Marketo presentation on Marketing Automation during the Masterclass on Tour "Digital & Social Marketing" - Dublin (September 2013)
More information at MasterclassOnTour.com
Marketo provides the leading cloud-based marketing software platform for companies of all sizes to build and sustain engaging customer relationships. Marketo makes marketing software that is:easy to adopt and usepowerful enough to solve real-world challengescomplete, for our customers and for their customers
Marketo was one of the fastest growing private companies, and is now one of the fastest growing public companies, sustaining over 130% compounded annual revenue growth.We expect our customer, partner, and community member counts to continue growing rapidly as recognition of the need/opportunity to graduate to a modern marketing approach accelerates among marketers.
Our customer list speaks for itself…but others in the industry are often talking about Marketo. This is just a sampling of acknowledgements made so far in 2013 regarding Marketo’s industry leadership.
So how are we responding to this? Not good.So between the marketers that are still batching and blasting, or sending personalized messages that aren’t relevant right now, this is kind of what it feels like to be a consumer today. On any given day, the average customer will be exposed to 2,904 media messages, will pay attention to 52 and will positively remember 4 – SuperProfile 2010
We believe that buying has changed forever.Not that long ago, there were few 3rd party sources of information – information scarcity – which meant that a buyer had to get most of their information from sales. It also meant we lived in a world of attention abundance, with fewer channels competing for a buyer’s attention. But now, there is an explosion of readily available information— so much that 90% of the data in the world today has been created in the last two years alone.All this data = buyers today are more empowered. The Web provides them with instant information gratification. They can access detailed specs, pricing, and reviews about goods and services 24/7 with a few flicks of their thumbs. Meanwhile, social media encourages them to share and compare, while mobile devices add a wherever/whenever dimension to every aspect of the experience. Result: Forrester Reports that 65-90% of buying process is complete when consumer walks into store/branch/dealer, or contacts sales. This translates to an organizational power shift from Sales to Marketing, and a corresponding responsibility shift to Marketing for a much greater share of the buying cycle.All this requires deep changes in how we market.
From the mission of Marketing, to how Marketing’s impact is measured, today’s CMO and her leadership team need to make sure they understand and are taking advantage of modern marketing approaches to align with the behavior of today’s buyer and to stay competitive. In particular, marketers need to make a shift from demographics-based marketing to behavior-based marketing, and from batch & blast tactics to continuous relationship-building and nurturing.
Marketo’s customer base is over 2,500 strong, with good representation across verticals, geographies, and size of company.
The areas of transformation taking place in Marketing create a roadmap for defining the solution modern marketers need:Mission of being found = need for Inbound MarketingCustomer intelligence and tactics that are behavior-based and deliver a continuous relationship with customers = need for Relationship MarketingMeasurement with owned, Big Data = need for Analytics & MeasurementIn addition, marketers need a solution that delivers:Revenue Effectiveness to build and maintain tight alignment between Marketing and SalesA Customer System of Record that is the source of truth for marketing.
Marketo provides the de facto cloud-based marketing platform for modern marketers, helping them make the shift to behavioral-based marketing that spans today’s digital, social, mobile, and offline channels.Marketo offers 5 key applications that sit on top of the Marketo platform, including applications for marketing automation, social campaigns, sales insight, revenue cycle analytics, and marketing planning & management. Just some of the functionality provided by these applications include:Email MarketingRelationship Marketing Lead ManagementContent MarketingScoringNurturingSocial CampaignsEventsLanding PagesCampaign ManagementFinancial ManagementInbound MarketingReporting & Analytics
Start with the funnel. We really have marketing initiatives dedicated to each part of the funnel.
Many names are not yet our friendsNames are NOT leads, don’t call them leads
Majority of leads NOT sales ready. This is OK since human interaction is part of developing the relationship (nurturing). These Lead are recycled back to Target for additional nurturing until Sales Ready.
