Marketo's Secret Sauce: Smarter Marketing for Better Results
 

Like this? Share it with your network

Share

Marketo's Secret Sauce: Smarter Marketing for Better Results

on

  • 15,754 views

You've heard the buzz about marketing automation and how it can help maximize your marketing efforts. But do you really understand how to use it effectively to drive amazing results? In this webinar, ...

You've heard the buzz about marketing automation and how it can help maximize your marketing efforts. But do you really understand how to use it effectively to drive amazing results? In this webinar, Jon Miller, Co-founder and VP of Marketing at Marketo presents an up-close and exciting look into the content marketing, lead generation, and marketing automation strategies that are driving Marketo’s growth.

You'll see how the experts at Marketo do it themselves, including actual examples of how Marketo’s smart and innovative programs produce such eye-popping results as:

-147% increase in nurture email click rates
-50% gain in marketing qualified leads at 33% less cost per lead
-40% improvement in sales productivity

Statistics

Views

Total Views
15,754
Views on SlideShare
1,954
Embed Views
13,800

Actions

Likes
10
Downloads
149
Comments
0

14 Embeds 13,800

http://www.marketo.com 12874
http://eu.marketo.com 407
http://uk.marketo.com 158
http://au.marketo.com 153
http://asia.marketo.com 87
https://www.marketo.com 58
http://briangroth.wordpress.com 42
http://mea.marketo.com 7
http://translate.googleusercontent.com 4
https://twitter.com 3
http://nathan.dev.www.marketo.com 2
http://plus.url.google.com 2
http://www.google.com 2
http://10.60.10.50 1
More...

