5 Marketing Strategies for Customer Engagement
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Marketers have to adopt new strategies in 2017 to win in the engagement economy. Join Neha Shah, Principal Product Marketing Manager at Marketo, and Kyra Johanson, Associate Product Marketing Manager at Marketo, as they share the results of our first-ever Marketing Benchmark Survey, highlighting what the most savvy marketers are doing to engage their customers in valuable, long-term relationships. You’ll walk away with 5 guiding insights into how to set your strategy for the year ahead. You’ll learn: - What strategies marketers adopt to engage customers in 2017 - How Marketo empowers Marketers to build these authentic relationships
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5 Marketing Strategies for Customer Engagement
- 1. 5 Marketing Strategies for Customer Engagement Kyra Johanson Product Marketing Manager, Commercial Neha Shah Principal Product Marketing Manager, Competitive
- 2. • This webinar is being recorded! Slides and recording will be sent to you after the webinar concludes. • Have a question? Use the chat box and we’ll get to your questions after the webinar. • Posting to social? Use our hashtag - #mktgnation • There is a brief survey after the webinar Housekeeping
- 3. • A new Era, the Engagement Economy • 2017 Marketing Benchmark Report • 5 marketing strategies for customer engagement • Success stories Agenda
- 4. In the age of digital disruption
- 5. 2017 Marketing Benchmark Report North America
- 6. The future of marketing relies on our ability to engage with people in a personal and authentic way…
- 7. 1. Marketers need an engagement platform 60% of marketers have 6 or more technologies in their tech stack
- 8. “In Marketo, there is always a path for turning our vision into a campaign.” • Virtually unlimited integration potentials with rich partner ecosystem An engagement platform to empower the Marketer…
- 9. 2. Quality engagements with ABM • Contrary to popular belief 34% of companies have adopted ABM… • Small 33% • Mid 35% • Enterprise 29%
- 10. Personalize & win with ABM Targeting named accounts with personalized content, emails, ads, and web experiences increases engagement. • 30% of Webinar registrations attributed to ABM • Personalization based on geography drove 400+ registrants
- 11. 3. Predictive content = personalized engagement at scale Email has a 17% higher order value than social channels
- 12. Artificial Intelligence drives engagement Predictive content increases content consumption, nurtures prospects and educates them on product offerings • Accelerate the sales cycles by generating more relevant, qualified leads • Generated $100K in opportunities
- 13. 4. Custom scoring models drive engagement >70% of marketers are using quantitative scoring
- 14. Custom scoring in action…. “We’ve been able to deeply personalize our outreach email campaigns for all relevant prospective student groups…!” • Personalization convinces students to enroll faster • Time to enrolment decreased by 33%
- 15. 5. Multi-Touch reporting drives investment in engagement programs 41%Of marketers measure how their content impacts revenue
- 16. Identifying engagement to drive revenue Daniel Mandel Senior Manager – Marketing Automation “Marketo’s…multi touch attribution report shows me overall program success...” • No manual hacks in Excel (Saving 2 hours a week) • Double down on what works
- 17. Marketo 1. Engagement Platform 2. ABM 3. Predictive Content (Web & Email) 4. Custom Scoring 5. Multi Touch Reporting What is it going to take to win in the engagement economy?
- 20. Thank you!!!
Notes de l'éditeur
- [Neha]
- [Neha] And with that let’s get going!
- [Neha]
- [Neha] In the age of digital disruption it’s no secret that marketers have the challenging task of… Engaging today’s hyper connected customer… Across a growing myriad of channels, devices and technologies At Marketo, we call this concept the “Engagement Economy.” It refers to this new era of digital connection between everyone and everything and embodies the fundamental shift that this has on our relationships between buyers and sellers, and it’s extension across entire organizations including customers, prospects, employees & partners. Markers must engage with all stakeholders in a business and deliver an incredible experience to all. Those that do will thrive in this new era. Anything competitive…. So you might be asking yourself what some of the best marketers adopting today to stay competitive… we’ll I’ve got great news for you!
