The Path To A Killer Online Marketing Strategy
 

The Path To A Killer Online Marketing Strategy

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Jon Miller (VP of Marketing and Co-Founder, Marketo) presents best practices for an online marketing strategy that will generate leads, create brand awareness, and drive revenue.

Jon Miller (VP of Marketing and Co-Founder, Marketo) presents best practices for an online marketing strategy that will generate leads, create brand awareness, and drive revenue.

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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… 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.
  • Requires new ways of marketing – engage with buyers earlier, maintain relations until ready to buy. Requires a move away from traditional. Digital up to 29.2% from 26.2% last yearContent marketing and social.
  • 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
  • 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
  • Map content to the buying stage {keep it short}
  • OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
  • Social marketing is a broad term. So let’s step back and look at the landscape – in context of Marketing Cloud.I’ll bet many of you in the audience are already using social enterprise technologies to help you create social profiles for customers, provide a private social channel for collaboration with colleagues and partners and add a social component to customer interactions. You may also bedoing social listening. There are great companies out there that listen to millions of conversations taking place across social channels to understand perceptions around your brand, your competition, or your industry, and then provide tools to respondMany of you have already hung up a shingle in the social world and are using tools to managing your presence there. (BuddyMedia)You’re probably any of you are also using social engagement and publishing tools to help you schedule status updates and tweets, and track how your followers engage with your message. (Hootsuite)What we heard from many of you was “how do I integrate social into my campaign efforts.”With Marketo Social Marketing, you can take those offerings to yet another level.
  • We’ve also had good early success at TOP of funnel with Promoted Tweets. Especially good to tie to events like Cloudforce.Lots of prospects; still too early to tell if they turn to Opps and Revenue.Two offers every two weeks with three different tweets focusing on fifteen keywords and five countries.
  • The casual, “social” nature of socialis perfect for nurturing leads. Rather than the stuffy, uptight, or high-pressure reputation that haunts sales departments, social marketing allows you to build a relationship with qualified prospects in an informal, personable, low-pressure way.But you need your posts to show up! Explain Edgerank…Weight - different types of posts receive different points off the bat. In order from most to least points.Videos and photos – VISUAL A MUSTPosts that link to other Facebook pagesPosts that link to other websitesA plain old post gets the least number of pointsTHEN Shares, Comments, LikesIn this actual feed from one of our Prospects, Marketo’s posts shows highest b/c she likes our stuff, comments = high affinity.So important to keep your Affinity high, which can be measured by ‘people talking about this’How do we keep affinity high?
  • 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… 36% of our fans saw this organically (~9K)Paid added almost 35K views! …. I’ll show ROI on this shortly
  • If you go to Slideshare, watch our presos…. At end, you get promoted to download.If you need, lead goes to Marketo over API.This is very successful… not NEW names (mostly we know the people), but has a big impact on multi-touch attribution
