Improving Qualified Lead Generation and ROI with Lead Nurturing

(1)

Improving Qualified Lead Generation

and ROI with Lead Nurturing

(2)

Today, we’re going to discuss

1. Key findings from research from more than

1,745 B2B marketers

2. A case study in which a B2B company increased

sales conversions by 190%

(3)

Research background

1,745 B2B organizations were surveyed on:

• Top challenges

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Key Finding: Challenges are still growing

39% 44% 45% 39% 40% 41% 42% 43% 44% 45% A ve rag e In d ic ation o f Ch al le n ge s

(5)

B2B organizations rated the

pertinence of several

challenges including:

1. Lead quality

2. Lead volume

3. Conveying value

4. Competing in

multichannel lead

generation

5. Generating PR buzz

Key Finding: Challenges are still growing

39% 44% 45% 38% 39% 40% 41% 42% 43% 44% 45% 2009 2010 2011 A ve rag e In d ic ation o f Ch al le n ge s Year of Response

Average indications of

challenges continue to grow

(6)

• B2B marketing challenges on

the rise year-over-year

• Continual struggle between

quality and quantity of leads

• The marketplace is evolving,

and marketers are resistant to

adapt latest best practices

Key Finding: Challenges are still growing

33% 27% 37% 35% 69% 41% 36% 36% 37% 44% 78% 38% 38% 40% 41% 49% 74%

Marketing to a lengthening sales cycle

Generating public relations "buzz" Competing in lead generation across multiple media, from podcasts to paid search to webinars to print ads

Generating perceived value in "cutting edge" product benefits Generating a high volume of leads Generating high quality leads

(7)

Key Finding: Tactics losing effectiveness

• External and internal

factors influence

challenges and perceptions

• Evolved marketplace

due to the economic

crisis

• Adoption of latest best

practices

6% 6% 6% 13% 13% 16% 19% 20% 26% 29% 31% 10% 16% 22% 31% 35% 23% 43% 25% 40% 36% 50% Print advertising Social media Direct mail Public relations Telemarketing Paid search (PPC) Virtual events / webinars Trade shows Email marketing Search engine optimization

(SEO)

Website design, management and optimization

(8)

6% 13% 13% 16% 19% 20% 26% 29% 31% 22% 31% 35% 23% 43% 25% 40% 36% 50% Direct mail Public relations Telemarketing Paid search (PPC) Virtual events / webinars Trade shows Email marketing Search engine optimization

(SEO)

Website design, management and optimization

2010 2011

Key Finding: Tactics losing effectiveness

• External and internal

factors influence

challenges and perceptions

• Evolved marketplace

due to the economic

crisis

• Adoption of latest best

practices

Dramatic declines on

perceptions on

effectiveness of all tactics

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“Generating valuable content.

Finding the right system, right

capabilities, at the right cost to

automate lead generation and

nurture programs.”

“We lose many of our leads

throughout the sales funnel.”

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Adoption of latest best practices is sluggish

68%

Have not identified their Sales and Marketing funnel

61%

send all leads directly to Sales

Only

27%

will be qualified at time of conversion

79%

have not established lead scoring

(12)

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Case Study: Background



Experiment ID: Jaspersoft

Location: MarketingSherpa Case Study Library

Test Protocol Number: #CS31447

Research Notes:

Background: A B2B software developer generated a large database of

open-source clients, and needed to convert them to paying customers.

Goal: To segment and nurture open source database to move leads

through the funnel.

Primary research question: Which nurturing approach will convert the

most leads?

Approach: Implement a lead nurturing effort with segmentation,

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Case Study: Revamping lead gen

“My challenge is not to increase the number

of leads, but to get improved conversion

rates throughout the funnel.”

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Case Study: Revamping lead gen

The goal was to create a powerful combination of:

• Customer profiling

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Case Study: A seven-step approach

Merge databases and systems into a

unified platform Segment databases according to profile and activity Customize outbound communications for contacts’ preferences Use dynamic registration forms to develop prospect profiles Create automatic drip campaigns for

specific actions

Route leads to

the appropriate sales person

Implement lead scoring

2 3

(17)

Customer-centric messaging

CMS

Web Analytics

Open Source

Email System

Mar ke tin g Au toma tion

Centralized &

Segmented

Database

Four

Nurturing Tracks

1. Customer 2. Community Member 3. Corporate North America 4. Corporate Europe

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• Applied demographic

and behavioral scoring

• Collected information

through dynamic

registration forms

• Handed leads off to

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Hand-off to Sales

Triggered nurturing and hand-off

Automated sub campaigns Actions indicating readiness to buy

Series of five automated emails Download of 30-day

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Case Study: Results

increase in sales conversions

Since implementing the new strategy, the team has achieved

a 190% increase in conversion rate from qualified lead to close.

190%

Highest Close Rate: Prospects who asked to be contacted by sales

Second-Highest Close Rate: Prospects who enter the automated

drip campaign for the professional evaluation 30-day trial

(21)

How can we approach

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B2B Funnel 1.0

Leads enter the system

Leads go directly to Sales

Sales cherry-picks the best leads

(23)

B2B Funnel 2.0

Leads scored

per criteria

Qualified leads

go to sales

Non-qualified

leads stay in

marketing

for nurturing

Qualified lead criteria established

(24)

What’s the key differentiator?