- [Kyra] We surveyed 1300 marketers in our customer base to learn what marketing strategies they are leveraging to increase customer engagement in this new era (from acquisition to advocacy). During this webinar I’ll we’ll reviewing the 5 marketing strategies that drive the most prospect & customer engagement in the engagement economy (to ultimately impact your bottom line)…
- [Kyra] At the highest level, our survey results indicated that the future of marketing relies on our ability to engage with people in a personal and authentic way… across the full lifecycle. For context Benchmarks help us determine if our strategies, investments and results are comparable to our peers. They can reinforce what we’re already doing and provide a road map for the future. If you want to read the full report it’s available on our site. Now, Let’s dive into the 5 marketing strategies that drive the most engagement!
- [Kyra] Marketing Strategy #1 Marketers Need an Engagement Platform At Marketo we understand that marketers need one engagement platform to aggregate all of the engagement data they collect from prospects and customers in a centralized place to increase the value of previous, current & future investments… As we all know, customers craft their own unique journeys with the brands they chose to engage with. That’s why there are over 4,000 different Martech solutions out there to support those journeys across all possible channels and touch points ranging from mobile, web, direct mail, to SMS and more…. Therefore it Wasn’t surprising that 60% of our survey respondents have six or more technologies in their tech stacks. Given the rapidly changing landscape that marketers are experiencing in the engagement economy, it’s more critical then ever before to support best of breed solutions within one engagement platform. As we benchmark against our competition we see they often claim to have “one platform that rules them all” when in fact this strategy has not actually materialized and their customers are often forced to use acquired solutions that are not best of breed. On the other hand, almost 70% of the Marketo users surveyed feel that their tech stack integrates well. There is a reason why, Marketo is a leader in the Gartner Magic Quadrant for Digital Marketing Platforms…. Our ability to execute (on what we say we’ll deliver on) and our completeness of vision is unprecedented.
- [Kyra] To quickly double down on this I’ll share how our engagement platform empowers the marketing team at Fivestars Fivestars Loyalty, the most widely used customer loyalty network in North America, has a mission of “turning every transaction into a relationship.” Fivestars understands the significance of authentic relationships on the bottom line and that’s why they leverage our platform as a hub to power their marketing vision… According to the marketing team at Fivestars, Marketo provides unlimited integration potentials via our best of breed partner ecosystem. The last thing you want as a marketer is to feel functionally constrained being forced to leverage what a larger company may force you too use… we want marketers to leverage the right solutions so they can succeed in their rapidly changing environments. Being able to leverage new tools when the time comes and pull that data into one hub to drive engaging campaigns.
- [Kyra] Marketing Strategy #2 Marketers drive quality engagements with ABM As we all know, in an era where personalized and authentic relationships are key to driving revenue, engagement strategies must focus on quality not quantity. With ABM It’s all about quality customer engagements targeted to specific accounts…vs traditional lead generation where marketers capture as many leads as possible, and then qualify them later in the funnel. That’s why we found 34% of marketers are adopting an ABM strategy in our benchmark survey to align marketing and sales and ultimately build authentic relationships with the accounts that really matter at scale rather than attracting a huge volume of leads that never convert into sales. WE ANTICIPATE that MORE AND MORE MARKETERS will ADOPT THIS strategy AS NEW TECHNOLOGY like Marketo ABM it’s NOT A RESOURCE DRAIN, Your team can actually be more strategic and most importantly better align with sales.
- [Kyra] SchoolDude adopted ABM to personalize interactions with their top prospects to increase sales and ultimately champion a shift from traditional demand generation to a revenue marketing model. Targeting these named accounts with personalized content drove registrations for webinars and local events through the roof. A great validation of that is through the voice of the customer… G2 Crowd that leverages customer reviews to rank top products just named Marketo (Jan. 24, 2017) THE Leader in the Account Based Marketing (ABM) category.
- [Kyra] Marketing Strategy #3 Predictive Content leads to Personalized Engagement at Scale In our survey we found that the channels marketers are choosing to invest in the most (website and email) provide a higher return on investment and help marketers earn more budget. According to McKinsey, despite what some may say about email vs. social trends, email marketing is still one of the most effective ways to market to known audiences of prospects and customers, especially if you target accounts. In fact, email has been proven to prompt purchases three times more often than social media – and the average order value is about 17% higher. We support email & web channels particularly well with predictive content to drive personalized experiences… What does this actually look like? imagine your customer scrolls through your website and has a personalized scroll where a predictive engine surfaces content in real time that is relevant to them In email, imagine your prospect or customer sees clickable content in their email that’s relevant to them based on demographic and firmographic data so that they are more engaged with your content and that engagement ultimately feels more authentic.
