As the pace of innovation and customer expectation continues to accelerate, the role of every marketer is becoming exponentially more challenging. The key to success for marketers in this rapidly evolving digital world is one thing: engagement.
Join our guest Lori Wizdo, Principal Analyst with Forrester Research, and Hally Pinaud, Sr. Manager, Product Marketing at Marketo, for a webinar on the key principles of engagement marketing and how marketers are leveraging them to create meaningful interactions with people continuously over time.
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The Era of Engagement Marketing
1. Era of Engagement Marketing
Lori Wizdo
Principal Analyst
Forrester Research
Hally Pinaud
Sr. Product Marketing Manager
Marketo
2. Agenda
1. The Engagement Marketing Imperative
2. Engagement Marketing in Action
3. The Road Map to Engagement Marketing
4. The Engagement Marketing Journey
5. Expanded remit of marketing
Fragmentation of marketing channels
Dramatic changes in customer behavior
We are in the midst of a revolution in the practice
of marketing . . .
29. ENGAGEMENT MARKETING
Build personalized and lifelong relationships
#1 – As Individuals
#2 – Based On What They Do
#3 – Continuously Over Time
#4 – Directed Towards An Outcome
#5 – Everywhere They Are
40. Hermione: Content Marketing Wizard (small technology vendor)
Key Responsibilities:
Content Strategy
Content Development
Social Publishing
Success Factors:
Inbound Leads
Content Consumption
Sales Feedback on Content
Product Management Feedback
Solution/Sales Plays:Value Points:
Reports
Data
Advisory
Consulting
Inquiry
Content
Touch Points:
Advisory: Content Audit (3,4)
Advisory: Maturity Model(6)
Advisory: Message Maps (4)
Thought Leadership Paper (1)
TEI Report (3)
Digital Reprints (2)
Forrester Leadership Board (1,6)
Events
Webinars
Analyst Engagement
Best Practice Emails
Monthly Check-In Calls
1. Access to internal thought
leaders
2. Scaling content to support
multiple nurturing streams
3. Late Journey Content
4. Message Management
5. Budget & Resources
6. Justifying role and process
to the CMO and exec
peers.
Info Sources:
LinkedIn
Colleagues
Marketing Profs
Conferences
Thought Leader Blogs
Challenges:
How Are We Relevant to Them
56. Discovery marketing is the process of
making your brand, product, or solution
discoverable to seekers in any relevant
information source.
57. B2C marketers an
average of $40 million
for search marketing
40% of B2B marketers
more than $10 million
for search marketing
“Discovery” Doesn’t Come Cheap.
22% of B2B marketers
more than $50 million
for search marketing
87. To Win In Today’s World
BLASTING
Via mass advertising
Based on who they are
Using point in time campaigns
Across few / isolated channels
With unclear objectives
NURTURING
As individuals
Based on what they do
Continuous conversations
Wherever they are
Always directed towards a goal
90. Tweetable Takeaways
Engagement marketing is about creating
meaningful interactions with people, based on who
they are and what they do, continuously over time.
It’s up to marketers to become the stewards of the
customer journey.
91. Tweetable Takeaways
Engagement marketing is about creating
meaningful interactions with people, based on who
they are and what they do, continuously over time.
It’s up to marketers to become the stewards of the
customer journey.
Evaluate where you sit on the Engagement
Marketing Journey today.
In the digital era, your customers are your most valuable asset, and only those who successfully engage them throughout the customer lifecycle will succeed at all. And that means that marketers must master an engagement marketing strategy – through a deep understanding of the seven core principles, combined with the technologies needed to act upon them.
Sixty-nine percent of US online consumers say that they have researched products online in the past three months, up six percentage points from 2010.
All marketers, irrespective of the type of company they work for - B2B and others from B2C businesses, across industries and verticals, have the same quest:
How do I acquire new customers faster?
How do I grow their lifetime value?
And, how do I convert as many of them as possible to become advocates?
How do I build brand advocates who in turn can influence new prospects?
In other words, create this unstoppable virtuous cycle of customer success.
