What Are the Characteristics of High ROI Marketing Teams?

Too often, B2B marketers get wrapped up in the world of click and lead volume optimization. But the reality is, the ultimate goal of all marketing should be efficiently generating revenue growth, which is measured by ROI.

In short: effective marketing organizations have high ROI.

So, what defines a high ROI marketing team? Do they have different priorities? Are these marketers using different technology to engage with customers and measure performance?

Advertising

4 Advertising Strategies That Work in a Downturn

The world’s largest cosmetics company is touching up its advertising strategy. L’Oréal saw global sales fall slightly in the first quarter because of store closures, so it cut back on advertising spend. CEO Jean-Paul Aron says demand for the company’s products remains high, but the supply is constrained. Ecommerce sales are up more than 50% compared to last year but don’t replace the in-store experience.

Audience Segmentation with Predictive Audiences | AI for All

We talk a lot about marketing challenges and, oftentimes, those challenges relate to marketers of certain maturities, industries, strategies, etc. But what is one universal challenge for all marketers? Audience segmentation. With our Predictive Audiences capability coming soon, Marketo Engage is transforming this fundamental piece of marketing in the most powerful way – through artificial intelligence. Predictive Audiences will be included in our Prime and Ultimate packages and available as an add-on for our Select package.

Automation

Marketing Automation Can Improve Your Creative Team’s Workflow

Marketing automation empowers organizations with the ability to more accurately predict the ROI of proposed marketing engagement campaigns. The question, “Does this marketing initiative have the potential to succeed?” can be answered ten times over by companies who have access to the right customer data. It’s become imperative to have these insights, “The best engagement plans contain proven strategies. The initiatives have to be tested, measured, and validated as successful before full implementation.”

How to Determine the ROI of Account-Based Marketing

When it comes to marketing and sales, the more precise and specific you can get with every customer, the better. Customers want to feel important and be recognized by brands, which is exactly why strategies like personalization are so effective.

Account-based marketing (ABM) is a B2B strategy in which sales and marketing teams work together on a clearly defined set of target accounts to serve personalized campaigns uniquely designed for each individual account. And, as marketers observe how their customers move through the buyer’s journey, they can create even more personalized messaging and collect better data for improving their experience and increasing Average Order Value in future.

The Pandemic In-Box | Email Marketing Strategy During COVID-19

The rapid onset of Covid-19 forced many businesses to quickly halt or adapt their existing email marketing strategy. Content needed to be evaluated for appropriateness, execution and segmentation strategies reconsidered for a disrupted market. For many, the fast-fix was a letter from leadership discussing how their company specifically would manage the challenges of the pandemic.

What Key Marketing Metrics Matter for Your Website?

Synchronizing your website with digital campaigns offers a holistic view of the effect your marketing efforts have on revenue. We talked about the trifecta of these channels on “How to Measure Digital Marketing Metrics and ROI,” but here we’re going to get into the nitty-gritty of website metrics specifically. Now, I love me some numbers, but it’s sometimes a little boring to be talking metrics, am I right? Instead, we’re going to approach your website in a way most people got their start in business: a lemonade stand!

This blog will help guide you through some key marketing metrics for planning and nurturing ROI through your website.

Website Visitors = Thirsty People

Audience analysis is arguably the most important task informed by your website metrics. These metrics answer the question: “am I reaching my ideal customer?” A quick glance at age, gender, location, and language can tell you if something is up. You don’t have the resources yet to sell your lemonade to someone a couple of towns over. So, focus your efforts on what you can impact now. It’s important to look at devices and tech and interests. Are the majority of your visitors using their phones to look at your website? Make sure your site is mobile-friendly and quick to load. Are you hitting the right age range but not converting? Look at their interests and check if they align with your services or products. These metrics help confirm if your website visitors reflect the buyer persona you created.

Let’s differentiate visitors to visits with users, sessions, and pageviews. Users are unique visitors that have come to your site, which in itself is made up of new visitors and returning visitors who have come for the second time or more. Sessions are the total number of visits to your site while pageviews are the number of pages visited. Let’s say a neighbor visits your lemonade stand (let’s call the stand “My Main Squeeze”) three times and each time debates between four different menu items. On a website that would result in one returning user, three sessions, and 12 page views. How do you determine an engaged user and session? Take a look at the average session duration and pages/session. If most visitors are spending less than five seconds and not visiting other pages, then it’s likely an accidental click or immediate loss of interest, making your other metrics less impressive. That’s the equivalent of people walking past My Main Squeeze without even looking at you or saying hello back. Rude!

