Matthew Zilli, Director of Product Marketing at Marketo, discusses the amazing capabilities of Marketo's new Customer Engagement Platform and how to achieve better marketing results.
12. The 7 Principles of
Engagement Marketing
Engage Customers:
• As individuals
• Based on what they do
• Continuously over time
• Wherever they are
• Always directed towards a goal
• With measurable impact
• At the speed of digital
19. Marketo Results
Standard Nurture Triggered Nurture 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%
49. Welcome to the Era of
Engagement Marketing
Engage Customers:
• As individuals
• Based on what they do
• Continuously over time
• Wherever they are
• Always directed towards a goal
• With measurable impact
• At the speed of digital
I’m going to kick it off by talking about how Marketo’s Customer Engagement Platform helps you to be a smarter marketer and get better results
It goes beyond Marketing Automation to give you all the tools you need for customer acquisition and loyalty
I’m going to talk about how Marketo supports a complete marketing process and give you some best practices you can use to improve your own marketing efforts
Marketing first company
Marketing first world
All about the person
Marketing Automation was born out of the idea that people don’t make decisions at once
And now they could get information they wanted whenever
AND over the course of that decision making process, it wasn’t right to have sales call repeatedly
Innovation is the core catalyst of value creation
Without innovation things remain stagnate, they don’t change
And if we’ve experienced anything in the last 5-10 years, it’s change
Marketing has changed more in last 10 years than in the last 100, and more in the next 10
Need to LISTEN
Therefore, strive for these three things!
On flow:
The problem is that too many marketers think of their marketing like a gumball machine – put a quarter in, get a candy… put a campaign in, get responses. But that’s not how customers think of it – they see each communication as part of a broader relationship.
“Every interaction is a link within the context of a communication supply-chain. Don't look at each discrete message, or even each campaign, as a unique event with a direct link to the end result. Marketing is not a candy machine. Instead, view each as a link in a chain of events each of which leads to other actions.” – IDC Technology Marketing Blog
For Marketo, it takes 327 days to nurture.. That’s an average… some fast, some for 3 or 4 years! Need to keep in touch.
Engagement marketing is all about focusing on the individual, understanding who they are, what they are interested in and communicating in a way that’s relevant to them. Marketo’s engagement engine has the ability to ‘get to know me as a person’ (when I wanted to be contacted, how I wanted to be contacted, at what times I want to be contacted, etc..)
McGraw-Hill Higher Ed provides digital learning solutions to universities around the country and abroad. MGH’s CONNECT online learning platform is being used by millions of students and professors globally featuring thousands of courses. MGH wanted to find a way to engage with each student and professor individually to drive adoption of the platform at scale.
Every student is different, therefore, has to be communicated with in a way that’s relevant to them. Marketo has enabled McGraw-Hill has to drive a significant increase in user engagement of their CONNECT platform.
MGH was able to quickly build hundreds and hundreds of*individual* nurture streams for each of their classes. This is doable with Marketo – easily made possible even with Clone and tokens, etc – and simply not do-able with any other product. Saw a significant uplift in student engagement. Wonderful example of individual/personal/durable/directed.
Result: Big lift!
More on our blog about this: http://blog.marketo.com/blog/2013/06/topic-of-interest-based-nurturing.html
So let’s talk about some of the findings and insights from the data.
The first is just how important content is to our content generation. All the checked channels rely on content as the core driver for capturing new targets.
They’ve converted, now what?
Build relationships by taking all the digital queues that customers give you about what want and don’t want, then engaging in regular communications that put their needs first.
Jimmy MacMillan III
Political activist, Vietnam war vet, postal worker, private investigator, stripper, karate expert
He’s obviously a great marketer and has a point
Marketo actually started writing its blog before they wrote a single line of code, and now more than 100,000 people every month who read it. It would cost us at least $10K per shot to reach a similarly sized and similarly qualified audience.
We stopped doing a lot of 3rd party tradeshows and only did the big ones, and took that money and put it into our own events. Get 100 people in hotel room for $20K and have them listening to our story for 3 hours, and then give them drinks and food. We’re getting their undivided attention. So for the price of a crummy booth at a tradeshow, we get their undivided attention for 3 hours. Again, we get to own our own attention.
Your website is the digital storefront to your business and buyers rely heavily on search engines to do research.
