The Path to a Killer Marketing Strategy: Marketo's Secret Sauce for Revenue
 

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In this update to the popular webinar, "Secret Sauce for Demand Generation: How Marketo Nurtures, Scores and Accelerates Leads through the Revenue Cycle," Jon Miller, VP of Marketing and co-founder ...

In this update to the popular webinar, "Secret Sauce for Demand Generation: How Marketo Nurtures, Scores and Accelerates Leads through the Revenue Cycle," Jon Miller, VP of Marketing and co-founder of Marketo, will present actual examples of how Marketo’s content marketing, lead generation, and marketing automation strategies can help you generate up to 50% more qualified leads while simultaneously improving your sales productivity by 40%.

In addition, The Path to a Killer Marketing Strategy – Marketo’s Secret Sauce for Revenue will show you:

• How to use various lead generation channels (paid and organic) for greatest ROI delivery
• Practical steps for developing your own nurture and content campaigns
• Insights into use of forecasting to turn marketing from a cost center into a revenue driver
• How Marketo tracks awareness, shares best practices and closes more business faster

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  • Stalling techniques – ask people where they are logging in from, what do you see out window, etc.Then call people’s names out…, welcome “Joe from X”
  • 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… This is a recent phenomenon… The web as a mainstream solution is only 13 years old Over the next 4 years, we will generate more data than the entire previous history of the world Social creates even more sources of information Mobile is transforming not just our access to information – but how we interact with people. When did it become OK to look up info at the dinner table?All this access to information changes the power dynamics between buyer and sales people. Today buyers get most of their information themselves and don’t want to talk to a sales person until they are much further along. [Example: last time I bought a car.] SiriusDecisions says that 70% of the buying cycle has already taken place before buyers are willing to engage with a live sales person.
  • 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…. If you’ve seen this before, you’ll notice a few tweaks. Two key ideas:Inbound to drive leadsDevelop them until sales ready
  • 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.]
  • 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}
  • 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.
  • Step 1: Important to track all touches
  • Here we see what works for Marketo over the last 12 months to generate prospects. Explain columns…Inbound is 4.4X better than average Paid (e.g. tradeshow)… But 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. Paid Sources: AppExchange – 4.1x betterThis analysis has Virtual Tradeshow at 1.8xTradeshow – 0.8xPPC solid – 0.3x , Webinar – 0.3xOnline, Content syndication, 0.2xSocial Media – 0.1xRed velocity = need for NURTURE
  • 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!
  • See customer preso
  • We also use the fun content for lead gen. We found the magic formula for promoted posts to be this: Clever messaging, with a fun visual, all tied back to a strong offer or piece of content. The timing is important as well. (We have found that posting on Tuesday mornings tend to have the best results.)You can use Promoted Posts to dramatically increasethe # who view it… 20% of our fans saw this organically (~10K)Paid added 300Kviews!
  • 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).
  • 12% points higher revenue growth vs average17% more sales time spent selling
  • Active vs Latent Leads – very different follow-up. Active <5 min response. Latent, craft a personalized message.
  • OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
  • ModelNote Success Path and Detours; Inventory and SLAs
  • Google Analytics for Revenue
  • This brings us to a broader discussion about visual content.Unfortunately, so many companies are producing content that there is too much to read.  To ensure our content is consumed we have to find ways to make it more visual and more consumable by our readers… InfographicsCartoonsMemesPhotosVisual note-taking These can be very simple, and with the proper promotion will likely end up with more views than the actual written content piece you created.  Inbound Marketing Slideshare:136K views ofslidesharevs 10,600 for the whitepaper itself –12.5X+Plus612 Downloads, 421 New Names

The Path to a Killer Marketing Strategy: Marketo's Secret Sauce for Revenue Presentation Transcript

