For one reason or another, a majority of the leads you acquire will be recycled. Don't let the money you've spent go to waste! Here's how to implement a sweet recycle nurture to make sure you're getting the most bang for your buck!
First - Find where the fall of is in your buyer journey!
To do this you'll need 3 essentials built out within your instance.
- Lifecycle Program: This is the backbone of a marketing automation platform. It will track a prospect’s progression from original visitation and creation into a system all the way through becoming an active customer. This program enables you to use lifecycle status changes as triggers for many other marketing automatons within your Marketo instance.
- Service Level Agreements: These are "time-frame contracts" you'll need between Marketing and Sales to ensure leads are being worked in a timely fashion. That way when they are recycled, you're catching them right away and have a higher chance at delivering something relevant to them to move them back into the sales cycle.
- Basic Reporting: You should be able to look at your database by Lifecycle Stage to see if you need to focus your nurture more on the MRL (marketing recycled lead) stage or the SRL (sales recycle lead stage). You should also have reporting that points out any leads outside of the SLAs you have in place, and you should have a recycle reason report that shows your recycled database based on why they were recycled. These 3 reports will help guide you on what type of nurture you should pick, what content will be in the nurture, and when to enter people into that recycled nurture.
Second - Pick your nurture type & build it out!
- There are different types of recycle nurture ranging from top of funnel (getting more information from leads that were recycled because of insufficient data) to bottom of funnel (winning back a churned customer). The lower in the funnel you get the more collaboration you need between sales and marketing to understand nuances around Closed Lost Reasons on Opportunities and how much time should lapse between the closed opportunity and the nurture beginning.
- Building out your nurture is fairly simple. Start at 12:42 of my Summit Session and watch until 20:12 to get every step of building out the nurture program. There are also some awesome extras you can implement, so I definitely suggest watching further!
Third - Make sure you report on the success of our nurture!
Remember the original reporting from a few paragraphs ago? Make sure you subscribe to those reports and ensure that what you have running in your nurture program is still addressing your top recycle reasons! Also be sure to run your nurture performance reports based on recycle reason and recycle stage. Answering the questions: How is it performing based on recycle reason and how is it performing for MRLs versus SRLs?
To get more detail on what you need to report on funnel fall out, build your nurture, and even sell this project to internal stakeholders, watch my Adobe Session:
Why Leads Great 'Til They Gotta Be Great? Resuscitate & Revive Dying Leads
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