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B2B Lead Generation Articles on lead nurturing
- Affordable Transaction Economics
B2B Marketing Confidential | Sep 10, 2010 | Permalink
I'm always looking for more scientific ways to spend money on marketing, as people who consistently read this blog know. I spend a lot of time looking at Return on Marketing Investment (ROMI), for example. Lately, I've been dealing a lot with pipeline marketing strategy, and I stumbled upon something that is probably fairly obvious, but I thought I'd outline it formally. My friend and mentor Tim Furey wrote a book in 1999 called The Channel Advantage. It was a great book, and its simple premise was "match the transaction to the channel that can afford to handle it." There were other key ideas, but this was the one that stuck. In other words, rebuy channels go through e- and tele-channels, big new servers through face-to-face. The reason, simply, is that it costs $10 to take an...
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- Seven prospecting rules that produce leads
B2B Lead Generation Blog / Brian Carroll | Sep 10, 2010 | Permalink
The phone is still a powerful and effective lead generation tool. It is inarguably the human touch of a lead nurturing program. That’s why every opportunity - including cold calling - should be treated with great respect. Each time you...
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- Steps for creating a true lead nurturing program
B2B Lead Generation Blog / Brian Carroll | Sep 10, 2010 | Permalink
Sometimes in an attempt to vamp up lead nurturing efforts, misguided and well-meaning organizations simply start sending out more emails. When email is misused in this manner, companies are really just training prospects to ignore or delete their messages. See...
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- A multi-modal approach to lead nurturing
B2B Lead Generation Blog / Brian Carroll | Sep 10, 2010 | Permalink
To be successful at lead nurturing marketers can't rely on one specific channel but rather they need to leverage a multi-modal portfolio of channels especially when you have a complex sale. Why? The goal of lead nurturing is to maintain...
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- How to Design Lead Nurturing Programs that Drive Sales webinar with Ardath Albee
B2B Lead Generation Blog / Brian Carroll | Sep 10, 2010 | Permalink
You’ve probably seen a lot of discussions regarding lead nurturing lately. People want to know: How can I create enough content with my organization’s limited resources? How can we develop a nurturing program that actually builds our pipeline? What measurements...
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- Lead Generation Check list – Part 8: Lead nurturing for lead development
B2B Lead Generation Blog / Brian Carroll | Sep 10, 2010 | Permalink
To help you start the New Year, I’d like to wrap up my Lead Generation Checklist Series with the secret to successful lead generation – and, for that matter, marketing in today’s B2B space: lead nurturing. At it's core, B2B...
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- What is lead nurturing?
The Innovative Marketer | Sep 09, 2010 | Permalink
Salesforce.com’s big Dreamforce conference is over. The keynotes have been distilled down to talking points for the media. The hangovers from the after parties have been dealt with. The Black Crowes have flown away, the hangovers from the after parties...
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- Closed Loop Marketing – still a long way to go
Buzz Marketing for Technology | Sep 04, 2010 | Permalink
Ok I know we all talk a good game about Closed Loop Marketing and I don’t want to burst anyone’s bubble here but frankly we aren’t there yet. Yes we forced the loop to close with some great technologies over the last few years. CRM systems, MRM systems, Lead Nurturing systems and the list goes on. [...] No related posts. Related posts brought to you by Yet Another Related Posts Plugin.
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- 5 Tips to Improve Channel Partner Lead Generation
Hubspot | Sep 03, 2010 | Permalink
Online marketing is unique for each business. For large businesses that rely on channel partners to sell and distribute products, the online marketing process can be a challenge. With many channel partners across multiple locations, how can a business make sure that partners have the leads they need to help grow the business? In a recent conversation with a channel marketing manager I was asked, “What can I do now to get my partners and resellers found?” As with many channel marketing managers, their time is very constrained, but the need to do more lead generation for their resellers is ever present. Additionally, they often talk about how their resellers do a great job once someone is introduced to them, but often their own websites are not helping them bring in new leads. After askin...
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- Expert Advice: Overcoming Inbound Marketing Challenges
Hubspot | Aug 31, 2010 | Permalink
Here at HubSpot we sing the praises of Inbound Marketing from the rooftops. Yes, it is an amazing way to see growth in your SEO goals, website traffic, leads and customers. It helps you develop a deeper engagement and establish yourself as a thought leader. But, that doesn’t mean it’s always easy. Proper inbound marketing can take a lot of hard work. We asked the HubSpot Partners what they think the hardest part of inbound marketing is and how they work through these challenges. Partner Teicko Hubert of Focus to Grow believes the hardest part is the understanding “of the cultural shift that has to happen to make inbound marketing work” and that “a website is merely fiction unless you understand how inbound marketing works.” That said, Teicko believes that this change can be overcome, bu...
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- Best Practices That Need to Die Week 2
Demandbase | Aug 26, 2010 | Permalink
Many B2B marketers have too many leads in their database who have never been followed up on. Essentially, there is a lot of untapped revenue in those databases, that can be extracted with improved lead nurturing processes. The result: you generate additional revenue from your existing leads.
