Booth susina 2013-0828-final pdf version

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Booth susina 2013-0828-final pdf version

  1. 1. Marketing Automation Overview Booth Marketing Roundtable August 28, 2013 Steve Susina Director of Demand Generation Services Crain Communications / Business Insurance Magazine
  2. 2. Page 2 | © 2013 Business Insurance • Publisher of Business and Trade Publications – Business (Crain’s Chicago Business) – Healthcare (Modern Healthcare) – Marketing (BtoB, Advertising Age) – Manufacturing (Automotive News) – Financial Services (Business Insurance) • Faced with Industry trends – Declining marketing budgets – Print a smaller proportion of mix – Emergence of Content Marketing – Shift to mobile devices About Crain Communications Business Media still plays a vital role in educating the customer universe
  3. 3. Page 3 | © 2013 Business Insurance Agenda • Marketing Trends & Background • Marketing Automation Overview • Examples
  4. 4. Marketing Trends - 2013
  5. 5. Page 5 | © 2013 Business Insurance How business used to sell . . . • Buy or rent lists • Sort by region/rep • Assign • Make reps spend their days cold calling • Profit Supported by Brand Advertising & Public Relations
  6. 6. Page 6 | © 2013 Business Insurance What’s happening? Demand Generation Is Primary 2013 Marketing Goal Source:
  7. 7. Page 7 | © 2013 Business Insurance 67% of Marketers budgets show an increase in digital spend Source:
  8. 8. Page 8 | © 2013 Business Insurance 2 to 1 spending advantage for Direct Response vs. Branding Banners & Display Lead Generation & Nurturing
  9. 9. Page 9 | © 2013 Business Insurance Every Marketing Survey Includes Some Version of This Chart Marketing Budgets Present Advertising Content, Lead Gen & Inbound Past
  10. 10. Page 10 | © 2013 Business Insurance New Focus Brings New Challenges • 40% to 70% of the sales process takes place before the first interaction with the vendor – What does your audience need to know? – How do you make sure you get found? – How do you know when your prospect is looking at it? Source: Marketo, Sirius Decisions, Forrester Research
  11. 11. What Is Marketing Automation?
  12. 12. Page 12 | © 2013 Business Insurance 3 Basic Objectives of Marketing Automation Systems: Generate Leads Nurture Leads Qualify Leads
  13. 13. Page 13 | © 2013 Business Insurance Reality is more complex Source: Forrester Research
  14. 14. Page 14 | © 2013 Business Insurance Translates to the “Demand Waterfall” Prospect MQL SAL SQL
  15. 15. Page 15 | © 2013 Business Insurance The “old” Sirius Decisions Demand Waterfall Prospect MQL SAL SQL
  16. 16. Page 16 | © 2013 Business Insurance The “new” Sirius Decisions Demand Waterfall Prospect MQL SAL SQL
  17. 17. Page 17 | © 2013 Business Insurance DemandGen – “Hourglass” Prospect MQL SAL SQL
  18. 18. Page 18 | © 2013 Business Insurance Regardless of Process, Optimization is goal Move Leads from stage to stage Attract & Engage new prospects Optimize conversions Pass to sales for closure Measure
  19. 19. Page 19 | © 2013 Business Insurance Enter Marketing Automation.
  20. 20. Page 20 | © 2013 Business Insurance What is Marketing Automation? 1. Software that gives a company the tools it needs to accelerate the sales funnel: – 10% Increase in Revenue (Gartner) – 26% Increase in Lead Conversions (Aberdeen) – 33% improvement in Cost Per Lead (Forrester) 2. Software that Manages time consuming, complex & repetitive tasks: – Campaign Management – Monitoring Website activity – Delivering content – Email Marketing – Lead Database management – Analytics – Behavior/Tracking – Demographics
  21. 21. Page 21 | © 2013 Business Insurance Practically Speaking • Deliver Marketing Content – Right mix of information – Right stage of the buying cycle – Delivered via a structured systematic approach that requires minimal active intervention • Rate Engagement – Monitor engagement with relevant content – Reflect relative importance of engagement • Qualify to Buy-Ready – Identify the behavioral signals that suggest someone is ready to speak with a sales professional.
