Eloqua Experience 2010 was my first in-depth conference specifically concentrated on marketing automation. It was very exciting and spectacularly useful event. Most interesting points from the conference:
Campaign Management Essentials:
- “Automation in Moderation” – even if ability to automate marketing activities is growing, we should try to automate only what makes sense
- Campaigns channels audit (maybe quarterly?) – marketing environment changes so fast that it makes sense to review available channels regularly
- Careful approach to offers (particularly if you as a marketer is not a member of the target audience)
- Content audit needs to be made based on buying cycle – then other details need to be overlayed
- Campaign execution: focus on things you can control 😉
- “Vanity Metrics” and “Vanity Campaigns” (could be vanity nurturing campaigns) should be avoided – Vanity Campaigns or metrics not tied to business goals
- Plan B is needed for nurturing programs: “if the person is not engaging, then…”
- Take industry surveys on usage of marketing tactics, etc. with a grain of salt: what an average marketer is doing is not necessarily what we should be doing.
- Don’t take risks in the areas where the data is not clean..
- Testing resources: http://whichtestwon.com/ and http://www.marketingexperiments.com/
RPM – Revenue Performance Management
Revenue Performance Management is an approach of taking into the consideration the entire funnel (including the top part of the funnel), measuring it consistently from sales and marketing perspective, and focusing marketing efforts in the most beneficial areas.
Eloqua CEO explains the concept in a 4-minute video.
– Focus on the entire funnel
– Be consistent. Use a framework (measure the same things)
Eloqua attempted to create GAAP for sales and marketing in the reporting area – C-suite 16 – 16 reports consistent throughout industries that every CEO should review every quarter (one view of the truth). I am curious to see these reports and wondering if 16 would be too many reports for an executive dashboard in general… 😉
Eloqua customers are in the next book…
Most interesting idea (from my perspective 😉 ) is to move from the concept of “social media marketing” to the concept of “real time marketing” – what would be a more accurate and value-oriented definition of the same concept.
The most important opportunity of “Real Time Marketing” is to identify potential opportunities and take advantage of them instantaneously.
– appoint real time officer
– implement real-time systems
GAP logo debacle was exploited by http://craplogo.me/ – the company created a simple web site that allowed everybody to “create” similar logo and even use it quickly as Twitter avatar.
Real time mind set: Wynn hotels banned Paris Hilton from the hotel after she was in the press in an unfavorable light, what created additional publicity for the hotel. Wynn hotel is also mentioned in UnMarketing by Scott Stratten.
United breaks guitars: the “herro” of the story recognized that it was his moment and made himself completely available for the media.
The guitar producer also took advantage of the opportunity to promote its brand.
A guitar case company also unveiled a brand of cases branded by the moment.
United did not respond… 😉
B-to-b example: Orackle acquired market2lead, and little information was available about the event. Eloqua immediately produced a blog post related to the topic, which was picked up widely by the media.
The media is operating in real time – you must too.
Interesting Eloqua Customers experiences:
- Automation allowed one customer to increase numbers of webinars – there was no need to manually set emails – just change speaker/city.
- Webinars registrations increase when the invite comes from the person rather than general company invite
- European webinars attendance is higher than US
- B-to-B social media – sense of humor is helpful in a dry industry.
Magic “cutting of the cable” and explanation how the server cable was cut. The YouTube video was promoted through different channels; the result: 25,000 views 400 suspects in the nurturing program. Isilon.com has a robust YouTube channel and uses http://www.optify.net/ – social media reporting tool, which allows to run social media as a campaign
Cloud computing concepts:
Cloud 1: low cost, easy
Cloud 2: collaboration, real time, mobile
Interesting concept – shift to agile marketing (similar to agile software development)
Interesting: gating content produces more leads – un-gate content in new product areas… Future is partially gated content (one minute free, then)
Video? “Single most important thing we have done…” What is the next best thing after a live event? More people are willing to fill out the form after viewing the video – video will continue to be used more and more.
Each marketing team has its own measurement
Marketing – art and science – Polycom
- Importance of roles and responsibilities
- Sales and marketing alignment is critical
- Constantly demonstrate your value and demonstrate it measure things that you can measure
- Leverage best practices
- Hire the best people
- Infrastructure investment coupled with process improvements (process change is as important – without changing of the process infrastructure alone would not be beneficial)
Campaign dashboard is much more detailed:
Polycome concentrated on people, process, and systems
- Has to be able to scale
- Need to be flexible (no more annual plan)
- Ability to measure influence
- Track channel partners
- Share marketing assets with channel partners
- Easy to use Tools for marketing professionals
How people think about the technology…
Marshmallow challenge – worst are recent business school graduates, who are trained to devise a plan and execute it; one of the best are recent graduates of kindergarten who run through series of prototypes.
How to avoid jumping to execution of the first idea? Transform ideas into pictures…
Shoe company personas
Impossible > impractical > possible > expected > required
Innovation fundamentals (below)
Email is not enough
What was interesting: purchasing a list and validating it; sending FedEx package with personal URL with a specific landing page based on company’s characteristics. FedEx would not be unnoticed, plus, an email informing about the WebEx and a phone call informing about the WebEx a little later (Eloqua has a call on demand option – 15c per call). Email > phone > PURL > if appointment is set, the executive receives Flip camera >> with the goal of setting an appointment. Campaign was successful (and seems quite reasonable to replicate 😉 ).
Lessons from this campaign and similar campaigns:
- Company’s characteristics “Don’t send Apple a Droid”
- Company’s characteristics – a large empty box with a tiny cord was sent to a environmentally sensitive company. The company was furious and expressed its dissatisfaction to the rep… the rep still thought it was “brilliant” – he did get the appointment… 😉
- It is better not to send the “gift” right away – in a different campaign the company would send a cord, and noted that the device itself would be coming at the appointment
PURLs best practices
– put prospect first
– quantify your value prop
– use third party validation
– make it relevant to their industry
– obvious call to action
Great conference! Great food (yes, it is important for marketing automation, digital marketing, and everything interactive. Snack of fruits on the stick was my absolutely favorite 🙂
The conference was held at a wonderful location; below is the view from my room window.