Scenario - bxp and Lead Generation and Pipeline Management

1 Overivew

There are many sales tools available on the market. What works what doesn't. The key aspects is having a good plan and understanding the primary tools and metrics available, so that you can apply them sensibly to your business.

Firstly it is reputed that Peter Drucker stated "what gets measured gets managed." So metrics and measurement is the most important part.

2 Metrics

There are different suites of metrics which are used by different businesses for various scenarios

http://2012books.lardbucket.org/books/marketing-principles-v2.0/s16-03-sales-metrics-measures.html

• B - Budget
• A - Authority
• N - Need
• T - Time

http://www.business2community.com/sales-management/8-effective-lead-generation-measurements-01062118

1. Total Number of Inquiries
2. Leads Per Channel
3. Spend Per Channel
4. Number of Marketing Qualified Leads (MQL)
5. Ratio of Inquiry to MQL
6. Cost Per MQL
7. Ratio of MQL to SAL (Sales Accepted Leads)
8. Total Number of Sales Qualified Leads

http://adage.com/article/btob/2013-lead-generation-optimum-techniques-managing-lead-gen-campaigns/290384/

• ROI,
• closing rates
• cost-per-lead

https://www.salesforce.com/blog/2013/05/7-key-performance-metrics-that-every-sales-manager-should-care-about.html

• Lead Response Time
• Rate of Contact
• Rate of Follow Up Contact
• Clicks from Sales Follow-Up Emails
• Social Media Usage
• Usage Rate of Marketing Collateral
• Opportunity-to-Win Ratio

http://www.insightsquared.com/2014/03/the-5-key-sales-metrics-sales-vps-must-use-to-analyze-performance-and-results/

• Open Opportunities in Total and per Rep (by # count, not by $ volume)
• Closed Opportunities in Total and per Rep (by # count, not by $ volume)
• Deal size
• Win Rate
• Sales Cycle
• $ Sales = (Total # Closed Opps) x (% Win Rate) x ($ Average Deal Size)

http://www.ringdna.com/blog/15-essential-marketing-sales-metrics-salesforce

• Overall Lead volume What is overall lead velocity?
• Lead volume by Channel Which channels are producing the most Leads?
• Lead volume by Campaign Which campaigns are producing the most Leads?
• Lead to Contact conversion ratio How many Leads are sales-qualified?
• Opportunities by Channel Which channels are creating the most opportunities?
• Opportunities by Campaign Which campaigns are creating the most opportunities?
• Closed won Opportunities by Channel Which channels are creating the most sales and revenue?
• Closed won Opportunities by Campaign Which campaigns are creating the most sales and revenue?

• Number of open Leads Is your sales team attending to all incoming Leads? If not, how many are being missed?
• Lead response time Is your sales team responding to Leads within five minutes, or at least one hour? How are they responding – by phone, email or other communication channel?
• Call Ratings Which inbound marketing channels are driving the best calls?
• Deal competitors – total Opportunities Which competitors is your sales team coming up against again and again?
• Deal competitors – closed/won Opportunities Which competitors are you consistently winning deals against?
• Deal competitors – closed/lost Opportunities Which competitors are you consistently losing to?

Other useful reference links

• http://blog.hubspot.com/blog/tabid/6307/bid/33659/12-Critical-Marketing-and-Sales-Metrics-You-BETTER-Be-Tracking.aspx
• http://www.forbes.com/sites/chuckcohn/2014/12/15/5-metrics-to-apply-to-sales-and-marketing/
• https://en.wikipedia.org/wiki/Sales_effectiveness
• http://www.vantagepointperformance.com/wp-content/uploads/2011/09/Using-Metrics-to-Drive-Sales-Execution-Exec-Summ-and-Full-Report.pdf
• http://www.inc.com/partners/comcast/making-pipeline-management-an-end-to-end-process.html
• http://www.slideshare.net/martinwalsh/marketing-automation-lead-management-and-nurturing-overview-martin-walsh
• http://www.slideshare.net/shawndesouza/effective-lead-generation-through-lead-lifecycle-management

3 Deciding

Once you are comfortable with the metrics that you want to track for your business then we build them in bxp. Unlike other systems bxp can be completely tailored to your requirements as you add in what you need rather than being told what your business must conform to.

bxp also provides tools to seamlessly migrate leads to customers and integrates all supporting documentation and quality measurement tools.

The first step is to build your form.

4 Form Building

4.1 The basic details

Within the form there are a number of design decisions to make. Are you going to target people or companies? If people, then we add the usual contact type fields.

• Title
• Firstname
• Initial
• Surname
• Email
• Work Phone
• Mobile

You can literally go to town with whatever fields you would like to add. Skype, LinkedIn, Facebook, Home Phone, Golf Handicap, Number of Children, etc. Simply add the fields you want.

If you want to be focused on companies, bxp allows you have a linked structure. So a company form and a people form and the people are linked to the companies.

4.2 Metric building

Next step is to build in the fields or the mechanics for which metrics you want. The simplest B.A.N.T. is a set of four drop down lists.

• Budget (Yes / No)
• Authority (Yes / No)
• Need (Yes / No)
• Timeline (Drop down list appropriate to your business)

4.3 Marketing feedback

It is possible to add fields to capture marketing information such as:

• Source of lead / Channel
• Opt in / Opt out of marketing information

4.4 Process building

The outcomes of the form allow the records to be manage as Work Flow Management (WFM). Essentially each outcome classifies where a lead is at the moment. Lets use the simple Sales Cycle of "Leads, Suspects, Prospects, Customer"

• 01 - New Lead
• 02 - Suspect - Not Interested
• 02 - Suspect - Call back later
• 02 - Suspect - Customer to call back
• 03 - Prospect - Became not interested
• 03 - Prospect - Proposal sent
• 04 - Customer - Customer signed up

Using these simple example of outcomes it can be seen how easy metrics will be able to be captured.

You can add as many / few outcomes as you desire to describe how your sales pipeline processes work.

5 Reporting

Now that we have a form we need to get records into it and start developing appropriate reporting from it.

5.1 Dashboards

The simplest approach is to decide what are the key features / metrics you want on your dashboard and how you want them presented.

bxp has a module called KeyStats Module_-_KeyStats which allows completely custom dashboards to be designed.

Here are some of the elements you can choose to use:

5.2 Standard reporting

There are numerous reports instantly available through bxp. File:CC-1-4 - Introduction to Contact Centre Reporting v1-2.pdf

6 Marketing

bxp can be used to run marketing campaigns. Clickthrus can provide feedback on which users where are actually viewing your messages. Communications_-_Email_Clickthru