Everything You Ever Wanted to Know About Marketing Automation
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The document explains marketing automation as a powerful tool that analyzes, segments, and interacts with customers to enhance marketing efforts and drive higher conversion rates. It outlines various strategies, such as nurture campaigns and lead scoring, emphasizing the importance of using data-driven personalization and maintaining organized marketing content. Successful companies leveraging marketing automation have seen significant increases in sales-ready leads and overall subscription rates.
Everything You Ever Wanted to Know About Marketing Automation
- 2. 2 WHAT’S MARKETING AUTOMATION? ▸ Think of Marketing Automation as a robotic shopkeep. ▸ Analyze and segment humans. ▸ Interact with humans. ▸ Track human activity. ▸ GAIN TRUST OF HUMANS ▸ ACQUIRE AND RETAIN HUMANS
- 3. USING MARKETING AUTOMATION INCREASES CONVERSION RATES 53% MORE THAN NON-USERS. Aberdeen Research 2012 3
- 4. COMPANIES THAT EXCEL AT NURTURING GENERATE 50% MORE SALES-READY LEADS AT A 33% LOWER COST. Forrester Research 2013 4
- 5. 5 I, FOR ONE, WELCOME OUR NEW ROBOT OVERLORDS 1. MA happily does otherwise tedious tasks like: 1. Follow-up and reminder emails 2. Audience segmentation 3. Reporting 2. Well programmed MA can also: 1. Score leads 2. Personalize buyer journeys 3. Predict sales
- 6. PROGRAMMING YOUR OWN MARKETING ROBOT.
- 7. 6 BASIC PROGRAMMING ▸ WHO ▸ Everyone we met at the tradeshow. ▸ People that downloaded a white paper on X date. ▸ Our 1,000,000th visitor. ▸ WHAT ▸ Send an email. ▸ Update status. ▸ Append information. ▸ Send an alert.
- 8. 7 SEGMENTATION ▸ Modern data-mining tools, coupled with good marketing automation and CRM data hygiene, can give you an ability to launch highly targeted campaigns. ▸ Right audience for sales, most receptive to communication, able to tailor relevant content.
- 9. 59% OF COMPANIES WITH MARKETING AUTOMATION ARE ABLE TO USE INTELLIGENT TARGETING TO TRIGGER CONTENT, COMPARED TO 17% WITHOUT. Lenskold and Pedowitz Groups 2013 8
- 10. 9 NURTURE CAMPAIGNS ▸ The most prevalent types of MA campaigns are Nurture Campaigns (aka ‘Drip Campaigns’). ▸ The goal of a nurture campaign is to stay top-of-mind with a prospect. ▸ These can be linear, or a multi-path “Choose Your Own Adventure” campaign. ▸ Most commonly seen as an annoying string of emails that you didn’t ask to get.
- 11. SOAPBOX MOMENT
- 12. 12 THINK OUTSIDE OF THE INBOX ▸ Nurture campaigns are NOT just email anymore. ▸ The buying environment has changed: ▸ Media is limitless ▸ Accessing information is completely different ▸ The buyers themselves have changed: ▸ They are always on ▸ They want instant gratification ▸ They are hyper-reactive to cheap/annoying sales pitches
- 13. 13 THINK OUTSIDE OF THE INBOX ▸ Drip email campaigns may work, but they are often not awesome. ▸ Use social media, video, infographics, paid advertising, and good old fashioned human interaction to create an awesome experience for buyers. ▸ Good marketers don’t try to send great emails, they try to create great journeys.
- 14. PEOPLE HATE TO BE SOLD TO, BUT PEOPLE LOVE TO BUY. Some Dude 14
- 15. 15 THREE TYPES OF DRIP CAMPAIGNS ▸ CANNED ▸ A set track that is seldom altered and has a definite goal in mind. ▸ e.g. Demo Request follow-up drip campaign. ▸ FRESH ▸ A generalized, en masse that changes based on circumstances. ▸ Especially useful in content marketing or products with quick cycles.
- 16. 16 THREE TYPES OF DRIP CAMPAIGNS ▸ Individualized ▸ Welcome to the grey side of marketing automation ▸ Using an email address and a few tools, you can easily find out things like, company, city, phone number, title, even what technologies they’re using. ▸ All that information, plus the fact that you’re tracking every move they make, means you’ve got a lot of powerful segmenting and scoring power - use it wisely. ▸ “Right time communications” are hugely valuable. ▸ Triggering communications based on user behaviors is amazingly powerful, but it can get a little creepy. ▸ Triggering an email to send when a user visits a pricing page might be a little uncomfortable.
