From Startup to IPO - How Marketo Drives Growth with Content
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Jon Miller, Co-founder and VP of Marketing at Marketo, details how Marketo uses content to engage audiences, nurture leads, and drive business growth.
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From Startup to IPO - How Marketo Drives Growth with Content
- 1. From Startup to IPO: How Marketo Drives Growth with Content © 2013 Marketo, Inc. Marketo Proprietary and Confidential
- 2. About Jon Miller VP Marketing and Co-Founder 1. My first child was born the same month that we incorporated Marketo 2. Born in Ethiopia 3. Studied Physics at Harvard, captain of highschool debate team and newspaper staff 4. I have a top secret “Q” clearance from DOE @jonmiller Page 2 © 2013 Marketo, Inc. @jonmiller
- 3. Marketo Strong Revenue Growth Page 3 © 2013 Marketo, Inc. @jonmiller
- 4. How Marketo Built our Brand © 2013 Marketo, Inc. Marketo Proprietary and Confidential
- 5. Page 5 © 2013 Marketo, Inc. @jonmiller @jonmiller
- 6. INFORMATION ABUNDANCE Page 6 © 2013 Marketo, Inc. @jonmiller
- 7. Page 7 © 2013 Marketo, Inc. @jonmiller
- 8. Build Awareness Page 8 © 2013 Marketo, Inc. @jonmiller
- 9. Create Preference Page 9 © 2013 Marketo, Inc. @jonmiller
- 10. Reduce Risk It’s one way to ‘reduce whisk’. Get it? #groan Page 10 © 2013 Marketo, Inc. @jonmiller
- 11. What Kind of Content Do We Create? © 2013 Marketo, Inc. Marketo Proprietary and Confidential
- 12. Topics to cover: • Business challenges • Emotions / hopes • Purchase drivers • Language they use (keywords) • Digital habits • Where they go to learn Personas should be: • Distinct from each other • Cover the market • Feel real (I’ve talked to that person!) • Easy to explain Don’t have too many! Four to six is most common. Page 12 © 2013 Marketo, Inc. @jonmiller
- 13. Early Stage Thought leadership and enjoyable content to build brand, awareness, and desire Blog, e-books, research data, funny videos, curated lists, infographics, webinars Middle Stage Tools that help buyers find you when they are looking for solutions Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports Late Stage Company-specific information to help evaluate and reaffirm selection Pricing, demos, services information, 3rd party reviews, customer case studies At each stage, focus on Information Needs more than Format Page 13 © 2013 Marketo, Inc. @jonmiller
- 14. Content Mapping Stages 1 2 3 A B C D Page 14 © 2013 Marketo, Inc. @jonmiller
- 15. 5 Food Groups of Content Tabasco Chocolate Cake Roasts Spinach Raisin Bran Page 15 © 2013 Marketo, Inc. @jonmiller
- 16. The Right Content Per Channel Matters Source: chicagostyleseo.com Page 16 © 2013 Marketo, Inc. @jonmiller
- 17. Influencer Egobait Page 17 © 2013 Marketo, Inc. @jonmiller
- 18. Creating Content at Scale © 2013 Marketo, Inc. Marketo Proprietary and Confidential
- 19. Return How Much Content Should You Create? Page 19 © 2013 Marketo, Inc. Investment @jonmiller
- 20. Staffing for Content Creation • Appoint executive editor • Invest in content creators o o o Content consumers Great communicators Self-promotional • Distribute creation: internal + community-generated • Create a content / social policy Page 20 © 2013 Marketo, Inc. @jonmiller Marketo invests 10% of marketing headcount into content www.marketo.com/ trust/social-mediapolicy.php
- 21. The 3 R’s of Content Marketing REPURPOSE, REWRITE, RETIRE Page 21 © 2013 Marketo, Inc. @jonmiller
- 22. Repurpose Content Page 22 © 2013 Marketo, Inc. @jonmiller
- 23. Rewrite and Redesign Before Page 23 © 2013 Marketo, Inc. After @jonmiller
- 24. Retire • • Every piece of content should have a limited shelf life Ask yourself: • • • Obvious content to retire: • • • Page 24 © 2013 Marketo, Inc. How is this content piece performing? Should we rewrite or redesign? Reports that are dated Assets around an event Topic is no longer relevant @jonmiller
- 25. Top of Funnel © 2013 Marketo, Inc. Marketo Proprietary and Confidential
