Lean marketing master

Overview of the Course
About Noyes Limited:
*
• GU MBA
•Guerilla Tactics, LLC
• Startup Weekend
• Early stage consulting & advisory

Overview of the Course
The Course cover following topics:
*
• Pirate Metrics
• Lead Generation
• Growth
• Plan

Dave McClure
Master of 500 Hats
blog: http://500hats.typepad.com/
website: http://www.500hats.com/
slides: http://slideshare.net/dmc500hats/

Customer Lifecycle / Conversion Behavior
Website.com
Campaigns,
Contests
Emails &
widgets
Homepage /
Landing Page
Product
Features
Ads, Lead Gen, Biz Dev
Subscriptions, etc
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features

Customer Lifecycle: 5 Steps to
Success
• Acquisition: users come to the site from various channels
• Activation: users enjoy 1st visit: "happy" user experience
• Retention: users come back, visit site multiple times
• Referral: users like product enough to refer others
• Revenue: users conduct some monetization behavior
AARRR!

After this trash
(2) McClure, D. (2007), Startup Metrics for Pirates: AARRR

Website.com
Marketing Channels:
• largest-volume (#)
• lowest-cost ($)
• best-performing (%)
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains

Website.com
Activation Criteria:
• 10-30+ seconds
• 2-3+ page views
• 3-5+ clicks
• 1 key feature usage
Do LOTS of landing
page tests & A/B tests -
just make lots of dumb
guesses & iterate QUICK
Homepage /
Landing Page
Product
Features
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains

Website.com
Automated emails are simple & easy
retention feature
• lifecycle emails @ +3, +7, +30d
• status emails weekly/monthly
• event-based emails as they occur
Homepage /
Landing Page
Product
Features
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features

Website.com
Campaigns,
Contests
Only encourage users to
refer *after* they have
“happy” user experience;
avg score >= 8 out of 10
Homepage /
Landing Page
Product
Features
Emails &
widgets
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features

Website.com
Homepage /
Landing Page
Product
Features
Campaigns,
Contests
Subscriptions, etc
This is the part *you*
have to figure out…
I don’t know jack about
your business
Emails &
widgets
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features

Types of Metrics & Measurement
• Qualitative: Usability Testing / Session Monitoring
– Watch what users do, figure out problems & solutions from small # of users
• Quantitative: Traffic Analysis / User Engagement
– Report what users do, track usage & conversion %'s for all or empirical sample #
of users
• Comparative: A/B, Multivariate Testing
– Compare what users do in one scenario vs another, see which copy/graphics/UI
are most effective
• Competitive: Monitoring & Tracking Competitors
– Track competitor activity & compare against yours; if possible compare channels,
keyword traffic, demographic targeting, user satisfaction, etc.
(see slide notes for links to tools & vendors)

Quantitative & Comparative Measurement
• Conversion Criteria:
– best-performing (%) channels / campaigns / copy
– largest-volume (#) channels / campaigns / copy
– lowest-cost ($) channels / campaigns / copy

Example Conversion
Category User Status Conv % Est. Value
Acquisition Visit Site
(or landing page, or external widget)
100% $.01
Acquisition Doesn't Abandon
(views 2+ pages, stays 10+ sec, 2+ clicks)
70% $.05
Activation Happy 1st Visit
(views X pages, stays Y sec, Z clicks)
30% $.25
Activation Email/Blog/RSS/Widget Signup
(anything that could lead to repeat visit)
5% $1
Activation Acct Signup
(includes profile data)
2% $3
Retention Email Open / RSS view -> Clickthru 3% $2
Retention Repeat Visitor
(3+ visits in first 30 days)
2% $5
Referral Refer 1+ users who visit site 2% $3
Referral Refer 1+ users who activate 1% $10
Revenue User generates minimum revenue 2% $5
Revenue User generates break-even revenue 1% $25

Converting Marketing Leads
Section 2

Case Study
Website.com
Marketing Channels:
• largest-volume (#)
• lowest-cost ($)
• best-performing (%)
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains

