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Posts Tagged ‘leads’

Trust Your Customers to Raise Their Hands: How to use non-gated content to more than double high-quality leads

January 20th, 2017
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Challenged to measure ROI on every program and hit a certain number of leads per month, some marketers make potential customers fill out forms to get access to gated content.

Instead of forcing form fills, Chris Keller, Vice President of Marketing, Health Catalyst, and his team set their content free in order to increase shareability and lead quality while more than doubling leads during a three-quarter period.

“We’re trying to be the non-marketing marketing group,” Chris said. “We’ve taken a controversial approach to educating the market.”

For Health Catalyst, a healthcare analytics company, aggressively educating customers was a key aspect of its strategy to deliver a high-growth pipeline of leads. However, in a crowded healthcare IT market, Health Catalyst wanted to establish leadership, not generate cold leads.

This led the team to take a different approach: as few lead forms as possible. Because they wanted a pipeline of sale-ready leads, they put their trust in prospects to raise their hands when they were ready.

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B2B Marketing: The 7 most important stages in the teleprospecting funnel

April 1st, 2011
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Funnel measurements have two important benefits in B2B lead generation:

1. Helping marketers forecast outcomes.  By tracking the conversion percentages, marketers can apply those conversion percentages to each new campaign and predict what the outcome will be before the campaign occurs.  Such predictions are very helpful in capacity planning and budgeting.

2. Helping marketing identify funnel leakage and optimize revenue production.  Marketers can apply both their own internal, historical baseline conversion ratios (i.e., an aggregation of conversion ratios) and industry benchmarks, like those gathered by MarketingSherpa.

Executive-level funnel metrics provide marketers with the 50,000-foot view to provide an end-to-end perspective.  But when there appears to be leakage, zooming in on a particular leak is essential.

In that context, let me share seven funnel conversions for teleprospecting.

But first, let’s agree on the scope. In B2B, there are two important functions in this  area:

  • Following up on, qualifying, educating, and nuturing marketing responses until they are sales-ready leads.
  • Prospecting into target accounts to identify and qualify existing demand and to generate demand and convert that demand into sales-ready leads.

For both of these activities, it seems the key funnel stages would be similar. But, what are they?

Before I share a point of view on this important subject, let me say that teleprospecting is very complex and the interpretation of outcomes at various stages of the funnel are more and more subjective. Plus, in one call, the teleprospecting rep may go through all the funnel stages.

Click to enlarge

1. Dial – a teleprospecting rep making an outbound dial; or a customer making an inbound call.

2. Connection – the dial converting into a connection.Those dials that do not convert into connection either have busy-outs, dials with no answers, recorded phone company messages about the number being out of service or changed. A very high percentage of dials not converting into connections means the list or lead source is problematic.

3. Conversation. – the rep reaching someone to have a conversation, however short; a prospect reaching a teleprospecting representative via an inbound call.

4. Decision-maker conversation – some of the conversations are with those who would be part of a decision and some are not, either because the teleprospecting representative is speaking merely to a receptionist or to someone otherwise not involved in the solution area.

Decision-maker/decision-influencer conversations are much more predictive of future purchase intent than non-conversations. Even when following up on marketing responses, it’s not uncommon that 20 percent of more of the leads never make it to this stage.

5. Qualified Account – Usually, the first thing a teleprospecting representative does is qualify the person. The second thing is often qualifying the account. Is the account in the target market? Those that are would get this kind of status.

At the top of the market, the funnel may end here with an attempt to set an appointment, the idea being that the sales person will take meetings with the right people in the right accounts because the buying potential is so large.

6. Acknowledged Need – The next thing a teleprospecting representative does is discover if there are buying plans, and if not, at least an acknowledged need. Those who meet the other criteria (Qualified Account, a stakeholder in the decision processs) and have an acknowledged need are the most likely to convert into a sales-ready lead.

In fact, for some larger accounts, the sales organization may decide that this level of qualification is sufficient to warrant sales follow-up. Others in this stage might warrant tele-nurturing.

