Penetrating Industries with an Integrated Sales and Marketing Strategy
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The document provides guidance on developing an integrated sales and marketing strategy to target specific industry segments. It recommends conducting market research to understand customer profiles and needs within segments. It also suggests collaborating across teams to align on definitions and metrics, and developing programs across the sales funnel from top-of-funnel awareness campaigns to bottom-of-funnel pipeline acceleration. The document outlines challenges that may arise and potential solutions such as flexibility for strategy changes and focus on building an initial subscriber base before extensive nurturing.
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Penetrating Industries with an Integrated Sales and Marketing Strategy
- 1. Penetrating Industries with an Integrated Sales & Marketing Strategy Graham Gallivan Sr. Manager, Marketing Marketo @grahamgallivan Vyoma Kapur Sr. Manager, Marketing Marketo @vioma
- 2. Effective targeting Greater engagement Greater pipeline Why Market to Industry Segments?
- 3. What We’ll Cover Market Research Getting Set Up Kickstart Your DG Engine Tracking & Measurement Challenges & Solutions
- 4. Market Research Discovering the right markets and the right buyers
- 5. Look inside your database! • No. of deals, total bookings & current pipeline • Deal sizes (avg. ARR) and close rates • Key questions to ask: • Are customers happy and referenceable? • What’s the churn rate? • How was the sales cycle? • What marketing campaigns did they interact with? • What are they using the product for? Analyze Industry Segments
- 6. • Common use case(s) in each segment • Key problem your product is solving • Product features (most vs. least used) • Translate features to benefits Establish Product-Market Fit
- 7. • Landscape: key historical & current trends • Barriers: competition & other factors • Key players: established partners to leverage for credibility • Account Universe: all accounts in the segment • Total addressable market (TAM): potential scale for the industry segment • Penetration: % of the market you own Understand & Define the Market Account Universe Total addressable market Penetrated market
- 8. Identify Your Personas Role in purchase process Function/department Seniority level/titles Challenges/pain points Key drivers Sources of information Buyer / Decision maker User / Influencer Complex: Multiple personas may exist in large cos Diverse: Personas can differ across industries Changing: Keep personas up-to-date!
- 9. Getting Set Up Partnering with teams & operationalizing the strategy
- 10. Collaborate Across Your Org • Product Marketing • Sales • Solutions Consulting • MOPS/SOPS • Partner Team Exec buy-in is critical!
- 11. Partner w/ Product Marketing • Persona development • Messaging • Customer success stories • Sales enablement tools
- 12. Product Marketing: Sales Enablement • Value propositions • Call scripts • Sales emails • Special SFDC views
- 13. • Recurring sync meetings • Open feedback loop • Agreed upon definitions • SLAs Sales & Marketing alignment is NOT a myth! Align w/ Sales
- 14. Sales: Agree on Definitions • How do you define a MQL, SQL, opportunity? • What does your C-suite care about? • What is the agreed upon time period to measure? That’s not how I define an opportunity.
- 15. Sales: Service Level Agreements Day 0 Notification Day 1 If untouched, reminder Day 2 If untouched, reminder cc boss Day 3 If untouched, alert executives Day 7 If stale, reminder Day 8 If stale, reminder cc boss Day 9 If stale, alert executives
- 16. Partner w/ MOPS & SOPS • Account identification & tagging • Data integrity • Scoring • Lead routing • Analytics and tracking Clean up your systems for success!
- 17. Kickstart Your DG Engine Developing & executing programs across the funnel
- 18. Objectives Across the Funnel Top-Funnel • Generating interest and expanding the database Mid-Funnel • Nurturing leads down the funnel Bottom- Funnel • Creating and accelerating pipeline
- 20. Tradeshows • Targeting methodologies • Large shows with general roles & content • Niche shows with a specific audience • Sponsorship: • Speaking session/panel • Booth with raffle and demos • Results: • New names: 267 • Pipeline: $176k • Pipeline to cost ratio: 12x
- 21. • Targeting methodologies • Native industry targeting (LinkedIn, Facebook) • Marketo AdBridge, multi-factor matching • Retargeting • Types of content: • Success kits • Ebooks • Results • Click-thru-rate: 0.83% (avg: 0.5%) • Conversion rate: 13% (avg: 8%) Digital Advertising
- 22. • Targeting methodologies • Vertical-specific: all subscribers • Broad: target by industry parameters • Broad: target by @domain names (ABM) • Types of content • Reports • Whitepapers • Results • New names: 342 • Pipeline: $107k • Pipeline to cost ratio: 10x Content Syndication
- 23. Web Personalization DEFAULT PERSONALIZED Result: 59% lift in conversion rate! (43% vs. 27%)
- 25. • Videos • Industry reports • Webinars • SlideShares • ebooks • Blogs • Podcasts • Infographics Content: More w/ Less
- 26. Curate Across Channels • Webinars • Late-stage emails • Appointment setting • Nurture
- 27. Webinar Series: Financial Services 3-part series run during 2016 market volatility • Client Retention in Volatile Times • Acquire Clients During • Marketing Analytics to Prove ROI 4 Opps, $1mm in sales pipeline
- 28. Sales Meeting Accelerator: Technology Drive meeting activity for sales with high scoring leads 3 Opps, $73k+ in sales pipeline
- 29. Appointment Setting • Acceleration • Supplement your funnel! • Accounts • Partner with sales to finalize the list • Process • Clarify logistics and SLAs Magnify your efforts with proven partners!
