Smarter Marketing for Better Results: Marketo's "Secret Sauce" Case Study - Michael Berger

Smarter Marketing for Better ResultsMarketo’s “Secret Sauce” Case Study

Michael BergerDirector, Product MarketingMarketo

© 2014 Marketo, Inc. #mktgnation14 @mikedberger

INFORMATION SCARCITY

WE USED TO LIVE IN A WORLD OF


ABUNDANCEINFORMATION


Changing buyer

Need carGather

information

Evaluate options

Buying decision Purchase

MARKETING SALES


Changing buyer

MARKETING

Need carGather

information

Evaluate options PurchaseBuying

decision

SALES


Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012.

Degree of Progress Through Purchase ProcessBefore Engaging Sales

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Opportunity Customer

Lead

Sale

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Nurturing Database

BOFU

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Lead

Sale

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Nurturing Database

Exposed to us via content, brand, or word of mouth

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Lead

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Nurturing Database

Feels a relationship and trust with us

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Lead

Sale

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Nurturing Database

Names are just names

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Lead

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Nurturing Database

Meaningful interaction with us

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Lead

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Nurturing Database

Nurture until ready for next step

Qualified potential customer

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Nurturing Database

Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out

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Nurturing Database

Qualified as sales-ready by Sales Development Rep (SDR)

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Nurturing Database

Accepted and actively worked by sales:marketing quota attainment

Top of the Funnel


Rent vs. Own


Blog, e-books, research data, funny videos, curated lists, infographics, webinars

NO

YES

Thought leadership and enjoyable content to build brand, awareness, and desire

Tools that help buyers find you when they are looking for solutions

Company-specific information to help evaluate and reaffirm selection

Buying guides, RFP templates, ROI calculators, definitive guides, analyst reports

Pricing, demos, services information, 3rd party reviews, customer case studies

Gated?Early Stage

Middle Stage

Late StageMOSTLY

NO


Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.



Inbound creates the best leads by far: high conversion, high velocity


Customized messaging for visitors who use other marketing automation


For visitors in B2C industries

For companies using competitive solutions



But we also use a Portfolio of programs



Sponsored Email builds the database, but low conversion



Webinar, tradeshow, PPC, and virtual tradeshow are top paid TOFU



Paid Social & Display Ad drive brand and amplify inbound as well


Sales doesn’t want

names – they want

“Win Ready” leads

Middle of the Funnel


Sales Ready

Source: RainToday

25%

50%

25%

2%

Need More Nurturing

Disqualified



Average days to Opportunity: 327 days


Lead Nurturing: Building relationships with

qualified prospects regardless of their timing to buy


RelevanceGet the “Definitive Guide to Lead Nurturing”

marketo.com/DG2LN


More Targeted Emails are More Relevant

100 1000 10000 1000000

50

100

150

200

250

300

350

400

Email Send Size

Enga

gem

ent S

core

Source: 100s of Marketo campaigns


1. BUYING STAGES• Early: Be a Better Marketer• Mid: Why Marketing Automation• Late: Why Marketo• Customer: Success

2. BUYING PROFILES• Marketing, Sales, Exec


Dynamic Content

Industry, Geography, Company Size, Customer

vs. Prospect, etc.


The Key to Relevance is Behavioral TargetingTop Tactics to Increase Email Engagement


Example: Topic of Interest Triggers

• Attends event• Downloads content• Click email• Fills out form• Score is changed

Email

Social

Content

MS CRM


Standard Nurture Triggered Interests Lift

Open % 21.7% Open % 34.0% 57%

Click to Open % 23.4% Click to Open % 37.1% 59%

Click % 5.1% Click % 12.6% 147%


Batch

Triggered

Epsilon Q4 2013

North America Email Trend

Results

Scoring and Lead Management


Lead Scoring Defined

Fit Interest Buying Stage

“Shared sales and marketing methodology for ranking leads in order to determine their sales readiness”