Site Content = Menu Items

You have your visitors, now how are you going to retain them? Let’s talk about site content! If you don’t have content your visitors find valuable, then no one is going to stay. Someone might not want regular lemonade but is interested in trying the brownies, sliced fruit, or spicy mango lemonade. Page metrics show you the most viewed pages and average time spent, along with the least viewed pages. By analyzing the behavior flow report, you’ll be able to see how far down into your website they dig and the interactions they make along the way. Take a look at these metrics: session duration, bounce rate, exit rate, and exit pages. These tell you how much time visitors are spending on your site and at which point the pages turn them away. Look at those failing pages and ascertain a reason as to why they are causing your visitors to bounce. Is this page loading too slowly? Does it lack the content the visitor expected? You can find out by looking at search terms and see precisely what they are looking for. Perhaps the content is on your website but not easily accessible. Find the weak spots in your site, test and fix them to keep your visitors engaged.

Acquisition = Bringing in Customers

How did people find My Main Squeeze? Maybe it’s word of mouth, the sign with directions you posted a couple of blocks away, or your choice of location. Find what is bringing you the most traffic and capitalize on it! You can find the answers under the traffic metrics channels, source/medium, and referralsChannels show you sessions brought on by social media, search engines, email and more. Source/Medium offer the same insight but specific to website or service. Referrals are as you could have guessed: where your website was referred from. Are you running several paid campaigns across these channels that lead to your website? Dig even further with acquisition metrics like search queryAdWords campaigns, and URL parameters to see which campaigns are driving the most results. By looking at this information, you will be able to determine where to focus your digital marketing spend. You might learn that you get more customers from cute signs you put up over sending your little brother with samples down the block. Put up more signs and tell your brother to stop eating the samples and help out with the new rush your signs brought in!

Conversions = Buying Lemonade

With so many metrics to measure on strengthening your website, how does this all apply to selling more lemonade? With a robust, well-rounded website and digital marketing strategy, you’ll have a better chance of converting visitors into customers. Saving the best for last, be sure to set up different goals—such as subscribing to your newsletter, registering for an event, filling out a contact form, or making a purchase—and attribute value for each conversion, be it a transaction or future lead. These metrics measure the end goal of your website: to generate awareness and revenue. As you continue to work on your website, you will see changes in goal completions. What on your website is producing the most value? Explore the funnel visualization and reverse goal path functions and follow the path to the point of consumption. Where did they start, where did they go and how did they end up converting? If something is working, keep doing it and think about how to make it even better! By selling your customers on the brownies, it assists in the sale of lemonade to wash it down. This can also show you if they stopped short of a goal completion—another way to improve the user experience. Did a potential customer stop short of a lemonade purchase because you didn’t have correct change? Keep more change handy! Make the process as smooth as possible to remove time for doubt.

Conclusion

So, what’s the main takeaway from this blog? Finesse your website to squeeze out as many goal completions and conversions as possible. With some good old-fashioned marketing know-how, My Main Squeeze visitors will have a better chance of flowing through the funnel and sipping lemonade. Take a look at the metrics I’ve shared here and start testing. What other metrics and insights do you have in mind when looking at your website? Share them in the comments below!

Via Marketo blog.

5 Lessons Learned After One Month of Virtual Events | Field Marketing

It’s no secret that this is a challenging time for field marketers and event marketers. By now, we’re all well aware that we need to pivot from in-person to virtual events – but knowing how to get there and how to achieve your desired result is easier said than done.

For those who specialize in events, trade shows, or field activities, making the pivot from in-person to virtual events is likely uncharted territory. Many of us are figuring it out as we go, experimenting with new technologies, and learning how to fail fast.

We’re over a month into our new reality, and our field marketing team has launched six virtual events. To help as you continue to pivot from in-person to virtual events, I’m sharing the top five lessons we’ve learned so far.

