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Brian Carroll, Executive Director of MECLABS and Pamela Markey, MECLABS Director of Marketing & Brand Strategy will continue the conversation they began in part 1 as they reveal what has helped MECLABS, their clients and businesses that have submitted their experiences to MarketingSherpa and MarketingExperiments, the primary research organizations of MECLABS.
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Finish 2011 StrongSix Funnel Focal Points to Maximize Time, Resources and ,Revenues – Part 2
B2B Lead Roundtable
1. You will receive a link to the webinar recording. Please fill out the post‐webinar survey
2. View past and sign up for future webinarsB2BL dBl / bi• B2BLeadBlog.com/webinars
3. Join the B2B Lead Roundtable LinkedIn groupg p• B2BLeadBlog.com/Linkedin
4. Connect and share• B2BLeadBlog.com• Twitter @B2BLeadBlog
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Poll 1
Are you systematically testing the quality of your list data?
a) Testing everything strategicallyb) Testing some data sporadicallyb) Testing some data sporadicallyc) Starting to test some datad) Not currently testing but planning to soone) Testing is not a priority right now
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Poll 2
Are you tracking your leads from source to conclusion? Would you consider your lead management process to be a closed loop?y y g p p
a) Track all leads through entire sales processb) Track some leads or through most of the processb) Track some leads or through most of the processc) Starting/trying to track some leadsd) Not currently tracking but it’s on the priority liste) Not planning to track anytime soon
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Managing the Marketing‐to‐Sales Process
28% 19% 53%Have a process for handling leads back to nurturing Yes, doing now
39%
30%
23%
27%
38%
43%
Have a process for nurturing leads not sales‐ready
Closed‐loop tracking from source to conclusion No, but high priority
Back burner/not planned
44%
44%
25%
18%
31%
38%
Measure lead generation contribution to revenue
Have system for rating 'qualified' and 'warm leads
51%
45%
13%
20%
36%
35%
Use CRM system to manage lead process
Collaborate with sales to define sales‐ready leads
Source: MarketingSherpa B2B Marketing Benchmark Survey N=1147
0% 20% 40% 60% 80% 100%
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Fourteen weeks left in 2011
How can we maximize the resources we have to achieve our end‐of‐year goals within budget and time constraints?end of year goals within budget and time constraints?
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About MECLABS• More than 10 years of research• Over 1 billion emails• 1,300 major experiments• 10,000 sales‐paths tested• Hundreds of publications and conferences• 5 million phone calls• 500,000 conversations
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About Brian Carroll
Brian Carroll is Executive Director of Applied Research at MECLABS. Brian is also co‐founder of InTouch (now part of the MECLABS Leads Group), a B2B marketing firm and one of the first companies to provide lead generation services for the complex sale.
Author of the popular book Lead Generation for the Complex SaleAuthor of the popular book, Lead Generation for the Complex Sale (McGraw‐Hill), Carroll is a leading expert in lead generation and he's profiled and regularly quoted in numerous publications. Brian also speaks to 20,000 people a year on improving sales effectiveness and lead generation strategies
@brianjcarroll
lead generation strategies.
He’s been profiled and regularly quoted in numerous publications such as BtoB Magazine, Selling Power, The Wall Street Journal, Entrepreneur, Target Marketing, Inc. magazine, Marketing News, DM News, MarketingProfs, MarketingSherpa, Software CEO and CMO Magazine.
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About Dave Green
Dave Green is the Director of Best Practices at MECLABS.
He has over 25 years of experience in all aspects of lead generation and in channel marketing.
Clients have included Cisco, Microsoft, Qwest, PTC, Avaya, Symantec, Computer Associates, & Novell. Key accomplishments include designing for two of the largest software companies telesales operations that significantly exceeded first‐year quota by over 30 and 60 percent, respectively. Green also wrote the business plan and helped secure the
@davegreenleads
funding for a department focused on demand generation and global lead management for a Fortune 500 firm. Green then helped recruit the staff and select the vendors that drove over a billion dollars in pipeline in the first 20 months of operation.
In 2001 David teamed with Michael Saylor to co‐author The B2B Refinery®,a book about the value of organizational alignment to maximize ROI on go‐to‐market resources.
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About Pamela Markey
Pamela Markey is the Director of Marketing at MECLABS.
