Marketo: Marketing Nation Roadshow
Last week Marketo invited hundreds of Toronto’s Marketing Automation community out to an afternoon of discussing the new trends and directions in today’s marketing. Not only did Marketo host the event discussing their own latest tool developments, they also invited many of their partners, giving marketers an opportunity to meet a variety of digital marketing vendors. Aside from the opportunity to learn new things about your favourite vendor (ex: did you know that 30% of Marketo’s business in B2C?) it was a great networking opportunity with a wide swath of Toronto’s marketing automation braintrust.
Unlike Hubspot, Marketo’s view is that the buyers journey is an important one, yet as marketers we can at best, only influence the journey. Rather than spending significant time and effort journey mapping all the content for the different stages, Marketo’s sense is that spending time cultivating the nurture stream, is more important. It means understanding the buyers journey, but then providing nuanced content to the prospect when they want or need it. That is the key to driving marketing into a demand generation and sales vehicle. The buyers journey can be influenced, not defined. Trying to define it too strictly means creating an automation process that feels artificial and unappealing to prospects. Naturally, Marketo suggests using marketing automation to experiment and test what content resonates at different stages. As they lead the charge toward 1:1 marketing, a key question arose about whether there is a particular buyer’s journey, or if each journey is be a unique meandering route. Marketo’s sense is that each journey is unique. As such, it is important to influence those steps as best possible, which is where a tool like Marketo excels.
Persona vs 1:1 Marketing
As marketing automations evolves toward 1:1 marketing, do we really need a Persona based marketing approach at all. After all, persona research provides a personified generalization of customers that fit a particular profile. However, 1:1 marketing contends with each customer as a unique profile along the buyers journey. Today, our state of marketing automation is not yet at the fully 1:1 customization stage. For now, we must use persona based marketing to draw in the market, then use 1:1 marketing methods and tools to zero in on influencing and helping the customer along the buyers journey.
Mike Brown, a key Marketo presenter, took the audience through compelling figures. For example, research showed that providing personalized content to clients can drive five times the conversion rate compared to non-personalized content. Brown, discussed BloomReach which showed an ROI of $11.29 for each $1 invested in their marketing automation efforts. This alone is simply astounding. It presents a clear vision of the future of marketing being driven by their core platform.
To prove the point there was even a panel discussion hosting several customers to discuss some of their best practices. Hearing from a direct customer is always compelling. From their own clients, the message was loud and clear that if you want to drive marketing ROI from an already well run marketing organisation – leveraging a platform like Marketo for Medium and Large organisations, will help you get there. Given the breadth of partners whose tools integrate seamlessly with their platform, I personally cannot wait for an opportunity to use a tool like Marketo.
LinkedIn is a key partner. With a growth rate of an additional 2 million members joining the network every 10 days – their database of customer information is massive and growing. This is a particularly interesting when you factor that 95% of web visitors leave without providing an email address (Source: LinkedIn Marketing Solutions). It is no surprise then that LinkedIn is rolling out a new service called Lead Accelerator. The idea here being to be able to identify anonymous prospects and use a marketing automation tool to cater email, display and social ads to that unique individual. Aside from helping marketers identify that sea of unknown prospects who ‘might be’ interested, it helps marketers adapt to and create nurture streams for these leads. When the value of a purchase is 47% higher from a nurtured lead (source: LinkedIn), this is a key new development that will be revolutionizing the way we develop our demand generation marketing.
We have all seen the stat on Video marketing by now. Forrester’s point that video is 53 times more likely than text to drive getting onto Google’s first search page results – hits home. We all want this, but need more analytics to better understand success with our video efforts. That is where Vidyard comes in. Vidyard is in the video analytics business, giving clients an understanding of where people are dropping off their views, implementing a video lead scoring method, and allowing you to add in lead capture forms at key points. If you are considering adding or enhancing your video marketing efforts – take a look at the analytics that Vidyard can bring to your efforts.
Content marketing is king. To nurture the prospect into a solid lead, we use various forms of high quality content to attract, draw in, interest and ultimately compel the lead along the buyers journey. Yet, like video, once a prospect has downloaded a white paper, ebook or article – you cannot be sure whether the content was read, or where they dropped off. Überflip steps in here to help marketers. When a prospect wants additional content, even capturing their name, email and phone number is done with more finesse and style – by merely shadowing the content… and immediately making it available to the user after entering their vitals. No more waiting to download the paper or for the email to go out to the client. They get to read the content while the information is important to them.
For a marketer, Überflip also provides a wonderful content access environment. I could page through the various content marketing pieces, quickly and VISUALLY. Given that 65% of people are visual learners (arguably higher among marketers) – it only makes sense that our marketing content management system allows us to see and use our content – visually. Smart move Überflip!
My observations of a few Marketo partner’s above, merely scratched the surface of all the partners present, with their fascinating new technologies and developments. There were others like Influitive, Leadspace, PFL and more (more to come in future blog posts… stay tuned). After attending an event like Marketing Nation, it is clear that Marketing is an analytical science. Marketing’s new age is one of engineering processes to guide and influence the meandering route to a purchase. If you are stepping into the marketing automation domain, a platform like Marketo and so many of their partners will help you influence that customer journey, and boost your Marketing ROI.