adding predictive marketing to your mix in 2015
DESCRIPTION
Demand Gen Report's Strategy & Planning Series session sponsored by Lattice Engines #SPS2014TRANSCRIPT
Session sponsored by!
#SPS2014
Adding Predictive !Marketing To Your !
Mix In 2015!
#SPS2014
Questions / ON24 Logistics !
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#SPS2014 Demand Gen Report: @DG_Report
LaGce Engines: @La.ce_Engines
Kerry Cunningham: @KerrySirius
Elle Woulfe: @ellehwoulfe
#SPS2014
About Demand Gen Report!
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#SPS2014
Panelists!MODERATOR:
Kerry Cunningham, Research Director, SiriusDecisions
Andrew Gaffney, Editor, Demand Gen Report
Elle Woulfe, Director of Demand GeneraPon,
La.ce Engines
Kerry Cunningham Research Director, Demand Creation Strategies 11/20/2014
Concepts and Considerations
Why Predictive for 2015
© 2014 SiriusDecisions. All Rights Reserved
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Agenda • Conversion Rates – We Can Do Better
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Agenda • Conversion Rates – We Can Do Better • The 67% Myth And Why It Matters
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Agenda • Conversion Rates – We Can Do Better • The 67% Myth And Why It Matters • What The Buyer’s Journey Really Looks Like
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Agenda • Conversion Rates – We Can Do Better • The 67% Myth And Why It Matters • What The Buyer’s Journey Really Looks Like • The Mysterious Inhabitants Of Your MAP
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Agenda • Conversion Rates – We Can Do Better • The 67% Myth And Why It Matters • What The Buyer’s Journey Really Looks Like • The Mysterious Inhabitants Of Your MAP • Adoption And Usage So Far
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Agenda • Conversion Rates – We Can Do Better • The 67% Myth And Why It Matters • What The Buyer’s Journey Really Looks Like • The Mysterious Inhabitants Of Your MAP • Adoption And Usage So Far • 4 Keys To Predictive Success
Conversion Rates We can do better
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To better understand why prediction is called for…
Why Predictive Is Needed
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Why Predictive Is Needed
Definition of Terms AQL A lead qualified through
progressive profiling and lead scoring in marketing automation
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Why Predictive Is Needed
Definition of Terms AQL A lead qualified through
progressive profiling and lead scoring in marketing automation
TQL A lead that is qualified by teleprospecting and deliverable to sales
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Why Predictive Is Needed
Definition of Terms AQL A lead qualified through
progressive profiling and lead scoring in marketing automation
TQL A lead that is qualified by teleprospecting and deliverable to sales
SQL A lead that sales has vetted and is putting into pipeline
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Why Predictive Is Needed
Conversion % AQL > TQL 10%-30%
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Conversion % AQL > TQL 10%-30%
TQL > SQL 10%-30%
Why Predictive Is Needed
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Conversion from AQL to SQL = 1%-10%
Why Predictive Is Needed
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Today, most of that qualification involves teleprospecting and
sales calls
Why Predictive Is Needed
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The Future of B-to-B Lead Development
Find clues that exist out in the world, which reliably point to
qualifying criteria & buying signals you would ask the decision-maker about if you could get him/ her on
the phone?
The Role of Data Science
SiriusPerspective:
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The Lead Qualification 4-Box
Expensive/ Deep Cheap/ Deep
Expensive/ Shallow
Cheap/ Shallow
Shal
low
Dee
p
Slow/ $$$ Fast/ $
Deg
ree
of Q
ualifi
cati
on
The promise of predictive technology is to perform deep qualification of accounts and opportunities through data science and automation.
SiriusPerspective:
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The Lead Qualification 4-Box
Expensive/ Deep Cheap/ Deep
Expensive/ Shallow
Cheap/ Shallow
Shal
low
Dee
p
Slow/ $$$ Fast/ $
Deg
ree
of Q
ualifi
cati
on
The promise of predictive technology is to perform deep qualification of accounts and opportunities through data science and automation.
