8_LeadNurturing_CV201 by Lauren Garcia

Start with a lead®

Inbound Lead Nurturing (CV201)

Inbound Lead Nurturing Professor: Brian Carroll, MECLABS, InTouch

Inbound Nurturing Case Study #1 Before Lead Nurturing

Results

 Generated more activity, but same result

 Closing the loop on every “sales ready” lead

 Marketing felt leads went into a “black hole” – No closed loop

 Majority early stage leads actively nurtured - Grew from 0% to 60%

  <2% lead-to-sale pipeline conversion rate

 Improved lead-to-sales opportunity rate – Grew from 4% to 12%

 Unable to consistently measure ROI

  200% more opportunities in sales pipeline

  Sales team didn’t pursue majority of leads   Lack of consensus – what is a “lead” anyway?

  Can better measure and prove ROI   Results achieved without significant budget increase

Brian Carroll, CEO InTouch and author of Lead Generation for the Complex Sale (McGraw-Hill 2006)

Inbound Nurturing Case Study #2 Before Lead Nurturing  No early stage leads actively nurtured  Only one contact engaged per company   2 touch points per contact  40% of contacts provide email addresses   21% lead to opportunity rate (sales pursuit after hand off)   4% lead to sale rate (sales converted from marketing leads

Results  88% of early stage leads actively nurtured (none before)  3+ contacts engaged per company (200% Increase)  8 touch points per contact (300% increase)   89% increase of lead-to-sales pipeline conversion rate   7% Lead to Sales Conversation Rate (75% increase)  Regular marketing pipeline analysis & sales reporting developed -closed loop feedback and conversion rates by stage.

Executing Inbound Lead Nurturing

Lead Nurturing Defined

•  Requires human touch via Teleprospecting •  Aided by tools that make it easy to:

Lead nurturing is a relevant and consistent dialog with viable potential customers, regardless of their timing to buy.

–  Make it easy to continue conversation –  Make appropriate offers based on behavior and engagement

•  Lead nurturing automation tools must support: –  Lower volume –  Ad hoc delivery –  Track all touch points (phone, email, online, in person)

•  Measure nurturing results such as: –  % depths of contacts in sphere of influence –  % of contacts that “opt-in” for nurturing –  % of contacts that become “sales ready” leads

Inbound Lead Generation

Qualify Your Leads/Inquiries

(4) Lead Qualification

Nurturing

(1) Search

•  •  •  •  •

Less is more Consolidate and centralize inquiry information Pick up the phone to qualify leads Clear “hand off” on every lead Measure “sales pursuit” on every lead

(5) Sales

(2) Landing Page

(3) Form Submit

Resource: “What’s a Lead? Improve ROI With a Better Lead Qualification Process” http://www.targetmarketingmag.com/story/story.bsp?sid=39121&var=story

Step 1: Ideal Customer Profile

Define Your Ideal Customer Profile •  Sweet spot – ideal fit •  Most common criteria:

Step 2: Your Universal Lead Definition •  Allow leads to be scored and prioritized •  Defines the degree of sales readiness •  Requires buy in from sales and marketing

–  Industry code –  Revenue –  Employee size –  Trigger events –  Sphere of influence Resource: “How to Precisely Define a "Lead" Before Marketing Begins” http://www.startwithalead.com/article.asp?ARTICLEID=283

Step 2: Your Universal Lead Definition

Spectrum for Sales Lead Readiness

Step 3: Lead Qualification

Inquiry Form – First Step

Hand off To Sales

Source: SiriusDecisions Lead Spectrum 2006 Lead Metrics Study (used with permission)

Step 3: Lead Qualification

Inquiry Form â&#x20AC;&#x201C; Second Step

Inquiry Form â&#x20AC;&#x201C; Thank You

Step 3: Lead Qualification

Automated Inquiry Email Response

Inquiry Email Response

Subject: Thank you for contacting InTouch

Subject: Follow Up on InTouch Services for Brooke Bower

Brooke,

Hi Brooke,

We have received your information request. A member of my team will contact you soon. During our normal business hours we will reply to all inquiries during the same day.

I received your message about needing more information on our lead nurturing services.

Until we speak, I encourage you take a look at InTouch's lead generation blog, http://blog.startwithalead.com. This provides an excellent insight into our philosophies regarding lead generation for the complex sale and is a tool we use to share best practices and latest trends in lead generation. Best regards, Brian J. Carroll CEO InTouch, Inc.

You have some specific needs that I want to make sure to address, so I suggest we have a brief chat over the phone. That way, we could have a quick conversation so I can learn more about your situation and address your needs specifically. Until we speak, I encourage you take a look at the award-winning InTouch lead generation blog, http://blog.startwithalead.com. This provides an excellent insight into our philosophies regarding lead generation for the complex sale and the blog is also a tool we use to share information about best practices or latest trends in lead generation. Best Regards, Mark Wicka

Step 3: Lead Qualification

Phone – The “Relevant Conversation” Develop Relationships •  •  •  •

Confirm information on inquiry form Ask for missing information from form Get permission to “opt-in” for nurturing Identify qualified leads

Step 4: Understand and Capture Your Audience

Your Database is the Hub

Step 4: Understand and Capture Your Audience

Whom Do You Nurture? (Viable) Who’s involved in the buying process?

How deep do you want to go?

Step 5: Message Development Be Relevant •  How do they work? •  What is their functional role? •  What are their anticipated needs? •  What are their priorities and challenges?

Step 5: Message Development

Message Map Based on Role (Relevant)

Step 6: Build Your Lead Nurturing Library •  Gather and filter relevant content based on message map –  Third party articles, relevant topics, research reports –  Vendor agnostic podcasts, webinars, blogs and case studies to position sales team as a “trusted advisor” –  Company specific white papers, success stories, webcasts

•  Lesson Learned: –  Reuse available content before creating new content –  Filter third party content for a nurturing “library” using free sources http://www.google.com/alerts Resource: "Thought leadership for Lead Nurturing" (content strategy) http://blog.startwithalead.com/weblog/2005/06/using_thought_l.html

Step 6: Build Your Lead Nurturing Library

Educational Marketing Tools

Step 6: Build Your Lead Nurturing Library

Google News Alerts for Third Party Content Technorati watch lists (www.technorati.com) Google news alerts (www.google.com/alerts) Yahoo! news alerts ( http://alerts.yahoo.com)

Resource: “Content Ideas for Lead Nurturing” http://blog.startwithalead.com/weblog/2007/08/content-ideas-1.html

Step 6: Build Your Lead Nurturing Library

Email Template Built on Third Party Content To: From: Subject:

Step 7: Develop Lead Nurturing Tracks

(Recipient) (Sender) Article on virtualization for executives

Hi Bill, I thought you might find this recent article on virtualization relevant. It provides a strategic overview that is written more for executives. â&#x20AC;&#x153;FAQ: Detangling virtualizationâ&#x20AC;? http://news.com.com/FAQ+Detangling+virtualization/2100-7339_3-6177447.html We've been helping a number of companies decide when exactly to use virtualization and how to avoid the "all my eggs in one basket" concern that this article brings up. Best Regards,

Step 7: Develop Lead Nurturing Tracks

Multi-track Lead Nurturing

Step 8: Executing Lead Nurturing

Tracking and Managing Your Leads

Tip: Crawl, Walk, Run

Thank you Brian Carroll CEO InTouch 651.255.7700 x640 Bcarroll@startwithalead.com Other lead generation resources: www.startwithalead.com www.leadgenerationbook.com http://blog.startwithalead.com http://www.linkedin.com/groupRegistration? gid=1941474