How To Uncover Hidden Pipeline with Data
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The Launchpoint Webinar on September 22, 2016, focused on utilizing predictive marketing to uncover hidden pipelines, featuring insights from Reade Triolo of Everstring and Thomas Zimmerman of Lionbridge Technologies. Key discussions included the importance of predictive analytics in identifying customer patterns, the state of predictive marketing adoption among marketers, and strategies for audience selection and nurturing. The session emphasized lead development steps, prioritizing automation, testing engagement ratings, and personalizing marketing efforts for improved results.
How To Uncover Hidden Pipeline with Data
- 1. LaunchPoint Webinar Series Using Data To Uncover Hidden Pipeline September 22, 2016
- 2. Engagement Marketing Platform • This webinar is being recorded! The slides and recording will be sent to you after the webinar. • Enter your questions in the chat – there will be a Q&A section at the end of the webinar • Posting to social? Make sure to use #mktgnation or tweet @marketo or @everstring Housekeeping
- 3. Using Data To Uncover Hidden Pipeline Reade Triolo VP, Solutions and Success, EverString Thomas Zimmerman Manager, Global Lead Development LionBridge Technologies
- 4. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY4 Thank you for joining us Reade Triolo VP, Solutions and Success, EverString Thomas Zimmerman Manager, Global Lead Development, LionBridge Technologies What we will cover… 1. What is Predictive Marketing? 2. Who is using predictive marketing and what are they using it for? 3. Use cases for Predictive Marketing from LionBridge Technologies
- 5. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY5 Predictive Analytics is the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. Predictive analytics does not tell you what will happen in the future, rather, it forecasts what might happen in the future with an acceptable level of reliability .
- 6. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY6 Predictive Marketing is the practice of extracting information from existing customer datasets to create a data model — both from your own database and existing company data aggregated through a predictive technology — to determine patterns and predict future outcomes and trends with an acceptable level of reliability.
- 7. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY7 Report: State of Predictive Marketing 98% of marketers are either fully committed to predictive or are implementing predictive marketing 67% of marketers are using both behavioral & firmographic attributes 68% of marketers believe predictive marketing will be a key piece of the marketing stack
- 8. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY8 Lead scoring as key indicator of maturity Scoring has become a standard practice for most organizations
- 9. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY9 Technology stack of predictive marketers And it is used by mature marketing organizations
- 10. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY10 How to: Target audience selection and nurturing Who What How Measure Predictive Marketing starts with Audience Selection The process of using data to identify your target accounts Model your best customer and derive targets from all accounts in the world D D D D D D D D D D D D D C D C D C C C C D C C D C C C C D C C D C D C A A A A A B B B
- 11. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY11 How to: Target audience selection and nurturing Account Research & Information Use scoring model to identify and prioritize accounts in your CRM Who What How Measure Prioritization for inbound leads Predictive Demand Generation for outbound leads Messaging Account Personas Create a persona for the account to drive message Data Preparation Map leads to accounts Improve data quality
- 12. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY12 How to: Target audience selection and nurturing Who What How Measure Add Predictive Scoring to lead lifecycle to help qualify leads
- 13. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY13 How to: Target audience selection and nurturing Who What How Measure Develop and run personalized and targeted campaigns based on score Identify Target Account Email Nurturing Targeted display Real Time Personalization Customized messaging Predictive Demand Generation Prioritize Inbound Audiences Identify Decision Maker Physical Mailer Email Nurturing Invite to Micro Event Personalized follow up
- 14. ©2016 EverString :: CONFIDENTIAL & PROPRIETARY14 How to: Target audience selection and nurturing Who What How Measure • Use behavior scoring in conjunction with Predictive Scoring to optimize lead acceleration • Track program success to measure performance and fine tune messaging.
- 15. Optimizing the Funnel with Predictive Analytics September 22nd, 2016 Thomas Zimmerman Manager, Global Lead Development Lionbridge Technologies
- 16. In the next 20 minutes… 1. Lead Development: The Problem 2. 3 Steps to Solving the Problem 3. The Next Frontier 4. Takeaways
- 17. What is Lead Development?
- 18. Why is Lead Development Important? • Facilitates/Accelerates • Connects • Improves • Focuses
- 19. The Problem Chaos Theory: The study of apparently random or unpredictable behavior in systems governed by deterministic laws.
