Building a Business Case for Marketing Automation
 

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Jon Miller, VP of Marketing Content and Strategy, Marketo and Chris Roeckl, VP WW Field Marketing, Fluke Networks discuss: ...

Jon Miller, VP of Marketing Content and Strategy, Marketo and Chris Roeckl, VP WW Field Marketing, Fluke Networks discuss:
- Why so many companies are using Marketing Automation, and how it relates to their other marketing efforts like inbound marketing, social marketing, and event marketing
- How marketing automation compares to email marketing, and when is appropriate to use one verses the other
- How marketing automation actually enhances the use of Salesforce, and can even improve Salesforce utilization and adoption
- The benefits of Automation, including how marketing can run more campaigns and deliver more qualified leads to sales in less time

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Building a Business Case for Marketing Automation Presentation Transcript

  • 1. Business Case for MarketingAutomationJon Miller, VP Marketing and Co-Founder, Marketo@jonmiller #BizCaseMAChris Roeckl, VP, WW Field Marketing, Fluke Networks@croeckl
  • 2. Today’s Topics• Marketing automation overview• Benefits of marketing automation – quantification• Investments required for marketing automation• Case study: Fluke Networks• Q&A @jonmiller #BizCaseMA
  • 3. @jonmiller #BizCaseMA
  • 4. Raise your hand if… You have the ability to send marketing emails. @jonmiller #BizCaseMA
  • 5. Keep it raised if… You can easily create new landing pages for each campaign. @jonmiller #BizCaseMA
  • 6. Keep it raised if… You can set up the emails for a webinar up-front and let it run ‘lights-out’. @jonmiller #BizCaseMA
  • 7. Keep it raised if… You can measure the pipeline contribution of each marketing program @jonmiller #BizCaseMA
  • 8. If your handis still up, youmay leave theroom @jonmiller #BizCaseMA
  • 9. Marketing automation is a… Technology that streamlines and automates marketing tasks so companies can  increase operational efficiency and  grow revenue faster @jonmiller #BizCaseMA
  • 10. Basic Marketing Automation Campaign: Event Send Event Invitation Wait 3 Days If Not Registered,Send ReminderWait Until 1 Day After EventSend Different Follow-Up toAttendees vs.Non-Attendees @jonmiller #BizCaseMA
  • 11. Why now? Changing buyer behavior requires new marketing techniques Downward pressure on budgets – marketers forced to do more with less New marketing techniques (content, inbound) driving wider top of the funnel; manual processes don’t keep up @jonmiller #BizCaseMA
  • 12. Main features of marketing automation (not in CRM) Email: batch and triggered  Webinars / event marketing Landing pages / forms  Mobile: emails and LPs, reporting A/B testing  Social: profiles, tracking, campaigns, Automate multi-touch programs / drip sign-on, promotions. marketing  Dynamic content CRM integration  Data quality / cleanse / append Segmentation  Program ROI analytics Online behavior tracking  Revenue cycle metrics Program management  Security rules, workflow, approvals Lead scoring  Marketing calendar Sales alerts and tasks  Budgeting = common = less common = large variance in capabilities feature feature among vendors with this feature @jonmiller #BizCaseMA
  • 13. Common Misconceptions to Marketing AutomationMisconception Response MA does require leads, but complete systems includeDoesn’t build the list functionality for lead generation programs (events, etc.) While MA started with email, most solutions today offer orToo email focused – not integrate to social including social profiles, tracking,social campaigns, sign-on, and promotions. MA can be used for good marketing or bad marketing, butRobotic, irrelevant, spam – behavioral segmentation and 1:1 targeting usuallynot about the customer improves relevance @jonmiller #BizCaseMA
  • 14. Three core benefits of marketing automation Faster revenue growth Measure and optimize marketing investments Save money and time @jonmiller #BizCaseMA
  • 15. Save money and time • Streamline and automate repeatable processes • Do it yourself • Simplify approvals, ensure compliance “We needed a way to automate our marketing campaigns so that we • Fewer spreadsheets could focus our time and resources on the best opportunities. That’s the only way to really drive business.” -- John Watton, VP, ShipServ Business cases based on cost savings are very strong @jonmiller #BizCaseMA
