Professional Churn & B2B Email Marketing - LinkedIn & Salesforce at Dreamforce 2014
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The document discusses strategies for managing B2B marketing databases, emphasizing the importance of understanding email address churn and growth rates across various industries and roles. It highlights the average cost of email acquisition and compares it to social media handles, suggesting that while email remains crucial, social channels offer lower churn and targeted engagement opportunities. The presentation also introduces tactics for leveraging data on job changes to identify new sales opportunities.
Professional Churn & B2B Email Marketing - LinkedIn & Salesforce at Dreamforce 2014
- 1. Four Ways to Dominate Your B2B Marketing Database: Marketing's Greatest Asset Mathew Sweezey - Salesforce Marketing Evangelist @msweezey Forest Baker - Linkedin Former Head of Insights for Linkedin @forest415
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- 3. 50,000 The average size of a B2B marketing lead database. @msweezey & @forest415
- 4. $150.00 Average cost of acquiring a new email address. @msweezey & @forest415
- 5. $7.5 million But what do you know about it? @msweezey & @forest415
- 6. Our goal Use data to help us better understand and manage this asset. So we did some research. @msweezey & @forest415
- 7. @msweezey & @forest415 Forest Baker: Sales & Data Junky Linkedin.com -Account Executive (Higher Education) -Former Head of Insights at LinkedIn -Former behavioral economist -Bikepacking Triple Crown Winner
- 8. @msweezey & @forest415 Mathew Sweezey: Author & Evangelist Salesforce.com -Marketing Automation for Dummies -Byline for ClickZ.com -B2B marketing Evangelist -Co-Founder Eventide Brewing
- 9. Four Ways To Dominate -Understand the churn of your database (New Data) -What does it mean for your forms -How to evaluate your email database -How to tactically use the data with sales @msweezey & @forest415
- 10. New Research @msweezey & @forest415
- 11. Question: What is the life cycle of a B2B email address? @msweezey & @forest415
- 12. Begins A new email address is issued for each new employee at a company. Email addresses follow a naming convention. @msweezey & @forest415
- 13. Ends The email address for a B2B lead dies when the employee leaves the company, or takes a role outside of your buying process at the company. @msweezey & @forest415
- 14. 22% Annual churn rate for US workers age 16+ US Department of Labor 2012 @msweezey & @forest415
- 15. LinkedIn profiles reveal churn rates 100M+ US Members @msweezey & @forest415
- 16. Churn from target persona 1. Leave key company 2. Leave key role @msweezey & @forest415
- 17. @msweezey & @forest415 2010 Churn Left company 2012 Churn Changed roles
- 18. Predict Churn • 6 Industries • 6 Functions • 3 Seniorities @msweezey & @forest415
- 19. Industries High-tech, Retail, Medical, Finance, Shipping, Manufacturing Functions Marketing, Sales, HR, Finance, Purchasing, IT Seniorities Individual Contributor, Manager, Director+ @msweezey & @forest415
- 20. Results @msweezey & @forest415
- 21. 17% Average 1-year churn rate based on profiles @msweezey & @forest415
- 22. 27% Highest churn rate • Industry: Retail • Function:Sales • Seniority:Individual Contributor @msweezey & @forest415
- 23. 11% Lowest churn rate • Industry: Finance • Function: Finance • Seniority: Director, VP, CXO, Owner/Partner @msweezey & @forest415
- 24. Seniority: Individual Contributors have the highest churn rate @msweezey & @forest415
- 25. Function: Marketing and Sales have the highest churn rates @msweezey & @forest415
- 26. Industry: High-tech has the highest churn rate @msweezey & @forest415
- 27. May your persona be: Professionals working in IT, Finance, or Purchasing who are managers or higher seniority @msweezey & @forest415
- 28. What about growth rates? How much does the size of each persona target grow each year? @msweezey & @forest415
- 29. Growth = Total who joined persona during year Total in persona at beginning of year @msweezey & @forest415
- 30. 15% Average 1-year growth rate based on profiles @msweezey & @forest415
- 31. 25% Highest growth rate • Industry: Retail • Function: Marketing • Seniority: Individual Contributor @msweezey & @forest415
- 32. @msweezey & @forest415 9% Lowest growth rate • Industry: Finance • Function: Finance • Seniority: Director, VP, CXO, Owner/Partner
- 33. Get the data www.slideshare.net/forestbaker/expected-1- year-churn-rate @msweezey & @forest415
- 34. What else does this mean? So if email churns is it still worth it to obtain? What else would we ask for to communicate? What are benefits of asking for social handles? How can we use this data to determine the health of our email database? @msweezey & @forest415
- 35. Is it worth it? The average cost of an email address is $150.00. The average cost of a paid social engagement is $0.50 So why spend the money on acquiring an email address? @msweezey & @forest415
- 36. Social LTV: Social handles have a much lower churn, more targeted approach, and be more valuable than spending time on email acquisition. Follower churn is 10% per year. @msweezey & @forest415
- 37. Bonuses Social fans allow for Look Alike campaigns. @msweezey & @forest415
- 38. Email is still king Despite the increase in paid social advertising, email is still the number one driver for many campaigns. However not all engagements require an email address. Know what you plan to do with it before you get it. @msweezey & @forest415
- 39. Target social @msweezey & @forest415
- 40. Use social to get email @msweezey & @forest415
- 43. Health of your database This data gives you way to now judge your largest asset @msweezey & @forest415
- 44. Penetration Total Database Potential DB @msweezey & @forest415 Linkedin provides this data thought their Sales Navigator Product
- 45. Growth Score Total Net New Email Addresses (Possible DB x % Growth) – (Possible DB x % decay) @msweezey & @forest415
- 46. New Ideas Targeting the time of churn. This means for each person who churns, there is a new opportunity with the existing company and the company they go to. @msweezey & @forest415
- 47. Data for sales Job change alerts are the best way for sales to keep up with change. They can reach out via inMail in Linkedin. @msweezey & @forest415
- 51. Tactic: Making a new job drip program for sales to execute is a great idea! Think cross channel and not just email. @msweezey & @forest415
- 52. Thank you! Now lets get to questions @msweezey & @forest415
- 53. Questions Go easy on us………………………………….. @msweezey & @forest415
Editor's Notes
- #3: Key Takeaway: We are a publicly traded company. Please make your buying decisions only on the products commercially available from Salesforce.com. Talk Track: Before I begin, just a quick note that when considering future developments, whether by us or with any other solution provider, you should always base your purchasing decisions on what is currently available.