Five is the magic number for Palo Alto, Calif.-based HP Software, says Rod Lehman, the company's senior director of Americas marketing. That's how many touches consumers may require before converting, he told an intimate group of DMA2010 attendees during his session, "Effective Lead Nurturing: The Key to Doubling Conversion Rates."
Most B-to-B marketers are now bought in to the concept of lead scoring. Using a combination of activity and known data to identify who is ready to speak with sales, and who is not, has become an accepted concept for most marketers who are focused on enabling their sales team.
No leads are more valuable than the ones you already have in your database. In its white paper, Action Guide to Lead Management Success, Indianapolis-based integrated, on-demand marketing automation software and database marketing services firm Right On Interactive offers steps to send higher-quality leads to the sales team, nurture leads that have the potential for future purchases and recycle inactive sales leads.
One thing's for sure: If there's a company with an appropriate tool to analyze project performance, it's Jaspersoft. And the most recent project the San Francisco-based open source business intelligence software provider chose to track was its own effort to increase its lead conversions.
"Why can't I get more qualified leads?" the sales manager pleads. "You give us inquiries, but we don't know what they want, when they want it or if they are budgeted. It would help to know if they are qualified to buy." He continues, "You send them a package of literature, and marketing doesn't reach out to them again. How about giving us more qualified leads and skip the raw inquiries?"
If direct marketers want to weather the current economic downturn, they need to create multiple, relevant lead-nurturing campaigns. According to a November 2008 report from Aberdeen Group, only 16 percent of the total leads deemed as “sales opportunities” close, leaving marketers to handle the remaining 84 percent of qualified leads; the difference between a best-in-class company and an average company is how those leads are nurtured.
At last month’s DM Days New York Conference & Expo, Patrick Strother, CEO and chief creative officer at Strother Communications Group in Minneapolis, spoke on the topic of direct marketing’s effect on brand. In his presentation, he explained that branding is about building relationships and that you’re not managing your brand if you’re not nurturing it. Here are four ways to do just that.
For marketers struggling to keep the prospecting process organized, a marketing automation system can help eliminate the time-consuming need to coordinate lead management manually—an outdated approach that usually results in missed opportunities. By integrating an automation system from San Mateo, Calif.-based marketing automation solutions firm Marketo with contact management/CRM tool Salesforce.com, Eleanor Bowman, director of marketing communication at Austin, Texas-based, educational services provider CompassLearning, was able to increase efficiency and return for her company’s lead generation and lead nurturing activities. Target Marketing: What were your goals in automating your lead management process? Eleanor Bowman: We really wanted to develop a pipeline for our sales
With the right tools and strategy, e-newsletters can help convert leads and boost sales Recent months have seen a historic boom in online marketing expenditures. Forrester Research categorizes it as a “resurgence” and predicts that overall online marketing spending will top $26 million by 2010. With all the emphasis on banners, sponsorships and search engine marketing—all lead generation tactics—direct marketers need to be sure not to neglect lead nurturing activities, or they will risk low conversion rates and poor ROI. E-newsletter marketing is an ideal tactic to nurture leads and convert them to sales. It is relatively easy to implement and can build relationships,