Driving Marketing Automation Success Across the Enterprise: Marketing Strategy

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    09-May-2015

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Looking to build the business case for launching a marketing automation solution at your enterprise organization? Join Marketo to hear best practices for building a business case and marketing strategy to ensure you get documented buy-in from all stakeholders. As with any new process or system, everyones goals must be aligned in order to be successful. Attend to learn how to: -Build a business case to identify your strategies and objectives -Quantify the potential benefits of your marketing automation solution -Justify the improvements you are predicting

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PowerPoint PresentationDriving Marketing Automation Success Across the Enterprise: Marketing StrategyApril 23, 2014 2014 Marketo, Inc. Marketo Proprietary and Confidential Page # 2013 Marketo, Inc. 2014 Marketo, Inc.Marketo Proprietary and Confidential1Shyna ZhangEnterprise Sr. Product Marketing ManagerAllison DryerDigital Services Sr. Solutions ConsultantPage # 2011 Marketo, Inc. Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and ConfidentialShyna Intro2Marketing Maturity Curve Traditional MarketingMarketing AutomationIntegrated MarketingRevenue Performance ManagementBasic Marketing Automation CRM IntegrationScoringAutomated NurturingUtilize the entire Sales Funnel & its Stages Targeted MarketingDetour StagesDynamic Lead RoutingTriggers & AlertsCreate a multi-touch attribution model and use it to tweak performance Attribution Model Operational ReportingSales Empowerment via CRM campaign executionPage # 2011 Marketo, Inc. Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and ConfidentialFirst Step on the Secret Sauce to Transformational Marketing Marketing Strategy (sounds buzzwordy, focus on areas & deliverables that allow you to determine your marketing strategy)Todays session will focus more on the How to & Things to think about25% of B2B Fortune 500 companiesalready use marketing automation, as do76% of the worlds largest SaaS companies.78% of high-performing marketerssay that marketing automation software is responsible forimproving revenue contribution.Marketing automation software only has 3% adoption in non-tech companies.Revenue in the marketing automation industry is predicted to grow by 60% in 2014.If 53% of companies are using the technology to better understand and optimize the buyer behavior and 17% are looking into it, theres a good chance your competitors are part of that majority50% of respondentsto a 2011 Focus survey stated they have not realized thefull value of their marketing automationinvestment, andless than 25%use their platforms to their full potentialGartner estimates a15% savings on creative productionwhen businesses use a marketing automation system.By 2020, customers will manage85% of their relationshipwithout talking to a human..58-70% of the buying process is completed before talking to a vendorMid-size to large companies focus more on product integration and analytics/reporting functionality when making a decision. Organizations struggle more with the lack of skilled employees and poor contact database quality. 85% of B2B marketers using marketing automation platforms in 2014 feel that theyre not using them to their full potential.There are currently more than3,500 job openings for Marketing Automation ManagersThe number of marketing automation jobs has increased by 25% in just the past 4 months.In October 2013, there were 2,800 job postings with marketing automation in the description.Marketing automation skills are among the most coveted digital marketing skills for 2014. However, theres a24% talent gap between how much marketing executives say they value marketing automation skills and how much marketing automation talent their teams actually possess.41% of B2B Marketers plan to increase their marketing automation budget in 2014.3Successful Marketing Automation Implementations ORGANIZATIONAL ALIGNMENTMETHODOLOGYPage # 2011 Marketo, Inc. Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and ConfidentialSteps to a successful marketing automation we know that transformational marketing is 20% tool, 30% methodology, and 50% organizational alignment. Weve seen the most successful enterprise marketing automation implementatons go through these steps, being extremely thoughtful through the process:Identify Biz Requirements: traditionally IT has a formal process to send to RFP, however, marketers are being tasked in the new world of the rising Chief Marketing TechnologistAlign internally: have the proofpoints to get the buy in necessarytoo often marketers try to work in a vacuum and exclude sales from the deal, this is paramount to successThe first step to implementing a marketing automation solution is to create alignment with your key department stakeholdersyour CEO, CFO, CIO, and others. Presenting your panel with a convincingcase for marketing automationis the first step, but once youve got buy-in, its crucial to follow up your initial pitch with check-ins, making sure the leadership team is consistently aligned with the goal.This sort of proactive air cover establishes a common definition of marketing success defined by key performance indicators (KPIs). Getting your company leadership to agree to exact KPIs ahead of time makes it easy to measure marketing automations success month by month. Of course, you may need to adjust your KPIs and your strategies as you learn from your