Marketing Automation: The Power and the Glory
-
Upload
act-on-software -
Category
Technology
-
view
434 -
download
1
Transcript of Marketing Automation: The Power and the Glory
MARKETING AUTOMATION:
The Power and the Glory
Wednesday, June 12
Sponsored by:
Our Sponsors
Christopher Hosford
East Cost Bureau Chief
BtoB & BtoBonline.com
Moderator
Submit
Questions
Housekeeping
Download
Slides
Housekeeping
TWEET
#B2BWC
MARKETING
AUTOMATION
THE POWER OF
Panel
Jon Russo
Marketing technology consultant
B2B Fusion
Sal Abramo
Director-marketing operations
Thomson Reuters
John DiStefano
Research Director
BtoB Magazine
John DiStefano
Research Director
BtoB Magazine
Panelist
10
Marketing Automation Report
DRAFT WEBINAR SLIDES
June 2013
BtoB magazine 11
Introduction/Methodology
•From the period of April 8 to April 25 the true population of B2B
marketing professionals in the US were researched via a 33 question
online survey.
•A representative sample of the BtoB marketers audience was invited to
participate in the survey via email.
•A sample of 204 completes among marketers who are using marketing
automation was achieved.
•Confidence Interval: 95%
•Margin of Error: +/- 7%
Methods and procedures adhere to the standards and ethics established
by the Market Research Association (MRA-net.org). Individual
participant or participant company names are not disclosed. Results are
reported in aggregate only.
Fair Use Policy
All rights reserved. Crain Communications BtoB magazine. BtoB magazine grants the right to use when attributed to Crain
Communications/BtoB magazine. The opinions expressed herein are subject to change without notice.
BtoB magazine 12
Marketing Automation
BtoB magazine 13
Highest Level of Involvement
in Marketing Automation
13
N=452
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 14
Marketing Automation Adoption
14
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 15
Years Using Marketing Automation
15
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 16
Demand Gen Aligned with
Buyers Purchase Path
16
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 17
Most Important Marketing Channels
17
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 18
Satisfaction with Level of Contacts
18
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 19
Satisfaction with Current Lead Management
19
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 20
Need for Marketing Automation Functions
20
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 21
Funding Source for Marketing Automation
21
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 22
Time to Implement Marketing Automation
22
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 23
ROI Metric
23
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 24
Time to Positive ROI
24
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 25
Marketing Automation Value Proposition
25
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 26
Preferred Marketing Automation Features
26
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 27
Marketing Automation Vendor Value
Proposition
27
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 28
2014 Marketing Automation Adoption
28
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 29
2014 Marketing Automation Adoption
29
Source: BtoB magazine: 2013 Marketing Automation, May 2013
BtoB magazine 30
Obstacles
30
N=204
Source: BtoB magazine: 2013 Marketing Automation, May 2013
Sal Abramo
Director-marketing operations
Thomson Reuters
Panelist
SM
Sal Abramo Director of Marketing Operations Thomson Reuters, Inc. Profile: www.linkedin.com/in/salabramo
Marketing Automation – View From The Front-Line
CMO
Dir of Marketing Operations
Global Demand Generation Center Of Excellence
Business Units
Operations / Execution
•Translate strategic objectives to measurable demand gen categories, definitions and execution •Driving demand gen top-down goals recommendations •Planning tools, and waterfall objectives for efficiency gains •Definitions and global category alignment •Driving, lead scoring, SLA development and process definition •Best practice, training, documentation and coaching
•Reporting execution (real-time, weekly, quarterly, daily) one version of the truth available to all stakeholders 24/7 •Actions, recommendations on variances to goal along with plan development and execution •Lead /play discussion and evaluation, scoring, delivery to sales and SLA based action plans and results analysis •Play and campaign phasing and calendaring •Marketing Automation Platform management and program execution including regional support
Central Marketing, Content & Messaging
Strategy
Regional Marketing
The Challenge Of The New B-to-B Buyer
Buyers are more informed
