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Lead Generation in the Age of the Self-Directed Buyer
 

Lead Generation in the Age of the Self-Directed Buyer

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Today, your buyers are more likely than ever to ignore your lead gen efforts, research your product on their own, and reach out to you once they’re already ready to buy. In this climate, what does ...

Today, your buyers are more likely than ever to ignore your lead gen efforts, research your product on their own, and reach out to you once they’re already ready to buy. In this climate, what does it take to run an effective lead generation program?

Join Jon Miller, VP Marketing and co-founder at Marketo, to discuss this important issue that can make or break Marketing’s credibility. You’ll learn:

• The latest technologies that are transforming lead generation practices
• Methodologies for increasing conversion rates
• The right metrics by which to measure, test, and optimize your lead generation campaigns
• How and why to map out your lead’s buying journey, including hand-off to sales

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  • Our #1 secret is that we believe that buying has changed forever, and that marketing and sales need to change as well.Not that long ago, there were few 3rd party sources of information – information scarcity – which meant that a buyer had to get most of their information from sales. In this world, it made perfect sense for marketing to pass all leads over to sales. It also meant we lived in a world of attention abundance, with fewer channels competing for a buyer’s attention. Traditional marketing, characterized by Mad Men-style marketing, grew up in this era.
  • But now, there is an explosion of readily available information… According to IBM, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone.This is a recent phenomenon…When Marketo was founded in 2006, the iPhone didn’t exist, Twitter had not launched, and Facebook was only for college students. All this data = buyers today are more empowered. The Web provides them with instant information gratification. They can access detailed specs, pricing, and reviews about goods and services 24/7 with a few flicks of their thumbs. Meanwhile, social media encourages them to share and compare, while mobile devices add a wherever/whenever dimension to every aspect of the experience. Result: Forrester Reports that 65-90% of buying process is complete when consumer is walks into store/branch/dealer, or contacts salesRequires deep changes in how we market to consumers. That’s how we approached our marketing process at Marketo.
  • Changed buyer
  • With this change, marketing has the opportunity to seize the day and take a much larger share of revenue – since Marketing is responsible for that 70%. Requires Marketing to think as rigorously about their process as Sales typically thinks about their. Here’s Marketo’s…. Let me explain.
  • In traditional marketing, companies needed to rent (or beg) attention from other people’s media. Whether it’s a display ad on a website, a booth at a tradeshow, or an email sent to a third-party list, companies are essentially “renting” attention that someone else built. This can be effective, but it’s also expensive – and become less effective with attention scarcity. In contrast, with inbound marketing, companies build up their own audience and attract their own attention. Marketing needs to become like a publisher. Build your own audience and attention. Examples:superbowl add, regular tradeshow booth = rented attention. Examples of owning: rockstar tour vs tradeshow booth; blog vs traditional PR; our weekly webinar
  • Map content to the buying stage {keep it short}
  • Explain
  • We create a ton of content… go to marketo.com/resources
  • Some systems are simple, but require manual repetition of basic tasks, over and over again. In Marketo, not only are campaigns launched rapidly, they can be replicated in a matter of seconds, as only Marketo offers the ability to clone a campaign, including all of its assets, in a single click.
  • Take a webinar for example. You’ll have the email invites, registration page, reminders, follow-ups, and more. Once the webinar is cloned, simply change the date, title, description and more, and all of the assets in the cloned campaign will be updated in one fell swoop.
  • Unlike Moz, we have a sales team (not ecommerce).
  • You can do this simply by creating more content, but we’ve found it helps to push your message sometimes!
  • What I want to focus on here is two models that you can use to calculate the ROI yourself. In the first, the key is to estimate
  • So how can we be more relevant and engaging?You can’t be relevant if you’re broad.We know batch and blast does not work – it is simply less engaging. One way is to be more targeted – smaller sends = more engaging. Engagement Score enables marketers to quickly judge how effectively each piece of content is engaging prospects and customers over time… combines open, click, unsubscribe, conversion, and so on into a single metrics.
  • 18 triggers11 batches19 campaigns to manage the whole thing
  • Not all segments need to be different email versions
  • The key to relevance is behavioral targeting.So you want relevancy and engagement – but this requires sophisticated targeting that combines online body language (web traffic, search behavior, email response) plus transactional data plus with lifestyle and demographic data (personas)When behavioral cues are not used, email can be experienced as a dissonant interruption. What the sender considers a coordinated "drip campaign" may feel more like water torture to the receiver.
  • Here’s an example of how Marketo created even more relevance.Topic of interest nurturing: Nurture tracks based on four different topics that we thought our customers were interested in (email, social marketing, marketing automation, and Microsoft Dynamics). Welisten for signs that may be interested in this (events attended, web visits, keywords used etc.), and if so assign them to the specific track nurture track. If they get to the end of that specific track, we put them back to regular until they do something else specific.
  • Result: Big lift!More on our blog about this: http://blog.marketo.com/blog/2013/06/topic-of-interest-based-nurturing.html
  • While this may be straightforward for programmers, it’s a foreign language to most marketers…This makes the marketer reliant on technical resources for anything that’s not simple, especially anything that incorporates behaviors beyond email open and click
  • Mention Positive and Negative Demo Score
  • Here’s how Marketo does it. Latent behaviors – interestActive behaviors – buying intent
  • Active vs Latent Leads – very different follow-up. Active <5 min response. Latent, craft a personalized message.
  • Many marketers are perceived as a cost center. You can’t expect your organization to place value on something you’re unable to quantify. But when you do use the right metrics and processes, there is nothing more powerful to help marketing earn it’s rightful seat at the revenue table.Here I show you how Marketo does it.
  • Step 1: Important to track all touches
  • Step 1: Important to track all touches
  • Here we see what works for Marketo (over the last 12)58% ofpipeline from Inbound activities
  • With this change, marketing has the opportunity to seize the day and take a much larger share of revenue – since Marketing is responsible for that 70%. Requires Marketing to think as rigorously about their process as Sales typically thinks about their. Here’s Marketo’s…. Let me explain.
  • ModelNote Success Path and Detours; Inventory and SLAs
  • Google Analytics for Revenue
  • Three benefits to owning your own attention
  • Treat consumers as partners…not just customers 71% of consumers trust solutions that provide useful info without trying to sell them something Acknowledge and respect consumers’ evaluation/consideration processes 85% trust solutions that walk them through various paths toward decisions, rather than just providing answers Support consumers after purchase 62% of consumers trust solutions that provide info and tools for using products they’ve bought Demonstrate an understanding that consumers’ lives change 83% trust solutions that include resources for using products every step of the way, as needs evolve Build engagement solving consumers’ large and small challenges 85% trust solutions that use ads/sponsored content to inform, help with a need