Case Study
Website.com
Activation Criteria:
• 10-30+ seconds
• 2-3+ page views
• 3-5+ clicks
• 1 key feature usage
Do LOTS of landing
page tests & A/B tests -
just make lots of dumb
guesses & iterate QUICK
Homepage /
Landing Page
Product
Features
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains

Case Study
Website.com
Automated emails are simple & easy
retention feature
• lifecycle emails @ +3, +7, +30d
• status emails weekly/monthly
• event-based emails as they occur
Homepage /
Landing Page
Product
Features
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features

Case Study
Website.com
Campaigns,
Contests
Only encourage users to
refer *after* they have
“happy” user experience;
avg score >= 8 out of 10
Homepage /
Landing Page
Product
Features
Emails &
widgets
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features

Case Study
Website.com
Homepage /
Landing Page
Product
Features
Campaigns,
Contests
Subscriptions, etc
This is the part *you*
have to figure out…
I don’t know jack about
your business
Emails &
widgets
SEO
SEM
Apps &
Widgets
Affiliates
Email
PR Biz
Dev
Campaigns,
Contests
Direct,
Tel, TV
Social
Networks
Blogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features

Brand Awareness VS Lead Generation

Brand Awareness VS Lead Generation
• Brand Awareness
• Lead Generation

What is Lead Generation Marketing
Lead generation is getting people to “raise their
hands” and say they are interested in buying or
learning more about, your product or service.
Leads are people who have identified themselves as
candidates who can be turned into sales.

Product Mix
The Numbers
• 15% use only brand awareness
• 25% use only lead generation
• 60 % use both
• Halo effect

Successful Lead Generation
• Mathematics & Science
• Coordinated Tactics
• High ROI

Defining Your Leads
• What is a lead to me
• What action do you want
• Examples:
•E-commerce
•Software

AIDA Curve
Attention
Interest
Decision
Action

Attention
• Aware
• 3 Questions
• Why does this product exist?
• What is its purpose?
• What makes this interesting to me?
• Educate VS Sell
• Education Tools:
• Case studies
• Webinars
• Website

Interest
• Interested but unsure
• Questions
• Why should I use this product?
• Why is this different than similar solutions?
• How will this help me?
• Do other products accomplish the same
goal?
• Why should I use your solution
• Sell benefits not features
• Tools
• Well-written website
• White papers/Case studies
• Customer testimonies

The Decision Phase
• Decided they like product/service
• Questions
• Why should I buy your brand?
• What makes your brand better?
• Where can I get the best deal on this
product?
• Focus on quality or uniqueness
• Tools
• White papers
• Sell sheets
• Product comparisons
• Customer testimonials

Action Phase
•Make purchase
•Questions
• Why should I buy this
product/service right now
• Offer reason to buy now
•Tools
•Special offers

Developing Lead Strategy
• Tactical Strategy
• Integration Strategy
•Lead-Generation Management Strategy

Testing
• Continuously test and measure
• 10% of budget for testing
• Test against strategies
• Establish a baseline
• Primary tactics
• Secondary tactics

Using Lead-Generation Tactics
7 Most Successful Lead-Generation Tactics
Active Passive
Direct mail Trade shows
E-mail marketing Search engine marketing
Cold Calling Social Media Advertising
Display advertising

Multi Channel Lead Generation
37

5 Steps of Tactical Strategy
1. Determine & plan approach
2. Research target audience
3. Build your assets
4. Execute test campaign
5. Measure

Search Engine Marketing
• Search Engine Marketing
• Cost effective
• Accountable
• Scalable
• Customizable
• Search Engine Optimization

Overview
• Google & Bing
• Getting Started
• Plan your campaign
• Target customer
• Key words
• Designing your ad
• Text
• Headline- 25 characters
• Description Lines-70 characters
• Display URL
• Destination URL
• Image

