Extracting Maximum Value out of Marketing Automation
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Extracting Maximum Value out of Marketing Automation
- 1. A Digital Solutions Firm delivering Marketing and Technology Solutions New York . Toronto . Phoenix . Los Angeles . London. Dubai . New Delhi A Success Plan for Extracting Maximum Value out of Marketing Automation A Webinar
- 2. 1 1. The Challenge withMarketing Automation technologies 2. Our Approach 3. Key Components ina Success Plan Agenda
- 3. 22 What the Research is telling us
- 4. 3 Pressures driving B2B Marketers to automation
- 5. 4 85 The percentage of b-to-b marketers that describe themselves as “self-taught” professionals. 81 The percentage of b-to-b organizations that spend $1,000 or less per year on marketing skills development. 25 The percentage of organizations that have purchased marketing automation that are utilizing it to the fullest. 7x The gap in waterfall performance (inquiry-to-close ratio) between average and best-in-class organizations. B2B marketing – a reality check Only 25% of organizations are fully realizing the potential of their Marketing Automation Platform – Sirius Decisions - Sirius Decisions
- 6. 5 The Reward of Higher Revenue Best-in-Class Organizations deliver a 79% improved company wide revenue growth
- 7. 6 It’s a Journey! To build a fully optimized and automated marketing machine that drives revenue you need a roadmap Random Acts of Marketing Disconnected Processes and Tactics Low visibility into effectiveness Where you are today Where you want to be
- 8. 7 Job#1 – Blueprint and Framework Current State: Understand & document Current State How do your customers decide to buy today? How are sales leads generated today? What does a good lead look like to sales? What is marketing's role in this process? How are leads qualified for inside/field sales? What happens to dormant/inactive leads? Future State: Design an Achievable & Measurable Future State Where do you want to be in 1,2,3 years? Buyer Needs, Organization, Processes, Metrics, Technology Getting There: Steps & Milestones along the way with measurable progress Creating the Roadmap
- 9. 8 Our Approach Create a strong foundation for lead management based on a deep understanding of business needs ActivitiesDeliverables • Project Vision • Requirements • Business process design • Install and integrate systems • Documentation • Campaigns • Campaigns
- 10. 9 Typical Roadmap Q1 Q2 Q3 Strategy and Planning Plan and Design Demand Gen Framework Campaigns Launch Lead Forward/Revenue Back Database Analysis CM (Customer) Campaign Planning Vertical-specific (Acquisition) Campaign Planning Install and Integrate Launch Campaigns Evaluate and Optimize Plan and Design Reporting/Analysis Framework Ongoing Refinement Lead Management Marketing Measurement Campaign Management Initial Planning and Installation Install and Configure Marketing Automation • Data Model • Email Templates • Form and Landing Pages • Lead Scoring V1.0 • Web Form Integration • CRM Integration Vertical-specific (Acquisition) Campaign CM Campaign Real-time Sales Alerts Sales Lead Queues Scoring and Routing Closed-loop Reporting Lead Scoring Review and Adjustment Evaluate Sales Impact and Adoption Add new campaigns Process Adjustment
- 12. 11 1. Who is the Customer? 2. What does the Buying Process look like? 3. Content Strategy 4. Lead Management Architecture 5. Where does Marketing Automation Fit? (Integration) 6. Campaign Planning 7. Track, Measure and Optimize Key Components of the Framework
- 13. 12 1. A Lead Forward, Revenue back analysis will not only provide insights into a lead management process but will also tell you who your ideal customer is 2. Criteria: Technical Buyer, Economic Buyer, User Buyer, Coach Job Role/Function Industry Motivations Pain Points Who is Your Customer? Define your Ideal Customer Profile
