Start with a lead Lead Generation for the Complex Sale

Start with a lead. Lead Generation for the Complex Sale Brian Carroll, CEO of InTouch, Inc. and author of Lead Generation for the Complex Sale (McGraw-Hill 2006) It’s not how you sell…it’s how they buy A Simple Buying Process Model Status Quo Recognition of Needs Evaluation of Options Resolution of Concerns Implementation Buying Decision Buyer recognizes a problem. Buyer defines range of solutions. Buyer determines decision criteria. Buyer assesses alternatives. Buyer identifies and resolves perceived risks. Buyer negotiates final terms. Buyer implements chosen solutions. Mindset: Conversations vs. Campaigns • Become a trusted advisor – They know you and had a consistent dialog – You are credible – They believe you can help them – They like you and want to work with you “How you sell me is how you will serve me” Lead Generation = Building Relationships Identify the right people and companies Initiate a memorable conversation Nurture them, regardless of timing to buy Bonus Tip: 90% of B2B customers want their sales person to be more of a resource. - Cahners Study Identify - Whom Do You Target? Champions for your solution Influencers for your solution In a complex sale, 70% of brand perception comes from direct contact with a sales person. Economic Buyer’s Sphere of Influence Internal Team Members Other Departments Project Priorities Business Unit Leaders Economic Buyer Industry Affiliations Consultants and Advisors Business Analysts Business Media and Journals Other Suppliers External Your Database is a Valued Asset Target Company Identify Firmographics & Compile Notes Best Buy Company Lead Classification Industry Employees Sales Assigned Rep Company Notes Company Web URL Identify Headquarters & Sites Minneapolis Site Type Site Address Site Qualification Site Web URL New York Site Type Site Address Site Qualification Site Web URL Dallas Site Type Site Address Site Qualification Site Web URL Las Vegas Site Type Site Address Site Qualification Site Web URL Data Sources www.jigsaw.com www.linkedin.com www.infousa.com www.dnb.com www.hillsearch.org Brian Carroll CIO Michelle Passe Dir. eBusiness Lead Classification Contact Info Conversation Notes Qualification Responses Qualification Comments Contact History Pat Lorch VP, Supply Chain Lead Classification Contact Info Conversation Notes Qualification Responses Qualification Comments Contact History Identify & Qualify Contacts Lead Classification Contact Info Conversation Notes Qualification Responses Qualification Comments Contact History Initiate: Multi-modal Source: Lead Generation for the Complex Sale (McGraw-Hill 2006) Lead Nurturing Defined Lead nurturing is a relevant and consistent dialog with viable potential customers, regardless of their timing to buy. “So, are ya ready to buy yet?” This isn’t being relevant Spectrum for Sales Lead Definition Level 1 A response from an individual to a marketing campaign, or someone who has taken proactive steps to demonstrate interest in your message, product or service. A meaningful interaction (via phone or email) with an individual meeting the requirements of a fully qualified company and audience. Level 2, plus the individual demonstrates a specific need for and interest in your product or service. Level 2 Ready for Sales Pipeline Level 3 Level 4 Level 3, plus the individual is in the process of defining a requirement for your product or service. Level 5 Level 4, plus the individual has the responsibility, budget and a defined timeline for purchase. Source: SiriusDecisions Lead Spectrum 2006 Lead Metrics Study (used with permission) Lead Nurturing Strategy • • • • • Who do we nurture? (Level 2) Filter and Organize Content Message development Define tactics for execution Execution Schedule Set (monthly) Educational Content is King Building Lead Nurturing Library • Gather, Filter and Organize Relevant Content – 3rd party, articles relevant topics, research reports – Vendor agnostic podcasts, webinars, blogs, case studies to position sales team as “trusted advisor” – Company specific white papers, success stories, webcasts • Lesson Learned: – Reuse available content before creating new content – Filter 3rd party content for a nurturing “library” using free sources http://www.google.com/alerts Lead Nurturing Tactics Lead Nurturing Timeline Initial contact Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Introductory phone call and follow-up “thank you” e-mail 3rd party article on virtualization via e-mail and voice mail 3rd party article on server consolidation via e-mail with follow-up Link to relevant IDC analyst podcast via e-mail with follow-up call Link to relevant expert podcast via e-mail with follow-up call Relevant white paper via e-mail with voice mail Targeted campaign via direct mail 3rd party article on pertinent technology via e-mail Invitation to webcast via e-mail with follow-up call Free report via direct mail with follow-up call Invitation to seminar via e-mail with follow-up call Link to relevant HP Podcast via e-mail with follow-up voicemail Industry relevant case study via e-mail with follow-up call Email Nurturing: One-to-Many Template driven To: From: Subject: Hi Bill, (Recipient) (Sender) Article on virtualization for executives Send article of interest I thought you might find this recent article on virtualization relevant. It provides a strategic overview that is written more for executives. “FAQ: Detangling virtualization” http://news.com.com/FAQ+Detangling+virtualization/2100-7339_3-6177447.html We've been helping a number of companies decide when exactly to use virtualization and how to avoid the "all my eggs in one basket" concern that this article brings up. Integrate w/ CRM Personalize from assigned Rep Best Regards, Brian Carroll Email Nurturing: One-to-One Invite to event Combine personal phone call Webinars and Live Events Reach People Earlier in Buying Process Content is King Recorded live event for Podcast series Social Media: Podcasts and Blogs • High-value content with educational intent • Leverage thought-leader and partner relationships for content • RSS is hot Effective Relationship Management Teleprospecting, Events, Email Campaigns, Podcasts, Website Inquiries (Level 1) Not a Fit Marketing Pipeline Nurturing (Level 2) Level 3,4,5 Leads Returned Prospects CRM Sales Generated Leads Existing Clients Closed Loop Feedback Handoff Sales Ready Leads Sales Pipeline Customers Measure ROI Tracking ROI from Lead Nurturing Regular pipeline analysis • • • • • # and depth of touch points identified and engaged % conversations provide opt-in e-mail addresses % of early stage leads actively nurtured (levels 1 and 2) % of leads handed off as sales ready (levels 3, 4, and 5) % sales pursuit rate after hand off Sales reporting • Closed loop feedback • Conversion rates by sales stage • Calculate investment per sale Questions? Read my blog: http://blog.startwithalead.com Website: http://www.startwithalead.com Questions: bcarroll@startwithalead.com Book: www.leadgenerationbook.com