- 17. RELEVANT EMAILS DELIVERED THROUGH MARKETING AUTOMATION DRIVE 18X MORE REVENUE THAN EMAIL BLASTS. Jupiter Research 2015 17
- 18. 18 A QUICK THING ON LEAD SCORING ▸ Way to go, you generated 1,000 leads for sales! ▸ (Sales is super pissed about that.) ▸ Lead Scoring maps demographic, firmographic, and observed behaviors to a scoring framework. ▸ Lead has right title? +10 Points ▸ Lead attended our webinar? +5 Points ▸ Lead left our webinar 10 minutes after it started? -3 Points ▸ Lead works for a Fortune 500 company? +7 Points ▸ Lead works in the Brazilian branch of Fortune 500? -5 Points ▸ A lead scoring framework is an organism that needs to be constantly refined in concert with the sales team. ▸ Typically, marketing will only turn over leads that have hit a minimum lead scoring threshold.
- 19. 19 ADVANCED APPLICATIONS ▸ Real Time Personalization ▸ Conversion Rate Optimization ▸ Sales Intelligence ▸ Multi-Attribution Intelligence ▸ Retargeting ▸ Predictive Analytics ▸ Lead Lifecycle
- 20. 20 CARE AND MAINTENANCE ▸ Two crucial elements of a consistently functioning MA tool: 1. Organization ‣ Think of this as how you communicate with your robot. ‣ Non-competing campaigns. ‣ Well curated segments. ‣ Clearly grouped and labeled assets. 2. Great Content ‣ What (and how) you say to your humans. ‣ Depending on cycle length, you might need a little or a lot of fresh content. ‣ Every interaction needs to earn its right to be there.
- 21. 45% OF COMPANIES WITH MARKETING AUTOMATION REPURPOSE CONTENT FOR EFFICIENCY, COMPARED WITH 28% OF COMPANIES WITHOUT MARKETING AUTOMATION. The Lenskold and Pedowitz Groups 2013 21
- 22. 91% OF THE MOST SUCCESSFUL USERS AGREE THAT MARKETING AUTOMATION IS “VERY IMPORTANT” TO THE OVERALL SUCCESS OF THEIR MARKETING ACROSS CHANNELS. Marketo and Ascend2 2015 22
- 23. INCREASE FREE TRIAL SELF- SUBSCRIPTION THROUGH MA. CASE STUDY
- 24. 24 FACTS ▸ The company makes web-based software used to post jobs, organize applicants, and collaboratively screen candidates. ▸ The company offers a 7-day trial of their lowest-tier offering. ▸ Because the price point is so low, self-conversion (i.e. signing up for a monthly subscription online, as opposed to going through the sales organization) is the only viable way to achieve upside at this tier. ▸ The company’s data science team ran a conversion regression study and determined that three distinct behaviors exhibited during the 7-day trial window increase propensity to buy by almost 50%. 1. Posting more than one job 2. Adding more than one user 3. Buying at least one premium job posting (i.e. “Featured Jobs” on LinkedIn) ‣ All of these behaviors are observable in the marketing automation tool.
- 25. 25 THE CHALLENGE ▸ Using marketing automation to observe and react to behaviors, design a drip campaign that increases propensity to buy.
- 26. 26 WHAT ACTUALLY HAPPENED ▸ Developed a cadence of emails and display ads based on last- known activity. ▸ Users receive welcome email encouraging them to take two most imperative actions: post a job and add more users. ▸ Supplemented with general, non-sales content to help users achieve results.
- 27. 27 WHAT ACTUALLY HAPPENED ▸ Triggered follow-up emails as soon as a desirable behavior was observed. ▸ These emails encouraged visitors to take the next most impactful step. ▸ In-app notifications were also used as reminders. Links in those notifications were tracked through MA to measure CTR.
- 28. 28 WHAT ACTUALLY HAPPENED ▸ Inactivity emails were also triggered if a trial was abandoned. ▸ If a user came back, they were put back on to the initial trial track. ▸ If they didn’t, they were put into a sale-save track.
- 29. 29 WHAT ACTUALLY HAPPENED ▸ CTA emails were schedule the day of and the day after the trial comes to an end.
- 30. 30 WHAT ACTUALLY HAPPENED ▸ Prior to an integrated email campaign, the self-subscription rate was 12% per monthly cohort. ▸ After implementing the campaign, the subscription rate popped to 24%.
- 31. 31 THANKS GUYS ▸ Hit me up! ▸ [email protected] ▸ @justinkeller ▸ in/justindkeller