Lead Nurturing and Lead Scoring Software Accelerates Buying Cycle

Lead Nurturing and Lead Scoring:Accelerating the Buying Process

Presenters: Troy BurkFounder, PresidentRight On Interactive@troyburk

Dave MorseE-Marketing ManagerDelta Faucet@davemorse

Bo LoweryCommunications ManagerWild Birds Unlimited@loweryb

Jeremy WilliamsInteractive Production ManagerIndiana Office of Tourism Development@JeremyAWilliams

Right On Interactive

ROI Customer Lifecycle Marketing™ solutions transform the

way marketers nurture business relationships

• Win and Retain More Customers

• Maximize the Lifetime Value of your Customers

• Optimize Your Marketing Effectiveness

Lead Nurturing and Lead ScoringOver the next twelve months, how will

you cultivate leads that have interest,

but are not sales-ready?

Over the next twelve months, how will

you score leads to decide which ones

are passed to sales?

A. Sales is responsible for nurturing leads

B. Marketing communicates with leads periodically

C. Marketing communicates with leads systematically

A. Leads go directly to sales

B. A subjective process for scoring leads

C. A formal process for scoring leads

2010 Marketing Survey

32%

30%

38%

Lead Nurturing

Count of Sales is responsible for nurturing leads

Count of Marketing communicates with leads periodically

Count of Marketing communicates with leads systematically

46%29%

25%

Lead Scoring

Count of Leads go directly to sales

Count of A subjective process for scoring leads

Count of A formal process for scoring leads

Source: Right On Interactive Survey

Over the next twelve months, how will you cultivate leads that have interest, but are not sales-ready?

Over the next twelve months, how will you score leads to decide which ones are passed to sales?

Lead NurturingLead Nurturing is a process by which leads are tracked and developed into sales opportunities by sending automated, timely, and targeted communications.

Companies that Excel at Lead Nurturing: • Decrease the percentage of marketing generated leads that are ignored by sales• Raise the win rates on marketing generated leads and reduce “no decisions”• Have more sales representatives who make quota• Decrease the ramp-up time for new sales representatives

Lead ScoringA method to quantify and prioritize the potential value of each prospect or lead

Explicit Scores (Profile) are based on information provided by or about the prospect—for example, company size, industry segment, job title or geographic location.

Implicit Scores (Engagement) are derived from monitoring prospect behavior; examples of these include Web-site visits, whitepaper downloads or e-mail opens and clicks.

Quadruple Response with Lead Nurturing

0

1

2

3

4

1 2 3 4 5 6

5%

10%

15%

20%

0%

Predictable & Repeatable

Source: Sirius Decisions

One percent improvement in Marketing Qualified Leads can lead to a 50% increase in revenue

According to industry research firm Aberdeen Group, companies with best-in-class lead prioritization and scoring systems have a 192 percent higher average lead qualification rate than those that do not.

Delta FaucetRight Person, Right Message, Right Time

Delta Faucet Company

• Dave Morse, E-Marketing Manager

• HQ in Indianapolis

• B2B – Large wholesalers & “big box” retail

• 3 product lines

• Many targets: builder, plumber, architects, etc.

The Situation

“Right person, right message, right time”

• Nurture campaigns

– Build relationships / earn business

• Challenge: Data

– No “single source of truth”

– Poor data quality

– No centralized campaigns

– Unsophisticated segmentation

Impact

• Impersonal messaging (“batch „n blast”)

• Limited intelligence & visibility

• Highly inefficient to manage & utilize contact data

• Stumbling block in achieving nurturing program

The Solution

Step 1: Consolidate Data

• Consolidate multiple “silos”

• Salesforce.com & Right On Interactive

Step 2: Map Lifecycles

• Six stages (generic)

– Pre-sale: Initiate | Develop | Convert

– Post-sale: Adopt | Value | Advocate

Scored by profile “fit” and engagement

Step 3: Define Programs• “Stay In Touch”

– Information & education

– Good for: Showrooms

• “Accelerator”– Nudge, nudge

– Good for: Architects, Designers

• “Lead Lifecycle” – No stagnation

– Good for: Builders

Need to be adaptive!

Adjust message & cadence

based on behavior

Accelerator Example: Trade

• Campaign: “Saved Items” registration

– Promote professional acct.

– Earn +20 points

– Day 1 – “Welcome” / Pro Resources

Accelerator Example: Trade (cont.)

• Campaign: “My Projects”

– Architects using “Saved Items” > 2x

– On 3rd use – “Introducing My Projects”

Accelerator Example: Consumer

• Campaign: Drive Purchase

– Promote where to buy

– Earn +10 points for “Saved Items” reg.

