Adding Predictive Marketing To Your Mix In 2015

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Session sponsored by!

#SPS2014

Adding Predictive !Marketing To Your !

Mix In 2015!

#SPS2014

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• Download this white paper. • View our podcast. • Take our assessment • …

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#SPS2014 Demand Gen Report: @DG_Report

LaGce Engines: @La.ce_Engines

Kerry Cunningham: @KerrySirius

Elle Woulfe: @ellehwoulfe

#SPS2014

About Demand Gen Report!

@DG_Report http://linkd.in/DG_Specialists

•  Launched in 2007 to track best pracPces in lead generaPon

•  NewsleBer has grown to more than 28,000 readers

•  We also offer a menu of research and best pracPces reports

•  New audio/video podcasts at DemandGenReport.com

#SPS2014

Panelists!MODERATOR:

Kerry Cunningham, Research Director, SiriusDecisions

Andrew Gaffney, Editor, Demand Gen Report

Elle Woulfe, Director of Demand GeneraPon,

La.ce Engines

Kerry Cunningham Research Director, Demand Creation Strategies 11/20/2014

Concepts and Considerations

Why Predictive for 2015

Agenda •  Conversion Rates – We Can Do Better

Agenda •  Conversion Rates – We Can Do Better •  The 67% Myth And Why It Matters

Agenda •  Conversion Rates – We Can Do Better •  The 67% Myth And Why It Matters •  What The Buyer’s Journey Really Looks Like

Agenda •  Conversion Rates – We Can Do Better •  The 67% Myth And Why It Matters •  What The Buyer’s Journey Really Looks Like •  The Mysterious Inhabitants Of Your MAP

Agenda •  Conversion Rates – We Can Do Better •  The 67% Myth And Why It Matters •  What The Buyer’s Journey Really Looks Like •  The Mysterious Inhabitants Of Your MAP •  Adoption And Usage So Far

Agenda •  Conversion Rates – We Can Do Better •  The 67% Myth And Why It Matters •  What The Buyer’s Journey Really Looks Like •  The Mysterious Inhabitants Of Your MAP •  Adoption And Usage So Far •  4 Keys To Predictive Success

Conversion Rates We can do better

To better understand why prediction is called for…

Why Predictive Is Needed

Definition of Terms AQL A lead qualified through

progressive profiling and lead scoring in marketing automation

TQL A lead that is qualified by teleprospecting and deliverable to sales

SQL A lead that sales has vetted and is putting into pipeline

Conversion % AQL > TQL 10%-30%

TQL > SQL 10%-30%

Conversion from AQL to SQL = 1%-10%

Today, most of that qualification involves teleprospecting and

sales calls

The Future of B-to-B Lead Development

Find clues that exist out in the world, which reliably point to

qualifying criteria & buying signals you would ask the decision-maker about if you could get him/ her on

the phone?

The Role of Data Science

SiriusPerspective:

The Lead Qualification 4-Box

Expensive/ Deep Cheap/ Deep

Expensive/ Shallow

Cheap/ Shallow

Slow/ $$$ Fast/ $

ualifi

The promise of predictive technology is to perform deep qualification of accounts and opportunities through data science and automation.

SiriusPerspective:

Expensive/ Shallow

Cheap/ Shallow

Slow/ $$$ Fast/ $

ualifi

Buying Lists

With Marketing Automation

With Predictive Modeling

SiriusPerspective:

Expensive/ Shallow

Cheap/ Shallow

Slow/ $$$ Fast/ $

ualifi

1.  List purchase and selection unsophisticated

SiriusPerspective:

Expensive/ Shallow

Cheap/ Shallow

Slow/ $$$ Fast/ $

ualifi

List Buys

SiriusPerspective:

Expensive/ Shallow

Cheap/ Shallow

Slow/ $$$ Fast/ $

ualifi

2.  Technology does yet more qualification

With MAP

SiriusPerspective:

