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13 Posts authored by: Janet Dulsky Employee

By Phillip Wild, original discussion can be found here.

 

Marketo’s Engagement Programs can do some extremely useful things for the marketer. What was once a series of complicated user journeys can now be distilled into an email drip campaign (called “casts”) based on a cadence you specify.

However, the built-in functionality has one flaw for how we run things at G Adventures:

 

If you use sub-programs, and a person doesn’t get sent the email via a smart campaign when the cast goes out, the system will stop there and won’t check the next program.

 

Effectively, when a person enters a sub-program within an engagement program, and triggers a smart campaign, regardless of whether they qualify or not, Marketo will stop. It won't check the next one. Great behaviour in some cases, but not for what we are trying to do at our business.

 

Let’s illustrate this with an example. Let’s say we have the following structure in an engagement program.

 

 

You can see that we have three streams — based on the time zone of the sends — that are otherwise identical. Within the streams, we have a series of 8 emails.

 

This structure is designed to give a person in this program one email a week on a Tuesday. It’s a group of our most engaged leads, so we are trying to send them the most appropriate content in order to get them to make that last step and book a tour. Each of these emails has an additional set of criteria beyond simply being a member of the engagement program (we don’t want to send our Active tour content to those who habitually book our polar expeditions, for example). So whenever the engagement program “casts” out a send, the default behaviour is:

 

  1. Check membership of the top program (basically, whether they have received the email previously). If a member, then start this process again, but from the next program down.
  2. If not a member, then check criteria for the send. If criteria passes, send the email. If it doesn’t pass, do nothing.

So that’s great if the user has already received the first email (defined in Marketo-speak as “is a member of the first program”). But if they haven’t, and they don’t qualify for the send, then…and this is the important bit…Marketo won’t check whether they qualify for the next program immediately, but will instead do nothing for that cast and will wait until the next occurrence. So in our situations of 8 programs above, top to bottom, each with narrowly defined criteria, then with a weekly cadence of sends:

  1. If you qualify for emails 1,6 and 7, you would receive an email the first week, nothing for 5 weeks, then emails 6 and 7, finishing with nothing in the last week.
  2. If you qualify for emails 2,3 and 4, you would receive nothing the first week, then an email a week for the next three weeks, then nothing for the remaining 4 weeks.

This clearly isn’t great for what we are trying to do here. We are trying to motivate this highly interested group of people to book, so for them to go several weeks without receiving what would be a highly effective piece of communication is very sub-optimal.


So how can we get around this? One way would be to use emails instead of sub-programs in the engagement program above — but you can’t have additional criteria on an email cast. The email would go out to everyone. That’s not going to work given how targeted these communications are. Not an option. The solution is to use how Marketo defines membership to “skip” non-qualifying emails. (A shout out to Roxanne McGlumphy at Marketo first off for showing us this little-known hack. It’s been incredibly useful for us).You might have noticed from the explanation above that Marketo first checks for “membership” of a sub-program before it even looks into the criteria for sending. If a person is already a “member”, Marketo decides that it must have already received that send, and moves on to the next one — immediately! So if you set membership of a program for those that you DON’T want to receive it, Marketo will skip them through to the next program, and so on until it finds something they are not a member of, or until we run out of content.


To build this in practice, here’s what we did and the thought process behind it:

  • Our deployments trigger from around 2:00am — 6:00pm EST Tuesdays. So membership of sub-programs would need to change before then.
  • We also need to change membership back for those who didn’t end up receiving the email. Otherwise, if they stay as a member of the sub-program forever, they will never be able to receive the send, regardless of whether they qualify or not.

Extrapolating upon this, let’s say our criteria for the first sub-program, “Non Inca Trail Peru”, is something like this. You will receive it if:

  • You’re an email subscriber; AND
  • You’ve never received that email before; AND
  • You are interested in Peru.

So if we want to ensure that those that shouldn’t receive it will be “skipped”, and could potentially receive the next email immediately, then we need a smart campaign to run each Monday night with the following criteria:

  • You’re not an email subscriber; OR
  • You’ve received that email before; OR
  • You’re not interested in Peru.

For anyone who qualifies for that smart campaign, you want to use this flow step: By changing their Program Status of the sub-program to be “Sent” you are making them a member of that program, and ensuring they will be skipped in the next cast. Marketo thinks they have already received it.That program should run weekly, just before your cast goes out. If your casts only occur monthly, then you would only run that smart campaign monthly (you get the idea). Now the second element: for those who didn’t receive the email, change their status back to not be a member of that program. It’s entirely possible that after you changed them to be a member they became interested in Peru, became an email subscriber, or both! So they should qualify for that send next time. This smart campaign will run after all your casts have completed (in our case, after 6pm Tuesday EST), and will have the criteria: Pretty straightforward. Since an email could live in multiple engagement programs, we use “contains” instead of the absolute match of “is” (Marketo believes that an email in a different program is a different email). And the flow step: So each week, here is what is happening:

  1. Before the first cast on Tuesday at 2am EST, we are checking membership for all sub-programs in the engagement program, and marking those who don’t qualify as “members” of those programs.
  2. Marketo runs through the casts and will move straight on to the next sub-program if it finds that a person is a member. So if you only qualify for emails 4 and 5, you will receive email 4 in the first week, and email 5 in the second week. Receiving the email will change a person’s membership of a sub-program to “member”.
  3. Once the casts are done, for anyone who is a member of the sub-program but didn’t receive the email, change them back to not be members of those programs, so they can qualify for future sends.

