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Marketing Automation: The Power and the Glory

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  • 1. MARKETING AUTOMATION: The Power and the Glory Wednesday, June 12 Sponsored by:
  • 2. Our Sponsors
  • 3. Christopher Hosford East Cost Bureau Chief BtoB & BtoBonline.com Moderator
  • 4. Submit Questions Housekeeping
  • 5. Download Slides Housekeeping
  • 6. TWEET #B2BWC
  • 7. MARKETING AUTOMATION THE POWER OF
  • 8. Panel Jon Russo Marketing technology consultant B2B Fusion Sal Abramo Director-marketing operations Thomson Reuters John DiStefano Research Director BtoB Magazine
  • 9. John DiStefano Research Director BtoB Magazine Panelist
  • 10. 10 Marketing Automation Report DRAFT WEBINAR SLIDES June 2013
  • 11. BtoB magazine 11 Introduction/Methodology •From the period of April 8 to April 25 the true population of B2B marketing professionals in the US were researched via a 33 question online survey. •A representative sample of the BtoB marketers audience was invited to participate in the survey via email. •A sample of 204 completes among marketers who are using marketing automation was achieved. •Confidence Interval: 95% •Margin of Error: +/- 7% Methods and procedures adhere to the standards and ethics established by the Market Research Association (MRA-net.org). Individual participant or participant company names are not disclosed. Results are reported in aggregate only. Fair Use Policy All rights reserved. Crain Communications BtoB magazine. BtoB magazine grants the right to use when attributed to Crain Communications/BtoB magazine. The opinions expressed herein are subject to change without notice.
  • 12. BtoB magazine 12 Marketing Automation
  • 13. BtoB magazine 13 Highest Level of Involvement in Marketing Automation 13 N=452 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 14. BtoB magazine 14 Marketing Automation Adoption 14 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 15. BtoB magazine 15 Years Using Marketing Automation 15 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 16. BtoB magazine 16 Demand Gen Aligned with Buyers Purchase Path 16 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 17. BtoB magazine 17 Most Important Marketing Channels 17 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 18. BtoB magazine 18 Satisfaction with Level of Contacts 18 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 19. BtoB magazine 19 Satisfaction with Current Lead Management 19 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 20. BtoB magazine 20 Need for Marketing Automation Functions 20 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 21. BtoB magazine 21 Funding Source for Marketing Automation 21 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 22. BtoB magazine 22 Time to Implement Marketing Automation 22 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 23. BtoB magazine 23 ROI Metric 23 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 24. BtoB magazine 24 Time to Positive ROI 24 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 25. BtoB magazine 25 Marketing Automation Value Proposition 25 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 26. BtoB magazine 26 Preferred Marketing Automation Features 26 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 27. BtoB magazine 27 Marketing Automation Vendor Value Proposition 27 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 28. BtoB magazine 28 2014 Marketing Automation Adoption 28 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 29. BtoB magazine 29 2014 Marketing Automation Adoption 29 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 30. BtoB magazine 30 Obstacles 30 N=204 Source: BtoB magazine: 2013 Marketing Automation, May 2013
  • 31. Sal Abramo Director-marketing operations Thomson Reuters Panelist
  • 32. SM Sal Abramo Director of Marketing Operations Thomson Reuters, Inc. Profile: www.linkedin.com/in/salabramo Marketing Automation – View From The Front-Line
  • 33. CMO Dir of Marketing Operations Global Demand Generation Center Of Excellence Business Units Operations / Execution •Translate strategic objectives to measurable demand gen categories, definitions and execution •Driving demand gen top-down goals recommendations •Planning tools, and waterfall objectives for efficiency gains •Definitions and global category alignment •Driving, lead scoring, SLA development and process definition •Best practice, training, documentation and coaching •Reporting execution (real-time, weekly, quarterly, daily) one version of the truth available to all stakeholders 24/7 •Actions, recommendations on variances to goal along with plan development and execution •Lead /play discussion and evaluation, scoring, delivery to sales and SLA based action plans and results analysis •Play and campaign phasing and calendaring •Marketing Automation Platform management and program execution including regional support Central Marketing, Content & Messaging Strategy Regional Marketing
