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Drive Marketing Automation Success - Cross-Functional Alignment
- 1. © 2013 Marketo, Inc. Marketo Proprietary and Confidential Drive Marketing Automation Success: Cross-Functional Alignment May 29, 2014
- 2. Shyna Zhang Enterprise Sr. Product Marketing Manager Allison Dryer Digital Services Sr. Solutions Consultant
- 3. “If you could get all the people in an organization rowing in the same direction, you could dominate any industry, in any market, against any competition, at any time.” - Patrick Lencioni The Five Dysfunctions of a Team: A Leadership Fable
- 4. © 2014 Marketo, Inc. Marketo Proprietary and Confidential Marketing Leadership Sales Leadership IT Leadership Business Unit Leadership CMO VP Marketing Digital Marketing Leader Campaign Strategist (Email and Events) Social Media Director KPI’s/Analytics Leader Technical Marketing Leader Cross-Functional Team Key Personnel CRO VP Sales Sales Ops Manager Sales Director Field Sales Manager Inside Sales Manager CRM Administrator CIO Director of IT Sys Admin CRM Admin GM Director Product Marketing
- 5. © 2014 Marketo, Inc. Marketo Proprietary and Confidential Enterprise Focus Areas Pillars for Success Marketing Strategy Assess your organization’s sales and marketing strategy, maturity, and overall readiness Cross-Functional Alignment Exercises and workshops designed to align your resources and team roles Sales & Marketing Funnel Evaluating your technology stack and understanding the impact it has on the overall success Measurement & Reporting Determining the key reporting metrics used by your team, determining how to measure future success, and ultimately building the Business Case
- 6. Enterprise Focus Areas Deliverables Marketing Strategy Marketing Maturity Matrix Marketing Strategy Strategic Campaign Roadmap Cross-Functional Alignment Resources & Team Roles Sales & Marketing Funnel Model Joint Execution Plan Sales & Marketing Funnel Lead Lifecycle Lead and Opportunity Stages SLA’s & Alerts Measurement & Reporting Key Performance Indicators - Tactical v. Revenue Business Case Audience & Cadence
- 7. Main Painpoints: • “How do I get better quality leads from Marketing?” • “When are the new marketing campaigns happening so I can get more leads?” • “Why is marketing reaching out to MY leads?” Sales Need more leads
- 8. Main Painpoints: • “How much revenue can I forecast this quarter through my direct vs indirect business? • How can I grow the business faster than my competitor? • How do I drive loyalty among my existing customers? • How do I drive awareness amongst net new customers?” Business Unit Run the Business
- 9. Main Painpoints: • “How do I get the right data from Sales to create an accurate funnel?” • “How do I get the right support from IT to ensure that my marketing operations team gets the support that they need?” • “How do I get everyone aligned on the same terminology: MQL, SQL, SAL, Conversion Rate, etc..?” Marketing Focus on the Funnel
- 10. Main Painpoints: • “How does marketing automation technology fit into the existing technology architecture?” • “What’s the integration strategy?” • “Is data secure at every stage?” • “What’s the uptime and deliverability?” • “What are the stages of a successful implementation?” IT Let’s make this Secure
- 11. Page 11 © 2011 Marketo, Inc. Marketo Proprietary and Confidential Solving for a Leaky Sales Funnel Traditional Marketing Focus Warm Leads Lead Out Sales Traditional Sales Focus
- 12. Your Customer Base is your Strategic Asset Traditional Marketing Marketing Automation Integrated Marketing Revenue Performance Management Basic Marketing Automation • CRM Integration • Scoring • Automated Nurturing Utilize the entire Sales Funnel & its Stages • Targeted Marketing • Detour Stages • Dynamic Lead Routing • Triggers & Alerts Create a multi-touch attribution model and use it to tweak performance • Attribution Model • Operational Reporting • Sales Empowerment via CRM campaign execution
- 13. PROVIDER ActiveHealth Management iTriage Medicity Neonatal Management Program Practice iQ EMPLOYER ActiveHealth Management iTriage Neonatal Management Program WellMatch Wellness 2.0 Workforce Availability PAYER ActiveHealth Management WellMatch
- 14. Align Funnel Taxonomy and Definitions Funnel Stage Name SFDC Status Owner Definition Fit Criteria Demand Gen Suspect N/A Mktg A marketing target about whom very little is known N/A Nurturing Prospect Open Mktg A respondent to a marketing campaign with a known name and valid email address • First Name • Last Name • Email Address • Phone Number Nurturing > Qualification Lead (MQL) Sales Ready Mktg. A prospect who meets the minimum fit criteria and has displayed enough interest to be handed over to sales. • Title • Org. location • Org. Type / Footprint • Timing • Org. Tech Utilization Qualification Sales Accepted Lead (SAL) Working Inside Sales or Sales Dev. A MQL that has been accepted by sales (or inside sales team) for further qualification to determine pipeline readiness. • Active in Payment Reform (RAM, SSM, PFP, etc.) • Implementation plan • Funding for Initiative Qualification Sales Qualified Lead (SQL) Qualified Sales A SAL that has progressed to an opportunity and is now committed to pipeline • Strategic fit • Aetna Relationship Revenue Closed Won Closed Won Sales An opportunity that has resulted in revenue. Opportunity Closed, stage (TBD)
- 16. Cross-Functional Alignment Alignment within your Funnel The deliverable and outcome is a process and completed worksheet that aligns your team and creates synergy and alignment on key business goals/drivers across the marketing and sales teams.
