Demand Generation: Tips, Tricks and Tales from the Front-Line
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Join Ray Coppinger, Online Marketing Manager at Marketo and demand generation veteran as he presents how to achieve better results through smarter marketing and how to analyse the performance of your marketing campaigns with the metrics that matter most. In this session you will gain valuable insights on demand generation, specifically: Using content marketing to feed your demand generation engine Demand generation and the stages of the demand funnel Leveraging social marketing for demand generation Best practices for measuring and analysing campaign performance
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Demand Generation: Tips, Tricks and Tales from the Front-Line
- 1. Demand Generation - Tips, Tricks and Tales from the Front-Line Ray Coppinger Online Marketing Manager EMEA, Marketo @raycop @marketo
- 2. TOPICS 1. What is Demand Generation (DG)? 2. DG at the Top of the Funnel 3. DG in the Middle of the Funnel 4. Content Marketing: Fuel for your DG Engine 5. DG Metrics
- 3. Page 3© 2014 Marketo, Inc. Marketo Proprietary and Confidential Survey: Is Demand Generation Important? Source: Marketo – LBDGA Survey June 2014, www.marketo.com/demand-generation 50% 39% 11% It is our primary focus. It is an important activity. It is not a particular focus. Full Report: Marketo.com/Demand-Generation
- 4. Page 4© 2014 Marketo, Inc. Marketo Proprietary and Confidential Survey: But what is Demand Generation? 37% 35% 20% 8% Lead generation Marketing from first touch point to beyond sale Driving revenue growth Supporting Sales Source: Marketo – LBDGA Survey June 2014, www.marketo.com/demand-generation Full Report: Marketo.com/Demand-Generation
- 5. Page 5© 2014 Marketo, Inc. Marketo Proprietary and Confidential OPPORTUNITY CUSTOMER LEAD The History of B2B Marketing
- 6. Page 6© 2014 Marketo, Inc. Marketo Proprietary and Confidential Sales and Marketing Alignment?
- 7. Page 7© 2014 Marketo, Inc. Marketo Proprietary and Confidential So what is Demand Generation? Demand Generation is the function of marketing that creates demand for your product or service by: • Qualifying and prioritising prospects. • Nurturing a steady crop of qualified leads that want to engage with sales. • Aligning marketing with sales. • Measuring and optimising the results over time.
- 8. Page 8© 2014 Marketo, Inc. Marketo Proprietary and Confidential Demand Generation – Across the Lifecycle
- 9. Demand Generation: Top of the Funnel
- 10. Page 10© 2014 Marketo, Inc. Marketo Proprietary and Confidential Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Marketo Program Mix - TOFU
- 11. Page 11© 2014 Marketo, Inc. Marketo Proprietary and Confidential Virtual Events and Webinars Registration = 18,086 Attendees = 4,976 Tweets = 2,224 in 4 hours Downloads of Marketo content = 12,112 New Names = 3,194 FT Pipeline - $368K MT Pipeline - $2.5M Registration = + 4K
- 12. Page 12© 2014 Marketo, Inc. Marketo Proprietary and Confidential Tip 1: Multi-Touch Promotion Typical Webinar Promotion: Series Invite + Big Bang Press Release T-2 weeks invite T-1 weeks invite v2 T-2 days invite Typical Webinar Confirmation: Confirmation Email Reminder 2 days prior – Email and Boxpilot Reminder 1 hour prior Typical Webinar Follow-up: Minutes after event with slides 1-2 days later with recording Phone call (Leads)
- 13. Page 13© 2014 Marketo, Inc. Marketo Proprietary and Confidential Tip 2: Events (all): Follow-Up Fast 1.Email with slides out within the hour 2.Recording out within 48 hours 3.Immediate sales notifications and “interesting moments” 4.Follow-up survey included requests for a demo 5.Follow-up offers to continue engagement
- 14. Page 14© 2014 Marketo, Inc. Marketo Proprietary and Confidential Paid Search (PPC) 1. Know your efficiency limits e.g. max cost per conversion that permit sustainable cost per opportunity 2. Be clear on your objectives and be able to track against those. 3. Be able to track additional activities on your website 4. Make sure you are including all costs in your analysis.
