Marketo Secret Sauce - Shyna Zhang
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Shyna Zhang, Sr. Product Marketing Manager at Marketo, dives into Marketo's "secret sauce" and discusses how you can achieve better marketing results.
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Marketo Secret Sauce - Shyna Zhang
- 1. Page 1 © 2014 Marketo, Inc.#MKTGNATION14 Marketo Secret Sauce: Modern Marketing Case Study Shyna Zhang Sr. Product Marketing Manager
- 2. Page 2 © 2014 Marketo, Inc.#MKTGNATION14 What is the Marketo Secret Sauce?
- 3. Page 3 © 2014 Marketo, Inc.#MKTGNATION14
- 4. Page 4 © 2014 Marketo, Inc.#MKTGNATION14 ABUNDANCE INFORMATION
- 5. Page 5 © 2014 Marketo, Inc.#MKTGNATION14 Adaptive Marketer Image: Hugh MacLeod, www.gapingvoid.com
- 6. Page 6 © 2014 Marketo, Inc.#MKTGNATION14 BUYEVALUATELEARNENGAGE TRUSTENJOYBUY ADVOCATE RENEWVALUEUSEOWN
- 7. Page 7 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Guided Journey: A Revenue Cycle TOFU MOFU Opportunity Customer Lead Sales Lead Nurturing Database BOFU
- 8. Page 8 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target OpportunityCustomer Lead SalesLead Nurturing Database Retain Advocate Enable Adopt Marketo’s Guided Journey: A Revenue Cycle Drive customer success to keep and grow relationships
- 9. Page 9 © 2014 Marketo, Inc.#MKTGNATION14 Awareness WebVisitor A Marketo customer example In-person Appointment Customer Converted Engaged Nurturing Database Advocate Adopt Retain
- 10. Page 10 © 2014 Marketo, Inc.#MKTGNATION14 Why try to guide individual journeys? • Because your marketing will appeal to more people • Because your marketing will keep more people engaged • Because your marketing will keep in touch with people even when they aren’t looking to buy • Because your marketing will create more advocates
- 11. Page 11 © 2014 Marketo, Inc.#MKTGNATION14 Awareness and Top of Funnel
- 12. Page 12 © 2014 Marketo, Inc.#MKTGNATION14
- 13. Page 13 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
- 14. Page 14 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
- 15. Page 15 © 2014 Marketo, Inc.#MKTGNATION14 Blog, e-books, research data, funny videos, curated lists, infographics, webinars Thought leadership and enjoyable content to build brand, awareness, and desire Tools that help buyers find you when they are looking for solutions Company-specific information to help evaluate and reaffirm selection Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports Pricing, demos, services information, 3rd party reviews, customer case studies Early Stage Middle Stage Late Stage
- 16. Page 16 © 2014 Marketo, Inc.#MKTGNATION14 Durable Relationships over Time
- 17. Page 17 © 2014 Marketo, Inc.#MKTGNATION14 BUYEVALUATELEARNENGAGE TRUSTENJOYBUY ADVOCATE RENEWVALUEUSEOWN
- 18. Page 18 © 2014 Marketo, Inc.#MKTGNATION14 Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012. Buyer Led
- 19. Page 19 © 2014 Marketo, Inc.#MKTGNATION14 Purchase ready (Pass to sales) Source: RainToday 25% 50% 25% 2% Need More Nurturing Disqualified
- 20. Page 20 © 2014 Marketo, Inc.#MKTGNATION14 Nurturing: Building durable relationships with prospects and customers over time through engaging conversations
- 21. Page 21 © 2014 Marketo, Inc.#MKTGNATION14 What isn’t an engaging conversation?
- 22. Page 22 © 2014 Marketo, Inc.#MKTGNATION14 When it comes to marketing, nobody wants to get blasted
- 23. Page 23 © 2014 Marketo, Inc.#MKTGNATION14 Marketing is NOT a gumball machine!
