Excellent as usually! The unexpected surprise is availability of most of the presentations right after the conference (actually before the last speakers concluded their presentations). Thanks to this wonderful organizational approach, I can use great quality screenshots for my own notes.
Joe, thank you for posting your keynote presentation and doing it so quickly – I am sure some of your points will find its way into countless PPTs of the conference attendees 😉 One of the best slides is the changing funnel (below).
Conference points that I found interesting:
- Recommendation to have a cross-functional data quality team. This team could maintain the data dictionary and take care of the data normalization process to assure that the purchased lists are normalized before they are loaded into Eloqua.
- Idea from the advocates reception: use “forwarded-looking” emails from sales when the white papers or webinars are “forwarded” by the rep to the contact. For one company it increased the open rate over 3 times.
- SLA between marketing and sales is different for each company – should the lead go to marketing when the lead has expired? Maybe 😉
- Book recommended “Emotional Branding” (though I am not sure when I can read everything I want to read… 😉 )
- Eloqua seem to create a responsive design email templates… I would love to learn more. So far our developers did not find a good approach. Also, it does not look like Eloqua has a report for who opens emails on which device – we can try Litmus when we ready. I am hoping I can learn more about email design suitable for mobile devices…
Very interesting: new DemandBase targeting method (I would call it “Evolved Remarketing” 😉 ) The new method allows to target only companies desired and offer different ads based on the company. For example, a prospect receives one ad, and the customer company receives another.
Traditional targeting is not that effective (though more effective as no targeting at all). Yes, I would love to try it!! I would love to try remarketing first (easier to do) – we will see how easy it will be 😉
- New measurement approach. About three years ago Eloqua rolled out 16 recommended measures (and probably all of us understood that it was excessive 😉 ). However, now Eloqua recommends only 4 (perfect!) “
- Reach (contact database size)
- Velocity (technically the length of the sales cycle)
- “One view of the truth” for sales and marketing
- Larry recommended to read Revenue Engine, which I still have not read.
- Subscription for Eloqua Chart of the Week – great resource! I particularly love the button – one more example in my library of “proper way” of using “submit” in any form 🙂
- I received a recommendation from fellow Eloqua user to check out http://www.salesbenchmarkindex.com/ as an organization that can have benchmark information on sales organizations in the same industry to counteract the general perception “oh, our industry does not use modern marketing…” what his organization did rather successfully.
- How to get sales to surrender their hidden lists and share them with marketing: one organization asked sales reps to send them photocopied business cards to minimize any work reps would need to do. Marketing hired a company to transcribe the cards and enter them into the database. First person to complete the task won the iPad. The company successfully extracted hundreds of contacts from sales “back pocket.”
- Sales organization success – if 50% of sales reps show up for marketing training, it is good! 🙂
Interesting approach – success measure of content is leads generated (I could not agree more! The “Awareness” is just so previous century when we could not measure anything 🙂 ).
Content should focus on how do you solve my problem.
Content is important at the top of the funnel.
“I don’t believe in social media marketing; I believe in content marketing where social media is just a channel.” Yes! Hooray!! Now I can quote it!!
Content is useful in three areas: email, search, social (and I can quote it too!! )
In general, I personally believe that potential of social media is overrated. I do not deny the new possibilities that social media presents, but I question their effectiveness compared to the older channels, such as email, search, retargeting, etc. I know that Eloqua was doing A/B test to see how social sign on compared with the plain old form. I have not heard about any results…
Social media effectiveness seem to be similar to pharmaceutical research – compared to placebo it works, but cheap previous generation medication is still more effective and has less side effects… and costs less. Still, we are infatuated with the new medication because it is new… Social media is similar – yes, it can be used as a tactic, but compared to other tactics in our arsenal, it is less effective and more costly for the goal of lead generation.
Social media has its place… but its importance is generally overrated… I think 😉
Modern Marketing (and word of mouth is great, but probably a little overstated 😉 )
- Understanding buyers
- Offer compelling content
- Leverage power of word of mouth
- Deliver right information to your sales channel
- Ensure your action drive results
- CMOs used to be brand builders; now CMOs are more analytically and tech savvy compared to other people of executive team
- CMOs believe that market and technology are two powerful forces (great!! finally! hopefully the days when CMOs were either terrified of technology or could not care less about the market are passé)
- Landscape is changing… Customer demographics is changing… Shift from markets to individuals.
- CMOs must be technology innovators
- ROI is no longer optional; ROI is top priority, but not all feel they can actually do it
- Interesting – the “home” of the marketing operations is still undetermined… 🙂 Eloqua pulled marketing operation organization to report to CMO – ability to scale. Previously marketing operation reported to demand gen.
“Getting back to Why” by Motorola
- Standardization and normalization are part of the crawl stage (very smart… it seems to be silly to try to produce more complex campaigns before simple ability to normalize a purchased list…)
- Lead scoring needs to be reviewed on regular basis
- Motorola did web site personalization based on their CMS and Eloqua… DemandBase has a solution – though it would require somewhat reasonable CMS
- Motorola experienced “content explosion” – no wonder everybody is hiring content writers 😉
- Lesson learned by Motorola – process. The system can automate the process, but the process needs to exist or be developed (what is a reoccurring theme in digital marketing during last several years).
The most inspiring part of the event was probably the keynote by Jeffrey W. Hayzlett – where we all were inspired to “lead the revolution” and not to limit our organizations’ potentials to the least common denominator. In modern marketing – it is very true! I shall read this book…
Wonderful conference – as usually. Hope to be there next year!
Relationship One – thank you very much for a wonderful dinner for everybody who was able to attend the conference from our organization!