- 15. Page 15© 2014 Marketo, Inc. Marketo Proprietary and Confidential Paid Email Campaigns 1.Good vendors 2.Negotiate when possible 3.Email design 4.Relevant and vetted offer 5.Test! 6.Back up plan if results don’t meet your goal
- 16. Page 16© 2014 Marketo, Inc. Marketo Proprietary and Confidential Great targeting! • Enterprise • B2C • SMB • Industries • Groups LinkedIn Sponsored Updates
- 17. Page 17© 2014 Marketo, Inc. Marketo Proprietary and Confidential Your Blog @jonmiller @mpranikoff
- 18. Page 18© 2014 Marketo, Inc. Marketo Proprietary and Confidential Blog - Results From average 14 a week to 145/week - 10X growth!
- 19. Page 19© 2014 Marketo, Inc. Marketo Proprietary and Confidential Content syndication 1. Consider mid-stage content 2. Gate content 3. System integration 4. Get credit 5. New names matter 6. Freshness Partner website property Partner website property Partner website property
- 20. Demand Generation: Middle of the Funnel
- 21. Page 21© 2014 Marketo, Inc. Marketo Proprietary and Confidential 98%2% Why Nurture?
- 22. Page 22© 2014 Marketo, Inc. Marketo Proprietary and Confidential Content Approach - Example Early (Pre-Opp) Be a Better Marketer Blog Posts Funny Videos Infographics Thought Leadership Mid (Pre-Opp) Why Marketing Automation Buying Guides RFP Templates ROI Calculators Whitepapers Research Late (Post-Opp) Why Marketo Pricing Demos Video Testimonials Case Studies
- 23. Page 23© 2014 Marketo, Inc. Marketo Proprietary and Confidential Content Approach - Marketo
- 24. Page 24© 2014 Marketo, Inc. Marketo Proprietary and Confidential Italian Workspace Joe Smith: Acme Inc. Community Help Search… + Search… + Recently Updated Practical B2B Lead Generation Added Mar 30, 2013 Sent 12,105 82 Thought Leadership Edited Mar 25, 2013 Sent 12,105 70 Lead Scoring Best Practices Edited Mar 22, 2013 Sent 12,105 55 Lead Management Best Practice D… Added Mar 18, 2013 Sent 12,105 35 Lead Scoring Best Practices Edited Mar 10, 2013 Sent 12,105 9 Engagement Over Time Dec Jan Feb Mar Apr May 100 80 60 40 20 0 Summary 1.5% Unsubscribe 65 Engagement 55d Next Cast Members In Track Exhausted Paused 3,450 50 35 Mar 18, 2013 Engagement: 60 2013 Marketo’s Secret Sauce Definitive Guide to Events Lead Nurturing Lead Scoring Best Practices Lead Management Best Practic Practical B2B Lead Generation Thought Leadership Email Performance Report Program Performance Lead Nurturing Streams Setup My Tokens Members View: Dashboard ▼ Streams: All Streams ▼
- 25. Page 25© 2014 Marketo, Inc. Marketo Proprietary and Confidential Lead Scoring Defined “Shared sales and marketing methodology for ranking leads in order to determine their sales readiness” Nurture Nurture DisqualifyPass to Sales Pass to Sales Fit Interest Buying Stage
- 26. Page 26© 2014 Marketo, Inc. Marketo Proprietary and Confidential • Early stage content +3 • Attend webinar: +5 • Visit any webpage / blog : +1 • Visit careers pages: -10 • Decay inactivity: -1, -5, -10 • Pricing pages: +10 • Watch demos: • +5 overview • +10 detailed • Mid-stage content +8 • Late-stage content +12 • Searches for branded keyword “Marketo” +8 Get The “Definitive Guide to Lead Scoring” http://marketo.com/DG2LS
- 27. Demand Generation: Content is your Fuel
- 28. Page 28© 2014 Marketo, Inc. Marketo Proprietary and Confidential Content is Demand Generation Fuel
- 29. Page 29© 2014 Marketo, Inc. Marketo Proprietary and Confidential Tip 1: Tell a story and have a point of view 1. Compile your data 2. Create a narrative 3. Have a unifying theme – your POV! I’m the customer and I’m the hero!