As marketers shift from talking at people, and focusing on transactions, to engaging with people – to build meaningful, life-long, and personalized relationships. We call this engagement marketing.
So what is engagement marketing? Let’s start with what it isn’t: engagement marketing isn’t about serving your buyers a particular product, or even serving them a particular experience. It isn’t about one-off campaigns (no matter how compelling or involving), and it isn’t about customer service (at least it isn’t just about customer service). Instead, engagement marketing is about creating meaningful interactions with your customers, based on who they are and what they do, continuously over time. It’s marketing that engages wherever your customers are, and it’s marketing that is backed by both creative vision and hard data. Finally, it’s marketing that allows you to move quickly, shortening the time between idea and outcome, so that you can create more – and better targeted – programs.
Speaking of differences. You’d probably want to engage with a physics professor differently than you would a history professor.
MHHE had been connecting with these professors primarily through a large field sales force
Tens of thousands of professors to engage, needed more efficient way to build these relationships.
With Marketo, MGH was able to quickly build hundreds of *individualized* nurture streams for each individual course type, which enabled them to engage with these professors in a more personalized way.
Using technology to build stronger relationships led professors to select McGraw-Hill course materials at double the rate they had prior.
NICE Systems sells software solutions to help organizations to fight financial crime and safeguard assets.
They have gone one step further - they personalize the content on their website for every visitor based on their industry, location or product interest
They do this using Marketo’s Real-Time Personalization product and it’s allowed them to treat every website visitor like an individual
5X increase in conversions
Accounts for 30% of goal completions
I’m going to talk more about how you can create personalized Web experiences with RTP in the New Products session coming up next.
--
NICE uses Marketo’s Real Time Personalization solution for its ability to provide rich firmographic and demographic data for known and unknown website visitors and provide a personalized experience to those individuals. With RTP, NICE can easily execute vertical or organization-specific campaigns. For instance, U.S. visitors from specific organizations are shown a personalized banner campaign to watch a customer testimonial video when they go to specific pages on the site. Since the solution is integrated with NICE’s Marketo lead management platform, the company can leverage lead data in real time.
The robust analytics help NICE drive business strategy on which verticals to focus on, which campaigns to run, what content to use, and how to best allocate marketing dollars.
Results:
In targeted verticals like the finance industry, RTP has helped NICE identify thousands of visitors every month. For visitors who were exposed to RTP campaigns, average visit duration was up 48% and number of pages visited rose 32%. Visitors presented with personalized content show a conversion rate 5X higher than site average and account for approximately 30% of online goal completions.
Highlights
Deeper engagement from more targeted, relevant content
Lead and win attribution for specific marketing efforts
Alignment between sales and marketing
Enterprise-class data management and security
Challenges
The Charles Schwab Corporation provides a full range of securities, brokerage, banking, money management, and financial advisory services. Schwab Advisor Services™ serves independent investment advisors, championing innovative ways for advisors to deliver an exceptional experience to their clients.
The Marketing team within Schwab’s Advisor Services business unit focuses on two key goals – acquiring new independent advisors and helping existing advisors grow their business. The process of an advisor deciding to leave a firm and go out on their own can take 2-3 years, resulting in a long “buying cycle” for Schwab that requires continual nurturing of advisor prospects. For advisors who are onboard, Schwab needs to understand where advisors are in the lifecycle of their business, and deliver relevant content that helps them get their practice off the ground, run their back office efficiently, and grow their assets under management.
Before Marketo, Schwab used an automation platform that was outdated, cumbersome to use, and lacked insight even into whether emails were simply being delivered. In addition, they had no way to ensure that data was clean and updated, and they struggled to integrate with the company’s complex security systems. Recognizing the need for a modern and innovative marketing platform, Schwab evaluated several offerings and selected Marketo.
Solution
With Marketo, Schwab can now cultivate prospective independent advisors at scale. With the ability to set up numerous nurture streams based on where advisors are in their journey, Schwab can deliver targeted, relevant and personalized content to help accelerate the advisor’s decision process. Also, by tracking and scoring advisors’ behavior, Marketing can help Sales prioritize the best prospects to engage directly.