Overview
• Campaign Parameters
• Schedule-dayparting
• Geographic targeting
• Budget
• Test
•One week
• High budget
•Data collection
• Number of clicks
• Number of impressions
• Average CTR
• Average CPC
• Total cost
• Average Ad Position
•Test Schedule

Social Media Advertising
Part 1 – Facebook & LinkedIN
1. Research & define your target audience
1. Location
2. Demographics
3. Subcategories
2. Create your ad
1. Title
2. Body
3. Image
4. Destination URL
3. Set up your campaign
1. Bid
2. Budget
3. Schedule
4. Test
1. Against other ads
2. Target demographics
3. Schedule

Display Advertising
• Display ads
• Evolution to lead-generation
• Internet Advertising Bureau (IAB)
• www.iab.net

Display Advertising
5 Steps
1. Research target websites
1. Determine demographics
2. Make list of frequented sites
3. Site Media kit
1. Site profile
2. Audience
3. Specifications
4. Advertising rates
4. Site Details
1. Home page
2. Current display ads
3. Pricing structure

Display Advertising
2. Choose your approach
1. High vs low-traffic sites
2. Work directly with site
3. Work with content networks
4. Work with ad networks that offer ad-server
tools
3. Create your ad
1. Ad placement
2. Ad style
3. Ad size
4. File size
5. File type

Display Advertising
4. Deploy your campaign
1. High vs low-traffic deployment
2. Ad network
3. Hard copy
5. Test your campaign
1. Test against other ads
2. Content sites and your audience
3. Test your budget

Targeting a Mailing or Contact List
Focus: List-based lead-generation marketing tactics
• Direct mail
• E-mail
• Cold calling
Defining your target audience
• Crucial step
• Example:
• Pet owners
• Cat owners
• Purebred Siamese owners
Psychographic Targeting & Geo-Targeting
• Buying behavior
• Location

Buying a list
• Less expensive
• Less accurate
• No relationship
Renting a list
• More expensive
• More accurate
• Relationship based
Negotiating Price
• Average Price
• B2C range from $20-$100 CPM
• B2B range from $80-$1,000 CPM
• Negotiate CPM
• Buying in bulk

Choosing a reliable list owner
• Zoominfo
• Hoovers
• Sample list
• Cooperation
The make good
• Written policy
• Out of date
• Non-performance
• Refund or a credit

Email Marketing
• Spam vs e-mail marketing
• CAN-SPAM Act
• Clearly id yourself & company
• Provide physical address
• Easy opt-out option
• No longer send email to opt-outs

Email Marketing
The 5 Steps of E-Mail Marketing Campaigns
1. Define your target audience
2. Select & Target Your List
1. Rent or Buy
3. Design Your Creatives
1. E-mail & Landing Page
2. eMarketer & Marketing Sherpa
3. HTML vs Plain Text

Email Marketing
3. Continued
5. Text vs Graphic
6. Your Brand
7. Call-to-action
8. Subject header
9. From line
10. Deployment

Email Marketing
1. Identify your test audience
2. Test budget
3. Test email creatives
4. Test schedule
5. Measure Results
1. CPA
2. Open rates
3. CTR

Direct Mail
• Is Direct Mail Dead
• 81% read or scan
• Expensive
• Good for
• Long decision processes
• Complicated products/services
• Presenting several details at once
• Products that do well

Direct Mail
5 Steps to Direct Mail Campaigns
2. Select and target your list
1. Rent or Buy
3. Design your creatives
1. Postcard
2. Flyers
3. Sales letter
4. Brochure
5. Dimensional Mailer
6. Creativity is an asset
7. Pesonalization

Direct Mail
5 Steps to Direct Mail Campaigns
1. Hardest tactic to test
2. Delivery rate
3. Open rate
4. Test market
5. Measure your results
1. Conversion rate
2. CPA
3. CPS
4. Analyze

Cold Calling
5 Steps to Cold Calling Campaigns
• Intro
2. Select & target you list
1. Purchase list
2. Improving your list
1. LinkedIN
2. Xobni.com
3. Crediting your list

