Webinar: The Urgency of Marketing Automation

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Sirius Decisions, Senior Director of Research Jonathan Block

Marketing Automation technologies,including lead nurturing, lead scoring and lead management are critical today more than ever.

How can these technologies improve your business?

In The Urgency of Marketing Automation, industry analyst Jonathan Block will provide insight into how your peers are adopting marketing automation and the business impact they are seeing.

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  • Webinar: The Urgency of Marketing Automation

    1. 1. Manticore Technology Confidential – Copyright 2009. All rights reserved. The Urgency of Marketing Automation Presented by Manticore Technology and SiriusDecisions April 7, 2009
    2. 2. Today’s Webinar <ul><li>Agenda </li></ul><ul><li>The Urgency of Marketing Automation Jonathan Block | Vice President and Service Director - SiriusDecisions </li></ul><ul><li>Leveraging Marketing Automation Christopher Doran | Vice President, Marketing - Manticore Technology </li></ul><ul><li>Q&A </li></ul>
    3. 3. The Urgency of Marketing Automation: Critical Processes
    4. 4. Field Marketing 1.0…Our Foundation Systematic Repeatable Predictable Source: SiriusDecisions Lead Taxonomy Campaign Execution Target Marketing Handoffs Service-Level Agreements Lead Flow Process Technology Service Partners Metrics SiriusPerspective: Field marketing 1.0 introduced the concepts of discipline, process and sales/marketing collaboration.
    5. 5. Field Marketing 2.0 <ul><li>Better </li></ul><ul><ul><li>The evolution of current best practices to new standards </li></ul></ul><ul><ul><li>Evolving technology </li></ul></ul><ul><li>New </li></ul><ul><ul><li>New practices that can now be executed effectively because of a 2.0 scenario </li></ul></ul>Adaptable, situational application of 1.0 principles and technology coupled with next-generation best practices that better facilitate and support buying and sales cycles from cold to close Source: SiriusDecisions
    6. 6. Core Components: From Field Marketing 1.0 to 2.0 <ul><li>Marketing -led, sales cooperative </li></ul>One-size target, campaign, qualify Loose confederation of platforms and tools Ad hoc, often not integrated into the mix Marketing led, mainly program-focused Distinct marketing and sales ownership Adaptable target, campaign, qualify Platform-based, best-in-class tool augmented Surgically chosen, applied and woven into the system Service-level agreement based, funnel-wide Ownership Process Services Metrics Technology Component 1.0 2.0 Source: SiriusDecisions
    7. 7. Demand Creation Waterfall SiriusPerspective: The most effective b-to-b demand creators look at a shared demand waterfall in the context of automating processes. Inquiries A raw response, or hand-raiser to an outbound marketing program; relatively little is known about the prospect at this point. Marketing Qualified Leads (MQLs) A lead – by way of definition and service-level agreement – that is deemed “ready” for a receiving function to work. Sales Accepted Leads A lead that has been formally accepted by the receiving function; when this occurs, the receiving function is compelled to work the lead in a give time frame. Sales Qualified Leads (SQLs) A lead that has evolved into an opportunity, one that is deemed “pipeline quality” by the organization. Closed/Won Business An opportunity that has come to fruition.
    8. 8. MAP Goal: Avoid and Reclaim Wasted Leads Inquiries Marketing Qualified Leads (MQLs) Sales Accepted Leads Sales Qualified Leads (SQLs) Closed/Won Business Source: SiriusDecisions SiriusPerspective: The waterfall helps to determine which processes are worth your time to develop, refine and automate. Qualify 1 The process required to bring an inquiry to a “certified” level, including attributes/scoring levels Handoff 2 Transition of a lead from one function to another; service-level agreement based Nurture 3 Three “flavors,” depending on the funnel stage Recycle 4 For leads that have been disqualified at any funnel stage
