Creating the Perfect Mix of Art and Science in Your B2B Marketing Programs
 

Creating the Perfect Mix of Art and Science in Your B2B Marketing Programs

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n this Marketo case study, Jon Miller, VP of Marketing at Marketo, explores the art and science of Marketo’s rapid growth. Leverage Jon’s own secret sauce to demand generation to help accelerate ...

n this Marketo case study, Jon Miller, VP of Marketing at Marketo, explores the art and science of Marketo’s rapid growth. Leverage Jon’s own secret sauce to demand generation to help accelerate your marketing and improve your revenue performance. In this on-demand webinar, you’ll gain practical tips and ideas for immediate use in your marketing strategies, including best practices on:

* Lead nurturing: Triple the amount of new leads using nurturing
* Lead scoring: Improve ROI by prioritizing sales efforts to meet and achieve quota
* Form building and registration: Learn when to ask for registration and increase conversion rates and lower cost per lead

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Creating the Perfect Mix of Art and Science in Your B2B Marketing Programs Creating the Perfect Mix of Art and Science in Your B2B Marketing Programs Presentation Transcript

  • Creating the Perfect Mix of Art and Science in Your B2B Marketing Programs: Marketo Secret Sauce Case Study Jon Miller, VP Marketing and Co-Founder, Marketo Author of Modern B2B Marketing blog © 2010 Marketo, Inc.
  • How Marketo Does It About Marketo: Marketing automation & sales effectiveness (SaaS) 700 mid-market and enterprise customers  Tech, business services, manufacturing, finance, etc. 3 ½ years old, 110 employees Highly efficient revenue cycle:  65% of revenue directly sourced by marketing  Sales reps carry $1.2M annual recurring revenue quota © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 2
  • Marketing and Sales 1.0 © 2010 Marketo, Inc. Page 3
  • Marketo’s Revenue Cycle MQL All Names Recycled Prospect Engaged SQL Awareness SAL Cust- Sales Oppor- Lead Lead & tunity omer Nurturing Database Marketing SDR Sales © 2010 Marketo, Inc. Page 4
  • Marketing as a Publisher www.marketo.com/resources blog.marketo.com • 180+ Best Practices • 9,000+ subscribers • Two updates per week • Multiple channels for marketing, sales © 2010 Marketo, Inc. Page 5
  • Traffic Sources (marketo.com Q310) Website Blog © 2010 Marketo, Inc. Page 6
  • When To Ask For Registration? Early Stage Example: SiriusDecisions Thought leadership and best practices to build brand and awareness Middle Stage Buyers guides, RFP templates and industry information to help structure research Late Stage Company-specific information to help evaluate and reaffirm selection © 2009 Marketo, Inc. Marketo Proprietary and Confidential Page 7
  • Forms: Ask Only What You Really Need Short Form (5 fields) Conversion rate: 13.4% Cost per: $31.24 Medium Form (7 fields) Conversion rate: 12.0% Cost per: $34.94 Long Form (9 fields) Conversion rate: 10.0% Cost per: $41.90 © 2010 Marketo, Inc. Page 8
  • Marketo Prospect Generation 1H2010 Source Prospects Cost Opps Nurture Impact 3rd Party Email Blast 2,476 $35 22 Medium Trade Show –Virtual 2,019 $33 28 Medium Sponsorship 1,296 $81 12 Medium Trade Show 929 $104 38 High Alliance 743 $40 13 Medium PPC 686 $182 28 High Content Syndication 89 $98 0 Medium Website 2,586 178 Low Partner 358 21 High AppExchange 308 18 Low Referral 302 49 Low Sales Outbound 178 56 High Inbound Call 91 33 Low Blog 55 3 Medium © 2010 Marketo, Inc. Page 9
  • Why Lead Nurturing: Stay in Touch Building relationships with qualified prospects regardless of their timing to buy, with the goal of earning their business when they are ready. MQL All Names Recycled Prospect Engaged SQL SAL Lead Sales Oppor- Lead Lead & Nurturing tunity “The art of maintaining permission to stay in front of your buyers as they educate themselves” © 2010 Marketo, Inc. Page 10
