Tag Archives: marketing automation

Power Tools – Pitfall or Potential for Precision

Two of the most valuable purposes of a marketing dashboard are to help the leadership team understand how Marketing is moving the needle in terms of top line revenue, market share, customer value, category ownership, etc., and to provide strategic guidance. However, one of more perplexing findings from the recently completed marketing performance research conducted jointly by Forrester, ITSMA and VisionEdge Marketing is that while marketers have access to more data, leverage more analytics, and invest in more tools and systems than ever before, marketers continue to struggle to prove marketing’s contribution to the business.  While the majority of the marketers in the study indicated they regularly produce and share a dashboard. The same survey, with results from the 400+ marketing and business leaders shows that just 9% of CEOs and 6% of CFOs use marketing data to help make strategic decisions.

So where’s the disconnect? It appears that most marketers participating in the study use their marketing automation (MAP) or sales automation (CRM) systems to create their dashboards.  While helpful, dashboards typically generated by these systems report on marketing activity and associated costs  – email activity, website activity, social media activity, lead activity- rather than reporting on metrics executives can use to set direction.  It’s not that these reports and dashboards are bad; they are valuable when used to support tactical decisions, but if you want your CEO, CFO and other members of the C-Suite to use your dashboard, it must clearly connect marketing investments and initiatives to business outcomes and results.

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ROI of Marketing Automation

A fast, steady and predictable growth, that is what companies these days want. The fastest growing companies of today use repeatable marketing and sales 2.0 techniques to grow revenue predictably and reliably. They are embracing the shift from the selling process to the buying process, moving marketing from a cost center to a revenue generator. By replacing the old linear sales model with a new holistic approach, companies are redefining the way marketing and sales teams work together.

The new buying landscape has changed marketing’s approach to lead generation and management. This tectonic shift has created a need to improve upon outdated systems that can no longer keep up with the demand to increase lead flow, ensure lead quality, and prove program effectiveness and ROI.

Companies that implement a marketing automation system to support their marketing and sales efforts are better equipped to manage lead flow and process leads more efficiently. A whitepaper by Marketo outlines how marketing automation optimizes marketing programs and can help companies:

  • Create a faster and more predictable revenue cycle
  • Increase profitability with tactics that result in higher conversion rates
  • Align the efforts of marketing and sales teams to substantially increase topline revenue growth

Source: Marketo Benchmark on Revenue Performance as of Sept 15, 2012

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Personalize your marketing

For maximum impact and return, marketers must go beyond simple segment marketing or click reporting and create a personal dialogue with each visitor.

Behavioral digital analytics can fuel this personalization process by providing specific insights about each segment and individual. This can drive personalized product and content recommendations, as well as individually tailored retargeting for greater marketing ROI

CIO Technology Priorities for 2013

Recent research by Gartner, Inc. shows that the priorities of Chief Information Officers (CIOs) for 2013 are shifting toward customer-oriented and other externally-focused technology initiatives. The Gartner report, Hunting and Harvesting in a Digital World: The 2013 CIO Agenda, was based on a worldwide survey of over 2,000 CIOs working in 36 industries in 41 countries.

Here are the top 10 CIO technology priorities for 2013 identified in the Gartner research:

  1. Analytics and business intelligence
  2. Mobile technologies
  3. Cloud computing (SaaS, IaaS, PaaS)
  4. Collaboration technologies (workflow)
  5. Legacy modernization
  6. IT management
  7. CRM
  8. Virtualization
  9. Security
  10. ERP applications

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Marketing and IT: How to be awesome partners

Marketing and IT… Partners in crime or are they like water and fire? In this video Billy Boyle, co-founder and president operations of Owlstone, talks about the two and how they can become succesfull partners in Marketing Automation. “The two just need each other to bring marketing to another level”, he states. “One can’t live without the other.”

 

Big Data: Who owns customer and budget?

Though frequently at odds, marketing and IT executives agree that harnessing Big Data is imperative to building a customer-centric corporate culture, according to a study by the CMO Council, in partnership with SAS.

They also agree that a lack of CMO/CIO alignment, rigid silos, unclear responsibilities, and a lack of leadership impede an organization from using Big Data to its full potential, the survey of CMOs and CIOs found.

