Archive for May, 2009

Engagement Marketing And Lead Management

Thursday, May 14th, 2009

Spent a very interesting morning at the Silverpop B2B Masterclass in London yesterday. Hitting just the right balance of education and solution selling, there were some interesting presentations and good ideas. I thought it would be worth picking out a few in particular from the opening presentation by  Silverpop VP Will Schnabel. You can view the complete slideset on Slideshare, but here are some highlights.

  • Marketing extends further into the pipeline – in the past, potential customers would pick up the phone and ask for a sales rep to come round to explain your products. Now, the savvy purchaser reviews your products online, reads whitepapers and case studies, seeks references and gains an understanding of your product sector. These are all areas where Marketing is now required to deliver, so that by the time Sales are called in, the prospect is in a much more advanced stage of the purchase cycle. As such, Marketing must rise to this challenge and fulfill an education and sales preparation role, ahead of an actual buying conversation. Crucially, this also means “plugging the leaky funnel”, where prospects fall out before they get to the point of Sales engagement due to poor materials and general lead management.
  • Data capture – take web visitors through a sequence of data gathering steps rather than a one-off capture of everything you can think to ask. Responders will be turned off by very long forms with lots of questions, so ask for additional information at every interaction to build up a picture. It was suggested in the session that there probably isn’t a magic number of fields or forms to optimise this process – it may be unique to your business – so some experimentation may be required. And on the subject of data capture, don’t allow yourself to be locked into backend data processing requirements (such as field layouts), if it doesn’t suit the information you actually need. Also, consider utilising data capture techniques, the likes of which I’ve written about previously.
  • Lead scoring – this is a key element of lead qualification, using various criteria to determine the value of a lead and the appropriate next steps. These criteria can be grouped into three areas: demographic (contact role, type of organisation etc), “BANT” or the actual position of a prospect to buy, and activity (website downloads, event attendees, information requests). These techniques should be built into an overall lead scoring mechanism appropriate for your business to judge what is passed to Sales, and what remains within Marketing for ongoing nurturing.
  • Lead maturity model – a useful way to assess your own lead management sophistication, this four stage model suggests the areas that should be addressed for best practice lead management. Incorporating both demand generation activity itself, together with lead handling, it’s a valuable benchmark for your own activities. (Take a look at the slides for more details.)

In all, a worthwhile morning aimed at helping marketing secure one outcome in particular – “revenue velocity”, or increasing the rate at which an initial lead is converted to a sale, which must rank as a top priority for all marketers.