Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Viewers also liked (20)
Similar to Driving Marketing Automation Success Across the Enterprise: Revenue Funnel
Similar to Driving Marketing Automation Success Across the Enterprise: Revenue Funnel (20)
Recently uploaded
Recently uploaded (20)
Driving Marketing Automation Success Across the Enterprise: Revenue Funnel
- 1. © 2014 Marketo, Inc. Marketo Proprietary and Confidential. Driving Marketing Automation Success: Revenue Funnel June 26, 2014
- 2. Shyna Zhang Enterprise Marketing Sr. Product Marketing Manager Allison Dyer Enterprise Digital Services Solutions & Strategy Consultant Today’s Presenters © 2014 Marketo, Inc. Marketo Proprietary and Confidential.
- 3. “A well-defined, carefully measured funnel is one of the most powerful tools that an organization has at its disposal.” - Pipeliner CRM Blog - http://blog.pipelinersales.com/ © 2014 Marketo, Inc. Marketo Proprietary and Confidential.
- 4. Marketing Strategy Assess your organization’s sales and marketing strategy, maturity, and overall readiness Cross-Functional Alignment Exercises and workshops designed to align your resources and team roles Sales & Marketing Funnel Evaluating your technology stack and understanding the impact it has on the overall success Measurement & Reporting Determining the key reporting metrics used by your team, determining how to measure future success, and ultimately building the Business Case Enterprise Focus Areas for Success
- 5. Marketing Strategy Marketing Maturity Matrix Marketing Strategy Strategic Campaign Roadmap Cross Functional Alignment Education & Best Practices Resources & Team Roles Sales & Marketing Process Definitions Joint Execution Plan Sales & Marketing Funnel Lead Lifecycle Lead and Opportunity Stages SLA’s & Alerts Measurement & Reporting Key Performance Indicators Business Case Metrics that Matter Reporting Cadence Enterprise Focus Areas for Success
- 6. The Leaky Funnel Syndrome
- 7. Most Common Problem Today Traditional Marketing Focus Warm Leads Lead Out Sales Traditional Sales Focus
- 8. How can you help me?
- 9. Leadership & Key Personnel Marketing Leadership Sales Leadership IT Leadership Business Unit Leadership CMO VP Marketing Digital Marketing Leader Campaign Strategist (Email and Even Social Media Director KPI’s/Analytics Leader Technical Marketing Leader CRO VP Sales Sales Ops Manager Sales Director Field Sales Manager Inside Sales Manager CRM Administrator CIO Systems & Technology Director of IT Systems Admin CRM Admin General Manager BU Director Product Marketing Product Management Brand Manager
- 10. Defining the Stages: Top of Funnel Awareness to Interest Marketing Qualified Lead (MQL) Anonymous Lead Opportunity Sales Qualified Lead (SQL) Internal Sales Accepted (SAL) Closed Won Renewal Loyal Enabling Technology to: Dynamic “Zero Moment of Truth” • Anonymous Lead Marketing • Website Personalization Based on Lead Data in CRM • Content Auto Discovery • Content Recommendations Inbound Marketing • Search Engine Optimization • Progressive Profiling on Web Forms
- 11. Anonymous Lead Opportunity Awareness to Interest Sales Qualified Lead (SQL) Marketing Qualified Lead (MQL) Internal Sales Accepted (SAL) Closed Won Renewal Loyal Enabling Technology to: Manage the One to One Conversation • Segmentation Filters • Workflow Actions • Real-Time Triggers • Social Applications • Dynamic Content • Engagement Engine (content marketing) • Scalability Defining the Stages: Middle of Funnel
- 12. Anonymous Lead Opportunity Awareness to Interest Sales Qualified Lead (SQL) Marketing Qualified Lead (MQL) Internal Sales Accepted (SAL) Closed Won Renewal Loyal Enabling Technology to: Integrate with Opportunity Management • 100% Native AppExchange App • Best Bets, Watch Lists, and Rep Actions • Send Trackable Templates from CRM System of Record • Leads, Contacts, Accounts, Opportunities and Custom Objects • Management and Custom Views Defining the Stages: Middle of Funnel
- 13. Anonymous Lead Opportunity Awareness to Interest Sales Qualified Lead (SQL) Marketing Qualified Lead (MQL) Internal Sales Accepted (SAL) Closed Won Renewal Loyal Enabling Technology to: Build Loyalty • Social Widgets • Automated Social Follow-up Use Key Performance Indicators • Revenue Modeller • Single and Multi-Touch Reporting • Trend Analysis • Drag n’Drop Ad-Hoc Reporting • Send Trackable Templates from your CRM Defining the Stages: Bottom of Funnel
- 14. New Marketing Rule #1
- 16. A New View: The Revenue Cycle
- 17. Marketing Automation is designed to address the “Leaky Funnel”. At each stage of the marketing and sales process. Marketing Automation not only assists with generating lift to organizations it enables complete visibility into the prospects and customer journey. How Marketing Automation Transforms this Process
- 18. No Lead Left Behind: Service Level Agreements Day 0 Notification 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 If stale, alert executives
- 19. Addressing Funnel Throughput According to the Current RAD, there are 2,939 organizations in the TAM for the develop bucket. A conservative lift has been applied to each lift generating lever to show Marketing Automation Impact . For Marketing to see a long term positive return, a lift needs to be generated from Marketing Automation. To create this lift, marketing needs the right tools to better track conversions throughout the marketing and sales process, specifically improving overall conversions in early marketing stages and throughout the funnel. o Average Deal Size o Lead Stage Conversion Rates o Touch to Inquiry Percentage o SQL to Close Rate How does this help Marketing impact revenue?
