How to Execute a Successful Nurture Strategy with Engagement Programs
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Today’s buyers require more than just random acts of marketing in order to trust and become loyal to your organization. Lead nurturing is the process of building strong relationships with your audience throughout the buying journey. View these slides as we show you how to create effective nurturing strategies and programs, and report on results all in your current Marketo instance.
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How to Execute a Successful Nurture Strategy with Engagement Programs
- 1. Page 1 How to Execute a Successful Nurture Strategy Pathway to Nurture September 28, 2017
- 2. Page 2 Instructor Introduction Jannika Kampschuur Sr. Technical Instructor Jannika is a Sr. Technical Instructor at Marketo. A skilled sales and marketing operations professional, Jannika possesses more than 10 years of practical, real world CRM and marketing project management, consulting and software implementation experience. Jannika holds a B.A. from University of California, Los Angeles (UCLA) and a M.S. in Human Behavior (focused on brand loyalty and consumer decision making) from the University of Southern California (USC). Jannika is a Marketo Certified Expert (MCE). Her recent Marketo customer implementation and instruction work includes Canon, Comcast, Facebook, Google, Laureate Education, Panasonic, Pfizer and Yahoo.
- 3. Page 3 What is Nurturing? • Nurturing is the process of building effective relationships with your audience throughout the buying and customer journey. • The components of nurturing encompass: 1. Engaging customers as individuals 2. Based on what they do 3. Continuously over time 4. Wherever they are 5. Directed toward a long term goal 6. With measurable impact 7. At the speed of digital
- 4. Page 4 The Difference Between Drip Marketing & Nurturing Both send (drips) communications (email, direct mail, etc.) at a specific cadence • Drip marketing: • Does not take into account their activity nor behavior • Is static and non-adaptive • Nurturing: • Considers the recipients’ responses – or lack thereof – and adapts accordingly • Is personalized to the place of the recipient in your marketing funnel, so that recipients receive relevant content
- 5. Page 5 Why Does Your Organization Need Nurturing? Not all leads are ready to buy now, but with nurturing, they may be able to buy later… 79% of marketing leads never convert to sales. Lack of lead nurturing is the common cause for poor performance. (Marketing Sherpa) Companies that excel at lead nurturing generate 50% more sales ready leads at a 33% lower cost. (Marketo Research) Nurtured leads make 47% larger purchases than non-nurtured leads. (The Annuitas Group) Ask yourself: Is the content we are sending to our audience relevant to them, even if they are unable to purchase from us now?
- 6. Page 6 Why Does Your Organization Need Nurturing? • Relationship Building • Create a relationship over time • ‘Listen’ and respond to what your audience is interested in • Branding and Thought Leadership • Provide useful information to your audience • Position your company as an industry leader • Nurturing Shortens the Sales Cycle • Become viewed as relevant, trustworthy and engaging • Ensure decisions are made more quickly Lead Nurturing Increases the Propensity to Buy
- 7. Page 7 How Do Engagement Programs Work? Content Delivery Schedule Week 1 Week 2 Week 3 #1 #2 #3 Engagement programs serve your content to your audience depending upon when they enter the program. • Provides content to your audience at the right time • Ensures your content is relevant longer Sample Engagement Program:
- 8. Page 8 Types of Nurture Strategies • Red Carpet Track (Welcome) • Boomerang Track (Recycling) • Gopher Track (Stay in Touch) • Gorilla Glue Track (Retention) • Baby, Come Back Track (Win Back) • Sleeping Beauty Track (Wake Up) • Detective Track (Insufficient Data)
- 9. Page 9 Tip #1: Pull a People by Status Report • What is the distribution of your database? • Which audiences should you nurture first?
- 10. Page 10 Creating Content: The 4 Elements of Engaging Nurturing 1. Trustworthy • Does the audience see your company as an organization that wants to do more than just sell to them? • Does the audience see your organization as one that will make their lives easier or help them solve a problem? • Does the audience feel as though your company is considering what they want and need (rather than what you want and need)?
