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A New Dimension to Marketing Automation

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June 23, 2015
Webinar presented by:
Right On Interactive and marketingIO
A New Dimension to
Marketing Automation
949 354 4...
Mike Davis
Principal, marketingIO – Asparian LLC
For the past 15+ years, Mike's background consists of enterprise software...
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A New Dimension to Marketing Automation

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In this webinar, you'll discover a superior method to score, identify and pursue sales opportunities that will close quickly, driving revenue faster into your company.

During the presentation you will learn about Right On Interactive's Customer Lifecycle Marketing (CLM platform), its benefits, how CLM is integrated with marketing automation, and how to use CLM to align sales and marketing to drive higher quality leads into your sales team.

Presenters: Troy Burk, CEO and Founder, Right On Interactive, Lori Grass , VP of Sales & Alliances, Right On Interactive, and Mike Davis, Principal, marketingIO (a Right On Interactive Partner).

In this webinar, you'll discover a superior method to score, identify and pursue sales opportunities that will close quickly, driving revenue faster into your company.

During the presentation you will learn about Right On Interactive's Customer Lifecycle Marketing (CLM platform), its benefits, how CLM is integrated with marketing automation, and how to use CLM to align sales and marketing to drive higher quality leads into your sales team.

Presenters: Troy Burk, CEO and Founder, Right On Interactive, Lori Grass , VP of Sales & Alliances, Right On Interactive, and Mike Davis, Principal, marketingIO (a Right On Interactive Partner).

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A New Dimension to Marketing Automation

