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Although marketing automation has been around for 6+ years, many companies (B2B AND B2C) are just now in the consideration phase. This presentation offers an explanation of marketing automation in the context of modern digital marketing models (Paid, Owned, Earned in addition to the Digital Path to Success Model). We look at the relevant history leading up to marketing automation ("the missing platform"), in addition to how it works, it's core elements and some top-line stats regarding the reasons companies choose to use it.
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Contact: Jason Cormier Co-founder, Room 214 info@room214.com @jasoncormier
Marketing Automation An Understanding in the Context of Modern Digital Marketing Models
A social media and digital marketing agency with a focus on digital strategy, lead generation and visual storytelling.
Who is Room 214?
Credentials
Clients
Marketing Automation What is it? The Missing Platform
Today’s Marketing Models Paid, Owned, Earned The Digital Path to Success
How Marketing Automation Works The 10 Core Elements Personas and Lead Scoring Lead Nurturing
Marketing Automation Impact Top Reasons and Benefits Measurement & Stats
Agenda
Marketing automation is…
Marketing automation is hosted software that helps:
• Collect, qualify and manage leads
• Send relevant messaging to audiences at various stages of the buying cycle
• Improve measurement and optimization of marketing performance
Marketing automation is…
In 2013…
• Oracle bought Eloqua
• Marketo went public
• Salesforce bought Exact Target
Hot (“totally awesome”)
Marketing automation is NOT…
• Mostly an email platform that sends time-released spam
• A substitute for inbound marketing and great content
• Easy (no matter what they tell you)
Just for B2B anymore
What’s the big deal?
Just look at the history…
• 1980’s: Business software development was emerging, primarily in areas of word processing, accounting, manufacturing and HR
What’s the big deal?
Just look at the history… • 1990: Gartner Group coins the term “ERP” (enterprise resource planning)
• ERP = umbrella term for big-business software platforms
• What these platforms do? Automate efficiencies in supply chain and vendor management, accounting, human resources and sales, to name a few
What’s the big deal?
Just look at the history… • 2000: The emerging aspect of ERP is CRM (customer relationship management)
• Salesforce.com is 1 year old and its mission is “the end of software”
Note: “the cloud” is more than 14 years old
What’s the big deal?
After nearly 3 decades of software development…
What primary business function was still missing its own platform?
What’s the big deal?
Why was marketing missing a platform?
No other business function evolves: • As quickly • As frequently
POE model
Digital Path to Success Model
Let research and analysis inform strategy
BUYINGHABITS
BRANDAFFINITIES
ANALYTICS
ONLINEHABITS
COMMUNITY
INTELLIGENCE
CRITICALANALYSIS
RESOURCES
STRATEGY
GOALS
VIRAL
TRENDS
BRANDFILTER
Have a content plan
Audit & Inventory: What do you have, what should you have? Content Types: Trust-building, educational, UGC, conversion-based Distribution: Where does it go, long term vs. short term Optimization: How does it work best in each channel?
Make it all work together
Drive community, advocacy & more learning
Adapt, improvise, rinse, repeat
The leads / sales issue
• Only 20% of leads are followed up on
• 70% of leads are disqualified due to budget and lack of timing
• 80% of “bad leads” do go on to buy within 24 months
• 73% of companies have no process for requalifying leads
• 80% of sales after the 5th contact
Source: Sirius Decisions
How marketing automation works
List Building & Campaign Executions
Monitor Score & Segment
Qualified Leads Routed
To CRM
Nurture Leads with Relevant Content
Analyze Performance
The 10 core aspects of marketing automation
1. Email Marketing: Initial and scheduled delivery based on buyer interests, roles, personas and actions.
2. Landing Pages and Forms: For each campaign.
3. Campaign Management: Includes development or repurposing of content (creative, video, short and long-form).
4. Marketing Program Development: Associated offers and content to support sales.
5. Lead Generation: Associated advertising, social media, word of mouth and search engine visibility to drive participation in the system.
The 10 core aspects of marketing automation
6. Lead Scoring & Lead Nurturing: Includes prioritization of customer types based on fit and likelihood to buy, in addition to the filtering of leads by engagement and interest.
7. CRM Integration: Transfer of leads to sales opportunities and follow-up. This includes technical integration of platforms like Salesforce.com.
8. Social Marketing Capabilities: Includes integration of social media platforms such as Hootsuite to achieve better tracking and attribution of social to sales.
9. Lifecycle Management: Assumes existing customers are always leads, and keeps them in a system that continuously delivers relevant content.
10. Marketing Analytics: Includes measurement of the revenue contribution of each campaign and associated program element.
1. Create personas for your target audience
• Leverage social media and customer data research to obtain consumer insights
• Consider roles in job and/or family
2. Define leads and determine scoring
3. Map lead nurturing by persona & buying stage
Awareness & Interest
Consideration
Preference
Decision
Action
Answer:
• Who gets what content?
• When and why?
Benefits of lead nurturing
• Close sales faster (weeks instead of months)
• Decrease in Cost of Sales by 10%
• Improved Conversion Rates of qualified leads by 1.5 -3.0x
• Increase Leads and Quality of Leads
• Increase in Marketing ROI
Top 3 reasons companies do marketing automation
1. Need to increase new customer acquisition revenue
2. Lack of visibility in the sales pipeline
3. Inability to engage prospects with relevant marketing messages
Source: Aberdeen Group
Top 3 benefits of marketing automation
1. Saving time & money
2. Measuring & improving marketing investments
3. Faster revenue growth
What can you measure?
• Specific ROI by campaign, segment and channel (social, search, email, web, etc.)
• Leads and Opportunities at the campaign level
• Revenues generated from specific marketing activities
• Campaigns that lack in performance, knowing where to make adjustments
With or without marketing automation
• 107% better lead conversion rate
• 40% greater average deal size
• 20% higher team attainment of quota
• 17% better forecast accuracy
Source: Aberdeen Group
Companies with marketing Automation experience…
On a final note, always remember…
Great companies do what other companies know they should, but don’t.
Contact: Jason Cormier Co-founder, Room 214 info@room214.com @jasoncormier 866-624-1851 x101
Thank You!
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