2016 Lead Nurturing Report In Partnership With Salesforce Pardot
- 2. 2 What is Lead Nurturing? Lead nurturing is the process of cultivating an on-going relationship with your prospects throughout every stage of the buyer’s journey. In the right hands it’s a powerful marketing strategy that delivers relevant, informative content designed to educate and engage your audience whilst priming them to purchase. Why the survey? emedia and Pardot wished to discover the latest and greatest lead nurturing strategies currently deployed by leading marketers to drive their prospects through the buying cycle. We explored the benefits you’ve reaped, challenges you’ve faced and the future goals that you all aspire to. The humble beginnings of lead nurturing Contrary to popular belief, lead nurturing predates the digital era; in fact it’s as old as trade itself. Good sales people consistently built bespoke bonds with their clients that nurtured relationships which facilitated sales. With the arrival of modern marketing techniques that favoured large scale communications over the carefully constructed customer interactions of old, the personal touch was lost. However, today, through the use of bespoke messaging and targeted content, it is once again possible to generate a sense of human connection between company and client.
- 3. 3 This report draws its conclusions from a 2016 survey that polled a large sample of B2B marketers based in EMEA and US/NA. Participants came from a number of companies that varied in size. The vast majority employed over 500 employees and over half were based in the IT/Technology industry. in which industry company size 0 10 20 30 40 50 60 Public Sector/Association/Trade Body Telecoms FMCG Transport/Logistics Education Manufacturing Recruitment Professional Services (accountants, consultants, solicitors) Construction/Engineering/Energy Healthcare Finance/Investment Media/Publishing/Events Other Advertising/Marketing/Design Agency IT/Technology In which industry do you work? in which industry company size 0 10 20 30 40 50 60 0 10 20 30 40 50 60 Company size <10 employees (4%) 10–49 employees (16%) 50–249 employees (25%) 250–499 employees (9%) >500 employees (46%) % 0 10 20 30 40 50 60
- 4. 4 80% of respondents describe their lead nurturing programs as personalised, either segmenting their database or sending emails based on respondent’s action. This is positive step in the right direction, as this is a far more sophisticated lead nurturing technique compared to sending the entire database the same series of emails. Target your communications. One of the primary advantages of lead nurturing is its ability to target communications on 1:1 level. Use the segmentation capabilities at your fingertips to sort the leads and clients held in your database into targeted lists then develop exclusive content for each list. To find out more check out page 13 from Pardot’s Complete Guide to Lead Nurturing. Click here to download the PDF What best describes your lead nurturing programs? Entire database is sent same series of emails, irrespective of their behaviours 10% Other 10% Depending on the respondent’s actions/ interests, series of emails is sent 40% Database is segmented and each group is sent a different series of emails 40% Fact Companies that excel atlead nurturing generate50% more sales readyleads at 33% lower cost.(Source: ForresterResearch)
- 5. 5 Here are a few suggestions to get you started on segmenting your database: 1. Identify the different types of leads or personas in your funnel. 2. Tailor your content based on the buyer’s stage in the buying process. 3. Choose content that is relevant to your customer’s needs to better resonate with your audience. Suggestions for segmenting your database: • Geography • Seniority Level • Language Preference • Stage In The Buying Cycle • Company Size • Industry • Product / Service Interest • Past Purchases • Buying Frequency Fact Targeted, segmented, activity- based or life-cycle based emails are better received by buyers, accounting for more than 75% of all email marketing revenue. (Source: DMA) 33%ofB2Bmarketerscite“targeted delivery of content” (i.e., delivering the right content, to the right people, at the right time) as their biggest lead nurturing challenge. (Source: Forrester Research)
- 6. 6 What is Marketing Automation? Marketing automation is a software platform that helps you to automate your marketing and sales engagement to generate more leads, close more deals, and better measure marketing success. Do you use marketing automation software to support your lead nurturing activities? 90% of the survey’s participants use marketing automation software, which is 30% more than the average B2B marketer. Participants using marketing automation software Yes 90% No 10% Fact Companies that use marketing automation see 53% higher conversion rates and an annualized revenue growth rate 3.1% higher than non-users. (Source: Aberdeen Group)
- 7. 7 With marketing automation, your sales and marketing departments can work as a single, cohesive team to automate and optimise your leads as they move from the top of the funnel, down to the bottom, where sales are made. Marketing automation enables you to: • Generate more leads • Qualify and prioritise your leads • Nurture the leads to a sales-ready state • Manage all of your email marketing campaigns • Report on the success of your campaigns Marketing departments save time and resources with an easy-to-use platform that makes it simple to manage all of your campaigns in a single solution. Your campaigns run on autopilot while you spend time on all the other things you need to do to become more successful. With marketing automation you have a 3600 view of how your prospects are interacting with you, and you’ve got the tools you need to turn them into customers.