  • We have good success and ROI with the “free” stuff on LinkedIn. LinkedIn offers a variety of advertising options, including a self-service option for small display ads, as well as more complex offerings including rich-media display ads, targeted InMail, polls, and more. LinkedIn offers an amazing ability to target specific B2B buyers, including targeting by Job Title and Job Function, Seniority (e.g. “Vice President” or “Owners”), Industry, Geography, and Company Size – as well as the ability to target specific companies and perhaps most powerfully, membership in specific LinkedIn Groups. (Learn more about LinkedIn adverting options at http://marketing.linkedin.com/.) Places for adsProfile Page - when users view the profile of other LinkedIn membersHome Page -the page that users see when they log in to LinkedInInbox -the page where users see messages and invitations to connectSearch Results Page -the page that results when you search for a member by nameGroups -on pages in LinkedIn Groups
  • Don’t have time to go over other networks, but high-level:YouTube: optimize for search since it’s the #2 search engineGoogle+: Use Google Authorship to help enhance our SEO rankingsPinterest: plays great with our focus on visual content
  • HERE IS THE MONEY SLIDE! (Literally and figuratively.)Summarizes our ROI… 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
  • See customer preso
  • Make every sharing trackable, then testable and optimize over time
  • These are our REAL influencers.Some Marketo employees, but also others notThis is OUR Klout score
  • See customer preso
  • OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
  • 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
  • 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).
  • Lead nurturing is a complicated topic and it could cover an entire presentation – in fact, I wrote a book on it (get it at bit.ly/DGtoLN). But if I had to summarize into one word, it’s relevance. If your lead nurturing is not relevant, your prospects will opt-out… or more likely emotionally opt-out and just stop paying attention.To use, there are 3 dimensions to relevance.First is the buying stage… don’t overwhelm early stage buyers with content about you, since they don’t care. Can use 411 approach here as well. But mid and late stage buyers are hungry for information about you and your solutions, so change up the mix.Second is the Persona… Your nurturing needs to speak to the needs and issues of the buyer, so we have three tracks for our three main personas: Molly the Marketer, Sam the Sales Manager, and Jack the Executive.Finally, within each persona, we customize the specific emails and landing using Dynamic Content to make each communication more relevant. This includes Industry-specific information, which is super-important especially for pragmatist buyers; size specific information, e.g. we send enterprise examples to enterprise clients; localization, e.g. our EMEA emails have EMEA contact information, and so on.The result of this: 14% open, 12% click to open rate. [Click not always metric for nurture success!] Good, not amazing.[Continuous testing over a 6 month period = Achieved up to 23% increase in open rates and 37% increase in clicks, decreased unsubscribes]Feeling overwhelmed? Think big, start small, and move quickly – then keep ahead of the drip. Add tracks as you go.
  • Brings us to lead scoring… also a complicated topic… also wrote a book. I don’t have a single word to sum it all up, but I do have a matrix. Note: worked at BCG – lots of 2X2 matrices in this section.Fit vs interest == if only focus on who you are interested in, you may be the sad guy in high school who wonders why the head cheerleader won’t go out with him… you need to pay attention to who’s interested in you. At Marketo, we keep our forms short, and tend to trust the info we can infer more than what someone tells us… For Fit, we focus primarily on data append using Reachforce and Data.com to figure out industry and company size. For interest, we trust behaviors…
  • Step 1: Important to track all touches
  • Impact of multi-touch

