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KILLING MQLS –BUILD YOUR DEMAND & LEAD GEN FRAMEWORK
CREATED BY: Ljubica Radoicic
FOR MORE INFO OR ASSISTANCE CONTACT: https://www.linkedin.com/in/ljubicaradoicic/
B2B Marketing Leaders Forum, Singapore 2019
BUILD THE ENGINE
HOW A MARKETING FUNNEL WORKS
Content at the top of the funnel facilitates AWARENESS
Content at the middle of the funnel facilitatesEVALUATION
Content at the bottom of the funnel facilitatesCONVERSION
Make PROSPECTSproblem aware and
solution aware
Convert problem aware and solution aware
prospects into LEADS
New leads can now make an INFORMED PURCHASE
DECISION
BlogsSocial Media UpdatesInfographicsPhotographsDigital Magazine / Book
Audio PodcastVideo/Video PodcastMicrositePrint Magazine / NewsletterPrimary Research
Top of Funnel
Educational ResourcesQuiz / Surveys
Discounts / Offers / Loyalty ClubUseful Resources
DownloadsWebinar / Events
Middle of Funnel
DemoCustomer Story
Comparison / Spec SheetWebinar Events
Bottom of Funnel
MARKETING FUNNELSAMPLE FRAMEWORK
AWARENESS & EDUCATION (LEADS – IQL)
• SEO & online advertising (e.g. SEM, PPC, retargeting)
• Social (LI, Twitter)• Blogs, webinars (lead gen)
• Content (eBooks, articles, white papers, video) –early stage
• PR
DEMAND & LEAD GENERATION –(MQL – SQL)
• Campaigns & nurture programs, landing page
• Industry events & company led events (lead gen)
• Webinars• Outbound calls, SDR• Content – mid stage
DEAL ACCELERATION (SQL – SAL –WON)
• Targeted small events (round tables with “case study” –client speaker)
• User conferences• Case studies, testimonials,
references
CUSTOMER SUCCESS & EVANGELISTS
• User community• Case study• Influencer program
WORKSHEET
CRAFT YOUR MARKETING FUNNEL
EXAMPLE
CRAFT YOUR MARKETING FUNNEL
WORKSHEET
SO YOU MADE THE SALE…
KPI SETTING - REVENUE CALCULATOR
Target Regions
Target Sectors
Target ($000) 0 0 0 0
Marketing Contribution ($000) 0 0 0 0
Avg Deal Value ($) 1 1 1 1
# of deals closed 0 0 0 0
SQLs (qty) 0 0 0 0
MQLs (qty) 0 0 0 0
Leads (qty) 0 0 0 0
Marketing Contribution (%) 35% 35% 35% 35%
L to MQL 3% 3% 3% 3%
MQL to SQL 20% 20% 20% 20%
SQL to Sales (win rate) 7% 5% 5% 5%
Program Description
Business Growth Area
Demand Generation
Sales Enablement
Lead Generation
SOLUTION / SEGMENT
BU / SOLUTION / SEGMENT
COMPANY XYZ REVENUE MARKETING PLAN
Date:
Version:
SALES ALIGNMENT & LEAD MANAGEMENT
WORKSHEET
SALES & MARKETING ALIGNMENT
LEAD DEFINITION AND MANAGEMENT
LEAD STAGE DEFINITIONS
SQL CRITERIA
BANT is the suggested qualification criteria
Internally, 2 BANT criteria minimum is used to qualify an opportunity.
BREAKDOWN:
Budget – What is the prospect’s budget?
Authority – Does the prospect have the decision-making authority, or is she an influencer?
Need – What is the prospect’s business need?
Timeframe – In what timeframe will the prospect be implementing a solution?
SAMPLE SQL CRITERIADo you have clearly defined lead stage definitions with sales?
How do you define a MQL?
How do you define a SQL?
When is a lead handed over to sales?
LEAD STAGE DEFINITIONS - EXAMPLE
Prospect
LEAD STAGE DEFINITION
Targeted buyer, fits the ideal buyer persona profile
Inquiry Buyer who has responded to an initial asset; has minimum information (name, email) and answer to an initial qualification question
MQL Prospective buyer who has taken additional steps in engaging with and consuming program content. Has supplied additional demographic information in going through the program and meets the buyer persona criteria
SAL Buyer who has been qualified based on behavioural and demographic criteria and engagement in the demand generation program. Qualified lead has been accepted by sales and be scheduled for follow up
SQL Qualified lead who has been called by inside sales, meets qualified lead criteria and it routed to field sales criteria.
