Revenue Marketing University - The Pedowitz Grouprevmarketer.pedowitzgroup.com/rs/pedowitzgroup2...A...
Transcript of Revenue Marketing University - The Pedowitz Grouprevmarketer.pedowitzgroup.com/rs/pedowitzgroup2...A...
11/14/2012 The Pedowitz Group ©20121
Revenue Marketing UniversityEducation for Marketing Executives
Class 3 - Technology:
Marketing Automation Technology and CRM -
The Value They Bring
The Pedowitz Group
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Welcome!
770-331-4443
Twitter: @revenuemarketer
LI: dqaqish
Debbie Qaqish
Partner & CRMO
The Pedowitz Group
Goal: To provide education
based on real-life best
practices and peer networking
that will help marketing
executives transform their
organizations from cost centers
to revenue centers.
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The Six Week Syllabus
October 17
o "Does Marketing
Automation Really Matter?”
October 30
o The Revenue Marketing
Transformation: Revenue
Marketing Journey
November 14
o Technology: Marketing
Automation Technology and
CRM - The Value They Bring
Faculty:
Jim Lenskold
Lenskold
Group
Faculty:
Amy Hawthorne
Rackspace
Faculty:
Alan Scheik
Cisco Capital
Faculty:
Nancy Harris
Sage
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The Six Week Syllabus
November 28
o Strategy & People: Create a Revenue Marketing Center of Excellence & Key Roles Required for Revenue Marketing
December 5
o Process & Content: The Revenue Marketing Process & Content is King
December 19
o Results: Marketing
Automation Delivers Measurement
Faculty:
Liz McClellan
PGi
Faculty:
Patty Foley-
Reid, Iron
Mountain
Faculty:
Jim Kanir
Billtrust
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Attend, Test and Earn
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Connections
� Tweet if you hear something worth
sharing!
� @revenuemarketer
� Tell your friends and colleagues to join
� Register
� Have access to all replays
� Connect with me on LinkedIn!
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Nancy Harris—Your Instructor Today
� VP/GM at Sage
� 25 year career in high tech companies
� Product marketing, product
management, R&D, services and GM
roles
� RPM champion at two different
companies
� RPM is way that executives MUST
think
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Marketing’s Journey: The Maturing Framework for RPM
Revenue Maximized
Revenue Minimized
TraditionalManaged
EngagementRPMAlignment
• Marketing and
Sales managed
separately
• Marketing focused
on raw leads
• Agreement on
aligned lead
definition
• SLAs not
implemented
• Implemented
Eloqua or similar
• Increased focus on
volume and quality
of leads driving to
a Lead
Development
group
• Increased focus on
timing of follow up
• Set pipeline goals
• Well defined lead
stages between
sales and
marketing
• Nurture marketing
• Closely monitor
lead conversion
metrics
• Enforce SLAs
• Mutually set
pipeline with lead
rating and scoring
• Integrated CRM
and automation
systems
• Defined funnel
stages and SLAs
New RPM
dashboard
Maturity
Stages
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Marketing Must Improve Effectiveness
Source: CSO Insights Annual Survey of 2000+ firms
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Campaigns Changing From Batch and Blast
to Relevant Content Marketing
� Successful customer engagement and experience depends on relevance
� Relevance requires that we continuously adapt our outbound
communications based on recent observed behavior – we leverage
Marketing Automation
Digital Body Language
TouchesProspectsMarketing
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A New Sales and Marketing Playbook
Leading edge marketing organizations have a strategy for managing a
company’s interactions with buyers through the entire purchase process
to expedite predictable and profitable revenue growth.
