11 tips to optimize your multichannel marketing campaigns
TRANSCRIPT
11 Tips to Optimize Your Multi-Channel Marketing Campaigns
Presented by Tom Judge• VP Strategy, Direct Marketing Partners (DMP)• VP Co-Chair, Direct Marketing Association of Northern California• Chair, NorCal BMA Sales Lead Roundtable
• Challenges in B2B Multi-Touch Campaigns• 11 Tips• Case Studies
Agenda
CMO Council: Reports the Problem
Half of companies do not achieve sales quotas
CMO Council: Reports the Cause
“It is clear that companies do not manage business leads in a way that optimizes their quality or value. After spending large sums on their initial acquisition through costly media campaigns and multi-channel content marketing programs, only a small percentage of companies effectively act on, nurture, convert, close, recover, or re-qualify leads over time.”
The CMO Council 2011 State of Marketing Report
B2B Marketing Challenges
Top 2 = our focus
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 1: Clearly define a “Sales-Ready Lead”
Action item: Define each type of type of sales lead and stage in your end to end funnel. Write it into the plan AND get management and stakeholders to sign the document.
Sample of “BANT+ Sales-Ready” Leads
Detailed background information on the prospect and the selling opportunity helps drive more productive sales results
DESIGN LEAD SPECS SO THEY MEET THE SALES TEAM’S REQUIREMENTS
ProfileSegmentTrigger eventsComplianceAccess to fundingSize of opportunityTime frameUrgency Willingness to move forward and engage with sales team?
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Marketing generates a lead with basic interest, not ready to engage a sales rep Sales teams reject unqualified leads, feels disconnected, requests “sales-ready” leads The numbers are unsustainable
Current marketing focus Current sales focusThe B2B leaddevelopment gap
Issue 1: Marketing hands offLeads too early. Unqualified
Leads waste sales’ time.
Issue 2: Sales cherry picks leads, lettinglonger-time-frame leads leak out.Issue 3: Marketing spends
More $ to replace lost leads.
Reach Interest Desire Convert Enrich Retain
Warm leads leak out
Gap in The Middle of the Funnel is Costing Time & $ Money
Source: October 2006, Best Practices “Improving B2B Lead Management”
Low Quality Leads Create Problems
Symptoms: Few conversions into customers
Tip 2: Map the end-to end process
• Know your prospect’s buying process• Map and document the end-to-end buying, selling and
demand gen processes
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Project Name: ABC Co. Sales Lead Strategy
Scenario A
1. SALES REVENUE: 1,300,000/yr
Sales Revenue Goals/QTR $325,000
Annual Revenue per sale $60,000
# Sales Required/QTR5.4
Estimated Closed Rate on Pipeline Opps.40%
# Qual Leads Convert to Proposal / Pipeline/QTR14
Est. forward conversion to Proposal Pipeline Rate on Sales-Ready Leads 33%
# Qualified Sales -Ready Leads Required @ A/B Level Quarterly (Prospects meeting sales-ready criteria) 41
# Qualified Sales-Ready Leads Required @ A/B Level Per Month (Prospects meeting sales-ready criteria) 14
Start With the Sales Process Reverse Calculate the Sales Lead Requirements
Three Segment Example: Lead to Sale Touch Metrics
Project Name: Seat Sales Lead-to-Sales Strategy
1,000,000 Seat ScenarioA: Large Ent.
SegmentB: SMB
SegmentC: Very SMB
Segment1. SALES REVENUE: Goal 80% Goal 10% Goal 10%
Annual Sales Goal in Units 100,000 800,000 100,000Estm. Units per sales 5,000 30 5
# Sales Required 20 26,667 20,000
Estimated Closed Rate on Pipeline Opps. After Demo 25% 33% 33%# Qual Leads Convert to Demo & Proposal / Pipeline 80 80,808 60,606
Est. forward conversion rate from qualified lead to Demo & Pipeline 50% 67% 67%# Qualified Leads Required @ A/B Level & Demo Annual (Prospects meeting qualification criteria) 160 120,609 90,457
# Qualified Leads Required @ A/B Level & Demo Per Month (Prospects meeting qualification criteria) 13 10,051 7,538
2. MKTG. INQUIRIES and CONTACTS:A/B Qualification Rate of 1:1 OB Contacts/IB Inquiries into Sales-Ready
Leads10.0% 10.0% 10.0%
# of 1:1 Touches OB/IB Contact Interviews Required per Month (Scripts Completed w/ More In depth BANT+ Profiled Needs Gathered in this Model)
133 100,508 75,381
Formalize the Multi-Channel Lead Gen Campaign Plan & Touch Metrics
# Qualified Leads Required @ A/B Level & Demo Per Month (Prospects meeting qualification criteria) 67
3. MKTG. STRATEGY to FILL the PIPELINE:
Campaign #1: E-Mail + OBTM (to tele-qualify & set appt.) 26
Campaign #2: Dir. Mail + OBTM (to tele-qualify & set appt.) 0
Campaign #3: OBTM Teleprospecting Alone (non-responders) 15
Campaign #4: PPC Paid Search Adv. No Telequalification. 6
Campaign #5: SEO Organic Search + OBTM (to tele-qualify & set appt.) 0
Campaign #6: Trade Show + OBTM (to tele-qualify & set appt.) 15
Total Pre-qualified field sales force ready Leads/ Mo. 62Difference -5
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Multi-Channel Touch Funnel Building Metrics Plan
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 3: Ensure prospect data accuracy
Action item: Make the courageous move to fix and
standardize the prospect database. Hint: This is a never ending task.
