The Product Marketer is responsible for ensuring demand for a product in the market, and part of that responsibility is “guiding” marketing programs that will drive that demand. Without a clear understanding of the Product Marketer’s role in demand generation, demand generation programs too often lack clarity and focus and deliver marginal results. But what does this really mean for the Product Marketer? What must the Product Marketer know and be able to do to effectively drive demand?
In this webinar, you’ll learn:
A clear definition of Product Marketing’s role in demand generation
How Product Marketing interfaces with the rest of the marketing organization
How to define program goals
How to determine the best methods of customer acquisition
How to define program metrics and monitor the marketing and sales funnel
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Driving the Marketing and Sales Funnel to close Deals: What Product Marketers Must Know and Do
1. Driving the Marketing and Sales Funnel
to Close Deals: What Product Marketers
Must Know and Do
Tom Evans
CompellingPM
@compellingpm
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2. DFW Product Group
• DFW Product Group is the premier product management and
marketing association in the Dallas/Fort Worth metroplex
• 300+ active members
• 2013 - 2015 roadmap includes webinar series, networking
mixers, and ProductCamp DFW
• Website: http://dfwproductgroup.org/
• LinkedIn: https://www.linkedin.com/groups?gid=2796125
• Twitter: @DFWProductGroup
• Email: info@dfwproductgroup.org
• Actively seeking new members, volunteers, and sponsors
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3. Special offer from CompellingPM at
the end of the webinar.
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4. Driving the Marketing and Sales Funnel
to Close Deals: What Product Marketers
Must Know and Do
Tom Evans
CompellingPM
@compellingpm
Copyright 2013 - 2015. The Lûcrum Group, Inc. 4
5. The Role of Product Marketing
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6. Poll Question 1
What is the role of Product Marketing in helping to
drive revenue via marketing programs?
a) Defines the strategy and direction for market
programs to support revenue goals
b) Creates sales & marketing tools
c) Executes marketing programs
d) All of the above
e) A & B above
f) B & C above
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7. Role of Product Marketing
• Achieve revenue targets
• Set promotional strategy and objectives
• Defines programs that will be most successful
in achieving revenue goals
• Defines adjustments to strategies and
programs to correct gaps in revenue
• Develops the right content and tools
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8. Who Executes Marketing Programs?
• Marketing (aka Corporate Marketing,
Marketing Communications)
• Based upon programs defined by Product
Marketing
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10. Where Market Communications Fits
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Marketing Communications
• Makes content, tools and messages more compelling and engaging.
• Executes Marketing Programs (Corporate and Product), to include:
websites, events, direct marketing, online marketing, social media,
advertising, public relations, etc.
• Operates marketing automation & CRM systems and tracks and
reports on marketing metrics.
11. Keys to Effective Marketing
Programs
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12. Poll Question 2
Which factor is most important for the Product
Marketer to deeply understand in order to be
able to define effective market programs?
a) Who are your customers (buyers)
b) Why they buy
c) How they buy
d) All of the above
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13. Key to Successful Marketing
• A deep understanding of your target markets!
• Who they are
– Personas
• Why they buy
– Market Needs
• How they buy
– What is their buying process
– Where do they look
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14. Deep Understanding Drives Marketing
14
Messaging Platform
Messages targeted to
each buyer/user persona
Marketing Tools
Answers key questions by
buying phase
Targeted to right
buyer/influencer
Media & Programs
Targeted to where buyers
look for information
Sales Enablement
Sales communicate right
messages at right time to
right buyer
Understand Buyers & Users
Who They Are
Why They Buy
How They Buy
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15. Effective Marketing Programs
• Targets customer where they are (right media)
– listening, reading, watching, looking, searching
• Communicates consistent & synergistic
messages that create
– Awareness, Differentiation, Demand, Competitive
Advantage
• Measurable objectives to evaluate
effectiveness
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16. Which Marketing Programs?
• Understanding the buyer and buying process
• What has worked?
– Metrics on previous programs
– Metrics for programs on similar offerings
• Experimentation
– Test programs or versions of programs on small
sample of market
– Evaluate results for effectiveness
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17. Your Marketing Programs Weapons
• Promotion
– Relevant & targeted marketing programs for the
buying process
• Price
– Pricing promotions to encourage trials, adoption
• Place
– Promotions through distribution channels (SPIFS,
Sales incentives)
• Product
– Bundling, limited edition, etc.
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18. Discover the Buying Process
• What are the typical phases of the buying process?
