Money & Metrics: Bridging marketing finances with campaign data
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As an organization using Oracle Marketing Cloud, you're accustomed to having all your marketing campaigns and programs in one place, fully measurable, and integrated with other systems. You're automating campaigns, building advanced workflows, and tracking metrics. But what about the "I" in ROI -- the investment side of things? How are you managing your marketing spend, plans and budgets? Are your budgets, plans and actuals linked with everything you're doing in OMC? The financial side of marketing is often the one piece of the marketing puzzle that's not yet connected to the bigger picture. See more at: http://learn.allocadia.com/webinar-money-and-metrics/#sthash.F07OyXOQ.dpuf
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Money & Metrics: Bridging marketing finances with campaign data
- 2. James Thomas CMO Allocadia @jthomas_44 Mitch Patel Director, Marketing Solutions Oracle Marketing Cloud @mitchpatel Presenters Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 3. Agenda 1. Money & Metrics discussion 2. How Eloqua users can better understand their ROI using Allocadia 3. Q&A Housekeeping Engage with us. Ask a question or post a comment in the chat panel. We’ll answer questions in the Q&A at the end. Technical difficulties? Chat with our operator for assistance. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 4. The highest driver of change cited by CMOs (31 percent) was the need to show ROI. Fewer than 20 percent of B2B organizations are comfortable with their ability to quantify the returns on marketing spend. -- Ross Graber, Marketing Operations Strategies, SiriusDecisions, The ROI Dilemma Webinar 2014 “ Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 5. Poll How are you tracking your marketing spend and budgets? • Spreadsheets, lots of tabs! • Google docs • Allocadia • MRM solution • We don’t, finance tracks it! • Other How to Participate The poll will pop-up on your screen via ReadyTalk. Submit your answers! Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 6. Challenge 1: Money. Modern marketers struggle to report on how they’re investing their marketing dollars. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 7. Challenge 2: Metrics. Modern marketers struggle with marketing performance metrics. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 8. 2 Perspectives on Measuring Marketing Metrics Campaign Performance Drives better programming to accelerate marketing’s impact on demand creation How can we improve campaign performance and reallocate budget to high performing programs? Director of Demand Gen I want to know how much we’re spending and revenue we’re driving … across our marketing campaigns Marketing Performance Aligns spend, campaigns and results to measure marketing’s business impact How is marketing’s performance driving revenue and impacting the business? CMO I want to know how much we’re spending and revenue we’re driving … across the marketing organization, especially when demand isn’t our only goal Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 9. Poll What marketing metrics are you reporting on today? (Select all that apply) • Campaign metrics • Social metrics • Pipeline metrics • Performance metrics How to Participate The poll will pop-up on your screen via ReadyTalk. Submit your answers! Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 10. Challenge 3: Money & Metrics. As marketing's business impact expands, so must marketing accountability. Marketing does not yet have control over many of the areas that it is supposed to influence, making it tricky to fulfill this big-picture expectation. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 11. IDC’s CMO Hierarchy of Marketing Metrics Manage the company Manage the marketing function Manage marketing activities Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia CMOs must run their function as a full-fledged component of the overall business. Source: IDC CMO Advisory Services 2013
- 12. CMO and Executives Visibility & analytics into every aspect of the organization’s marketing performance and contribution to company revenue Marketing ROI across objectives, programs, teams, and segments Marketing Operations Easily unify marketing investments with strategy and programs, so they can optimize marketing performance Global alignment across teams, programs, audiences Field and Corporate Marketing Easy to use, spreadsheet-free way to manage marketing plans, budgets, investments, and returns Optimize and reallocate spend to high value programs Marketing Performance for all marketers Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia Drive a culture of performance across the marketing organization
- 13. CMO Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 14. How to get a full picture of your marketing performance A. Planning & Budgeting. Start with Marketing Investment $. B. Campaigns. Execute on your programs, tied to investment. C. Revenue Connect closed won revenue to programs and investments. CRM Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 15. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 16. The Path to Marketing Performance Investment Plan Investment Actuals Investment Forecast Returns Plan Returns Actuals Returns Forecast Revenue Driven Marketing Corporate ROI Strategy Planned ROI Actual ROI Predictive ROI Investment Strategy/Target Returns Strategy/Target Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 17. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia Manage your plan, forecast and actuals
- 18. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia Connect your spend to campaign + revenue data
- 19. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia Align your spend to objectives and strategic data
