Case Study: Using Social Media and Lead Nurturing for Demand Generation - Marketo

Using Social Media and Lead Nurturing for Demand Generation:Marketo Secret Sauce Case Study
Jon Miller, VP Marketing and Co-Founder, MarketoAuthor of Modern B2B Marketing blog
© 2010 Marketo, Inc.

Who Is Marketo?
Marketing automation & sales effectiveness (SaaS)
575+ mid-market and enterprise customers
Tech, business services, manufacturing, finance, etc.
Three years old, 100 employees
Highly efficient revenue cycle:
65% of revenue directly sourced by marketing
Sales reps carry $1.2M annual recurring revenue quota
© 2009 Marketo, Inc. Marketo Proprietary and Confidential

Marketo’s Revenue Cycle
MQL
Prospect & Recycled
SQL
SAL
Cust-omer
Sales Lead
Oppor-tunity
All Names
Lead
Engaged
Awareness
Nurturing Database
Marketing
SDR
Sales

180+ Resources w/Social Sharing

Generating Traffic (1 Month)

When To Ask For Registration?
Early StageThought leadership and best practices to build brand and awareness
Example: SiriusDecisions
NO
Middle StageBuyers guides, RFP templates and industry information to help structure research
YES
Late StageCompany-specific information to help evaluate and reaffirm selection
YES

Landing Page Optimization, A/B Testing

Progressive Profiling

Marketo Prospect Generation 1H2010

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
Prospect & Recycled
SQL
SAL
Lead Nurturing
Sales Lead
Oppor-tunity
All Names
Engaged
Lead
“The art of maintaining permission to stay in front of your buyers as they educate themselves”

The Value of Lead Nurturing
Marketo ROI Results
Source: Actual Marketo data; assumes $55 per prospect
3x!
Results: 50% more marketing qualified leads from lead nurturing

Personalized Sales Follow-ups

Content Mapping
Buying Stages
Early (Pre-MQL)
Mid (MQL)
Late (Opportunity)
Customer
Content
Map your existing content
Blank cells determine your content roadmap
Short content is good! (YouTube approach)
Test and optimize
Start small, think big and adapt quickly
Buying Profiles
Industry: 82%
Role: 67%
Company Size: 49%
Geography: 29%

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

The ROI of Lead Scoring
How Easy Is it To Get Access to Information About Prioritizing Sales Efforts?
Source: CSO Insights

Sample Scoring Rules
Demographics:
30 points based on manual Prospect review
0-8 points based on title
-20 to 0 based on inferred country
Source and Offer:
Website lead source: + 5
Thought leadership offer: -5
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
Visit website 2X in one week: +8
Download buyers guides: +8
Watch demos: +5 each
Search for “Marketo”: +5
Visit pricing pages: +5
No activity in one month:
Score > 30: -15 points
Score 0 to 30: -5 points

Lead Follow-Up Processes
Inbound Calls, “Contact Us” forms, and qualified Free Trial requests get <5 minute follow-up.

No Lead Left Behind
Trigger: New Status = Sales Lead
… plus 7 more steps

Best Bets Dashboard

Sales Insight

Marketo Revenue Cycle Model
65% of all deals follow this model
New Customers($5,619)
Lead Type Variants
Source
Channel
Division
Size
34.5%
10% of leads / 1.4 leads per opty
= 7.1 % lead to opty
Opportunities($1,937)
40% of prospects eventually become a lead
Leads($137.50)
4.0% / month
75%
Active Prospect Database
20%
Paid Names($29.33)
Prospects¾ paid ($73)¼ unpaid ($0)
($55 average)
40%
80%
UnpaidNames
($0)
10%
Inactive (Last 6 Months)

Conversion Rates over Time
Win
Prospect
Lead
Opportunity
All numbers three month averages (except Opportunity Sources)

Marketing Forecast

Key Takeaways
Focus on the entire revenue cycle, not just the top of the funnel
Don’t contact a lead before its time
Make sure prospects keep moving and don’t sit idle
Understand latent buying and active buying and follow-up accordingly
Use forecasting to turn marketing from a cost center into a revenue driver

Marketo, Inc.
901 Mariners Island
Suite 200
San Mateo, CA 94404
JON MILLER
VP Marketing
jon@marketo.com
@jonmiller2
Direct: +1.650.376-2310
blog.marketo.com
www.marketo.com
Contact Me
Download the “Definitive Guide to Lead Nurturing”
www.marketo.com/dg2-lead-nurturing

Metrics: Prospect to Lead Transition
39.3% after 2 years
Average time to convert: 4.1 months
40% long-term
Assumptions
10,000 initial prospects
20% conversion new prospects (month 1)
4.0% conversion existing prospects (subsequent months)
10% go inactive each month
36.2% after 1 year

Authoritative Thought Leadership

Final Email
Please let me know your interest level in Marketo’s lead management solution on a scale of 1-4

Awareness
8,900 a month
2,500 a month
Goal: Be Everywhere!

Forms: Ask Only What You Really Need
© 2008 Marketo, Inc. All rights reserved.
Short Form (5 fields)
Conversion rate: 13.4%
Cost per: $31.24
Medium Form (7 fields)
Cost per: $34.94
Long Form (9 fields)
Cost per: $41.90

Do Tech Buyers Provide Accurate Information During Registration?

60 Week Nurture Process
A: Early StageThought leadership and best practices to build brand and awareness
B: Middle StageBuyers guides, RFP templates and industry information to help structure research
C: Late StageCompany-specific information to help evaluate and reaffirm selection
Accelerators move people from A to B and B to C based on downloads and opportunity stage

Source Tells You Much About Quality
Search is the best performing “paid” tactic
Invest in word of mouth, awareness, buzz

When To Ask For Registration?
Early StageThought leadership and best practices to build brand and awareness
Example: SiriusDecisions
NO
Middle StageBuyers guides, RFP templates and industry information to help structure research
YES
Late StageCompany-specific information to help evaluate and reaffirm selection
YES

The Importance of Timely Response

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