Sales does on call, and converts if Opp
This is how Marketing gets paid… carry a quota for Opportunity created.Only Sales can create the opportunities. [Requires very solid definitions of what is an opp, since people get paid on it – can’t be subjective.]
Herbert Simon, one of the early leaders in attention economics, said “A wealth of information means a dearth of whatever consumes information – a wealth of information creates a poverty of attention.” In traditional marketing, companies needed to rent (or beg) attention from other people’s media. Whether it’s a display ad on a website, a booth at a tradeshow, or an email sent to a third-party list, companies are essentially “renting” attention that someone else built. This can be effective, but it’s also expensive – and become less effective with attention scarcity. In contrast, with inbound marketing, companies build up their own audience and attract their own attention. In other words, inbound marketing is about applying more brains, not more budget, to drive revenue.
Map content to the buying stage {keep it short}
See customer preso
Another example – these roadshows!!
HERE IS THE MONEY SLIDE! (Literally and figuratively.)Summarizes our ROI… = PPC + 3rd party emails
OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
For twitter: For every one self-serving tweet, you should re-tweetone relevant tweet and most importantly sharefour pieces of relevant content written by others. – Joe Pulizzi and TippingPoint labs
Here’s an example of how Marketo created even more relevance.Topic of interest nurturing: Nurture tracks based on four different topics that we thought our customers were interested in (email, social marketing, marketing automation, and Microsoft Dynamics). Welisten for signs that may be interested in this (events attended, web visits, keywords used etc.), and if so assign them to the specific track nurture track. If they get to the end of that specific track, we put them back to regular until they do something else specific.
Result: Big lift!More on our blog about this: http://blog.marketo.com/blog/2013/06/topic-of-interest-based-nurturing.html
Brings us to lead scoring… also a complicated topic… also wrote a book. I don’t have a single word to sum it all up, but I do have a matrix. Note: worked at BCG – lots of 2X2 matrices in this section.Fit vs interest == if only focus on who you are interested in, you may be the sad guy in high school who wonders why the head cheerleader won’t go out with him… you need to pay attention to who’s interested in you. At Marketo, we keep our forms short, and tend to trust the info we can infer more than what someone tells us… For Fit, we focus primarily on data append using Reachforce and Data.com to figure out industry and company size. For interest, we trust behaviors…
Get rid of “old sort score”
OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
Next, let’s focus on “Investment” side of ROI. Notice it’s investment, not cost. You “invest’ in growth, marketing is a growth driver.-Then you enter and track your budget plan-as invoices come in from your financial system, you can map them to line items-you can also map your Marketo programs to specific budget categories or line items-you can track planned, forecasted and actual spend, and indicate whether forecasted spend is committed or optional
Step 1: Important to track all touches
Step 1: Important to track all touches
Here we see what works for Marketo over the last 12 months to generate prospects. Explain columns…Website+Blog = 38% of all oppsBut I’d be a bad stock picker if I put all my money in one stock, and I’d be a bad marketer if I bet all my prospect generation on one source. The reality is you need a portfolio of prospects and channels to achieve the best results. In fact, Marketo runs an average of 40 different Prospect generating programs each and every month across all these sources.
ModelNote Success Path and Detours; Inventory and SLAs
Google Analytics for Revenue
Marketo provides the de facto cloud-based marketing platform for modern marketers, helping them make the shift to behavioral-based marketing that spans today’s digital, social, mobile, and offline channels.Marketo offers 5 key applications that sit on top of the Marketo platform, including applications for marketing automation, social campaigns, sales insight, revenue cycle analytics, and marketing planning & management. Just some of the functionality provided by these applications include:Email MarketingRelationship Marketing Lead ManagementContent MarketingScoringNurturingSocial CampaignsEventsLanding PagesCampaign ManagementFinancial ManagementInbound MarketingReporting & Analytics
Our customer list speaks for itself…but others in the industry are often talking about Marketo. This is just a sampling of acknowledgements made so far in 2013 regarding Marketo’s industry leadership.
