marketo secret sauce - shyna zhang
TRANSCRIPT
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Page 1 © 2014 Marketo, Inc. #MKTGNATION14
Marketo Secret Sauce:Modern Marketing Case Study
Shyna ZhangSr. Product Marketing Manager
Image of Speaker here
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Page 2 © 2014 Marketo, Inc. #MKTGNATION14
What is the Marketo Secret Sauce?
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INFORMATION SCARCITY
WE USED TO LIVE IN A WORLD OF
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ABUNDANCEINFORMATION
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Adaptive MarketerImage: Hugh Mac Leod, www.gapingvoid.com
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BUYEVALUATELEARNENGAGE
TRUSTENJOYBUY ADVOCATE
RENEWVALUEUSEOWN
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Nam
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Marketo’s Guided Journey: A Revenue Cycle
TOFU MOFU
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
BOFU
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Page 8 © 2014 Marketo, Inc. #MKTGNATION14
Nam
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Targ
etOpportunityCustomerLe
ad
Sale
s Le
ad
Nurturing Database
Retain
Advocate
Enable Adopt
Marketo’s Guided Journey: A Revenue Cycle
Drive customer success to keep and grow relationships
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Awar
enes
s
Web
Vis
itor
A Marketo customer example
In-personAppointment
CustomerCo
nver
ted
Enga
ged
Nurturing Database
Advocate
Adopt
Retain
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Why try to guide individual journeys?
• Because your marketing will appeal to more people
• Because your marketing will keep more people engaged
• Because your marketing will keep in touch with people even when they aren’t looking to buy
• Because your marketing will create more advocates
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Awareness and Top of Funnel
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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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Blog, e-books, research data, funny videos, curated lists, infographics, webinars
NO
YES
MOSTLYNO
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 Stage
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Durable Relationships over Time
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BUYEVALUATELEARNENGAGE
TRUSTENJOYBUY ADVOCATE
RENEWVALUEUSEOWN
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Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012.
Buyer Led
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Purchase ready(Pass to sales)
Source: RainToday
25%
50%
25%
2%
Need More Nurturing
Disqualified
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Nurturing: Building durable relationships with prospects and customers
over time through engaging conversations
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What isn’t an engaging conversation?
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When it comes to marketing, nobody wants to get blasted
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Marketing is NOT a gumball machine!
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What is an engaging conversation?• Communications
flow one to the next• Listens and responds• Relevant and
meaningful
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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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A
B
C
D
1 23
Stages
1. BUYING STAGES• Early: Be a Better Marketer• Mid: Why Marketing Automation• Late: Why Marketo• Customer: Success
2. BUYING PROFILES• B2B Marketing• Consumer Marketing• Sales
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A
B
C
D
1 23
Stages
1. BUYING STAGES• Early: Mortgage Considerations• Mid: Why Now?• Late: Why Us
2. BUYING PROFILES• First-time Home Buyer• Re-financer• Home Underwater
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Behavioral Targeting for Maximum Relevance: Topic of Interest Triggers
• Attends event• Downloads content• Click email• Fills out form• Score is changed
Social
Content
Technology
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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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Scoring People andManaging Leads
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Scoring Defined
Fit Interest Lifecycle Stage
“Methodology for ranking people in order to determine their readiness to buy”
Nurture DisqualifyNurturePass to Sales Send right offer
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• Early stage content +3• Attend webinar: +5• Visit any webpage /
blog : +1• Visit careers pages: -10• Decay inactivity:
-1, -5, -10
Discovery Behaviors
• Pricing pages: +10 • Watch demos:
• +5 overview • +10 detailed
• Mid-stage content +8• Late-stage content +12• Searches for branded
keyword “Marketo” +8
Buying Behaviors
Get The “Definitive Guide to Lead Scoring”http://marketo.com/DG2LS
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Stars and Flames show priority
Full list of Interesting Moments
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The Customer Lifecycle
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BUYEVALUATELEARNENGAGE
TRUSTENJOYBUY ADVOCATE
RENEWVALUEUSEOWN
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Customer Nurture Streams
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X-S Scoring Based on Product Interest (PIS)
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Revenue Analytics
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Why Measuring Return is Hard
• Multiple touches. Seven touches needed to convert a first time visitor into a sale
• Unclear success. Measuring campaign success is easy. But what about real success?
