the ultimate revenue engine: maximizing results through inside sales and marketing automation
DESCRIPTION
Join the leader in marketing automation and leader of inside sales automation as they come together to show you how to become a revenue machine by tightly aligning your sales and marketing processes.TRANSCRIPT
The Ultimate Revenue Engine: Maximizing Results Through Inside
Sales and Marketing Automation
© 2012 Marketo, Inc.
Today’s Speakers Jon Miller, VP Marketing and Co-Founder Marketo @jonmiller
Ken Krogue, President InsideSales.com
@kenkrogue
#RevEngine
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
ABUNDANCE INFORMATION
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Revenue Generation Must Fundamentally Adapt
Run more programs over more channels
Open the top of the funnel as wide as
possible
Leverage word of mouth and influence
marketing
Make fact-based decisions on program investments
Nurture and win the minds of self-directed buyers
Detect and exploit buying signals instantly
Prioritize sales time on most likely buyers
Respond to buyer interest quickly and
appropriately
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Revenue Generation Must Fundamentally Adapt
Run more programs over more channels
Respond to buyer interest quickly and
appropriately
Nurture and win the minds of self-directed buyers
Detect and exploit buying signals instantly
Prioritize sales time on most likely buyers
Open the top of the funnel as wide as
possible
Leverage word of mouth and influence
marketing
Make fact-based decisions on program investments
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
<25% of All Names Are Ready To Go To Sales
Source: Marketo actual data
50%
25%
25%
Marketo Data:
•% new Prospects not sales-ready: 81%
•Prospect to Lead time: 123 days avg.
•% Slow Leads: 66%
Source: RainToday
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
All N
am
es
Pro
spect
&
Recycle
d
Engaged
Lead
Nurturing
Lead Nurturing Plugs the Leak Building relationships with qualified prospects regardless of their timing to buy, with the goal of earning their business when they are ready.
Lead
Opportunity
Sale
s Lead
MQL
SAL SQL
“The art of maintaining permission to stay in front of your buyers as
they educate themselves”
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Lead Nurturing Relevance 1. BUYING STAGES • Early (Pre-MQL) • Mid (MQL) • Late (Opportunity) • Customer
2. PERSONA • Molly Marketer • Sam Sales • Jack Executive
Get The “Definitive Guide to Lead Nurturing”
http://bit.ly/DGtoLN
3. DYNAMIC CUSTOMIZATION • Industry Wrappers • Size Specific Examples • Localization
4-1-1 cadence
for content
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Lead Scoring Defined
“Shared sales and marketing methodology for ranking leads in order to determine their sales readiness”
Nurture Nurture Disqualify Pass to Sales
Pass to Sales
Fit Interest Buying Stage
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Hard ROI of Lead Scoring
We pass everything
to sales and let them cherry
pick
We score leads
based on fit
We score leads
based on fit as well as interest
0%
5%
10%
15%
20%
25%
30%
35% Revenue Growth vs Peers
We pass everything
to sales and let them cherry
pick
We score leads
based on fit
We score leads
based on fit as well as interest
0%
10%
20%
30%
40%
50%
60%
70% Sales Time Spent Selling
Source: Marketo Benchmark on Revenue Performance as of May 10, 2012 (N=300)
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
A Framework for Lead Scoring
Explicit What the prospect tells you
Inferred What you observe or infer
Fit Are you interested in them?
• Demographics
• Firmographics
• BANT
• Data append
• Data quality
• Corporate email
• Location
Interest Are they interested in you?
• BANT
• Latent behaviors (engagement)
• Active behaviors (sales readiness)
Get The “Definitive Guide to Lead Scoring”
http://bit.ly/DGtoLS
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Identifying Marketing Qualified Leads
21+ Super-Target
Lead Lead Lead
9-20 Target Lead Lead
2-8 Other Lead
<2
Engagement <20 20+ 45+ 90+
Buying Intent <6 6+ 13+ 19+
Fit
Inte
rest
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Using PowerDialer
Local Presence!
Call Reporting and Analytics
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Sales Insight
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Inside Sales Growth
15×
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
PowerDialer Immediate Response
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
46.5% 41.5%
35.3%
20.2% 13.6%
25.2%
0%
20%
40%
60%
80%
100%
MakingContact with
Leads
AccessingDecisionMaker inCompany
Knowing whoto Contactand When
InaccurateLead
Information
Lack ofProduct
Knowledge
Other
Top Sales Rep Obstacles
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Response Time
Contact rates
significantly
drop off after
5 minutes
Contact Rate 100x decrease from 5 min to 30 min
Qualification Rate 21x decrease from 5 min to 30 min
Contacted Leads
Qualified Leads
Immediacy
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
% Sales by Call Attempt
Source: InsideSales.com Internal Study
Persistency
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Optimal
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Best times to contact
Are between
8–9 and 4–5
Time of Day
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Best days to contact are
Wednesday and Thursday
Day of Week
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Used with Permission from Vorsight
Direct Dial Phone Numbers
Associate
Average
Meetings Per
Month (last 3)
% Direct Lines
on Contact List
Rep 1 11 51%
Rep 2 13 45%
Rep 3 20 76%
Rep 4 22 74%
Rep 5 29 87%
Rep 6 33 97.6%
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Caller ID
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Omniture Summit 2008 526 54.9% 54:06 1.74
Dreamforce 2008 124 53.2% 44:31 1.14
Dreamforce 2009 2,875 39.9% 41:07 1.07
Cloudforce 2010 472 30.7% 49:49 1.32
Leads Con East 2010 57 35.1% 56:05 2.00
Dreamforce 2011 3,051 51.4% 57:28 1.20
AA-ISP 2011 159 54.7% 40:24 2.60
AA-ISP 2012 696 64.2% 20:11 2.05
ResponseAuditTM - Immediacy
Source: InsideSales.com Response Analysis Studies
Hours 46:53
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
Source: InsideSales.com Response Analysis Studies
Omniture Summit 2008 526 54.9% 54:06 1.74
Dreamforce 2008 124 53.2% 44:31 1.14
Dreamforce 2009 2,875 39.9% 41:07 1.07
Cloudforce 2010 472 30.7% 49:49 1.32
Leads Con East 2010 57 35.1% 56:05 2.00
Dreamforce 2011 3,051 51.4% 57:28 1.20
AA-ISP 2011 159 54.7% 40:24 2.60
AA-ISP 2012 696 64.2% 20:11 2.05
1.30
ResponseAuditTM - Persistency
Copyright © InsideSales.com Inc. All Rights Reserved Copyright © InsideSales.com Inc. All Rights Reserved
#RevEngine
7 Rules to Increase Contact Rates
① Respond Immediately
② Respond Persistently
③ Respond Optimally
④ Best Time of Day
⑤ Best Day of Week
⑥ Direct Dial
⑦ Local Caller ID
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Key Takeaways
1. Sales doesn’t want names, they want win-ready leads
2. <25% of new prospects are sales-ready
3. Nurture and win the minds of self-directed buyers
4. Prioritize sales time on most likely buyers
5. When you detect buying signals, follow the seven rules to maximize contact rates
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
Stay Tuned
#RevEngine © 2012 Marketo, Inc. #RevEngine @jonmiller
See how fast you can be successful with Marketo’s easy and powerful marketing automation
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Discover new sales intelligence.
Learn how to DOUBLE contacts.
Drive higher revenue.
Gain a little street cred.
Questions?
Jon Miller @jonmiller
[email protected] Subscribe to blog.marketo.com
Ken Krogue @kenkrogue
[email protected] Follow me on Forbes.com
Connect with me on LinkedIn
Thank you!