- 20. Step 1 Prioritize Takeaway 1: Eliminate manual processes wherever possible – LDRs should have to focus only on activities that are adding value
- 21. Step 2 Automate Known Engaged MQL Sales Lead Company Score <80 <80 80+ LDR-vetted Engagement Rating D C A, B LDR-vetted
- 22. What We Did • Revenue Cycle Modeler Success Path Automation D C A,B 80 Takeaway 2: Test and compare – make sure engagement ratings are identifying buying intent more accurately than previous method. Compare conversion rates of each. Also, SLAs!
- 23. Step 3 Personalize Not in the Market Stimulated Problem Definition Options Evaluation Known Engaged MQL Sales Lead D C B, A Opp Inactive Stage Vertical-Specific Persona-Specific Early Stage Vertical-Specific Persona-Specific Mid Stage Vertical-Specific Persona-Specific Late Stage Vertical-Specific Persona-Specific Content Buying Stage Engagement Rating Web Page Email Ads Channel (RTP) Web Page Email Ads Web Page Email Ads Web Page Email Ads
- 24. Step 3 • Personalizing Engagement Programs
- 25. The Next Frontier • Multi-channel personalization - RTP Takeaway 3: Start small – it gets really complex really fast and can actually impair a buying journey
- 26. Best Practices • For Predictive: – SLAs – Defined metrics you are trying to change and will track – Readiness metrics – Test and compare • For Personalization: – Build an ecosystem – Start small – Diminishing marginal returns
- 27. Questions?
- 28. Thank You
Editor's Notes
- #5: Theme: Credentialing and Introductions
- #6: Theme: Categoriy Definition
- #7: Theme: Practical Definition
- #8: Theme: The State of Predictive Marketing
- #9: Theme: Lead Scoring Indicates Maturity
- #10: Theme: The relationship between marketing maturity and marketing technology
- #11: Theme: The Value of Predictive Marketing is Audience Selection
- #12: Theme: Develop and execution plan for Account Personas
- #13: Theme: Incorporate Predictive Scoring into lead lifecycle to qualify leads and accounts
- #14: Theme: Leverage various channels and personalization to generate demand
- #15: Theme: Measure the performance of your marketing programs and fine tune messaging
- #17: What does Lead Development Team do? - make funnel less top heavy, use personal and automated techniques to move leads down the funnel to later stages - primary metrics: MQL>SQL; SQL Opp
- #18: Qualification, acceleration, and distribution of MQLs to sales Lead Development Specialist: Lead qualifier and relationship builder and distributer Provides consultations, looking for BANT Story telling with good content delivered at the right time – build relationships before 60% of the buying journey 3 Elements: Content Marketing Marketing Operations Pre-sales
- #19: Facilitates/accelerates the process of turning marketing investment into revenue Connects marketing with sales – align on objectives and provide feedback and measurement of marketing effectiveness Prevents leads from stagnating – you can’t make everyone buy, but you can ensure that those who are in a buying process have no barriers Improved focus – allows sales to focus on best prospects Demographics, engagement, BANT – can align with sales objectives
- #20: Lead Dev world was very chaotic – tens of thousands of leads coming in, no reliable process to maximize conversions Siloed sales-marketing relationship Unable to hone in on the behaviors that maximized conversion to sales Random, unpredictable approach ineffective, needed a better way to put good leads in LDR hands Marketo scores largely unreliable, began our partnership with Everstring Fit Score, Engagement Score
- #21: Immediate use case: LDRs to prioritize who they reach out to – day to day activities, first higher scores, then lower Saw a notable increase in response rates, clear that predictive could be leveraged in a more fundamental way It was still a manual process, so we moved to automate the whole thing
- #22: We use Marketo for marketing automation, and the RCM is Marketo’s framework for categorizing lead stages – rebuilt around predictive scores Match different scores to stages, both fast-track and normal flows. Thus, LDRs only encounter the highest quality leads, or those with the best probability of converting All others are filtered through to automated campaigns until they hit engagement thresholds
- #24: Finally, we realized that engagement scores were telling us not just the probability of buying based on engagement, but ultimately the buying stage. Traditional lead scoring good for volume, not quality of engagement Using BPMs, we aligned all our content with our different target buyers and push content according to their stage. Real value here is for RTP Essentially leverage engagement rating to drive personalization and get the right content, to the right person, at the right time, on multiple channels. Ultimately centralize lead development process – focus on best, while sustaining brand and relationship building
- #27: 2-3 personalization 2-3 implementation/sales ops