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Marketo's Secret Sauce for Revenue - a Practical Case Study [#DemandCon]
Marketo's Secret Sauce: Smarter Marketing for Best Results
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MARKETO’S SECRET SAUCE: SMARTER MARKETING FOR BETTER RESULTS Jon Miller VP, Product Marketing & Co-Founder Marketo @jonmiller #SugarCon
description
You’ve heard the buzz about marketing automation and how it can help maximize your marketing efforts. But do you really grasp its full potential? Get the inside scoop from Jon Miller (@jonmiller), VP Marketing and co-founder at Marketo. In this session, Jon will share an up-close and exciting look into the content marketing, lead generation, and marketing automation strategies that are driving Marketo’s growth, including: - Key trends driving marketing automation - Designing programs to be measurable - Key lessons to improve your performance, profitability, and credibility with marketing metrics and analytics - How the experts at Marketo do it themselves, including actual examples of how Marketo’s smart and innovative programs produce eye-popping results
Transcript of Marketo's Secret Sauce: Smarter Marketing for Best Results
MARKETO’S SECRET SAUCE: SMARTER MARKETING FOR
BETTER RESULTS
Jon Miller
VP, Product Marketing & Co-Founder
Marketo
@jonmiller #SugarCon
INFORMATION SCARCITY
WE USED TO LIVE IN A WORLD OF
ABUNDANCEINFORMATION
Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012.
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Marketo’s Revenue Cycle
TOFU MOFU
Opportunity CustomerLead
Sale
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Nurturing Database
BOFU
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Exposed to us via content, brand, or word of mouth
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Feels a relationship and trust with us
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Names are just names.
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Meaningful interaction with us
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Qualified potential customer Nurture until sales ready
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Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out
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Qualified as sales-ready by Sales Development Rep (SDR)
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Accepted and actively worked by sales:marketing quota attainment
Top of the Funnel
Blog, e-books, research data, funny videos, curated lists, infographics, webinars
NO
YES
MOSTLYNO
Thought leadership and enjoyable content to build brand, awareness, and desire
Tools that help buyers find you when they are looking for solutions
Company-specific information to help evaluate and reaffirm selection
Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports
Pricing, demos, services information, 3rd party reviews, customer case studies
Gated?Early Stage
Middle Stage
Late Stage
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Inbound creates the best leads by far: high conversion, high velocity
Page 23 © 2014 Marketo, Inc. #mktgnation14
Page 24 © 2014 Marketo, Inc. #mktgnation14
Customized messaging for visitors who use other marketing automation
Page 25 © 2014 Marketo, Inc. #mktgnation14
For visitors in B2C industries
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
But we also use a Portfolio of programs
JUNEDATE:
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Sponsored Email builds the database, but low conversion
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Webinar, tradeshow, PPC, and virtual tradeshow are top paid TOFU
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Paid Social & Display Ad drive brand and amplify inbound as well
Middle of the Funnel
Sales doesn’t want
names – they want
“Win Ready” leads
@jonmiller
Sales Ready
Source: RainToday
25%
50%
25%
2%
Need More Nurturing
Disqualified
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Average days to Opportunity: 327 days
Lead Nurturing: Building relationships with
qualified prospects regardless of their timing to buy
-- @jonmiller
Relevance
Get the “Definitive Guide to Lead Nurturing”marketo.com/DG2LN
More Targeted Emails are More Relevant
100 1000 10000 1000000
50
100
150
200
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Email Send Size
Enga
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core
Source: 100s of Marketo campaigns
A
B
C
D
1 23
Stages
1. BUYING STAGES• Early: Be a Better Marketer• Mid: Why Marketing Automation• Late: Why Marketo• Customer: Success
2. BUYING PROFILES• Marketing• Sales• Exec
Industry, Geography, Company Size, Customer
vs. Prospect, etc.
The Key to Relevance is Behavioral Targeting
Top Tactics to Increase Email Engagement
Example: Topic of Interest Triggers
• Attends event• Downloads content• Click email• Fills out form• Score is changed
Social
Content
Technology
Standard Nurture Triggered Interests Lift
Open % 21.7% Open % 34.0% 57%
Click to Open % 23.4% Click to Open % 37.1% 59%
Click % 5.1% Click % 12.6% 147%
Scoring and Lead Management
Lead Scoring Defined“Shared sales and marketing methodology for ranking leads in order to
determine their sales readiness”
Nurture Nurture DisqualifyPass to Sales
Pass to Sales
Fit Interest Buying Stage
@jonmiller
Demographic “Fit” Score
Positive Demographic Score• e.g., Marketing Manager title, known CRM customer,
known competitive solution customer
Negative Demographic Score• e.g., Generic email address, illegitimate phone number,
non-existent company (unemployed, self, looking)
Data Augmentation, Not Forms
Form Completion for Data Augmentation
Hidden Fields
• Early stage content +3• Attend webinar: +5• Visit any webpage /
blog : +1• Visit careers pages: -10• Decay inactivity:
-1, -5, -10
Latent Behaviors (Engagement)
• Pricing pages: +10 • Watch demos:
• +5 overview • +10 detailed
• Mid-stage content +8• Late-stage content +12• Searches for branded
keyword “Marketo” +8
Active Behaviors(Buying Intent)
Get The “Definitive Guide to Lead Scoring”http://marketo.com/DG2LS
One Way to Identify Marketing Qualified Leads
A Lead Lead Lead
B Lead Lead
C Lead
D4 3 2 1
Fit
Behaviors
No Lead Left Behind: Service Level Agreements
Revenue Analytics
Accurately Tracking “Investment” vs Budget
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
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: • Person A attended Seminar A and Trade Show B• Person B attended Trade Show B• Person C was sent Direct Mail C
$100,000 Revenue
$25,000 $25,000 $25,000 $25,000
Seminar A$25,000
Tradeshow B$50,000
Direct Mail C$25,000
Source: Marketo Revenue Cycle Analytics, Apr 2014* Percentage of all programs in channel that achieve MT Ratio > 5
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
Source: Marketo Revenue Cycle Analytics, Apr 2014* Percentage of all programs in channel that achieve MT Ratio > 5
(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
Source: Marketo Revenue Cycle Analytics, Apr 2014* Percentage of all programs in channel that achieve MT Ratio > 5
% Programs with MT Ratio > 5e.g. Tradeshow has good average but 49%
programs “fail”
Revenue Cycle Modeler
Screenshot: Marketo Revenue Cycle Analytics
Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc.
Key topic areas:• Balance (Reach)• Flow• Conversion• Velocity Trends over time
Screenshot: Marketo Revenue Cycle Analytics
Use Metrics to Set & Justify Budgets
New Targets
60,000
InventoryOf ActiveTargets
131,000
New MQLsScore>100
23,00015.3%
Inventory of Active MQLs
10.5% 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
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120,000(900K DB Total)
New Names
New SQLs
922
2.4%
1.9%
75%
Win
s35% win
Marketing Forecasts
Get The “Definitive Guide to Marketing Metrics & ROI”
http://marketo.com/DG2MM
Tweetable Takeaways
1. The way buyers buy has changed forever – the way we market and sell must change as well
2. Define the stages of the buying cycle, in alignment with sales
3. Map content and marketing to the buyer’s journey: early, mid, late stage
4. Most leads are not “sales ready” – nurture relationships over time, use online body language to score leads
5. Use analytics to turn marketing from a cost center into a revenue driver
@jonmiller