  1. 1. June 23, 2015 Webinar presented by: Right On Interactive and marketingIO A New Dimension to Marketing Automation 949 354 4790 | davis_mike@marketingIO.com
  2. 2. Mike Davis Principal, marketingIO – Asparian LLC For the past 15+ years, Mike's background consists of enterprise software and technology services, managing the development and integration of major technologies, e.g., Oracle, IBM, Microsoft, and 3rd party cloud application platforms. He specializes in business strategy and process improvement, marketing and technology integration management, project/program management, and end-to-end martech solutions. Joe Rizzo Principal, marketingIO – iNeo Marketing With over 25+ years in digital marketing, Joe Rizzo specializes in multi-vertical B2B and B2C marketing initiatives fulfilling services for start-ups to the Fortune 1000. Joe is a seasoned SaaS Marketing Automation technologist, as well as a noted author, speaker, and consultant in digital marketing. . 949 354 4790 | davis_mike@marketingIO.com
  3. 3. Troy Burk CEO & Co-Founder at Right On Interactive Troy is a recognized thought leader and speaker on the topics of lifecycle marketing, marketing automation, lead and customer scoring and nurturing. He founded the company in 2006 after a successful early career at ExactTarget. Lori Grass Vice President of Sales & Alliances, Right On Interactive Lori Grass joined Right On Interactive in 2012 with over 20 years of sales experience. Prior to, she was vice president of sales and marketing for Tri-Auto Enterprises, a national automotive marketing software firm. 949 354 4790 | davis_mike@marketingIO.com
  4. 4. Agenda Free Stuff and Questions 1 2 3 4 5 Poll Questions The Current State of MAS Customer Lifecycle Marketing Tweet This @roi_marketin g @martechIO Data 949 354 4790 | davis_mike@marketingIO.com
  5. 5. The Value of MAS Companies that excel at lead nurturing generate 50% more sales-ready leads at 33% lower cost (Forrester Research) 63% of companies that are outgrowing their competitors use MAS (Position2) Companies that use MAS see 70% faster sales cycle times, 54% improvement in quota achievement. Tweet This @roi_marketin g @martechIO Marketing Effectiveness • Nurturing • Efficiency 50% Automation • Consistent processes • Sense of urgency 63% Sales Growth • Engagement visibility • Lead lists 70%
  6. 6. The Challenges of MAS Only 3% adoption in non-tech companies (VentureBeat) Only 8% of companies using marketing automation use it to nurture their existing customers (SiriusDecisions) 85% of B2B marketers using marketing automation platforms feel they’re not using (SiriusDecisions) Foundation • Data • Personnel resources 3% Strategy • Glorified email tool • Lead-centric thinking 8% Execution • Slaying the dragon • Content 85% 949 354 4790 | davis_mike@marketingIO.com Tweet This @roi_marketin g @martechIO
  7. 7. 1 Three Steps to Better Data 3 2 Do Build It • Incent/RTW • Gated content • Events Do Ongoing Clean Up • Standard format • Must have data • Check-ups Don’t Cleanse Once • Don’t hire temps to do it • Don’t delay until you are ready Do Enrich • Append data • Progressive profiling Don’t Spam • Don’t keep unengaged active • Suppress often Don’t Buy It • Not opted in • Expensive 949 354 4790 | davis_mike@marketingIO.com
  8. 8. So Why Is Lifecycle Marketing The Answer? 949 354 4790 | davis_mike@marketingIO.com
  9. 9. It’s 6-7x more costly to attract a new customer than it is to retain an existing customer. 80% of your company’s revenue will come from just 20% of your existing customers. The probability of selling to an existing customer is 60-70%. The probability of selling to a new prospect is 5-20%. Today’s buyer’s are anywhere from two-thirds to 90% of the way through their journey before they reach out to a vendor. Your Customers Are Your #1 Reven ue Source 949 354 4790 | davis_mike@marketingIO.com Tweet This @roi_marketin g @martechIO
  10. 10. Customer Lifecycle Marketing Lifecycle Map Analytics, Dashboards and Reporting Profile and Engagement Scoring Web and Social Analytics Automated Campaigns Tool Audience Segment Builder Email Tool
  11. 11. Events Email Web Calls Social Kim Registered to win at event Profile: 70 Engagement: 12 Alex Made first purchase Profile: 80 Engagement: 88 The Journey ATTRACT CONVERT ONBOARD EXPAND APPRECIATE 949 354 4790 | davis_mike@marketingIO.com
  12. 12. Segmentation: Si mple Phases • Website anonymous, identified visitor reports • Social media engagement and interaction • Tasks scheduled in CRM activities • Alerts to sales inbox • Accept and reject portal • 360 view of the lead • Start with stages • Prioritize most important • Utilize dynamic content • Engaged • Unengaged • Good fit • Poor fit • Demographic • Psychographic • Firmographic • Purchase behavior 1 - Stages 2 - Scoring 3 - Personas • Qualified leads to ISVs and PSEs • Closed loop reporting and dashboards • Lifecycle map and metrics • API access for dashboards • Visibility into lead flow • Visibility into lead status Outputs Attract Convert Onboard Expand Appreciate 949 354 4790 | davis_mike@marketingIO.com
  13. 13. Best Practices: Attract Stage • Don’t sell • Establish thought leadership • Drive opt-ins through register to win programs • Website should be hub • Engage: events, direct mail, social, inside sales Awareness Consideration Convert Onboard Expand Appreciate Attract 949 354 4790 | davis_mike@marketingIO.com
  14. 14. Best Practices: Convert Stage • Ensure value prop against competition • Evolve from search marketing to discovery • Be found where your prospects search • Engage: email campaigns, digital marketing, webinars, outside sales team Realize Value Attract Convert Onboard Expand Appreciate Convert 949 354 4790 | davis_mike@marketingIO.com
  15. 15. Best Practices: Onboard Stage • KISS • Consistency • Retention starts now • Ensure success • Engage: customer service, training, how to videos, product specs Initial Purchase Attract Convert Onboard Expand Appreciate Onboard 949 354 4790 | davis_mike@marketingIO.com
  16. 16. Best Practices: Expand Stage • Brand experience • Maximize relationship • Cross sell/upsell the right products • Relevancy by engagement • Lead lists to sales • Engage: customer service team, new product roll outs, case studies, incentives See Results Attract Convert Onboard Expand Appreciate Expand 949 354 4790 | davis_mike@marketingIO.com
  17. 17. Best Practices: Appreciate Stage • Support brand advocates • Highlight success stories • Award loyalty • Delight and surprise • Referrals and recommendations • Engage: referral rewards program, loyalty program, surveys, focus groups Advocate Attract Convert Onboard Expand Appreciate Appreciate 949 354 4790 | davis_mike@marketingIO.com
  18. 18. Ten Campaign Questions 1. What’s the objective? 2. Who is the audience? 3. What are the key messages? 4. What is the value proposition? 6. What media channels? 7. Where are content assets? 8. What is the CTA? 9. What results are measured? 10.What is the schedule? 949 354 4790 | davis_mike@marketingIO.com
  19. 19. Lori’s Favs 1 2 3 Segmentation doesn’t have to be complicated Lifecycle marketing is the future Phased approaches with quick wins 949 354 4790 | davis_mike@marketingIO.com
  20. 20. Troy’s Favs 1 2 3 Results are bigger than opens and clicks Lifecycle is a business solution Don’t forget about the customer 949 354 4790 | davis_mike@marketingIO.com
  21. 21. Free Stuff! 1 2 3 Recorded webinar New Lifecycle e-book Discovery session if desired 949 354 4790 | davis_mike@marketingIO.com Tweet This @roi_marketin g @martechIO
  22. 22. Questions? Lori Grass For more information on technology lgrass@rightoninteractive.com rightoninteractive.com Mike Davis For more information on strategy davis_mike@marketingIO.com marketingIO.com 949 354 4790 | davis_mike@marketingIO.com
  23. 23. About Right On Interactive Right On Interactive (“ROI”) is a customer lifecycle marketing software company that helps organizations win, keep and grow business. We do this through our lifecycle marketing solution that builds engagement throughout the lifecycle of every prospect and customer. 949 354 4790 | davis_mike@marketingIO.com
  24. 24. About marketingIO Marketing Technologists + Marketing Strategists + Marketing IT Support, DB & Application Developers = marketingIO 949 354 4790 | davis_mike@marketingIO.com
  25. 25. Thank You! 949 354 4790 | davis_mike@marketingIO.com

