Archive for October, 2009
Last week Marketo held a great webinar with SiriusDecisions and the American Marketing Association (AMA) called “2010 Blueprint: Planning for B-to-B Marketing Success“. They exposed what marketers should be looking at for the next year. Here is some of the key points:
For Demand Creation:
- Move your dollars from initial demand generation program toward lead nurturing program
- Review processes between sales and marketing to better align them (make sure you don’t overload sales with too much data when handing off a lead)
- Put in place a Data quality program by 1st fixing point-of-entry and 2nd prioritize data quality projects based on relative targeting
- Focus reputation program dollars on measurable activities
- Reallocate non-performing traditional media dollars to social media
Really worth watching if you are thinking about improving your marketing initiative in 2010…
Last week I read a great post by Jep Castelein from LeadSloth called “Why Are Marketing Automation Managers So Hard to Find?“. That article made me think about the different terms in the industry we are using to describe what we are doing. Some call it Demand generation, other will say marketing automation and other lead management or lead nurturing. All these terms can means different things depending on who you are talking to. In addition, if you add terminology that is related, like inbound marketing, it become even harder for new people to get familiarized with the space.
Why is there so many terms describing pretty much the same thing you may ask? Well I would say that it is most likely related to the fact that in new born industry, every vendor is an evangelist. They all want to spread the good news, but they all want to have an edge on other evangelist and they all create and brand their “own” terms to explain their specialization. For example, Brian Carroll, literally invented the terme Lead Nurturing, Eloqua strongly branded Demand Generation for the past 10 years and Marketo is talking about sales & marketing alignment in the revenue cycle.
New incomers are now asking themselves questions like:
- What is it that I need to do? Demand Generation? Lead Nurturing? Inbound Marketing? Sales and Marketing alignment?
- Is inbound marketing part of Demand generation or vice-versa?
- Is lead nurturing part of lead management or demand generation?
- Is lead scoring part of my demand generation or lead nurturing programs, or both?
I think that now the space is becoming bigger, there are more people that is looking at us and we even see consulting groups focusing on that space, we should take the time to precisely define terminology. The more precise and uniform we get, the better the adoption will be by companies. They will find more easily information on the topic if we use the same terminology.
Here are my takes:
- Lead Management is the global term we should use to describe what a marketer need to do to align sales & marketing, to nurture is leads and to generate demand about is product.
- Marketing Automation is the set of tools you use in order to make your lead management process to work.
- Lead Nurturing or Demand Generation are specific program that you run in your lead management process with the help of marketing automation tools.
- Lead Scoring is the set of rule you use in your marketing automation tool to rank the lead you generate from your programs.
- Inbound Marketing is a marketing strategy that helps your business get found on the Internet by your best customers through blogging, social media, SEO. (As found on Hubspot…)
To recap in one sentence:
In order to have a successful Lead Management process, you need a good Marketing Automation tool that allow you to Nurture and Score the Leads Generated from your Inbound Marketing strategy.
Late September, I participate to the first Marketo User Summit. The event was a gathering of many Marketo customers exchanging ideas best practices for better demand generation and lead management. I covered the Summit with 2 posts for Day 1 and Day 2.
I was also invited to participate in the inaugural Marketo Idol Showcase awards program. The Marketo Idol Showcase awards recognize B2B marketers that have demonstrated excellence, innovation and ingenuity in their use of Marketo Lead Management and Marketo Sales Insight to drive revenue growth and accelerated time-to-value from their demand generation campaigns and marketing and sales activities.
And last week, Marketo published the official press release announcing the winners. Congratulations to Scott Ciccone, Director of Marketing at Sierra Atlantic, who won the Marketo Idol Showcase award.And also congratulations to all other participants.
Yours truly finished 3rd in the contest by presenting an advance lead scoring campaign.