- 8. 8 What benefits have you gained from carrying out lead nurture programs? An abundance of benefits can be reaped from implementing lead nurturing programs and they significantly outperform standard campaigns. 83% of participants reveal that once the leads enter the sales funnel, nurtured leads outperform non-nurtured leads. One thing is certain, lead nurturing programs are having a positive impact in numerous areas which will all eventually contribute to a greater ROI. 0 5 10 15 20 25 30 35 40 No difference Decrease - if so what percent 10% increase in response 20% increase in response 30% increase in response 40% increase in response Higher number of leads accepted from sales 13% Generating more warm leads 36%0 5 10 15 20 25 30 35 40 use one of these Greater response to offers and call-to-actions due to targeting/segmenting 24% Ability to segment prospects based on their interests/behaviours 26% What benefits have you gained from carrying out lead nurturing programs? Howhastheperformanceofyournurturedcampaigns compared to your non-nurtured campaigns? %
- 9. 9 Fact 79% of marketing leads neverconvert into sales. Lack of leadnurturing is the common cause ofthis poor performance. (Source:MarketingSherpa) It takes, on average, 10marketing-driven “touches” toprogress a lead from the top ofthe funnel to the top line (i.e.revenue). (Source: AberdeenGroup) emedia’s Intelligent Nurturing will enable you to deploy deeper engagement strategies to best identify key figures in market. From there you can establish and develop relationships with buyers through fully nurtured and scored programs carried out in-house. 5 Steps to Lead Nurturing Success 1. Define your audience and segment your prospects. 2. Offer a valuable piece of content to engage your audience. 3. Score your leads so you can prioritise them. 4. Regularly evaluate frequency, timeline and personalisation of your communications. 5. Continuously optimise and improve your campaigns.
- 10. 10 How to overcome these challenges: 1. Define and develop buyer personas – This will enable you to understand exactly who your buyers are and what their journey entails. Combining independent and market research with insight from actual customers and market trends will enable you to create a number of buyer personas. You can then design targeted content relating to the pain points felt by the buyer personas and map the content accordingly to each stage of the buying cycle. 2. Clean, enrich and maintain data – A robust, up-to-date database is the backbone of a personalised marketing effort. Many services are available to help you cleanse, maintain and verify CRM Data profiles, and append data with additional valuable information. You can also construct your ‘ideal prospect’ list through data acquisition tools to keep increasing the size of your database (just remember to follow proper opt-in requirements!). What are the greatest challenges you have faced from implementing lead nurture programs? Difficulty in creating targeted content based on buyer interest Not enough marketing resources / time Insufficient data to nurture leads with Lack of insight into lead nurturing best practices Sales team not providing enough support
- 11. 11 3. Plan and Prioritise – If your company hasn’t invested in marketing resource management software, you and the wider team will have to align the people, process and technology to support and improve marketing activities. Prioritise your workload by importance and establish daily plans of action, reshuffling tasks as needed. 4. Insight – This report and The Complete Guide to Lead Nurturing by Pardot should fuel your plans to design and implement successful lead nurturing campaigns. Click here to download the PDF. 5. Get aligned with sales – Sales buy-in is critical to success. Here are a few ideas on how to get in sync: • Map out sales and marketing strategies around the customer buying cycle. • Marketing and Sales to collaborate in defining strategies about lead generation and lead nurturing. • Combine customer information - Both departments will have different sources and information on customer insight. Share and double your knowledge!