Schwab can also now leverage Marketo to effectively communicate with existing advisors with the goal of helping them grow their business. By delivering content that is most relevant to where advisors are in their business lifecycle, Schwab can be a better partner to them. “We’re trying to get them to adopt better technology and better practices, so we can help them grow,” explains Rosai. “If they grow, then we grow.”
Benefits
With Marketo, business development officers will have much greater insights into the prospects coming through the pipeline, and relationship managers will have visibility into what existing clients are interested in. With this visibility, sales can react in a timely, relevant manner to impact conversion. “I’ve never seen a sales force so excited about a marketing rollout--not in my tenure at Schwab or anywhere else. It’s good to see that partnership come together,” says Rosai.
Marketo will also enable direct attribution of marketing efforts. “What’s exciting about Marketo is that you can see the benefits that marketing brings to the table. Marketo will help the sales team see how we help drive leads and conversions. To provide that kind of exposure and benefit in marketing is just going to make the sales and marketing organization a more cohesive unit to drive the business objectives,” adds Rosai.
“Ultimately, Marketo is going to help Marketing & Sales to be more relevant and much more targeted in our efforts to acquire, retain, and grow relationships with independent advisors. By bringing marketing and sales together and making us more effective as a team, we can build a stronger program to meet advisor needs and achieve business results,” says Rosai.
How many of you have been to an NBA game before? (most hands will raise)
How many of you are season ticket holders (fewer hands will raise, if any)
This is the exact problem that the Detroit Pistons had – they were able to fill the arena nightly with 100k people, however, the real opportunity was to convert these single game attendees to season ticket holders
Large ticket purchases that aren’t made day to day, knowing crucial information that is personal to them, knowing your customers serves as the catalyst to enable them to purchase
Palace Sports & Entertainment (owner of the Detroit Pistons) previously used an email service provider for “batch and blast” campaigns. The solution lacked sophistication to offer insight into how customers wanted to interact with the Pistons brand
Palace needed a solution to help them build relationships that could create customers for life, requiring the ability to understand customers as individuals and tailor content to those individuals to develop life-long relationships with consumers
PS&E can track individual fans by understanding which game tickets they have purchased, which concerts they've gone to or looked at on the website, and even by pulling from social data such as Facebook accounts to learn a customer’s birthday or identify their favorite player or artist to customize future communications or invite them to a specific game or concert.
Results:
30% increase year-over-year in season ticket holder sales
Deeper understanding of customers and their interests
Comprehensive process for continually measuring and improving personalized messages to fans over time
MyFitnessPal, the world’s leading health and fitness platform, implemented Marketo to engage with its more than 65 million users and to drive awareness for Hello Healthy, now one of the largest health and fitness media outlets in the world.
MyFitnessPal has dramatically increased its engagement with users via personalized email communications and digital content marketing. As a result, MyFitnessPal has reactivated and engaged users at scale, resulting in a 10 percent lift in user engagement. A multi-channel content and social media marketing program using email communications as a key traffic driver also grew the readership of MyFitnessPal’s blog,Hello Healthy, to over 4 million unique visitors per month.
MyFitnessPal has dramatically increased its engagement with users via personalized email communications and digital content marketing. As a result, MyFitnessPal has reactivated and engaged users at scale, resulting in a 10 percent lift in user engagement.
Health Apps require you to track how often they exercise, how they eat, requires the user check in (4-5 times a day) and constantly engage.
Can’t be mobile only – even if you’re an app company. Consistent behaviors across channels to engage across channels (App, Web, Blog).
Don’t just be multi-channel, be cross channel.
MyFitnessPal Leverages Marketo to Engage 65 Million Users
In 2013, they’d sent 4 emails to their then database size of 15MM users.
Highlights
MyFitnessPal started by dramatically increasing engagement with users via personalized email communications
In addition to email as a direct channel, MyFitnessPal has built a sizeable following on their blog, “Hello Healthy.”