Cold Calling
3. Design your creatives
1. Introduce yourself
2. Describe company/purpose
3. Why is it relevant
4. Give Value Proposition
5. Call-to-Action

Cold Calling
4. Test & execute your campaign
1. Rehearse/role play
2. Test & Refine
3. Voice Mail
4. Qualify
5. Converting to lead
5. Measure results
1. CPA
2. CPC

Trade Shows
• Intro
• To Show or Not
• Meet my target audience
• Effectively market product
• Actionable leads
• Reasonable ROMI
• Picking the right show

Trade Shows
• Participating in Tradeshows
1. Setup tradeshow booth
2. Provide sponsorship
3. Participate in speaking opportunities
• Booths from the ground up
1. Size/location
a) Booth space
b) Booth size
c) Booth location

Trade Shows
2. Design
a) Turnkey
b) Pre-made
c) Custom made
3. Marketing material
a) Displays
b) Tchotchkes
c) People
4. Capturing leads

Integrated Lead-Generation Marketing
• Integrated Lead-Generation
• Benefits of integration
• Brand marketing
• Synchronizing your goals
• The Halo Effect
• Conclusion

Growth Hacking
What is Growth Hacking

Growth Hacking
What is Growth Hacking
• Airbnb Case Study
• Spare rooms into hotels
• Network effects
• Post on Craigslist
• Reverse engineer
• Creativity & ability

Ideation Session
The Growth Hacking Process
• The Challenge

Step 1: Buyer Persona-
Who buys and why?
• Who are your Customers?
–Economic Users – writes the check
–End Users – will be the actual user of your product
–Technology Users – mostly concerned with the specs
• * Need to position your product and sell to all 3! (not just
to the economic users)
70

Step 1: Buyer Persona-
Who buys and why?
• Each Buyer Persona views your product differently
–Economic Users – what’s the price/value of your
product to the business?
–End Users – why is your product easier to use and
improves their productivity (need to overcome
resistance to change!)
–Technology Users – is your product easy and cheap
to install and maintain?
71

Steps towards a purchase
• Any buyer broadly moves through 5
stages of purchase, they are:
1. Inquire- Is there a solution to my
problem or needs?
2. Learn- How does your solution
solve my problem or needs?
3. Evaluate- Do I like your solution
(and is it better than others)?
4. Justify- Do I want your solution
over others?
5. Select- I am buying your
solution
STAGES ACTIONS
Inquire Look Out
Learn Read and
Understand
72
Evaluate
Compare
alternatives
Justify Analyse
Select Decision
Making

Write the personas:
• There are different ways to write personas. Here is one of them:
–Profile Overview: Brief description of the persona, age, literacy,
financial, age, attributes.
–Pain Points: What are their worry or what they want a change?
Write in their voice
–Key drivers / motivators: There are issues that mean the most for
the person. I want to…. I need to…..
–Role in buying committee: Decision maker? Influencer?
–Effective influences: What influences the person in the context of
the problem/ need. What allows you to communicate persuasively
with the person
73

Case Study
Persona Snapshot
77
Overview 30-50 year old male, middle class, highly
independent, likes to stand out.
Pain Points Quality beard products not readily available
Key Driver Beard is distinct part of personality. I need products
that make me look good.
Role in Buy B2C: Decision Maker
Influences Primarily independent but influenced by other
bearded men, especially at competitions

Activity: Create Persona
• Using Personal Development document create persona
for your business. It should include different types of
buyer persona.
78

Step 2: Product Positioning &
Messaging
• Once you have designed buyer persona, you can create Buyer’s
Stage table. This helps you in creating different message based on
prospects buying stage. This table will help you to understand value
proposition at each stage and the preferred marketing medium
79

Tips for good positioning message
• Differentiate your product from competition
• Address customer’s buying criteria
• Articulate key characteristics
• Taking your positioning to the next level requires:
–Establishing one to one connection. End of the day
business is B2I (business to individual)!
–Start with “why”? Reaching out to buyer at emotional
level is far more effective than taking it to pragmatic
level
–Use Personal tone. Connect them in your message at
a personal level
81

