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Lead Nurturing Tested New research reveals how slight script tweaks increased response by 31%

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Page 1: ME - Lead nurturing tested

Lead Nurturing TestedNew research reveals how slight script tweaks increased response by 31%

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We’re sharing on Twitter!#WebClinic

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Today’s speakers

Dave GreenDirector Partner RelationshipsMECLABS@DaveGreenLeads

Austin McCrawDirectorContent ProductionMECLABS@McOptimize

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Background: A large well-known insurance carrier.

Goal: To increase the number of lead responses to a scripted voicemail.

Research Question: Which voicemail script will generate the most lead responses?

Test Design: A/B single factor split test

Experiment ID: PendingRecord Location: MECLABS Research LibraryResearch Partner: (Protected)

Experiment: Background

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Experiment: Treatment A

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. We are currently

the fifth largest life insurance carrier in the

nation offering competitive rates and

solutions to help ease administration

burdens. When we last spoke, you told me

that you work with a broker for your price

quotes for the group life benefits. I would

like to get your broker contact information in

order to be in consideration when they next

do their evaluations for you.

Treatment A

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Experiment: Treatment B

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. When we last

spoke, you told me that you work with a broker

for your price quotes for the group life benefits.

Since we do not nationally advertise and may

not have had the opportunity to work with

your consultant, we would like to share our

information with them. I would like to get your

broker contact information in order to be in

consideration when they next do their

evaluations for you.

Treatment B

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Experiment: Side-by-sideTreatment A

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. We are currently

the fifth largest life insurance carrier in the

nation offering competitive rates and

solutions to help ease administration

burdens. When we last spoke, you told me

that you work with a broker for your price

quotes for the group life benefits. I would

like to get your broker contact information in

order to be in consideration when they next

do their evaluations for you.

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. When we last

spoke, you told me that you work with a broker

for your price quotes for the group life benefits.

Since we do not nationally advertise and may

not have had the opportunity to work with

your consultant, we would like to share our

information with them. I would like to get your

broker contact information in order to be in

consideration when they next do their

evaluations for you.

Treatment B

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Treatments Conversion Rate % Rel. Change

Control Voicemail 50% --

Treatment Voicemail 65% 30.8%

Increase in lead responses31%The treatment voicemail increased broker handoffs by 30.8%.

Experiment: Results

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Experiment: Treatment

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. When we last

spoke, you told me that you work with a broker

for your price quotes for the group life benefits.

Since we do not nationally advertise and may

not have had the opportunity to work with

your consultant, we would like to share our

information with them. I would like to get your

broker contact information in order to be in

consideration when they next do their

evaluations for you.

Treatment B

Why did the wording in Treatment B outperform Treatment A?

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FKey Principles

1. Lead nurturing is a process, not an event. The necessary timing allows for the necessary forming – the forming of the final conclusion.

What you need to understand

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Only 36% of marketers nurture leads

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The potential ROI of lead nurturing

On average, organizations that nurture leads experiencea 45% lift in lead generation ROI over organizations that do not.

ROI WITH NURTURING

ROI W/OUT NURTURING

45%IN AVG. ROI

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FKey Principles

1. Lead nurturing is a process, not an event. The necessary timing allows for the necessary forming – the forming of the final conclusion.

2. The “final conclusion” is different from the macro-yes, for the conclusion must precede a macro-yes. In the nurturing process, the marketing team fosters a conclusion – the sales team converts it to a “yes.”

What you need to understand

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g=

9.8

1m

/s2

1. The funnel is often presented as one potentially useful analogy for marketing. It is in fact, the primary analogy. All marketing should influence a decision.

The inverted funnel

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g=

9.8

1m

/s2

1. The funnel is often presented as one potentially useful analogy for marketing. It is in fact, the primary analogy. All marketing should influence a decision.

2. The funnel analogy distorts reality. People are not falling into your funnel, they are falling out. The funnel must be inverted.

The inverted funnel

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1. The funnel is often presented as one potentially useful analogy for marketing. It is in fact, the primary analogy. All marketing should influence a decision.

2. The funnel analogy distorts reality. People are not falling into your funnel, they are falling out. The funnel must be inverted.