  • 34. The Challenge Of The New B-to-B Buyer
  • 35. Buyers are more informed Buyers need more (and earlier) ROI Buyers are less likely to engage earlier •  Access to Content •  Peer Network •  Access to Data •  Reason to Change •  Peer Examples •  Executive Support •  Self Service •  Network Introduction •  Events Not Working The sales cycle has changed The biggest challenge is getting the buyers attention
  • 36. Typical Buying Cycle Recent research indicates that typically the first 1/3 of the buying cycle - The Education Phase does not involve interacting with a sales rep
  • 37. Event Thought Leadership Marketing Leads Industry Content Email Intro Event Invite Demo Value Demonstration SME Access Competitive Review Event Invite Sales Intro Exec Value Demonstration Competitive Review SME Access Exec Briefing Reference Invite Marketing has an opportunity to align with sales and accelerate The Buyers Journey
  • 38. Sales and Marketing Alignment
  • 39. Mission An mutually agreed to mission understood by sales and marketing This is achieved via • Clear roles • Common definitions • Assigned and understood partnerships • Agreement and commitment to a plan • Shared success benchmarks • Performance objectives • SLA’s in place
  • 40. Communications Written and verbal Communications with agreed upon frequency that supports and maintains an open dialog at all levels This is achieved via • Business partnership • Cadence calls • Frequent day to day interaction • Plans, activities, schedules, campaign announcements • Shared dashboards & KPI’s • Debriefing & celebrating success
  • 41. Process Development, agreement, communication and commitment to Processes is essential to achieve business goals This is achieved via: • Planning & approval processes • Operational processes – Lead scoring & qualification process – Lead routing process – Lead action and SLA based processes • Customer centric sales processes • Reporting processes – Commitment to keep data current & updated – Consistent dashboard metrics – Closed loop reporting
  • 42. Tools Seek and deploy tools that demonstrate results, remove ambiguity, facilitate the sharing of information, and enable teams to replicate success • CRM tool – Leads, pipeline, revenue, opportunity management, telemarketing, measurement & reporting • Marketing Automation – Campaign management, lead scoring, tracks program results • BI & Visualization tools – Model and strategize campaign execution, advanced list management, visualize integrated marketing results • ERP and Web-Based tools – Manage and track orders and customer activity, execute and leverage web and social media interactions
  • 43. Sales & Marketing Alignment Dimensions • Mutual agreement on: – Goals and success measures – Lead scoring, SLA’s, action process… – Targeted segments, sub-segments, accounts – Campaign and selling plays and themes – Budget priorities by region • Jointly shape strategic account planning • Foster and strive for an environment of….Mutual Respect and corporation
  • 44. Measuring Lead Quality Key • Lead results in closed business! • Acceptance/rejection rate of leads • Lead is advanced thru demand funnel and contributes to active company pipeline – As documented in sales cycle stage reports – Lead velocity reporting – speed from inquiry to close • Lead to opportunity conversion – Target is 25%- 30% • Leads are BANT qualified • Regular qualitative feedback from sales team
  • 45. Align Around the Funnel A great place to start! •As leads are entered in the system at the Inquiry or Marketing Qualification stage, it is processed by the Inside Sales team •Inside Sales does initial touch qualification and determines if it is worth further sales qualification •Once a lead is assigned to Outside Sales for further follow up , contact it enters into the Sales Qualification stage •The Outside Sales rep can accept, reject, qualify or designate as an opportunity at this stage •Won business
