booth susina 2013-0828-final pdf version

Marketing Automation OverviewBooth Marketing Roundtable

August 28, 2013

Steve SusinaDirector of Demand Generation Services

Crain Communications /

Business Insurance Magazine

| © 2013 Business Insurance

• Publisher of Business and Trade Publications– Business (Crain’s Chicago Business)

– Healthcare (Modern Healthcare)

– Marketing (BtoB, Advertising Age)

– Manufacturing (Automotive News)

– Financial Services (Business Insurance)

• Faced with Industry trends– Declining marketing budgets

– Print a smaller proportion of mix

– Emergence of Content Marketing

– Shift to mobile devices

About Crain Communications

Business Media still plays a vital role in educating the customer universe


Agenda

• Marketing Trends & Background

• Marketing Automation Overview

• Examples

Marketing Trends - 2013


How business used to sell . . .

• Buy or rent lists

• Sort by region/rep

• Assign

• Make reps spend their days cold calling

• Profit

Supported by Brand Advertising & Public

Relations


What’s happening? Demand Generation Is Primary 2013 Marketing Goal

Source:


67% of Marketers budgets show an increase in digital spend

Source:


2 to 1 spending advantage for Direct Response vs. Branding

Banners & Display

LeadGeneration &

Nurturing


Every Marketing Survey Includes Some Version of This Chart

Marketing Budgets

Present

Advertising

Content,Lead Gen& Inbound

Past


New Focus Brings New Challenges

• 40% to 70% of the sales process takes place before the first interaction with the vendor

– What does your audience need to know?

– How do you make sure you get found?

– How do you know when your prospect is looking at it?

Source: Marketo, Sirius Decisions, Forrester Research

What Is Marketing Automation?


3 Basic Objectives of Marketing Automation Systems:

Generate Leads

Nurture Leads

Qualify Leads


Reality is more complex

Source: Forrester Research


Translates to the “Demand Waterfall”

Prospect

MQL

SAL

SQL


The “old” Sirius Decisions Demand Waterfall

Prospect

MQL

SAL

SQL


The “new” Sirius Decisions Demand Waterfall

Prospect

MQL

SAL

SQL


DemandGen – “Hourglass”

Prospect

MQL

SAL

SQL


Regardless of Process, Optimization is goal

Move Leads from stage to stage

Attract & Engage new prospects

Optimize conversions

Pass to sales for closure

Measure


Enter Marketing Automation.


What is Marketing Automation?

1. Software that gives a company the tools it needs to accelerate the sales funnel:– 10% Increase in Revenue (Gartner)

– 26% Increase in Lead Conversions (Aberdeen)

– 33% improvement in Cost Per Lead (Forrester)

2. Software that Manages time consuming,complex & repetitive tasks:– Campaign Management

– Monitoring Website activity

– Delivering content

– Email Marketing

– Lead Database management

– Analytics

– Behavior/Tracking

– Demographics


Practically Speaking

• Deliver Marketing Content

– Right mix of information

– Right stage of the buying cycle

– Delivered via a structured systematic approach that requires minimal active intervention

• Rate Engagement

– Monitor engagement with relevant content

– Reflect relative importance ofengagement

• Qualify to Buy-Ready

– Identify the behavioral signals that suggest someone is ready to speak with a sales professional.


My Working Definition of Marketing Automation

• Capabilities that make it easy for you to deliver:

– The right content

– Via the right environment

– Using the right tools

• To manage your:

– customer data

– marketing content

– marketing engagement

• To help you:

– Identify potential sales prospectsearly in the buying cycle

– Assist them (and monitor them)as they move through the buying cycle

– And turn them into Qualified Leads

Customer Database Marketing

ContentEngagement

Strategy


Market History & Consolidation:


Basic Components of an MA system:

• Database of Prospects/Leads

• Digital Asset Creation Capabilities

– Landing Pages

– Registration Forms

– Email Messages

– Content Management (for images, PDFs, etc)

• Marketing Campaign Automation

– Email Marketing (Batch & Blast)

– Triggered Events

– Sequenced Events

• Lead Evaluation (Scoring) Capabilities


Why? Managing Complex & Repetitive Tasks: e.g. webinar

• Asset Creation:

– Email Invitation

– Landing Page

– Registration Form

– Thank-You Landing Page

– Calendar Reminder

– Thank-You Email

– 24 Hour reminder

– 1 Hour Reminder

• Programming:

– Send Invitation

– Collect Data from Registration Form

– Send Thank-You and Reminder messages

– Send registrant data to Webinar hosting service

– Send One follow-up message to attendees

– Send a different one for no-shows


Lead Scoring

• Working Definition: “A shared sales and marketing methodology for ranking leads in order to determine their sales-readiness.”

