Art Meets Science: How Marketers Can Transform Their Results With Predictive Capabilities
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Artificial intelligence has demonstrated that it has powerful potential across many industries. According to reports, however, most marketers don't realize that AI and Machine Learning can be used to dramatically streamline and scale marketing efforts. Marketo Engage makes it simple and seamless to implement AI in your predictive marketing strategy. Watch as Alexandra Quick (Product Marketing Manager at Adobe) and Badsah Mukherji (Senior Manager, Marketo Engage Product Management at Adobe) share their insights around Artificial Intelligence and the many ways your team can put it to work within Marketo Engage.
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Art Meets Science: How Marketers Can Transform Their Results With Predictive Capabilities
- 1. WEBINAR Art Meets Science—How Marketers CanTransform Their Results with Predictive Capabilities Understand who is ready to buy now and who needs more time
- 2. Speakers ©Copyright Adobe, 2020 2 WEBINAR | PREDICTIVE AI IN MARKETING Alexandra QuickAlexandra Quick Product Marketing Adobe Badsah Mukherji Product Management Adobe
- 3. Housekeeping Copyright © 2020 Adobe. 3 •Questions? Use the Q&A box on your screen and we will get to as many as we can at the end of the session. •The webinar is being recorded, we will send you the recording following the webinar •Posting to social? Use our hashtag #mktgnation •Interested in a personalized demonstration of Marketo Engage’s Predictive Capabilities? Click “Request a Personalized Demo” on your console
- 4. AI is proven to help marketing leaders get better results © Adobe, 2020 4 WEBINAR | PREDICTIVE AI IN MARKETING Top-performing companies are more than twice as likely to be using AI for marketing of marketers who have adopted AI say it delivers increased ROI2x 42%
- 5. Why is AI so valuable? © Adobe, 2020 5 WEBINAR | PREDICTIVE AI IN MARKETING It can do all of this: • Rapidly perform data analyses • Learn from past performance • Make improvements in real time • Create more successful strategies • Get better results
- 6. Some things you can do with AI in marketing © Adobe, 2020 6 WEBINAR | PREDICTIVE AI IN MARKETING Personalize content • Match customers and prospects to personalized content • Change content strategy in real time Identify audiences for events • Engage only likely audiences to lower unsubscribes and opt-outs • Replicate past successes to maximize attendance Attribute revenue and pipeline to marketing • Provide full-funnel custom attribution modeling backed by machine learning to recommend the ideal model Rank engaged accounts • Identify the accounts that are most likely to convert, as well as those that need more nurturing
- 7. Content personalization is hard without AI © Adobe, 2020 7 WEBINAR | PREDICTIVE AI IN MARKETING • Large amounts of content must be located and tagged • Data must be collected from multiple channels • Content interactions must be mapped to leads and accounts • Putting it all together in an actionable way is hard
- 8. How AI makes it easier © Adobe, 2020 8 WEBINAR | PREDICTIVE AI IN MARKETING • Automatically discover and tag content • Select and approve assets for content recommendations • Set goals to measure content performance Predictive Content is the AI-powered content personalization capability in Marketo Engage
- 9. Audience selection is hard without AI © Adobe, 2020 9 WEBINAR | PREDICTIVE AI IN MARKETING • Recycle old audience lists from successful events • Send email blasts to entire lists and risk unsubscribes and opt-outs • Contacts may be stored in multiple databases • More art than science
- 10. How AI makes it easier © Adobe, 2020 10 WEBINAR | PREDICTIVE AI IN MARKETING • Predictive filters • Historical and real-time customer data • Works with segmentation triggers and filters Predictive Audiences is the AI-powered audience engagement capability in Marketo Engage
- 11. Attributing revenue and pipeline to marketing is hard without AI © Adobe, 2020 11 WEBINAR | PREDICTIVE AI IN MARKETING • Today’s buyer’s journey is complex and encompasses an average of 7 to 8 touchpoints1 • The buyer’s journey is increasingly nonlinear • Criteria for MQLs are subject to change 1 “B2B and B2C Companies Can Face Similar Hurdles with Complex Buyer Journeys,” Forrester, May 2019.