- 26. Page 26 © 2013 Marketo, Inc. @jonmiller 26
- 27. • Top sources of Targets rely on Content for offers • Note: note all Channels convert the same Source: Marketo data, Marketo Revenue Cycle Analytics, Q1 and Q2 2013. Does not include all sources. Page 27 © 2013 Marketo, Inc. @jonmiller
- 28. Early Stage Thought leadership and enjoyable content to build brand, awareness, and desire Blog, e-books, research data, funny videos, curated lists, infographics, webinars Middle Stage Tools that help buyers find you when they are looking for solutions Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports Late Stage Company-specific information to help evaluate and reaffirm selection Pricing, demos, services information, 3rd party reviews, customer case studies At each stage, focus on Information Needs more than Format Page 28 © 2013 Marketo, Inc. @jonmiller
- 29. Page 29 © 2013 Marketo, Inc. @jonmiller
- 30. 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 Page 30 © 2013 Marketo, Inc. @jonmiller
- 31. The Right Format for Each Channel I’m going to make you an offer you can’t refuse. Learn how to make the most out of every lead in your database. Download The Definitive Guide to Lead Scoring: http://marketo.com/DG2LS Page 31 © 2013 Marketo, Inc. @jonmiller
- 32. Page 32 © 2013 Marketo, Inc. @jonmiller
- 33. Test & Tune With Social Funnel Metrics Coloring Book Results • 289 participants shared • 354 registered downloads • 19.8% increase in registered downloads Page 33 © 2013 Marketo, Inc. @jonmiller
- 34. Middle of Funnel © 2013 Marketo, Inc. Marketo Proprietary and Confidential
- 35. Scoring and Nurturing Nurture Pass to Sales Pass to Sales Nurture Disqualify • Only 25% of new Prospects are ready for Sales • Nurturing generates 50% more sales leads • Score based on Fit, Engagement, and Timing Get The “Definitive Guide to Lead Nurturing” http://marketo.com/DG2LN Page 35 © 2013 Marketo, Inc. @jonmiller
- 36. Lead Nurturing Relevance Stages A 1 1. BUYING STAGES 2 • • • • 3 Early: Be a Better Marketer Mid: Why Marketing Automation Late: Why Marketo Customer: Success B 2. BUYING PROFILES C • Marketing • SalesD • Exec Get The “Definitive Guide to Lead Nurturing” http://marketo.com/DG2LN Page 36 © 2013 Marketo, Inc. @jonmiller
- 37. Page 37 © 2013 Marketo, Inc. @jonmiller
- 38. 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 38 © 2013 Marketo, Inc. @jonmiller
- 39. • Early stage content +3 • Attend webinar: +5 • Visit any webpage / blog : +1 • Visit careers pages: -10 • Decay inactivity: -1, -5, -10 • Pricing pages: +10 • Watch demos: • +5 overview • +10 detailed • Mid-stage content +8 • Late-stage content +12 • Searches for branded keyword “Marketo” +8 Get The “Definitive Guide to Lead Scoring” http://marketo.com/DG2LS Page 39 © 2013 Marketo, Inc. @jonmiller
- 40. How We Measure the Value of Content © 2013 Marketo, Inc. Marketo Proprietary and Confidential
- 41. Metrics for Each Stage Early Mid Late • Traffic / views • Lead generation • Sales usage (targets) • Downloads • Pipeline and • Pipeline and opportunity • Links opportunity allocation • Shares and Likes allocation • Revenue • Sales usage allocation Page 41 © 2013 Marketo, Inc. @jonmiller
- 42. Top Traffic (Q2+Q3) Page 42 © 2013 Marketo, Inc. @jonmiller
- 43. Top Resource Downloads (Q2+Q3) Page 43 © 2013 Marketo, Inc. @jonmiller
- 44. Why Allocation? • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people Page 44 © 2013 Marketo, Inc. @jonmiller
- 45. Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics Page 45 © 2013 Marketo, Inc. @jonmiller
- 46. First vs. Multi-touch Screenshot: Marketo Revenue Cycle Analytics Page 46 © 2013 Marketo, Inc. @jonmiller
- 47. Content Performs Better With Multi-touch Screenshot: Marketo Revenue Cycle Analytics (actual data) Page 47 © 2013 Marketo, Inc. @jonmiller
- 48. Top Pipeline Drivers (YTD) Page 48 © 2013 Marketo, Inc. @jonmiller