A new sales and marketing playbook to manage revenue growth
consistently by:
� Transcending the traditional silos of sales and marketing teams
� Accurately profiling customer information and behavior
� Guiding customers through the buyer’s journey with relevant and timely
messages
� Measuring and managing results at every stage
� Sending a consistent brand message to the market
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A Rigorous Revenue-Based Approach
Web
(PPC, SEO)
Build a framework to measure, refine, collaborate and optimize top line revenue
Recycle Deferred, Unresponsive Leads
13% Close Rate
50% SAL Rate
15% MQL Rate
80% Activity Conversion Rate
Lead Aggregators
Telemarketing
Webinars
Campaigns
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Metrics: Changing from Reporting Activities to
Reporting on Results
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Lessons I Learned
� Key takeaways
� Whole new way of thinking
� Sales/marketing must interlock
� Technology is the foundation
� Organization is critical
� Business case/justification is a must
� Do this or the sales/marketing world will pass
you by
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Technology is Critical
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Technology’s Role
Marketing Sales
CRMMA
Prospects and
Customers
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Technology Ingredients
Technology is key in transforming marketing into a revenue center
Integration of MA and CRM creates foundation for reporting on ROI
� Marketing Automation � Fastest growing category in CRM over next four years
• By 2017, CMOs will have bigger IT budgets than CIOs
� Track prospect behavior and nurture accordingly, score, and route to sales• Not one size fits all—number of options on the market
• Field an RFP to determine right platform for you
� CRM� Tight integration between MA and CRM is key
� Affects timeliness of follow up—leads flow directly into CRM
� Affects efficiency of reps—lead scoring means mutually defined, qualityleads go into CRM
� Provides 360 degree view of the prospect and ultimately, the customer
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MAP Evaluation Checklist
Vendor Capability Comments Ranking
System Integration Integrates with point marketing tools , CRM, webinar tools ,
socia l media?
Dynamic database capabi l i ty Consol idates information about prospects into one dynamic
profi le?
Content management Populates e-mai l s with dynamic content beyond greetings?
Attach gated forms?
Lead generation and mgmt Progress ive profi l ing, lead scoring, hot lead l i s t bui lding
Automated programs Drip marketing, trigger marketing when action triggers a
response emai l .
Lead scoring Based on expl ici t and impl ici t data? Can you apply a
negative score? Apply a time frame?
Emai l Fast campaign creation, CAN-SPAM compl iance, templates
shared with CRM?
Webs i te Integration Integrates with Google Analytics or other, web page and
domain tracking, landing page creation?
Ease of Use/Usabi l i ty Clean, s imple, intui tive dashboard, logica l work flow,
dia logue clear/without jargon
Reporting and Analytics Integrates data returned from multiple marketing tools
(socia l media, webs i te vis i tor reports ) for s ingle prospect
profi le? Metrics for CxO suite?
Speed Abi l i ty to quickly create and deploy campaign (without HTML
ski l l s ), reuse of templates, progress ive profi le updates ,
automated lead scoring?
Implementation Is i t SaaS or on-premise? If on-premise, what i s the
ins ta l lation and maintenance required? If Saas , what i s
the downtown, hosting location/configuration?
TCO Software, contract length, optional module costs , IT costs
(overhead), tra ining costs , effect on headcount?
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Organization is Also Critical
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Corporate Marketing Functions
Chief Marketing
Officer
Marketing
Strategy Org
Revenue
Performance
Management
Center of
Excellence
Marketing
Research
PR/ Social
Media
Advertising
Brand
Management
Online
Marketing and
Corporate
Website
Channel
Marketing
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What is an RPM Center?
� A Revenue Performance Management Center is a central
or regional hub of shared marketing services,
infrastructure and process that enables organizations to
bring programs to market by leveraging key corporate
assets and best practices. It is a hybrid structure between
centralization and decentralization, leaning toward a
pragmatic “center of excellence” approach.
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RPM Center – Two Core Functions
Demand Generation
Center of Excellence resource
featuring advisory, execution
and technical resources that
create demand directly and
advise other demand creation
teams (e.g., BU’s).
Captures and disseminates
marketing KPI’s and other
marketing information to the
Enterprise and manages
technologies and processes
that help generate this
information.
Marketing Operations
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RPM Center
Campaign Services
Program
Management
Best Practices
Director Marketing Operations
Data Management
Technology
Process
Analytics and Strategy
QA
VP Revenue Marketing
Creative Services
Lead Qualification Team
Content Strategy
Channel
Programs
Director
Demand Generation
Global Ops Liaison
CMO
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Marketing Operations
Relatively new organization but a “must have” for today’s
marketing organization
� Marketing Technology Officer (MTO) at the helm?