  • 16. Measure and optimize marketing investmentsMarketing under pressure to bemeasurable• Economic uncertainty puts budget and revenue process under scrutiny• Highly measurable direct channels raise expectations for all marketing• C-suite uneasy that so much rides on marketing these days @jonmiller #BizCaseMA
  • 17. Measure and optimize marketing investments Demonstrate impact on funnel Prove program ROI Measure / test / optimize System of record Hard to make quantitative business case on improved measurement, but can be a good way to convince CFO. @jonmiller #BizCaseMA
  • 18. Faster revenue growth• Focus on the right prospects• Develop relationships until buyer is ready• Engage at the right time• Scale personalized interactions (right message) Now, let’s quantify this! @jonmiller #BizCaseMA
  • 19. Immediacy A framework No Marketing Automation Marketing Automation Names MQL = Marketing Qualified Lead (ready to call) SQL = Sales Qualified Lead (engaged in active opportunity) Wins Average Selling Price @jonmiller #BizCaseMA
  • 20. Marketing automation maturity Revenue Performance Management Improve business results Integrated through continuous Pipeline analysis and optimization of sales and marketing resources Demand Embrace multi-channel program delivery Generation Lead scoring and Traditional Enable business users to nurturing Marketing create content, manage Alignment between sales campaigns and events and marketing Leverage batch email or direct mail CRM Integration Integration to 3rd party communications to systems stay in touch with Lead scoring practices customers @jonmiller #BizCaseMA
  • 21. Marketing automation maturity Revenue Performance Management Improve business results Integrated through continuous Pipeline analysis and optimization of sales and marketing resources Basic Marketing Embrace multi-channel Automation program delivery Lead scoring and Traditional Enable business users to nurturing Marketing create content, manage Alignment between sales campaigns and events and marketing Leverage batch email or direct mail CRM Integration Integration to 3rd party communications to systems stay in touch with Lead scoring practices customers @jonmiller #BizCaseMA
  • 22. Marketing automation maturity Revenue Performance Management Refined Marketing Automation Improve business results through continuous analysis and optimization of sales and marketing resources Basic Marketing Embrace multi-channel Automation program delivery Lead scoring and Traditional Enable business users to nurturing Marketing create content, manage Alignment between sales campaigns and events and marketing Leverage batch email or direct mail CRM Integration Integration to 3rd party communications to systems stay in touch with Lead scoring practices customers @jonmiller #BizCaseMA
  • 23. Marketing automation maturity Revenue Performance Management Refined Marketing Automation Improve business results through continuous analysis and optimization of sales and marketing resources Basic Marketing Embrace multi-channel Automation program delivery Lead scoring and Traditional nurturing Enable business users to Marketing create content, manage Alignment between sales campaigns and events and marketing Leverage batch email or direct mail CRM Integration Integration to 3rd party communications to systems stay in touch with Lead scoring practices customers @jonmiller #BizCaseMA
  • 24. Benchmark survey: marketing automation maturity50.0%45.0%40.0%35.0%30.0%25.0%20.0% 42.9%15.0% 29.7%10.0% 18.6% 5.0% 8.8% 0.0% Traditional Marketing Basic Marketing Refined Marketing Revenue Performance (91) Automation (210) Automation Management (43) (145) Source: Marketo Benchmark on Revenue Performance as of Sept 15, 2012 (N=489) @jonmiller #BizCaseMA
  • 25. Percentage of sales time spent directly on selling80%70%60%50%40% 73%30% 55% 59%20% 48%10%0% Traditional Marketing Basic Marketing Refined Marketing Revenue Performance (91) Automation (210) Automation Management (43) (145) Source: Marketo Benchmark on Revenue Performance as of Sept 15, 2012 (N=489) @jonmiller #BizCaseMA