The power of this should be apparent. You no longer have to settle for one of two options:

  1. Having a generic stream of content where everyone receives ALL emails in the stream, sequentially.
  2. Having a customised stream where you can qualify for one, some, or all, but you have to wait for several casts before receiving the piece you actually qualify for.

This method allows you to build a dynamic queue of content that will be different for each user. And don’t forget, within Marketo engagement streams you can also:

  • Have “timed” content so it only goes out during a certain time period;
  • Change the order of content in the stream to prioritise based on objectives;
  • Use email scripting and/or dynamic content to customise your emails further;
  • Send more than emails — flow steps are available to you as part of sub-programs, so think sales alerts, remarketing lists for social, or even webhooks for direct mail sends.

 

It’s a bit daunting at first, but once you see the power of engagement programs used in this manner, it’s going to be hard to argue with the results. Happy casting!

By Tom Grubb, Chief Strategy Officer, Digital Pi

 

What can you say about marketing analytics that hasn’t already been said? Plenty when you know how many well-intentioned marketers too often misrepresent, misread, misunderstand, miscalculate and flat-out misuse – or don’t use marketing analytics at all. Considering the amount of time and money companies invest in people, technology and marketing programs one would think that getting marketing analytics right and putting them to work to improve ROI would be a top priority for every organization right up to the CEO. Even the companies that make marketing analytics a top priority often fail to set the right objectives, ask the right questions, and drive adoption across business functions. The journey to transforming your organization to embrace marketing analytics as the common language of marketing isn’t a journey at all: it’s a mission that requires a leader who’s not afraid to take on this formidable challenge.

Revenue_Attribution_Post_Quote_1.pngIn my work consulting with Marketo customers I’ve seen how marketing analytics champions can become a lightning rod for criticism from all sides for many reasons. The area of analytics that causes the most problems for those championing analytics is revenue attribution reporting – the method of tying marketing performance to revenue in order to use pipeline and revenue as a guide for optimizing marketing. In plain speak, the question can be framed as “show me which programs or tactics had the most/least influence on pipeline created or revenue won.” The good news for Marketo customers is this: the Marketo platform is designed to collect and manage data in a way that lends itself to revenue attribution reporting. Before I dive into Marketo’s revenue attribution model, we need to consider a very different approach to revenue attribution that I encounter in various forms: single source revenue attribution.

 

For this article, I am focusing on B2B companies. Single source attribution says, we can attribute the entire credit for an opportunity to one buyer – say, Sarah Smith, the Director of Purchasing. If lead source is the one and only attribution we apply, and we say Sarah is the person in the deal who counts the most, then we look at Sarah’s lead source – trade show, and apportion all of the credit for revenue to the trade show that acquired Sarah’s name in our database – great job marketing! Or alternatively, assume instead a sales person found Sarah on LinkedIn and added her name to the database. In that case, all of the credit for the deal would go to Sales for finding Sarah. There are lots of ways to declare single-source credit for a deal, from acquisition program to last response, to home-grown algorithms. The overarching goal for single source attribution is usually to determine whether sales or marketing sourced a deal, so management can allocate resources based on which function is sourcing the most pipeline or revenue. Dividing the world into sales or marketing revenue attribution has great appeal for obvious reasons, but it can lead to a distorted picture of how marketing and sales influence pipeline and revenue creation.

Revenue_Attribution_Post_Quote_2.pngThe example above is built on the idea that a business can declare one person as the entire reason a deal happened, to the exclusion of all other people and their engagement that influenced a deal. In reality, most B2B deals involve more than one contact from the buyer, often defined by their role in the decision such as influencer, or primary. Depending on the product or service being sold, a seller might engage with a few people or many dozens. Let’s say for our purposes we’re focused on deals that average five to ten buyer contacts for any opportunity. In order to get a complete accounting for the role marketing played in any opportunity, we have to consider all of the people associated with the opportunity and understand all of the marketing programs they engaged in – like attending webinars, visiting a booth at a trade show – any and all buyer responses to a marketing stimulus.

 

In simple terms, B2B marketers are responsible for 1) adding new names to the marketing database and 2) engaging them through marketing programs. If marketing is successful in pursuing those core missions, some of those people should make their way onto opportunities, some of whom should eventually convert to revenue. The big picture looks like this: marketing adds new names acquired by a number of programs/tactics, and marketing engages people through a range of tactics/programs that change frequently. Compared with single-sourced attribution, the world of multi-touch attribution can get very complicated very quickly.

 

Revenue Attribution the Marketo way

As I stated earlier, the Marketo platform is designed to collect and manage data in a way that lends itself to revenue attribution reporting. Understanding this architecture is the proverbial key to the universe when it comes to getting the full value from your Marketo investment and getting to good analytics. If you already know Marketo, read on anyway because this simplified explanation can come in handy when you have to explain Marketo to the un-indoctrinated.

