Accelerate Revenue with LEAN Digital Strategy | Webmarketing123 & Aberdeen
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This document discusses how lean tools and processes can help CMOs tackle modern challenges around increasing ROI accountability and sales funnel complexity. It recommends a 3 step approach: 1) Calculating the revenue opportunity from search to quantify the digital marketing opportunity, 2) Using multi-touch attribution to measure cross-channel effectiveness, and 3) Applying lean processes like kaizen workshops and accelerated launches to optimize campaigns and get better results faster. Case studies show how these lean approaches helped clients increase leads by 8x ROI and generate 38,000 leads for a manufacturing company.
Accelerate Revenue with LEAN Digital Strategy | Webmarketing123 & Aberdeen
- 1. Accelerate Revenue with Lean Digital Strategy Paul Taylor CEO Oct 17th, 2013
- 2. Agenda 1 2 The Modern CMO Challenge Tackling the New B2B Sales Funnel Lean Tools for the Digital Frontier Fueling Revenue with Lean Marketing Since 2004, we’ve employed a metrics-based approach to converting online visibility into measurable business results 2
- 4. The Modern B2B Marketer Part Artist Part Scientist Creative Content Tracked Performance Visual Media Operations Social Media Analytics Email Marketing Return on Investment Image Source: Salesforce & Pardot, ‘The Modern Marketer’ All of this boils down to 2 MAJOR CMO Challenges: 4
- 5. 1 Increasing ROI Accountability CMOs are expected to pioneer digital with calculated certainty. “2/3 of CMOs will be held accountable for ROI by 2015. But, HALF feel insufficiently prepared to provide hard numbers.” - IBM 2013 CMO Study All of this boils down to 2 MAJOR CMO Challenges: 5
- 6. 1 Increasing ROI Accountability CMOs are expected to pioneer digital with calculated certainty. Proliferation of new digital channels magnifies the problem. 1 in 4 marketers don’t know which channel delivers the highest quality leads. 1 in 3 don’t know which channel generates the most revenue. - Webmarketing123, 2013 State of All of this boils down to 2 MAJOR CMO Challenges:Digital Marketing Report 6
- 7. 2 Increasing Funnel Complexity Navigating the ‘hidden’ sales cycle of the new B2B buyer. Then Now Source: Branding in the Digital Age, McKinsey, HBR, Dec. 2010 7
- 8. 2 Increasing Funnel Complexity Navigating the ‘hidden’ sales cycle of the new B2B buyer. Buyers are moving 60% of the way through the sales funnel before they engage with sales reps. Source: Corporate Executive Board, The Most Important Number in Marketing, Aug. 2011 8
- 9. 2 Increasing Funnel Complexity Navigating the ‘hidden’ sales cycle of the new B2B buyer. Reads peer reviews. Discovers blog covering vendor differentiators. Contacts sales rep directly. Google searches services. Sees competitor display ads. That means nearly 2/3 of the customer journey is completed BEFORE they appear on your radar. Are you on their radar, especially in the EARLY stages of the sales cycle? 9
- 10. So, What’s a Modern CMO to Do? Build a data-driven digital marketing strategy that delivers with lean execution. Here’s how to get started: Image Source: Salesforce & Pardot,‘The Modern Marketer’ 10
- 11. Agenda 1 2 The Modern CMO Challenge Tackling the New B2B Sales Funnel Lean Tools for the Digital Frontier Fueling Revenue with Lean Marketing Since 2004, we’ve employed a metrics-based approach to converting online visibility into measurable business results 11
- 12. Why all the hype about lean tools? “Agencies that apply lean tools get 33% Better Results.” - Boston Consulting Group, ‘Cutting Complexity Adding Value’, May 2013. 12
- 14. Lean Digital Marketing enables our clients to: 1 Get results 66% faster. 2 3 Cut cost per lead in half. Experience 2X lead volume. 4 Gain $8 pipeline revenue for every $1 spent. 14
- 15. Case Study: $16B Manufacturing Company Dominated offline market, but lacked cohesive online presence and lead gen. Decentralized BUs focused on vanity metrics. Developed kaizens to implement programs and accelerate lead gen from search. Standardized scorecards, benchmarks, & projections.
