Once you have a high quality marketing database in place you are ready to launch powerful marketing (including email) campaigns. As you interact with your prospects and they respond to your campaigns, interact with your website downloading whitepapers and attending your webinars you start to build a relationship. Tracking this activity and using this information to build the relationship is done by RightWave software. A rules engine populated by mutually agreed upon rules “scores” leads and moves the contact from suspect to prospect to qualified sales lead.
Scoring and Nurturing Leads
Once RightWave has assembled your marketing database, it will score leads based on your specific business needs before routing them to your sales force automation software. Scoring rules that outline when a suspect actually becomes a prospect – or qualified lead are jointly established between the client and RightWave. Early stage leads that are not “ready” are first moved to the Nurturing bucket until they are ready to speak to a sales person. The nurturing activities are also jointly established between your marketing manager and your RightWave eMarketing expert. During nurturing they are kept engaged with a variety of marketing hooks – whitepapers, webinars, and customer success stories – and other frequent communications. The idea is to raise your company’s mindshare with the customer and build a valued relationship. As the suspect engages more deeply with your marketing hooks, they raise their “Score” eventually moving on to becoming true prospects, at which point they move into your sales database to be contacted by your sales team.
Multiple Scoring Vectors
Scoring is done using the RightWave scoring rules engine. The scoring engine is fed with rules that your RightWave team writes in consultation with you, to determine what actions on part of a suspect impact the scores. The scoring engine uses sophisticated progressive profiling techniques which are driven by the analytics input from various sources such as your website, your web marketing campaigns, and interaction at other offline events such as trade shows.
RightWave’s powerful scoring engine calculates and maintains scores based on a large number of factors: such as profile of the contact, profile of their company, RFM (recency, frequency, monetary) behavior, BANT (Budget, Authority, Need, and Timing) profile, their current or past activities and engagements with the various marketing campaigns and events targeting them, including not only the current and past activities of the contact, but also other folks in the same company. Usually multiple scores are calculated where some are based on profiles and some on historical engagement information. Finally, the various scores are combined to determine hot/warm/cold type of classification for lead distribution and follow up. RightWave team consultants will work with you to determine various scoring strategies based on your business requirements.
Measuring, Tracking, Analysis, Reporting
RightWave Marketing System measures and tracks all activities and changes in contact profiles. At any time, you can access reports to help you understand the composition of your lead database and what has been the progress since the last period. You now have the data to decide what works and what does not, understand ROI on your various marketing initiatives, and decide if you should change anything you are doing.