3. People don’t travel down the center of the funnel. People are climbing up the sides.

g=

9.8

1m

/s2

The inverted funnel

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(Mi)YES

(Ma)YES

Y

Val

ue

Pro

po

siti

on

Business Software Suite#1 On-Demand. 6459+ World ClientsAward-Winning Solution. Free Trialwww.XXXXXXXXXX.com/Business

PPC Ad

Landing Page

Sales Call

(Mi)YES

(Mi)YES

(Mi)YES

(Mi)YES

(Mi)YES

(Mi)YES

(Mi)YES

(Mi)YES

The inverted funnel

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Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. When we last

spoke, you told me that you work with a broker

for your price quotes for the group life benefits.

Since we do not nationally advertise and may

not have had the opportunity to work with

your consultant, we would like to share our

information with them. I would like to get your

broker contact information in order to be in

consideration when they next do their

evaluations for you.

Treatment B

How was the wording in Treatment B more effective at fostering a conclusion?

Experiment: Treatment

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Today, we are going to walk through the three cognitive levers we pulled in the voicemail to foster a conclusion.

LEVER #1 LEVER #2 LEVER #3

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LEVER #1 LEVER #2 LEVER #3

LEVER #1: We ANCHORED THE MESSAGE TO THE CONTEXT

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Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. We are currently

the fifth largest life insurance carrier in the

nation offering competitive rates and

solutions to help ease administration

burdens. When we last spoke, you told me

that you work with a broker for your price

quotes for the group life benefits. I would

like to get your broker contact information in

order to be in consideration when they next

do their evaluations for you.

Not this

LEVER #1: Anchor the message to the context

LEVER #1 LEVER #2 LEVER #3

• The first script from the experiment begins selling right away without any context for the call.

• Our analysts hypothesized that by providing more context and justifying the reason for the call, prospects would be more likely to respond.

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LEVER #1: Anchor the message to the context

LEVER #1 LEVER #2 LEVER #3

• In the new script, context is immediately provided by mentioning a previous call.

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. When we last

spoke, you told me that you work with a

broker for your price quotes for the group life

benefits. Since we do not nationally advertise

and may not have had the opportunity to work

with your consultant; we would like to share

our information with them. I would like to get

your broker contact information in order to be

in consideration when they next do their

evaluations for you.

But this

31%In Conversions

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Experiment IDs: TP2083Record Location: MECLABS Research LibraryResearch Partner: (Protected)

Background: A large event management software provider.

Goal: To increase total lead inquiries (phone calls and form sign-ups) from visitors who abandoned the free trial sign-up process.

Primary Research Question: Which email tone will result in a higher rate of lead inquiries?

Approach: A/B single factor split test

LEVER #1 LEVER #2 LEVER #3

Experiment: Background

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Subject Line: Your Free Company Access

Dear [Name],

You’re just one step away from getting FREE access to [company], our award-winning Event Registration and Management Software. Quickly make an event website, try our event marketing tools, build a registration form template or even generate custom name badges.

Click here to finish your profile and get started. Your personal profile is kept secure and we promise NEVER to sell or misuse your information.

Have questions? Call us direct at 1-800-XXX-XXXX -- we can even set up your free access over the phone.

Sincerely,Jon PowellCustomer Service Representative

• The original nurture email gives little to no reason for the message. Again, the first paragraph goes directly to selling.

LEVER #1 LEVER #2 LEVER #3

Experiment: Control

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Subject Line: Your Free Company Access

Hi [First],

I noticed that you started the process of getting free access to [Company] but weren’t able to finish. Are you concerned about giving out your phone number? Are you worried about high pressure sales tactics or mandatory contracts?

We believe our product sells itself, so we’re just here to provide you with whatever assistance you need in getting your event up and running -- in whatever way works best for you. We promise NEVER to sell or misuse your information.

Call me direct at 1-800-XXX-XXXX and I can help get you rolling. If you’d rather just try again online, use this link instead.

Thank you in advance for your trust!

Sincerely,Jon PowellCustomer Service Representative

• The treatment provides an exact reason for the email send. (I noticed you started … but weren’t able to finish.)

• Furthermore, the context provided perfectly sets up the prospect to receive the rest of the email.

LEVER #1 LEVER #2 LEVER #3

Experiment: Treatment

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Dear [Name],

You’re just one step away from getting FREE access to [company], our award-winning Event Registration and Management Software. Quickly make an event website, try our event marketing tools, build a registration form template or even generate custom name badges.

Click here to finish your profile and get started. Your personal profile is kept secure and we promise NEVER to sell or misuse your information.

Have questions? Call us direct at 1-800-XXX-XXXX -- we can even set up your free access over the phone.