Buyers need more (and earlier) ROI Buyers are less likely to engage earlier
• Access to Content
• Peer Network
• Access to Data • Reason to Change
• Peer Examples
• Executive Support • Self Service
• Network Introduction
• Events Not Working
The sales cycle has changed The biggest challenge is getting the buyers attention
Typical Buying Cycle
Recent research indicates that typically the first 1/3 of the buying cycle - The Education Phase does not involve interacting with a sales rep
Event
Thought
Leadership
Marketing Leads
Industry Content
Email Intro
Event Invite Demo
Value
Demonstration
SME
Access
Competitive Review
Event
Invite
Sales Intro Exec
Value
Demonstration
Competitive Review
SME
Access Exec
Briefing
Reference
Invite
Marketing has an opportunity to align with sales and accelerate
The Buyers Journey
Sales and Marketing Alignment
Mission An mutually agreed to mission understood by sales and marketing
This is achieved via
• Clear roles
• Common definitions
• Assigned and understood partnerships
• Agreement and commitment to a plan
• Shared success benchmarks
• Performance objectives
• SLA’s in place
Communications Written and verbal Communications with agreed upon frequency that supports and maintains an
open dialog at all levels
This is achieved via
• Business partnership
• Cadence calls
• Frequent day to day interaction
• Plans, activities, schedules, campaign announcements
• Shared dashboards & KPI’s
• Debriefing & celebrating success
Process Development, agreement, communication and commitment to Processes is essential to achieve
business goals
This is achieved via: • Planning & approval processes • Operational processes
– Lead scoring & qualification process – Lead routing process – Lead action and SLA based processes
• Customer centric sales processes • Reporting processes
– Commitment to keep data current & updated – Consistent dashboard metrics – Closed loop reporting
Tools Seek and deploy tools that demonstrate results, remove ambiguity, facilitate the sharing of
information, and enable teams to replicate success
• CRM tool – Leads, pipeline, revenue, opportunity management, telemarketing, measurement & reporting
• Marketing Automation – Campaign management, lead scoring, tracks program results
• BI & Visualization tools – Model and strategize campaign execution, advanced list management, visualize integrated marketing results
• ERP and Web-Based tools – Manage and track orders and customer activity, execute and leverage web and social media interactions
Sales & Marketing Alignment Dimensions
• Mutual agreement on: – Goals and success measures
– Lead scoring, SLA’s, action process…
– Targeted segments, sub-segments, accounts
– Campaign and selling plays and themes
– Budget priorities by region
• Jointly shape strategic account planning
• Foster and strive for an environment of….Mutual Respect and corporation
Measuring Lead Quality Key
• Lead results in closed business! • Acceptance/rejection rate of leads • Lead is advanced thru demand funnel and
contributes to active company pipeline – As documented in sales cycle stage reports – Lead velocity reporting – speed from inquiry to close
• Lead to opportunity conversion – Target is 25%-30%
• Leads are BANT qualified • Regular qualitative feedback from sales team
Align Around the Funnel A great place to start!
•As leads are entered in the system at the Inquiry or Marketing Qualification stage, it is processed by the Inside Sales team •Inside Sales does initial touch qualification and determines if it is worth further sales qualification •Once a lead is assigned to Outside Sales for further follow up , contact it enters into the Sales Qualification stage •The Outside Sales rep can accept, reject, qualify or designate as an opportunity at this stage •Won business
Lessons Learned • Sales and marketing alignment central to success – a shared understanding of the
buying process is critical – establishment of SLA’s great first step
• Marketing automation will not fix broken sales and marketing processes – stuck in batch and blast, hunch based, outbound only processes …..simply do not work
• Highly targeted, valued content, personalized, right person, right time, right message is critical……always oriented to a clear call to action
• A healthy, ever-growing and engaged database is core to success – focus on opt-in, white listed, targeted nurturing with all content sent of high-value
• Customer and prospect engagement happens on many dimensions, face to face with outside sales, over the web, via social media, telemarketing, physical events…contacts are not just sitting around waiting for the next email
• Always keep demand type front and center…new concept, new paradigm, focused at existing customers, established market...etc. Is the task fishing or farming?