- [Kyra] Hatch is a great example of how this artificial intelligence is driving engagement. They take advantage of Marketo’s predictive content recommendations to automatically increase content consumption, nurture prospects and educate them on Hatch product offerings. This strategy has accelerated the sales cycles and generated more relevant, qualified leads. Ultimately resulting in The generation of a 100K of new opps And $400K in open opportunities from their top-performing campaign of which 1/3rd led to sales
- [Kyra] Marketing Strategy #4 Custom scoring models drive personalized engagement… That’s why…. Over 70% of marketers are using quantitative scoring models to drive personalized engagement Every business needs its own scoring model because not all prospect & customer behaviors are created equal (and over 75% of new leads are not sales-ready). As product focus and sales & marketing strategies shift, marketers have to have a system flexible enough to quickly adjust lead scores. As you can see from the graph 57% of marketers are constantly adjusting their scoring models. OUR BEST PRACTICE RECOMMENDATION IS THAT YOU SET a CADENCE WITH SALES TO INCOPRPOATE FEEDBACK AND ADJUST YOUR SCORING MODEL about once a quarter…. Companies need scoring models that can listen for high level scores that can drive someone through early, mid, and late stages of the buyer journey as well as listen for other specific behaviors that could indicate buying signals (and these constantly change). Scoring adjustments keep sales focused on leads that drive revenue
- [Kyra] LA Film schools marketing team recently adopted marketo so that they could listen for very specific behaviors so that their admission teams know who to reach out to and when to do so. The results speak for themselves as ….. Time to enrollment has decreased from 3-4 month to 2-3months (33%). They can listen for early, mid and late stage prospective student interest, surface that information to sales/admissions and it’s reducing time to enrolment by 33%.
- [Kyra] Marketing Strategy #5 Multi-Touch Reporting drives investment in MORE Engagement programs… Multi-touch reports highlight which programs drive conversions across the customer journey so that marketers can double down and justify budgets on programs that drive more personalized engagement and ultimately more revenue vs. those that do not. (41% of) marketers using Marketo to measure how their content drives ROI from early- to late-stage with an emphasis on being able to prove the business value of their content.
- [Kyra] Sungevity leverages multi-touch attribution reporting to understand what programs, campaigns and content work best across every touch point. Rather than having to piece meal a report together in excel Marketo enables the marketing team to easy surface insights on which programs are driving revenue. Now that the team isn’t spending hours each week on manual efforts they can spend that time planning and executing on more campaigns that drive even more prospect & customer engagement.
- [Neha] why did I review all of these benchmark stats and success stories? I want to leave you with this… Marketo natively supports the 5 engagement strategies the most advanced marketers are taking on today to drive personal and authentic relationships at scale It’s going to take all of these options out of the box to remain competitive in today’s engagement economy…
- Q&A… [Kyra] Asks [Neha] Answers What type of marketers participated in the benchmark survey? The marketers who participated come from: B2B & B2C, Comm & ENT, range from practitioners to executive, 1300 marketers What was the previous solution Sungevity used? Pardot...Multi-touch attribution reporting is one of the key reasons they came to Marketo – with multi-touch attribution reporting – they are able to understand what programs, campaigns and content work best across every touch point. We’re a salesforce shop and we’re interested account based marketing. Can you help highlight how does Marketo ABM solution connect with Salesforce? Marketo ABM natively syncs with salesforce CRM. Sales team can determine key accounts in the salesforce and it reflects automatically in Marketo. Marketing team can then leverage for the ABM marketing strategies. This leads to better marketing and sales alignment. We’re a salesforce user and are currently using eventbrite to power our events, in addition to supporting web & email what do you drive there? We have a native check in app that’s great for fee promotional events (LA Film uses our event app). We also integrate with Eventbrite and they use Marketo so we’re huge fans and often bring them into deals were customers are looking to support paid events.
- [Neha] Five Reasons to Attend Marketing Nation Summit Learn from executives on Leading in the Engagement Economy Industry Insights from notable brands, such as San Francisco Giants, Annuitas, CA Technologies, Gartner, Sitecore, RSA, and many others. “The Future of AdTech at Marketing Nation Summit” brought to you by Marketo and Adweek. Learn from leading brands and agencies about the collision between marketing technology and advertising technology. Performance by four-time Grammy Award-winning band, Train in an exclusive concert only open to conference attendees. Inspirational keynotes from notable celebrities