Ok, finally I took the time to post my review of Marketo User Summit second day.
It started on a topic that everyone is trying to get the most out of it: Reporting, Analytics and ROI. Chris Newton, VP Marketing at Ketera explained how he is tracking the effectiveness of their program. On a weekly basis, he follows in Marketo standard email performance (click, open, unsubscribe) but he is mostly interested to track the improvement overtime of all KPIs including website traffic. In Salesforce.com he created custom formula fields to track some activities generated by Marketo (Ex: clicks). Lastly, he take a chart for Marketo activities, Website traffic and Opportunity created over the same period and align them 1 above the other. That helps him to correlate the results. On a side note, his main concern still that there is no out of the box reports for all he needs. He always needs to return to Excel and it takes about 1 hour a week of his time to do so. I also heard some ask” Whay is it that the report your boss wants is never a prebuilt report and we always have to manipulate data to get it done?” Funny!
But that that can change soon… Jon Miller, VP Marketing and Co-Founder at Marketo present how Marketo was actually doing their analytics and reporting. They are tracking a lot of metrics with regards to the Sales SLA they have in place and based on their demand generation funnel, they are looking at:
- Number of prospect
- Number of leads
- Number of opportunity
Next I was in the data quality track and I really enjoyed from Diana Lustenader, Marketing Specialist at Kapow technologies. Here is her take on data quality.
In the afternoon, Marketo presented some new features from the new release in October. The vast majority of features is around the reporting and analytics module. Marketo was lagging a bit on that module and they are fixing it those new releases. Here is the list:
- Report leads by quarter:
- New report called “Lead by X”
- Report now have a chart and we can change the style
- Add and remove opportunity data
- Group reports by (ex: Original search phrase, owner, referrer, inferred city)
- Drill down capabilities that allow you to group by go deeper wit your data
- The possibility to add Smart list as column in reports
- Date of activity (AKA Time Frame) is new filter to specify a time frame of an activity
- Filter on Emails report + Total number at once
- Better email subscription and ability to attach the Excel file
- Reports keeps the order and sorting
They also took the time to review some exiting features, mainly related to usability, that people a maybe not aware like:
- Use Bookmark to have quick access to specific reports
- Use the Back button to navigate
- Open another module in a new tab or in a new window
- Unapproved old email to get them out of your views
- Use the Inferred Company to blacklist or ID competitors
- Use inferred State to assign leads
- Convert integer fields to score fields
After that, sponsors came to present. In a presentation called “Landing Pages: Where The Eyes Go“, I notice how Enquiro used there own to Eye tracking technology to validate their new Website redesign. They actually iterated the design 4 times to find the best one.
Also, Debbie Qaqish from Pedowitz Group was back again with a very useful list of the 10 best practices of lead scoring:
- Do lead scoring WITH sales
- Map out the Buying Process
- Use the Workshop Approach
- Use the Worksheet
- Don’t be afraid to TRY!
- Be ready to adjust based on data
- Be ready to adjust based on feedback from sales
- Include Demographic data = are they qualified?
- Include behavior = are they ready?
- Do lead scoring WITH Sales
Lastly, the day and the Summit ended by the Marketo Idol Showcase contest. 10 customers of Marketo climbed on stage to present some cool stuff they did with the product so far. I was among them and I presented “Website visit frequency – Lead scoring beyond basic behaviors”.