However, many marketers we’ve talked to don’t have the time or the right tools to do SEO well. But this can come at an expense….
Imagine if prospective buyers never knew you existed when searching for the products or services you offer
We wanted to give Marketers an easy to use SEO product that is quick to setup and that doesn’t require any specialized knowledge. And best of all, it gives you insight into who you are competing against for search ranking, and provides recommendations on how to improve. Now that’s pretty cool!
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Marketo lets you attract more prospects through an integrated SEO toolset that helps drive more quality traffic to your website in 3 ways:
Analyze keyword rankings and those of your competitor’s in order to identify opportunities to drive more, or higher quality site traffic.
Optimize web and landing pages based on specific recommendations that will help search engines crawl and index your content more effectively.
Understand which websites link to your and your competitors' websites, giving you the opportunity to identify new inbound links to drive additional traffic.
Drive up to 30% more website conversions
They’ve converted, now what?
Build relationships by taking all the digital queues that customers give you about what want and don’t want, then engaging in regular communications that put their needs first.
And we score across 3 dimensions. Fit, interest and where they are in their buying journey.
Fit tells me, am I interested in you.
Interest tells me, are you interested in me.
So they need to be interested in me (or my company), and I need to be interested in them. Actually, this is starting to sound a lot like dating, and that’s because it is. And in dating, timing also plays a role. So, maybe they are locked into another solution. Maybe they don’t have the budget. And this all relates to where they are in the buying stage.
So when we think about passing a lead to sales, we need to look at fit, interest and timing (or buying stage).
This is what it looks like to the SDR or Sales rep inside CRM
Leads are sorted by a single score, but reps can if the lead is scored high due to fit or engagement/buying intent, or both
Interesting moments show the lead’s activity, so they can have a more relevant conversation
This is how we help focus the sales rep on the hottest leads AND enable them to be more effective when they do connect with a prospect or customer
We know because we mapped the same pipeline we just saw in our product. This is the revenue cycle modeler in Marketo, and the stages across the green section represent the funnel stages we looked at before, so you see targets, leads and opportunities. Some stages are boxes because people can stay in those stages indefinitely, some are clocks, meaning there are SLA’s. Once this is setup and it begins tracking movement.
Detroit Pistons
We get this report, which is like Google Analytics for revenue. For each of those stages I can see how many people are in there, and what is the flow from stage to stage, as well as the velocity at which people are moving between them. Conversion rates and velocities.
And I can see this over time so we can understand the trends, and even compare them to previous periods.
Having this data at your fingertips is so powerful for a marketer, because it really lets us understand the dynamics of the revenue process.
Difficulty of attribution
We get a complete view of how this deal was won. Marketing was keeping in touch with Sarah before this opportunity was created. And the story behind this deal, which is a real deal we won, is that Sarah had downloaded a DG, gone to an event, and just before the opportunity was created, went to Manny, someone on her team, and asked him to investigate Marketo.
Only when you have a marketing system that can show you all of these touches across the buying journey, can you really understand how marketing is driving revenue.
So with the multi-touch framework in place, we can now get a deep understanding of how our marketing activities are driving pipeline and revenue for the company. In fact, we can PROVE it, giving that Marketing Director, VP or CMO a seat at the revenue table.
Here we see all the channels we showed early when we talked about generating targets, but now we can see how they are generating revenue.
I can see how much investment we’ve made in each channel. And notice that we call it investment, and not cost. And this is on purpose, because when we as marketers talk about costs, we are telling the world that we are a cost center and not someone who deserves a seat at the revenue table. When we talk about investments and returns, then we’re saying we belong in those discussions at the revenue table.
Ok, so we also show how much multi-touch pipeline, and how many multi-touch opportunities we generated from that channel, using the framework we just discussed.
They’ve converted, now what?
Build relationships by taking all the digital queues that customers give you about what want and don’t want, then engaging in regular communications that put their needs first.
Managing marketing budgets across teams and regions in order to get an accurate picture of marketing spend can be a tactical nightmare.
MFM makes it easy to manage marketing budgets by tying together campaigns, purchases orders and invoices in a single, up-to-date view, so you can:
Increase visibility, spend to plan, and get accurate program cost data for ROI reporting.
MFM makes it easy for marketing teams to collaborate on budgets and gives marketing leaders the visibility they need to manage spending.
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