Customer Engagement Platform: Smarter Marketing for Better Results - Erik Rehn
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Erik Rehn, Director of Product Management at Marketo, presents how to use Marketo's Customer Engagement Platform to gain better results thru smarter marketing.
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Customer Engagement Platform: Smarter Marketing for Better Results - Erik Rehn
- 1. Customer Engagement Platform: Smarter Marketing for Better Results Erik Rehn Director of Product Management @ Marketo Page 1 #MKTGNATION14 © 2014 Marketo, Inc.
- 2. • Are you in the right place? • Get social with #MktgNation14 • On today’s agenda: • 2:30PM - 3:15PM ... Registration & Networking • 3:15PM - 4:00PM ... Customer Engagement Platform • 4:00PM - 4:30PM ... New Products Demo • 4:30PM - 4:45PM ... Networking Break • 4:45PM - 5:30PM ... Thought Leader Presentation • 5:30PM - 6:30PM ... Networking Reception Page 2 #MKTGNATION14 © 2014 Marketo, Inc.
- 4. Page 4 #MKTGNATION14 © 2014 Marketo, Inc.
- 5. Page 5 #MKTGNATION14 © 2014 Marketo, Inc.
- 6. Customer Engagement Platform: Helping Marketers Navigate The Digital World BUILD RELATIONSHIPS Orchestrate engaging customer experiences mapped to the buyer’s journey DRIVE CONVERSIONS Drive effective conversion from new prospect to sale ATTRACT CUSTOMERS Generate interest in your products and messages PLAN & BUDGET Plan marketing campaigns and track expenses MEASURE & OPTIMIZE Maximize impact of marketing investments
- 7. ATTRACT CUSTOMERS Page 7 #MKTGNATION14 © 2014 Marketo, Inc.
- 8. Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 8 #MKTGNATION14 © 2014 Marketo, Inc.
- 9. Rent vs. Own PPaaggee 99 #mktgna#tMioKnTG14N A T IO@Nm14ikedberger ©© 22001144 MMaarrkkeettoo,, IInncc..
- 10. Search Engine Optimization Maximizes Your Inbound Marketing Investment Attract more of the right prospects to your website and content
- 11. Known Anonymous Page 11 #MKTGNATION14 © 2014 Marketo, Inc.
- 12. Personalized Web and Mobile Experiences Page 12 #MKTGNATION14 © 2014 Marketo, Inc.
- 13. Personalized Web and Mobile Experiences Page 13 #MKTGNATION14 © 2014 Marketo, Inc.
- 14. Personalized Web and Mobile Experiences Page 14 #MKTGNATION14 © 2014 Marketo, Inc.
- 15. BUILD RELATIONSHIPS Page 15 #MKTGNATION14 © 2014 Marketo, Inc.
- 16. Ready to Buy Source: RainToday Need More Nurturing Disqualified Page 16 #MKTGNATION14 © 2014 Marketo, Inc.
- 17. Ready to Buy Source: RainToday Need More Nurturing Disqualified Page 17 #MKTGNATION14 © 2014 Marketo, Inc.
- 18. 327 Days on Average Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
- 19. Nurturing: Building relationships with people over time through engaging conversation Page 19 #MKTGNATION14 © 2014 Marketo, Inc.
- 20. What is an engaging conversation? Relevance Flow Listen Page 20 #MKTGNATION14 © 2014 Marketo, Inc.
- 22. Marketo Results Standard Nurture Triggered Nurture 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%
- 23. DRIVE CONVERSIONS Page 23 #MKTGNATION14 © 2014 Marketo, Inc.
- 24. Scoring • Rank leads to gauge sales readiness • Rank consumers to gauge offer readiness • Method for measuring area of interest Page 24 #MKTGNATION14 © 2014 Marketo, Inc.
- 26. MEASURE & OPTIMIZE Page 26 #MKTGNATION14 © 2014 Marketo, Inc.
- 27. The “Revenue Table” Page 27 #MKTGNATION14 © 2014 Marketo, Inc.
- 28. Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
- 29. Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 Page 29 #MKTGNATION14 © 2014 Marketo, Inc.
- 30. Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics Page 30 #MKTGNATION14 © 2014 Marketo, Inc.
- 31. Screenshot: Marketo Revenue Cycle Analytics Page 31 #MKTGNATION14 © 2014 Marketo, Inc.
- 32. PLAN & BUDGET Page 32 #MKTGNATION14 © 2014 Marketo, Inc.
