Post on 21-May-2020
transcript
Introducing the
Assembled by LeadMD
L E A D M D E M P O W E R I N G M A R K E T E R S . P O W E R E D B Y T E C H N O L O G Y.
MARKETOQUICKSTARTGUIDE
Success with marketing automation hinges on coupling the latest in modern marketing strategy with truly scalable tactics and then managing the system for success.
The secret behind achieving two, three or ever four times returns on your Marketo investment is iteration based on analytic insights.
The reality is this: marketing automation is bigger than CRM and higher on the proverbial food chain of data. Too many people are treating marketing automation as a tool or a simplistic email platform.
The successful utilization of Marketo is a journey. It’s a marathon, not a sprint.
M A R K E T O Q U I C K S T A R T G U I D E
Success with Marketo is determined by three critical ingredients:
Your Strategy & Process
Your Data, Assets & Intelligence
Your People
What do I need to succeed with Marketo?
Once you shift your mind set and treat Marketo for what it is:
A foundational platform for the success of the
whole company, it will become precisely that.
Marketo is a powerful tool used to scale your marketing messaging and accelerate customer acquisition. But it’s not a flip of a switch. The #1 determinate of success with any MarTech is investment in proper process. This guide was assembled from the learnings and mindshare of over 2,900 Marketo implementations.
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Strategy & ProcessM A R K E T O Q U I C K S T A R T G U I D E
When rolling out a fresh Marketo instance, you can’t just automate your old (probably broken) processes. New technology requires new ways of doing things. When it comes to automating marketing, the most important thing to understand is the role of the marketer is also amplified.
Here are three integral processes that your company should examine as it considers a marketing automation rollout:
Sales & Marketing Alignment
Measurement & Metrics
EfficientLead flow
Do your teams agree on the definiton of an MQL?
What KPIs will you use to measure pipeline velocity?
Can you deliver the right message, at the right time, to the right people?
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Marketing automation can drive the most results when a company uses it as an opportunity to realign the entire revenue engine around the modern customer’s new buying cycle.
Sales & Marketing AlignmentM A R K E T O Q U I C K S T A R T G U I D E
• What defines a sales-ready lead?
• How does your lead qualification team prioritize their time?
• How will you implement lead nurturing for leads that are not yet ready?
• How will you recycle sales leads that don’t move forward?
• What service level agreements (SLAs) will you have for lead follow-up?
Both Sales & Marketing should be in agreement upon:
Marketo’s Revenue Cycle Model allows you to determine how leads are converting through your funnel. Your ultimate goal is to be able to report on this entire model.
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Some companies have too many leads and must score them before forking over only the highest quality, sales-ready leads. Other companies, especially new and small businesses, don’t have enough leads.
Efficient Lead FlowM A R K E T O Q U I C K S T A R T G U I D E
Marketo helps leads flow through the funnel more efficiently. When done right, it can nurture leads to make them sales-ready.
But if you have nothing coming into the top of your funnel, you’ll have nothing to nurture.
Content Promotions
If you don’t have enough sales leads, put a plan in place to get more. Do anything that will help to get prospects into the top of your funnel, such as:
Social Media Tradeshows Partnerships
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See Marketo’s Program Analyzer to determine what the ROI is around your marketing initiatives.
With marketing automation, you can look beyond traditional vanity metrics like clicks and opens. Instead, the focus can be placed on measuring (and forecasting) what executives really care about: current and future pipeline, revenue and profits.
Measurement & MetricsM A R K E T O Q U I C K S T A R T G U I D E
• What key metrics do you report on a weekly, monthly and quarterly basis?
• What key performance indicators (KPIs) will you use to determine if your revenue processes are on track?
• How do you measure campaign ROI?
• Do you know the true cost of your event or content efforts and how they impact bottom line revenue?
Ask yourself these questions and build reports around their outputs:
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A journey with you & your buyerToday’s buyers control their journey through the buying cycle more than vendors control the selling cycle. So before automating any processes, we must first understand the buyer’s journey, then map needs and key actions for each step.