- 11. Page 11 Tip #2: Set Expectations From their first engagement with you, your audience should understand what to expect. • Create an opt-in process • Don’t over-call them • Allow your audience to tell you what they are interested in • If their behavior is indicating no interest, show them other content that may be more applicable to them
- 12. Page 12 Creating Content: The 4 Elements of Engaging Nurturing 2. Relevant Send the right content to the right person at the right time • Talking to the right people • Saying the right things • Constantly improving
- 13. Page 13 Tip #3: Align Your Content with Your Marketing Funnel Nurture people based on where they are in their buyer’s journey. Content Alignment is Key: • Top-of-the-Funnel (TOFU) - eBooks, blog posts, research data, funny videos, curated lists, infographics • Middle-of-the-Funnel (MOFU) - buying guides, RFP templates, ROI calculators, analyst reports • Bottom-of-the-Funnel (BOFU) - pricing, demos, third party reviews, customer case studies
- 14. Page 14 Tip #4: Design Your Content to Last Remember, your nurture initiative can be live for months or even years! • Design content so that it will stay relevant longer • Rather than creating overly-detailed, long content, chop up your content into multiple messages • Re-use content from other programs (Marketo will not re-send an individual email from a previous blast to anyone in the stream who has already received it.)
- 15. Page 15 Creating Content: The 4 Elements of Engaging Nurturing 3. Multi-Channel • Prepare for multi-channel engagement, from desktop to mobile phone • Consider the devices your audience uses to access various channels • Create a content path shows your audience that you know they’re on the move
- 16. Page 16 Tip #5: Enhance Your Messaging Beyond Emails Top-of-the-Funnel (TOFU) Early Stage 1. Website Whitepaper Offer: The Changing Buyer and the CMO 2. Email Report: Marketing Maturity Curve: Mid Stage Social Interaction. Middle-of-the-Funnel (MOFU) Mid Stage 1. Social Interaction: Sent Tweet for Report: Marketing Automation Buying Trends 2. Sales Call Bottom-of-the-Funnel (BOFU) Late Stage 1. Email: Case Study: Sales and Marketing Alignment with Marketing Automation 2. Sales Call: Demo Request 1 2 1 2 1 2 TOFU MOFU BOFU Sample Multi-Channel Lead Nurture Program: Buyer Persona CMO
- 17. Page 17 Tip #6 Nest Programs Within Your Engagement Program • Nurture your audience with a variety of messaging. • Save time by including other programs within your engagement program. Emails Event Programs Default Programs
- 18. Page 18 Creating Content: The 4 Elements of Engaging Nurturing 4. Strategic and Impactful Set goals for your nurture initiative: • How much money are you putting into your program? • How much to plan to get out of it? • What do you want people in your nurture program to do? • What is the success status?
- 19. Page 19 Tip #7: Build Your Program to Be Measurable • Add a period costs as you build and maintain your program • Add smart campaign to measure success
- 20. Page 20 Tip #8: View Metrics Using the Engagement Dashboard The Engagement Program Dashboard is the easiest way to see how the content in your engagement program is performing.
- 21. Page 21 Engagement Score • Ranges from 0 to 100 • Accounts for both engaged behavior and disengaged behavior ‒ Open ‒ Click ‒ Program Success ‒ Unsubscribe ‒ (Program Membership) • Benchmarked against drip and nurture style emails to give an average of 50 • Calculated 72 hours after each cast to give leads a chance to engage with your content Tip #8: View Metrics Using the Engagement Dashboard
- 22. Page 22 Tip #8: View Metrics Using the Engagement Dashboard Exhaustion Widget • Helps you anticipate when leads will have exhausted all content. • The exhaustion score is calculated immediately after each cast. • Leads for whom content has been exhausted will not receive any communication in the next cast. Example showing that in 1 cast, 195 leads will have exhausted all content.