- 33. Revenue Cycle Modeler # # # # # $ $ Screenshot: Marketo Revenue Cycle Analytics Page 33 #MKTGNATION14 © 2014 Marketo, Inc.
- 34. Marketo Financial Management Plan and Budget Increase visibility and spend to plan
- 35. Marketing Calendar Plan, coordinate and communicate everything marketing is doing
- 36. Marketing Calendar Data Feed Device Access Ongoing Enhancements Embeddable Views Access your Marketing Calendar anytime, anywhere
- 37. Marketing Planner Coming Soon Plan your roadmap of strategic campaigns and events for the year
- 38. Success Page 38 #MKTGNATION14 © 2014 Marketo, Inc.
- 39. LaunchPoint 300+ solutions Social & Content Events & Webinars Mobile Marketing Data & Analytics Lifecycle Marketing
- 42. New Products Demo Page 42 #MKTGNATION14 © 2014 Marketo, Inc.
- 43. Q&A Page 43 #MKTGNATION14 © 2014 Marketo, Inc.
- 44. • What’s next? • 4:30PM - 4:45PM ... Networking Break • 4:45PM - 5:30PM ... Thought Leader Presentation • 5:30PM - 6:30PM ... Networking Reception • Visit Marketo Central • Meet our sponsors • Sign up for the local user group • Mingle with other customers • Stay here and learn more about new products Page 44 #MKTGNATION14 © 2014 Marketo, Inc.
Notes de l'éditeur
- Welcome to Marketo’s Marketing Nation Roadshow – “Innovation in the Nation” I want to thank each and everyone of you for coming today Continuing a conversation we started at Summit – how many attended? I’m [introduce yourself] I’m going to kick it off by talking about how Marketo’s Customer Engagement Platform helps you to be a smarter marketer and get better results It goes beyond Marketing Automation to give you all the tools you need for customer acquisition and loyalty I’m going to talk about how Marketo supports a complete marketing process and give you some best practices you can use to improve your own marketing efforts
- 2:30PM - 3:15PM ... Registration & Networking 3:15PM - 4:00PM ... Customer Engagement Platform 4:00PM - 4:30PM ... New Products Demo 4:30PM - 4:45PM ... Networking Break 4:45PM - 5:30PM ... Thought Leader Presentation 5:30PM - 6:30PM ... Networking Reception
- Innovation is the core catalyst of value creation Without innovation things remain stagnate, they don’t change And if we’ve experienced anything in the last 5-10 years, it’s change
- And with that I’d like to introduce the Customer Engagement Platform It covers 5 core areas that are critical to navigating this new digital world Attract Customers – this is the mission of being found and the need for inbound marketing to generate interest in your products and messages Build Relationships – using customer intelligence and behavior-based tactics to orchestrate engaging experiences mapped to each stage in the buyer’s journey Drive Conversions – creating a tight alignment with sales so that you can effectively convert prospects to customers Measure & Optimize – This is all about connecting marketing to metrics that matter, so you can optimize your efforts, prove the value of marketing and earn a seat at the revenue table Plan & Budget – This is the operations piece, you need a way to plan, coordinate and communicate everything marketing is doing from running programs to spending budget dollars A Customer System of Record that is the source of truth for marketing. I’m going spend the rest of this presentation going through each of these 5 components
- So let’s talk about some of the findings and insights from the data. The first is just how important content is to our customer generation. All the checked channels rely on content as the core driver for capturing new targets.
- Most marketing that evolved from the Mad Men era is all about renting the attention that someone else has built. The superbowl is a perfect example. They get all these people to watch the game, and they rent out people’s attention in 30 second slots for $4.5 M An ad on the side of a website is rented attention. Even a booth at a tradeshow. You’re physically renting space on the floor, and getting people’s attention as they walk by. Now, renting attention is fine, and we still do plenty of it…BUT, it is becoming less and less effective, and harder to do well, in the age of information of abundance, so what you need to in addition, is to own your own attention, and that means publishing your own content. Marketo actually started writing its blog before they wrote a single line of code, and now more than 100,000 people every month who read it. It would cost us at least $10K per shot to reach a similarly sized and similarly qualified audience. We stopped doing a lot of 3rd party tradeshows and only did the big ones, and took that money and put it into our own events. Get 100 people in hotel room for $20K and have them listening to our story for 3 hours, and then give them drinks and food. We’re getting their undivided attention. So for the price of a crummy booth at a tradeshow, we get their undivided attention for 3 hours. Again, we get to own our own attention.