Channels.jpg

 

Marketo channels are your marketing tactics defined as templates – Webinar, Trade show, Online Advertising and so on. For each channel you must define the actions someone can take – these are called member statuses in Marketo. As an example, the Webinar channel typically includes: Invited, Registered, No Show, Attended, and Attended On-demand. You must also state which member statuses you consider a marketing success. Using Webinar as an example again, you would definitely say people who attend your webinar reached success, but when/if someone only registers – is that a success? It depends if you consider someone registering for a webinar a marketing win; some do, some don’t. Marketo declares all successes are created equal – that is, a webinar success has equal value to a white paper download. This prevents marketers from trying to be too clever at assuming we know which engagement influenced someone more than another.  There are lots of attribution models out there, seemingly more every day – this article is devoted to Marketo’s attribution model.

Revenue_Attribution_Post_Quote_3.jpgThere’s one last component you need to understand to get the Marketo architecture religion: Marketo programs. you must create a program for every webinar, trade show, ad campaign, etc. that you plan to run. Those Marketo channels I explained above? Here’s where they come into play. Every time you create a program, Marketo asks you which Marketo channel to use as the template for the program. If you’re creating a program for a webinar, you pick the Webinar channel; for a trade show – the Tradeshow channel and so-on. After you create a program, you can start adding names to the program as members.  Those member statuses, like Registered and Attended? For every member in a program, you can (and must) build the logic in Marketo to change their member status when they do whatever it is that maps to a member status. For example, someone in a webinar would start with member status is “Invited when you add them to the program, then when you send them an invite the member status needs to change to “invited,” when they register it changes to “Registered” and so on.

 

How you define and use your Marketo channels, member statuses, and which member statuses are successes is the key to defining how you will measure, analyze and optimize your marketing based on marketing analytics. Salesforce has similar architecture design concepts that map to Marketo: Marketo Channels = SFDC Campaign Type, Marketo Channel Member Statuses = SFDC Campaign Member Statuses, and Marketo Success = SFDC Responded. The big differences are, SFDC campaign types are not templatized for re-use, and SFDC does not support the idea of success defined according to each unique channel member status. These seemingly small differences are what give Marketo a big edge in collecting and storing data for reporting. Now you have the essential building blocks to get your Marketo analytics right. I cannot overstate how important it is to get these right, nor how often we see Marketo customers miss on these important elements.

 

Marketo – the game

Think of marketing as a betting game. You start with a plan, placing your bets on the calendar across marketing tactics and campaigns. You bet some of your budget on webinars, some on newsletters, trade shows, paid online advertising – spreading your bets across multiple marketing channels and dates. The dates approach, the programs run, things happen (or don’t). Some programs bring in new names, some engage names already Marketo. How do you know which bets paid off, and which ones didn’t?

Marketo-Opoly.jpg

 

How revenue attribution works

Let’s stick with the assumption that on average, an opportunity has five to ten contacts we engage for any opportunity. Instead of saying any one person or one action gets all the credit for an opportunity, we spread the credit across all of the people associated to an opportunity. If there are five contacts on the deal, we must examine the marketing history of all five contacts to determine the impact marketing had on the deal. If the marketing history for those five contacts shows they were members in twenty Marketo programs, Marketo would examine all of their marketing history in all twenty programs to determine how much credit each program receives for influencing the deal.

Revenue_Attribution_Post_Quote_4.jpgHere’s the big idea: it takes multiple people acquired and engaged by multiple programs across multiple tactics, played out over time to make a deal happen. You have to connect opportunities to people and drill into their marketing history to connect marketing with pipeline and revenue. Many struggle to fully grasp this idea, so I will put this another way: marketing doesn’t invite opportunities to webinars, or talk with opportunities at the trade show booth. If the people they invite to webinars or talk with at the trade show booth eventually become associated to opportunities, Marketo can find the connection between marketing and the opportunity through their actions by First Touch, and Multi-Touch attribution.

 

First Touch – the Marketo program that acquired the person

If the goal of the program was to acquire new names, the measure of success will be how many new names the program added to Marketo. For example, if you setup a program called “March 2018 Google PPC” to collect new names brought in by your Google ad campaigns, and the program added 100 new names in a month, the “March 2018 Google PPC” was a good bet for Marketing to the extent that it added 100 new names. If you setup your program correctly, every name added to Marketo that originated from “March 2018 Google PPC” program will have the program name “March 2018 Google PPC” contained in the Acquisition Program field on the lead record.  This field is a Marketo default field established when you setup Marketo, and an important one at that. If you want to know which marketing tactics/programs performed best to add names to the database, this is the field Marketo uses to answer the question.