- 30. Page 30© 2014 Marketo, Inc. Marketo Proprietary and Confidential Tip 2: Map content to buying stage
- 31. Page 31© 2014 Marketo, Inc. Marketo Proprietary and Confidential Tip 3: Make sure your content is ‘Findable’ 1. Social promotion 2. H1 Tag 3. >2 H2 Tags 4. Metadata – including title, descriptors, keywords 5. Links to related content 6. Alt tags for images
- 32. Page 32© 2014 Marketo, Inc. Marketo Proprietary and Confidential Lean Content Creation Image Source: http://gameofthrones.wikia.com/wiki/Unsullied
- 33. Page 33© 2014 Marketo, Inc. Marketo Proprietary and Confidential “Big Rock” Content Example Definitive Guide: Webinars: Ebooks: Infographics:
- 34. Page 34© 2014 Marketo, Inc. Marketo Proprietary and Confidential Content is not just whitepapers! • eBooks • Blog posts • Videos • Podcasts • SlideShare Presentations • Infographics • Activity Books/Worksheets • Articles • Webinars
- 35. Page 35© 2014 Marketo, Inc. Marketo Proprietary and Confidential Visual content can help you stand out eBook - 29,000 Views Slideshare - 367,000 Views
- 36. Page 36© 2014 Marketo, Inc. Marketo Proprietary and Confidential The 3 R’s of Content Marketing 1. Repurpose 2. Rewrite 3. Retire
- 37. Page 37© 2014 Marketo, Inc. Marketo Proprietary and Confidential Repurpose
- 38. Page 38© 2014 Marketo, Inc. Marketo Proprietary and Confidential Rewrite and Redesign
- 39. Page 39© 2014 Marketo, Inc. Marketo Proprietary and Confidential Retire
- 40. Page 40© 2014 Marketo, Inc. Marketo Proprietary and Confidential Apply Science to Content
- 41. Page 41© 2014 Marketo, Inc. Marketo Proprietary and Confidential Apply Science to Content
- 43. Page 43© 2014 Marketo, Inc. Marketo Proprietary and Confidential Why Measuring Return is Hard • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people
- 44. Page 44© 2014 Marketo, Inc. Marketo Proprietary and Confidential Avoid the Wrong Metrics Vanity Metrics Sound good and impress people, but don’t measure impact on revenue or profitability Activity Metrics Measure what you do instead of what results and impact you have. Cost Metrics Frame marketing in terms of cost and spending instead of results and outcomes
- 45. Page 45© 2014 Marketo, Inc. Marketo Proprietary and Confidential Aggregate impact on company revenue; pipeline performance; predictive forecasts Revenue Cycle and Forecasts The Right Metrics: Revenue Cycle Metrics
- 46. Page 46© 2014 Marketo, Inc. Marketo Proprietary and Confidential Use Metrics to Set & Justify Budgets New Targets 60,000 Inventory Of Active Targets 131,000 New MQLs Score>100 23,000 15.3% Inventory of Active MQLs 10.5% 20,000 New Opps* 1,000 6 Month Created Opp Inv. 2,000 SDR capacity driven Inbound/ Programs 120,000 (900K DB Total) New Names New SQLs 922 2.4% 1.9% 75% Wins 35% win
- 47. Page 47© 2014 Marketo, Inc. Marketo Proprietary and Confidential The Right Metrics: Program Performance Incremental revenue contribution and ROI of individual marketing programs Program Performance
- 48. Page 48© 2014 Marketo, Inc. Marketo Proprietary and Confidential See Direct Program Contribution to Sales Screenshot: Marketo Revenue Cycle Analytics
- 49. Page 49© 2014 Marketo, Inc. Marketo Proprietary and Confidential Track All Touches Across People, Over Time
Editor's Notes
- Hello – welcome everyone. Excited to be here to introduce the Era of Engagement Marketing and how marketers like yourself are embracing technology in today’s dynamic world to rise above the noise to drive engagement with people I’m one of you, not to sell you anything (small commercial on the back end) , but to talk about some of the cutting edge marketing that members of our Marketing Nation have been able to achieve with some of these best practices.
- In the digital era, your customers are your most valuable asset, and only those who successfully engage them throughout the customer lifecycle will succeed at all. And that means that marketers must master an engagement marketing strategy – through a deep understanding of the seven core principles, combined with the technologies needed to act upon them.
