marketing automation 6 step to success - mark levell

Marketing Automation6 Steps to Success

Mark LeVell, President MLeVell@4ThoughtMarketing.com

Mark LeVell President 4Thought Marketing,

Specialists in Marketing Automation

Previous: Vice President Market2Lead Deep Marketing Automation Experience

Previous: Director MarketFirst Group Pivotal/CDC Software Responsible for all aspects of Software Division

Previous: President of TeleSell Sales Software for 14 years Directly managed 10s, Indirectly managed 100’s of projects

MLeVell@4ThoughtMarketing.com

Why Marketing

Automation?

Why Marketing Automation

• Let me scare you… just a little bit

• Let me scare you just a bit more…

Why Marketing Automation

• High Risk… but huge rewards• The truth is… no choice• MA Experience? -Job Security• No MA? -Ultimate Career Failure

What is Marketing

Automation?

Digital Body

Language

Eloqua Best Practices: The Demand Lifecycle(TM) 8

Digital Body Language is about the Buyer’s Journey

Sales & Marketing Effectiveness Determine Volume and Velocity

Evaluate PurchaseJustifyInterest

NurturingPrograms

Within 24 months from target company or

competitor

Source: Sirius Decisions

• 60% of marketers believe that technology can help them develop more high-quality leads. (Forrester Research)

• Sales reps dedicate 14% of their time to lead development, but only 6.3% of leads are utilized (Sirius Decisions)

Why Nurture?

10

Plugging the Leak

Source: Forrester’s Best Practices: “Improving B2B Lead Management”

11

Why Nurture?

Today Buyers Find Sellers.

It’s now the “Buy Cycle” more than the “Sales Cycle”

Sales doesn’t want to.

Sales doesn’t have time.

Salespeople are expensive.

Your Corporate Database is a tremendous Asset

New Offer Workflow

Lead Scoring

What is Scoring?

Lead ScoringThe predictive ranking of one inbound response versus

another.

An automated scoring program is objective.

Example Score

Score Description Marketing Action

A4 The right prospect but no interest.

Priority but may need specific “why now”

messaging.

B1 Good fit and very interested.

Send to sales queue for follow-up.

C1 Not the idea prospect but very interested.

Will they ever be a good fit? Continue to nurture.

D4 Wrong Fit. No interest. Fulfill request and segment out.

Monitor Scoring Model Results

Route toEducation Nurturing

Program

Send to CRM

Route to Sales For immediate

follow-up

Send to CRM

Route to Sales for non-priority

follow-up

Fulfill request

Expressing Interest Aware of problem Plan to solve problem Desire specific solution

Low Cost/High Efficiency High Cost/Low Efficiency

Align Follow-Up with Lead Value

Lead Scoring Results

Case Study

MetricsBefore Lead

ScoringAfter Lead

ScoringDelta

Opportunities(qualified leads)

1,372 1,058* - 23%

Closed Deals 430 (31%) 433 (41%) 10%

Revenue Per Client

$16,842,950 $19,843,545 18%

Revenue Per Deal

$39,149 $45,863 17%

10 customer scoring programs analyzed

Closed Loop Reporting

Wanamaker’s Lament

“I know half the money

I spend on advertising is wasted, but I can never

find out which half.”

– John Wanamaker (1838-1922)

The Father of Modern Advertising

© 2011 Eloqua, Inc. Confidential 23

What is Closed-Loop Reporting?

Campaign Contact Opportunity Revenue

Return on Investment

Response

© 2011 Eloqua, Inc. Confidential 24

What: The Campaign Revenue Performance charts show your top and bottom performing campaigns in terms of your choice of metrics: closed won revenue, closed lost revenue, open revenue, ROI, etc.

Why: This chart can easily highlight where your top performing and bottom performing campaigns are so that you can make decisions on where to repeat campaigns that are driving the right results or restructure ones that are not.

Revenue Performance DashboardWhere are the bright spots in campaign performance?

© 2011 Eloqua, Inc. Confidential 25

Campaign Revenue PerformanceWhat is the revenue impact of my campaigns?

So What is Marketing Automation?

• Tracking Digital Body Language

• Nurturing Programs• Social Media Integration• Lead Scoring• Closed Loop Reporting

Success Step #1

Goes by Many Names

Success Step #1 :Goes By Many Names

• Set Reasonable Expectations

• Know your Plan• Don’t be an Island• Get Executive Buy-In

Develo

pm

ent

Launch

Tes t

ing

Desi

gn

Post

Launch

Support

ds Needs

Design

Development

SOW

Success Step #1 :Know & Communicate Your Plan

Success Step #2

Very TacticalBut Essential

Success Step #2 :CLEAN your freakin’ Data

Dirty Data• Ruins Metrics• Lowers Deliverability• Annoys Prospects• Kills Projects and Careers

Success Step #2 :CLEAN your freakin’ Data

• Get rid of Dup Contacts • And get rid of Dup Companies • Dump the ASDF• No engagement 6 Months? Gone!• Define your industries• Normalize your Titles

Success Step #3

Define your Pipeline

Success Step #3Define your Pipeline

• Define your terms.• Which depts get what, when?

• Define a qualified lead?• Get Agreement on when sales drops a lead

Success Step #4

Secure the Right Resources

Success Step #4Secure the Right Resources

• Secure Technical Resources

• Integration, Website, Programming

• Plan for Sufficient Content

• Remember your day job!

- Goes back to setting expectations

Success Step #5

Know Your Strategy

Success Step #5Know Your Strategy

• If your execs don’t have it… create it yourself!

• Identify your Target Market

• Know your Buyer Personas

• Collect Sufficient Data to Target

Success Step #6

Measure & Prove

Success Step #6Prove your success

• Goes Back to Closed Loop Reporting

• The beauty of marketing automation is you can prove that you’re successful

• Measurement will set you above your peers

© 2009 Portrait Software Strictly Portrait Software Confidential

McNamara’s Dictum

“We have to find a way of making the important

measurable, instead of making the

measurable important”

– Robert McNamara (1916 – 2009)

US Secretary of Defense

How to measure campaign success: Net Response?

SegmentNumber of Customers

Number of Responses

Response Rate %

Treated 1,000 250 25%Control 1,000 100 10%

Uplift 150 15%

Why did the chicken cross the road?

43

Historical inevitability: the

chicken was always going to cross the road

$100M marketing campaign promising that

the grass is greener on the other side!

With enough chickens (and a good control group!), an uplift model can tell us which chickens were influenced by marketing, and which had already made up

their minds.

Uplift segmentation for response

I am a

Sleeping

Dog

I am a Sure

Thing

I am a Lost

Cause

I am

Persuadabl

e!BuyDo nothing

If we do nothing,customer will:

Do nothing

Buy

If we target, customer will:

44

Summary

Marketing Automation Is…

Tracking Digital Body Language Nurturing Programs Social Media Integration Lead Scoring Closed Loop Reporting

Six Steps for MA Success

1. Engage Your Company

2. Clean Your Data

3. Define your Pipeline Processes

4. Secure The Right Resources

5. Measure and Prove your success

Marketing Automation6 Steps to Success