The Science of Marketing
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Marketers now have the ability to easily and precisely capture data, assign values to leads, and predict/drive revenue, all through the use of marketing automation.
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The Science of Marketing
- 1. The Science of Marketing Malcolm Friedberg www.demandgen.com DemandGen
- 2. Brave New World L E A D S www.demandgen.com
- 3. The customers buying process has evolved in our world of ubiquitous, instant, global communication Harvard Business Review Thomas Stewart, Editor August, 2006 www.demandgen.com
- 4. … but companies selling processes have for the most part stayed the same. L E A D S www.demandgen.com
- 5. Meet the NEW Marketing… and the NEW Tools. www.demandgen.com
- 6. NEW Marketing is Automation & Efficiency 1. Easily capturing Data 2. Qualifying Leads and auto-routing to Sales Reps 3. Scoring Leads to distinguish Low Hanging Fruit from Seedlings that need nurturing 4. Creating a nurturing path to convert prospects on their timeline 5. Automating personalized communications with timely and relevant information 6. Run your marketing operation from Maui with a Blackberry and a Mai Tai www.demandgen.com
- 7. Marketing s Challenge: The Gray Man Syndrome www.demandgen.com
- 8. Marketing Qualified Leads (MQL) www.demandgen.com
- 9. What s an MQL for YOU? • Meets the requirements of your target buyer • Shows interest in purchasing your solution • Has the authority to make a buying decision • Wants your solution within a reasonable timeframe • Has the budget to purchase www.demandgen.com
- 10. What MQL will do for you? www.demandgen.com
- 11. What are these New Marketing Tools? www.demandgen.com
- 12. Lead Capturing • Web Forms • Site Notices • Surveys • Trade Shows • Referrals • Call ins www.demandgen.com
- 13. Lead Scoring based on Digital Body Language www.demandgen.com
- 14. Lead Nurturing based on creating a Conversion Path www.demandgen.com
- 17. What Leads Should You Target? www.demandgen.com
- 18. Define 3-5 Criteria that make a Qualified Lead www.demandgen.com
- 19. Company X s Profile… • Level - Director and up • Role - Decision-maker or Influencer • Size - 2,500+ employees • Type - In one of twelve industries • Timeframe - Buying in the next 30 days www.demandgen.com
- 20. New Marketing Tool for Obtaining Qualification Data www.demandgen.com
- 23. Scoring: Qualified & Interested • Qualified – Score based on Qualification Data – Level, Role, Size, Type, Timeframe – How well does the prospect match your Criteria for a Qualified Lead? • Interested – Score based on Observing Behavior – Does your target act in such a way that suggests they are ready to buy? www.demandgen.com
- 24. In the physical world, sales can observe a lead s body language. www.demandgen.com
- 25. In the virtual world, how do we observe a lead s digital body language? www.demandgen.com
- 26. Scoring Digital Body Language • Website visits and how recently • # of visits • # of pages viewed • High value content viewed • When was last visit? • How many offers are they taking on the website? • Which offers are they taking? www.demandgen.com
- 29. Interest Scoring = Digital Body Language – BETTER SLIDE www.demandgen.com
- 30. Scoring Result – Is it an MQL? Qualified (Data): Company: ADP Name: Sheila Drenning Age: 27 Location: GA Title: Director, Biz Dev Company Size: 5,000+ Interested (Behavior): Website Visits: 3 Pages Viewed: 14 High-Value Visitor: Yes Watched Demo: Yes Free Trial Signup: Yes Responding to Nurture: Yes On Website Now: Yes Qualification Ranking: A Interest Level: Hot www.demandgen.com
- 31. Lead Scoring Implemented (1) Lead Qualification and (2) Interest Level www.demandgen.com
- 32. Lead Scoring ROI Before After Lead Scoring Lead Scoring Leads sent to sales Close ratio Revenue per deal TOTAL REVENUE Based on a Survey of 10 Customers doing Lead Scoring for 165 days (under 6 www.demandgen.com months)
- 33. Knowing how prospects have responded to marketing campaigns before the call is the single biggest factor in uncovering revenue opportunities for our inside sale team - Dir. of Marketing Operations, Google www.demandgen.com
- 34. Traditional (Limited) Role of Marketing in the Sales Process L D E E A A D L S S www.demandgen.com
- 37. The Life Cycle of Your Leads Within 24 months Source: Sirius Decisions from YOU or your www.demandgen.com competitor 37
- 38. You re leaving (3,4,5x) DEALS on the table. 100 6 2 Deals 20 (3) 11 lost Deals 14 Within 24 months Source: Sirius Decisions from you OR YOUR www.demandgen.com COMPETITOR 38
- 39. Why won t a MQL buy? www.demandgen.com
- 40. Timing? Lack of Information? Confidence? Bottom Line: Not ready to speak with Sales. Nurturing will… • Allow you to Re-Score existing prospects to sell on customer s timetable • Keep an open channel of communication • Reveal the benefits of your solution in Bite-Sized pieces • Obtain additional qualification and interest information • Keep your company/product top-of-mind www.demandgen.com
- 41. Nurturing Your Leads • Sales Nurture Extended • Trade Show Nurture Nurture • Post Event Nurture • Webinar Nurture www.demandgen.com
- 42. Lead Nurturing Results Generated 1500 additional responses More than 400 companies re-engaged Those same previously ignored leads turned out to be the best source of qualified opportunities. - VP Marketing, Voxify www.demandgen.com
- 43. How it all comes together… Profiling • Establishing and Collecting Qualification Data Scoring • Identifying MQLs for Sales based on QUALIFICATION and INTEREST level, and know if interest is growing or decaying • Re-Score during the nurturing process Nurturing • Building a path to conversion on the customer s timetable • Recapturing dead leads that are actual buyers • Educating the prospect about the benefits of your product • Monitoring activity & passing to Sales at the right time www.demandgen.com
- 44. Welcome to the NEW marketing. www.demandgen.com
- 45. Please Provide Feedback & Questions www.demandgen.com
- 46. Malcolm Friedberg Malcolm@DemandGen.com www.demandgen.com
- 47. • Leading Marketing Automation System • Tight integration with leading CRMs • 400+ customers / 200 employees • HQ in Toronto, offices North America, UK, Asia • Venture-backed • Consulting Partners Like DemandGen www.demandgen.com
- 48. The Root of the Problem… The Chasm between Sales & Marketing S: I want more leads. M: What about last month s? S: Most weren t any good. M: How do you know? S: Because my guys only closed 10% of them. www.demandgen.com