Editor's Notes

  • Introduction (Mike) Thank you for Joining
    Why are we here to discuss the New Dimension to Marketing Automation
    Answering: What is Lifecycle Marketing and how is it leveraged as a competitive advantage
    We have on the call:
    Troy Burk - CEO & Founder at Right On Interactive
    Lori Grass - Vice President of Sales & Alliances Right On Interactive
    Myself, Principal - marketingIO
     
  • Mike Davis - Brief Background (Technology) -15+ years in Technology integration projects leveraging SDLC, Agile, Scrum, RAD, and ITIL based methodologies. Enterprise software and service to clients (mid-large), managing the development and integration of such technologies as Oracle, IBM, Microsoft, Cisco, EMC, VMware, and 3rd party cloud application platforms (social media, B2B, B2C, mobile)

    Joe Rizzo - Brief Background (Marketing) - Marketing technologist, 25+ years in digital marketing, Specializing in B2B marketing within a variety of verticals, Marketer from start-ups to the F1000, Author, speaker, consultant
     
    Why marketingIO (Launch) - Marketing & Technology (Bring together expertise/fill gaps) Strategy, Integration, Support
     
    Right On Interactive (Partnership) - In the process to deliver marketingIO services
    We evaluated and implemented a variety of Marketing Automation Systems
    We found a distinct competitive advantage with Right On Interactive’s platform
    Ease of Use & Technology Design (Segmentation, Ease of Use, Lifecycle Marketing)
     We will be discussing the New Dimension to Marketing Automation, but before we do:
    Webinar Functions
    You can see the Control Panel on the right side of your screen. To free up space on your desktop, you can collapse the Control Panel.
    Questions during a webinar, you can enter your questions into the Questions pane of the Control Panel for the organizer or panelists to answer. Just type your question into the Questions pane of the Control Panel and click Send. We will answer as many questions as we can at the end of the event, and if we don't get to your question, we will respond to you via email.
    One more item: We are in broadcast mode, and all attendees are muted: you can hear us, but we cannot hear you.
     
    Introduction to Lori Grass - Vice President of Sales & Alliances
    Hi Lori, take it from here
     
     
     
     
     
     
     
     

  • LORI: Thanks Mike – this is a great opportunity to thank both Mike and Joe from marketingiO for hosting the webinar today. Right On Interactive is a technology solution, but as with any technology, there is no power without a strategy behind it. So, the team at marketingIO is dialed in to how to get maximum results with all types of marketing technologies.

    I am Lori Grass and I’m the VP of Sales and Alliances with Right On Interactive. I’ve been in the sales game a long time. I am passionate about marketing technology. It is such a game changer for both sales and marketing teams with the automation and visibility.

    TROY: I am Troy Burk, I’m the CEO and co-founder of Right On Interactive. I’ve been in the marketing technology space for over 20 years. During this tenure, I have helped thousands of companies generate more revenue by leveraging technology, aligning sales and marketing, and improving processes. I started Right On Interactive in 2006, as I saw a unique opportunity to help companies find greater success by focusing on the entire customer experience.
  • LORI

    You can see the agenda on your screen
    Before we get started we’re going to deploy 3 quick poll questions to the audience. This will allow us to know which slides deserve more time than others, so thanks for taking the time to respond.
    ½ of our registrants today indicated they are not using a MAS tool yet, so once we complete the poll, we have just a couple of slides about the current marketing automation landscape and also data.
    We will move quickly to Customer Lifecycle Marketing and then wrap up with some free stuff we’re going to send you post webinar.

    As Mike said, we encourage questions throughout. We’ve got a couple of team members that will moderate and feed us questions if it is relevant to the discussion. Otherwise we will answer at the end.

    For those of you that are tweeters, it’s always fun to tweet throughout a webinar – that’s a great way to stay active, so have fun – you’ll see our handles periodically show up when there is a relevant stat.
  • LORI – Marketing Automation tools have gotten lots of positive buzz in the last few years and the results are dramatic. Largely the return on investment from these tools have centered around leads – specifically identifying those leads that are ready to go to sales. The traditional use case falls into one of two buckets:
    The lead takes an action, for example, downloads a white paper. Then the lead gets an immediate triggered response
    The second area is nurturing. This involves a longer term campaign – often time a series of emails that are sent to a lead over time.
    Since there is a technology powering these communications, most marketing departments recognize a lower cost due to the manual processes that are eliminated.