  22. 22. Page 22 | © 2013 Business Insurance My Working Definition of Marketing Automation • Capabilities that make it easy for you to deliver: – The right content – Via the right environment – Using the right tools • To manage your: – customer data – marketing content – marketing engagement • To help you: – Identify potential sales prospects early in the buying cycle – Assist them (and monitor them) as they move through the buying cycle – And turn them into Qualified Leads Customer Database Marketing Content Engagement Strategy
  23. 23. Page 23 | © 2013 Business Insurance Market History & Consolidation:
  24. 24. Page 24 | © 2013 Business Insurance Basic Components of an MA system: • Database of Prospects/Leads • Digital Asset Creation Capabilities – Landing Pages – Registration Forms – Email Messages – Content Management (for images, PDFs, etc) • Marketing Campaign Automation – Email Marketing (Batch & Blast) – Triggered Events – Sequenced Events • Lead Evaluation (Scoring) Capabilities
  25. 25. Page 25 | © 2013 Business Insurance Why? Managing Complex & Repetitive Tasks: e.g. webinar • Asset Creation: – Email Invitation – Landing Page – Registration Form – Thank-You Landing Page – Calendar Reminder – Thank-You Email – 24 Hour reminder – 1 Hour Reminder • Programming: – Send Invitation – Collect Data from Registration Form – Send Thank-You and Reminder messages – Send registrant data to Webinar hosting service – Send One follow-up message to attendees – Send a different one for no-shows
  26. 26. Page 26 | © 2013 Business Insurance Lead Scoring • Working Definition: “A shared sales and marketing methodology for ranking leads in order to determine their sales-readiness.” – Increased Sales Effectiveness: Sales reps focused on the most ready leads – More effective re-marketing and recycling of leads – Ability to filter non-leads from marketing programs (and handoff to sales) – Self-selection of prospects by monitoring engagement Image Source: BizLeader.co.uk Ready Now Not Ready Yet Not a lead Scoring Methodology/Threshold
  27. 27. Page 27 | © 2013 Business Insurance Lead Scoring Behavioral (Do They Want Us?) • Download a White Paper • Visit certain web pages • Open a relevant email • Register & attend a webinar • Sign up for your newsletter • Undesirable – Visit the Career Center – Unsubscribe from mailing lists Demographic (Do We Want Them?) • Company Size • Number of Employees • Purchase Influence • Job Title – Level & Category • Undesirable – Work for a competitor – Wrong Industry – Wrong job title
  28. 28. Page 28 | © 2013 Business Insurance Nurturing Example • Action: Request Campaign: Welcome Email Series 1. Call to action: Sign up for segmented newsletters 2. Call to action: Sign up for “Solution Arc” 3. Call to action: Watch Video 4. Call to action: Send message to publisher
  29. 29. Page 29 | © 2013 Business Insurance Risk Manager Chief Financial Officer Chief Operations Officer Business Process / Function Owner Early Stage Pain ID Mid Stage Solution ID Mid Stage Evaluation Late Stage Selection 3rd-party whitepapers, educational webcasts. Speeches at industry events, public relations, other thought leadership efforts Competitive comparison charts, fact sheets, implementation plans Internal whitepapers, sponsored webcasts, case studies, customer testimonials Source: Annuitas Group, Business Insurance Product demos, short videos, product specifications, brochures, cost comparisions, business case tools Segmented Lead Lifecycle Nurturing Combine Audience segmentation & Buying Cycle
  30. 30. Page 30 | © 2013 Business Insurance The Right Environment Attract • Traditional Marketing – Brand Advertising – Direct Mail/Email – Trade Shows • Emerging or “Inbound” Marketing – Search Engine Optimization – Social Sharing – Community marketing Segment • Identify Customers – Industry – Product – Geography – Size • Serve the end-to-end buying cycle for each • Reflected in your website
  31. 31. Page 31 | © 2013 Business Insurance • Top Of Funnel Audience Generation: 1180 Leads Generated – 1180 leads into campaign (webinar attendees, white paper downloads) • Nurture to Marketing Qualified Status: 102 Leads Qualified – Content Offers aligned to buying stage – Scoring based on engagement (clicks, downloads of campaign and onsite content) – Transfer when combined engagement reaches Lead Score threshold • Sales Accepted Leads: 25 Matched Sales-Qualification Criteria – Fits client target audience to engage a sales person (specialty broker): – Average Deal Size: $2 million – Pipeline: 25 x $2 million = $50 million – Customer has identified one likely prospect (to date) Campaign Value: $50,000 Investment $2 Million potential revenue from a $50,000 investment Lead Nurturing Performance example:
  32. 32. Page 32 | © 2013 Business Insurance Early Stage • Audience Acquisition – 16,093 Page Views w/ad – 132,522 Newsletter Views* – 271,123 Email Invitation Messages delivered – 14.1% Open Rate – 1.1% Click through rate Late Stage • Nurturing Campaign – 4,585 Messages delivered – 34.7% open rate – 12.9% click through rate Deeper Engagement In Later Stages of Campaign • 246% increase in Email Open Rate • 1172% increase in Click Through Rate * 13x in Specialty Risk Newsletter distributed to 10,194 emails Nurturing Effect on Engagement:
  33. 33. Case Studies Marketing Automation Enabled Lead Generation Campaigns
  34. 34. 2 Examples • Basic White paper Download – SEO, Email, Social inbound link – Generate registration in exchange for download (gated content) • One Click/No Form Download – Still used to generate a lead – Marketing Automation enables offer & tracking without collecting any (additional) data
  35. 35. Page 35 | © 2013 Business Insurance Example 1: Basic White Paper Offer
  36. 36. Page 36 | © 2013 Business Insurance • Website Template: • Marketing Automation Template: Difference between Web Page & Landing Page Why? Drive to a single CTA
  37. 37. Page 37 | © 2013 Business Insurance Progressive Profiling Forms
  38. 38. Page 38 | © 2013 Business Insurance Progressive Profiling Forms
  39. 39. Page 39 | © 2013 Business Insurance Landing Page Template Template Template
  40. 40. Page 40 | © 2013 Business Insurance Drag & Drop to Create Landing Page Rich Text Form Image Button is programmed to open a 2nd landing page . . .
