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”.
What a conference! The day started with an inspiring keynote from Phil Fernandez, Marketo CEO and co-founder. He announced that they just closed their Series C of funding and that Wes Wasson, CMO of Citrix, will join Marketo board. He also talked about upcoming features in current Marketo products and road map for new product:
- Lead Management (Fall 2009 release to includes enhance reporting with charts and more custom metrics and Winter 2010 release to include Workgroup and enterprise role, event management & programs 2.0)
- Sales insight (Just released)
- Pipeline Analytics (Winter 2010 Pipeline conversion, campaign influence, Forecasting, Presentation – automated reporting)
- Dynamic content optimization (future date)
- Budget & planning optimization (future date)
The second presentation was given my Jon Miller, VP marketing and co-founder. As I tweeted about, the presentation “How Marketo uses Marketo” was all about amazing content that translate in real actionable setup for your nurturing and scoring campaign. Jon gave actual use case of what he implemented for scoring and lead management.
After the networking break, there were 2 tracks:
- Refresh Your Emails and Landing Pages
- Scoring Leads for Sales Intelligence
I assisted the second one about scoring leads. Jenny Coupe (@jennycoupe) from Nimsoft presented their scoring model after explaining their extensive vendor selection process. They went over 60 day’s audit of multiple vendors and kept 2 for proof-of-concept trial of 1 month.
Jason Stewart (@jasondemandbase) presented Demandbase scoring model by putting emphasis on behavior scoring rather than demographic scoring. He also explains how he got sales to participate in the scoring model. He actually ask them to rate on a scale from 1 to 100 was the value of different actions. That end-up being the base of his scoring model.
Afterward, 5 partners from the Marketo Customer Enablement Team presented their offering:
• SEO: Inside the Mind of the Searcher (Enquiro)
• Data Services Integration for Better Prospecting (Jigsaw & ReachForce)
• Getting Sales On Board (Pedowitz Group)
• Remarkable Content to Power Lead Nurturing (Tippit)
The majority of the content from partners was great but I believe it felt a bit long, especially after having real hands-on content from previous presentations.
The fuzziest word of the day belongs to Debbie Qaqish from Pedowitz Group when she described Sales and Marketing alignment as “Smarketing”. Her top 10 marketing and sales alignment tips also caught my attention:
1. Build a language of leads
2. Build a common lead management
3. Create a lead scoring program
4. Build Sales Champion for the lead management
5. Build field focus campaign
6. Create regular communication cycle & feedback loop
7. Institute service level agreements
8. Metrics that matters
9. Learn about sales
10. Educate, educate, educate
Off to bed now, more to come tomorrow for the 2nd day of the Marketo User Summit 2009. Where I’m actually presenting some scoring strategies in the “Marketo Idol Showcase”