digital marketing bootcamp - evaluating marketing automation
TRANSCRIPT
Evaluating a Marketing Automation Solution
Michael BergerDirector, Product Marketing
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• This webinar is being recorded – keep an eye out for the slides and recording sent to your email later today
• Questions? Type them in the chat box and we will answer!
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Housekeeping
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• Lead Nurturing • CRM Integration• Sales Intelligence• Replicating Success
http://bit.ly/1cYYXL5
Previously Covered
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• General Guidance on Selecting a Marketing Automation Solution
• Automation Workflows• Analytics
Today’s Focus
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Marketing Today is Hard
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Feature Checkbox vs. Use Case
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Features are Different
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Use Cases Matter
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Simplicity vs. Speed
Simplicity
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Simplicity vs. Speed
Speed
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Value vs. Time
Val
ue
Time (weeks)1 2 3 4 5
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Think Ahead
Don’t be this guy (or gal)!
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• My Journey with Marketing Automation
Think Ahead
What have I gotte
n myself into
Wow, so much to lear
n
Oh, I am
starting to get this
This is
the best thing ever!
Wow, this
is incredible!
Hmm,
wish I was able to do
X
Hmm,
wish I was able to to
Y
Hmm,
wish I was able to do
Z
Gee, I
need more capabilities
Anxiety Relief Elation Uncertainty Anxiety Panic!
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• My Journey with Marketing Automation
Think Ahead
What have I gotte
n myself into
Wow, so much to lear
n
Oh, I am
starting to get this
This is
the best thing ever!
Wow, this
is incredible!
Hmm,
wish I was able to do
X
Hmm,
wish I was able to to
Y
Hmm,
wish I was able to do
Z
Gee, I
need more capabilities
Anxiety Relief Elation Uncertainty Anxiety Panic!
7 months
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• Think 3 years out• Avoid the “this will serve our needs for a year” mentality• Migration isn’t always easy• Data is lost
Think Ahead
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• Marketing is a revenue driver, not a cost center• Investment vs. expense• Small improvements in conversion rates often dwarf price
differences between systems
Price
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Price
System A$1,700/mo
System B$1,500/mo
• Difference of $6,000 per year
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Price
• ASP = $30,000• Average 20 wins per month = $600,000• Annual revenue = $7.2M
Win
Win
Win
Win
Win
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Win
Win
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Win
Win
Win
Win
Win
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Price
• One more win per month
• Incremental Revenue = $360,000 per year
• Incremental Cost of Solution = $6,000 per year
• If one more win per quarter, still $120,000 vs. $6,000
Win
Win
Win
Win
Win
Win
Win
Win
Win
Win
Win
Win
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Win
Win
Win
Automation Workflows
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Workflows are the Engine
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Workflow Differences
List Workflow
2 Objects
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Workflow Differences
Behavior List Workflow
3 Objects
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Workflow Differences
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Workflow Differences
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Workflow Differences
WorkflowOne system object can trigger based on behaviors,
or affect a segment of database
1 Object
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Workflows: Triggers
Basic
Added to list
Powerful
Clicking a specific link in an emailAt request of another workflow
Database value changesProduct purchases
Tapping a mobile push notificationAdded to a CRM opportunity
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Workflows: Actions
Send EmailAdd Wait Step (days)
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Workflows: Branching Logic
LinearWorkflow
Yes/No or True/False
Branch
Full Branching
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• Push prospect into a nurturing program when their lead score hits 25.
• When someone downloads content, score them differently based on who they are.
• CXO or VP• Director or Manager• Practicioner• Student or Job Seeker
Scenario
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Workflows: Branching Logic
Almost impossible Requires lots of lists and multiple
workflows
Easy to do in one workflow, no lists
required
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Workflows: Rules
Flow throughonce or many?
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Workflows: Rules
Example: Scoring rulewhere an email click adds
2 points to score.
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Workflows: Rules
If prospect clicks email 2x, they are not going to
receive scoring credit.
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Workflows: Rules
A second workflow is then required.
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Workflows: Rules
If many times through flow allowed, only one
workflow needed to add 2 points for each click.
Analytics
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Reporting Maturity CurveMulti-touch ROI
Multi-touch Revenue
Single-touch Revenue
Opportunities Won
Conversion Based (Form Fill)
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Conversion Based
Page Visits Leads Conversion %
Awesome eBook Landing Page
657 31 4.7%
Contact Us Landing Page
412 68 16.5%
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Vanity Metrics
Source: KISSmetrics blog “Why You Ought to Throw AwayYour Vanity Metrics for these 5 Customer Metrics”.
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Opportunities Won
Page Visits Leads Conversion % Opps Wins
Awesome eBook Landing Page
657 31 4.7% 4 2
Contact Us Landing Page
412 68 16.5% 12 5
Advanced Analytics Webinar
840 56 6.6% 6 3
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Downloaded eBook on Analytics
Downloaded Analytics Survey
ResultsEngaged with us at
Big Tradeshow
Single Touch
3 months
$100K
$100K
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Single Touch Attribution
Page FT Revenue
Content: eBook Analytics
$100,000
Webinar: Advanced Analytics
$0
Content: Survey Results
$0
Webinar: Top 10 Marketing Reports
$0
Tradeshow: Big $0
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Downloaded eBook on Analytics
Downloaded Analytics Survey
ResultsEngaged with us at
Big Tradeshow
Multi Touch
3 months
$25K
$0
$25K
$25K $100K
$25K
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Multi Touch Attribution
Page MT Revenue
Content: eBook Analytics
$25,000
Webinar: Advanced Analytics
$0
Content: Survey Results
$25,000
Webinar: Top 10 Marketing Reports
$25,000
Tradeshow: Big $25,000
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Multi Touch Attribution
Page MT Revenue MT ROI
Content: eBook Analytics
$25,000 270%
Webinar: Advanced Analytics
$0 50%
Content: Survey Results
$25,000 570%
Webinar: Top 10 Marketing Reports
$25,000 318%
Tradeshow: Big $25,000 37%
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
• Position Marketing as a profit center, not a cost center.
• Focus on the hole (use case), not the shovel (feature).
• Understand the tradeoffs between simplicity and speed, and time and value.
• Workflows are the engine that powers a marketing automation solution. Take the time to understand what they can and can’t do.
• Get beyond vanity metrics. Measure how programs and channels are driving pipeline and revenue.
Some Tweetable Takeaways…
Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo
Register for more webinars in the Bootcamp Series http://bit.ly/Marketo-Bootcamp
Digital Marketing Bootcamp Series
Topic Date
Top 10 Things Marketing Automation Can Do For You 6/11/15
Evaluating Marketing Automation 6/17/15
Inbound Success Strategies 6/25/15
Email and Nurture Best Practices 7/9/15
Sales and Marketing Alignment 7/23/15
Measure and Prove ROI 8/6/15
Q&AAlso happy to connect on LinkedIn.Twitter: @mikedberger