B2B Lead-Marketing-Sales-Alignment PDF
B2B Lead-Marketing-Sales-Alignment PDF
B2B Lead-Marketing-Sales-Alignment PDF
VOLUME FOUR
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101 B2B Marketing and Sales Tips from The B2B Lead
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Use Lead Scoring to Identify Sales-Ready Leads Marketing Metrics to Drive Sales Practical Strategies to Building Sales-Marketing Alignment Using Sales Wins Analysis for Focused Lead Generation
If you like what your see here, be sure to check out theb2blead.com for more B2B Marketing and Sales tips.
Content contributed by: Amy Hawthorne, Director of Marketing at ReachForce Jon Miller, author of the Modern B2B Marketing blog and VP of Marketing for lead management software company, Marketo Suaad Sait, CEO at ReachForce Cody Young, Sr. Director of Customer Success at ReachForce
101 B2B Marketing and Sales Tips from The B2B Lead
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Table of Contents
Marketing and Sales Alignment 1. Heres Why Marketing and Sales Cant Get Along 2. What is Marketings #1 Job? 3. Practical Strategies to Building Sales-Marketing Alignment 4. Defining a Lead 5. Marketing Metrics to Drive Sales 6. Using Sales Wins Analysis for Focused Lead Generation 7. Use Lead Scoring to Identify Sales-Ready Leads 8. Using Surveys for Lead Scoring 9. Easy to Take Lead Scoring Surveys Help Drive High Response Rates 10. The Integrated Revenue Cycle: A New Model for Sales and Marketing
101 B2B Marketing and Sales Tips from The B2B Lead
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101 B2B Marketing and Sales Tips from The B2B Lead
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101 B2B Marketing and Sales Tips from The B2B Lead
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101 B2B Marketing and Sales Tips from The B2B Lead
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Dening a Lead
Note the perspective in this blog bite assumes the following: Lead generation is about delivering high quality targeted opportunities to sales to accelerate revenue. I have spent several years listening people complain about the following: Sales: Marketing does not know what they are doing, their leads are bad Marketing: Sales is not smart enough to follow-up on our leads The crux of the problem, in my view is the denition of a lead and metrics that are used to measure marketing success. My opinion, 2 things you should consider: 1. Get WRITTEN buy-in from sales on definition of a lead 2. Compensate marketing not on generating volume of leads but the number of leads that sales accepts based on #1 (compensation tied to revenue is ALSO key) So what is a lead? I like Sirius Decisions framework. Its a good place to start, then you can adapt for your business:
101 B2B Marketing and Sales Tips from The B2B Lead
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Once a new customer is onboard I then go back and identify what activities were involved in moving this lead to being a new customer so I can be sure to do more of it. Now of course there is a list of metrics similar to this for each initiative you take on. Its always important to outline goals and expectations of each program so that you are sure to spend your time and resources on the best producing programs. Do you measure anything not on this list? If so, please share.
101 B2B Marketing and Sales Tips from The B2B Lead
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Five Steps to Effective Laser-Targeted Lead Generation Using Sales Win Analysis
The following five-step process gives you a roadmap for fast and efficient Sales Wins Analysis. By following this path, you will be able to eliminate false starts and quickly identify top performing vertical markets so that you can execute laser focused programs that produce a higher response rate, more sales conversions and faster pipeline velocity. Step 1: Review and categorize the opportunities in your Marketing and Sales pipeline. Effective Sales Wins Analysis begins with a thorough review of your Marketing and Sales pipeline including open opportunities and closed deals from current and previous years. By analyzing both the size of the deals, as well as the velocity of those deals as they move through the pipeline, and categorizing those deals into distinct market sectors, you can begin to identify markets that are producing the most revenue for your organization. To get started, compile customer account data from your CRM system and build a data model that answers the following questions: In which vertical market segments am I closing the most deals? In which vertical market segments are deals closing the fastest? What other vertical market segments share similar characteristics?