Pamela builds strategic partnerships, plans promotional initiatives, and is responsible for Applied Research communication‐ and marketing‐related activities. Her first role at MECLABS was developing MarketingExperiments case studies and Webclinics and she continues to support the Conversioncase studies and Webclinics, and she continues to support the Conversion and Leads group teams on special client research projects.
Before joining the team in June 2009, Pamela worked for seven years as a wireless marketing manager at Bell Canada, during which time she
@pamelamarkey
managed campaigns for the Solo Mobile and Bell Mobility brands.
Pamela’s work has been recognized at Cannes, the CLIOs, and the Canadian Marketing Awards among others. She started her career as a marketing intern at Microsoft while completing her Bachelor of Commerce degree atintern at Microsoft while completing her Bachelor of Commerce degree at Dalhousie University.
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Clarify channel message
Optimize list approachp pp
Re‐engage your base
Tune data streams
Time it right
Close the loop
B2BLeadBlog com/Part1
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Clarify channel message
Optimize list approachp pp
Mine your base
Tune data streams
Time it right
Close the loop
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Tune your data streams
Measure twice, cut once:• Which lists give you the most leads the fastest? g y• Which have the least disqualified leads? • Which lists have the most revenue potential? • Run efficiency reports that include• Run efficiency reports that include
• Every lead and its status • Which list source it is from• Every disqualified lead
Do you need to update your data now?C id th i f k t d C l l DM• Consider the economics of key accounts and C‐level DMs
• Approximately 670 hours of calling is required per 10,000 names, addresses and phone numbers – double hours to include email
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Identify a clear standard for a “clean” lead
Elements of data hygiene include:• Duplication of contacts, locations, accounts or p , ,
areas of interest• Missing data• Data that is not standardizedData that is not standardized
• An exact number of employees in some fields and a range in another
• There are ways of enhancing the data, both with external data appending (adding an SIC) and with internal data appending (scoring theand with internal data appending (scoring the buying probability of an account)
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Experiment: Background
Experiment ID: (Protected)Location: MECLABS Leads Group LibraryT t P t l N b TP1226
k d h l d d h d
Test Protocol Number: TP1226
Research Notes:
Background: A B2B eDiscovery technology and services provider had 25 list sources available. Data was assigned to sales reps as new list sources were attained without regard for list source performance.
Goal: To drive most efficient pipeline and revenue through teleprospecting
Primary research question: Which list will drive the most efficient lead y qgeneration?
Approach: Prioritize calling based on the quality and efficiency of the list sources Each source was called for 80 to 100 hours 15
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sources. Each source was called for 80 to 100 hours. 15
The client request
• Marketing campaign and media source driven lists
• Lists were prioritized chronologically
• Focus on testing a new gmedia source
Other possible reasons:Other possible reasons:• A lot of money was spent
on list/sponsorship• Client liked X event• Client liked X event• Gut feel
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Results: Average
List Source Leads Calls DM Contacts