- 30. Nurture Streams Engagement Programs Priority 1 C-Level Verticals Competitors Priority 2 Enterprise SMB • Don’t reinvent the wheel! • Establish priority • Diversify with sub-streams
- 31. Nurture Example: Healthcare Providers
- 33. Personalized Assessments Deploy online survey • Online survey deployed to prospects via email • Prospects respond to questions on marketing maturity etc. Gather & analyze data • Group respondents based on likelihood to buy • Rank groupings from “hot prospects” to “cold prospects” Package offers with VC team • Outreach to top groups with consultation services • Create a benchmark report!
- 34. Field Events • Small executive events with customers, prospects and potentially partners • Platform for sales to accelerate opps • Leverage SDRs to drive registrations by providing: • Email templates (Marketo Sales Insight) • Unsubscribed contact lists
- 35. Customer Success Stories • Leverage customer stories beyond email & nurture programs: • Late-stage webinars • Onsites • Direct mail
- 36. Tracking & Measurement Metrics for each stage & reporting
- 37. Early Mid Late Know What To Measure When
- 38. Early Know What To Measure When Metric: new vertical names generated Late Metric: vertical opps generated Mid Metric: vertical meetings scheduled
- 39. Know TOFU vs MOFU Effectiveness Channel FT Revenue MT Revenue Content $310,000 $525,000 Webinars $320,000 $903,000 Tradeshows $425,000 $117,000 More efficient at pushing leads through funnel More efficient at acquiring the right leads
- 40. Track All Touches Across All People
- 41. Challenges & Solutions Common pitfalls and how to overcome them
- 42. Challenges: • Re-prioritization of key verticals • Difficulty in committing to certain programs e.g. tradeshows • Mis-identification of buyers or decision-makers Solutions: • Anticipate these changes! • Be agile and nimble- bake in flexibility • Adopt a “rinse and repeat” approach Changes in Strategy
- 43. Limited Impact Challenges: • Small database of subscribers in key verticals • Limited impact/output for the same level of input Solutions: • Set expectations early with internal stakeholders • Leverage partners that are strong in key segments • Focus on building database before nurturing it
- 44. Ramp-up Required Challenges: • Understanding complexities and nuances of each segment • Certain segments are not “intuitive” e.g. Manufacturing • Pressure to deliver before content and material is available Solutions: • Find publications that buyers read • Have direct conversations with buyers/do interviews • Repurpose generic content for DG
- 45. Other Industry Segments… …that we plan to conquer
- 49. Space Tourism
- 50. Thank You! Do they know we were joking? I sure hope so!
Notas do Editor
- Last example - web personalization product to do this Landing page for a premium piece of content- DG2SMM. Left is default Right one is personalized to financial services. The beauty of website personalization is - target known and anonymous users by IP addresses. As many as 98% of site traffic can be unknown And in addition to demographic matching, there is also the ability to behaviorally target those who visit our FSI pages. In this case, lift in conversion rate Can be powerful
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- Qns How do you define critical mass? it depends on how you’ve defined your account universe or your tam. If it’s a main vertical like healthcare critical mass could be in the tens of thousands range. If it’s a sub vertical like payers or providers, it could be in the thousands range. There are multiple other factors at play- also what departments are u targeting- if you’re target marketers for example, u might have a lower threshold for critical mass than say sales, because typically there are fewer marketers than salespeople in orgs. How do you get your account universe. Purchase a list of accounts in addition to the ones you already have in your CRM. Multiple vendors that offer those kinds of services and you can work provide them with the eact parameters you have, upload accounts in ur CRM and tag them accordingly. What publications or vendors do you work with? A good source of info is your buyers and customers themselves. You can gather this info in your research phase when you’re interviewing them. If you find certain names that keep coming up, you might want to look into advertising there. How long did it take you to see success It does take a few months to research and get set up, and we did some demand gen programs in parallel as well. If you define success as pipeline, then it takes as much as marketing to any other segment What kind of optimization do u do? Ads- copy, actual offers, images Email- SL testing