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• Organizations using lead

nurturing experienced a

35% lift

• Nurturing provides the

information leads need

to progress through the

funnel

Average lead gen ROI by use of nurturing

107%

79%

Average lead generation ROI

Currently using lead nurturing Not using lead nurturing

(26)

Funnel optimization demonstrates lifts in ROI

95%

80%

148%

Trial Transition Strategic

• Average lead generation

ROI by funnel optimization

maturity

• From Trial to Strategic

phases, organizations

received a 65% lift in lead

generation ROI

(27)

Overall funnel op leads to dramatic lift in ROI

155%

59%

Average lead generation ROI

Currently using marketing automation software Not using marketing automation software

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Five Key Components for Nurturing

5. Optimization

1. Segmentation

2. Content

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Five Key Components for Nurturing

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Segmentation

Deliver highly relevant content by segmenting based on

multi-dimensional traits, and developing unique lead

nurturing tracks for segments.

• Buyer personas identify traits,

interests and needs

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Buyer persona traits

Create research-based, detailed profiles that represent actual,

real-life groups of your target audience. Include demographics

and behaviors.

Demographics

Behaviors

Job title / responsibilities

Key concerns for purchase

Organization size

Interests

Primary market

Motivations

Industry

Expectations

(32)

Early buying cycle stages

Nurturing Type Buying Cycle Stage Campaign Goal Campaign Examples

Engagement Nurturing

Early Build stronger relationships and increase interest

Thought leadership content

Outreach Nurturing Early to mid Captures new leads, permissions,

additional data

Valuable download – whitepaper or report

Ongoing Nurturing All Consistent

communications to stay top of mind

SEGMENTED

monthly newsletter Conversion

Nurturing

Late Support sales conversion

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Early to mid buying cycle stages

additional data

Ongoing Nurturing All Consistent

communications to stay top of mind

SEGMENTED

Nurturing

Buyers guides, ROI calculators

New Customer Nurturing

End of initial buying cycle

Repeat purchases, reputation, referrals

(34)

Early to mid buying cycle stages

additional data

Ongoing Nurturing All Stay top of mind SEGMENTED

Nurturing

(35)

Late buying cycle stages

additional data

Nurturing

New Customer Nurturing

End of initial buying cycle

Repeat purchases, reputation, referrals

(36)

Late buying cycle stages

additional data

Nurturing

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Five Key Components for Nurturing

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Content

Create important, relevant and valuable content that will nurture

your leads through the buying cycle.

Challenge

• Creating content is expensive and time consuming

• Marketers constantly have a need for more quality

Solution

• Many marketers have a library of existing content that has only reached a small portion of their targets

(40)

• Multichannel

messaging, thought

leadership and

segmentation rated as

top engagement tactics

• Research audience

preferences for subject

matter, format, style,

etc.

Sample segmentation and content plan

Engagement Nurturing Outreach Nurturing Ongoing Nurturing Conversion Nurturing New Customer Nurturing

Buyer persona 1 Best practice article _{series 1} _{download series 1}Whitepaper Newsletter 1 _Updates

Buyer’s guide 1 Comparison 1 ROI Calculator 1

Getting started series 1

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Five Key Components for Nurturing

1. Segmentation

2. Content

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Channels

Lead nurturing often begins with email, but channels

can be expanded for greater results.

• Consider the original lead source - was it email, Web form, or

phone call?

• Test new channels for nurturing,

like direct mail, teleprospecting, social

• Ask! Survey your audience on

(44)

Five Key Components for Nurturing

1. Segmentation

2. Content

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Timing

Deliver relevant content to your audience WHEN they

want and/or need to receive it.

• Timing and frequency of delivery

• Combine scheduled and triggered blasts

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Frequency of lead nurturing touches

12% 8% 17% 18% 20% 5% 9% Once a month Once every three weeks Once every other week Once a week A few times a week Once per day

Multiple times a day

• Majority have a

frequency of a few

times a week, once a

week and once every

other week

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Optimization

Your lead nurturing campaigns will be a moving target

with continual optimization.

All aspects of your lead nurturing

campaign should be tested and

optimized:

• Segmentation

• Content

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Optimization – Questions to Ask

•Are there additional segments that can be added? •Do our existing segments need further detail?

Segmentation

•Is the subject matter resonating and engaging? •Is the content format preferred?

•Is the language / style resonating?

Content

•How are existing channels performing? •What new channels can we add and test?

Channels

• What time of day, week, month do our nurturing campaigns perform the best?

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Brian Carroll

Executive Director of Applied Research, MECLABS

Brian.Carroll@MECLABS.com

@BrianJCarroll

Kaci Bower

Senior Research Analyst, MECLABS

Kaci.Bower@MECLABS.com

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Hands-on Training: Evaluate lead nurturing

• Evaluate the sample lead

nurturing segmentation

and content plan.

• What’s working?

• Which nurturing materials

could be used more

effectively elsewhere?

• What are the other

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