dreamforce 2013 - 10 ways marketing automation and inbound marketing work together

10 Ways Marketing Automation and Inbound Marketing Work Together

Marketo & Moz

Leader in cloud-based marketing automation

>2700 customers in 36 countries

>150 ecosystem partners

>40,000 active Marketing Nation community members

>400 employees in U.S., Europe, Australia

Thought Leader driving the market agenda

Marketo Fast Facts

(MKTO)

1. What is Marketing Automation

2. What is Inbound Marketing

3. How Moz Does Inbound

4. How Marketo Uses Marketing Automation

Download Slides

bit.ly/DF13-10tips

What Is Marketing Automation?

Source: The Corporate Executive Board Company, “The Digital Evolution in B2B Marketing,” 2012.

Convert more prospects, more quickly

Build relationships with prospects and customers

Execute campaigns incredibly fast

Measure and optimize

Database of Record

Web Email Social Transactional& CRM

Campaign History

Demographic Firmographic

Workflow / Automation

Multi-Channel Program Execution

Analytics

Online Marketing

Rich Behavioral Database

Multi-Channel Conversations

Program ROI Analytics

Lead Management

Revenue Analytics

Sends mass emailsTracks open rates and clicksEasy to build landing pages and forms

Website behavior trackingEasy to create dynamic segments based on cross-channel behaviorsPowered by a smart marketing database (demographics, behaviors, transactions)

Easy to create multi-step campaigns with conditional logicIntelligently delivers content with Smart StreamsCoordinate cross-channel interactions (direct mail, SMS, etc.)Social sweepstakes and referral applications

Ability to define and measure a data-driven view of the buying cycleCustomizable time series reporting on marketing performance

Behavioral and demographic scoring to prioritize engagementComprehensive and flexible integration with CRM systems

Manage marketing budgets and forecasts seamlessly across teamsMeasures impact of marketing programs on revenueAbility to define and measure a data-driven view of the buying cycle

Comparing Marketing Automation with an ESP Email Service Provider Marketing Automation

DOWNLOAD MARKETO RFPwww.marketo.com/rpf

Sounds great, but I have millions of contacts!

Processes at scale

How to Rock Inbound Marketing

Rand Fishkin | tweet @randfish | slides on Slideshare.net/randfish

Over the past 5 years, Moz has grown both traffic and customers by more than 10X. Learn the weird and wonderful ways Moz leverages marketing strategies, tactics, and channels to build an inbound software business.

Inbound vs. Interruption

Why Focus On Inbound Channels?

#1Click Distribution

A bit here.

A little here.

A Teensy Bit Here.

Where Do Searchers Click?

Only 18% of clicks go here.

82% go here.

Where Do Searchers Click?

Where Do News Readers Click?

Not here.

Rarely here.

Banner ads are lucky to get 0.1% CTR.

Where Do Tweeters Click?

Fuggadaboudit.Less than 1% of clicks go

to promoted tweets.

Where Do Facebook Users Click?

The best Facebook ads rarely reach 2%

Where Does the Web Click?

*Via Forrester’s Interactive Marketing 2012 Report

PAID MARKETING~10% of TRAFFIC

$40 Billion of Investment in

$5 Billion in 2012*

INBOUND MARKETING~90% of TRAFFIC

#2Cost of Acquisition

A Tale of Two Marketers

STEVE GREG

INTERRUPTS YOUR DAY

SELLS YOU SHITYOU DON’T NEED

SPENDS $500 AVG.

TO ACQUIRE A CUSTOMER

BUYS TRAFFIC w/ADS & LINKS

KNOWS YOU’RE BUSY

WAITS FOR YOU TO BE INTERESTED

SPENDS $500 AVG.

EARNS TRAFFIC w/INBOUND CHANNELS

SPENDS $100 AVG.

TO ACQUIRE A CUSTOMERSPENDS $500 AVG.

#3The Flywheel Effect

Flywheels are Hard to Get Started

But, with Each Turn, Generate Momentum

An Example from the World of SEO:Create KW-

targeted contentLaunch, promote,

earn links & shares

Reach a wider audienceRank highly,

earning add’l ongoing visits

New links & audience make it easier to promote/

rank next time

The Inbound Marketing Funnel

Moz’s Funnel

Content, SEO, & social drive top of funnel.

Community, tools, & email drive deeper engagement

Limits on free tools & access to paid tools drive free trials

85%+ of free trials & 95%+ of traffic comes from inbound (non-paid) channels.

We use an in-house tool called “Gizmo” to visualize our funnel

5 Tips to Get the Most from Your Inbound Efforts

#1The Right Content > More Content

A daily/weekly blog isn’t the best or only way to do content marketing right.