Lastly, based on their deep understanding of each user, as well as how often people are interacting with their app, MyFitnessPal has improved retention and engagement.
User engagement increased double digits
Source: The New Yorker, October 5, 1998 (http://www.newyorker.com/)
Once you know what your brand stands for, the type of content that's appropriate for your brand will become much clearer.
the process of making your brand, product, or solution discoverable to seekers in any relevant information source
In 2010, Bank of America announced it would take money from traditional channels such as TV and put that money toward digital platforms such as SMS and Twitter. Since then, it has continued to grow its digital presence withmobile applications and Facebook pages. Source: Edmund Lee, "Bank of America to Spend Less on Traditional Outlets," AdAge, April 13, 2010 (http://adage.com/article/special-report-digital-conference-2010/bank-america-spend-traditional-outlets/143266/).
. Source: North American Technographics® Online Benchmark Survey (Part 2), Q3 2012 (US, Canada)“How do you find the websites you visit?”
Source: The New Yorker, December 19, 2005 (http://www.newyorker.com/)
Retention/Loyalty
Thank you for being our customer
“Points” programs
Why renew now
So HOW to you win in this new era of digital marketing where consumers are bombarded with thousands of marketing messages everyday, where buyers have self-directed journeys and brands are expected provide personalized experiences at scale, BLASTING is a thing of the past?
As Marketers, we are stewards of o
In the last few years alone we have moved from Mass Marketing to marketing that focused on the transaction. We are now in the Era of Engagement Marketing –where companies that win are shifting from marketing AT consumers to engaging WITH them to build meaningful and lifelong personal relationships.
ur customer journeys and have the eyes, the ears, the brains, to understand customers as strategic asset.
So what is engagement marketing? Let’s start with what it isn’t: engagement marketing isn’t about serving your buyers a particular product, or even serving them a particular experience. It isn’t about one-off campaigns (no matter how compelling or involving), and it isn’t about customer service (at least it isn’t just about customer service). Instead, engagement marketing is about creating meaningful interactions with your customers, based on who they are and what they do, continuously over time. It’s marketing that engages wherever your customers are, and it’s marketing that is backed by both creative vision and hard data. Finally, it’s marketing that allows you to move quickly, shortening the time between idea and outcome, so that you can create more – and better targeted – programs.
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So what is engagement marketing? Let’s start with what it isn’t: engagement marketing isn’t about serving your buyers a particular product, or even serving them a particular experience. It isn’t about one-off campaigns (no matter how compelling or involving), and it isn’t about customer service (at least it isn’t just about customer service). Instead, engagement marketing is about creating meaningful interactions with your customers, based on who they are and what they do, continuously over time. It’s marketing that engages wherever your customers are, and it’s marketing that is backed by both creative vision and hard data. Finally, it’s marketing that allows you to move quickly, shortening the time between idea and outcome, so that you can create more – and better targeted – programs.
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So what is engagement marketing? Let’s start with what it isn’t: engagement marketing isn’t about serving your buyers a particular product, or even serving them a particular experience. It isn’t about one-off campaigns (no matter how compelling or involving), and it isn’t about customer service (at least it isn’t just about customer service). Instead, engagement marketing is about creating meaningful interactions with your customers, based on who they are and what they do, continuously over time. It’s marketing that engages wherever your customers are, and it’s marketing that is backed by both creative vision and hard data. Finally, it’s marketing that allows you to move quickly, shortening the time between idea and outcome, so that you can create more – and better targeted – programs.
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So what is engagement marketing? Let’s start with what it isn’t: engagement marketing isn’t about serving your buyers a particular product, or even serving them a particular experience. It isn’t about one-off campaigns (no matter how compelling or involving), and it isn’t about customer service (at least it isn’t just about customer service). Instead, engagement marketing is about creating meaningful interactions with your customers, based on who they are and what they do, continuously over time. It’s marketing that engages wherever your customers are, and it’s marketing that is backed by both creative vision and hard data. Finally, it’s marketing that allows you to move quickly, shortening the time between idea and outcome, so that you can create more – and better targeted – programs.
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