50? Yeah, you heard us right. We’re summarizing the key marketing automation trends, tips and statistics that were shared at the 2014 SiriusDecisions Summit in 50 smooth, snackable bites.
Rapid fire, here we go!
Marketing Automation Is A Must-have Capability of Modern Marketing
Here’s what we know:
- Trend: savvy marketers no longer see marketing automation as an extra. It’s mission critical to both marketing and sales for a variety of reasons. Work to improve your marketing and sales efficiency through marketing automation.
- Fact: Marketing automation platforms deliver a variety of related benefits such as supporting perpetual demand creation, reliably scoring and passing leads to sales, tracking engagement with campaigns and content, improving omni-channel marketing (it’s more than just email) and providing critical funnel metrics.
- Fact: However, companies are having a hard time getting the full value from their investment in marketing automation and proving ROI. (Need help? Intelligent Demand can help.)
- Fact: The current MAP penetration in B2B today is 15.5% across all industries. It’s highest in IT (65% penetration), high in Business Services and moderate in Manufacturing (38%). Penetration is still low in Financial Services (4%) and very low in healthcare (2%). – Jay Famico #SDsummit
- Fact: However, MAP adoption among SiriusDecisions clients is 77%.
- Trend: Large technology companies are acquiring social and other related technologies and bundling them into “marketing cloud” offerings. Example: Oracle, Adobe, Salesforce, IBM
- Fact: There are over 20 platforms out there today that could be described as “marketing automation.” Lots of new vendors, lots of new options. Not all of them are leaders in the space, however. You have to choose carefully. As an agency, ID is platform-agnostic, but we work with most leading platforms, including Eloqua, Pardot and Marketo, that we love.
- Trend: We’re starting to see specialized marketing automation plays and applications for specific industries and use cases.
- Trend: Marketing automation is being applied for more than just new lead acquisition. Marketing automation is beginning to be used as a critical tool for supporting all stages of the customer lifecycle.
- Trend: Vendors are expanding their partner networks because their clients need access to certified expertise, real world experience, best practices and staff augmentation.
- Trend: MAP’s are rapidly innovating and expanding their feature sets.
- Trend: Leading MAPs are fostering technology ecosystems with prepackaged integrations.
- Tip: When choosing a new MAP, you should prioritize your use cases. Think through the most common and important use cases for your industry.
- Trend: Dynamic website experiences and dynamic content: on web pages, landing pages and emails. Remember: relevance = revenue!
- Tip: Make sure you audit and map your content to your target buyer personas true buying journey and then fill those gaps. (Need help with this? ID’s creative team is experts in this and can help you!)
- Trend: Testing and optimization is being improved, being automated, and becoming smarter/easier.
- Tip: Stop making excuses — do it! Book time and build time for testing and optimization into your project plans.
- Trend: Pre-packaged plays and menu-based plans. More MAPs are enabling demand centers with a menu-based approach to plays and use cases.
- Trend: Workflow and resource management (MAPs are beginning to put in workflow and approval processes within their platforms to make operationalizing/doing MA easier).
- Tip: Audit your process performance! Do you have a process for doing DG/MA? How are you doing? Are cycle times and quality where it should be?
- Tip: Create campaign templates for your more frequent requests, use cases and plays. It will reduce cycle time and improve consistency.
- Fact: Enterprise companies’ (>$1B) use is complex, incorporating data standardization, functions, processes and products.
- Fact: Small businesses (less than $50M) need training, skill development and more resources.
- Fact: Mid-sized businesses ($250M-$1B) are employing a hybrid approach.
- Tip: Look for opportunities to give marketers small but valuable ways to take MAP action.
- Tip: “Automation technologies executed without a sound business process are likely to fail. Automation can only work when the business process is clearly defined and you can scale the level of performance.”– Jennifer Horton, SiriusDecisions #SDsummit
- Tip: Invest in MAP power users and give them the support to create more power users.
- Question: How many marketing automation power users does your organization have? How many should it have?
- Fact: A power user spends more than 20 hours per week in the MAP.
- Fact: There is generally 1 power user for every 5 casuals in an organization. Change that to 1 power user for every 2 casuals and see revenue transformation!
- Fact: Most MAP knowledge is highly centralized. This can lead to bottlenecks in the demand center. Training across the organization solves this, but it can take time.
- Fact: On average, MAP adopters / companies have 5.3 pre-MQL nurture tracks/programs in place.
- Fact: Small net fishing programs make up only 3% of automated nurturing programs.
- Fact: One out of 3 nurture programs are targeting CUSTOMERS!
- Trend: We’re beginning to see adaptive and/or behavioral nurturing programs rather than only one-size-fits-all campaigns.
- Trend: We’re moving towards targeted nurture and away from general nurture. Email drip campaigns are now designed by topic of interest, industry, buying stage, and buyer profile/persona.
- Trend: Nurturing is finally moving beyond purely email. Yay!
- Fact: 23% of MA users leverage telenurture!
- Fact: 16% of MA users are using ad retargeting
- Fact: 10% of MA users are using integrated website chat
- Fact: 10% of MA users are doing web optimization (personalizing web experiences to individual leads).
- Fact: 64% of marketers are still using static forms on their website. What this means for you: use progressive profiling instead! It increases response rates by 300%!! #SDsummit
- Fact: Be sure to reference all of the other amazing marketing automation stats across the web.
- Trend: More companies are deploying sales recycle programs (for leads rejected by sales).
- Trend: And we’re seeing passive recycling programs (for leads that are sitting too long in a stage and need reengagement / nudging).
- Tip: More complex lead routing requires that you have clean, good data.
- In general, don’t think of MAPs as an island. MAP means integrating and sharing data with all of your various systems and channels and tactics.
- Fact: Only 68% of companies are doing lead scoring! Of those, only 40% of sales people agree that lead scoring is effective at helping them prioritize leads and focus their time.
- Tip: Involve sales early and often when you are establishing and evolving the lead scoring model. Pilot it! Fine tune from the pilot. Lift conversion. Celebrate/share the success. Have sales (pilot folks) sell other sales team members with the success!
- Fact: Less than half of enterprises that use MAPs are satisfied with the reporting they’re getting out of MAPs. Solution: Who is measuring waterfall performance on a daily/weekly basis? About half (49%). 33% are measuring contribution to pipeline and revenue /closed won. 7% don’t measure waterfall KPI’s or metrics at all.
What do you think of our top 50 Tips, Trends and Facts from Sirius Decisions Summit? Do you agree? Disagree? Are these things jiving with what you’re seeing in our industry?
We’d love to hear what you’ve learned and come up with the next 20 tips, trends and stats next month. We will credit you!
To learn more about marketing automation research, tips and trends, check out the complete SiriusDecisions 2014 Marketing Automation Report.
Interested in how you can effectively use marketing automation to transform the way your company grows revenue? We can help!