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B2B Marketing Technologies Demystified

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Learn how to make sense of two approaches to managing customer interaction and engagement: CRM (Customer Relationship Management) and MA (Marketing Automation). In this presentation, you will learn:
-101-level marketing technology definitions
-When and how to use what platform
-Best practices & success stories for marketing and sales teams

Published in: Marketing
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B2B Marketing Technologies Demystified

  1. 1. [Webinar] B2BMarketing Technologies Demystified
  2. 2. Agenda: 2 • Introductions • Marketing Technologies • Overview: What is what? • Parties Involved: Who does what? • Combining the Two: How and why? • Platforms: What does what? • Use Cases • Key Takeaways and Questions
  3. 3. Introductions: 3 Kyle Chandler Demand Generation Manager @ProjectChandler Alex Greger Email Marketing Specialist @AlexMGreger
  4. 4. Marketing Technologies: Whatiswhat? 4
  5. 5. What is what? The key goal in B2B marketing is proving what your marketing efforts produce in revenue, AKA what is your return on investment. With so many players in the game it is often very hard to determine this number without a very precise set of tools. These include: 5 Marketing Automation (MA), this is a platform leveraged by marketing teams to manage early funnel leads and prospective customers. This system allows for easy management of marketing programs, lead nurturing and marketing analytics. Customer Relationship Management (CRM), this is a platform leveraged by sales and executive teams to manage their prospective customers and current customer’s data. This system allows for full reporting on the business profitability and the ability to tie it back to individual customers and opportunities.
  6. 6. What is what? Additional key terms to know include: 6 • Sales Accepted Lead (SAL) • Opportunities • Contacts • Service Level Agreement (SLA) • Database Records • Sales Stages • Lead/Conversion • Marketing Engaged Lead (MEL) • Marketing Qualified Lead (MQL) • Lead Score • Lead Source • Sends Download Definitions: http://bit.ly/1NFW6pN
  7. 7. What is what? Common misconceptions about MAs and CRMs: 7 1. Marketing automation sells for you (e.g. no need for sales teams)! 2. Marketing automation is the same thing as content marketing! Wrong! – Marketing automation simplifies the process and allows to more easily implement repeatable tasks. Thus allowing your marketing and sales team to focus on the higher value tasks like talking to prospects and optimizing marketing messages and placements. Wrong! – Think of marketing automation as the tool that enables you to manage a content marketing strategy.
  8. 8. What is what? Common misconceptions about MAs and CRMs: 8 3. Customize your CRM system to make it fit your exact process! 4. Our marketing automation and CRM system are now integrated, we should connect our inventory system and webinar platform and etc.! Wrong-ish! – Yes you do want to align your CRM to mimic your sales process (i.e. sales stages, lead assignments, etc.). However do not bend the common rules of your CRM systems to work in ways it wasn’t designed. This only causes headaches down the road. Wrong! – Although we appreciate the eagerness you do not want to over complicate a process. Only integrate systems that need to speak to each other and weigh the investment to integrate to the time saved from manually importing/analyzing. Also, check for middle-ware that would allow for easier integrations - many CRM/MA platforms have app exchanges.
  9. 9. What is what? Common misconceptions about MAs and CRMs: 9 5. Marketing automation and CRMs are now one in the same (One vendor to rule them all… Lord of the rings anyone…?)! Wrong! – Although the market is beginning to consolidate this does not mean you must find one vendor to solve it all. When creating your short lists make sure to define your “must haves” and determine which provider can achieve those – even if they are two separate vendors.
  10. 10. 10 Marketing Technologies: PartiesInvolved:Whodoeswhat?
  11. 11. Parties Involved: Who does what? Sales and Executive Teams: 11 1. Focus their time primarily within the CRM system as this aligns with their direct roles of closing new business or customer management. 2. The key to their engagement within a CRM system is tracking their day to day activities with a prospect (e.g. calls, emails, meetings, etc.). 3. With this information you are able to track core business metrics and see trends on what tactics lead to a successful “close win” opportunity. 4. The sales team owns the process from accepting a MQL to new customer acquisition and then onboarding to your delivery or product team.
  12. 12. Parties Involved: Who does what? Sales and Executive Teams: 12 What is important for your sales and customer management teams to track and measure? Submit Your Answers in the Chat Window!
  13. 13. Parties Involved: Who does what? Sales and Executive Teams: 13 What is important to track and measure? 1. What sales tactics are working and what are not (e.g. tactic effectiveness)? 2. What is the average length of the sales process (e.g. timeline to close)? 3. What sales representatives are driving the highest volume of sales (e.g. team effectiveness)? 4. What time of year are products or services most in demand (e.g. seasonality)? 5. Which area’s do your sales teams perform best (e.g. geography)?
  14. 14. Parties Involved: Who does what? Marketing Teams: 14 1. Focus their time primarily within the MA system as this aligns with their direct roles of driving new potential prospects to engage in their brand. 2. MA systems allow your team to move away from “Random Acts of Marketing” and allows your team to have a clearly defined marketing process and strategy. 3. Always integrate your MA system and CRM system to allow you to track success from anonymous visitor to paying customer. 4. The marketing team commonly owns the process from the initial advertising impression all the way through to a MQL hand off to sales.
  15. 15. Parties Involved: Who does what? Marketing Teams: 15 What is important to track and measure for your marketing team? Submit Your Answers in the Chat Window!
