digital marketing bootcamp - evaluating marketing automation

Evaluating a Marketing Automation Solution

Michael BergerDirector, Product Marketing

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• This webinar is being recorded – keep an eye out for the slides and recording sent to your email later today

• Questions? Type them in the chat box and we will answer!

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Housekeeping

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• Lead Nurturing • CRM Integration• Sales Intelligence• Replicating Success

http://bit.ly/1cYYXL5

Previously Covered

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• General Guidance on Selecting a Marketing Automation Solution

• Automation Workflows• Analytics

Today’s Focus

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Marketing Today is Hard

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Feature Checkbox vs. Use Case

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Features are Different

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Use Cases Matter

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Simplicity vs. Speed

Simplicity

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Simplicity vs. Speed

Speed

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Value vs. Time

Val

ue

Time (weeks)1 2 3 4 5

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Think Ahead

Don’t be this guy (or gal)!

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• My Journey with Marketing Automation

Think Ahead

What have I gotte

n myself into

Wow, so much to lear

n

Oh, I am

starting to get this

This is

the best thing ever!

Wow, this

is incredible!

Hmm,

wish I was able to do

X

Hmm,

wish I was able to to

Y

Hmm,

wish I was able to do

Z

Gee, I

need more capabilities

Anxiety Relief Elation Uncertainty Anxiety Panic!

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• My Journey with Marketing Automation

Think Ahead

What have I gotte

n myself into

Wow, so much to lear

n

Oh, I am

starting to get this

This is

the best thing ever!

Wow, this

is incredible!

Hmm,

wish I was able to do

X

Hmm,

wish I was able to to

Y

Hmm,

wish I was able to do

Z

Gee, I

need more capabilities

Anxiety Relief Elation Uncertainty Anxiety Panic!

7 months

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• Think 3 years out• Avoid the “this will serve our needs for a year” mentality• Migration isn’t always easy• Data is lost

Think Ahead

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• Marketing is a revenue driver, not a cost center• Investment vs. expense• Small improvements in conversion rates often dwarf price

differences between systems

Price

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Price

System A$1,700/mo

System B$1,500/mo

• Difference of $6,000 per year

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Price

• ASP = $30,000• Average 20 wins per month = $600,000• Annual revenue = $7.2M

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Price

• One more win per month

• Incremental Revenue = $360,000 per year

• Incremental Cost of Solution = $6,000 per year

• If one more win per quarter, still $120,000 vs. $6,000

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Win

Automation Workflows

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Workflows are the Engine

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Workflow Differences

List Workflow

2 Objects

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Workflow Differences

Behavior List Workflow

3 Objects

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Workflow Differences

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Workflow Differences

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Workflow Differences

WorkflowOne system object can trigger based on behaviors,

or affect a segment of database

1 Object

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Workflows: Triggers

Basic

Added to list

Powerful

Clicking a specific link in an emailAt request of another workflow

Database value changesProduct purchases

Tapping a mobile push notificationAdded to a CRM opportunity

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Workflows: Actions

Send EmailAdd Wait Step (days)

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Workflows: Branching Logic

LinearWorkflow

Yes/No or True/False

Branch

Full Branching

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• Push prospect into a nurturing program when their lead score hits 25.

• When someone downloads content, score them differently based on who they are.

• CXO or VP• Director or Manager• Practicioner• Student or Job Seeker

Scenario

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Workflows: Branching Logic

Almost impossible Requires lots of lists and multiple

workflows

Easy to do in one workflow, no lists

required

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Workflows: Rules

Flow throughonce or many?

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Workflows: Rules

Example: Scoring rulewhere an email click adds

2 points to score.

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Workflows: Rules

If prospect clicks email 2x, they are not going to

receive scoring credit.

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Workflows: Rules

A second workflow is then required.

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Workflows: Rules

If many times through flow allowed, only one

workflow needed to add 2 points for each click.

Analytics

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Reporting Maturity CurveMulti-touch ROI

Multi-touch Revenue

Single-touch Revenue

Opportunities Won

Conversion Based (Form Fill)

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Conversion Based

Page Visits Leads Conversion %

Awesome eBook Landing Page

657 31 4.7%

Contact Us Landing Page

412 68 16.5%

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Vanity Metrics

Source: KISSmetrics blog “Why You Ought to Throw AwayYour Vanity Metrics for these 5 Customer Metrics”.

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Opportunities Won

Page Visits Leads Conversion % Opps Wins

Awesome eBook Landing Page

657 31 4.7% 4 2

Contact Us Landing Page

412 68 16.5% 12 5

Advanced Analytics Webinar

840 56 6.6% 6 3

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Downloaded eBook on Analytics

Downloaded Analytics Survey

ResultsEngaged with us at

Big Tradeshow

Single Touch

3 months

$100K

$100K

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Single Touch Attribution

Page FT Revenue

Content: eBook Analytics

$100,000

Webinar: Advanced Analytics

$0

Content: Survey Results

$0

Webinar: Top 10 Marketing Reports

$0

Tradeshow: Big $0

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Downloaded eBook on Analytics

Downloaded Analytics Survey

ResultsEngaged with us at

Big Tradeshow

Multi Touch

3 months

$25K

$0

$25K

$25K $100K

$25K

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Multi Touch Attribution

Page MT Revenue

Content: eBook Analytics

$25,000

Webinar: Advanced Analytics

$0

Content: Survey Results

$25,000

Webinar: Top 10 Marketing Reports

$25,000

Tradeshow: Big $25,000

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Multi Touch Attribution

Page MT Revenue MT ROI

Content: eBook Analytics

$25,000 270%

Webinar: Advanced Analytics

$0 50%

Content: Survey Results

$25,000 570%

Webinar: Top 10 Marketing Reports

$25,000 318%

Tradeshow: Big $25,000 37%

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

• Position Marketing as a profit center, not a cost center.

• Focus on the hole (use case), not the shovel (feature).

• Understand the tradeoffs between simplicity and speed, and time and value.

• Workflows are the engine that powers a marketing automation solution. Take the time to understand what they can and can’t do.

• Get beyond vanity metrics. Measure how programs and channels are driving pipeline and revenue.

Some Tweetable Takeaways…

Marketo Proprietary and Confidential | © Marketo, Inc. 04/15/2023 @mikedberger @marketo

Register for more webinars in the Bootcamp Series http://bit.ly/Marketo-Bootcamp

Digital Marketing Bootcamp Series

Topic Date

Top 10 Things Marketing Automation Can Do For You 6/11/15

Evaluating Marketing Automation 6/17/15

Inbound Success Strategies 6/25/15

Email and Nurture Best Practices 7/9/15

Sales and Marketing Alignment 7/23/15

Measure and Prove ROI 8/6/15

Q&AAlso happy to connect on LinkedIn.Twitter: @mikedberger