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Mass affluent lead gen and web based marketing for financial professionals
The Death of Cold Calling - A New Paradigm for Lead Generation
1. THE DEATH OF COLD CALLING - A NEW PARADIGM FOR LEAD
GENERATION
Presented by:
Kevin Miller – EVP Marketing/Sales – SalesFUSION
Session Audio Starts at 2PM EST
2. What we’ll cover today
• Cold Calling – Death versus evolution
• Lead generation in 2011 – Hijacking the digital conversation
• The statistical failure of cold calling
• Where do leads originate from in 2011 and beyond?
• Adapting sales and marketing to optimize the digital conversation
• The journey to lead to sales revenue management
• The changing view of telesales/inside sales
3. About SalesFUSION
• SaaS Marketing Application
• HQ – Atlanta, GA – Sales Offices in Philadelphia, PA
• Provide all b2b marketing functionality in a single app
• Focus on integrating Marketing and Sales (CRM)
• Only solution built on a CRM database
• Extensive global partner network
• 110 New clients in 2010
• Unique Client Services model
• Game-changing pricing structure
• 99% retention rate
• 90% of all new features added in 2010 – customer requests
5. A few assumptions
• Death versus evolution
• Telephone prospecting is still very important
• How, why and when we telephone prospect has changed
radically
Telesales and Cold calling has
been fired and replaced by the
internet…..but your company
many not know that yet…
“It is not the strongest of the species that survives, nor the most intelligent that
survives. It is the one that is the most adaptable to change.” Charles Darwin
6. The “If you don’t know this you live under a rock” statistics
Retail - The Pew Internet and American Life Project has just published the
results of a study on American's e-commerce habits. Among the findings: 58%
of Americans say they perform online research on the products and services
they're considering buying. That's up from 49% who performed online research
in 2004.
B2B - 93% of business-to-business customers research companies and products
online before making a purchase, according to MarketingSherpa
7. Lead Generation in 2011 and beyond
Demands a new paradigm for telesales…
• Many b2b buyers are engaged in a digital conversation with your company
• Most companies don’t know about this conversation
• By the time telesales speaks to a prospect, opinions about you are formed
• Successful companies learn ways to “Hijack the Digital Conversation”
• Do you trust the internet to sell for you?
• Conversation channels are fluid and changing and evolving monthly
8. RS
BE
M
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E
TH
Why is cold calling icky?
It fosters a culture of “taking”
• Cold calling is a practice of starting a b2b
relationship by Taking something from a prospect
without asking first
• Take their time
• Take their information
• Most people feel uncomfortable “taking”
something from someone.
Traditional lead generation/selling models foster an environment of “Taking”
•More calls – more appointments – more sales….or your fired.
•Leads to employee dissatisfaction, unattainable quotas, re-training costs for
new hires to replace those who have been fired or quit out of frustration
Consider the following sales people’s statistics:
• 44% of sales reps quit after 1 no
• 22% quit after 2
• 14% quit after 3
• 12% quit after 4 (total is 92%)
60% of customers say no at least 4 times
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9. RS
BE
M
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E
TH
Sales is a numbers game….right?
B2B Sales Rep = COGS
Calls 100 Calls • $50,000 base salary
• + Benefits
• Salary plus benefits = $65,000
• 100 Calls per day
• 5 Days per week
Appointments 2-3 Appointments • Avg. 42 Full weeks per year
.025 connect rate • 210 calling days
• 21000 calls
• 525 Connects
• 105 Sales
Sales .5 Sales
.005 close rate
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10. RS
BE
M
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E
TH
Sales is a numbers game….right?
B2B Sales Rep = COGS
• 21000 calls = $3.10 per call
Calls 100 Calls • 525 Connects = $123 per connect
• 105 Sales = $619 per sale
Assumptions
• Consistent 100 calls per day to new
Appointments 2-3 Appointments leads
.025 connect rate • Connect = telephone-based
meeting
• Sale = closed revenue
• Time to work deals?
Sales .5 Sales • Time for administrative work?
.005 close rate • Time in meetings?
• Are these numbers even realistic
for internal personnel?
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11. RS
BE
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TH
More sobering statistics
• It takes 8.4 dials to reach a person, and
2% of all calls results in a meeting.
Calls • If 30% of these first meetings convert
into opportunities and a sales person
closes 25% of these opportunities,
they will have to make 1,000 calls to
get 1 sale.
Appointments • If they are pounding the phones
making 50 cold calls per day, they can
get 1 winnable sale every 20 days.
• At this rate they can acquire 12.5 new
customers per year.
Sales
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12. Where do leads originate from in B2B - 2010
Base: 249 B2B marketers at companies with 50 or more
employees
(multiple responses accepted, does not include “other”)
13. More from Forrester – what are company’s top marketing/sales
challenges in 2010?
14. How are leading b2b sales/marketing teams
adapting?
