Marketo’s “Secret Sauce”
Marketing in a Digital World: Case Study

© 2014 Marketo, Inc. Marketo Proprietary and Confidenti...
Page 2
© 2014 Marketo, Inc.

@jonmiller
Page 3
© 2014 Marketo, Inc.

@jonmiller
Page 4
© 2014 Marketo, Inc.

@jonmiller
• The Age of the Self-Directed
Buyer
• Define The Buying Journey
and Revenue Cycle
• Strategies for Top-of-Funnel
• Strate...
Page 6
© 2014 Marketo, Inc.

@jonmiller
INFORMATION

ABUNDANCE

Page 7
© 2014 Marketo, Inc.

@jonmiller
Source: The Corporate
Executive Board
Company, “The Digital
Evolution in B2B
Marketing,” 2012.

Page 8
© 2014 Marketo, Inc...
Define The Buying Journey
and Revenue Cycle
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Opportunity Customer

Nurturing
Database

TOFU
Page 10
© 2014 ...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Nurturing
Database

Exposed to us via
content, brand, or word ...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Nurturing
Database

Opportunity Customer

Feels a relationship...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Opportunity Customer

Nurturing
Database

Names are just names...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Opportunity Customer

Nurturing
Database

Meaningful interacti...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Opportunity Customer

Nurturing
Database

Qualified potential ...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Nurturing
Database

Opportunity Customer

Marketing qualified ...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Nurturing
Database

Opportunity Customer

Qualified as sales-r...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Nurturing
Database

Opportunity Customer

Accepted and activel...
Sounds great, but I
have millions of
contacts!
Page 19
© 2014 Marketo, Inc.

@jonmiller
Processes at scale

Page 20
© 2014 Marketo, Inc.

@jonmiller
Top of the Funnel
Earlyleadership and
Stage
Thought
enjoyable content to build
brand, awareness, and desire

Middle buyers find
Stage
Tools ...
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Page 24
© 2014 Marketo, Inc.

@jonmil...
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Page 25
© 2014 Marketo, Inc.

@jonmil...
Inbound creates the best leads by far:
high conversion, high velocity
Source: Marketo data, Marketo Revenue Cycle Analytic...
Page 27
© 2014 Marketo, Inc.

@jonmiller
Real-time Personalization

e.g. customized calls to action for
Customers

Page 28
© 2014 Marketo, Inc.

@jonmiller
But we also use a Portfolio
of programs
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all source...
Page 30
© 2014 Marketo, Inc.

@jonmiller
DATE:

Page 31
© 2014 Marketo, Inc.

JUNE
@jonmiller
Sponsored Email builds the
database, but low conversion
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not in...
Webinar, tradeshow, PPC, and virtual
tradeshow are top paid TOFU
Source: Marketo data, Marketo Revenue Cycle Analytics. Do...
Paid Social & Display Ad drive brand
and amplify inbound as well

Source: Marketo data, Marketo Revenue Cycle Analytics. D...
Middle of the Funnel
Page 36
© 2014 Marketo, Inc.

@jonmiller
Sales Ready
2%

Need More
Nurturing

50%

Disqualified
Page 37
© 2014 Marketo, Inc.

25%

25%
@jonmiller

Source: RainToda...
Average days to
Opportunity: 327 days
Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources....
Lead Nurturing:
Building relationships with
qualified prospects regardless
of their timing to buy
-- @jonmiller
Page 39
© ...
The ROI of Lead Nurturing
Marketo ROI Results
Fast Leads
( MQL <1 mo)
Without
Nurturing
With
Nurturing

Slow Leads
(MQL >1...
Relevance
Get the “Definitive Guide to Lead Nurturing”

marketo.com/DG2LN

Page 41
© 2014 Marketo, Inc.

@jonmiller
More Targeted Emails are More Relevant
Engagement Score

400
350
300
250
200

150
100
50

0
100

1000

10000

Email Send S...
1. BUYING STAGES
2 Early: Be a Better Marketer
•
3

• Mid: Why Marketing Automation
• Late: Why Marketo
• Customer: Succes...
Page 44
© 2014 Marketo, Inc.

@jonmiller
Dynamic Content

Industry, Geography, Com
pany Size, Customer vs.
Prospect, etc.
Page 45
© 2014 Marketo, Inc.

@jonmiller
The Key to Relevance is Behavioral Targeting
Top Tactics to Increase Email Engagement

Page 46
© 2014 Marketo, Inc.

