Today’s post is contributed by Kelly Waffle, VP, Strategic Solutions at MarketBridge.
A lot of well-intentioned organizations buy into the dream of marketing automation and go out and purchase a marketing automation platform—they feel as if they have purchased a Formula One race car and are hoping to get some quick wins. Months or a year goes by and that race car is not performing. Leads being passed to sales are still being ignored. No ROI can be established. Behavioral data is not being leveraged. No strategy is in place on how to use or create content. All they can show for their time and effort are a few individual email campaigns. Sound familiar?
So how do you get out of first gear with marketing automation? To get in the race, there are at least three action items you should focus on right away:
Tighter communications between the driver and the pit crew – In this analogy Sales is the driver and Marketing is the crew. Sales and Marketing need to be discussing ever-changing conditions so that Marketing can set up the revenue vehicle to run as effectively and efficiently as possible. There also needs to be agreement between Marketing and Sales on the definition of a “lead” and a “handoff.”
Continual adjustment of the revenue vehicle – Marketing automation is the shiny, expensive revenue engine, but there are other components to the overall revenue vehicle that are just as important and need attention. Take, for instance, lead scoring. This process would be the tires on the revenue vehicle. This is where you are going to get traction. Formula One race teams do not use the same tires race after race—or even in the same race. They are continually making changes to the tires based on changing condition information. The same holds true for lead scoring.
The real driver of the revenue vehicle is data – If you just wanted to send out emails, there are cheaper and simpler ways to send out large-scale email campaigns. The reason you go through the trouble of building out marketing automation and a connected marketing and sales funnel is to collect prospect and buyer decision data and adjust your marketing to support those decisions. In addition to the prospect and buyer decision data, there is the operational data (conversions, program performance, ROI, etc.) This data will change the types of conversations that Marketing has with Sales and Executive Management.
Your organization has already invested a lot of time, money, and resources on its shiny revenue engine—marketing automation. Don’t give up on it yet. Get some actionable tips on how to get back in the fast lane by listening to “master mechanics” Janet Driscoll Miller (President and CEO, Marketing Mojo) and Kelly Waffle (Vice President, Strategic Solutions Group, MarketBridge) at a free, 60-minute webinar:
Those who attend will also receive a free Middle of the Funnel calculator to help see where they can be driving to with improved revenue performance. Help get your marketing automation back in gear by registering for the webinar today.
Kelly Waffle is VP, Strategic Solutions at MarketBridge. Kelly leads the digital marketing and technology practice within MarketBridge’s strategic solutions group. Kelly has over 20 years of hands on client experience in the areas of marketing automation, demand generation, and digital marketing. He has won awards from both Marketo and Eloqua for marketing engine innovation and marketing/sales alignment.