The hidden value of the marketing budget

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In this session, Parin Mody, Global Director, Business Development at mardevdm2, reveals how, based on a new lead's digital behaviour, analytical data, and attribution models, marketers are now able to gather a level of marketing intelligence that shows channel-specific ROI so you know the value of every pound you spend.

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  • Zoe – do we have that cartoon image from Mel that’s on the website “… make profits go up…”?
  • Zoe can you portray this more interestingly please?
  • Zoe – do we have that cartoon image from Mel that’s on the website “… where is ROI…”?
  • Can we, somehow, combine Slide 8 and 9?? NOTES Apply the activity scores, by industry type, offer type and channel used to determine each lead’s propensity to buy.
  • Can the type be made bigger?
  • Add mardev*dm2 design?
  • ditto
  • ditto
  • ditto
  • Can you depict this in a different way ? It needs prettying up please
  • We need this to be more eye candy…along with the next slide please Marketing Automation Platforms (MAPs) enable a marketing team to measure it’s ability to directly impact and drive revenues.
  • Ditto eye candy
  • THIS IS A GOOD TAKE AWAY - SUMMARY
  • This is actually a ‘canned’ Eloqua slide, so, is there a way we can ‘Mardev-DM2’ize’ it? If eloqua is present at the show, it could get a bit awkward ..
  • Can the colours be sharper and correspond to the pyramid as they don’t appear to be the same? (you have the xls which has the original colours if easier)Please remove the ROI chart at the bottom--------------------------------------------------------------------------------------------------------------------------Even without a sophisticated automation platform, measure your spend, the number of conversions and their value from each channel.
  • Zoe can this be reworked to portray in a fresher way please? We like the content but depiction is tired? I can edit text if need be. KB
  • IS THIS VITAL?
  • DELETE move to reference section
  • Move to reference section
  • The hidden value of the marketing budget

    1. 1. The hidden value of the marketing budget<br />Presented by:<br />Parin Mody<br /> Global Director, Business Development<br /> @mparin<br />
    2. 2. marketing objectives & options<br /> Objectives – What?<br />Increase revenues – build relationship that creates an increase in demand for more products/services Example: nurturing programs based on customer needs<br />Increase speed – accelerate the consideration process by getting the right information at the right time to the buyers Example: behavior-based auto-responders<br /> Options – How?<br />Increase conversion – optimize CTA’s to get more buyers to raise their hands Example: landing page testing and optimization<br />Increase efficiency – leverage and scale integrated marketing communications to maximize ROIExample: communication templates for re-use or promotion of campaigns via additional low cost channels<br />
    3. 3. where the strategic budget goes<br />Marketing objectives that command B2B budgets<br /> Top 3 priorities<br /><ul><li>demand generation
    4. 4. product marketing
    5. 5. marketing operations</li></li></ul><li>where the tactical budget goes<br />Marketing tactics that get more/less B2B budget<br />
    6. 6. measuring ROI in stages<br />How much does it cost to attract each new visitor or prospect?<br />What is your conversion rate from visitor to opt-in?<br />Conversion<br />Attraction<br />Life-time value<br />Retention<br />What percent of your opt-ins become paying customers?<br />How many transactions does the average customer make over time? At what value?<br />
    7. 7. challenges measuring ROI<br /> Many marketers do not build metrics in from the start:<br /><ul><li>62% of marketers struggle with “turning data into action
    8. 8. 57% say their top bottleneck is measurement, analysis, and learning
    9. 9. 53% of marketers use social media marketing but find it difficult to measure the value
    10. 10. 44% of marketers are using mobile apps and are just starting to integrate with email </li></ul>Source: 2011 Unica Marketing Survey<br />
    11. 11. the role of demand generation in ROI<br /> Demand generation is critical for B2B marketers who need to get the most value from their marketing budget. <br />.<br /><ul><li>customer profiling – what does your customer look like?
