The case study describes how Symyx Technologies developed and executed an integrated go-to-market (GTM) strategy that grew revenue and bookings, penetrated new market segments, and increased brand equity for the Symyx Electronic Laboratory Notebook (ELN).
2. AN INTEGRATED MARKETING PROGRAM | 2
“The business enterprise has two and only two
basic functions: marketing and innovation.
Marketing is the distinguishing, unique function
of the business.”
Peter Drucker, The Practice of Management
4. AN INTEGRATED MARKETING PROGRAM | 4
JANUARY 2009 – JUNE 2010
In 2009, Symyx initiated an integrated marketing strategy intended to grow revenue and
bookings, penetrate new market segments, and increase brand equity for the Symyx Electronic
Laboratory Notebook (ELN). The program integrated print advertising, public relations, unified
digital marketing (website, micro-sites, banner ads, SEO, webinars, email marketing, and social
media), global telemarketing, and sales enablement. Following are the benchmarks, goals, and
results for the top-level key performance indicators (KPI).
PERFORMANCE PARAMETER BENCHMARK GOAL RESULT INCREASE
OVERALL REVENUE
1
$9.5M NA $18.3M $8.8M 93%
OVERALL BOOKINGS
1
$11.3M NA $16.8M $5.5M 49%
NEW MARKET SEGMENT BOOKINGS
2
$0.2M $1.6M $2.5M $2.3M 1,150%
NEW MARKET SEGMENT SALES OPPORTUNITIES
2
$1.0M $8.5M $11.8M $10.8M 1,080%
BRAND AWARENESS
3
22% 32% 45% 23 PTS 105%
BRAND CONFIDENCE
3
32% 42% 54% 22 PTS 69%
1
Benchmark is 2009 actual, and result is 2010 full-year estimate as of June 30, 2010.
2
Benchmark is 2009 actual, goal and result is for the 12-month period from July 1, 2009 to June 30, 2010.
3
Benchmark is from a third-party study completed November 2008, and result is from same third-party study completed November 2009.
5. AN INTEGRATED MARKETING PROGRAM | 5
PRINT ADVERTISING
The primary goal of the print advertising
campaign was to build brand equity—specifically
awareness and confidence. The creative approach
appropriated Steve Job’s metaphor of “a bicycle
for your mind,” in that the Symyx Notebook took
you places that were difficult to reach with a
traditional laboratory notebook, and it got you
there much easier and faster. It also appealed to
scientists who, in general, are more likely to camp,
hike, and mountain bike than people in other
professions. An early indicator of the ads
performance was its number one position in an ad
recall study, where it outperformed ads from
billion-dollar multinational corporations in
pharmaceuticals, analytical instruments, and life
science informatics—including Merck KGaA, Shimadzu,
and Waters—and achieved a 69% recall, versus a 43% average recall of the 16 ads studied.
6. AN INTEGRATED MARKETING PROGRAM | 6
MEDIA RELATIONS & THOUGHT LEADERSHIP
ELNs were initially introduced in the 1990s for
individual, domain specific applications. In 2008,
Symyx introduced an enterprise ELN that could
be used across multiple domains. The media
relations’ strategy was to establish Symyx as a
thought leader in the emerging enterprise ELN
market, and the goal was to author or appear in
12 feature articles in target publications reaching
lab scientists in chemistry and biology domains.
Between January and December of 2009, Symyx
authored or appeared prominently in 16 feature
articles in 12 target publications including Bio-IT
World, Bioscience Technology, Drug Discovery &
Development, Lab Manager, and Scientific
Computing.
7. AN INTEGRATED MARKETING PROGRAM | 7
BRAND EQUITY METRICS
Brand awareness and confidence directly affect
whether a buyer will consider purchasing your product.
Bio-IT World conducted a brand study in late 2008 to
benchmark the Symyx ELN and the leading
competitor’s ELN. The study was repeated in late 2009
to measure the effectiveness of the integrated Symyx
Notebook print advertising and media relations’
campaign. It showed that brand awareness and confidence for
Symyx Notebook had increased 23 and 22 percentage points,
respectively, and that gaps between Symyx and the leading ELN
competitor had narrowed significantly.
