She Said, He Said: How Sales and Marketing Can Drive More Pipeline Together
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Sales and marketing may never see eye-to-eye when it comes to lead quality, but they can drive more pipeline by working together on the best practices and content for sales to engage prospects and customers more effectively. New software tools, like ToutApp, are helping with this process, while making it easier to drive Sales accountability and insights into what’s working. If you’re challenged with inconsistent outreach processes and content, or lack of visibility into how leads are managed, then view these slides to discover how you can help every rep perform at their best and boost your lead-to-opportunity conversion rates.
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She Said, He Said: How Sales and Marketing Can Drive More Pipeline Together
- 1. She Said, He Said: How Sales & Marketing Can Work Together Better and Drive More Pipeline Brian Glover Principal Product Marketing Manager @brianjglover Jessica Green Senior Director of Sales @jessica_c_green
- 2. There Are Different Types of Sales & Marketing Relationships
- 3. Sales & Marketing “Besties” Have Real Business Impact 19% Faster revenue growth (SiriusDecisions) 15% Higher profitability (SiriusDecisions) 10% More sales people on-quota (CSO Insights)
- 4. Work Together to Drive More Pipeline by: 1. Gaining more visibility into sales engagement activities 2. Driving better adoption of messaging in sales conversations 3. Enforcing best practices and SLAs for lead follow up 4. Having a productive conversation between Sales and Marketing
- 5. He Said... Sales is a Black Box And we don’t know how to help 1. Wasted Leads – lack of follow up, time to follow up and overall uncertainty into how leads are being managed 2. Messaging Isn’t Right – 86% of marketing content for sales goes unused (IDC) 3. Lack of Visibility – can’t improve lead to opportunity conversion rate without really knowing what’s happening with leads
- 6. She Said… Doing the Best With What We Have But we always want to improve 1. Complexity of Managing Leads – 6-7 touches to get meeting across different channels and with different messaging 2. Inconsistent Strategy – Each rep has to figure out what their outreach strategy is 3. Lack of Visibility– No insight into what is working and what isn’t Day 1 Day 2 Day 3 Day 7 Day 10 Day 1 Day 2 Day 4 Day 6 Day 1 Day 3 Day 6 Today
- 7. Marketing and Sales Alignment Best Practices
- 8. Orchestrate the right time to connect and number of touches through the right channels • Specific playbooks for lead sources • Continue to enhance/retire content #1 Create Dynamic Data-Driven Playbooks Day 1 Day 3 Day 7 Day 13 Day 16 Day 17 Day 21 and so on.. Technology - CTO
- 9. Human Personalization SalesComplexity Level of Personalization Enterprise Transactional Outbound Top Tier Strategic Accounts Automation Outbound Tier C Accounts Inbound Lead Tier B ‘Downloaded Analyst Report’ Inbound Lead Tier A ‘Request a Demo’ Outbound Lower Level Persona Inbound Lower Level Persona
- 10. #2 Drive Better Engagement With Correct Messaging & Content Content & Messaging • Measure impact of messaging • Collaborate to get the best content • Easily accessible EB EM AILEmail E-Book Battlecards
- 11. Sales Stages Prospecting Qualification Needs Analysis Proposal Negotiation Closed/ Won Sales Process Gates Internal & External Content BANT/ ANUM/ MEDDIC Inbound/ Outbound WYWYN Pre Discovery Post Meeting Follow up Summary No Show Confirmation of requirements Sequence of Events Initial pricing discussion Negotiation summary Intro email to AM/ CSM Sales Pitch Deck Demo Materials eBooks Info graphics/ videos/ blog Analyst Reports ROI calculator Product Data Sheet Action Plan Pricing Sheet Proposal RFP Onboarding/ Implementation Plan Welcome Kit Objections, Competitive, Deal Plays/ Strategy, Product Marketing, Case StudiesMessaging
- 12. Form your Pipeline Strategy Team #3 How to Have the Right Conversation Sample Agenda Meeting Dashboard Inbound Funnel vs. Outbound Funnel - Define responsibilities - Agree on/Discuss Key Initiatives - Review Changes in Metrics Dashboard - Review new programs and messaging
- 13. ToutApp Overview