- 20. Completed Revenue Funnel Model Once your organization is aligned on a Revenue Funnel Model… your functional teams can start thinking in terms of Funnel Campaign Execution. This means development of marketing programs specifically designed to assist at certain stages of the revenue cycle.
- 21. Strategic Campaign Roadmap – Mapped & Built Out Email, Targeted Marketing Website Form, Video, Whitepaper Landing Page Email w/ Proof Point 1 + Whitepaper Email w/ Proof Point 2 + Calculator Pricing + Sales Stage 7 Campaign Roadmap Program Selected & Launched ThreeProgram Selected & LaunchedTwoProgram Selected & LaunchedOne Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Funnel Stages
- 22. Is a consultative, collaborative, & flexible assessment involving Marketo Innovate Consultants + Your Functional Teams Focused on determining sales & marketing strategy, cross functional alignment, sales & marketing funnel, and measurement & reports to deliver strategic recommendations and plans for improvement. INNOVATE is designed to provide you a vision of your marketing automated future that aligns to your business and it’s strategic business objectives. in·no·vate
- 23. The Value of Innovate for your Organization Overall Funnel Management – Scoring – Service Level Agreements – Funnel Strategy Strategic Recommendations and Path to Success – Understanding of how your campaigns compare to best practice – Defined strategy for marketing initiatives – Planning and agreed upon path to success – Facilitated workshops Understanding of Business Impact of Marketing Automation – Comparative Analysis of your success metrics – Complete ROI Case Study
- 24. • Funnel Management is critical to the success of transformational marketing • Engage with Marketo to map your resources, create clear hand-offs between teams, and implement a joint execution plan Takeaways & Q&A Thank you! adyer@marketo.co m szhang@marketo.co m
Editor's Notes
- What we typically see is one of three things: 1. No funnel 2. No definitions to stages in a revenue funnel 3 AND No campaign alignment to this process What you want is: Infinite loop of communication
- Why? 1. Weak lead capture. How many of your website visitors today will bounce off your website, never to return again, because you did not give a compelling enough reason for them to opt in on your site? Solution: A compelling magnet to attract the opt-in. Examples include a free consultation, report, webinar, or demo. 2. Failure to educate and build trust with your leads. When we charge out of the gate with a desperate sales pitch, we may skip the important process of educating and building trust with our prospects. Some are prepared to be sold. Others may need to develop a stronger relationship of trust with you before they are ready to take a step forward. Solution: Deliver value to new prospects through educational content. 3. Labeling leads as "bad" merely because they aren’t ready to buy today. Too often, our zeal for sales makes us impatient with people who are not ready to purchase right now. Many of these prospects are great prospects, but their current situation is causing them to delay. Solution: An automatic, long-term, lead-nurturing, follow-up campaign. 4. Failure to identify and overcome common objections. Too often we drop people out of our funnel because we shy away from addressing typical objections head on. What if we were to look at each objection as an opportunity to restate our value proposition to the prospective customer? Solution: Systematically identify and overcome common objections. 5. Unwillingness to create an impressive experience for your new customers. It doesn’t take much to wow our new customers. Too often we make the sale and stop there. Delighting the customer is the key to repeat and referral business. Solution: Establish a follow-up campaign that builds relationships with customers and lets them know that you care.
- We also understand that CHANGE MANAGEMENT and changing processes across functional teams is also hard. A typical organization will have these functional teams involved in alignment around the revenue funnel and marketing/sales processes.
- What we see – with customers is one of three things typically 1. No revenue or sales funnel 2. No revenue cycle 3. No campaign alignment to the defined funnel stages What you want is the ability to have an infinite loop of communication with your customers and prospects
- System support follow up – accountability etc
- When we talk to our customers, it really all boils down to your conversion rates. With a wider funnel and technologies to help manage larger volumes of inquiries, what strategies should be formulated to achieve success. Obviously we would love to employ and execute on all of these strategies, but that’s easer said than done. Increasing the number of leads is more a data opportunity than a tool opportunity and growing your deal size is more of a product/sales strategy than it is a marketing strategy. That’s not to say that marketing automation can’t help here, but marketing automations sweet spot is improving conversion rates.