Webcast 1/18/11 Registered 7 58 10Show‐6/16/2011 7 151 25Webcast 1/18/11 Registered & Attended 3 85 17Webcast 1/18/11 Registered & Attended 3 85 172010 Los Angeles 2 67 10Lead List 7.2 42 1550 163Document Review 1 43 6List 4/12/2011 2 87 8Prospects_Bay Area_CA 4 185 142011 New York 8 372 482011 New York 8 372 48Phase 2 list 5 245 28Event list 5.5.2011 2 112 15Google campaign 5‐4‐2011 1 62 32010 – Booth 9/23/10 3 267 18Show ‐ 5/20/2010 1 89 4Phase 1 list 4 416 24Phase 1 list 4 416 24Notes list 2010‐05‐24 7 753 62Expo and Conference 2010 5 570 53Annual meeting 2010‐11‐15 8 968 105Exchange list 2010‐05‐24 3 404 282010: webcast 7 972 94Webcast 2/10/11 3 454 44Webcast ‐ 2/10/11 3 454 44Sponsorship summer 2010 1 162 10One Master Append 2010‐06‐15 11 2259 132List 5‐5‐2011 1 278 31Final List 2010‐06‐24 1 578 40Total 139 11187 992
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Results: Average
List Source Leads Calls DM Contacts Contact % Calls/Lead Contact/
LeadWebcast 1/18/11 Registered 7 58 10 17% 8 1Show‐6/16/2011 7 151 25 17% 22 4Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 6Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 62010 Los Angeles 2 67 10 15% 34 5Lead List 7.2 42 1550 163 11% 37 4Document Review 1 43 6 14% 43 6List 4/12/2011 2 87 8 9% 44 4Prospects_Bay Area_CA 4 185 14 8% 46 42011 New York 8 372 48 13% 47 62011 New York 8 372 48 13% 47 6Phase 2 list 5 245 28 11% 49 6Event list 5.5.2011 2 112 15 13% 56 8Google campaign 5‐4‐2011 1 62 3 5% 62 32010 – Booth 9/23/10 3 267 18 7% 89 6Show ‐ 5/20/2010 1 89 4 4% 89 4Phase 1 list 4 416 24 6% 104 6Phase 1 list 4 416 24 6% 104 6Notes list 2010‐05‐24 7 753 62 8% 108 9Expo and Conference 2010 5 570 53 9% 114 11Annual meeting 2010‐11‐15 8 968 105 11% 121 13Exchange list 2010‐05‐24 3 404 28 7% 135 92010: webcast 7 972 94 10% 139 13Webcast 2/10/11 3 454 44 10% 151 15Webcast ‐ 2/10/11 3 454 44 10% 151 15Sponsorship summer 2010 1 162 10 6% 162 10One Master Append 2010‐06‐15 11 2259 132 6% 205 12List 5‐5‐2011 1 278 31 11% 278 31Final List 2010‐06‐24 1 578 40 7% 578 40Total 139 11187 992 9% 80 7
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Results: Average
List Source Leads Calls DM Contacts Contact % Calls/Lead Contact/
Lead Hours Calling Cost Cost/Lead
Webcast 1/18/11 Registered 7 58 10 17% 8 1 6 $ 348 $ 50 Show‐6/16/2011 7 151 25 17% 22 4 15 $ 906 $ 129 Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 6 9 $ 510 $ 170Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 6 9 $ 510 $ 170 2010 Los Angeles 2 67 10 15% 34 5 7 $ 402 $ 201 Lead List 7.2 42 1550 163 11% 37 4 155 $ 9,300 $ 221 Document Review 1 43 6 14% 43 6 4 $ 258 $ 258 List 4/12/2011 2 87 8 9% 44 4 9 $ 522 $ 261 Prospects_Bay Area_CA 4 185 14 8% 46 4 19 $ 1,110 $ 278 2011 New York 8 372 48 13% 47 6 37 $ 2 232 $ 2792011 New York 8 372 48 13% 47 6 37 $ 2,232 $ 279 Phase 2 list 5 245 28 11% 49 6 25 $ 1,470 $ 294 Event list 5.5.2011 2 112 15 13% 56 8 11 $ 672 $ 336 Google campaign 5‐4‐2011 1 62 3 5% 62 3 6 $ 372 $ 372 2010 – Booth 9/23/10 3 267 18 7% 89 6 27 $ 1,602 $ 534 Show ‐ 5/20/2010 1 89 4 4% 89 4 9 $ 534 $ 534 Phase 1 list 4 416 24 6% 104 6 42 $ 2 496 $ 624Phase 1 list 4 416 24 6% 104 6 42 $ 2,496 $ 624 Notes list 2010‐05‐24 7 753 62 8% 108 9 75 $ 4,518 $ 645 Expo and Conference 2010 5 570 53 9% 114 11 57 $ 3,420 $ 684 Annual meeting 2010‐11‐15 8 968 105 11% 121 13 97 $ 5,808 $ 726 Exchange list 2010‐05‐24 3 404 28 7% 135 9 40 $ 2,424 $ 808 2010: webcast 7 972 94 10% 139 13 97 $ 5,832 $ 833 Webcast 2/10/11 3 454 44 10% 151 15 45 $ 2 724 $ 908Webcast ‐ 2/10/11 3 454 44 10% 151 15 45 $ 2,724 $ 908 Sponsorship summer 2010 1 162 10 6% 162 10 16 $ 972 $ 972 One Master Append 2010‐06‐15 11 2259 132 6% 205 12 226 $ 13,554 $ 1,232 List 5‐5‐2011 1 278 31 11% 278 31 28 $ 1,668 $ 1,668 Final List 2010‐06‐24 1 578 40 7% 578 40 58 $ 3,468 $ 3,468 Total 139 11187 992 9% 80 7 1119 $ 67,122 $ 483