Case Study
Buyer Stage Statement Snapshot
82
Inquire Learn Evaluate Justify Select
New User Do these
products
exist?
They exist
and there are
a few
options.
Do I need the
best or
cheapest?
If I am going
to do this I
should be the
best.
I’ve got to
have the
best.
Beardsman Where can I
find these
products?
There are a
few options.
How much do
I want to
spend?
This is who I
am. I need
the best.
I’ve got to
have the
best.
Gift Where can I
find a gift for
husband/boyf
riend
Several
options.
What would
make the
best gift?
It’s a one
time gift.
Might as well
spend the $.
Beardbrand

Activity: Write your positioning
statement
83

Step 3: Lead Generation
• Before we move forward, we need to understand what is a lead.
Lead is a prospective customer who is interested In the product.
• Prospects = Individuals/Companies which fit your Buyer
Personas descriptions. The intention is to convert prospects in to
leads through marketing channels.
• How do you reach them? (based on an understanding of your
target customers’ lifestyle and work habits) – these are your
potential marketing channels
• For each marketing channel, how many of your prospects can be
reached? At what cost?
84

Marketing Channel
• Goals of Marketing
–Brand Awareness
–Leads Generation
• Your goal is to communicate branding while generating leads (due
to limited resources)
• Branding
–Based on your Distinctive Competence (or Unique Selling
Proposition)
–Brand = Brand Attributes built in the mind of your end customers
–Brand awareness marketing efforts aim to deepen Brand
Associations between your Brand and the attributes you want to
associate to your brand
85

Steps to generate leads
• Step 1: Compute your Leads Requirement
–Establish the following:
•Your revenue target
•Lead to Customer Conversion rate
•Visitor to Lead Conversion rate
•% of sales and marketing generated lead
86

• Step 2: Create your strategy
–Come up with a strategy that will unify all sales and
marketing efforts (i.e., how marketing will get leads,
with what message, and how sales will convert them)
–Explore strategy to generate free leads
87

• Step 3: Layout the Marketing Campaign Plan
–Select channels to use. Ideal channels are those that reach the
most prospects at the least cost (preferably free!)
– Estimate number of leads that can potentially be acquired from
each channel
– Total of estimated number of leads from all channels must equal
your leads requirement
–Agree with the sales team on the plan
88

Products Channels Execution Date Leads Target Budgeted Expenses Target Cost per lead
89
A B B/A
Sum of A Sum of B Sum of B/ A
Marketing Campaign Plan:

Case Study
Marketing Campaign Snapshot
90
Product Channels Ex. Date Lead Target Budgeted
Expense
Target Cost
per lead
Beard oil Webstore 1/2013 10,000 1,000 .10
Grooming Kit Webstore 1/2013 5,000 1,000 .20
Apparel Events 3/2013 200 500 2.5
Total 15,200 2,500 2.80

Case Study
Product
s
Channel
s
Actual
Leads
Generate
d
Actual
Cost of
Lead
Generatio
n
Number
of sales
closure
Actual
Cost
per
lead
Actual
cost per
conversio
n
Sales
Conversi
on %
A B C B/A B/C C/B
Beard oil Webstore 200 1,000 75 $5 $13.35 .75%
Grooming
Kit
Webstore 50 1,000 10 $20 $100 .1%
Apparel Events 125 500 50 $10 $10 .1%
91
Performance

Activity: Marketing Campaign plan
•Develop a Marketing Campaign Plan and create
system to measure performance of each
channels
92

Step 4: Lead Management
• Sales consideration- A lead is someone who is ready to
talk now and fund the purchase
•Marketing consideration- Anyone who is a “hand raiser”
• Hence it is important to have Lead Management System
that unified understanding between these two
professionals
• It encompasses a set of integrated, unified processes
and systems for funneling prospects through a process
with scoring and nurturing
93

CRM

Demand Funnel
95
Defining the stages gives you the foundation for
segmentation, scoring, routing, nurturing, reporting and
creates the common language between sales and marketing