Revenue_Attribution_Post_Quote_5.jpgIn the Marketo Revenue attribution model, Marketo calls this First Touch attribution – the program that gets credit for adding a person to the database. In hindsight they probably should have named it “Program Source” or something like that so people wouldn’t misinterpret it to mean the first program that engaged a person. Marketo acquisition program is similar to a lead source because it addresses the question: where did this person come from? But lead source and acquisition program are different – though there is often uniformity between the two, as in the case when a trade show program acquires a name, we can infer the lead source is trade show from the fact that the program that acquired the name is built on the Marketo trade show Channel. In Marketo, you need to have lead sources and acquisition program values assigned every time, and consistently – even when a name is added by a sales person from the CRM. That’s right, you should create a Marketo channel, call it Sales Generated, and create a Marketo program on the channel to collect new names and assign the First Touch credit for new names added by way of the CRM. That way, you can compare the ROI on acquiring names from the CRM with marketing tactics like Online Advertising or Tradeshows.

 

Multi-Touch: the Marketo programs that engaged people to reach success

If the goal of the program was to engage names already in the database to prompt them to take a meaningful action – like attend a webinar – every person reaching success in a program puts that program on the boards for consideration toward sharing in the credit for a deal. Think of Marketo as a board game again. You play the game by placing your marketing bets on the calendar with programs and tactics.  You score early wins when people reach success in your programs (attend, download, etc.). Those successes translate to pipeline and revenue influence. If the object of the game is revenue, the winning strategy is to drive true engagement all the time, where the engagement (Marketo program success) translates to pipeline and revenue influence. Note I said influenced, and not created. Marketing does not create qualified opportunities – marketing engages people some of whom will make it to opportunities. Here is a simple example of a multi-touch scenario.

 

Sue the prospect attends a webinar and downloads a white paper. Bill the prospect downloads the same white paper and attends a live event. Suppose Sue and Bill get added to a $10K opportunity, Marketo will look at Sue and Bill’s marketing history and tally up their successes:

Successes.jpgThat makes four successes total across three programs. Sue and Bill were both in the White Paper program so that program gets 50% of the credit, the other two programs each take 25%.

Analytics.jpgIf the $10K opportunity makes it to closed won, the revenue won amount will be applied by the percentage portion that each program received: $5K to White Paper program, $2.5K each to Live Event and Webinar programs.

Analytics_2.jpgMarketo also splits First-Touch across people, so in this example Marketo would determine the acquisition program for each person and split the first-touch credit accordingly. This was a simple example, as you can imagine the more people involved in a deal, and the more time / engagement that goes by, the more complicated revenue attribution gets. Depending which reporting tool you use, Marketo gives you options to filter and calculate data using different assumptions, including whether to count program successes up to opportunity created date, or through opportunity closed date.

 

Reporting Revenue Attribution in Marketo

Now that you understand the basics of Marketo revenue attribution, you must learn where and how to report revenue attribution.  Before I dive into that, you need to understand how Marketo calculates the numbers and where those calculations are stored. Those calculations are performed nightly and stored in an application and database separate from your Marketo application and data.  Here are the analytics tools Marketo sells to access and analyze the performance data:

  1. Marketo Advanced Reports Builder (ARB) – formerly named Revenue Cycle Explorer (RCE). ARB is a BI tool that uses an Excel-like pivot table metaphor that supports drag and drop to assemble reports, show them as charts and dashboards and a lot more. When you launch ARB from Marketo, you’re firing up a separate program. Don’t go looking for ARB in your Marketo UI, it’s still referenced by its old name Revenue Explorer.

  2. Program Analyzer: An x-y axis chart that lets you pick and choose plots using revenue attribution field and values. Interestingly, this tool has a few calculations that you don’t see anywhere else, like cost per MQL.

  3. Marketo Performance Insights (MPI): this is a new tool offered by Marketo that is purpose-built to make it easy to see program success and revenue attribution packaged in the Marketo Insights UI.

Performance_Insights.jpgWhere ARB gives you the kitchen sink to build anything you want the way you want, MPI provides the essential program performance reports pre-built, with some flexibility provided in the form of drop down filters, and export features. What you trade-off for the complete flexibility you get in ARB, you gain in rapid time to productivity and from my limited experienced so far with MPI, some real-time performance gains on refreshing charts and tables.

 

Marketo Attribution Model Choices

Marketo was early to the marketing attribution game to realize the impact contact attach rate with opportunities (or lack thereof) has on revenue attribution reports. If sales doesn’t add anyone to an opportunity, there’s nobody available for Marketo to consider for marketing influence. So Marketo gives you a configurable setting that determines how it will identify people to associate with opportunities:

  1. Explicit: only count the contact roles associated with opportunities (this is SFDC’s one and only way to make the people connection for its pipeline influence report)

  2. Hybrid: look for a contact role on the opportunity; if it doesn’t find at least one, look at the opportunity company, find the account contacts with and without roles, and consider all of them for influence

  3. Implicit: Look at the opportunity company, find the account contacts with and without roles, consider all of them for influence. Think of this as account-based influence.

When you change the setting, it takes effect in the next overnight data calculation. You can run the numbers under all three settings over the course of three days. Given the time lag, it’s a good idea to plan your reporting well in advance as much as possible.

