Eloqua Experience Presentation on Sales-Marketing Alignment at Basware

Eloqua Experience, London, June 2013

PLUGGING (HOLES IN) A LEAKY FUNNEL“Process and automation increase lead volumes, improve

quality and significantly increase SALs at Basware

”

Ceri JonesMarketing DirectorBasware UK [email protected]

About me

• 30 Years B2B Marketing• Enterprise solutions/ SaaS background• Focus on integrated marketing: demand

generation, content marketing, funnel management and marketing automation

• Marketing ROI Evangelist – analytics culture

• Basware Field Marketing since 2011• Now driving the Demand Center roadmap

• Contact:• http://uk.linkedin.com/in/cerijones/• j_ceri (T)• [email protected] (g+)• [email protected]• www.cerijones.me


What I’d like to cover

• The Business Challenge• No Lead Left Behind (NLLB) Scope• Sales-Marketing Alignment

–Pipeline Management Process/ SLA–Lead Handover–Escalation & Reporting

• Lead Scoring/ Nurturing Pilot• Benefits to date



Basware - Driving financial performance forward

Reduced invoicing costs by

75%

Cut 3rd party spend by

10%Receive

97%of invoices as electronic invoices

Reduce costs of Accounts Payable function by

60%

Process over

90%of invoices without any manual intervention

Pay over

85%Of suppliers within 7-10 days to capture discount

Reduce costs of processing expense claims by over

50%

Basware provides open, secure, cloud-based purchase-to-pay and e-invoicing solutions to organizations of all sizes, resulting in greater efficiencies in procurement, accounts payable and accounts receivable.

Companies use Basware solutions to drive sustainable cost savings, proactive insight to cash flows and improved buyer–supplier relationships.


History• Founded 1985• Publicly listed 2000• Offices in 14 countries

around the world• Growth through

acquisition

Corporate performance• Net sales >€120m• 1,400+ employees• Partners in 30+

countries• >1m users in 2,000

customers, >60 countries

The Open Network• 1.9m suppliers listed• 0.8m active buyers/

suppliers• $254b total annual

spend across network

Basware in Numbers

THE PROBLEMEloqua Experience, London, June 2013

The Business Challenges

€s locked up in dormant leads & opportunities

Low confidence in sales forecasting threatens business predictability

Process disconnect & lack of accountability

Inconsistent working practices in lead management

Poor insight into conversion ratios and pipeline velocity

Blocked Funnel!€€€€€ locked up in dormant leads &

opportunities


The Sleeping PipelineAgeing of 10% Winning Probability Sales Opportunities

Opportunity Created(From Marketing Sourced Leads) Count

Jan-11 8Feb-11 14Mar-11 9Apr-11 7May-11 59Jun-11 89Jul-11 45Aug-11 45Sep-11 34Oct-11 27Nov-11 5

Total 342

28% older than 6 months81% older than 3 months

35% not modified* in last 90 days49% not modified in last 30 days

Marketing Qualified Leads Piling up

Decem

ber 2

011

Dormant O

pportunity

Revenue

(no activity

or update in

last 6

months)

March 2012


SQOs stuck at the to

p of the fu

nnel

NLLB PROJECT“No Lead Left Behind”

Service Level Agreement

Technology & Platforms

Business Control & Insight

Data Management & Quality

Sales & Marketing Process

NLLB



The Process Challenge: Sales & Marketing are not always aligned!!

Tuesday, 9:30 | Campaign eBlaster 101


“Hey Sales, how are the leads?”


“They suck and we need more of them.”


Work Stream: Sales & Marketing Process

Objectives:

1.Agree a Basware-wide process to manage the Sales and Marketing pipeline, from lead creation to closed opportunity and clarify naming conventions

2.Define how the process should be executed at a detailed level in supporting systems. Identify weaknesses in the current system support for the process and recommend changes

3.Recommend target metrics for each of the stages in the process and document the process and the metrics in an SLA between Sales & Marketing

4.Recommend how training and adoption of the defined process should be managed

ALIGNMENT

“Revenue is a team sport”Bob Apollo, Inflexion-Point


Marketing and Sales High Level Process

CONVERT

Lead Opportunity

Pre-lead‘Sales Ready’ Lead

OpportunitySO-10

(Qualified Prospect)

OpportunitySO-50

(Proposal Given)

OpportunitySO-70

(Decision Due)

OpportunitySO-90

(Pending Sale)

WinNew Marketing

Lead Lost

OpportunitySO-0

(Marketing Prospect)

Pipeline

System

Eloqua

CRM

ReportingEloqua

Google etcSQL Server Report

(CRM Data)SQL Server Reports & Sales Analyzer

(CRM data)

ProcessCustomer

for LifeSales Opportunity ManagementLead Handover

Lead Qualification

Lead Creation

OwnerMarketing Sales Basware

Tele-qualification


The devil’s in the detail!

