The Science of Marketing

transcript

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Malcolm Friedberg DemandGen

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Brave New World

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Harvard Business Review Thomas Stewart, Editor

August, 2006

“The customers’ buying process has evolved in our world of ubiquitous, instant, global communication

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… but companies’ selling processes have for the most part stayed the same.” L

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Meet the NEW Marketing… and the NEW Tools.

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NEW Marketing is Automation & Efficiency

1.  Easily capturing Data 2.  Qualifying Leads and auto-routing to Sales Reps 3.  Scoring Leads to distinguish Low Hanging Fruit

from Seedlings that need nurturing 4.  Creating a nurturing path to convert prospects

on their timeline 5.  Automating personalized communications with

timely and relevant information 6.  Run your marketing operation from Maui with a

Blackberry and a Mai Tai

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The “Gray Man” Syndrome

Marketing’s Challenge:

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Marketing Qualified Leads (MQL)

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What’s an MQL for YOU?

• Meets the “requirements” of your target buyer

• Shows interest in purchasing your solution

• Has the authority to make a buying decision

• Wants your solution within a reasonable timeframe

• Has the budget to purchase

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What MQL will do for you?

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What are these New Marketing Tools?

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Lead Capturing

• Web Forms

• Site Notices

• Surveys

• Trade Shows

• Referrals

• Call ins

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Lead Scoring based on Digital Body Language

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Lead Nurturing based on creating a Conversion Path

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What Leads Should You Target?

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Define 3-5 Criteria that make a Qualified Lead

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Company X’s Profile…

•  Level - Director and up •  Role - Decision-maker or

Influencer •  Size - 2,500+ employees •  Type - In one of twelve

industries •  Timeframe - Buying in the

next 30 days

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New Marketing Tool for Obtaining Qualification Data

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Scoring: Qualified & Interested

•  Qualified – Score based on Qualification Data –  Level, Role, Size, Type, Timeframe –  How well does the prospect match your Criteria for a

Qualified Lead?

•  Interested – Score based on Observing Behavior –  Does your target act in such a way that suggests they

are ready to buy?

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In the physical world, sales can

observe a lead’s body language.

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In the virtual world, how do we observe a lead’s digital

body language?

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Scoring Digital Body Language

• Website visits and how recently

• # of visits

• # of pages viewed

• High value content viewed

• When was last visit?

• How many offers are they taking on the website?

• Which offers are they taking?

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Interest Scoring = Digital Body Language – BETTER SLIDE

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Scoring Result – Is it an MQL?

Qualified (Data): Company: ADP Name: Sheila Drenning Age: 27 Location: GA Title: Director, Biz Dev Company Size: 5,000+

Interested (Behavior):

Website Visits: 3 Pages Viewed: 14 High-Value Visitor: Yes Watched Demo: Yes Free Trial Signup: Yes Responding to Nurture: Yes On Website Now: Yes Qualification Ranking: A Interest Level: Hot

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Lead Scoring Implemented

(1) Lead Qualification and (2) Interest Level

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Lead Scoring ROI

Based on a Survey of 10 Customers doing Lead Scoring for 165 days (under 6 months)

Before Lead Scoring

After Lead Scoring

Leads sent to sales

Close ratio

Revenue per deal

TOTAL REVENUE

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“Knowing how prospects have responded to marketing campaigns before the call is the single biggest factor in uncovering revenue opportunities for our inside sale team” - Dir. of Marketing Operations, Google

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“Traditional” (Limited) Role of Marketing in the Sales Process

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The Life Cycle of Your Leads

Within 24 months from YOU or your

competitor

Source: Sirius Decisions

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Within 24 months from you OR YOUR

COMPETITOR

Source: Sirius Decisions

6 2 Deals

20 (3)

11 lost Deals

You’re leaving (3,4,5x) DEALS on the table.

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Why won’t a MQL buy?

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Timing? Lack of Information? Confidence? Bottom Line: Not ready to speak with Sales.

Nurturing will… •  Allow you to Re-Score existing prospects

to sell on customer’s timetable

•  Keep an open channel of communication

•  Reveal the benefits of your solution in “Bite-Sized” pieces

•  Obtain additional qualification and interest

information

•  Keep your company/product top-of-mind

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Nurturing Your Leads

• Sales Nurture • Trade Show Nurture • Post Event Nurture • Webinar Nurture

Extended Nurture

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Generated 1500 additional responses More than 400 companies re-engaged

“Those same previously ignored leads turned out to be the best source of qualified opportunities.”

- VP Marketing, Voxify

Lead Nurturing Results

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How it all comes together…

Profiling

•  Establishing and Collecting Qualification Data

Scoring

•  Identifying MQLs for Sales based on QUALIFICATION and INTEREST level, and know if interest is growing or decaying

•  Re-Score during the nurturing process

Nurturing

•  Building a path to conversion on the customer’s timetable

•  Recapturing “dead” leads that are actual buyers

•  Educating the prospect about the benefits of your product

•  Monitoring activity & passing to Sales at the right time

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Welcome to the NEW marketing.

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Please Provide Feedback & Questions

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Malcolm Friedberg Malcolm@DemandGen.com

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•  Leading Marketing Automation System •  Tight integration with leading CRMs

•  400+ customers / 200 employees

•  HQ in Toronto, offices North America, UK, Asia •  Venture-backed

•  Consulting Partners Like DemandGen

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The Root of the Problem… The Chasm between Sales & Marketing S: “I want more leads.” M: “What about last month’s?” S: “Most weren’t any good.” M: “How do you know?” S: “Because my guys only closed 10% of them.”