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Results: Worst Case
List Source Leads Calls DM Contacts Contact % Calls/Lead Contact/
Lead Hours Calling Cost Cost/Lead
2010 – Booth 9/23/10 3 267 18 7% 89 6 27 $ 1,602 $ 534 Show ‐ 5/20/2010 1 89 4 4% 89 4 9 $ 534 $ 534 Phase 1 list 4 416 24 6% 104 6 42 $ 2,496 $ 624 Notes list 2010‐05‐24 7 753 62 8% 108 9 75 $ 4,518 $ 645 Expo and Conference 2010 5 570 53 9% 114 11 57 $ 3,420 $ 684 Annual meeting 2010‐11‐15 8 968 105 11% 121 13 97 $ 5,808 $ 726 Exchange list 2010‐05‐24 3 404 28 7% 135 9 40 $ 2,424 $ 808 2010: webcast 7 972 94 10% 139 13 97 $ 5,832 $ 833 Webcast ‐ 2/10/11 3 454 44 10% 151 15 45 $ 2,724 $ 908 Sponsorship summer 2010 1 162 10 6% 162 10 16 $ 972 $ 972 One Master Append 2010‐06‐15 11 2259 132 6% 205 12 226 $ 13,554 $ 1,232 List 5‐5‐2011 1 278 31 11% 278 31 28 $ 1,668 $ 1,668 Final List 2010‐06‐24 1 578 40 7% 578 40 58 $ 3,468 $ 3,468 Total 55 8170 645 8% 149 12 817 $ 49,020 $ 891
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Results: Optimized approach
List Source Leads Calls DM Contacts Contact % Calls/Lead Contact/
Lead Hours Calling Cost Cost/LeadContacts LeadWebcast 1/18/11 Registered 7 58 10 17% 8 1 6 $ 348 $ 50 Show‐6/16/2011 7 151 25 17% 22 4 15 $ 906 $ 129 Webcast 1/18/11 Registered & Attended 3 85 17 20% 28 6 9 $ 510 $ 170 2010 Los Angeles 2 67 10 15% 34 5 7 $ 402 $ 201 Lead List 7.2 42 1550 163 11% 37 4 155 $ 9,300 $ 221 Document Review 1 43 6 14% 43 6 4 $ 258 $ 258 List 4/12/2011 2 87 8 9% 44 4 9 $ 522 $ 261 Prospects_Bay Area_CA 4 185 14 8% 46 4 19 $ 1,110 $ 278 2011 New York 8 372 48 13% 47 6 37 $ 2,232 $ 279 Phase 2 list 5 245 28 11% 49 6 25 $ 1,470 $ 294 Event list 5.5.2011 2 112 15 13% 56 8 11 $ 672 $ 336 Google campaign 5‐4‐2011 1 62 3 5% 62 3 6 $ 372 $ 372 Total 84 3017 347 12% 36 4 301.7 $ 18,102 $ 216
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Results
76% Decrease in calling cost per leadThe calling cost per lead would be decreased by 76%
Approach Calls/Lead Cost/Lead
W C $
The calling cost per lead would be decreased by 76%
Worst Case 149 $891
Average 80 $483
Optimized 36 $216
Difference 113 $675
What you need to understand: The overall calling cost per lead would! What you need to understand: The overall calling cost per lead would decrease by 76% if the calling team focused on the client’s most efficient lists.
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Beyond calling costs
• Among the least efficient lists for this client were the lists from a webcast and a sponsorship engagement
• Use this data to better understand your marketing return on investment and make better decisions on future marketing opportunities• Not just the cost to sponsor – also to execute the eventj p
• Look for patterns – what type of supplier/event/activity produces your best opportunity?
• Don’t forget about time What is the opportunity cost of your team callingDon t forget about time. What is the opportunity cost of your team calling an inefficient list?
List Source Leads Calls DM Contact % Calls/Lead Contact/ Hours Calling Cost Cost/Lead
Webcast ‐ 2/10/11 3 454 44 10% 151 15 45 $ 2,724 $ 908 Sponsorship summer 2010 1 162 10 6% 162 10 16 $ 972 $ 972
List Source Leads Calls Contacts Contact % Calls/Lead Lead Hours Calling Cost Cost/Lead
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The value of decision maker conversations
• Don’t discount the value of qualitative analysis
List Source DM Contacts
Webcast 1/18/11 Registered 10Show‐6/16/2011 25Webcast 1/18/11 Registered & Attended 17
• Pinpoint the WHY through success and failure• Is the value proposition resonating
Webcast 1/18/11 Registered & Attended 172010 Los Angeles 10Lead List 7.2 163Document Review 6List 4/12/2011 8Prospects_Bay Area_CA 142011 New York 48 p p g
with the decision maker?• What objections is the decision
maker bringing up?