Demand Funnel
• An effective demand funnel includes:
–Agreed-upon stage definitions and a taxonomy
–Defined stage ownership and triggers for conversion
between
–stages
–Service level agreements (SLAs) for each stage
–Marketing automation and customer relationship
management
–Systems to support the funnel model and processes
–Forecasts and measurements for the quantities of each
–Stage and the conversion percentages between stages
96

Definition of stages
• Suspect— A potential buyer in the total available
market for the product or service.
• Inquiry—A raw response or hand-raiser.
• Marketing-Qualified Lead—An inquiry that meets
minimum fit criteria (qualification and interest) as jointly
defined by sales and marketing and is ready for sales
engagement.
• Sales-Accepted Lead—A lead that has been formally
accepted by sales, which must work the lead within a
given timeframe to determine if a qualified opportunity
exists.
• Sales-Qualified Lead—Sales has confirmed that a
viable opportunity exists and has committed it to the
pipeline with an estimated dollar value and timeframe
to close.
• Customer—An opportunity that has come to fruition.
Referred to
as Marketing
Funnel
Referred to
as Sales
Pipeline
97

Believe in recycling your pipeline
When a prospect doesn’t respond or doesn’t have a
budget, or some other roadblock crops up somewhere
down the funnel before being converted to opportunity,
Cold Lead them. These Cold Lead can be used for further
nurturing with the goal of reengagement at a later time.
98

Goals of Lead Management
• Quantity- How many leads are in each stage?
• Velocity- How long are these leads sitting at a particular
stage? How long does the conversion takes?
• Predictability- What is the number of leads that has
moved each stage? Predictability of close won at the
higher stage of the funnel?
99

Sales Pipeline Management
• Once Sales accepted the leads, after qualification it is
changed to an opportunity.
• Each of these opportunities are measured how close
they are to sales closure.
• Organization may use Iron, Bronze, Silver, Gold to
classify each stage.
• Sales takes over the leads and monitors them from now
on.
100

Sales Pipeline Classification
• Iron- Sales person explains opportunity about the goods/ services
• Bronze- Second level interaction between sales staff and
opportunity. This discussion is more detailed and in depth.
• Silver- Expression of interest by the opportunity. Willing to discuss
about pricing
• Gold- Organisation sends quotation and discusses pricing with the
opportunity
• Closed Won- Opportunity changed to a customer. A sales closure
where customer paid and purchase goods/ services
• Closed Lost- At any given stage if the opportunity do not wish to
progress towards, change the opportunity to Closed Lost. Update
reasons to perform Win/Loss Analysis
101

Case Study
Lead Management Process Snapshot
102
Category Action
Beard-Curious Follows link from FB ad or Blog post
Beard-Interested Spends 1-3 minutes on website or views
About pages
Beard –Serious Puts item in cart
Beard-Customer Completes purchase
Beard-Abandoned Left website or abandoned cart

Activity- Lead management process
• Develop a lead management process for the company
103

Step 5: Lead Scoring
• Lead scoring is the process of assigning a ranking to
sales prospects based on an understanding of the
prospects’ interests and buying intentions.
104

Lead Scoring
• It’s not a predictor of who will close or who will buy.
• It’s not a forecast.
• Rather, it provides a prioritized, inbound to-do list for the
sales rep and a way to systematically status leads from
inquiry to marketing qualified
105

Lead Scoring Model
• There are many scoring models, however this section
limits to Two Dimensional Scoring Model.
• The two dimensions are:
–Interest scoring—Use behavior to gauge a
prospect’s interest and suitability.
–Qualification scoring—Conversely, in this model,
we ignore behavior and focus solely on “fit”—the
characteristics/attributes of the prospect.
106