    Automation – The automation supplies more than the cost savings. It is the consistent process. The marketing department no longer has to cross their fingers and hope that a sales rep is going to follow through with a lead. The technology ensures that it happens – every time. The other big win is the immediacy. The one thing Apple and Google have taught us is that we want everything now and that’s what marketing automation will do for you.

    The last area is Sales Growth – So the term, MAS is a little deceiving. Sales gets a ton of value from the MAS and you can see the results effect sales cycles and quota achievement. The reason is for increased visibility using tools such as
    Anonymous and Identified visitor reports. My team loves these two reports. Our best practice at ROI is to send these reports to the sales team every morning at 7 am to their inbox. They can see exactly who’s been on the website in the last 24 hours. WE actually sold a Fortune 20 customer, because their CMO downloaded one of our e-books. I had an inside sales guy call him and 6 weeks later they were a customer.

    TROY – SO THAT’S THE GOOD NEWS…
  • LORI
    YEAH…AND NOW THE BAD NEWS

    FOUNDATION
    It’s new. Outside of the technology sector, only 3% of other industries have adopted. Based on what I see as I’m out talking to prospects, it’s one of 2 things:
    They are insecure about their data. I was talking to a prospect in the manufacturing field and I asked him where they house their data and he said well – sales uses Microsoft Dynamics and accounting uses an SAP for purchasing data. And then we have “the box”. I said, “the box” – is that some home-grown system? He said, “no – literally it is a box that is 3 ft x 3 ft” that has the last 10 years worth of trade show registrants in it.
    Resources – They know that they need people to use the MAS tool, people to write content, etc. Sometimes it is the sheer number other times it is they don’t have team members that know anything about digital and inbound marketing.

    STRATEGY
    The second issue is strategy – typically what I see is not that it is a bad strategy, but they have no strategy at all. One of our clients was using a marketing automation tool before they came to us. IT’s a well respected tool with lots of bells and whistles, but the only thing they were doing was using it to send monthly newsletters. There are lots of great email marketing tools that are MUCH cheaper than a MAS tool. So, it’s really important that you find the right tool for your needs. The other strategy flaw is that everyone is lead focused. Look at this stat – only 8% of companies are using MAS to nurture customers? That blows me away. Troy why do you think that’s case?

    TROY – well, we’re going to talk about the details a bit later in the webinar, but the initial MAS tools were specifically designed for B2B lead scoring and nurturing. Some of the tools have expanded to the full Lifecycle, but many have not.

    EXECUTION
    The last area where we are failing short is in execution. Although not to the tune of our customer who was only sending the monthly newsletter, but most B2B marketers feel like they could be doing more. The 2 biggest mistakes I see is:
    Trying to slay the dragon – what I mean by this is that because these tools can do everything, that’s what people want to do. I was talking to a prospect last week that was unhappy with their current MAS provider, and when I asked why, he showed me a blueprint of what they wanted to do and it was 16 audience segments, each with specialized content and his team was underwater trying to make it all happen. In that case, it had nothing to do with the current tool and everything to do with he was setting unrealistic expectations with the team. The other important element aside from a phased approach is to look for quick wins. The anonymous and identified visitor reports I mentioned to you earlier – we typically get those set up in the first week or two. This allows everyone to see some quick wins out of the gate.
    The second area is Content Marketing is Hard. Marketers understand that there messaging needs to be relevant, but they get hung up on that they need multiple oriiginal ebooks, white papers and infographic. We’l talk more about curated content and relevant messaging in the lifecycle portion.

    So enough of the gloom and doom – let’s talk about some answers.
  • LORI
    It doesn’t matter what technology tool you are using, the starting point is typically always going to be data.
    The term Big Data is getting a lot of press today and so one of the concerns I hear is that people feel like their databases aren’t robust enough, so they want to buy lists. I would be cautious if you are buying lists for email communications – they are expensive, and no matter what the vendor says – they are not opted in for your communications. You run the risk of getting black listed. Build it over time as oppose to buying a list. There are great ways to do this: RTW programs. Even B2B marketers can incent to win. I use a social media tool and they sent me a survey last week for a free $10 Starbucks card, if I would fill out their survey

    TROY: Did you? Lori: Of course, you know I love my venti iced coffee. Gate your content. People will give you their name and email address for a white paper or an infographic.

    2. The second issue is keeping the data clean. I was talking to a prospect last week and he said “Lori, I’m just afraid my data is not in good enough shape yet, for Lifecycle Marketing.” I need to get it “cleaned up”
    LORI: The concern is…”junk in junk out”. I get it, but what most people don’t realize, is that it is not a one time project. Do you remember that Big Data conference you spoke at a year ago? What was the stat that you heard…

    TROY: People don’t realize that in 22 months 33% of people change Jobs and another 33% change roles within a company. So in 22 months from now 66% of the "good data" you have will be bad.