- 20. Track Campaign Performance: Cost-per metrics Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 21. Track Marketing Performance: Impact on Business Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 22. 3 takeaways: 1. The foundation of measurement starts with investment: the “I” in ROI. 2. Define what marketing performance means at your organization before you build your measurement models. 3. To get to a complete picture of your marketing ROI, you need to bridge marketing finances with campaign data and results. Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 23. Questions Post your questions in the Chat area. James Thomas CMO Allocadia @jthomas_44 Mitch Patel Director, Marketing Solutions Oracle Marketing Cloud @mitchpatel Join us live on | @jthomas_44 @mitchpatel #mpm4omc @allocadia
- 24. James Thomas CMO Allocadia @jthomas_44 Mitch Patel Director, Marketing Solutions Oracle Marketing Cloud @mitchpatel Thank you. Learn how you can tie marketing investments to your Eloqua campaigns and results using Allocadia. • Connect with Allocadia at hello@allocadia.com • Contact your Oracle Account Executive
Editor's Notes
- James to introduce call
- Mitch, introduce yourself / value of this webinar to OMC customers James, introduce yourself / value of partnership with OMC
- James to run through agenda Money & Metrics discussion: what’s working, what’s not How Eloqua users can understand ROI using Allocadia Questions
- James to share SiriusDecisions stat: The highest driver of change cited by CMOs (31 percent) was the need to show ROI Fewer than 20 percent of b-to-b organizations are comfortable with their ability to quantify the returns on marketing spend
- James to lead Poll will show in ReadyTalk (Brittany to open/close)
- James Introduce challenge 1: Modern marketers struggle to report on how they’re investing their marketing dollars. James/Mitch to discuss: [3-5 minutes] What’s working? Marketing budgets are growing, more dollars to invest Marketers have autonomy to control how they invest and manage their budget Starting to align budget and actuals within programs (ie. Eloqua Closed-loop Reporting) (Mitch) Mitch to add some talking points What’s not? No visibility into how marketing is investing at an aggregate or strategic strategic level (ie. demand vs. brand, product line, global initiative) No formalized marketing planning process in place to manage target, plan, forecast and actual spend Constant scramble to pull together marketing financials and reports Finance has more accountability on marketing spend than marketers. We need to flip that. Marketers need to be empowered to own, manage and control their spend. Mitch to add some talking points
- James/Mitch to discuss: [3-5 minutes] What’s working? Better visibility into campaign metrics and program performance Marketing sourced revenue and campaign influence is becoming more clear Mitch to add some talking points What’s not? Lack of visibility into marketing spend against campaign performance and business impact No agreement on definitive ROI metrics Lack of evaluation of non-demand generating activities Mitch to add some talking points
- Campaign Performance (Mitch to own) Campaign Effectiveness to improve programs (ie. open rates, conversions, impressions, funnel metrics velocity) Modern Marketers are achieving this today with Eloqua (Mitch) – ie. Closed Loop Reporting Marketing Performance (James to align to campaign performance) Marketing Effectiveness to impact business (ie. ROI – investment vs. opportunity pipeline influenced/revenue won) Marketing Marketers are on a journey toward this. Next stage for the modern marketer: a more complete picture of how marketing is doing Includes: effectiveness against demand gen AND brand, strategy aligned to business goals, headcount
- James to lead Poll will show in ReadyTalk (Brittany to open/close) What metrics are you reporting on? Campaign metrics (opens, click-throughs, cost per click/conversion, event leads, webinar registrants) Social metrics (impressions, likes, followers) Pipeline metrics (opportunities created, pipeline generated) Marketing performance metrics (marketing ROI, marketing impact on business financials)
- Stat on CEO Perspective of Marketing: 3 in 4 CEOs globally say they want marketers to become fully focused on ROI -- The Fournaise Marketing Group, 2012 Global Marketing Effectiveness Program https://www.fournaisegroup.com/CEOs-Do-Not-Trust-Marketers/?_fwaHound=14947961_18799_14947961_0_0_0_0 Marketing Spend/ROI stat: 90% marketers are not trained in Marketing Performance & Marketing ROI, and 80% struggle with being able to properly demonstrate to their Top Management the business effectiveness of their marketing spending, campaigns and activities Source: The Fournaise Marketing Group, Global Marketing Effectiveness Program https://www.fournaisegroup.com/marketers-not-trained-in-marketing-performance-and-roi/ James/Mitch to discuss: [3-5 minutes] Challenge 3: Money & Metrics. As marketing's business impact expands, so must marketing accountability. Marketing does not yet have control over many of the areas that it is supposed to influence, making it tricky to fulfill this big-picture expectation. However, more than ever, modern marketers are leveraging What’s working? Marketing’s impact on business is increasing – lots of opportunity, more responsibility, more influence, more pressure The rise of modern marketers: progressive, data-driven, creative scientists, driven by performance Marketing technologies are enabling better performance and better accountability. Best of breed platforms readily available for marketing Mitch talking points What’s the next step for modern marketers? What should modern marketers be thinking about to lead the next phase of transformation? Think in terms of the ‘business of marketing’ Build a culture of marketing leaders and instill revenue-driven thinking Create marketing ecosystem that enables marketers to drive performance, at all levels Mitch to add talking points [next slide: Marketing personas – what should each type of marketing care about to become performance- and revenue-drive]