For many sites, just a few high-value content pieces each year is enough to earn remarkable returns.

Several of our single resources (like this Algo Change one)

garner more traffic than 50+ blog posts combined.

The big challenge is, to get it right, you usually need to be willing to try, fail, and try again many times.

http://moz.com/rand/so-why-do-i-have-the-platform-the-recognition/

Give up here…

And you’ll never make it here.

#2Data Yields Smarter Social Sharing.

Sharing at the right time makes a huge difference.Via: http://followerwonk.com

Tracking my shares and testing different formats has made me smarter about posting.

Via: http://bit.ly

For example, links I share on Google+ and Facebook work far better when joined by an image.

In many cases, I just take a screenshot of the

content on the page.

My best tweets follow the format: TEXT – LINK – TEXT.

Using my Twitter churn chart, I can see what activities have the greatest impact on growing followers.

Via: http://followerwonk.com

My social following seems to benefit most when I speak at events or give webinars

And suffer most when I share links or opinions on political subjects.

#3If You’re Going to Do Video, Do It Right.

This is Whiteboard Friday, a weekly video series on Moz.

http://moz.com/blog/category/whiteboard-friday

We start by targeting topics & keywords we know our audience cares about.

We use Speechpad to give the video a text transcript (good for accessibility & SEO).

We use our social networks to amplify the video’s reach.

We host on Wistia, to get detailed video analytics and our own embed code.

And we use Video XML Sitemaps to get the rich snippet in Google’s search results, sending even more traffic.

The results have been remarkable.

More Tips on Video & Whiteboard Friday

http://wistia.com/learning/weekly-videos-with-moz

#4Google+ is Like Cheating at SEO.

These show up because the writers have used Google+’s rel=author integration.

This only ranks because I follow Cyrus on Google+

Virtually everything shared by those I follow on G+ will rank for even the broadest of keywords on page 1.

In some fields, for some sites, it may be easier to get your audience to follow you on Google+ than to rank using classic SEO.

http://moz.com/blog/using-google-plus-to-appear-in-the-top-results-every-time-whiteboard-friday

#5Use Different Tactics for Different Stages.

Where, in your funnel, is your greatest area of opportunity?

If brand awareness and first time traffic is the challenge, content &

SEO are great tactics.

If people aren’t coming back, social, email, & regularly-updated resources may be the right move.

If conversion rates are low, you may be attracting the wrong audience, telling the wrong story,

and/or failing to overcome objections.

You don’t have to do all of these to have success.

http://www.kaushik.net/avinash/see-think-do-content-marketing-measurement-business-framework/

Here’s to Better Marketing!Find Rand on the Web: Blog, Twitter, Facebook, Google+

How Marketo Uses Marketing Automation

What works for us at the Top of the Funnel?

Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.

Like Moz, inbound creates the best leads by far: high conversion, high velocity

But we also use a Portfolio of programs

JUNEDATE:

Sponsored Email builds the database, but low conversion

Webinar, tradeshow, PPC, and virtual tradeshow are top paid TOFU

Paid Social & Display Ad drive brand and amplify inbound as well

Average days to Opportunity: 327 days

Sales doesn’t want

names – they want

“Win Ready” leads

@jonmiller

Sales Ready

Source: RainToday

Need More Nurturing

Disqualified

Lead Nurturing: Building relationships with

qualified prospects regardless of their timing to buy

Get the “Definitive Guide to Lead Nurturing”marketo.com/DG2LN

The ROI of Lead Nurturing

Fast Leads ( MQL <1 mo)

Slow Leads (MQL >1 mo)

Total Leads (MQL)

Cost / Lead (MQL)

Without Nurturing 20% 6.67% 26.67% $206.00

WithNurturing 20% 20.0% 40.0% $137.50

Source: Actual Marketo data; assumes $55 per prospect 3X!

Marketo ROI Results

Results: 50% more marketing qualified leads from lead nurturing

Relevance

More Targeted Sends are More Relevant

100 1000 10000 1000000

Email Send Size

Source: 100s of Marketo campaigns

2 31. BUYING STAGES

• Early: Be a Better Marketer• Mid: Why Marketing Automation• Late: Why Marketo• Customer: Success

2. BUYING PROFILES• Marketing, Sales, Exec

Dynamic Content

Industry, Geography, Company Size, Customer

vs. Prospect, etc.

The Key to Relevance is Behavioral TargetingTop Tactics to Increase Email Engagement

Example: Topic of Interest Triggers

• Attends event• Downloads content• Click email• Fills out form• Score is changed

Social

Content

Technology

Standard Nurture Triggered Interests 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%

Smart ListsI can do this

myself! No trips to see IT – yay!

