YOU HAD ME AT HELLO! - BEST PRACTICES IN LEAD QUALIFICATION FOR INBOUND MARKETERS [INBOUND 2014]
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Michael Freeman presents best practices in lead qualification for inbound marketers, emphasizing the importance of defining clear roles, using lead scoring for prioritization, and focusing on converting leads efficiently. He suggests maintaining a structured approach to calls, including preparation, setting expectations, and thorough documentation for follow-ups. Lastly, measurement of performance through conversion rates is crucial for refining lead qualification processes.
![#INBOUND14
– HOW DID YOU FIND OUT ABOUT US?
– WHY ARE YOU CONSIDERING [XYZ] NOW (IMPENDING EVENT)?
– HOW WOULD [XYZ] CONTRIBUTE TO YOUR ORG’S SUCCESS?
– How will you decide which [XYZ] is right for you?
– When do you need a new [xyz] solution?
– TOTAL # OF USERS/EMPLOYEES IN THE COMPANY?
– Who started the search for [xyz]?
– What is your role in the evaluation process?
– HOW DID YOU FIND OUT ABOUT US?
– WHY ARE YOU CONSIDERING [XYZ] NOW (IMPENDING EVENT)?
– HOW WOULD [XYZ] CONTRIBUTE TO YOUR ORG’S SUCCESS?
– How will you decide which [XYZ] is right for you?
– When do you need a new [xyz] solution?
– TOTAL # OF USERS/EMPLOYEES IN THE COMPANY?
– Who started the search for [xyz]?
– What is your role in the evaluation process?
Ask, listen and inspect](https://image.slidesharecdn.com/uvz6nvc6tkkbvcckjz4l-signature-e92a2b221b49f329adb54d0fe8cc6b0d2e2d358990655ec65d9efcadf1efa4db-poli-140930095026-phpapp02/85/YOU-HAD-ME-AT-HELLO-BEST-PRACTICES-IN-LEAD-QUALIFICATION-FOR-INBOUND-MARKETERS-INBOUND-2014-36-320.jpg)
YOU HAD ME AT HELLO! - BEST PRACTICES IN LEAD QUALIFICATION FOR INBOUND MARKETERS [INBOUND 2014]
- 1. #INBOUND14 YOU HAD ME AT HELLO! Best Practices in Lead Qualification for Inbound Marketers Michael Freeman Head of Demand Generation, ShoreTel
- 2. Fan of hallway commutes and beautiful views 110% YoY increase in qualified inbound leads last year Continued strong growth this year @spanishgringo Michael Freeman
- 3. 1 Who’s on first? 2 The call 3 Measuring performance AGENDA
- 4. #INBOUND14 “Lead qualification is the bridge between marketing and sales” – Anonymous
- 5. #INBOUND14 First, the fine print
- 6. #INBOUND14 These are my recommendations…. Your mileage may vary depending on many factors
- 7. #INBOUND14 These are my recommendations…. Your mileage may vary depending on many factors Take what you can and adapt it as needed
- 8. #INBOUND14 As good marketers, we like to tinker with things and make them better
- 9. #INBOUND14 1 Who’s on first?
- 10. #INBOUND14 1 Whose line is it anyway? 2 Who you gonna call? 3 To qualify or disqualify, that is the question Who’s on first?
- 11. #INBOUND14 It’s not settled where lead qualification should reside Who’s line is it anyway?