2011 New York 48Phase 2 list 28Event list 5.5.2011 15Google campaign 5‐4‐2011 32010 – Booth 9/23/10 18Show ‐ 5/20/2010 4Phase 1 list 24 g g p
• Use this insight to brainstorm better content and tools for your team
• Use qualitative and quantitative to
Phase 1 list 24Notes list 2010‐05‐24 62Expo and Conference 2010 53Annual meeting 2010‐11‐15 105Exchange list 2010‐05‐24 282010: webcast 94Webcast 2/10/11 44 Use qualitative and quantitative to
develop a research framework to test your way to success
Webcast ‐ 2/10/11 44Sponsorship summer 2010 10One Master Append 2010‐06‐15 132List 5‐5‐2011 31Final List 2010‐06‐24 40Total 992
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Optimize your data: Keep it simple
• Which lists give you the most leads the fastest? • Which have the least disqualified leads? q• Have an intern or hire an overseas resource to spend a day calling 100
contacts. If more than five are inaccurate your lists needs work.• Make ongoing maintenance as part of day‐to‐day activity by inside salesMake ongoing maintenance as part of day to day activity by inside sales
teams or customer service.
Bad: A disqualified lead for every 20 calls
Average: A disqualified lead for every 50 calls
Better: A disqualified lead for every 100 calls
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Tips for list purchasing
• For teleprospecting, buy lists in 200‐ and 300‐contact increments and test them for efficiency, and then continue to invest based on outcomes• Buy 3 to 6 different lists
• Call at the same time• Use the same callerUse the same caller• Use the same call guide/messaging
• Direct mail and email will require a larger sample
• If it seems to good to be true: • Information may be missing, incorrect or misspelled• Cities, states, names, title may be missing or incorrect • There may not be any email addresses
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Tips for list purchasing
• Test which list supplier provides the best contacts – and keep getting new data to re‐test• Don’t use the same list that you’re using in the first quarter in the
fourth quarter, unless it's a key account list. • There is a difference between using the same source of names gfrom a list source versus calling the same people.
• Make sure the list contains email addresses. Top list providers don’t id d t l t ith t thconsider data complete without them.
• Keep the momentum going: Don’t give up!
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Clarify channel message
Optimize list approachp pp
Mine your base
Tune data streams
Time it right
Close the loop
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Time it right: The tipping point
• Consider the economics of following up• Be strategic with your most precious resource:g y p
• Many B2B and complex sale campaigns require a considerable time investment
• Critical high value resources required to follow up often make up aCritical high value resources required to follow up often make up a larger portion of your cost per lead than marketing initiatives
• The rule in B2B marketing is to always follow up with your ideal client• The rule in B2B marketing is to always follow up with your ideal client –but at what point should you move on to something else that could help close your year strong?
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Experiment: Background
Experiment ID: (Protected)Location: MECLABS Leads Group LibraryTest Protocol Number: TP1214
B k d A i d i l i i f d h
Test Protocol Number: TP1214
Research Notes:
Background: An industrial testing equipment manufacturer engaged the MECLABS Leads Group to follow up on leads generated through trade shows and a PPC campaign offering a free book.
Goal To nderstand hen to stop allin a teleprospe tin listGoal: To understand when to stop calling a teleprospecting list.
Primary research question: At which point does the value of sales‐ready leads from a calling campaign no longer outweigh the costs?