Nurture DisqualifyNurturePass to Sales Pass to Sales


Demographic “Fit” Score

Positive Demographic Score• e.g., Marketing Manager title, known CRM customer,

known competitive solution customer

Negative Demographic Score• e.g., Generic email address, illegitimate phone number,

non-existent company (unemployed, self, looking)


Hidden Fields

Form Completion for Data Augmentation


• Click email: +1• Visit webpage / blog: +1• Early stage content +3• Attend webinar: +5• Decay inactivity:

-1, -5, -10

Latent Behaviors (Engagement)

• Free trial or Contact request: +15• Pricing pages: +10 • Demos: +10• Late-stage content +12• Searches for branded keyword

“Marketo” +8

Active Behaviors(Buying Intent)

Get the “Definitive Guide to Lead Scoring”marketo.com/DG2LS


One Way to Identify Marketing Qualified Leads

A Lead Lead Lead

B Lead Lead

C Lead

D4 3 2 1

Fit

Behaviors

Stars and Flames show priority

Full list of Interesting Moments


No Lead Left Behind: Service Level Agreements

Day 0 Notification

Day 1 If untouched, reminder

Day 2 If untouched, reminder cc boss

Day 3 If untouched, alert executives

Day 7 If stale, reminder

Day 8 If stale, reminder cc boss

Day 9 If stale, alert executives

Revenue Analytics


Why Measuring Return is Hard

• Multiple touches. Seven touches needed to convert a cold lead into a sale

• Multiple influencers.Typical buying committee has 5-21 people


Track All Touches Across People

Screenshot: Marketo Revenue Cycle Analytics


Example: Multi-Touch AttributionA deal worth $100,000 recently closed. Three people were involved in the deal:

• Moe attended Webinar and Tradeshow• Larry attended Tradeshow• Curly responded to Direct Mail

$100,000 Revenue

$25,000 $25,000 $25,000 $25,000

Webinar$25,000

Tradeshow$50,000

Direct Mail$25,000


Source: Marketo Revenue Cycle Analytics, Apr 2014* Percentage of all programs in channel that achieve MT Ratio > 5



Inbound + Nurture = 58% of (MT) PipelinePaid Programs = 42% of (MT) Pipeline



(MT) Ratio = Pipeline / Investment

>10 is Great and <5 is FailSponsored Email = 12.8, Tradeshow = 10.6, PPC = 13.0, Webinars = 25.4, Field Events =

6.6, Content Syndication 7.7



% Programs with MT Ratio > 5e.g. Tradeshow has good average

but 49% programs “fail”

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Lead

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BOFU


Revenue Cycle Modeler



Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc.

Key topic areas:• Balance (Reach)• Flow• Conversion• Velocity

Trends over time



Use Metrics to Set & Justify Budgets

New TargetsNew MQLsScore>100

23,000

Inventory of Active MQLs

20,000

New Opps*

1,000

6 Month Created Opp Inv.

2,000

270

*Opps is bigger than SQLs because includes outbound and partner referrals

SDR capacity driven

Inb

ou

nd

/ P

rog

ram

s

120K(900K DB Total)

New Names

New SQLs

922

Win

s

Inventory Of Active Targets

60,000

131,000

15.3%

10.5%

2.4%

1.9%

75%35%


Get the “Definitive Guide to Marketing Metrics & ROI”marketo.com/DG2MM


Tweetable Takeaways1. The way buyers buy has changed forever – the way we

market and sell must change as well

2. Define the stages of the buying cycle, in alignment with sales

3. Map content and marketing to the buyer’s journey: early, mid, late stage

4. Most leads are not “sales ready” – nurture relationships over time, use online body language to score leads

5. Use analytics to turn marketing from a cost center into a revenue driver

@mikedberger

Thank You

Mike Berger@mikedberger

[email protected]

Smarter Marketing for Better Results: Marketo's "Secret Sauce" Case Study - Michael Berger

Marketing

Transcript of Smarter Marketing for Better Results: Marketo's "Secret Sauce" Case Study - Michael Berger