M A R K E T O Q U I C K S T A R T G U I D E
Awareness
Lead LandWelcome to
population 50K
RIP
RIP
RIP
Graveyard
TASK
TASK
TASK
Where leads turn to contacts
AdvocacyWINNER
Conversion
Anonymous
Awareness
Plan to Close
Account Onboarding 90 Days in Account
Loyalty & Renewal
Moment of Purchase
New Leads AQL (Automation Qualified
Lead/Account)
MAL (Marketing Accepted
Lead/Account)
Early Stage Opportunities
SQL (Sales Qualified Leads/Account)
MQL (Marketing Qualified)
SAL (Sales accepted)
Client Way
WARNING!!!Don't ignore your current customers! Instead, focus on their success and turn them into raving fans and a referral source.
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These days, the funnel is more of an hour glass.Despite the hype, the sales funnel isn’t dead. It just looks different than it used to. Revenue opportunity doesn’t stop at the moment of purchase and neither should your funnel.
Here are the tactics & channels to keep your leads/accounts flowing like sand through the hour glass:
M A R K E T O Q U I C K S T A R T G U I D EEVENTS
BLOG
SEO
LISTS
CONTENT
SOCIAL
REFFERALS
WEB
� Blog � Content � List Purchase & Rental � Offline & Online Advertising � Press/Word of Mouth � Referral � Roadshow � Sales Generated � Conference/Seminar
� SEO � Social Media � Sponsored Event � Telemarketing � Tradeshow � Web Direct � Web Referral � Webinar � Website Resource
� Blog � Content � Email Send � Lead Lifecycle � Nurture Campaign � Offline & Online Advertising � Press/Word of Mouth � Referral � Roadshow � Sales Generated
� Conference/Seminar � SEO � Social Media � Sponsored Event � Telemarketing � Tradeshow � Web Direct � Web Referral � Webinar � Website Resource
� Blog � Content � Conference/Seminar � Email Send � Loyalty Programs � Nurture Campaign � Referral
� Sales Offer � Social Media � Sponsored Event � Tradeshow � Web Direct � Webinar � Website Resource
� Blog � Content � Email Send � Lead Lifecycle � Nurture Campaign � Conference/Seminar � Sales Offers
� SEO � Social Media � Sponsored Event � Web Direct � Webinar � Website Resource
PROSPECTPROSPECT
QUALIFY TO ENGAGE
90 DAYS IN, EXPAND, LOYALTY & ADVOCACY
OPPORTUNITY, CLOSING, SUPPORT & ON-BOARDING
(anonymous to awareness to new leads )
(AQL to MQL)
(SQL to SAL)
(Early stage negotiations)
(Closed Won)
(Pipeline)
NEW
ACQ
UIS
ITIO
N
RETENTIO
NACQ
UISITIO
N
MOMENT OF
PURCHASE
QUALIFY
ENGAGE
OPPORTUNITY
90 DAYS IN
EXPAND
LOYALTY
ADVOCACY
PLAN TO CLOSE
SUPPORT & ON-BOARDING
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Progressing through the hour glassLet’s zoom in a bit. Here’s what the best practice progression & success steps look like for our list of comprehensive marketing channels.
M A R K E T O Q U I C K S T A R T G U I D E
Channel Progression Statuses Progression Step Success?
BlogVisited 10Engaged 20
Subscribed 30
ContentMember 10Engaged 20
Direct MailVisited 10Converted 20
Email Send
Sent 10Opened 20Clicked 30Converted 40
Unsubscribed 50
Lead Lifecycle Follows your Mkting-Sales Process Varies Varies
List PurchaseMember 10Engaged 20
List RentalsMember 10Engaged 20
Nurture Campaign
Member 10Engaged 20Filled Out Form 30Passed to Sales 40
Unsubscribed 50
Offline AdvertisingVisited 10Converted 20
Online AdvertisingVisited 10Converted 20
Operational Member 10
Press/WOMVisited 10Converted 20
ReferralReferred 10Engaged 20
Roadshow
Invited 10Registered 20Attended 30
Engaged 40
Channel Progression Statuses Progression Step Success?
Sales GeneratedMember 10Engaged 20
Conference/Seminar
Invited 10Registered 20Attended 30
Engaged 40
SEOVisited 10Converted 20
Social MediaVisited 10Converted 20
Sponsored Event
Invited 10Registered 20Attended 30Engaged 40
TelemarketingMember 10Engaged 20
Tradeshow
Invited 10Attended 20Visited Booth 30Engaged 40
Web DirectVisited 10Converted 20
Web ReferralVisited 10Converted 20
Webinar
Invited 10Pending Approval 20Rejected 30Wait Listed 30Registered 40No Show 50Downloaded 60
Attended 70
Attended On-demand 75
Website ResourceVisited 10Converted 20
To get channels done right: add the applicable marketing channels and their details listed above to “Tags” in the admin area of Marketo.
