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FAQs online signature
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What is the difference between a prospect and a potential client?
A potential client who actively engages with your company is a hot prospect, a step closer to becoming a loyal customer. These interactions represent valuable opportunities for your sales team to convert interest into revenue.
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What is the difference between a potential client and a prospective client?
A potential customer is someone who could, in principle, become your customer. Most likely, he or she simply meets some set (predetermined) criteria. For example, if you sell cars, anyone with enough money is your potential customer. A prospective customer is different in that he or she can become your customer.
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Is a potential customer also called a prospect?
A company's potential customer is usually referred to as a prospect. It is a person who has the potential to be interested in the services and products that are offered by the company but has not yet purchased.
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What is a lead prospect opportunity customer?
Once you qualify a lead, they become a prospect and move to the next stage of the funnel. Once a prospect expresses interest in making a purchase, they become an opportunity and advance to the next stage. The next stage is closing a deal. At this stage, opportunities become customers.
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What is a potential client?
A potential client might be reasonably defined is all those individuals or companies that might possibly become a client at some point. One often considers potential clients when marketing or advertising, and these individuals are owed no protection with respect to conflicts of interest.
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What is a good lead to opportunity conversion rate?
The average B2B lead to opportunity conversion rate across different industries is 13%- 18%. Your first step should be focus on knowing your metrics. Specifically, your lead to opportunity conversion rate over a 12-month period. This helps determine if a low rate has been consistent or is recent.
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What is the difference between a prospect and a customer?
Customers and Prospects are almost identical except for these differences: Customer accounts are for businesses that have actually bought something from your business. Prospect accounts are for businesses that you might have created estimates for but they haven't yet bought anything.
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What is the difference between a lead prospect and a client?
So to summarize it all, a lead is typically an individual or a company that has the potential to become a customer/ a client. The goal is to turn those Leads into Prospects – Deals with associated Contacts and Accounts. From there the target is to win, turning those Prospects into Won Deals.
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[Music] so I'm gonna kick this one off and just kind of I guess give you a little bit of a background on on what we assess it was a marketing team and then working with our brilliant marketing Sciences team led by Greg in terms of measuring the impact of that and what that looks like practically in a day-to-day for us cool so before we kind of get underway just to give you a bit of background on sass and who we are don't want to assume that you know it but I'm sure all of you do it's it's not the Secret Service which is a bit disappointing what could be we would never tell but you know we we are an analytics business our vision is to transform a world of data into a world of intelligence so we're helping our customers and our clients realize value from their data so we were though there to be artificial intelligence for saving cheetahs or banking solutions there's there's a whole range of solutions for for our product but that by no means means that we as marketers are immune to the challenges that come with a lot of data so we do use their own tools but we're also the same as you guys trying to solve problems trying to try to work out what to do with all the information that is coming our way we were looking at some numbers and in 2025 there's a IDC report around that says I think people will have an interaction with online devices over something like for over 4,000 times in a day this data being generated through through online means so that's a lot of people a lot of data and that's something that our our customers and consumers whether whether we're CSR with one of your organizations need to factor in so jumping into the next slide yeah cool so I just wanted to check if spend a bit of time and I think we all know this intuitively but just around the complexity of reaching some of our customers and our and our audiences you know from a complexity standpoint everyone's super connected and digitally empowered and that goes across a range of a range of sources thinking about my journey this morning I'm like Google Maps I'm on everything trying to work out okay what am I going to do should I jump off here and catch the train should I jump off here and get over instead of a cab what about this bus line you know I'm like I'm thinking about a whole range of stuff and I've got the ability to to look at all those options at my fingertips and that's my expectation it's you know apps where we're dealing with that there's a complexity I think that we're all trying to try to handle as marketers and our consumers are really dealing with in their day-to-day as well just because we think it's simple for them doesn't necessarily make it a simple execution for them from a technology standpoint as marketers I've been in the digital marketing space for over 10 years now and