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- Marketo's Definitive Guide to Lead Nurturing
Build A Sales Machine | Mar 02, 2010 | Permalink
(Want expert help - based off of salesforce.com's $1 billion best practices - in building your B2B Sales Machine? See Build Your Sales Machine)I'm a big fan of Marketo, mostly because of the people there like Jon Miller, Kelly Abner and now Maria Pergolino. Marketo's application and the team's knowledge and practical experience around demand generation and lead nurturing is A+!So when they shared their new "Definitive Guide to Lead Nurturing" with me, I knew it'd be something worth sharing with you, dear readers :) Below is an excerpt from their post about it, and get the full post and guide here.And now...Marketo's Definitive Guide To Lead NurturingInformative and practical, The Definitive Guide to Lead Nurturing offers useful, qualitative insight from today’s marketing thought le...
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- Jumpstart Your Lead Nurturing Campaigns
Sales X Marketing | Nov 02, 2009 | Permalink
The tools are available, and the companies who are using them are reaping the benefits of more qualified leads in their pipeline. But many of the folks I talk with every day, are not sure how to get started or...
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- Get Hitched; Not Ditched! Improve Your Marketing Effectiveness.
Sales X Marketing | Aug 12, 2009 | Permalink
My company, Genoo, released a new series today, called "Get Hitched; Not Ditched". These are practical guides that walk you through actual steps you can take to improve your online marketing effectiveness -- from demand generation through lead nurturing. Subjects...
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- Marketing Automation Can Help Sales Build Relationships
Sales X Marketing | Jul 24, 2009 | Permalink
I ran across a post at TSL Marketing's blog, entitled "Lead Nurturing in 5 easy Steps" that outlines 5 things that Sales folks can do to nurture their leads -- those that aren't ready for the sales conversation quite yet....
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- Affordable Transaction Economics
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Lead Generation Topics
, for example. Lately, I've been dealing a lot with pipeline marketing strategy, and I stumbled upon something that is probably fairly obvious, but I thought I'd outline it formally. <br/>
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My friend and mentor Tim Furey wrote a book in 1999 called <a href='http://www.amazon.com/Channel-Advantage-Lawrence-Friedman/dp/0750640987/ref%3Dsr_1_1?ie=UTF8&s=books&qid=1263223808&sr=8-1'>The Channel Advantage.</a> It was a great book, and its simple premise was "match the transaction to the channel that can afford to handle it." There were other key ideas, but this was the one that stuck. In other words, rebuy channels go through e- and tele-channels, big new servers through face-to-face. The reason, simply, is that it costs $10 to take an inbound phone order, and $250 (at least) to drive out to someone's office.<br/>
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I wanted to take this concept and apply it to a more dynamic problem, the pipeline, specifically nurturing leads. When you think of a lead, it has a "born on date" and then you continue to do "stuff" to it that costs money. Every time you do "stuff" the acquisition cost has increased. So, a key metric for lead nurturing has to be "cumulative marketing dollars spent." That's the basis for affordable transaction economics (ATE) applied to lead nurturing.<br/>
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In other words, affordable transaction economics (ATE) is simply a way to optimize pipeline marketing activity at every stage of the relationship. The one premise is “don’t spend more cumulatively on a lead than we forecast the lead to contribute to our operating profit.� ATE depends heavily on a lead scoring model, ideally one that can forecast the total value that will result in a lead. Say at day 1, my forecasted lead value is $10. That means that I should have spent no more than $10 on acquiring and nurturing that lead. But, on day 2, we get a lot more information from that lead, and the forecasted lead value goes up to $200. Now, I can afford a telephone call and more. This continues on and on. A case example of how ATE can be used to guide spending on lead nurturing is outlined in the table below.<br/>
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<div class='separator' style='clear: both; text-align: center;'><a href='http://2.bp.blogspot.com/_30veOO2AATQ/S0tGDrOiCYI/AAAAAAAAAHY/P9Khdf83-aw/s1600-h/AffTransEcon.PNG' style='clear: left; float: left; margin-bottom: 1em; margin-right: 1em;'><img src='http://2.bp.blogspot.com/_30veOO2AATQ/S0tGDrOiCYI/AAAAAAAAAHY/P9Khdf83-aw/s400/AffTransEcon.PNG' border='0' height='222' width='400'/></a><br/>
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The constraint of spending no more cumulatively than the forecasted operating profit is an outer limit, by the way. There should be some percentage of revenue that marketing targets for acquisition cost—say, 10%. This target will usually be lower than operating margin.<br/>
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What does this mean operationally? For marketers who own the upstream end of the pipeline, it means creating two new metrics, cumulative spend per lead (CSPL) and forecasted affordability per lead (FAPL). When CSPL > FAPL, this metric should turn red. These KPIs are nice because they can flow from the individual lead level all the way up to a line of business. To do this, we need to think about what affordability is (how much <em>should</em> I spend per dollar on acquisition?) and we need a good lead scoring model that look at eventual lead value.<br/>
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ATE can also be used very effectively as a planning framework for designing lead nurturing campaigns. Essentially, the marketer can now plan the mix for a $1 lead, a $10 lead, a $100 lead, and a $1000 lead. This simplifies thinking considerably around what can be very hairy process flows.<div class='blogger-post-footer'><img src='https://blogger.googleusercontent.com/tracker/36395142-3672936516842776126?l=b2bmarketingconfidential.blogspot.com' height='1' alt='' width='1'/></div>
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