- 14. Prospect Close ExpandAttract Create Awareness Hand Off to Sales Engage SALES ENGAGEMENT MARKETING ENGAGEMENT Succeed across the Entire Buyer Journey, Including the Last Mile
- 15. ToutApp – More Pipeline with Playbooks Guide sales with proven playbooks Take the right action • Research • Internal Sync • Outreach Use right channel of interaction • Email • Phone • Social • Direct Mail
- 16. ToutApp - Better Engagement with Relevant Content Right content for each interaction, integrated into reps’ workflow: • Personalized emails • Right messages • Relevant assets for each conversation
- 17. ToutApp - Better Visibility with Last- Mile Insights ** Enterprise Edition Only • Automate logging to track SLAs & improve rep productivity • Know which content is getting used • Learn where and how marketing is impacting revenue
- 18. Why Customers Choose Marketo ToutApp “Procore started using ToutApp with the BDR team and as they experienced success, the tool was naturally adopted by other departments” - Steve Zahm, President • Over 70% of Account Executives on quota with ToutApp • Decreased sales cycle length from 3-4 months to 40-50 days
- 19. Marketing and Sales Team-Up to Drive Pipeline that Converts with ToutApp • Better Accountability: timely lead follow-up • More Pipeline: better engagement • Greater Visibility: know what’s working—and isn’t
- 20. Establish a Pipeline Strategy Team Choose the Right Technology Measure and Optimize Tips for Success
- 21. QUESTIONS? (and don’t forget, you can always contact sales@marketo.com, or your Customer Success Manager, if you’re a Marketo customer)
- 22. Thank You! Brian Glover Principal Product Marketing Manager @brianjglover Jessica Green Senior Director of Sales @jessica_c_green
- 23. APPENDIX
- 25. MARKETO ENGAGEMENT PLATFORM ENGAGELEARNLISTEN MARKETO APPS PARTNER APPS AUTOMATION ANALYTICS ADAPTIVE (A.I.) CUSTOMER DATA & IDENTITIES ENGAGEMENT APPS ENGAGEMENT HUB
- 26. MARKETO ENGAGEMENT PLATFORM ENGAGELEARNLISTEN MARKETO APPS PARTNER APPS AUTOMATION ANALYTICS ADAPTIVE (A.I.) CUSTOMER DATA & IDENTITIES ENGAGEMENT APPS ENGAGEMENT HUB EMAIL WEB ADS MOBILE SOCIAL MARKETING AUTOMATION PREDICTIVE CONTENTABM SALES INTEL PLANNING EVENTS MARKETING ANALYTICS Tout App
Notas del editor
- Intro: Moderator
- Speaker: Brian Working for Marketo, I get to see a lot of different types of sales & marketing relationships Besties – strong collaboration, well-defined processes and recognize each’s contribution to pipeline and revenue Functional – working together, have processes in place, each doing their own thing with the occasional sneer And some relationships are just in need of immediate repair
- Speaker: Brian Getting aligned can be challenging, but it’s worth the effort. Sales & marketing besties not only enjoy working together, they have real business impact ahead of their peers Aligned organizations achieve up to 19% faster revenue growth – and 15% higher profitability than other companies. (SiriusDecisions) Plus, companies with “dynamic, adaptable sales and marketing processes” report an average of 10% more sales people on-quota compared to other companies (source: CSO Insights). So we know the investments we make in better sales & marketing alignment pay off. ------ Other stats B2B companies’ inability to align sales and marketing teams around the right processes and technologies costs 10% or more of revenue per year (source: IDC). Demand generation and sales training teams report the least alignment around asset/content development (34.6%) and analytics/metrics (31.8%), and the most alignment around conversion strategy (55.8%). (Corporate Visions, 2014) Only 8% of companies have strong alignment between their sales and marketing departments (source: Forrester Research).
- Speaker: Brian In today’s webinar, we’re going to talk about how sales and marketing can work together to drive MORE pipeline by: 1. Gaining more visibility into sales engagement activities, so you know what’s working and what isn’t 2. Driving better adoption of messaging in sales conversations, so each interaction is more effective 3. Enforcing best practices and SLAs for lead follow up, so each lead gets the right level of engagement at the right cadence 4. Having a productive conversation between Sales & Marketing, by using the right data, so you can make better decisions together Let’s start with a closer look at marketer’s perspective.