even thinking back to the start of that journey we used a couple of tools to measure our campaigns we were aligned in Excel we had maybe a couple of analytics solutions and that that marketing technology space is just growing and growing and growing if we think about the context and then expectation again for our for our customers you know there is an expectation that they they will have experiences that are relevant to their context and I think as marketers we're trying to reach them at the right time or at the perfect time and I think trying to remember that just because we want them to see something at the perfect time for them that's not necessarily the perfect time for them I know again if I think about my own experience as a consumer my expectation is that whoever's messaging to me will know what I want and when I want it and I get frustrated if I'm being retargeted with ads for something that I've already bought and that diminishes my my experience so you know this you know I've really purchased the flight on Qantas but I'm still seeing flights to flights to New Zealand pop up I get frustrated by there and my expectation is they'll know but it's it's as perhaps an unrealistic expectation and again I think our customers you know if we talk about the evolution they want to be engaged with with respect you know not talk down hey hey this is what we think you need but really have that conversation you know and I think again if we all put ourselves in a customer's shoes and we are all customers at some level we're all engaging with advertising whether we want to or realize it or not and we're all have any experience with brands as a result of that and then that leads us on to accountability so again we need to as marketers be be consistently proving the value of our programs and our campaigns which i think is is a good thing but I think it comes with its own challenges right ss we do track track everything everything is tracked and that everything as and we get a lot of data which means we've got to do something with that data and Greg's going to talk about what we do with that which is which is very helpful and I think knowing knowing what's going on can be a strength and a weakness when you when you have the ability to see day to day or hour to hour what what the results of your campaign are it can be very easy they want to want to do something as a result of their and shift shift text because all this is not working but rather than taking into consideration a longer term a longer term view so I think there's a tension of wanting to be reactive and obviously you need to have that towards an overall overall bigger picture goal and and I think as well you know when you when you do get a lot of data and a lot of numbers and I know that we want to be a you know a German organization as well as you guys using that data I think we sometimes to forget that there are people on the end of that data who do want to have an experience with a brand that that talks to their pain points that recognizes hey you've got a solution that I that I need rather than you know just just hoping for the best I know that we do have the ability to track it you know track everything an incest not everyone has that has that luxury but I think you know if I can kind of offer any advice here just start somewhere and agree as an organization okay what's this next thing that I can measure what's the what's the next step for us and you'll start to start to get somewhere and work out the numbers that do make sense so I'm just kind of here and again you know that's from a customer standpoint these are the things that are influencing our customers our consumers and that's obviously a fairly complex armed beast and then if we look to their environment that says ourselves have so we have a fairly large and substantial marketing organization that that spans across the globe and that throws in another layer of complexity right because we're all we all have some view on how we should be talking to our customers and what we should be producing to help have that conversation so just to put that in context for us we have a global marketing team that provides direction and strategy and content messaging and in the tools that enable us to do our jobs we then have a regional organization so your CVS or asia-pacific amia us and color that that have a a regional take on on our marketing efforts and how that translates and then we have go to market teams and things are here today Danny and who then execute in-country so again when you start to layer in all those parts of our organization it does start to get again fairly complex so as a marketer and an AP region we're trying to work with with all of the above to execute upon our campaigns in a way that makes sense - alone local audiences and so what does that look like when we're executing again we obviously you know we're talking a lot about content at the moment we're talking a lot about the different channels that we use so we're using a range to to do a range of things again that complexity as marketers I think we're all all feeling those effects you know we we do use social media both paid and unpaid to get a message out there we look at events both the party both your own hosted events you know we still use heavily email to drive conversations for to nurture our prospects through a funnel obviously we have paid advertising in place and priorities and we also rely heavily on through the tech target product to drive new contacts and through all these channels you know these these mean we're having multiple conversations where whether that's to to acquire a new contact to trigger interest or or to generate leads we're doing having that messaging challenge and that communication challenge on all of those levels so we are working across a lot to try and surround who we know to be our prospects but we would like to be our prospects and then generating those leads and and progressing through