– Increased Sales Effectiveness:Sales reps focused on the mostready leads

– More effective re-marketing and recycling of leads

– Ability to filter non-leads from marketing programs (and handoff to sales)

– Self-selection of prospectsby monitoring engagement

Image Source: BizLeader.co.uk

ReadyNow

Not Ready

Yet

Not alead

Scoring Methodology/Threshold


Lead Scoring

Behavioral(Do They Want Us?)

• Download a White Paper

• Visit certain web pages

• Open a relevant email

• Register & attend a webinar

• Sign up for your newsletter

• Undesirable

– Visit the Career Center

– Unsubscribe from mailing lists

Demographic(Do We Want Them?)

• Company Size

• Number of Employees

• Purchase Influence

• Job Title

– Level & Category

• Undesirable

– Work for a competitor

– Wrong Industry

– Wrong job title


Nurturing Example

• Action: Request Campaign: Welcome Email Series1. Call to action: Sign up for segmented newsletters

2. Call to action: Sign up for “Solution Arc”

3. Call to action: Watch Video

4. Call to action: Send message to publisher


Risk Manager

Chief FinancialOfficer

Chief Operations

Officer

BusinessProcess /

Function Owner

Early StagePain ID

Mid StageSolution ID

Mid StageEvaluation

Late StageSelection

3rd-party whitepapers, educational webcasts. Speeches at industry events, public relations, other thought leadership efforts

Competitive comparison charts, fact sheets, implementation plans

Internal whitepapers, sponsored webcasts, case studies, customer testimonials

Source: Annuitas Group, Business Insurance

Product demos, short videos, product specifications, brochures, cost comparisions, business case tools

Segmented Lead Lifecycle NurturingCombine Audience segmentation & Buying Cycle


The Right Environment

Attract• Traditional Marketing

– Brand Advertising

– Direct Mail/Email

– Trade Shows

• Emerging or “Inbound”Marketing

– Search Engine Optimization

– Social Sharing

– Community marketing

Segment• Identify Customers

– Industry

– Product

– Geography

– Size

• Serve the end-to-end buying cycle for each

• Reflected in your website


• Top Of Funnel Audience Generation: 1180 Leads Generated

– 1180 leads into campaign (webinar attendees, white paper downloads)

• Nurture to Marketing Qualified Status: 102 Leads Qualified

– Content Offers aligned to buying stage

– Scoring based on engagement (clicks, downloads of campaign and onsite content)

– Transfer when combined engagement reaches Lead Score threshold

• Sales Accepted Leads: 25 Matched Sales-Qualification Criteria

– Fits client target audience to engage a sales person (specialty broker):

– Average Deal Size: $2 million

– Pipeline: 25 x $2 million = $50 million

– Customer has identified one likely prospect (to date)

Campaign Value: $50,000 Investment $2 Million potential revenue

from a $50,000 investment

Lead Nurturing Performance example:


Early Stage

• Audience Acquisition– 16,093 Page Views w/ad

– 132,522 Newsletter Views*

– 271,123 Email Invitation Messages delivered

– 14.1% Open Rate

– 1.1% Click through rate

Late Stage

• Nurturing Campaign– 4,585 Messages delivered

– 34.7% open rate

– 12.9% click through rate

Deeper Engagement In Later Stages of Campaign

• 246% increase in Email Open Rate• 1172% increase in Click Through Rate

* 13x in Specialty Risk Newsletter distributed to 10,194 emails

Nurturing Effect on Engagement:

Case StudiesMarketing Automation Enabled

Lead Generation Campaigns

2 Examples

• Basic White paper Download

– SEO, Email, Social inbound link

– Generate registration in exchange for download (gated content)

• One Click/No Form Download

– Still used to generate a lead

– Marketing Automation enables offer & tracking without collecting any (additional) data


Example 1: Basic White Paper Offer


• Website Template:

• Marketing Automation Template:

Difference between Web Page & Landing Page

Why? Drive to a single CTA


Progressive Profiling Forms


Landing Page Template

Template

Template


Drag & Drop to Create Landing Page

Rich Text Form

Image

Button is programmed to

open a 2nd

landing page . . .