Scoring and Lead Management

Lead Scoring Defined“Shared sales and marketing methodology for ranking

leads in order to determine their sales readiness”

Nurture Nurture DisqualifyPass to Sales

Pass to Sales

Fit Interest Buying Stage

Demographic “Fit” Score

Positive Demographic Score• e.g., Marketing Manager title, known CRM customer,

known competitive solution customer

Negative Demographic Score• e.g., Generic email address, illegitimate phone number,

non-existent company (unemployed, self, looking)

Data Augmentation, Not Forms

• Click email: +1• Visit webpage / blog: +1• Early stage content +3• Attend webinar: +5• Decay inactivity:

-1, -5, -10

Latent Behaviors (Engagement)

• Free trial or Contact request: +15• Pricing pages: +10 • Demos: +10• Late-stage content +12• Searches for branded keyword

“Marketo” +8

Active Behaviors(Buying Intent)

Get the “Definitive Guide to Lead Scoring”marketo.com/DG2LS

One Way to Identify Marketing Qualified Leads

A Lead Lead Lead

B Lead Lead

C Lead

D4 3 2 1

Behaviors

No Lead Left Behind: Service Level Agreements

Day 0 Notification

Day 1 If untouched, reminder

Day 2 If untouched, reminder cc boss

Day 3 If untouched, alert executives

Day 7 If stale, reminder

Day 8 If stale, reminder cc boss

Day 9 If stale, alert executives

Stars and Flames show priority

Full list of Interesting Moments

Revenue Analytics

Why Measuring Return is Hard

• Multiple touches. Seven touches needed to convert a cold lead into a sale

• Multiple influencers.Typical buying committee has 5-21 people

Track All Touches Across People

Screenshot: Marketo Revenue Cycle Analytics

Track All Touches Across People

Example: Multi-Touch AttributionA deal worth $100,000 recently closed. Three people were involved in the deal:

• Person A attended Seminar A and Trade Show B• Person B attended Trade Show B• Person C was sent Direct Mail C

$100,000 Revenue

$25,000 $25,000 $25,000 $25,000

Seminar A$25,000

Tradeshow B$50,000

Direct Mail C$25,000

Source: Marketo Revenue Cycle Analytics, Nov 2013* Percentage of all programs in channel that achieve MT Ratio > 5

% Above Min*

41%75%

66%10.4

73%67%

% Above Min*

41%75%

66%10.4

73%67%

(MT) Ratio = Pipeline / Investment>10 is Great and <5 is Fail

Webinar = 54!, Tradeshow = 6.9, Sponsored Email = 3.8, Content Syndication = 9.6

% Above Min*

41%75%

66%10.4

73%67%

76%% Programs with MT Ratio > 5e.g. Content Syndication has good average but 43% programs “fail”

etTOFU MOFU

Opportunity Customer

Nurturing Database

Revenue Cycle Modeler

Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc.

Key topic areas:• Balance (Reach)• Flow• Conversion• Velocity

Trends over time

Use Metrics to Set & Justify Budgets

New TargetsNew MQLsScore>100

23,000

Inventory of Active MQLs

20,000

New Opps*

6 Month Created Opp Inv.

*Opps is bigger than SQLs because includes outbound and partner referrals

SDR capacity driven

120K(900K DB Total)

New Names

New SQLs

Inventory Of Active Targets

60,000

131,000

75%35%

Get the “Definitive Guide to Marketing Metrics & ROI”marketo.com/DG2MM

Definitive Guide to Marketing Automationhttp://marketo.com/DG2MA

Definitive Guide to Marketing Metrics & ROIhttp://marketo.com/DG2MM

Search Engine Ranking Factorshttp://moz.com/search-ranking-factors

The Beginner's Guide to SEOhttp://moz.com/beginners-guide-to-seo

10 Tweetable Takeaways1. The way buyers buy has changed

forever – the way we market and sell must change as well

2. The right content > more content

3. Data yields smarter social sharing

4. If you’re going to do video, do it right

5. Google+ is like cheating at SEO

6. Use different tactics for different stages

@jonmiller@randfish

10 Tweetable Takeaways7. Be like a stock picker – don’t put

all your marketing into one program

8. Sales doesn’t want names, they want “win ready” leads – nurture and score relationships over time

9. The key to relevance is behavioral targeting

10.Use analytics to turn marketing from a cost center into a revenue driver

@jonmiller@randfish

Thank You

Jon Miller@jonmiller

jon@marketo.com

Rand Fishkin@randfishhttp://moz.com

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