@jonm...
Example: Topic of Interest Triggers
Email

Social
•
•
•
•
•

Content

Attends event
Downloads content
Click email
Fills ou...
Standard Nurture

Triggered Interests

Lift

Open %

21.7%

Open %

34.0%

57%

Click to Open %

23.4%

Click to Open %

3...
Scoring and Lead
Management
Lead Scoring Defined
“Shared sales and marketing methodology for ranking
leads in order to determine their sales readiness...
Demographic “Fit” Score
Positive Demographic Score
• e.g., Marketing Manager title, known CRM customer,
known competitive ...
Latent Behaviors
(Engagement)
•
•
•
•
•

Click email: +1
Visit webpage / blog: +1
Early stage content +3
Attend webinar: +...
Fit

One Way to Identify Marketing Qualified Leads

A
B
C
D

Lead

Lead

Lead

Lead
Lead

4
Page 53
© 2014 Marketo, Inc.

...
No Lead Left Behind: Service Level Agreements
Day 0
Day 1

If untouched, reminder

Day 2

If untouched, reminder cc boss

...
Stars and Flames
show priority

Full list of Interesting Moments
Page 55
© 2014 Marketo, Inc.

@jonmiller
Revenue Analytics
Page 57
© 2014 Marketo, Inc.

@jonmiller
Why Measuring Return is Hard

• Multiple touches.
Seven touches needed to
convert a cold lead into a sale

• Multiple infl...
Track All Touches Across People

Screenshot: Marketo Revenue Cycle Analytics
Page 59
© 2014 Marketo, Inc.

@jonmiller
Track All Touches Across People

Screenshot: Marketo Revenue Cycle Analytics
Page 60
© 2014 Marketo, Inc.

@jonmiller
Example: Multi-Touch Attribution
A deal worth $100,000 recently closed.
Three people were involved in the deal:
• Person A...
% Above
Min*

89%
76%
75%
41%
57%
73%
67%
Source: Marketo Revenue Cycle Analytics, Nov 2013
* Percentage

of all programs ...
% Above
Min*

89%
76%
75%
41%

(MT) Ratio = Pipeline / Investment
>10 is Great and <5 is Fail

Webinar = 54!, Tradeshow = ...
% Above
Min*

89%

% Programs with MT Ratio > 5
e.g. Content Syndication has good
average but 43% programs “fail”

76%
75%...
Sales
Lead

Lead

Target

Engaged

Name

Friend

Awareness

Opportunity Customer

Nurturing
Database

TOFU
Page 65
© 2014 ...
Revenue Cycle Modeler

Screenshot: Marketo Revenue Cycle Analytics
Page 66
© 2014 Marketo, Inc.

@jonmiller
Key topic areas:
• Balance (Reach)
• Flow
• Conversion
• Velocity

Filter/Drill into data, e.g.
by Program Type, Business
...
Use Metrics to Set & Justify Budgets

New Targets

15.3%

60,000

2.4%

23,000

131,000
Inventory Of
Active Targets

New M...
Get the “Definitive Guide to Marketing Metrics & ROI”

marketo.com/DG2MM
Page 69
© 2014 Marketo, Inc.

@jonmiller
Tweetable Takeaways
1. The way buyers buy has changed forever – the way
we market and sell must change as well
2. Define t...
Thank You

Jon Miller
@jonmiller
jon@marketo.com
BMA Phoenix Keynote-  Marketo's Jon Miller on Marketing in a Digital World - February 12, 2014
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BMA Phoenix Keynote- Marketo's Jon Miller on Marketing in a Digital World - February 12, 2014

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You’ve heard the buzz about marketing automation and how it can help maximize your marketing efforts. But do you really grasp its full potential? Get the inside scoop from Jon Miller (@jonmiller), VP Marketing and co-founder at Marketo, the leading marketing automation solution. He is a speaker and writer about marketing best practices, and is the author of multiple books including The Definitive Guides to Marketing Automation, Engaging Email Marketing, and Marketing Metrics & Analytics.

In this presentation, Jon shares an up-close and exciting look into the content marketing, lead generation, and marketing automation strategies that are driving Marketo’s growth, including:

Key trends driving marketing automation
Designing programs to be measurable
Key lessons to improve your performance, profitability, and credibility with  marketing metrics and analytics
How the experts at Marketo do it themselves, including actual examples of how Marketo’s smart and innovative programs produce eye-popping results, such as:
147% increase in nurture email click rates
50% gain in marketing qualified leads at 33% less cost per lead
40% improvement in sales productivity
BMA Phoenix is thrilled to welcome Jon to the Valley and to offer this unique opportunity for our members and friends to learn from a renowned leader in marketing automation, metrics and analytics.

