Scale Your Marketing Strategy As You Grow
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Scale Your Marketing Strategy As You Grow
- 1. Scale Your Marketing Strategy As You Grow Heidi Bullock VP, Demand Generation @HeidiBullock Mike Kim Head of B2B Demand Generation
- 3. Page 3© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Growth Can Be Challenging
- 4. Page 4© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation To Grow, You Want to Be:
- 5. © 2015 Marketo, Inc. Marketo Proprietary and Confidential Page 5Marketo Proprietary and Confidential | © Marketo, Inc. 1/27/2016 50% 30% 20% Where Should You Focus? Revenue Model Organizational Structure Marketing Tech Stack Marketing Program Process
- 7. Page 7© 2016 Marketo, Inc. @HeidiBullock @marketo, #mktgnation Name Awareness Friend Engaged Target OpportunityCustomer Lead Sales Lead Nurturing Database Retain Advocate Enable Adopt Drive customer success to keep and grow relationships 1. Define Your Model
- 8. Page 8Marketo Proprietary and Confidential | © Marketo, Inc. 1/27/2016 2. Agree On Definitions • Program Success • Marketing Qualified Lead (MQL) • Sales Qualified Lead (SQL) • Opportunity (BANT) • Act Now, Call Now (Priority)
- 9. Page 9Marketo Proprietary and Confidential | © Marketo, Inc. 1/27/2016 Use Lead Scoring • Sort Score • Demographic (fit) • Behavior (activity) • Decay (inactivity) • Asset Scoring • Product Interest Scoring • Deal size & TA scoring
- 10. Page 10Marketo Proprietary and Confidential | © Marketo, Inc. 1/27/2016 3. Define Hand-Off Process
- 11. Page 11© 2016 Marketo, Inc. @HeidiBullock @marketo, #mktgnation 4. Agree On Measurement Prospect Lead Opportunity Win Sales WOM/Referral Inbound Paid % New % Inv
- 12. Page 12© 2016 Marketo, Inc. @HeidiBullock @marketo, #mktgnation 5. Demand Generation Forecast Leads Sep Oct Nov Dec Jan Feb Mar Apr Plan 1374 1434 1512 1581 1990 2000 2060 2127 Sep 1482 1500 1370 1600 Oct 1570 1370 1600 1605 Nov 1245 1400 1500 1612 Dec 1536 1990 2000 2060 Jan 2000 2060 2127 Opps Sep Oct Nov Dec Jan Feb Mar Apr Plan 100 104 109 114 125 130 135 135 Sep 101 103 103 114 Oct 109 103 116 119 Nov 123 134 119 120 Dec 137 130 134 138 Jan 115 130 135 135 Prospects Q3 2015 Q4 2015 Q1 2016 Plan 7,814 9,150 11,829 Sep 9,351 10,000 Oct 11,000 Nov 11,500 11,700 Dec 12,929 11,829 Jan 12,000 Plan Forecast Actual Wins Sep Oct Nov Dec Jan Feb Mar Apr Total 50 41 37 77 24 44 59 51
- 14. Page 14© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Today’s View Corp Comms Product Marketing Demand Generation Marketing Operations Partner Marketing Upstream Downstream Demand Center: • Event marketing • Nurturing programs • Portfolio marketing • Campaign execution • Teleservices • Data services/targeting Field Marketing: • Pipeline acceleration • Sales enablement • Account-based marketing • Campaign execution • Event management CMO Field Marketing
- 15. Page 15© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Solution Focused & Market Driven Corp Marketing Product Marketing Global Programs Demand Center Marketing Operations Channel Marketing Field Marketing Reputation Devlop. Influencer Relations Web Services Industry Solutions Solution Marketing Global Enablement Marketing Services Global Portfolio Campaigns Demand Center CMO Regional Demand Centers Regional Marketing Ops Project Management Systems Data/ Reporting Enablement Recruiting Campaign Managers Channel Demand Gen Pipeline Acceleration Enablement Manager Customer Marketing Content
- 16. Page 16© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Demand Center Demand Central Regional Demand Center Tele Services Nurturing Managers Web Marketing Data Services Tele Services Program Assembly Demand Center Account Management
- 17. Page 17© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Special Tips for Hiring for Growth 1. Loves to learn 2. Can be comfortable with the unknown 3. Has perseverance 4. Focuses on optimization 5. Great at collaboration 6. Is scrappy 7. Full of passion
- 19. © 2015 Marketo, Inc. Marketo Proprietary and Confidential Page 19Marketo Proprietary and Confidential | © Marketo, Inc. 1/27/2016 Martech Is Overwhelming…
