How to Market and Measure Like Marketo
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Transcript of How to Market and Measure Like Marketo
Chandar Pattabhiram VP Product & Corporate Marketing @chandarp
October 16, 2014
Market and Measure Like Marketo: Seven Secrets of Marketo’s Success
Page 2 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
The Quest of Every Organization
YOUR CUSTOMERS
2900 Marketing messages per day vying for your customer’s attention2
But Today’s Digital World has Made it Hard
1. Sirius Decisions 2. Forrester 3. Marketing Sherpas
90% Of a customer’s journey today is self directed1
Page 4 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 4 © 2014 Marketo, Inc. #mktgna7on14 @chandarp
Changing buyer
Need car Gather informa7on
Evaluate op7ons
Buying decision Purchase
MARKETING SALES
Page 5 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 5 © 2014 Marketo, Inc. #mktgna7on14 @chandarp
Changing buyer
Need car Gather informa7on
Evaluate op7ons
Buying decision Purchase
MARKETING SALES
Page 6 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 6 © 2014 Marketo, Inc. #mktgna7on14 @chandarp
Changing buyer
MARKETING
Need car Gather informa7on
Evaluate op7ons Purchase
Buying decision
SALES
Page 7 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
2900 Marketing messages per day vying for your customer’s attention2
But Today’s Digital World has Made it Hard
1. Sirius Decisions 2. Forrester 3. Marketing Sherpas
90% Of a customer’s journey today is self directed1
50% of all purchasing decisions are influenced by third-parties3
Marketing is transforming itself and becoming the steward of
their customer journeys
Page 9 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
The New Rules of Engagement Marketing From talking at people to building meaningful & personalized relationships
FROM TO
Mass communications Engaging people as individuals
Using point in time campaigns Continuous conversations
With unclear objectives Always directed towards an
outcome
Disconnected operations At speed of digital
Guess-work and habit With measurable impact
Based on who they are Based on what they do
Isolated, few channels Wherever they are
So, how has Marketo put these to work?
Page 11 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Nam
e
Awaren
ess
Friend
Engaged
Target
Marketo’s Guided Journey: A Revenue Cycle
TOFU MOFU
Opportunity Customer Lead
Sales
Lead
Nurturing Database
BOFU
Page 12 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Nam
e
Awaren
ess
Friend
Engaged
Target Opportunity Customer Le
ad
Sales L
ead
Nurturing Database
Retain
Advocate
Enable Adopt
Marketo’s Guided Journey: A Revenue Cycle
Drive customer success to keep and grow relationships
Page 13 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 13 © 2014 Marketo, Inc. #mktgna7on14 @mikedberger
Awaren
ess
Web
Visito
r
In-‐person Appointment Customer
Converted
Engaged
Nurturing Database
Advocate
Adopt
Retain
Marketo Customer’s B2C Buyer’s Journey
Page 14 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 14 © 2014 Marketo, Inc. #mktgna7on14 @mikedberger
Rent vs. Own
Page 15 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Blog, e-‐books, research data, funny videos, curated lists, infographics, webinars
NO
YES
Build the brand
Help buyers find you when they are looking for solu7ons
Help buyers evaluate or reaffirm selec7on
Buying guides, RFP templates, ROI calculators, defini7ve guides, analyst reports
Pricing, demos, services informa7on, 3rd party reviews, customer case studies
Gated? Early Stage
Middle Stage
Late Stage
NO
Page 16 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 16 © 2014 Marketo, Inc. #mktgna7on14 @mikedberger
Rent vs. Own
Page 17 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Source: Marketo data, Marketo Revenue Cycle Analy6cs. Does not include all sources.
Engaging People -
As individuals, Based on what they do, Continuously over time
Page 19 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Nam
e
Awaren
ess
Friend
Engaged
Target
Marketo’s Guided Journey: A Revenue Cycle
TOFU MOFU
Opportunity Customer Lead
Sales
Lead
Nurturing Database
BOFU
Page 20 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Relevance
Page 21 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 22 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
What isn’t an engaging conversation?
