Marketing Automation Software

1. Marketing Automation Software MARKETING AUTOMATION SOFTWARE HOW-TO GUIDE

2. 2 Marketing Automation Software How-to Guide Marketing automation refers to software platforms that replace high-touch, repetitive manual processes, like email marketing, with automated solutions. Across many Industry research studies, marketers report an increase in the following key outcomes as a result of implementing marketing automation: With revenues for business-to-business (B2B) marketing automation systems closing in on $525 million this year, selecting the best vendor for your business in this growing market is a critical task. Lack of attention to detail during the selection process can waste time and resources during implementation and produce a sub-optimal outcome. Therefore, a disciplined selection process is essential to ensure that your marketing automation project starts off on the right foot. This How-To Guide outlines Raab Associates’ methodology for selecting a marketing automation vendor, and it provides a set of tools that you can use to ensure that the vendor selection process goes smoothly. HOW-TO GUIDE Total Marketing Revenue Contribution Lead to Closed Sale Conversion Percentage Quality of Leads Passed to Sales Revenue Per Sale Percent of Leads Accepted by Sales Quantity of Leads Generated Marketing Automation Software Fully developed marketing automation systems provide information across all phases of the marketing process, including: Demand Generation Lead Management Lead Scoring Lead Nurturing Lead Generation Campaign Analysis Lead Qualification Sales Effectiveness Benefits of Marketing Automation 2 Marketing Automation Software How-to Guide Marketing automation refers to software platforms that replace high-touch, repetitive manual processes, like email marketing, with automated solutions. Across many Industry research studies, marketers report an increase in the following key outcomes as a result of implementing marketing automation: With revenues for business-to-business (B2B) marketing automation systems closing in on $525 million this year, selecting the best vendor for your business in this growing market is a critical task. Lack of attention to detail during the selection process can waste time and resources during implementation and produce a sub-optimal outcome. Therefore, a disciplined selection process is essential to ensure that your marketing automation project starts off on the right foot. This How-To Guide outlines Raab Associates’ methodology for selecting a marketing automation vendor, and it provides a set of tools that you can use to ensure that the vendor selection process goes smoothly. HOW-TO GUIDE Total Marketing Revenue Contribution Lead to Closed Sale Conversion Percentage Quality of Leads Passed to Sales Revenue Per Sale Percent of Leads Accepted by Sales Quantity of Leads Generated Marketing Automation Software Fully developed marketing automation systems provide information across all phases of the marketing process, including: Demand Generation Lead Management Lead Scoring Lead Nurturing Lead Generation Campaign Analysis Lead Qualification Sales Effectiveness Benefits of Marketing Automation

3. 3 Marketing Automation Software How-to Guide HOW-TO GUIDE Marketing Automation Software Implementing an integrated marketing automation infrastructure composed of skilled people, automated processes, and integrated technology provides numerous benefits, including: Marketing automation systems make marketers more effective. For B2B marketers, the systems support the primary marketing department activities of generating leads, nurturing them, and transferring qualified leads to sales. Increased Win Rates: leads that are scored and nurtured before being handed off to sales close at higher win rates because purchasing and sales cycles are more aligned. Alignment of Sales and Marketing: alignment occurs when sales and marketing can agree on the definition of a qualified lead; systems are integrated to provide visibility into activities and results; and the loop is closed between lead source and revenue generated. Reduced Cost per Lead: when key marketing processes such as lead scoring, lead nurturing, and lead assignment are automated, fewer resources are required to manage new opportunities. Addi- tionally, the use of a web/email-based approach can drastically reduce acquisition costs for new prospects and opportunities. Improved Accountability and Credibility: marketing leaders can provide accountability for their spending once they are able to quantify the impact of their investments. When deployed properly, Marketing Automation solutions increase credibility by providing a system of record that tracks and measures marketing activities and associated business results. Better Allocation of Resources: having detailed analytics on prospect behaviors and campaign ROI provides marketers with the insight needed to optimize spending on the most profitable marketing programs. 3 Marketing Automation Software How-to Guide HOW-TO GUIDE Marketing Automation Software Implementing an integrated marketing automation infrastructure composed of skilled people, automated processes, and integrated technology provides numerous benefits, including: Marketing automation systems make marketers more effective. For B2B marketers, the systems support the primary marketing department activities of generating leads, nurturing them, and transferring qualified leads to sales. Increased Win Rates: leads that are scored and nurtured before being handed off to sales close at higher win rates because purchasing and sales cycles are more aligned. Alignment of Sales and Marketing: alignment occurs when sales and marketing can agree on the definition of a qualified lead; systems are integrated to provide visibility into activities and results; and the loop is closed between lead source and revenue generated. Reduced Cost per Lead: when key marketing processes such as lead scoring, lead nurturing, and lead assignment are automated, fewer resources are required to manage new opportunities. Addi- tionally, the use of a web/email-based approach can drastically reduce acquisition costs for new prospects and opportunities. Improved Accountability and Credibility: marketing leaders can provide accountability for their spending once they are able to quantify the impact of their investments. When deployed properly, Marketing Automation solutions increase credibility by providing a system of record that tracks and measures marketing activities and associated business results. Better Allocation of Resources: having detailed analytics on prospect behaviors and campaign ROI provides marketers with the insight needed to optimize spending on the most profitable marketing programs.