- 23. Page 23 Tip #8: View Metrics Using the Engagement Dashboard Engagement Over Time Widget • Shows the average engagement score over time and the impact of content edits • To show a single piece of content instead of an average, click the gear icon, then select the piece of content
- 24. Page 24 Highest Engagement Widget • A list of all content, ordered by the highest engagement score • To change the sorting, click the gear icon, then select the sort order Tip #8: View Metrics Using the Engagement Dashboard
- 25. Page 25 Tip #9: Use the 3 R’s of Marketing to Refine Your Content • Reorganize: Maximize your efficiency and use sections of the same piece of to create smaller breakout pieces. • Rewrite: Extend your investment of time and money when creating content by using the content that you already have in creative ways. • Retire: Content that no longer has relevant information and can’t be revamped is past its expiration date.
- 26. Page 26 Advantages of the Engagement Program Engagement programs offer an organized way to: • Create a complex sequence of communications • Optimize your content over time, based on performance • Send time-relevant content in a streamlined way within dedicated intervals • Deliver your message to the right person at the right time • Manipulate and test your nurture strategies
- 27. Page 27 Additional Resources Marketo University Free Marketo Training Modules https://www.marketo.com/education/training/ Marketo University Virtual Instructor-Led Course: Building Engagement Programs https://www.marketo.com/education/course-catalog
Notas do Editor
- Hello Everyone and welcome to our Pathway to Nurture webinar. Today we are going to focus on how to execute a successful nurture strategy, from deciding who to nurture to how to develop engaging content that will build a long term relationship with your audience.
- Once again, my name is Jannika and I am a Sr. Technical Instructor here at Marketo. Years ago, I sat in your seat, as a Marketo customer and user. After years as a customer, I then transitioned to work at Marketo. First, I was an Enterprise Consultant, helping large organizations setup, roll out and implement Marketo best practices. I then became a Sr. Technical Instructor in order to help Marketo users take advantage of everything the platform has to offer. I look forward to working with you for the next hour.
- According to Marketo’s benchmark study, on average, 50% of leads are not yet ready to buy. Nurturing creates automated, ongoing communication with your potential buyer throughout the sales cycle and beyond— maximizing results and revenue for your organization. In fact, here at Marketo, since we have such an active and wide top of funnel, 98% of leads that enter our database are not ready for sales. So we have to nurture those buyers over time until they are ready to make a purchase. Lead nurturing automates your communication with those leads so that you are constantly engaging in a relationship throughout their buying journey. Additional, customer nurturing can also be used to ensure new customers engage with your company, or to bring existing customers back for more.
- Before we dive into lead nurturing, let’s take a moment to set the record straight about the differences between lead nurturing and drip marketing, a one-size-fits-all predecessor to nurturing. Both types of initiatives sends (drips) communications (email, direct mail, etc.) at a specific cadence set by the marketer. A drip marketing program, however, does not take into account their activity and behavior because it is static and non-adaptive. While it still has a place in the marketing mix, it has mostly become a subset of a nurture strategy. Nurturing, on the other hand, responds to your audience’s behavior. It provides a personalized journey based on what your audience is doing, so that every person in your nurture initiative receives content at the right time based on what they do – or what they don’t do. Since drip marketing tends to have the same response for everyone, not taking into account specific actions, it doesn’t deliver the same value as lead nurturing, which is personalized and adaptive.
- Everyone is at a different stage in your marketing funnel. For example, not all leads are ready to buy now, but with nurturing they may be able to buy later… Here are a few stats to support why an organization should implement nurturing.
- Relationship Building: Lead nurturing enables you to communicate with your buyers on a more sophisticated level. Instead of using outdated drip nurture tactics or only email, modern lead nurturing helps you build relationships through multiple mediums and with relevant, connected campaigns. Through the listening capabilities of engagement program, you can have a continuous conversation through website, social, email, advertising, and more. Your communication now becomes consistent, and relevant—and you can begin to build trust and a relationship with your buyer over time. Branding and Thought Leadership: The important brand attributes for a vendor are often credibility and trust—and unless you are a well-known company like Google, the best way to build credibility and trust is by sharing useful information. If you can help frame the discussion, your company will be seen as a trusted advisor and thought leader. If buyers believe that your company understands their problems and knows how to solve them, this helps reduce the feelings of fear and can make a big difference in being selected for consideration and purchase. Lead nurturing helps you build that perception as a brand. Lead Nurturing Shortens the Sales Cycle: With access to more information than ever before, buyers often take more time to explore their options and educate themselves before making a purchase decision. Modern sales cycles can simply be longer, and nurturing your leads shortens the sales cycle because you can be relevant, trustworthy, and engaging throughout that critical period of time.