- 14. 13 Understand the Buying Process By identifying who our customers are and how they buy will help us segment and map out the way we engage with them $$Prospect Qualified Lead Sales Accepted Lead (SAL) Suspect Sales Qualified Opportunity (SQO) Evaluate PurchaseLearn JustifyInterest Customer’s Buying Process Sales & Marketing Process Marketing validates quality of interest Marketing nurtures to sales ready Sales validates and accepts ownership Sales validates BANT criteria Sales closes revenue opportunity COLD WARM HOT
- 15. 14 Develop a Content Strategy Content…in context
- 16. 15 Develop a Content Strategy Content…with a purpose: Assemble and categorize content by objective Attract Qualify Nurture
- 17. 16 Lead Management Architecture Create an Automated Lead Management System that nurtures and moves prospects through the buying cycle to close Lead Creation Thank You Follow-up Pre- Qual Score Sales (Qual) Nurture I Nurture II Nurture III Nurture IV LOSS ND YES NO NO CONTACT ME CONTACT ME CONTACT ME CONTACT ME Close CONTACT ME CONTACT ME Whitepapers Facebook/PPC/DM/Telesales/Banners to site General website Outbound Programs Online Events Tradeshows Intro I CONTACT ME Other sources ( D&B List Buy, Association Lists, Partner Channels) SFDC MAP
- 18. 17 Lead Management Architecture Continue to communicate to Customers with relevant, personalized and timely communications Data Standardize + Segment Email? Other Channels Drive to Web CM Nurture I CM Nurture II NO Yes Customer Referral SFDC MAPData Feed Data Sign Up CM Nurture III • Communicate changes in program / product terms & conditions via targeted email • Execute servicing & marketing client level communications via email • Advocacy and Referral Campaigns • Email Opt-in/Preference Center • Bill Paper-off Campaigns • Delinquency alerts WEB • Benefits: • Reduce costs across all communications; improved ROI • Improve customer experience through relevancy of communications to clients
- 19. 18 Where does MA fit?
- 20. 19 Integrate the Tools Integrate platforms for a common view of the customer across channels
- 21. 20 Campaign Planning Map your messages
- 22. 21 Create a Calendar of Activities Volume and Velocity of activity is critical as multiple interactions result in better scoring and identifies highly engaged prospects
- 23. 22 Email Performance Website Visitors Inquiries Tracking and Reporting Start Simple
- 24. 23 Email Performance Website Visitors Inquiries Lead Score Qualified Leads Tracking and Reporting Add Lead Scoring and identify/route prospects by level of engagement
- 25. 24 Email Performance Website Visitors Inquiries Lead Score Qualified Leads SQO Closed /Won Tracking and Reporting Close the loop by bringing in Opportunity and Revenue Information
- 26. 25 20000 400 100 50 17 Looking at the Numbers Lead Management by the numbers: Without Pre-qualification Sales Stage Volumes Required Conversion Rate Prospects Qualified Leads Sales Accepted Leads Sales Opps Closed Won 2% 25% 50% 35% $1.7 Million in revenue Assumption: $100K Value of Closed Business
- 27. 26 20000 1000 250 125 44 Looking at the Numbers Lead Management by the numbers: Focus on pre-qualifying at the top Sales Stage Volumes Required Conversion Rate Prospects Qualified Leads Sales Accepted Leads Sales Opps Closed Won 5% 25% 50% 35% $4 Million in revenue Assumption: $100K Value of Closed Business
- 28. 27 20000 1000 650 325 114 Looking at the Numbers Lead Management by the numbers: Common definitions of Qualification Criteria between Marketing and Sales Sales Stage Volumes Required Conversion Rate Prospects Qualified Leads Sales Accepted Leads Sales Opps Closed Won 5% 65% 50% 35% $11 Million in revenue Assumption: $100K Value of Closed Business
- 29. 28 Finally… but most important Empower your sales team Courtesy: Eloqua Discover for Salesforce
Notas do Editor
- But the benefits of doing it right are enormous. Engaging your customer with personalized messaging and timely communications generates a 2 to 3 times For best in class organizations, average performance in terms of revenue was 59%. If you look at the industry average, the average performance increase was just 9% So the question then is how do you there?