 

Behind the numbers

If you design your Marketo correctly and apply rigor to process and data every day, you will get revenue analytics that tell you a lot about your marketing that will help you be a smart marketer. If you don’t, you may expose yourself to revenue analytics that will tell an incomplete, or inaccurate story – and you may not even realize it. Even one bad list import can have a detrimental impact on your reports. Here is my attempt to list the data and process areas you need to consider:

Analytics_Issues.jpgThere may well be more I have not listed here. What’s the biggest room in the world? Room for error when it comes to revenue analytics (not just Marketo, any revenue analytics). It is possible to control these challenges, but you need to be aware of them, monitor for them, and get everyone on board to keep your data clean.

A final word about attribution reporting

It isn’t enough to understand how this all works. It isn’t enough to get your data right and keep it right.  If you understand Marketo revenue attribution, and you get your data right, and you build the standard set of reports -- you still have the most formidable challenge ahead of you: getting your organization to understand, buy into, and use the reports to continuously optimize marketing ROI. If marketing needs its own language – and it does – it’s marketing analytics. There’s a lot more to making marketing analytics the common language of marketing in an organization than I can cover here. It’s a subject I have a lot to say about in the forthcoming May 2018 issue of Applied Marketing Analytics: "How organizations can establish marketing analytics as the common business language to drive continuous improvement."

 

Originally posted on LinkedIn on April 24, 2018

Be sure you sign up for as many of these 18 (2X more than at Summit 2017!!!) fabulous Marketo Technical & Foundational Techniques track sessions from our very own amazing Marketo Champions and Champion Alumni as you can:

  1. Analytics That Matter: Reports For Every Stage of the Funnel -- Digital Pi
  2. AWSome Sauce: 10 Marketo Life Lessons From An Enterprise Org -- Joe Reitz
  3. Beyond Channels: What Else To Use To Capture The Data You Really Need (Workshop) -- Emily Thornton, Jenny Robertson, & Taylor Enfinger
  4. Cut me some Slack! Leveraging The Slack API With Marketo Webhooks And Bots -- Erik Heldebro
  5. Don't Get Lost In The Upside Down Of Your Sales Funnel (Workshop) -- Chelsea Kiko & Chris Saporito
  6. Email Deliverability 101: Winning The Inbox Wars (Workshop) -- Carmi Lopez-Jones & Kiersti Esparza
  7. Fearless Marketing In A GDPR World: Tips To Thrive Amidst New Regulations -- Michelle Miles
  8. From Nurture To Negotiation: Intelligent ABM In 2018 (Workshop) -- Rachel Noble
  9. How To Build A Marketing Operations Center Of Excellence (Workshop) -- Andy Varshneya & Edward Unthank (ETU)
  10. Infrastructure Down & Dirty: Architecting Best Practices In Marketo -- Edward Unthank (ETU)
  11. Make The Most Out Of Your A/B Testing: What Every Data Driven Marketer Needs To Know (Workshop) -- Digital Pi
  12. Master Engagement Marketing With Marketo Engagement Programs -- Josh Hill
  13. Passing The Baton: How to Track Sales Follow Up On Your Marketing Leads (Workshop) -- David Da Silva & Mark Farnell
  14. Rolebased Metrics: The Right Report For The Right Stakeholder At The Right Time -- Veronica Holmes
  15. Skinning Schrodinger’s Cat: Fearless Marketing When You Don’t Know What You Don’t Know -- Jenn DiMaria & Juli James
  16. Smash The Data Silos: Use Marketo To Create A Single Source Of Customer Truth -- Courtney Grimes, Eric Hollebone, & Gary DeAsi
  17. Strengthening Sales & Marketing Alignment: Developing Real-Time Alerts with Rich, Actionable Insights (Workshop) -- Dan Stevens
  18. Web Personalization & ContentAI In The Real World: A Marketer's Tale -- JD Nelson

 

The number one thing we heard from you in your feedback from Summit 2017 was that you wanted more workshops! As you can see, we are offering eight of the above content sessions as workshops where you have the opportunity for a more intimate and interactive session with our most experienced speakers.

 

See you at the Marketing Nation Summit!

Summit is just a little over a month away (April 29th-May 2nd) and you don’t want to miss out! Make sure you have your pass so you can join us in San Francisco to learn from marketers like you who share similar goals and have fearlessly faced similar challenges:

  • Sendgrid’s Jacob Hansen sharing best practices for maximizing your email deliverability
  • SiriusDecision’s John Donlon on proven steps to a successful ABM implementation
  • Uber’s Wyatt Bales on building a next-gen Marketing Operations organization
  • Hands-on workshops on A/B testing and Advanced Reporting with Digital Pi’s Jessica Kao
  • CenturyLink’s Scott Berns on how they keep their robust database healthy
  • Meet ups for financial services, healthcare, manufacturing, higher ed marketers like you

 

This year we’ve doubled the amount of technical Marketo content! Check it out.

 

Who's going to be there? 

Welcome to 2018! We’re starting the new year out on a positive note by rolling out a new design and structure in the Marketing Nation Community with the goal of helping you be more successful with Marketo, more quickly. The new design and structure was reviewed and vetted by many Community members and we truly appreciated all their valuable feedback.

