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Effective Data-Driven Decision Making for High Performance Demand Generationor demand generation 20130307

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You cannot rely on intuition and experience alone to make critical marketing investments. Data can help us optimize our marketing efforts, predict results, justify spend and validate our impact and influence on revenue. But to do that, you need to have the right data.

This webinar discusses how to capture the metrics you need and use them to make decisions that will deliver significant performance gains.

Covered in this presentation:
1. Key metrics every B2B marketer must focus on
2. A framework for setting up a solid data foundation
3. The difference between data and insights
4. When and how to act on data-driven insights

Published in: Business
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Effective Data-Driven Decision Making for High Performance Demand Generationor demand generation 20130307

  1. 1. Data-driven Strategies for Demand Generation A Digital Solutions Firm delivering Marketing and Technology SolutionsNew York . Toronto . Phoenix . Los Angeles . London. Dubai . New Delhi
  2. 2. Presenter Shawn De Souza Demand Generation Practice Director Background: Modern Marketer Savvy Technologist Expertise in B2B and B2C Areas of Specialization: SEO/SEM, Social, Mobile, Lead Management, Campaigns, CRM, Analytics 1
  3. 3. About eDynamiceDynamic is a digital consultancy that helps clients acquire andengage customers through cutting edge interactive solutionsExperienced. Founded in 1999Trusted. Diverse business critical projects delivered formid-size to Fortune 500 organizationsVersatile. Experience across diverse verticals, includingFinancial Services, Technology, Legal, Retail, Media &Publishing, Education, Travel and Hospitality and EnergyGlobal. Locations in United States, Canada, Middle-East andIndia 2
  4. 4. eDynamic supports key stages in the customer lifecycle 3
  5. 5. eDynamic empowers the marketerOur capabilities center around empowering the marketer duringthe entire customer lifecycle, from acquisition to engagement 4
  6. 6. Why Data? 5
  7. 7. 6Information is not knowledge - Albert Einstein
  8. 8. Weather Data – for Meteorologists 7
  9. 9. Weather Data – for Meteorologists 8
  10. 10. Weather data for you and me 9
  11. 11. Stock Markets 10
  12. 12. New(er) Technologies 11
  13. 13. 12
  14. 14. 13
  15. 15. The Data Tsunam 14
  16. 16. VolumeAmplifies and creates reach 15
  17. 17. VelocityRapid insights provide competitive advantage 16
  18. 18. VarietyEveryone’s an advertiser, broadcaster and data generator People with people People with Machines 17 Machines with Machines
  19. 19. The Connected Customer 18
  20. 20. Channels most commonly used 19 Eloqua and CMO.com B2B Benchmark Study Q4 2012
  21. 21. Quick Poll 20
  22. 22. Measuring the basics37% do not track the revenue (closedbusiness) generated by campaigns.29% do not measure sourced-opportunities generated by campaigns.20% do not measure the number of new 21sales leads generated by marketingcampaigns. Source: Pardot
  23. 23. It’s still a challenge“The top challenge for marketersremains to better quantify andmeasure the value of marketingprograms, in spite of improvementsin accountability over previousyears.”- CMO Council 22
  24. 24. It’s about credibility“Seventy-six percent (76%) of B2Bmarketing professionals agree orstrongly agree that their ability totrack marketing ROI gives marketingmore respect.”Source: Forrester Research 23
  25. 25. The Data Challenge 24
  26. 26. 25Signal or Noise?
  27. 27. Information or Insight ? 26
  28. 28. Tracking the digital footprint 27
  29. 29. 28Campaign Timing
  30. 30. 29
  31. 31. Different Data. Different Databases. 30
  32. 32. 31
  33. 33. Key steps to high-performancedemand generation 32
  34. 34. Key steps to data-driven demand gen1. Understand what you want to achieve2. Create a solid data foundation3. Track critical touch-points in the customer life-cycle4. Integrate your systems5. Test and learn6. Visualize and communicate results 33
  35. 35. Understand whatyou need to achieve 34
  36. 36. Focus on what matters1. Think like a CEO/CFO2. Speak the language of business3. Align marketing objectives with business objectives4. Connect marketing activities and investments with business outcomes5. Define What to measure 35 When to measure How to measure
  37. 37. Plan for Measurement1. What business outcomes are you trying to impact?2. How much do you expect this program/activity to contribute?3. How will you know that this program achieved the objective(s)?4. What metrics would you expect to see?5. When would you know to change course?6. What data will help you understand our current state?7. What data and metrics will communicate the program’s effectiveness and value? 36