sales so so we've got to feel a bit going on in terms of how we how we do do that and just sort of to wrap up wrap up this so again this is our response to some of those changes you know we've recognized that there are certain customer expectations and I think that that is that is ever-increasing and again I think if we all think of our own experiences I would say asses consumers have increasing level of expectation around around what we what we have delivered from that from the market our companies that are marketing to us you know we're looking at our journey we're looking at it not just being a one-time conversation but wherever you are on a journey whether you're just simply researching online whether you're actually at a decision point whether you're making that decision you're in the sales cycle or or you brought the product we still want to be having a conversation that makes sense to all of our customers at those points and again obviously we use we do use technology to help do that and we have a lot of automated systems in place which Britt will talk to he knows how they work workshop which I again we rely on heavily to do that you know I'll turn over to him to talk through some of these cases Suzy is a smart one in this duo but I'll try and do some justice to it I'm only have one slide so it's sort of only semi exciting to look at but I will kind of touch on this idea of journey marketing and using technology as well because they're kind of two primary drivers that my team look after primarily the first one looking at a customer journeys we know the journey Jon had a great slide is a little West back story and it made me think I should write a report that looks just like it see if I can do that by today which is why you have technology but we use a lot of technology at SAS and one of the thing that Suzy talked about automated lead scoring for scale the idea that you get a contact coming into your ecosystem from somewhere and knowing what to do with the mix based on their behavioral model it's kind of pretty tricky so we drive a kind of it's real cold modeling system we look at account scoring so we look at the overall behavior of an account if you look at something like priority engine you'll see it's an account scoring type methodology in there as well you see all the behavior of an account we likewise take all the behavior of the account from something like priority engine plus syndication plus our own digital journeys plus our SAS events plus our social media interactions we try and look at again the picture of what the entire account was doing at one time in terms of their research and looking at what phase they are on that journey when they interact with that content all their contents tagged by customer journey stage so we know if it's researched by or by kind of phase which part of the journey of Iran our sales cycle has eight steps so we know which part naps to each of those parts of the journey and then we can look at what the next best offer is going to be for a customer to receive from SAS based on their accounts overall behavior get past the camp behavior look at contact behavior so is a contact behavior in a certain way are they consuming a lot of content at one time is there a period of hyper activity I think John likes to call it hyper activity I thought I invented it but really you did periods of hyperactivity what does that mean in terms of context next step is GE and moving along the sales cycle with an organization like us so we score at that contact level quite heavily we also use that same model of scoring for attribution so we want to attribute every dollar of marketing to a dollar of sales I'm a primary driver is selling software at SAS so I'm a primary attribution model is how much pipeline are we generating that's and then how much for that to store women wins are really important so as a marketer I know I get measured on pipeline and that's pipelines cool but the reality is the business needs to make the money so I like to think about how many wins we create for the sales team I'm off marketing impacted activity that same attribution model we drive across every activity so we don't do a first thing last hour first arts last touch equal distribution we do a model-based method of attribution so our analytical model knows which drivers or which levers should be a portion to which dollar of pipeline then we can't repeat across that and see which activities it'll bring the most the interesting part of all that is you never really see one activity is better than another activity you see a combination of activities working together and all those interactions working together is what drives a really good outcome and in terms of win for us if we do a single-channel approach we don't get great outcomes if we do a multi-channel approach and we touch people appropriately many many times John had four digit four touch points of research before some ones we see interesting numbers that range from four to dozens and dozens and it really depends who you are in that audience of buyer technical buyers like to consume the local content we actually think they like to download your loved content we don't know if they've read a lot of content harder part of it I have the pile of white papers on my desk top of my computer I'm sure you two haven't read any of them now download them but for me that tells me you've got interest in a topic and our brand is at least salient enough to you to touch that piece of content so that's a good thing for me whether you've read it or not who knows if you have I know that when our callers call out that most people don't remember downloading anything so the white paper on its own it's not the greatest thing the white paper plus the brand plus other interactions sum up to a good marketing experience right so we do a lot with technology we drive a hard model in the background we use advanced analytics so machine learning and artificial