Thanks to Kevin Joyce at Market2Lead for his post earlier this week.  In addition to learning about Market2Lead, we want to share with our readers one of their whitepapers, Increase Lead-to-Sales Ratios with Effective Lead Qualification and Scoring.  In it Market2Lead’s CEO Geoff Rego walks through some key pieces to developing a robust Lead Scoring process.  Some of the highlights:

1. Define ‘Qualified’ – this is something we’ve spoken about before on the B2B Lead (check out Amy’s post, What is a Lead? What is a Prospect?), it’s key to make sure your entire team is on the same page when it comes to what a qualified lead is, what a prospect is, etc.
2. Qualify your leads in stages – don’t assume that you can qualify all of your leads at once or one time, you should continuously be in the process of qualifying what is in your database as well as what is coming into your database.  By the same token, make sure you’re also disqualifying things continuously too!  (We’ve chatted about ways to disqualify)
3. Get help!  If you can’t do this alone (which is pretty likely), use technology.  There are numerous tools out there, both within Marketing Automation Systems and things you can build yourself within Sales Force Automation tools that can score your leads for you.  It’s reasonable to assume you can qualify a few hundred (or even a few thousand) leads with good eyes and some manpower, it’s a bit overwhelming to assume you can qualify tens of thousands (or more) leads by yourself.  Don’t let this task overwhelm you, look for software that can help.
4. Do this now!  Don’t wait to implement lead scoring and qualification practices, it may not be perfect the first time around but getting the ball rolling is an important step.  The faster you start, the more ‘gems’ you might find in your own data.

Need more tips on Lead Scoring? Check out the Market2Lead white paper!

Our customers, prospects and B2B Lead followers often ask us about marketing automation.  Since ReachForce targeted role-based leads are fed into many of these solutions we decided to give each of them an opportunity to explain their key benefits and features in their own words. Thanks to Kevin Joyce (@nivenor1) at Market2Lead for this post.

What is Market2Lead?

Here is the story behind marketing automation, and Market2Lead:

Sales folks spend most of their time in proposal and negotiation stages. For the most part, they do not like cold-calling or prospecting. Also, a day of a sales person’s time can be quite expensive. To make sales folks more effective, we look for ways to give them only marketing-qualified, sales-ready leads. And if we do that by having marketing people do tele-prospecting on the phone, we would spend almost as much as using the sales folks. So we need automation to make it cost-effective. The further back you go in the sales cycle (left in the graphic below) the less expensive the touch has to be! The majority of CRMs simply don’t have the depth of functionality to take on this marketing role of nurturing. So we look for marketing automation to help us nurture and develop relationships with prospects, gathering more information about their needs and offering them relevant educational materials that support the value proposition. Then, at the right time, we hand the prospects off to Sales. Market2Lead excels at doing this.

Market2Lead offers marketing automation software and services that provide the automation and analytical insight to move more prospect relationships into customer relationships. The Market2Lead software assures that marketing programs are more effective in producing sales-ready leads, and that marketing investments have a measurably better ROI.

A marketing automation system must provide these benefits to be of value to Marketing:

• Increased Marketing effectiveness
• Deliver more sales ready-leads to sales teams
• Nurture prospects so they move through the funnel faster
• Measure the marketing influence on opportunities in the funnel
• Provide marketing accountability and ROI
• Ensure that Marketing only adds validated, standardized data into the CRM

The success of any marketing campaign is dependent first and foremost on the target list, then the quality of the offer and finally on the presentation of the offer. This is why at Market2Lead, we have a strong focus on helping organizations execute campaigns that are measurable, leverage cleaner, richer data and produce predictably great results. The goals for marketing organizations everywhere are to produce more sales-ready leads and to contribute in a measurable way to increasing revenues and profitability of their firms. This requires greater marketing effectiveness and accountability.

A New Level of Marketing Measurability
Marketing automation not only brings efficiencies through automation and effectiveness through better execution, it also brings to marketing a new level of measurability. Market2Lead brings the unprecedented ability to define business rules to connect marketing campaigns and programs to sales opportunities, so the precise impact of marketing on the business results can be measured. With the costs entered into the campaign definition, we can even show you your ROI and cost per lead. Market2Lead has full marketing data warehouse capability, in addition to operational reporting, so that custom dashboards can save you the time you’d otherwise spend to aggregate and present data.