  • 26. Target revenue plan achieved: last 12 months120%100%80%60% 101%40% 74% 81%20% 56% 0% Traditional Marketing Basic Marketing Refined Marketing Revenue Performance (91) Automation (210) Automation Management (43) (145) Source: Marketo Benchmark on Revenue Performance as of Sept 15, 2012 (N=489) @jonmiller #BizCaseMA
  • 27. Funnel conversion rate by maturity Revenue Performance Management Refined Name to MQL: 33% Marketing MQL to SQL: 38% Automation SQL to Win: 39% Basic 1 in 20 Marketing Name to MQL: 24% Automation MQL to SQL: 30% Traditional SQL to Win: 27% Marketing Name to MQL: 28% 1 in 53 MQL to SQL: 25% Name to MQL: 11% SQL to Win: 22% MQL to SQL: 20% 1 in 66 SQL to Win: 21% 1 in 221 MQL = Marketing Qualified Lead (ready to call) SQL = Sales Qualified Lead (engaged in active opp) Source: Marketo Benchmark on Revenue Performance as of Sept 15, 2012 (N=489)
  • 28. @jonmiller #BizCaseMA
  • 29. Companies with $5 million “Core” Marketing to $500 million revenue Automation Source: Raab Associates 2012 B2B Marketing Automation Vendor Selection Tool (VEST) @jonmiller #BizCaseMA
  • 30. How Much Does Marketing Automation Cost? Usually Based on Edition + Number of Contacts + Contract Term Sample Published Pricing as of 15 Sept 2012 (per month, paid annually)Vendor Edition 10K contacts 100K contacts Quarterly OptionEloqua Marketer $2,000 Call NoEloqua Team $4,000 Call NoHubspot Professional $1,400 (20k) $4,600 (20k) No?Marketo Spark $995 $2,495 YesMarketo Standard $1,995 $3,995 YesPardot Professional $1,000 (30k) $2,200 (120k) YesReview each edition carefully to understand what functionality each package offers.Note: Act-On and Silverpop do not publish pricing. Act-on website says “Pricing starts at $500 per month”.Pardot Enterprise starts $2K/mo, Pardot Ultimate at $3K/mo.Hubspot Enterprise starts at $1.8K/mo for 20k contacts. (Hubspot Basic does not include Marketing Automation.)Marketo Select starts at $3,195/mo. Marketo and Eloqua also offer Enterprise editions. @jonmiller #BizCaseMA
  • 31. Additional Costs and ConsiderationsSoftware subscription is typically 25-40 percent of overall investmentrequired for success: Revenue• Process definition, consulting Performance Management• Staff and skills, training Refined Marketing• Data: cleansing, augmentation, Basic Automation appending Marketing Automation• Content Traditional Marketing• Lead generation (inbound/outbound) Less Investment More Investment• CRM implementation upgrades @jonmiller #BizCaseMA
  • 32. @jonmiller #BizCaseMA
  • 33. Chris RoecklVP WW Field Marketing@croeckl
  • 34. Marketing automation evolvesWay back when (5 years)• Send some email – all leads were good leads• Nurture leads – read one white paper, here’s another• Route MQLs – sales starving or drowning @croeckl #BizCaseMA
  • 35. Now• Digital body language• Impact• Operational efficiency @croeckl #BizCaseMA
  • 36. Fluke networks deployment y
  • 37. Under pressure• Budget• Headcount• Waste @croeckl #BizCaseMA
  • 38. Details matter• Listen• Align, realign• Operationalize• Results• Quota @croeckl #BizCaseMA
  • 39. ‘It’s arithmetic’[Goal X Marketing Contribution (%)] / ASP / WinRate] /[Oppty Conversion Rate /Qualified Lead ConversionRate] / [Sales Reps/ 208 X 5] =Leads per rep per week
  • 40. Visible contribution % Marketing Source Revenue for AMM • Revenue contribution45%40%35% • Funnel contribution30%25% • Program success /20% velocity15%10%5%0% 2009 2010 2011 2012 * 2012 YTD
  • 41. • Forecast revenue from marketing• Social and event integration• Increase campaign effectiveness• Increase conversion rates• Return On Marketing Investment
  • 42. Key Takeaways1. Changing buyer behavior requires new marketing techniques – and technologies2. Marketing automation is much more than email3. Business case for marketing automation: saves money, measures marketing ROI, and drives faster revenue growth4. Maturity matters: the more you put into #BizCaseMA marketing automation, the more you get out @jonmiller @croeckl5. Sales alignment is critical for success6. Dream big, start small, get fast results, build from there
  • 43. Additional Resources Personalized Benchmark on Revenue Performance http://www.marketo.com/RPM The ROI of Marketing Marketing Automation Automation Buyers Kit B2B Marketers Must Magic Quadrant for CRM Prepare For Marketing Lead Management Automation @jonmiller #BizCaseMA
  • 44. Jon Miller Chris RoecklVP Marketing and Co- VP WW Field Marketing, Founder, Marketo Fluke Networks @jonmiller @croeckl#BizCaseMA