Mark LeVell covers the value of marketing automation and the 6 steps is takes to deliver success in you operation.
- 1.Marketing Automation6 Steps to SuccessMark LeVell, PresidentMLeVell@4ThoughtMarketing.com
2. Mark LeVell President 4Thought Marketing, Specialists in Marketing AutomationPrevious: Vice President Market2Lead Deep Marketing Automation ExperiencePrevious: Director MarketFirst Group Pivotal/CDC Software Responsible for all aspects of Software DivisionPrevious: President of TeleSell Sales Software for 14 years Directly managed 10s, Indirectly managed 100s of projectsMLeVell@4ThoughtMarketing.com 3. Why MarketingAutomation? 4. Why Marketing Automation Let me scare you just a little bit Let me scare you just a bit more 5. Why Marketing Automation High Risk but huge rewards The truth is no choice MA Experience? -Job Security No MA? -Ultimate Career Failure 6. What is MarketingAutomation? 7. Digital Body Language 8. Digital Body Language is aboutthe Buyers JourneyInterest Evaluate Justify PurchaseSales & Marketing Effectiveness Determine Volume and VelocityEloqua Best Practices: The Demand 8Lifecycle(TM) 9. NurturingPrograms 10. Why Nurture?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)Source: Sirius Decisions Within 24 months from target company or competitor10 11. Plugging the LeakSource: Forresters Best Practices: Improving B2B Lead Management11 12. Why Nurture? Today Buyers Find Sellers. Its now the Buy Cycle more than the Sales Cycle Sales doesnt want to. Sales doesnt have time. Salespeople are expensive. Your Corporate Database is a tremendous Asset 13. New Offer Workflow 14. LeadScoring 15. What is Scoring? Lead Scoring The predictive ranking of one inboundresponse versus another. An automated scoring program isobjective. 16. Example ScoreScoreDescription Marketing Action Priority but may needThe right prospect but A4 specific why nowno interest.messaging.Good fit and very Send to sales queue for B1interested. follow-up.Not the idea prospect Will they ever be a good C1 but very interested. fit? Continue to nurture. Fulfill request and D4 Wrong Fit. No interest. segment out. 17. Monitor Scoring Model Results 18. Align Follow-Up with Lead ValueExpressing InterestAware of problem Plan to solve problem Desire specific solution Send toSend toCRMCRM Route toRoute to SalesRoute to Sales Fulfill request For immediateEducation Nurturingfor non-priority Program follow-up follow-up Low Cost/High Efficiency High Cost/Low Efficiency 19. Lead Scoring Results 20. Case Study10 customer scoring programs analyzedBefore Lead After LeadMetricsDeltaScoringScoring Opportunities 1,3721,058* - 23%(qualified leads) Closed Deals430 (31%)433 (41%)10% Revenue Per$16,842,950 $19,843,54518%Client Revenue Per$39,149$45,863 17%Deal 21. Closed Loop Reporting 22. Wanamakers Lament I know half the moneyI spend on advertising is wasted, but I can neverfind out which half. John Wanamaker (1838-1922) The Father of Modern Advertising 23. What is Closed-Loop Reporting?Campaign Contact ResponseOpportunity RevenueReturn on Investment 23 2011 Eloqua, Inc. Confidential 24. Revenue Performance DashboardWhere are the bright spots in campaign performance?What: The Campaign RevenuePerformance charts show yourtop and bottom performingcampaigns in terms of yourchoice of metrics: closed wonrevenue, closed lost revenue,open revenue, ROI, etc.Why: This chart can easilyhighlight where your topperforming and bottomperforming campaigns are sothat you can make decisions onwhere to repeat campaigns thatare driving the right results orrestructure ones that are not.24 2011 Eloqua, Inc. Confidential 25. Campaign Revenue PerformanceWhat is the revenue impact of my campaigns?25 2011 Eloqua, Inc. Confidential 26. So What is Marketing Automation? Tracking Digital Body Language Nurturing Programs Social Media Integration Lead Scoring Closed Loop Reporting 27. Success Step #1 Goes by Many Names 28. Success Step #1 :Goes By Many Names Set Reasonable Expectations Know your Plan Dont be an Island Get Executive Buy-In 29. Success Step #1 :Know & CommunicateYour Plan DevelopmentNeeds 30. Success Step #2 Very Tactical But Essential 31. Success Step #2 :CLEAN your freakin DataDirty Data Ruins Metrics Lowers Deliverability Annoys Prospects Kills Projects and Careers 32. 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 33. Success Step #3Define your Pipeline 34. Success Step #3Define your Pipeline Define your terms. Which depts get what, when? Define a qualified lead? Get Agreement on whensales drops a lead 35. Success Step #4 Secure theRight Resources 36. 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 37. Success Step #5Know Your Strategy 38. Success Step #5Know Your Strategy If your execs dont have it create it yourself! Identify your Target Market Know your Buyer Personas Collect Sufficient Data to Target 39. Success Step #6 Measure & Prove 40. Success Step #6Prove your success Goes Back to Closed Loop Reporting The beauty of marketing automation is you can prove that youre successful Measurement will set you above your peers 41. McNamaras 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 2009 Portrait Software Strictly Portrait Software Confidential 42. How to measure campaign success:Net Response? Number of Number of Response Segment Customers Responses Rate % Treated 1,000 25025% Control 1,000 10010% Uplift15015% 43. Why did the chicken cross the road? $100M marketingcampaign promising that the grass is greener on the other side! Historicalinevitability: thechicken wasalways going to cross the roadWith 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 theirminds.43 44. Uplift segmentation for responseIf we target, customer will: BuyIf we do nothing,customer will: Do nothingBuy Do nothing44 45. Summary 46. Marketing Automation Is Tracking Digital Body Language Nurturing Programs Social Media Integration Lead Scoring Closed Loop Reporting 47. Six Steps for MA Success1. Engage Your Company2. Clean Your Data3. Define your Pipeline Processes4. Secure The Right Resources5. Measure and Prove your success 48. MarketingAutomation 6 Steps toSuccess