how to market and measure like marketo

Chandar Pattabhiram VP Product & Corporate Marketing @chandarp

October 16, 2014

Market and Measure Like Marketo: Seven Secrets of Marketo’s Success

© 2014 Marketo, Inc.

Marketo Proprietary and Confidential

The Quest of Every Organization

YOUR CUSTOMERS

2900 Marketing messages per day vying for your customer’s attention2

But Today’s Digital World has Made it Hard

1. Sirius Decisions 2. Forrester 3. Marketing Sherpas

90% Of a customer’s journey today is self directed1



Page 4 © 2014 Marketo, Inc. #mktgna7on14 @chandarp

Changing buyer

Need car Gather informa7on

Evaluate op7ons

Buying decision Purchase

MARKETING SALES




Changing buyer


Evaluate op7ons

Buying decision Purchase

MARKETING SALES




Changing buyer

MARKETING


Evaluate op7ons Purchase

Buying decision

SALES



2900 Marketing messages per day vying for your customer’s attention2

But Today’s Digital World has Made it Hard

1. Sirius Decisions 2. Forrester 3. Marketing Sherpas

90% Of a customer’s journey today is self directed1

50% of all purchasing decisions are influenced by third-parties3

Marketing is transforming itself and becoming the steward of

their customer journeys



The New Rules of Engagement Marketing From talking at people to building meaningful & personalized relationships

FROM TO

Mass communications Engaging people as individuals

Using point in time campaigns Continuous conversations

With unclear objectives Always directed towards an

outcome

Disconnected operations At speed of digital

Guess-work and habit With measurable impact

Based on who they are Based on what they do

Isolated, few channels Wherever they are

So, how has Marketo put these to work?



Nam

e

Awaren

ess

Friend

Engaged

Target

Marketo’s Guided Journey: A Revenue Cycle

TOFU MOFU

Opportunity Customer Lead

Sales

Lead

Nurturing Database

BOFU



Nam

e

Awaren

ess

Friend

Engaged

Target Opportunity Customer Le

ad

Sales L

ead

Nurturing Database

Retain

Advocate

Enable Adopt


Drive customer success to keep and grow relationships



Page 13 © 2014 Marketo, Inc. #mktgna7on14 @mikedberger

Awaren

ess

Web

Visito

r

In-‐person Appointment Customer

Converted

Engaged

Nurturing Database

Advocate

Adopt

Retain

Marketo Customer’s B2C Buyer’s Journey




Rent vs. Own



Blog, e-‐books, research data, funny videos, curated lists, infographics, webinars

NO

YES

Build the brand

Help buyers find you when they are looking for solu7ons

Help buyers evaluate or reaffirm selec7on

Buying guides, RFP templates, ROI calculators, defini7ve guides, analyst reports

Pricing, demos, services informa7on, 3rd party reviews, customer case studies

Gated? Early Stage

Middle Stage

Late Stage

NO




Rent vs. Own



Source: Marketo data, Marketo Revenue Cycle Analy6cs. Does not include all sources.

Engaging People -

As individuals, Based on what they do, Continuously over time



Nam

e

Awaren

ess

Friend

Engaged

Target


TOFU MOFU


Sales

Lead

Nurturing Database

BOFU



Relevance



What isn’t an engaging conversation?



When it comes to markeOng, nobody wants to get blasted -‐ @chandarp



Known

Anonymous




For visitors in B2C industries



Nam

e

Awaren

ess

Friend

Engaged

Target


TOFU MOFU


Sales

Lead

Nurturing Database

BOFU



Sales doesn’t

want

names – they wa

nt

“Win Ready” lea

ds

@chandarp




Nurturing:

Building relationships people over time through engaging

conversation



Ready to Buy

Source: RainToday

Need More Nurturing

Disqualified

Source: Marketo data, Marketo Revenue Cycle Analy6cs. Does not include all sources.

327 Days on Average



The Key to Relevance is Behavioral TargeOng Top TacOcs to Increase Email Engagement



Behavioral Targeting for Maximum Relevance: Topic of Interest Triggers

•  AZends event •  Downloads content •  Click email •  Fills out form •  Score is changed

Email

Social

Content

Technology



Standard Nurture Triggered Interests LiY

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%

Engaging People – Always directed towards an

outcome



Nam

e

Awaren

ess

Friend

Engaged

Target


TOFU MOFU


Sales

Lead

Nurturing Database

BOFU



Lead Scoring Defined “Shared sales and markeOng methodology for ranking leads in order to determine their sales readiness”

Score > 100, Pass to Sales

Fit Behaviors Buying Intent

E.g. Buyer profile E.g. Afend webinars, download whitepaper

E.g. Pricing page, demos, contact request, etc.

I love you You love me Ready to be part of happy family

Stars and Flames show priority

Full list of Interesting Moments

No Lead Left Behind: Service Level Agreements

Day 0 NoOficaOon

Day 1 If untouched, reminder

Day 2 If untouched, reminder cc boss

Day 3 If untouched, alert execuOves



Marketo Customer’s Journey: A Revenue Cycle

Drive customer success to keep and grow relationships

Retain Advocate

Enable Retain

The probability of selling to a new prospect is 5-20%.

– Marketing Metrics

It costs 6–7 times more to acquire a new customer than retain an existing one

– Bain & Company

The probability of selling to an existing customer is 60 – 70%.

– Marketing Metrics

Yet Global Marketing Spend Is Only 12% of the Overall Marketing Budget

Nurturing Provides A Cost Effective Way to Retain, X-Sell and Upsell Customers

Engaging people - At the speed of digital




Leads to wasted cycles and poorly-timed communications

Traditional options: Disconnected & Out of Sync

Engaging People –

With measurable impact



The “Revenue Table”



Why Measuring Return is Hard

•  Multiple touches. 7

•  Unclear success.

Responded

•  Multiple influencers. 5-21

Track Touches Across People

Screenshot: Marketo Revenue Cycle Analytics

Track Touches Across All People

Screenshot: Marketo Revenue Cycle Analytics



Source: Marketo Revenue Cycle Analy6cs, Apr 2014 * Percentage of all programs in channel that achieve MT Ra6o > 5



“Half the money I spend on adver9sing is wasted. The trouble is I don’t know which half.”

-‐ John Wannamaker Father of mother adverOsing and pioneer in markeOng



Source: Marketo Revenue Cycle Analy6cs, 2014 * Percentage of all programs in channel that achieve MT Ra6o > 5

Half of our channels are working. Half are not.



Source: Marketo Revenue Cycle Analy6cs, 2014 * Percentage of all programs in channel that achieve MT Ra6o > 5

Half our Tradeshows are working. Half are not.

Engaging People:

Summary

Engagement Marketing

•  As individuals

•  Based on what they do

•  Continuously over time

•  Wherever they are

•  Always directed towards an outcome

•  At speed of digital

•  With measurable impact

Chandar Pattabhiram VP Product & Corporate Marketing @chandarp

October 16, 2014

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