4. 4 Marketing Automation Software How-to Guide HOW-TO GUIDE Marketing Automation Software If you’re serious about marketing automation, Demand Metric encourages you to use the Marketing Automation Vendor Evaluation during the vendor selection process for the following reasons: Once you’ve identified the leaders in your category, you can dig deeper by reading vendor profiles that describe each product’s strengths, weaknesses and special features. This lets you move beyond generic rankings to find systems with the precise features you need. The profiles also offer basic information on pricing, company size, and installation count by client type. If you have any question about the Marketing Automation Vendor Evaluation or about marketing automation in general, feel free to click here and book a call with an Analyst. It is combined with background information on how marketing automation systems are used; industry size, history and trends, related systems that compete with or complement marketing auto- mation products; and tips for system selection and successful deployment. It provides detailed information on individual vendors, including scores that measure each prod- uct’s sustainability for different kinds of buyers. It draws on nearly 200 data points for 22 B2B marketing automation vendors that show which vendors are most suitable for small, mid-size and large organizations. Results of the assessment are displayed on easy-to-understand charts that make it simple to see which products are best suited to the different situations. Bottom Line 4 Marketing Automation Software How-to Guide HOW-TO GUIDE Marketing Automation Software If you’re serious about marketing automation, Demand Metric encourages you to use the Marketing Automation Vendor Evaluation during the vendor selection process for the following reasons: Once you’ve identified the leaders in your category, you can dig deeper by reading vendor profiles that describe each product’s strengths, weaknesses and special features. This lets you move beyond generic rankings to find systems with the precise features you need. The profiles also offer basic information on pricing, company size, and installation count by client type. If you have any question about the Marketing Automation Vendor Evaluation or about marketing automation in general, feel free to click here and book a call with an Analyst. It is combined with background information on how marketing automation systems are used; industry size, history and trends, related systems that compete with or complement marketing auto- mation products; and tips for system selection and successful deployment. It provides detailed information on individual vendors, including scores that measure each prod- uct’s sustainability for different kinds of buyers. It draws on nearly 200 data points for 22 B2B marketing automation vendors that show which vendors are most suitable for small, mid-size and large organizations. Results of the assessment are displayed on easy-to-understand charts that make it simple to see which products are best suited to the different situations. Bottom Line

5. 5 Marketing Automation Software How-to Guide Use Demand Metric’s Marketing Automation Business Case document to get approval for your marketing automation project, and share your goals and objectives with the rest of your team. If you want to measure the overall financial impact that marketing automation can have on your business use our Marketing Automation ROI Calculator. Action Plan STEP 1 - Define Requirements 1 3 Define Requirements Test Vendors Against Scenarios Create a list of your goals in buying the system. Relate these to financial values when possible. Then define how you’ll use the system to meet these goals, being as specific as you can about the actual processes involved. Be sure to include processes beyond what you do already; one of the reasons you should consider marketing automation is to expand what your department can accomplish. Your requirements are based on the tasks you must perform to meet your goals 7 Invest in Deployment Make a Decision Talk to References 2 Research your Options Consider a Trial 8 5 4 6 Define Goals with a Marketing Automation Business Case Improve Internal Marketing Processes 5 Marketing Automation Software How-to Guide Use Demand Metric’s Marketing Automation Business Case document to get approval for your marketing automation project, and share your goals and objectives with the rest of your team. If you want to measure the overall financial impact that marketing automation can have on your business use our Marketing Automation ROI Calculator. Action Plan STEP 1 - Define Requirements 1 3 Define Requirements Test Vendors Against Scenarios Create a list of your goals in buying the system. Relate these to financial values when possible. Then define how you’ll use the system to meet these goals, being as specific as you can about the actual processes involved. Be sure to include processes beyond what you do already; one of the reasons you should consider marketing automation is to expand what your department can accomplish. Your requirements are based on the tasks you must perform to meet your goals 7 Invest in Deployment Make a Decision Talk to References 2 Research your Options Consider a Trial 8 5 4 6 Define Goals with a Marketing Automation Business Case Improve Internal Marketing Processes