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • 1. Customers (Line Chart of active customers.). Second axis of net new customers as a bar chart. ( new less churn). Note in looking at the board slide the new customer less churn numbers don’t equal the net change in active customers in a couple of quarters. May be a good reason but I couldn’t explain. I think the net adds must tie to net increase in active customers.
  • 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.
  • 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.
  • Many names are not yet our friendsNames are NOT leads, don’t call them leads
  • Majority of leads NOT sales ready. This is OK since human interaction is part of developing the relationship (nurturing). These Lead are recycled back to Target for additional nurturing until Sales Ready.
  • Sales does on call, and converts if Opp
  • This is how Marketing gets paid… carry a quota for Opportunity created.Only Sales can create the opportunities. [Requires very solid definitions of what is an opp, since people get paid on it – can’t be subjective.]
  • So how are we responding to this? Not good.So between the marketers that are still batching and blasting, or sending personalized messages that aren’t relevant right now, this is kind of what it feels like to be a consumer today.  On any given day, the average customer will be exposed to 2,904 media messages, will pay attention to 52 and will positively remember 4 – SuperProfile 2010  
  • 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}
  • Content also gives us offers for links + to use for paid lead generation + lead nurturing + behavioral scoringSEO + SOCIAL + OUTBOUND
  • So that’s who we use Inbound and Social to drive Prospects…. But we also use paid programs to grow even faster, so let’s dive into what works best there.
  • Top of funnel – first metrics you use to evaluate a program. Opps take a while to develop, so while you’re waiting….Old school metrics: Cost per name, cost per new name, cost per click, cost per million, etc – none of this matters, you want the RIGHT names.But the real question is – what’s driving PIPELINE??
  • HERE IS THE MONEY SLIDE! (Literally and figuratively.)Summarizes our ROI… = PPC + 3rd party emails
  • How do we run 40+ programs a month?Marketing automation makes it easy. For example, we run a roadshow series of events we call the Revenue Rockstar tour… 14 cities, two events in each (100-150 people for 3 hours, plus 10-15 execs for a breakfast). Each program comes with multiple landing pages, multiple campaigns, and more than a dozen emails for invites, reminders, follow-ups and so on. The complexity could be overwhelming, but using Marketo’s Program functionality, we can simply create the program one time. Then, when we are ready to use the next one, we simply clone the program and update the parameterized values called Tokens, e.g. the date, location, registration URL, and so on. Then, all the emails and landing pages automatically use those values – no additional effort is required!That’s an example of offline events… But we also do online events like webinars, where we get even more automation by integrating with the webinar provider so we automatically get the registration and attendee information. In fact, we have a total of 25 different program types – and have built best practice templates for type [including tradeshows, emails, display advertising, content syndication, and so on], so our program managers can simply clone the template each time… The result is we can run so many programs easily and efficiently!
  • Key point – paid ads don’t work great in social, but being authentically social does…So how do we take advantage of that learning?
  • See customer preso
  • Make every sharing trackable, then testable and optimize over time
  • OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
  • What needs to be different?Dance analogy:Broad top of funnel – use social and paid to get as many people to dance as possibleBut then do you just stand around waiting for someone to dance? No. Better to flirt a little (nurture). And look at their body language to see when they might be read to dance (scoring).
  • This is a screenshot of Marketo Customer Engagement. You can see it is very friendly looking and it is very easy to use and run.
  • For twitter: For every one self-serving tweet, you should re-tweetone relevant tweet and most importantly sharefour pieces of relevant content written by others. – Joe Pulizzi and TippingPoint labs
  • 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
  • Mention Positive and Negative Demo Score
  • 12% points higher revenue growth vs average17% more sales time spent selling40% growth in sales productivity
  • Here’s how Marketo does it. Latent behaviors – interestActive behaviors – buying intent
  • OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
  • 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.
  • Let’s talk about measuring what the CXO cares about.. While you may not be doing all this analysis now, you most likely will in their future. [Be sure to focus on this point a lot so you don’t lose them.]ROI: First investment – then revenueMeasureROItofind not just what works, but what works betterEstablish goals upfrontMake sure programs are measureableFocus on decisions that improve ROI
  • Next, let’s focus on “Investment” side of ROI. Notice it’s investment, not cost. You “invest’ in growth, marketing is a growth driver.-Then you enter and track your budget plan-as invoices come in from your financial system, you can map them to line items-you can also map your Marketo programs to specific budget categories or line items-you can track planned, forecasted and actual spend, and indicate whether forecasted spend is committed or optional
  • Step 1: Important to track all touches
  • Step 1: Important to track all touches
  • Different pipeline allocations – first / even
  • Here we see what works for Marketo over the last 12 months to generate prospects. Explain columns…Website+Blog = 38% of all oppsBut I’d be a bad stock picker if I put all my money in one stock, and I’d be a bad marketer if I bet all my prospect generation on one source. The reality is you need a portfolio of prospects and channels to achieve the best results. In fact, Marketo runs an average of 40 different Prospect generating programs each and every month across all these sources.
  • ModelNote Success Path and Detours; Inventory and SLAs
  • Google Analytics for Revenue

Marketo's Secret Sauce: Smarter Marketing for Better Results Presentation Transcript

