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Marketing Automation: Conquering the Questions in 2014


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Despite its ubiquity in the B2B vernacular, “Marketing Automation” hasn't been adopted by as many companies as you’d think. According to our recent survey, about 50% of companies still haven’t tested the waters—probably because there are so many questions surrounding this technology. Whether vague or specific, you surely have questions, too.

Jennifer Stoll, Senior Strategic Planner at Pepper and Holger Schulze, Online Community Manager, dissect the survey findings and provide actionable advice on your toughest challenges in marketing automation readiness and maturity.

Published in: Marketing, Business, Technology

Marketing Automation: Conquering the Questions in 2014

  1. 1. Marketing Automation: Conquering the Questions in 2014
  2. 2. A COUPLE OF HOUSEKEEPING RULES 1 We will send out the slides and a recording of the webinar within 48 hours 2 If you have questions, add them into the chat window. We’ll address as many as possible at the end during the Q&A. © Pepper, 2/5/2014, Slide 2
  3. 3. Holger Schulze Online Community Manager Holger Schulze is a B2B technology marketing executive and online community builder, managing online communities with over 300,000 members, including the B2B Technology Marketing Community and the Information Security Community on LinkedIn. Jennifer Stoll Senior Strategic Planner With more than 14 years of client-side and marketing experience, Jennifer has developed contact strategies in industries including technology, education and CPG. An expert in building multi-channel demand generation programs for both B2B and B2C, Jennifer merges theoretical planning with hands-on experience as a marketing automation expert focusing on lead scoring, closed loop reporting and advanced segmentation. © Pepper, 2/5/2014, Slide 3
  4. 4. © Pepper, 2/5/2014, Slide 4 EXPLORING THE DATA Security Level: Confidential
  5. 5. 50,000 B2B marketers invited 700 respondents Benchmark reports developed
  6. 6. WHAT IS YOUR COMPANY’S OVERALL LEVEL OF MARKETING AUTOMATION? 60% 53% Over half of the respondents are using marketing automation Another 17% are currently evaluating or considering marketing automation 30% 17% 13% 7% 6% 2% 1% 1% Not sure Abandoned marketing automation Other (please specify) 0% Currently using or applying marketing automation © Pepper GmbH, 2/5/2014, Slide 6 Evaluating or considering marketing automation Aware of the application and benefits of marketing automation, but not using it yet Not actively looking to implement marketing automation Not aware of the applications and benefits of marketing automation
  7. 7. BENEFITS Generating more and better leads Improved marketing productivity Improved conversion rates Improved response and engagement rates Improved segment targeting Shortened sales cycles 0 50 100 150 Of the people who currently use marketing automation, the benefits align to strengthening their demand generation efforts © Pepper GmbH, 2/5/2014, Slide 7 200 250
  8. 8. SPENDING The momentum is not slowing down. Of those who currently use marketing automation, 96% plan to spend as much or more this year © Pepper, 2/5/2014, Slide 8
  9. 9. BUDGET 63% of companies dedicate 10-29% of their marketing budget to marketing automation © Pepper, 2/5/2014, Slide 9
  10. 10. TIME 75% of organizations reported they implemented their marketing automation systems in less than 6 months © Pepper, 2/5/2014, Slide 10
  11. 11. SYSTEM IMPLEMENTED Eloqua (Oracle) Marketo over indexes in usage with small to mid-size companies, while Eloqua is the more prominent system with large enterprises © Pepper, 2/5/2014, Slide 11 Hubspot is the leading platform in usage for very small companies
  12. 12. OBSTACLES 1 2 3 4 5 6 7 8 9 10 © Pepper, 2/5/2014, Slide 12 Budget constraints Lack of skilled employees Poor contact database quality Lack of content Complexity of automation software Lack of feedback from sales on leads Poor integration with sales and marketing Poor infrastructure to collect/analyze data Compatibility and interoperability issues Lack of performance standards
  13. 13. SIZE MATTERS For smaller companies, budget and cost of ownership had the most impact on evaluating platforms and vendors. Budget constraints top the list of obstacles to more effective use in smaller organizations © Pepper, 2/5/2014, Slide 13 Mid-size to large companies focused on product integration and analytics/reporting functionality when making a decision. These organizations struggle more with lack of skilled employees and poor contact database quality.
