Date post: | 20-Feb-2017 |
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Business |
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How to Engage, Nurture and Close More Prospects with Full-Funnel Marketing
Matt HeinzPresident, Heinz Marketing@heinzmarketing [email protected]
2
AgendaFull Funnel Marketing Overview
10:15 –
11:00
Introduction to Full Funnel Marketing Tools: Pipeline Development funnel model Target account definition & criteria/characteristics Persona & buying journey matrix Lead & opportunity matrix Sales development overview
11:00 –
11:45
Instructions for working lunch11:45
– 12:00
Lunch Break 12:00
– 12:30
Working lunch Select 1-2 of above tools to develop
12:30 –
1:30
Review docs in pairsPresent to each other, provide feedback/recommendations
1:00 –
1:30
Tool presentations Participants present overview of draft tools Get feedback from Matt & the group
1:30 –
2:30
Wrap up and next steps Recommendation for completion back @ the office Availability from Matt to review, provide feedback further
2:30 –
2:45
3
Housekeeping
Copy of this deck
Offers for you Full Funnel Marketing – the BOOK Modern Marketer’s Field Guide Matt’s award-winning* smoked bacon recipe
Send me an email ([email protected]) noting what you want
4
I am serious about bacon
5
Five keys to full-funnel marketing
Do the math (quantify what success looks like)1
Create a clear customer profile2
Map the sales and buying process3
Embrace revenue responsibility4
How will you measure it?5
6
Calculating what you needAssumptionsMeaghan ASP $65,000 Jennifer ASP $75,000 John ASP $80,000 Opp/Close % 25.0%Lead/Opp % 5.0%
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16Meaghan Sales # 1 1 2 3 2 4Jennifer Sales # 1 2 2 2 2 2John Sales # 1 1 1 1 2 1Total Sales # 2 3 4 5 4 7Meaghan Sales $ $65,000 $65,000 $130,000 $195,000 $130,000 $260,000 Jennifer Sales $ $75,000 $150,000 $150,000 $150,000 $150,000 $150,000 John Sales $ $75,000 $75,000 $75,000 $75,000 $150,000 $75,000 Total Sales $ $215,000 $290,000 $355,000 $420,000 $430,000 $485,000 Meaghan Pipeline # 4 4 8 12 8 16Jennifer Pipeline # 4 8 8 8 8 8John Pipeline # 4 4 4 4 8 4Total Pipeline # 12 16 20 24 24 28Meaghan Pipeline $ $260,000 $260,000 $520,000 $780,000 $520,000 $1,040,000 Jennifer Pipeline $ $300,000 $600,000 $600,000 $600,000 $600,000 $600,000 John Pipeline $ $300,000 $300,000 $300,000 $300,000 $600,000 $300,000 Total Pipeline $ $860,000 $1,160,000 $1,420,000 $1,680,000 $1,720,000 $1,940,000 Meaghan Leads 80 80 160 240 160 320Jennifer Leads 80 160 160 160 160 160John Leads 80 80 80 80 160 80Total Leads 240 320 400 480 480 560
7
Enumerating needs by roleAudience Drivers Pain Points Value Propositions (bullet points) Key Messages
Vertical #1
CEO
IT/CIO
CFO
CMO
Audience Drivers Pain Points Value Propositions (bullet points) Key Messages
Vertical #2
CEO
88
One slide to rule them all
9
Defining & developing trust
Trust
(Relationships + Content)
Reputation
10
Only two sales stages matter
1111
Only two sales stages matter
12
The buyer’s journey
Loosening of the status quo
Committing to change
Exploring possible solutions
Committing to a solution
Justifying the decision
Making the selection
BUYER’S JOURNEY
DISCOVERY CONSIDERATION DECISION
13
Leads & OpportunitiesStage Definition Sales Next Step(s) Marketing Next Step(s)
Leads
Open/Not Attempted New lead, has not been attempted or contacted by sales Begin follow-up to get on the phone live to qualify as opportunity
Provide scripts and response offers as needed to increase call-backs
Attempting to Contact Sales has begun the process of following the lead follow-up process to reach the prospect live
Continue follow-up attempts via phone, email, "zero out" to reach prospect live
Provide scripts and response offers as needed to increase call-backs
InterestedProspect has expressed interest in ABC Company and/or achieving better results, and is interested in learning more; full qualification criteria intent/purchase timeline still unknown
Once prospect has been qualified, either move into a "Qualified" opportunity or move to Nurture (if timeline is long-term or undetermined)
Provide collateral, case studies and other information as needed to help prospect determine sales intent
NurtureProspect is interested, but there is no near-term opportunity to buy (prospect may have other immediate priorities, or may just need more time to consider interest/intent)
no action Drip marketing to prospect 1-2 times per month with value-added offers, until they're ready to engage in a short-term buying cycle again