  • 1. © 2013 Marketo, Inc. Marketo Proprietary and Confidential Marketo's Secret Sauce: Smarter Marketing for Better Results How the experts at Marketo use marketing automation themselves
  • 2. Page 2 © 2013 Marketo, Inc. @jonmiller Hi, I’m Jon Miller Subscribe to blog.marketo.com @jonmiller 1. Born in Ethiopia 2. Can dislocate my thumbs at will 3. Studied Physics at Harvard, captain of high- school debate team and newspaper staff 4. My first child was born the same month that we incorporated Marketo
  • 3. Page 3 © 2013 Marketo, Inc. @jonmiller Rapid Growth and Momentum $0.7 $1.0 $1.2 $1.6 $2.4 $3.1 $4.0 $4.6 $6.1 $7.4 $8.7 $10.1 $12.2 $13.9 $15.4 $16.8 $19.7 Q1 ‘09 Q1 ’10 Q1 ’11 Q1 ’12 Q1 ’13 135%Compounded Annual Revenue Growth >2300Customers Revenue (Millions)
  • 4. Page 4 © 2013 Marketo, Inc. @jonmiller
  • 5. Page 5 © 2013 Marketo, Inc. @jonmiller ABUNDANCE INFORMATION
  • 6. Page 6 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle TOFU MOFU Opportunity Customer Contacted Sales Lead Nurturing Database BOFU
  • 7. Page 7 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Exposed to us via content, brand, or word of mouth
  • 8. Page 8 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Feels a relationship and trust with us
  • 9. Page 9 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Names are just names.
  • 10. Page 10 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Meaningful interaction with us
  • 11. Page 11 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Meaningful interaction and qualified demographics Nurture until ready for next step
  • 12. Page 12 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Live human interaction with an SDR
  • 13. Page 13 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Qualified as sales-ready by SDR
  • 14. Page 14 © 2013 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Contacted Sales Lead Nurturing Database Accepted and actively worked by sales
  • 15. Page 15 © 2013 Marketo, Inc. @jonmiller Sounds great, but I have almost 1 million contacts!
  • 16. Page 16 © 2013 Marketo, Inc. @jonmiller Processes at scale
  • 17. © 2013 Marketo, Inc. Marketo Proprietary and Confidential Inbound and Content Marketing
  • 18. Page 18 © 2013 Marketo, Inc. @jonmillerSource: Adbusters, 2011
  • 19. Page 19 © 2013 Marketo, Inc. @jonmiller
  • 20. Page 20 © 2013 Marketo, Inc. @jonmiller Blog, e-books, research data, funny videos, curated lists, infographics, webinars Thought leadership and enjoyable content to build brand and awareness Tools that help buyers find you when they are looking for solutions Company-specific information to help evaluate and reaffirm selection Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports Pricing, demos, services information, 3rd party reviews, customer case studies Early Stage Middle Stage Late Stage
  • 21. Page 21 © 2013 Marketo, Inc. @jonmiller Four Tips to Build Content Like Marketo • Appoint executive editor • Invest in content creators • Content consumers • Great communicators • Self-promoters • Distribute creation: content staff + all internal + community-generated • Create a content / social policy Marketo invests 10% of marketing headcount into content
  • 22. Page 22 © 2013 Marketo, Inc. @jonmiller Content Results • Content “influencing” 45% of opportunities, “driving” 18% of opportunities • 17% of contacts associated with new business opps also visited blog at least once in last 90 days Source: Marketo Analytics screenshot
  • 23. © 2013 Marketo, Inc. Marketo Proprietary and Confidential Paid Programs
  • 24. Page 24 © 2013 Marketo, Inc. @jonmiller Avg Demographic Score: Which programs bring in the targets we want? $ / Target: Which programs bring in targets most cost- effectively? % New: Where are we exhausting the lists? Top Of Funnel Metrics (TOFU)
  • 25. Page 25 © 2013 Marketo, Inc. @jonmiller Source: Marketo Revenue Cycle Analytics, Q2-2013 paid programs only (as of 7/22/2013) Sponsored email is the workhorse for TOFU Tradeshows, events, and PPC drive expensive targets Virtual tradeshows = low cost targets But not all targets are equal value!
