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10 Tips for Lead Tracking Best Practices

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					Ten Tips for Best Practice Lead Management
Only 25% of new leads are sales-ready. 25% are disqualified. How do you handle the remaining 50%?

The Case for Lead Management
A survey in RainToday.com’s report “What's Working In Lead Generation” found that for most companies only 1030% of marketing-generated leads were sales-ready. Respondents also reported an average of 25% of leads should be disqualified, but that the remaining 50% require “further nurturing.”

Source: RainToday.com

© 2007 Marketo - www.marketo.com

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So How Can You Tell?
How can you identify who’s qualified?
How can you identify who’s ready for sales? And what do you do with qualified leads that aren’t ready?

© 2007 Marketo - www.marketo.com

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Don’t Pass A Lead To Sales Before It’s Ready
Up to 80 percent of marketing-generated leads are ignored by sales. Sales reps are compensated for driving revenue this quarter, so leads that aren’t ready to buy are useless to them. Passing a lead prematurely means the sales rep will be more likely to ignore the next marketing lead he receives. And it annoys the prospect who probably doesn’t want a phone call yet!

© 2007 Marketo - www.marketo.com

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The Chasm Is Getting Wider
It’s only getting worse in a Web 2.0 world Ironically, the growth of the Internet has increased friction between sales and marketing. Buyers don’t wait for a sales person to call them anymore. They get all of their education on the Web. They’re using search, attending webinars, and downloading white papers. And as buyers increasingly use these online channels, marketing meets prospects earlier than ever in the buying process – often long before they are ready to engage with sales.

© 2007 Marketo - www.marketo.com

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The Answer: Lead Management
Lead management is the ability to: • Capture leads when they’re searching • Nurture leads that aren’t yet ready • Score leads so you know who’s ready for sales • Give leads to sales at the right time • Evaluate leads to close the loop on lead quality Done right, lead management creates more educated buyers, helps you better understand their needs, and ultimately means more revenue. So how do you do it right? Consider these Top 10 Tips for Best Practice Lead Management.
© 2007 Marketo - www.marketo.com 6

Nurture leads before sending them to sales
Lead nurturing is the process of using the Web, e-mail, phone, social media, and other online and offline channels to build relationships with qualified prospects who are not yet sales ready. Many leads are still in research mode, so emails and offers should provide best practices, statistics, research, etc. to help the customer frame their research. Lead nurturing: • Builds relationships with prospects • Creates understanding of needs • Facilitates lead scoring

“Lead nurturing is about matching the prospect's expectations with the sales rep's expectations; you want the prospect to be ready and willing to speak to the sales rep when that lead gets handed to sales.” – Modern B2B Marketing

© 2007 Marketo - www.marketo.com

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Use thought leadership to influence buying criteria
Lead nurturing is not just sending a monthly email newsletter to your entire database, or calling prospects every few weeks to see if they are ready to buy yet.
B2B purchases are, by their nature, complex. Buyers need help to see possibilities and issues they wouldn’t think about on their own. If you can help frame the discussion, you will be seen as a trusted advisor and thought leader. This will help buyers believe that your company understands their problems and knows how to solve them. Lead nurturing is your opportunity to demonstrate the value you can provide and to position yourself as a resource.
© 2007 Marketo - www.marketo.com 8

Work with sales to determine when a lead is “sales-ready”
Start your lead scoring process by working with your sales team to build criteria that determine the steps prospects should take before they are ready for a sales call.
Start by building your “perfect lead,” then work your way down. Criteria should include: • Demographic information – Geographic location, company size, etc. • Lead source information – PPC search terms, ad source, offer, etc. • Behavioral information – web page visits, white paper downloads, etc.

© 2007 Marketo - www.marketo.com

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Score leads using implicit behavioral data
In the Web 2.0 world, the prospect is in control of the buying process. You need to monitor their online activity to know when they’re ready to move to the next stage.
Let sales tell you which leads are good.

• Lead scoring should consider the prospect's interest level defined not just by their words but their actions. People’s actions speak louder than their words, and the two are often not in concert.

• For example, you should track email clicks, white paper downloads, and web page visits, and update scores accordingly.

© 2007 Marketo - www.marketo.com

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Give sales detailed information to ensure a seamless hand-off
Don't just toss the lead over the wall and leave it up to the sales rep to create a continuous experience for the customer.
• Let sales know what marketing activities the prospect has responded to, and indicate which product the prospect is most likely to purchase based on his responses to date. Create email templates, qualifying questions, and call scripts to guide sales reps during their initial contact with the lead. Be sure to refer to the marketing activities they have responded to, such as downloading an eBook.

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© 2007 Marketo - www.marketo.com

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Track sales follow-up; evaluate leads with sales’ input
By working with your sales team when creating your scoring criteria, you built goodwill with them. After that, you should regularly analyze the leads that were determined to be sales-ready to further refine your lead scoring criteria.
• Adjust lead score thresholds based on business conditions. • Make sure sales follows up with leads and reassign leads that don’t get contacted. • When leads aren’t closed by sales as expected, recycle them back into marketing for further nurturing.

