Unlock the Buyer Journey by Turning Data Insights Into Action
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Dayna Rothman, VP of Marketing and Sales Development at BrightFunnel shares how you can find the holy grail of marketing and turn the buyer's journey into a science!
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Unlock the Buyer Journey by Turning Data Insights Into Action
- 1. @BrightFunnel #FunnelFest Unlock the Buyer Journey by Turning Data Insights into Action Dayna Rothman, VP of Marketing and Sales Development at BrightFunnel @dayroth
- 2. @BrightFunnel #FunnelFest Dayna Rothman, VP of Marketing and Sales Development, BrightFunnel
- 3. @BrightFunnel #FunnelFest Marketing Attribution Tracking ABM Analytics Web Tracking and Ad Network Integration Independent Platform Solution Revenue Funnel Analysis Forecasting and Prediction Data Validation and Process Optimization Sales Activity Analysis
- 4. @BrightFunnel #FunnelFest Why is Unlocking the Buyer Journey So Hard?
- 5. @BrightFunnel #FunnelFest Today’s buyers are: Multi-channel Multi-device Part of a decision team The role of marketing has changed.
- 6. @BrightFunnel #FunnelFest Marketers own more of the buyer journey than even before.
- 7. @BrightFunnel #FunnelFest Lead Generation: Paid programs and ads Events Webinars/Virtual Events Website/content Social SEO Marketers Do a Lot! Funnel Acceleration: Database blasts Email nurturing Account-Based Marketing Accelerator programs Retargeting ads Brand Awareness: Social Content Events Blog Influencer marketing
- 8. @BrightFunnel #FunnelFest Making sense of the data enables you to orchestrate the buyers journey and show marketing’s impact on revenue. This leads to a lot of data.
- 9. @BrightFunnel #FunnelFest The “Marketing Holy Grail” is to turn the buyer journey into a science by sending the right message, to the right person, at the right time.
- 10. @BrightFunnel #FunnelFest But, this can be a challenge. Marketers often operate in the dark.
- 11. @BrightFunnel #FunnelFest Consider the typical B2B Buyer Journey 6 people involved in the decision process Cycle Duration: 250 Days 75 Marketing Touches Ads Email BlogWebsite Ebook Webinar Datasheet Event Demo Email Roadshow Whitepaper Blog Ebook Webinar Account Opportunity $370KDeal
- 12. @BrightFunnel #FunnelFest Your CRM doesn’t tell the whole story 6 people involved in the decision process Cycle Duration: 250 Days 75 Marketing Touches Ads Email BlogWebsite Ebook Webinar Datasheet Event Demo Email Roadshow Whitepaper Blog Ebook Webinar Account Opportunity $370KDeal Email
- 13. @BrightFunnel #FunnelFest There is much more to the buyer journey 6 people involved in the decision process Cycle Duration: 250 Days 75 Marketing Touches Ads Email BlogWebsite Ebook Webinar Datasheet Event Demo Email Roadshow Whitepaper Blog Ebook Webinar Account Opportunity $370KDeal EmailEmailAds BlogWebsite Ebook Blog EbookWebinar WebinarWhitepaperEvent DemoDatasheet Roadshow
- 14. @BrightFunnel #FunnelFest Leveraging Data for TOFU, MOFU, and BOFU Buyer Stages
- 15. @BrightFunnel #FunnelFest What Should You Track to Orchestrate the Buyer Journey? • First touch attribution—what brings people into your funnel • Multi-touch attribution—what accelerates people through your funnel • Last-touch attribution—what converts people from stage-to-stage • Velocity—how fast a piece of content, a channel, or a campaign moves people through your funnel • Full account analysis—how everything adds up in order to determine the best path to sale
- 16. @BrightFunnel #FunnelFest How Does a Buyer Journey Begin? • Key First-Touch Metrics: • Leads generated • MQLs sourced • SAL/SQL sourced • Website traffic • Pipeline/opp sourced • Revenue/deal sourced • Data Segmentation: • Target accounts • Region • Company size • Revenue • Title How does a buyer get introduced to your brand? What brings her into your funnel?
- 17. @BrightFunnel #FunnelFest Example: First-Touch Analysis Analyze metrics on the channel and campaign level.
- 18. @BrightFunnel #FunnelFest How Does a Buyer Move Through Your Sales Funnel? • Key Multi-Touch Metrics: • Attributed pipeline • Attributed revenue • Lead touches • Opp touches • Deal touches • Data Segmentation: • Target accounts • Region • Company size • Revenue • Title How does a buyer increase her engagement with your brand over time as she gets closer to making a purchasing decision?
- 19. @BrightFunnel #FunnelFest Example: Multi-Touch Analysis Analyze metrics on the channel and campaign level.
- 20. @BrightFunnel #FunnelFest What Completes a Buyer Journey? • Key Last-Touch Metrics • Last touch before stage conversion • Last touch pipeline • Last touch revenue • Opp touches • Data Segmentation: • Target accounts • Region • Company size • Revenue • Title What is the last touch before a buyer becomes an opportunity? What marketing program is responsible for that “aha moment”?
- 21. @BrightFunnel #FunnelFest Example: Last-Touch Analysis Analyze metrics on the channel and campaign level.
- 22. @BrightFunnel #FunnelFest Data Segmentation is a Key Piece of the Puzzle Database account vs. target account engagement by website program.