  • 46. Lessons Learned • Sales and marketing alignment central to success – a shared understanding of the buying process is critical – establishment of SLA’s great first step • Marketing automation will not fix broken sales and marketing processes – stuck in batch and blast, hunch based, outbound only processes …..simply do not work • Highly targeted, valued content, personalized, right person, right time, right message is critical……always oriented to a clear call to action • A healthy, ever-growing and engaged database is core to success – focus on opt-in, white listed, targeted nurturing with all content sent of high-value • Customer and prospect engagement happens on many dimensions, face to face with outside sales, over the web, via social media, telemarketing, physical events…contacts are not just sitting around waiting for the next email • Always keep demand type front and center…new concept, new paradigm, focused at existing customers, established market...etc. Is the task fishing or farming? • Reduce waste by targeting as tightly as possible ….think personalized and tailored • Development of personas is key to segment and engage targeted audiences • Examine and align the sales process to The Buyers Journey – always seek better ways to engage with targets
  • 47. Coming together is a beginning. Keeping together is progress. Working together is success. -Henry Ford
  • 48. Jon Russo Marketing technology consultant B2B Fusion Panelist
  • 49. © 2013 B2B Fusion Group / Proprietary & Confidential DatePrepared for © 2013 B2B Fusion Group / Proprietary & Confidential June 2013 Jon Russo, Founder B2B Fusion Group Generate. Optimize. Close. MarketingAutomationKeySuccessIngredients
  • 50. © 2013 B2B Fusion Group / Proprietary & Confidential B2B Fusion: A Relentless focus on Marketing ROI 50 CMO - Marketing What is the ROI of our Marketing Investments? How do we produce more sales ready leads? CSO – Sales How can we maximize sales rep selling time? How can we minimize sales rep distractions via our CRM data processes? How do we track, trend, and improve our performance as a combined sales & marketing revenue machine?
  • 51. © 2013 B2B Fusion Group / Proprietary & Confidential • Data and its business impact: • High quality data correlates to 39% more closes & 66% more revenue • 30%+ of names, titles or phone numbers in a database go bad annually • 25% of a field sales rep’s selling TIME is wasted with incorrect data • How the selling environment has changed: • For every 650 leads, 1 deal is closed in 19 months • For $1B Firm, cost of Poor Sales Enablement is $14M and an additional $100M in lost revenue • 43% of B2B companies indicate that sales cycles have lengthened over the past three years The Situation 51 Gartner 2013, IDC 2013, Alinean 2013, Discover.org 2013, Data.com
  • 52. © 2013 B2B Fusion Group / Proprietary & Confidential DATA: Not Sexy, But Oxygen to success 52
  • 53. © 2013 B2B Fusion Group / Proprietary & Confidential Nurture Fuzzy Sales & Marketing Definitions = Fuzzy ROI Define your lead lifecycle within your systems 53 Inquiries MQL LGQL SQL Customers Prospect & Recycled (Marketing Qualified Lead) Sales Accepted Lead Sales Qualified Opportunity SALESMARKETING All Names Lead Gen Qual. Lead SAL LEAD GEN INSIDE SALES
  • 54. © 2013 B2B Fusion Group / Proprietary & Confidential 43% of Business IT investments not living to full potential Look for creative ways to accelerate progress by augmenting skillsets… 54 Description XYZ Today Annualized Estimated USD Cost People 33 Sales People $3,300,000 2 Inside Sales People 200,000 9 Marketing People 900,000 Programs Marketing Programs 900,000 Technology CRM: 132 Enterprise Licenses 198,000 Marketing Automation Enterprise License: 30k records 36,000 10 data source License: $.42/record 15,000 Annual Total $5,549,000 Gartner 2013
  • 55. © 2013 B2B Fusion Group / Proprietary & Confidential Marketing ROI – Harder than it looks 55
  • 56. © 2013 B2B Fusion Group / Proprietary & Confidential • Invest time in data integrity and processes • Clearly define ownership, stages, processes with sales & marketing • Make sure you do more than just e-blasts with your automation investment • Set the right Marketing ROI expectation of a journey, not an overnight destination Key TakeAways 56
  • 57. © 2013 B2B Fusion Group / Proprietary & Confidential Contact Information 57 Jon Russo www.b2bfusiongroup.com Jon.russo@B2BFusiongroup.com @b2bcmo
  • 58. © 2013 B2B Fusion Group / Proprietary & Confidential Our Customers 58 Referenced by Forrester Research: 2011, 2012, & 2013 Best B2B Best Practices, KPIs, and Buyers Journey Referenced in Forbes 2012
  • 59. Q&A
  • 60. We’re Sorry We are experiencing technical difficulties. Please stand by.