Getting from Good to Great Marketing – A Marketing Nation Virtual Event Keynote

#mktgnation

Getting from Good to Great Marketing,

with the Marketing Nation

Keynote

#mktgnation |

Meet Your Speakers

Lori Wizdo

Principal Analyst

Forrester Research

@loriwizdo

Sanjay Dholakia

Chief Marketing Officer

Marketo

@sdholakia

#mktgnation |

Marketing is Transforming

• Buyers are in control

• Time & resources are tighter than ever

• Marketing channels are complicated

• CMOs are accountable for revenue

#mktgnation |

Buyers are in Control!

#mktgnation | © 2012 Forrester Research, Inc. Reproduction Prohibited

Marketing

budget

remains at

about 2% of

revenue

Resources are Tighter Than Ever!

22%

Base: 534 B2B high-tech marketing executives at companies with 100 or more employees


Marketing Channels are

Complicated!

Base: 328 marketing decision-makers at B2B companies in the US and Western Europe with 100 or more employees; Source: Q4 2012 Global

B2B Technology Marketing Tactics And Benchmarks Online Survey

0% 5% 10% 15% 20% 25% 30% 35% 40%

Pay per click advertising

Digital advertising

Print advertising

Radio, TV advertising

Virtual events

Public relations

Social marketing

Search engine optimization

Tele-prospecting

Analyst relations

Industry trade/user groups

Tradeshows

Webinars

Content marketing

Company sponsored in-person events

Email marketing

All respondents(N = 328)

Top performers(N = 124)

What are the four

most effective

tactics for the

Nurturing stage?

#mktgnation |

Revenue is the Key Metric for

B2B Marketing Execs…

13%

24%

43%

43%

71%

Transaction conversion rates

Customer lifetime value

Customer satisfaction

Brand awareness

Revenue-related metrics

9

What are the most important measurements for your marketing team?

#mktgnation |

Sales M

arketing

Sale

s M

arke

tin

g

The New Buying Funnel

Awareness

Interest

Consideration

Intent

Evaluation

Purchase

Then Now Steve Patrizi. (2012, October 23). The New Marketing & Sales Funnel [Blog post]. Retrieved from

http://stevepatrizi.com/2012/10/23/the-new-marketing-sales-funnel/

#mktgnation |

Where Does This Leave the CMO?

#mktgnation |

Hardly…It Means Control & Influence


There is only one valid definition of business purpose: to create a customer. (And) because its purpose is to create a customer, the business enterprise has two - and only these two - basic functions: marketing and innovation.

Marketing and innovation produce results; all the rest are "costs.”

Peter Drucker, 1974

This is Marketing’s Destiny!

#mktgnation |

Getting from Good to Great:

Marketers Control Revenue

Revenue Performance Management

Integrated Pipeline

Demand Generation

Traditional Marketing

100

85

70

55

60%

Percentage of Target Revenue Plan Achieved

72%

80%

101%

55%

48%

32%

18%

Percentage of Pipeline Sourced by Marketing

*Marketo Benchmark Survey, May 2012 (n = 400)

#mktgnation |

Lead to Revenue Management

is What it Takes to be Great!

Forrester defines L2RM as:

• A set of integrated goals, processes, and metrics

• That is designed around the buyer

• Which shape marketing practices, from lead generation to revenue events

• And, is calibrated to revenue performance across the customer lifecycle

#mktgnation |

Growing Pressure to Drive Success Faster

Competitive Threats

Shorter Deadlines

Tight Calendars

Revenue Accountability

#mktgnation |

Your Life is Getting More & More Complex

#mktgnation |

Transformation Doesn’t Come Easy

#mktgnation |

Lead to Revenue Management

is What it Takes to be Great!

How many changes can you spot?

• Accountability

• Buyer Centricity

• New Process(es)

• Managed Process

• New Roles

• New Skills

• New Metrics

• New Levels of Collaboration with Sales

• New Automation


Leading Change

Managing Change

#mktgnation |

Leading Change

Source: John P. Kotter, Leading Change, Harvard Business School Press

1. Establish a Sense of Urgency

2. Create a Guiding Coalition

3. Develop a Change Vision

4. Communicate the Change Vision

5. Empower Broad-based Action

6. Generate Short Term Wins

7. Consolidate and Continue

8. Institutionalize New Approaches

#mktgnation |

• New Focus

• New Skills

• New Roles Your People

• New Tasks

• New Metrics

Your Process

• Coalition of Stakeholders

• Collaboration with Sales

• Communication 360⁰

Other People

Managing Change

11

#mktgnation |

The 5 Keys to Success for the Marketer

• Design and implement based on best practices

• Access a community of experienced users

• Clone, don’t recreate

• Tap into experts & consultants

• Leverage technology to focus on strategy & creative, not tactics

Technology

Process

Ideas

#mktgnation |

Here is where crowd sourcing,

marketing strategy, big data,

lead automation, and you

come together.

…when it comes to lead scoring and

automation I am left to best practices

and case studies.

All good, but how much better

would it be if the community

worked together to form our

own scoring models that used

our collective experience…we

are in this together.

Posted to Marketo Community Ideas on 9/27/2012

Don’t Do it Alone

#mktgnation |

Welcome to the Marketing Nation

#mktgnation |

Collective Power: Program Exchange

Sandbox Sandbox Marketo Free trial Agency Customer

Subscription A Subscription B

Sandbox Production

Customer Production

Customer Customer

#mktgnation |

Announcing LaunchPoint!

#mktgnation |

Pillars of the Marketing Nation

Best Practices • Over 2,000

customers

• Program

Exchange

• Award-winning

Marketo blog

• User Summit

• Over 21,000

engaged users

• User groups in

26 cities globally

• Marketo Drive

• Preferred

Service Partners

• Most complete

ecosystem

• LaunchPoint

Community

Integration Solutions

Knowledge & Ideas

Consultants & Experts

#mktgnation |

Modern Marketing Platform that Powers the

Nation

#mktgnation |

The Marketer’s Time Has Come

VP of Sales

Platform: CRM

CFO

Platform: ERP

VP of HR

Platform: HCM

VP of Support

Platform: CSS

CMO

Marketing Platform

#mktgnation |

Key Takeaways

Don’t underestimate the challenge of L2RM

Prepare a change roadmap

Step up to Leading Change

Get Practical about Managing Change

37

#mktgnation

Best

Practices

Knowledge and Ideas Community

Consultants and Experts

Integrated Solutions

MARKETO PLATFORM

System of Record

Workflow Engine

Time-Series

Analytics

Engine

Extensible Network

Simplify. Share. Succeed.

Lead Management

Inbound Marketing

Sales Insight

Closed-Loop Reporting

Social Marketing

#mktgnation |

The Most Complete Ecosystem

Analytics & Big Data

Top of the Funnel

Lifecycle Marketing

Content Marketing

Online Ads

Social Media

Events & Webinars

Lead Data

Other

Sales Tools

Services

#mktgnation |

• Tweet with us at #mktgnation

• Session recordings will be available on Marketo LaunchPoint next week – launchpoint.marketo.com

• Enjoy the rest of Good to Great – A Marketing Virtual Event

Thank You!

#mktgnation

Getting from Good to Great Marketing – A Marketing Nation Virtual Event Keynote

Business

Transcript of Getting from Good to Great Marketing – A Marketing Nation Virtual Event Keynote