I attended Marketo’s roadshow “Revenue Rockstar” earlier this week and wanted to share some key take-aways and thoughts with you guys.
First of all, marketing automation won’t be any better than the processes you apply it too. Secondly, it’s still about quality content.
The main improvements that Marketo clients notice is:
22% increase in nr of qualified leads
21% more leads convert to opportunities.
15% reduction in customer acquisition cost
7 % shorter sales cycle
“slow leads” converted at 3x the nr with nurturing – 20% vs. 6,67%
(although I’ m thinking similar figures would apply to any marketing automation software)
A pretty straight forward lead funnel, but nevertheless important.
Decide the relevance of your leads with a basic model, like “buying stage” vs “buying profile”
Next up you’ll have to do your due diligence on lead scoring. Here’s an example of Marketo’s interest scoring
When aligning sales and marketing set up an SLA (Service Level Agreement) to make sure sales-ready leads are handled accordingly and cold leads are nurtured properly. Marketo uses an “No Lead Left Behind” model with automated reminders & reports to management.
Marketo leads cycle
1. Reports & Analytics
2. Design studio etc to capture inquiry
3. New leads processing
4. Lead nurturing
5. Scoring & Insights
6. Life-cycle automation
Lead scoring needs to be setup on individual basis but should include:
Behavioral (download, web, email, search etc)
Reports on campaigns (ROI, program cost, new leads etc)
Reports on individual deals
Find the marketing campaigns that drive conversions
Show the closed deals that marketing has worked on
+ ad hoc reports & dashboards
When you look at all of these functions you realize that setup may take a bit of time and effort, but that is what ensures your marketing automation really is automated, and more importantly, delivers value to your leads and customers.