Published in: Marketing
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BMA Phoenix Keynote- Marketo's Jon Miller on Marketing in a Digital World - February 12, 2014

  1. 1. Marketo’s “Secret Sauce” Marketing in a Digital World: Case Study © 2014 Marketo, Inc. Marketo Proprietary and Confidential
  2. 2. Page 2 © 2014 Marketo, Inc. @jonmiller
  3. 3. Page 3 © 2014 Marketo, Inc. @jonmiller
  4. 4. Page 4 © 2014 Marketo, Inc. @jonmiller
  5. 5. • The Age of the Self-Directed Buyer • Define The Buying Journey and Revenue Cycle • Strategies for Top-of-Funnel • Strategies for Middle-ofFunnel • The Right Metrics Page 5 © 2014 Marketo, Inc. @jonmiller
  6. 6. Page 6 © 2014 Marketo, Inc. @jonmiller
  7. 7. INFORMATION ABUNDANCE Page 7 © 2014 Marketo, Inc. @jonmiller
  8. 8. Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012. Page 8 © 2014 Marketo, Inc. @jonmiller
  9. 9. Define The Buying Journey and Revenue Cycle
  10. 10. Sales Lead Lead Target Engaged Name Friend Awareness Opportunity Customer Nurturing Database TOFU Page 10 © 2014 Marketo, Inc. MOFU @jonmiller BOFU
  11. 11. Sales Lead Lead Target Engaged Name Friend Awareness Nurturing Database Exposed to us via content, brand, or word of mouth Page 11 © 2014 Marketo, Inc. @jonmiller Opportunity Customer
  12. 12. Sales Lead Lead Target Engaged Name Friend Awareness Nurturing Database Opportunity Customer Feels a relationship and trust with us Page 12 © 2014 Marketo, Inc. @jonmiller
  13. 13. Sales Lead Lead Target Engaged Name Friend Awareness Opportunity Customer Nurturing Database Names are just names. Page 13 © 2014 Marketo, Inc. @jonmiller
  14. 14. Sales Lead Lead Target Engaged Name Friend Awareness Opportunity Customer Nurturing Database Meaningful interaction with us Page 14 © 2014 Marketo, Inc. @jonmiller
  15. 15. Sales Lead Lead Target Engaged Name Friend Awareness Opportunity Customer Nurturing Database Qualified potential customer Page 15 © 2014 Marketo, Inc. @jonmiller Nurture until ready for next step
  16. 16. Sales Lead Lead Target Engaged Name Friend Awareness Nurturing Database Opportunity Customer Marketing qualified lead (score > 100) – SDR reach-out Page 16 © 2014 Marketo, Inc. @jonmiller
  17. 17. Sales Lead Lead Target Engaged Name Friend Awareness Nurturing Database Opportunity Customer Qualified as sales-ready by Sales Development Rep (SDR) Page 17 © 2014 Marketo, Inc. @jonmiller
  18. 18. Sales Lead Lead Target Engaged Name Friend Awareness Nurturing Database Opportunity Customer Accepted and actively worked by sales: marketing quota attainment Page 18 © 2014 Marketo, Inc. @jonmiller
  19. 19. Sounds great, but I have millions of contacts! Page 19 © 2014 Marketo, Inc. @jonmiller
  20. 20. Processes at scale Page 20 © 2014 Marketo, Inc. @jonmiller
  21. 21. Top of the Funnel
  22. 22. Earlyleadership and Stage Thought enjoyable content to build brand, awareness, and desire Middle buyers find Stage Tools that help you when they are looking for solutions Late Stage Company-specific information to help evaluate and reaffirm selection Gated? Blog, e-books, research data, funny videos, curated lists, infographics, webinars NO Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports YES Pricing, demos, services information, 3rd party reviews, customer case studies MOSTLY NO
  23. 23. Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 24 © 2014 Marketo, Inc. @jonmiller
  24. 24. Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 25 © 2014 Marketo, Inc. @jonmiller
  25. 25. Inbound creates the best leads by far: high conversion, high velocity Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 26 © 2014 Marketo, Inc. @jonmiller
  26. 26. Page 27 © 2014 Marketo, Inc. @jonmiller
  27. 27. Real-time Personalization e.g. customized calls to action for Customers Page 28 © 2014 Marketo, Inc. @jonmiller