- 49. Additional Resources Definitive Guide to Marketing Automation http://marketo.com/DG2MA The Definitive Guide to Social Marketing http://marketo.com/DG2SM The Definitive Guide to Marketing Metrics & ROI http://marketo.com/DG2MM Page 49 © 2013 Marketo, Inc. @jonmiller
- 50. Tweetable Takeaways & Q&A 1. Information abundance is transforming how buyers buy 2. Modern consumers trust brands that provide useful content without trying to sell them something You need different content for each persona, phase of the buying cycle, and channel 3. 4. 5. 6. Create content at scale by repurposing and rewriting your content Most leads from content are not readyto-buy – nurture and score relationships over time Measure early stage content by views; mid-stage by leads; and late stage by revenue allocation Page 50 © 2013 Marketo, Inc. @jonmiller @jonmiller
- 51. © 2013 Marketo, Inc. Marketo Proprietary and Confidential
Editor's Notes
- But now, there is an explosion of readily available information… According to IBM, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone.This is a recent phenomenon…When Marketo was founded in 2006, the iPhone didn’t exist, Twitter had not launched, and Facebook was only for college students. All this data = buyers today are more empowered. The Web provides them with instant information gratification. They can access detailed specs, pricing, and reviews about goods and services 24/7 with a few flicks of their thumbs. Meanwhile, social media encourages them to share and compare, while mobile devices add a wherever/whenever dimension to every aspect of the experience. Result: Forrester Reports that 65-90% of buying process is complete when consumer is walks into store/branch/dealer, or contacts salesRequires deep changes in how we market to consumers. That’s how we approached our marketing process at Marketo.
- 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
- Three benefits to owning your own attention
- Treat consumers as partners…not just customers 71% of consumers trust solutions that provide useful info without trying to sell them something Acknowledge and respect consumers’ evaluation/consideration processes 85% trust solutions that walk them through various paths toward decisions, rather than just providing answers Support consumers after purchase 62% of consumers trust solutions that provide info and tools for using products they’ve bought Demonstrate an understanding that consumers’ lives change 83% trust solutions that include resources for using products every step of the way, as needs evolve Build engagement solving consumers’ large and small challenges 85% trust solutions that use ads/sponsored content to inform, help with a need
- Step one – know WHO you are selling toI have seen people go crazy on this exercise, but I recommend keeping it simple. While it’s ideal to have specific personas for every person involved in the buying process – it is fine to start with two or three key personas, and work through the process. For example, for if you are selling technical software - you will have the user, the influencer and the buyer. This is a really important step to go through is the exercise to really get to know your buyers.
- Map content to the buying stage {keep it short}
- http://www.chicagostyleseo.com/2013/02/choosing-the-right-social-media-channel-for-your-business/
- Content kind of a big deal
- Map content to the buying stage {keep it short}
- 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 increase the # who view it… 20% of our fans saw this organically (~10K)Paid added 300K views!
- Make every sharing trackable, then testable and optimize over time
- OK, so we’ve generated Prospects from Inbound and Outbound sources…. What next?
- Mention Positive and Negative Demo Score
- 18 triggers11 batches19 campaigns to manage the whole thing
- Here’s how Marketo does it. Latent behaviors – interestActive behaviors – buying intent
- Content kind of a big deal
- Step 1: Important to track all touches
- Step 1: Important to track all touches
- Different pipeline allocations – first / even
- Content kind of a big deal