- 16. Case Study: $16B Manufacturing Company BOTTOM LINE: 38,000 Sales Leads Worldwide in 18 Months. Lead 23 Operating Companies across 5 countries through 25+ Kaizen Workshops to accelerate global digital marketing lead gen growth.
- 17. Case Study: Zenprise Extremely competitive, mobile industry keywords. Internal team lacked bandwidth. Needed to increase lead volume. Implement lean accelerator launch. Set benchmarks w/ scorecard accountability. Create decisive action plan.
- 18. Case Study: Zenprise BOTTOM LINE: 8X Return on Search Investment
- 20. Accelerate the B2B sales funnel with 3 Steps: 1 Calculate your revenue opportunity from search. 2 3 Measure channel effectiveness with multi-touch attribution. Get better & faster results with the Lean Process. 20
- 21. 1 Calculate Search Opportunity Quantify Digital Marketing Opportunity in Terms of Dollars. Example: “As a channel, search is worth nearly $1.6 BILLION for us.” - Raj Rao, 3M VP Global eTransformation 21
- 22. 1 Calculate Search Opportunity Quantify Digital Marketing Opportunity in Terms of Dollars. Cost of Not Ranking Formula A simple calculation can inform you how much revenue you are missing by not ranking on search engines for top keywords: Keywords Monthly Search Volume Resource management 673,000 Portfolio management 207,000 Project management software 59,200 It governance 27,600 Software project management 15,700 Project management tools 14,800 It project management Monthly Cost of Not Ranking on these Keywords Click Through Rate (7%, page 1 average) 71,729 new website visitors Visitor to Lead Rate (1-3%, B2B average) 1,793 new leads Raw Lead to Qualified Rate (15%) 269 new qualified leads 12,100 Lead to Sale Rate (10%) 27 new deals Project management office 8,700 Average sale price $100,000 Project portfolio management 6,600 Total Monthly Searches 1,024,700 $2,700,000 monthly revenue Annual Cost of Not Ranking $32,400,000 annual revenue 22
- 23. 2 Cross Channel Attribution Streamline campaign optimization w/ multi-touch attribution. Close the gap by tying SEO, SEM, & Social visitor data to won deals in CRM.
- 24. 2 Cross Channel Attribution Streamline campaign optimization w/ multi-touch attribution. Optimization Feedback Loop 24
- 25. 3 Fuel Revenue with Lean Tools Applying traditional lean process to digital marketing. Accelerator Launch Implementation Keywords Research, Competitive Audit and Opportunity Analysis Content Selection and Mapping Blog, Press Releases, White Papers, “How-To”, News Site Architecture Meta Content Page Titles, URL’s Tracking & Adjustment Inbound Links Social Signals Reporting with KPI Scorecard, Attribution and Optimization 25
- 26. 3 Fuel Revenue with Lean Tools Applying traditional lean process to digital marketing. Accelerator Launch Kaizen Accelerator Workshop 1. Establish cross departmental commitment. 2. Detail accountability. 3. Complete all pre-launch tasks. 26
- 27. 3 Fuel Revenue with Lean Tools Applying traditional lean process to digital marketing. Example Workshop Deliverable: Action Plan with Owners
- 28. 3 Fuel Revenue with Lean Tools Applying traditional lean process to digital marketing. Implementation Execute on Action Plan 1. Launch SEO, SEM, & Social campaign components. 2. Optimize for continuous improvement based on scorecard benchmarks. 28
- 29. 3 Fuel Revenue with Lean Tools Applying traditional lean process to digital marketing. Measurement Scorecard Accountability 1. Focus only on the best leading metrics to revenue. 2. Adjust with Root Cause Counter Measure. 29
- 30. Use Lean Tools to Realize 3 Key Takeaways: 1 Quantify your revenue opportunity from search to inform your digital marketing strategy. 2 3 Measure channel effectiveness by revenue with multi-touch attribution. Get better & faster results w/ accelerated Lean Process. 30
- 31. Thank you! 31
- 32. Keep the discussion going. Connect with us on LinkedIn: Join our new Bay Area CMOs LinkedIn group to stay in touch. 32