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Accelerate Revenue with LEAN Digital Strategy | Webmarketing123 & Aberdeen
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Transcript of Accelerate Revenue with LEAN Digital Strategy | Webmarketing123 & Aberdeen
Accelerate Revenue with
Lean Digital Strategy
Oct 17th, 2013
Paul Taylor
CEO
2
Agenda
Since 2004, we’ve employed a
metrics-based approach to
converting online visibility into
measurable business results
1 The Modern CMO Challenge Tackling the New B2B Sales Funnel
2 Lean Tools for the Digital FrontierFueling Revenue with Lean Marketing
3
ModernCMO Challenge
Image Source: Salesforce & Pardot, ‘The Modern Marketer’
4
The Modern B2B Marketer
Part Artist Part Scientist Creative Content
Visual Media
Social Media
Email Marketing
Tracked Performance
Operations
Analytics
Return on Investment
All of this boils down to 2 MAJOR CMO Challenges:
5
All of this boils down to 2 MAJOR CMO Challenges:
“2/3 of CMOs will be held accountable for ROIby 2015. But, HALF feel insufficiently prepared to provide hard numbers.”
- IBM 2013 CMO Study
Increasing ROI Accountability 1 CMOs are expected to pioneer digital with calculated certainty.
Increasing ROI Accountability
6
All of this boils down to 2 MAJOR CMO Challenges:
1 CMOs are expected to pioneer digital with calculated certainty.
Proliferation of new digital channels magnifies the problem.
- Webmarketing123, 2013 State of Digital Marketing Report
1 in 4 marketers don’t know which
channel delivers the highest quality leads.
1 in 3 don’t know which channel generates
the most revenue.
7
Then Now
Increasing Funnel Complexity2 Navigating the ‘hidden’ sales cycle of the new B2B buyer.
Source: Branding in the Digital Age, McKinsey, HBR, Dec. 2010
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Increasing Funnel Complexity2 Navigating the ‘hidden’ sales cycle of the new B2B buyer.
Buyers are moving 60%of the way through the sales funnel before they engage with sales reps.
Source: Corporate Executive Board, The Most Important Number in Marketing, Aug. 2011
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Increasing Funnel Complexity2 Navigating the ‘hidden’ sales cycle of the new B2B buyer.
Are you on their radar, especially in the EARLY stages of the sales cycle?
Contacts sales rep directly.
Google searches services.
Reads peer reviews.
Sees competitor display ads.
Discovers blog covering vendor differentiators.
That means nearly 2/3 of the customer journey is completed BEFORE they appear on your radar.
10
So, What’s a Modern CMO to Do?
Build a data-driven digital marketing strategy that delivers with lean execution.
Here’s how to get started:
Image Source: Salesforce & Pardot,‘The Modern Marketer’
11
Agenda
Since 2004, we’ve employed a
metrics-based approach to
converting online visibility into
measurable business results
1 The Modern CMO Challenge Tackling the New B2B Sales Funnel
2 Lean Tools for the Digital FrontierFueling Revenue with Lean Marketing
“Agencies that apply lean tools
get 33% Better Results.”
12
Why all the hype about lean tools?
- Boston Consulting Group, ‘Cutting Complexity Adding Value’, May 2013.
Real Client Results
14
Lean Digital Marketing enables
our clients to:
1 Get results 66% faster.
2 Cut cost per lead in half.
3 Experience 2X lead volume.
4 Gain $8 pipeline revenue for every $1 spent.
Case Study: $16B Manufacturing Company
Dominated offline market, but lacked cohesive onlinepresence and lead gen.
Decentralized BUs focused on vanity metrics.
Developed kaizens to implement programs and accelerate lead gen from search.
Standardized scorecards, benchmarks, & projections.
Lead 23 Operating Companies across 5 countries through 25+ Kaizen Workshops to accelerate global digital marketing lead gen growth.
Case Study: $16B Manufacturing Company
BOTTOM LINE: 38,000 Sales Leads Worldwide in 18 Months.
