LeadLife & 3Forward: 4 Key Actions That Define and Build a Sales Funnel that Won't Leak 4-3-13
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The document outlines four key actions for building an effective sales funnel: defining the ideal prospect, aligning sales and marketing efforts to qualify leads, implementing a lead nurturing strategy, and tracking lead behaviors to enhance sales team profitability. It emphasizes the importance of understanding buyer personas and using targeted content to engage leads early in the buying cycle. Additionally, the text discusses the benefits of lead scoring and real-time notifications to optimize sales processes.
LeadLife & 3Forward: 4 Key Actions That Define and Build a Sales Funnel that Won't Leak 4-3-13
- 1. The 4 Key Actions That Define and Build A Sales Funnel That Won’t Leak eavy Lifting f the H or Y e do ou W
- 2. Today’s Speakers Matt Smith @3FORWARD • Co-Founder, EVP, 3FORWARD • Strategic Sales Expert • 25 years sales leadership and marketing experience Lisa Cramer @leadlife #leadlife • President & Co-founder, LeadLife Solutions • Recognized in the top ten of SLMA’s 50 Most Influential Sales Lead Management Professionals & Top 20 Women in Sales & Lead Management (2009 and 2010, 2011, 2012)
- 3. Live Tweet the Webinar • #Leadlife • #buildapipeline • #3FORWARD
- 4. Agenda 1 How to define your perfect prospect 2 Get sales and marketing working together to define a qualified lead 3 How a lead nurturing strategy will develop a digital conversation with leads early in the buy cycle 4 Why tracking lead behaviors and score based on interest can make your sales team more profitable
- 5. ? How Did We Get Here?
- 6. Marketing is Overwhelmed Marketing Lead generation Social media Sales 2.0 automation Search engine Mobile Micro-sites Big data optimization Multi-channel Initiative-level Content Lead scoring communications ROI’s
- 7. Sales Lacks Discipline Reps Self Select Targets and Prospects Lack formal sales process Total Pipeline Value Matters More Than Quality Sales is Coin Operated
- 8. 1 How to define your perfect prospect
- 9. Sweet Spot Matrix Category Best Fit Good Fit Neutral Fit Criteria 1 Criteria 2 Criteria 3 Criteria 4 Criteria 5 Criteria 6 Criteria 7 Criteria 8 Download 3FORWARD’s Sweet Spot Matrix Template
- 10. Buyer Profiles and Drivers Role Relevant Titles Authority Functional Goals Executive CEO, President, COO Decision Strategy, Growth, Expansion, Shareholders, Client Satisfaction Financial Controller, CFO, VP Finance, Decision Cash Flow, Compliance and Risk Treasurer Management, ROI, Financial and Operational Information Operational VP Operations Decision Store performance, profitability, customer satisfaction, growth, turnover, loss and theft control IT VP / Director Information Technology, Decision Systems, compliance, reporting Store Systems HR Chief People Officer, HRD, HRO Decision Compliance
- 11. Segmenting & Targeting • Demographics : o Information about the prospect Ex: Company size, job title, geography, etc. • Behavior : o Monitoring the prospects behavior Ex: Website visits, whitepaper and/or case study downloads, etc. • Demographics + Behavior = o The complete picture of your lead.
- 12. Developing Buyer Personas • Psychographics Uncovered • Buyer Process/Approach o What moves them behaviorally • Personality o What motivates them o FUD, Facts • Preferred Method of Consumption o What materials do they trust/utilize
- 13. 2 Get sales and marketing working together to define a qualified lead
- 14. Lead Qualification Lead Qualification Researching known Info. gathering, Tire kicker; problem; Not a fit / Does not Timeline not defined; May have need at Has functional meet minimum lead Willing to talk again some point; responsibility; criteria. in 90 days. Timeline not defined. Willing to talk further. Sales Accepted Sales Accepted Return to Lead Remove From Lead Lead Nurturing Database
- 15. Current Marketing To Sales Process Spreadsheets / CRM Database Email Website Banner Ads Events Existing Lists Generate & Social Media Qualify Leads??