Expensive/ Deep

Cheap/ Deep

Expensive/ Shallow

Cheap/ Shallow

Slow/ $$$ Fast/ $

ualifi

3.  And sales becomes more efficient

2.  Technology does yet more qualification

With Predictive

The 67% Myth (and why it matters)

67% …of the buyer’s journey ___________

67% is over before prospects talk to sales

67% is over before prospects talk to sales X

67% occurs through interactions with your digital assets

67% occurs through interactions with your digital assets X

67% of the buyer’s journey happens online…

67% of the buyer’s journey happens online… √

67% of the buyer’s journey happens online… and includes activity before and after prospects talk to sales √

of the buyer’s journey happens online… and includes activity before and after prospects talk to sales and involves your assets, your competitors assets, influencers, communities, social media… √

What the Buyer’s Journey Really Looks Like And what it doesn’t look like

The Buyer’s Journey - Fantasy

Fantasy Lead Scoring

“Oh, hey! I am feeling fully nurtured.”

Fantasy Lead Scoring

“I’ve established a budget and Pmeline, and I’m and ready to talk now…”

The Buyer’s Journey - Reality

The Buyer’s Journey – A Long, Winding and Often Hidden Road

“Oh, hey. Long time no see…”

“Thanks again for all that great information. Super helpful…”

“… So… yeah. Now’s not a good time… I just bought from your competitor.”

“But…. But… that’s not possible.”

“You’re only in stage 3 of the buyer’s journey…”

“We just degraded your score for inactivity.”

“I mean… have you SEEN your engagement score!!!”

4 Truths About The Buyer’s Journey

SiriusPerspective:

The Reality of Buyers’ Journeys To really understand buyer’s journeys, marketers need to see more

than what interaction with their own assets will tell them.

Sometimes you see them and

sometimes you don’t

SiriusPerspective:

They continue even when prospects stop interacting with you.

hBp://explodingdog.com/Ptle/thanksfornotanswering.html

SiriusPerspective:

Inactivity with respect to your assets may mean many things, and lack of interest is only one of those things

SiriusPerspective:

It is critical to understand where buyer’s are and to meet them where they are with relevant content

Summarizing Fo Far

1.  Buyer’s journeys are rarely linear 2.  Often happen out of our line of sight 3.  And require that we track prospect progress

outside of our digital walls

The Mysterious Inhabitants of Your MAP

Mssr. Sans Title

Mssr. V.P. Operations

Mssr. Romano Nameless

Mr. Johnny Depp

Not Johnny Depp

They may be ‘garbage,’ but they may be buyers (for your competitor). You’ll never know.

Yet another hidden cost of masked prospects…

? Contact 1 @ buyerco

Yet another hidden cost of masked prospects…

Contact 4 @ buyerco Contact 1 @ buyerco

Contact 2 @ buyerco

Contact 3 @ buyerco

Contact 5 @ buyerco

Adoption and Usage So Far

SiriusPerspective:

MAP-based Lead Scoring Is Far From Universally Adopted Even among users of marketing automation, just over two-thirds of

organizations are scoring leads.

16% Don’t score leads

68% Score leads

16% plan to score in 6 months

16% Don’t score

SiriusPerspective:

Most organizations that have implemented lead scoring do not have a viable model, and are therefore unable to realize full value of scoring.

MAP-based Lead Scoring Isn’t Impressing Sales

40% 68%

Score leads

16% plan to score in 6 months

16% Don’t score

Perceived Benefits of PLS

Of users agree that predictive lead scoring provides more value than traditional (MAP and point-based attribute and activity) lead scoring approaches

Of respondents said they would buy predictive lead scoring again. 98%

Agree that they are receiving value from their predictive lead scoring platform.

The Growth of Predictive Lead Scoring

The number of organizations adopting predictive is

growing rapidly

The Adoption of Predictive Lead Scoring

Is Failure a Prerequisite?

Rules—based lead scoring failure is not a pre-requisite for predictive lead scoring success.

