8 biggest mistakes demand generation marketers make and how to avoid them

8 Biggest Mistakes Demand Generation Marketers Make and How to Avoid Them

Joe PaoneManager, SMB MarketingMarketo

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Housekeeping

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1 PRE-EXISTING BIASES

Fight Bias with Data, but Be Careful

• Does this data tell the whole story?• Are you being objective?

• Are you comparing similar time periods, messaging, etc.?

• Are you interpreting the data in a way that confirms your bias?

Clicks

Eliminate Confirmation Bias

Clicks Revenue

© Marketo, Inc. 05/03/2023

‒ Recognize that bias exists‒ Rely on data to eliminate bias‒ Does the data tell the whole story? Remove

confirmation bias by analyzing all the data‒ When no data exists-be open to testing

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2 NOT SEGMENTING YOUR DATABASE

Why Segmentation is Important• 39% of email revenue is generated through targeted emails sent to specific segments1

• Segmented email campaigns produce 30% more opens than undifferentiated messages2

• 77% of email ROI comes from segmented, targeted and triggered campaigns1

• 84% of marketers who use segmentation rate their email ROI as good or excellent3

1DMA 20142Monetate 20123Econsultancy 2012http://www.towerdata.com/blog/the-roi-of-email-intelligence

Right message to the right person

Segmentation BasicsGenderAgeGeographyIncomeJob TitleCompany sizeIndustryRevenue

• Engagement • Activity• Non-activity• Stage

Demographic/Firmographic

Behavioral

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‒ Segmentation is a must-have‒ Key component in getting the right message to the right

person‒ Comprised of demographic, firmographic and behavioral

data‒ Should be leveraged beyond just email

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3 NOT GETTING PERSONAL

• 87% of people demand a meaningful brand experience (Source: Edelman Consulting, 2014)

• 74% of online buyers get frustrated with websites when content like offers, ads, and promotions are irrelevant to their interests. (Source: Janrain & Harris Interactive)

• 59% of buyers who have experienced personalization believe it has a noticeable influence on purchasing. (Source: Infosys)

• 88% of marketers who use personalization says it has a high impact on ROI and engagement. (Source: eConsultancy)

It’s Time to Get Personal!

http://janrain.com/about/newsroom/press-releases/online-consumers-fed-up-with-irrelevant-content-on-favorite-websites-according-to-janrain-study/

http://janrain.com/about/newsroom/press-releases/online-consumers-fed-up-with-irrelevant-content-on-favorite-websites-according-to-janrain-study/

Conversion Rates

33%Conversion rates for personalized campaigns

20%Increase in qualified lead gen with selected content

Visitors presented with personalized content convert 5X more than avg.

Default ViewPersonalized for Visitors from the Healthcare Industry

Higher engagement, with average visit duration rising 313% and average pages per visit increasing 163%.

Dynamic Content

Generic Advertising is Good, but…

These personalized Ads drove 2x more lead

conversions 117% increase

yr./yr. in qualified leads

Getting Personal is Better!

© Marketo, Inc. 05/03/2023

‒ Take personalization beyond email‒ Personalized experiences yield higher conversions and a

better experience ‒ Personalization allows you to optimize ad spend and

increase quality of prospects as well as acquire customers faster

‒ Personalization allows you to match content & messages to the stage of the buyers’ journey

© Marketo, Inc. 05/03/2023

4 NEGLECTING NURTURE

Increase in sales opportunities from nurtured leads versus non-nurtured

98%

123 Days

20%

Why Nurture: Marketo Data

Average Target to Opp time

New Targets NOT Opp-Ready

What Matters? Being relevant and personal

Hi, are you ready to buy?Hi, are you ready to buy?Hi, are you ready to buy?Hi, are you ready to buy?Hi, are you ready to buy?Hi, are you ready to buy?Hi, are you ready to buy?Hi, are you ready to buy?Hi, are you ready to buy?

Bummer – too much, not relevant

• Here’s a cool video• Check out this article• See our latest offering• Share this with friends• Here’s what others like!• Download our new book• Happy birthday• Join us at our event• You like X, check out Y• Fun ways to learn more• Take this survey• You haven’t bought yet, here’s a 10%

discount

Ideal: Adjust, listen, respond

Engagement Programs

Priority 1Interest

C-LevelENT/MM

Vertical

Higher Ed

Healthcare

Financial

Agency

Sports

C-Level SMB Competitor

A

B

C

D

E

Priority 2Business Unit

B2C*

Pending

Early

Mid

Late

B2B (SMB)

Pending

Early

Mid

Late

MM

Pending

Early

Mid

Late

ENT*

Pending

Early

Mid

Late

Marketo NOAM Prospect Nurture Example

• We created custom audiences in Facebook and Twitter to then serve ads to these audiences in addition to Emails.