• Reduce waste by targeting as tightly as possible ….think personalized and tailored
• Development of personas is key to segment and engage targeted audiences
• Examine and align the sales process to The Buyers Journey – always seek better ways to engage with targets
Coming together is a beginning.
Keeping together is progress.
Working together is success.
-Henry Ford
Jon Russo
Marketing technology consultant
B2B Fusion
Panelist
© 2013 B2B Fusion Group / Proprietary & Confidential
Date Prepared for
© 2013 B2B Fusion Group / Proprietary & Confidential
June 2013
Jon Russo, Founder
B2B Fusion Group
Generate. Optimize. Close.
Marketing Automation Key Success Ingredients
© 2013 B2B Fusion Group / Proprietary & Confidential
B2B Fusion: A Relentless focus on Marketing ROI
50
CMO - Marketing What is the ROI of
our Marketing Investments?
How do we produce more sales ready
leads?
CSO –
Sales How can we
maximize sales rep selling time?
How can we minimize sales rep distractions
via our CRM data processes?
How do we track, trend, and improve our performance
as a combined sales & marketing revenue machine?
© 2013 B2B Fusion Group / Proprietary & Confidential
• Data and its business impact: • High quality data correlates to 39% more closes & 66% more revenue
• 30%+ of names, titles or phone numbers in a database go bad annually
• 25% of a field sales rep’s selling TIME is wasted with incorrect data
• How the selling environment has changed: • For every 650 leads, 1 deal is closed in 19 months
• For $1B Firm, cost of Poor Sales Enablement is $14M and an additional
$100M in lost revenue
• 43% of B2B companies indicate that sales cycles have lengthened over the
past three years
The Situation
51
Gartner 2013, IDC 2013, Alinean 2013, Discover.org 2013, Data.com
© 2013 B2B Fusion Group / Proprietary & Confidential
DATA: Not Sexy, But Oxygen to success
52
© 2013 B2B Fusion Group / Proprietary & Confidential
Nurture
Fuzzy Sales & Marketing Definitions = Fuzzy ROI
Define your lead lifecycle within your systems
53
Inquiries MQL LGQL SQL Customers
Prospect & Recycled
(Marketing Qualified Lead)
Sales
Accepted Lead
Sales Qualified
Opportunity
SALES MARKETING
All
Names
Lead Gen
Qual. Lead
SAL
LEAD
GEN
INSIDE
SALES
© 2013 B2B Fusion Group / Proprietary & Confidential
43% of Business IT investments not living to full potential
Look for creative ways to accelerate progress by augmenting
skillsets…
54
Description XYZ Today Annualized Estimated
USD Cost
People 33 Sales People $3,300,000
2 Inside Sales People 200,000
9 Marketing People 900,000
Programs Marketing Programs 900,000
Technology CRM:
132 Enterprise Licenses 198,000
Marketing Automation
Enterprise License: 30k records 36,000
10 data source License:
$.42/record 15,000
Annual Total $5,549,000
Gartner 2013
© 2013 B2B Fusion Group / Proprietary & Confidential
Marketing ROI – Harder than it looks
55
© 2013 B2B Fusion Group / Proprietary & Confidential
• Invest time in data integrity and processes
• Clearly define ownership, stages, processes with sales & marketing
• Make sure you do more than just e-blasts with your automation investment
• Set the right Marketing ROI expectation of a journey, not an overnight destination
Key TakeAways
56
© 2013 B2B Fusion Group / Proprietary & Confidential
Contact Information
57
Jon Russo
www.b2bfusiongroup.com
@b2bcmo
© 2013 B2B Fusion Group / Proprietary & Confidential
Our Customers
58
Referenced by Forrester Research:
2011, 2012, & 2013
Best B2B Best Practices,
KPIs, and Buyers Journey
Referenced in Forbes 2012
Q&A
We’re Sorry
We are experiencing technical difficulties.
Please stand by.