- 16. New Sales Process Email, Adwords, Existing lists, Webinars, Offline Events • Refinement of lead to sales process Inquires/Suspects • Marketing further into funnel Marketing Conversions Nurture • Higher quality leads, Sales Ready Leads more sales intelligence Nurture Qualified • Sales spending Opportunities more time selling Closed value Sales Sales
- 17. 3 How a lead nurturing strategy will develop a digital conversation with leads early in the buy cycle
- 18. Understanding Content Marketing Move Your Prospects through the Buy Cycle with Relevant Content Problem Information Brand Objections/ Purchase Segment Recognition Search Evaluation Obstacles Decision Webinars Pricing Industry Case Studies Testimonials Segment 1 stats/reports Whitepapers Datasheets Free demos How to get Blog started Webinars Pricing Industry Whitepapers Case Studies Testimonials Segment 2 stats/reports Blog Datasheets Free demos How to get started
- 19. Tracking Digital Behavior Social Posts Email Opens Website Views Form Fills
- 20. Delivering Relevant Content Based on Behavior
- 21. 3FORWARD Nurturing Case Study Top LeadLife Content Drivers: We Create Pageview CEOs are Feeds Revenue Content Tracking our Best Newsletter Growth Specific to Creates Fit (Target and and Sales These Relevant Rank A) Nurturing Leader Issues Target Flow Issues Audiences
- 23. Score Example Activity Score Email Clicks (not unique) 2 Resource Downloads (not unique) 5 Contact Us Request (not unique) 5 Services Pageviews > 10 seconds minimum (not unique) 5 Sales / Lead Optimization form fill 10 Target Rank = A Leads - Add 5 to any of the above score actions 5 Lead Score Ratings Rating 0 Points Cold 1 through 24 Points Engaged 25 Points or Greater (Target Rank = B, C, D or null) Warm 25 Points or Greater (Target Rank = A) Hot 50 Points or Greater (Target Rank = B, C, D or null) Hot Sales / Lead Optimization form fill (any Target Rank) Hot Leads With No Email Activity or Pageviews After 90 Days Stale Sales Rep Alerts Action Any lead that hits/passes 15 points Alert Sent Any lead that hits/passes 25 points Alert Sent Any lead that hits/passes 50 points Alert Sent Any Sales / Lead optimization request Alert Sent
- 24. 4 Why tracking lead behaviors and score based on interest can make your sales team more profitable
- 25. Understanding Today’s B2B Buying Process is Critical to Improving Demand Generation Most businesses start the Buying Process ONLINE and only once a Priority Shift occurs Status Priority Steps Research Options Validation Choice Quo Shift Back
- 26. B2B Buyers Search for Different Content As They Follow the Buying Process Steps Back and Stage Priority Shift Research Options Decision Validation My back office isn't What are co's my size Who are best How painful will this working. Is it process, Am I ready for doing with their back providers? Do I sole- or be? How do we knowledge or outsourcing? Questions technology? office? multi-source? prepare ourselves? Buyer Is Asking What are best Is your company the What 'lessons learned' Who is talking about practices? Systems Do I have the people to best choice for us right will your other clients these issues on-line? upgrade? Outsource? manage this process? now? share? Something else? Industry Research, Proof of vendor's Case studies, Best Scorecards, Reinforcement of the Statistics, Trends, domain and subject Content Analyst Reports Practices Before/After Reviews value of outsourcing expertise They Are Searching Unique attributes and For Articles quoting other Client Testamonials, Assessment & Successes with similar qualities of the execs Vendor Landscapes Evaluation Tools companies company
- 27. Apply Scoring Based on Activity & Response 50 35 100 63 85
- 28. What Do I Score? An example of what you can score… Scoring from a Campaign: VIEWED CLICKED TIME ON VIEWED TIME ON PRODUCT PAGES WHITEPAPER LANDING LANDING PAGE CASE SITE VISITOR OR CASE DOWNLOAD SCORE PAGE (Score (Score 5 if >= STUDIES (Score 10 if STUDIES (Score 10) 5) 10 sec) (5 each) >= 2 min) (5 each) 1 5 5 15 10 10 10 55 2 5 5 0 0 10 0 20
- 29. Notify Sales in Real-Time Send real-time notifications to your sales Alert Reason: Lead visited Pricing Page on your website team First Name John Last name Doe Integrate seamlessly with Company Technology Solution Providers your CRM system Email jdoe@tsp.com Phone 123.456.7890 *Contact rate decreases Most Recent 100x when response Lead Nurturing Whitepaper time goes from 5 min to Form Fill Most Recent 30 min www.leadlife.com/pricing Pageview Score 100 * Kellogg/MIT Study
- 30. What You Should Track With Lead Nurturing, Companies Have: – Increased revenue by 150% – Increase in qualified leads by 78% – Decrease in sales cycle from months to weeks – Increase first call contact success rate by 85% – Decrease in cost of sales by 10% – Improved conversion rates up to 3x – ROI in 60 days
- 31. Your Take-Away’s: 3 Essential Steps for Turning Inbound Prospects Into Sales-Ready Leads 1. Establish a baseline goal 2. Identify a small group of stakeholders – get them on-board 3. Select one campaign as your case study 4. Measure the results and adjust accordingly 5. Don’t underestimate “how to sell” marketing automation and the investment 6. Get help if you need it – content, ROI
- 32. How to Get Started Wanna Learn More? Get the LeadLife White Paper: The Cost of Not Nurturing Leads www.leadlife.com/nurturing Download White Paper Lisa Cramer Matt Smith lcramer@leadlife.com Matt.Smith@3forward.com