The Path To A Killer Online Marketing Strategy The Path To A Killer Online Marketing Strategy Presentation Transcript

  • The Path To A Killer Online Marketing Strategy Jon Miller, VP Marketing and Co-Founder Executive Editor of Modern B2B Marketing blog @jonmiller© 2012 Marketo, Inc.
  • © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • INFORMATIONABUNDANCE © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Content Marketing for Brand & Like Brand awareness Brand preference Risk reduction Blogs Resource Center Definitive Guides Webinars Video © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Visual Content Helps Stand Out eBook Interactive Infographic 17,000 145,000 views views Hits and Long-Tail Content © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Types of Content Early Stage Thought leadership and Research data, funny videos, entertainment to build curated lists, infographics, brand and awareness thought leadership Middle buyers find Tools that help Stage Buying guides, RFP templates, you when they are looking ROI calculators, whitepapers, for solutions analyst reports, webinars Late Stage Company-specific Pricing, demos, services information to help evaluate information, 3rd party reviews, and reaffirm selection customer case studies © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Problems With Self-Submitted Data © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Short Forms Outperform Long Forms Short (5) Medium (7) Long (9) Conversion: 13.4% Conversion: 12.0% Conversion: 10.0% Cost per: $31.24 Cost per: $34.94 Cost per: $41.90 © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Test, But Don’t Over Test! Number of Tests T = number of tests W = weeks for test R = responses / conversions per day www.marketo.com/calculator © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Social MarketingPaid and Organic
  • Social Marketing in Context Social Social Enterprise Listening Page Social Social Management Campaigns Engagement © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Twitter Promoted Tweets • Combination of search & timeline campaigns • $109k invested • 2,995 Prospects • $ per Prospect: $37 • $290k pipeline to date © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Facebook and EdgeRank • Time Decay • Weight • Affinity © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Facebook Timeline Campaigns © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Facebook Display Advertising © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Slideshare • $5k invested • 2,765 names • 57 new prospects • $ per Prospect: $94 • $148k pipeline to date © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • LinkedIn Definitely • Build a Company Page and Drive Followers • Participate in Groups • Share Status Updates and Links • Answer Questions Consider • Paid Advertising with Amazing Targeting • Marketo’s initial ROI not attractive © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Also © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • ROI On Social Advertising: Tale of Two Types • Facebook and LinkedIn display ads not effective (yet) • Twitter drove many Prospects, especially early on, but slow to convert to Lead • Facebook memes are working great (but still new) • Slideshare great for acceleration (not lead gen), but smaller Source: Marketo Revenue Cycle Analytics © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Test & Tune With Social Funnel Metrics © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Making Every Campaign Social Social Lift Social Lift Reach & Engagement Social Lift Social Lift Social Lift Social Lift Website Landing Email Facebook Events Pages Online Ads Pages © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Other Lead Generation
  • Marketo Prospect Generation: Last 12 Months Source Prospects Invest- % Lead Velocity Opp Index ment 12 mo (Days) Lead to 3rd Party Email Blast 19,039 $43 30% 147 0.2 Trade Show 12,619 $53 29% 153 1.0 Virtual Trade Show 4,120 $40 32% 213 0.8 Paid Webinar 3,849 $63 36% 156 0.4 Pay-Per-Click (PPC) 2,999 $171 48% 88 0.8 Content Syndication 2,302 $126 40% 178 0.2 AppExchange 1,306 $26 80% 26 0.9 Website/Inbound 3,352 57% 75 2.8 Referral / WOM 179 36% 158 10.9 Sales Prospecting 440 28% 108 3.6 Source: Marketo Revenue Cycle Analytics, 12 months ending 30 April 2012 © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Middle of the Funnel
  • AT THE DANCEBut who is dancing? © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Processes at scale © 2012#RevEngine Marketo, Inc. @JonMiller Marketo Proprietary and Confidential
  • Lead Nurturing Relevance 1. BUYING STAGES 2. PERSONA • Early (Pre-MQL) • Molly Marketer • Mid (MQL) • Sam Sales • Late (Opportunity) • Jack Executive • Customer 4-1-1 cadence for content 3. DYNAMIC CUSTOMIZATION • Industry Wrappers • Size Specific Examples • Localization Get The “Definitive Guide to Lead Nurturing” http://bit.ly/DGtoLN © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • A Framework for Lead Scoring Explicit Inferred What the prospect tells you What you observe or infer Fit • Data append Are you inter- • Demographics (title) • Data quality ested in them? • Firmographics (size) • Corporate email Positive + • Geo Location Negative Factors • Behaviors (engagement) Interest • BANT • Social activity Are they inter- ested in you? • “Act Now” behaviors Get The “Definitive Guide to Lead Scoring” http://bit.ly/DGtoLS © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Prioritizing Sales Time • Free Trial form • Viewed weekly live demo • Contact Me form • Viewed deep dive demo • Visited the detailed • Viewed demo on AppExchange pricing page • Request live demo © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Stars and Flames show priority Full list of Interesting Moments © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Measuring Online Marketing’sImpact on Revenue
  • Why Measuring Programs is Hard • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people • Tyranny of time. The money you invest today will have an uncertain impact at an uncertain point in the future © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Example: Multi-Touch Attribution Screenshot: Marketo Revenue Cycle Analytics © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • More Key Takeaways 1. Optimize Facebook EdgeRank to nurture relationships socially 2. Authentic social interaction drives more ROI than paid ads 3. Leverage “peer-to-peer” influence to give every campaign a social boost @jonmiller 4. Most leads are not “ready-to- dance” – nurture relationships over time 5. To measure ROI of social, you need to track all interactions with an account © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • Additional Resources The Definitive Guide to Social Marketing http://bit.ly/DGtoSM The Definitive Guide to Marketing Metrics & ROI http://bit.ly/DG2MM Personalized Benchmark on Email Marketing http://www.marketo.com/benchmark © 2012#RevEngine Marketo, Inc. Marketo Proprietary and Confidential
  • & Jon Miller @jonmillerjon@marketo.com