Introducing marketo-performance-insights

Editor's Notes

• #2: Hi everyone thanks for joining our webinar, Introducing Marketo Performance Insights.. I’m Teresa Fok… We’re excited to talk about one of our favorite topics – measuring marketing Impact. Today’s webinar will cover: What makes it so challenging for marketers to turn data and metrics into meaningful performance insights Why these bottom of funnel metrics are so important for proving your impact How marketers can easily measure valuable business metrics with the new Marketo Performance Insights analytics dashboard. And finally you’ll get a chance to see MPI in action first hand as well.
• #3: Before we get started, let’s go over Housekeeping Let’s jump right in
• #4: We have a data explosion in Marketing.. There are more and more ways to reach your customers than ever before, and new channels cropping up everyday everyday. Think about all of the different digital channels we have at our disposal --> Email, web, social, mobile, ads. More channels also means a whole ton more data and metrics generated  everything from email clicks to website visits to ad conversions. (pause) We know all this data has potential to be very powerful but the million dollar question is whether marketers are able to harness the power of this data at all? Are we using all of this data for the right things - it to measure performance, guide decisions, or prove business impact?
• #5: According to some recent stats, the ability to measure marketing results continues to be a major challenge for B2B marketers. It’s also a area that’s becoming more and more important rising to the top of priority list for many marketing teams. 2017, 77% of global B2B marketing decision makers revealed that lacking the ability to measure results is one of their top marketing concerns, up from 58% in 2016. In a 2017 survey, 77% of B2B marketing decision makers listed the use of data and analytics to guide marketing decisions as one of their department’s top five weaknesses. Finally CMOs are now putting their money where their mouth is  and investing a lot more marketing analytics. Marketing analytics has jumped ahead to the No. 1 area of CMO spending compared with last year, when it came in at No. 4 behind the website, digital commerce and digital advertising. Despite all of this focus on analytics, why haven’t we as marketers cracked the analytics code?
• #6: To answer this questions, I like to think of metrics like LEGOs - particularly a bin of loose Legos bricks. Right out the bin, Lego pieces are a bit unprocessed. They’re all different - scattered pieces, different shapes, colors, and sizes - but you can’t do very much with a any single Lego brick Anyone can start playing with the Legos, even children – but if you want to build something complex and realistics – like an Effiel tower or a space station – it’s not clear where to start. You might have some numbers on the bin, how many red pieces or how many 2x2 bricks there are, but that’s not helpful enough for you to build anything meaningful All in all – Legos are a great foundational pieces, but when by themselves as individual Lego bricks and unprocessed, they’re not very useful or meaningful at all. ---- Not meaningful Like data, Legos right out of the bin are unprocessed. They are loose scattered separate – and we have a whole lot of it that’s not hard to get at all. Each piece is different – different shape, color, and sizes By itself, it’s not meaningful and have no utility- easy to make any meaning it Not very meaningful or useful by itself
• #7: It’s only when you start combining the Lego pieces and putting all the disparate pieces together in a strategic, you can start to see the bigger, more meaningful picture. But getting here wasn’t easy – But for something as impactful as the Taj Mahal, you needed a deep understanding of the model and how to build it You probably need some Lego-building experts to help you put that together Even with that, it’s manual work that takes hours of hard, painstaking labor, to identify all of the different pieces in your mixed set and putting them together Your final product also needs to be something that’s meaningful and easily understood by the viewer  for example  this is Lego building is simply made out of different ivory pieces, but to the viewer eye- we understand and recognize this as the Taj Mahal. ---------- 1) Tedious 2) Need experts 3) Translate it into something that’s meaningful Use interchangeable pieces of Legos to build it into something that more powerful and meaningful. This is the same for data – data has separate pieces in itself is not very meaningful. It’s a good foundation for building something  but you need to process the data first to make into meaningful insights which can be a very difficult process. It's only when you start combining metrics while using statistics to understand feasible, accurate, and appropriate combinations, can you start to build a Lego model which equates to your insight. If you follow the same exact building instructions as someone else, you'll end up with the same model (insights) possible with slightly different shape or color. But if you stray from an premeditated design and combine metrics creatively using statistics to show why that's the right way to do it, you can make a brand new Lego model/insights. 