 

7. Sales-Ready Lead. Sales-ready leads meet any other qualifying criteria, like a particular timeline for buying, the existence of a budget, etc.

And then, of couse, the overall sales-marketing funnel extends beyond the teleprospecting operation as sales people validate leads, convert them into opportunities, forecast them, and close them.

There are some problems with the above funnel however:

  • It doesn’t account for inbound or outbound emails sent to or from the teleprospecting representative or the clickthroughs that might happen.
  • It doesn’t factor in online chat sessions, where there might be an opportunity to identify the prospect, qualify their interest, role, and the account they work for, all before having a live conversation with them.
  • There is also nothing in here about leaving messages, per se, like a voice mail.
  • There could certainly be other stages, like a presentation stage, where the teleprospecting representative presents, however informally, (via WebEx, DimDim, etc.) some kind of elevator pitch to the prospect.
  • It’s also possible that by sending an Outlook meeting request or speaking to an admin, a teleprospect representative schedules a phone meeting.
  • Finally, there isn’t a stage for doing some kind of preliminary investigation of an account and/or a contact, like going to LinkedIn or the account website.

Obviously, these limitations speak to the complexity of B2B teleprospecting for the complex sale, and the evolution of this capability to include more and more Web-based tools for both discovery and communication.

What funnel stages do you see as most important?

Related Resources

 

B2B Lead Generation: Why teleprospecting is a bridge between sales and marketing

B2B Marketing: The FUEL methodology outlined

How and When to Use Content in the B2B Sales Process (Members library)

Free MarketingSherpa B2B Newsletter

B2B Lead Generation: Why teleprospecting is a bridge between sales and marketing

March 24th, 2011
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For complex B2B sales, there is no better capability than teleprospecting for optimizing funnel efficiency.  I suspect that is one of the reasons more and more marketing executives have taken ownership of this function from sales.

One of the reasons that teleprospecting is so important is that it is (or should be) a bridge between upstream marketing campaigns and downstream sales teams.  For marketing, the teleprospecting team cannot only convert marketing responses into sales-ready leads, but provide marketing with clarity on how to improve its demand generation efforts.

Let me provide two simple examples:

1. Fine-tuning lead scoring models

There is probably no more promising capability than lead scoring.  To evolve the rule set, marketing must take aggregate funnel data from teleprospecting and fine tune the scoring model.  For example, usually 20-50 percent of the leads will be unreachable after four or five dials and three or so personal emails from the teleprospecting representative.  By comparing a large pool of these unreachable leads with leads that do respond to follow-up of teleprospecting representatives, marketing can often find different characteristics that correlate to responsiveness and dial up the lead score accordingly.

2. Fine-tuning messaging and media strategy

If a large percentage of potential customers the teleprospecting team does reach are out of the target market, then marketing can often fine-tune its messaging and its media/search strategy to improve the percentage of responders who are actually in the target market.

If the teleprospecting team receives similar, simple feedback on the sales-ready leads, that feedback can help the teleprospecting team improve it’s practices.  For example, if there is a disproportionate percentage of sales-ready leads that do not respond to the follow up by sales, then the teleprospecting team (or some subset of the team) most likely needs additional training (or talent) in order to better qualify prospects.

What’s important is that there is a repeatable process and that the operation measures the right things.  What’s also important is that marketing views the teleprospecting capability as a mechanism for improving upstream marketing efficiency and that the teleprospecting operation views sales feedback in a similar light.

In this light, the real question isn’t whether sales or marketing owns the teleprospecting function, but that everyone sees the potential for teleprospecting to better connect marketing to sales and drive optimization of the funnel.

Related resources

Free Web clinic, March 30th — Converting Leads to Sales: How one B2B company generated $4.9 million in additional sales pipeline growth in only 8 months

B2B Marketing: The FUEL methodology outlined

How and When to Use Content in the B2B Sales Process (Members library)

Free MarketingSherpa B2B Newsletter