 

Starting next new week, you will see:

  1. A new home page experience – When you land on the home page, you’ll see a news feed of what’s new and exciting in the Marketing Nation Community. For those of you who have been part of Marketing Nation for several years, it will be like going back to the good ‘ol days. The Marketo banner has also been removed so you have immediate access to what you really care about, the exciting and helpful conversations happening among your fellow Community members.
  2. One place for discussions – You asked and we answered. No more decisions about where to look for answers to your questions. Product Discussions and Marketing Discussions have been merged into a single place to access the genius of your fellow marketers, simply called Discussions.
  3. A new Blog space – Read about best practices, tips and tricks, and more from peers, experts, and Marketo employees…all in one spot.
  4. An area for Release Info – Want to learn about what’s in the latest, greatest Marketo release? Look no further than our new Release Info space. 
  5. Mobile friendly – Guess what? The Marketing Nation is now mobile friendly so you can take it on the go with you. The genius of your peers is always at your fingertips.

 

I’m excited to roll out these changes to Marketing Nation. As always, if you have any additional ideas or feedback, please feel free to let me know.

 

You can expect the Marketing Nation Community to keep getting better and better throughout 2018!

Earlier in the month, the Marketo team in Australia brought the Marketing Nation to 200+ marketers in Melbourne. They shared ideas on how to win in the Engagement Economy and attendees had an opportunity to network with peers and hear from industry experts, like Wyatt Bales, CRM Marketing Manager at Uber, about the future of marketing.

 

ANZ_Roadshow_Melbourne_Crowd.jpg

 

ANZ_Roadshow_Melbourne_Stage.jpg

 

Lots of learning for a roomful of amazing marketers! And, Melbourne was just the beginning. If you're in London, Boston, or Chicago, we'd love to have you join us to learn more about Winning in the Engagement Economy.

We’re excited to share with you that Marketo and Google Cloud announced today a multi-year alliance to transform engagement solutions for the enterprise. Marketo and Google have worked together for some time, but today marks a step forward in our collaboration to unite MarTech and AdTech to simplify the technology landscape for the marketer and enable them to more effectively listen, learn, and engage with buyers across all digital channels.

 

Through this alliance, Marketo and Google Cloud will jointly invest in co-innovation, including expansion of Marketo’s integrations with Google’s advertising products, Google Analytics, and G suite applications, as well as new innovations in areas such as Artificial Intelligence. Google will also expand its usage of Marketo’s Engagement Platform across its businesses.

 

Finally, beginning in 2018, Marketo will run its marketing automation products and datacenters entirely on Google’s Cloud Platform. We’ve been planning a move to a public cloud infrastructure for some time as we believe it’s necessary to deliver the scale, reliability, and security that our customers and partners will demand in the future. The transition from Marketo’s datacenters to the Google Cloud Platform will take place over the next year. Our joint goal is to create a seamless transition with absolutely no impact to your operations. For additional details, please see the press release and FAQ.

 

We are incredibly excited about this collaboration and expect to begin rolling out joint solutions in 2018.

Dear Marketing Nation,

 

I wanted to inform you that after eight incredible years at Marketo, Cheryl Chavez, our group vice president of Product Management and User Experience, will be leaving the company at the end of August to take some time off and eventually pursue other opportunities. While we are sad to see her go, we support Cheryl and wanted to take a moment to recognize the great work she has done on behalf of Marketo over the years. She has left an indelible mark on the company and on many of you, our customers and partners.

 

While change and transition are tough, Marketo’s commitment to customer and product innovation remains on track as we expand our portfolio and deliver against our product roadmap. I look forward to speaking with many of you over the coming months and weeks as we continuously share new updates and features to help you, the world’s smartest marketers, to succeed.

 

Please join me in thanking Cheryl for all she has done for Marketo and wishing her well and much success in the future.

 

Manoj Goyal

Chief Product Officer, Marketo

By Chandar Pattabhiram, CMO of Marketo

 

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Attribution has traditionally been the bane of all marketers, but we’re no longer doomed to continue the old ways of thinking about it. Why is this good news? Because the metrics that we marketers have customarily used to measure and showcase our success are running out of steam.

 

The Engagement Economy is catapulting the shift in our thinking and techniques from old school marketing into adaptive engagement. As we evolve in our marketing, we must also evolve in our measurement.

 

We can, and must, do better. And that means measuring and amplifying only the metrics that matter the most in the Engagement Economy.

 

Escape the engine room

For decades, marketing has measured its worth using vanity metrics. Marketers roll out imposing figures on impressions, clicks, conversions and marketing qualified leads, and while such metrics can be useful and look quite impressive, they really only matter to us. If we keep focusing on these metrics, we’ll only keep talking to ourselves.

 

These metrics do not help marketing align with other areas of the company, such as the revenue and customer experience teams, nor do they promote a strategic look at the business. Instead, they are “engine room” metrics that show what is working within marketing. And maybe what happens in the engine room should stay only in the engine room.