Two Dimensional Scoring Model
• Qualification scoring though subjective analysis that’s informed by
the judgment and experience of your task force. Ask your
salespeople to describe the ideal customer. What are the attributes
that make up the total profile?
• Interest is the other dimension of lead scoring. Someone may meet
the qualifications established for a lead, but if they don’t show any
buyer interest, the lead score is lower
• Sales and Marketing staffs should jointly agree on the attributes to
score qualification and interest
• Once we have the qualification and interest model, we must develop
a scoring formula that combines these two dimensions into a very
simple rating system
107

108
Level of Fitment in
the purchase of
the product
Level of interest to
make the purchase

Establish an agreement between sales and marketing team that A, B, or C lead
is a marketing-qualified lead (MQL) while D and E leads are merely inquiries (in
109
our Demand Funnel)

Service Level Agreement
• At this stage we need to have following SLA:
–Time period permissible for Sales to take over leads
from Marketing and change them to Opportunity e.g.
48 Hours
–Time period permissible for Sales to keep any
opportunity at a particular stage (Iron, Bronze, Silver
or Gold) e.g. less than 2 weeks
–Establish Criteria for Closed Lost and Cold Lead
110

Maintain Your Lead Scoring System
• A lead-scoring framework is not a “set-it-and-forget-it” proposition
• Periodically review the SLAs that have been established between
sales and marketing
• Do the stats show a need for revisiting the SLAs, a need for sales
training, or a need for greater staffing/coverage?
• Always obtain feedback from your teammates in sales. They are
closer to the customers and can be your early-warning system for
detecting and responding to changes in the market
• Review opportunity-to-close ratios to gauge the effectiveness of your
scoring system. Reexamine Your Qualification Questions and
Reexamine Your Weightings
111

Step 6: Lead Nurturing
• What creates the momentum for a lead to move along its
journey through the Demand Funnel?
• Lead Nurturing is an automated process of engaging in a
two-way dialogue with prospects to provide and obtain
the information each party needs at key stages of the
buying cycle. The ultimate goal of lead nurturing is to
help prospects understand that your product or service is
the best choice to achieve their objectives
113

Ways to nurture leads
• Engage in a dialogue with prospects- Engagement
means dialogue, not monologue. It means creating
communication that has value for both parties, so that
buyer and seller both have an interest in continuing to
communicate
• Gauge each stage of the buying process- prospect
goes through a multistage process before making a
purchase decision.
114

• Remember, the prospect’s buying process is not the
same as your selling process! Typically, the buying
process looks like this:
115

• Help prospects achieve their objectives—Why do
prospects become customers? Ultimately, it’s because
they feel and decide your solution will help them achieve
their objectives. They believe that yours is the best
choice, for various reason(s), to solve their problem
116

Lead Nurturing along the Demand
Funnel
117
MQL= Marketing Qualified Leads, SAL= Sales Accepted Leads, SQL=
Sales Qualified Leads,

Types of Nurturing
• Nurture to educate
Greatest opportunity to engage with your prospect and generate real, sustained interest in your
offering. Use your exciting multimedia content, webinars, and other similar resources as calls to action
• Nurture to connect sales
Move the lead from MQL to Sales Accepted (sales-ready) Lead (SAL) status. The primary goal is to
connect the prospect with a lead development rep or salesperson. Tools like needs assessments, free
consultations, and personal demonstrations works.
• Nurture to onboard/ upsell
It’s a lot more expensive to get a new customer than to keep an old one, so now it’s up to you to keep
building rapport and on boarding nurtures are a great way to achieve that. Start with a “welcome
aboard” nurture for net-new customers, followed by on boarding and training nurtures. Provide
guidance on adoption, continue nurturing for loyalty, upsell/cross sell
• Nurture to recycle
Send these leads into your recycle nurture program that gets them back through the Demand Funnel
and reengaged with sales in the future. If you don’t, a huge percentage of these contacts will buy from
a competitor because you didn’t stay engaged with them. Better approach is to put them into a win-back
nurture that puts them in hibernation for a period and checks in to ask, “How are things going?
118