intelligence to build our model plus a lot of business rules so anybody that tries to sell you an idea that you can automate this based on pure analytical models probably wrong the reality of analytical models is you need to have business rules overlaying that that make sense our system does both of those things and people are involved at every step so even though we have complete automation of contact to lead through the opportunity someone needs to do something a personal contact point is really really much more powerful than a digital contact point in my view especially when you're looking at what we do it's a switch just b2b software sales in a highly complex and developing environment you need to have a touch point with somebody who also knows something and can help articulate that message so we're gonna use technology a lot we mark it across the journey our journey is an endless loop people come back around thereby again they repeat by they fade out we have to resell it's the same model it probably all of you haven't b2b marketing world so for us it's a very long complex journey when you talk about pre-purchase behavior and what people are doing before they come to us we do know that a lot of people doing most of their research before I even talk to one about people so making sure that research is on point is really important and that research gets to them at the point it needs to is super important to us but following up fast is also super important to us I've worked in this game for quite a while now and found that it doesn't matter how many great leads we create marketing we cut thousands of things if a person in sales as we pick up the phone and have a really good conversation that's the conversation that drives the next step so as marketers we're not selling a bit of technology we're trying to sell a conversation with Account Manager so they can develop the pain in the customer and they can go through their journey and buy something our jobs get them up to a point where Account Manager can have a great conversation so we have a lot of evidence built up and I kind of give you an example something we prepared earlier this isn't really comfortable ABC technologies so that really is something technologies it's a company sits in Singapore and they are in the hi-tech manufacturing space so it's just a one example of how we touch a customer in multiple ways to make an opportunity happen it's a opportunity for thing about all be mining so they build build technology products for enterprises mostly manufacturing they want to make sure their manufacturing quality is high if they have high manufacturing quality they get less returns they get less complaints always kind of wonderful things you want as a customer organization it's about a half a million dollar deal so it's not a tiny deal for some of you that will be a massive deal for some of you there'd be a tiny deal for us it's a nice medium sized deal we like to do as many others with Kennedy to make some money so kind of you look at the journey so this is a little slide down little slide this isn't actually a slide this is a screen shot of my computer from yesterday I took away on branding bits that talked about the customer itself and how much money everything is worth but it's a kind of simple model we do we have a little tool where you type in the name of the company it tells you every interaction point they've had with our organization along their marketing journey I took out some of the sales interaction points because they just start to get bit crazy because get to see we have this like dashboard across the top all this looks easy until you get under the surface of it how did you figure all that out we'd get alike data from so the data processing and data integration part and when we hear from Mexicans from IBM about data integration that should help feed the idea of this is not that easy to do in a automated fashion but we know what it's these people have done so out of this journey there's probably about 35 people in this current journey at the moment so there's a fair number of people in the buying group the account manager says this too right if I look at all our numbers so I do this kind of on a semi-regular basis for fun by every country in AP says about 14 16 I remember those countries the average number of contacts that an account manager puts on a deal in our CRM system is between 1.3 a month 1 8 ok the highest number is actually in one of James's worlds is 45 so there's 45 people on one deal to the most popular number or the mode if you're a step C person is one but it's between one puts for a month per day the reality is we know it's between 5 and 7 for most of our opportunities because we know what people be interactive with our content along the way so I think it's kind of interesting that understanding and dichotomy there that's marketers we see there's a bigger group buying as account managers we like to make sure we just have a person signing the contract in there we know is there it's true it's just true so we see what they're doing we see on email food how many events and what you can see an opportunity that is worth half a million dollars people are clicking on emails about 73 of them over that time period so that's not a massive response rate but 73 people have taken our content based on an outbound communication from SAS three people have come to a SAS event so we love SAS events they're fantastic yeah a lot of touch people at a time but we have to mix make sure we get the right guy the audience here so the bigger group doing mouth flicks a smaller group of buyers company yeah one person can comment extra move every day with a third party this IBC 70 with download wallpapers do people actually download an online trial of our software and tested it out in their own environment they both did that early in the sales cycle that kicks off an automatic process where they count rep gets a lead and they have to follow it