Buying Lists
With Marketing Automation
With Predictive Modeling
SiriusPerspective:
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The Lead Qualification 4-Box
Expensive/ Deep Cheap/ Deep
Expensive/ Shallow
Cheap/ Shallow
Shal
low
Dee
p
Slow/ $$$ Fast/ $
Deg
ree
of Q
ualifi
cati
on
The promise of predictive technology is to perform deep qualification of accounts and opportunities through data science and automation.
1. List purchase and selection unsophisticated
SiriusPerspective:
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The Lead Qualification 4-Box
Expensive/ Deep Cheap/ Deep
Expensive/ Shallow
Cheap/ Shallow
Shal
low
Dee
p
Slow/ $$$ Fast/ $
Deg
ree
of Q
ualifi
cati
on
The promise of predictive technology is to perform deep qualification of accounts and opportunities through data science and automation.
1. List purchase and selection unsophisticated
List Buys
SiriusPerspective:
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The Lead Qualification 4-Box
Expensive/ Deep Cheap/ Deep
Expensive/ Shallow
Cheap/ Shallow
Shal
low
Dee
p
Slow/ $$$ Fast/ $
Deg
ree
of Q
ualifi
cati
on
The promise of predictive technology is to perform deep qualification of accounts and opportunities through data science and automation.
1. List purchase and selection unsophisticated
2. Technology does yet more qualification
With MAP
SiriusPerspective:
© 2014 SiriusDecisions. All Rights Reserved
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The Lead Qualification 4-Box
Expensive/ Deep
Cheap/ Deep
Expensive/ Shallow
Cheap/ Shallow
Shal
low
Dee
p
Slow/ $$$ Fast/ $
Deg
ree
of Q
ualifi
cati
on
The promise of predictive technology is to perform deep qualification of accounts and opportunities through data science and automation.
1. List purchase and selection unsophisticated
3. And sales becomes more efficient
2. Technology does yet more qualification
With Predictive
The 67% Myth (and why it matters)
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The 67% Myth (and why it matters)
67% …of the buyer’s journey ___________
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The 67% Myth (and why it matters)
67% is over before prospects talk to sales
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The 67% Myth (and why it matters)
67% is over before prospects talk to sales X
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The 67% Myth (and why it matters)
67% occurs through interactions with your digital assets
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The 67% Myth (and why it matters)
67% occurs through interactions with your digital assets X
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The 67% Myth (and why it matters)
67% of the buyer’s journey happens online…
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The 67% Myth (and why it matters)
67% of the buyer’s journey happens online… √
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The 67% Myth (and why it matters)
67% of the buyer’s journey happens online… and includes activity before and after prospects talk to sales √
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of the buyer’s journey happens online… and includes activity before and after prospects talk to sales and involves your assets, your competitors assets, influencers, communities, social media… √
The 67% Myth (and why it matters)
67%
What the Buyer’s Journey Really Looks Like And what it doesn’t look like
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The Buyer’s Journey - Fantasy
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Fantasy Lead Scoring
“Oh, hey! I am feeling fully nurtured.”
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Fantasy Lead Scoring
“I’ve established a budget and Pmeline, and I’m and ready to talk now…”
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The Buyer’s Journey - Reality
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?
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The Buyer’s Journey – A Long, Winding and Often Hidden Road
“Oh, hey. Long time no see…”
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The Buyer’s Journey – A Long, Winding and Often Hidden Road
“Thanks again for all that great information. Super helpful…”
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The Buyer’s Journey – A Long, Winding and Often Hidden Road
“… So… yeah. Now’s not a good time… I just bought from your competitor.”
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The Buyer’s Journey – A Long, Winding and Often Hidden Road
“But…. But… that’s not possible.”
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The Buyer’s Journey – A Long, Winding and Often Hidden Road
“You’re only in stage 3 of the buyer’s journey…”
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The Buyer’s Journey – A Long, Winding and Often Hidden Road
“We just degraded your score for inactivity.”
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The Buyer’s Journey – A Long, Winding and Often Hidden Road
“I mean… have you SEEN your engagement score!!!”
4 Truths About The Buyer’s Journey
SiriusPerspective:
© 2014 SiriusDecisions. All Rights Reserved
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The Reality of Buyers’ Journeys To really understand buyer’s journeys, marketers need to see more
than what interaction with their own assets will tell them.