    9. 9. MAP Goal: Help Accelerate Conversion Rates Source: SiriusDecisions SiriusPerspective: Marketing automation is critical to achieving best-in-class conversion rates. Waterfall Conversion Rates Inquiries 3.9% Marketing Qualified Leads (MQLs) Sales Accepted Leads Sales Qualified Leads (SQLs) Closed/Won Business 5.8% 9.7% Average Strong Process Best-in-Class 58.3% 65.6% 74.5% 49.1% 56.4% 60.5% 23.1% 26.9% 30.7%
    10. 10. Demographics BANT Activity <ul><li>Do you know the demographic profile of your buyers? </li></ul><ul><li>Looks can be deceiving </li></ul><ul><li>What happens when you enter new markets? </li></ul><ul><li>“ Habituals” </li></ul><ul><li>Most organizations do not “evolve” their activity </li></ul><ul><li>Takes time and technology to understand the desired arc of activity </li></ul><ul><li>Buyers are liars </li></ul><ul><li>Most of us know what to say to get what we want </li></ul><ul><li>Depending on demand type, could be less relevant (realistic) </li></ul>Process Deep Dive: Lead Scoring Source: SiriusDecisions SiriusPerspective: Used alone, each category has significant weakness; used together they are powerful.
    11. 11. Process Deep Dive: The Role of Tactics in Scoring <ul><li>It’s hard to build activity into a scoring model when you are only interacting once </li></ul><ul><li>The use of a portfolio approach opens the doors to multi-dimensional scoring </li></ul><ul><li>The use of BANT combined with a “one and done” approach is particularly troublesome </li></ul>Key Observations SiriusPerspective: If activity is so important, why are so many organizations ignoring it in their scoring schematics? % % Source: SiriusDecisions
    12. 12. The Need for Scoring Automation <ul><li>For scoring to work, it must be: </li></ul><ul><ul><li>Systematized </li></ul></ul><ul><ul><li>Automated </li></ul></ul><ul><ul><li>Conducted off of a unified prospect database (or prospect databases that are linked together and regularly reconciled) </li></ul></ul><ul><li>The case for wide-scale, technologically enabled scoring can be justified using non-technological means </li></ul><ul><ul><li>Campaign tests </li></ul></ul><ul><ul><li>List cuts </li></ul></ul><ul><ul><li>New market penetration/testing </li></ul></ul>Source: SiriusDecisions SiriusPerspective: Technology is necessary to score across the full range of prospect interactions.
    13. 13. Automation Requirements <ul><li>Solves nothing with the proper inputs and outputs </li></ul><ul><ul><li>Agreed-upon baseline scoring system </li></ul></ul><ul><ul><li>Plan and participants for a scoring review team </li></ul></ul><ul><ul><li>Thresholds for lead transfer </li></ul></ul><ul><ul><li>Action items/service-level agreements </li></ul></ul><ul><ul><li>System to recycle “rejected” leads </li></ul></ul><ul><li>Attributes and weights based off of human belief; without significant data, they will be imperfect </li></ul><ul><li>Many organizations are not set up to run “portfolios” of campaigns </li></ul><ul><ul><li>Organized, coordinate online and offline efforts </li></ul></ul><ul><li>Not yet predictive; this is the “holy grail” of scoring </li></ul>Source: SiriusDecisions
    14. 14. A Marketing Technology Ecosystem Source: SiriusDecisions CRM Reputation Tools Marketing Resource Management Business Intelligence Channel Management Marketing Automation Platform
    15. 15. Marketing Automation Budgets Are Increasing Source: SiriusDecisions benchmarks -12% <ul><li>Local events are decreasing in favor of global programs for leverage. </li></ul>-17% <ul><li>Broad-based branding programs are decreasing in favor of targeted product messaging. </li></ul>- 6% <ul><li>Decrease reflects changes in messaging due to the economy and tactical message needs. </li></ul>+ 4% <ul><li>Field marketing technology, resources and program investments will rise. </li></ul>+ 6% <ul><li>New industry messaging and tactical product level focus. </li></ul>Event Marketing Advertising Marcom Field Marketing Solution Marketing SiriusPerspective: The technological “heart” of demand creation – the marketing automation platform – is no longer a luxury.
