Modern Marketing Automation Overview
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Marketing AutomationMODERN MARKETING APPLICATIONS
What is Marketing Automation?Marketing automation focuses on the lead acquisition and demand generation activities within a marketing group, as opposed to the sales activities, where CRM systems as a whole tend to focus. Simply put, these tools automate marketing processes everything from strategic planning and campaign design to customer segmentation, lead generation, nurture campaigns, prospect scoring, and closed loop analytics
Why use Marketing Automation?Many B2B and recently some B2C companies, have large databases of prospective customers they need to manageMarketers often wear many hats, its impossible to look at each individual leadAutomation allows marketers to set rules for what happens to each lead that enters the databaseMarketers want insight into the overall big picture, the demand funnelWhat campaigns are performing well, where am I seeing a positive ROI?Am I meeting my demand generation goals?Lead volumesSales conversionsBudget
Examples of automation toolsA few popular platforms..MarketoSilverpopEloquaHubSpotPardot
A few Things to considerCost of initial investmentOften increases as the size of your database expandsSwitching costsIntegrating a marketing automation system with your existing CRM and marketing is no easy taskCan takes months of work with many stakeholders including sales, operations, engineering, IT and the marketing teamsData integrityDo you trust the data your company has already collected? What about now?When you automate tasks, there is always a chance for disaster. You need to be sure of what you are doing, the outcomes and how it is going to affect your prospect and customer databasesReportingEveryone will want to know what you are doing, the net effect of your results and how much it costs!
Lead ManagementLead Scoring behavioral and demographic fit for your organizationCan assign point values based on desired attributesCan be different for different product or sales groupsAssign a threshold value that makes logical sense, and then adjust based on feedbackLead Lifecycle understanding the typical progression of a lead, conversion times, recycled leads, bad fit, nurtureYou need to be able to quickly investigate a history of any given lead at a moments notice, being able to understand the progression of a lead, and how your company has interacted with them in the past, can help create trust and a strong foundation with your prospective customers
Sales Lead IdentificationWhat defines a good sales lead?What types of things are important for the sales and marketing teams to collaborate on?What does a sales driven organizational model look like? Marketing driven?What are the common goals of your sales and marketing organization?
Service Level Agreements (SLA)One of the most important, if not most important aspects of being a successful demand gen marketerExplicit level of service you and your team agree to supply qualified lead to sales teamDemographic factorsCompany SizeIndustry VerticalsJob LevelJob RoleBehavioral factorsContent DownloadsContact RequestLead Routing based on sales organization hierarchy
How are we measured?Modern marketers are ultimately responsible for their contribution to the their organizations top line revenue (bookings)We look at what happens at the top of the demand funnel through pass over to sales, qualification, opportunities and ultimately bookingsInquiries, AQL, TAL, TQL(MQL), SAL, SQLNumber of opportunities, new logos
Lead NurtureLeads are expensive! Cost per lead (CPL) can range anywhere from a few dollars to over $100 just for one lead!Hopefully, when you pay for a lead, they will be the right fit and ready to purchaseThis isnt always the case, automation allows for strategic email nurturing to move leads through your marketing funnelCan be based on different behaviors, or desire actions and outcomesOften content-centric, awareness and consideration assets
Future of marketing, today?Modern marketers are for the first time being measure on what effect they have on top-line revenue at organizations. The days of marketing being an art and less of a science are fading awayBeing able to know what your demand pipeline looks like, and how you can improve conversions, opportunities and closed/won business at any point in time is paramountMost companies have no clue! Yes, they have the software, theyve signed the contracts, but their data is a mess, and they have no idea how to fix itAll of these skills are learned on the job, no one comes out with a degree in marketing or an MBA and is expected to be an expert in these tools
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