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M A R K E T O Q U I C K S T A R T G U I D E
Data, Assets & IntelligenceIf Marketo is the rocket, then data and content assets are the fuel. Can you fill your tank and blast off to discover new galaxies of buyers?
For modern marketers, attention is everything. Your ability to attract and capitalize on your buyer’s attention is synonymous with driving qualified demand. So if you’re catching people’s attention, you’ve got to make sure they’re the right people.
Keeping your data clean
Ensure the Quality of Your Data
Getting your assets in line
Create Caliber Content
The critical dimensions of messaging are who and when. By organizing content around these three dimensions we can evaluate the quality, quantity and purpose of marketing content. At the same time, you’ll reveal the gaps within your content library that need to be filled.
PRO-TIPEnsure you involve sales leadership and any other critical stakeholders in this process. Their buy-in will be essential for establishing sales and marketing alignment.
Finding the right people
Identify Your Best Buyers
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Identify your best BuyersM A R K E T O Q U I C K S T A R T G U I D E
Once you’ve begun to optimize your processes and orient them to more closely match the buyer’s journey, you can begin the work of developing buyer personas.
What’s a buyer persona?A buyer persona is a detailed profile of your ideal buyers based on market research and real data about your actual customers. Personas are often based on customer demographics and behavior, along with your own understanding of their motivations and challenges. The more detailed your personas are, the more results they’ll yield.
Sidenote: This seems A LOT of work, but the benefits far exceed any roadblocks you may encounter. Buyer personas will help you:
Benefits of building personas
How to get the ball rollin’.
To get all of the details you need, interview & survey customers, prospects, and members of your marketing, sales and customer success teams, this is what we call “in-head data.”
Combine this in-head with behavioral (Marketo) and demographic (Salesforce) to get the most detailed profiles for your buyers.
Determine what kind of content you need for each phase of the buyer’s journey
Tailor your content to prospect pain points
Assign leads/contacts to account reps that resonate with that type of buyer
Create unique content that addresses the real concerns, needs, interests, likes and dislikes of your buyers.
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PERSONA’S NAME
PERSONA’S JOB TITLE/ROLE
ROLE IN THE BUYING COMMITTEE
NEED/MOTIVATION
� Decision maker � Executive sponsor � Influencer
� As a I’m concerned � As a I don’t have � As a I worry about � As a I wish
� As a I want to � As a I need to � As a I must
Low High
( i.e. Go Getter Grace )
( i.e. CMO or VP of Marketing)
Ready set go...(build some personas!)M A R K E T O Q U I C K S T A R T G U I D E
To create buyer personas that faithfully represent your customer base, get as granular as possible around who these personas “are” and what they care about. Then you can build messaging that actually converts. To get started, gather your team and answer the questions on this persona worksheet.
Create a 100 to 200 word overview describing this person. Include responsibilities, personal preferences, age, gender, experience & daily activities - anything that will help you understand your buyer’s brain!
List all the challenges and concerns that commonly affect this person. FYI: We phrased these like user stories! This will help you get into the agile marketing framework. Here’s an example:
Now it’s your turn! Give it a go:
PERSONA OVERVIEW
PAIN POINTS
KEY DRIVERS, MOTIVATORS & GOALS
As a Marketing Director, I wish my team was more skilled in Marketo, so that they can run automated campaigns.
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INQUIRE LEARN EVALUATE JUSTIFY SELECT
What interests me?
Questions:
Messages:
Offers
What do I want to know?
Questions:
Messages:
Offers
What do I think?
Questions:
Messages:
Offers
Am I ready to buy?
Questions:
Messages:
Offers
Is this right? What else is needed?
Questions:
Messages:
Offers
PERSONA’S MOTIVATION
WHAT’S HE/SHE ASKING
ABOUT?
KEY MESSAGES & VALUE
PROPOSITIONS
OFFERS HE/SHE MIGHT BE
INTERESTED IN
Keep on building those personas!M A R K E T O Q U I C K S T A R T G U I D E
What ways have you come across that could cause you to lose a deal or not retain them as a customer?