    LORI: It’s an ongoing best practice and utilizing a tool like customer lifecycle marketing can actually incent your reps to be more focused on CRM upkeep. Don’t bring it temps or interns to “fix it”. Your reps need to own this part of the process and it needs to be ongoing. I think one of the most common mistakes I see is that companies try to capture everything. What I mean is that they ask sales reps to capture 20 pieces of data – bad strategy. Distinguish between “must have” and “nice to have”. What are you actually going to do with the data you are collecting? It’s tempting to collect date of birth for example and in many cases for B2C it is very useful, but unless it’s going to help you with segmentation or triggered communications for example, do you really need it? Don’t fall into the trap of collecting data because you can. If you can’t think of a use, don’t gather it. Also think about standard formatting. We were doing a data mining exercise for one of our clients and they had 92 states listed in the US. There aren’t 92 states. The reason is they didn’t use a drop down, so they had Illinois, IL and ILL. I’m a big fan of the dropdown in a CRM.
    3. The Third Area Is Enriching Although I’m not a fan of purchased lists, I am a fan of appending data. Most companies will allow you to pick 5 append fields for one cost, so you can quickly get additional insight. Don’t ask for everything at once – build it up over time. Studies show that people will only provide 3 pieces of information at a time. ROI has forms that provide progressive profiling, as do many other MAS tools.

    If a prospect isn’t engaging with your content, suppress them. Suppressing anyone in your list who hasn't engaged with your emails in over a year increases your deliverability rate by 3-5% immediately. Set some ground rules on when you will suppress people out of your list. If you choose to keep these contacts in your database, you can always run a re-engagement campaign in the future. Remember that you are paying to keep these records in your MAS. Don’t let dirty data be a factor in having to jump to the next price level.
    OK Troy – so I’ve covered the current lay of the land, got the data in good shape – why is it that Lifecycle Marketing can solve some of the issues we’ve been discussing?

  • TROY - A mentor of mine told me many years ago – “In business, you need to keep things simple to understand and simple to administer.”

    Customer Lifecycle Marketing is just that. Every company has a journey that prospects and customers go through with their brand From Awareness to Appreciation. The entire organization can get behind this – not just the demand generation team.

    Which is why we often state that Customer Lifecycle Marketing is a “Business Solution” – not just a marketing solution

    Remember, Lifecycle is bigger than a campaign – the majority of the people in your database (or even those that are engaging with you) are necessarily in a campaign.

    Lifecycle Marketing gives you an easy to understand framework (or foundation) in which the strategy, resources, and tactics can be deployed.

    Companies that are committed to Lifecycle Marketing realize it is a business solution – not a marketing solution.
  • TROY

    Lori, do you know what the #1 Asset is that every company has over their competition?

    LORI – well, I am guessing given the slide on the screen, it would be their customers.

    TROY – of course, you got it.

    We all understand that lead generation and lead conversion are important, but just look at these stats – they dramatically point out the importance of continuing to build a relationship with customers after the purchase.

    It is 6-7 times more costly to obtain a new customer than to retain an existing customer.

    Then there is the 80/20 rule – 80% of your revenue will come from 20% of your customers.

    I often ask companies – last year – what % of your business came from existing customers and what % came from net new customers. For an established business – the % of revenue from existing business can be as high as 80-90%. Then I ask them what % of your marketing budget is allocated to customer retention and growth - and they tell me the majority is spend on acquisition and sometimes nearly all of it. There simply is a missed opportunity here!

  • LORI So Troy, for folks on the webinar that may not be dialed into how a CLM solution is different than MAS, why don’t you provide an overview.

    TROY Sure - lifecycle marketing is getting a lot of buzz today, and there seem to be a few different definitions. You may hear some email marketing companies talk about the Customer Lifecycle and they focus it around a campaign or the lifecycle of an email subscriber. Send a series of 5 emails. The first email is the beginning of the Lifecycle and the 5th email is the end. This is a nurturing campaign – not customer lifecycle.

    You may also hear the term “marketing automation”. Lifecycle marketing tools have marketing automation features, but marketing automation tools do not have Lifecycle capabilities.

    CLM is the journey that someone takes with a brand. From the time they are a lead to a brand loyal advocate and every step in between. It’s one single view of the customer with all of their engagement touch points.

    The feature sets typically included in a Lifecycle Marketing technology will be some of what you see in MAS. The big differential is the visibility provided by a Lifecycle map and the resulting analytics associated with each stage. Then of course the data that is in a CLM solution (like purchasing data, consumption data, customer satisfaction data) would never go into a B2B lead management (or marketing automation) solution.
  • TROY - Let me drill in a bit more about how a customer lifecycle solution works. This is a sample journey that someone may take with your brand. These 5 stages represent a typical B2B journey…..