• Who are the typical buyers & influencers?
• Who is involved at each phase?
• What are their main concerns at each phase?
• What are they doing at each phase?
• What are the typical barriers to moving ahead?
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19. The Sales & Marketing Funnel
19
http://www.realtyninja.com/blog/wp-content/uploads/sales-funnel.png
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20. Metrics
• Indicators of progress against objectives
• Acquisition metrics
– Source, volume, conversion (% and velocity), cost
• Buyer metrics
– Purchase size, frequency, profitability, period, lifetime
value
• Customer Loyalty
– Net Promoter Score, churn, renewals, referrals
• Revenue & Profitability
– Per source, segment, growth
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21. Testing to Improve
• Test & improve (e.g.)
– Marketing technique (or type of promotion)
– Copy or messages
– Design
– Media
– Website landing page
– Images
• Measurement is essential
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22. Testing Process
• Define new marketing program (or version)
• Select a statistically significant representative
sample of target market
• Run program, measure results
• Evaluate, adjust, re-test, rollout
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23. Driving the Marketing & Sales
Funnel to Achieve Revenue Goals
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24. Poll Question 3
Who in your organization is responsible for
driving the marketing & sales funnel
a) Sales
b) Marketing
c) Product Marketing
d) All of the above
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25. Funnel Definitions
• Suspect – Everyone in target market
• Prospect (Contact) – Looking to solve a
problem
• Lead – Fits your qualification criteria (need,
interest)
• Opportunity – In a position to make a
purchase (need, interest, budget, authority)
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26. Managing the Funnels
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Programs
Tools
Conversion
Suspect
Lead
Lead
Prospect
Prospect
Opportunity
Opportunity
Customer
Programs
Tools
Scoring
Conversion
Programs
Sales
Tools
Scoring
Conversion
Sales
Tools
Conversion
Programs
Tools
Conversion Loyalty
27. Funnel Math
• How many impressions must you make to
convert suspect to prospect?
• How many prospects do you need to achieve
your target for sales (customers)?
• What is the velocity to convert prospect to
customer?
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28. Lead Qualification/Scoring
• Ensure leads are sales ready
• Work with sales / Start with perfect lead
• Demographics
– E.g., revenue, employees, project budgeted, company
profile, buyer role, order size, urgency
– BANT – Budget, Authority, Need, Timeline
– Source
• Interactions
– Forms completed, click email links, downloads, website
pages, phone call, data completeness
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29. Keys to Accelerating Revenue
• Map the buying process
• Reach the right buyers
• Generate more leads
• Improve lead quality
• Improve conversion
• Increase retention & renewals
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30. Summary
• To effectively drive revenue through the
marketing & sales funnel(s):
– Deep understanding of how & why target markets
buy
– Clear defined strategy and objectives
– Marketing programs based upon metrics
– Adjustments using marketing weapons to achieve
objectives
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31. Poll Question 4
Which action will create the most positive
impact on your funnel performance?
a) Deep understanding of markets
b) Clearly defined strategy & objectives
c) Improvement in defining and monitoring funnel
metrics
d) More effective use of all marketing weapons
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32. Go-to-Market Webinar Series
http://compellingpm.com/go-to-market-webinar-series-with-dfw-product-group/
Webinar Title Date
The Strategic Role of Product Management & Product Marketing in Driving Product
Revenue & Success
Apr 23
Developing a Deep Understanding of Your Target Markets – The Starting Point for Great
Product Marketing
June 11
Define a Powerful Go-to-Market Strategy That Sets Your Product Apart June 25
Great Requirements Form the Foundation for Successful Products July 16
Profitable Products Sell Value: Why Value-Based Pricing Wins August 13
From Messaging Nightmare to Messaging Delight: How to Create a Powerful Messaging
Platform
Sept 17
Create Effective Sales & Marketing Tools That Actually Get Used By Sales & Prospects Oct 15
Nothing Happens Until Someone Sells Something: Enabling Your Sales Channel to Success Nov 19
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers Must
Know and Do
Dec 11
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34. Upcoming Austin PM2 Training
• AIPMM Certifications – Certified Product
Manager (CPM)
– Feb 16 – 17
• Optimal Product Management & Product
Marketing
– Apr 11 – 13
More dates/locations - www.280group.com
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35. Free 1 Hour PM/PMM Consult
• First ten to submit information on form
• http://compellingpm.com/freeonehour/
• Please include background on topic or issue
• Must include company info (no Gmail)
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