Capture More Leads
Market2Lead’s sophisticated response management captures more leads in less time. Our web forms can be configured and deployed by marketing managers (rather than involving IT staff), and are dynamic, allowing you to do progressive profiling of prospects. Our forms also have field validation and standardization, so you can ensure a richer and cleaner marketing database. And since only a fraction of the marketing leads come through a company’s website, we offer sophisticated contact data integration capabilities to enable pooling of all offline and online data. These include a web services API, scheduled FTP imports, and an elegant import wizard that helps ensure the data integrity and completeness of your database.

Nurture Smarter
The best nurture campaigns take into account the entire behavioral history of each person and go about presenting the best possible next offer that is appropriate for that person. The Market2Lead system has the unique ability to automate arbitration of the most relevant offer for each individual.

The 5 Core Areas of Functionality in Marketing Automation
There are five areas of functionality that are essential in any good marketing automation system. All five are listed below, along with information on how Market2Lead excels at them all.

Contact Data Integration
CDI centralizes all of your online and offline marketing data in one database. Market2Lead provides:

• Dynamic integration with the SFA system
• Scheduled FTP and API for data integration

Response Management
The capture of validated, standardized data is key to effective campaigns. Market2Lead provides:

• Dynamic forms with progressive profiling
• Data format validation and address validation
• Personalized microsites and PURLs

Lead Management
New leads and responses must be scored, sent to the appropriate queues and in some cases routed to the appropriate channel. Market2Lead provides:

• Sophisticated scoring based on all prospect behavior, association with opportunities or accounts, and demographic data
• Notifications that can be initiated to Sales, Marketing, and others based on new responses
• Support of multiple queues, including SFA, tele-qualification, partners and reseller queues

Campaign Automation
Market2lead provides campaign automation that measurably increases the productivity of marketing:

• System-arbitrated adaptive campaigns that determine the best next offer for each individual
• Ability to copy all assets and deep copy of programs that include all program attributes
• Sophisticated list segmentation that includes: opportunity, account data, and time-based selection

Marketing Business Intelligence
Market2lead provides a business intelligence platform that includes:

• A historical data warehouse with custom reporting and dashboards
• Reporting on Marketing’s influence on the sales pipeline
• Web analytics and tracking of unknown visitors

Why Market2Lead?
What makes Market2Lead the best solution for so many firms?

• The strongest response management capability
• The best data integration capabilities
• A strong focus on data quality and metrics
• The best marketing business intelligence capabilities in the industry
• The most powerful automated campaigns
• Ability to support the needs of large corporations in many countries

It’s Show Time!

Welcome back from summer vacation!  The economy seems to be picking up, it’s event season and B2B marketers are being tasked with their biggest jobs yet – driving enough leads to make up for a slow first half of the year.  With the help of a marketing automation tool, your job gets a lot easier.  As marketing automation becomes more of a necessity to get the job done, B2B marketing teams are forced to evaluate their needs and choose a solution that best fits.

Over the last couple of weeks we have been highlighting our marketing automation partners and friends on The B2B Lead.  In addition to a post each of them contributed describing their solution, we also featured some their best practices.  If you haven’t visited us lately, here’s a snapshot of what you’ve missed:

What is Eloqua?
Power Marketing Automation with Targeted Leads
The Profile of the New Buyer – Digital Body Language

What is Genius.com?
Sales 2.0 for Dummies

What is Marketbright?
Tips to Improve Your Lead Management Strategy

What is Marketo?
Marketo’s Secret Sauce for Demand Generation

What is Manticore?
23 Questions Demand Generation Companies May Not Want You to Ask

What is Loopfuse?

What is Pardot?
Web Marketing Automation Buyer’s Guide

Remember your marketing automation system is a powerful engine but you need the right fuel to get the results you really want.   Be sure you are capturing the right roles at your events, cleaning up those PPC leads and identifying everyone in the decision making unit before you launch your next program.

Thanks again to our partners and friends for contributing!  We look forward to working with you again soon.

We all work long and hard on our email marketing.  Crafting the perfect attention getting subject line, choosing just the right images, editing and re-editing concise and relevant content.  After all that hard work, no one wants their email to get caught up in a SPAM filter or relegated to the Junk folder.  Many of our recipients are using Microsoft Outlook.  In case you haven’t checked it out before, here is what Micosoft says about the filter that pushes your email to the cyber graveyard known as the Junk folder.