    The green boxes represent the different customer lifecycle stages – from attraction to appreciation.
    The blue dots are individual people or companies plotted on the y axis (vertical) based on their profile score and the x axis (horizontal) is their level of engagement (all engagement). Folks in the top right quadrant of any stage are the best fit and most engaged.

    The metrics along the bottom of each stage provide insight into the current and future health of an organization.
    Count and percent of contacts/companies in each stage
    Percent that convert (or move) to the next stage
    And the Duration (the time contacts or companies stay in any stage).

    In this example – we have Kim, who is in the Attract Stage – has a good profile score, but little engagement
    We also have Alex who is a new customer in the onboard stage – has a high profile and high engagement.

    We want to move both Kim and Alex to the Appreciate stage – but the strategy, process and duration to get them there will be different.

    LORI – There is always a big aha moment when we populate someone’s map for the first time. I was sitting in an unveil a couple of weeks ago and we had the executive team all in the room. They actually had 4 customer stages, instead of the 3 shown here. 75% of the entire database was stuck in the 2nd customer stage. The CEO looked down the table at the CMO and said “why in the heck are we spending all of this time and money to fill the top of the funnel and get more leads, when 75% of the database is already a customer and we have trust and a relationship established. They changed their entire strategy at that point.

    TROY – And that’s why I say it is a “business solution”.
  • TROY - Once you get your stages determined then you need to think about how you are going to segment and communicate.

    This is where the layering comes in that we talked about earlier. The easiest place to start is to simply communicate to folks differently based on the stage they are in. Some of our customers never move from this Lifecycle strategy and that’s OK. It is the easiest approach and they see results. If you want to personalize by industry, company size, title, you can easily do that through dynamic content.

    The second layer could be scoring. We have both profile and engagement scoring. So for example, these people on the right corner of the convert stage – should be talking to a salesperson. These people on the left have become unengaged, so they may need a re-engagement campaign.

    The third layer could be persona. If you group your customers based on what they look like demographically, psychographically, etc. that is a segment that would overlay on top of the lifecycle stages.

    We talked earlier how Lifecycle Marketing is a business solution. It’s about engaged relationships – but engagement is not just a campaign. So Lori’s going to walk us through each of the stages and share some best practices on engaging at each stage of the customer lifecycle.
  • LORI - The Attract Stage – keep in mind this stage you probably don’t know a lot about these folks. So you are fishing in the pond to see who takes a bite. Not all the fish are going to be interested in your bait.
    The #1 rule is Don’t try to sell to these people. They aren’t ready to buy. Focus on outcomes, aspirations, and goals, not products or solutions.
    This stage is all about thought leadership. With Right On Interactive our mission is to be the authority on Customer Lifecycle Marketing. Your attitude should be, I don’t care if you buy my product. I want you to come to our website and consume all of our information because we are the experts in this field. The key is to identify and understand your customers pain points. I met with a company that is in the niche manufacturing space – they produce seals. One of the big pain points of their customers is seal failure. If you notice your seal is failing too late, you have a big issue on your hands that costs thousands of dollars. So they created an APP for people to understand what failed seals look like before they fail. They are getting this app out there to everyone to establish that they are the trusted source in seals.
    Sometimes people in this stage, you don’t even have their email yet, so you want to drive opt-ins. We did a promotion with the Indiana State Fair. We had big banners about a RTW program all of the fair and we drove 1000s of email captures. B2B you can still do RTW – just make it something that will appeal: Starbucks cards, ipads, laptops, etc.
    Ensure that your company is featured in the places where your prospects are researching and make sure the message is speaking to buyer needs. For example, the CRM that Right On choose we found from re-targeting ads that were placed strategically based on our web browsing history
    The website should be the hub. Every customer touch point you have – newspaper ad, digital re-targeting message, email should have a strong CTA to go back to the website so we can capture that web behavior. Lead flow is a great white boarding session to do with your team. Look at every touch point you have with a potential prospect and map where that touch point is going to lead. It’s one thing to get your blog out there and it’s another thing to have a strong CTA that leads them to your website for a piece of gated content. During this stage, prospects are typically looking for a solution through Google or another online search engine. For example, with Right On Interactive, we were looking for a new CRM to use. We did a lot of searching with the keyword CRM for technology companies. We weren’t looking for one particular CRM yet.
    Some great ways to engage with customers at this stage is Social media, direct mail and Events. Do you know that 90% of all trade show leads are never followed up on. You know why? It’s because it’s hard. I was at a meeting with one of my prospects – a large national brand a couple of weeks ago and the use case we were walking through was trade show leads. Their previous strategy, they spent $50,000 going to a big trade show and their trade show leads are all sitting in an excel spreadsheet and they’ve done nothing with them. So, we white boarded a trade show strategy using automated marketing and it looks like this:
    a. VIP attendees get an Email sent with invitation to come to private cocktail reception. Call to action goes to website to download the VIP pass
    b. A week before the show, any VIP attendee who has not gotten the guest pass from the website, gets sent to inside sales. IS calls and does a personal invite
    c. During the show, a representative is monitoring twitter activity about the show in the Right On software and tweeting back out to people asking them to stop by the booth
    d. Post show there are 3 drip nurturing tracts based on the three different areas of interest that are a combination of email and direct mail
    e. Alerts sent to sales once engagement gets to a certain threshold that it’s now time to call. The beauty is – it’s all automated
  • LORI - In the Convert Stage is when you want your prospects to start recognizing the value of your products and services.
    They are trying to solution the problem. The buyer is researching you, but they are also looking at your competitors. Ensure value proposition and positioning against competition is really strong. You are still pushing people to the website.
    Case studies, use cases on how you’ve helped other customers. Guides on how you help, so they can see their problem solved with your solution. Show why you are the best choice to solve their problem.
    The buyer is transitioning from search marketing to discovery. In the previous stage, we talked about Right On looking for a CRM and we Googled CRM for technology companies. By the time we got to the convert stage, we had our short list of companies and we were looking at online reviews and searching company websites.
    Because we are tracking both identified and anonymous visitors that come to your website, at this stage, you can provide targeted content based on customer engagement. For example, one of our customers has three primary product lines, based on which white paper a web visitor downloads, the prospect will receive a nurturing tract about that topic.
    When you think about content at this stage, it may be more effective for it to be personalized from the sales rep and look as if it is coming directly from their gmail or Outlook account. For example….
    Engagement at this stage is going to become more one to one with personalized campaigns, digital marketing and webinars. Since this is a stage that a field sales rep is typically involved, sending automated alerts to a sales rep when a certain action is taken can be a vital step in a campaign. At ROI, if someone looks at more than 4 pages of our website, we consider that to be a “hot lead”. When that happens, we send an automated alert to the sales team.
  • LORI - Sadly, the onboard stage is when most companies stop marketing. Big mistake. One could argue that this stage is crucial to make a great first impression.

