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Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Lead Lifecycle Management7 Steps from Prospect to Revenue
Oracle Confidential – Internal/Restricted/Highly Restricted
Sylvia JensenSr. Director of EMEA MarketingOracle Marketing Cloud20th May 2015
@smajensen
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Agenda
1
2
3
4
What’s Changed: Why Lead Lifecycle Management is Important
Ground Zero: Sales and Marketing Alignment
The 7 Steps from Prospect to Revenue
Continuous Optimisation: Why You’ll Never be ‘Done’
Oracle Confidential – Internal 3
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
What’s Changed?
Why Lead Lifecycle Management is Important
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
What’s Changed?Buying Evolution
“…customers’ buying processes have evolved. How we market and how we sell, has to evolve too”
“…power is now with the
customer… marketing and sales have to align”
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Digital Body Language
How frequently a prospect interacts with your company and content is key to determining true buying interest.
@smajensen
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Ground Zero
Sales and Marketing Alignment
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Ground Zero: Sales and Marketing AlignmentWhat needs to happen before lead lifecycle management
SalesOpportunitiesWin RateQuota Attainment
Traditional MarketingResponsesClicks/VisitsVolume of leadsCosts of programmes
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Marketing
validates
quality of
interest
Marketing
nurtures to
sales ready
Sales
validates and
accepts
ownership
Sales
validates
BANT criteria
Sales closes
revenue
opportunity
InterestCustomer Buying
ProcessEvaluate PurchaseLearn Justify
Marketing &
Sales Process
Ground Zero: Sales and Marketing Alignment
SUSPECT INQUIRY MQL SAL SQO CLOSED
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
7 Steps from Prospect to Revenue
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
The 7 Steps to Lead ManagementOverview
Improve Marketing Efficiencies
Enable Sales
Improve Lead Quality
Do Effective Nurturing
Improve Targeting & Segmentation
Measure Marketing Effectiveness
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 1: Understand your BuyerThe customer’s journey – Ideal Customer Profile
Interest Evaluate Justify Purchase
Has anybody
checked out…?
I’m trying to
figure out
… ?
map their journey….
I’m trying to
figure out… ?
Any
suggestions
on where I
can find… ?
Oh no! I’ve
just…
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 1: Understand your Buyer
Interestingly, Facebook is the largest contributor for both B2B and B2C. And, while the traffic from social networks is still a small portion, it
appears to be a promising channel.
Market reach is growing from social channels
Closed
Won
Inquiry
SAL
SQO
Suspect
Source: Eloqua’s April 2011 Benchmark Report, pg 7
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 2: Segment your Database
• Geographic
• Demographic
• Psychographic
• Behavioural
• Occasion
Deliver the right message at right timeImprove Targeting & Segmentation
Closed
Won
Inquiry
SAL
SQO
Suspect
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 2: Segment your Database
Less is more. Smaller segmented batches perform better than larger presumably non-segmented batches.
Precisely, targeted marketingImprove Targeting & Segmentation
Closed
Won
Inquiry
SAL
SQO
Suspect
Source: Eloqua’s April 2011 Benchmark Report, pg 7
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 3: Improve Marketing Efficiency
By offloading marketing staff of manual tasks associated with lead generation, scoring, nurturing, event management, and
other tasks, each person can be more productive.
Automate repetitive steps
Source: Eloqua’s April 2011 Benchmark Report, pg 7
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 4: Score your Leads
Lead scoring is a method of assigning points to each prospect you come across.
Score determines action.
Get the right leads to sales - fast
Will improve win rates, revenue and helps cement sales and marketing alignment.
Closed
Won
Inquiry
SQO
Qualified
Lead
(MQL)
Sales
Accepted
Lead (SAL)
Suspect
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 5: Nurture your Contacts
Best-in-class companies employing automated nurturing, plugging a leaky funnel, realising growth, whilst laggards not
using nurturing are seeing a decline in leads.
Nurturing keeps your brand top-of-mind
Source: Eloqua’s April 2011 Benchmark Report, pg 7
Do Effective Nurturing
Closed
Won
Inquiry
SQO
Qualified
Lead
(MQL)
Sales
Accepted
Lead (SAL)
Suspect
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
of leads are followed up on by sales
reps.
20%
70% 80%
of leads followed up on
are disqualified.
of disqualifiedprospects go
on to buy from
someonewithin the next
24 months.(Research: SiriusDecisions)
Lead nurturing. . . . . . the process of cultivating leads who are not yet ready to buy.
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Case study: McAfee
Challenges:Many leads generated, but not all quality leads.
Marketing effectiveness to improve sales pipeline.
Engaging prospects throughout buying process.
Solutions:
Eloqua Lead Scoring.
Automated Lead Nurturing
Program.
Director of McAfee’s Global Demand Centre, Alexandre Papillaud, has said:
The implementation of Eloqua’s lead scoring and lead nurturing programs has really moved us forward in our marketingevolution.
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Lead scoring in action.
The world’s largest dedicated technology security company, McAfee reaped the rewards of a lead scoring (and lead nurturing) program from Eloqua (part of the Oracle Marketing Cloud). The company . . .
35%Reduced leads 35% while improving overall quality.
x4Increased lead to
opportunity conversion rate times four.
Tightened marketing and sales alignment.
>
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 6: Enable SalesMarketing intelligence for sales action - alignment
Enable Sales
Closed
Won
Inquiry
SQO
Sales
Qualified
Opportunity
(SQO)
Suspect
MQL
SAL
Closed
Won
Prioritised view of
most engaged
prospects
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Step 6: Enable SalesMarketing intelligence for sales action
Easily track buying
signals of interesting
accounts
Closed
Won
Inquiry
SQO
Sales
Qualified
Opportunity
(SQO)
Suspect
MQL
SAL
Closed
Won
Enable Sales
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
The 7 Steps to Lead ManagementOverview
Improve Marketing Efficiencies
Enable Sales
Improve Lead Quality
Do Effective Nurturing
Improve Targeting & Segmentation
Measure Marketing Effectiveness
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Continuous Optimisation
Why you will never be done
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
25%
£5M
50%
20%
5%20,000
1,000
250
125
25Revenue
Inquiries
Qualified Leads
Sales Accepted Leads
Sales Qualified Opps
Closed-Won Leads
Conversion Rates
Sales StageVolume
Required
ASP = £200K SaaS Company, 20% Win Rate
Optimising Results: Lead Management
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
20,000
1,000
650
325
65
Inquiries
Qualified Leads
Sales Accepted Leads
Sales Qualified Opps
Closed-Won Leads
Conversion Rates
Sales StageVolume
Required
ASP = £200K SaaS Company, 20% Win Rate
Optimising Results: Lead Management
65%
50%
20%
5%
£13M Revenue
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
3 things a modern marketer should remember
1. Align with your sales team to improve lead flow and effectiveness of your revenue engine
2. Learn the 7 steps in lead management and adopt them over time, as you evolve – it’s a journey
3. Continuously improve your lead management processes to grow revenue and productivity
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Lead Lifecycle Management
Sylvia JensenSr. Director of EMEA MarketingOracle Marketing Cloud
@smajensen
http://www.linkedin.com/in/sylviajensen
Thank you!