4 Keys to Predictive Success

4 Keys To Predictive Success

Involve sales

Establish SLAs first

Set reasonable expectations

Establish mechanisms for capturing and using feedback

Key Take-aways

•  Conversion rates aber automaPon qualificaPon are sPll very low

•  The buyer’s journey conPnues online and through a variety of channels and media, even aber buyers meet sales

•  There may be a lot of value in the garbage contacts in your MAP that MAP can’t help you idenPfy

•  PredicPve lead scoring adopPon is climbing rapidly •  Having SLAs and enrolling sales in the development,

roll-‐out and fine-‐tuning of PLS is criPcal for success.

Elle Woulfe Director of Demand Gen

Lattice Engines

#MKTGnerd

Life Without Lead Scoring…

BEHAVIOR

PASS TO SALES

Know Everything That’s Discoverable

Growth Profile Employee, locaPon, facility, and contract growth

Social Presence

OperaPng Diversity Divisions, disparity of locaPons & personnel

Cloud Maturity CRM, MA, and provisioned infrastructure

Company Profile Size, credit raPng, news

Technology Profile Installed technologies and maturity ExecuPve Change Presence of new personnel

AdverPsing & External Investment Spend, trend, Pming, events

1,000s of Other ABributes

Web Page Visits

Video Views and Engagement

Title of Contact

Form ConversaPons

Downloads

Webinars ABended

Campaign Response Rates

Email Opens

Internal Data Sources

The PredicPve Opportunity

The PredicPve Opportunity…

Data Science

Predictive Analytics

ACQUIRE

CONVERT

ACCELERATE

RETAIN

INCREASE TOTAL

FUNNEL YEILD

Prioritize

Cultivate

Expand

Retain

Predict Your Next…

Predictability Across the Customer Lifecycle

Prioritize

Cultivate

Expand

Retain

BEST LEAD

Expand the Funnel: Identify Your Next Best

Lead Segment

Prioritize

Cultivate

Expand

Retain

BEST LEAD

Lead Segment

27% More Leads Passed to Sales

Prioritize

Cultivate

Expand

Retain

CONVERSION

Lead Segment

Curse of Abundance: Apply Ruthless

Prioritization

Prioritize

Cultivate

Expand

Retain

CONVERSION

Lead Segment

Prioritization

Increased Opportunity to Win Conversion: 37%

Prioritize

Cultivate

Expand

Retain

TARGET ACCOUNT

MQL Expansion: Identify Your Next Best

Lead Segment

Prioritization

Account Based Targeting:

Prioritize Tactics & Accelerate Conversion

Prioritize

Cultivate

Expand

Retain

TARGET ACCOUNT

Lead Segment

Prioritization

Increased ASP +26% Win Rate 75%

Prioritize

Cultivate

Expand

Retain

CUSTOMER

Lead Segment

Prioritization

Cross-Sell/Up-Sell: Target the Right Customer

with the Right Product

Increased ASP +26% Win Rate 75%

Prioritize

Cultivate

Expand

Retain

CUSTOMER

Lead Segment

Prioritization

Increased ASP +26% Win Rate 75% 2-3X Increase in Pipeline,

Deal Size & Conversion

Prioritize

Cultivate

Expand

Retain

RENEWAL

Lead Segment

Prioritization

Churn Mitigation:

Manage Renewals

Increased ASP +26% Win Rate 75% 2-3X Increase in Pipeline,

Deal Size & Conversion

#SPS2014

Submit Your Questions!

• Download this white paper. • View our podcast. • Take our assessment • …

#SPS2014

Q&A // Panelists!MODERATOR:

Kerry Cunningham, Research Director, SiriusDecisions

Andrew Gaffney, Editor, Demand Gen Report

Elle Woulfe, Director of Demand GeneraPon,

La.ce Engines

#SPS2014

Thanks for attending this session!!

Make sure to aBend the next session in the Strategy & Planning Series:

hBp://dg-‐r.co/sps_14

Adding Predictive Marketing To Your Mix In 2015

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