- Speaker: Brian As a marketer who has spent years driving products into the market Nothing can be more challenging than trying to understand what’s happening with the leads I’m working hard to create with my demand gen counterparts At the end of the day, I want to know what’s happening with these leads so I can help sales turn more leads into pipeline and revenue But it often feels like sales is a black box It seems like leads aren’t being follow up on, or sales tries once to connect and nothing afterwards And then, I get a glimpse into the occasional email or sit in on a sales call and the right messaging isn’t even used This adds up to a wasted opportunity in my opinion And, IDC has confirmed what I’ve always suspected – 86% of marketing content for sales goes unused. Ultimately, without visibility, there’s little I can do as a marketer to help sales improve the lead-to-opportunity conversion rate. But, being a good business partner, I’m always willing to listen to my sales counterparts, try and understand their challenges and see what I can do to help. So, I’m going to do that now and pass it to my colleague, Jess.
- Speaker: Jess In speaking with hundreds of sales and marketing leaders the vast majority have a deep desire to be aligned with their counter part. There individual success depends on the others success, after all! That being said, most teams don’t take the time to walk in each others shoes and truly understand their challenges. What’s interesting is that what they would find is a ton of common ground that they can tackle together. I can appreciate the marketing challenges that When following up with leads or driving outbound prospecting to build pipeline it takes a CONSISTENT and PERSISTENT touches to those people. Aside from multiple touches, there need to be multiple channels. To make the messaging compelling enough for a response you have to consider the persona, industry, previous interactions and lead source. That could make for hundreds of different tracks you need to follow up with leads and prospects in a given week - YIKES! Then let’s say you do find the perfect set of touches, channels for each of your leads, personas and target accounts. You put all of that into a training session and your team leaves with a binder with outreach guides and talk tracks. Well 80% of training is lost when they walk out that room and in my experience it takes a SUPER diligent rep to take action on prescriptive, multi-touch training consistently. The rest of the team are doing it inconsistently or not at all. Furthermore, I really have no way of measuring which of my reps are doing what or assess the messaging we created once it hits their field. That black hole that Brian talked about….I feel it too! I want to help my team improve conversion and build more outbound pipeline but I’m doing the best with what I have.
- Speaker: Jess Let’s talk about how to address these challenges on both sides of the house. After all we are all under 1 roof. Were going to go through 3 best practices that you can implement today. Our goal is you walk away today with action items From working with the most aligned teams.
- Speaker: Jess PLAYBOOKS: We’ve all thrown around the word playbook when it comes to sales! Sales leaders come into an organization with a playbook. What does it take to be a successful rep at Marketo? Reps leave training with a big binder with all of the best practices they could ever ask for. Why don’t they work? Not actionable Doesn’t always incorporate marketing collateral content. How do we make them better? They need to be specific – here is what you to for an inbound webinar lead from a CTO. Vs a outbound outreach to the fin serv vertical at the Data Scientist level. Sales and Marketing need to be aligned on messaging Why are specific, aligned playbooks important? Marketing needs SLA’s to be met so that momentum is not lost and the messaging used to follow up needs to be consistent with what got them to be a lead in the first place. Sales wants to convert as many of those leads into real pipeline as possible. ------- Step 1 is to sit down and map out how each lead should be followed up with and make sure you agree on the messaging. Don’t write it in a room by yourself – work together to find something that is both on brand and has the sales stamp of approval – OR they wont use it! When you are mapping out your approach for each lead you want to try to have a few common attributes of the people that you will use this on so it is as relevant as possible. For example, This track is for all leads in technology, who’s title is CTO and lead source is the most recent virtual webinar attendee list. You can tailor the customer stories, content and challenges to give this lead the best chance of converting. You are going to have a lot of different flavors of outreach approaches so our advice is to get in a room and use the good old fashion white board to map our the tracks.
- Speaker: Jess Map it out! On the two axis you are going to think about (1) the complexity of the sale - is it high velocity, high volume, low asp or long sales cycle, multiple buyers, high asp? (2) your communication strategy – do you know enough about these people to automate some of the outreach or is connecting with this person high enough of a priority to hyper personalize every touch of their outreach because they would be the game changer for the deal? Enterprise Sale -- Larger deals, more complex sales cycle With an average of 12 buyers in the sales process you can automate messaging to some of the fringe Top tier strategic accounts should be your ABS and ABM accounts You should be discussing the strategy for them at the pipeline meetings You can also tier your accounts and accounts with smaller value potential or less in your Ideal Customer Profile Transactional Sale/Inbound Inbound is a great place to leverage automation, especially when they came in because they downloaded content so you KNOW what interests them Inbound you often need persistent cadence to get them to convert Inbound demo request -- more qualified lead, hand raiser - I’d recommend hyper personalizing and starting with a call. It is not a one fits all approach. I think of it as a marketing mix for sales.
