Generate More Qualified Leads

Agenda Facts About Lead Generation And Management The Role Of Social Media In Lead Generation How Does Lead Nurturing Works? The Essential Of Sales And Marketing Alignment How To Close More Deals? Marketing And Sales Measurement - Deep Dive Into KPIs Government Grants - Singapore

Feedback Gotten from Audience © Copyright InterAktiv Technology Pte Ltd. All rights reserved. Generate More Leads Increase Sales Performance Align marketing efforts with web site and social media to generate leads

Feedback Gotten from Audience © Copyright InterAktiv Technology Pte Ltd. All rights reserved. Generate more marketing ideas Lead Qualification, Scoring and Nurturing Generate qualified leads at lower costs

CSO Insights 2011 Sales Performance Optimization Study 16th Annual Sales Effectiveness Research Project 3,000 Companies Participated Worldwide 100+ Sales Effectiveness Metrics Tracked Best Practices Benchmarking on How Organizations are Leveraging People, Process, Technology and Knowledge to Address Challenges

2011 Revenue Targets Compared to 2010 © Copyright InterAktiv Technology Pte Ltd. All rights reserved. 92% increase targets 55% increase by more than 10% Source: CSO Insight, 2011 Sales Performance Optimization

Perspective on Achieving 2011 Revenue Targets Generally companies are optimistic Almost 54% say needs additional effort Source: CSO Insight, 2011 Sales Performance Optimization © Copyright InterAktiv Technology Pte Ltd. All rights reserved.

Lead Generation Analysis Only 3 in 10 leads are from marketing Marketing needs to take on a larger role Source: CSO Insight, 2011 Sales Performance Optimization © Copyright InterAktiv Technology Pte Ltd. All rights reserved.

What is Social Media? “A group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, which allows the creation and exchange of user-generated content.“ - Andreas Kaplan and Michael Haenlein

Adweek Survey on Impact of Social Media on Consumer behaviour Nearly half of the 1,200 respondents felt that online communication was easier than face-to-face connections 25.6 percent said they made no distinction between online and offline interaction.

Global Web Index Annual Report 2011consumer behaviour 50% of internet users worldwide reported an increase in their trust of contacts on social networks This same group reported a 21% increase in trust on blog sites

Advantages of Using Social Media for Lead Generation

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Promotes Brand Awareness Inexpensively Marketing budget to build brand equity: Billions of dollars Marketing budget to build brand equity: Relatively much lower

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How Do You Generate Leads Using Social Media?

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Make sure your Sales and Marketing processes are aligned well,[object Object]

Optimize your lead generation process from time to time based on the KPIs,[object Object]

Definition of Lead is defined as any entity who has an interest to buy from you regardless of period Teng Chuan Hiang Managing Partner

What is Lead Nurturing Is the process of building relationships with qualified prospects to increase the level of interest to buy from you when they are ready to buy. Teng Chuan Hiang Managing Partner

Marketing Funnel – Changing Buying Behaviour ProspectsInControl Prospects& SalesShare Control

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. 01-Aug-2006 Buying Phases (PHASE III) EVALUATE RISK (PHASE II) Evaluate Options (PHASE I) Discovery Risk C O N C E R N Needs Cost Price Needs Solution L E V E L O F Risk Solution T I M E Shifting Buyer Concerns – By Solution Selling® KEY CONCEPTS

Lost Revenue Without Lead Nurturing Marketing Funnel 100% Leads Generated 25% are ready to buy 50% are qualified but NOT ready to buy 70% will eventually buy Lost Revenue 25% are disqualified

Lead Nurturing Processes Cross-sell Up-sell Lead Nurturing (New) Higher Revenue New Customers New Prospects

Essentials of Lead Nurturing Marketing and Sales Processes Design Define a Qualified Lead Human Intervention Develop Personas Content Selection Navigation Behaviour Lead Scoring – Behaviour Score Lead Scoring – Profile Score

Definition of a Qualified Lead © Copyright InterAktiv Technology Pte Ltd. All rights reserved. A Qualified Lead is a prospect who has demonstrated a Keen Interest to explore the next step of buying to solve business problems and preferably has the Urgency to do so within a defined period of time. Teng Chuan Hiang, Managing Partner, InterAktiv Technology Pte Ltd

Characteristics of Qualified Lead Characteristics of Qualified Lead Has a real need/ problem Has or willing to allocate budget Has an Impending Need © Copyright InterAktiv Technology Pte Ltd. All rights reserved.

Example of Qualified Lead Characteristics of Qualified Lead Sales productivity is low Is willing to allocate budget Realised that its losing revenue and increasing selling costs © Copyright InterAktiv Technology Pte Ltd. All rights reserved.