    12. 12. database segmentation – start simple, group contact data by a common set of criteria
    13. 13. automated/triggered campaigns – test and see what works, nurture active customers
    14. 14. outbound promotions – target the same characteristics and behaviours as your test responders
    15. 15. lead scoring – assign a score to each action that a prospect takes, </li></ul>Economic impact – given the current economy, the marketing team needs to accomplish all of the above in a measured and cost-effective manner<br />
    16. 16. propensity model example<br />
    17. 17. propensity model example<br />
    18. 18. strategic campaign workflow example<br />Emails &<br />Newsletters<br />Gold Leads<br />Pass to Field Sales<br />DYNAMIC MICROSITE<br />Whitepapers<br />Case studies<br />Competitions<br />Blogs<br />Forums<br />Webinars<br />Podcasts<br />RFQ<br />SEO/PPC<br />Telemarketing<br />Silver Leads<br />Social<br />Networking<br />Bronze Leads<br />Nurture<br />Online<br />Inventory<br />TRACKING & SCORING<br />Monitor level of interest based on :<br /><ul><li>Email opens
    19. 19. Visits to microsite
    20. 20. Downloads
    21. 21. Reading/Posting on Blogs</li></ul>NURTURE<br />PROGRAMME<br />FURTHER QUALIFICATION<br /><ul><li> Budget
    22. 22. Authority
    23. 23. Need
    24. 24. Timescales</li></ul>Advertising<br />
    25. 25. lead generation: tactical<br />Campaign Objectives<br />Lead definition & qualificationwhitepaper download, appointmentTarget audiencecompany size, business sector, job title<br />leads<br />email<br />ROI-based Reporting<br />Channel Selectionemail, digital, telemarketing<br />Online<br />Collateral Creationcase study, whitepapers, webinars<br />nurture<br />Analyse, Optimise and Adaptwhat’s working – increase what’s not, adapt or switch off<br />prospects<br />r e s o u r c e o p t i m i s a t i o n<br />telemarketing<br />Deliverablesvolumes, timescales, CPL reporting<br />
    26. 26. multi-touch example: microsite driven<br />
    27. 27. multi-touch example: microsite driven<br />
    28. 28. Ford: awareness/lead generation<br /> Company:Ford<br /> The goals:<br />Increase awareness<br />Generate requests for a test drive<br />
    29. 29. Ford: awareness/lead generation<br />Expandable <br />skyscraper adWhen rolled over with cursor, the ad expands<br />Expandable Skyscraper Ad<br />
    30. 30. Ford: awareness/lead generation<br />Click through to the Ford mini-site for a short video and further information<br />Animation / <br />8 sec. commercial<br />
    31. 31. Ford: awareness/lead generation<br />Asking for the lead!<br />Three lead generation<br />calls to action:<br />Keep me informed<br />Request a brochure<br />Request a test<br />Brochure Request Form<br />
    32. 32. customer retention/development<br />Who? <br /><ul><li> leads not ready to buy
    33. 33. customers for upsell/cross-sell
    34. 34. trial/pilot customers, etc.</li></ul>Marketing challenges/pain points:<br /><ul><li> leads not qualified by inside or field sales
    35. 35. old/dormant leads sitting in CRM
    36. 36. lack of a method to prioritize
    37. 37. no structure to nurture to “sales readiness”</li></ul>Bottom line<br /><ul><li>wasted investments in lead generation
    38. 38. decreased marketing department credibility
    39. 39. decreased sales productivity</li></ul>What?<br /><ul><li> segmentation
    40. 40. personalization
    41. 41. relevant call-to-actions</li></ul>“We’re changing our sales plan. From now on, instead of trying to get lots of customers, we’re going to find just one really, really rich person to buy a whole lot of stuff.<br />
    42. 42. improve ROI with lead scoring<br />“We felt that this way, at least your bonus would reflect some element of personal skill.”<br /> Lead scoring and nurturing improve ROI<br /> Objectives:<br /><ul><li> improve conversion to qualified leads
    43. 43. improve quality of leads
    44. 44. prioritize follow-up
    45. 45. harvest dormant leads and re-engage
    46. 46. helps measure channel effectiveness</li></li></ul><li>strategic nurturing objectives<br />Lead/customer nurture strategy:<br />Build trust within your customers and prospects<br />Educate them:<br /><ul><li> who are you?
    47. 47. what does the company do?
