Data-driven Strategies for Demand Generation

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Learn how to focus and act on the metrics that matter

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Data-driven Strategies for Demand Generation

  1. 1. A Digital Solutions Firm delivering Marketing and Technology Solutions New York . Toronto . Phoenix . Los Angeles . London. Dubai . New Delhi Data-driven Strategies for Demand Generation
  2. 2. 11 Why Data?
  3. 3. 2 Information is not knowledge - Albert Einstein
  4. 4. 3 Weather Data – for Meteorologists
  5. 5. 4 Weather data for you and me
  6. 6. 5 Stock Markets
  7. 7. 6
  8. 8. 7
  9. 9. 88 The Data Tsunami
  10. 10. 9 Volume Amplifies and creates reach
  11. 11. 10 Velocity Rapid insights provide competitive advantage
  12. 12. 11 Variety Everyone’s an advertiser, broadcaster and data generator People with people People with Machines Machines with Machines
  13. 13. 12 The Connected Customer
  14. 14. 13 Channels most commonly used Eloqua and CMO.com B2B Benchmark Study Q4 2012
  15. 15. 14 37% do not track the revenue (closed business) generated by campaigns. 29% do not measure sourced- opportunities generated by campaigns. 20% do not measure the number of new sales leads generated by marketing campaigns. Measuring the basics Source: Pardot
  16. 16. 15 “The top challenge for marketers remains to better quantify and measure the value of marketing programs, in spite of improvements in accountability over previous years.” - CMO Council It’s still a challenge
  17. 17. 16 “Seventy-six percent (76%) of B2B marketing professionals agree or strongly agree that their ability to track marketing ROI gives marketing more respect.” Source: Forrester Research It’s about credibility
  18. 18. 17 Signal or Noise?
  19. 19. 18 Information or Insight ?
  20. 20. 19 Campaign Timing
  21. 21. 20
  22. 22. 21 Different Data. Different Databases.
  23. 23. 22
  24. 24. 2323 Key steps to high- performance demand generation
  25. 25. 24 1. Understand whatyou wantto achieve 2. Create asolid data foundation 3. Track critical touch-points inthe customer life-cycle 4. Integrate your systems 5. Test and learn 6. Visualize and communicate results Key steps to data-driven demand gen
  26. 26. 2525 Understand what you need to achieve
  27. 27. 26 1. Think like a CEO/CFO 2. Speak the language of business 3. Align marketing objectives with business objectives 4. Connect marketing activities and investments with business outcomes 5. Define What to measure When to measure How to measure Focus on what matters
  28. 28. 27 1. What business outcomes are you trying toimpact? 2. How much do you expect this program/activity to contribute? 3. How willyou know that thisprogram achieved the objective(s)? 4. What metrics wouldyou expect tosee? 5. When wouldyou know to change course? 6. What data willhelp you understand our current state? 7. What data and metrics willcommunicate the program’s effectiveness and value? Plan for Measurement
  29. 29. 28 1. Whatareyourspecificobjectivesformarketinginvestmentand howwillyou connectyourinvestmentstoincrementalrevenueand profit? 2. Whatimpactwoulda10%changeinyour marketingbudget(upor down)haveonyourprofitsandmarginsoverthenextyear?The nextthreeyears?Five? 3. Comparedtorelevantbenchmarks(historical,competitive, marketplace),howeffectiveareyou atconvertingmarketing investmentintorevenueandprofitgrowth? 4. Whichareappropriatetargetsforimprovingrevenueleverage (definedasdollarsofprofitoverdollarsofmarketingandsales spend)overthenextfewyears?Whichinitiativeswillgetyou there? 5. Whatquestionsdoyou stillneedtoanswerwithregardtoyour knowledgeofthereturnonmarketinginvestments?Whatareyou goingtodotoanswerthem? 5 questions to guide your measurement insight Source: MarketingNPV
