Marketing Automation: The Future of Sales & Marketing

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Contact: Jason Cormier Co-founder, Room 214 [email protected] @jasoncormier Marketing Automation An Understanding in the Context of Modern Digital Marketing Models

description

Although marketing automation has been around for 6+ years, many companies (B2B AND B2C) are just now in the consideration phase. This presentation offers an explanation of marketing automation in the context of modern digital marketing models (Paid, Owned, Earned in addition to the Digital Path to Success Model). We look at the relevant history leading up to marketing automation ("the missing platform"), in addition to how it works, it's core elements and some top-line stats regarding the reasons companies choose to use it.

Transcript of Marketing Automation: The Future of Sales & Marketing

Page 1: Marketing Automation: The Future of Sales & Marketing

Contact: Jason Cormier Co-founder, Room 214 [email protected] @jasoncormier

Marketing Automation An Understanding in the Context of Modern Digital Marketing Models

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A social media and digital marketing agency with a focus on digital strategy, lead generation and visual storytelling.

Who is Room 214?

Credentials

Clients

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Marketing Automation   What is it?   The Missing Platform

Today’s Marketing Models   Paid, Owned, Earned   The Digital Path to Success

How Marketing Automation Works   The 10 Core Elements   Personas and Lead Scoring   Lead Nurturing

Marketing Automation Impact   Top Reasons and Benefits   Measurement & Stats

Agenda

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Marketing automation is…

Marketing automation is hosted software that helps:

•  Collect, qualify and manage leads

•  Send relevant messaging to audiences at various stages of the buying cycle

•  Improve measurement and optimization of marketing performance

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Marketing automation is…

In 2013…

•  Oracle bought Eloqua

•  Marketo went public

•  Salesforce bought Exact Target

Hot (“totally awesome”)

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Marketing automation is NOT…

•  Mostly an email platform that sends time-released spam

•  A substitute for inbound marketing and great content

•  Easy (no matter what they tell you)

Just for B2B anymore

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What’s the big deal?

Just look at the history…

•  1980’s: Business software development was emerging, primarily in areas of word processing, accounting, manufacturing and HR

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What’s the big deal?

Just look at the history… •  1990: Gartner Group coins the term “ERP” (enterprise resource planning)

•  ERP = umbrella term for big-business software platforms

•  What these platforms do? Automate efficiencies in supply chain and vendor management, accounting, human resources and sales, to name a few

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What’s the big deal?

Just look at the history… •  2000: The emerging aspect of ERP is CRM (customer relationship management)

•  Salesforce.com is 1 year old and its mission is “the end of software”

Note: “the cloud” is more than 14 years old

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What’s the big deal?

After nearly 3 decades of software development…

What primary business function was still missing its own platform?

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What’s the big deal?

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Why was marketing missing a platform?

No other business function evolves: •  As quickly •  As frequently

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POE model

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Digital Path to Success Model

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Let research and analysis inform strategy

BUYINGHABITS

BRANDAFFINITIES

ANALYTICS

ONLINEHABITS

COMMUNITY

INTELLIGENCE

CRITICALANALYSIS

RESOURCES

STRATEGY

GOALS

VIRAL

TRENDS

BRANDFILTER

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Have a content plan

  Audit & Inventory: What do you have, what should you have?   Content Types: Trust-building, educational, UGC, conversion-based   Distribution: Where does it go, long term vs. short term   Optimization: How does it work best in each channel?

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Make it all work together

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Drive community, advocacy & more learning

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Adapt, improvise, rinse, repeat

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The leads / sales issue

•  Only 20% of leads are followed up on

•  70% of leads are disqualified due to budget and lack of timing

•  80% of “bad leads” do go on to buy within 24 months

•  73% of companies have no process for requalifying leads

•  80% of sales after the 5th contact

Source: Sirius Decisions

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How marketing automation works

List Building & Campaign Executions

Monitor Score & Segment

Qualified Leads Routed

To CRM

Nurture Leads with Relevant Content

Analyze Performance

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The 10 core aspects of marketing automation

1. Email Marketing: Initial and scheduled delivery based on buyer interests, roles, personas and actions.

2. Landing Pages and Forms: For each campaign.

3. Campaign Management: Includes development or repurposing of content (creative, video, short and long-form).

4. Marketing Program Development: Associated offers and content to support sales.

5. Lead Generation: Associated advertising, social media, word of mouth and search engine visibility to drive participation in the system.

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The 10 core aspects of marketing automation

6. Lead Scoring & Lead Nurturing: Includes prioritization of customer types based on fit and likelihood to buy, in addition to the filtering of leads by engagement and interest.

7. CRM Integration: Transfer of leads to sales opportunities and follow-up. This includes technical integration of platforms like Salesforce.com.

8. Social Marketing Capabilities: Includes integration of social media platforms such as Hootsuite to achieve better tracking and attribution of social to sales.

9. Lifecycle Management: Assumes existing customers are always leads, and keeps them in a system that continuously delivers relevant content.

10. Marketing Analytics: Includes measurement of the revenue contribution of each campaign and associated program element.

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1. Create personas for your target audience

•  Leverage social media and customer data research to obtain consumer insights

•  Consider roles in job and/or family

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2. Define leads and determine scoring

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3. Map lead nurturing by persona & buying stage

Awareness & Interest

Consideration

Preference

Decision

Action

Answer:

•  Who gets what content?

•  When and why?

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Benefits of lead nurturing

•  Close sales faster (weeks instead of months)

•  Decrease in Cost of Sales by 10%

•  Improved Conversion Rates of qualified leads by 1.5 -3.0x

•  Increase Leads and Quality of Leads

•  Increase in Marketing ROI

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Top 3 reasons companies do marketing automation

1. Need to increase new customer acquisition revenue

2.  Lack of visibility in the sales pipeline

3.  Inability to engage prospects with relevant marketing messages

Source: Aberdeen Group

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Top 3 benefits of marketing automation

1. Saving time & money

2. Measuring & improving marketing investments

3. Faster revenue growth

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What can you measure?

•  Specific ROI by campaign, segment and channel (social, search, email, web, etc.)

•  Leads and Opportunities at the campaign level

•  Revenues generated from specific marketing activities

•  Campaigns that lack in performance, knowing where to make adjustments

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With or without marketing automation

•  107% better lead conversion rate

•  40% greater average deal size

•  20% higher team attainment of quota

•  17% better forecast accuracy

Source: Aberdeen Group

Companies with marketing Automation experience…

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On a final note, always remember…

Great companies do what other companies know they should, but don’t.

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Contact: Jason Cormier Co-founder, Room 214 [email protected] @jasoncormier 866-624-1851 x101

Thank You!