Lead Qualification and Nurturing Tips
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In this webinar, we discuss: *Marketing and sales alignment *Lead Qualification using a blend of implicit and explicit factors *Prospect nurturing rules *Practical nurturing campaigns for any type of B2B organization
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Lead Qualification and Nurturing Tips
- 1. Lead Qualification (Scoring) and Nurturing Tips and Tricks Presented by: Derek Grant, SVP, Sales
- 2. Introduction I’m Derek Grant • I manage sales at Pardot • Motto: Be Brief, Be Brilliant and Be Gone
- 3. Lead Qualification (Scoring) Identify Exceptional Prospects
- 4. Does This Sound Familiar?
- 5. Should All Leads Go To Sales? • 80% of all leads never have a meaningful conversation with a sales professional -Forrester • Only 17% of leads convert to qualified opportunities -Bridge Group
- 6. The Grim Reality • A large number of assigned leads should have never crossed over to the Sales team • 70% of mishandled leads will buy from a competitor within 24 months
- 7. The Need for Objective Qualification Practical Steps • Define “Marketing Qualified Lead” (MQL) • Have a Service Level Agreement (SLA) • Measure and Improve Qualification Leads to: • Prompt follow up • Higher conversion rates • More closed deals
- 8. Traditional Lead Qualification Have You Tried? • BANT (Budget, Authority, Need, Timeline) • Explicit Qualification • Implicit, Activity-based Qualification • “Eyeball Approach”
- 9. Example of Implicit Qualification Activity Value Form / Landing Page Submission +50 Email Open 0 Email Link Click +3 Page View +1 Pricing Page View +25 Search +3 Opportunity Created +100
- 10. Interest v. Intent Interest (Researching) Intent (Buying) Views 25 Pages “Contact Me” Form Downloads Two Searches for Whitepapers Company Name Attends a Webinar Product Trial Exceptional Prospects
- 11. Finding the Right 20% Implicit – What they do Explicit – Who they are Implicit Explicit
- 12. Lead Nurturing Stay Top-of-Mind With Prospects
- 13. The ROI is Staggering • 9% higher average deal size • 23% shorter deal time The Value of Your DB • Each lead has a cost • Time erodes the value
- 14. Rule 1 – Know Your Audience Segments, Personas & Interest • No “One Size Fits All” content • Prospect v. Customer-Focused • Granular segmentation is key Rule: If the message “fits” everyone, it probably isn’t specific enough for anyone.
- 15. Rule 2 – Start With the End in Mind What’s Your Goal • Begin at the end • “Mission Statement” • Education • Green to MQL • Brand Building Example • Nurturing during a product trial should convert prospect to customer
- 16. Rule 3 – Know When to Stop & Start Start • Not Yet an MQL • Non-responsive to Sales Stop • How was “Success” defined? Transition • Start a more specific one
- 17. Rule 4 – Be Mindful of Timing Send at the right times • Suppress weekends or after hours • Send during business hours improve response rates Frequency • Stick to a cadence • Don’t be a nuisance
- 18. Rule 5 – Send Appropriate Content Go Green with Content • Multi-use content • Dust off old content • Blog Post Don’t get too specific too soon • Whitepapers = General, Broad • Webinars = Feature Specific • Case Studies = Pain points, ROI • Opportunities = Eliminate Risk
- 19. Rule 6 – Mix It (Content) Up
- 20. Rule 6 – Mix It (Content) Up
- 21. Examples of Nurturing Practical Campaigns For Any Organization
- 22. Educate Non-Sales Ready Leads Premise • Retain early stage leads as marketing assets • “Put the pebble in the shoe” Strategy • Heavy HTML from Marketing@ • Whitepapers, broad webinars Goal • Create an MQL
- 23. Recycle Dormant Leads So They Don’t Want to Talk • Recycle non-responsive leads • Automation can reclaim Strategy • Revert to broad content (Whitepapers, Webinars, etc…) If Successful Sales Engagement • From “Assigned User” & Light HTML If No Sales Engagement • Heavy HTML from Marketing@ Goal • A more responsive MQL
- 24. Stay Top of Mind Stay Top-of-Mind • Stay in touch • Non-responsive leads • Re-acquainting the prospect with key features Content • Light HTML from the sales rep Goal • Faking sincerity until re-engagement
- 25. Automate Trial Messaging Try it before you buy it… • Product trials • Consistent messages • Defined end point Content • From Marketing@ & Heavy HTML • “How To” videos, KB articles, ROI info • Align timing with trial timeline Goal • Convert from tire kicker to customer
- 26. Re-Engage after a Loss They Bought From Who??? • Nurture Closed / Lost Opportunities • Prospects using a competitive product Strategy • From “Assigned User” • Light HTML • Wait several months to start • Align timing with contract term Goal • Another chance to make a first impression
- 27. Do’s and Don’ts DO Do Do Don’t • Use segmentation & • “Nurture” your entire personas database • Start with the end in • Send “one size fits all” mind content • Be mindful of timing • Assume that newsletters • General to specific nurture • Know when to stop • Do it manually
- 28. Questions
- 29. Contact Information Pardot Derek Grant 950 East Paces Ferry Rd SVP of Sales Suite 3300 derek.grant@pardot.com Atlanta, Georgia 30326 @derekgrant 404.492.6848 877.3B2B.ROI www.pardot.com
Hinweis der Redaktion
- The Campaign – You execute a perfect campaign that drives a third party opt in list and Pay Per Click traffic to a landing page that offers a whitepaper to individuals who convert.The Results – The Whitepaper is downloaded by 500 individuals.The Leads – All of the 500 respondents who downloaded the whitepaper are passed to sales for immediate follow up.The Cost - $10,000.The Results – Sales gripes about the quality of these new leads, and notes an inability to contact the respondents.
