full funnel marketing – integrating sales & marketing to increase results & success
TRANSCRIPT
Full Funnel Marketing 101
Matt HeinzPresident, Heinz Marketing Inc
Housekeeping• Copy of this deck• Offers for you
• Full Funnel Marketing – the BOOK• Modern Marketer’s Field Guide• Matt’s award-winning* smoked bacon recipe
• Send me an email ([email protected]) or bring me a business card noting what you want
I am serious about bacon
Page 4 #MKTGNATION
Five keys to full-funnel marketing1.Do the math (quantify what success looks like)
2.Create a clear customer profile3.Map the sales and buying process4.Embrace revenue responsibility5.How will you measure it?
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Calculating what you need
Assumptions
Meaghan ASP $ 65,000 Jennifer ASP $ 75,000 John ASP $ 80,000 Opp/Close % 25.0%Lead/Opp % 5.0%
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16Meaghan Sales # 1 1 2 3 2 4Jennifer Sales # 1 2 2 2 2 2John Sales # 1 1 1 1 2 1Total Sales # 2 3 4 5 4 7
Meaghan Sales $ $ 65,000 $ 65,000 $ 130,000 $ 195,000 $ 130,000 $ 260,000 Jennifer Sales $ $ 75,000 $ 150,000 $ 150,000 $ 150,000 $ 150,000 $ 150,000 John Sales $ $ 75,000 $ 75,000 $ 75,000 $ 75,000 $ 150,000 $ 75,000 Total Sales $ $ 215,000 $ 290,000 $ 355,000 $ 420,000 $ 430,000 $ 485,000
Meaghan Pipeline # 4 4 8 12 8 16Jennifer Pipeline # 4 8 8 8 8 8John Pipeline # 4 4 4 4 8 4Total Pipeline # 12 16 20 24 24 28
Meaghan Pipeline $ $ 260,000 $ 260,000 $ 520,000 $ 780,000 $ 520,000 $1,040,000 Jennifer Pipeline $ $ 300,000 $ 600,000 $ 600,000 $ 600,000 $ 600,000 $ 600,000 John Pipeline $ $ 300,000 $ 300,000 $ 300,000 $ 300,000 $ 600,000 $ 300,000 Total Pipeline $ $ 860,000 $1,160,000 $1,420,000 $1,680,000 $1,720,000 $1,940,000 Meaghan Leads 80 80 160 240 160 320Jennifer Leads 80 160 160 160 160 160John Leads 80 80 80 80 160 80Total Leads 240 320 400 480 480 560
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Enumerating needs by role
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One slide to rule them all
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Defining & developing trustTrust =
(relationships + content)X
reputation
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Only two sales stages matter
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Only two sales stages matter
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The buyer’s journey
Leads & Opportunities
Stage Definition Sales Next Step(s) Marketing Next Step(s)
Leads
Open/Not AttemptedNew lead, has not been attempted or contacted by sales
Begin follow-up to get on the phone live to qualify as opportunity
Provide scripts and response offers as needed to increase call-backs
Attempting to ContactSales has begun the process of following the lead follow-up process to reach the prospect live
Continue follow-up attempts via phone, email, "zero out" to reach prospect live
Provide scripts and response offers as needed to increase call-backs
Interested
Prospect has expressed interest in ABC Company and/or achieving better results, and is interested in learning more; full qualification criteria intent/purchase timeline still unknown
Once prospect has been qualified, either move into a "Qualified" opportunity or move to Nurture (if timeline is long-term or undetermined)
Provide collateral, case studies and other information as needed to help prospect determine sales intent
Nurture
Prospect is interested, but there is no near-term opportunity to buy (prospect may have other immediate priorities, or may just need more time to consider interest/intent)
no action Drip marketing to prospect 1-2 times per month with value-added offers, until they're ready to engage in a short-term buying cycle again
Unresponsive
Haven't been able to get ahold of prospect after repeated attempts
no action Drip marketing to prospect 1-2 times per month with value-added offers, until they're ready to engage in a short-term buying cycle again
No Further Action Lead is not a qualified prospect no action no action
Opportunities
Qualified
Prospect has a need & budget, and is actively evaluating solutions
Get demo commitment, plan next steps and timeline to buy (or at least make decision) with prospect
Provide additional support tools as needed (case studies, etc.) to help accelerate prospect interest and buying cycle
Presentation & Demo
Demo has been scheduled or completed; working through objections & questions
Get permission to present formal proposal Provide additional support tools as needed (case studies, etc.) to help accelerate prospect interest and buying cycle
ProposalFormal proposal is in process or has been delivered outlining terms, services, fees