- Speaker: Jess Playbooks are often focused on building pipeline but once an account or lead enters the pipeline as an opportunity the conversation is far from over. Marketing may step away from the direct conversation as sales leans in but they still want to empower and influence that conversation. To do so, Marketing teams have invested a lot of time and resources into creating messaging, collateral and content to use throughout the buyer journey. So why isn’t sales using it to maintain the momentum and reinforce the sales conversations they are having? In our experience, there are a few friction points (1) they don’t always know how or when to use it, (2) they feel like the messaging sounds ‘too marketing’ and in some cases (3) they are using it but you just don’t have visibility! We recommend you start with addressing the HOW and the WHEN to use content/messaging you have Then you can talk about the messaging itself.
- And we’re back to the whiteboard! Our advice…map it out! Marketers are used to mapping content for the funnel. Now you are incorporating Sales stages into this exercise START BUILD: 1 You have a set of sales stages that map to your buyer journey across the top of your white board. 2 Down the left hand side you have the key gates/criteria that need to be addressed in that stage to progress the deal to the next stage. 3 Below that is where you start to call out the messaging and content that is already created to reinforce the reps conversations. At the beginning of the process you are uncovering a need the prospect did not know they had. Marketing has created eBooks, info graphics to help realize that need. When you get to a needs analysis or proposal you need to back up your value case with ROI. You have an ROI calculator or case studies for similar businesses. Where are you heavy? Light? Pro Tip – If there is an area you are light ask your top performers that messaging they use or the actions they take You want to have a simple visual for your reps at the end of this so they can hang it on their desk as a reference point and have a buyer journey map that is actionable for them!
- Speaker: Jess Make sure you have a representative from Sales leadership, marketing leadership, MOPS, SOPS. I have seen great things come out of these Pipeline Strategy Teams like a ’Message Review Board’ that includes top reps as well as leadership. Establish a cadence of meeting – consistency is key! The agenda should hold you accountable for each of your action items but also have time for consistent discussion around programs, messaging and metrics Agenda will morph over time from having discussions around defining responsibilities for inbound vs outbound to measuring effectiveness and either doubling down in an area or changing course. This is not a meeting to simply report out. It is a working session to get on the same page and take action to reinforce what is working or change course if you have lost your way. Inbound MQL and SAL trends MQL to SAL conversion SAL to SQL conversion rate Meetings scheduled, accepted and completed Revenue generated ASP Outbound Accounts touched Campaigns running and success metrics Meetings scheduled Revenue Generated ASP
- Speaker: Brian Now, I’ll show you how you can implement all the great best practices that Jess covered… Using ToutApp – the latest addition to the Marketo product family ToutApp helps sales teams perform better by giving marketing and sales a better way to collaborate and measure results Let me show you what I mean…
- Speaker: Brian For those not familiar with Marketo… Marketo personalizes marketing engagement across channels, and across the buyer journey And gives you all the analytics you need to measure and optimize marketing impact But when a lead is handed off to sales, that’s when the 1:1, human-to-human engagement begins And it’s often the point at which marketing steps back a little and sales takes the lead So how do you ensure you put your best foot forward to make it across this last mile? [CLICK] You do it with ToutApp ToutApp makes 1:1 sales engagement more effective by bring together best practices and process efficiency It ensures that the leaky funnel you solved with marketing automation doesn’t just move downstream So now marketing and sales can work together through the last mile to drive more pipeline and revenue. Plus, it’s an integrated application on the Marketo Engagement Platform, so it brings all of your engagement together in a single place.
