The Missing LinkMapping Pardot to your business to drive maximum revenue
Erica RyanMicky Long
Audience Poll
How many have used Pardot for less than 3 months?
How many longer than a year?
How many have used Pardot for between 3-6 months?
How many have used Pardot for 6 months to a year?
So what’s the Missing Link?
Pardot is great, but…
Aberdeen Lead Lifecycle Management Study
Survey Details
Over 200 organizations polled
Wide range of sizes from enterprise to SMB
Titles included Sales, Marketing and Senior Mgt
Industry groups includes technology, manufacturing finance/banking and others
Aberdeen Comparison Laggard vs. Best in Class
Bid to win ratio
Increase in new leads
Revenue Increase
0% 10% 20% 30% 40%
Laggards
BIC
Lead Management Improvement Strategies
Increase # of Sales-ready leads
Develop formal nurture program
Better Segment/Target
30% 40% 50% 60% 70%
Laggards
BIC
BIC Capabilities
5 = Current capability
1 = Capability does not exist
Track online behavior on individual basis
Determine when leads are sales-ready
Prioritize leads passed to Sales
Best In Class
All Others
Align Marketing content to buy cycle
Deliver Marketing content at buy cycle stages
Score leads based on behavior
1 2 3 4 5
4.0
3.8
3.7
3.6
3.4
3.0
3.1
2.9
3.3
2.8
2.9
2.5
Marketing maturity index
Stage 1 - Basic “Batch and Blast” Marketing
Companies at this stage typically do not have any type of formal lead nurturing program in place. Leads are passed between Marketing and Sales on an ad hoc basis without significant tracking, automation or measurement.
Lead defined as = “any response”.
All leads typically passed to Sales
No passback from Sales on challenging leads
Campaigns run ad hoc or regular but w/o segmentation
Little or no measurement beyond “Dollars expended vs. Revenue Achieved”
Little or no prospect data captured, maintained or available to Sales
No automated tools in place
Stage 2 - Segmentation Marketing
Companies at this stage have usually identified the need to do some type of lead nurturing or management and have taken the first steps to define a process for managing leads. Implementation and refinement is typically sporadic
Lead definition = Marketing Qualified Lead
Prospect segmentation (grading) criteria developed; implementation not routine
Prospect scoring model developed; not in place
Some type of tool in place to drive automated multi-touch campaigns
Marketing campaigns still based on “Batch and Blast” approach
Marketing/Sales closed –loop process defined; enforcement not standard
Activity measurement around email performance, conversion
How Pardot helps
Builds lead priorities based on prospect activity and profile
Enables prospect segmentation within Marketing and Sales
Begins closed-loop interaction
Lead scoring/grading - based on prospect behavior and profile
Stage 3 - Automated Marketing
Companies at this stage have recognized the need for some type of automated system to help manage the business process around lead management and nurturing. These companies have implemented more detailed methods of identifying prospect profiles and behavior.
Lead Definition = Marketing Qualified Lead
Prospect grading and scoring models in use
Marketing Automation tool in place and integrated with CRM/SFA
Sales handoff threshold in place and followed
Surveys used to capture deep prospect information beyond basic forms
Marketing campaigns designed to nurture prospects
Multi-channel campaigns targeted to prospect activity and profile
Regular performance metrics re: campaign effectiveness developed
How Pardot helps
Builds lead priorities based on prospect activity and profile
Enables prospect segmentation within Marketing and Sales
Begins closed-loop interaction
Drip campaigns - automated follow-up with intelligence
Stage 4 - World-class Automated Lead Nurturing
Companies at the Best-in-Class level have implemented a completely automated lead nurturing workflow, driven by strong business process, endorsed by marketing, sales and executive management and regularly updated to stay ahead of prospect behavior.
Grading and scoring models approved by Marketing and Sales and in place
Lead definition = Sales Qualified Lead
Closed loop process in place. Non-pipeline leads passed back to Marketing
Marketing messages targeted by pain point, prospect function and Buy Cycle
Regular prospect information capture by activity, survey and form completion
Marketing campaigns follow multi-channel, activity-based process – right message to right prospect at right time
Prospect email preference center in place. Opt in vs. Opt out
Detailed KPIs on Marketing activities reported to executive management regularly
Automation tool and process undergoes regular modification for continuous improvement
How Pardot helps
Provides detailed activity as well as revenue and opp. tracking
Key focus area for expanded capability within Pardot
Reporting- based on prospect behavior and profile
Lessons from the real world
A.D.A.M.
Background
A.D.A.M. consists of 3 very distinct business units – Health Solutions, Benefits Solutions (Benergy), and Education Solutions, all with completely different audiences, products and clients.
Up to February 2010, all lead generation was handled by the sales organization. Marketing supported lead gen with campaigns, but all leads were directed to lead generation specialists. “Nurturing” was done by the lead generation specialist as one off emails, or their own salesforce
campaigns.
A.D.A.M. Challenge
In February 2010, the positions for inside lead generation specialists for Benefits and Health Solutions were made redundant.
Where did lead gen go overnight?