marketing automation experience, but your new marketing solution will make this process transparent and easy.Keeping your leadership bought into your marketing automation initiative engenders an enthusiastic, top-down adoption throughout your organization, so the important thing is to check in consistently. Consensus and quantifiable vision will fuel your automated marketing initiative.Evaluate vendors and systems: play with the tools, feel comfortable, Implement & Train: celebrate successes, 30, 60 , 90 day planOnce you have top-level buy-in, take a look at your marketing department. Hire, inspire, and retain the best talent to ensure your success! Marketing automation thrives under a team that possesses a balance of creativity and analytic skills. As youbuild your marketing automation team, seek out marketers who are savvy at learning new software, able to think strategically, and are quick to adapt to new paradigms.The switch to marketing automation will require a little bit of technology training for most of your marketing organization. You can segregate your team into power users versus occasional users in order to train tactically. Your power users, obviously, must be enthusiastic technology adopters.Under the new paradigm, youll need a leader devoted exclusively to your marketing automation efforts. That leader should be a smart, progressive technologist who also understands your CRM system. Can you shuffle your current talent, or do you need to recruit a visionary with experience in marketing automation?Grow and Measure: hange management can be intimidating, and adopting marketing automation is definitely a process. The best way to manage the transition is to be organized, proactive, and metrics-obsessed. Have a clear 30-, 60-, and 90-day plan. Pulling campaign analytics reports on Day 14 is unrealistic. Instead, create success metrics for each juncture, and hold your new marketing team accountable to those expectations.Next, consistently report back to top-level executives to keep enthusiasm highin emails, at all-team meetings, and quarterly reviews. Celebrate the small victories. Set expectations that success will be incremental. The important thing is tostart now.The marketing automation tool you choose should offer hands-on implementation support. Many marketing automation software companies offer to send tactical consultants into clients offices to help implement marketing automation one detail at a time. At Marketo, our consultants focus on the four most common pain points we hear from our Enterprise clients: marketing strategy, cross functional alignment, measuring and reporting, and systems and technology.4Successful Marketing Automation Implementations ORGANIZATIONAL ALIGNMENTMETHODOLOGYPage # 2011 Marketo, Inc. Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and ConfidentialToday we will mostly focus on the first 2 steps of this journey 5Enterprise Focus Areas 2014 Marketo, Inc.Marketo Proprietary and Confidential6Marketing Maturity Assessment Deliverables 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential7Marketing Maturity Assessment 2014 Marketo, Inc.Marketo Proprietary and Confidential8MethodologyHow we conduct Marketing Maturity AssessmentAssess: Obtain baseline understanding of where you are today and what challenges youre facing as a team.Recommend: The output from the assessment is a detailed set of marketing automation (and process) recommendations. Plan: Following the recommendations read-back, well jointly create a plan for implementing the recommendations. Execute: Well we work your team to ensure the plan is executed. This execution can be done by your team alone or facilitated by Marketo in a series of workshops designed to ensure your success. 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and ConfidentialAllison Slide9How would you describe your marketing programs? random acts of marketingefficiently designed, target, and optimized - or we fall somewhere in between the top two 2014 Marketo, Inc.Marketo Proprietary and Confidential10How do you define a campaign?a campaign is a single piece of marketing such as a product webinar multiple messages sent with a common goal and aligned to the sales cycle - or we fall somewhere in between the top two 2014 Marketo, Inc.Marketo Proprietary and Confidential11How well targeted are your campaigns?we rarely segment our list and usually send the same message to everyoneour campaigns are personalized to each prospect and our messages adjust based on prospect behaviors - or we fall somewhere in between the top two 2014 Marketo, Inc.Marketo Proprietary and Confidential12How do you define campaign relevance? we decide what will be relevant to our audiences but messaging is usually the same for everyonerelevance is based on the content within the message as well as the timing of when the message is received - or we fall somewhere in between the top two 2014 Marketo, Inc.Marketo Proprietary and Confidential13What are the main limiting factors keeping your team from achieving its goals?alignment between Sales & Marketing and difficulties with strategywe need better technology in order to execute better campaigns - or we fall somewhere in between the top two 2014 Marketo, Inc.Marketo Proprietary and Confidential14How does Marketing support the effort of field Sales?we create marketing data sheets & content which can be given to prospects we have content aligned to the sales funnel and we've empowered the reps to send their own - or we fall somewhere in between the top two 2014 Marketo, Inc.Marketo Proprietary and Confidential15How does your team utilize the CRM tool currently in place? we use it for basic data input its our single source of truth as well as a tool for enabling sales to send messages to their prospects - or we fall somewhere in between the top two 2014 Marketo, Inc.Marketo Proprietary and Confidential16Marketing Maturity Assessment XYZ Companys Results Strengths:Strategic Goals Alignment Plan to Move ForwardIdentification of Challenges Weakness/Opportunity:Sales & Marketing SynergyMessaging RelevancyData SystemsMarketing KPIs Threat:Lack of Strategic Alignment between Sales and Marketing is making the facilitation of change difficult. While the Executives are in alignment of what needs to be done, the use of underdeveloped technology stacks is making it difficult to implement change where the weaknesses call for it. 