- 12. 12 XirrusWiFiisaleadingproviderofhigh-performancewirelessnetworks, offering a consistent “wired-like” performance with superior coverage and security. The sales and marketing team at Xirrus needed to create a seamless conversation with their prospects that would provide the right information to their prospects at the right time, improving the path to purchase. Identifying The Moment Of Purchase With their previous solution, Xirrus was not able to effectively nurture prospects. Campaigns were difficult to launch, and the sales team did not have access to any insights gathered. They needed to stay top of mind for prospects, and easily identify qualified sales leads when the propensity to buy was highest. Providing Seamless Conversations With Pardot And Sales Cloud With Pardot, the marketing team quickly created five strong nurture programs to speak to their various personas. Each nurture was carefully constructed to help guide a buyer down the easiest path to purchase, reacting to buying clues along the way. Adding scoring and grading, they had a perfect storm. They were able to completely automate the qualification process by passing sales- ready leads with added insight to the sales team. “It’s a seamless and automatic process. Beyond the efficiency of the automation, the sales team can also leverage Pardot to gain prospect insight,” said Carrie Krinock, Director of Marketing Communication at Xirrus. The company is experiencing their most significant revenue growth spurt in large part due to an updated marketing and sales process. In the last year alone, they saw a 20% growth year-over-year in overall company revenue. Measure, Simplify, Repeat Once the team had tools in place that allowed them to quantify the conversion of leads to revenue, they were able to repeat programs that were working, and update others that needed tweaking. All of this was done in real- time, resulting in skyrocketing marketing productivity. In fact, they are able launch more campaigns with a leaner team. Carrie Krinock Director, Marketing Communications
- 13. 13 Connect • Welcome – Use welcome emails to new subscribers or fulfilment emails in response to a particular offer to suggest additional engagement opportunities, keeping it targeted. • Top of Mind– Engage with your leads at regular intervals, using content that is of value to the prospect. • Re-engagement – Target inactive leads with interesting articles or resources that would prompt them to re-engage with your brand. Educate • Product-focused campaign – Ensure prospects are receiving content tailored around your products’ features and benefits to alleviate their pain points. • Competitive Drips – What makes your product or service different from your competitors? Highlight the advantages of using your company. Close • Industry Expertise – Share any helpful press releases or industry reports with your prospects to subtly reinforce that your product or service is the correct choice. • Promotional – A well-timed promotion or free trial can spur your prospect to take the final step and make their purchase. Retain • On boarding – Usually a high touch and manual process to on board a new client, which can be made easier using certain marketing automation tools. • Upsell – Capitalise on your existing clients with incentives and valuable content, to expand the list of products your clients are using. • Renewal – Convenient way to remind existing customers the time has come to renew their contract/license.
- 14. 14 Whitepapers, webinars and thought leadership pieces are the three front runners when it comes to content used in lead nurturing campaigns. The popularity of these three types of content has soared in the past few years, as they position the company as an industry expert, speak directly to prospects and engage with buyers at various stages of the sales cycle. 0 3 6 9 12 15 Other Free trials Em ail newsletters Dem o offers Blog posts Infographics Videos Research based content Thought leadership pieces W ebinars W hitepapers % What are the primary tactics you use as offers within your lead nurturing campaigns?
- 15. 15 Effective Lead Nurturing Tactics 1. Target, Target, Target – Whatever type of offer you use, you must use targeted content for lead nurturing. Create and understand your unique buyer personas and then design a range of targeted content to nurture each one. 2. Execute multi-channel lead nurturing strategies – Integrate marketing automation, email marketing, direct sales contacts and social media promotions (to name a few) to maximise your offers through all channels. 3. Multiple touches and re-purposing offer – Repurpose your content and offer it through several channels (for example: webinars, videos and whitepapers) using multiple touches. 4. Time is of the essence – Following up leads immediately is often the most effective way of converting any inbound leads. The chances of a lead becoming qualified or entering the sales funnel are a whopping 21 times greater when contacted within five minutes, compared to 30 minutes. 5. Lead Scoring – According to a study by MarketingSherpa, only 21% of B2B Marketers are using lead scoring. Implementing a lead scoring program would enable marketers to improve revenue.
- 16. 16 What are your future goals and priorities for your lead nurturing programs? Lead nurturing is a powerful marketing strategy and it is evident that marketers want to continue reaping the success of their nurturing programs by setting a variety of objectives that revolve around lead nurturing. Almost a quarter of all participants aim to increase conversion rates and generate more sales ready leads. This is a step in the right direction to ensure that the sales and marketing departments work in collaboration with each other. 0 5 10 15 20 25 Lower cost of leads Im proving the segm entation of database Increase num ber of sales accepted leads Increase level of response to lead nurturing cam paigns Increase no. of leads entering the sales pipeline Generate warm er, sales ready leads Increase conversion rates %
- 17. 1717 When it comes to lead generation, emedia has the edge. Benefitting from our place in the internationally renowned Ziff Davis group, our expansive audience of 47 million readers include prominent industry influencers and tech savvy buyers. Using innovative, client-led content we continue to connect high-quality vendors with pre-primed purchasers across the IT, Marketing, HR, Finance and Business Management sectors. Spanning all sectors of the B2B arena, emedia drives demand, generates leads, and grows revenue. emedia 3rd Floor 18 Mansell Street London E1 8AA Veena_Glover@ziffdavis.com Tel: +44 (0) 203 701 5708 Pardot, B2B marketing automation by Salesforce, offers a marketing automation solution that allows marketing and sales departments to create, deploy, and manage online marketing campaigns from one central platform. Together, Pardot and Salesforce empower every rep to act in the moment of engagement, and every marketer to drive greater results from campaigns. Click here to contact us