11 Tips to Optimize Your Multichannel Marketing Campaigns
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11 Tips to Optimize Your Multichannel Marketing Campaigns
- 1. 11 Tips to Optimize Your Multi- Channel Marketing Campaigns Presented by Tom Judge •VP Strategy, Direct Marketing Partners (DMP) •VP Co-Chair, Direct Marketing Association of Northern California •Chair, NorCal BMA Sales Lead Roundtable
- 2. Agenda • Challenges in B2B Multi-Touch Campaigns • 11 Tips • Case Studies
- 3. CMO Council: Reports the Problem Half of companies do not achieve sales quotas
- 4. CMO Council: Reports the Cause “It is clear that companies do not manage business leads in a way that optimizes their quality or value. After spending large sums on their initial acquisition through costly media campaigns and multi-channel content marketing programs, only a small percentage of companies effectively act on, nurture, convert, close, recover, or re-qualify leads over time.” The CMO Council 2011 State of Marketing Report
- 5. B2B Marketing Challenges Top 2 = our focus
- 6. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 1: Clearly define a “Sales-Ready Lead” Action item: Define each type of type of sales lead and stage in your end to end funnel. Write it into the plan AND get management and stakeholders to sign the document.
- 8. DESIGN LEAD SPECS SO THEY MEET THE SALES TEAM’S REQUIREMENTS Profile Segment Trigger events Compliance Access to funding Size of opportunity Time frame Urgency Willingness to move forward and engage with sales team?
- 12. Three Segment Example: Lead to Sale Touch Metrics BroadSoft Market to Sales Lead Funnel Plan Project Name: Seat Sales Lead-to-Sales Strategy A: Large Ent. B: SMB C: Very SMB 1,000,000 Seat Scenario Segment Segment Segment 1. SALES REVENUE: Goal 80% Goal 10% Goal 10% Annual Sales Goal in Units 100,000 800,000 100,000 Estm. Units per sales 5,000 30 5 # Sales Required 20 26,667 20,000 Estimated Closed Rate on Pipeline Opps. After Demo 25% 33% 33% # Qual Leads Convert to Demo & Proposal / Pipeline 80 80,808 60,606 Est. forward conversion rate from qualified lead to Demo & Pipeline 50% 67% 67% # Qualified Leads Required @ A/B Level & Demo 160 120,609 90,457 Annual (Prospects meeting qualification criteria) # Qualified Leads Required @ A/B Level & Demo 13 10,051 7,538 Per Month (Prospects meeting qualification criteria) 2. MKTG. INQUIRIES and CONTACTS: A/B Qualification Rate of 1:1 OB Contacts/IB Inquiries into Sales-Ready 10.0% 10.0% 10.0% Leads # of 1:1 Touches OB/IB Contact Interviews Required per Month (Scripts Completed w/ More In depth BANT+ Profiled Needs Gathered in this 133 100,508 75,381 Model)
- 13. Formalize the Multi-Channel Lead Gen Campaign Plan & Touch Metrics # Qualified Leads Required @ A/B Level & Demo Per Month (Prospects meeting qualification criteria) 67 3. MKTG. STRATEGY to FILL the PIPELINE: Campaign #1: E-Mail + OBTM (to tele-qualify & set appt.) 26 Campaign #2: Dir. Mail + OBTM (to tele-qualify & set appt.) 0 Campaign #3: OBTM Teleprospecting Alone (non-responders) 15 Campaign #4: PPC Paid Search Adv. No Telequalification. 6 Campaign #5: SEO Organic Search + OBTM (to tele-qualify & set appt.) 0 Campaign #6: Trade Show + OBTM (to tele-qualify & set appt.) 15 Total Pre-qualified field sales force ready Leads/ Mo. 62 Difference -5
- 15. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 3: Ensure prospect data accuracy Action item: Make the courageous move to fix and standardize the prospect database. Hint: This is a never ending task.
- 16. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 4: Segment your target markets into smaller more manageable target sub segments. Action item: Compare campaign performance by segment to identify better performing markets to focus resources better..
- 17. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 5: Implement a system & lead mgmt. team that gives you full visibility into all of your campaigns Action item: Have the right talent and an executive dashboard reporting toolto manage your lead funnels
- 18. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 6: Sync up relevant content, personalized messaging to tell your compelling story & differentiate Action item: Create a sequence of relevant content to deliver to prospects over time to earn the right to ask the qualification questions.