The Junk Content filter works by looking for key words. This file is a description of exactly which words the filter looks for and where the filter looks for them:

First 8 characters of From are digits
Subject contains “advertisement”
Body contains “money back ”
Body contains “cards accepted”
Body contains “removal instructions”
Body contains “extra income”
Subject contains “!” AND Subject contains “$”
Subject contains “!” AND Subject contains “free”
Body contains “,000″ AND Body contains “!!” AND Body contains “$”
Body contains “Dear friend”
Body contains “for free?”
Body contains “for free!”
Body contains “Guarantee” AND (Body contains “satisfaction” OR Body contains “absolute”)
Body contains “more info ” AND Body contains “visit ” AND Body contains “$”
Body contains “SPECIAL PROMOTION”
Body contains “one-time mail”
Subject contains “$$”
Body contains ”
Body contains “order today”
Body contains “order now!”
Body contains “money-back guarantee”
Body contains “100% satisfied”
To contains “friend@”
To contains “public@”
To contains “success@”
From contains “sales@”
From contains “success.”
From contains “success@”
From contains “mail@”
From contains “@public”
From contains “@savvy”
From contains “profits@”
From contains “hello@”
Body contains ” mlm”
Body contains “@mlm”
Body contains “///////////////”
Body contains “check or money order”

Be sure to check out this list before you hit send on your next campaign.

It’s the topic of discussion for so many webinars, whitepapers and blog posts (even here), but do you actually do lead scoring?  Until very recently, we hadn’t figured out a way to incorporate all of the various technology tools (Eloqua for Marketing Automation, HubSpot for its unique Internet Marketing tracking/features and Salesforce.com for Sales Automation) we use into one comprehensive score.  So the question is, how do you close the loop with that many systems interacting?

To regress a little bit, we have always had lead scoring on the list of to-do’s.  It’s been on that list for easily the last three or four quarters, but each time it comes down to the wire either there’s not enough time or there is just so much for us to wrap together that it’s a little overwhelming.  Honestly, it wasn’t a high priority this quarter, but our Sales team was looking for a way to prioritize the accounts they were working so we initially (accidentally) built an explicit lead scoring system.   We set point values for things like:

• Having key players in the decision making unit in our CRM and/or knowing that they exist
• Knowing if the prospect markets to more than one vertical (and what space they play in)
• What Marketing Automation system the prospect uses
• What CRM the prospect uses
• ASP (Average Sales Price)

Eventually this all gets tabulated into a score (and the information collected in creating the score), that score determines a few things.  First, what kind of marketing messages the contacts within the account get and secondly, whether or not the rep even wants them followed up with.  That second item is determined by a score in the negative range…we’ve got some accounts that our reps don’t want to work with for specific reasons and those automatically get a -100 added to their score so we can better differentiate them from the rest of the crowd.

Originally this was good for us, we felt that it was a start towards the lead scoring we wanted to have and that it would give our sales team the info they needed to better prioritize their follow up.  Well it left something out…in focusing only on the accounts they were selling in to, we left out the leads they still need to follow up with in order to efficiently prospect for new business. So we went back to the drawing board.

Our next pass ended up being a more implicitly focused lead score.  With the help of one of our more development minded co-workers, we were able to employ an Apex Trigger in salesforce.com that checks for activity on the lead records and gives a score according to the frequency and creator of the activity.  To speak slightly more English (and less tech), if a lead has 3-5 activities from either HubSpot or Eloqua, meaning a form download, website activity or email open, created within a 3 month timeframe then they are ‘cold’ – if they have 3-5 activities within a 1 month timeframe then they are ‘warm’ and if they have 3-5 activities within a week they are ‘hot.’  Our basic idea being that within salesforce.com we set up views of cold-warm-hot leads and our reps can just follow up with those, instead of worrying about who is coming out of what nurture cycle behind the scenes.   So the sales team essentially gets a window on who is actually raising their hand and only those who do so often enough to be considered interest in us and our products.

By no means have we completed this process but we’re definitely off to a start. Closing the loop between our various tools one score at a time…do you score your leads, if so, how?

Do you constantly feel the pull for newer, better, more data?  Is there always that feeling that if you could just get a few new contacts a sale would be right around the corner?  Of course there is value to new leads data, but what about the data you already have?  Your internal database is likely an underutilized gold mine, but if it hasn’t been properly maintained it’s likely in need of a tune-up.

Did you know?

