finding untapped revenue in your database
DESCRIPTION
This is my presentation at the Pardot User Conference, September 28, 2010 in Atlanta. It's an expanded and improved version of my "7 steps to find untapped revenue" presentation.TRANSCRIPT
Finding Untapped Revenue in
Your Marketing Database
Elevate 2010
Introduction
Jep Castelein Founder of LeadSloth
www.leadsloth.com
@jepc @leadsloth
1848 James Marshall Discovers Gold
The CHALLENGE
How Much REVENUE Are You Missing Out On?
NURTURE Leads to Assure More Revenue
The FACTS
50% of Leads are NOT Ready to Make the Jump
23% BUY from a Competitor 6 Months after Inquiry
Nurtured Leads Produce 20% MORE Sales Opportunities
The ASSESSMENT
How MUCH Are Your Leads Worth?
1. Acquired Names vs. Inbound Leads
2. Length of the Buying Process
3. Recency
4. Activity Level
5. List Fatigue
6. Cross-sell Opportunity
7. Fit with the Ideal Customer Profile
0
200
400
600
800
1000
1200
1400
1600
0-3
Months
3-6
Months
6-12
Months
>1 Year
Leads
Visualization: How OLD Are Your Leads?
Example: Low Value Lead Database
The 7 STEPS
Sales & Marketing
Alignment
6.
5.
7.
The Lead Nurturing Process
Choose The Right
Audience
Invest in
Personas
Provide Valuable
Content
Create the Right Offers
Have
Conversations
Track & Measure
1. 2.
3.
4.
# 1: COLLABORATE with Sales
# 1: EXAMPLE Lead Flow
New
Lead
MARKETING
SALES
Nurturing MQL
Evaluation
Recycled
Lead
Customer
Long-term
Lead
SAL
Selling SQL
Customer
Lost deal/
Cancelled Closing
# 1: Sales ALIGNMENT Challenges
• Meltwater News: PR software company
• Sales-oriented culture
• Skepticism towards marketing
• No CRM integration: Too hard for sales to find
the leads
• We got lucky: First opportunity within 1 week
# 2: CHOOSE the Right Audience
# 2: Focus on Reactivating Trial Leads
• PEPID: Medical software for smart phones
• 30-day trial: Most people don’t even try
• However, most are still interested
• Easier to convert existing trial leads than
getting new trial leads to sign up
• Often, your existing lead database is a
goldmine
# 3: Know them WELL
# 3: Three Steps to a Buyer Persona
1. Desk Research • Job websites
• Conference agendas
• Online magazines & blogs
2. Interviews • Intros via LinkedIn
• Record quotes
3. Validation
# 3: Personas According to Job Role
• GoodData, SaaS business intelligence software
• Developed three personas
• Executive
• Power user
• BI developer
# 4: Provide VALUABLE Content
# 4: Content Mapping EXAMPLE
Awareness Evaluation Decision
Economic
Buyer
End User
Technical
User
Whitepaper about
industry trends ROI Calculator Analyst Report
Demo Video
Technical Whitepaper Product Trial Proof-of-concept
Webinar Customized Demo
# 4: Develop Compelling Content
• Backbase, enterprise portal software
• Entering new vertical
• Webinar series
• Three highly-relevant topics:
• Analyze trade magazines and blogs
• Monitor social media
• Look at conference agendas
# 5: Make OFFERS They Can’t Refuse
# 5: Know What Your Goal Is
• FuneralOne, marketing software for funeral homes
• Goal: Get prospects on the phone
• Offers:
• Website review
• Website preview
• Excellent pre-sales support
# 6: HAVE Conversations
Email 1
Email 1
Email 1
Email 2b
Email 2a
Email 2c
Email 3
Email 3
Email 4
# 6: Campaign Tracks
# 6: Smart Campaign Reuse
• Distinguish long-term campaigns and triggered
campaigns
• First couple of emails very targeted
• Then regular nurturing track (Duration: Twice
the sales cycle)
• Then long-term nurturing track
• Separate track: Event invitations
# 7: Track & MEASURE
# 7: Example Dashboard
# 7: Know What You Want to Measure
• rPath, data center management software
• Dashboard project
• Improve visibility into marketing performance
• Approach:
• Define what you want to know
• Create a sample report
• Implement
Sales & Marketing
Alignment
6.
5.
7.
The Lead Nurturing Process
Choose The Right
Audience
Invest in
Personas
Provide Valuable
Content
Create the Right Offers
Have
Conversations
Track & Measure
1. 2.
3.
4.