- This means that people within your engagement program will receive various content pieces at different times, depending upon when the were added as members to the program. Here is an example engagement program, with a delivery schedule of emailing members once per week on Wednesday. If I enter the engagement program as a member today, I will receive Email 1 next Wednesday, Email 2 the Wednesday after that, and Email 3 the Wednesday after that. However, if Amber becomes a member of the engagement program six months from now, she will receive Email 1 the Wednesday after she joins the program, Email 2 the Wednesday after that, and so on. So, Email 1 could possibly be cast out every Wednesday, so long as someone entered the program in the previous 7 days. As such, Email 1 is lasting longer, and providing useful content across time, rather than in a one time batch-and-blast email deployment.
- Nurturing is for more than just prospects. Everyone in your database should be nurtured. Here are some example nurture tracks that you can set up to ensure all people in your database are being engaged by your company. Red Carpet Track (welcome) - Give new contacts the celebrity treatment by showing them how you can cater to their needs. These prospects might not know anything about your brand or solutions. Bring them up to speed with what you do, how you help companies like theirs, and who you are. In return, you’ll learn more about them. Boomerang Track (recycling) - When a marketing-qualified lead (MQL) is chucked by sales, it doesn’t have to be forever. If handled properly, some of these leads can fly right back to sales. First, make sure that rejected leads are segmented based on the reason for disqualification. If leads were rejected for reasons that can be fixed, like low interest or un-readiness to buy, place them in your boomerang track. Once you build interest through a targeted nurture program, you’ll throw them to sales. And this time, they won’t come back. Gopher Track (stay in touch) - Pop up in front of contacts from time to time and stay relevant, even if they aren’t ready to buy. With the gopher track, you can assure contacts that you have the best solutions. Send messages at a slow, but steady, pace. By staying relevant, you’ll increase the chance your prospect will buy from you in the future. .Gorilla Glue Track (retention) - Make your customers stick! Nothing adheres like Gorilla Glue...so glue customers to your solutions for the long run. This is your chance to show customers that you value their business. How? Send them tips, industry news, service updates, personalized messages, or feedback surveys. When renewal is on the horizon, send offers they can’t refuse. Baby, Come Back Track (win back) - Creating an emotional connection is a vital part of lead nurturing—if you lose touch, you’ve got to reignite the flame with content to spark their interest again. Sleeping Beauty Track (wake up) - Revive sleeping contacts. These folks were once interest in your products or services, but have been ignoring your content now for awhile. Put them in their own track to re-engage them. Even if only some of them come back, it could equate to thousands in revenue. Targeted content can warm up prospects, bring them back to life, and re-capture their interest. Once they’re active again, you can move them into a new track that fits their needs Detective Track (insufficient data) - Discover missing information about visitors to your website, webinar attendees, and content downloaders. Build systems that easily follow their trail: why they landed on your page, the content they viewed, and more. Send offers to get them “cookied” on your website. Ask them to submit forms that fill in the missing information you need to qualify them for sales. When you know more about them, you can segment them for additional nurture marketing.
- One question we often get asked here at Marketo is “How do I determine who to nurture first?”
- Effective nurturing is engaging. You want buyers to see value in the nurture communications and content that you create. To get to that place, there are four elements of engaging nurturing that your communications should posses. The first element is being trustworthy. Only with trust will buyers let your communications pass their filters and enter their lives. When creating your content, ask yourself these questions…
- Set expectations during an opt-in process, and then fulfill those expectations with every communication you share. Trusted communication has a lower bounce and unsubscribe rate across channels. Alternatively, if trust isn’t there, you’ll see lower engagement and conversion, and you’ll be more likely viewed as spam.