- 20. Page 20© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation 1. Build a Solid Foundation
- 21. Page 21© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation 2. Identify Key Categories Lead Management Analytics and Reporting Data and Programs Content and Social Sales Enablement Voice of Customer examples
- 22. Page 22© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation 3. Avoiding a Frankenstack
- 23. Page 23© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Special Tips 1. Plan for the future – your database will only grow and ‘fixing it later’ will become exponentially more difficult 2. Investigate and test new technologies 3. Focus on the must haves – not nice to haves 4. You shouldn’t build everything in house (even if you have mad engineering skills) I can build that…
- 25. Page 25Marketo Proprietary and Confidential | © Marketo, Inc. 1/27/2016 1. Do not only think about acquisition Source: Forrester/BMA/OMI May 2014 Global Content Marketing Benchmark Online Survey Q. What are your top objectives for Content Marketing? To retain customers 12% To build Awareness 63% To generate demand 67% To enable sales activities 34% To increase loyalty 21%
- 26. More likely to drive revenue from an existing loyal customer, than a new prospect 1 Cheaper to upsell to an existing customer than to acquire a new one 2 1. Marketing Metrics 2. Pacific Crest SaaS Survey 3-4X Why Upsell & Cross-Sell Pay Off 81%
- 27. Page 27© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation 2. Set Clear Objectives Upfront
- 28. Page 28© 2016 Marketo, Inc. @HeidiBullock @marketo, #mktgnation 3. Know How You will Measure: Early and Late Early Late 1 • New names 2 • % New names 3 • Qualified leads 4 • Investment / lead 1 • FT ratio 2 • MT ratio 3 • # of meetings (ENT) 4 • pipeline
- 29. Page 29© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation 4. Evaluate Programs with a DG Lens What is the estimated # of attendees = 300 How many will you scan or engage with? 50% = 150 How many fit your target buyer demographics? 30% = 45 If the event costs $20K does this make sense?
- 30. Page 30Marketo Proprietary and Confidential | © Marketo, Inc. 1/27/2016 New Targets 60,000 131,000 Inventory Of Active Targets New MQLs Score>100 23,00015.3% Inventory of Active MQLs 10.5% 20,000 New Opps* 1,000 2,000 6 Month Opp Inv. 270 *Opps is bigger than SQLs because includes outbound and partner referrals Inbound/ Programs 120,000 (1.4M DB Total) New Names New SQLs 922 2.4% 1.9% 75% Wins 35% win 5.Use Metrics to Set & Justify Budgets
- 31. Page 31© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Special Tips 1. All companies may not be your ideal customer 2. Inbound is great – but leverage ABM and account scoring to bring in the optimal customers for your business 3. Do not be ‘married’ to any program – use data to make your decisions 4. Times move fast, so keep your mix evolving with the business
- 32. Page 32© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation 1. Define the stages of the revenue cycle, in alignment with sales 2. Structure your marketing team to be flexible and dynamic 3. Develop your tech stack thoughtfully – it’s the foundation of your house 4. Acquisition is important, but retention is equally as critical 5. Focus on the right customers, not all customers 6. Think big, start small, move quickly Takeaways @HeidiBullock
- 33. Mike Kim | Jan 2016 B2B Demand Generation Dropbox
- 34. Page 34© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Agenda • Team Purpose and Goals • Data and Analytics • Lead scoring • Marketing Stack • Nurturing
- 35. Page 35© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Team Purpose and Goals Demand generation at Dropbox is to create targeted marketing programs to drive awareness and interest in Dropbox Business as measured by pipeline and closed/won deals. We cover multiple areas of marketing including marketing programs, marketing operations and partner directly with sales and the channel to create and/or accelerate pipeline.