Follow-Up or Thank You Landing Page


Patterns start to emerge

Rich Text Image

Template

Template


The Invitation email . . .

Button is programmed togo to landing

page. . .


And again, the patterns. . .

Rich Text

Image

Template

Template

Image Button is programmed togo to landing

page. . .


Behind the Scenes – Send an Invite:


Behind the Scenes – Triggered Activity:


Behind the Scenes – Campaign Flow:


Example 2: Reduce Registration Friction

• Studies: there is an inverse relationship between number of fields and number of completions

• Marketo Progressive Profiling Example

– Reducing form from 9 fields to 5 field significantly increased form completion rate – 45% improvement over baseline

• Theoretically, if we have enough information we can we eliminate registration form altogether

– Data exists in Marketo (Name, Company, Job Title, Phone, etc.)

– Activity is monitored (Clicks link in Email)


Normal Registration Flow

• Normal process:

– Select target list

– Send Email

– CTA direct to landing page

– Landing page has form

– Completed form representsregistration for download orevent

• Conversion metrics at each step

– Sent, Opened, Clicked, Registered


One Click Registration Flow

• MA Enabled process:

– Select target list

– Filter for each required fieldusing “Is Not Empty”

– Send Email

– Personalize the message

– CTA is “One Click Register”

– Post Click processing is a triggered campaign based on the click

• Conversion metrics at each step

– Sent, Opened, Clicked, Registered


Changes to my invitation:


Asset Differences 1 – Tokens to display recipient data

Two reasons to include the recipient’s name & email in the email message:

• Show that I already have the info– not giving up additional personal data

• In case the email is forwarded, link will register the person shown here


Call to ActionLinks/CTA

• My normal Post registration page

• Included 3 times in different formats


Alternative registration flow

The full registration link

• In case the recipient wants to invite someone else

• In case the email is forwarded


Results

Photo Source: Thinkstock


Comparison: White Paper Offer

Normal Registration One-Click

Sent 23,982 5,012

Opened 2,631 (11.0%) 761 (15.2%)

Clicked 589 (2.5%) 73 (1.46%)

Downloads 220 (0.92%) 73 (1.46%)

Rate of registration about 1.5X Baseline


Comparison: Webinar Registration


Sent 81,503 25,369

Opened 88.9 (10.9%) 1,858 (11.3%)

Clicked 348 (0.43%) 132 (0.52%)

Registrations 128 (0.16%) 132 (0.52%)

Rate of registration > 3X baseline


Comparison: Infographic Download


Sent 9,367 10,608

Opened 1,730 (18.5%) 1,855 (17.5%)

Clicked 369 (3.9%) 353 (3.3%)

Downloads 29 (0.31%) 353 (3.32%)

Rate of Registration > 10X Baseline


Marketing Automation Lessons

• Define your sales process

– “Staple yourself to a lead”

• Segment your customers, plan content accordingly

• Develop a plan to create content

– Quality AND Quantity

– Mapped to each stage of buying cycle.

• Have marketing staff capacity, training & knowledge transfer

– Time and effort savings . . . But only AFTER the learning curve

• Look beyond email – incorporate events, social, etc.

• Start small, replace existing processes, master capabilities and grow your program


Lessons:

• There is a different willingness to share information depending on asset type:

– Low Willingness: Data Posters/Infographics or Video

– High Willingness: Webinars, White Papers

• Still, there is almost always some improvement using one-click/no-form response

• This won’t work if you don’t use some form of Marketing Automation for click-tracking

• Good data quality is essential – we used ReachForce data append before even thinking of this type of program.

Thank You

booth susina 2013-0828-final pdf version

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