  28. 28. But we also use a Portfolio of programs Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 29 © 2014 Marketo, Inc. @jonmiller
  29. 29. Page 30 © 2014 Marketo, Inc. @jonmiller
  30. 30. DATE: Page 31 © 2014 Marketo, Inc. JUNE @jonmiller
  31. 31. Sponsored Email builds the database, but low conversion Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 32 © 2014 Marketo, Inc. @jonmiller
  32. 32. Webinar, tradeshow, PPC, and virtual tradeshow are top paid TOFU Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 33 © 2014 Marketo, Inc. @jonmiller
  33. 33. Paid Social & Display Ad drive brand and amplify inbound as well Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 34 © 2014 Marketo, Inc. @jonmiller
  34. 34. Middle of the Funnel
  35. 35. Page 36 © 2014 Marketo, Inc. @jonmiller
  36. 36. Sales Ready 2% Need More Nurturing 50% Disqualified Page 37 © 2014 Marketo, Inc. 25% 25% @jonmiller Source: RainToday
  37. 37. Average days to Opportunity: 327 days Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 38 © 2014 Marketo, Inc. @jonmiller
  38. 38. Lead Nurturing: Building relationships with qualified prospects regardless of their timing to buy -- @jonmiller Page 39 © 2014 Marketo, Inc. @jonmiller
  39. 39. The ROI of Lead Nurturing Marketo ROI Results Fast Leads ( MQL <1 mo) Without Nurturing With Nurturing Slow Leads (MQL >1 mo) Total Leads (MQL) Cost / Lead (MQL) 20% 6.67% 26.67% $206.00 20% 20.0% 40.0% $137.50 Source: Actual Marketo data; assumes $55 per prospect Results: 50% more marketing qualified leads from lead nurturing Page 40 © 2014 Marketo, Inc. @jonmiller
  40. 40. Relevance Get the “Definitive Guide to Lead Nurturing” marketo.com/DG2LN Page 41 © 2014 Marketo, Inc. @jonmiller
  41. 41. More Targeted Emails are More Relevant Engagement Score 400 350 300 250 200 150 100 50 0 100 1000 10000 Email Send Size Page 42 © 2014 Marketo, Inc. @jonmiller 100000 Source: 100s of Marketo campaigns
  42. 42. 1. BUYING STAGES 2 Early: Be a Better Marketer • 3 • Mid: Why Marketing Automation • Late: Why Marketo • Customer: Success 2. BUYING PROFILES • Marketing, Sales, Exec Page 43 © 2014 Marketo, Inc. @jonmiller
  43. 43. Page 44 © 2014 Marketo, Inc. @jonmiller
  44. 44. Dynamic Content Industry, Geography, Com pany Size, Customer vs. Prospect, etc. Page 45 © 2014 Marketo, Inc. @jonmiller
  45. 45. The Key to Relevance is Behavioral Targeting Top Tactics to Increase Email Engagement Page 46 © 2014 Marketo, Inc. @jonmiller
  46. 46. Example: Topic of Interest Triggers Email Social • • • • • Content Attends event Downloads content Click email Fills out form Score is changed Page 47 © 2014 Marketo, Inc. Technology @jonmiller
  47. 47. Standard Nurture Triggered Interests Lift Open % 21.7% Open % 34.0% 57% Click to Open % 23.4% Click to Open % 37.1% 59% Click % 5.1% Click % 12.6% 147% Page 48 © 2014 Marketo, Inc. @jonmiller
  48. 48. Scoring and Lead Management
  49. 49. Lead Scoring Defined “Shared sales and marketing methodology for ranking leads in order to determine their sales readiness” Nurture Fit Page 50 © 2014 Marketo, Inc. Pass to Sales Pass to Sales Interest @jonmiller Nurture Disqualify Buying Stage
  50. 50. Demographic “Fit” Score Positive Demographic Score • e.g., Marketing Manager title, known CRM customer, known competitive solution customer Negative Demographic Score • e.g., Generic email address, illegitimate phone number, non-existent company (unemployed, self, looking) Data Augmentation, Not Forms Page 51 © 2014 Marketo, Inc. @jonmiller
  51. 51. Latent Behaviors (Engagement) • • • • • Click email: +1 Visit webpage / blog: +1 Early stage content +3 Attend webinar: +5 Decay inactivity: -1, -5, -10 Active Behaviors (Buying Intent) • • • • • Free trial or Contact request: +15 Pricing pages: +10 Demos: +10 Late-stage content +12 Searches for branded keyword “Marketo” +8 Get the “Definitive Guide to Lead Scoring” marketo.com/DG2LS Page 52 © 2014 Marketo, Inc. @jonmiller
