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Marketing Automation in 2016 with Marketingprofs

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- Background & state of marketing automation
- Obstacles and challenges with current systems
- What’s everyone looking for?
- Sales managers
- Sales reps
- Local businesses
- New strategies and tips for true automation
- Case study
- Q&A

Published in: Marketing
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Marketing Automation in 2016 with Marketingprofs

  1. 1. Marketing Automation in 2016 Strategies to Identify, Qualify, and Nurture Leads Like Never Before
  2. 2. Jeff Tomlin Co-Founder and CMO Vendasta | www.vendasta.com
  3. 3. Agenda ● Background & state of marketing automation ● Obstacles and challenges with current systems ● What’s everyone looking for? ○ Sales managers ○ Sales reps ○ Local businesses ● New strategies and tips for true automation ● Case study ● Q&A
  4. 4. “Traditional media companies that fail to actively restructure and innovate around sales and sales automation today will see a further erosion of market share tomorrow, ceding revenue to the growing list of digital competitors and alternatives in the local digital market.” The Inconvenient Truth Neal Polachek Greg Sterling
  5. 5. 2015 and 2016 will be remembered as the years of marketing automation. BUT...
  6. 6. Background Background ● 70% of marketers are either unhappy or only marginally happy with their marketing automation software ● 6 out of 10 marketers cite poor or inconsistent data quality, or lack of data, as their biggest challenge to producing personalized campaigns ● 44% of dissatisfied users say the software takes too long to implement, is difficult to learn, and is expensive. Source: http://customerexperiencematrix.blogspot.ca/2015/04/are-70-of-marketing-automation-users.html
  7. 7. Background Background ● On average, it takes 59% of businesses up to six months to fully adopt and implement a marketing automation platform ● 61% agree the implementation process is difficult ● 85% of B2B companies using marketing automation platforms feel they’re not using them to their full potential Source: http://www.slideshare.net/PepperGlobal/pepper-global-2014-marketing-automation-report
  8. 8. Obstacles that Prevent More Effective Use of Marketing Automation Budget constraints Poor integration between sales and marketing Poor infrastructure to collect/analyze data Lack of lead data & support from sales Complexity of marketing automation software Inability to find trained employees Poorly defined ROI Compatibility/interoperability issues Belief that current methods are ok Lack of performance standards Source: B2BOnline, Marketing Automation: Best Practices in a Rapidly Changing World 32% 32% 30% 30% 23% 19% 17% 14% 12% 12% Background
  9. 9. Background We ran into all of the same challenges: - Platform complexity - High costs - Hard to start using - Still only using a fraction of our capabilities Background
  10. 10. Aside from budget, the main obstacles with marketing automation are integration, complexity, and lack of data. In other words: nothing is easy or automated about it. Challenge
  11. 11. What’s needed: 1) Smarter systems and strategies 2) Niche platforms that address the unique needs for different spaces. Start by thinking of your key stakeholders. What does each of them need to do their jobs better? Solutions
  12. 12. Bob, Sales Manager Vern, Sales Rep Sally, Business OwnerMiranda, Marketing Manager
  13. 13. ● Personalized, relevant content that doesn’t cost an arm and a leg to produce ● Easy implementation that works out of the box ● Analytics to understand ROI What do marketing managers want?
  14. 14. What do sales managers want? ● In-premise visits or calls ● Expectation management for the manager’s team (and data to hold them accountable) ● Best sales practices and pipeline management with robust analytics ● Marketing after the sale to grow share-of-wallet What do sales managers want?
  15. 15. What do sales managers want? http://www.leadresponsemanagement.org/lrm_study ● Pleasantly persistent campaigns that follow best practices for sales ○ Contact leads 10x for max engagement ○ Alerts upon engagement so they can follow up quickly ■ Responding to leads within 5 minutes equals 900% increase in conversion ■ The odds of calling to contact a lead decrease by over 10x in the first hour What do sales reps want?