- 19. Optimize with Personalization Optimizing a landing page ADDITIONAL 30% LIFT IN LEADS can increase conversion SIMPLE INTEGRATION rates 2.3 times (TO PRE-FILL FORMS) 2.3X 30% Pre-Fill Forms NO INTEGRATION Personalization In REQUIRED 60% Landing Page 100% LIFT IN LEADS Personalization In 40% Outbound Medium Average Optimized Landing Page Landing Page
- 21. Rovi Multi-Channel Campaign Email
- 22. Banner Ad in Tech Crunch
- 23. Banner Ad in Gigaom
- 26. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 7: Include tele-qualification in the touch process Action item: We suggest running a three-month A/B test using email + telemarketing in the lead nurturing and qualification process and measure the ROI.
- 27. Tele-qualification can increase the amount of sales qualification data points gathered & B2B qual. rates
- 29. Landing Page
- 30. Metrics – Email Alone EM Broadcast to 14,769 EM Click Through @ 1%= 161 Conversion to Demo @ 10% = 16 Qual. Lead = Interest & Registered for Demo .1% conversion ratio of EM sent to qual. demo lead
- 31. Metrics Email with Outbound Telemarketing Integrated OBTM follow up calls to non-responders @ 7,513 Prospects Contacted & Graded @ 33%= 2,511 Now cleaned & captured, most are now in the opt-in database Prospects Scripts Completed & Needs Captured @ 26%= 662 1:1 relationships now established Conversion to Demo Sales-Ready Leads @ 32% = 217 Qual. Lead = Interest & Registered for Demo 2.9% conversion ratio of Calls to qual. demo lead
- 32. Results: Multichannel Boost of 13X Conversion to Demo: From 16 via em alone to 217 via combined em+tm 217 Multi Channel Boost Email Telemarketing Email, Conversion to Demo, 16 13.6
- 33. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 8: Prospect Nurturing is critical Action item: Use your multi channel lead management touch metrics dashboard to track response as you make multiple contacts and thus identify the best combinations to optimize conversions to “sales-ready”. AKA, that “sweet spot”.
- 34. Value of Nurture: Business Case Prospect Contact # 1 50% of sales people have given up Contact # 2 65% of sales people have given up Contact # 3 79% of sales people have given up You harvest low hanging Contact # 4 89% of sales people have given up fruit Just now you are becoming a factor in your Contact # 5 prospect’s mind Contact # 6 Nurturing slowly, your prospect You are gets to know you earning top of Contact # 7 mind awareness Contact # 8 You are probably the only person to make 8 contacts At this point when you Contact # 9 with this person prospect is ready to buy, you have a 90% Contact # 10 chance of being called Contact # 11 Contact # 12 Customer *Microsoft study
- 36. Multi-Channel Campaign: 3D Mailer + PURL
- 37. Direct Mail - Letter (Multi-Channel Campaign)
- 38. Direct Mail – Brochure Cover
- 39. Anritsu Direct Mail - BRC (Multi-Channel Campaign)
- 40. Anritsu Email
- 42. BTS Master Campaign % IB Response Rate Metrics Metrics: Combined Email and Direct Mail Results Qualification IB Response Landing Page Rate on LP Broadcast Drop Date Delivered Rate Capture Rate Submissions DM-BTS PURL EVDO 9/08 679 6.63% 3.83% DM-BTS PURL WCDMA 9/08 679 7.36% 4.27% DM-BTS PURL WiMAX 9/08 59 13.56% 3.39% 57 = 4.02% of 28 = 49% of TOTAL 1,417 103 = 7.27% TTL Delivered LP 55% of LP Submissions Response to direct mail & email broadcasts was outstanding. Industry norm qualification rate = 5% to 10%. 7% visited the PURL, and 4% filled out the contact form or The BTS Master campaign’s multi-touch strategy improved 55% of those going to LP conversion to sales-ready lead five fold.
