Advanced Lead Conversion™ for smarter lead nurturing!
What is Advanced Lead Conversion? It's a set of research and analytic tools that help you make any marketing automation or lead nurturing
program smarter and more effective (increased sales conversions!).
Smart marketers know that multiple touches with the right message are the way to increase sales conversions. However we also know that
the average customer is a myth... there is no universal set of messages that speak to everyone. Even with segmentation, your message is
still fairly general and therefore, at best, receiving a neutral response.
Advanced Lead Conversion uses powerful statistical modeling to learn about how your leads and prospects think and feel about your products
and services. It starts by identifying the "hot buttons" that are prevalent in your target audience and placing the prospects into groups
of like-minded people. This helps you deliver the right message at the right time, greatly increasing your chance for sales conversion. Once
you've identified the messaging, Advanced Lead Conversion goes on to show you how to identify which cluster a new prospect or lead belongs to.
And later it shows you which combinations of activities are truly predictive of a sale, resulting in a lead scoring algorithm that is based on
knowledge (instead of hunches or feedback from the sales representatives). Regardless of which marketing automation platform you are running,
the intelligence results in a system that gets smarter over time, increasing the effectiveness of your marketing campaigns and overall sales
conversion.
An overview of a system that contains a lead management solution (2), lead nurturing (3), advanced lead conversion (4a – c) and CRM integration, showing how they all work together to optimize lead management.
The Advanced Lead Conversion product suite consists of three distinct tools that can be run independently or together:
Phase 1 - CharacterIze™expand/collapse
CharacterIze is a smarter way to segment your leads to place them on the correct lead nurturing track.
It discovers how people feel about key messages describing your product or service. It also finds common groups that share these same
feelings. How does it work? We talk to thousands of people (via online survey) about your product or service. We ask them to rate how
they feel about product statements, but these statements contain multiple characteristics about your product including brand positioning,
product features, product benefits, and competitive claims. They can't look at individual product attributes, because the statements
group several attributes together. Interestingly, this is the same process your brain actually goes through when making product selections
in a physical store. By looking at 80-100 of these grouped statements, we can begin to draw a picture about which things people like and
which things they don't like about your product. And they cannot "game" the system like they can in a straight survey! Here is a simple
example in the laundry detergent market:
The end result is a statistically derived set of rated product messages and groups (or "clusters") defined by their common response to
these messages. In other words, we find groups of like-minded clusters that respond well to the same messaging. An example of the
messaging (again for laundry detergent) and the clusters response to the different messaging follows:
Overall; your entire population would respond best to the phase "your clothes with smell great".
However, you can get an equal lift by telling the "frugal cluster" that your detergent can do 3 loads for
the price of 1. Just don't tell them it's made with organic lye!
But if you tell your "green cluster" it's made with organic lye you'll get a bigger response lift... and a negative
response if you tell them it does 3 loads for the price of 1.
The statements that resonate for each cluster can be turned into emails and brochures that can be included in your marketing
automation software. We can create these pieces for you or work with your ad agency or internal creative group. Sound complex?
The methodology has been tested and proven to work. Within 4 – 6 weeks, a CharacterIze study can be completed and included in
your marketing efforts, increasing your response and conversion rates.
Phase 2 - RecognIze™expand/collapse
RecognIze takes what you learned about segmentation and helps put new leads on the correct lead nurturing track
Now that you know the segments that exist within your target market, how do you quickly recognize which segment new leads and your
existing contacts belong to? RecognIze analyzes CharacterIze data to identify common characteristics within a cluster. These
can include demographic, firmagraphic and attitudinal characteristics. A few brief questions can be used to help identify attitudinal
attributes. These questions can be added to your webforms and already existing demographic or firmagraphic variables within your
marketing database can be reviewed to place people in their appropriate cluster. The goal is to put existing marketing database records
and new leads into the appropriate cluster so you can nurture them with content that is relevant.
Examples of "marking" questions –
- Are you interested in receiving promotional offers via email?
- Do you own or rent your home?
- Select from the list below the role that best fits your job description:
- Please select your age range from the options listed below:
Phase 3 - CapitalIze™expand/collapse
CapitalIze creates lead scores based on fact, increasing sales' confidence with your lead management solution
This is a process that utilizes advanced modeling techniques to know, for each lead or prospect, how likely they are to buy
at a given point in time, and what set of activities is most likely to drive them to purchase. Taking all variables you currently
store for prospects, leads and customers (in your marketing database) and all their historical transactional data, we can model
the "perfect lead" and score all incoming leads against that standard. By way of contrast, other systems suggest you talk with
sales or try, test, and try again to eventually get to a lead score. Why guess when you can know if a lead is really ready to buy?
Unlike CHAID or other types of predictive modeling, CapitalIze uncovers complex relationships among data sets. Randomization is used to
generate infinite possible combinations of predictor variables. It is a self-refining model that runs up to one million times to arrive at
the optimal scoring and lead nurturing models, determining the most important variables to consider when scoring a lead.
The more data you have the better! The output of CapitalIze is a set of scoring and lead nurturing algorithms that get applied to future
leads. When CapitalIze says a lead is hot you'll know that the lead really is ready to buy! And you will know what content and activities to put
in front of a lead to move them more quickly and confidently toward a sale. It is a proven methodology that increases sales rates and increases
the efficiency of your sales and channel partner organizations.
