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How to Create and Measure Complex Lead Nurturing Campaigns Across Multiple Media Kathy Rizzo, Tele. Net Marketing Solutions Gretchen Clark, Hewlett Packard Tuesday, October 24, 2006 © 2006 Marketing. Sherpa, Inc. This presentation is not for distribution. Thank you.
HAVE YOU EVER. . . …Agonized over a black-hole swallowing your leads? …Encountered sales reps that only want “HOT” Leads? …Been told that a monthly e-newsletter is Nurturing? …Wondered if there’s a better way?
Nurturing… In a complex sales cycle, Nurturing is a relationship building approach utilizing multiple media to provide relevant information to prospects and engage in an ongoing dialog until qualified prospects are “sales ready”.
HP Situation Analysis • Strengths… 1. 75% of campaigns experience Strong Response Rates 2. Successful Tele-qualifying on all campaigns • Shortcomings… 1. Lack of sales follow-up resulting in poor closure rates on our D Leads 2. No further communication to our Qualified Prospects
HP Situation Analysis • Statistics showed… • Of 1, 000 Responses reached via tele-qualification: – 20 -30% = not useable (unqualified) – 5 -10% = A, B, C leads (short to mid term leads) – 5 -10% = D leads (long term leads) – 50 -60% = Qualified to Buy (non-leads) • Therefore, without nurturing… • We’re not maximizing the opportunity of our initial investment • We’re not using the full potential of our campaigns
HP Nurturing Test • Small-scale test with Tele. Net Marketing Solutions to build a case • Results: • 13. 9% rate of returned voice mail messages • 3% higher Lead Rate • $650, 000+ confirmed pipeline • 13: 1 Estimated ROI
HP Move Forward Plan • • Buy-in based on statistics & test results Two important messages: 1. Already made significant investment to identify qualified prospects, who will buy…eventually 2. Build a relationship NOW rather than waiting until competitors are calling • Identified two areas of focus moving forward: • Enterprise Storage • High Performance Computing • Agreement on implementing a manageable strategy that can be expanded over time.
Major Nurturing Steps • Lay a Foundation for the Prospect Relationship • Conversations = Relationships • Segment prospects based on their buying stage • Active Engagement • Passive Engagement • Ongoing contact strategy customized to the prospect • Prospect Profiles = Determine What’s Important • Marketing Matrix = Relevant Information for Major Prospect Segments
Define “Sales-Ready” • Factors Include: • Length of Your Sales Cycle • How Your Prospects Make Decisions When should a Sales Rep be engaged? Examples: Enterprise Server & Storage: ־ Pain and project/need identified ־ Within 6 months of decision. Budget identified ־ Decision-Maker or Influencer/Recommender ־ Desire to speak w/Account Executive or Partner Financial Advisory Service Provider ־ Community Bank ־ Defined expansion or growth plans within 12 -18 months ־ CEO, CFO or COO agree to Advisory Meeting
Create a Prospect Profile • Consider… • What drives prospects to evaluate (PAINS) • How prospects evaluate & purchase your product/service • How sales positions and sells your product/service • What sales NEEDS to know to be successful
Profile Example: Storage
Pain Profile: Financial S/W
Marketing Matrix Media Tip: Use your PR Agency to help locate relevant 3 rd party content
Marketing Matrix Template Tip: Don’t get overwhelmed! Focus initially on Level 1 and the areas, which typically represent 80% of your prospects.
Frequency of Contact • Determined by: – – Specific direction given from prospect Buying stage determined by conversation Receptiveness of the prospect Triggering Event Tip: Develop suggested prompts for follow-up based on buying stage
Telemarketing Messaging • Content of Telemarketing calls dependent on… • Historical conversations • Profile data already obtained • Goal of each contact is to… • Provide information that is valuable • Expand the Prospect Profile • Learn about changing business priorities • Determine if “Sales-Ready”
TM Messaging Preparation • Determine prior to dialing… • What is the extent of the prospect’s previous interaction within the nurturing strategy? • Consider details of previous nurturing touches: conversations, voice mails, e-communications, events, etc. • What do we already know about their situation? • What else does Sales need to know? • How can your call convey value to this prospect? Tip: System prompts can be programmed based on key profile data and marketing matrix.
Example: One to One TM Good Morning/Afternoon, this is ______ calling from Hewlett Packard. I am calling today as a follow up to our last conversation on (date). When we spoke, you mentioned that you were…. (customize as appropriate) Possible Conversation Tracks: • Focusing your attention on… (critical business issue or current challenge) • Investigating solutions regarding … • Interested in evaluating/purchasing/implementing … • Had plans to … • Wanted more information on … • Thinking about …
Example: One to One TM Good morning/afternoon. This is _________ calling on behalf of Hewlett Packard. I am calling today to offer to send you two new white papers on hospitals’ strategies for implementing image archival systems, which I think may be of interest to you based on the conversation that we had on (date). (Determine Interest) In order to make sure we can continue to offer you relevant information, I’d like to take just a moment of your time to confirm some information regarding your current situation.
Email Integration • Email occurs multiple ways: üOne-to-one follow-up after a conversation üInformation prior to a scheduled call üScheduled one-to-one emails between phone conversations üOne-to-many delivered to strategic groups Tip: Do not overlook the importance of a bounce-back email.
Nurturing Email Best Practices • Personalize every message • Reference past conversations • Tie your message to their business needs • Make it readable from the preview window • Provide an invitation to respond Tip: Email Tracking Tools can help to prioritize calls
Example: One-to-One Email Tip: Official Signature Adds Credibility
Example: One-to-One Email
Example: One-to-Many Email Tip: Keep your contact strategy manageable by focusing on 1 one-tomany e-message each month.
Micro Website or “Resource Center” • Repository for relevant marketing material • Non-Sales oriented resource center) (Think • Response mechanism (But, not as a requirement to view data!) • Track traffic
Marketing Activities • Direct Mail: • Planned Direct Mail to relevant subsets of the Nurturing Database • Events: • Event calendars programmed based on geography and topic Tip: Compare response files to make sure you’re not duplicating efforts or confusing relationships.
Measurement and Analysis • Measure Activity and Nurturing Pipeline Passive Active Sales Ready • Track and Rate your Nurturing Touches • Monitor the average score for a “Sales Ready” lead • Evaluate point of diminishing returns for each prospect
Example: Measurement Reporting
Example: Measurement Reporting
Example: Email Statistics Triggers telephone follow-up
Lead Lifecycle Management • Common Pitfall • Relying only on systems to distribute and track your “sales-ready” leads • Solution: Ensure leads are top of mind • • Use the phone and email in combination w/CRM Ask for feedback – seek to improve Maintain contact through the sales cycle Receive measurable data
Example: Closed Loop Reporting Lead Identifiers Closed Loop Data
Selling Your Boss • Approximately 10% of the market are Long-term Leads – Greatest probability for a “Win” – Greatest probability of NOT being pursued by Sales • 50 -60% of marketing responses are Qualified Non-Leads – Eventually will buy from you or your competitors • Maximize the investments already made • Nurturing is measurable – Monitor and Measure the Nurtured Pipeline – Report “Active Engagement” Activity – Measure ROI • Nurturing is a tailored, manageable approach
Nurturing… To answer our initial question… YES, there is a Better Way! Nurturing provides Sales with the leads that they want to work, while providing Marketing with measurable results.
Thank You Gretchen Clark Hewlett Packard Company and Kathy Rizzo Tele. Net Marketing Solutions www. telenetmarketing. com 877 -282 -2345 [email protected] com © 2006 Marketing. Sherpa, Inc. This presentation is not for distribution. Thank you.