- 12. How AI makes it easier © Adobe, 2020 12 WEBINAR | PREDICTIVE AI IN MARKETING • Look at multiple milestones—from first touch to deal closing—together • Weight the importance of each stage • Over time, AI can adjust your attribution weightings to make them more accurate Bizible harnesses AI to improve revenue and pipeline attribution
- 13. Knowing which accounts are ready to buy is hard without AI © Adobe, 2020 13 WEBINAR | PREDICTIVE AI IN MARKETING • Purchase intent is the distillation of many different behavioral signals • The most reliable purchase intent signals change over time • Determining purchase intent for large accounts means looking at the behavior of many different individual leads
- 14. How AI makes it easier © Adobe, 2020 14 WEBINAR | PREDICTIVE AI IN MARKETING • Look at all stages in the sales funnel • CompareAI predictions with your chosen account lists • Consider multiple models of purchase intent— and see which are most accurate over time – Best-fit, upsell/cross-sell, quick win lists Account profiling uses AI to rate the purchase intent of accounts in Marketo Engage
- 15. Despite all this, AI adoption is low among marketers © Adobe, 2020 15 WEBINAR | PREDICTIVE AI IN MARKETING Source: Wall Street Journal, https://blogs.wsj.com/cio/2020/02/14/high-performers-show-the-way-toward-ai-adoption/ of companies have adopted AI, yet only… of marketers are using it 80% 18%
- 16. Often, marketers don’t know where to begin © Adobe, 2020 16 WEBINAR | PREDICTIVE AI IN MARKETING Data Technology People Insights • Access to data • Ease of data prep • Talent • Collaboration • Transparency • Consumption Complexity issues • ML/AI technologies • Infrastructure
- 17. Ideally, you need an integrated stack © Adobe, 2020 17 WEBINAR | PREDICTIVE AI IN MARKETING Adobe Experience Cloud Applications AdobeAdvertising Cloud Advertising AdobeAnalytics Cloud Analytics | Audience Manager Adobe Marketing Cloud Experience Manager | Target | Campaign | Marketo Engage Services Application Services Platform Adobe Sensei—Data Science Workspace Intelligent Services Adobe Experience Platform
- 18. © Adobe, 2020 18 WEBINAR | PREDICTIVE AI IN MARKETING Key takeaways Lead ExperienceWave with AI Apply AI-powered decisioning at every level Implement data strategy to maximize value from AI Activate AI across all channels
- 19. © Adobe, 2020 19 WEBINAR | PREDICTIVE AI IN MARKETING Q&A
- 20. © 2020 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. 20 WEBINAR | PREDICTIVE AI IN MARKETING Thank you
Notes de l'éditeur
- Alexandra Thanks so much, Jess! To kick us off, I wanted to just contextualize why AI is so important and how it’s being received and used by marketers today AI has become quite the buzzword lately, but it really is proven to help marketing leaders get more results In fact, top-performing companies are more than twice as likely to be using AI for marketing compared to lower-performing companies AND 42 percent of marketers who have adopted AI say it has delivered an increased return on marketing spend. But, only 18% of marketers are actually using AI. We’ll get into more of the why later, but we know AI can be really intimidating, can seem resource-intensive and time consuming to deploy and seems to have a steep learning curve
- Alexandra So, even though adoption is a challenge in the market today, how and why is AI so valuable? AI opens a world of possibilities, including the ability to really precisely target customers and anticipate their needs And, of course, AI can learn and action learnings much more quickly than any human ever could through: Rapid data analysis Learning from past performance Making improvements in real-time and more that result in more successful strategies and ultimately, better results
- Alexandra We’ve really thought about how to integrate and embed AI into Marketo Engage to help marketers achieve some of those things we just talked about And some of the ways we’ve done that is through: AI-powered content personalization to action a content strategy in real time and match customers and prospects to the right content for them Identifying the right audiences for events and email to lower unsubscribes, increase conversions, and replicate past success from previous campaigns Use AI to build models that attribute revenue and pipeline to marketing in the right way for your business And, using AI to rank engaged accounts for your ABM strategy Now let’s dive into some of these areas
- Alexandra We all know content personalization is effective But to put some numbers around it,86% of consumers say personalization impacts their purchasing decision. But the process of delivering personalized content is really time-consuming and manual, which makes it almost impossible to scale effectively On top of that, having a good sense of what all of your content is, how it’s performing, and the ROI on your content is even harder And, just as you think you’ve figured it out, content ages, trends change, buyers move through the funnel – meaning you have to manually dig through the data to adapt your strategy and map your content All of this is just really overwhelming, but AI can definitely help
- Badsah Using AI and machine learning, you can automatically discover and tag your existing content and then select and approve assets that you want to pull in for content recommendations. You can exclude content that may be highly specific to certain use cases or outdated. You can set also business goals to measure your content performance. Then, let the capability run in the background to get personalized, recommended content for different audiences for your web pages and emails.