- Should These Leads Have been Assigned to Sales?The Experts Agree - Marketing Sherpa and Forrester both estimate that 80% of all inbound leads (like the ones we just discussed) never have a meaningful conversation with a sales professional.Do Sales Reps Just Drop the Ball? - No. Sales often attempts to make contact with these leads (e.g., several call attempts and emails), however is unsuccessful.Low Hanging Fruit – Sales is judged on meeting their short term goals (Quotas), and it generally not interested in chatting with prospects who are going to close far into the future.Then What is the Problem? – Often these leads have been advanced to sales too quickly, without an objective level of qualification. Often these leads are too early in the buying process to respond favorably to a call from sales (Like Finding a Needle in a Haystack).
- In truth, a large number of the leads who were assigned should have never crossed the chasm into the Sales arm of the organization.Anecdotally – Whitepapers like the one we discussed in our Marketing Campaign are generally considered to be quite generic, meaning that the individual who downloaded that whitepaper is likely an early stage prospect who is attempting to educate him or herself.Sales Calls. The Prospect does not answer. But something else happens…Statistics indicate that nearly 70% of your mishandled leads (those who don’t speak with your Sales people) will buy from a competitor within 24 months.With proper qualification, the 80% of leads who statistically will be mishandled by Sales are retained by Marketing until they show “Buying Signals”
- Aligning Sales and Marketing - Best in Class companies know that both Sales and Marketing must get on the same page.A Mutual Definition of a “Lead” – agreed upon by Marketing and SalesService Level Agreement (SLA) - Sales commits to timely follow up and closes the loop on every Marketing Generated Lead, agrees to reject unqualified leads back to marketing for nurturingMeasure - Ongoing communication between both parties to evaluate progress toward goals and gaps in the processPrompt FollowUp – Forrester says 46% of marketers at firms with mature lead management processes have sales teams that follow up on more than 75% of marketing-generated leads.Higher Conversion Rates –Gartner says when greater integration is accomplished between marketing and sales, conversion rates for leads (defined as earning the designation as qualified and/or committed to the sales pipeline) can increase by as much as 50More closed deals – CSO Insights says -Companies with mature, defined lead generation and management practices have 7% higher sales win rate
- Many B2B Marketers do not have a definition of a Marketing Qualified Lead (MQL). Some examples:BANT – Budget, Authority, Need and Timeline – (EXPLICIT) - This is one of the most traditional models of lead qualification, however BANT is actually a model for Opportunity Qualification, not Lead Qualification. Furthermore - BANT is generally people-powered (e.g., Inside Sales Team)Explicit (e.g., Job Title, Company Size, etc…) – (EXPLICIT) - Many Marketers leverage a numeric scoring model based upon Explicit factors, to ensure that the lead fits the company’s “Ideal Customer Profile”Activity – (IMPLICIT) - Many Marketers leverage a subjective “Activity Based” model that advances prospects who have downloaded multiple whitepapers, attended a webinar, etc…Eyeball Approach – (SUBJECTIVE) - a member of marketing reviews and subjectively determines if the lead should go to Sales.
- Interest vs. IntentThese two concepts are quite different, however they can both be measured and utilized to qualify a lead:Interest (e.g., “Tire Kickers”)Examples of Interest - When a prospect:Views 25 pages on your websiteDownloads 2 whitepapersAttends a webinarTelling Statistic - Forrester estimates that 70% of the mis-handled leads that are erroneously passed to Sales purchase from a competitor within 24 months. These prospects show interest, but may not show intent to be contacted as part of a sales process.Intent (e.g., “Buyers”)Examples of Intent - When a prospect:Completes the “Contact Me” formSearches for your company by Name (Google) or directly enters your website URL – These show brand recognitionSigns up for a product trial / test driveFor people who show Interest rather than Intent – Nurturing is a key way to move these prospects down the funnel;
- Finding the right 20%Reaffirm the 80% Lead Loss statistic.A Blended Model – Identifying the truly “Sales Ready” leads might look something like this:Implicit – Did this prospect take key activities such as downloading multiple whitepapers, or the combination of downloading a whitepaper and attending an educational webinar?Explicit - Does this prospect have:A Buying Title (This is the “A” of BANT) – Is this person capable of making a buying decision (e.g., VP, Chief, Director or Manager)? The Right Department – Are they in the appropriate department to benefit from your solution?The Appropriate Company Size – Is the lead’s company able to afford or have the staff to benefit from your solution.Author’s Note - LinkedIn and Jigsaw can help determine these.