Step 2: Build a prole of your top accounts. After identifying the most lucrative target markets for your product or service, you will want to discover additional prospect accounts in those markets with characteristics that are similar to your best buyers. These prospects will undoubtedly have the highest propensity to buy from you, so target your Lead Generation programs at this group first. Consider the following when building your prole: Qualification Criteria: Profile your best customers to define a set of three to five common characteristics that will serve as qualifying criteria for identifying new prospects. Look at company revenues, locations, number of employees and other easy to find data. Do most of your customers fall into the Fortune 1000-size range? Are more deals closing faster in the Small and Medium-size business sector? Is the number of employees a critical success factor? Are there key trends you can identify in certain industries that are driving the need for your product? For example, you may find that you close more deals quickly with organizations that have revenue greater than $500,000,000 USD and global operations
101 B2B Marketing and Sales Tips from The B2B Lead
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with a minimum of ve locations. If so, use these as minimum qualication criteria for selecting your new prospects in your best vertical markets. Then make sure you capture this type of data for all new leads so that you can better qualify the leads you provide to Sales. The Customer Buy Cycle: Next, map the buy cycle for your best customers to identify and describe the roles and responsibilities for the decision-maker, economic buyer, end-user, and other key players in the buying process. The number of roles depends upon the number of people typically involved in the buying process. Youll want to understand their roles both in the buying cycle and within the organization. Make sure you phone screen a sample of these targets to understand the responsibilities for each of your buyers. This will give you the insight to produce high impact Marketing messages and a strong call to action for your multi-modal Marketing campaigns. Step 3: Identify additional target accounts in your top markets. You now have a blueprint of the best possible prospects for your business. Apply that blueprint to the universe of buying organizations in your top vertical markets to hand pick the best possible targets for your Direct Marketing campaigns. While these companies have not yet purchased from you, they share many of the same characteristics of your best customers, and therefore will likely have a higher propensity to purchase your products or services. Step 4: Conduct Contact Discovery to identify the right buyers in your target accounts. With your target Accounts list compiled, youll need to identify prospects in the right roles within these companies. Make sure you verify more than just contact information and titles. To ensure you are getting to the right buyers as quickly as possible, identify your prospective buyers by their role in the organization and more importantly the buying process. Survey a sample of your contacts on their pain points, decision drivers, triggers, and trusted information sources. Gather as much information as you need to capture your prospects attention and communicate your value to them. Step 5: Execute a multi-modal marketing campaign to deliver the right message to the right buyers. Multi-modal Direct Marketing involves a carefully executed campaign that delivers targeted messages to buyers using their preferred means of communication. Not all buyers like to receive product information in precisely the same way, so its best to tailor your messages based on your buyers preferences. In fact, a recent Marketing Sherpa research project surveying 3000 IT buyers and vendors demonstrated that B2B Decision-makers or Executive-level buyers prefer to learn more about products via Webinars, whereas Contributors or End-users prefer white papers. Map out and execute your multi-modal campaign focusing on key vertical pain points with messages that appeal to each of your target roles. Start with an offer that requires a low commitment to respond like a white paper download and work your way up to a more involved call to action such as a product demo. Ongoing Marketing and Sales Pipeline Monitoring With this five-step process for Sales Win analysis, youll be able to laser-target your Lead Generation programs to produce more impressive Marketing metrics, align your demand generation programs with Sales, and improve your funnel efciency by driving greater revenue faster. Keep in mind, however, that just as customers and markets evolve, your Marketing programs must transform accordingly. This is why it is important to conduct Sales Wins Analysis at least quarterly so that you can monitor your pipeline closely to uncover new opportunities and spot trends. Maintaining visibility into your Marketing and Sales funnel will give you the insight you need to boost Marketing results and revenue. All of this sound a bit daunting? No worries, check out our Insight Lite product on the salesforce.com AppExchange: Or Schedule a Demonstration of ReachForce Insight Pro version and analyze not only your customer win data but also in funnel opportunities for trends.
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101 B2B Marketing and Sales Tips from The B2B Lead
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101 B2B Marketing and Sales Tips from The B2B Lead
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101 B2B Marketing and Sales Tips from The B2B Lead
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Easy to Take Lead Scoring Surveys Help Drive High Response Rates
When developing lead scoring survey questions that effectively determine need, interest, timing and budget, remember these things: Dont over use industry jargon and acronyms when crafting the questions Use simple and direct language Avoid use of passive messaging and sales pitches Offer as many multiple choice questions as possible Randomize presentation of multiple choices to avoid bias Design questions to maximize meaningful cross tab analysis Use as few questions as possible
For more info on lead scoring surveys check out my last post, Using Surveys for Lead Scoring.
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101 B2B Marketing and Sales Tips from The B2B Lead
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The Integrated Revenue Cycle: A New Model for Sales and Marketing
Theres always been a lot of drama around how marketing can best contribute to and improve the sales cycle. In fact, one common way to measure the effectiveness of a new marketing initiative is by looking for improvements in the sales cycle. Businesses have always focused on the sales cycle, so thats the way to go, right? Wrong! Companies need to stop thinking only about the sales cycle and instead focus on what I call the Revenue Cycle, which starts from the day you first meet a prospect and continues through the sale and beyond to the customer relationship. The old model of a linear handoff from marketing to sales must give way to an intertwined model where both organizations jointly own prospect relationships and coordinate their activities. To use an analogy, imagine a ghter jet that rst ran with just the left engine, then turned that engine off and lit up the right engine. Thats pretty inefcient compared to lighting both engines and going full speed! Before dening the revenue cycle in more depth, it is worth examining why the traditional sales cycle is the wrong model for businesses to follow. The primary reason is that the sales cycle looks at only a portion of the complete revenue process, and this presents two main problems: Looking at sales alone as the predictor of revenue is misleading with sales only, companies cant manage and guide growth beyond the current or subsequent quarter. The Sales cycle can usually predict revenue in the short term, but because the sales forecast is based on what a specic account will do at a specic time, it becomes increasingly inaccurate for predicting future revenue. Asking the sales organization which by denition is focused on revenue in the near term to predict revenue in future quarters is typically highly misleading. For this, a company should look to the function that is inherently focused on the long term: the marketing organization. Inefciencies are killing productivity and marketing budgets without the right processes in place, sales is less effective and companies are wasting marketing budgets. The traditional model of a sales cycle that begins when sales accepts a marketing lead or contacts a prospect directly results in waste and inefciency. It means as much as 50% of sales time is spent on unproductive prospecting, while reps simultaneously ignore 80% of marketing leads. Weve estimated that the resulting lost sales productivity and wasted marketing budget costs companies at least $1 trillion a year. The sales cycle mentality also ignores the fact that throughout the customer lifecycle (before, during, and after sales interacts with a prospect or customer), marketing has been and will continue to touch the prospect with marketing messages via the website, campaigns, advertising, and PR.