up within 24 hours or someone gets mad how many sites they were what content they looked at what business area they look at so we have a value proposition every piece of content on our website tagged with the business objective every piece of our digital content is take the same way so we can track what you've been looking at and that helps us understand your buying intent so we look at buying attempt from things like priority engine which we import into our system at the same time look at buying intent based on what content you've looked at on our website by own white papers varying events you come to it along the way so yeah we're kind of in that three first people that we makes us to take targets very into product as well so we kind of called out the tick target ones because we're a tick target today and we've got to love that those buyers we wouldn't have known otherwise so they're new people we automatically ingest Ferrari engine data on a weekly basis so every new contact comes into our system with their buyer behavior and it forms part of our overall scoring model so that buying intent data just builds and builds and builds whether it's ours or or a tech target version of that it comes into our system and builds a bigger picture of the customer so we're not kind of relying on one place to get our buying in town we're looking to translate that across multiple parties and that's kind of really important to us that we get a great view of that there's been 41 marketing specific interactions that's where somebody has specifically taken an offer of some thought from us by type of interaction gearbox in a positive direction and there's a basic type of timeline I pull that only three types those with website interactions which where someone registers so we get their name or their details in their intent so it's a more detailed piece of content and email clicks and what we see if I have to do that this sales cycle across here you see these kind of periods of battery high activity lots of stuff happens they can't type pretty tightly where there's a stage change in our sales process for the early spike we had a couple of downloads of lots of content lots of webflix so event work and some online trials at that point that opportunity moved to its next stage it popped along a little bit now stops along the way their average sale sucks a hundred forty four days for really easy ones they can go into 300 400 dates our service put decent size deals perfect complex so this is not a bad timeline for us it's not a kicked by kind of bit of software at that point we moved to stage three of the sales cycle so we're kind of moving through the cycle pretty at a moderate kind of pace but you can see when there's a period of hyperactivity when people actually engage with you it's a great time to have a conversation that moves them to the next step in their sales are so kind of this is the way we do things in terms of what we look at and what we show our teams the sales team have access to what's called digital footprint report they can see everybody's online behavior with SAS and offline behavior in one report so when they make it call they have a great picture of what's happened how it happened when it happened how long you spent there so they can frame a conversation they don't ring up and say my favorite was we saw you download the whitepaper because we know that doesn't really work we know that doesn't work because our people do it at times yours do - don't worry I know they do but when they don't when they spend time learning how to frame a really good conversation based on behavior the outcomes are significantly better so where I think James will talk in the panel about how we're going about this process at the moment with one of his team members and working with Tom from titi and that improvement in conversion based on a proper conversation so I love digital everything I love measuring everything a lot modeling everything but without a human factor that drives that conversion higher I think you're kind of wasting your time this end so you've got to get through that two ends together how marketers we think marketing is the most important part of everything I think it's the most important part of any business the reality is making money is probably pretty important to the business and the profit motive is also important to the business so converting leads to deals is pretty important and that's why that human touch piece and for our piece is super important to us as well and that's part of our model so I love technology but also a lot of sales people something may actually pay the bills they have the hardest job in the company except for marketing Sciences which is the actual house job and that's kind of that's a visual of our map of how we do things in what we measure under the surface there's a lot of Matic our Matic map has apart from all of our stack of Assassin's technology for automation and data management reporting analytics there are hundreds of other pieces of Matic building areas when I look at Scott Brinker's chief mark tech yumoto forward his content look at his mark tech map houses pretty ridiculous it says so it's a little moving pieces so I think it's important to try and use analytics to pull out the valuable pieces and then work with your sales team to make deals happen yeah that's what I think if you you were going to remember anything from today I like a few key points at the end of presentations because I don't normally remember everything during them back yeah I think just acknowledging the complexity that we as marketers are working in and starting somewhere I mean I sure as technology companies we were all on that doing somewhere so I guess to take that taking that next step to finding those areas we may be a few tweaks and automation or measurement will will would start to yield some different conversations or some better results or change the way you're producing content whatever