Always Have a Plan B…and a Plan C

Our day-to-day reality is changing fast, and when it comes to events, there are a lot of factors that are outside of our control. What might seem like a fool-proof idea today, could be almost impossible to execute by tomorrow. Having backup plans in place is critical for success.

When we canceled one of our in-person dining experiences, our Plan B was to host the event virtually by having a celebrity chef live-stream a fully produced cooking class from a studio kitchen. As part of that experience, we would also send the attendees meal kits to cook along with the chef.

Shortly after launching, the shelter in place orders went into effect in New York City, taking studio production and meal kit assembly off the table. We then had to pivot to Plan C – having the chef film the video herself in her own kitchen, selecting a recipe that focused on pantry staples, and sending gift cards to all attendees to buy the necessary ingredients.

While the meal kits would have been a nice touch and a studio-produced video might have had more polish, the end result still allows us to connect with our customers in a meaningful way.

Shelve the Presentations

If your inbox is anything like mine, you’re receiving multiple webinar invites every day. While I still think webinars are an important tactic and content is (and always will be) king, what we’ve found our customers really want right now is an experience.

In fact, I’ve watched registration for some of our virtual experiences fill up twice as fast as our previous in-person events.

According to Forbes, the scheduling platform Doodle has seen a “296% increase in group meetings for virtual-only happy hours, cocktail hours, wine/beer/drink social events,” and a “100% increase in group meetings booked for virtual-only yoga, dance, exercise, workout, fitness, aerobics, and Pilates sessions.”

Consider swapping your next content-led event for a hands-on virtual experience, like a baking class, wine tasting, or craft workshop. You can still insert your messaging by having an executive speak at the top of the event or asking your sales reps to interact with customers on video or in a live chat.

Don’t Be Afraid to Make Mistakes

Launching an event that isn’t 100 percent planned might make you nervous, but I’m here to tell you to just do it. You need to move quickly in times of change.

Once you have an “MVP” (minimum viable product), go ahead and launch. Put your event out into the market to see how your customers are receiving the idea. Take note of what’s resonating and what’s not, and use that feedback to continuously adapt.

With some of our initial virtual events, we started small by targeting our “MVP” to a single market. We then gathered the feedback from internal and external stakeholders on how that event was resonating with customers. Once we were able to incorporate some of that feedback, we then expanded our efforts to target a larger, regional audience.

Along those same lines, don’t be afraid to try something different. Times of constraint can breed creativity. Not every idea will result in a home run, but as long as you’re failing fast, you’ll be able to continuously improve.

(Over) Communicate and Collaborate

As our team continues to pivot from in-person to virtual events, we’re noticing that some of our field marketing efforts are overlapping with other teams’ campaigns.

We’ve learned that it’s imperative to collaborate with other marketing teams to ensure we aren’t duplicating efforts. We also know that we share an audience with our entire marketing organization, so we need to be mindful that we aren’t overwhelming our customers with too many offers.

Since most people are working remotely right now, make sure you have the appropriate channels in place to facilitate an open, continuous dialogue with your marketing counterparts, and don’t be afraid to over communicate. This could look like a group chat forum or a daily standup via video conference.

In our case, we’ve increased communications in our internal Slack channel with our demand generation team. This has allowed us to quickly relay event dates, share marketing lists, and communicate updates as events evolve.

Test Everything

Without onsite IT support or your typical office setup, prepping technology for a virtual event can be a daunting task. While testing our new platforms, we’ve found numerous issues that could have derailed our events if left undiscovered.

If your event involves external speakers, I cannot stress enough the importance of testing. Test the technology on your own first, and once you have a feel for it, loop in your internal colleagues to simulate the actual experience. Finally, invite your outside speakers for testing.

This might seem like a lot of testing for one event, but making sure everyone is comfortable with the technology will ensure everything runs smoothly on the day of the event.

Via Marketo blog

4 Ways Digital Marketers Can Make Data Work for Them

There’s no doubt that data is a marketer’s very best friend these days. According to Forbes, best-in-class marketers are 56% more likely to use data and analytics platforms and 64% of marketing executives see data-driven marketing as crucial to success in a globalized economy. But, as the importance of data in marketing has greatly increased, the line between art and science has blurred. Is marketing more of an art, or is it becoming a hard science?