- 43. BTS Master Campaign % Outbound TM Touch Metrics Target Calling Metrics: For 57 IB responders & 1,410 non-responders Project Metrics Overview Comple Compl Call Remai ted eted Hrs/De Funded Hours ning List Number Record Script Calls/H Record Script mo Demo % Call Hrs Called Hours Size of Calls s s our s/Hour s/Hr Reg. of TCS 170.0 170.00 0.00 1,467 3,862 876 244 22.72 5.15 1.44 1.39 49.18% Leads Campaign Results Inapprop Total Inappro riate Leads % priate contact, & Uncalla Uncalla Contact Future Future New ble ble No Opportu Opport Recor Record Record Opt- Referral Referral A+ A- B C nities unities ds s s Out given given 31 34 53 2 2 122 111 298 34.0% 8 104 120
- 44. BTS Master Combined Campaign Touch Metrics Combined IB & OB Calling Metrics & Results Presentation Prospects Completed Qualification Engaged/ (TCS) TTL into Sales- Updated Completed Ready Lead Broadcast Drop Date Targets Validated Scripts from TCS DM-BTS PURL EVDO 9/08 667 484 = 73% 126 =26% 70 = 56% DM-BTS PURL WCDMA 9/08 626 390 = 62% 102 = 26% 47 = 46% DM-BTS PURL WiMAX 9/08 37 19 = 51% 3 = 16% 0 = 0% Addtl Others 9/08 137 34 = 25% 13 = 38% 3 = 23% TOTAL 1,467 927 = 63% 244 = 26% 120 = 49% Industry norm qualification rate = 5% Total targets to pursue to 10%. The BTS Master campaign’s multi-touch strategy improved response five fold.
- 45. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 9: Use a compelling offer with staying power. Action item: ALWAYS OFFER something of perceived value.
- 46. Business to Business Offers Responsivenes Optimum Offer Qualified(1-5) s (1-5) Offers ROI calculators 3 5 15 Whitepapers/ Guides 3 4 12 Case studies 4 3 12 “Relevant” giveaways 4 3 12 Video clips or demo 4 3 12 Webinars 2 5 10 Live events 1 5 5 Free giveaways 5 1 5 Tradeshows 2 2 4
- 47. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 10: Make your call-to-action progressively more urgent as the campaign proceeds. Action item: Emphasize urgency as an upcoming compliance or deadlines approach. You can also use discounts with limited time offers as your deadline.
- 48. 11 Tips to Optimize Your Multi-Channel Campaigns Tip 11: Analyze KPI metrics in light of the original touch plan & make refinements during campaigns Action item: Analyze results metrics from end to end. Adjust tactics to improve each metric.
- 49. Track Sales Pipeline KPIs and ROI View sales pipeline results & ROI from your sales leads Sales Won:10 Sales Lost:20 Total CY Value Total Lifetime Value Total CY Value Total Lifetime Value $ 299,507.00 $ 651,445.00 $ 120,800.00 $ 308,800.00 $38,750.00 $61,100.00 $5,500.00 $6,000.00 $34,100.00 $61,200.00 $69,503.00 $103,648.00 $5,970.00 $11,940.00 $73,050.00 $99,600.00 $ 103,450.00 $ 417,400.00 $ 25,000.00 $ 7,010.00 $ 12,120.00 $ 86,975.00 $ 145,900.00 $ 185,463.00 $ 539,168.00 $ 238,845.00 $ 404,740.00 ROI 2012 on Deals Won Actual Lifetime Value Reported Win Plus Loss of Deals Won Amount Invested PipelineRevenue Analysis $539,168.00 $ 78,000.00 5.9:1 11.1:1
Notas do Editor
- Housekeeping announcements:Tom Judge Speaker Credentials: A 15 year practitioner in b2b sales lead industry. On both the end client side and the service agency side.VP Strategy & Bus Dev at Direct Mktg Partners. We operate a multi touch multi channel contact center, firms hire us because we specialize in planning, generating and qualifying sales-ready leads to businesses that need to feed sales teams to make their sales quotas.I taught a course in Sales Lead Management at SJSU and UC in conjunction with DMA-nc.I also currently run the NorCal BMA Sales Lead roundtable in the Silicon Valley, where our members meet and explore cutting edge lead generation and management.
- Context: My background and case examples are B2B. One of which won an ECHO award at the DMA. I’ll insert action items for you.When you print the presentation be sure to select the Notes Page view.Most of my examples will be from firms with a complex sale process and a high lifetime value.My company manages many sales lead programs and measures all their KPIs, so the examples will be very relevant to these best practice tips that we see working.My assumption, is that you are all doing demand generation now in your jobs, and are running multi touch campaigns of some magnitude. And that you want to improve.
- The big problem
- In other words, the CMO Council survey indicates that that firms are not hitting their sales numbers because they do not optimize their end to end lead-to-sales process!They appear to be doing a great deal of demand generation campaigns but they don’t bring it home.Yes, we as a lead management firm see this quite frequently.This can be improved. My objective is to provide you with some proven tips that will shorten your learning curve, and boost your results.
- Source Marketing Sherpa, also concurs with the challenges of optimizing the lead-to-sales process. I’ll focus on top 2.Other issues: Not enough of the “qualified sales-ready leads” that will close into dealsLengthening buy & sales cycleFalling response rates to most all mediaHaving to market to multiple decision makersManaging multi-media touch points
- Sales and marketing teams must collaborateYes, create formal definitions of every stage in the lead to sales process and the “sales-ready” lead.Then get agreement, then get everyone to sign off!