Why Lead Nurturing Matters?
• Companies that excel at lead nurturing generate 50% more sales-ready
leads at 33% lower cost per lead (Forrester Research).
• Nurtured leads produce a 20% increase in sales opportunities over
non-nurtured leads (Demand Gen Report).
• 60% of marketers believe that technology can help them develop
more high-quality leads (Forrester Research).
• Sales reps dedicate 14% of their time to lead development, but only
6.3% of leads are utilized (Sirius Decisions).
• Nearly 80% of marketing leads never convert into sales. Lack of
lead nurturing is the common cause of this poor performance
(Marketing Sherpa).
• 84% of qualified leads are not ready to buy (Aberdeen Research)
119

Manage your content to move leads
• You need to speak in different ways to different buyers at different
phases of the sales cycle
• In fishing vernacular, you need lots of different lures and lots of
different kinds of bait to catch lots of different fish!
• Content marketing strategy is a serious discipline involving the
planning, creation, delivery, and management of informational
content
–Frequency—Content generation and dissemination must
maintain momentum to be effective.
–Relevance—Marketing automation systems, data segmentation,
and personas enable you to pinpoint your messaging to specific
targets. Take advantage of that ability
120

Contents at different stages of buying
process
121

Step 7: Analytics
• A marketing automation system that’s integrated with CRM enables
us to measure performance “from click to close.”
• KPI
–Number of leads generated to meet targeted sales order
–Cost per lead, Cost per opportunity, cost per closure- Actual cost
of lead generation divided by number of leads/ opportunity/ sales
closure
–Stage Conversion Rates- report how many prospects move from
one stage to the next level
–Average Time at Each Stage- Measuring how long the average
prospect spends in each stage tells you the velocity of your
Demand Funnel
–Campaign Performance- Comparison of targeted lead
generation and actual within a defined budget
122

Create Lead Nurturing Plan
Lead Nurture
Philosophy: Everyone is a potential customer or brand advocate.
124

Key metric for Lead generation
• Cost per lead- Total amount spent to generate leads divided by
number of leads generated
• Cost per conversion- Cost per lead can be misleading sometimes as
it there is always a difference between “Marketing qualified leads”
and “Sales accepted leads”. Cost per conversion is the amount
spent to complete a purchase. Total amount spent on lead
generation divided by sales closure
• Conversion rate- Different channels behave differently. Number of
sales closures divided by number of opportunity (represented in %).
• Lead generation budget- Amount spent in generating required leads
in order to meet targeted revenue
125

Keeping Score Of Your Success
• Quantifying Marketing
• Automation & Integration
• Data Capture
• Metrics That Matter
• Metric-Driven Marketing Culture

Start With The End
• What should you measure?
• Start with the end
• PPT or Excel
• Automation & integration tools
• www.manufacturingdemand.com

There Is No GAAP For Marketing
• No agreed upon standards
• Models, Comparisons & Benchmarks
• Commercial ready solutions
• PPT & Excel

The 3 C’s
• What can you Count?
• What Counts?
• What can you Count on?

3 Categories of Marketing Analytics
• Executive KPI’s
• Demand Funnel KPI’s
• Campaign Performance

Executive KPI’s
• Marketing Sourced Leads & Opps
• Marketing Contribution to Revenue
• Marketing Influence on Opps & Revenue

Demand Funnel KPI’s
• Prospect/Contacts at Each Funnel Stage
• Stage Conversion Rate
• Average Time at Each Stage
• Lead-Score Distribution

Campaign & Asset Performance
• Campaign Performance
• Asset Performance

Quick Tips For Developing Culture
• Design from the start
• Build process
• Define KPI’s
• Create simple reports
• Dedicate a resource
• Explain your KPI’s
• Enhance your website, campaigns & CRM

Case Study
• Key Metrics
136
Metric Baseline 1 2 3 4 5
# of
Visitors
10 450 1000 4000 8000 17000
Cost of
Acq.
$100 $45 $1 $0.25 $0.12 .056

Conclusion
Contact
Brett Noyes
www.noyeslimited.com
brettnoyes@startupweekend.org
509-910-3496
@brettnoyes

Market Place
Accounting Banking Sales Organization Social
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