Friday, December 10, 2010

6 Marketing Automation New Year's Resolutions - #5

Marketing Automation New Year's Resolution #5:
TIGHTEN THE PLUMBING

There are 4 parts to this:



Step 1: Identify all funnel leaks
There are typically 3 areas of the funnel that leak:
  • Sales Ignored Leads
  • Sales Rejected Leads
  • Customer Retention and post sale Cross-Sell/Upsell opportunities

Tighten your funnel metrics to provide insight into all 3 of these typical leak sources. Institute a deadline for sales to either accept your MQL or reject it, within a certain period of time. Find out how long sales really needs to make a decision about these and then develop a process that manages these leads after the cutoff period. Consider reassigning the lead or drop them into a sales-rejected lead nurturing programs. I wrote about this in a recent blog post called Funnel Goo.

Step 2: Build/Modify Nurturing/Scoring Programs to Plug the Leaks
If you discover a significant leak where sales is rejecting or ignoring an unusually high number of MQLs for example, build a specific nurturing program just for this leak. If a relationship has already been established with a sales rep, marketing can continue to own the conversation but can, through marketing automation make it appear that the message came directly from the sales person.

Sales people love this, since they don’t have to do much except answer their phone or their email, should the lead reach out. Marketing loves it because they regain control of an already nurtured lead, one that marketing has already spent time and money to acquire and nurture.

You might also consider creating a separate sales-rejected lead scoring program just for this group. For example, say you are getting lots of web leads who turn out to be college students. Sales rejects these, but marketing can nurture and add them to a long-term scoring program, tracking their activities all the way through graduation and onto their initial career path.

By the time they have the ability to make a purchase they already have a great long-standing relationship with you! Granted it’s a long-term approach, but what better way to grow your own leads who are often literally raving fans by the time they reach career readiness.

Step 3: :Leverage Better Data to Drive More Relevant Conversations
If you followed and adopted Resolution #3, you’ve repaired your data to the point that you can start to really start taking advantage of it. Target your new found segments to take relevance to an even higher level. Your segments will get smaller and your messaging more precise. This is where you can really start to make traction towards right time, right person right message targeting.

Step 4: Communicate What’s Working
Larger companies in particular sometimes work in Silos. Different regions or verticals generate a particularly successful campaign without word of it getting out to the rest of the global organization. China might have tremendous success with an SMS campaign combined with email that could be re purposed and replicated elsewhere for instance.

When something works, especially if it beats your existing benchmarks, don’t keep it a secret. Make sure there is a vehicle that communicates the wins on a regular basis. Maybe an internal marketing newsletter or “Win of the Month” internal email. Often teams end up competing for Best Metric awards.

Updated 5-8-12
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See all 6 Marketing Automation New Year's Resolutions:

Resolution #1 - Establish Corporate Alignment
Resolution #2 - Establish One View of the Truth
Resolution #3 - Establish Data Standardization
Resolution #4 - Fill in the Content Gaps
Resolution #5 - Tighten the Plumbing
Resolution #6 - Harvest the Unknown Visitor

Steve Kellogg
-Demand Generation/Marketing Automation Consultant, Astadia
-Eloqua Certified Marketing Best Practices Consultant

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1 comment:

  1. We use marketing automation software because we believe that it is a big help to our company.

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