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Marketo Secret Sauce: Modern Marketing Case Study

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Marketo Secret Sauce: Modern Marketing Case Study Shyna Zhang Sr. Product Marketing Manager


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What is the Marketo Secret Sauce?


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INFORMATION SCARCITY WE USED TO LIVE IN A WORLD OF


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ABUNDANCE INFORMATION


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Adaptive Marketer Image: Hugh Mac­Leod, www.gapingvoid.com


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BUY EVALUATE LEARN ENGAGE TRUST ENJOY BUY ADVOCATE RENEW VALUE USE OWN


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Name Awareness Friend Engaged Target Marketo’s Guided Journey: A Revenue Cycle TOFU MOFU Opportunity Customer Lead Sales Lead Nurturing Database BOFU


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Name Awareness Friend Engaged Target Opportunity Customer Lead Sales Lead Nurturing Database Marketo’s Guided Journey: A Revenue Cycle Drive customer success to keep and grow relationships


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Awareness Web Visitor A Marketo customer example In-person Appointment Customer Converted Engaged Nurturing Database Advocate Adopt Retain


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Why try to guide individual journeys? Because your marketing will appeal to more people Because your marketing will keep more people engaged Because your marketing will keep in touch with people even when they aren’t looking to buy Because your marketing will create more advocates


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Awareness and Top of Funnel


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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.


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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.


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Blog, e-books, research data, funny videos, curated lists, infographics, webinars NO YES MOSTLY NO Thought leadership and enjoyable content to build brand, awareness, and desire Tools that help buyers find you when they are looking for solutions Company-specific information to help evaluate and reaffirm selection Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports Pricing, demos, services information, 3rd party reviews, customer case studies Gated? Early Stage Middle Stage Late Stage


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Durable Relationships over Time


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BUY EVALUATE LEARN ENGAGE TRUST ENJOY BUY ADVOCATE RENEW VALUE USE OWN


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Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012. Buyer Led


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Purchase ready (Pass to sales) Source: RainToday 25% 50% 25% Need More Nurturing Disqualified


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Nurturing: Building durable relationships with prospects and customers over time through engaging conversations


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What isn’t an engaging conversation?


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When it comes to marketing, nobody wants to get blasted


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Marketing is NOT a gumball machine!


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What is an engaging conversation? Communications flow one to the next Listens and responds Relevant and meaningful


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More Targeted Emails are More Relevant Source: 100s of Marketo campaigns


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1. BUYING STAGES Early: Be a Better Marketer Mid: Why Marketing Automation Late: Why Marketo Customer: Success 2. BUYING PROFILES B2B Marketing Consumer Marketing Sales


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1. BUYING STAGES Early: Mortgage Considerations Mid: Why Now? Late: Why Us 2. BUYING PROFILES First-time Home Buyer Re-financer Home Underwater


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Behavioral Targeting for Maximum Relevance: Topic of Interest Triggers Attends event Downloads content Click email Fills out form Score is changed Email Social Content Technology


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Scoring People and Managing Leads


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Scoring Defined Fit Interest Lifecycle Stage “Methodology for ranking people in order to determine their readiness to buy” Nurture Disqualify Nurture Pass to Sales Send right offer


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Early stage content +3 Attend webinar: +5 Visit any webpage / blog : +1 Visit careers pages: -10 Decay inactivity: -1, -5, -10 Discovery Behaviors Pricing pages: +10 Watch demos: +5 overview +10 detailed Mid-stage content +8 Late-stage content +12 Searches for branded keyword “Marketo” +8 Buying Behaviors Get The “Definitive Guide to Lead Scoring” http://marketo.com/DG2LS


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Stars and Flames show priority Full list of Interesting Moments


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The Customer Lifecycle


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BUY EVALUATE LEARN ENGAGE TRUST ENJOY BUY ADVOCATE RENEW VALUE USE OWN


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Customer Nurture Streams


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X-S Scoring Based on Product Interest (PIS)


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Revenue Analytics


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Why Measuring Return is Hard Multiple touches. Seven touches needed to convert a first time visitor into a sale Unclear success. Measuring campaign success is easy. But what about real success? Multiple influencers. A B2B buying committee has 5-21 people