1. Up to 20% of all postal addresses change every year.¹
2. Up to 18% of all telephone numbers change every year.¹
3. Up to 21% of all CEO’s change every year.¹
4. 25-33% of email addresses on a “house” file will become outdated every year.²
5. In the next hour, 58 business addresses will change, 11 companies will change their names, and 41 new businesses will open¹ … not to mention how many companies will go out of business.
6. In addition, up to 66% of people change companies or job functions every year!³

Scared yet?  If you’re not, you should be, these statistics are enough to worry the most seasoned marketer.  What are you doing to keep your database from being impacted by these figures?   Here at ReachForce we run a series of data hygiene reports on our database regularly, they give us information on what data has been marked as bad, where it came from and how old it is.

Ok, so let’s say you already do something like this, you’ve got your dirty data bagged and tagged, what do you do now? Check out our Top 10 signs your database needs help, some of these top 10 can easily be identified in an error report, for those that you can’t identify, you really need to take a deeper dive into your data.  These things can’t be remedied overnight, but with some elbow grease and time you too can turn around the state of your database, after all, according to  Sirius Decisions, companies marketing to a database that is routed through a healthy data-cleansing routing can realize nearly 70% more revenue than an average organization, based purely on data quality.

For an idea of how dirty your data might be, check out the ReachForce Dirty Data Calculator, with a few simple numbers from you, it will give you some real-life idea as to how much of your data has ‘expired.’

SOURCES:
¹D&B
²Lyris Technologies: “Guru’s Guide to Email Marketing Success”
³Sales & Marketing Institute

As the person here at ReachForce ultimately responsible for having a regularly updated blog, I know how very difficult it can be to continually come up with new blog post ideas.  Lucky for me Kipp Bodnar has created a great list of 20 Ideas For B2B Blog Content To Drive Traffic and Boost SEO on the Social Media B2B blog. Here are some of my favorites:

• Profile your customers
• List the top ten twitter users in your industry
• List the top five blogs in your industry
• Start a contest and ask for submissions
• Use Trendrr to create graphs of industry information
• Compile the top ten blog posts on a specific industry topic

I can’t wait to start using some of these ideas myself.  Some things we do on The B2B Lead:

• Guest posts from partners and customers
• Quote great articles and blog posts and then expand on those ideas (hence this post)
• Write a cliff notes version of hit industry books
• Feature other companies who offer complimentary services or products to your own

Don’t forget to read the full list of 20 ideas!

As a follow-up to yesterday’s post, Are Your Leads Lying to You?, I want to dive a little further into David Taber’s article CRM Tips: When Leads Lie.  There are some truly interesting statistics in this article, but the meat of the article is his call to focus on the creation of opportunities as a key indicator/metric rather than the creation of leads.  Sitting at the cross-roads between Marketing and Sales I can echo his commentary that is a key indicator but I feel that it’s also a bit hasty to claim that it is the only meaningful metric.

Taber argues that by focusing on ‘sales-cycle starts’ (i.e. creation of opportunities) you get a true view of the over all process and communication between Sales and Marketing.   His position is that by using opportunity creation as the key metric you will encourage better alignment between Marketing and Sales.  While I think that he is on the right path, I feel like using only creation of opportunity as a metric fails to take into account the activity on all sides of the table that goes into feeding the creation of opportunities.

If one side fails to fulfill their end of the bargain, then you’ll end up with a lopsided equation and little to no opportunity creation.  For example, if Marketing is not held to the standard of feeding ‘X’ amount of leads and then drumming up activity via an email campaign, webinar, etc. then there is nothing for Sales to use to stir up the opportunities.  On the other side of the coin, if Marketing regularly adds leads, keeps the activity going and continues to feed the fires but Sales isn’t following up then opportunities won’t be created either.   Both pieces of the puzzle are necessary to create opportunities and by looking away from the metrics that measure each of these activities, spotting upcoming problems (or finding the root to existing ones) is difficult at best.

Taber argues that an opportunity centric focus will create the collaboration necessary to convert leads to opportunities, while I agree that if all the pieces are in place it can happen I guess I’m just a bit of a cynic (or a big metrics nerd).  I feel like it’s important to see the whole picture to ensure the process works all the way around.  Keeping everyone accountable to key metrics (lead input, campaign activity, meeting setting and execution) that are relevant to their role in the cycle will allow better visibility across the process and will ensure that if something breaks you can easily identify where the problem was and fix it.

