Rethinking Marketing: New Roles, Responsibilities and Reports

Rethinking Marketing: New Roles, Responsibilities and Reports

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  #C2C16 Rethinking Marketing: New Roles, Responsibilities and Reports Christine Nurnberger, CMO, BottomlineTechnologies
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  What is aRevenue Marketing Engine? 2
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  Data-driven approach to marketinginvestment and prioritization Ability to measure, optimize, and adjust quickly to continually drive improvements in program effectiveness Closed-loop reporting and transparency throughout the opportunity lifecycle 100% alignment with revenue performance objectives Marketing carries a quota for direct contribution to pipeline and revenue What is a Revenue Marketing Engine? 3
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  Area Key ActionsTo Date Benefits Planning • Build Organization • Execute Marketing Summit & Plan • Establish spend management and optimization • Introduce BT-level Marketing • Coach and develop team • Alignment on priorities and specific, tangible goals • Focus and increased quality of work product • Happy people • Shift from activity to results Managing Execution • Continued BAU & previously committed activity • Tools for operational scale, data improvement, data mining, and measurable processes • Ongoing real-time optimization • Data driven changes • Increased leverage per staff and $ Changes & Issues Mgmt • Plans & Scorecard • Assigned Sponsors • Accountability • Escalation Point Building Blocks for Success people process tools • Demonstrate disciplined Marketing execution • Data driven feedback & optimization 4
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  Marketing - Timeline LaunchingGlobal Marketing FY 2016 Initiatives FY 2016 Alignment & Planning Infrastructure Development, Learning & Intellinx July April - June January - March Assessing & Building the Foundation September - December 2015 • Build the Marketing organization • Establish spend management and optimization • Coach and developing the team • Building tools for operational scale, data improvement, data mining, and measurable processes • Continued BAU & previously committed activity • Intellinx combination efforts • Leveraging learnings from previous BAU activities to inform foundation of FY2016 efforts • Aligned on budget and business priorities to establish Marketing objectives and key plays • Focus on raising BT level awareness, global launches of key products, gaining global efficiency, executing Top ROI key plays that will drive Sales plans 5
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  Solution Marketing Marketing Operations& Shared Services Digital/Inbound Programs/Outbound Building a Revenue Marketing Engine Communications Tele-qualification Key Design Principles • Align skillsets with centers of excellence vs. expecting each person to be successfulin all roles • Centralize support for cross- LOB functions – Strategy, Digital, Comms, and Shared Services – to gain efficiencies and scale • Keep close ties to the LOB by created dedicated support/alignment between the LOB, Solution Marketing, and Marketing Programs Prioritization of marketing efforts based on opportunity and resources Bridge between SME and GTM deliverables, content direction/creation, marketing LOB SME Execution Channels Processes, technology, best practices, analytics, data mgmt, events, writing Indicates direct alignment to LOB Marketing Strategy
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  • Who areour evaluators, influencers, and decision makers? • What keeps them up at night? • When, where and how do they educate themselves? • Who do they listen to and respect? Making the Magic Happen – Buyer Centric Marketing 7
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  Cross LoB ContentMapAssessment Aprox. 265 total content assets cross ~20% are “demand generating” (we can reasonably require registration to obtain) • ex. white papers, webinars, sponsored reports) ~20% are targeted at the “discovery stage” where we seek to: • engage prospects in a topic/ conversation • loosen their status quo and get them committed to the idea of change • The remaining ~80% are very technical 8
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  Aligning to theBuying Cycle Buyer’s KnowledgeNeeds Consideration DecisionDiscovery 1 Your solution applies to our need. Presentations to Business Owner In-Person Demos Case Studies Internal Blogs 3 Your solution will have the greatest impact on our business. Trials Proofs of Concept Competitive Tools SME Access Executive Briefings Committing to a Solution 4 The business case is justified internally. ROI Tools Client References Proposals Presentation to Financial Owner Justifying the Decision 5 We are confident and ready to move forward. Welcome Kit Orientation Training Customer Newsletter Making the Selection 6 Committing to Change 2 We might have a problem, or we are conceiving a vision. Articles Social Media Newsletters White Papers Blogs Loosening of the Status Quo Exploring Possible Solutions We understand the problem and how it connects to our business. Events/Webinars Web Site/SEO Test Drives Analyst Reports Product Collateral Value Story Solution Validation Financial Justification OnboardingThought Leadership Solution Knowledge 9
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  Creative Services –Scaling to Meet Demand High Volume ~500+ / year No Lead Time Heavy Internal Focus Difficult to Track Resources Hard to Prioritize LoB requests Supplement with outside specialists to prevent bottlenecks Communicate new standards to help with planning Structure internal allocations so we can focus on driving sales Implement a new PM system so timelines are predictable Give LoBs visibility to ensure proper priorities are set 10