- Speaker: Brian So how does ToutApp do this? First, ToutApp brings your sales playbooks to life and removes the burden and complexity of managing lead follow up It does this by guiding reps through a multi-step process for each lead that sales and marketing leaders define E.g. Day 1 email, day 2 call, and so on Now inbound and outbound reps know the right action to take – do some research, set up an internal meeting, or reach out to the prospect If it’s reaching out, Tout tells the rep which channel to use – Email, Phone, Social, Direct Mail and more Now think about all the leads one rep is in the process of following up on Tout gives each rep a list of daily tasks they need to accomplish So they have fast follow up and the right cadence of interactions Plus, Tout can automate many of those tasks, like sending an email
- Speaker: Brian Let’s talk more about content – have you ever wondered how to get all of your sales reps using the right messaging and content? ToutApp ensures reps use the right content for the right interaction. Traditional playbooks are all about how to GET the conversation started But what happens as deals progress through different stages? All of the content by sales stage that Jess discussed can be managed by ToutApp This is a great way for marketing & sales to collaborate on content that’s actually used by reps And ensure each rep isn’t left to create their own messaging – which can be inconsistent and a poor use of their time With ToutApp, reps can send personalized emails based on what you know about an individual And then further personalize each email before it goes out Plus, once content and playbooks are created, Tout can be accessed wherever your sales reps live, whether it’s in CRM, Outlook (for Mac or PC), or the browser.
- Speaker: Brian Finally, ToutApp gives you visibility with last-mile insights you can’t get anywhere else. Rather than scratch your head trying to figure out why your conversion metrics are go up and down, Now you know which reps and teams are fulfilling SLAs (and you have more comprehensive SLAs in place) You know which content is getting used, what’s working and what isn’t And you know what’s impacting revenue Now you have a way to drive better collaboration between sales and marketing, tune sales interactions for better engagement, and work together from the same source of truth… with leading indicators that give you a full picture of your last mile.
- Speaker: Jess
- Speaker: Jess Let’s bring it all together. We’ve been talking this whole time about having a better, more consistent conversation with sales and marketing leaders. Get on the same page with the data you are collecting and use technology to implement the outcomes of these discussions. ToutApp helps our customers: Better Accountability: See what’s happening with your leads and have a better way to hold sales accountable Higher Conversions: Give your reps real-time data that will increase their connect rates More Pipeline: Help sales implement a process for engaging prospects with the right cadence, messages and content that improves lead conversion rates Greater Visibility: Know what’s working and what isn’t, so you can partner with sales to drive better results and prove your impact on pipeline and revenue
- Speaker: Jess Start by gathering the right people and having the right conversation, consistently That will drive a strategy when it comes to delivering on pipeline. Choose the right technology to implement the strategies you have created. Technology will help you add to what you can measure so you shift this new-age playbook and strategies from paper binders to dynamic playbooks where your team is living! Proactive/leading indicators vs reactive lagging indicators
- Thank you for taking the time time to learn about Marketo’s latest innovations For more detail, check out our product documentation at the link on the screen And if you have product ideas or feedback, or if you’re interested in connecting with other customers on product topics of mutual interest, Please visit our product ideas page in the Marketing Nation community by going to the link at the bottom of the screen Or by clicking on Community in your Marketo instance and navigating to Product Ideas under the “How Can We Help?” menu Thank you and have a great day!
- Before we jump in… At Marketo, our mission is to help you Build Your Brand, Grow Revenue and Prove Impact And the key to this is building deeper relationships with your customers by engaging them in a highly personalized way across the entire buyer journey To truly create a 1:1 experience all the way across the buyer journey, and the customer lifecycle for that matter, you have to have Sales and Marketing aligned
- Customer data & identities -store what we learn from listening -take in all the activities from across channels and from internal systems (REST APIs) - OPEN -combine into rich profiles, resolve identities 3 engines Automation -trigger campaigns, orchestrate cross-channel experiences and execute other marketing workflows (e.g. sales alert) -let’s one marketer today do the work of an army of marketers 10 years ago Analytics -processes data from campaigns to give you performance metrics -also mashes this data up with your CRM data (or other source of purchase transactions) to attribute revenue to campaigns Adaptive engine -uses artificial intelligence + machine learning to match the right content with the right audience
- Marketo apps – 2 groups – channel & core apps Each application is made up of multiple modules
- Aligned organizations achieve up to 19% faster revenue growth – and 15% higher profitability than other companies. (SiriusDecisions, 2015) Companies with “dynamic, adaptable sales and marketing processes” report an average of 10% more sales people on-quota compared to other companies (source: CSO Insights). ------ B2B companies’ inability to align sales and marketing teams around the right processes and technologies costs 10% or more of revenue per year (source: IDC). Demand generation and sales training teams report the least alignment around asset/content development (34.6%) and analytics/metrics (31.8%), and the most alignment around conversion strategy (55.8%). (Corporate Visions, 2014) Only 8% of companies have strong alignment between their sales and marketing departments (source: Forrester Research).