    48. 48. how does it benefit them?</li></ul>Establish credibility as experts<br />Be relevant to the issues /pain points of your different segments<br />All of the above will help you differentiate your organization as a partnerto the prospect as opposed to a vendor<br />
    49. 49. lead nurture: rules of engagement<br />do not initiate contact without a clear objective<br />start with the customer, not with your product/service<br />pick-up where the interaction left-off<br />don’t ask the prospect for the same thing more than once<br />make the interaction personal and personalized<br />deliver information that reflects what you’ve learned about them<br />learn about the customers/prospects in bits... not all at once<br />Source : Peppers, D., Rogers, M., One to One Fieldbook, 1999<br />
    50. 50. defining your lead nurturing program<br />Define your objective<br />Define the WHO <br />Define collateral needed<br />Touch point:- emails - postcards- phone scripts - letterContent assets:- white papers - webinars- analyst reports - podcasts- articles - flash demo- research papers Interactive media:- poll / survey- scorecard / rank yourself against your peers<br />4. Map out the customer experience<br />5. Test and launch<br />6. Ongoing evaluation and monitor reporting<br />7. Keep content fresh<br />
    51. 51. dynamic lead scoring model<br />Score on profile fit and level of engagement<br />Level of Engagement<br />1 = Showing buyer interest<br />2 = Showing some interest<br />3 = Not enough information<br />4 = Inactive<br />Profile Fit<br />A = Target fit (BANT qualified)<br />B = Potential fit (nurture)<br />C = Not high enough now<br />D = Not a fit<br />Don’t send unqualified leads to sales… nurture<br />Nurturing programs generate on average:<br /><ul><li>7-10% increase in marketing qualified lead (MQL) generation
    52. 52. > 50% acceptance from sales (SAL)</li></ul>“Marketing dashboards help address one key tenet of marketing accountability – the transparent communication of results.” Forrester Research<br />
    53. 53. lead scoring model: example<br />
    54. 54. lead scoring model: example<br />
    55. 55. lead scoring and nurturing: best practices<br />Best practices:<br /><ul><li>KISS – do not score on too many criteria as it will be unclear what values are defining the score
    56. 56. sales and marketing SLA with protocol around MQL to SQL, follow-up, etc.
    57. 57. focus on scoring criteria that has standardized values, this will facilitate program execution and ease refinement, as needed
    58. 58. continuously re-evaluate and tweak the scoring system
    59. 59. conduct a closed-deal analysis to uncover insights into conversions</li></li></ul><li>marketing effectiveness measurement<br />
    60. 60. marketing effectiveness measurement<br />Source: SiriusDecisions<br />
    61. 61. attribution model: ROI by channel<br />Awareness<br />Information<br />Conversion<br />
    62. 62. ROI: best performing campaigns<br />Which campaigns had the <br />Best ROI (bigger is better)<br />Revenue Attributed<br />To First Source<br />Search<br />Banner Ads<br />Social Media<br />Direct Mail<br />Email<br />Case Studies/White papers<br />
    63. 63. ROI: best performing campaigns<br />Which campaigns Sourced<br />deals that closed?<br />Revenue Attributed<br />To First Source<br />Search<br />Banner Ads<br />Social Media<br />Direct Mail<br />Email<br />Case Studies/White papers<br />
    64. 64. attribution model: ROI by SIC<br />
    65. 65. attribution model: ROI by Job Title<br />
    66. 66. measure what matters<br />Measure what matters for your businessFunnel value <br /><ul><li> on track to meet revenue targets?
    67. 67. how much revenue from each source?