    16. 16. SiriusDecisions Demand Creation Technology Stack Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing Execution Management Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis
    17. 17. Marketing Database Layer <ul><li>Flag redundant/incorrect data </li></ul><ul><li>Detect data patterns/similarities </li></ul><ul><li>Segment/profile </li></ul><ul><li>Dynamically generate clean, validated lists </li></ul>Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing Execution Management Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis
    18. 18. Campaign Management Layer <ul><li>Develop, execute and track Web, email and direct mail campaigns </li></ul><ul><li>Enable keyword search, search optimization </li></ul><ul><li>Analyze/report on Web site visits, navigation </li></ul><ul><li>Track Web site conversions </li></ul><ul><li>Offer reporting/dashboard capabilities </li></ul>Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing Execution Management Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis
    19. 19. Lead Management Layer <ul><li>Support multistep “portfolios” of campaigns </li></ul><ul><li>Support flexible, rules-driven lead scoring </li></ul><ul><li>Route scored leads to a variety of sources </li></ul><ul><li>Offer lead pooling </li></ul><ul><li>Offer threshold-based alerts </li></ul>Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing Execution Management Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis
    20. 20. SiriusDecisions Demand Creation Technology Stack <ul><li>Uncover and report on attributes and response patterns of high-quality opportunities </li></ul><ul><li>Identify “arcs of activity” that indicate high purchase intent </li></ul><ul><li>Capture and nurture leads that are rejected by sales or fall out of its funnel </li></ul><ul><li>Enable marketing participation in cross-selling, upselling and customer loyalty </li></ul><ul><li>Support the needs of a decentralized marketing organization </li></ul>Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing Execution Management Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis
    21. 21. State of Marketing Automation: Technology : Current state . Source: SiriusDecisions Basic/cost-of-entry functionality Next-generation functionality Marketing Database <ul><li>Campaign Management </li></ul><ul><li>Email capabilities are not enough </li></ul><ul><li>Often enabled through partnership </li></ul><ul><li>Web analytics is a key differentiator </li></ul><ul><li>Lead Management </li></ul><ul><li>Most vendors can’t aggregate key lead scoring components </li></ul><ul><li>The ability to score multiple offerings per prospect not yet a reality </li></ul><ul><li>Adaptive Marketing </li></ul><ul><li>Vision of Field Marketing 3.0 </li></ul><ul><li>Robust lead nurturing is critical for every organization </li></ul><ul><li>Many vendors can’t support cross/up-sell campaigns </li></ul><ul><li>The point of integration with CRM </li></ul><ul><li>List pulls a core requirement </li></ul><ul><li>Advanced solutions include data quality tools </li></ul>SiriusPerspective: The focus for organizations has moved toward lead management in the last 24 months.
    22. 22. Manticore Technology Confidential – Copyright 2009. All rights reserved. Leveraging Marketing Automation Christopher Doran Vice President, Marketing – Manticore Technology
    23. 23. Key Findings Investments in Field Marketing and Solution Marketing are up 4% & 6%, respectively. The numbers clearly illustrate why: Source: SiriusDecisions 10k Lead Model 420% increase in closed business Companies that implement marketing automation are 1) best positioned to weather the economic storm & 2) capitalize as economy rebounds.   Average Strong Best in Class Inquiries 10,000 3.9% 10,000 5.8% 10,000 9.7% MQL 390 58.3% 580 65.6% 970 74.5% Sales Accept 227 49.1% 380 56.4% 723 60.5% SQL 112 23.1% 215 26.9% 437 30.7% Closed/Won 26   58   134  