A.D.A.M. Challenge
MARKETING!
A.D.A.M. Challenge
Marketing was now responsible for:
Acquiring new leads for sales team
Ensuring quality of leads
Nurturing leads
Passing leads to sales team
Reporting on all leads, including:
• Pipeline
• Win/Loss
• Sales Closed
A.D.A.M. Challenge
Did I mention overnight?
A.D.A.M. Challenge
What did marketing do?
A.D.A.M. Solution
Called Derek at Pardot.
Background
Had been trying to convince management to implement a lead nurturing system for almost a year
Leads from our website were difficult to follow – went directly into salesforce and once in sales’ hands marketing had little control
Had to manually set up all forms for all marketing campaigns and for the website
Sales did not want marketing putting marketing leads in salesforce – wanted to keep them separate
We had very few marketing items we could use in emails and drip campaigns (only 4 case studies)
Implementation
Even More Challenges at Implementation
Education business unit not using Pardot
Health Solutions business unit implemented with no internal support from IT and little to no support from sales
Benefits Solutions business unit marketing director not even in place yet when implementation began
Health Solutions sales team only wanted qualified leads – people ready to buy
Benefits Solutions sales team wanted ALL leads
Implementation
Pardot was great! Within first 3 months we had set up:
Sales inquiry form on website
Multiple Case study forms Multiple
Demo forms
Custom email communications with forms and landing pages
Conference invitation
emails and landing pages
Implementation
“It was so easy we went NUTS setting up campaigns, forms, landing pages, emails…”“It was so easy we went NUTS setting up
campaigns, forms, landing pages, emails…”
Metrics
(May not have thought that through completely at the beginning…)
CEO – Now report on all of it!
Metrics
Pardot Metrics
Metrics
What defines a “good” lead?
Hard lead?
Nurturing-worthy lead?
Scoring?
Grading?
Soft lead?
Metrics - What Marketing Measures
Prospects Assigned Leads Soft leads Hard leads
Email Campaigns - Soft leads = anyone who opened the email; Hard leads = someone who contacted us or viewed a document
Campaign 1
Campaign 2
Campaign 3
Campaign 4
Campaign 5
Web Forms - Prospects = people who viewed landing page, Soft leads = people who filled out the form, Hard/Assigned Leads = leads sent to sales
Sales inquiry form
Online Demo
Case Study 1
Case Study 2
Case Study 3
Case Study 4
Conferences - Assigned/Soft leads = people who clicked through to adam.com for more info or Assigned/Soft leads = people who came to booth, Hard leads = good leads
Conference 1 Pre-Show Email
Conference 1 Booth Leads
Conference 2 Booth Leads
Conference 3 Booth Leads
TOTAL
Q2 Marketing Campaign Metrics
Metrics - Issues Found
Sales not always setting opportunity even after pricing provided
Sales not always setting opportunity amount even though opportunity has been created
Marketing can assume at least an amount of $10K per deal, but not true pipeline
Just started including lead source on all online forms so we can report from salesforce in addition to Pardot
Just started grading prospects based on activities in Q3, will start reporting for Q3
Sales cycle can be anywhere from a few months to SEVERAL YEARS
Metrics - What the CMO and CEO Want
Assumed Pipeline
Opportunities Created by
SalesOpp Amt Closed Amount
Oppty conversion
rate# Closed Won
Email Campaigns - Soft leads = anyone who opened the email; Hard leads = someone who contacted us or viewed a document
Campaign 1
Campaign 2
Campaign 3
Campaign 4
Campaign 5
Web Forms - Prospects = people who viewed landing page, Soft leads = people who filled out the form, Hard/Assigned Leads = leads sent to sales
Sales inquiry form
Online Demo
Case Study 1
Case Study 2
Case Study 3
Case Study 4
Conferences - Assigned/Soft leads = people who clicked through to adam.com for more info or Assigned/Soft leads = people who came to booth, Hard leads = good leads
Conference 1 Pre-Show Email
Conference 1 Booth Leads
Conference 2 Booth Leads
Conference 3 Booth Leads
TOTAL
Moving Forward
Still a work in progress
Grading Lead SourceDrip Campaign
Testing
Implemented for Q3
Planned for Q4
Work more closely with Sales Team to develop
lead scoring and prioritization
First true drip campaigns to be
implemented
Benefits Pardot forms on website
Last Words
Metrics – The who and the what
CMO Marketing Director Campaign/Activity Mgr.
ROMS Quarterly Return on Spend
Return on Campaign Email click-throughs
Lifetime Total Value Return by Channel Web visits
Net Present Value Return by Progam Page Views
Monthly # of Leads toCustomers
Form Submits
#Marketing Qualified Leads Demos Conducted
MQL-SQL Conversions Webinar registrations
SQL-Close Webinar attendance
Overall Revenue Attainment from MQLs
Roadmap to SuccessEv
alua
te w
here
you
are
(no
chea
ting)
Buy your Sales
(or Marketin
g)
team a beer Love thy customer
(or at least accept that they’ve won)
Elephant-eating is a marathon, not a sprint
When you get
it right, d
o it
over again
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