    68. 68. what is the quality of the pipeline?Channel performance
    69. 69. top campaigns by lead acceptance
    70. 70. top campaigns by number of high scoring leads</li></ul> Investment effectiveness<br /><ul><li> which campaigns yield the best returns?</li></li></ul><li>benchmarkable<br />Marketing Sourced Pipeline<br />(% of sales pipeline uniquely created by marketing)<br />Marketing Influenced Pipeline<br />(% of sales pipeline touched by marketing)<br />Investment to Pipeline<br />(average cost of the demand creation of the sales pipeline)<br />Investment to Revenue<br />(average revenues generated from $1 invested in demand creation)<br />10-50%<br />30-82%<br />1-4%<br />$5-$20+<br />Source: SiriusDecisions, Cross-Industry averages for B-to-B Companies<br />
    71. 71. marketing performance benchmarks<br />“It has come to my attention that you are taking performance enhancing drugs. Keep up the good work.”<br /> Performance benchmarks<br /><ul><li>track improvement over time against KPIs
    72. 72. prioritize & launch enhancements based on business objectives
    73. 73. monitor demand generation process and measure its impact to revenues</li></li></ul><li>@taylorzoe<br />Join Us:<br />thank you<br />Parin Mody<br />Global Director, Business Development<br />t: 020 8652 3477e: modyp@mardevdm2.com<br />@mparin<br />
    74. 74. @taylorzoe<br />Join Us:<br />Reference<br />Parin Mody<br />Global Director, Business Development<br />t: 020 8652 3477e: modyp@mardevdm2.com<br />@mparin<br />
    75. 75. moving up the lead value chain<br />
    76. 76. getting started<br /><ul><li>keep it simple to start
    77. 77. provide value-added content
    78. 78. allow leads to “raise their hand” with secondary calls to action
    79. 79. keep them interested by telling them what’s coming next
    80. 80. track online activity to determine when a lead’s interest has increased
    81. 81. work your way to defining a full lead nurture program</li></li></ul><li>campaign management: planning<br />Learn<br />Justify<br />Interest<br />Evaluate<br />Purchase<br />Solutions Evaluated Against Needs<br />Short List Assembled<br />Solutions Identified<br />Search Begins<br />Selection Made<br />What do they offer?<br />Are their customers achieving success?<br />Do they fit my need?<br />How can I easily evaluate/demo?<br />Who are the suppliers for my need?<br />What’s the scope of potential achievement?<br />Where do I stand?<br />How can I easily find out more?<br />Do they meet my expectations?<br />What do analysts say, are they a leader?<br />Is Company viable?<br />How do they compare?<br />Why should I choose?<br />What’s the cost?<br />Leading, solid product/company?<br />Recommended by customers and analysts?<br />Meets or exceeds my need?<br />Can afford to buy & implement?<br />How can I easily purchase?<br />Can I purchase via Web site?<br />Who can I call?<br />Do they have a partner in my area?<br />Why buy now?<br />Questions:<br />Experience:<br />eMail & Web<br />Podcasts/Seminars<br />TM Calls<br />eMail & Web<br />Seminars<br />Podcasts<br />eMail & Web<br />TM Calls<br />Sales Calls<br />Seminars<br />eMail & Web<br />Customer, analyst references<br />Sales calls<br />eMail & Web<br />TM & Sales Calls<br />Partners<br />Company white paper<br />Seminar Pres <br />product spec sheets<br />Customer stories<br />Flash Demo<br />Ind/analyst reports<br />Educational Tips<br />Industry white papers<br />Company product white papers<br />Customer stories<br />Assessment tests<br />Press releases<br />Features/Benefits<br />Gartner Quadrant<br />Fin. Press Releases<br />Competitive & Cost Comparisons<br />product Awards<br />Seminar Pres<br />product customer reference site<br />product Awards<br />Customer stories<br />Press releases<br />Seminar Pres<br />1800# provided<br />Company.com product<br />E-Shop product<br />Partner locator?<br />Promotions or deals?<br />Content:<br />
    82. 82. anatomy of scanningpaper.com<br />The images and the text are dynamically populated based on the lead’s industry<br />The welcoming message uses the first name, the job function, the company and the industry fields to make the experience very personal<br />The customer examples, the business need case studies and the solutions in action content that can be downloaded is also dynamically populated based on the lead’s interest<br />This content is based on and especially written for professionals in the lead’s industry<br />Content is based on solution interest<br />
    83. 83. poll #1 – by show of hands<br />Which challenges do you face in measuring ROI?<br /><ul><li>marketing data is unreliable
    84. 84. no way to tie marketing to sales
    85. 85. execute first, then look for metrics
    86. 86. campaigns not aligned with buying cycle
    87. 87. all (or more than one) of the above</li></li></ul><li>poll #2 – by show of hands<br /><ul><li>send thank-you email
    88. 88. invite “active” responders to subscribe or attend an event
    89. 89. occasionally send an article, white paper or educational link
    90. 90. fully automated, drip campaigns
    91. 91. nurture? what’s that?</li></ul>What steps do you currently take to nurture prospects?<br />

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