  • 26. Page 27 © 2013 Marketo, Inc. @jonmiller Sidebar on Social
  • 27. Page 28 © 2013 Marketo, Inc. @jonmiller Social is very important for brand and content amplification* Paid social can work for lead gen, but ROI is average (exception: Slideshare Pro) Note: New names from Social slow to convert to Opportunities – organic names are VERY slow Source: Marketo Data as of Jun-2013; Marketo Revenue Cycle Analytics *Facebook “People Talking About Us” averages 9,200 a week names ≠ targets
  • 28. Page 29 © 2013 Marketo, Inc. @jonmiller 70% trust friends and family <20% trust company messages
  • 29. Page 30 © 2013 Marketo, Inc. @jonmiller Reach&Engagement SocialLift SocialLift SocialLift SocialLift SocialLift Landing Pages Website Facebook Pages Online Ads Email SocialLift Events Making Every Campaign Social
  • 30. Page 31 © 2013 Marketo, Inc. @jonmiller
  • 31. Page 32 © 2013 Marketo, Inc. @jonmiller Test & Tune With Social Funnel Metrics Coloring Book Results • 289 participants shared • 354 registered downloads • 19.8% increase in registered downloads
  • 32. © 2013 Marketo, Inc. Marketo Proprietary and Confidential Middle of the Funnel
  • 33. Page 34 © 2013 Marketo, Inc. @jonmiller But who is ready? You got them to the dance
  • 34. Page 35 © 2013 Marketo, Inc. @jonmiller AllNames Target& Recycled Engaged Lead Nurturing Lead Nurturing Plugs the Leak Building relationships with qualified prospects regardless of their timing to buy, with the goal of earning their business when they are ready. Con- tacted Opportunity Sales Lead MQL SAL SQL Marketo Data: •% new Targets not Opp ready: 98% •Target to Opp time: 123 days avg •% Slow Leads: 80% •50% more MQLs at 33% lower cost per lead
  • 35. Page 36 © 2013 Marketo, Inc. @jonmiller Lead Nurturing Relevance A B C D 1 2 3 Stages 1. BUYING STAGES • Early • Mid and Late • Customer 2. BUYING PROFILES • Role (Marketing, Sales, Exec): 67% • Industry: 82% • Company Size: 49% • Geography: 29% Get The “Definitive Guide to Lead Nurturing” http://marketo.com/DG2LN
  • 36. Page 37 © 2013 Marketo, Inc. @jonmiller
  • 37. Page 38 © 2013 Marketo, Inc. @jonmiller Send four educational / enjoyable messages for every one soft promotion and one hard promotion The 4-1-1 Rule for Nurturing 4 1 1
  • 38. Page 39 © 2013 Marketo, Inc. @jonmiller Snippets for Scalability A B C D E F Define Segments Create Snippets Create/Send One Email Email 1 A Email 1 B Email 1 E Email 1 F Email 1 C Email 1 D Industry, Geography, Company Size, Customer vs Prospect, etc.
  • 39. Page 40 © 2013 Marketo, Inc. @jonmiller Example: Topic of Interest Triggers • Attends event • Downloads content • Click email • Fills out form • Score is changed
  • 40. Page 41 © 2013 Marketo, Inc. @jonmiller Standard Nurture Triggered Interests Lift Open % 21.7% Open % 34.0% 57% Click to Open % 23.4% Click to Open % 37.1% 59%
  • 41. Page 42 © 2013 Marketo, Inc. @jonmiller Lead Scoring Defined “Shared sales and marketing methodology for ranking leads in order to determine their sales readiness” Nurture Nurture DisqualifyPass to Sales Pass to Sales Fit Interest Buying Stage @jonmiller
  • 42. Page 43 © 2013 Marketo, Inc. @jonmiller Hard ROI of Lead Scoring We pass everything to sales and let them cherry pick We score leads based on fit We score leads based on fit as well as interest 0% 5% 10% 15% 20% 25% 30% 35% Revenue Growth vs Peers We pass everything to sales and let them cherry pick We score leads based on fit We score leads based on fit as well as interest 0% 10% 20% 30% 40% 50% 60% 70% Sales Time Spent Selling Source: Marketo Benchmark on Revenue Performance as of May 10, 2012 (N=300)
  • 43. Page 44 © 2013 Marketo, Inc. @jonmiller Demographic “Fit” Score Positive Demographic Score • e.g., Marketing Manager title, known CRM customer, known competitive solution customer Negative Demographic Score • e.g., Generic email address, illegitimate phone number, non-existent company (unemployed, self, looking) Data Augmentation Not Forms