Approach: Record and analyze teleprospecting campaign data to discover the point of diminishing returns
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Experiment: Results
Days 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14Leads 412 57 14 4 11 12 8 10 6 5 1 2 2 3 10Percent 61.3% 8.5% 2.1% 0.6% 1.6% 1.8% 1.2% 1.5% 0.9% 0.7% 0.1% 0.3% 0.3% 0.4% 1.5%
Cumulative 412 469 483 487 498 510 518 528 534 539 540 542 544 547 557Cumulative % 61.3% 69.8% 71.9% 72.5% 74.1% 75.9% 77.1% 78.6% 79.5% 80.2% 80.4% 80.7% 81.0% 81.4% 82.9%
Days 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29L d 7 5 3 5 2 3 5 3 4 2 3 3 2 3 6Leads 7 5 3 5 2 3 5 3 4 2 3 3 2 3 6Percent 1.0% 0.7% 0.4% 0.7% 0.3% 0.4% 0.7% 0.4% 0.6% 0.3% 0.4% 0.4% 0.3% 0.4% 0.9%
Cumulative 564 569 572 577 579 582 587 590 594 596 599 602 604 607 613Cumulative % 83.9% 84.7% 85.1% 85.9% 86.2% 86.6% 87.4% 87.8% 88.4% 88.7% 89.1% 89.6% 89.9% 90.3% 91.2%
Days 31 34 36 37 38 39 40 42 44 46 47 48 49 51 53Days 31 34 36 37 38 39 40 42 44 46 47 48 49 51 53Leads 3 2 1 1 1 1 1 1 1 1 1 4 1 2 1Percent 0.4% 0.3% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.6% 0.1% 0.3% 0.1%
Cumulative 616 618 619 620 621 622 623 624 625 626 627 631 632 634 635Cumulative % 91.7% 92.0% 92.1% 92.3% 92.4% 92.6% 92.7% 92.9% 93.0% 93.2% 93.3% 93.9% 94.0% 94.3% 94.5%
Point of diminishing returns: Consider the value of a lead against your campaign cost to discover the point at which ROI is not longer favorable
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Experiment: Results
Analysis of the calling and lead generation data showed that 90% of successful leads were converted within 28 days of first contact
• 60% of conversions happened on the first day• Another 30% take place over the next month
• Conversions dropped off significantly after 28 daysConversions dropped off significantly after 28 days
Looking for a decision point:30 d i h i i i d• 30 days is when conversions stop increasing every day
• 15 days is the last point at which at least 1% of conversions occur• 9 days is where you reach 80% of conversions• 2 days is where you reach 70% of conversions
*The last conversion in this data set took place on 343rd day (672 total conversions) 32
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Experiment: Results
45015 days
300
350
40015 days
last point at which at least 1% of
conversions occur 30 days ds
150
200
250conversions
stop increasing every day
ales‐ready
lead
50
100
150
**
Sa
01 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44**
Campaign days33
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Experiment: Application
Apply this same approach to your own resource‐ and time‐intensive campaigns to determine your point of diminishing returns
Consider:Th t f th li t i t tt i th• The cost of the list or campaign to attain the leads plus the cost of following up with the leads against the value of the sales‐ready leadsleads
• The opportunity cost of your time and resources: What else could you be doing to drive results for year‐end?drive results for year‐end?
• As always – nurture unconverted leads
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Clarify channel message
Optimize list approachp pp
Mine your base
Tune data streams
Time it right
Close the loop
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Closing the loop
“Marketing closes the loop on every lead, tracking it from source to conclusion.”
39% 41%41%37%
20% 22%
San Francisco
Boston
Yes ‐ consistently Yes ‐ hit and miss Not currently
Boston
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Closing the loop
• Make sure you only give sales sales‐ready leads: Too many unqualified leads will result in no follow up
• Inside sales will likely have to take leads that are not qualified with the human touch
• Get sales leadership supportp pp• Define ICP/ULD and sales follow up and reporting obligations and then
iterate until it's working• Pilot the closed loop process with a small team and then scale itPilot the closed loop process with a small team and then scale it• Random sample surveys of customers to make sure sales follows up• Use teleprospecting team to qualify a small set of leads for inside sales as
a baseline and share with inside sales leadershipa baseline and share with inside sales leadership.
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Closing the loop
• Critical to keep the dialogue running between sales and marketing • Smaller teams can hold weekly calls from the marketing team to a y g
sales manager • Adding data to the sales force automation system
• Consider preparing a report for sales to show how lead generation and nurturing campaigns contributed to closed deals• Company had X number of interactions with a prospect along the leadCompany had X number of interactions with a prospect along the lead
generation/nurturing cycle before they became a customer
• Don’t overlook the importance of analyzing deals that fell throughDon t overlook the importance of analyzing deals that fell through• Qualified prospects who didn’t buy immediately can be placed back
into the lead nurturing pipeline38
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Closing the loop
Make it super simple for sales • Either it's a valid lead or it's not• The lead definition should be based on the ULD/ICP• If it's not a lead:
• Have 4 5 simple options• Have 4‐5 simple options• Inspect what you expect and have a process for resolving disputes
• Call recording is really helpful for your teleprospecting team
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Case Study: Background
Experiment ID: Aprimo IncLocation: MarketingSherpa LibraryT t P t l N b HOW31720
k d h f k f k
Test Protocol Number: HOW31720
Research Notes:
Background: The VP of corporate marketing of a marketing automation software and services provider wanted to improved the closed loop feedback from sales reps.