• The CTR on this multi-channel stream was 30-35% higher resulting in a higher lead velocity and higher conversion to MQL and opps

Marketo Example: Multi Channel Nurture

Nurture with Triggered Accelerator

• Attends event• Logs into mobile app• Downloads content• Click email• Fills out form• Score is changed• Product interest• Inactivity

IT

Finance

C-level

Triggers – Can Listen for Behavior

Marketo Example: Triggered AcceleratorGoal: Target and convert leads who abandoned demo form pages on marketo.com

Results: 455 sent; ~$500k in sales pipeline (over 4 months)

© Marketo, Inc. 05/03/2023

‒ Don’t underestimate the value of nurture‒ Make sure your nurture adds value and is not too salesy‒ Start with email, expand to multi-channel‒ Triggered emails are a great way to augment nurture

© Marketo, Inc. 05/03/2023

5 INACCURATE OR NO ATTRIBUTION ANALYSIS

1• Cost per program

2• New Names

3• New Targets

4• Cost per Target

Early

1• Program success

2• Call connects

3• # of meetings

4• Marketing qualified leads (MQLs)

Mid1

# of opportunities

2• First Touch Ratio

3• Multi Touch Ratio

4 Pipeline

Late

Know What To Measure When

Measure What Matters Early

Quality vs. Quantity

Measure What Matters Late

First-Touch Attribution Explained

Multi-Touch Attribution Explained

FT vs. MT Pipeline

Channel FT Pipeline MT Pipeline

PPC $410,000 $525,000

Webinars $220,000 $903,000

Content Syndication $325,000 $117,000

More efficient at pushing leads

through funnel

More efficient at acquiring the right

leads

© Marketo, Inc. 05/03/2023

‒ Most marketers don’t build programs with a data first approach

‒ Don’t let early stage metrics drive your strategy‒ First touch and multi touch metrics are both important,

but for different reasons

You Are Not An Island

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‒ Consider all marketing channels‒ Marketing programs are most effective when deployed

cross-channel‒ Don’t recreate the wheel

Why Score Leads in the first place?

Use Lead Scoring“Shared sales and marketing methodology for ranking

leads in order to determine their sales readiness”

Nurture Nurture DisqualifyPass to Sales

Pass to Sales

Fit Interest Buying Stage

Lead Score Formula

LEAD SCORE = (Pos Demo Score2 ) - (Neg Demo Score2) + Behavior - Decay

Measure of engagement with Marketo content

Demographic scores reflect buyer fit

Leverage Scoring to Drive Prioritization

Inbound Leads

Target Leads(High Demographic Score)

Target Leads(High Behavior Score)

Decay / Inactivity

Fast Track: Act Now/Call Now

http://tvustudent.files.wordpress.com/2010/05/dummy_user.png











© Marketo, Inc. 05/03/2023

‒ Many companies are not leveraging a lead scoring model‒ Determine which inputs (and at what weightings) make

the most sense for your company‒ Use lead score to drive Sales prioritization

Sales and marketing alignment is the process of getting these two departments to effectively work together towards a common goal.

What and Why

Companies that have aligned sales and marketing teams achieve up to 19% faster growth and 15% higher profitability.*

*Source: 2015 B2B Buyer Benchmark Study by SiriusDecisions.

Improves Conversion Rates

Improve AlignmentDefine common termsDefine revenue funnelSet common goalsPlan togetherUtilize lead scoringCommunicate often

Plan Together, Succeed Together

31% increase in MQL acceptance

63% improvement in Marketing’s contribution to total revenue

© Marketo, Inc. 05/03/2023

‒ Better alignment with Sales yields better results for the company

‒ Get Sales involved in the process‒ Spend time with Sales‒ Actively engage and solicit feedback

8 Mistakes Demand Generation Marketers Make 1. Pre-existing Bias2. Not Segmenting Your Database3. Not Getting Personal4. Neglecting Nurture5. Inaccurate or No Attribution Analysis6. Operating in a Vacuum7. Not Leveraging a Lead Scoring System8. Poor Alignment with Sales

Questions?

https://www.linkedin.com/in/jpaone

8 biggest mistakes demand generation marketers make and how to avoid them

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