Case Study: Zenprise
Extremely competitive, mobile industry keywords.
Internal team lacked bandwidth. Needed to increase lead
volume.
Implement lean accelerator launch.
Set benchmarks w/ scorecard accountability.
Create decisive action plan.
Case Study: Zenprise
BOTTOM LINE: 8X Return on Search Investment
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Where does lean fit in?
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Accelerate the B2B sales funnel with
3 Steps:
1 Calculate your revenue opportunity from search.
2 Measure channel effectiveness with multi-touch
attribution.
3 Get better & faster results with the Lean Process.
21
Calculate Search Opportunity1 Quantify Digital Marketing Opportunity in Terms of Dollars.
Example: “As a channel, search is worth nearly
$1.6 BILLION for us.”
- Raj Rao, 3M VP Global eTransformation
22
Keywords Monthly Search Volume
Resource management 673,000
Portfolio management 207,000
Project management software 59,200
It governance 27,600
Software project management 15,700
Project management tools 14,800
It project management 12,100
Project management office 8,700
Project portfolio management 6,600
Total Monthly Searches 1,024,700
Monthly Cost of Not Ranking on these Keywords
Click Through Rate
(7%, page 1 average)71,729 new website visitors
Visitor to Lead Rate
(1-3%, B2B average)1,793 new leads
Raw Lead to Qualified Rate
(15%)269 new qualified leads
Lead to Sale Rate
(10%)27 new deals
Average sale price $100,000
$2,700,000 monthly revenue
Annual Cost of Not Ranking $32,400,000 annual revenue
A simple calculation can inform you how much revenue you are missing by not ranking on search engines for top keywords:
Cost of Not Ranking Formula
Calculate Search Opportunity1 Quantify Digital Marketing Opportunity in Terms of Dollars.
Cross Channel Attribution2 Streamline campaign optimization w/ multi-touch attribution.
Close the gap by tying SEO, SEM, & Social visitor data to won deals in CRM.
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Optimization
Feedback
Loop
Cross Channel Attribution2 Streamline campaign optimization w/ multi-touch attribution.
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Fuel Revenue with Lean Tools3 Applying traditional lean process to digital marketing.
Research,
Competitive Audit
and
Opportunity Analysis
Accelerator Launch Implementation Tracking & Adjustment
Research,
Competitive Audit
and
Opportunity Analysis
Reporting with
KPI Scorecard,
Attribution
and Optimization
KeywordsSelection and
Mapping
ContentBlog, Press Releases,
White Papers,
“How-To”, News
Inbound
Links
Social
Signals
Meta
ContentPage Titles, URL’s
Site
Architecture
26
Fuel Revenue with Lean Tools3 Applying traditional lean process to digital marketing.
Kaizen Accelerator Workshop
1. Establish cross departmental commitment.
2. Detail accountability.
3. Complete all pre-launch tasks.
Accelerator Launch
Example Workshop Deliverable: Action Plan with Owners
Fuel Revenue with Lean Tools3 Applying traditional lean process to digital marketing.
28
Fuel Revenue with Lean Tools3 Applying traditional lean process to digital marketing.
Execute on Action Plan
1. Launch SEO, SEM, & Social campaign components.
2. Optimize for continuous improvement based on scorecard benchmarks.
Implementation
29
Fuel Revenue with Lean Tools3 Applying traditional lean process to digital marketing.
Scorecard AccountabilityMeasurement
1. Focus only on the best
leading metrics to
revenue.
2. Adjust with Root Cause
Counter Measure.
30
Use Lean Tools to Realize
3 Key Takeaways:
1 Quantify your revenue opportunity from search to
inform your digital marketing strategy.
2 Measure channel effectiveness by revenue with
multi-touch attribution.
3 Get better & faster results w/ accelerated Lean
Process.
31
Thank you!
32
Keep the discussion going.
Connect with us on LinkedIn:
Join our new Bay Area CMOs LinkedIn group to stay in touch.