5 Step Recipe for Marketing Automation Readiness
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5 Step Recipe for Marketing Automation Readiness
- 1. Is Your Company Ready for Marketing Automation? Bryan Ehrenfreund Vice President of Digital Strategies Televerde
- 2. Poll Question How would you rate your organization on the Marketing Automation Maturity scale? 1. Don’t have marketing automation and not on our radar. 2. Don’t have marketing automation but we’re considering it. 3. Have marketing automation but use it only for email blasting. 4. Have marketing automation installed and are utilizing advanced functionality like lead nurturing, lead scoring, progressive profiling and CRM integration.
- 3. Market Trends IDC predicts overall market for automated marketing will grow from $3.2 billion in 2010 to $4.8 billion in 2015. Gartner predicts by 2017 the CMO will spend more on IT than the CIO.
- 4. 3 Key Trends Driving Adoption 1. Changing buyer behaviors forced companies to change how they market and sell. 2. The 2008 recession permanently altered how companies approach revenue generation and measurement. 3. The software-as-a-service (SaaS) delivery model made the technology available to many more companies than ever before.
- 5. Buying Has Changed Forever OLD DAYS: INFO SCARCITY 1960’s - Recent TODAY: INFO ABUNDANCE BUYER SALES REP SALES REP © 2012 Televerde, LLC
- 6. 4 Common Issues #1: Lack of a Plan
- 7. 4 Common Issues #2: Batch & Blast
- 8. 4 Common Issues #3. Instant Results
- 9. 4 Common Issues #4: Diving into Technology
- 11. The Right Mix
- 12. 5 Step Recipe for Readiness B2B Marketing Organizations Lack Risk of Not Being Prepared How to Prepare for Marketing Automation Lead Management Process Marketing generates low-quality leads that frustrate the sales team • Develop an integrated lead-torevenue management process • Lead definitions • Service level agreement • Sales & Marketing Alignment Strategic Content Creation Messages don’t resonate with buyers’ needs and just focus on products and promotions • Enlist help from subject matter experts in business units • Audit the content library to ensure it’s relevant and aligned with buyer needs • Develop a sufficient volume of content to sustain an ongoing nurturing program • Define customer personas
- 13. 5 Step Recipe for Readiness B2B Marketing Organizations Lack Risk of Not Being Prepared How to Prepare for Marketing Automation Data Quality Wasting budgets by marketing to the wrong people; unable to take advantage of advanced automation of marketing • Acquire relevant contact data for target markets Talent and Skills Poor execution and under-performing campaign results • Have people with the technical, marketing and data prowess necessary to establish, execute and optimize MAP-driven programs Human Touch Poor lead quality • Validate, correct digital behaviors, and accelerate to appropriate next step
- 14. Recommendations Assess your state of readiness Don’t put technology ahead of organizational readiness Build a solid foundation Marketing Automation Motto: “Be Prepared” Think big but start small
- 15. Contact Bryan Bryan Ehrenfreund VP of Digital Strategies bryan.ehrenfreund@televede.com Direct: +1 480.303.7078 Televerde provides end-to-end marketing and sales solutions that make B2B sales pipelines stronger and faster with maximum ROI, while making marketing and sales executives smarter. Twitter: @ehrenfreund www.televerde.com blog.televerde.com
Notas do Editor
- IDC predicts that the overall market for automating marketing will grow from $3.2 billion in 2010 to $4.8 billion in 2015.Gartner predicts CMO’s will spend more than on IT than CIO’s by 2017
- We’ve seen a dramatic transformation in marketing over the past 10-12 years, and perhaps none has impacted the discipline more profoundly than the changes in recent years. Buyers are now in control of when and how they access information during the purchase process. At the same time, marketers are constrained by tight budgets while charged with longer to-do lists, including the need to interact with prospects and customers across a dizzying array of channels. And at the end of the day, marketers are more accountable than ever for revenue. All of this adds up to numerous challenges – and new opportunities – for today’s marketers. With the right attitude and approach in this new world, marketers can make the leap from average to high performing. Without a doubt, today’s buyers are in control. Based on significant research, Forrester has found that buyers seek out 3 pieces of content about a vendor for every 1 piece sent by a marketer, and for every 1 piece sent from sales. They also engage with potential solution providers through 3-5 different channels. As a result, it’s incumbent upon marketers to deliver relevant content in the channels where buyers spend time. This dramatically complicates the job of marketers. Several changes in customer buying behaviors are making marketing automation mission-critical:· Buyers do more research on their own. Business buyers have increased the time they spendtalking to peers and colleagues about business problems and investigate solutions on their ownbefore engaging with vendor sales reps. This requires marketers to use automation to monitorwhich offers or messages buyers respond to and what information buyers consume and then touse that data to deliver additional information that helps buyers move to the next stage of theproblem-solving cycle.· There are fewer active buying cycles. While buying cycles are getting longer, a smallerpercentage of people in the marketing database are in active buying cycles at any one time.Marketers need automation to listen for buying signals being sent by potential buyers as theyinteract with content, score them based on their propensity to be in buying mode, and sendthose who are worthy of sales attention to the appropriate salesperson.· More stakeholders are involved in buying decisions. More people affect the purchase decisionthan in the past, including line-of-business managers, IT, finance, and procurement. Marketingneeds to deliver information that explains the offerings and business outcomes as they relate tothe particular interests and concerns of each stakeholder, which is a level of granularity that isdifficult to manage without automation.
- 4 Common Issues I’ve seen most often starting with planning
- “As with most business processes that have been automated, technology is not the solution — it is just an enabler. Before jumping into a technology evaluation or implementation, marketing leaders need to sit back and make sure that they prepare their organization for the changes required to fully leverage marketing automation. This means that you need a clear understanding of where you want automation to take you and need to prepare the process, content, data, and people that are required to get you there.”
- Would you build a house without a set of plan and foundation? Well that’s exactly what many organizations are doing when come to implementing Marketing Automation technology.
- Process and People come first. If you don’t get right no technology will solve your demand generation problems. Will only magnify your issues.
- 5 Step Recipe for Readiness1-Lead Management Process – lead definitions, SLA’s and hand-off process (Sales & Marketing Alignment)2-Content Strategy - Content alignment to buying process3-Data quality4-People – Talent & Skills5-Human Touch - VCA
- The marketing automation motto : Be preparedAs with most business processes that have been automated, technology is not the solution — it isjust an enabler. Before jumping into a technology evaluation or implementation, marketing leadersneed to sit back and make sure that they prepare their organization for the changes required to fullyleverage marketing automation. This means that you need a clear understanding of where you wantautomation to take you and need to prepare the process, content, data, and people that are requiredto get you there