- James to share IDC’s CMO Hierarchy of Marketing Metrics Align to personas on previous page As marketing's business impact expands, so must marketing accountability. CMOs must run their function as a full-fledged component of the overall business. IDC's Hierarchy of Marketing Metrics Framework for understanding the business context of what marketing measures and reports Identifies 3 areas that corresponds to different types of decisions: Corporate-level metrics: manage company productivity and performance as a whole Operational-level metrics: manage marketing resources and asset productivity, forecast the performance results of core marketing processes Execution-level metrics: manage and optimize the marketing tactics and to coalesce to produce operational-level metrics I
- James to discuss marketing performance for all marketers Speak to each persona type Summary: Difference performance metrics are all levels, however, all aligned to the same goal
- Mitch to share slide related to Eloqua users understand campaign performance OMC Customer stories
- James slide Allocadia acts as a source of plan that kicks of processes in other marketing systems. CUSTOMER STORIES. Mitch Stories: OMC Customers James – stories: Juniper Story: Surveyed for marketers at Juniper: #1 Pain point for marketing: budget management Challenge: CMO could not answer questions like: How much are we spending on this region? How much are spending on awareness vs. demand gen? Process: shoot templates to field teams as "urgent request" Went to analyst: SiriusDecisions - suggested to check out Allocadia Implemented Allocadia in 3 months across 220 marketers. Benefits: Visibility across marketing spend, Plan to Actuals, hit targets Ability to readjust in plan, before funds are committed Visibility to tie plans to actuals Good 'old fashion' budget management You get a target, if you don't spend it, it's gone. We haven't missed target for 3 years (within 1%). Other groups av. at 10% Result: Marketing doesn't miss their target, for the past 3 years (within 1-3% of spend year over year)
- James Completing your marketing ecosystem. As an Eloqua customer, you choose Eloqua - Best of Breed in Marketing Automation. Allocadia integrates with best of breed platforms/ Mitch Natural extension within the AppCloud / OMC Tying together best of breed
- James Here’s a more detailed view of what we do. This shows more from a data model perspective how we accomplish ROI and shows why we think investment data is the foundation for viewing true ROI. Utilizing the investment framework for the results framework makes achieving ROI more tangible and realistic for customers (especially once they’ve gone through implementing they investment framework with us). The framework includes tracking key operational metrics from target to forecast for both investments and returns. This then allows us to marry up investments and returns to get the full global ROI picture.
- James [Builds – there’s a lot] I think you can speak to this slide well Special notes: Details Panel – Objectives. “Taking the SiriusDecisions Objectives that Ross mentioned, we’re able to align the Objective with our programs. Details Panel – Program Family. “Further, we can align the SiriusDecisions Program Families with the programs as well. It becomes really easy for field teams to align PROGRAM SPEND to BUSINESS PRIORITIES. WHAT YOU GET: Your strategic plans, investments and budgets, all in one place. Because all of the budgets globally are brought together in one place, these become the critical strategic data points that your organization can now segment by. Let me know show you what I mean in the analytics.
- James [Builds – there’s a lot] I think you can speak to this slide well Special notes: Details Panel – Objectives. “Taking the SiriusDecisions Objectives that Ross mentioned, we’re able to align the Objective with our programs. Details Panel – Program Family. “Further, we can align the SiriusDecisions Program Families with the programs as well. It becomes really easy for field teams to align PROGRAM SPEND to BUSINESS PRIORITIES. WHAT YOU GET: Your strategic plans, investments and budgets, all in one place. Because all of the budgets globally are brought together in one place, these become the critical strategic data points that your organization can now segment by. Let me know show you what I mean in the analytics.
- James [Builds – there’s a lot] I think you can speak to this slide well Special notes: Details Panel – Objectives. “Taking the SiriusDecisions Objectives that Ross mentioned, we’re able to align the Objective with our programs. Details Panel – Program Family. “Further, we can align the SiriusDecisions Program Families with the programs as well. It becomes really easy for field teams to align PROGRAM SPEND to BUSINESS PRIORITIES. WHAT YOU GET: Your strategic plans, investments and budgets, all in one place. Because all of the budgets globally are brought together in one place, these become the critical strategic data points that your organization can now segment by. Let me know show you what I mean in the analytics.
- James Automation captures great returns metrics (likes, clicks, views) Naturally, leaders will ask: what did I spend to generate those clicks? Allocadia helps fills the void that our customers are asking for. Now you can answer the value of your cost-per metrics
- James Here’s a more detailed view of what we do. This shows more from a data model perspective how we accomplish ROI and shows why we think investment data is the foundation for viewing true ROI. Utilizing the investment framework for the results framework makes achieving ROI more tangible and realistic for customers (especially once they’ve gone through implementing they investment framework with us). The framework includes tracking key operational metrics from target to forecast for both investments and returns. This then allows us to marry up investments and returns to get the full global ROI picture.
- James / Mitch to summarize
- James / Mitch to answer questions