  41. 41. Page 41 | © 2013 Business Insurance Follow-Up or Thank You Landing Page
  42. 42. Page 42 | © 2013 Business Insurance Patterns start to emerge Rich Text Image Template Template
  43. 43. Page 43 | © 2013 Business Insurance The Invitation email . . . Button is programmed to go to landing page. . .
  44. 44. Page 44 | © 2013 Business Insurance And again, the patterns. . . Rich Text Image Template Template Image Button is programmed to go to landing page. . .
  45. 45. Page 45 | © 2013 Business Insurance Behind the Scenes – Send an Invite:
  46. 46. Page 46 | © 2013 Business Insurance Behind the Scenes – Triggered Activity:
  47. 47. Page 47 | © 2013 Business Insurance Behind the Scenes – Campaign Flow:
  48. 48. Page 48 | © 2013 Business Insurance Example 2: Reduce Registration Friction • Studies: there is an inverse relationship between number of fields and number of completions • Marketo Progressive Profiling Example – Reducing form from 9 fields to 5 field significantly increased form completion rate – 45% improvement over baseline • Theoretically, if we have enough information we can we eliminate registration form altogether – Data exists in Marketo (Name, Company, Job Title, Phone, etc.) – Activity is monitored (Clicks link in Email)
  49. 49. Page 49 | © 2013 Business Insurance Normal Registration Flow • Normal process: – Select target list – Send Email – CTA direct to landing page – Landing page has form – Completed form represents registration for download or event • Conversion metrics at each step – Sent, Opened, Clicked, Registered
  50. 50. Page 50 | © 2013 Business Insurance One Click Registration Flow • MA Enabled process: – Select target list – Filter for each required field using “Is Not Empty” – Send Email – Personalize the message – CTA is “One Click Register” – Post Click processing is a triggered campaign based on the click • Conversion metrics at each step – Sent, Opened, Clicked, Registered
  51. 51. Page 51 | © 2013 Business Insurance Changes to my invitation:
  52. 52. Page 52 | © 2013 Business Insurance Asset Differences 1 – Tokens to display recipient data Two reasons to include the recipient’s name & email in the email message: • Show that I already have the info– not giving up additional personal data • In case the email is forwarded, link will register the person shown here
  53. 53. Page 53 | © 2013 Business Insurance Call to Action Links/CTA • My normal Post registration page • Included 3 times in different formats
  54. 54. Page 54 | © 2013 Business Insurance Alternative registration flow The full registration link • In case the recipient wants to invite someone else • In case the email is forwarded
  55. 55. Page 55 | © 2013 Business Insurance Results Photo Source: Thinkstock
  56. 56. Page 56 | © 2013 Business Insurance Comparison: White Paper Offer Normal Registration One-Click Sent 23,982 5,012 Opened 2,631 (11.0%) 761 (15.2%) Clicked 589 (2.5%) 73 (1.46%) Downloads 220 (0.92%) 73 (1.46%) Rate of registration about 1.5X Baseline
  57. 57. Page 57 | © 2013 Business Insurance Comparison: Webinar Registration Normal Registration One-Click Sent 81,503 25,369 Opened 88.9 (10.9%) 1,858 (11.3%) Clicked 348 (0.43%) 132 (0.52%) Registrations 128 (0.16%) 132 (0.52%) Rate of registration > 3X baseline
  58. 58. Page 58 | © 2013 Business Insurance Comparison: Infographic Download Normal Registration One-Click Sent 9,367 10,608 Opened 1,730 (18.5%) 1,855 (17.5%) Clicked 369 (3.9%) 353 (3.3%) Downloads 29 (0.31%) 353 (3.32%) Rate of Registration > 10X Baseline
  59. 59. Page 59 | © 2013 Business Insurance Marketing Automation Lessons • Define your sales process – “Staple yourself to a lead” • Segment your customers, plan content accordingly • Develop a plan to create content – Quality AND Quantity – Mapped to each stage of buying cycle. • Have marketing staff capacity, training & knowledge transfer – Time and effort savings . . . But only AFTER the learning curve • Look beyond email – incorporate events, social, etc. • Start small, replace existing processes, master capabilities and grow your program
  60. 60. Page 60 | © 2013 Business Insurance Lessons: • There is a different willingness to share information depending on asset type: – Low Willingness: Data Posters/Infographics or Video – High Willingness: Webinars, White Papers • Still, there is almost always some improvement using one-click/no-form response • This won’t work if you don’t use some form of Marketing Automation for click-tracking • Good data quality is essential – we used ReachForce data append before even thinking of this type of program.
  61. 61. Thank You

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