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential17Gap AnalysisFinding the Gaps between Departments 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential18Recommendations BlueprintAlleviation of the challenges weve found 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential19Strategic Campaign Roadmap 2014 Marketo, Inc.Marketo Proprietary and Confidential20Marketing Campaign StrategyBuilding the Customer JourneyQuickly educates marketers on what they can do in the world of digital marketingVisually shows how marketers can run and launch their campaigns in MarketoEasy to follow format tailored to marketers industry, company, and customer personas#RevEngineCustomer Funnel 21Where Are You Today?YesNoDirect MailEmailSEOWebinarsEventsSocialDisplay (Retargeting)MobileYesNoPersonalizationTestingWebsite TrackingDynamic ContentSegmentationLead ScoringAutomationResponsive TemplatesMarketing ChannelsBest Practices#RevEngine22Business Case 2014 Marketo, Inc.Marketo Proprietary and Confidential23B2B Net Close Rates per 1,000 InquiriesSource: Sirius Decisions 20121.07% Today 2014 Marketo, Inc.Marketo Proprietary and Confidential#RevEngine 2011 Marketo, Inc.Marketo Proprietary and ConfidentialOne slide with animation/consolidate?Marketo Conversion Rate Data?Notes:The numbers [.28%] above mean that out of 1,000 inquiries, the typical organization will close 2.8 deals.Best practice companies, on the other hand [1.42%] , will typically close 14 deals out of 1,000 inquiries.24Baseline StatisticsSample* Industry standard of 46% has been applied to CTA to SAL 2014 Marketo, Inc.Marketo Proprietary and Confidential#RevEngine 2011 Marketo, Inc.Marketo Proprietary and ConfidentialRemove spreadsheet and visually represent 25Business CaseAnalyzing the ROI associated with your assessmentWell develop a Business Case to determine lift created by Marketing Automation and apply the findings to a return on investment case. 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential26XYZ CompanyActuals vs. Benchmark and Best Practice#RevEngine 2011 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and ConfidentialBenchmark could be peer comparison Speed to Conversion shorten sales cycleCost is generally something that is NOT brought up in the biz caseTime to Market is tough for VP of Sales/Marketing to ownLifetime Value of Lead 27XYZ CompanyPeer BenchmarksMETRICXYZ CompanyPeer AverageTop PerformerPeer Analysis Q4 2013ABC CompanyFake Co. Another CompanyGreat HoldingCOMPARISON18%15%13%20%10%(Great)CTA to SAL12 Mo Avg. 55%49%46%60%44%(ABC)Deliverability12 Mo Avg. 99.9%99%98.7%100%97%(ABC)3%2.1%1.82%5%1.0%(Another)Deals per 1,000 2.81.701.07Preview: business case projects XYZ at 1.07 to 2.8 deals per 1,000.Delivery to CTA12 Mo Avg. SAL to Close12 Mo Avg. (Fake)#RevEngine 2011 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential28Joint Execution Plan A roadmap for moving forward 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential29innovateA flexible, collaborative, and consultative assessment involving Marketos Digital Strategy Consultants and your cross functional teams. Assessments evaluate your sales & marketing strategy, cross-functional alignment, sales & marketing funnel, and measurement & reports to deliver strategic recommendations and plans for improvement. INNOVATE 2014 Marketo, Inc.Marketo Proprietary and Confidential30Takeaways & Q&ATransformational marketing is driven by tools, methodology & organizational alignmentAssess your organizations sales and marketing strategy, maturity, and overall readiness Engage with us to understand where you are today by looking at your Marketing Maturity Matrix, Strategic Campaign Roadmap, and Business CaseThank you! adyer@marketo.comszhang@marketo.com 2014 Marketo, Inc.Marketo Proprietary and Confidential 2014 Marketo, Inc.Marketo Proprietary and Confidential31Increase RevenueRevenue$470,007,433Average Deal Size$9,799Deals needed47,965Conversion RatesFunnel Throughput# of unique contacts480,546Name to Delivery98.70%474,299Delivery to CTA1.82%8,632CTA to SAL*46.00%3,971SAL to Close/Win13.00%516# of Touches474,299Marketing Deals / 10001.07Marketing Generated Rev.$5,058,3221BaselineDemand GenerationIncrease Average Deal SizeTypical Rates for the Average B2B Company:Inquiries to MQL: 4.4%MQL to SAL: 66%SAL to SQL: 49%SQL to Close: 20%The numbers above mean thatout of 1,000 inquiries, the typical organization will close 2.9 deals.Best Practice B2B Company Rates:Inquiries to MQL: 9.3%MQL to SAL: 85%SAL to SQL: 62%SQL to Close: 29%Best practice companies, on the other hand, will typicallyclose 14 deals out of 1,000 inquiries.http://effectivemarketer.com/tag/b2b-demand-creation/Tony Jaros, SVP, SiriusDecisionsShorten Days in Pipeline

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