  52. 52. Fit One Way to Identify Marketing Qualified Leads A B C D Lead Lead Lead Lead Lead 4 Page 53 © 2014 Marketo, Inc. Lead 3 2 Behaviors @jonmiller 1
  53. 53. No Lead Left Behind: Service Level Agreements Day 0 Day 1 If untouched, reminder Day 2 If untouched, reminder cc boss Day 3 If untouched, alert executives Day 7 If stale, reminder Day 8 If stale, reminder cc boss Day 9 Page 54 © 2014 Marketo, Inc. Notification If stale, alert executives @jonmiller
  54. 54. Stars and Flames show priority Full list of Interesting Moments Page 55 © 2014 Marketo, Inc. @jonmiller
  55. 55. Revenue Analytics
  56. 56. Page 57 © 2014 Marketo, Inc. @jonmiller
  57. 57. Why Measuring Return is Hard • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people Page 58 © 2014 Marketo, Inc. @jonmiller
  58. 58. Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics Page 59 © 2014 Marketo, Inc. @jonmiller
  59. 59. Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics Page 60 © 2014 Marketo, Inc. @jonmiller
  60. 60. Example: Multi-Touch Attribution A deal worth $100,000 recently closed. Three people were involved in the deal: • Person A attended Seminar A and Trade Show B • Person B attended Trade Show B • Person C was sent Direct Mail C $100,000 Revenue $25,000 Seminar A $25,000 Page 61 © 2014 Marketo, Inc. $25,000 $25,000 Tradeshow B $50,000 @jonmiller $25,000 Direct Mail C $25,000
  61. 61. % Above Min* 89% 76% 75% 41% 57% 73% 67% Source: Marketo Revenue Cycle Analytics, Nov 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 Page 62 © 2014 Marketo, Inc. @jonmiller 10.4 66%
  62. 62. % Above Min* 89% 76% 75% 41% (MT) Ratio = Pipeline / Investment >10 is Great and <5 is Fail Webinar = 54!, Tradeshow = 6.9, Sponsored Email = 3.8, Content Syndication = 9.6 Source: Marketo Revenue Cycle Analytics, Nov 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 Page 63 © 2014 Marketo, Inc. @jonmiller 57% 73% 67% 10.4 66%
  63. 63. % Above Min* 89% % Programs with MT Ratio > 5 e.g. Content Syndication has good average but 43% programs “fail” 76% 75% 41% 57% 73% 67% Source: Marketo Revenue Cycle Analytics, Nov 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 Page 64 © 2014 Marketo, Inc. @jonmiller 10.4 66%
  64. 64. Sales Lead Lead Target Engaged Name Friend Awareness Opportunity Customer Nurturing Database TOFU Page 65 © 2014 Marketo, Inc. MOFU @jonmiller BOFU
  65. 65. Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics Page 66 © 2014 Marketo, Inc. @jonmiller
  66. 66. Key topic areas: • Balance (Reach) • Flow • Conversion • Velocity Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc. Screenshot: Marketo Revenue Cycle Analytics Page 67 © 2014 Marketo, Inc. @jonmiller Trends over time
  67. 67. Use Metrics to Set & Justify Budgets New Targets 15.3% 60,000 2.4% 23,000 131,000 Inventory Of Active Targets New MQLs Score>100 922 20,000 10.5% Inventory of Active MQLs 120K New SQLs 1.9% SDR capacity driven New Opps* 75% 270 1,000 6 Month Created Opp Inv. 35% Wins Inbound / Programs New Names 2,000 (900K DB Total) *Opps is bigger than SQLs because includes outbound and partner referrals Page 68 © 2014 Marketo, Inc. @jonmiller
  68. 68. Get the “Definitive Guide to Marketing Metrics & ROI” marketo.com/DG2MM Page 69 © 2014 Marketo, Inc. @jonmiller
  69. 69. Tweetable Takeaways 1. The way buyers buy has changed forever – the way we market and sell must change as well 2. Define the stages of the buying cycle, in alignment with sales 3. Map content and marketing to the buyer’s journey: early, mid, late stage 4. Most leads are not “sales ready” – nurture relationships over time, use online body language to score leads 5. Use analytics to turn marketing from a cost center into a revenue driver Page 70 © 2014 Marketo, Inc. @jonmiller @jonmiller
  70. 70. Thank You Jon Miller @jonmiller jon@marketo.com

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