• #8: So what does this have to do with analytics? Turning a bin of scattered lego pieces into a Taj Mahal is a lot like turning raw marketing metrics in a meaningful business insights. Like individual lego pieces  marketing metrics in themselves- email opens, website clicks, or webinar registrations - are important and not very meaningful unless combined together to see the full high-level picture. It’s a good foundation for building something but they’re not the end all be all  but you need to process the data first to make into meaningful insights. The first challenge is that traditional marketing metrics are weighted towards the top and middle of the funnel. Focusing on activity metrics is a lot easier but its not always the most impactful. Metrics like email opens, website clicks, or webinar registrations are important, but I’ts not going to help you sow credibility or retain budgets like business metrics. Things like pipeline generated, opportunities created, and revenue won are what will help you prove impact. When you’re focused on top of funnel metrics, It’s hard to capture the full picture of all your influential touchpoints like outbound sales calls or capturing bigger picture insights from strategies like ABM campaigns or multi channel campaigns. Plus you’re probably not giving credit to all of your touchpoints in a multi-touch strategy. All of this wouldn’t be as critical fi it didn’t lead marketers down the wrong path. When your optimizing and making critical business decisions based on top of funnel data, you won’t have the full picture of how your campaigns and channels are performing. For example, without having insights into downstream revenue performance of an expensive tradeshow, it’s likely going to be first on the chopping block. --- B2B Marketers Focus On Measuring Program Outputs, Not Business Outcomes Lacking the skills to manage messy corporate data and glean important insights from it, B2B marketers measure what is convenient and easy, tracking and favoring quantity over quality. However, marketers who fail to align marketing activity with business results will continue to struggle to gain credibility and retain budgets. Marketers need to move away from Activity Metrics Just getting started, still focused on Vanity Metrics vs Business metrics Ex. Web Traffic, Email CTR, Form Conversions, Social Engagmeent ---- Not all influential touchpoints are digital; and systems don’t capture them all automatically (see Figure 4). Phone calls, emails, and events are some common channels that are not necessarily visible to an attribution solution without some work. 
• #9: Just like the building a Taj Mahal from lego pieces is extremely complex and time intensive, getting business impact reporting can also be complex, manual and even frustrating process. (pause) Your marketing data often live in soloed systems that don’t talk to each other. If you want to pull data in one place, it often costly integrations or spending a a ton of time doing spreadsheet gymnastics  lots of manual work to pulling data from different reports and cobble together reports into a single spreadsheet. Even with technology the process isn’t always easier. When choosing marketing analytics software, marketers have to make a tough decision between simplicity and customization. On the simple side, you might have out of the box reports but aren’t flexible or customized. This means you’re stuck with set dashboard views and static metrics that aren’t customizable to get the insights that matter to you. On the other hand, perhaps the tool is too complex – it requires deep understanding of data models to build reports from scratch. Especially with more complex tools, its also hard to move fast and quick without help from highly trained data analysts. Instead of getting the insights you need when you need them, your request will be waiting in the que along with a lot of other tasks. ---- Organizing this data is time-consuming, expensive, fragmented, and frustrating http://insight.venturebeat.com/report/state-marketing-analytics-insights-age-customer
• #10: Finally – Anyone can build something from legos  but it might not translate into something someone can understand. In the same way, CFOs don’t speak marketing and your marketing team doesn’t speak CFO. If we want to prove our impact and avoid being perceived as a cost center, Marketers need to report and measure on metrics that connect to the language of the C-suite- which are things like revenue, profit, and customer growth. The CFO is probably not going to resonate as much with powerpresentation on Click through rates or event regisrations as the amount of revenue driven from a campaign or pipeline created from a tactic Often times the C-Suite isn’t going to wait. If a crticial question needs to be answered or an important deicisons needs to be made, for example, a last minute meeting with your CFO got thrown on your calendar and you need a deep and meaningful analysis to defend your events budget  marketers need a fast way to access data to confidently defend their budget. If the insights are too hard to get or require wait step, decisions are going to be made without you – and not in your favor. B2B Marketers Focus On Measuring Program Outputs, Not Business Outcomes Lacking the skills to manage messy corporate data and glean important insights from it, B2B marketers measure what is convenient and easy, tracking and favoring quantity over quality. However, marketers who fail to align marketing activity with business results will continue to struggle to gain credibility and retain budgets. Marketers need to move away from Activity Metrics Just getting started, still focused on Vanity Metrics vs Business metrics Ex. Web Traffic, Email CTR, Form Conversions, Social Engagmeent ---- Not all influential touchpoints are digital; and systems don’t capture them all automatically (see Figure 4). Phone calls, emails, and events are some common channels that are not necessarily visible to an attribution solution without some work. 
• #11: We can summarize all of these challenges with a struggle that’s common to most marketers… What are marketers to do? How can we tie critical business metrics to our marketing efforts when we’re short on time and resources to help us prove our impact and get us the insights we need quickly? We talked a lot about these time and resource constraints – and now I wanted to talk about how all of these connect to Marketo Performance Insights which is the newest addition to Marketo’s family of analytics products.
• #12: MPI makes it easy for marketers to get essential performance insights – like rich pipeline and revenue analytics across all channels and campaigns – in an intuitive, and visual dashboard. It helps them make smarter decisions and prove impact on the business right at your fingertips.