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Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle TOFU MOFU Opportunity Customer Lead Sales Lead Nurturing Database BOFU


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Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics


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Customer Revenue Cycle Screenshot: Marketo Revenue Cycle Analytics


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Screenshot: Marketo Revenue Cycle Analytics


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Use Metrics to Set & Justify Budgets New MQLs Score>100 23,000 15.3% Inventory of Active MQLs 10.5% 20,000 New Opps* 1,000 6 Month Created Opp Inv. 2,000 270 *Opps is bigger than SQLs because includes outbound and partner referrals SDR capacity driven Inbound / Programs 120,000 (900K DB Total) New Names 75% Wins 35% win


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Use Metrics to Set & Justify Budgets Engaged Trials 1,500 9.5% Inventory of Active Trials 5% 2,500 Engaged Customers 100 Engaged Customer Inventory 5,000 270 SDR capacity driven Web Visitors 1,000,000 New Names 90% Renewals 90%


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Tweetable Takeaways The way buyers buy has changed forever – the way we market and sell must change as well Marketers must take control and guide each person through a successful journey Most people are not “ready to buy” – nurture relationships over time Use analytics to turn marketing from a cost center into a revenue driver Think big, start small, move quickly #MKTG NATION14


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When marketers guide the journey… More people aware & engaged Moving faster through their journey Advocating for your products & services And you can prove it


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szhang@marketo.com


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Triggered Business-as-Usual Epsilon March 2013 US Email Benchmark Report


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Relevance Get the “Definitive Guide to Lead Nurturing” marketo.com/DG2LN


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Exposed to us via content, brand, or word of mouth


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Feels a relationship and trust with us


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Names are just names.


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Meaningful interaction with us


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Nurture until ready for next step Qualified potential customer


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Qualified as sales-ready by SDR


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Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Accepted and actively worked by sales: marketing quota attainment


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For visitors in B2C industries


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For companies using competitive solutions


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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. But we also use a Portfolio of programs


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J U N E DATE:


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Sales doesn’t want names – they want “Win Ready” leads @jonmiller


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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Average days to Opportunity: 327 days


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Dynamic Content Industry, Geography, Company Size, Customer vs. Prospect, etc.


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Short (5) Conversion: 13.4% Cost per: $31.24 Medium (7) Conversion: 12.0% Cost per: $34.94 Long (9) Conversion: 10.0% Cost per: $41.90


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No Lead Left Behind: Service Level Agreements


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Sample Filters from Gainsight


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Example: Multi-Touch Attribution A deal worth $100,000 recently closed. Three people were involved in the deal: Person A attended Seminar A and Trade Show B Person B attended Trade Show B Person C was sent Direct Mail C $100,000 Revenue $25,000 $25,000 $25,000 $25,000 Seminar A $25,000 Tradeshow B $50,000 Direct Mail C $25,000


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Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5


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Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 Inbound + Nurture = 58% of (MT) Pipeline Paid Programs = 42% of (MT) Pipeline


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Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 (MT) Ratio = Pipeline / Investment >10 is Great and <5 is Fail Sponsored Email = 12.8, Tradeshow = 10.6, PPC = 13.0, Webinars = 25.4, Field Events = 6.6, Content Syndication 7.7


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Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 % Programs with MT Ratio > 5 e.g. Tradeshow has good average but 49% programs “fail”


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Tweetable Takeaways The way buyers buy has changed forever – the way we market and sell must change as well Define the stages of the revenue cycle cycle, in alignment with sales Most leads are not “sales ready” – nurture relationships over time, use online body language to score leads Use analytics to turn marketing from a cost center into a revenue driver Think big, start small, move quickly #MKTG NATION14


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Engagement & Intent One Way to “Marketing Qualify” Fit


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Accurately Tracking “Investment” vs Budget


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Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics


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Gainsight for Customer Success Acme


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Marketing Forecasts Get The “Definitive Guide to Marketing Metrics & ROI” http://marketo.com/DG2MM


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