Page 23 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
When it comes to markeOng, nobody wants to get blasted -‐ @chandarp
Page 24 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 25 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 26 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Known
Anonymous
Page 27 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 27 © 2014 Marketo, Inc. #mktgna7on14 @sdholakia
Page 28 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 28 © 2014 Marketo, Inc. #mktgna7on14 @sdholakia
For visitors in B2C industries
Page 29 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Nam
e
Awaren
ess
Friend
Engaged
Target
Marketo’s Guided Journey: A Revenue Cycle
TOFU MOFU
Opportunity Customer Lead
Sales
Lead
Nurturing Database
BOFU
Page 30 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Sales doesn’t
want
names – they wa
nt
“Win Ready” lea
ds
@chandarp
Page 31 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 31 © 2014 Marketo, Inc. #mktgna7on14 @sdholakia
Nurturing:
Building relationships people over time through engaging
conversation
Page 32 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Ready to Buy
Source: RainToday
Need More Nurturing
Disqualified
Page 33 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Ready to Buy
Source: RainToday
Need More Nurturing
Disqualified
Source: Marketo data, Marketo Revenue Cycle Analy6cs. Does not include all sources.
327 Days on Average
Page 35 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 36 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
The Key to Relevance is Behavioral TargeOng Top TacOcs to Increase Email Engagement
Page 37 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Behavioral Targeting for Maximum Relevance: Topic of Interest Triggers
• AZends event • Downloads content • Click email • Fills out form • Score is changed
Social
Content
Technology
Page 38 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Standard Nurture Triggered Interests LiY
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%
Engaging People – Always directed towards an
outcome
Page 40 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Nam
e
Awaren
ess
Friend
Engaged
Target
Marketo’s Guided Journey: A Revenue Cycle
TOFU MOFU
Opportunity Customer Lead
Sales
Lead
Nurturing Database
BOFU
Page 41 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Lead Scoring Defined “Shared sales and markeOng methodology for ranking leads in order to determine their sales readiness”
Score > 100, Pass to Sales
Fit Behaviors Buying Intent
E.g. Buyer profile E.g. Afend webinars, download whitepaper
E.g. Pricing page, demos, contact request, etc.
I love you You love me Ready to be part of happy family
Page 42 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Stars and Flames show priority
Full list of Interesting Moments
No Lead Left Behind: Service Level Agreements
Day 0 NoOficaOon
Day 1 If untouched, reminder
Day 2 If untouched, reminder cc boss
Day 3 If untouched, alert execuOves
Page 45 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Marketo Customer’s Journey: A Revenue Cycle
Drive customer success to keep and grow relationships
Retain Advocate
Enable Retain
The probability of selling to a new prospect is 5-20%.
– Marketing Metrics
It costs 6–7 times more to acquire a new customer than retain an existing one
– Bain & Company
The probability of selling to an existing customer is 60 – 70%.
– Marketing Metrics
Yet Global Marketing Spend Is Only 12% of the Overall Marketing Budget
Nurturing Provides A Cost Effective Way to Retain, X-Sell and Upsell Customers
Engaging people - At the speed of digital
Page 50 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 50 © 2014 Marketo, Inc. #mktgna7on14 @mikedberger
Leads to wasted cycles and poorly-timed communications
Traditional options: Disconnected & Out of Sync
Page 51 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 51 © 2014 Marketo, Inc. #mktgna7on14 @mikedberger
Engaging People –
With measurable impact
Page 53 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
The “Revenue Table”
Page 54 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 55 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Why Measuring Return is Hard
• Multiple touches. 7
• Unclear success.
Responded
• Multiple influencers. 5-21
Track Touches Across People
Screenshot: Marketo Revenue Cycle Analytics
Track Touches Across All People
Screenshot: Marketo Revenue Cycle Analytics
Page 58 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Source: Marketo Revenue Cycle Analy6cs, Apr 2014 * Percentage of all programs in channel that achieve MT Ra6o > 5
Page 59 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
“Half the money I spend on adver9sing is wasted. The trouble is I don’t know which half.”
-‐ John Wannamaker Father of mother adverOsing and pioneer in markeOng
Page 60 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Source: Marketo Revenue Cycle Analy6cs, 2014 * Percentage of all programs in channel that achieve MT Ra6o > 5
Half of our channels are working. Half are not.
Page 61 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Source: Marketo Revenue Cycle Analy6cs, 2014 * Percentage of all programs in channel that achieve MT Ra6o > 5
Half our Tradeshows are working. Half are not.
Page 62 © 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Page 62 © 2014 Marketo, Inc. #mktgna7on14 @chandarp
Engaging People:
Summary
Engagement Marketing
• As individuals
• Based on what they do
• Continuously over time
• Wherever they are
• Always directed towards an outcome
• At speed of digital
• With measurable impact
Chandar Pattabhiram VP Product & Corporate Marketing @chandarp
October 16, 2014