Download - Smarter Marketing for Better Results: Marketo's "Secret Sauce" Case Study - Michael Berger
Smarter Marketing for Better ResultsMarketo’s “Secret Sauce” Case Study
Michael BergerDirector, Product MarketingMarketo
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INFORMATION SCARCITY
WE USED TO LIVE IN A WORLD OF
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ABUNDANCEINFORMATION
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Changing buyer
Need carGather
information
Evaluate options
Buying decision Purchase
MARKETING SALES
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Changing buyer
Need carGather
information
Evaluate options
Buying decision Purchase
MARKETING SALES
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Changing buyer
Need carGather
information
Evaluate options
Buying decision Purchase
MARKETING SALES
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Changing buyer
MARKETING
Need carGather
information
Evaluate options PurchaseBuying
decision
SALES
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Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012.
Degree of Progress Through Purchase ProcessBefore Engaging Sales
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etTOFU MOFU
Opportunity Customer
Lead
Sale
s Le
ad
Nurturing Database
BOFU
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Opportunity Customer
Lead
Sale
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Nurturing Database
Exposed to us via content, brand, or word of mouth
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Opportunity Customer
Lead
Sale
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Nurturing Database
Feels a relationship and trust with us
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Opportunity Customer
Lead
Sale
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Nurturing Database
Names are just names
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Opportunity Customer
Lead
Sale
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Nurturing Database
Meaningful interaction with us
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Opportunity Customer
Lead
Sale
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Nurturing Database
Nurture until ready for next step
Qualified potential customer
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Opportunity Customer
Lead
Sale
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Nurturing Database
Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out
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Opportunity Customer
Lead
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Nurturing Database
Qualified as sales-ready by Sales Development Rep (SDR)
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Opportunity Customer
Lead
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Nurturing Database
Accepted and actively worked by sales:marketing quota attainment
Top of the Funnel
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Rent vs. Own
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Blog, e-books, research data, funny videos, curated lists, infographics, webinars
NO
YES
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 StageMOSTLY
NO
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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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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Inbound creates the best leads by far: high conversion, high velocity
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Customized messaging for visitors who use other marketing automation
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For visitors in B2C industries
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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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Sponsored Email builds the database, but low conversion
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Webinar, tradeshow, PPC, and virtual tradeshow are top paid TOFU
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Paid Social & Display Ad drive brand and amplify inbound as well
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Sales doesn’t want
names – they want
“Win Ready” leads
Middle of the Funnel
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Sales Ready
Source: RainToday
25%
50%
25%
2%
Need More Nurturing
Disqualified
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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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Lead Nurturing: Building relationships with
qualified prospects regardless of their timing to buy
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RelevanceGet the “Definitive Guide to Lead Nurturing”
marketo.com/DG2LN
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More Targeted Emails are More Relevant
100 1000 10000 1000000
50
100
150
200
250
300
350
400
Email Send Size
Enga
gem
ent S
core
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• Marketing, Sales, Exec
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Dynamic Content
Industry, Geography, Company Size, Customer
vs. Prospect, etc.
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The Key to Relevance is Behavioral TargetingTop Tactics to Increase Email Engagement
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Example: Topic of Interest Triggers
• Attends event• Downloads content• Click email• Fills out form• Score is changed
Social
Content
MS CRM
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Standard Nurture Triggered Interests Lift
Open % 21.7% Open % 34.0% 57%
Click to Open % 23.4% Click to Open % 37.1% 59%
Click % 5.1% Click % 12.6% 147%
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Batch
Triggered
Epsilon Q4 2013
North America Email Trend
Results
Scoring and Lead Management
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Lead Scoring Defined
Fit Interest Buying Stage
“Shared sales and marketing methodology for ranking leads in order to determine their sales readiness”
Nurture DisqualifyNurturePass to Sales Pass to Sales
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Demographic “Fit” Score
Positive Demographic Score• e.g., Marketing Manager title, known CRM customer,
known competitive solution customer
Negative Demographic Score• e.g., Generic email address, illegitimate phone number,
non-existent company (unemployed, self, looking)
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Hidden Fields
Form Completion for Data Augmentation
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• Click email: +1• Visit webpage / blog: +1• Early stage content +3• Attend webinar: +5• Decay inactivity:
-1, -5, -10
Latent Behaviors (Engagement)
• Free trial or Contact request: +15• Pricing pages: +10 • Demos: +10• Late-stage content +12• Searches for branded keyword
“Marketo” +8
Active Behaviors(Buying Intent)
Get the “Definitive Guide to Lead Scoring”marketo.com/DG2LS
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One Way to Identify Marketing Qualified Leads
A Lead Lead Lead
B Lead Lead
C Lead
D4 3 2 1
Fit
Behaviors
Stars and Flames show priority
Full list of Interesting Moments
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No Lead Left Behind: 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
Revenue Analytics
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Why Measuring Return is Hard
• Multiple touches. Seven touches needed to convert a cold lead into a sale
• Multiple influencers.Typical buying committee has 5-21 people
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Track All Touches Across People
Screenshot: Marketo Revenue Cycle Analytics
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Track All Touches Across People
Screenshot: Marketo Revenue Cycle Analytics
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Example: Multi-Touch AttributionA deal worth $100,000 recently closed. Three people were involved in the deal:
• Moe attended Webinar and Tradeshow• Larry attended Tradeshow• Curly responded to Direct Mail
$100,000 Revenue
$25,000 $25,000 $25,000 $25,000
Webinar$25,000
Tradeshow$50,000
Direct Mail$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) PipelinePaid 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 FailSponsored 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 > 5e.g. Tradeshow has good average
but 49% programs “fail”
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BOFU
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Revenue Cycle Modeler
Screenshot: Marketo Revenue Cycle Analytics
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Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc.
Key topic areas:• Balance (Reach)• Flow• Conversion• Velocity
Trends over time
Screenshot: Marketo Revenue Cycle Analytics
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Use Metrics to Set & Justify Budgets
New TargetsNew MQLsScore>100
23,000
Inventory of Active MQLs
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
Inb
ou
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/ P
rog
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120K(900K DB Total)
New Names
New SQLs
922
Win
s
Inventory Of Active Targets
60,000
131,000
15.3%
10.5%
2.4%
1.9%
75%35%
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Get the “Definitive Guide to Marketing Metrics & ROI”marketo.com/DG2MM
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Tweetable Takeaways1. The way buyers buy has changed forever – the way we
market and sell must change as well
2. Define the stages of the buying cycle, in alignment with sales
3. Map content and marketing to the buyer’s journey: early, mid, late stage
4. Most leads are not “sales ready” – nurture relationships over time, use online body language to score leads
5. Use analytics to turn marketing from a cost center into a revenue driver
@mikedberger