- 23. @BrightFunnel #FunnelFest How Do I Move Buyers Through the Funnel Faster? • Key metrics: • Stage velocity • Lead-to-opp days • Opp-to-deal days • Lead-to-deal days
- 24. @BrightFunnel #FunnelFest Unlock the Account Decision Team, Unlock the Full Buyer Journey
- 25. @BrightFunnel #FunnelFest Now it’s time to put it all together to determine the optimal buyer journey.
- 26. @BrightFunnel #FunnelFest Your Buyer Journey Should Map to Your Sales Funnel
- 27. @BrightFunnel #FunnelFest • Make sure that you connect all leads and contacts to an account • Look at full journey—including all influencers in decision cycle • Look at trends in: • The order of what content is downloaded • What channels and campaigns were effective in what areas of the funnel (first-touch vs. multi-touch) • How fast certain campaigns move leads down the funnel • How sales activity integrates into the overall buyer journey Opportunity and Account Analysis
- 28. @BrightFunnel #FunnelFest Closed/Won Opportunity Journey
- 29. @BrightFunnel #FunnelFest Opportunity Analysis: Channel and Role
- 30. @BrightFunnel #FunnelFest Putting it All Together So You Can Start Planning
- 31. @BrightFunnel #FunnelFest Historical Conversion Rates Help with Planning Know what program to run based on where you need movement in the sales funnel by looking at historical conversion rates.
- 32. @BrightFunnel #FunnelFest Historical Dollar Amounts Help Increase Deal/Opp Value
- 33. @BrightFunnel #FunnelFest • Track engagement per account and segment • Know what works for bringing people in and accelerating them through your funnel • Know what works for different roles and titles, and know which roles and titles typically engage with what content, channels, and programs • Know the velocity of different channel types and campaigns • Orchestrate the ideal buyer journey based on results • Constantly keep testing and optimizing! Putting it All Together
- 34. @BrightFunnel #FunnelFest Buyer Journey Example Based on 6 month cohort: • First-Touch (TOFU): 1. Content Syndication: ABM Ebook • Multi-Touch (MOFU): 1. ADR Outreach 2. Website Visit: Definitive Guide to Multi-Touch Attribution 3. Email Nurture 4. Internal Webinar 5. Email Call for Demo: $50 Amazon GC • Multi-Touch (BOFU): 1. Tradeshow: Sirius Decisions 2. Direct Mail: Cookie Campaign 3. Field Event: Dinner 4. Content: Invoca Case Study • Last Touch (BOFU) 1. ADR/AE Outreach 2. Content: Buyer Guide
- 35. @BrightFunnel #FunnelFest 5 Key Takeaways The holy grail of marketingis turningthe buyer journey into a science Orchestrate yourcustomer journeyby leveragingdataandanalytics Look at single-touchandmulti-touchattributionto know what to say and when to say it Determine the best path-to-saleby lookingat fullaccountanalysesacross your target accountsandopps Constantlykeep testing andoptimizingfor success!
- 36. @BrightFunnel #FunnelFest Thank You! @dayroth, dayna@brightfunnel.com
Editor's Notes
- Core 1: Vision, mission, values
- And today’s marketers do a lot! Lead generation, funnel acceleration, brand awareness, etc. How do you put it all together to make sense of all of these desperate data sources so that you can more efficiently run the business of marketing and prove your program ROI to your CEO and board.
- It is time to put it all together to determine timing—and your timing should be aligned with the buyer journey. What is the optimal order for your contents and campaigns? How do you move the needle with your buyers faster by orchestrating the optimal buyer journey.
- And you need to make sure you are thinking about timing as it relates to your sales funnel—what are you saying as someone moves from stage-to-stage?
- One of the first things you need to do in order to put it all together is to look at current engagement within open opportunities and target accounts. You need a sample set to examine the data on what is working to move leads and accounts through your sales funnel. First, you need to make sure that you connect all of your leads and contacts to an account, so you can have that full account view. Remember that B2B decision team? In order to understand when and how to orchestrate your engagement touches, you need to have a full picture of the account. And then, start looking into trends. Is there a pattern that jumps out in the order of what content is downloaded in your target accounts? Are there trends in what channels and campaigns were most effective for bringing accounts in and accelerating them through the funnel? Do you have data on how fast certain campaigns and channels move leads down the funnel? And what about sales activity, how does that fit in?
- Digging in even deeper into the types of engagement and what has been working for this opportunity, we can see that 30% of engagement in this account has been with external vendor email programs, 26% of engagement with webinars, and 22% of engagement with house emails. This can help us move beyond individual programs to understanding what channels your accounts are engaging with the most. Is there a trend amongst named accounts in different geographic territories? Is there a trend amongst different company sizes?
- So how do you put it all together?
- Now let’s take everything we learned and put together a sample buyer journey. This was based on 6 months of data. When we analyzed our current programs, opps, and accounts, we came up with this as a sample buyer journey. We know that high quality leads have come in through a content syndication program. After that program, we have created a series of engagements that have been successful in moving people to additional lead stages. ADR outreach, followed by driving to the website, adding them to email nurture, inviting them to a webinar, and then accelerating them to opp by giving a $50 amazing GC for a demo. Once they have engaged with that demo, we will start making our outreach personalized and high touch by inviting them to visit us at a tradeshow, sending them a direct mail campaign, inviting them to a dinner, and sending them a late-stage content asset. And finally, we have an AE or ADR engage personally and start sending them content that helps them build the business case for our product.