- 12. #INBOUND14 For many companies, lead qualifications sits in Sales (e.g. BDRs at HubSpot)
- 13. #INBOUND14 For others, lead qualification sits in Marketing (e.g. MDRs at ShoreTel)
- 14. #INBOUND14 Most qualifiers reside in sales Source: The Bridge Group (they’re good at what they do) Where does the group report? Sales is 3x more likely than Marketing to own qualification
- 15. #INBOUND14 “Inbound-focused” qualifiers are more equally split by dept Source: The Bridge Group We’re at Inbound after all, right? % Reporting to Sales by Focus
- 16. #INBOUND14 • Role Is clearly defined • Has agreed upon metrics • Carries pipeline quota, not a sales quota • NOT responsible for closing deals Whose line is it anyway? Demand Generation Lead Qualification Pipeline Management & Closing
- 18. #INBOUND14 • Focus on building pipeline – Better MQL à SQO conversion rates – Less leakage • More economical than sales reps • Proving grounds for future sales reps (in most cases it’s up or out) • Easier to align with marketing processes and data management Why have a dedicated qualification rep?
- 19. #INBOUND14 OK, but which of these awesome leads do you call?
- 20. #INBOUND14 • Lead scoring is the best route to prioritizing qualification • Even if you can get to everyone, scoring prioritizes who is called 1st, 2nd, etc… • I recommend you look at these resources – Jessica Meher’s presentation from Inbound 2013 – HubSpot User Guide - How to use Custom Lead Scoring – Infer’s Guide on Predicative Lead Scoring Who you gonna call?
- 21. #INBOUND14 Insane Clown Posse Ideal Customer Profile The characteristics (demographic, firmographic, psychographic, and situational) that identify the “best fit” for potential customers If you have clear personas mapped to performance data you’re ready Start with your ICP
- 22. #INBOUND14 – You can always use something to score or prioritize leads • Take advantage of HubSpot’s lead scoring tools (Bonus Tip: Make sure HubSpot Score is mapped to SFDC Lead Object) • Consider Big Data sources to enhance your scoring Who you gonna call?
- 23. #INBOUND14 Who you gonna call? Example of lead view using lead score
- 24. #INBOUND14 Who you gonna call? Example of lead view using lead score, source & dates
- 25. #INBOUND14 Disqualifying not Qualifying It’s kind of like, uh, science
- 26. #INBOUND14 – Lead flow and pipeline management is all about efficiency • Don’t waste anyone’s time • Focus where there’s value (i.e. potential sales) – So, you really are trying to disqualify leads – Only those that you can’t disqualify continue on the journey – Your threshold will depend on lead flow and available resources To qualify or disqualify, that is the question
- 27. #INBOUND14 Just because you pass judgment on the quality of the lead, you don’t have the right to act like this guy
- 29. #INBOUND14 – How did they find you? – What content have they consumed? – What pushed them over the edge to become a lead (worth calling)? – What does the prospect’s company do and what is their business model? – Are their any signals around their likely pain points? Prepping the call
- 30. #INBOUND14 – HubSpot Lead Intelligence is your friend Prepping the call
- 31. #INBOUND14 Take call prep to 11 Look at the record in HS Read the HubSpot guide to lead intelligence
- 32. #INBOUND14 You’ve prepared and are ready to engage, but don’t go in with guns a blazing
- 33. #INBOUND14 – Sets the proper expectations – Changes the context from a pitch to a consultation – The goal is moving further down the funnel, not closing Instead, start with the upfront contract
- 34. #INBOUND14 1. Welcome and thank 2. Reassure them 3. Limit the scope 4. Set next-steps 5. Get consent The upfront contract
- 35. #INBOUND14 Listen very carefully to your prospect
- 36. #INBOUND14 – HOW DID YOU FIND OUT ABOUT US? – WHY ARE YOU CONSIDERING [XYZ] NOW (IMPENDING EVENT)? – HOW WOULD [XYZ] CONTRIBUTE TO YOUR ORG’S SUCCESS? – How will you decide which [XYZ] is right for you? – When do you need a new [xyz] solution? – TOTAL # OF USERS/EMPLOYEES IN THE COMPANY? – Who started the search for [xyz]? – What is your role in the evaluation process? – HOW DID YOU FIND OUT ABOUT US? – WHY ARE YOU CONSIDERING [XYZ] NOW (IMPENDING EVENT)? – HOW WOULD [XYZ] CONTRIBUTE TO YOUR ORG’S SUCCESS? – How will you decide which [XYZ] is right for you? – When do you need a new [xyz] solution? – TOTAL # OF USERS/EMPLOYEES IN THE COMPANY? – Who started the search for [xyz]? – What is your role in the evaluation process? Ask, listen and inspect
- 37. #INBOUND14 – Do their answers fit your ICP? – Can you find any red flags? (have 1-3 questions to identify red flags) – Use their answers to frame future conversations – TAKE NOTES!!! (use a template) Ask, listen and inspect Not a lake!
