Modern B2B Marketing

This blog is where we share Marketo's latest thinking about B2B marketing, from best practices in demand generation and lead nurturing to accountability and marketing & sales alignment.




Archives


Modern B2B Marketing

« 7. Lead nurturing 101 | Modern B2B Marketing Blog | 9. Stop being a cost center »

December 18, 2006

8. Measure relationship depth

As part of the lead management process, make sure to measure the "depth" of your relationship with a target company. By depth, I mean both the number of contact names you have at the company as well as the quality of the interactions you've had.

If you've had meaningful marketing interactions with six different people from a company, then that company is more likely to be sales ready than a company where you've only interacted with one person. Similarly, a prospect who has downloaded two whitepapers, attended one of your in-person events, subscribes to your podcast, and has recently spoken with a telemarketing rep is more likely to be sales ready than a prospect who only downloaded one whitepaper.

One way to measure relationship depth (based on ideas from Kathy Rizzo at TeleNet Marketing Solutions) is to assign a point score to each type of interaction. For example, a conversation could be worth 5 points, attending a webinar worth 4, downloading a podcast worth 3, receiving a high-touch direct mail worth 2, and downloading a whitepaper or receiving an opt-in email worth 1. Next, add the points across all contacts at a company to get a total company score. By knowing the average number of points before a lead becomes sales ready, you can begin to evaluate how far along you are with lead nurturing. (More sophisticated versions of this approach assign higher weights to activities that imply the prospect is further down marketing funnel, as well as to interactions with prospects who are key decision makers.)

One last advantage of measuring relationship depth is that it can tell you when you've reached the point of diminishing returns for each prospect. For example, if your analytics show that most customers are sales ready at 20 points, then a prospect at 50 points who is not yet sales ready may be a good candidate to move to lower cost interactions if possible.

Add to del.icio.us Submit to Reddit StumbleUpon SphinnIt Submit to Marktd Submit to BeeTooBee Add to BIZZBites

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451b45369e200d8342e882e53ef

Listed below are links to weblogs that reference 8. Measure relationship depth:

» 8. Measure relationship depth from Marketing & Strategy Innovation Blog
by: Jon MillerAs part of the lead management process, make sure to measure the depth of your relationship with a target company. By depth, I mean both the number of contact names you have at the company as well as... [Read More]

» Relationship Depth and Revenue Generation from Marketing Interactions
In a B2B complex sale, the depth of the relationship you build with a lead will, in a large part determine your sales team's ability to close the deal. There's a lot being said about the need for Marketing to reinvent itself and take a leadership role ... [Read More]


Comments



The comments to this entry are closed.