Marketing’s Role
• Identify leads
• Generate leads
• Execute campaigns
• Pre-qualify leads
• Nurture leads
• Re-Market stale sales leads
Sales’ Role
• Complete lead qualification
• Present and propose solutions
• Propose pricing
• Execute contracts
• Close business
• Cross-sell
• Changing traditional roles
• Inside sales is no longer a sales function
• Skill-sets for inside sales are changing
• Marketing – ½ Focus on brand & ½ Focus on Upper Funnel Development
14
15. Beginning the journey to lead to sales revenue
management…
• Marketing – focus on upper-funnel
development using all available
channels, techniques and
communication mediums
• Telesales – triage, manage, respond
and advance inbound leads
• Sales – focus on closing business
15
16. Change the way you view telesales/inside sales
They are not phone jockeys anymore
Think air-traffic controller
• Monitor and direct lead traffic
• Exchange meaningful information
with the leads
• Direct leads to the right resources
• Educate leads about value
proposition and competitive
position
• Empowered with technology
• Higher job satisfaction
• Better growth potential
• They become a marketing and field
sales “Farm Team”
17. ESS
OC
PR
LES
SA
TO
AD
LE
11
20
What should an inside sales model look like?
Inbound Leads Process for
Inside Sales Telesales Duties
Telesales – Web visitor
monitoring CRM
Daily Monitor Log calls
Respond – 2-4 hours to Append data
known visitors Create Opportunities
Lead Capture Home Activity Log Pre-qualify
Enroll known visitors into 3-
Page Page step drip
CRM Identify other contacts
Accounts – research using Send task to sales
LinkedIn and Jigsaw– add 2
marketing contacts to Fusion
– enroll in 3-step drip
Simple process maps will help
focus the marketing and sales
Opportunity
Field Sales Duties teams on execution of the plan
Sign Up for Demo or self qualify
1. Email Alert to reps based on Geo
2. Rep – verifies company HQ location
3. Rep – updates CRM – creates oppt
4. Ensure contacts/account are linked
and de-duped
5. Append address, phone, vertical and
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lead Learn
18. 4 technologies inside sales needs to thrive
Website monitoring station
• View, identify, receive alerts of leads on the website
• Integrate with data services to research and append contacts
• View page-level activity from high-score leads
Email Marketing
• 1-touch enrollment in multi-step campaigns
• Follow up emails using trackable html email
• Bulk email capabilities to call lists
Data appending and social tools
• Research and import contacts from identified companies on the site
• 1-touch enroll net new contacts into first-touch campaigns
Campaign activity reports
• Access to daily/weekly/monthly campaign reports
• 1-click access to marketing history for leads
19. Website monitoring station
What is it?
Web visitor tracking is a newer type of web analytics that captures, alerts and routes
website leads based on rules.
20. Access to enroll leads in campaigns
Alerts Auto-enroll
Email alert – Based on Rules Automated Routing to
Alert telesales to view/open drip/trigger based nurture
in CRM marketing campaigns
21. Day in the life with Marketing Automation
Website monitoring
Research anonymous
visitors – append with
contacts – enroll in
campaigns
Pop email alert when
high-value activity occurs
– assign task for call
If no phone contact
made – enroll in trigger
campaign
Receive on-going alerts
when lead returns to
site/responds
22. Access to critical information
• Give telesales the tools to access info and take action
• This view allows for telesales to view activity and enroll leads in campaigns
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23. The importance of marketing automation tools
• Provides a mechanism for real-time lead monitoring
• Reduces lead response time
• Allows for enrollment in pre-defined trigger campaigns
• Increases touches in first 30-days following initial inquiry
• Allows for research and appending of data through sources such as
Jigsaw
• Alerting via email ensures leads are touched quickly
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24. Create a lead-centric culture
Establish a dialog between marketing/sales
•Regular meetings – rotate between pipeline-centric meetings to lead/demand
generation-centric meetings
•Understand sales-team issues with leads – volume, where they come from
•Brainstorm sessions about lead profiles, verticals, targets, messaging and hot
buttons
•Sales is the best source for “Why a lead buys” information
Create simple process maps
•Define on paper who does what, when and why
•Assign people by name to stages in a process map
Considerations
•Sales may be resistant to change or dis-interested in leads
•Old-School sales cultures must be changed
•CRM system tuning will be required
•Marketing technology MUST integrate seamlessly to CRM
•Reporting must be in place to track the process and hold constituents
accountable
25. How marketing automation supports this model
• Lead Scoring/Routing enables automated nurturing of leads
• Trigger-based email campaigns – prebuilt and tied to scores
• Lead scoring must be tuned, tested and agreed upon with sales
• Objective is to treat every suspect the same initially
• Eliminate lead leakage
• Target content based on behavior and demographics
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26. How important is this to your upper funnel success?
According to Aberdeen, who tracks the performance of “Best Practice” organizations
utilizing marketing automation tied to telesales….
• Inside sales achieves quote 11% more when marketing automation is deployed
• Lead conversions (to opportunities) increased by 7%
• Inside sales make an additional 7-9 connects per day
• Overall sales team quota achievement is higher by nearly 3%
• Company revenue is higher by over 3%
Why?
• For the same Reason Henry Ford was able to produce more cars for less
• Efficiency gains through automation
• Connects are more meaningful when data is made easily accessible
• Fewer (if any) leads fall through the cracks
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27. Questions?
• Participate in our DOCC Nurture Campaign
• Schedule a demonstration of SalesFUSION
• Learn more www.salesfusion.com
Core Features
• Enterprise b2b marketing
• Advanced email marketing
• Lead scoring
• CRM integration – Salesforce, Dynamics, Sugar, Saleslogix…
• Web visitor tracking
• Dialogs, forms, landing pages
• Social media marketing
• Event management
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