RISK OF LOSS
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Having enough content is by far the biggest challenge that we see for companies attempting successful use of Marketo. In today’s marketing environment where the buyer is in charge, content is a must-have for consistent lead generation and nurturing. In fact, Google’s ZMOT research found that on average, prospects consume over 10 pieces of content before the time they discover your content.1
Ideally, these efforts are based on a solid understanding of the buyer journey & buyer personas so that your content and messages connect with your audience. Without this, even the most finely crafted Marketo programs will fail to deliver results.
Create High Caliber ContentM A R K E T O Q U I C K S T A R T G U I D E
You may want to ask yourself a few questions in the process of getting your assets in order.
Here’s a checklist, just so you have all those questions in one place.
If you can’t put a confident check on each of these boxes, focus your team on those improvement areas or risk limiting your long-term marketing automation success.
� Do you have a defined content calendar?
� Can you translate your product/service into an ROI message for the buyer?
� Do you know what the entire buying committee looks like?
� Do you have content for each stage of the buying process by persona?
� Do you know the buyer’s decision making process?
� Have you spoken directly to examples of your product’s best customers?
Content planning checklist
1. Source: https://www.thinkwithgoogle.com/collections/zero-moment-truth.html
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Data: it’s the one thing everyone agrees upon. It’s often dirty, incomplete and can cripple your marketing efforts. Some organizations struggle with too many leads, some with not enough leads. But everyone struggles to keep data clean. For example, how can you send that email to everyone in California if you have cities in the state field and four different values: California, CA, Cali, Calfornia?
Ensure the Quality of Your DataM A R K E T O Q U I C K S T A R T G U I D E
A data quality and hygiene strategy is a pillar that you can’t afford to miss if you want success with Marketo. Everything from lead generation, to nurturing, to customer lifecycle management hinges on this critical element.
A good data strategy starts with the database you currently have.
Define the key elements of your ideal customer profile and ensure you have coverage across those points.
Next, ensure your lead intake points support capture of critical data and that you establish a data waterfall to append, cleanse and maintain database integrity overtime.
1
2
3
Form strategy and progressive profiling are key elements in a best-in-class data management process. Why? Because as you build trust with your buyer, you’re able to capture additional points that allow for hyper-personalization.
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BUSINESS PROCESS DESIGN & IMPLEMENTATION
ANALYTICS
PRO-TIP
TECHNICAL APTITUDE
Does your team have the skills to pay the bills?
M A R K E T O Q U I C K S T A R T G U I D E
Your internal employees as well as partners with expert service providers are the most critical aspects of success with your marketing platform. Some important skills for success are:
Can your team envision demand generation and lead-lifecycle processes that align to the modern buyer? Can they work cross-functionally to implement across the organization?
Do you have someone who can absorb, visualize and discuss large amounts of data and complex concepts? Can they make decisions to solve problems based on available information?
Marketing is increasingly becoming a technical profession that includes proficiency with technology solutions as a key skillset. This represents a huge shift in the job description of a marketer, which previously required little-to-no technical abilities.
Although today’s marketing automation platforms are much easier to use than previous systems, users still need to be comfortable using technology. Basic levels of technical acumen are a must; having a “marketing technologist” on staff is even better.
You’ll need to evaluate the skills of your team. If you don’t have the right skills on-staff, consider augmenting your current staff with training, partners or additional hires.
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If you think big, you’ll position yourself to
achieve the grand, albeit, finely articulated vision
of what you want success to resemble.
Depending on your organization, this end goal may take the form of a full
RCM transformation. It might also be more modest.
If you start small, you won’t get stuck in analysis paralysis, or feel the need to wait until all of your content is created.
You won’t need to map out every single campaign
or get your website perfect.
Slow and steady wins the race.
If you move quickly to win small victories, you’ll show results in a way that your
organization values — whether it’s a new lead
generation campaign or a basic system for lead scoring.
These small wins will cultivate stakeholder buy-in across your
organization, and increase your chances for success over
the short and long term.
Overall, be realistic about what resources you’ll require to achieve your objectives. But don’t let the “perfect be the enemy of good.”
Get started. See value. Then, evolve.
In SummaryM A R K E T O Q U I C K S T A R T G U I D E
All of the factors discussed here are critical for marketing automation success. But don’t let not having all of them keep you from getting started.
The best marketing automation implementations adhere to the adage, “think big, start small, move quickly.”
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