- This revenue funnel shows the three phases of the revenue process, reflecting the stages along the buyer’s journey – and embraces a recycling process where less sales-ready leads flow ‘backward’ from sales to marketing. We call the first phase “seed nurturing” – otherwise known as content marketing or inbound marketing. This is the process of helping prospective customers to find your company, often before they are actively looking to make a purchase, and then progressively turning that early awareness into brand preference, knowledge of your products and services, and a buyer’s journey that ultimately leads to booked revenue for your business. Next up is Lead Nurturing —the process of building and maintaining relationships with qualified prospects regardless of their timing to buy. Prospects may not want to be sold to, but they welcome help and support with their own learning and research process. And buyers do want to build growing connections with the vendors they are considering. Ultimately, the goal of lead nurturing is to connect prospects with salespeople at the moment each prospect is ready to buy, whenever that might be. Finally, we get to the Qualification to Close phase. Here’s where the rubber meets the road, and the real payoff of RPM is realized. Here, we enable sales to focus on the best, most closeable opportunities. Any complete Revenue Performance Management process needs to embrace the idea of lead recycling. Depending on the company and its industry, an advanced-stage sales lead might represent an invested expense of $1,000, $5,000, or more. If it were a laptop computer of that value, it would probably carry an asset tag and be tracked by IT throughout its useful life. Yet high-value leads regularly fade into oblivion, taking thousands of invested dollars along with them. With lead recycling sales routinely hands back to marketing those leads that have strayed away from the buying path back to marketing, entrusting their colleagues to take good care of them. In turn, marketing commits to bringing the recycled lead back around to sales if and when the lead shifts from “not now” to “Okay, I’m ready.”
- Let’s talk about where all these targets come from. How are we generating our targets. This is a report pulled right out of our analytics, with real actual data, and It shows which channels are generating targets for us at the top of the funnel. This is a screenshot out of Marketo, so across various channels, what are the number of targets generated, what is the investment per target for that channel (and I am only counting program dollars there, so not counting people’s time). The % opps, or the % of the targets that become opportunities. The index tells us how efficient each channel is at creating opportunities. Index is simply the % opp number presented as an index versus the average. So take the inbound web channel. The 2.5 index means that targets generated from the inbound channel are 2.5 times more likely to become an opportunity as compared to the average across channels. And then days to opp is how long it take them on average, how long do I have to nurture prospects from each channel, before they become an opportunity.
- Let’s now touch on events. A great event tip is multi –touch promotion. This works well for physical or virtual events. This slide will walk us through a typical example of what we do for a webinar: We kick off our webinar series with a Press release We do a series of emails and interestingly - > it is the third email drives the most registration!! We then have a confirmation process: When someone registers, we send a confirmation email, then a reminder 2 days prior. We also use a phone message service called - Boxpilot – and this helps us improve our performance There is a reminder 1 hour before – include calendar – (ics file) so folks can add the event to their calendar Lastly, for our follow up process: we send out slides within 45 min, then the recording.
- The most critical tips for all events is to Follow up FAST! This is one of the most valuable things we do here at Marketo. You can see the data on the right hand side that the organization that gets their follow up out first has a much higher click to open rate.
- My favorite are paid email campaigns. This is when a third party sends an email out on your behalf. Paid emails (when done well) can be VERY effective. Here are a few considerations: Work with Good vendors – make sure they update their house lists, are flexible and are willing to negotiate. Good vendors will inform you on their database sizes and also will work with you on what lead gen package is best for your business. Another very important point is GOOD Email design – soup to nuts – this is critical - to the right is an example of one of our emails. It has a prominent button above the fold, a clear CTA, and provides a quick over view of the asset. Make sure your offer is relevant and vetted for the audience you are sending to Every send you do is an opportunity to test, learn, and optimize. You can talk to vendors and set up a/bs with your paid sends. Lastly, have a Back up plan if results don’t meet your goal. If you thought your email was going to bring in 500 new names, but your received 200, make sure to have a plan to make up that gap. If it was not a technical problem, some vendors will work with you on a make up send.
- Think about your blog. Do you have a good methodology for collecting names? By adding the sign up for email updates we saw a nice lift.
- From average 14 a week to 145/week - 10X growth!
- Lastly, I will touch on content syndication. Content syndication is another popular B2B internet marketing strategy used to generate leads online. Content syndication is a method by which pieces of content, they can be articles, white papers, ebooks, are shared with permission from the writer. Here are some tips for consideration: 1. Use mid-stage content – this way you are selecting leads that are further along in the buying cycle. 2. Gate content – using forms 3. Have system integration. I set up all Content Syndication programs this way to names instantly are updated in Marketo – versus waiting for a vendor to send you and Excel doc. 4. Get credit. What I mean by this, is just make sure your content is branded so there is no confusion about who it is coming from. 5. Double check your names to make sure they are new. You do not want to pay for names you already have. 6. And lastly, check in with your vendors to see how often they get fresh prospects so your content is not circling the drain with the same folks.