- 36. Page 36© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation 2015 DG Marketing Review Timeline Q1 – Organic leads only. Outbound Team formed. Q2 – Outbound Team organizes DG framework/process. Q3 – NorAm engine ramped. Marketing and Sales alignment. Q4 – NorAm lead generation full optimized for current budget and headcount. 350% increase in pipeline after DG engine is “turned on”
- 37. 2015 Review Data and Analytics
- 38. Page 38© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Data Lead Quality/Quantity Spectrum HIGH QUALITY / LOW QUANTITY Internal Leads (House List) Predictive Insights (Data from outside our firewall) List Acquisition (Cold Lists – Email Nurturing) LOW QUALITY / HIGH QUANTITY Content Syndication (Traditional CPL Programs) Tele-Qualified Leads (Pre-Qualified BANT) Appointment Setting (Instant Appointments) Active Projects (RFP Finder, Open Proposals)
- 39. Page 39© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Data Processes Hadoop Marketo Salesforce.comData Warehouse • Raw data - email and country only • Behavioral data on Dropbox usage • Data cleaning, append, normalization • Lead scoring – account and contact score • Intent to buy scoring • Actionable data – account and lead info • Nurturing campaigns • All marketing programs staged and executed from here • Sales-ready information • Performance data – pipeline, traction or rejection
- 40. Page 40© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Data Warehouse in Action What we know (Today): Name: Phil Jones Email: pjones@acme.com Phone: 212-867-5300 Company: Acme Industry: Manufacturing? Behavior: Been to a webinar, opened 2 emails What we will know: Name: Phil Jones Email: pjones@acme.com Company Phone: 212-867-5309 Direct Phone: 212-867-5309 Title: Sr. Director of IT Company: Acme Size: 500-700 employees Industry: Industrial Manufacturing Activity: Been to a webinar (Dec 2015), opened two emails Score: 85 out of 100 Why: • He has been doing research on TechTarget • Recently posted a question on Spiceworks • Three members of his team downloaded whitepaper on Box vs. Dropbox
- 41. Page 41© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Analytics Everything is measured. We know if we’re succeeding or failing. KPIs include: 1.Amount of open pipeline and the current stage. 2.Open pipeline by source (cohorted by type) 3.Weekly snapshot of pipeline status 4.Best (and worst) performing campaigns
- 43. Page 43© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Lead Scoring Highlights Profile Scoring Intent Scoring Native Net New Leads Real-Time Scoring • Development in Q2-Q3 • Production Q4 • Net new leads generated: $867k Stage2+ Yes Yes Yes No (once a day) • Development in 2014 • Re-launched in Q2 • External list + Vendor2 = scoring $166k Stage2+ Yes No No Yes • Development in Q3 • Production Q4 • Net new leads generated: $158k Stage2+ Yes No Yes Yes Vendor #1 Vendor #2 Vendor #3 Vendor Evaluation
- 44. Page 44© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Marketing Stack - DG Infrastructure Capture, Enrich and Accelerate Leads
- 45. Page 45© Marketo, Inc. 1/27/2016 @HeidiBullock @marketo, #mktgnation Nurturing There are 100 different emails based on: 1. Job title 2. Behavior/asset consumption 3. Active opportunity 4. Segment/company size 5. Vertical or key markets 6. Region
- 46. Thank you! Mike Kim Head of B2B Demand Generation Dropbox Heidi Bullock VP, Demand Generation Marketo
Hinweis der Redaktion
- Hi Everyone, my name is Heidi Bullock and I am the VP of Demand Generation at Marketo. I am excited to be here today to walk through some key principles for accelerating revenue growth within your company. For the purposes for this discussion we will really be focused on marketing. I do want to highlight marketing is ONE part of the equation--- there is also product, engineering, etc.– but marketing is a very important piece and becoming even more so. I will do a brief overview with tips, then Mike Kim from DropBox will provide a great example of what they are doing.
