Here are The Marketing Automation Alert’s best marketing automation-related articles curated today, Thursday, 2/7/13. Receive a daily summary of The Marketing Automation Alert directly to your inbox. Subscribe here (your privacy is protected). If you find this valuable, please share by using the links below:
Featured Marketing Automation Article
The VEST contains a great deal of information that provides interesting insights into industry trends. But by far the most quoted piece of content is our estimate of industry size, which we put at $525 million for 2012.
[Sector] estimates showed a six month growth of 18% in total clients and 17% in revenue run rate. The revenue figure is more meaningful because it adjusts for the size of clients, which the raw client count does not. Doubling that to a twelve-month rate would yield expectation of 35% revenue increase. That seemed downright scary.
Happily, my estimates for the major firms came up with 52% revenue growth for 2013. That seemed a little more encouraging. I’ve split the difference and gone with a 45% rate.
Bottom line, then: Raab Associates official estimate of B2B marketing automation vendor revenues for 2013 is $750 million.
No one covers the marketing automation space better than David Raab. He not only knows the industry, but he knows the products dead cold. This is solid data.
Marketers instinctively understand the need to build prospect and customer engagement. But this cannot be done effectively using the old funnel model. The two strategies do not align. Instead, implementing marketing plans to nurture individuals or organizations over their customer lifecycle illustrates a paradigm shift in marketing strategy. It places an emphasis on marketing that goes beyond generating leads and passing them to the sales team. It recognizes that the nurturing of the relationships does not stop at the handoff; it continues past the qualification, and even past the sale.
The Customer Lifecycle Marketing approach recognizes that prospects and customers move through phases in their relationship with a brand, from initial contact to a fully engaged relationship. Marketers play a crucial role in this scenario, communicating with prospects and customers across all channels to drive engagement and movement through the lifecycle.
Forrester has framed this approach as the Customer Experience, and the role of the marketer is to define and manage the full Customer Experience. The article’s premise regarding the need to manage the Customer Lifecycle dovetails with Forrester. Point: stop thinking about funnels, and start shaping your technologies around the lifecycle.
Digital marketing channels have been viewed as better than traditional media for their measurability, but new research from Econsultancy and Responsys suggests that marketers are having a harder time measuring their ROI from digital channels. Among company marketers surveyed – primarily from the UK (46%) and other European countries (19%) – just 50% rated their understanding of ROI from digital marketing channels as “good” (33%) or “very good” (17%), down from 55% last year. By contrast, the proportion rating their understanding as “okay” or “poor” rose from 42% to 48%. The remaining 2% this year rated their understanding as “very poor.”
Honestly, how is it that so many companies are having issues measuring the ROI from digital channels? The essence of digital is measurability. Our guess is that it has everything to do with marketing attribution. If you’re thinking about marketing automation, don’t forget: tag ‘n track!
There are many techniques you can use in order to enable your teams and identify the skills needed to see significant [marketing automation] success. [Marketo has] developed a delivery framework called Drive that enables marketers to achieve faster speed to value and higher marketing maturity. There are 4 steps in this methodology: Discover, Define, Deliver, and Drive.
During the Discover phase you will make sure that no rock is left unturned and that the entire team has a clear understanding of your marketing automation implementation and road map.
Here are some tips to get your started:
- Assign a key team of internal stakeholders that will spearhead the project
- Schedule meetings with teams that will be involved in your implementation
- Schedule a kick-off day which will include your Discover Workshop
- Put KPIs in place for your implementation
Marketo has defined 4 steps, and this post covers the initial step. We will deliver the other 3 steps as they are published. Regardless, it’s a sensible approach to implementing any marketing automation org.
“This report from Forrester Consulting looks at how small and medium-sized businesses are adapting their marketing methods in the wake of the recent recession and current economic uncertainty. The difference between the methods of Top Performers – those who drive revenue and exceed expectations – and Bottom Performers is clear and instructive.”
You’ll want to review the stats associated with marketing automation adoption by SMBs. Regardless, a good benchmark for our SMB readers, and anything from Forrester that is free is a good thing.
Here are two methods that are particularly effective at accomplishing this objective – and one that isn’t.
Method 1: Highlight the Potential Loss of Not Opening (Loss Aversion)
Amos Tversky and Daniel Kahneman demonstrated people’s strong preference to avoiding loss rather than seeking gains. This simple insight earned Kahneman the Nobel Prize in 2002. An important feature of loss aversion is phrasing, [but] as with anything, a respectful approach should be used. Bottom line: using loss aversion to get opens should be subtle and relevant to the recipient and the email’s content. If you come on too strong, you risk ruining the long-term relationship.
Method 2: Use a Name (the Cocktail Party Effect)
Déjà vu? The use of a name is not only effective for grabbing someone’s attention from the other emails filling the inbox, it can also be used to get an open. The first part of the “cocktail party effect” is the sudden reallocation of attention when an emotionally salient word, especially the person’s name, is spoken or written. This method requires creativity. An effective subject line might be “Hey NAME, we clipped this for you.”
Method 3: Use Humor (Note: This Method Doesn’t Always Work)
A common misconception bordering on cliché is that humor somehow makes advertising, marketing, and even education more effective. The fact that its use in driving action is not as effective as many marketers have grown to believe should cause you to think twice about using humor as a crutch.
A very useful article. We’re always looking for methods to increase our clients’ open rates, and what it appealing about this article is the science behind the first two methods. Worthwhile to incorporate into your Subject Line approach.
Backlinking strategies within an SEO strategy are often overcomplicated, but they don’t have to be. Practice an optimized content marketing strategy and make sure your backlinks pass this RAID test so your web presence will excel on Google.
An SEO strategy is about one thing: being found organically by your customers and prospects for highly converting keywords; keywords that are relevant to your audience. Relevance of content is earned when diversified, relevant content sources with authority and influence reference your content. Or, in other words, link to it.
A backlinking strategy is simply about these three concepts:
- Relevance: Is this link coming from a relevant source that further supports the relevance of my content?
- Authority and Influence: Was the source of this link written by an authoritative, influential person or business?
- Diversity: By adding this link to my web presence am I diversifying and adding value to my digital footprint?
Every backlink you build should pass the RAID test. If you’re able to answer yes to these three questions, then you likely have an organic backlink that is going to positively impact your organic search visibility.
If you’re looking for an easy and concise explanation to the basic tenet of today’s SEO strategy, here it is.
Learn from this comprehensive inbound marketing infographic the fundamentals of marketing to your target audience online.
Using social media to enhance marketing isn’t just for consumer marketing companies like Coca-Cola, Netflix and Starbucks. Marketers in B2B companies are finding strategic benefits from using social media too.
To find the potential of social media for B2B marketing, Brennan and Croft first laid out four strategic capabilities that today are considered key to successful B2B marketing. These are:
- The ability to develop an information-based approach to business-to-business branding
- Managing buyer-seller relationships
- Facilitating trusting relationships between buyers and sellers
- Creation of a market driving brand strategy (that is, not just responding to market trends, but helping to create them)
Based on their research, Brennan and Croft concluded that several of these companies were using social media to enhance the four key strategic marketing capabilities (described above), and that U.S. firms were furthest along. Companies that are using social media are using the tools to position themselves as thought leaders, to take a market-driving role in the sector and to build relationships with a range of stakeholder groups.
If you needed further proof, here it is and presented in an intelligent framework. To purchase the study: The Use of Social Media in B2B Marketing and Branding: An Exploratory Study.
Google+ is more than just Google’s answer to Facebook. Plus, there are a myriad of benefits of Google+ for business. Download our exclusive infographic to learn 7 benefits your business could be reaping from Google+.
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