  14. 14. MATURITY & METRICS Length of time using marketing automation Response metrics Activity metrics (e.g. number of emails sent) (e.g. open rate, click through rate) Efficiency metrics (e.g. cost per lead, close rates) Value metrics (e.g. revenue /pipeline value generated, etc.) Less than 1 year 13% 39% 24% 24% 1 - 2 years 13% 30% 27% 31% 3 - 5 years 13% 30% 27% 30% More than 5 years 13% 28% 27% 32% Almost 40% of companies who have been using marketing automation for less than a year rank response metrics as a top way they measure ROI. This figure declines while the more advanced and complicated metrics of “Value” increase in importance © Pepper, 2/5/2014, Slide 14
  15. 15. This data is great – but what does it mean to me? © Pepper, 2/5/2014, Slide 15
  16. 16. ANSWERING THE QUESTIONS © Pepper, 2/5/2014, Slide 16 Security Level: Confidential
  17. 17. FROM QUESTIONS TO INSIGHTS why when does this matter to you? is the right time to implement? who is responsible and who needs to be involved? what do you need to know to get started and mature? © Pepper, 2/5/2014, Slide 17
  18. 18. WHY: BUYERS ARE MORE IN CONTROL THAN EVER PAST Buyer interacts with vendor Buyer interacts with vendor TODAY 58-70% of the buying process is completed before talking to a vendor *SAVO GROUP RESEARCH STUDY, 2012 © Pepper, 2/5/2014, Slide 18
  19. 19. WHY: NURTURING ALONG THE LIFECYCLE Leads Interest Prospects Research Leads LEAD GENERATION © Pepper, 2/5/2014, Slide 19 Evaluation Interested Leads Customers Selection Decision Experience Engagement Up/cross sell Qualified Leads Customers Customer satisfaction Customer loyalty Long-time preference LEAD NURTURING LEAD CONVERSION MAXIMIZING CUSTOMER VALUE
  20. 20. If 53% of companies are using the technology to better understand and optimize buyer behavior and 17% are looking into it, there’s a good chance your competitors are part of that majority. © Pepper, 2/5/2014, Slide 20
  22. 22. HOW: IDENTIFYING REQUIREMENTS Who’s going to manage it? What platform is best for us? We need marketing automation How does it integrate with existing systems? © Pepper, 2/5/2014, Slide 22 Where is the budget coming from?
  24. 24. WHO: POSSIBLE JOB ROLES The architect Integrates all data/systems, expert in CRM Implementation specialist Provides all technology support, expert/implements Process specialist Works on SLAs, sales enablement, process setup; works with sales to define needs Demand generation expert Analyzes market and creates strategy behind what’s implemented Estimates suggest 50% of new marketing hires will have technical backgrounds © Pepper, 2/5/2014, Slide 24
  25. 25. WHO: ALIGNING WITH SALES © Pepper GmbH, 2/5/2014, Slide 25
  26. 26. WHO: ALIGNING WITH SALES Responders | Suspect to Prospect Prospect Nurturing MQLs | Prospect to MQL SQLs | MQL to SQL Lead Nurturing SRLs | SQL TO SRL Opportunity Management Wins | SRL to Close Purchase Lead Scoring 1. Define and publish a common “language” for lead management (sales and marketing) 2. Train the heck out of everyone. Repeatedly. 3. Decide on a logical sales U-Turn process. 4. Partner w/ sales to enforce lead management and CRM behaviors 5. Create a shared lead scoring model
  27. 27. WHO: CIO  CMO The CIO will become more actively involved with the CMO in all marketing automation decisions that have cross-functional implications CMO © Pepper GmbH, 2/5/2014, Slide 27 CIO
  28. 28. WHAT: QUESTIONS TO ASK WHEN EVALUATING Pricing: • Does the vendor offer scalable pricing to match company growth? • What is the total cost of ownership? Multichannel capabilities: • Can you track and engage through social media? • Is it possible to link activity to the web? Integration of tools and databases: • Can it integrate tools such as Salesforce or Oracle CRM? • Are there additional efforts for programming? © Pepper GmbH, 2/5/2014, Slide 28
  29. 29. WHAT: QUESTIONS TO ASK WHEN EVALUATING Workflow management: • How much IT involvement do you need to launch? • How easy is it to personalize or develop assets? Reporting: • Is it easy to set up automated reports? Scoring: • Can you integrate a custom scoring model? • Is scoring available • based on title, role or areas of interest? Data management: • Can you easily define and select target groups? • Is the tool compliant with your IT and data security policies? © Pepper GmbH, 2/5/2014, Slide 29
  30. 30. Your system is implemented. Now what? © Pepper, 2/5/2014, Slide 30
  31. 31. GROW. EVOLVE. MATURE. © Pepper, 2/5/2014, Slide 31