  30. 30. 29 1. Revenue Net new deals 2. Profit Customer expansion 3. Market Share 4. Margin Marketing Effectiveness and Efficiency 5. Leads sourced or influenced by marketing MQLs and SALs Opportunities Primary Marketing Metrics aligned to Business Goals
  31. 31. 30 1. Registrations, Conversions or Inquiries 2. Lead Quality by Lead Score 3. Spend (Cost per Conversion, Cost per Qualified Lead) 4. Engagement CTRs Attention ( Time on site, Interact with Content) PR and Social Comments, Tweets, Likes, Shares 5. Etc. Secondary Marketing Program Metrics
  32. 32. 31 The Time Dimension Source: Lenskold Group
  33. 33. 32 1. Use Vanity metrics 2. Measure what is easy 3. Focus on quantity over quality 4. Focus on activity, not results 5. Efficiency instead of effectiveness Measurement Don’ts Source: Marketo - Definitive Guide to Marketing Metrics and Analytics
  34. 34. 33
  35. 35. 3434 Create a solid data foundation
  36. 36. 35 Reliable data leads to better decisions 1. Data Governance Data quality ■Is it current? ■Is it correct? ■Is it consistent? Completeness Compliance
  37. 37. 36 Treat data as a portfolio 1. Data Governance Data quality ■Is it current? ■Is it correct? ■Is it consistent? Completeness Compliance Source: Marketo
  38. 38. 37 1. Prospect/Customer Profile  ContactInformation  CompanyInformation  IdealCustomerattributes–revenuesize,industry 2. Prospect/Customer Engagement  WebsiteVisits  EmailOpens,Clicks,Forwards  BlogComments  Socialactivity 3. Lead Type Categorization  Source/Channel/Industry/Job Role Determine Your Data Profile
  39. 39. 3838 Prioritize and track touch-points
  40. 40. 39
  41. 41. 40 Lead management workflow
  42. 42. 41 1. Purchased Lists 2. Web 3. Social 4. Partner/Reseller Channel 5. Event 6. Etc. Categorize your Marketing Channels
  43. 43. 42 Setup and manage your tracking codes Element # Characters Example 1. Funnel 3 OSA a. Outside Sales Funnel A OSA b. Outside Sales Funnel B OSB c. Outside Sales Funnel C OSC d. Marketing Funnel D MKD 2. Quarter 3 (408) 3. Campaign Type 4 EMRL a. Email i. Rented List EMRL ii. House List EMHL iii. Internal List EMIL iv. Brand List Registered Users Free Trial ( Vscape Lite Users) EMBL b. Webinar WEBS c. Banner Ads BNAD d. Online Third Party ONTP e. Conference / Tradeshow CONF f. Website VFMW g. Public Relations PBRL h. PPC PPCS i. Social WB20 j. List Development LDEV 4. Vertical / Market Focus ( HO) 2 Characters a. Industry A IA b. Industry B IB c. DISTRIBUTION PARTNER DP d. OTHER OTHR e. MEDIA MD 5. Vendor Variable 6. Offer Variable 7. Drop / Start Date 6 Mmddyy 8. Campaign Element (if multiple types of promotion, then the specific type for this source code, else use code “00”) 2 NA a. Not applicable or None 00 b. Dedicated Email DE c. E-newsletter sponsorship ES d. Banner / Text Ads BA e. Whitepaper/ Offer Listing LI f. Company Listing / MicroSite CL g. Other h. Fax OT FX Example: Source code = MKD113EMBLIAB2BWebinarData-Driven070313DE
  44. 44. 43 A note about attributions
  45. 45. 44 Insert your tracking codes
  46. 46. 4545 Integrate your systems
  47. 47. 46 Identify your systems Source: Chiefmartec
  48. 48. 47 Understand your technical infrastructure
  49. 49. 48 Get the systems talking to each other Web CMS, market automation and CRM offer a common view of the customer that drives personalization across web and email
  50. 50. 4949 Test and learn
  51. 51. 50 Test, review, optimize
  52. 52. 5151 Visualize your data
  53. 53. 52 Tell a story Source: Lenskold Group
  54. 54. 53 What’s the MROI? Source: Eloqua
  55. 55. 54 Visualize your impact Source: Eloqua
  56. 56. 55 It doesn’t have to be pretty! Q4 2012
  57. 57. 5656 Thank You

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