Reduce wastage, improve ROI and increase volumes of sales ready opportunities.
Digital content syndication strategies to fill pipelines with opportunities is still one of the most popular marketing mechanisms to fuel revenue engines.
But despite the ever-increasing sophistication of content for engagement with prospects, the conversion from Marketing Qualified Leads (MQL) to Sales Ready Leads (SRL) on average is still low across the industry.
Most industry watchers agree that average B2B conversion rates from MQL to SRL is around 0.4% from traditional digital content syndication campaigns. In reality, the rate is sometimes quite lower.
So, a campaign that generates 1000 digital leads, using the industry average only four leads are expected to be sales ready. This often means that inside, direct and channel sales teams are wasting precious time trying to engage with prospects that may be interested and have a need but are still in the research rather than purchasing phase.
In other scenarios, the sheer volume of opportunities that need to be processed by Business Development Representative (BDR) and sales teams combined with time pressure to generated closed won business, often means that opportunities are junked and considered closed lost as sales teams do not have the time or resources to follow up on opportunities that need more nurturing.
Where nurturing is attempted, it is frequently impersonal and thus ineffective in driving opportunities further down the funnel and closed lost. The irony is often that the opportunity that was deemed closed lost is sometimes repurchased in the next round of lead generation activity from another agency. This wastage fuels the clamour from some companies for ‘unobtainium’ or net new leads that if nurtured properly would not need to be junked in the first place.
Lack of training for incoming BDRs combined with the time needed to get them up to speed is another cause of low conversion at companies, as inexperienced or poorly trained BDRs are unable to efficiently qualify opportunities.
While poor lead routing between multiple lead generation agencies frequently means that vital information is lost due to incompatible delivery systems and various flavours of verification platforms between different agencies. And increasingly complex Artificial Intelligence and Machine Learning infused cybersecurity products can sometimes block legitimate emails as spam or provide false click through information by testing links that are within emails.
Lastly, but not inexhaustibly, poor communication or misalignment between marketing and sales team often leads to friction and disconnects between what is being bought by marketing and the insatiable needs for sales, that have not had expectations managed, about where the opportunities they are speaking to are in the sales funnel.
Even when companies purchase supposedly BANT qualified leads, which were a concept of IBM’s sales teams in the 1950s, conversion rates are often not what companies hope for because of the same pressures that are placed on some more expedient suppliers that may be forced to cut a few corners when passing back the required volume of BANT leads agreed in the RFP.
Following on from the acquisition of BNZSA by Anteriad, current and future clients will be offered a solution called Enhanced Digital Content Syndication (EDCS) that combines the data accuracy and triple checked digital content syndication from Anteriad with the human verification, classification, and qualification from BNZSA’s Lead Verifyr service that uses data, digital and phone verification from agents that speak 26 native languages.
By reengaging with the opportunities, agents can reconfirm consent and gain insights into where the prospect might be in the sales funnel and can classify those accordingly. While some may be still at the MQL stage, those that might have received more content or information about a product or service are internally classified and put into nurturing tracks to move them further down the funnel. When these opportunities are deemed sales ready, they are invited to a Warm HandoverTM (WHO) call, which is a three-way call between the prospect, a BNZSA agent and the client.
With buying cycles increasing and the purchasing decision taking longer, BNZSA has for long time realised the value of using highly training people with intensive and industrial coaching processes for its BDRs or “Rockers” as they are internally called. Before a phone is picked up Rockers go through an intense one-month training programme with internal sales coaches and external IT consultants. In addition, BNZSA’s clients are invited to lunch and learn sessions for its BDRs to get better acquainted with their products and solutions.
Because, the digital leads have gone through a further reengagement and verification process, BNZSA is offering customers that engage with the EDCS service between 30 and 50 SRL/Warm Handovers in a quarter and are more likely to close than traditional BANT leads. As Anteriad and BNZSA have done all the heavy lifting in terms of qualifying the SRLs, client sales teams can focus on those that are likely to close. Those that are still MQLs can be sent over as well for nurturing by the client or can be put into nurturing tracks by BNZSA to set up a WHOTM when the prospect is qualified as sales ready.
Based on customer feedback, the EDCS service is priced as a traditional cost-per-lead (CPL) for a minimum quarter engagement hat blends data, digital and human verified services that helps you get in front of more of your potential customers.
BNZSA internal data has shown an uplift of 300% in conversions of WHOs compared with traditional BANT.