  16. 16. What do local businesses want? ● Relevant, prescriptive content ● Education: solutions to the problems they’re facing (and the ones they don’t know they have) ■ Marketing is about being helpful ● An agency of record; one login and one contact for all of their marketing solutions ● To know how they compare to competitors What do local businesses want?
  17. 17. ● Usual suspects: Lead source management, lead scoring, email systems, rules-based delivery logic, etc. ● Automated, personalized content to drive engagement ● Easy onboarding process, lower cost of acquisition ● Close connectivity between sales and marketing CommonHardtofind Core pieces of marketing automation
  18. 18. Content is the most critical component for any marketing campaign. It needs to be relevant, timely, valuable, personalized and permission- based. Uncovering the content piece
  19. 19. Doing content development work yourself is expensive. Even then, it likely won’t be personalized. Costs for a simple four-email campaign Costs Strategy & planning $50/hr/person x 1-2 days Labor (designer, copywriter, email testing, etc.) $50/hr/person x 2-3 days Images licensing $50 - $100 Opportunity costs ??? Total $5,000+ Uncovering the content piece
  20. 20. Tips for capturing an SMB’s attention: ● Give businesses a report with their grade ○ Embrace the “report of pain” mentality ● Compare them to others in the industry ● Create a rock-solid script that can speak to all pain points and opportunities when they/you call Provide a report, capture a lead
  21. 21. 27.4% 31.3% Open Rates Click-Through Rates OMG, it’s about me! Industry Avg: 15.2% Industry Avg: 6.3%
  22. 22. Now that you’re sending relevant and personalized content, take action on it immediately! ● See who’s opening emails and engaging with content ● Reach out to engaged prospects ASAP ● If at first you don’t succeed, try again (and again and again...) ● Talk to pain points based on the content they interacted with Take advantage of the data
  23. 23. Tip #379: Have a talk-track for every scenario Prepare a script to match content
  24. 24. Tying content to automation Personalized content generated automatically Customer interacts with content Assigned sales rep receives an alert Sales rep follows up with hot lead
  25. 25. ● Create a culture of responding to qualified leads immediately (within 5 minutes) ● Tie real-time engagement data into a notification system You’ve got a hot lead!
  26. 26. http://www.marketingdonut.co.uk/marketing/sales/sales-techniques-and-negotiations/why-8-of-sales-people-get-80-of-the-sales http://www.slideshare.net/JakeAtwood1/20-shocking-sales-stats http://www.q4intel.com/9-shocking-sales-statistics-that-determine-your-success/ ● In 2007, it took an average of 3.68 cold-call attempts to reach a prospect; today, it takes 8 attempts ● Only 2% of sales are made on the first contact, while 80% of sales are made on the fifth to twelfth contact ○ 44% of sales people give up after one "no", 22% give up after two "nos", and 14% give up after three "nos” ● The average salesperson makes 8 dials an hour and prospects for 6.25 hours to set one appointment But connecting is tough...
  27. 27. What is evergreen marketing? Continually marketing to prospects on an ongoing basis until they have signed up for all relevant products and services. In a perfect world, this is a never- ending campaign that delivers automated content based on which products your customers don’t have. If at first you don’t succeed...
  28. 28. Tracking & analytics For marketing automation to be successful, it must be closely tied to your CRM. ● Simple reports and to-dos for reps ○ Make it easy to see how their pipeline looks and what they have to do next ● Remove as much manual reporting from your process as possible Tracking and analytics
  29. 29. Case Study: The Modesto Bee 730 Prospects 359 34% Open 49% CTR 49.2% Prospect > Lead Conversion $55K+ In Revenue
  30. 30. What’s needed: 1) Smarter systems and strategies ● Automated tools that use relevant, timely, and personalized content to speak to SMBs’ challenges ● Easy-to-manage evergreen marketing campaigns 2) Niche platforms that address the unique needs to different spaces ● Cost-effective marketing automation systems that are simple to implement and quick to scale ● Close integration with simplified CRM and robust analytics Conclusions
  31. 31. 33© 2015 BIA/Kelsey. All Rights Reserved. | Questions
  32. 32. P: (306) 222-2721 jtomlin@vendasta.com www.vendasta.com Jeff Tomlin Co-Founder and CMO Toll Free: (855) 955-6650 automation2016@vendasta.com

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