- 24. Page 24 © 2014 Marketo, Inc.#MKTGNATION14 What is an engaging conversation? • Communications flow one to the next • Listens and responds • Relevant and meaningful
- 25. Page 25 © 2014 Marketo, Inc.#MKTGNATION14 More Targeted Emails are More Relevant 0 50 100 150 200 250 300 350 400 100 1000 10000 100000 EngagementScore Email Send Size Source: 100s of Marketo campaigns
- 26. Page 26 © 2014 Marketo, Inc.#MKTGNATION14 A B C D 1 2 3 Stages 1. BUYING STAGES • Early: Be a Better Marketer • Mid: Why Marketing Automation • Late: Why Marketo • Customer: Success 2. BUYING PROFILES • B2B Marketing • Consumer Marketing • Sales
- 27. Page 27 © 2014 Marketo, Inc.#MKTGNATION14 A B C D 1 2 3 Stages 1. BUYING STAGES • Early: Mortgage Considerations • Mid: Why Now? • Late: Why Us 2. BUYING PROFILES • First-time Home Buyer • Re-financer • Home Underwater
- 28. Page 28 © 2014 Marketo, Inc.#MKTGNATION14
- 29. Page 29 © 2014 Marketo, Inc.#MKTGNATION14 Behavioral Targeting for Maximum Relevance: Topic of Interest Triggers • Attends event • Downloads content • Click email • Fills out form • Score is changed Email Social Content Technology
- 30. Page 30 © 2014 Marketo, Inc.#MKTGNATION14 Standard Nurture Triggered Interests 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%
- 31. Page 31 © 2014 Marketo, Inc.#MKTGNATION14 Scoring People and Managing Leads
- 32. Page 32 © 2014 Marketo, Inc.#MKTGNATION14 Scoring Defined Fit Interest Lifecycle Stage “Methodology for ranking people in order to determine their readiness to buy” Nurture DisqualifyNurturePass to Sales Send right offer
- 33. Page 33 © 2014 Marketo, Inc.#MKTGNATION14 • 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
- 34. Page 34 © 2014 Marketo, Inc.#MKTGNATION14 Stars and Flames show priority Full list of Interesting Moments
- 35. Page 35 © 2014 Marketo, Inc.#MKTGNATION14 The Customer Lifecycle
- 36. Page 36 © 2014 Marketo, Inc.#MKTGNATION14 BUYEVALUATELEARNENGAGE TRUSTENJOYBUY ADVOCATE RENEWVALUEUSEOWN
- 37. Page 37 © 2014 Marketo, Inc.#MKTGNATION14 Customer Nurture Streams
- 38. Page 38 © 2014 Marketo, Inc.#MKTGNATION14 X-S Scoring Based on Product Interest (PIS)
- 39. Page 39 © 2014 Marketo, Inc.#MKTGNATION14 Revenue Analytics
- 40. Page 40 © 2014 Marketo, Inc.#MKTGNATION14
- 41. Page 41 © 2014 Marketo, Inc.#MKTGNATION14
- 42. Page 42 © 2014 Marketo, Inc.#MKTGNATION14 Why Measuring Return is Hard • Multiple touches. Seven touches needed to convert a first time visitor into a sale • Unclear success. Measuring campaign success is easy. But what about real success? • Multiple influencers. A B2B buying committee has 5-21 people
- 43. Page 43 © 2014 Marketo, Inc.#MKTGNATION14 Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
- 44. Page 44 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle TOFU MOFU Opportunity Customer Lead Sales Lead Nurturing Database BOFU
- 45. Page 45 © 2014 Marketo, Inc.#MKTGNATION14 Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics
- 46. Page 46 © 2014 Marketo, Inc.#MKTGNATION14 Customer Revenue Cycle Screenshot: Marketo Revenue Cycle Analytics
- 47. Page 47 © 2014 Marketo, Inc.#MKTGNATION14 Screenshot: Marketo Revenue Cycle Analytics
- 48. Page 48 © 2014 Marketo, Inc.#MKTGNATION14 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. 2,000 270 *Opps is bigger than SQLs because includes outbound and partner referrals SDR capacity driven Inbound/ Programs 120,000 (900K DB Total) New Names New SQLs 922 2.4% 1.9% 75% Wins 35% win
- 49. Page 49 © 2014 Marketo, Inc.#MKTGNATION14 Use Metrics to Set & Justify Budgets New Trials 15,000 Inventory Of Active Trials 50,000 Engaged Trials 1,500 9.5% Inventory of Active Trials 5% 2,500 Engaged Customers 100 Engaged Customer Inventory 5,000 270 SDR capacity driven Web Visitors 1,000,000 New Names New Customers 125 2.5% 2% 90% Renewals 90%
- 50. Page 50 © 2014 Marketo, Inc.#MKTGNATION14 Tweetable Takeaways 1.The way buyers buy has changed forever – the way we market and sell must change as well 2.Marketers must take control and guide each person through a successful journey 3.Most people are not “ready to buy” – nurture relationships over time 4.Use analytics to turn marketing from a cost center into a revenue driver 5.Think big, start small, move quickly #MKTG NATION14