    The first step in the onboarding process is to make it simple. I don’t know of anyone that likes hard, right? A good way to streamline it is with automation. Lifecycle software can provide triggered alerts for both positive and negative behaviors. For example, we have a technology company that is one of our customers and their big KPI was onboarding customers and the first 30 days of the relationship, because they had studies that showed if customers don’t log into the portal at least twice in that first 30 days, they were never going to become good users of the software. So, they used our software to trigger alerts to customer service reps if someone had not logged into the portal in their first 7 days. If it got to 21 days, the alert got escalated to a manager.
    Providing a consistent experience for all customers is one of the biggest advantages of using a marketing automation system. This ensures that every customer is going to have the same experience and human error or lack of follow through doesn’t occur. One of our new customers is a marketing firm that hosts events and drives traffic to their customers. They shared that the first stage they want to focus on was Onboard, because they had manual touchpoints that are crucial for success. So we white boarded the current manual process and found 3 key areas to automate: 1. The welcome email, 2. The video series. Alerts are now sent to CS if a client has not watched the videos. 3. The “key dates” email.
    Retention starts the first day a customer comes on board - Pay attention to those unengaged that are in the bottom left of this quadrant. If they are unengaged in the first 30 days, you will likely be at risk to lose them down the line.
    Ensure successful first experience. If it isn’t, troubleshoot how it will be different next time
    Engagement channels at this stage should be chocked full of instruction, how to and product information. Videos and webinars are great tools.
  • LORI
    The Expand stage is where you have the opportunity to take your relationship with the customer to the next level and make the most of the relationship

    One of the complaints I hear from VPs of Sales is that the sales reps keep calling on the same customers and they don’t go deep enough in the customer list. It’s the old 80/20 rule. What CLM can do is to help identify who is ripe to be upsold or cross sold. I’ll give you a couple of examples:
    a. One of our customers is an insurance company. Their initial focal point was to sell an auto policy to brand new leads. The second goal was to cross sell them a home or life policy. They used our software to analyze who was in the best spot to buy those services, built audience segments for each and then targeted them with specific campaigns that involved social media, email and direct mail.

    Troy why don’t you share the story about our distributor that cross sells based on product purchase.

    TROY - Sure, they distribute all types of office products. They were looking to automate the complimentary upsell. They provided a product table in the Right On software. When anyone ordered boxes, they immediately got an email notification asking if they needed to add tape and other complimentary products to the order.