Sincerely,Jon PowellCustomer Service Representative

Hi [First],

I noticed that you started the process of getting free access to [Company] but weren’t able to finish. Are you concerned about giving out your phone number? Are you worried about high pressure sales tactics or mandatory contracts?

We believe our product sells itself, so we’re just here to provide you with whatever assistance you need in getting your event up and running -- in whatever way works best for you. We promise NEVER to sell or misuse your information.

Call me direct at 1-800-XXX-XXXX and I can help get you rolling. If you’d rather just try again online, use this link instead.

Thank you in advance for your trust!

Sincerely,Jon PowellCustomer Service Representative

ControlTreatment

LEVER #1 LEVER #2 LEVER #3

Experiment: Side-by-side

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Design Conv. Rate

Control 1.58%

Treatment 7.08%

% Relative Change: 349.41%

Relative increase in lead inquiries 349%The treatment increased lead inquiry rate by 349.41%

LEVER #1 LEVER #2 LEVER #3

Experiment: Results

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Live optimization

LEVER #1 LEVER #2 LEVER #3

Primary AudienceCustomer experience research council members

Primary ObjectiveEvent invite

http://bit.ly/1msZtTT

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LEVER #2: WE CONNECTED THE VALUE PROPOSITION TO THE PROSPECT

LEVER #1 LEVER #2 LEVER #3

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1

3

2

Question: If I am [PROSPECT A], why should I buy from you rather than any of your competitors?

Question: If I am your ideal prospect, why should I buy from you rather than any of your competitors?

Question: If I am [PROSPECT A], why should I buy this product rather than any other product?

Question: If I am [PROSPECT A], why should I click this PPC ad rather than any other PPC ad?

Prospect B

PRODUCT

#3

PRODUCT

#4

PRODUCT

#1

PRODUCT

#2PRODUCT

#3

PRODUCT

#4

PRODUCT

#2

PRODUCT

#3

PRODUCT

#4

Primary Value

Proposition

Conversion steps associated with a specific product

PRODUCT

#2

The Value Proposition Spectrum

PROSPECT-LEVEL

PROCESS-LEVEL

PRODUCT

#1PRODUCT

#1

PRODUCT-LEVEL

LEVER #2: Connect the value prop to prospect

To learn more about derivative value propositions, see the MELCABS course:

MECLABS.com/ValueProp

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1

3

2

Question: If I am [PROSPECT A], why should I buy from you rather than any of your competitors?

Question: If I am your ideal prospect, why should I buy from you rather than any of your competitors?

Question: If I am [PROSPECT A], why should I buy this product rather than any other product?

Question: If I am [PROSPECT A], why should I click this PPC ad rather than any other PPC ad?

PRODUCT

#3

PRODUCT

#4

PRODUCT

#1

PRODUCT

#2PRODUCT

#3

PRODUCT

#4

PRODUCT

#2

PRODUCT

#3

PRODUCT

#4

Conversion steps associated with a specific product

PRODUCT

#2

The Value Proposition SpectrumPROCESS-LEVEL

PRODUCT

#1PRODUCT

#1

PRODUCT-LEVEL

LEVER #2: Connect the value prop to prospect

Prospect B

Primary Value

Proposition

PROSPECT-LEVEL

To learn more about derivative value propositions, see the MELCABS course:

MECLABS.com/ValueProp

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If I am the CEO, why should I be interested in your product rather than any other solution?

If I am a business manager tasked with finding a solution, why should I be interested in your product rather than any other solution?

If I am an IT server admin, why should I be interested in your product rather than any other solution?

LEVER #2: Connect the value prop to prospect

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• The original voicemail messaging focused on the primary-level value proposition of the company.

• However, after conducting qualitative research concerning the specific motivations of the prospect, we hypothesized that they:

1. Had a high degree of anxiety when they felt they were “being sold”

2. Had little interest in learning about an insurance company

3. Simply desired to redirect us to their broker

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. We are currently

the fifth largest life insurance carrier in the

nation offering competitive rates and

solutions to help ease administration

burdens. When we last spoke, you told me

that you work with a broker for your price

quotes for the group life benefits. I would

like to get your broker contact information in

order to be in consideration when they next

do their evaluations for you.

Not this

LEVER #2: Connect the value prop to prospect

LEVER #1 LEVER #2 LEVER #3

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• The treatment script included a new sentence that further justified why we were calling and made a more prospect-level appeal of letting us “work with your consultant” instead of doing the work yourself.

