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Mark LeVell covers the value of marketing automation and the 6 steps is takes to deliver success in you operation.
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Mark LeVell President 4Thought Marketing,
Specialists in Marketing Automation
Previous: Vice President Market2Lead Deep Marketing Automation Experience
Previous: Director MarketFirst Group Pivotal/CDC Software Responsible for all aspects of Software Division
Previous: President of TeleSell Sales Software for 14 years Directly managed 10s, Indirectly managed 100’s of projects
Why Marketing
Automation?
Why Marketing Automation
• Let me scare you… just a little bit
• Let me scare you just a bit more…
Why Marketing Automation
• High Risk… but huge rewards• The truth is… no choice• MA Experience? -Job Security• No MA? -Ultimate Career Failure
What is Marketing
Automation?
Digital Body
Language
Eloqua Best Practices: The Demand Lifecycle(TM) 8
Digital Body Language is about the Buyer’s Journey
Sales & Marketing Effectiveness Determine Volume and Velocity
Evaluate PurchaseJustifyInterest
NurturingPrograms
Within 24 months from target company or
competitor
Source: Sirius Decisions
• 60% of marketers believe that technology can help them develop more high-quality leads. (Forrester Research)
• Sales reps dedicate 14% of their time to lead development, but only 6.3% of leads are utilized (Sirius Decisions)
Why Nurture?
10
Plugging the Leak
Source: Forrester’s Best Practices: “Improving B2B Lead Management”
11
Why Nurture?
Today Buyers Find Sellers.
It’s now the “Buy Cycle” more than the “Sales Cycle”
Sales doesn’t want to.
Sales doesn’t have time.
Salespeople are expensive.
Your Corporate Database is a tremendous Asset
New Offer Workflow
Lead Scoring
What is Scoring?
Lead ScoringThe predictive ranking of one inbound response versus
another.
An automated scoring program is objective.
Example Score
Score Description Marketing Action
A4 The right prospect but no interest.
Priority but may need specific “why now”
messaging.
B1 Good fit and very interested.
Send to sales queue for follow-up.
C1 Not the idea prospect but very interested.
Will they ever be a good fit? Continue to nurture.
D4 Wrong Fit. No interest. Fulfill request and segment out.
Monitor Scoring Model Results
Route toEducation Nurturing
Program
Send to CRM
Route to Sales For immediate
follow-up
Send to CRM
Route to Sales for non-priority
follow-up
Fulfill request
Expressing Interest Aware of problem Plan to solve problem Desire specific solution
Low Cost/High Efficiency High Cost/Low Efficiency
Align Follow-Up with Lead Value
Lead Scoring Results
Case Study
MetricsBefore Lead
ScoringAfter Lead
ScoringDelta
Opportunities(qualified leads)
1,372 1,058* - 23%
Closed Deals 430 (31%) 433 (41%) 10%
Revenue Per Client
$16,842,950 $19,843,545 18%
Revenue Per Deal
$39,149 $45,863 17%
10 customer scoring programs analyzed
Closed Loop Reporting
Wanamaker’s Lament
“I know half the money
I spend on advertising is wasted, but I can never
find out which half.”
– John Wanamaker (1838-1922)
The Father of Modern Advertising
© 2011 Eloqua, Inc. Confidential 23
What is Closed-Loop Reporting?
Campaign Contact Opportunity Revenue
Return on Investment
Response
© 2011 Eloqua, Inc. Confidential 24
What: The Campaign Revenue Performance charts show your top and bottom performing campaigns in terms of your choice of metrics: closed won revenue, closed lost revenue, open revenue, ROI, etc.
Why: This chart can easily highlight where your top performing and bottom performing campaigns are so that you can make decisions on where to repeat campaigns that are driving the right results or restructure ones that are not.
Revenue Performance DashboardWhere are the bright spots in campaign performance?
© 2011 Eloqua, Inc. Confidential 25
Campaign Revenue PerformanceWhat is the revenue impact of my campaigns?
So What is Marketing Automation?
• Tracking Digital Body Language
• Nurturing Programs• Social Media Integration• Lead Scoring• Closed Loop Reporting
Success Step #1
Goes by Many Names
Success Step #1 :Goes By Many Names
• Set Reasonable Expectations
• Know your Plan• Don’t be an Island• Get Executive Buy-In
Develo
pm
ent
Launch
Tes t
ing
Desi
gn
Post
Launch
Support
ds Needs
Design
Development
SOW
Success Step #1 :Know & Communicate Your Plan
Success Step #2
Very TacticalBut Essential
Success Step #2 :CLEAN your freakin’ Data
Dirty Data• Ruins Metrics• Lowers Deliverability• Annoys Prospects• Kills Projects and Careers
Success Step #2 :CLEAN your freakin’ Data
• Get rid of Dup Contacts • And get rid of Dup Companies • Dump the ASDF• No engagement 6 Months? Gone!• Define your industries• Normalize your Titles
Success Step #3
Define your Pipeline
Success Step #3Define your Pipeline
• Define your terms.• Which depts get what, when?
• Define a qualified lead?• Get Agreement on when sales drops a lead
Success Step #4
Secure the Right Resources
Success Step #4Secure the Right Resources
• Secure Technical Resources
• Integration, Website, Programming
• Plan for Sufficient Content
• Remember your day job!
- Goes back to setting expectations
Success Step #5
Know Your Strategy
Success Step #5Know Your Strategy
• If your execs don’t have it… create it yourself!
• Identify your Target Market
• Know your Buyer Personas
• Collect Sufficient Data to Target
Success Step #6
Measure & Prove
Success Step #6Prove your success
• Goes Back to Closed Loop Reporting
• The beauty of marketing automation is you can prove that you’re successful
• Measurement will set you above your peers
© 2009 Portrait Software Strictly Portrait Software Confidential
McNamara’s Dictum
“We have to find a way of making the important
measurable, instead of making the
measurable important”
– Robert McNamara (1916 – 2009)
US Secretary of Defense
How to measure campaign success: Net Response?
SegmentNumber of Customers
Number of Responses
Response Rate %
Treated 1,000 250 25%Control 1,000 100 10%
Uplift 150 15%
Why did the chicken cross the road?
43
Historical inevitability: the
chicken was always going to cross the road
$100M marketing campaign promising that
the grass is greener on the other side!
With enough chickens (and a good control group!), an uplift model can tell us which chickens were influenced by marketing, and which had already made up
their minds.
Uplift segmentation for response
I am a
Sleeping
Dog
I am a Sure
Thing
I am a Lost
Cause
I am
Persuadabl
e!BuyDo nothing
If we do nothing,customer will:
Do nothing
Buy
If we target, customer will:
44
Summary
Marketing Automation Is…
Tracking Digital Body Language Nurturing Programs Social Media Integration Lead Scoring Closed Loop Reporting
Six Steps for MA Success
1. Engage Your Company
2. Clean Your Data
3. Define your Pipeline Processes
4. Secure The Right Resources
5. Measure and Prove your success
Marketing Automation6 Steps to Success