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Develop Personas Understand the Profile of the Buyers in your Target Market Understand their Buying Behaviour – Talk to the Sales People Who are these People, Where do they go online to look for Information Job Focus, Job Function and Job Role

Content Selection / Mapping © Copyright InterAktiv Technology Pte Ltd. All rights reserved. Map content to each of the cell Score the content accordingly You only need good quality content Test and optimise Start small think BIG

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. How Do You Do Lead Scoring? BehaviourScore Profile Score Title Industry Budget Buying timeframe Other attributes of an ideal customer Content scoring Different content has different value in the buying cycle Content consumed in different sequence can have different scores No activities is a behaviour

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Top and Bottom-Line Impact of Lead Nurturing Generate 50% more sales ready leads at 33% lower cost per lead Increase sales productivity by as much as 40% Increase the win rates by as much as 7% Increase the number of sales people making quota by 9%

Return on Investment Justification “ A 10% improvement in lead quality can result in a 40% improvement in sales productivity. ” Stu Schmidt, Vice President Global Sales and Services UnisfairIntercall Company

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Why Sales and Marketing Are Not Alignment? “Marketing feels that sales doesn’t follow up on marketing-generated leads. Sales counters that the leads aren’t any good, and the information they provide isn’t helpful. My experience confirms that this communication breakdown affects nine out of ten companies.” Brian Carroll, CEO of InTouch Inc. Author of “Lead Generation for the Complex Sales”

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Change Marketing’s Compensation Structure “One of the ways to change corporate cultures so that alignment becomes sticky is to change marketing’s compensation structure. Ask any CMO, and they’ll tell you that’s a sensitive subject. People don’t like it when you ‘mess with their money.’ But we need to make these changes if marketing is going to dramatically and systematically improve the top line.” SVP of Marketing at Accept Corporation

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Sales and Marketing Alignment Marketing Sales Ask sales what is a qualified lead Share intelligence with marketing Understand the sales process Provide feedback on lead scoring Treat sales as your customer Treat marketing as your ally Share common revenue goals Share common revenue goals Develop Strategies and Tactics Together

Marketing And Sales Funnel Alignment Buyer Cycle Sales Cycle Marketing can influence Reasons for losing Stage 1 Reasons for losing Stage 2 Sales takes over Reasons for losing Stage 3 Won © Copyright InterAktiv Technology Pte Ltd. All rights reserved.

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Benefits of Marketing and Sales Alignment Grow 5.4 points faster than their less-aligned counterparts when compared with businesses in the same industry Close 38% more proposals than non-aligned businesses Lose 36% fewer customers to competitors Hugh Macfarlane, Founder and CEO of MathMarketing

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. 4 Areas of Focus Focus on good quality leads – Leads with high scores Increase selling time by embracing technology Drive Sales Performance using SalesProcess Focus on Sales and Marketing Measurements

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Focus on Good Quality Leads Work with Marketing to Define QualifiedLeads Be Laser Focus when Working on Leads Provide Regular Feedback to Marketing on Lead Quality

Sales Process Impact on Sales Performance 28%say will increase performance significantly 86%say will increase performance Source: CSO Insight, 2011 Sales Performance Optimization

Design the Sales Cycle Process 1. Qualified Lead Sales Activities Qualified Leads 2. Discover Needs 5. Closed Won/Lost Confidence Level 3. Present Solution 4. Negotiate /Review Timeline © Copyright InterAktiv Technology Pte Ltd. All rights reserved.

Embrace the Latest Technology –CRM 2.0 Sales Collaboration Sales Knowledge Management Lead Generation and Nurturing Management Social CRM Sales Analytics / Forecasting

Focus on Sales and Marketing Measurements Lead Conversion Rate Lead Source Effectiveness Account Performance Closing Rate Average Deal Size Forecast Accuracy Average Sales Duration

Should I Hire More Sales People © Copyright InterAktiv Technology Pte Ltd. All rights reserved. CEOs often wonder, why should I invest in marketing (lead generation) when I can hire more sales people for the same budget and see a measurable increase in revenue Return on Marketing Investment, Guy R. Powell

© Copyright InterAktiv Technology Pte Ltd. All rights reserved. Increase Sales Performance Without Hiring More It is better to invest in building a marketing infrastructure to generate quality leads and give it to proven sales people than to hire more sales people who you have to train and hopefully able to perform. Brian Carroll, CEO of InTouch Inc. Author of “Lead Generation for the Complex Sales”

Sales and Marketing Measurements Lead Conversion Rate Cost Per Lead Lead Source Effectiveness Account Performance Closing Rate Average Deal Size Forecast Accuracy Average Sales Duration

Forecast Accuracy Accurate Forecasting Ease Sales Management There must be an impetus to address this challenge Source: CSO Insight, 2011 Sales Performance Optimization

Reduce the Cost of Selling A survey conducted by Accenture showed that sales expenses contribute more than 50% of Sales and General Admin costs. Lowering this costs means higher profit – Bottom line impact. © Copyright InterAktiv Technology Pte Ltd. All rights reserved.

Average Deal Size - $100,000 per deal

To make quota 40 deals are required

At current win rate requires 80 deals

Cost of generating a deal - $3,000 per dealTotal Cost of producing 80 deals = $3,000 X 80 X 10 = $2,4000,000

At current win rate requires 67 deals

Cost of generating a deal - $3,000 per dealTotal Cost of producing 80 deals = $3,000 X 67 X 10 = $2,010,000

Generate More Qualified Leads

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