- Why do we nurture? -Fast moving leads only represent 2% -Long term targets represents 98% -Communicating to 2% ignores a large set of our audience Brand awareness and preference Build trust Improve sales efficiency *Increase velocity at which leads flow
- https://docs.google.com/spreadsheet/ccc?key=0ApzbS2Hifm0ZdE54bmo4N2ozLVN1aF9pNU9qYl9jYUE#gid=0
- Engagement Score enables marketers to quickly judge how effectively each piece of content is engaging prospects and customers over time. This proprietary metric takes many factors into consideration, and outputs a single number that gives marketers a fast, apples-to-apples method of measuring content performance… See trend over time, how updates to program improve engagement.
- Lead scoring is a methodology to rank leads to determine their sales readiness. Can score demographics – for example, for our business VP of Marketing = high likelihood to purchase, will be scored higher, student lower Other key element is behavior – what someone does – for example going to your pricing page or engaging with a high value later stage piece of content – score this highly
- Here is a simple example – Latent behaviors – interest Active behaviors – buying intent Because this presentation is focused on the content aspect – you want to think about how can score your content based on the stage. If you are not using lead scoring, think about any intelligence you have on where your customers are on their journey and what makes sense for them.
- After you have mapped out your persona’s buyer’s journey – you then want to think about the story you want to be able to tell So it is essential to start with a point of view and be consistent with that viewpoint. Your customer is the hero – not YOU. Storytelling is not intended to be a “selling” tool; it’s a method of building strong relationships with your customers and potential customers over time. Your story identifies what your passions are and serves as the foundation for all your future content developments. Think thought leadership not talking about your products and services. I like to think about it in 3 phases: Compile your data (should have this from the persona exercise) Create a narrative Have a unifying theme- have a point of view- this should be present across all your assets If you want more details or even templates -> CMI is a great resource
- Map your content to the right buying stage.
- Ask yourself – is your content findable??? It is like if a tree falls in a forest and no one is around to hear it, does it make a sound?" - you can have the best content ever and if no one can find it – so what! Social promotion H1 Tag >2 H2 Tags Metadata – including title, descriptors, keywords Links to related content Alt tags for images This is a very important topic and something to make sure you or folks on your team are current on.
- Keep in mind, content is not just white papers or eBooks! Can be simple and short blog posts, 4 minute videos, infographics, etc. Divide and Conquer Revise & Update Find your Community Find internal writers Hire freelancers
- Think about visual content!
- Every piece of content should have a limited shelf life Ask yourself: How is this content piece performing? Could we rewrite or redesign? Obvious content to retire: Reports that are dated Assets around an event Topic is no longer relevant
- And as you know, marketing measurement is hard. And it’s hard for a number of reasons. First of all, people who buy Marketo don’t simply respond to one of our marketing campaigns and then buy. Rather, it’s a journey where, on average, they are responding to 7 different campaigns. So maybe they come in via a tradeshow, then download a definitive guide, then watch a webinar, and so on. It takes 7 campaign successes before a purchase is typically made. Now, the way the CRM works when measuring marketing success is it ties all revenue from a win back to the ‘source campaign’, which means that the first touch gets all the credit for the revenue. This worked great in the age of information scarcity, because as soon as a lead was generated by that campaign, it was tossed over the fence to sales. But we don’t live in that world anymore. In today’s world, those other 6 marketing touch points along that buyer journey may have had as much or more influence on a purchase decision as compared to the source campaign. So taking those other touch points into consideration when measuring campaign performance can be hard. Further complicating mattes is that there isn’t often just a single buyer. So what if you have two buyers, and both come into the process at different times, through different marketing campaigns. With Marketo, we’ve seen as many as 21 people involved in the buying decision. By the way, we don’t recommend this. So how do you measure ROI with that sort of complexity. It starts with actually having the data. I’ve seen situations where sales will close a large deal, and marketers go through a manual effort to figure out, and show the different ways that marketing helped closed the deal, so that they get some credit for it. And that can get crazy pretty quickly….