  32. 32. BATCH AND BLAST TARGETED COMMUNICATION Past Customer •Inconsistent and infrequent communications experience •No triggers based on customer interaction Segments Content Time © Pepper GmbH, 2/5/2014, Slide 32 •Fragmented data & sporadic customer intelligence •Dispersed approach and limited support •Limited content repository for global/local content •Product / solution specific content versus customer thought leadership needs •Inconsistent touch strategies across segments and regions •No regularly scheduled touchpoints
  33. 33. BATCH AND BLAST TARGETED COMMUNICATION 1 2 3 What’s your game plan? Develop baseline activities Define personas, pain points and journey © Pepper, 2/5/2014, Slide 33
  34. 34. WHAT: DO YOU HAVE A GAME PLAN? 1 Campaigns to generate leads 2 Lifecycle communication in newsletters for loyalty & awareness 3 One-touch trigger and/or promotional communication to create action 4 Nurturing programs Multi-touch nurturing programs to develop leads © Pepper GmbH, 2/5/2014, Slide 34
  35. 35. WHAT: DEVELOPING A BASELINE Subscription and preference center © Pepper, 2/5/2014, Slide 35 Security Level: Confidential
  36. 36. WHAT: WELCOME CAMPAIGNS Where are they coming from? Entry via subscription center © Pepper, 2/5/2014, Slide 36 Entry via asset download
  37. 37. WHAT: BUILDING A CONTENT STRATEGY SUBJECT MATTER AUDIENCE DEVELOPMENT TEAM GOAL CREATION & REPURPOSING This is all easier said than done—but the first step is auditing what you have and what you can reuse © Pepper GmbH, 2/5/2014, Slide 37
  38. 38. WHAT: SPLIT CONTENT TO DEVELOP DERIVATIONS Infographics Video infographics Executive Summary Starting point: white papers per persona Social Media
  39. 39. WHAT : DISTRIBUTE THROUGH AUTOMATION © Pepper, 2/5/2014, Slide 39
  40. 40. WHAT: CONTENT STEPS TO SUCCESS 1. Do a content audit of everything. Can you update/repurpose older pieces? Can you break up larger pieces? Can you use something you thought wasn’t content (i.e., your own social media policy; old photos from your company’s beginnings) 2. Make it flexible year after year 3. Leverage content across audiences as much as possible 4. Develop a Content Matrix Asset Inventory 5. Have a clear purpose in what you’re communicating © Pepper GmbH, 2/5/2014, Slide 40
  41. 41. HOW: MEASURING IMPACT OF YOUR EFFORTS 75% ROI primary measure by 2015 50% feel sufficiently prepared IBM GLOBAL CMO STUDY © Pepper, 2/5/2014, Slide 41
  42. 42. HOW: FOCUS ON EVOLVING YOUR MEASUREMENT Measurement then • Email response metrics, like open rate, click through rate, etc. • Measurement now Volume based metrics are relevant, but don’t show the whole picture Revenue performance management (RPM) shows what had the greatest influence on the purchase decision by evaluating entire buyers journey • © Pepper, 2/5/2014, Slide 42 • Helps make intelligent decisions about where to spend money, and helps align marketing and sales even more
  43. 43. HOW: LOOK AT CONVERSION AT EVERY STAGE Optimized % Inquiries | Suspect to Prospect Using advance scoring, testing and nurturing techniques can double response rates Optimized contacts Average % Average contacts 4% 20,000 2% 10,000 6% 1,200 4% 400 65% 780 55% 220 55% 429 50% 110 30% 129 25% 28 MQLs | Prospect to MQL Implementing strong process has shown to increase rates up to 10% - the 6% here is conservative but reasonable SALs | MQL to SAL When marketing and sales properly align conversion rates can increase (on average) by at least 10% SQLs | SAL TO SQL Self-qualification and holistic lead nurturing for “not ready” leads can increase rates by 5-10% Wins | SQL to close Sales can focus on better qualified leads to close © Pepper, 2/5/2014, Slide 43
  44. 44. FINAL THOUGHTS Crawl, walk, run Marketing automation enables you—it doesn’t solve TALK IT OUT Know yourself You’re not alone—you can find what you need © Pepper GmbH, 2/5/2014, Slide 44
  45. 45. QUESTIONS? © Pepper, 2/5/2014, Slide 45 Security Level: Confidential
  46. 46. FIND US @PepperNA OR @PepperGlobal B2B Technology Marketing Group: © Pepper, 2/5/2014, Slide 46
  47. 47. Thank you The contents of this presentation are confidential and may not be disclosed to third parties. All content, ideas and tools within the offer are the copyrighted works of Pepper GmbH and subject to standard German copyright law. Any redistribution or reproduction of any materials herein is subject to approval by Pepper GmbH. Some pictures, illustrations and photos may be subject to copyright and trademark rights of third parties and have strictly been used for internal purposes only. All registered trademarks are the properties of their individual companies and organisations. All brand names are the intellectual property of their owners. All registered trademarks are acknowledged, even if they have not been expressly labelled as such. © Pepper, 2/5/2014, Slide 47 Security Level: Confidential