 

The Maslow’s Hierarchy of engagement metrics in the Engagement Economy has three layers: “engine room” metrics at the base, alignment metrics in the middle, and strategic metrics at the top. When we step out of the marketing engine room — which CMOs are doing more and more — we need to talk true alignment metrics, such as pipeline and revenue, along with big strategic metrics like Lifetime Value (LTV) and number of brand advocates. Here’s why.

 

Drive alignment

Marketing alignment with sales and other revenue teams seems like a no-brainer, but it is in fact a struggle when the two sides cannot speak the same language. Sales wants to know that marketing has its back, which means that marketers need to quantify the value of their work through metrics that mean something to sales leaders, such as contribution to pipeline and revenue. Prove to them how your marketing actions lead not just to awareness and leads, but also to pipeline and booked and banked revenue. Do this, and you’ll earn their respect. And trust me, if you are unable to do this, there is always someone else along the revenue chain who will cheerfully take all the credit.

 

Savvy marketers know this, and we have seen a notable surge in the number of marketing organizations moving in this direction. And the savviest of them also recognize that they need to go farther still up the hierarchy of metrics to win in the Engagement Economy.

 

Amplify via advocacy

At the top of the new hierarchy of metrics are two intimately intertwined strategic metrics: customer advocacy and LTV. Advocates are those who shout their love for your brand from the rooftops — or on Facebook or Yelp for consumers and TrustRadius or G2 Crowd for business-to-business, which is even better. They may not be the biggest purchasers of a company’s products or services, or its longest-term customers, but they are the readiest with their endorsements and the most fulsome in their praise. In short, they are the brand champions and are not shy about saying so. Consequently, creating, nurturing and giving advocates a platform to socialize their love for the brand is an essential and measurable strategy for success in the Engagement Economy.

 

I believe that for most brands today, 90 percent of customers are lurkers (they purchase opportunistically and engage with the brand at a low level), nine percent of customers are likers (relative to lurkers, they’re pretty steady in their purchases), and one percent of customers are lovers and thus inclined to advocate with abandon. When you are delivering the every-step-of-the-journey engagement required for maximizing lifetime customer value, you greatly increase the likelihood of converting brand likers into brand lovers.

 

Be the king of the hill, the top of the heap

As for me, I love Disney as a brand, and the stories and characters they create are incredibly memorable. That’s why I call LTV the “Mufasa” Metric — the King of all Metrics — in the Engagement Economy. And there is a good reason for it.

 

It used to be that marketing was all about funnels. In the acquisition-based marketing world, for example, we were consumed with concern about clicks and impressions. But in the Engagement Economy, marketing alignment must be across the entire customer life cycle, not just around acquisition, which means a different set of metrics matter.

 

LTV is measured by how long a customer is with you and how much they are spending across their customer lifetime. Companies focused on LTV, as we all should be today, are not just concerned with customer acquisition. They are concerned with the entire customer cycle of land and expand, make them successful, continue to sell them more, and give a great experience driven by meaningful engagement at every step so they stay with you longer and spend more.

 

Where do you stand? How do you get to the apex?

Companies and their marketers need to take a critical look at where they currently stand vis-à-vis the Hierarchy of Marketing Metrics. Many marketing organizations have pushed open the engine room doors and are successfully aligning their energies and metrics with sales and other revenue generation teams. They can demonstrate which of their programs are translating into pipeline and booked revenue, and to what degree. And many more organizations are now making their first steps.

 

But the big prize will go to those who embrace the Mufasa of all metrics and reach the strategic heights of advocacy and LTV. Companies need incentives on the marketing team to pursue alignment on pipeline and revenue creation, and all the way up the hierarchy to its strategic pinnacle.

 

I believe that marketing is primed to be the catalyst for a business to embrace LTV as strategic objective. And in the immortal worlds of Ramses II in “The 10 Commandments,” “So let it be written. So let it be done.”

 

This post originally appeared on MarTech Today on April 21, 2017.

Last month, I shared with you what we learned from the Help Build The Nation survey you completed in December. Since that time, we have been working hard to make some of your requests real.

 

Drum roll, please!

 

Starting next month, you will see:

  1. Simplified navigation – The secondary navigation will go away in favor of a single top navigation. That navigation is being slimmed down to address the three core areas we heard you visit most, Discussions, Marketing Knowledge, and How Can We Help? (which contains Support).
  2. A new home page experience – To complement the simplified navigation, Community will soon sport a new home page that is cleaner, easier to use, and more engaging.
  3. An open community –  Probably the most exciting change of all is that we are going to make sure the genius of our fabulous customers, partners, and employees can be generously shared with the broader world! What does this mean for you? You and your content will gain even greater visibility in the broader world of marketing, and your positive impact on marketer’s lives will grow. How will this work? Any person coming to Marketing Nation Community will be able to see the content in most spaces (with some exceptions, such as Ideas). However, they will not be able to interact with the content or to create content. To do that, you need to be a customer, partner, or employee who is logged into your Marketo instance. [Note: Not able create or respond to a discussion? Use the Login button at the top right of the page to login.]

 

And, we’re not stopping there. Here’s a taste of what’s still to come:

  • Improved search
  • One place for discussions
  • And, much, much more!