BRAND AWARENESS BRAND CONFIDENCE
2008 2009 IMPROVEMENT
2008 2009 IMPROVEMENT
SYMYX NOTEBOOK ELN 22%
45% 23%
32%
54%
22%
LEADING COMPETITOR’S ELN 49%
63% 14%
58%
65%
7%
SYMYX DEFICIT & IMPROVEMENT 27%
18% 9%
26%
11%
15%
8. AN INTEGRATED MARKETING PROGRAM | 8
SALES ENABLEMENT
Scientists are a special class of B2B technology customer. They are very
skeptical of advertising claims. On the other hand, they highly
value peer recommendations, and they live to publish
articles. Symyx published Molecular Connection, a high-quality
biannual journal, to take advantage of this desire. In 2009,
Molecular Connection included case studies from scientists,
laboratory managers, and information technology professionals
at pharmaceutical and biopharmaceutical leaders AstraZeneca,
Bristol Myers Squibb, Elan, Eli Lilly, Johnson & Johnson, Pfizer,
and Millennium.
Case studies are a very effective means of addressing a potential
buyer’s question, “How does a product or technology meet my specific
business need?” A survey of Symyx sales personnel at the end of 2009
ranked Molecular Connection as the top sales enablement tool, and
specifically cited case studies as key to closing several deals. Another highly
rated sales enablement tool was webinars, especially those that
incorporated case study presentations by customers.
9. AN INTEGRATED MARKETING PROGRAM | 9
OVERALL SYMYX NOTEBOOK REVENUE & BOOKINGS
The Symyx enterprise sales team sold directly to top 20 (over $1 billion in annual revenue)
pharmaceutical and biotech companies. The complex sales cycle averaged 12 to 18 months and
produced 7-figure deals. Marketing’s contribution to bookings in early 2009 was primarily
through sales enablement. In July 2009 marketing launched a new program that penetrated new
markets segments and directly generated opportunities that led to bookings.
$11.3
$9.6
$16.8
$18.3
$0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 $20.0
BOOKINGS
REVENUE
Millions (US)
OVERALL SALES PERFORMANCE – 2009 & 2010
2010
2009
10. AN INTEGRATED MARKETING PROGRAM |10
NEW MARKET SEGMENT PENETRATION & BOOKINGS
In July 2009, marketing launched a unified digital marketing program targeting 6-figure deals
with the 1,080 pharmaceutical and biotech companies beneath the top 20 (under $1 billion in
annual revenue). Between July 1, 2009 and June 30, 2010, $2.5M of new bookings was
generated (versus a projected target of $1.6M), and $11.8M of new sales opportunities was
added to the pipeline (versus a projected target of $8.5M).
$1.6
$8.5
$2.5
$11.8
$0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0
BOOKINGS
OPPORTUNITIES
Millions (US)
MARKETING DEMAND GENERATION SYSTEM PERFORMANCE – JULY 1, 2009 THRU JUNE 30, 2010
ACTUAL
TARGET
11. AN INTEGRATED MARKETING PROGRAM |11
A UNIFIED DIGITAL MARKETING PROGRAM
Between January and June of 2009, Symyx marketing developed a business case for a unified
digital marketing operation, and gained approval from stakeholders. This combined the existing
website and CRM (salesforce.com) with improved SEO and a new marketing automation tool
(Eloqua) which served as a hub for newly launched email advertising, micro-sites, banner ads,
webinars, and social media.
The unified digital marketing operation engaged global prospects from the new, target market
segment (smaller pharmaceutical and biotech companies), nurtured and tracked them through
the early stages of the buying cycle (awareness and discovery), qualified them through global
local-language telemarketing, and delivered well-qualified, late-stage prospects to sales. As a
result, the enterprise sales team was able to close the smaller, 6-figure deals within 3 months, on
average.
The following pages diagram and describe the overall unified digital marketing operation, the
workflow to generate, nurture & qualify prospects, the social media structure & strategy, and an
ROI comparison.