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 4: Segment your target markets into smaller more manageable target sub segments.
Action item: Compare campaign performance by segment to identify better performing markets to focus resources better..
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 5: Implement a system & lead mgmt. team that gives you full visibility into all of your campaigns
Action item: Have the right talent and an executive dashboard reporting tool to manage your lead funnels
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 6: Sync up relevant content, personalized messaging to tell your compelling story & differentiate
Action item: Create a sequence of relevant content to deliver to prospects over time to earn the right to ask the qualification questions.
Optimize with Personalization
Average Landing Page
2.3X
Optimized Landing Page
ADDITIONAL 30% LIFT IN LEADS
SIMPLE INTEGRATION (TO PRE-FILL FORMS)
NO INTEGRATION REQUIRED
100% LIFT IN LEADS
Optimizing a landing page can increase conversion
rates 2.3 times
40%
60% Personalization In Landing Page
Personalization In Outbound Medium
Pre-Fill Forms
30%
Rovi Multi-Channel Campaign
Rovi Multi-Channel Campaign Email
Banner Ad in Tech Crunch
Banner Ad in Gigaom
Social Media:Twitter
Registration Page
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 7: Include tele-qualification in the touch process
Action item: We suggest running a three-month A/B test using email + telemarketing in the lead nurturing and qualification process and measure the ROI.
Tele-qualification can increase the amount of sales qualification data points gathered & B2B qual. rates
Email + Telemarketing Case Study
Landing Page
Metrics – Email Alone
EM Broadcast to 14,769 EM Click Through @ 1%= 161 Conversion to Demo @ 10% = 16
Qual. Lead = Interest & Registered for Demo .1% conversion ratio of EM sent to qual. demo lead
Metrics Email with OutboundTelemarketing Integrated
OBTM follow up calls to non-responders @ 7,513
Prospects Contacted & Graded @ 33%= 2,511
Now cleaned & captured, most are now in the opt-in database Prospects Scripts Completed & Needs Captured
@ 26%= 662 1:1 relationships now established
Conversion to Demo Sales-Ready Leads @ 32% = 217 Qual. Lead = Interest & Registered for Demo
2.9% conversion ratio of Calls to qual. demo lead
Results: Multichannel Boost of 13X
Conversion to Demo: From 16 via em alone to 217 via combined em+tm
Conversion to Demo; Email; 16
217
13.6
Multi Channel Boost
Email Telemarketing
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 8: Prospect Nurturing is critical
Action item: Use your multi channel lead management touch metrics dashboard to track response as you make multiple contacts and thus identify the best combinations to optimize conversions to “sales-ready”. AKA, that “sweet spot”.
Value of Nurture: Business Case
Contact # 1
Contact # 2
Contact # 3
Contact # 4
Contact # 5
Contact # 6
Contact # 7
Contact # 8
Contact # 9
Contact # 10
Contact # 11
Contact # 12
Prospect
Customer
50% of sales people have given up
65% of sales people have given up
89% of sales people have given upJust now you are becoming a factor in yourprospect’s mind
Nurturing slowly, your prospect gets to know you
You are probably the onlyperson to make 8 contactswith this person
79% of sales people have given upYou harvest low hanging fruit
You are earning top of mind awareness
At this point when you prospect is ready to buy, you have a 90% chance of being called
*Microsoft study
Anritsu Multi-Channel Campaign
Multi-Channel Campaign: 3D Mailer + PURL
Direct Mail - Letter(Multi-Channel
Campaign)
Direct Mail – Brochure Cover
Anritsu Direct Mail - BRC
(Multi-Channel Campaign)
Anritsu Email
Anritsu Registration Page
BTS Master Campaign % IB Response Rate Metrics
Drop Date DeliveredIB Response
RateLanding Page Capture Rate
Qualification Rate on LP
Submissions
DM-BTS PURL EVDO 9/08 679 6.63% 3.83%
DM-BTS PURL WCDMA 9/08 679 7.36% 4.27%
DM-BTS PURL WiMAX 9/08 59 13.56% 3.39%
TOTAL
1,417 103 = 7.27%57 = 4.02% of TTL Delivered
55% of LP
28 = 49% of LP
Submissions
Broadcast
Metrics: Combined Email and Direct Mail Results
Response to direct mail & email broadcasts was outstanding. 7% visited the PURL, and 4% filled out the contact form or 55% of those going to LP
Industry norm qualification rate = 5% to 10%. The BTS Master campaign’s multi-touch strategy improved conversion to sales-ready lead five fold.