6. 6 Marketing Automation Software How-to Guide Action Plan STEP 2 - Research your Options 1 2 Define Requirements Research your Options 3 7 8 5 4 6 Keep in mind that company size alone doesn’t necessarily predict the depth of your require- ments; small companies can run complex marketing programs, and large company programs may be simple. Test Vendors Against Scenarios Make a Decision Invest in Deployment Talk to References Consider a Trial Find Vendors with a Marketing Automation Vendors Matrix Demand Metric’s Marketing Automation Vendors Matrix provides a good starting point for matching possible vendors to your requirements. For a more detailed analysis use the Raab Associates’ Vendor Selection Tool to match the scale and sophistication of your marketing operations to the different buyer segments used in the report. V I E W R E S O U R C E Marketing Automation Vendors Matrix Improve Internal Marketing Processes 6 Marketing Automation Software How-to Guide Action Plan STEP 2 - Research your Options 1 2 Define Requirements Research your Options 3 7 8 5 4 6 Keep in mind that company size alone doesn’t necessarily predict the depth of your require- ments; small companies can run complex marketing programs, and large company programs may be simple. Test Vendors Against Scenarios Make a Decision Invest in Deployment Talk to References Consider a Trial Find Vendors with a Marketing Automation Vendors Matrix Demand Metric’s Marketing Automation Vendors Matrix provides a good starting point for matching possible vendors to your requirements. For a more detailed analysis use the Raab Associates’ Vendor Selection Tool to match the scale and sophistication of your marketing operations to the different buyer segments used in the report. V I E W R E S O U R C E Marketing Automation Vendors Matrix Improve Internal Marketing Processes

7. 7 Marketing Automation Software How-to Guide Action Plan STEP 3 - Test Vendors Against Scenarios Develop scenarios that describe actual marketing projects you expect to run through the system, and have the most promising vendors demonstrate how they would execute them. Scenarios based on your own needs are critical for understanding how well each system will function in your environment. Be sure that some scenarios describe your more complicated processes, since these are most likely to highlight differences among systems. If vendor staff executes the scenarios for you, make sure to understand how much the vendor built in advance. This ensures that you get an accurate sense of the total work effort involved. 3 Test Vendors Against Scenarios 1 7 2 8 5 4 6 Define Requirements Make a Decision Invest in Deployment Talk to References Research your Options Consider a Trial Request Vendor Tests with Clear Visibility of the Work V I E W R E S O U R C E Marketing Automation Vendors Matrix Improve Internal Marketing Processes 7 Marketing Automation Software How-to Guide Action Plan STEP 3 - Test Vendors Against Scenarios Develop scenarios that describe actual marketing projects you expect to run through the system, and have the most promising vendors demonstrate how they would execute them. Scenarios based on your own needs are critical for understanding how well each system will function in your environment. Be sure that some scenarios describe your more complicated processes, since these are most likely to highlight differences among systems. If vendor staff executes the scenarios for you, make sure to understand how much the vendor built in advance. This ensures that you get an accurate sense of the total work effort involved. 3 Test Vendors Against Scenarios 1 7 2 8 5 4 6 Define Requirements Make a Decision Invest in Deployment Talk to References Research your Options Consider a Trial Request Vendor Tests with Clear Visibility of the Work V I E W R E S O U R C E Marketing Automation Vendors Matrix Improve Internal Marketing Processes

8. 8 Marketing Automation Software How-to Guide Action Plan STEP 4 - Talk to References 4 Talk to References 1 3 7 2 8 5 6 This is an often overlooked source of insight. The question isn’t whether the references are happy, but whether your situations are similar enough that you’re likely to be happy as well. Find out whether the reference is using the system functions you care about, how long they took to get started, the amount of training and process change required, what problems they had, and how the vendor responded. Define Requirements Test Vendors Against Scenarios Make a Decision Invest in Deployment Research your Options Consider a Trial Request Reference Feed- back to Determine A Vendor Match Improve Internal Marketing Processes 8 Marketing Automation Software How-to Guide Action Plan STEP 4 - Talk to References 4 Talk to References 1 3 7 2 8 5 6 This is an often overlooked source of insight. The question isn’t whether the references are happy, but whether your situations are similar enough that you’re likely to be happy as well. Find out whether the reference is using the system functions you care about, how long they took to get started, the amount of training and process change required, what problems they had, and how the vendor responded. Define Requirements Test Vendors Against Scenarios Make a Decision Invest in Deployment Research your Options Consider a Trial Request Reference Feed- back to Determine A Vendor Match Improve Internal Marketing Processes

