Download - The Survivalist's Guide to Data-Driven Marketing

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The Survivalist’s Guide to Data-Driven Marketing

Tom MurphyGM & Editorial Director

• Focus Areas: Customer success, customer experience, CMS, digital marketing, collaboration & analytics.

• More than three decades covering technology and business for UBM Tech, RedHerring.com, Bloomberg News, The AP, Montgomery Research, MarketWatch.comand other organizations.

• Author of “Web Rules: How the Internet is Changing the Way Consumers Make Choices”

Moderator

Don’t forget about our 2 Free Gold Passes!

2 Attendees will be given a gold pass valued at $1795 to the

Digital Publishing Innovation Summit

December 10-11 in San Francisco, CA

The winner will be announced immediately after the Q&A so

stick around for your chance to win!

Give-Away

5 mins– Introductions

35 mins – Heidi Bullock

15-20 mins– Live Q&A (you!)

Agenda

Submit your questions!

• Via WebEx

• Use the Chat or Q&A modules

• Via Twitter

• @CMSWire

Questions

WebEx Chat

*Appearance may vary on your platform

WebEx Q & A

WebEx Polls

• Founded in 2003

• 400+ editorial contributors

• Key Services:

– 200+ articles per month

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• Three Primary Topic Areas:

– Customer Experience, Digital Marketing

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About CMSWire

Sponsored by

Intros

Marketo provides easy and powerful marketing automation

software with everything a marketer needs: email, social,

analytics, lead management, and more. Marketo allows

marketers to interact seamlessly with their customers across

channels and supplies the data and analytic insights to

understand where and how to allocate their budgets for

maximum return.

Learn more at www.marketo.com

http://www.marketo.com/

http://www.marketo.com/

Heidi Bullock

• VP of Demand Generation at Marketo

• Over 10 years of B2B marketing

experience in high tech companies

• Expertise includes positioning, brand

development, online advertising and

direct marketing

Intros

© 2014 Marketo, Inc. Marketo Proprietary and Confidential

Topics

1. Methodology

2. Revenue Cycle

3. Analytics


Poll #1

How many of you know what profits could be generated

with 10% more budget?

a) I do!

b) I don’t!

c) I’m not sure


On average, only 32.5% of projects are using marketing analytics.CMO Survey, conducted by the Duke Fuqua School of Business.


12%

20%

15%

9%

44%

Improve profits bymore than 20%

Improve profits by10% to 20%

Improve profits up to10%

No major change inprofits generated

Don't Know

What Profits Can Be Generated With

10% More Budget?

#1 Answer:

Don’t Know

Source: 2010 Lenskold Group / eMedia Lead Generation Marketing ROI Study


Methodology


There are different levels of reporting


Success Secret #1: Agree on Definitions

Need help? Check out:

http://www.marketo.com/ebooks/how-to-define-a-lead/


Example – What Metric Matters?

Names from a

Tradeshow?

Attended demo,

right,

demographics?

Pipeline


When Metrics Take Away Credibility

Vanity MetricsSound good and impress people, but don’t measure impact on revenue or profitability.

Activity MetricsMeasure what you do instead of what results and impact you have.


Cost MetricsFrame marketing in terms of cost and spending instead of results and outcomes.

When Metrics Take Away Credibility


The best event programs incorporate intentional measurement strategies in advance.

Success Secret #2: Set Goals Upfront

Pre-Event:

Engagement #

downloads on

your asset

During Event:

# booth visits, #

demos, #

attended talk

Post-Event:

# downloads on

slides – on

follow up email

Leads > Opportunities

153 Closed Deals

Jan Feb Apr May June


Success Secret #3:

Design Programs to be Measurable


Success Secret #4: Focus on Decisions

that Improve Marketing

vs.