  • The Value of Lead Nurturing Marketo ROI Results Fast Leads Slow Leads Total Leads Cost / Lead ( MQL <1 mo) (MQL >1 mo) (MQL) (MQL) Without Nurturing 20% 6.67% 26.67% $206.00 With Nurturing 20% 20.0% 40.0% $137.50 Source: Actual Marketo data; assumes $55 per prospect Results: 50% more marketing qualified leads from lead nurturing © 2010 Marketo, Inc. Page 11
  • Lead Nurturing Basics Buying Stages • Early (Pre-MQL) • Mid (MQL) • Late (Opportunity) • Customer Content 1. Map your existing content 2. Blank cells determine your content roadmap 3. Short content is good! (YouTube approach) 4. Test and optimize 5. Start small, think big and adapt quickly Buying Profiles • Industry: 82% • Role: 67% • Company Size: 49% • Geography: 29% © 2010 Marketo, Inc. Page 12
  • Other Kinds of Lead Nurturing Accelerators  Move prospects along the buying cycle faster with relevant “nudges” triggered by specific behaviors Recycled  Key driver of messaging in active recycling is the reason for disqualification  Limit number of reasons  Timeframe of months or quarters Reconstituted  AKA “Wake the Dead”  Great place to experiment Source: SiriusDecisions © 2010 Marketo, Inc. Page 13
  • The ROI of Lead Scoring How Easy Is it To Get Access to Information About Prioritizing Sales Efforts? 120% 100% 97% 80% 79% 72% 60% 50% Easy Hard 40% 20% 0% % Revenue Plan Achieved % Reps Meeting/Beating Quota Source: CSO Insights © 2010 Marketo, Inc. Page 14
  • Sample Scoring Rules Demographics:  Up to 30 points based on demographics  -20 to 0 based on inferred country Latent Buying Behavior:  Attend webinar: +5  Download thought leadership: +3  Visit any webpage : +1  Visit careers pages: -10 Active Buying Behavior:  Install AppExchange app: +15  Download Marketo reviews: +12  Search for “Marketo”: +10  Visit pricing pages: +10  Download buyers guides: +8  Visit website 2X in one week: +5  Watch demos: +5 each No activity in one month:  Score > 30: -15 points  Score 0 to 30: -5 points © 2010 Marketo, Inc. Page 15
  • The Importance of Timely Response © 2010 Marketo, Inc. Page 16
  • Lead Follow-up Process © 2010 Marketo, Inc. Page 17
  • No Lead Left Behind Trigger: New Status = Sales Lead … plus 7 more steps © 2010 Marketo, Inc. Marketo Proprietary and Confidential Page 18
  • Sales Insights © 2010 Marketo, Inc. Page 19
  • © 2010 Marketo, Inc. Page 20
  • Marketo Revenue Cycle Model New Customers 65% of all deals ($5,800) follow this model Lead Type Variants 34.5% 8.4% of leads / • Source Opportunities 1.4 leads per opty • Channel ($2,000) = 6% lead to opty • Division • Size 46% of prospects Leads eventually become a lead ($120) 3.0% / month 75% 28% Paid Active Prospect Names ($33) Prospects Database 2/3 paid ($83) 40% 1/3 unpaid ($0) Unpaid ($55 average) 72% Names 15% Inactive (Last 6 ($0) Months) © 2010 Marketo, Inc. Page 21
  • Demand Gen Metrics Dashboard Prospect Lead Opportunity Win © 2010 Marketo, Inc. Marketo Confidential and Proprietary Page 22
  • Marketing Forecasts Prospects Q2 2010 Q3 2010 Q4 2010 Plan 6,635 7,814 9,150 May 7,000 7,520 Jun 8,380 8,500 Jul 8,500 Aug 8,800 10,000 Leads Apr May Jun Jul Aug Sep Oct Nov Plan 760 800 825 1000 1069 1374 1434 1512 Mar 810 850 875 Apr 685 850 875 925 May 818 875 900 915 Jun 909 1000 1069 1374 Jul 924 1200 1374 1434 Aug 1280 1414 1450 1512 Opps Apr May Jun Jul Aug Sep Oct Nov Plan 67 81 82 90 94 100 104 109 Apr 83 83 90 93 May 81 88 90 94 Jun 91 93 95 101 Jul 70 90 100 103 Aug 92 101 104 109 Plan Forecast Actual © 2010 Marketo, Inc. Marketo Confidential and Proprietary Page 23
  • Key Takeaways 1. Focus on the entire revenue cycle, not just the top of the funnel 2. Don’t contact a lead before its time 3. Grow revenue by making sales more productive, not just by hiring more reps 4. Use forecasting to turn marketing from a cost center into a revenue driver Page 24
  • Contact Me JON MILLER Marketo, Inc. VP Marketing 901 Mariners Island Suite 200 jon@marketo.com San Mateo, CA 94404 @jonmiller2 Direct: +1.650.376-2310 blog.marketo.com www.marketo.com Download the “Definitive Guide to Lead Nurturing” www.marketo.com/dg2-lead-nurturing © 2010 Marketo, Inc. Page 25
  • © 2010 Marketo, Inc.