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Metrics and Analytics Clinic - Marketo APAC

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  • 1. © 2014 Marketo, Inc. Marketo Proprietary and Confidential Metrics and Analytics Workshop How to Harness the Power of Data to Maximise Marketing ROI
  • 2. Page 2 © 2014 Marketo, Inc. @jonmiller
  • 3. Page 3 © 2014 Marketo, Inc. @jonmiller
  • 4. Page 4 © 2014 Marketo, Inc. @jonmiller
  • 5. Page 5 © 2014 Marketo, Inc. @jonmiller Topics • Building Marketing Credibility • The Right Metrics • Revenue Metrics • Marketing Program Performance
  • 6. Page 6 © 2014 Marketo, Inc. @jonmiller Quick Housekeeping • Chat box is available if you have any questions • There will be time for a Q&A at the end • We will be recording the webinar for future viewing • All attendees will receive a copy of the slides/recording • Twitter hashtag: #Marketo
  • 7. Page 7 © 2014 Marketo, Inc. @jonmiller 12% 20% 15% 9% 44% Improve profits by more than 20% Improve profits by 10% to 20% Improve profits up to 10% No major change in profits generated Don't Know What Profits Can Be Generated With 10% More Budget? #1 Answer: Don’t Know Source: 2010 Lenskold Group / emedia Lead Generation Marketing ROI Study
  • 8. Page 8 © 2014 Marketo, Inc. @jonmiller Where Metrics Go Wrong Vanity Metrics Sound good and impress people, but don’t measure impact on revenue or profitability
  • 9. Page 9 © 2014 Marketo, Inc. @jonmiller Where Metrics Go Wrong Activity Metrics Measure what you do instead of what results and impact you have
  • 10. Page 10 © 2014 Marketo, Inc. @jonmiller When Metrics Take Away Credibility Cost Metrics Frame marketing in terms of cost and spending instead of results and outcomes
  • 11. Page 11 © 2014 Marketo, Inc. @jonmiller Metrics That Give Marketing Power “Speak the Language of Business” Aggregate impact on company revenue; pipeline performance; predictive forecasts Revenue Cycle and Forecasts
  • 12. Page 12 © 2014 Marketo, Inc. @jonmiller Metrics That Give Marketing Power “Speak the Language of Business” Incremental revenue contribution and ROI of individual marketing programs Program Performance
  • 13. Page 13 © 2014 Marketo, Inc. @jonmiller Revenue Cycle Metrics
  • 14. Page 14 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle TOFU MOFU Opportunity Customer Lead Sales Lead Nurturing Database BOFU
  • 15. Page 15 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Exposed to us via content, brand, or word of mouth
  • 16. Page 16 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Feels a relationship and trust with us
  • 17. Page 17 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Names are just names.
  • 18. Page 18 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Meaningful interaction with us
  • 19. Page 19 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Qualified potential customer Nurture until sales ready
  • 20. Page 20 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out
  • 21. Page 21 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Qualified as sales-ready by Sales Development Rep (SDR)
  • 22. Page 22 © 2014 Marketo, Inc. @jonmiller Name Awareness Friend Engaged Target Marketo’s Revenue Cycle Opportunity Customer Lead Sales Lead Nurturing Database Accepted and actively worked by sales: marketing quota attainment
  • 23. Page 23 © 2014 Marketo, Inc. @jonmiller Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics
  • 24. Page 24 © 2014 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
  • 25. Page 25 © 2014 Marketo, Inc. @jonmiller Use Metrics to Set & Justify Budgets New Targets 60,000 Inventory Of Active Targets 131,000 New MQLs Score>100 23,000 15.3% Inventory of Active MQLs 10.5% 20,000 New Opps* 1,000 6 Month Created Opp Inv. 2,000 270 *Opps is bigger than SQLs because includes outbound and partner referrals SDR capacity driven Inbound/ Programs 120,000 (900K DB Total) New Names New SQLs 922 2.4% 1.9% 75% Wins 35% win
  • 26. Page 26 © 2014 Marketo, Inc. @jonmiller Introducing Marketing Forecasts • Where the CSO lacks “bottom-up” visibility, marketing forecasts can fill the void • Marketing has long- term view and visibility into the early stages of the revenue cycle Traditional Marketing Forecast The market will grow by an estimated 4.2% overall and by 5.1% in the Western region. Highly Accountable Marketing Forecast Marketing will generate an incremental 30 new deals worth $4.0 million of bookings that are not currently in the sales forecast.