BTS Master Campaign % Outbound TM Touch Metrics
Target Calling Metrics: For 57 IB responders & 1,410 non-responders
Project Metrics Overview
Funded Call Hrs
Hours Called
Remaining
HoursList Size
Number of Calls
Completed
Records
Completed
Scripts
Calls/Hour
Records/Hour
Scripts/Hr
Call Hrs/De
mo Reg.
Demo % of TCS
170.0 170.00 0.00 1,467 3,862 876 244 22.72 5.15 1.44 1.39 49.18%
Leads Campaign Results
A+ A- B C
Future Opportu
nities
Total Leads
& Future Opportunities
New Recor
ds
Uncallable
Records
% Uncalla
ble Record
sOpt-Out
Inappropriate
Contact
Referral given
Inappropriate
contact,
No Referral
given
31 34 53 2 2 122 111 298 34.0% 8 104 120
BTS Master Combined Campaign Touch Metrics
Drop Date Targets
Prospects Engaged/ Updated Validated
Presentation Completed (TCS) TTL Completed
Scripts
Qualification into Sales-
Ready Lead from TCS
DM-BTS PURL EVDO 9/08 667 484 = 73% 126 =26% 70 = 56%
DM-BTS PURL WCDMA 9/08 626 390 = 62% 102 = 26% 47 = 46%
DM-BTS PURL WiMAX 9/08 37 19 = 51% 3 = 16% 0 = 0%
Addtl Others 9/08 137 34 = 25% 13 = 38% 3 = 23%
TOTAL
1,467 927 = 63% 244 = 26% 120 = 49%
Broadcast
Combined IB & OB Calling Metrics & Results
Total targets to pursueIndustry norm qualification rate = 5% to 10%. The BTS Master campaign’s multi-touch strategy improved response five fold.
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 9: Use a compelling offer with staying power.
Action item: ALWAYS OFFER something of perceived value.
Business to Business Offers
Offer Responsiveness (1-5) Qualified(1-5) Optimum
Offers
ROI calculators 3 5 15
Whitepapers/ Guides 3 4 12
Case studies 4 3 12
“Relevant” giveaways 4 3 12
Video clips or demo 4 3 12
Webinars 2 5 10
Live events 1 5 5
Free giveaways 5 1 5
Tradeshows 2 2 4
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 10: Make your call-to-action progressively more urgent as the campaign proceeds.
Action item: Emphasize urgency as an upcoming compliance or deadlines approach. You can also use discounts with limited time offers as your deadline.
11 Tips to Optimize Your Multi-Channel Campaigns
Tip 11: Analyze KPI metrics in light of the original touch plan & make refinements during campaigns
Action item: Analyze results metrics from end to end. Adjust tactics to improve each metric.
Track Sales Pipeline KPIs and ROI
View sales pipeline results & ROI from your sales leads
Actual Lifetime Value of Deals Won Amount Invested
ROI 2012 on Deals Won Reported Win Plus Loss Pipeline Revenue
Analysis $539,168.00 $ 78,000.00 5.9:1 11.1:1
Sales Won:10 Sales Lost:20
Total CY Value Total Lifetime Value Total CY Value Total Lifetime Value
$ 299,507.00 $ 651,445.00 $ 120,800.00 $ 308,800.00 $38,750.00 $61,100.00
$5,500.00 $6,000.00
$34,100.00 $61,200.00$69,503.00 $103,648.00 $5,970.00 $11,940.00
$73,050.00 $99,600.00 $ 103,450.00 $ 417,400.00 $ 25,000.00 $ 7,010.00 $ 12,120.00
$ 86,975.00 $ 145,900.00 $ 185,463.00 $ 539,168.00 $ 238,845.00 $ 404,740.00
Tom [email protected]: 510-368-7527www.directmarketingpartners.com