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How to Improve Sales Productivity in 5 StepsDigital Sales Coverage
March 26, 2014Mike KelleherSVP, Strategic Solutions GroupMarketBridge
Joe BisagnaClient Development DirectorMarketBridge
©2014 MarketBridge Corp.– 2 –
MarketBridge Focus
MarketBridge delivers
technology-enabled digital
customer engagement and
analytics solutions to improve
Sales productivity and
Marketing effectiveness for our
Fortune 1000 clients.
RevenueEngines™Digital Engagement Programs
SMART™Predictive Analytics Platform
Digital programs and tools to increase lead volume, quality, and conversion-to-revenues while enabling sales channels to engage customers
Sales and Marketing Analytics, Reporting and Technology to optimize campaign yield, lead-to-revenue conversion by prioritizing opportunities and personalizing interactions
World-Class Clients Sales & Marketing Technology Platforms
©2014 MarketBridge Corp.– 3 –
Buyers are Changing Their Behavior
The Dilemma for Sales Effectiveness
Digital + Data = Sales Productivity
Gaining an Edge with Digital + Data
©2014 MarketBridge Corp.– 5 –
“57% of a typical purchase decision is made before a customer even talks to a supplier.”
CEB
“67% of the buyer’s journey is now done digitally” Sirius Decisions
“B2B buyers complain that only 29% of sales reps are well prepared to engaged with them”
IDC
MARKET RESEARCH
“76% of B2B customers prefer to receive content unique to their stage in the buying process”
Pardot/SFDC
©2014 MarketBridge Corp.– 6 –
How Do You Sell to Buyers in the Digital Age?
TraditionalMarketing Spend(media buy, direct mail, e-mail, teleprospecting, events)
TraditionalSales Spend(field sales, inside sales, resellers, agents, retail, e-commerce)
©2014 MarketBridge Corp.– 7 –
How Do You Sell to Buyers in the Digital Age?
TraditionalMarketing Spend(media buy, direct mail, e-mail, teleprospecting, events)
TraditionalSales Spend(field sales, inside sales, resellers, agents, retail, e-commerce)
DigitalNurturing• Search, mobile, social media• Content marketing, digital
communities• Sales enablement
DIGITALENGAGEMENT
CUSTOMERANALYTICS
+
SALESPRODUCTIVITY
=
©2014 MarketBridge Corp.– 8 –
“The State of the Union” for Sales
1 The Bridge Group; 2 National Sales Executive Association
❶ Goals Up, Headcount Down
• Corporate mandates prevent the old formula of More Revenue = More Headcount
• Even less expensive sales channels like Inside Sales need to prove more value
❷Increasingly Inefficient “Talk Time”
• Required sales call volume has doubled to make contact with a prospect
• For Inside Sales…1,000 outbound calls generates only 32 real leads1
❸ Ignored Accounts = Ignored Revenue
• 48% of sellers never follow up after first touch2
• Disqualified leads (“Not Ready to Buy”, “Insufficient Funds or Authority” ) are too expensive and time consuming to nurture
• Yet, these leads represent too much revenue potential to be left untouched by sales
©2014 MarketBridge Corp.– 9 –
Priority: LowPreference: Digital
Priority: LowPreference: Digital
Priority: LowPreference: Digital
Matching The Buyer Journey – Low Priority Prospects
Week 1 Week 3 Week 5 Week 7 Week 9
Prospect in the call queue, assigned a territory rep. Gets an unsolicited call that sends to voicemail.
Several outbound calls received. All voicemail. Susan has done some online research but she’s not ready to engage via phone.
Final calls land in Susan voicemail. She’s tagged as inactive lead.
SUSA
N
©2014 MarketBridge Corp.– 10 –
Priority: LowPreference: Digital
Priority: LowPreference: Digital
Call Priority: LowPreference: Digital
Call Priority: HighPreference: Digital
Matching The Buyer Journey – Nurture + Triggers
Week 1 Week 3 Week 5 Week 7 Week 9
Prospect lands in the call queue. Sent email with some persona-specific content
Receives email with a relevant CTA; downloads whitepaper. He hits multiple product webpages
Retargeted with display ads, keeping offering top of mind. Does not click through. Receives call, does not answer.
Clicks through a social post offering Buyer’s Guide. Views more web content correlated with sales readiness
An email custom to buyers guide precedes a phone call that James takes. He books a meeting with a sales rep.
SUSA
NJA
MES
©2014 MarketBridge Corp.– 11 –
Lifting Sales Productivity Through Digital
Engagement and Customer Analytics
Prioritize SalesCall Patterns
EngageCustomers Digitally
•Analytics driven
•Sales-ready
•Likelihood to convert
• “Not ready to buy” prospects
• Low cost coverage
• Systematic lead qualification and scoring
Feed Sales Quality Leads
• Trigger-based
• Fed into SFDC
• History of digital engagement
TRANSITION
©2014 MarketBridge Corp.– 12 –
The Economic Potential
For every
100 inside
reps…
25% increase in rep sales productivity
$1.4M+ in potential labor savings
60%+ increase in per rep quality talk time
17,600 more quality conversation hours
20% lower cost-to-sell
Lower cost per conversation by $5
Up to 20-25% lift in overall sales production
2.5X more touches of nurtured prospects at 81% lower cost
©2012 MarketBridge Corp.– 13 –
.
Dramatically Improve Sales Productivity in 5 Steps
Digital Sales Coverage
STEP 2
TargetHighest Value
Customer Interactions
through Analytics
STEP 1
Quantify the Business Case
& Build the Launch Plan
STEP 3
Launch Digital Engagement Programs to Engage Early
Stage Prospects
STEP 4
DeploySMART™
Analytics to Continually Feed
Reps the Best Prospects
STEP 5
Engage Prospects in aContent-Rich
Community and Build Data Asset
©2014 MarketBridge Corp.– 14 –
What’s Your Economic Potential?
• Web-based calculator
o www.market-bridge.com/digital-sales-coverage-roi-calculator
• Scenario planning
• 6 customized inputs
• 7 business-impact outputs
©2012 MarketBridge Corp.– 15 –
Benefits of Digital + Data Programs
Increased Revenues and Customer Lifetime Value
Expanded Customer Reach and Response
Reduced Cost-to-Sell
Deeper Customer Insight
Improved Customer Experience
©2014 MarketBridge Corp.– 16 –
WEB TOOL
What next?
OnlineDigital Sales Coverage
Calculator
OUR COMMUNITY NEXT EVENT
April 16th
Webinar“Is Marketing Automation Failing You…or Vice Versa?”Be wary of Shiny Object Syndrome
www.market-bridge.com/calculators/sales The-digital-bridge.com
Presented by:Kelly WaffleDigital marketing and technology practice lead