  • 44. Page 45 © 2013 Marketo, Inc. @jonmiller • Early stage content +3 • Attend webinar: +5 • Visit any webpage / blog : +1 • Visit careers pages: -10 • Decay inactivity: -1, -5, -10 • Pricing pages: +10 • Watch demos: • +5 overview • +10 detailed • Mid-stage content +8 • Late-stage content +12 • Searches for branded keyword “Marketo” +8 Get The “Definitive Guide to Lead Scoring” http://marketo.com/DG2LS
  • 45. Page 46 © 2013 Marketo, Inc. @jonmiller Sort Score and Act Now • Free Trial form • Contact Me form • Key late stage content • Viewed weekly live demo • Viewed deep dive demo • Viewed demo on AppExchange • Request live demo MQL > 53 sort score
  • 46. Page 47 © 2013 Marketo, Inc. @jonmiller Sales Development Reps (SDRs) Pass The Baton from Marketing to Sales • Faster, more consistent, & better quality follow-up on leads • Better economics • The human touch enhances lead nurturing • Better data and more metrics • Talent development for sales Best place for dramatic improvements in business performance are handoffs between functions
  • 47. Page 48 © 2013 Marketo, Inc. @jonmiller Stars and Flames show priority Full list of Interesting Moments
  • 48. Page 49 © 2013 Marketo, Inc. @jonmiller No Lead Left Behind: Service Level Agreements Day 0 Notification Day 1 If untouched, reminder Day 2 If untouched, reminder cc boss Day 3 If untouched, alert executives Day 7 If stale, reminder Day 8 If stale, reminder cc boss Day 9 If stale, alert executives
  • 49. © 2013 Marketo, Inc. Marketo Proprietary and Confidential Revenue Analytics
  • 50. Page 51 © 2013 Marketo, Inc. @jonmiller
  • 51. Page 52 © 2013 Marketo, Inc. @jonmiller
  • 52. Page 53 © 2013 Marketo, Inc. @jonmiller Accurately Tracking “Investment” vs Budget
  • 53. Page 54 © 2013 Marketo, Inc. @jonmiller Why Measuring Return is Hard • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people
  • 54. Page 55 © 2013 Marketo, Inc. @jonmiller Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
  • 55. Page 56 © 2013 Marketo, Inc. @jonmiller Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
  • 56. Page 57 © 2013 Marketo, Inc. @jonmiller Screenshot: Marketo Revenue Cycle Analytics (actual data)
  • 57. Page 58 © 2013 Marketo, Inc. @jonmiller What Generates Pipeline for Marketo? Source: Marketo Revenue Cycle Analytics, June 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 Nurture Email - CTA Nurture Email Paid Online (PPC+Email) Nurture (New) % Above Min* N/A 52% 100% 39% 79% 46% 100% 38% N/A N/A N/A 29% 38% 52%7.6
  • 58. Page 59 © 2013 Marketo, Inc. @jonmiller Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics
  • 59. Page 60 © 2013 Marketo, Inc. @jonmiller Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc. Key topic areas: • Balance (Reach) • Flow • Conversion • Velocity Trends over time Screenshot: Marketo Revenue Cycle Analytics
  • 60. Page 61 © 2013 Marketo, Inc. @jonmiller Marketing Forecasts Get The “Definitive Guide to Marketing Metrics & ROI” http://marketo.com/DG2MM
  • 61. Page 62 © 2013 Marketo, Inc. @jonmiller Key Takeaways 1. The way buyers buy has changed forever – the way we market and sell must change as well 2. Publish / own content to help leads find you 3. Leverage peer-to-peer influence to give every campaign a social boost 4. Most leads are not “sales ready” – nurture relationships over time 5. Use analytics to turn marketing from a cost center into a revenue driver
  • 62. Page 63 © 2013 Marketo, Inc. @jonmiller Additional Resources The Definitive Guide to Social Marketing http://marketo.com/DG2SM The Definitive Guide to Marketing Metrics & ROI http://marketo.com/DG2MM The Definitive Guide to Marketing Automation http://marketo.com/DG2MA
  • 63. Page 64 © 2013 Marketo, Inc. @jonmiller Marketo, Inc. 901 Mariners Island Suite 200 San Mateo, CA 94404 Direct: +1.650.376-2310 blog.marketo.com www.marketo.com JON MILLER VP Marketing jon@marketo.com @jonmiller Question and Answer
  • 64. © 2013 Marketo, Inc. Marketo Proprietary and Confidential