketing platform to CRM system
• Integration would have to undergo scrutiny from risk assessment team at Schroders
Solution
• A hybrid between Eloqua’s one and two-way SFDC integrations
• Eloqua manages subscription status while providing sales with visibility in SFDC
• Initiated a changed email address process as well as a deleted contacts process to maintain a
clean database in both installs
Results
• 3,544 changed email addresses
• 1,739 Deleted email addresses from SFDC
• 28,247 Deleted Contacts from SFDC
17 © 2012 Eloqua, Inc. Confidential
- 18. Step 3: Improve Marketing Efficiency
Automate repetitive steps
Improve Marketing
Efficiencies
By offloading marketing staff of
manual tasks associated with lead
generation, scoring, nurturing, event
management, and other tasks, each
person can be more productive. Interest
Source: Eloqua’s April 2011 Benchmark Report, pg 12
18 © 2012 Eloqua, Inc. Confidential
- 19. Step 4: Score your Leads
Get the right leads to sales - fast
Improve Lead
Quality
Lead scoring is a method of assigning
points to each prospect you come
across. Suspect
Score determines action.
Qualified
Lead
Inquiry
(MQL)
Sales
Accepted
Lead (SAL)
SQO
Closed
Won
Will improve win rates, revenue and helps cement sales and
marketing alignment.
19 © 2012 Eloqua, Inc. Confidential
- 20. Lead Scoring
Problem:
• No process placed around in-bound leads - Unable to gauge interest of 4 core
EMEA markets
• Poor quality leads sent to sales for follow-up – frustrating sales team
Solution:
• Develop automated Lead Scoring Program to better qualify and control leads
passed to SFDC and EU Call Centre
Result:
• Prior to automated Lead Scoring conversion of MQLs to SQLs was 2%
• After running 9,943 records through the scoring program, conversion of
MQL’s to SQL’s increased 3X to 6%
20 © 2012 Eloqua, Inc. Confidential
- 21. Step 5: Nurture your Contacts
Nurturing keeps your brand top-of-mind
Do Effective
Best-in-class companies employing Nurturing
automated nurturing, plugging a
leaky funnel, realising growth, whilst
laggards not using nurturing are seeing
a decline in leads. Suspect
Qualified
Lead
Inquiry
(MQL)
Sales
Accepted
Lead (SAL)
SQO
Closed
Won
Source: Eloqua’s April 2011 Benchmark Report, pg 7
21 © 2012 Eloqua, Inc. Confidential
- 22. Lead Nurturing
Problem:
• Too many leads getting to sales (‘rubbish leads’)
• No lead nuturing programme in place to keep prospects ‘warm’
Solution:
• Set up a lead scoring programme based on ‘fit’ and ‘behaviour’
• Developed a lead nurturing program to help prospects along their buying journey
Results:
• Reduced lead volume by 35% - a very GOOD thing
• Improved lead to opportunity conversion rate by 4x
22 © 2012 Eloqua, Inc. Confidential
- 23. Step 6: Enable Sales
Marketing intelligence for sales action
Enable Sales
Suspect
Inquiry
MQL
Prioritized view of SAL
most engaged Sales
prospects Qualified
Opportunity
SQO
(SQO)
Closed
Closed
Won
Won
23 © 2012 Eloqua, Inc. Confidential
- 24. Step 6: Enable Sales
Marketing intelligence for sales action
Enable Sales
Suspect
Easily track buying
signals of interesting
Inquiry
accounts
MQL
SAL
Sales
Qualified
Opportunity
SQO
(SQO)
Closed
Closed
Won
Won
24 © 2012 Eloqua, Inc. Confidential
- 25. Step 7: Measure Marketing Effectiveness
What’s working or NOT working?
Improve
Targeting &
Segmentation
Improve Marketing
Efficiencies
Measure Marketing Improve Lead
Effectiveness Quality
Do Effective
Nurturing
Enable Sales
25 © 2012 Eloqua, Inc. Confidential
- 27. Optimising Results: Lead Management
Conversion Rates Volume Required Sales Stage
20,000 Inquiries
5%
1,000 Qualified Leads
25%
250 Sales Accepted Leads
50%
125 Sales Qualified Opps
20%
25 Closed-Won Leads
£5M Revenue
ASP = £200K SaaS Company, 20% Win Rate
27 © 2012 Eloqua, Inc. Confidential
- 28. Optimising Results: Lead Management
Conversion Rates Volume Required Sales Stage
20,000 Inquiries
5%
1,000 Qualified Leads
65%
650 Sales Accepted Leads
50%
325 Sales Qualified Opps
20%
65 Closed-Won Leads
£13M Revenue
ASP = £200K SaaS Company, 20% Win Rate
28 © 2012 Eloqua, Inc. Confidential
- 30. Summary
Three things to remember
• Lead management is key for any B2B
marketing program
• Learn the steps in lead management
and adopt them as you evolve
• Continuously improve your lead
management processes to grow revenue
30 © 2012 Eloqua, Inc. Confidential
- 31. Useful Resources for You:
The Eloqua blog:
The Eloqua Grande Guide series: http://blog.eloqua.com/
- Lead scoring
- Lead nurturing
- Enabling sales
- Social media
http://www.eloqua.com/grande/
31 © 2012 Eloqua, Inc. Confidential
- 32. Thank You
• sylvia.jensen@eloqua.com
• http://uk.linkedin.com/in/sylviajensen
• @smajensen
It’s all About Revenue: http://blog.eloqua.com
Follow us: http://www.twitter.com/eloqua @eloqua
32 © 2012 Eloqua, Inc. Confidential
- 34. 600%
1000%
34 © 2012 Eloqua, Inc. Confidential
- 35. Impact on the business
Source: Sirius Decisions Within 24 months from
YOU or your competitor
35
35 © 2012 Eloqua, Inc. Confidential