that that that number might mean to you I think learning is a big one so again with the analytics piece we can test and learn pretty quickly okay this is working this is not worked with can and we can pivot based on based on those learnings I'm a big one on collaboration I like to ask a lot of questions and I value their internally with its with the sales team where I go to market teams or marketing Sciences I appreciate you know the the input from partners like tech target just to go okay what what tech mean what can we do how can we improve this this program to get more out of it and so try to try to make sure that I having those conversations sometimes it's just really sometimes not but as my own part of my own role you know learning learning and collaborating in a way and where we can automating so again with their volume of data that we've got coming into us much as you can automate some of those those decisions or with those processes is it going to help us so one of the things that Don me is the fact that the media mix access the things that you are investing in to try to spark this activity is pretty diverse Greg you've worked at SAS for a while how has that media mix if you will changed over the years what does it look like today versus let's say three or four years ago that's a great question clockwork that's for a really long time so when we send up all we did was printed advertising that we came around and that kind of carried off quite a long time I think the last three or four years with really much more heavily invested in customer journeys and that means we've invested much more heavily in third-party data sources of research like tech targets platform increase that significantly come in syndication we didn't ever do in AP reaching over until three years ago when do we start with its four years of evolution we didn't do any convince indication so everything was driven by SAS is the interaction with the market not part of people's interaction with the market so I think that's been the biggest change is broadening our horizons we do a lot more advertising than we did before SAS is what I did a brand that you never knew all that was really awesome so we're really trying to get that out of the market lot more so changing channels put some social pretty hard to people what we did before pushing advertising lot pushing a brand message rather than a technology message will be important to us in the last three or four years because we sold super hard complex problems we make that simple for the consumer right so I think that's probably how it mix has changed I love the fact that you're able to directly track what you call what we call hyperactivity with the acceleration in the purchasing process and I'm just wondering logistically how do you guys handle the sales handoff there when you're detecting something from a marketing perspective how does that then bubble up to an account manager to then take action on what you're what you're achieving meeting so we have a whole system of scoring so our scoring system runs score runs how early twenty four-hours-a-day stop real time so good luck real time but twenty four-hours-a-day scoring system so the model is running looking at an activity if it sees a series of activities that run together that would have a probability of a contact becoming an opportunity with a dollar value in our CRM system it's all pretty complex that's the outcome we're looking for we're looking for any contact it's likely actual opportunities already there's not about people living to a meeting or in it's about dollar values the system will score those alleys so behaviors to score early if there's hyperactivity they will probably push above the threshold and I'll score make we know push through the lead to the CRM system automatically something called a score leading our system that'll buy what we get something the CRM system the red ones it if if then I'm gonna count it'll bubble out to our Inside Sales Group they're supposed to collapse those are my super regular basis that's awesome okay last question for the sake of time you know one of my key takeaways in listening to you all is the fact that you clearly do marketing as a marathon and not a sprint right it looks like you're in this for the long haul you're in this in order to identify as many potential prospects as possible in an account and then influence them as they're doing this journey we all know the reality is that sometimes we're coming up against a quarter and sales guys are looking for a quick pipeline and they may not have the patience when they ask you to abandon the patience you've shown in influencing an account do you change tactic when that happens what do you guys do to kind of you know feed the beast if you will when crisis hits I'll give you the mic to Suze you know we have just recently had an example wherein a solution area was that very situation so I think really working working hard with what we've already got so part of that was was working with context that we were in you in the system and coming up with creative ways to just move that along a little bit further so using the data that we've already had to shift that conversation forward and I think always keeping something up your sleeve or for those scenarios I think would be unrealistic if we didn't acknowledge it was going to happen so yeah just having that contingency in mind that there's going to be a need to ship tank and I think you know it to what we were talking about earlier we've got a range of channels and a range of people in those buying chains in the buying stage so we know which leapers with we can pull to do something in the short term so I think staying really aware of what your leaders are and the data that you've got to to help you drive that fantastic I think for the sake of time we're gonna have to leave it there please join me in thanking great [Applause]
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