But this

Hello, ___, my name is Lisa and I am calling

with [Insurance Company]. When we last

spoke, you told me that you work with a broker

for your price quotes for the group life benefits.

Since we do not nationally advertise and may

not have had the opportunity to work with

your consultant, we would like to share our

information with them. I would like to get your

broker contact information in order to be in

consideration when they next do their

evaluations for you.

LEVER #2: Connect the value prop to prospect

LEVER #1 LEVER #2 LEVER #3

31%In Conversions

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Experiment ID: TP1483Record Location: MECLABS Research LibraryResearch Partner: Sermo

Background: The largest physicians-only social network that allows pharmaceutical companies to conduct survey research and promote products to their audience.

Goal: To increase lead rate on the content marketing landing page.

Research Question: Which landing page will capture the most leads?

Test Design: A/B multifactor split test

Experiment: Background

LEVER #1 LEVER #2 LEVER #3

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• The control page focused mainly on the product-level value proposition of a single free report.

• While it follows many of the best practices of a landing page, the researchers at Sermohypothesized that they might be focusing on the wrong level of value proposition.

Experiment: Control

LEVER #1 LEVER #2 LEVER #3

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• In the treatment, the researchers at Sermofocused on the broader prospect-level value proposition.

• The content on the page displays several reports that the prospect might be interested in.

Experiment: Treatment

LEVER #1 LEVER #2 LEVER #3

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Control

Treatment

197%In Lead Rate

Experiment: Side-by-side

LEVER #1 LEVER #2 LEVER #3

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First Visit Repeat Visits

Design Lead Rate Rel. Diff Lead Rate Rel. Diff

Control 33.3% - 18.2% -

Treatment 27.2% - 6.1% 54.1% 197%

% Relative Change: 197%

Increase in lead rates197%By increasing the number of available reports, there was an increase in lead rates for returning visitors by 197%.

Experiment: Results

LEVER #1 LEVER #2 LEVER #3

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The answers to prospect-level value propositions will vary based on:

Factor CEO Manager IT Admin

ObjectiveWhat are the prospects main goals and desired outcomes?

I must increase the financial performance of

my organization

I must achieve X amount of revenue by the end of

the year

I must implement and manage all technology

solutions/products

MotivationWhat core motivations drives this prospect’s actions?

I want to be featured as a key leader in the industry

I want to get a significant promotion by

the end of the year

I would like to get home at a decent hour

ExperienceWhat are the past experiences of the prospect?

Has tried many similar solutions in the past

Has not tried any related solutions in the past

Has heard that solution is difficult to

manage

AuthorityWhat level of authority does the prospect have to make decisions?

Has full authority

Must get expressed permission for any expense exceeding

$10,000

Can only provide feedback on resource

requirements

PersonalityWhat is the personality of the prospect?

Serious, Dominant, Aggressive, Decisive

Analytical, Empathetic,Energetic, Relational

Cynical, Sarcastic, Indecisive

Prospect-level value propositions

LEVER #1 LEVER #2 LEVER #3

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See the MECLABS courses

MECLABS.com/Training/Online-Course

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Live optimization

LEVER #1 LEVER #2 LEVER #3

Primary Audience

Primary Objective

Lead capture form

Team event planners

http://bit.ly/1h6c0Jy

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LEVER #1 LEVER #2 LEVER #3

LEVER #3: WE ALIGNED THE ARGUMENT TO THE “ASK”

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Exposition

Climax

Resolution

Beginning (The Setup) Middle (The Confrontation) End (The Resolve)ACT 1 ACT 2 ACT 3

Climax

Rising Act.

Resolution /Exposition

Falling Act.

SUB STORY

People’s thoughts arrange themselves in story, therefore you must ensure that you no only have the right message, but that it is sequenced at the right time.

LEVER #3: Align the argument to the “ask”

LEVER #1 LEVER #2 LEVER #3

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Experiment: Control

We are currently the fifth largest life insurance

carrier in the nation offering competitive rates and

solutions to help ease administration burdens.

When we last spoke, you told me that you work

with a broker for your price quotes for the group

life benefits.

I would like to get your broker contact information

in order to be in consideration when they next do

their evaluations for you.

Hello, ___, my name is Lisa and I am calling with

[Insurance Company].

LEVER #1 LEVER #2 LEVER #3

The voicemail opens with a normal introduction.

1

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Experiment: Control

We are currently the fifth largest life insurance

carrier in the nation offering competitive rates and

solutions to help ease administration burdens.

When we last spoke, you told me that you work

with a broker for your price quotes for the group

life benefits.