  38. 38. 5 questions to guide your measurement insight1. What are your specific objectives for marketing investment and how will you connect your investments to incremental revenue and profit?2. What impact would a 10% change in your marketing budget (up or down) have on your profits and margins over the next year? The next three years? Five?3. Compared to relevant benchmarks (historical, competitive, marketplace), how effective are you at converting marketing investment into revenue and profit growth?4. Which are appropriate targets for improving revenue leverage (defined as dollars of profit over dollars of marketing and sales spend) over the next few years? Which initiatives will get you there?5. What questions do you still need to answer with regard to your 37 knowledge of the return on marketing investments? What are you going to do to answer them? Source: MarketingNPV
  39. 39. Primary Marketing Metrics aligned to Business Goals1. Revenue Net new deals2. Profit Customer expansion3. Market Share4. Margin Marketing Effectiveness and Efficiency5. Leads sourced or influenced by marketing 38 MQLs and SALs Opportunities
  40. 40. Secondary Marketing Program Metrics1. Registrations, Conversions or Inquiries2. Lead Quality by Lead Score3. Spend (Cost per Conversion, Cost per Qualified Lead)4. Engagement CTRs Attention ( Time on site, Interact with Content) PR and Social Comments, Tweets, Likes, Shares 395. Etc.
  41. 41. The Time Dimension 40 Source: Lenskold Group
  42. 42. Measurement Don’ts1. Use Vanity metrics2. Measure what is easy3. Focus on quantity over quality4. Focus on activity, not results5. Efficiency instead of effectiveness 41 Source: Marketo - Definitive Guide to Marketing Metrics and Analytics
  43. 43. 42
  44. 44. Create a solid datafoundation 43
  45. 45. Reliable data leads to better decisions1. Data Governance Data quality ■Is it current? ■Is it correct? ■Is it consistent? Completeness Compliance 44
  46. 46. Treat data as a portfolio1. Data Governance Data quality ■Is it current? ■Is it correct? ■Is it consistent? Completeness Compliance 45 Source: Marketo
  47. 47. Determine Your Data Profile1. Prospect/Customer Profile  Contact Information  Company Information  Ideal Customer attributes – revenue size, industry2. Prospect/Customer Engagement  Website Visits  Email Opens, Clicks, Forwards  Blog Comments  Social activity3. Lead Type Categorization  Source/Channel/Industry/Job Role 46
  48. 48. Prioritize and tracktouch-points 47
  49. 49. 48
  50. 50. 49Source: Forrester
  51. 51. Lead management workflow 50
  52. 52. Categorize your Marketing Channels1. Purchased Lists2. Web3. Social4. Partner/Reseller Channel5. Event6. Etc. 51
  53. 53. Setup and manage your tracking codesElement # Characters Example 1. Funnel 3 OSA a. Outside Sales Funnel A OSA b. Outside Sales Funnel B OSB c. Outside Sales Funnel C OSC d. Marketing Funnel D MKD 2. Quarter 3 (408) 3. Campaign Type 4 EMRL a. Email i. Rented List EMRL ii. House List EMHL iii. Internal List EMIL iv. Brand List EMBL Registered Users Free Trial ( Vscape Lite Users) b. Webinar WEBS c. Banner Ads BNAD d. Online Third Party ONTP e. Conference / Tradeshow CONF f. Website VFMW h. PPC Example: g. Public Relations PBRL PPCS i. Social WB20 j. List Development LDEV 4. Vertical / Market Focus ( HO) 2 Characters a. Industry A b. Industry B Source code = MKD113EMBLIAB2BWebinarData-Driven070313DE IA IB c. DISTRIBUTION PARTNER DP d. OTHER OTHR e. MEDIA MD 5. Vendor Variable 6. Offer Variable 7. Drop / Start Date 6 Mmddyy 8. Campaign Element (if multiple types of 2 NA promotion, then the specific type for this source code, else use code “00”) a. Not applicable or None 00 b. Dedicated Email DE c. E-newsletter sponsorship ES d. Banner / Text Ads e. Whitepaper/ Offer Listing BA LI 52 f. Company Listing / MicroSite CL g. Other OT h. Fax FX
  54. 54. A note about attributions 53
  55. 55. Insert your tracking codes 54
  56. 56. Integrate yoursystems 55
  57. 57. Identify your systems 56 Source: Chiefmartec
  58. 58. Understand your technical infrastructure 57
  59. 59. Get the systems talking to each otherWeb CMS, market automation and CRM offer a common view ofthe customer that drives personalization across web and email 58
  60. 60. Test and learn 59
  61. 61. Test, review, optimize 60
  62. 62. Visualize your data 61
  63. 63. Tell a story 62 Source: Lenskold Group
  64. 64. What’s the MROI? 63 Source: Eloqua
  65. 65. Visualize your impact 64 Source: Eloqua
  66. 66. It doesn’t have to be pretty! Q4 2012 65
  67. 67. Questions? 66
  68. 68. Contact UsShawn De Souzashawn.desouza@edynamic.netTwitter: @shawndesouzawww.edynamic.net 67
  69. 69. Thank You 68

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