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  Marketing Programs 2HPlan Summary Timeline Jan Feb Mar Apr May Jun Retail Tier I ServicesMfg Ongoing follow-up to inquiries from nurture email & webinars Edu Sector Ongoing follow-up to inquiries from prospecting email, webinars, and content syndication Mfg Energy & Utility H/C & Pub Sec CP & FM eMedia Program Liquidity Mgmt Is Your Tech Aligned to Your Needs Prospecting Email T&R “Align Your Treasury Tech Fraud & Fin Msg’g Event/ Tradeshow NBFI (Tentative)Webinar* Tele- Program Responders CIE Follow-up Tele-Prospecting CONSIDERATION Case Study1 BattlecardSales Enablement ADVOCACY CIE Invite The Need for Speed Ensure Tech Meets Needs Data SheetPitch Deck DECISION Tele- Program Responders CIE Invite Webinar* NBFI (TentativeFraud & Fin Msg’gLiquidity Mgmt Fin Messaging Customer Email Webinar invites & follow-up Best Practices for Tech Mgmt CIE InviteCustomer Email Customer Insights Exchange Event (NYC) recurrence recurrenceDisplay Ads Content Syndication DISCOVERY Fin Messaging *Each webinar preceded by multiple email invitations and post webinar follow up ILLUSTRATIVE EXAMPLE 11
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  Phase 1 Scorecard– Activity Based Q3 Commits Status Summary 1. Core Content Creation • Thought Leadership • Infographics (1x) • Video (1x) • Case Study (3x) • Datasheet (1x) Tracking Positive. All commits delivered (link here) • Next Quarter: work has begun • Potential issue: critical internal SME has competing commits 2. Discovery – New Logo • Display Ads (2x) • Content Syndication (1Mos) • Prospecting Emails (4x) • Webinars (1x) • Tele-Prospecting (2 targeted campaigns) Seeing positive response rates from all activities Syndication out performing benchmark • Next Quarter: will shift more into Syndication • Potential Issues: waiting on SOW approval 3. Consideration • Prospecting Emails (2x) • Webinars (1x) • Tele-Program Responders (ongoing) Tele reports calls to responders performing better than cold calls. Webinar drop off– pot. audience topic misalignment • Next Quarter: on track so far • Potential Issues: none 4. Decision • Sales Enablement Content (4x) Great feedback from Sales team • Next Quarter: on track so far • Potential Issues: none 5. Advocacy • CIE event (1x) • Customer Newsletter (3x) CIE was fantastic. Challenges wrangling all customer comms. • Next Quarter: on track so far • Potential Issues: customer tune-out b/c too much comms ILLUSTRATIVE EXAMPLE 12
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  Aligning Performance withRevenue Assumes adequate market opportunity of buyers seeking new/ replacement solution Multiple factors to be considered in more robust model include: ü Buyer maturity with solution: new buyer to category, replacement buyer ü Relationship status: existing customer cross sell/upsell, or new logo acquisition ü Deal size and buying group complexity Annual Program Budget 250,000 Current Optimized Cost Per Qualified Sales Lead 5,600 2,000 Number of QSLs 45 125 Pipelie Conversion Metrics Sales Acceptance Rate 52% Sales Close Rate 29% Number of Opportunities 23 65 Number of New Customers 7 19 Average Deal Size 80,000 Current Optimized Marketing Contribution 538,571 1,508,000 Bookings Target 2,000,000 2,000,000 Bookings Gap 1,461,429 492,000 Click into table to change assumptions (in blue) 13
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  Business Planning Resource Allocation CampaignLaunch Ongoing Optimization Closed-Loop Reporting (tied to revenue) Sales Planning Marketing Planning What is a Key Play? Key Plays 14
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  Business Planning • $addressable & serviceable market • # of firms in target segments, e.g., indust/ size • % market adopted • 5yr market CAGR • Differentiating capabilities • GTM & functional plans Resource Allocation • $ Customer life time value • $ Customer acquisition cost • # Sales cycle time • $ FTEs & roles, Program spend Campaign Launch • Byline Articles, Thought Leadership • E-mail Content/ Campaigns • Webinars, Awareness, Tradeshows • Digital Marketing à Leads Routed to Sales Ongoing Optimization Closed-Loop Reporting • # of Byline Articles • # Views (BT Content) • # of Leads Generated • # of Marketing Qualified Opportunities • $ Revenue Sales Planning • $ SaaS & on-premise • $ new logo, install, new buying center • % by territory, field, SAM, inside • $ from Partners & other RTM Marketing Planning • Marketing Objectives, KPI, CSF • Buyers, messages, • Outlets, content syndication, • Market response measurement Aspects of Key Play Approach Key Plays 15
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  Fast forward 10months… 16
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  What does thismean for the business? 17 Content & Thought Leadership Qualification via Tele Inbound Inquiries Contribution to Pipeline Marketing Programs drives awareness & demand via inbound & outbound campaigns Inquiries are passed to Tele or Sales for follow-up Inquiries remain in continuous nurture cycle by Marketing Programs until Opportunity reached Cycle starts again… 73% Conversion rate from Marketing programs 65+ Number of assets created in Q2 8,455 Inquiries in Q2 globally 74% Accepted opportunity rate
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  Global Marketing KPIs Website PageViews +16% Highest quality lead source converts to Opps faster Outbound Email Touches + 134% Driving ongoing awareness into target markets Email Open Rates +23% Increased engagement means more leads Inbound/ Inquiry Passed to Tele* +41% Leads convert to Opps quicker % Dead - 37% Less time wasted on incorrect targets MQL Conversion Rates* 3% Cold Call 73% Marketing Program Faster and more qualified thru-put Opps Generated +35% Sales stays focused on closing deals Time to Add $ to Oppty* +43% Improved trust & faster gains in pipeline Avg. Deal Size $ Mktg. Programs vs. Cold Calls* +56% Driving greater value and pipeline to Sales *Represents NA Only view Marketing by the #’s
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  Consistent, Clear Communication 19
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  1. Marketing Automation 2.Creativity is not dead 3. Think business first, marketing second 20 In summary
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  Thank You! Learn MoreOnline: http://www.bottomline.com For more information, please contact:
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  Questions?
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  #C2C16