UnresponsiveHaven't been able to get ahold of prospect after repeated attempts
no action Drip marketing to prospect 1-2 times per month with value-added offers, until they're ready to engage in a short-term buying cycle again
No Further Action Lead is not a qualified prospect no action no action
Opportunities
QualifiedProspect has a need & budget, and is actively evaluating solutions
Get demo commitment, plan next steps and timeline to buy (or at least make decision) with prospect
Provide additional support tools as needed (case studies, etc.) to help accelerate prospect interest and buying cycle
Presentation & DemoDemo has been scheduled or completed; working through objections & questions
Get permission to present formal proposal Provide additional support tools as needed (case studies, etc.) to help accelerate prospect interest and buying cycle
Proposal Formal proposal is in process or has been delivered outlining terms, services, fees
Get verbal commitment to buy pending finalization of terms
no action
Negotiation Prospect has verbally agreed to do business; both sides are working through final legal/term/service/fee details
Sign, seal and return baby! no action
Close Agreement has been signed and returned victory lap no action
Closed LostOpportunity has stalled indefinitely or is dead no action Drip marketing to prospect 1-2 times per month with
value-added offers, until they're ready to engage in a short-term buying cycle again
14
A direct line to revenue growth
Highly Moderately minimally ineffective None0%
20%
40%
60%
80%
100%
80%
68%
56%
44%36%
5 ACHIEVING Revenue Goals by Degree of Integration Between Key Sales & Marketing Systems
15
People & problems, not products
Marketing plan in 5 questions
16
What/who are your targets? Direct & indirect users, influencers Address entire buyer ecosystem
1
What do they care about? What outcome are they seeking?2
Where do you find them?3
What or who influences them?4
How do they want to engage and (eventually) buy?5
1717
What do your customers care about?
18
The buyer progression
SolutionProblem/Pain
Objective/Outcome
1919
How to develop a “strategic plan”
20
Creating Traction
2121
A Culture of Failure
2222
Competing against your future self
23
Questions your CEO should be askingShow me your model1
What problem are you solving and for whom?2
Who is your target customer and why?3
What is your sales process?4
Who is selling for you and how are you measuring & managing them?5
How are you going to generate leads?6
How are you going to decrease acquisition costs over time?7
24
Seven traits of outstanding full-funnel marketing professionals
2525
1
Revenue Responsibility
26
Revenue responsibility in practice
Quick sales vs. lifetime value
Good sales vs. bad sales Expensive customers, higher churn likelihood
Can you buy a beer with it?
Business vs. commission check mindset
2727
2
Focus
28
Attributes of a focused marketerDaily plan
Evening evaluation & recalibration
Minimized distractions
Effective triage
Distraction management (internally & externally)
29
3
Customer Centric
3030
This doesn’t write checks!
3131
They did it.
4
Personal accountability
32
Accountability means…Transparency
Constructive criticism & improvement
Macro & micro calibrations
Proactive adjustments
Daily discipline
3333
5
Technology competence
34
Is your tech helping or hurting?
What problem does it solve?
What does it automate or accelerate?
What is your system or process?
Can it scale beyond you?
3535Key #1: Start with the problem & outcome
3636
Is the tail wagging the dog?
37Key #2: Align to Impact & ROI
38Key #3: Establish requirements up front
39Key #4: Work with IT
40Key #5: Integrate with existing systems & processes
41
ACT
DECODE ORIENT
OBSERVE
Key #6: Practice the OODA Loop
42BONUS #7: Quarterly Reviews
43BONUS #8: Be deliberate
44
5
Agile mentality
45
What is your tolerance for chaos?
Speed and focus amidst change
Quick recalibration & new game plan development
The power of humility
46
Empathy
47
What empathy means…For your peers
For your sales organization
For other departments
For your customers
What is important to THEM?
48
Five recommendationsKnow your customer better
Focus on building consensus internally
Prioritize early buyer stages
Establish key metric baselines & goals
Develop systems, processes & habits to execute consistently
49
Housekeeping Copy of this deck
Offers for you Modern Marketer’s Field Guide Full Funnel Marketing the BOOK Matt’s award-winning* smoked
bacon recipe
Send me an email ([email protected])noting what you want