- 51. Page 51 © 2014 Marketo, Inc.#MKTGNATION14 When marketers guide the journey… • More people aware & engaged • Moving faster through their journey • Advocating for your products & services • And you can prove it
- 52. Page 52 © 2014 Marketo, Inc.#MKTGNATION14 Q&A szhang@marketo.com
- 53. Page 53 © 2014 Marketo, Inc.#MKTGNATION14 Triggered Business-as-Usual Epsilon March 2013 US Email Benchmark Report
- 54. Page 54 © 2014 Marketo, Inc.#MKTGNATION14 Relevance Get the “Definitive Guide to Lead Nurturing” marketo.com/DG2LN
- 55. Page 55 © 2014 Marketo, Inc.#MKTGNATION14
- 56. Page 56 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Exposed to us via content, brand, or word of mouth
- 57. Page 57 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Feels a relationship and trust with us
- 58. Page 58 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Names are just names.
- 59. Page 59 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Meaningful interaction with us
- 60. Page 60 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Nurture until ready for next step Qualified potential customer
- 61. Page 61 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out
- 62. Page 62 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Qualified as sales-ready by SDR
- 63. Page 63 © 2014 Marketo, Inc.#MKTGNATION14 Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Accepted and actively worked by sales: marketing quota attainment
- 64. Page 64 © 2014 Marketo, Inc.#MKTGNATION14
- 65. Page 65 © 2014 Marketo, Inc.#MKTGNATION14 For visitors in B2C industries
- 66. Page 66 © 2014 Marketo, Inc.#MKTGNATION14
- 67. Page 67 © 2014 Marketo, Inc.#MKTGNATION14 For companies using competitive solutions
- 68. Page 68 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. But we also use a Portfolio of programs
- 69. Page 69 © 2014 Marketo, Inc.#MKTGNATION14
- 70. Page 70 © 2014 Marketo, Inc.#MKTGNATION14 JUNEDATE:
- 71. Page 72 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Average days to Opportunity: 327 days
- 72. Page 73 © 2014 Marketo, Inc.#MKTGNATION14 Dynamic Content Industry, Geography, Company Size, Customer vs. Prospect, etc.
- 73. Page 74 © 2014 Marketo, Inc.#MKTGNATION14
- 74. Page 75 © 2014 Marketo, Inc.#MKTGNATION14 Short (5) Conversion: 13.4% Cost per: $31.24 Medium (7) Conversion: 12.0% Cost per: $34.94 Long (9) Conversion: 10.0% Cost per: $41.90
- 75. Page 76 © 2014 Marketo, Inc.#MKTGNATION14 No Lead Left Behind: Service Level Agreements Day 0 Notification Day 1 If untouched, reminder Day 2 If untouched, reminder cc boss Day 3 If untouched, alert executives Day 7 If stale, reminder Day 8 If stale, reminder cc boss Day 9 If stale, alert executives
- 76. Page 77 © 2014 Marketo, Inc.#MKTGNATION14 Sample Filters from Gainsight
- 77. Page 78 © 2014 Marketo, Inc.#MKTGNATION14 Example: Multi-Touch Attribution A deal worth $100,000 recently closed. Three people were involved in the deal: • Person A attended Seminar A and Trade Show B • Person B attended Trade Show B • Person C was sent Direct Mail C $100,000 Revenue $25,000 $25,000 $25,000 $25,000 Seminar A $25,000 Tradeshow B $50,000 Direct Mail C $25,000
- 78. Page 79 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5
- 79. Page 80 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 Inbound + Nurture = 58% of (MT) Pipeline Paid Programs = 42% of (MT) Pipeline
- 80. Page 81 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 (MT) Ratio = Pipeline / Investment >10 is Great and <5 is Fail Sponsored Email = 12.8, Tradeshow = 10.6, PPC = 13.0, Webinars = 25.4, Field Events = 6.6, Content Syndication 7.7
- 81. Page 82 © 2014 Marketo, Inc.#MKTGNATION14 Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 % Programs with MT Ratio > 5 e.g. Tradeshow has good average but 49% programs “fail”