� Part of RPM CoE
� “Owns” customer facing technologies
� Leads marketing technology strategy, develops marketing technology
and evangelizes innovation throughout marketing department
� Reports to CMO but ensures compliance with IT standards and
processes in concert with CIO
• Can be difficult conversation but CIOs recognize pace of change/agility
required in marketing organizations is different
• CMOs and MTOs look out for channel and customer facing technologies;
CIOs manage infrastructure and back-end systems
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Picture This…
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SageToday.com/50
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Bob Smith
ABC Co., Inc.
Sage Product
ABC Co., Inc.
ABC Co., Inc.
Sage Product
Sage Product
Bob Smith
Sage Sales Rep
Territory: Northwest
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Convert the Sale
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Preparing a Business Case
� Many approaches to cost-justifying the expenditure
� Revenue generation
• Acquisition marketing/revenue generation
• Customer campaigns
– Win-back campaigns
– Upsell/cross-sell campaigns
– Higher customer retention
� Cost savings through increased efficiencies
• Less expenditure on outside resources for creative, copy writing,
campaign development
• Potential headcount savings due to efficiencies gained through
marketing automation
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FY12 Pipeline Improvement Overview % Improvement Target Pipeline
Raw Leads - # 10,000 10,000 Raw Leads
% of leads with accurate contact data 80% Improve accuracy of contact data by 5% 5% 84%
Suspects - # 8,000 8,400 Suspects
Conversion rate to MQL 15% Improve MQL conversion rate by 20% 20% 18%
Marketing Qualified Leads (MQLs) - # 1,200 1,512 MQLs
Sales acceptance lead rate 40% Improve SAL rate by 15% 15% 46%
Sales Accepted Leads (SALs) - # 480 696 SALs
Close rate 25% Improve close rate by 1% 1% 25.30%
New Customers - # 120 176 New Customers
Average Sales Price (ASP) 40,000$ 40,000$
Marketing Driven Revenue 4,800,000 7,038,662$
Increase in New Customer Revenue 2,238,662$
Business Case Example – New Customer Acquisition
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• 600% growth in qualified leads
• Delivered $15 Million of incremental revenue in 6 months
• 1,250% in marketing ROI
• Lead quality increased over 250%
• Doubled lead-to-opportunity conversion rate
• Delivered $50M in incremental revenue in 6 months
• Increased trial account subscribership over 25%
• Landing page conversion rate increased over 4x
• 15% reduction in cold calling, lower cost per opportunity
• Increased lead conversion rate more than 2x
• Delivered $16M in incremental revenue in 6 months
• 100% ROI in 3 months
• Increased revenue over 200%
• Shortened sales cycles by over 50%
• Significantly increased yield per customer
Telecom
Company
Realizing the benefits
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Why Should You Do This?
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Why Move to RPM and the Foundational Technologies
� Integrated marketing automation is a must for today’s marketers
� Only way to measure true ROI
• More likely to report performance metrics
• More likely to report financial metrics
• More likely to report forecast metrics
� Moves marketing from a cost center to a revenue generating center
� Gets CMO a “seat at the table”
� Sales/marketing thought of as a revenue team
� Today’s CMOs and other heads of marketing will be left behind if they
don’t make this happen—it is no longer the wave of the future
How will you answer your CEO’s question the next time he/she asks what
marketing has done to contribute to the business?
� It’s not about leads, impressions, activities anymore; CMOs have a
fiduciary responsibility to the business
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Keys to Success
� Technology – the right MA platform tightly coupled with the right CRM
� Right talent/skills to make RPM work
� Don’t underestimate criticality of technical skills in Marketing Operations
� Executive sponsorship of RPM Model
� This is not a marketing initiative; it is a new way of doing business and
requires total company commitment to succeed
� Sales and Marketing alignment to ensure a total view of the pipeline
� Buy-in to RPM and willingness to implement standard practices and
KPI’s
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Q & A
770-331-4443
Twitter: @revenuemarketer
LinkIn with me!
604-207-3568
Twitter: @
11/14/2012 The Pedowitz Group ©201241
Next Class
November 28
o Strategy & People: Create a Revenue Marketing Center of Excellence & Key Roles Required for Revenue Marketing
Faculty:
Liz McClellan
PGi