Opportunity A prospect who is ready to buy and is engaged with field sales. Opportunity must have a $ figure assigned to it and be recorded in CRM system.
Closed Won Opportunity that is documented n CRM system as closed / won.
WORKSHEET
SALES & MARKETING ALIGNMENT
SALES & MARKETING SLA
Come up with shared definitions for leads, opportunities, qualified leads
Come up with a clear profile of buyers and customers
Determine what technology you need/have to enable a closed-loop lead generation solution.
Determine how to hold your teams accountable
What type and frequency of communication you need to be successful
Develop SLA document
WORKSHEET
SALES & MARKETING SLA LEAD MANAGEMENT
EXAMPLE
SALES & MARKETING SLA LEAD MANAGEMENT
EFFECTIVE LEAD MANAGEMENT PROCESS
Data Management - determining the validity of database
Lead Routing - Determining how Marketing will pass qualified leads to Sales, how leads will be passed onto nurturing campaigns and how Sales will pass leads back to marketing
Lead Qualification - Defining every step in the buyer journey, assigning attributes to those definitions and then building a lead score model
Lead Nurturing/Scoring - Building a relationship with prospects and nurturing for pipeline acceleration;
Content - Developing of content and offer maps along the buyer’s journey
Metrics - Developing benchmarks and KPIs for your organization to measure against quarterly.
KPIS & REPORTING
WHAT IS YOUR REPORTING FRAMEWORK?
TRADITIONAL LEAD GENERATION DEMAND GENERATION REVENUE MARKETING
DEFINITION Focused on numbers related to activities and is not typically involved in lead generation.
Focused on numbers related to activities. The hot new metric is how many “leads” marketing producers for sales. The definition of a lead at this point is still fuzzy and is often a creation of marketing only, with little sales involvement.
Focused on pipeline and revenue-related metrics.
Focused on pipeline and revenue-related metrics that are now repeatable, predictable and scalable.
METRIC CATEGORIES ACTIVITY REPORTING EMAIL REPORTING FUNNEL REPORTING FUNNEL FORECASTING
SAMPLE METRICS# of events per year # of emails sent Funnel velocity Funnel velocity
# of attendees at each event
Cadence of emails sent # of MQLs, SALs, SQLs # of MQLs, SALs, SQLs
# of ad impressions % open & % click-throughConversion rates from Lead to MQL to SAL to SQL Close
Conversion rates from Lead to MQL to SAL to SQL Close
# of website visitors % bounce% and $ amount of pipeline contributed from marketing
% and $ amount of pipeline contributed from marketing
# of press releases # and % of form competitions% and $ amount of pipeline contributed from marketing
% and $ amount of pipeline contributed from marketing
# of “leads” sent to sales Lead Scoring Lead Scoring
Cost per leadAnalytics and campaign/program ROI
Analytics and campaign/program ROI
MARKETING KPIs AND REPORTING
MARKETING CONTRIBUTION TO SALES PIPELINE
• New Logo Acquisition
• Customer Retention
• Customer Cross-Sell/ Upsell
MARKETING CONTRIBUTION TO REVENUE
• New Logo Acquisition
• Customer Retention
• Customer Cross-Sell/ Upsell
CAMPAIGN/PROGRAM PERFORMANCE (PIPELINE & REVENUE)
• New Logo Acquisition (Soured vs. Influence)
• Customer Retention
• Customer Cross-Sell/ Upsell (Soured vs. Influence)
• Channel/Tactic Performance (without context of campaign)
• Content Performance
CONVERSIONS BY LEAD STAGE
• Prospect
• Inquiry
• MQL
• SAL
• SQL
• Opportunity
• Closed-Won
DEAL VELOCITY
• Measurement of velocity from inquiry to close
• Measurement of velocity at each qualification stage (MQL-SAL; SAL-SQL, etc)
SERVICE LEVEL AGREEMENTS
• Monitor marketing and sales service agreements
PROGRAM BENCHMARKING
• Establish initial benchmarks to measure against to monitor continual improvement
• Compare benchmarks to industry standard
FREQUENCY
• Establish bi-weekly metrics review to ensure continual campaign optimisation
REVENUE MARKETING eBOOK
THANK YOU