 

I’m really excited to start rolling out these changes to Marketing Nation. As always, if you have any additional ideas or feedback, please feel free to let me know.

 

Our Marketing Nation Community just keeps getting better and better!

First, a very big thank you to all of you (569!) who took the time to complete our Help Build the Nation survey in December.

 

Our goal is to ensure the Marketing Nation Community continues to serve your needs as a vibrant place where customers, partners, and employees all come together to share and learn from one another. To do so, we needed to hear from you about what you do in Community and what you don’t, what you want from Community and what you don’t, and what’s important to you and what’s not. You certainly didn’t let us down. I truly appreciate all the feedback. It was incredibly valuable.

 

So, what did you tell us? If I had to sum it all up in a couple of words, I would say overwhelmingly you would like us to improve the search and simplify the site. Got it!

 

There were also other interesting learnings from the survey:

  1. You use Community almost exclusively for product learning—product information, product support, and increasing your Marketo knowledge
  2. You spend the bulk of your time in Community in Product Docs, Support, and Discussions
  3. 64% of you use the global search (magnifying glass) to find what you’re looking for
  4. Your number one motivation for participating in the Community is to increase your Marketo expertise
  5. You want to see more advanced content in Community, in the form of hacks and workarounds, tips and tricks, and best practices

 

What’s next? Now, we take what you told us and start to work on it. Our development team is already working on improving search and I have kicked off a project to simplify the site. As soon as I have timelines for the improvements, I will share them. Stay tuned!

 

If you have any additional ideas or feedback, please feel free to let me know. With your help, I’m excited about making our fabulous Community even better!

This year’s Marketing Nation Summit is just around the corner and we have some exciting news about the conference! Just last week we announced that the theme of the conference is “Leading in the Engagement Economy.” More on the engagement economy in this blog from our CEO, Steve Lucas.

 

We will also be hosting a brand-new experience, a “summit-within-a-summit” in partnership with Adweek focused on the future of advertising technology (AdTech). Marketo and Adweek will present “The Future of AdTech at The Marketing Nation Summit,” a half-day of programming moderated by Adweek Editorial Director James Cooper, where you will hear from some of today’s leading marketers about how they are leveraging the latest technology to rethink how they interact with customers. The names of the speakers included in this program will be announced in the coming weeks.

 

Many sessions, providing the best industry insights to help you succeed in the new Engagement Economy, have already been announced with more to come in the next few weeks:

  • Digital Marketing Transformation in the Age of Cyber Threats: What Every Marketer Should Know – Holly Rollo, chief marketing officer, RSA
  • Fake News, Public Distrust, and the Implications for Marketing – Gerry McGovern, chief executive officer, Customer Carewords
  • Five Ways to Caffeinate Your Customer Experience in 2017 – Scott Anderson, chief marketing officer, Sitecore
  • How the San Francisco Giants Transformed CX to Become Baseball's Brand MVPs – Bryan Srabian, vice president of digital media & brand development, San Francisco Giants
  • The Rise of the “Unbrand”: The Secret Genius of Taylor Swift & How She's Changed Marketing Forever – Martin Kihn, research vice president, Gartner for Marketing Leaders
  • What's Your Story? How Powerful Narratives Drive Great Companies – Deb Lavoy, CEO of Narrative Builders

 

Let’s not forget that Summit is about fun too! In addition to multiple parties and other events, four-time Grammy Award-winning band Train will perform in a private concert for all registered attendees.

 

Don’t miss out! Be sure you’re registered and ready to join us in April at the best Marketing Nation Summit ever!

Last week was Marketo's 2017 Revenue Kickoff Meeting in San Francisco. It was a great opportunity for all our sales and marketing employees and 200+ partners (for the first time ever!) from around the world to align on what we're going to do this year...and, of course, have some fun.

 

So what can you expect from Marketo in 2017? First and foremost, you can expect us to double down on helping you win in the new "engagement economy."

 

As you know, in our digital world, everyone and everything is connected and relationships between buyers and sellers have fundamentally changed. As a result, buyer expectations have gone way up. In fact, we looked at some interesting research at the meeting about buyer expectations from one of our partners, Wunderman, that showed:

  • 79% of buyers only consider brands that show they understand and care about "me"
  • 63% of the best brands exceed expectations across the entire customer journey
  • 88% of buyers want to engage with brands that are setting new standards
  • 89% of buyers are loyal to brands that share their values

 

The only way to win in this new engagement economy is to deliver authentic and personalized experiences at scale. Therefore, our focus this year is on helping you transform the way you reach and engage with people by continuing to improve our Marketo Engagement Platform, so you can listen to customer behaviors, learn what each individual customer wants, and engage your customers intelligently wherever they are.

 

At the meeting, we all practiced engaging in an authentic and personalized way in real time with the cutest puppies ever!

 

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Steve Lucas, CEO, getting personal with a puppy

 

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Karen Steele, VP of Corporate Marketing, building a new relationship

 

Steve clearly laid out Marketo's promise to all our customers: We will empower you to create lasting relationships and grow revenue.

 

We know you want to win and Marketo is here to help you do just that. Here's to a great 2017!

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