- The second element of engaging nurturing is having relevant content. Relevance means knowing who your audience is and what they want from your communication. Impersonal and poorly timed messages make your subscribers think, “you don’t know who I am. You don’t know what I want. You just don’t get me”. Being relevant means sending the right content to the right person at the right time. This includes: Talking to the right people Saying the right things at the right time Constantly improving In order to build relevance into your nurture program, you’ll need to segment and target your buyers. Buyers increasingly expect that when they share information with marketers, their data will be used wisely.
- Typically, you want to nurture leads based on where they are in their buyer’s journey. Content that is relevant to a lead that has just learned about your company is probably not relevant to a lead who is in the final stages of his decision making process. And remember, relevance is key! Top-of-the-Funnel (TOFU) - A person in the top-of-funnel phase is at the beginning of your sales and marketing cycle. She is aware of your product or service, but is not ready to buy. Individuals in the TOFU stage should be primarily offered educational materials. Example content offers include ebooks, blog posts, research data, funny videos, curated lists, infographics. Middle-of-the-Funnel (MOFU) – The middle-of-funnel phase occurs in the middle of your sales and marketing cycle. A person arrives here after he has displayed buying behavior, engaged with your content, and is potentially a sales lead. Your offers for MOFU leads are still educational, but they will be more geared towards your product or service. Example content offers include buying guides, RFP templates, ROI calculators, analyst reports. Bottom-of-the-Funnel (BOFU) – The bottom-of-funnel phase occurs at the bottom of your sales funnel, and indicates that your lead is close to becoming a customer. Your offers for BOFU leads are very specific to your product or service area in order to support the buyer during the purchase process. Example content offers include pricing, demos, 3rd party reviews, customer case studies
- Get away from the batch and blast mentality. Respect your recipients’ time. They will be hearing from your regularly. For example,
- Today’s buyers move seamlessly— and quickly—across channels. A typical buyer moves quickly from email, to social media, to your website and then back to social media, in the blink of an eye. Marketers not only need to prepare their lead nurturing strategy for multi-channel engagement, but also consider the device a buyer uses to access these channels for the best optimized and personal experience. Your buyer needs to see an integrated experience across every single channel.
- While many organizations start nurturing via sending emails only, we encourage you to expand your content to other types of channels. Here is an example of a Multi-Channel Lead Nurture Program focused on a CMO Buyer Persona. Based on buying behavior, you can adjust what content the CMO receives. As the CMO transitions through the funnel, you are able to engage the CMO further by offering relevant content through various channels, from emails to social media to sales calls.
- Remember that you can include programs nested within your engagement program. This allows you to communicate easily across channels and incorporate other marketing initiatives that you may already be doing.
- A strategic and impactful lead nurturing program will be measurable, so you will know the value of your marketing tactics and their impact on your organizations’ ROI. Defining the right sets of metrics is vital to achieve executive buy-in, adjust your nurture tracks, and report your success.
- Adding period costs will allow you to keep track of how much you’re spending on your engagement program over time. The key is to add additional costs as you acquire them so you get an accurate picture of how much your program is costing over time. Don’t simply add one cost and forget about the Setup tab in Marketo! Whenever you incur additional costs, add them to the program. That way, while you’re putting money into your initiative, you can also show the extent to which your program is influencing closed sales, helping to provide an accurate view of return on investment. Just like other programs, you’ll want to add at least one smart campaign to measure the success of your initiative. Think to yourself, what is the ultimate goal of this initiative? Is it to get someone to buy? To request a demo? To reach their lead score point threshold? Then setup a smart campaign to measure it. Here, we have an example of a member of an engagement program reaching 100 lead score points – the threshold for becoming MQL – and thus reaching the success status of Influenced in the program.
- The Marketo Engagement Score is a proprietary algorithm that our Data Science Team created to determine exactly how engaging each message is. It combines multiple data points—Clicks, Opens, Conversions, Unsubscribes, Program Successes, etc.— and then applies a statistical algorithm to create a single measure of engagement. Our Engagement Score provides a standard way to measure the engagement of your messages over time, not just as isolated standalone incidents. With this new level of measurement, you can now: • Fine-tune to improve the engagement of campaigns, continuously. • See how the changes you make improve engagement over time. • Test different messages and content streams against each other to find which are the most engaging.
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