dreamforce 2013 - 10 ways marketing automation and inbound marketing work together
DESCRIPTION
You've heard the buzz about marketing automation and inbound marketing, but do you really grasp their full potential – and how they work together to drive revenue? In this Dreamforce 2013 session, Jon Miller, co-founder and VP Marketing at Marketo, and Rand Fishkin, CEO of Moz, join forces to share their “secret sauce” for driving their own company’s growth. You'll see how the experts at Marketo use marketing automation themselves, including actual results and metrics. And you’ll learn how Moz uses content, SEO, social, community, and email to attract thousands of new customers.TRANSCRIPT
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
10 Ways Marketing Automation and Inbound Marketing Work Together
Marketo & Moz
Page 2© 2013 Marketo, Inc. @jonmiller
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)
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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?
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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
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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
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Sounds great, but I have millions of contacts!
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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.
Nope.
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?
Nyet.
Nein.
Nada.
The best Facebook ads rarely reach 2%
CTR.
Where Does the Web Click?
*Via Forrester’s Interactive Marketing 2012 Report
PAID MARKETING~10% of TRAFFIC
$40 Billion of Investment in
2012*
$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
A Tale of Two Marketers
SPENDS $500 AVG.
TO ACQUIRE A CUSTOMER
BUYS TRAFFIC w/ADS & LINKS
A Tale of Two Marketers
KNOWS YOU’RE BUSY
WAITS FOR YOU TO BE INTERESTED
SPENDS $500 AVG.
TO ACQUIRE A CUSTOMER
BUYS TRAFFIC w/ADS & LINKS
A Tale of Two Marketers
EARNS TRAFFIC w/INBOUND CHANNELS
SPENDS $100 AVG.
TO ACQUIRE A CUSTOMERSPENDS $500 AVG.
TO ACQUIRE A CUSTOMER
BUYS TRAFFIC w/ADS & LINKS
A Tale of Two Marketers
#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.
vs.
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
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What works for us at the Top of the Funnel?
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
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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
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
But we also use a Portfolio of programs
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JUNEDATE:
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Sponsored Email builds the database, but low conversion
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Webinar, tradeshow, PPC, and virtual tradeshow are top paid TOFU
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Paid Social & Display Ad drive brand and amplify inbound as well
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Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources.
Average days to Opportunity: 327 days
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Sales doesn’t want
names – they want
“Win Ready” leads
@jonmiller
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Sales Ready
Source: RainToday
25%
50%
25%
2%
Need More Nurturing
Disqualified
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Lead Nurturing: Building relationships with
qualified prospects regardless of their timing to buy
Get the “Definitive Guide to Lead Nurturing”marketo.com/DG2LN
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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
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Relevance
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More Targeted Sends are More Relevant
100 1000 10000 1000000
50
100
150
200
250
300
350
400
Email Send Size
Enga
gem
ent S
core
Source: 100s of Marketo campaigns
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2 31. BUYING STAGES
• Early: Be a Better Marketer• Mid: Why Marketing Automation• Late: Why Marketo• Customer: Success
2. BUYING PROFILES• Marketing, Sales, Exec
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Dynamic Content
Industry, Geography, Company Size, Customer
vs. Prospect, etc.
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The Key to Relevance is Behavioral TargetingTop Tactics to Increase Email Engagement
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Example: Topic of Interest Triggers
• Attends event• Downloads content• Click email• Fills out form• Score is changed
Social
Content
Technology
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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%
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Smart ListsI can do this
myself! No trips to see IT – yay!
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Scoring and Lead Management
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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
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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
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• 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
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One Way to Identify Marketing Qualified Leads
A Lead Lead Lead
B Lead Lead
C Lead
D4 3 2 1
Fit
Behaviors
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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
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Stars and Flames show priority
Full list of Interesting Moments
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Revenue Analytics
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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
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Track All Touches Across People
Screenshot: Marketo Revenue Cycle Analytics
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Track All Touches Across People
Screenshot: Marketo Revenue Cycle Analytics
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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
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Source: Marketo Revenue Cycle Analytics, Nov 2013* Percentage of all programs in channel that achieve MT Ratio > 5
% Above Min*
89%
41%75%
57%
66%10.4
73%67%
76%
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Source: Marketo Revenue Cycle Analytics, Nov 2013* Percentage of all programs in channel that achieve MT Ratio > 5
% Above Min*
89%
41%75%
57%
66%10.4
73%67%
76%
(MT) Ratio = Pipeline / Investment>10 is Great and <5 is Fail
Webinar = 54!, Tradeshow = 6.9, Sponsored Email = 3.8, Content Syndication = 9.6
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Source: Marketo Revenue Cycle Analytics, Nov 2013* Percentage of all programs in channel that achieve MT Ratio > 5
% Above Min*
89%
41%75%
57%
66%10.4
73%67%
76%% Programs with MT Ratio > 5e.g. Content Syndication has good average but 43% programs “fail”
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Nam
e
Awar
enes
s
Frie
nd
Enga
ged
Targ
etTOFU MOFU
Opportunity Customer
Lead
Sale
s Le
ad
Nurturing Database
BOFU
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Revenue Cycle Modeler
Screenshot: Marketo Revenue Cycle Analytics
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Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc.
Key topic areas:• Balance (Reach)• Flow• Conversion• Velocity
Trends over time
Screenshot: Marketo Revenue Cycle Analytics
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Use Metrics to Set & Justify Budgets
New TargetsNew MQLsScore>100
23,000
Inventory of Active MQLs
20,000
New Opps*
1,000
6 Month Created Opp Inv.
2,000
270
*Opps is bigger than SQLs because includes outbound and partner referrals
SDR capacity driven
Inb
ou
nd
/ P
rog
ram
s
120K(900K DB Total)
New Names
New SQLs
922
Win
s
Inventory Of Active Targets
60,000
131,000
15.3%
10.5%
2.4%
1.9%
75%35%
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Get the “Definitive Guide to Marketing Metrics & ROI”marketo.com/DG2MM
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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
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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
#df13
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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
#df13