I would like to get your broker contact information

in order to be in consideration when they next do

their evaluations for you.

Hello, ___, my name is Lisa and I am calling with

[Insurance Company].

LEVER #1 LEVER #2 LEVER #3

However, the next logical step is not the next sentence. It is buried further down.

2

1

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Experiment: Control

We are currently the fifth largest life insurance

carrier in the nation offering competitive rates and

solutions to help ease administration burdens.

When we last spoke, you told me that you work

with a broker for your price quotes for the group

life benefits.

I would like to get your broker contact information

in order to be in consideration when they next do

their evaluations for you.

Hello, ___, my name is Lisa and I am calling with

[Insurance Company].

LEVER #1 LEVER #2 LEVER #3

The next logical step would be to state the company value just before the final “ask.”

23

Only then could we make a logical “ask.”

1

4

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• The treatment script logically aligns every sentence into a careful argument.

• That argument is just enough to give the final ask 31% more force than the control.

But this

Hello, ___, my name is Lisa and I am calling with

[Insurance Company].

When we last spoke, you told me that you work

with a broker for your price quotes for the group

life benefits.

Since we do not nationally advertise and may not

have had the opportunity to work with your

consultant; we would like to share our

information with them.

I would like to get your broker contact

information in order to be in consideration when

they next do their evaluations for you.

LEVER #1 LEVER #2 LEVER #3

1

2

3

4

31%In Conversions

Experiment: Treatment

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Background: A physicians-only social network that allows medical product companies to conduct first-hand research on potential purchasers.

Goal: To increase the number of leads from a rented trade publication list.

Research Question: Which email design will generate the most opens, clicks?

Test Design: Multifactorial sequential test on a trade publication list

Research Partner: SermoRecord Location: MECLABS Research LibraryExperiment ID: TP2081

Experiment: Background

LEVER #1 LEVER #2 LEVER #3

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Control

• This email, though above average in many respects, still has conflated its objective with the objective of the landing page.

• It’s also asking for too much at this stage in the conversion process.

Experiment: Control

LEVER #1 LEVER #2 LEVER #3

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Treatment

• This email, however, uses each section of the content to guide the reader through a logical series of micro-conversions.

• The call-to-action asks for just the right amount of commitment at this stage of the conversion process.

Experiment: Treatment

LEVER #1 LEVER #2 LEVER #3

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Control Treatment

Experiment: Side-by-side

LEVER #1 LEVER #2 LEVER #3

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Design Clickthrough Rate

Control 1.55%

Treatment 3.16%

% Relative Change: 104%

Relative increase in lead inquiries 104%The treatment increased nurture email clickthrough by 104%.

Experiment: Results

LEVER #1 LEVER #2 LEVER #3

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Live optimization

Primary Audience

Primary Objective

Click to website to get more details

Projects that require in-house fabrications

http://bit.ly/1juZkz3

LEVER #1 LEVER #2 LEVER #3

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Summary: Putting it all together

FKey Principles

Lever #1: Anchor the message to the context Is the message clear to your prospect?

Have you justified the reason of the message?

Lever #2: Connect the value proposition to the prospect Is the message relevant to the prospect?

Does the message appeal to your prospect?

Lever #3: Align the argument to the “ask” Is there a clear and logical argument in your material?

Does the “ask” logically flow from your argument?

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Next Clinic: Background

Background: A large, well-known financial consultancy.

Goal: To increase the number of clickthroughs on the landing page.

Research Question: Which page will generate the highest clickthrough rate?

Test Design: A/B multifactorial split test

Experiment ID: TP1464Record Location: MECLABS Research LibraryResearch Partner: (Protected)

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Next Clinic: Version AVersion A

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Next Clinic: Version B

Version B

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Next Clinic: Side-by-sideVersion A

Version B

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Live April 9 at 4:00 p.m. EDT

• The exact page changes with before and after versions• The transferable key principles behind the changes• How to apply the same principles to your pages

Join the special one-hour Web clinic

To see the results

To join live, register at the link below:

MarketingExperiments.com/LiveOptimization52

Page 62: ME - Lead nurturing tested

See how you can conduct research with us

MECLABS conducts rigorous experiments in the new science of optimization. We apply our discoveries to help leaders optimize the financial performance of their sales and marketing programs.

Learn more about how you may be a fit for a MECLABS Research Partnership:

• Select Research Partnership Opportunities on the post-webinar survey

• Contact us [email protected]

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