Revenue Cycle


Nam

e

Aw

are

ne

ss

Frie

nd

Enga

ged

Targ

et

TOFU MOFU

Opportunity Customer

Lead

Sale

s Le

ad

Nurturing Database

BOFU


Nam

e

Aw

are

ne

ss

Frie

nd

Enga

ged

Targ

et


Lead

Sale

s Le

ad

Nurturing Database

Exposed to us via content, brand,

or word of mouth


Nam

e

Aw

are

ne

ss

Frie

nd

Enga

ged

Targ

et


Lead

Sale

s Le

ad

Nurturing Database

Feels a relationship and trust

with us


Nam

e

Aw

are

ne

ss

Frie

nd

Enga

ged

Targ

et


Lead

Sale

s Le

ad

Nurturing Database

Names are just names


Nam

e

Aw

are

ne

ss

Frie

nd

Enga

ged

Targ

et


Lead

Sale

s Le

ad

Nurturing Database

Meaningful interaction with us


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e

Aw

are

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Lead

Sale

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ad

Nurturing Database

Nurture until ready

for next step

Qualified potential customer


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nd

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ged

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Lead

Sale

s Le

ad

Nurturing Database

Marketing qualified lead (score > 100) –

Sales Development Rep (SDR) reach-out


Nam

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are

ne

ss

Frie

nd

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ged

Targ

et


Lead

Sale

s Le

ad

Nurturing Database

Qualified as sales-ready by Sales

Development Rep (SDR)


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Lead

Sale

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ad

Nurturing Database

Accepted and actively worked by sales:

marketing quota attainment


Poll #2

What is your top challenge today regarding measurement?

a) They are too complex and difficult to use

b) I do not have the data or the budget required

c) I do not have the time for this type of work

d) There are too many, I don’t know where to start


Analytics


Why Measuring Return is Hard

• Multiple touches.Seven touches needed to convert a cold lead into a sale

• Multiple influencers.Typical buying committee has 5-21 people


Track All Touches Across People

Screenshot: Marketo Revenue Cycle Analytics


Example: Multi-Touch Attribution

A deal worth $100,000 recently closed. Three people were involved in the deal:

• Moe attended Webinar and Tradeshow

• Larry attended Tradeshow

• Curly responded to Direct Mail

$100,000 Revenue

$25,000 $25,000 $25,000 $25,000

Webinar$25,000

Tradeshow$50,000

Direct Mail$25,000


Source: Marketo Revenue Cycle Analytics, Apr 2014* Percentage of all programs in channel that achieve MT Ratio > 5



Inbound + Nurture = 58% of (MT) PipelinePaid Programs = 42% of (MT) Pipeline



(MT) Ratio = Pipeline / Investment

>10 is Great and <5 is FailSponsored Email = 12.8, Tradeshow = 10.6, PPC = 13.0, Webinars = 25.4, Field Events =

6.6, Content Syndication 7.7



% Programs with MT Ratio > 5e.g. Tradeshow has good average

but 49% programs “fail”


Nam

e

Aw

are

ne

ss

Frie

nd

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ged

Targ

et

TOFU MOFU


Lead

Sale

s Le

ad

Nurturing Database

BOFU


Use Metrics to Set & Justify Budgets

New Targets

New MQLs

Score>100

23,000

Inventory of

Active MQLs

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

Inb

ou

nd

/ P

rog

ram

s

120K(900K DB

Total)

New Names

New SQLs

922

Win

s

Inventory Of Active Targets

60,000

131,000

15.3%

10.5%

2.4%

1.9%

75%

35%


Get the “Definitive Guide to Marketing Metrics & ROI”marketo.com/DG2MM


Takeaways

1. Agree on definitions and set goals upfront with C level.

2. Just because you can measure something, doesn’t mean you should do it – focus on a few metrics that matter for YOUR business.

3. Avoid cost and spend metrics – focus on investment and return.

4. A trusted marketing forecast = credibility.

5. Progress not perfection!

Time for your questions!

Enter your questions into the Q&A module

@CMSWire

@marketo @heidibullock

#datadriven

Q & A

It’s that time!

And the winners are….

Winners

The webinar has been recorded. The video and a recap article will

be emailed to you and available on CMSWire.com in a few days.

Thanks again to Heidi Bullock for the thought-provoking ideas and

to Marketo for sponsoring today’s event.

If your company is interested in sponsoring a webinar, please email

us at [email protected].

Thank You

mailto:[email protected]

Download - The Survivalist's Guide to Data-Driven Marketing

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