Sometimes you see them and
sometimes you don’t
SiriusPerspective:
© 2014 SiriusDecisions. All Rights Reserved
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The Reality of Buyers’ Journeys To really understand buyer’s journeys, marketers need to see more
than what interaction with their own assets will tell them.
They continue even when prospects stop interacting with you.
hBp://explodingdog.com/Ptle/thanksfornotanswering.html
SiriusPerspective:
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The Reality of Buyers’ Journeys To really understand buyer’s journeys, marketers need to see more
than what interaction with their own assets will tell them.
Inactivity with respect to your assets may mean many things, and lack of interest is only one of those things
SiriusPerspective:
© 2014 SiriusDecisions. All Rights Reserved
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The Reality of Buyers’ Journeys To really understand buyer’s journeys, marketers need to see more
than what interaction with their own assets will tell them.
It is critical to understand where buyer’s are and to meet them where they are with relevant content
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Summarizing Fo Far
1. Buyer’s journeys are rarely linear 2. Often happen out of our line of sight 3. And require that we track prospect progress
outside of our digital walls
The Mysterious Inhabitants of Your MAP
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Mssr. Sans Title
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Mssr. V.P. Operations
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Mssr. Romano Nameless
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Mr. Johnny Depp
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Not Johnny Depp
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They may be ‘garbage,’ but they may be buyers (for your competitor). You’ll never know.
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? ?
?
?
Yet another hidden cost of masked prospects…
?
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? Contact 1 @ buyerco
?
?
?
Yet another hidden cost of masked prospects…
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Contact 4 @ buyerco Contact 1 @ buyerco
Contact 2 @ buyerco
Contact 3 @ buyerco
Contact 5 @ buyerco
Adoption and Usage So Far
SiriusPerspective:
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MAP-based Lead Scoring Is Far From Universally Adopted Even among users of marketing automation, just over two-thirds of
organizations are scoring leads.
16% Don’t score leads
68% Score leads
16% plan to score in 6 months
16% Don’t score
leads
SiriusPerspective:
© 2014 SiriusDecisions. All Rights Reserved
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Most organizations that have implemented lead scoring do not have a viable model, and are therefore unable to realize full value of scoring.
MAP-based Lead Scoring Isn’t Impressing Sales
60%
40% 68%
Score leads
16% plan to score in 6 months
16% Don’t score
leads
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Perceived Benefits of PLS
Of users agree that predictive lead scoring provides more value than traditional (MAP and point-based attribute and activity) lead scoring approaches
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Perceived Benefits of PLS
Of respondents said they would buy predictive lead scoring again. 98%
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Perceived Benefits of PLS
Agree that they are receiving value from their predictive lead scoring platform.
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The Growth of Predictive Lead Scoring
The number of organizations adopting predictive is
growing rapidly
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The Adoption of Predictive Lead Scoring
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Is Failure a Prerequisite?
Rules—based lead scoring failure is not a pre-requisite for predictive lead scoring success.
4 Keys to Predictive Success
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4 Keys To Predictive Success
Involve sales
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4 Keys To Predictive Success
Establish SLAs first
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4 Keys To Predictive Success
Set reasonable expectations
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4 Keys To Predictive Success
Establish mechanisms for capturing and using feedback
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Key Take-aways
• Conversion rates aber automaPon qualificaPon are sPll very low
• The buyer’s journey conPnues online and through a variety of channels and media, even aber buyers meet sales
• There may be a lot of value in the garbage contacts in your MAP that MAP can’t help you idenPfy
• PredicPve lead scoring adopPon is climbing rapidly • Having SLAs and enrolling sales in the development,
roll-‐out and fine-‐tuning of PLS is criPcal for success.