- 17. Potential Campaign Example – Integrated Campaign – Direct Mailer + Digital Interactions Anonymous Identified Pre-Qualified Sales Working Sales Relationship Opportunity Closed/Won Campaign Stage Program Selected & Launched BusinessProgram Selected & LaunchedSalesProgram Selected & LaunchedMarketing Success Path Stages Campaign Flow Find through SEO WOM, Conference on Topic or Trend Engage us Via Website Fill out Form, Sign up for Newsletter Recycled List Segmentation, etc. Direct Mailer Campaign Sent Out with Assets Follow-Up Email Vetting Lead Disqualified Closed Lost Closed Won Conversation, Discuss Details, Verify Opportunity Craft Proposal/SOW/Pitch for Specific Need Expresses Interest via select channels and or we Follow-Up
- 18. Joint Execution Plan A roadmap for moving forward Outline the steps to take to ensure an efficient close and hand off of Marketo.
- 19. 1. Embark on the listening tour – what’s working, what’s not working? 2. Clearly establish what success looks like (ie. Consistent taxonomy, SLAs, content execution, KPIs) 3. Identify the right stakeholders & assemble the Tiger Team across multiple teams 4. Celebrate small successes & report out on progress! Best Practices
- 20. in·no·vate A flexible, collaborative, and consultative assessment involving Marketo’s Digital Strategy Consultants and your cross functional teams. Assessments evaluate your sales & marketing strategy, cross functional alignment, sales & marketing funnel, and measurement & reportsto deliver strategic recommendations and plans for improvement. INNOVATE
- 21. © 2014 Marketo, Inc. Marketo Proprietary and Confidential Takeaways & Q&A • Cross-Functional Alignment is critical to the success of transformational marketing • Engage with Marketo to map your resources, create clear hand-offs between teams, and implement a joint execution plan Thank you! adyer@marketo.com szhang@marketo.com
Notas del editor
- Shyna Intro
- ADD IT
- Shyna: Can you tell me a bit about GE’s main pain point? What’s this about a leaky funnel? Catherine: Part of HQ work with marketing teams across biz, marcom strategies, marcom communications, website, and search programs Shyna: You mentioned a lot about tremendous roadblocks to scale marketing efforts- can you expand a bit on what exactly those are? {Add Examples }
- Why do I care? Marketing has changed more in the last 2 years than the last 200 – much of this is due to the fact that buying has changed. Not that long ago, there were few 3rd party sources of information – information scarcity – which meant that a buyer had to get most of their information from sales. It also meant we lived in a world of attention abundance, with fewer channels competing for a buyer’s attention. But now, there is an explosion of readily available information— so much that 90% of the data in the world today has been created in the last two years alone. All this data = buyers today are more empowered. The Web provides them with instant information gratification. They can access detailed specs, pricing, and reviews about goods and services 24/7 with a few flicks of their thumbs. Meanwhile, social media encourages them to share and compare, while mobile devices add a wherever/whenever dimension to every aspect of the experience. Given these changes in buying and marketing, one pattern emerges: your customer base is a strategic asset. It is as strategic, if not more so, than your IP, your physical plant, etc. Included in this view, is not only your existing customer base, but also the potential customers and relationships that you can develop to grow and nurture this base. You make investments (money, people, resources) to nurture and grow this base and engage them over the course of their buying cycle. You have the power and responsibility to be the architect of customer engagement across the entire customer life cycle. The sooner that you realize this is a strategic asset, the sooner you can gain an unfair advantage over your competitors to maximize the yield of that strategic asset. Marketo’s platform is focused on elevating your customer engagement: how do you grow the size of the customer portfolio, and maximize the return on the customer asset portfolio. The powerful customer engagement platform allows you to have the ability to document and report on the performance of the asset over time, and how those investments pay back.
- What is Aetna, who are their customers and what is your role?
- What was the secret sauce that really made it work together? Ok so the secret sauce to making L2RM work is that we have really well thought out and articulated definitions of what each of the milestone phases of the buyer are as they progress toward a sale. Here are the milestones with definition and title. I need your help to articulate the “Fit Criteria”. Here is some additional color to help flush out the appropriate level of fit criteria. <toggle to slide 16, and then return to 15> Consider, in an ideal world… What does a MQL, SAL, SQL look like? behave like? How can we translate that into PROGRAMMATIC characteristics, since we aren’t going to have a “live conversation” with anyone, we need to be able to hunt for these characteristics in an automated way. Some possible alternatives: Geographical areas – concentric sales Named accounts – target orgs <If you represent multiple product sales, you may want to have this definition for each type, or at least have the conversation to see how much overlap exists. > Now that we have an idea of what is possible, let’s discuss your thoughts. It’s not going to be perfect right away, but it’ll be a starting point and we can refine our fit criteria over time to yield better results. <hold discussion> Now let’s talk about when something goes awry. Marketing needs to know why and what sends the deal south so let’s… Determine circumstances for initiating recycling of leads – what happens when things don’t go according to plan? – Talk about the common issues that cause a deal to stall out. Why would you reject a lead from becoming an opportunity – discuss reasons Do you have a good sense today for why someone buys from you as opposed to your competition? (discuss reasons for winning vs losing deals.) Ok that’s great information. Now lets discuss how marketing can act upon this intel to help bring in additional revenue <slide 17>
- Allison Example