- 82. Page 83 © 2014 Marketo, Inc.#MKTGNATION14 Tweetable Takeaways 1.The way buyers buy has changed forever – the way we market and sell must change as well 2.Define the stages of the revenue cycle cycle, in alignment with sales 3.Most leads are not “sales ready” – nurture relationships over time, use online body language to score leads 4.Use analytics to turn marketing from a cost center into a revenue driver 5.Think big, start small, move quickly #MKTG NATION14
- 83. Page 84 © 2014 Marketo, Inc.#MKTGNATION14 Engagement & Intent One Way to “Marketing Qualify” A Lead Lead Lead B Lead Lead C Lead D 4 3 2 1 Fit
- 84. Page 85 © 2014 Marketo, Inc.#MKTGNATION14 Accurately Tracking “Investment” vs Budget
- 85. Page 86 © 2014 Marketo, Inc.#MKTGNATION14 Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
- 86. Page 87 © 2014 Marketo, Inc.#MKTGNATION14 Gainsight for Customer Success Acme
- 87. Page 88 © 2014 Marketo, Inc.#MKTGNATION14 Marketing Forecasts Get The “Definitive Guide to Marketing Metrics & ROI” http://marketo.com/DG2MM
Notes de l'éditeur
- A case study on modern marketing Examples from how Marketo drives our own business Examples of our innovative customers driving their businesses Covers content marketing, generating new business, marketing automation, analytics and more for B2B and consumer marketers alike Meant to inspire and educate Share best practices between the B2B and B2C worlds Not a commercial for Marketo! Don’t have to do this all at once – we built this over years
- 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.
- So how do we segment at Marketo. Well, first of all, we do it across 2 primary dimensions on a regional basis. One dimension we use is the buying stage, which maps really well to our overall revenue model, both to the high level funnel stages, TOFU, MOFU and BOFU, and also happens to map to the way we segment our content, EARLY, MID, LATE and CUSTOMER. The other dimension is the buying profile, which we typically define by personas. And by the way, we’ve kept it to 2 because even moving to 3 adds an exponential level of complexity. For instance, if we have 4 buy stages and 3 profiles, that’s 12 segments. If we add a 3rd dimension to segment off of, and that dimension had 3 options, now all of a sudden your taking your original 12, and muliplying it by 3, and now instead of 12 segments, we have 36.
- What happens after the purchase? Well, in most cases, marketers have goals for that too. But many marketers aren’t executing on them. Those goals could be to drive someone to become a repeat purchaser, to become an active user, or to be an active visitor. And in most business, retaining that customer is far more important than capturing him the first time.
- Customer version
- Here are out actual metrics… Focus on the very low conversion from MQL to SQL… since we are lose about MQL definition and don’t want to miss any deals…. But strict about what we pass to sales. We want that 75% SQL to Opp, since you want sales to value marketing leads… if it goes below 50%, sales doesn’t jump on SQLs as fast.
- 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.
- Need to run a lot of programs to support this! Clone is so important
- … if all they wanted were names, you could give them the phone book. They want LEADS!
- To get data for FIT / demographic scoring, don’t ask for it on forms. You’ll get crappy data….
- Curves example – a 35 year old man may be on the website every day, but they’re not the right fit. Different types of demographic data and behavioral data have different weights. So someone visiting the blog gets a point, a product page 5 points, and someone going to our pricing page would get 10 points. And different demographic criteria also carry different weights. And as you can see on this matrix, someone who is considered a really good fit, doesn’t have to have a high behavioral score in order to be a lead. And on the flip side, someone showing strong buying intent doesn’t have to have as good a fit score to be considered a lead. Which makes sense. And once a person reaches 100 points, now they are no longer a name, no longer a target, but they are A LEAD.