  • 1. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialThe Path to a Killer Marketing StrategyMarketo’s Secret Sauce for RevenueJon Miller, VP Marketing and Co-FounderExecutive Editor of Marketo Marketing Blog@jonmiller
  • 2. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialWe will start shortly.Meanwhile, how many words can you find? Each word must containthe central M and no letter can be used twice. The letters do not haveto be connected. Proper nouns are not allowed. There is at least onenine letter word.W I EH M LA E NThe Path To A KillerMarketing Strategy
  • 3. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialWe will start shortly.Meanwhile, how many words can you find? Each word must containthe central M and no letter can be used twice. The letters do not haveto be connected. Proper nouns are not allowed. There is at least onenine letter word.W I EH M LA E NThe Path To A KillerMarketing Strategy
  • 4. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialJon MillerSubscribe to blog.marketo.com@jonmiller1. Born in Ethiopia2. Can dislocate my thumbs at will3. Studied Physics at Harvard, captain of high-school debate team and newspaper staff4. My first child was born the same monththat we incorporated Marketo
  • 5. Page 5© 2013 Marketo, Inc. @jonmiller
  • 6. Page 6© 2013 Marketo, Inc. @jonmillerABUNDANCEINFORMATION
  • 7. Page 7© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleTOFU MOFUOpportunity CustomerContactedSalesLeadNurturingDatabaseBOFU
  • 8. Page 8© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseExposed to us via content, brand,or word of mouth
  • 9. Page 9© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseFeels a relationship and trustwith us
  • 10. Page 10© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseNames are just names.
  • 11. Page 11© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseMeaningful interaction with us
  • 12. Page 12© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseMeaningful interaction andqualified demographicsNurture until readyfor next step
  • 13. Page 13© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseLive human interaction with an SDR
  • 14. Page 14© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseQualified as sales-ready by SDR
  • 15. Page 15© 2013 Marketo, Inc. @jonmillerNameAwarenessFriendEngagedTargetMarketo’s Revenue CycleOpportunity CustomerContactedSalesLeadNurturingDatabaseAccepted and actively worked by sales
  • 16. Page 16© 2013 Marketo, Inc. @jonmillerProcesses at scale@JonMiller
  • 17. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialInbound and Content Marketing
  • 18. Page 18© 2013 Marketo, Inc. @jonmiller
  • 19. Page 19© 2013 Marketo, Inc. @jonmillerOne Way to Reduce Whisk#groan
  • 20. Page 20© 2013 Marketo, Inc. @jonmillerHow Much Content is Right For You?InvestmentReturn
  • 21. Page 21© 2013 Marketo, Inc. @jonmillerResearch, funny videos, curatedlists, infographics, thoughtleadership, definitive guidesTypes of ContentThought leadership andentertainment to buildbrand and awarenessTools that help buyers findyou when they are lookingfor solutionsCompany-specificinformation to help evaluateand reaffirm selectionBuying guides, RFP templates,ROI calculators, whitepapers,analyst reports, webinarsPricing, demos, servicesinformation, 3rd party reviews,customer case studiesEarly StageMiddle StageLate Stage
  • 22. Page 22© 2013 Marketo, Inc. @jonmillerStaffing for Content Creation• Appoint executive editor• Invest in content creators• Content consumers• Great communicators• Self-promotional• Distribute creation: internal+ community-generated• Create a content / socialpolicyMarketo invests10% of headcountinto contentwww.marketo.com/trust/social-media-policy.php
  • 23. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialPaid Programs
  • 24. Page 24© 2013 Marketo, Inc. @jonmillerWhy Measuring Programs is Hard• Multiple touches. Seven touchesneeded to convert a cold lead into asale• Multiple influencers. Typical buyingcommittee has 5-21 people• Tyranny of time. The money you investtoday will have an uncertain impact atan uncertain point in the future
  • 25. Page 25© 2013 Marketo, Inc. @jonmillerTrack All Touches Across PeopleScreenshot: Marketo Revenue Cycle Analytics
  • 26. Page 26© 2013 Marketo, Inc. @jonmillerWhat Generates Pipeline for Marketo?Source: Marketo Revenue Cycle Analytics, Jan 2013Nurture Email - CTANurture EmailPaid Online (PPC+Email)
  • 27. Page 27© 2013 Marketo, Inc. @jonmillerAutomation Enables Scale40+ Programs a MonthSet and Use Tokens IntegrationClonetoReuse25Best-PracticeTemplates
  • 28. Page 28© 2013 Marketo, Inc. @jonmillerReach&EngagementSocialLiftSocialLiftSocialLiftSocialLiftSocialLiftLandingPagesWebsite FacebookPagesOnline Ads EmailSocialLiftEventsMaking Every Campaign Social
  • 29. Page 29© 2013 Marketo, Inc. @jonmillerI’m going to make you anoffer you can’t refuse.Learn how to make themost out of every lead inyour database.Download The DefinitiveGuide to Lead Scoring:http://marketo.com/DG2LS