Sitting down with my coffee this morning I stumbled across David Taber’s article CRM Tips: When Leads Lie,.  In it, Taber makes the case for really focusing on the right metrics in measuring performance, interesting stuff, but I got stuck on a particular statement he makes: “In many B2B and B2C businesses, the unqualified leads that are in the nurturing cycle may be numbered in the millions. Industry statistics show that up to 40 percent of leads may make their first purchase after having been in the “remarketing database” for 18 months or longer.”   As someone who works with our database and manages the cleansing of our customers database (via our Relevance & Repair Process), I was really struck by this.

On a day to day basis I look at lots of data (ok that’s an understatement, in the past two months I’ve looked at tons of contacts/prospects), most people who engage in our data appending and cleansing services do so to clean up old data – to find the diamond in the ruff. They are looking for that 40%, but what if they’ve had the right name and the wrong email for the last eighteen months?? And assuming they have been emailing this person for that time and they’ve had the wrong email, wow – that’s someone that they have lost some serious time with.

So how do you avoid falling into the abyss of not knowing if you’re marketing but no one’s listening?  Know who you’ve got good information for and who you need to get the right information for.  One more pitch for data cleanliness here but the idea is very simple, how will you ever reach that 40% if you don’t have their contact information right?

Our customers, prospects and B2B Lead followers often ask us about marketing automation.  Since ReachForce targeted role-based leads are fed into many of these solutions we decided to give each of them an opportunity to explain their key benefits and features in their own words. Thanks to Matthew Quinlan (@mattquinlan) at LoopFuse for this post.

What is LoopFuse?

Sophistication Made Simple

LoopFuse was founded on the principle that marketing automation should be powerful yet simple. In fact, it was the founders’ experience of implementing a marketing automation system at JBoss that led directly to the creation of LoopFuse OneView. Some marketing automation vendors achieve power and flexibility, but at the expense of usability. Others have a fantastic user interface, but a shallow feature-set. LoopFuse OneView strikes the delicate balance between sophistication and simplicity by hiding complexity with integrated contextual help, intuitive defaults, and wizard-driven configuration.

In addition to making LoopFuse OneView easy to implement and easy to use, we also make it easy to buy. Our complete pricing list is publicly available from our website so that our prospects know exactly how much LoopFuse will cost before engaging our sales team. (Refreshing, isn’t it?) Even better, there are absolutely no hidden fees. No setup fees. No support fees. No per-user fees. No API fees. You can even pay by credit card. Try LoopFuse OneView with zero risk by signing up for a fully functional free trial on our website. Your account is immediately provisioned without ever speaking to a LoopFuse salesperson.

Lead Management

Target, track, capture, score, segment, nurture, route, convert, close, and analyze your leads in a single tool that tightly integrates with your CRM. Start with anonymous web activity collection that provides the basis for web analytics such as most popular pages, best referrers, search terms, and most active companies (via IP address). Collect registration data and convert anonymous visitors into identified prospects. Continuously evaluate the quality of each prospect according to his/her profile and behavior and route qualified prospects to the CRM. Nurture unqualified prospects by providing a constant drip of highly relevant and timely information (via email) to engage the prospect until they are ready to buy. Arm the salesperson with all of the relevant information necessary to close the deal. Finally, analyze the effectiveness of each lead source to determine the best use of your marketing dollars.

Sales Enablement

LoopFuse will automatically create new leads/contacts/tasks in the CRM based on the LeadFlow you define. Existing leads/contacts in the CRM are continuously updated with information such as lead score updates, new registration form data, email campaign activity, and latest web activity. Within 1-2 clicks the salesperson has access to every piece of data ever collected about a prospect, including the prospect’s company & location (even if prospect left it blank), and all of the activity (anonymous included) associated with the prospect’s company. The prospect data is further enriched with one-click access to the prospect’s LinkedIn profile as well as data about the company from Hoovers, Jigsaw, ZoomInfo, and Google. By adding a prospect to their watchlist, a salesperson can be immediately notified when the prospect visits the website. Calling a prospect while they are browsing your site ensures that you have their full attention.

Performance & Scalability

While much of our early success was concentrated within open-source companies, LoopFuse continues to add customers from traditional software companies, SAAS providers, media companies, etc. One of the advantages of having so many open-source customers early on was that it required us to build a highly scalable infrastructure to manage the millions of transactions (page views, emails, registrations, etc.) per day that result from our customers offering free software. This continues to be a strategic advantage for LoopFuse as we can easily scale to accommodate customers of any size.

Why LoopFuse?

• Basic setup in less than 1 hour via configuration wizard
• Unlimited database size at no extra charge!
• Free trial to prove the value before you purchase
• Because it works