webinar: the urgency of marketing automation
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DESCRIPTIONSirius Decisions, Senior Director of Research Jonathan Block Marketing Automation technologies,including lead nurturing, lead scoring and lead management are critical today more than ever. How can these technologies improve your business? In The Urgency of Marketing Automation, industry analyst Jonathan Block will provide insight into how your peers are adopting marketing automation and the business impact they are seeing.
- 1.Manticore Technology Confidential Copyright 2009. All rights reserved. The Urgency of Marketing Automation Presented by Manticore Technology and SiriusDecisions April 7, 2009
2. Todays Webinar
- The Urgency of Marketing Automation Jonathan Block|Vice President and Service Director - SiriusDecisions
- Leveraging Marketing Automation Christopher Doran|Vice President, Marketing - Manticore Technology
3. The Urgency of Marketing Automation: Critical Processes 4. Field Marketing 1.0Our Foundation Systematic Repeatable Predictable Source:SiriusDecisions Lead Taxonomy Campaign Execution Target Marketing Handoffs Service-Level Agreements Lead Flow Process Technology Service Partners Metrics SiriusPerspective:Field marketing 1.0 introduced the concepts of discipline, process and sales/marketing collaboration. 5. Field Marketing 2.0
- The evolution of current best practices to new standards
- Evolving technology
- New practices that can now be executed effectively because of a 2.0 scenario
Adaptable, situational applicationof 1.0 principles and technology coupled withnext-generation best practicesthat better facilitate and support buying and sales cycles from cold to close Source:SiriusDecisions 6. Core Components: From Field Marketing 1.0 to 2.0
- Marketing -led, sales cooperative
One-size target,campaign, qualify Loose confederation of platforms and tools Ad hoc, often not integrated into the mix Marketing led, mainly program-focused Distinct marketing and sales ownership Adaptable target, campaign, qualify Platform-based, best-in-class tool augmented Surgically chosen, applied and woven into the system Service-level agreement based, funnel-wide Ownership Process Services Metrics Technology Component 1.0 2.0 Source:SiriusDecisions 7. Demand Creation Waterfall SiriusPerspective:The most effective b-to-b demand creators look at a shared demand waterfall in the context of automating processes.Inquiries A raw response, or hand-raiser to an outbound marketing program; relatively little is known about the prospect at this point. Marketing Qualified Leads (MQLs) A lead by way of definition and service-level agreement that is deemed ready for a receiving function to work. Sales Accepted Leads A lead that has been formally accepted by the receiving function; when this occurs, the receiving function is compelled to work the lead in a give time frame. Sales Qualified Leads (SQLs) A lead that has evolved into an opportunity, one that is deemed pipeline quality by the organization. Closed/Won Business An opportunity that has come to fruition. 8. MAP Goal: Avoid and Reclaim Wasted Leads Inquiries Marketing Qualified Leads(MQLs) Sales Accepted Leads Sales Qualified Leads (SQLs) Closed/Won Business Source:SiriusDecisions SiriusPerspective:The waterfall helps to determine which processes are worth your time to develop, refine and automate. Qualify 1 The process required to bring an inquiry to a certified level, including attributes/scoring levels Handoff 2 Transition of a lead from one function to another; service-level agreement based Nurture 3 Three flavors, depending on the funnel stageRecycle 4 For leads that have been disqualified at any funnel stage 9. MAP Goal: Help Accelerate Conversion Rates Source:SiriusDecisions SiriusPerspective:Marketing automation is critical to achieving best-in-class conversion rates. Waterfall Conversion Rates Inquiries 3.9% Marketing Qualified Leads (MQLs) Sales Accepted Leads Sales Qualified Leads (SQLs) Closed/Won Business 5.8% 9.7% Average Strong Process Best-in-Class 58.3% 65.6% 74.5% 49.1% 56.4% 60.5% 23.1% 26.9% 30.7% 10. Demographics BANT Activity
- Do you know the demographic profile of your buyers?
- Looks can be deceiving
- What happens when you enter new markets?
- Most organizations do not evolve their activity
- Takes time and technology to understand the desired arc of activity
- Buyers are liars
- Most of us know what to say to get what we want
- Depending on demand type, could be less relevant (realistic)
Process Deep Dive: Lead Scoring Source:SiriusDecisions SiriusPerspective:Used alone, each category has significant weakness; used together they are powerful. 11. Process Deep Dive: The Role of Tactics in Scoring
- Its hard to build activity into a scoring model when you are only interacting once
- The use of a portfolio approach opens the doors to multi-dimensional scoring
- The use of BANT combined with a one and done approach is particularly troublesome
Key Observations SiriusPerspective: If activity is so important, why are so many organizations ignoring it in their scoring schematics? % % Source:SiriusDecisions 12. The Need for Scoring Automation
- For scoring to work, it must be:
- Conducted off of a unified prospect database (or prospect databases that are linked together and regularly reconciled)
- The case for wide-scale, technologically enabled scoring can be justified using non-technological means
- Campaign tests
- List cuts
- New market penetration/testing
Source:SiriusDecisions SiriusPerspective:Technology is necessary to score across the full range of prospect interactions. 13. Automation Requirements
- Solves nothing with the proper inputs and outputs
- Agreed-upon baseline scoring system
- Plan and participants for a scoring review team
- Thresholds for lead transfer
- Action items/service-level agreements
- System to recycle rejected leads
- Attributes and weights based off of human belief; without significant data, they will be imperfect
- Many organizations are not set up to run portfolios of campaigns
- Organized, coordinate online and offline efforts
- Not yet predictive; this is the holy grail of scoring
Source:SiriusDecisions 14. A Marketing Technology Ecosystem Source: SiriusDecisions CRM Reputation Tools Marketing Resource Management Business Intelligence Channel Management Marketing Automation Platform 15. Marketing Automation Budgets Are Increasing Source:SiriusDecisions benchmarks-12%
- Local events are decreasing in favor of global programs for leverage.
- Broad-based branding programs are decreasing in favor of targeted product messaging.
- Decrease reflects changes in messaging due to the economy and tactical message needs.
- Field marketing technology, resources and program investments will rise.
- New industry messaging and tactical product level focus.
Event Marketing Advertising Marcom Field Marketing Solution Marketing SiriusPerspective:The technological heart of demand creation the marketing automation platform is no longer a luxury. 16. SiriusDecisions Demand Creation Technology Stack Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing ExecutionManagement Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis 17. Marketing Database Layer
- Flag redundant/incorrect data
- Detect data patterns/similarities
- Dynamically generate clean, validated lists
Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing ExecutionManagement Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis 18. Campaign Management Layer
- Develop, execute and track Web, email and direct mail campaigns
- Enable keyword search, search optimization
- Analyze/report on Web site visits, navigation
- Track Web site conversions
- Offer reporting/dashboard capabilities
Source: SiriusDecisions Layer One: Marketing Database Layer Four: Adaptive Marketing Layer One: Marketing Database Layer Two: Campaign Management Layer Three: Lead Management Predictive Marketing Long-Term Nurturing ExecutionManagement Customer Marketing Lead Scoring Lead Routing Portfolio Marketing Lead Distribution Interactive Marketing Online Telemarketing/ Teleprospecting Web Analytics Data Quality Data Integration List Building Data Analysis 19. Lead Management Layer
- Support multistep portfolios of campaigns
- Support flexible, rules-driven lead scoring