  • 30. Page 30© 2013 Marketo, Inc. @jonmiller
  • 31. Page 31© 2013 Marketo, Inc. @jonmillerTest & Tune With Social Funnel MetricsColoring BookResults• 289 participantsshared• 354 registereddownloads• 19.8% increase inregistereddownloads
  • 32. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialMiddle of the Funnel
  • 33. Page 33© 2013 Marketo, Inc. @jonmillerBut who is ready?You got them to the dance
  • 34. Page 34© 2013 Marketo, Inc. @jonmillerAllNamesTarget&RecycledEngagedLeadNurturingLead Nurturing Plugs the LeakBuilding relationships with qualified prospectsregardless of their timing to buy, with the goalof earning their business when they are ready.Con-tactedOpportunitySalesLeadMQLSALSQLMarketo Data:•% new Targets not Opp ready: 98%•Target to Opp time: 123 days avg.•% Slow Leads: 80%
  • 35. Page 35© 2013 Marketo, Inc. @jonmillerLead Nurturing RelevanceABCD1 23Stages1. BUYING STAGES• Early (4.1.1 cadence)• Mid and Late• Customer2. BUYING PROFILES• Industry: 82%• Role: 67%• Company Size: 49%• Geography: 29%Get The “Definitive Guide to Lead Nurturing”http://marketo.com/DG2LN
  • 36. Page 36© 2013 Marketo, Inc. @jonmillerLead Scoring Defined“Shared sales and marketing methodology for rankingleads in order to determine their sales readiness”Nurture Nurture DisqualifyPass toSalesPass toSalesFit Interest Buying Stage@jonmiller
  • 37. Page 37© 2013 Marketo, Inc. @jonmillerHard ROI of Lead ScoringWe passeverythingto salesand letthemcherrypickWe scoreleadsbased onfitWe scoreleadsbased onfit as wellas interest0%5%10%15%20%25%30%35% Revenue Growth vs PeersWe passeverythingto salesand letthemcherrypickWe scoreleadsbased onfitWe scoreleadsbased onfit as wellas interest0%10%20%30%40%50%60%70% Sales Time Spent SellingSource: Marketo Benchmark on Revenue Performance as of May 10, 2012 (N=300)@jonmiller
  • 38. Page 38© 2013 Marketo, Inc. @jonmillerBehavioral Scoring: Examples• Early stage content +3• Attend webinar: +5• Visit any webpage / blog : +1• Visit careers pages: -10• Pricing pages:• +10 regular, +15 detailed• Watch demos:• +5 overview, +10 detailed• Mid-stage content +8• Late-stage content +12• Searches for “Marketo” +8@jonmiller
  • 39. Page 39© 2013 Marketo, Inc. @jonmillerOne Way to Identify Marketing Qualified Leads21+Super-TargetLead Lead Lead9-20 Target Lead Lead2-8 Other Lead<2Engagement <20 20+ 45+ 90+Buying Intent <6 6+ 13+ 19+FitInterest@jonmiller
  • 40. Page 40© 2013 Marketo, Inc. @jonmillerSales Development Reps (SDRs) Pass TheBaton from Marketing to Sales• Faster, moreconsistent, & betterquality follow-up onleads• Better economics• The human touchenhances leadnurturing• Better data and moremetrics• Talent developmentfor salesBest place for dramatic improvements in businessperformance are handoffs between functions
  • 41. Page 41© 2013 Marketo, Inc. @jonmillerStars and Flames show priorityFull list of Interesting Moments
  • 42. © 2013 Marketo, Inc. Marketo Proprietary and ConfidentialRevenue Cycle Metrics
  • 43. Page 43© 2013 Marketo, Inc. @jonmillerRevenue Cycle ModelerScreenshot: Marketo Revenue Cycle Analytics
  • 44. Page 44© 2013 Marketo, Inc. @jonmillerFilter/Drill intodata, e.g. byProgram Type,Business Unit,Geography, etc.Key topic areas:• Balance (Reach)• Flow• Conversion• Velocity Trends over timeScreenshot: Marketo Revenue Cycle Analytics
  • 45. Page 45© 2013 Marketo, Inc. @jonmiller6%4%4%15%70%.2%.4%Blended New Customer ModelNewTargetsExistingActiveTargets(ProgramSuccess)SQLsNewOppsExistingOppsInbound/ProgramsWinsWinsExistingOutboundOppsNewOutboundOpps16,000150,0003602501,4403601109521NewNames25,000(600K DBTotal)60300$1,000/ea80%+ SQLsfrom database
  • 46. Page 46© 2013 Marketo, Inc. @jonmillerMarketing ForecastsGet The “Definitive Guide to Marketing Metrics & ROI”http://marketo.com/DG2MM
  • 47. Page 47© 2013 Marketo, Inc. @jonmillerKey Takeaways1. The way buyers buy has changedforever – the way we market andsell must change as well2. Publish / own content to help leadsfind you3. Leverage peer-to-peer influence togive every campaign a social boost4. Most leads are not “sales ready” –nurture relationships over time5. Use analytics to turn marketingfrom a cost center into a revenuedriver
  • 48. Page 48© 2013 Marketo, Inc. @jonmillerAdditional ResourcesThe Definitive Guide to Social Marketinghttp://marketo.com/DG2SMThe Definitive Guide to Marketing Metrics & ROIhttp://marketo.com/DG2MMThe Definitive Guide to Marketing Automationhttp://marketo.com/DG2MA
  • 49. Page 49© 2013 Marketo, Inc. @jonmillerMarketo, Inc.901 Mariners IslandSuite 200San Mateo, CA 94404Direct: +1.650.376-2310blog.marketo.comwww.marketo.comJON MILLERVP Marketingjon@marketo.com@jonmillerQuestion and Answer
  • 50. © 2013 Marketo, Inc. Marketo Proprietary and Confidential
  • 51. Page 51© 2013 Marketo, Inc. @jonmillerThe Rise of Visual Content328,000views!17,000viewseBook Interactive Infographic