Date post: | 17-Oct-2014 |
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Marketing |
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©2014 MarketBridge Corp.– 3 –
“57% of a typical purchase decision is made before a customer even talks to a supplier.”
CEB
“67% of the buyer’s journey is now done digitally”
Sirius Decisions
“B2B buyers complain that only 29% of sales reps are well prepared to engaged
with them” IDC
MARKET RESEARC
H
“76% of B2B customers prefer to receive content unique to their stage in the buying process”
Pardot/SFDC
©2014 MarketBridge Corp.– 4 –
How Do You Sell to Buyers in the Digital Age?
TraditionalMarketing Spend(media buy, direct mail, e-mail, teleprospecting, events)
TraditionalSales Spend(field sales, inside sales, resellers, agents, retail, e-commerce)
“Old School” engagement is declining. Prospects… Take fewer sales meetings Attend fewer events Don’t answer telesales calls Block emails
“New School” engagement allows for self-education Search Social Media On-line media 3rd party sites Content-rich vendor sites Authentic online communities
DigitalEngagement• Search, mobile, social
media• Content marketing, digital
communities• Sales enablement
©2014 MarketBridge Corp.– 5 –
“The State of the Union” for Sales
1 The Bridge Group; 2 National Sales Executive Association
❶ Goals Up, Headcount Down
• Corporate mandates prevent the old formula of More Headcount = More Revenue
• Even less expensive sales channels like Inside Sales need to prove value more than ever before
❷ Increasingly Inefficient “Talk Time”
• Required sales call volume has doubled to make contact with a targeted prospect
• For Inside Sales…1,000 outbound calls generates only 32 real leads1
❸ Ignored Accounts = Ignored Revenue Opportunity
• 48% of sellers never follow up after first touch2
• Disqualified leads (“Not Ready to Buy”, “Insufficient Funds”, “Insufficient Authority” ) are too expensive and too consuming to nurture
• Yet, these leads represent too much revenue potential to be left untouched by sales
©2012 MarketBridge Corp.– 6 –
The New Revenue Equation:Digital Engagement + Data Analytics = Sales Productivity
CUSTOMER PROFILE & DATABASE
Richer Customer DataConnected Marketing & Sales “Engine”
Social/Mobile↓
Direct Marketing↓
Lead Management↓
Sales Management↓
Loyalty & Retention Deeper, Predictive Customer Data &
“Dashboards”
Smarter Marketing & Sales
©2014 MarketBridge Corp.– 7 –
Lifting Sales Productivity Through Digital Engagement and Data Analytics
STEP 1Prioritize SalesCall Patterns
STEP 2Digital Customer
Engagement
•Analytics driven•Sales-ready•Likelihood to convert
• “Not ready to buy” prospects
• Low cost coverage• Systematic lead
qualification and scoring
STEP 3Feed Sales
Quality Leads
• Trigger-based• Fed into SFDC• History of digital
engagement
©2012 MarketBridge Corp.– 8 –
Benefits of Digital + Data Programs
Increased Revenues and Customer Lifetime Value
Expanded Customer Reach and Response
Reduced Cost-to-Sell
Deeper Customer Insight
Improved Customer Experience
©2014 MarketBridge Corp.– 9 –
The Economic Potential
For every 100 inside reps…
$1.4M+ in potential labor savings
60%+ increase in per rep quality talk time
17,600 more quality conversation hours
25% increase in rep sales productivity
20% lower cost-to-sell
Lower cost per conversation by $5
Up to 20-25% lift in overall sales production
2.5X more touches of nurtured prospects at 81% lower cost
©2012 MarketBridge Corp.– 10 –
.
The Prescriptive Path
RevenueEnginesTM for Sales
STEP 2
TargetHighest Value
Customer Interactions
through Analytics
STEP 1
Quantify the Business Case
& Build the Launch Plan
STEP 3
Launch Digital Engagement Programs to Engage Early
Stage Prospects
STEP 4
DeploySMART™
Analytics to Continually Feed
Reps the Best Prospects
STEP 5
Engage Prospects in aContent-Rich
Community and Build Data Asset
©2012 MarketBridge Corp.– 11 –
Step 2 – Utilizing Data to Drive Productivity
Public Profile
P1 P2 P3 P4 P5
Customer Personas & Predictive Analytics
Search EmailWeb
ContentInsideSales
FieldSales
Custom Content
Digital Footprints
TransactionHistory
©2012 MarketBridge Corp.– 12 –
Step 2 - Driving Revenues w/ Predictive Analytics
On-demand social media, CRM, email collaboration at the individual or customer
level …
…delivered on Sales desktop
Monthly/weekly up-to-date profile of customer/prospect
cohorts social media usage and demographics
?
ExistingCustomers
New Prospects
Target Industry, Title, Geo, etc.
Individual Buyer Profile
Prospect Profiling SMART Customer Profiling
On-going opportunity scoring and segmentation to predict high propensity, high value, and
timing of target buyersHigh Value Prospects
Ready-to-Buy Customers
TargetedCross-Sell
SMART Predictive Analytics
©2014 MarketBridge Corp.– 18 –
The Digital + Data Customer Funnel
Digital and Data Funnel
Campaigns
Prospecting
Research
First Contact
Relationship
Predictability
Analytics
Targeted Buyer Personas
Leads Lists By Persona
Score & Enrich Opportunities
Social Selling / Warm Intros
Updates CRM, Full Relationship
More Accurate Pipeline Value
Analyze & Group Customers
©2013 MarketBridge Corp.– 19 –
“Digital Sales Coverage” Example
•Digitally recruited 660,000 not-ready-to-buy prospects
•$5-$6 total cost per acquisition
•Engagement through online community and social media…not field/inside sales
•Buyer persona-based content marketing
•Ongoing conversion campaigns to Sales•New and existing clients purchase at a 3X higher conversion rate
•Omni-channel analytics and program dashboards
•Performance reported weekly
• Field Agents• Online Ads• Social Media
• Direct Mail• Viral Marketing• Public Relations
INTEGRATED PROGRAM• Inside Sales• Live Events• Co-Promotions
MEASURE
CONVERT
ENGAGE
REACH
From Field Sales only….to Digital Nurture + Field Sales
©2014 MarketBridge Corp.– 20 –
Offer:
What’s The Economic Potential for Your Business?
For your sales force… ?
Potential labor savings
Increase in rep time selling
Increase of quality interactions
Growth in rep sales productivity
Decrease in cost-to-sell
Cost per interaction savings
Lift in overall sales production
ROI CalculatorInputs:
1. Average Deal Size
2. Rep Selling Time
3. Conversion Rates
4. Sales Rep Cost
5. Sales Headcount
6. Calls per Week
Provide 6 Metrics and MarketBridge Will Deliver a Digital Sales Coverage ROI Estimate
©2014 MarketBridge Corp.– 21 –
Improve Sales Productivity & Revenue Performance with Digital and Data
Joe Bisagna Senior Director of Client Development [email protected](240) 752-1896
market-bridge.com
MarketBridge delivers digital customer
engagement and analytics solutions to improve the Sales productivity and Marketing ROI of the Fortune 1000.