    New product roll-outs are a great way to touch an existing customer. Based on engagement activity, you can send alerts to a sales team member. For example, a customer clicks through on an email, downloads a product brochure and liked a post on Facebook about the new product. Pretty good indicator they are going to have interest in the new product. That can all be tracked through the software and then the sales rep notified
  • LORI - The appreciate stage are you brand loyal advocates. You want to take care of these people. This should be high touch, but high touch doesn’t mean that it can’t be automated.

    For example, one of our customers sends a box of chocolates out on their customers Business Anniversary. It’s done automated through the software by sending a CSV file to the printer and shipping company.

    Anything you can do to delight and surprise a valued customer is going to pay you dividends. One of our customers has the President of the company place a phone call once a year to anyone in the Appreciate stage. The President gets an automated email each month with the list that he should call

    Set-up forums on social media and/or events for your best customers to interact and share best practices/user conferences

    This is a great group to set up Vip or loyalty programs. They could earn points not only by purchasing, but also by engaging. Send a tweet and earn 5 more points on your loyalty card

    This is a great group to ask their options – surveys/focus groups. This could be customer satisfaction or it could be new product/services ideas. Definitely a group for you to ask to do online reviews or to provide recommendations.
  • LORI
    We’ve talked about actions that can be taken at every stage of the Lifecycle. Although I’ve been advocating it is “bigger than a campaign” we know that campaigns are a big part of the touch points. I think the mistake I see made is that people get caught up in getting a campaign out the door and they don’t take the time to really think through what they want the campaign to do.– 10 key elements need to be thought through that will help drive performance. I’ll go through this with an example of a technology company we work with who targets Healthcare.
    Objective: What is the overall objective of the campaign –
    -Secure 15 new Hospital or Primary Care Physician Offices as customers in 3 months. .  
    2. Audience and Source: (Who specifically will be the audience for the campaign – (demographic, firmagraphic, purchasing, personas, past action/lack of action) – and then from which sources will this audience or segment(s) be derived?
    -Hospitals IT Departments and CFO. Existing database and Industry database 1 (append/update).
    3. Key Messages: What are the key messages for the campaign – that will be leveraged and utilized throughout the different tactics and treatments. Rising Healthcare Costs, Privacy, Data Security                    
    4. Value Prop supported:   Caring about Customer Care.
    5. Channels (emails, DM, social, landing pages, display):  DM, Email, Telesales, Webinar
    6. Content Assets: What are the marketing assets that will be utilized (existing or new that will need to be developed)  Recorded Webinar, Data Sheets, Micro Sites. Mobile App,
    7. CTA: (Calls to Action) Schedule meeting with Sales Rep (face to face)
    8. Measurement Results:  1) Engagement: Webinar attendees.  Number of meetings (ideally face to face) 2. Movement: Utimlately –how many did we move to the Win stage, and how many became a new customer.
    9. Schedule:   <60 days from today to go live. (one time event, ongoing) –Who long will the campaign be active, when does someone fall into the campaign/out.
    10.Costs:  $45 or $60k.  (anticipated investment – hard costs and soft) and a potential return.
  • LORI – we are about ready to wrap things up, so Troy and I are going to go through our favorite parts of the webinar.

    Absolutely the first thing for me is quick wins. I see how happy our clients are when they have them. If you can pay for the software in the first 3 months – that’s a huge win.

    The second thing is the marketing funnel. I did not know the history of the old marketing funnel and it just makes sense that things have changed.

    Lastly, relevancy is a powerful thing! In our busy lives it is easy to overlook any information we receive that is not relevant to us at the exact time we are engaged. With customer lifecycle marketing you can easily target the right person at the right time with the right message.
  • TROY
    It’s all about the customer – your one and only differential.

    Lifecycle is a business solution – it can have a positive effect on marketing, sales, client success, and product..

    Results are not just about opens and clicks with leads. It’s about which of those leads are purchasing. What current clients are buying more or are positioned for an up-sell?

    Mike- you want to close it out for us?
  • MIKE
    Before we open it up for questions, we have a few items we will be providing post webinar;

    Right On Interactive just finished their lifecycle e-book. It’s being released for the first time to the webinar registrants.
    We’ll also provide a recording of the webinar, in case you want to share it with any other team members or colleagues.
    Lastly, just want to invite you to reach out to Lori or me if you would like a complimentary discovery session. We know everyone is in a different spot with their martech tools, and we would be delighted to learn more about your business.
  • Sheila/Tyler
    Provide any questions. If we don’t get any, you can use these 3:

    Can you tell me the difference between Lifecycle stages and the Opportunity stages in my CRM?
    Since this is a Business tool, who ultimately is logging into a Lifecycle marketing tool?
    What size company should use a Lifecycle Marketing tool?

  • CONCLUSION
    Thank you again for attending today’s webinar. And thank you Lori and Karen for your perspectives on this important aspect of today’s marketing journey. If you have any questions or comments about today’s content, please feel free to reach out to me. We appreciate your time and have a great rest of the day.
    End Webinar
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