Like many marketeers, we worked extremely hard on our campaigns: webinars, events, trade fairs, workshops, and so forth. This resulted in sufficient new names which we neatly passed on to our sales colleagues. As they are quite result-oriented, they asked for more and more leads.
We did not want to employ another staff member in a marketing position to provide even more push campaigns, so we decided to concentrate in particular on the quality of the leads going in the sales funnel. Lead scoring had to increase the turnover per lead by having the sales department focus especially on promising leads. Within this scope, we were one of the first in Belgium to start working with marketing automation software.
As part of the preparation, we conducted an analysis of the entire process with our sales colleagues to ensure that everybody agreed on the method and the definitions. A rather bothersome and complex exercise, but indispensable to get rid of weaknesses in your funnel. We noticed that some leads were neglected. What is the use of more and more leads if they are not monitored properly?
In the meantime, all leads have been registered and qualified in the marketing automation software. Each contact is monitored and gets a score with every new action, even in case of existing contacts. After all, we often focus too strongly on new names and lose track of upselling and cross-selling opportunities.
Still overly dependent on push marketing
After lead scoring the time was right for a next step. An analysis of our lead funnel showed us 1) that push marketing accounted for the majority of our leads; and 2) that our inbound leads completed the sales process twice as fast. We therefore decided to focus more strongly on inbound activities so as to increase the influx as well as the quality of the leads.
Potential buyers consult their network and other references to make or prepare purchasing decisions. So you also need to lead them to the purchase online. Customers increasingly inform themselves without contacting a supplier. If you only count on push marketing, you often arrive too late in the decision-making process.
Within the scope of our inbound approach, we mainly invest in four kinds of actions: several media channels, SEO, content creation and general branding. We thus want to increase the share of inbound leads to 50% in the long term.
This blogpost is a contribution by Tom Dubois, Worldwide Marketing Manager at VASCO Data Security