Elle Woulfe Director of Demand Gen
Elle Woulfe Director of Demand Gen
Lattice Engines
#MKTGnerd
Life Without Lead Scoring…
BEHAVIOR
PRO
FILE
BEHAVIOR
PRO
FILE
PASS TO SALES
Know Everything That’s Discoverable
Growth Profile Employee, locaPon, facility, and contract growth
Social Presence
OperaPng Diversity Divisions, disparity of locaPons & personnel
Cloud Maturity CRM, MA, and provisioned infrastructure
Company Profile Size, credit raPng, news
Technology Profile Installed technologies and maturity ExecuPve Change Presence of new personnel
AdverPsing & External Investment Spend, trend, Pming, events
1,000s of Other ABributes
Web Page Visits
Video Views and Engagement
Title of Contact
Form ConversaPons
Downloads
Webinars ABended
Campaign Response Rates
Email Opens
Internal Data Sources
80%
20%
The PredicPve Opportunity
The PredicPve Opportunity…
Data Science
&
Predictive Analytics
ACQUIRE
CONVERT
ACCELERATE
GROW
RETAIN
INCREASE TOTAL
FUNNEL YEILD
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
Predictability Across the Customer Lifecycle
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
BEST LEAD
Expand the Funnel: Identify Your Next Best
Lead Segment
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
BEST LEAD
Expand the Funnel: Identify Your Next Best
Lead Segment
27% More Leads Passed to Sales
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
CONVERSION
Expand the Funnel: Identify Your Next Best
Lead Segment
Curse of Abundance: Apply Ruthless
Prioritization
27% More Leads Passed to Sales
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
CONVERSION
Expand the Funnel: Identify Your Next Best
Lead Segment
Curse of Abundance: Apply Ruthless
Prioritization
27% More Leads Passed to Sales
Increased Opportunity to Win Conversion: 37%
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
TARGET ACCOUNT
MQL Expansion: Identify Your Next Best
Lead Segment
Curse of Abundance: Apply Ruthless
Prioritization
Account Based Targeting:
Prioritize Tactics & Accelerate Conversion
27% More Leads Passed to Sales
Increased Opportunity to Win Conversion: 37%
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
TARGET ACCOUNT
MQL Expansion: Identify Your Next Best
Lead Segment
Curse of Abundance: Apply Ruthless
Prioritization
Account Based Targeting:
Prioritize Tactics & Accelerate Conversion
Increased ASP +26% Win Rate 75%
27% More Leads Passed to Sales
Increased Opportunity to Win Conversion: 37%
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
CUSTOMER
MQL Expansion: Identify Your Next Best
Lead Segment
Curse of Abundance: Apply Ruthless
Prioritization
Account Based Targeting:
Prioritize Tactics & Accelerate Conversion
Cross-Sell/Up-Sell: Target the Right Customer
with the Right Product
27% More Leads Passed to Sales
Increased Opportunity to Win Conversion: 37%
Increased ASP +26% Win Rate 75%
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
CUSTOMER
MQL Expansion: Identify Your Next Best
Lead Segment
Curse of Abundance: Apply Ruthless
Prioritization
Account Based Targeting:
Prioritize Tactics & Accelerate Conversion
Cross-Sell/Up-Sell: Target the Right Customer
with the Right Product
27% More Leads Passed to Sales
Increased Opportunity to Win Conversion: 37%
Increased ASP +26% Win Rate 75% 2-3X Increase in Pipeline,
Deal Size & Conversion
Prioritize
Cultivate
Expand
Retain
Feed
Predict Your Next…
RENEWAL
MQL Expansion: Identify Your Next Best
Lead Segment
Curse of Abundance: Apply Ruthless
Prioritization
Account Based Targeting:
Prioritize Tactics & Accelerate Conversion
Cross-Sell/Up-Sell: Target the Right Customer
with the Right Product
Churn Mitigation:
Manage Renewals
27% More Leads Passed to Sales
Increased ASP +26% Win Rate 75% 2-3X Increase in Pipeline,
Deal Size & Conversion
Increased Opportunity to Win Conversion: 37%
#SPS2014
Submit Your Questions!
• Download this white paper. • View our podcast. • Take our assessment • …
#SPS2014
Q&A // Panelists!MODERATOR:
Kerry Cunningham, Research Director, SiriusDecisions
Andrew Gaffney, Editor, Demand Gen Report
Elle Woulfe, Director of Demand GeneraPon,
La.ce Engines
#SPS2014
Thanks for attending this session!!
Make sure to aBend the next session in the Strategy & Planning Series:
hBp://dg-‐r.co/sps_14