How to Maximize Lead Conversion Rates and Optimize your Pipeline

Transcription

1 How to Maximize Lead Conversion Rates and Optimize your Pipeline Riley McNeilage October 2015

2 About Qlik Marketing Qlik provides a platform-based approach to visual analytics that brings insights and clarity to where it s needed the most: the point of decision. Leveraging Qlik technology marketers can assess and optimize campaign effectiveness through advance analytics and visualization. Business users and managers are empowered with a holistic view of marketing data - allowing for greater speed, accuracy, collaboration, and efficient returns on marketing investments. Marketing has evolved from a primarily creative discipline to a highly analytical function and a significant revenue generator 2

3 The Function of HUB Marketing VISION Foster a commitment to the business of marketing with the goal of delivering predictable demand strategies: Establish prospect intent Move buyers to activate Promote sales acceleration MISSION Develop processes and programs to enable efficient and effective lead to close Facilitate strategic planning Inform investment priorities Simplify performance measurements Foster alignment within marketing and between marketing and sales 3

4 5 Steps to Maximize Demand and ROMI 1. Develop an Operating Model & Capabilities Plan 2. Develop Content Strategy & Contact Engagement Plan 3. Align Lead Quality & Follow-up 4. Data-driven Interlocks between sales and marketing 5. Test, Measure and Iterate 4

5 Develop an Operating Model and Capabilities Plan Success from coordination. Marketing Strategy and Ops serve as the key coordination point. Business Marketing Strategy & Ops Demand Gen/Field Marketing Provides detailed objective Business goal Target customer Revenue objective Deal size Other Defines demand profile for the period GEO/Segment Goals & Customer profile # of contacts # of leads # of opportunities # of closed deals Deal size Deal velocity Provides tactic to establish reach Content strategy Marketing mix/ avenues Timing Audience considerations Plan Prepare Execute Defines capabilities to execute Access to marketing channels Lead # Opportunity # Contact requirements Route to market Other Business requirements DB requirements Market mix requirements Demand gen requirements Route-to-market requirements 5

6 What does our buyer look like? Account Fit based on profile Persona Fit based on solution Informed, Committed Digital Activity (Intent Data) No Soft Bounces Search interests Webpage Visits Click >= 5 Customers with commitment to providing content on the web site (Strong Web Technology Profile) Level 0, 1, 2 Target, Initial Inquiry, Profile Fit Level 3, 4 Activity Qualified, Propensity Level 5, 6 Tele-Qualified, Agreement to Meet No industry listed No title or company name provided Tire Kickers (Marketo Activity) Soft Bounces Webpage Visits < 20 < 2 Clicks Little to no web presence for customers 6

7 How we tie it all together? Using associative models allows marketers to explore the buyer journey by making selections and getting instant feedback on what data is associated and what is unrelated in the customer lifecycle. Data Segmentation Offer, Delivery & Placement Analysis Campaign Mix & Sequence Relevancy & Recency during Follow-up Attract Targets Level 0, 1, 2 Engage Suspects Level 3,4 Convert Prospects Level 5,6 Determine mix by CPL, Lead-to-Close Cycle and Pipeline Need 7

8 Establish a Baseline and Set Realistic Goals ATTRACT >25% increase in Marketing responders Responders Follow-up Required (AQL) 75% 50% ENGAGE Goal Identified (MQL) Goal Confirmed (SQL) 4% 80% 10% CONVERT Goal C+ (SQL) Win 85% 35% Blue: Goals Above improvements would yield 50% incremental revenue Full Year 2014 Benchmark 8

9 Lead Intake Plan Who has interest in Qlik? Marketing Nurtures Targets Leads are Scored by fit & engagement and sent to the HUB as FUR What did they do? Who should manage the opportunity? Determined by Deal Size New Leads are routed to Lead Development. Existing Leads are routed to Inside Sales Who should pursue? Leads are Prioritized by Propensity and Qualified by the HUB What is the propensity to convert? 9

10 Lead Follow-up App App includes lead lifecycle changes, velocity, governance (SLAs), etc. Both Sales & Marketing have access 10

11 Use Case: Integrated Marketing Pilot Marketing Nurture + HUB Telemarketing Goal: Generate net new pipeline Objective Fast-start a new solution play, test and measure message and delivery with a new audience. Accelerate pipeline identification and close the gap on the lead-to-close cycle Description Prescriptive preparation within the HUB Direct Marketing; 3 touch campaign Prospecting BOM: script, automated nurture, prospecting brief Outbound Calling: blind test against data sources. Target Audience LL 0: Inc 5000 Target List LL: 1, 2: Campaign respondents LL 3: Target Persona and behavioral intent data aggregated to show propensity Execution Period: July 8 Sep 28 Results LL 0: 6,885 Targets, 12% AQL, 0% conversion to-date LL: 1,2: 568 Responses, 59% AQL, 1.3% conversion to-date LL 3: 1,887 Prospects, 42% AQL, 5.7% conversion, 400X ROMI (**even distribution across sales territories) 11

12 Key Takeaways: Shift Mindset & Actions Buyer intent and engagement data improves and accelerates the lead to close cycle Focus on value, velocity and volume for optimal ROMI and productivity Transformation takes time and it should be challenging. 12

13 Thank You