- To set the stage, I want to highlight what we are all focused on today and this can evolve over time as your business grows. You may initially be more focused on acquisition, and the over time the weights can change. For example, at Marketo when I started we were heavily focused on acquisition – and over time - this is still a focus, but we are shifting a lot more to thinking about customer marketing – specifically around retention, upsell- cross-sell, and advocacy.
- Now many of us want growth – because we all want to work and be part of successful companies. It would be nice to say it’s as simple as a particular formula – like eat your vegetables and you’ll grow, but it can be more tricky than that… Why? There is a rapid evolution of technologies More data then every before to manage and understand Due to new technologies and advancements, you often need a new skill set
- But how? It can seem daunting.
- Here are some key areas in marketing to pay attention to. This is by no means a comprehensive list – but it’s a great place to start. Revenue model - Prioritize and simplify your marketing goals – marketing and sales model Org- Key hires and your org structure Technology – apply new technologies and processes to improve efficiencies and accelerate success DG performance - Leverage campaigns that have the greatest likelihood of impacting business results
- This is really important - think of this as the blueprint for building your house. At Marketo, this was something we did very early on. I think they key things here are to: BIG THINGS: Define stages SLAs Making sure people are incentivized the same
- You don’t make these decisions in isolation. Several teams need to come together and define these terms – Marketing, Sales, Sales Development (Inside Sales), Marketing and Sales Ops.
- We use lead scoring for demographics fit (a VP of mktg. is scored higher than a marketing coordinator) For Asset scoring, we look at whether it’s an early stage or late stage asset and the level of engagement that’s required to consume it (for example, an infographic is just 1 point, but a 100+ page Definitive guide is 10 points) Behavior scoring: again, this is different depending on the early-mid-late stage of content and whether the behavior represents buying intent or not. E.g. visit to a pricing page +10, visit careers pages – minus 10 And of course, you need Marketing Automation software to activate the lead scoring and use it for all your campaigns.
- So you’ve been running all these great programs Goals for each team Do you have an SDR team in your organization? Or does Mktg. pass leads directly to sales?
- Identify a few key areas to manage to and watch closely.
- Ideal if you can forecast. It is optimal if you can forecast next quarter not just how you are doing today.