  • 27. Page 27 © 2014 Marketo, Inc. @jonmiller Marketing Forecasts Get The “Definitive Guide to Marketing Metrics & ROI” http://marketo.com/DG2MM
  • 28. Page 28 © 2014 Marketo, Inc. @jonmiller Program Performance
  • 29. Page 29 © 2014 Marketo, Inc. @jonmiller
  • 30. Page 30 © 2014 Marketo, Inc. @jonmiller Accurately Tracking “Investment” vs Budget
  • 31. Page 31 © 2014 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
  • 32. Page 32 © 2014 Marketo, Inc. @jonmiller Source: 2013 Lenskold Group 2013 Lead Generation Marketing Effectiveness Study Ways that Companies Measure Program ROI
  • 33. Page 33 © 2014 Marketo, Inc. @jonmiller First Touch
  • 34. Page 34 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
  • 35. Page 35 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
  • 36. Page 36 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Inbound creates the best leads by far: high conversion, high velocity
  • 37. Page 37 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. But we also use a Portfolio of programs
  • 38. Page 38 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Sponsored Email builds the database, but low conversion
  • 39. Page 39 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Webinar, tradeshow, PPC, and virtual tradeshow are top paid TOFU
  • 40. Page 40 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Paid Social & Display Ad drive brand and amplify inbound as well
  • 41. Page 41 © 2014 Marketo, Inc. @jonmiller Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Average days to Opportunity: 327 days
  • 42. Page 42 © 2014 Marketo, Inc. @jonmiller Multi-Touch
  • 43. Page 43 © 2014 Marketo, Inc. @jonmiller Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
  • 44. Page 44 © 2014 Marketo, Inc. @jonmiller Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics
  • 45. Page 45 © 2014 Marketo, Inc. @jonmiller Example: Multi-Touch Attribution A deal worth $100,000 recently closed. Three people were involved in the deal: • Person A attended Seminar A and Trade Show B • Person B attended Trade Show B • Person C was sent Direct Mail C $100,000 Revenue $25,000 $25,000 $25,000 $25,000 Seminar A $25,000 Tradeshow B $50,000 Direct Mail C $25,000
  • 46. Page 46 © 2014 Marketo, Inc. @jonmiller Screenshot: Marketo Revenue Cycle Analytics (actual data)
  • 47. Page 47 © 2014 Marketo, Inc. @jonmiller Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5
  • 48. Page 48 © 2014 Marketo, Inc. @jonmiller Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 Inbound + Nurture = 58% of (MT) Pipeline Paid Programs = 42% of (MT) Pipeline
  • 49. Page 49 © 2014 Marketo, Inc. @jonmiller Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 (MT) Ratio = Pipeline / Investment >10 is Great and <5 is Fail Sponsored Email = 12.8, Tradeshow = 10.6, PPC = 13.0, Webinars = 25.4, Field Events = 6.6, Content Syndication 7.7
  • 50. Page 50 © 2014 Marketo, Inc. @jonmiller Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5 % Programs with MT Ratio > 5 e.g. Tradeshow has good average but 49% programs “fail”
  • 51. Page 51 © 2014 Marketo, Inc. @jonmiller Test and Control
  • 52. Page 52 © 2014 Marketo, Inc. @jonmiller Example: Test and Control Source: Lenskold Group
  • 53. Page 53 © 2014 Marketo, Inc. @jonmiller Planning for Marketing Measurement Measure ROI to find not just what works, but what works better. Establish Goals and ROI Estimates Up-Front Design Programs to Be Measurable Focus on the Decisions that Improve ROI
  • 54. Page 54 © 2014 Marketo, Inc. @jonmiller Tweetable Takeaways & Q&A 1. Reporting is less important than DECISIONS that improve ROI 2. Focus on financial metrics that matter to the CFO (profit, cash, revenue) 3. Avoid cost and spend metrics – focus on investment and return 4. Multi-touch attribution gives more insight into the full funnel 5. Almost anything can be measured with testing, but you can’t test everything 6. A trusted marketing forecast is the single most important step to make marketing a revenue driver, not a cost center @jonmiller