- So what we do is, for each segment, send relevant content to them over time. This is what it looks like inside Marketo, with our innovative Customer Engagement engine. In this case, you can see that we have a different stream for each buying stage. With the CEE, it’s really easy to keep these streams fresh because they don’t work like traditional drip campaigns. They are smarter than that. So for example, when the newest Sirius Decisions report on MA was released, we created a mid-stage content offer for it, and simply dragged it and dropped it to the top of the mid-stage stream. And unlike a drip campaign,in which people can only travel one way down the drip, in this case everyone in the stream will get the sieius decisions report next - because we’ve put it at the top and made it the #1 priority. This makes life for a content marketer pretty easy, and allows us to update our nurturing really quickly. Now, we have another set of streams for each buyer profile, in our case, sales, marketing and an exec. In some cases, we re-use the same content, and maybe the same message. Or we might use the same content, and tweak the message. Or in some cases, the content just doesn’t fit, and we might not use it, or we may use different content. So this is one way we personalize. This is a conversation over time It listens It’s segmented to be relevant As people engage with your campaigns, Marketo’s Customer Engagement engine makes it easy to deliver relevant dialogues with each individual, across channels, at scale. CEE has completely re-invented lead nurturing by making it easy for marketers to drive cross channel conversations that adapt quickly and in real-time based on customer behaviors. Plus, its unique Engagement Score let’s marketers instantly determine what content is engaging audience members, and what’s not. And best of all, you can set communication limits and let the system manage how many messages an individual can get in a specific time period, reducing the number of unsubscribes due to a communication frequency that’s too high.
- Result: Big lift! More on our blog about this: http://blog.marketo.com/blog/2013/06/topic-of-interest-based-nurturing.html
- And we score across 3 dimensions. Fit, interest and where they are in their buying journey. Fit tells me, am I interested in you. Interest tells me, are you interested in me. So they need to be interested in me (or my company), and I need to be interested in them. Actually, this is starting to sound a lot like dating, and that’s because it is. And in dating, timing also plays a role. So, maybe they are locked into another solution. Maybe they don’t have the budget. And this all relates to where they are in the buying stage. So when we think about passing a lead to sales, we need to look at fit, interest and timing (or buying stage).
- This is what it looks like to the SDR or Sales rep inside CRM Leads are sorted by a single score, but reps can if the lead is scored high due to fit or engagement/buying intent, or both Interesting moments show the lead’s activity, so they can have a more relevant conversation This is how we help focus the sales rep on the hottest leads AND enable them to be more effective when they do connect with a prospect or customer
- One of the things we hear a lot in talking with CMO’s is that their biggest pain point was not so much measuring engagement for their campaigns, but rather, having the ability to PROVE the impact that marketing was having on revenue. Sales typically does a really good job presenting their forecast, what they expected to bring in in terms of revenue, and the CRM system made it easy for them to convey these meaningful metrics to the exec team. CMO’s that were unable to prove their impact in terms of revenue, often weren’t part of the discussion when talking about revenue numbers. And CMO’s were sick of being second class citizens in this regard. They wanted to earn their seat at the revenue table. And today, where marketing owns 50% to 80% of the revenue cycle, they should have an equal voice in revenue discussions, and Marketo helps provide marketing with the data they need to have this voice.
- We get a complete view of how this deal was won. Marketing was keeping in touch with Sarah before this opportunity was created. And the story behind this deal, which is a real deal we won, is that Sarah had downloaded a DG, gone to an event, and just before the opportunity was created, went to Manny, someone on her team, and asked him to investigate Marketo. Only when you have a marketing system that can show you all of these touches across the buying journey, can you really understand how marketing is driving revenue.
- So with the multi-touch framework in place, we can now get a deep understanding of how our marketing activities are driving pipeline and revenue for the company. In fact, we can PROVE it, giving that Marketing Director, VP or CMO a seat at the revenue table. Here we see all the channels we showed early when we talked about generating targets, but now we can see how they are generating revenue. I can see how much investment we’ve made in each channel. And notice that we call it investment, and not cost. And this is on purpose, because when we as marketers talk about costs, we are telling the world that we are a cost center and not someone who deserves a seat at the revenue table. When we talk about investments and returns, then we’re saying we belong in those discussions at the revenue table. Ok, so we also show how much multi-touch pipeline, and how many multi-touch opportunities we generated from that channel, using the framework we just discussed.
- To be placed AFTER new product demos