- Here’s an example of a marketing organization that is better fitted to adhere to the principles I talked about earlier, 2 impt things: There is an upstream team (Strategic) and a downstream team (Tactical) so there is a clear division of labor This fits nicely with the customer funnel (which I will talk about later) in terms of the customer buying journey Adheres to Principles: Content Machine: how is it created, make sure that it’s done Agility: Dynamic, organized for agility, react to external factors quickly Culture of Analytics & Testing (google), In God we Trust, everyone else bring Data Fail, Quickly, Measure Embrace Technology: have a demand center that absorb tech, create best practices, chief marketing strategist
- Set shared revenue targets and reward systems Integrate Sales and Marketing metrics Red box is really where Marketo’s Marketing Automation comes to play – helping to focus and streamline Global Programs, Demand Center, and Marketing Operations Themes: Provides information about customers & their needs Help businesses plan more effectively Better serves customers through distribution, pricing, credit, customer services Increase customer satisfaction Help businesses become more profitable by coordinating activities and controlling costs Principles: Content Machine: how is it created, make sure that it’s done Agility: Dynamic, organized for agility, react to external factors quickly Culture of Analytics & Testing (google), In God we Trust, everyone else bring Data Fail, Quickly, Measure Embrace Technology: have a demand center that absorb tech, create best practices, chief marketing strategist
- Demand Center is especially impt for a transformational organization – must have a focus/skill set on Data, Tele, Webmarketing that’s part of the Hub and the Spoke then focuses on program assembly, teleservices, nurturing, and account management Teleservices can sit under the Demand Center as your SDR (inside sales team) is compensated generally on sourcing new leads (same as marketing) where as sales is compensated on closing revenue Principles: Content Machine: how is it created, make sure that it’s done Agility: Dynamic, organized for agility, react to external factors quickly Culture of Analytics & Testing (google), In God we Trust, everyone else bring Data Fail, Quickly, Measure Embrace Technology: have a demand center that absorb tech, create best practices, chief marketing strategist
- Desire to learn: The shelf-life of knowledge today can be measured in months--so knowing how to learn and doing it, constantly, is crucial. These employees are insatiably curious and coachable. They have mindsets of continuous improvement and actively seek feedback. Ability to thrive amidst ambiguity: High-growth companies value people who are resilient, and can take initiative, assuming a role as a leader through uncertain and stressful circumstances. Perseverance. “Being able to deal with adversity is a huge component of what makes people successful in these circumstances [the usual rapid change of growth companies] so they can help the company advance.” Relentless optimization. “Employees who think they can find a way to do whatever they're doing better and faster, and are always striving to work harder and be stronger, provide the kind of relentless optimization high-growth companies need to get ahead.” Excellence at collaboration: Highly collaborative individuals are motivated more by the performance of a cohesive team over their own glory. They build strong professional relationships through trust and communication, and by showing appreciation for the contributions of their coworkers. Scrappiness & grit: These people exhibit the persistence, confidence, and can-do attitudes to make things happen, and are able to deliver results with limited resources and information. Full of passion!
- A frankenstack, a set of individual siloed tools an organization tries to make work together, is what you should try to avoid. A well constructed marketing stack has a CRM as the central hub – it’s where data is maintained and leveraged. Large enterprise organizations have ecosystems that are made up of more than just one platform. There may be a need for a CMS, CRM, and ecommerce platform just to name a few. What could be the norm in marketing technology now could change in the future. Depending on the organization type the needs change – some B2Cs need more robust ecommerce platforms while others don’t. The best way to avoid a frankenstack is to have a complete view of what your organization needs and wants to accomplish with the use of technology – without this an organization can mistakenly pick up one-off tools for specific tasks. Also, when both sales and marketing are aligned it decreases the chances of mistakenly purchasing tools that everyone doesn’t agree work best.
- Perfection is the enemy of good
- Special tips
- Yet, Marketers mostly focus on Acquisition – according to data from Forrester online survey, only 12% of content marketers focus on retention, yet A 2% increase in customer retention has the same effect as decreasing costs by 10%
- If you keep your customers happy, its 4 times more likely that you’ll generate more revenue from them than to acquire new prospects And, it’s 81 % cheaper to upsell to an existing customer
- It’s very important to have a framework and a time frame for measuring the results of your programs. Let’s consider our email nurture program and what you might measure over a 6 month period Engagement score (combination of clicks, opens, content downloads) May (in 5 months): Compare the results to historical – pre-nurture or to a control group that hasn’t been nurtured; in this example, nurture resulted in 4x the #of fast leads and 2x number or MQLs 6 months – 2x the number of opps
- Success Secret # 3 – Evaluate programs with a DG lens 444/lead = not good
- Here are out actual metrics… Focus on the very low conversion from MQL to SQL… since we are lose about MQL definition and don’t want to miss any deals…. But strict about what we pass to sales. We want that 75% SQL to Opp, since you want sales to value marketing leads… if it goes below 50%, sales doesn’t jump on SQLs as fast.
- Perfection is the enemy of good