• #13: So let’s jump in one level deeper and I’ll get into how MPI helps solve challenges around complexity. Instead of navigating through different reports, MPI gives a quick high level snapshot of all your essential performance insights –from top of funnel engagement metrics all the way down to business metrics like pipeline and revenue. It’s a one stop shop that is full of rich insights. The dashboards are pre-configured out of the box as well. What this means is that you don’t need to build any reports at all or understand any data models to see value from it right away. Even though MPI is pre-configured, its not static. Flexible filters and settings make it easier to customize your dataset with just a few clicks. Lastly, it’s built just for marketers – the interface is very intuitive and visual. Wehther youre a practioner or executive, Pretty much anyone can open up MPI not only understand how to use it, but also quickly get insights from it at a glance. It definitely doesn’t take a data scientist to use. MPI is meant to help marketers save time by getting the performance insights faster. ------------ How does MPI work? MPI offers immediate insights without complex or manual processes. The dashboard helps you demonstrate the success of Marketo campaigns with essential performance insights from top-of-funnel metrics, like engagement and acquisition, down to pipeline and revenue, all at your fingertips. Easily explore how campaigns and channels are engaging customers and driving business results that combines ease of use with powerful sophistication. The pre-configured dashboard has flexible filters and settings, and is purpose-built for marketers, not data scientists. MPI helps your team be more productive – so they can get critical business questions answered quickly without pulling from data from siloed systems, cobbling together reports, or relying on analysts.
• #14: The insights offered in MPI are rich, meaningful, and can help marketers guide their decision making in an easy and confident way. So whether you’re in a team planning meeting or a QBR, you can use MPI to help you pull data and analysis to prepare for the meeting, or you can even pull up MPI and have a conversation with your tema seamlessly using the dashboard. MPI can help get insights into what’s working or not so you can optimize spend. One of the top things MPI does it help you see your channel mix in a visual way. You can see which channels are driving pipeline and revenue or not, so you can better optimize your channel mix and relocate spend. Then you can drill down into individual programs and view your top programs by engagement, pipeline created and won, revenue performance, and more Finally MPI lets you compare different marketing strategies are performing at a glance. Maybe you want to compare how your new ABM campaigns are driving revenue compared to your other initiatives. Help you see if this is a strategy worth continuing or if you should switch gears and try something else MPI has powerful filters to let you slice and dice your data in different ways.  whether it’s drilling down into yoru ABM Account Lists, or seeing everything that’s happening in your North America region, or maybe performance related to your big annual user conference Being able to see trendlines in a visual way All of this data ties your marketing activities into critical pipeline and revenue results The flexible filters and data also makes it easy to view your data from different angles --> maybe you want to drill into how much revenue your ABM campaigns brought in. Or how many new leads did you get in your Enterprise business segment from Tradeshows last year. There are many ways to slice and dice, and layer data to see exactly what you need to know. Easily spot consistently winning strategies with trends and y/y performance so you know what channels and programs you should double down on, or which ones you should avoid.
• #15: Finally, whether youre defending your marketing budget or building a case for increased budgets, prove marketing’s impact to the executive team and show that you’re not just a cost center is now easier than ever before. It’s easier to use the CFO’s language when your dashboard already has all the metrics they care about in one view. Pulling data and building exectutive level reports can be manual and time consuming. The reports are also easily exportable and sharable. With one click you can download the reports to powerpoint already preformatted for you. You can also save the reports and get access to them later. Executives really love MPI. One of our customers actually pulls up MPI and walks them through it in her executive reviews with the CEO and CFO. We’ve heard from customers that their executives love MPI – it’s the best tool that they ever used. In fact, one of the customers in our beta actually pulls up MPI in front of their CEO and CFO and walks through the report with them answering questions as they come along. They love that it’s not static and MPI can adapt to whatever question is presented. Now I’ll pass it over to Amy who will give us a look at how MPI can help address some of marketing’s top business questions in an easy and quick way.
• #16: Now I’ll pass it over to Amy who will give us a look at how MPI can help address some of marketing’s top business questions in an easy and quick way.
• #17: Before we jump into questions, I wanted to remind the audience that Marketing Nation Summit is almost here on April 29 to May 2. If you’re not yet registered, it’s not too late. Summit brings together 6000+ of the best and brightest marketing minds all in one place. This year we have 100+ thought leadership sessions for all markerters, networking opportunitys, and opportunites to learn how to use Marketo more effectively. Also don’t forget the parties which is always a good time. ------------ We know our customer has changed. That’s why 2018 is the year of the Fearless Marketer. A Fearless Marketer is fast, brave, and bold in the face of change. They embrace new technology, pioneer a path to deeper customer engagement, and bring others – team, organization, & peers – to new heights with inspirational leadership.
• #18: Marketing analytics is a hotter topic this year than before, and there are tones of sessions that focus on reporting, the Marketo analytics roadmap, and how to prove your budget.
• #19: To register just visit this website. If you’re already registered for Summit, we’re looking to forward to seeing you there! ---- Marketing Nation Summit is the industry’s leading digital marketing gathering, bringing together 6000+ of the best & brightest marketing minds. You’ll be inspired by 100+ thought leadership sessions for marketers of all types, connected through networking activities, empowered with hands-on opportunities to learn to use Marketo more effectively. And no one parties like the Marketing Nation - this year’s entertainment features Flo Rida!
• #20: “What are the requirements for setting MPI up?” “How long does it take to implement MPI? “Is it possible to select and compare multiple channels in the trend tab?” (Teresa) – A: Yes! It’s important to be able to visualize your channel performance in one view so we’ll be releasing and making it available this in Q2. (I heard customers are excited about this, and it’s already in production)