Get verbal commitment to buy pending finalization of terms
no action
NegotiationProspect has verbally agreed to do business; both sides are working through final legal/term/service/fee details
Sign, seal and return baby! no action
Close Agreement has been signed and returned victory lap no action
Closed Lost
Opportunity has stalled indefinitely or is dead no action Drip marketing to prospect 1-2 times per month with value-added offers, until they're ready to engage in a short-term buying cycle again
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A direct line to revenue growth
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People & problems, not products
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Marketing plan in 5 questions1. What/who are your targets?
• Direct & indirect users, influencers• Address entire buyer ecosystem
2. What do they care about? What outcome are they seeking?
3. Where do you find them?
4. What or who influences them?
5. How do they want to engage and (eventually) buy?
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What do your customers care about?
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The buyer progression
SolutionProblem/
PainObjective/Outcome
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How to develop a “strategic plan”
Creating Traction
A Culture of Failure
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Competing against your future self
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Questions your CEO should be asking 1. Show me your model
2. What problem are you solving and for whom?3. Who is your target customer and why?4. What is your sales process?5. Who is selling for you and how are you measuring &
managing them?6. How are you going to generate leads?7. How are you going to decrease acquisition costs over
time?
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Inbound vs Outbound vs ABM vs …..
Seven traits of outstanding full-funnel marketing professionals
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1. Revenue Responsibility
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Revenue responsibility in practice• Quick sales vs. lifetime value• Good sales vs. bad sales
• Expensive customers, higher churn likelihood
• Can you buy a beer with it?• Business vs. commission check mindset
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2. Focus
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Attributes of a focused marketer• Daily plan• Evening evaluation & recalibration• Minimized distractions• Effective triage• Distraction management (internally & externally)
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3. Customer Centric
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This doesn’t write checks!
4. Personal accountability
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Accountability means…• Transparency• Constructive criticism & improvement• Macro & micro calibrations• Proactive adjustments• Daily discipline
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5. Technology competence
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Is your tech helping or hurting?• What problem does it solve?• What does it automate or accelerate?• What is your system or process?• Can it scale beyond you?
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Key #1: Start with the problem & outcome
Is the tail wagging the dog?
Key #2: Align to Impact & ROI
Key #3:Establish requirements up front
Key #4: Work with IT
Key #5: Integrate with existing systems & processes
Key #6: Practice the OODA Loop
BONUS #7: Quarterly Reviews
BONUS #8: Be deliberate
6. Agile mentality
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What is your tolerance for chaos?• Speed and focus amidst change• Quick recalibration & new game plan development• The power of humility
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7. Empathy
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What empathy means…• For your peers• For your sales organization• For other departments• For your customers• What is important to THEM?
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Page 48 #MKTGNATION
Five recommendations1. Know your customer better2. Focus on building consensus internally3. Prioritize early buyer stages4. Establish key metric baselines & goals5. Develop systems, processes & habits to execute
consistently
Housekeeping• Copy of this deck• Offers for you
• Modern Marketer’s Field Guide• Full Funnel Marketing the BOOK• Matt’s award-winning* smoked bacon recipe
• Send me an email ([email protected]) or bring me a business card noting what you want
Thank you! Matt Heinz
President, Heinz Marketing@[email protected]
Thank You!