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Benchmarking the Buyers

Journey!!

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Panelists!Moderator  

JusRn  Gray,  CEO,  

Lead  MD    

Andrew  Gaffney,    Editor,  

Demand  Gen  Report    

Benchmarking the Buyers Journey Aligning buying behavior to your revenue model Justin Gray, CEO July 21, 2014

7/21/14 8

Speaker Intro

Benchmarking: The Value of LeadMD

JusFn  Gray  CEO,  LeadMD            @jgrayma-er              /in/leadmd                            jgray@leadmd.com      

LeadMD              @myleadmd              /company/leadmd-­‐inc.                  leadmd.com/blog      

7/21/14 9

Outline for Today

Benchmarking: The Value of LeadMD

§  Understanding Buyer Behavior §  Mapping Behavior to Revenue Models §  Benchmarking Your Results §  Buyer Persona Specific Models §  Lip Service: The Barriers to Revenue Modeling §  Questions

UNDERSTANDING BUYERS How we build trust

7/21/14 Presentation Title 10

Traditional Buying Concept

7/21/14 Presentation Title 11

Look Familiar?

7/21/14 Presentation Title 12

How we really buy

7/21/14 Presentation Title 13

MAPPING BEHAVIOR Buyer journeys & Marketing’s Effect on the Journey

7/21/14 Presentation Title 14

Duh! The Role of Perception:

7/21/14 Presentation Title 15

A.I.D.A.

§  Awareness – the customer is aware of the existence of a product or service

§  Interest – actively expressing an interest in a product group

§  Desire – aspiring to a particular brand or product

§  Action – taking the next step towards purchasing the chosen product

7/21/14 Presentation Title 16

Combine the Two Models

§  Buyers Process .vs Marketers Process

7/21/14 Presentation Title 17

Traditional Terms Have Value

§  Create Uniform Definitions –  Initial Consideration

§  (MAL): Marketing Accepted Leads §  MQL: Marketing Qualified Leads

–  Active Evaluation §  SAL: Sales Accepted Leads §  SQL: Sales Qualified Leads –  Pipeline Stages

–  Purchase §  Customers §  Lost Opportunities

7/21/14 Presentation Title 18

7/21/14 19 7/21/14 19

BENCHMARK LeadMD'Metrics'MatrixClient'Lead'Data'Analysis

Company'Business'Name:'XXXXXXXX

Project'Start'Date:'September'1,'2014

Metric Baseline TargetTotal'Revenue'(Current'Quarter) $2,343,750.00 $3,431,250.00

Average'Deal'Size $25,000.00 $25,000.00

Average'Length'of'Sales'Cycle'(Days) 90 90

#'of'Quarterly'Inquiries 3000 3050

Inquiry'to'MQL'Conversion'% 25% 30%

MQL'to'SAL'Conversion'% 50% 60%

SAL'to'SQL'Conversion'% 50% 50%

SQL'to'Close/Win'Conversion'% 50% 50%

Conversion'Metrics

Revenue'Indicators

Projected'Revenue: 3,431,250.00$'''''''''''''''''

LeadMD'Lift'from'Target: $1,087,500.00

Benchmarking: The Value of LeadMD

PERSONA REVENUE PATHS All buying journeys are not equal

7/21/14 Presentation Title 20

The Constant Between Models

7/21/14 Presentation Title 21

Content Research

Mar

ketin

g Ef

fect

iven

ess

Research Models

§  Company vs Consumer §  Initial Awareness – Company Driven

§  Active Evaluation – Consumer Driven

§  Social Interaction §  Online Data Gathering §  Word of Mouth

7/21/14 Presentation Title 22

AVOIDING LIP SERVICE When push comes to shove

7/21/14 Presentation Title 23

Barriers to Success

7/21/14 Presentation Title 24

Murder by Numbers

§  Only 22% of marketers use analytics to manage campaigns (beagle)

§  Only 38% of marketers have a single view of interaction with content across digital touchpoints (forrester)

§  82% of Marketers report being incented on lead volume (leadmd)

§  Only 27% of B2B leads are sales-ready when first generated (marketing sherpa)

7/21/14 Presentation Title 25

The Final Blow

§ 90% of business buyers say when they’re ready to buy, they’ll find you (DemandGen Report)

7/21/14 Presentation Title 26

The Conversation Continues

7/21/14 Presentation Title 27

Final Thoughts

§  We have to change our thinking §  We need seek out the conversation §  We need to focus on nurture §  We need to evaluate the model

7/21/14 Presentation Title 28

QUESTIONS Open forum

7/21/14 Presentation Title 29

7/21/14 30 Benchmarking: The Value of LeadMD

#LLCseries  

Q&A // Panelists!Moderator  

JusRn  Gray,  CEO,  

Lead  MD    

Andrew  Gaffney,    Editor,  

Demand  Gen  Report    

#LLCseries  

Lead LifeCycle Series Prize Box!

Register,  a>end  and  tweet  the  Lead  LifeCycle  Series  sessions  using  the  #LLCseries  hashtag  to  be  entered  into  the  Prize  Box  giveaway!  The  more  sessions  you  a>end  and  tweet,  the  higher  

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