© 2007 Marketo - www.marketo.com

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Track every marketing activity, not just lead source
Tracking every marketing activity is critical to understanding which marketing programs work. What programs directly contributed to sales? What programs generated the highest quality leads? Which programs had the greatest influence on pipeline?
It’s not enough to know only which program created the lead, or caused the lead to be sales ready. You need to know the impact of all the programs.

© 2007 Marketo - www.marketo.com

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Progressively understand your prospect’s needs
Just like dating, as you build a relationship with your prospects, you should also be learning more about their needs.
Every campaign the prospect responds to tells you about their interests. Every page they visit on your website tells you about their interests. Every link they click, and every piece of information they fill out on a form, tells you more about them.

Be clever with your forms – don’t ask prospects to enter information you already know, and use the opportunity to find out something new!

© 2007 Marketo - www.marketo.com

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Track anonymous visitors and tie their data to new leads
Simple code on your Web pages help you track prospects, whether anonymous or known. This helps tells you which companies are interested in your products.
As anonymous prospects complete forms on your website or landing pages, any previous web visits can be automatically attributed to the new lead. This is important to determine the sales readiness of new leads, since you know the entire history of the relationship with that prospect – including which campaign helped them find you in the first place.

© 2007 Marketo - www.marketo.com

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Develop & enforce data quality standards, including de-duplication
Demographic analysis has long been a part of the sales process, and the Web makes it easier to collect this information. Certain information such as company size can help you determine the lead score. With many demand generation and lead nurturing activities running concurrently, automatic deduplication is imperative. Forms which autocomplete if the visitor is recognized not only help your prospects but can also facilitate the collection of additional information for profiling and scoring.

© 2007 Marketo - www.marketo.com

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10 Best Practice Tips for Lead Management
1. 2. 3. Nurture leads before sending them to sales Use thought leadership to influence buying criteria Work with sales to define when a lead is “salesready” 4. Score leads using implicit behavioral data 5. Give sales detailed information to ensure a seamless hand-off 6. Track sales follow-up; evaluate leads with sales’ input 7. Track every marketing activity, not just lead source 8. Progressively understand the prospect’s needs 9. Track anonymous visitors and tie their data to new leads 10. Develop & enforce data quality standards, including de-duplication

© 2007 Marketo - www.marketo.com

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Where’s The Value in Lead Management?
• Fewer marketing-generated leads ignored by sales (from as high as 80% to as low as 25%). • Raise win rates on marketing-generated leads (average 7% points higher) and reduce “no decisions” (average 6% lower). • Prospects who are nurtured buy more, require less discounting, and have shorter sales cycles than prospects were not nurtured.

Research shows that revenue per deal increased by more than 8.5% after implementing lead management software.

Sources: Forrester Research, CSO Insights, Dreamforce 2007

© 2007 Marketo - www.marketo.com

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Lead Management Software
While some of this sounds simple, in reality it’s not so easy to manage leads and nurture prospects, especially if you generate a lot of leads.
But it is a task that can be automated in an intelligent way, freeing your marketing people to create content, programs and analysis. That’s where lead management software comes in.

© 2007 Marketo - www.marketo.com

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Lead Management Software
Lead management software automates the time-consuming tasks marketers have to do to effectively capture, nurture and score leads: • Email marketing • Campaign management • Landing pages and forms • Lead scoring and analytics • Data quality and de-duplication

© 2007 Marketo - www.marketo.com

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Dynamic & Flexible
Marketing is a dynamic job, and marketers need flexible, dynamic lead management software that lets them quickly and easily create and modify campaigns themselves, without requiring lots of training, IT assistance or outside consultants.

© 2007 Marketo - www.marketo.com

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Built for B2B Marketers
Unlike older demand generation applications that require tons of up-front investment, integration, and training, Marketo Lead Management was purpose-built for B2B marketers, and understands that marketers don’t want to design static workflows that are hard to change.

© 2007 Marketo - www.marketo.com

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Easy to Use
Marketo Lead Management works the way you do, with a drag and drop interface to create event-triggered and automated drip nurturing campaigns, create landing pages and smart forms that recognize known visitors, and build personalized emails in your templates.
And Marketo Lead Management is Softwareas-a-Service, meaning there’s nothing to download or install. You can be up and running without up-front fees in less than one day.

© 2007 Marketo - www.marketo.com

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Marketo Lead Management
• Complete email marketing functionality
– – Deliverability, opt-in management, bounce handling, etc. A/B testing

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Lead management
– – Lead database De-duplication

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Lead scoring / lead analytics
– – – Score when a lead is ready to engage with sales Demographic and behavioral scoring Tie anonymous web behavior to lead activity (“web caller ID”)

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Automated campaign management
– – Drip marketing campaigns Lead nurturing campaigns

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Landing pages and forms
– – – A/B testing Validation Recognize known visitors, progressive profiling

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Transparent connections with salesforce.com
– – – Automate tasks Track sales follow-up Recycle leads

© 2007 Marketo - www.marketo.com

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Learn More
To learn more about Marketo Lead Management:
Call: 650-655-4852 Email: info@marketo.com Visit our Website: www.marketo.com Visit our Blog: Modern B2B Marketing

© 2007 Marketo - www.marketo.com

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