Big Data is important to achieving a customer-centric culture, according to the study:

  • 40% of marketers and 51% of IT executives said it’s critical for improved decision making.
  • 36% of marketers and 23% of IT execs said data drives the ability to personalize customer experiences.

Below, additional findings from the CMO Council study, titled Big Data’s Biggest Role, Aligning the CMO & CIO.

Access to in-depth data, and the ability to translate it into insights, is a competitive advantage according to 70% of marketers: 30% say it is critical, and 40% say it is part of the overall picture.

However, most respondents view the flood of incoming data as part obstacle and part opportunity: 61% of CMOs and 60% of CIOs say so, admitting they have a long way to go still in using Big Data properly.

The main challenge, according to 52% of marketers (and 45% of IT professionals), is that functional silos block aggregation of data from across the organization, making it difficult to truly achieve customer-centricity:

Moreover, 39% of CMOs say the corporate culture is not aligned around the needs of customers.

A likely explanation for the lack of total customer focus is that no clear ownership of the customer exists. Among marketing executives, 18% say that ownership rests with the CEO, 17% say the CMO, and 19% say sales. IT professionals assign ownership to the CEO (20%), CMO (19%), and sales (17%).

Organizations that report they have achieved total partnership between CMO and CIO also have clearer ownership of the customer.

In such organizations, marketers (24%) and IT professionals (30%) say the CEO owns the customer. Furthermore, marketers and IT executives in “total partnership” organizations are highly satisfied with their company’s ability to engage the customer (42% of marketers, 31% of IT execs).

Read more: http://www.marketingprofs.com/charts/2013/10574/marketing-and-it-big-data-an-obstacle-an-opportunity-and-key-to-customer-centricity#ixzz2RHLYXuwe

 

CMO vs CIO?

Some long time IT observers and CIOs see the chief marketing officer as a threat to the CIO as nonsense.

But is he or she?

We’ve seen this clash before, observes Enterprise CIO Forum community manager John Dodge.

Optimizing for ROI

In today’s market marketing teams are under more and more pressure to perform and get results. ROI is a magic word in marketing now-a-days, while budgets and resources are under pressure as well. In the meantime customers are holding back and getting less and less faithfull to just one brand. So, pressure is on for the marketing department, because you can only do so much to get better results.

There are several trends today which cause this higher pressure, says a paper by DMA and SAS.

  • Consumers are more empowered then ever
  • Data volumes are exploding
  • New contact channels add complexity and dissonance
  • You don’t control all the channels
  • There’s more opportunity for confusion and noise
  • Marketing organizations are drowning in data

How can marketers keep their head up in all this turmoil? How can they identify the best strategy that will deliver the best returns on from marketing investments?

Wilson Raj, Global Customer Intelligence Director at SAS shed his light on how to improve ROI on your marketing investments during a webinar sponsored by the Direct Marketing Association and SAS.  Optimization is the keyword, he says.

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We have come a long way…

Marketing has come a long way. People have been selling things and services since early man. But how we market these things has changed a lot through the years and ages.

Modern marketing hasn’t been around that long, it started  at the early 20th century, according to Marketo. As we entered the modern industrial age, the amount of goods became greater than the number of available customers, and so did the competition because suddenly had a choice. Modern marketing was born.

In time, with the emergence of new technology, marketing had to adapt. First, radio shook up how companies did their marketing. Then television made a huge impact. Then the Internet revolutionized not only how people did business but also how they live.

To illustrate technological advancements that have changed the course of marketing, Marketo put together an infographic based on its The Definitive Guide to Marketing Automation.

 

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Leaner, faster and better marketing

Dr. Robert Shaw is a renowned businesswriter on marketing. He also is a consultant on the field of marketing, particularly Marketing performance measurement and management and Database marketing.

In his work two key elements come forward.

  1. Marketing automation: the idea that the marketing function should embrace IT to improve its efficiency and effectiveness. Shaw has tracked the uses and abuses of IT in marketing for over 20 years and defined best practice in this field.
  2. Marketing performance measurement and management. Shaw identified the need for marketing to become more measurable and accountable and his researches continue to define best practice in this field.

In this ten minute interview, conducted by Mayer Becker, Shaw sheds his light on ‘Leaner, faster and better marketing’.