12. AN INTEGRATED MARKETING PROGRAM |12
A UNIFIED DIGITAL MARKETING OPERATION
NURTURING
& MONITORING
QUALIFICATION
CONFIRMATION
& PRESALE
PROPOSAL,
NEGOTIATION
& CLOSE
MARKETING ASSETS
ANALYTICS & REPORTING
AWARENESS DISCOVERY VALIDATION
SEARCH,
KNOWLEDGE
SHARING &
DIALOG
13. AN INTEGRATED MARKETING PROGRAM |13
WORKFLOW TO GENERATE, NURTURE & QUALIFY PROSPECTS
Nurture
Cycle
Profile Prospect
Track Behavior
Score Quality
Deliver to Sales
2
3
4
5
6
1
Micro-site Web
Form
White
Papers
& Case
Studies
Webinars
Global Local-Language
Telemarketing
Profile & Activities
Outbound
Email
Marketing automation
serves as a hub to
1) send outbound
emails with an offer to
target prospects,
2) that click-through
to the micro-site in
response, 3) where
they complete a
Web form to access
the offer. Thereafter,
4) prospects are
tracked as they
return to access
additional assets
and are nurtured
through the early
stages of the
buying cycle
(awareness and
discovery). Global
local-language telemarketing 5) follows up periodically to provide human contact and further qualify prospects. When
prospects are qualified as approaching the purchase phase of the buying cycle, 6) sales representatives access detailed
prospect profiles with a list of all their activities throughout the buying cycle.
14. AN INTEGRATED MARKETING PROGRAM |14
SOCIAL MEDIA STRUCTURE & STRATEGY
In Q2 2009, we audited our social media environment, and found that scientists, our target
market, used Facebook personally, but professionally they used LinkedIn, where ELN
communities already existed. Scientists followed blogs and viewed relevant videos and slide
ware from YouTube and SlideShare. Guided by the findings and best practices, we integrated
the following social media structure into our unified digital marketing strategy.
15. AN INTEGRATED MARKETING PROGRAM |15
RETURN ON INVESTMENT
Comparing results from a unified digital marketing program between July 2009 and June 2010
with demand generation in 2008 (tradeshows and outbound sales calls) shows that:
• Cost of demand generation programs was 20% lower
• Total dollar return of bookings and opportunities increased by a factor of 10
• Percentage return of bookings and opportunities increased by a factor of 15
MARKETING PROGRAM COST AND RETURN JAN – DEC 2008 JUL 2009 – JUN 2010
COST OF DEMAND GENERATION PROGRAM
TRADITIONAL EVENTS AND CONTRACT OUTBOUND SALES CALLS $2.0M
NEW B2B MARKETING SYSTEM $1.6M
VALUE CREATED FROM DEMAND GENERATION PROGRAM
SALES OPPORTUNITIES (SQL) $1.0M $11.8M
BOOKINGS $0.2M $2.5M
RETURN ON INVESTMENT
SALES OPPORTUNITIES (SQL) 50% 738%
BOOKINGS 10% 156%
16. AN INTEGRATED MARKETING PROGRAM |16
ABOUT BRUCE PHARR
I live in the San Francisco Bay Area with my wife and son. I hike in the
Santa Cruz Mountains, eat good food, drink good wine, root for the
SF Giants, and indulge a passion for the arts.
I serve as a strategic advisor, senior consultant, and contract
corporate executive with innovative science and technology
companies in life sciences, healthcare, energy storage,
instrumentation, and semiconductors.
I have a track record of helping companies create competitive
advantage, grow revenue and market share, and increase enterprise
value. And I’ve contributed to several successful M&A events. I am a
subject matter expert in basic, translational, and clinical research systems. I have led or contributed to the development
of market and product requirements for biomedical, genomic, and NGS products, written thought-leader white papers,
case studies, and articles for leading online and print publications, and developed and delivered presentations at major
biomedical conferences.
I led development and execution of the integrated go-to-market strategy described in this case study as VP, Marketing
at Symyx Technologies. The program helped position Symyx Notebook as a leading enterprise electronic laboratory
notebook (ELN) for life sciences, and it was instrumental in increasing enterprise value 140% (from a low of $2.39 per
share in March 2009 to $5.75 per share in April 2010) and achieving a successful merger with Accelrys in July 2010.