- 38. #INBOUND14 OK, time to clean up Tie up loose ends, and move on to the next prospect
- 39. #INBOUND14 – Do you have any follow-up to do’s or requests for info? • Are you setting up the prospect and sales rep for success? • Will you provide that information or will the sales rep? – Does the prospect know what to expect next & When? – Are the notes complete and available for the Sales Rep? – Was the record updated correctly in the CRM? – OK, on to the next call… The cleanup
- 40. #INBOUND14 – If the lead is not a fit, document it with a picklist – Have a reasonable list of reason codes • Enough detail to provide meaning • Small enough that it is manageable and not splitting hairs • We have ~ 10 (e.g. missing feature, no budget, pricing, unresponsive, etc..) – Is it not now (f/u or nurture) or not ever (purge)? Clean up the bad leads too…
- 41. #INBOUND14 1 Prepping the call 2 The upfront contract 3 Ask, listen and inspect 4 The cleanup The call
- 43. #INBOUND14 1 Know your waterfall 2 The workday profile 3 Finding successful behaviors Measuring performance
- 44. #INBOUND14 • Understand your baseline for each transition • Compare with benchmarks Know your waterfall Inquiries MQLs SALs SQLs Closed Won 21% 50% 38% 21% Source: Sirius Decisions & Infer
- 45. #INBOUND14 • For us, lead qualifiers live by these 2 metrics • 1st: MQL ! SAL conversion rate • 2nd: Inquiry ! MQL conversion rate Focus on the right metric(s) Inquiries MQLs SALs SQLs Closed Won 21% 50% 38% 21% Source: Sirius Decisions & Infer
- 46. #INBOUND14 – Find the optimal # of activities per day – Estimate staffing requirements – X hours per day / time per activity = # of activities per day e.g. 10 min per call ~ 40-45 calls & emails per day – Benchmark reps to compare: • Activities per day • Conversion rates The workday profile Read these articles: Marketing math & Team sizing
- 47. #INBOUND14 • How does call length improve quality? • Listen to calls to identify good & bad technique • Improve Harry’s throughput? • Improve Ron’s quality filter Finding successful behaviors Rep Harry Ron Calls 260 300 Leads Touched 240 290 MQLs 68 100 SALs 59 65 Lead à MQL 28% 34% MQL à SAL 87% 65% Cost per SAL $203 $223
- 48. #INBOUND14 – Share with your reps – Discuss opp quality with Sales – Discuss lead quality with Demand Generation – Study why leads don’t convert Finding successful behaviors
- 49. #INBOUND14
- 50. #INBOUND14 “We build too many walls and not enough bridges.” – Isaac Newton
- 53. #INBOUND14 1 The Shining – Warner Bros. 2 Back to the Future – Universal Pictures 3 Wineglass Marketing 4 Glengarry Glen Ross – New Line Cinema 5 Despicable Me 2 – Universal Pictures 6 Game of Thrones, Fire and Blood (S1E10 for those checking…) - HBO 7 Swingers – Miramax Films 8 This is Spinal Tap - MGM 9 Commando – Fox 10 Radio Array – Wikipedia 11 Mirage – Wikipedia 12 Pulp Fiction – Miramax 13 Yahoo! Sports 14 Drum Circle – Wikipedia 15 Rickety – Wikepedia 16 The Millau Viaduct Bridge, France - stylishandtrendy.com Photo credits