ALIGNMENT


Focus: Lead Handover & Recycling

• Agreed levels of qualification (B.A.N.T.)• Formal process• Established expectations• Common pipeline definitions

• Rejected lead management – lead nurturing

• Clear rejection reason codes• Formal re-qualification process

ALIGNMENTEloqua Experience, London, June 2013

LEAD SCORING & NURTURINGUK Pilot

Downloaded a white paper

Need connects

well with our solution set

Has signing authority for

up to $50,000

Presence in four foreign

countries

Has spoken once to

inside sales

Four call centers in the U.S.

Vice president of

sales

Plans to buy within six months

Last interacted

three months ago

Has not committed

formal budget yet

$120 million company

1,530 Employees


Nurturing and Scoring

• Basware nurture offers contacts who have completed form content appropriate to their job role and buying cycle stage

• Our nurture targets ‘top of funnel’ early interest only– 4-stage automated email – brings people back to the site

• Engagement with emails and web content drives the lead score

• Scoring automates the means of comparing web visitors to our ‘ideal customer profile’

• Our ideal profile is based on authority and readiness to influence or buy products and services from Basware

• Scoring measures both behaviour and explicit data requested in forms

• Form data is presented progressively on each ‘high value’ download


Nurturing Scoring

Outbound

Contact Database(Eloqua)

Inbound

Top-of-funnel Nurture

AP Operations Finance Manager/ Controller CFOPurchasing/ ProcurementITSMB

Automated Top of funnel Nurture Persona-based

Scoring

Inside Sales follow upReach threshold

Score

Landing page

Progressive Form



Scoring drives a lead rating

Qualification

Level(fit)

Interest

Level(buying

behavior)

Lead Rating

A

BBC

Lead rating drives ownership

C

D

D

B

C

D

A

B

C

Low Medium High

High

Medium

LowInterest Level

Qua

lific

atio

n Le

vel

Marketing Qualified Lead (MQL)


Progressive Profiling


Explicit lead data captured to support NLLB Process


What did we learn from the pilot?

• Scoring should act as a continuous measurement, not as a ‘sluice gate’

• More work needed on aligning content to personas and buying cycles

• Nurture rules should not be too tight initially – or everyone can be qualified out immediately!

• Test, Test, Test progressive forms and Subject LInes!

• Start and learn. It will never be ‘perfect’.


RESULTS TO DATE


Service Level Agreement

SALES : MARKETING MARKETING : SALES

Sales will receive sales-ready leads from Marketing in a timely manner once all lead qualification criteria are met.

Marketing requires Sales to review all sales-ready leads (which are CRM opportunities with the Sales Process Status of ‘Marketing prospect’) in the timeframe specified in the SLA. Leads which are qualified to the agreed standard should be accepted by changing their status (see next process step). Leads to be rejected should follow the process detailed below. Sales-ready leads should be processed in 3 working days.

Sales-ready leads should be handed over as soon as all criteria are met. All marketing leads converted to opportunities by Marketing will be measured in pipeline reporting.

Sales should process all leads within 3 working days by accepting or rejecting them.


Escalation & Reporting

‘All opportunities that are still set to a Sales Process Status of ‘Marketing prospect’ after 3 working days will trigger an email alert to the opportunity owner. Sales Management will receive weekly reports on all opportunities that do not conform to the SLA. Escalation will be managed through normal line reporting practices.’

Escalation Example


Project Roadmap

Scope/Build Deploy Measure Refine

Phase 0 Phase 1 Phase 2

Today

Forming

Phase -1

Mar 2012 Feb 2013

• Process definition & agreement• Service level agreement• Business reporting• CRM/Eloqua changes• Training materials

• Process change communication• Management training• Field training• Change management • Exception reporting

• Performance against objectives• Corrective action• Process improvement


Benefits from starting the journey

1.Pipeline Dynamics

Pipeline Conversion ConversionTarget

Actual Conversion

FY2011Conversion

MQL to SAL 54% 62.7% 43.6%SAL to SQO 39% 34.9% 57.5%SQO to Order (CRM) 24.3% 23.0% 24.3%

2012 2. End-to-end reporting

3. Education


NLLB Performance Since Go-live - Q1’12 versus Q1’13

PIP

EL

INE

VE

LO

CIT

Y

Q1’2012Average No. Days

84


53Q1’2012

Average No. Days

31


7

NML to SAL

SAL to SQO

LE

AD

PR

OD

UC

TIV

ITY

Q1’2012

2,800Q1’2013

3,300

Q1’2012

250Sales Accepted Leads

Q1’2013

590*

New Marketing Leads 18%

136%

LE

AD

CO

NV

ER

SIO

N NML to MQL*Q1’2012

3%Q1’2013

17%

MQL* to SALQ1’2012

3%Q1’2013

17%

SAL to SQOQ1’2012

39%Q1’2013

40%

*Equivalent to SRL in 2013


Small steps…

‘Every day you may make progress. Every step may be fruitful. Yet there will stretch out before you an ever-lengthening, ever-ascending, ever-improving path. You know you will never get to the end of the journey. But this, so far from discouraging, only adds to the joy and glory of the climb.’

Sir Winston Churchill (1874 - 1965)

ALIGNMENTSales & Marketing

No Lead Left Behind


NO LEAD LEFT BEHIND

Thank you

Ceri JonesMarketing DirectorBasware UK [email protected]@ j_ceri