So how do you start driving your business by managing the Revenue Cycle? The Revenue Cycle requires coordinating marketing and sales activities throughout the entire cycle to generate maximum impact. The key is to realize that marketing and sales bring different strengths to the process. Marketing brings a long-term view, sales brings an action-oriented view. Marketing is good at one-to-many communications, automated processes, and dealing with lots of data; sales is good at building personal relationships and leveraging the human touch. The Revenue Cycle must start from the day a company first meets a prospect and continue through the sale and beyond to the customer relationship. As marketing and sales coordinate their activities as part of a unified Revenue Cycle, companies will get better at lead scoring and properly identifying and prioritizing opportunities. That creates better quality leads that result in easier and better quality sales cycles, with more wins and ultimately more revenue. While there will still be a time when primary ownership of a lead shifts, the Revenue Cycle eliminates the handoff from marketing to sales. Instead, both functions should be engaged in the right way throughout the entire Revenue Cycle: lead nurturing campaigns can come on behalf of the sales rep, marketing messages and the website can continue to support the sales process once sales does engage, and sales leads that go cold can be recycled back to marketing. With marketing and sales acting as equally important drivers of revenue, companies can gain a picture of the complete revenue process, ensuring that leads are properly nurtured and do not fall out of the cycle midway and get lost. Of course, truly replacing the sales cycle with a coordinated Revenue Cycle is easier said than done, but the benefits are clear: increased sales productivity, greater return on marketing spending, and better visibility into the long-term performance and health of the business. What company doesnt want to be able to better predict revenue and grow their business? The shift wont happen overnight, but the first step is changing our thinking and embracing the new model: the Revenue Cycle.
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101 B2B Marketing and Sales Tips from The B2B Lead
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About ReachForce
ReachForce delivers software (SaaS) and data services that enable B2B companies to laser target their lead generation programs. ReachForce solutions allow marketing and sales teams to target market sweet spots using CRM and website visitor data then reach the right buyers in these companies using role-based contact discovery services. ReachForce was created to ensure Marketers, keep their seat at the table. As a team of long time Marketers we decided we were tired of it being ok to be wrong 97% of the time. With marketing response rate industry averages being less than 3%, there is something fundamentally wrong with the way we as B2B Marketers have been driving lead generation initiatives. Response rates dont equal leads and leads dont always mean qualified buyers. At ReachForce, we dont care about or measure response rates, we drive and measure revenue delivered to the business from lead generation initiatives. By addressing the foundation of any marketing program, the data - or The WHO as we call it, ReachForce was founded with one goal in mind: to provide businesses with revolutionary, high quality, costeffective data to fuel their marketing and sales lead generation initiatives.
About Marketo
Marketo provides B2B sophisticated, yet easy marketing automation software that turns clicks into customers and translates marketing spend into revenue. Marketos award-winning marketing solutions provide email marketing, lead nurturing, lead scoring, and closed-loop reporting capabilities to help marketing and sales teams work together to generate and qualify sales leads, shorten sales cycles, and demonstrate marketing accountability. Driven by a relentless focus on customer success and touting the most innovative user experience in business software today, Marketo is emerging as the fastest-growing lead management vendor in the world. Marketos on-demand marketing products are easy to buy because they dont require complex implementation or upfront fees, easy to own because they dont require IT support, and easy to use without specialized technical skills or significant training. Pricing starts as low as $1,500 a month, and qualified customers who commit to running a production campaign can get started with a free trial that includes set-up, training, and integration.
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101 B2B Marketing and Sales Tips from The B2B Lead
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This is the fourth of a ve volume collection of B2B Marketing and Sales Tips from The B2B Lead. Below are the past and upcoming volumes. To download all 101 B2B Marketing and Sales Tips, check back in the coming weeks. Volume One: Online Marketing Volume Two: Direct Marketing Volume Three: Event Marketing Volume Four: Marketing and Sales Alignment Volume Five: More Marketing and Sales Tips
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