- Each is a category of several background questions under each of the BANT that will provide more detail.Here is an example of those categories.Then, you go into the additional background to find out more on the opportunity.
- Here’s why:Today’s sales-ready lead profile has been expanded to help reduce the more expensive and time consumption of having the sales teams develop a prospect. This is now done for them, so they can focus on selling.Sales ready criteria is defined by the sales organization, not the marketing team. Nowadays, it goes well beyond basic web traffic scored leads. Be open minded to sales needs!Time frame to purchaseSize of opportunityWhether the purchase is budgetedJob title or buying roleWhether the respondent would like to see a sales rep or move forward in the sales process.
- There are three steps to plan out. Buying process/ selling process/ demand generation-lead generationThere will be multiple models for multiple market segments or solution/product lines.Have management sign off on these models!Run the numbers both bottom up and top down and create several models in your plan: Start at the buying processHow do they buy? Why would they buy any solution? Where do they research? How do they know they are in pain or have problems?? What are their triggers??Are they even aware they may have problems??Map the sales steps and current conversion rates to a saleCreate the multi touch demand generation, nurturing and lead qualification plan to feed that funnel. Create touch quotas for each touch metric.You will Measure all demand gen activities and compare back to these quotasAcknowledge that it takes multiple contacts before they decide to buy in most cases.
- Here is a multi segment requirements calculator.The main difference in calculators is:This shows multi segments A/B/C and their variablesHave different sales conversion rates
- Here we move into the demand gen/lead generation planning models.This is a summary of the “sales-ready” lead flows from each of the lead generation touch streams. Here we have 6 lead gen campaigns under one solution plan.This starts with the need for 67 sales-ready leads to feed the sales team to hit their sales numbers.You’ll want to monitor these numbers daily and or at least weekly.
- CRITICAL: This is one of a series of tactical funnel plans, that must include the multiple incoming inquiry lead sources as well as the outbound and nurturing efforts to make up the shortfall.Multiple models for each touch stream track: All Inbound sources and activities is key. SEO, PPC, Social, email broadcasts, content syndication. You can budget off of this metrics model.Note: As the CMO Council pointed out earlier, inbound leads often fall short on their touch quotas! Most firms are unaware of this until it’s too late and sales quotas are missed! Overcoming this deficit can be planned for using this modeling approach.Have all plans signed off on by senior management.Congratulations, These numbers are now your touch quotas!Now you’re ready to execute against your plan lead gen campaigns, remember, once under way compare your touch metrics daily/weekly to your plan to look for any shortfalls.
- Clean accurate prospect data is key. Significant gains will be made as a result.Rarely does an organization build a database from the ground up. More likely a new system is implemented on top of existing data. This is where the holes and gaps can develop, if different groups are collecting different data.Plug the gaps and inconsistencies in your marketing tools, database and CRM system.Create a formal data assessment and cleaning processHave all potential prospect records pass through it. Enable both small and large list submissions and one off inbound web inquiries.
- History indicates that smaller better focused solution campaigns outperform larger less focused campaigns.Messaging can be more focusedPenetrate the smaller numbers are easier and less costlyConversion rates are higherHint, filter inbound responses into your segments and monitor the touch quotas. Story of the 450,000 database but only a few thousand were in the target market segment.Web inquiries are hard to control and shortfalls often occur
- This is a critical inflection point for many companies. Get the manual process working first before you automate. Some firms reported that they purchased the software tools before establishing their processes, only to later find that they did not buy the package that could best fit their needs and they did not know their process.Multi-channel touch marketing is complex and some prospects will be touched dozens of times by multiple touch media vehicles. Track them all.Note, some marketing automation tools are limited to online activities only and do not track the critical off line touches. Plan for this.Lead management is critical to staying on your touch plan and metrics quota.Use a skilled team along with the right tools to do your lead management.Monitor the touch stream quotas closely and fix any stalls or under quota scenarios…ID Which go to market methods worked? What should be repeated? You don’t know what to budget for if it’s not being tracked and reported.
- I will not speak too much on the topic of content as others here at the show are on that. Do invest here.However, use clear relevant content and messaging as you will receive minimal mind share otherwise.Then use messaging across all the lead gen touch point media. Tie it all together as you may only have one chance to break through.Leverage the content to earn the right to gather the qualification information.Make your messaging relevant through the buyer's eyes and sequence it with the buyers journey.Your identity needs to be memorable. I loved an exhibitor at a recent DMA conference who themed their marketing around cupcakes with bright orange icing. The company offered hard-to-explain cloud computing solutions. They repeated the theme in collateral and web site and afterward tele-qualification reps called saying “we’re the folks with the orange icing, remember...”