9. 9 Marketing Automation Software How-to Guide Action Plan STEP 5 - Consider a Trial Nearly all marketing automation vendors will let you try their system for a limited period. Trials are a great way to learn what it’s really like to use a system, but only if they are managed effectively. This means you need to invest in training and then setting up and executing actual projects. As with scenario demonstrations, you may still rely on the vendor to handle some of the more demanding aspects of the project, but, again, make sure you know how hard it will eventu- ally be to do it yourself. 5 Consider a Trial 1 3 7 2 8 4 6 Define Requirements Test Vendors Against Scenarios Invest In Deployment Make a Decision Talk To References Research Your Options Test Out the Vendor for A Trial Period Improve Internal Marketing Processes 9 Marketing Automation Software How-to Guide Action Plan STEP 5 - Consider a Trial Nearly all marketing automation vendors will let you try their system for a limited period. Trials are a great way to learn what it’s really like to use a system, but only if they are managed effectively. This means you need to invest in training and then setting up and executing actual projects. As with scenario demonstrations, you may still rely on the vendor to handle some of the more demanding aspects of the project, but, again, make sure you know how hard it will eventu- ally be to do it yourself. 5 Consider a Trial 1 3 7 2 8 4 6 Define Requirements Test Vendors Against Scenarios Invest In Deployment Make a Decision Talk To References Research Your Options Test Out the Vendor for A Trial Period Improve Internal Marketing Processes

10. . 10 Marketing Automation Software How-to Guide Action Plan STEP 6 - Make a Decision 6 Make a Decision 1 3 7 2 8 5 4 Don’t let the selection process drag on. Selec- tion is a means to an end, not a goal in itself. Unless you have very specialized needs, there are probably several marketing auto- mation systems that will meet your require- ments. Once you’ve found one that you are confident with, go ahead and buy it. Then you can start on what’s really important: better marketing results. Define Requirements Test Vendors Against Scenarios Invest in Deployment Talk to References Research your Options Consider a Trial Choose Your Vendor with the Vendor Evaluation Tool Use Demand Metric’s Marketing Automation Vendor Evaluation Tool to show due diligence by conducting an apples-to-apples comparison of your top three vendors. V I E W R E S O U R C E Marketing Automation Vendor Evaluation Tool Improve Internal Marketing Processes

11. . 11 Marketing Automation Software How-to Guide Action Plan STEP 7 - Invest in Deployment Marketing automation systems allow major improvements in marketing results, but those improvements require more than just a new system 7 Invest in Deployment 1 3 2 8 5 4 6 Define Requirements Test Vendors Against Scenarios Make a Decision Talk to References Research your Options Consider a Trial Improve Internal Marketing Processes Understand Buying Process Stages with These Templates If you don’t already have a formal description of the stages that prospects move through to become buyers, use Demand Metric’s Buying Process Stage Template and Buyer Persona Template to document buying stages and seller actions for each of your fictional buyer personas' main points. Invest in the staff training and content to execute those programs successfully. V I E W R E S O U R C E Buying Process Stage Template

12. . 12 Marketing Automation Software How-to Guide Action Plan STEP 8 - Improve Internal Marketing Processes 8 Improve Internal Marketing Processes 3 7 2 5 4 6 1 Document and improve internal marketing processes. Work closely with sales to define lead scoring rules, handoff mechanisms and service levels, and ways to capture results. Define Requirements Test Vendors Against Scenarios Make a Decision Invest in Deployment Talk to References Research your Options Consider a Trial The Lead Tools Assist You in Achieving Qualified Leads Use Demand Metric’s Qualified Lead Definition Template to achieve alignment on the definition of a qualified lead, and the Service Level Agreement Template to define the level of service that you will provide. Build measurement systems and use them to hold marketers at every level of the department responsible for results they control. Bring in outside resources, such as agencies and consultants, when you lack the internal expertise or time to do the work in-house. V I E W R E S O U R C E Qualified Lead Definition Tool

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