  16. 16. Parties Involved: Who does what? Marketing Teams: 16 What is important to track and measure? 1. What marketing tactics are most successful at converting at the top of the funnel, middle of the funnel and bottom of the funnel (e.g. tactic effectiveness)? 2. What is the average length of the marketing process from anonymous to MQL (e.g. timeline to convert)? 3. What marketing programs are driving the most revenue and/or driving the highest ROI (e.g. program effectiveness)? 4. What messaging or content pieces drive the most engagement (e.g. brand engagement)? 5. What is your average lead flow and cost per acquisition (e.g. acquisition effectiveness)?
  17. 17. 17 Marketing Technologies: CombiningtheTwo:Howandwhy?
  18. 18. Combining the Two: How and why? Sales and Marketing Alignment - Not Disagreement! 18
  19. 19. Combining the Two: How and why? Sales and Marketing Alignment 19 1. The most important aspect of leveraging MA and CRM platforms is ensuring both the marketing and sales teams are aligned on the stages, definitions and processes. 2. The biggest area to focus on is not only the hand-off of when a lead goes from marketing to sales BUT also when a lead is sent back from sales to marketing. 3. You also want to define measurements of lead quality to allow a common language between both teams. This is commonly done through a lead score model. 4. This process is know as a service level agreement (SLA) Marketing Sales
  20. 20. Combining the Two: How and why? Sales and Marketing Alignment 20 What to Document in your SLA: • Marketing Stages • Sales Stages • Automated Transition Steps • Manual Transition Steps • Example Use Cases
  21. 21. Combining the Two: How and why? Sales and Marketing Alignment 21
  22. 22. Combining the Two: How and why? Technical Integration Best Practices 22 1. Research integrations ahead of time! Although companies may claim there is an integration between two software providers does not mean it is the best integration. Keep an eye for “out-of-the-box” integrations as opposed to “third party middle-ware”. 2. Data cleanliness is key! When integrating the two systems only map up what is needed. Extra data being transferred slows the process down and muddy-ups your views when in the systems. This also means ensuring you have taken data normalization in to account (e.g. Ohio vs Oh). 3. Use a staging or sandbox account to test! Before pushing anything to a production instance check and double check your mapped fields and synch! Once synched that means your data from both systems are combined and talking to one another. The more detailed you are the less clean up required (see #2).
  23. 23. 23 Marketing Technologies: Platforms:Whatdoeswhat?
  24. 24. Platforms: What does what? Top 4: Client Relationship Management (CRM) Platforms 24 Salesforce Industry leader positioned on ease of use from SMB to enterprise Microsoft Dynamics Key player positioned for customized solutions for the enterprise Sugar CRM Niche player, open source platform, common in SMB HubSpot CRM New to the market, targeted for small business, “one vendor” approach
  25. 25. 25 (CRM) Gartner Magic Quadrant Platforms Evaluation: 2015 Platforms: What does what?
  26. 26. Platforms: What does what? Top 4: Marketing Automation (MA) Platforms 26 Marketo Industry leader positioned on ease of use from mid to enterprise HubSpot Industry leader positioned on ease of use, common in SMB Act-On Niche player, technology focused, low cost, SMB to enterprise Pardot (Salesforce) Key player, technology focused, for SMB to enterprise
  27. 27. 27 (MA) Gartner Magic Quadrant Platforms Evaluation: 2015 Platforms: What does what?
  28. 28. 28 (MA) SiriusDecisions Platforms Evaluation: 2014 Platforms: What does what?
  29. 29. 29 Marketing Technologies: UseCases
  30. 30. Use Cases: Healthcare/Hospitals Goal: Patient acquisition and full lifecycle reporting 30 1. Situation: Desperate marketing platforms with no CRM utilized, using a fragmented approach for marketing campaigns. Most healthcare organizations do not utilize a CRM platform. The majority have their own private data warehouse because of privacy and HIPPA regulations. 2. Problem: Understanding how to migrate all the current campaigns to the new marketing automation platform. As well as creating an integration with the marketing automation platform because the private data warehouse does not have an “out-of-the-box” connection. Needed to see and be able to report on full lifecycle from both platforms. 3. Solution: We utilized the API available to build a custom connection that delivers data back and forth to allow full lifecycle reporting. Allowing holistic dashboards to be built that report from initial inquiry to filling out a form to becoming a patient instead.
  31. 31. Use Cases: Insurance Brokerage Goal: Sales and marketing alignment and greater visibility on analytics 31 1. Situation: Implementing a full demand generation strategy using a marketing automation and CRM platform for a sales and marketing team spread across 14 locations nationally. Creating an SLA for the marketing and sales team alignment, defining the lifecycle stages and how someone should transition from one stage to the next. 2. Problem: The process of aligning marketing and sales efforts in a holistic strategy. Implementing lifecycle model and creating the ongoing nurture programs to send personalized emails on a regular basis. 3. Solution: Fully aligned approach between sales and marketing for their acquisition strategy. Marketing automation and CRM are synched allowing sales members full insight on activities and engagement for a prospect or client. Allows marketing to see full lifecycle reporting to know what programs and tactics are returning the most revenue.
  32. 32. Key Takeaways
  33. 33. Key Takeaways: 33 1. Make sure sales and marketing team members are at the table and are collaborating on all aspects. This should not be a single meeting, you should have an iterative approach. 2. Create a common glossary to be used between your sales and marketing to allow you to speak the same language. 3. When you demo a software make sure to be blunt with your prospective vendor on your defined requirements. Make sure the vendor is able to walk you through specific business needs within your demo. 4. Clearly define goals and how your will measure these goals prior to first program launch. 5. Lock down your data input fields upfront to help set standards for data normalization. This goes a long way for reporting long-term.
  34. 34. Questions?

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