- Sample of a highly personalized and intriguing campaign.Rovi Corp provides meta data services to firms that sell on line or are entertainment media using digital media.Small number of target markets.High $ spendersKey= Target prospect list was pre cleaned and tele-validated by the presales team in the contact center.Package: Gold looking coins with serial numbers on them + printed collateral was personalized and mailed.Followed up with PURL email.Followed up with a tele-qualification call.Trivia campaign about Rovi. Go on line and participate…
- Then aPersonalizedEmail sent, serial numbered targets
- Online banner ads
- Online banner ads
- Landing page allows them in to register and then play the trivia game.Very successful at using a fun contest and trivia to drive traffic, but minimal qualification questions are harvested! This was ok because we planned for it.So we tele-qualified them with a personalized call . Which a majority gladly accepted and discussed their needs and applications and provided qualification profile information.That leads us to the next tip.
- The DMA Reports that the telephone medium, (AKA telemarketing) when used properly, has the highest response rate of all the direct marketing media.Fact: People are busy and distracted and discontinue their online activity. Trying to get them to engage with you online all the way through the qualification cycle is getting harder and harder. Email response rates are falling and this is a major stall point in for many firms. This is the root problem that the CMO pointed out in our problem slide.In many business cases, not all, a telemarketing personalized touch is very effective at qualifying inbound responders to gather the remaining qualification questions.But more importantly, it is very effective at engaging the non-responders to engage them, listen and reply and convert more overall qualified leads out of a target list. The number one advantage of the personalized call is that you can listen to the prospect. Listen to prospects and exchange information that they require BEFORE they answer the qualification questions. We see significant volumes of prospects stuck in marketing automation. The human touch can be an accelerator.If a target market is segmented, and the response rate is several percent (i.e. 2%), then there are a great deal of non-responders (i.e. 98%) that you don’t know about. This is a major stumbling block for many marketers.Some marketers drop their inbound responders into a drip and forget campaign. For some, this works, however reports now show that many get stuck there.By not engaging in a tele-nurturing process, firms often can not earn the right to have the personalized conversations that allows you to ask the tough qualification questions.
- In May 2012, Sirius Decisions updated their demand gen process graphic and content to expand on the tele-qualification process as a key to the lead qualification process. It was found that many of the prospect stall points can be resolved by listening to prospects on the phone as they progress down funnel. Many times the human touch and dialog can uncover hidden objections and misconceptions that clog some prospecting funnels.Digital body language is sufficient for some types of businesses, but for many b2b firms online activity does not enable capture of the more advanced qualification criteria.
- Note the qualification to “Sales-ready” rate is only .1% of the prospect base. Monitor this in light of your touch stream metrics plan.
- We called half of the non responders.Significant boost in prospects engaged (33% vs. the 1% response rate), profiled the lead qualification conversion rates 217 sales-ready leads and demos.This was 2.9% vs. 0.1%
- Comparison. The boost rate was 13.6 X times using this 1-2 punch!
- One and done are history, so just do it!Lead nurturing is quickly becoming the big leverage point for successful firms. If they do it right…History indicates people won’t respond to a message until they have been exposed to it several times.Have a pre-sales focused lead nurturing group do this for you. Sales People will NOT do Pre-sales nurturing and qualification work as it does not pay commissions and they have poor data quality skills. To do it right, many firms are consider outsourcing this module. This can often improve speed and quality over limited in house resources.
- This is direct marketing: you want people to DO SOMETHING rather than simply absorb your message.Use the offer to differentiate your company.Make a tangible offer such as an ROI calculator, webinars, white papers, and fact kits that they can use AND that indicates your company is an industry leader, capable of solving their issues.
- Classic marketing will start with an introduction, expand into specifics, then qualify harder as a sense of urgency increases.
- This is continuous improvement 101.Many times marketers are going at such a fast pace, they don’t stop to measure, learn and adjust from their efforts. They wait till someone tells them they are in trouble.Think of this as a financial retirement model.Set up your campaigns with the idea of testing, benchmark campaign result metrics, then make tactical changes where needed to hit your funnel lead quotas.Constantly monitor prospect lead conversion rates and the sales conversion numbers compared to the master plan and sales goals. Test the important things: offer, lists, creative, messaging, content and touch sequence conversions.
- Sync all lead pipelines and analyze ROI.