    24. 24. Marketing Automation <ul><li>Two key components of a marketing automation enable the improvement on conversion rates: </li></ul><ul><li>1 . Lead Scoring – Enables: </li></ul><ul><ul><ul><li>Qualification through automation </li></ul></ul></ul><ul><ul><ul><li>“ Handoff” between groups </li></ul></ul></ul><ul><li>2. Lead Nurturing – Enables: </li></ul><ul><ul><ul><li>Automation to move lead from stage to stage </li></ul></ul></ul><ul><ul><ul><li>Recycling of leakage between stages </li></ul></ul></ul>
    25. 25. Lead Scoring <ul><li>Lead Scoring within Manticore provides the tools to ensure the hand-off between stages and identify “sales-ready” leads </li></ul><ul><li>Lead Scoring models contain two components: </li></ul>Similarity of Lead to Target Market, BANT + Behavior lead has exhibited to indicate likelihood of purchase “ Fit” “ Interest”
    26. 26. “ Fit” & “Interest” <ul><li>Fit can include any fields in the lead management aspect of the marketing automation platform – OR – data from your CRM </li></ul><ul><ul><li>REMEMBER – Lead scores should be based on marketing and/or sales data </li></ul></ul><ul><ul><li>Tight integration with CRM is critical </li></ul></ul><ul><li>Interest is developed by actions that define a qualified lead as defined by your organization </li></ul>
    27. 27. Best-In-Class: Multi-Model Lead Scoring <ul><li>One lead scoring model cannot support more than one product </li></ul><ul><li>Solution: Build Lead Scoring Models for various products in your portfolio </li></ul><ul><li>Match inbound leads with their “Fit” with each target market and their “Interest” in each individual product </li></ul>Six different lead scoring models match leads with target markets Create model to match customers with cross-sell/up-sell opportunities
    28. 28. Lead Nurturing Lead Nurturing goes beyond campaigns to engage leads in a continuous dialog, thereby moving them through the pipeline Campaign or Point Solution Approach Register? Inquiry Send To Sales End End Lead Nurturing Inquiry: Yes No MQL? Score MQL - Send to sales handoff Sales Accept? Send to Inquiry Nurture Send to MQL Nurture Sales Engage Campaign generates Inquiry Yes No Yes No Send Email
    29. 29. Configuring a Lead Nurturing Campaign Use on-going flow of content to engage in dialog Periodic lead score checks to remove from nurture as necessary Use automation to move to next stage of funnel
    30. 30. Why Manticore Technology <ul><li>Proven Leader Founded in 2001, profitable, privately funded </li></ul><ul><li>Easy to Install and Configure Delivers true value of SAAS with one-hour implementation, incredibly intuitive interface </li></ul><ul><li>Affordable Pricing starts at $2k/month </li></ul><ul><li>Worldwide Ecosystem Partners can offer support of configuration, optimization, and lead management. </li></ul>
    31. 31. Next Steps <ul><li>Visit manticoretechnology.com </li></ul><ul><ul><li>FREE 30-DAY Trial </li></ul></ul><ul><ul><li>VIEW Online Demo </li></ul></ul><ul><ul><li>Download: </li></ul></ul><ul><ul><ul><li>23 Questions that Demand Generation Companies May NOT Want you to Ask </li></ul></ul></ul><ul><ul><ul><li>Analyst Reports </li></ul></ul></ul><ul><ul><ul><li>Whitepapers </li></ul></ul></ul><ul><ul><ul><li>Case Studies </li></ul></ul></ul><ul><li>[email_address] </li></ul>
    32. 32. Q&A
    33. 33. Contact Information <ul><li>Christopher Doran </li></ul><ul><li>Vice President, Marketing - Manticore Technology </li></ul><ul><li>[email_address] </li></ul><ul><li>www.manticoretechnology.com </li></ul><ul><li>Jonathon Block </li></ul><ul><li>Vice President and Service Director - SiriusDecisions </li></ul><ul><li>[email_address] </li></ul><ul><li>www.siriusdecisions.com </li></ul>

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