• Multiple influencers. A B2B buying committee has 5-21 people
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Track All Touches Across People
Screenshot: Marketo Revenue Cycle Analytics
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Marketo’s Revenue Cycle
TOFU MOFU
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
BOFU
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Revenue Cycle Modeler
Screenshot: Marketo Revenue Cycle Analytics
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Customer Revenue Cycle
Screenshot: Marketo Revenue Cycle Analytics
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Screenshot: Marketo Revenue Cycle Analytics
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Use Metrics to Set & Justify Budgets
New Targets
60,000
InventoryOf ActiveTargets
131,000
New MQLsScore>100
23,00015.3%
Inventory of Active MQLs
10.5% 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
nd
/ P
rog
ram
s
120,000(900K DB Total)
New Names
New SQLs
922
2.4%
1.9%
75%
Win
s35% win
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Use Metrics to Set & Justify Budgets
New Trials
15,000
InventoryOf Active
Trials
50,000
Engaged Trials
1,5009.5%
Inventory of Active Trials
5% 2,500
Engaged Customers
100 Engaged Customer Inventory
5,000
270
SDR capacity driven
Web
V
isit
ors
1,000,000
New Names
New Customers
125
2.5%
2%
90%
Ren
ewal
s
90%
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Tweetable Takeaways
1.The way buyers buy has changed forever – the way we market and sell must change as well
2.Marketers must take control and guide each person through a successful journey
3.Most people are not “ready to buy” – nurture relationships over time
4.Use analytics to turn marketing from a cost center into a revenue driver
5.Think big, start small, move quickly
#MKTGNATION14
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When marketers guide the journey…
• More peopleaware & engaged
• Moving faster through their journey
• Advocating for your products & services
• And you canprove it
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Trig
gere
d
Bu
sin
ess-a
s-U
su
al
Epsilon March 2013 US Email Benchmark Report
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RelevanceGet the “Definitive Guide to Lead Nurturing”
marketo.com/DG2LN
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
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ad
Nurturing Database
Exposed to us via content, brand, or word of mouth
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Nam
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
Feels a relationship and trust with us
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
Names are just names.
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Nam
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Targ
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
Meaningful interaction with us
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Nam
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Awar
enes
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Targ
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
Nurture until ready for next step
Qualified potential customer
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Nam
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Targ
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out
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Nam
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Targ
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
Qualified as sales-ready by SDR
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Nam
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Marketo’s Revenue Cycle
Opportunity CustomerLead
Sale
s Le
ad
Nurturing Database
Accepted and actively worked by sales:marketing quota attainment
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For visitors in B2C industries
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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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JUNEDATE:
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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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Dynamic Content
Industry, Geography, Company Size, Customer
vs. Prospect, etc.
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Short (5)Conversion: 13.4%Cost per: $31.24
Medium (7)Conversion: 12.0%Cost per: $34.94
Long (9)Conversion: 10.0%Cost per: $41.90
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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
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Sample Filters from Gainsight
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Example: Multi-Touch Attribution
A deal worth $100,000 recently closed. Three people were involved in the deal:
• Person A attended Seminar A and Trade Show B• Person B attended Trade Show B• Person C was sent Direct Mail C
$100,000 Revenue
$25,000 $25,000 $25,000 $25,000
Seminar A$25,000
Tradeshow B$50,000
Direct Mail C$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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Tweetable Takeaways
1.The way buyers buy has changed forever – the way we market and sell must change as well
2.Define the stages of the revenue cycle cycle, in alignment with sales
3.Most leads are not “sales ready” – nurture relationships over time, use online body language to score leads
4.Use analytics to turn marketing from a cost center into a revenue driver
5.Think big, start small, move quickly
#MKTGNATION14
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Engagement & Intent
One Way to “Marketing Qualify”
A Lead Lead Lead
B Lead Lead
C Lead
D4 3 2 1
Fit
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Accurately Tracking “Investment” vs Budget
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Track All Touches Across People
Screenshot: Marketo Revenue Cycle Analytics
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Gainsight for Customer SuccessAcme
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Marketing Forecasts
Get The “Definitive Guide to Marketing Metrics & ROI”http://marketo.com/DG2MM