- Alexandra Until recently, crafting an invite list for live events and webinars has been more of an art than a science And, with the crazy amount of virtual events going on now, we all know how important getting the right audience is Often times, it seems easiest to send email blasts to broad lists or recycle the same audience from a previous event But, this lack of careful targeting can lead to a high volume of unsubscribes and low conversions – doing way more harm than good It can be hard to know where to start, but AI can help identify the right people to include and some audience members you may want to exclude
- Badsah You can now put automation and AI to work for you to perform intelligent audience segmentation. It can help you create lists based on each user’s predicted likelihood to register or attend a certain event. Then you can choose to invite people with a high likelihood to register only. It can also help you identify people in your list who are likely to unsubscribe and create lookalike lists based on people who attended similar events.
- Alexandra Attribution is always a hot-button topic Knowing which activities in the journey are really driving revenue and pipeline and attributing them accordingly can be really difficult With ever-increasing touchpoints and non-linear buyer journeys, attribution is only getting more daunting Machine Learning and AI can help with this too!
- Badsah Using machine learning, you can create custom attribution models for complex buyer’s journeys that become more accurate over time. Choose milestone stages to include (such as First Touch, Lead Creation, Opportunity Creation, and Closed-Won deal). Then, you can set the percentage weighting for each stage in the custom attribution model. Machine learning calculates attribution weighting based on the relative importance to winning a deal based on what happened at each custom stage.
- Alexandra One of the most critical inputs for Account-Based Marketing strategies is purchase intent But, capturing, distilling, analyzing, and actioning intent data is a huge undertaking Using AI to help understand different purchase intent and translate that to actionable data is huge for success with ABM
- Badsah You can now use AI capabilities to determine which accounts you should target for your ABM strategy and to validate your existing target account lists. Upload a list to train your AI model, select which account you want to analyze, and view model results, scores, and fit indicators. This intelligence makes it fast and easy to create a Best-fit List (based on your recent closed/won accounts); an Upsell/cross-sell List (based on similar attributes of existing customers who purchased upsell/cross-sell products), and a Quick Win List (based on similar attributes of your recent high-velocity close/won accounts).
- Badsah And yet, only 18% of marketers are actually using AI. Even though 80% of companies in a recent global survey said they’re using AI Why? (Source: Wall Street Journal, https://blogs.wsj.com/cio/2020/02/14/high-performers-show-the-way-toward-ai-adoption/)
- Badsah Companies don't know where to start with AI, because…. Data is scattered across many systems and it's hard to consolidate to get an overall view of customers or groups. There's a lot of ML/AI technologies, which to choose? Hard to find people who have ML/AI and data science experience internally. Hard to define what problems you want to solve, what questions to ask, what insights your company needs to look for.
- Badsah Machine learning and AI built into a marketing automation platform open up a world of possibilities. It requires integration of your data from all marketing touchpoints. Your marketing automation platform should have its own database, native CRM integrations, and pre-built integrations to hundreds of marketing technologies that collect customer data. The environment should enable you to quickly move from content design to delivery whenever you discover a new insight. With an integrated marketing automation stack and the many new layers of data it brings, you are creating an environment where AI can deliver powerful new insights and you can respond to them with an informed and flexible marketing strategy in real-time.
- Badsah AI is enabling a much more automated, personalized, and targeted customer experience To lead with a great customer experience, you should be using AI. Apply it at every level of the customer experience. To enjoy the benefits of AI, implement a good data strategy; data integration for a unified customer profile. Activate AI across all of your channels.
- Badsah "that's all we have for today, so with the last few minutes would love to hear any questions that came through” Both: Q&A – canned questions I’ve heard a lot about Adobe Sensei - how does that play into the Marketo Engage AI tools you went over? Both Predictive Content and Predictive Audiences are powered by Adobe Sensei and, as we continue to build AI capabilities, we will absolutely leverage Adobe Sensei How can I make sure my data will work for some of these AI and Machine Learning models? With anything leveraging Artificial Intelligence, you get out what you put in, so the better data you put in, the better insights that you’ll derive from the models How is AI in Marketo Engage different than other offerings in the market? For the items we covered today in Marketo Engage and Bizible, we’ve made it a priority to have easy onboarding and easy set up, so it shouldn’t take a lot of data manipulation or organization to get up and running and reduce the time to value over all – really reducing the learning curve and intimidation that can come along with AI We also want to make AI foundational and accessible – for example, with Predictive Audiences, all of those features are embedded in existing workflows that marketers are already doing everyday, so really making it easy for marketers to leverage AI everyday and see benefits in the things they are already working on rather than creating more work