– Day 1 – “Welcome” / Quick website tour

Accelerator Example: Consumer (cont.)

• Campaign: Drive Purchase

– Day 5 – “Where To Buy” email

E-mail Showroom Locator

Accelerator Example: Consumer (cont.)

• Campaign: Drive Purchase

– If they do click-thru

• Wait 5 days – Send “Did you buy?” survey

– If they do open but do not click-thru within 1 month

• Wait 2 weeks – Send “Find Your Perfect Faucet” e-mail

– If they do not open within 1 month

• Week 4 – Send reminder e-mail

Wild Birds UnlimitedNurturing Customers to Increase Loyalty

Summary

• Results

• Unexpected

• Planned enhancements

• Franchise System

• Nearly 300 Retail Stores

• Owner/Operators

• Diverse habitats, birds, diverse marketing needs

• 2001: 1st ExactTarget Enterprise Client

• 225+ Franchisees use ExactTarget Lock & Publish Account

• 2007: Partnership with Right On Interactive

• “Email is the most used marketing tool we offer.”

“Get the customers back in the store.”

• Integrated POS Data Drives Email Automation

• Nurture Campaigns for:– Retention

– Recency

– Customer Win-Back

– Loyalty Program

Retention Campaign

• Goal: Nurture

customer relationships

• Franchisees

customize and send

from L&P accounts

Recency Campaign

• Goal: Decreasetime between firstand second visit

• Triggered offer via email 7 days after initial customer visit/purchase

Win-Back Campaign

• Goal: Recover

“newly lost” customers

• Triggered incentive via

email if no purchase

within last 4 months

Loyalty Campaign

• Membership-based loyalty program

• 25% of customers are members

– These customers account for:

60% of Total Sales

Loyalty Campaign

• Goal: Increase Participation and Renewal Rate

• Triggered

– Reward Reminders

– Membership Renewal Offers

• Next Steps for Automated Email Program

– Refine based on campaign results

– System-wide launch by early 2011

– Additional triggered emails based on customer behavior

Visit IndianaNurturing and Scoring Leads with Foursquare & ROI

What is IOTD (Visit Indiana)?

• Tourism marketing arm for the State of Indiana

• Tourism brings > $10B and 62M visitors annually

• Budgets shrinking

• Doing more with less

Conversion Challenges• No on-site sales = no solid ROI

• Tracking Soft Metrics– Website Stats

– Brochure Orders

– Fans

– Retweets

– Shares

• Siloed Customer Info

• How to reconcile?

3.3k 5k 70k 70k

1k

What is ? Why use it?• Location-based mobile application

• Users check-in, share location with friends

• Add Tips to locations

• Most check-ins = Mayor

• Discounts for checking-in, becoming Mayor

• Foursquare.com/VisitIndiana shares tips with our followers

• Perfect fit for tourism-related organizations

Nurturing Leads w/ & ROI • Fall Leaf Cam

• Intro email to followers – explain promotion

• Followers check-in at Leaf Cam

• Send email via ROI when user checks-in

• Exclusive discounts & traffic-driving message

• Emails contain links to social media and email

• Ability to re-send emails to users

• Sensitive to over-communication

Scoring Leads w/ & ROI • Followers check-in data via ROI

• Follow up with followers via Twitter and Email

• Request photos, videos, tips & blog posts from most engaged followers

• Track redemption rates for exclusive coupons

Engagement Scores

Foursquare Check In: 15 pts.

ET Email Click Through: 7 pts.

Twitter Follower: 5 pts.

Conclusions

• Integrate Siloed Databases

• Track actual consumer locations

• Go beyond soft metrics

• Track actual $ return

• Social Media isn‟t scary

Jeremy Williams

@JeremyAWilliams

@VisitIndiana

Action Items• Define the stages and gate criteria for your customer lifecycle

• Consolidate multiple “silos” into a professional marketing database

• Develop a process for marketing to systematically nurture leads and customers

• Provide weights and values for profile and engagement scores

• Align marketing programs, campaigns, and tactics based on “where they are in the relationship”

• Go beyond soft metrics and measure ROI, stage duration, and stage churn rate

• Incorporate social media to close the loop

Q & A Troy BurkFounder, PresidentRight On Interactive@troyburk

Dave MorseE-Marketing ManagerDelta Faucet@davemorse

Bo LoweryCommunications ManagerWild Birds Unlimited@loweryb

Jeremy WilliamsInteractive Production ManagerIndiana Office of Tourism Development@JeremyAWilliams