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  • MARKETING AUTOMATION PLAYBOOK 2014

    © Madison Logic. 2014

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    EXECUTIVE SUMMARY

    Marketing Automation has gotten a lot of recognition lately and for the right reasons. Marketers should be asking themselves, “Do we implement a Marketing Automation system? And how do we get the staggering results that others are seeing?” Madison Logic has put together this whitepaper to get marketers thinking about the history of Marketing Automation, the key components, and what you could be doing to improve your existing sales process. Marketing Automation as a technology has revolutionized the sales cycle and has changed how marketers think about existing and new customers.

    This paper can be used as a guide for companies considering implementing Marketing Automation or for those that wish to improve upon their existing platform. You will receive information about the market leaders and what components should be most important to your organization. Furthermore, with the following best practice tips, you will see how the right system for your organization will help you scale your business and increase your overall revenue.

    TABLE OF CONTENTS

    1. History of Marketing Automation

    2. Marketing Automation by the Numbers

    3. Key Players in Marketing Automation

    4. Key Components of Marketing Automation

    5. Where Marketing Automation Comes Up Short

    6. Solutions

    7. Conclusion

  • © Madison Logic. 2014 3

    Marketing Automation Playbook

    3

    MARKETING AUTOMATION PLAYBOOK 2014

    Modern marketing has been around since the early 20th century, focusing on print media to reach a wide audience. Shortly after, the telephone, television, and radio were invented, and marketers slowly began utilizing these channels for the same purposes as print media. However, telephone, television, and radio could only reach a limited audience — those who could afford such a luxury. With the introduction of the Internet, the world of marketing quickly changed and new technologies were introduced. With the Internet came new forms of marketing, including Email Marketing in the late 1990s, Search Engine Optimization (SEO) in 1995, and eventually Marketing Automation in the early 2000’s.

    History

    Marketing Automation was created because marketers were faced with the challenge of reaching prospects across their customers’ ever-increasing variety of channels, which includes personal computers, tablets, and smartphones. With their variety of channels, marketers needed an easy and seamless way to reach their target audience and those who may potentially be in market in the future. Marketing Automation gave marketers the ability to nurture prospects with highly personalized, useful content which helps convert those potential prospects into customers. With Marketing Automation, it has become much easier to nurture leads by their fit and behavior, allowing marketers to get a much better idea of where leads are in the buying funnel.

    The above timeline represents a 30 year span of the constant and rapid change in marketing.

  • © Madison Logic. 2014 4

    Marketing Automation Playbook

    The above chart depicts the complexity of multi-device, multi-channel, and multi-content that marketers face. So let’s review some data points to see how successful marketing automation is.

    Definition: Marketing Automation is about making sure that you are delivering appropriate messages, engaging customers, and driving revenue for all of your marketing team’s efforts across your multiple channels.

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    Marketing Automation has been proven to work and more and more marketers are using it to refine, target, and optimize program initiatives. By doing this, marketers are able to improve their knowledge of buyer’s behavior, which allows marketers to align with sales, increasing revenue performance, and allowing the business to grow. However, just don’t take our word for it, the numbers really don’t lie!

    There are currently over two hundred marketing automation technology providers in the space.1

    25% of B2B Fortune 500 companies already use marketing automation, as do 76% of the worlds largest SaaS companies.2

    70% of the buying process is now complete by the time a prospect is ready to engage with sales.3

    Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads.4

    Companies that excel at lead nurturing generate 50% more sales-ready leads at 33% lower cost.5

    Marketing Automation by the Numbers

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    Marketing Automation Playbook

    Raab Report has indicated that marketing automation is expected to grow 60% over the next year reaching revenue figures of $1.2B during 2014.8

    Businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads.6

    3. SiriusDecisions

    4. DemandGen Report

    1. Frost & Sullivan

    2. Pardot

    5. Forrester Research

    6. Gartner Research

    7. The Annuitas Group

    8. Raab Report

    9. http://www.lumapartners.com/lumascapes/ marketing-technology-lumascape/

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    Revenue in the marketing automation industry is predicted to grow by 60% in 2014. That’s up from 50% annual growth in 2012 and 2013.*

    Since these data points show that Marketing Automation really works, you will probably want to know who will be the best providers for your organization’s needs. This can be tricky depending on what exactly your sales and marketing team is looking for. Over the past year or so, technology and software giants such as Oracle®, Salesforce®, Adobe®, and IBM®, have been placing large wagers on marketing automation cloud services with their high profile acquisitions of automation companies. LUMAPartners9 has done an incredibly good job of showing who does what in the marketing world. We broke down one of their “LUMAscapes” to give you a closer look at who the key players in Marketing Automation are. (see figure below).

    Key Players in Marketing Automation

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    Marketing Automation Playbook

    As you can see, there are multiple providers for Marketing Automation, but the key is finding the solution that best meets all of your needs. Research firm Frost & Sullivan® has reported that Marketo®, Eloqua® (acquired by Oracle®, 2013) and Silverpop® (acquired by IBM®, 2014) own roughly 80% of the marketing automation market share, leaving the other 20% for vendors such as Hubspot®, Pardot® (acquired by Salesforce®, 2013), Neolane® (aquired by Adobe®, 2013)Act-On® and Infusionsoft®.

    Marketing Automation platforms offer a vast collection of tools and resources. We’ve aggregated and defined the most popular functions for a quick-reference guide. Keep in mind that while each individual component is important to the marketing process, it may not be the best fit for your specific company. The current leaders in Marketing Automation each offer different solutions, so it is best to get as much information about the various components in order to make an informed decision when your organization decides to implement or upgrade your existing Marketing Automation platform.

    Key Components of Marketing Automation

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    Marketing Automation Playbook

    Visitor Tracking on Website – Is a way to track who is doing what across your site. It will provide you with a full set of statistics to help you monitor and track visitors while also collecting statistical data about your visitor traffic and aggregates the data into meaningful reports.

    Lead Nurturing (via Email) – Is a way of building relationships with potential clients even if they are not currently looking to buy a product or service. This is done by sending an occasional email letting the client know about updates to a product or service. It is also a way of keeping your organization on that client’s radar for when they are eventually ready to buy.

    Lead Scoring – Is a method of ranking prospects against a scale that represents the perceived value of each individual lead represented to the organization. This score is used to determine which leads will be engaged with by departments in your organization.

    Blogging & Social Outreach – Is the act of posting content regularly on a personal/organizational website or through social media such as Facebook®, LinkedIn®, Twitter®, Instagram®, etc. Through these efforts you can reach a wider audience, while also sharing important updates or news regarding your organization.

    Lead Flow Capacity to Sales – Is the maximum amount of generated leads that are passed on to sales as “sales ready.”

    Marketing Asset Management – Is a marketing technique of creating and distributing valuable, relevant, and consistent content to attract and acquire a clearly defined audience. The objective of this is to drive profitable customer action, while continuously creating content to inform clients about new processes within your organization or within the industry.