Goal: To get the most timely, detailed feedback from time‐pressed sales reps.
Primary research question: Which feedback methodology will result in y q gythe best closed‐loop process?
Approach: Automated surveys to reps40
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Case Study
• Jill Snyder, VP Corporate Marketing, Aprimo Inc., set up an automated email system to survey reps 24 hours after each of their scheduled appointments.
• Reps hate to type, so Snyder made the survey easy to fill out by just ticking buttons and including an open box for any other notes.
• Questions focus on • Sales lead quality• Purchase timingPurchase timing• Budget
• If the rep doesn’t answer a survey, the email system automatically generates an email 48 hours later to Snyder and the company CEOgenerates an email 48 hours later to Snyder and the company CEO.
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Case Study
• As a result, nearly 100% of surveys are filled out on time• The request has escalated to the CEO only a handful of timesq y• "Reps love doing it. They love offering their opinion. They know if they
answer it that they’re going to get more leads. They know that by telling me how well it went, it will determine what type of leads they will get in , yp y gthe future. Reps don’t like to prospect. If you can tell a rep, ‘I’ll do the prospecting for you,’ there’s nothing better."
• Try a low‐tech approach:• Have an assistant or intern call each rep at a prearranged time to get
feedback verballyfeedback verbally• Use downtime: Airport waiting time or late on Friday afternoon
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Closing the loop
Key success factors:• Make it easyy• Show the value for sales• Give sales control• Make it a competitive sport• Make it a competitive sport • Get the head of sales to support you • Use feedback to improve future leads
! While you have their attention use the opportunity! While you have their attention, use the opportunity to gather marketplace insights from your sales team
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Put the feedback to work
• What made the great lead great?
• Did it match/fit the Universal Lead Definition? • Should you revised your ULD?
• Review how the lead was attained• What approach does the lead generations specialist use? • Listen to the conversation recording• What triggered the decision maker to move forward?• How can you repeat that?y p
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Sample lead feedback survey
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Funnel Focus Next Steps
Watch the Part 1 of this Webinar:Clarify channel message
Optimize list approach
B2BLeadBlog.com/Part1 Re‐engage your base
Tune data streams
Time it rightTime it right
Close the loop
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Funnel Focus Next Steps
• Buy lists in smaller increments and test• Don’t discount the value of qualitative
Clarify channel message
Optimize list approach
qanalysis
• Use qualitative and quantitative to develop a research framework to test
Re‐engage your base
Tune data streams
Time it rightpyour way to success
• Make ongoing data quality maintenance as part of day‐to‐day activity
Time it right
Close the loop
p y y y
Bad: A disqualified lead for every 20 calls
A A di lifi d l d f 50 ll
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Average: A disqualified lead for every 50 calls
Better: A disqualified lead for every 100 calls
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Funnel Focus Next Steps
• Be strategic: remember time is money• Know when to move on by analyzing
Clarify channel message
Optimize list approach
y y gwhen most leads are converted
• Measure your ROI: • The cost of attaining the leads plus
Re‐engage your base
Tune data streams
Time it rightThe cost of attaining the leads plus the cost of following up vs. lead value
Time it right
Close the loop
WATCH: B2B Lead Roundtable webinar Research from Harvard and MIT on inbound
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lead contact, qualification and close ratesB2BLeadBlog.com/timing
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Funnel Focus Next Steps
• Close the loop on every lead – track from source to conclusion
Clarify channel message
Optimize list approach
• Pilot the closed‐loop process with a small sales team then scale
• Make it simple for sales: Try a survey
Re‐engage your base
Tune data streams
Time it rightp y y• Analyze deals that fell through
Time it right
Close the loop
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#b2blead
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B2B Lead Roundtable
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2. View past and sign up for future webinarsB2BL dBl / bi• B2BLeadBlog.com/webinars
3. Join the B2B Lead Roundtable LinkedIn groupg p• B2BLeadBlog.com/Linkedin
4. Connect and share• B2BLeadBlog.com• Twitter @B2BLeadBlog
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Thank You