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Predictive Lead Scoring: How to Turn Data into Revenue
- 1. © 2013 Marketo, Inc. Marketo Proprietary and Confidential
Predictive Lead Scoring:
How To Turn Data Into Revenue
#LaunchPoint
Gary DeAsi, SmartBear Software
Tony Yang, Mintigo
Patrick Chen, Marketo
- 2. © 2013 Marketo, Inc. Marketo Proprietary and Confidential
Your Speakers
Gary DeAsi
Sr. Marketing Manager
& Marketo Champion,
SmartBear Software
Tony Yang
Director of Demand
Generation,
Mintigo
Patrick Chen
Sr. Manager,
Marketing Operations,
Marketo
- 3. Page 3
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Quick Housekeeping
• Chat box is available if you have any
questions
• There will be time for a Q&A at the end
• We will be recording the webinar for
future viewing
• All attendees will receive a copy of the
slides and the recording of today’s
webinar
• Twitter hashtag: #LaunchPoint
- 4. Page 4
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Source: David Raab. http://customerexperiencematrix.blogspot.co.il/2013/10/marketing-automation-user-satisfaction.html
http://customerexperiencematrix.blogspot.co.il/2013/10/which-b2b-marketing-automation-features.html
- 5. Page 5
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Why Is Lead Scoring So Hard To Implement?
- 6. Page 6
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Reason #1: I Don’t Know If The Data I’m
Using To Score Are The Right Ones
- OR -
- 7. Page 7
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Reason #2: It’s Not Accurate Because It’s
Based On False Correlations
- 8. Page 8
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Reason #3: It Takes A Long Time To Gather
Data & A Lot Of Work To Get It Right
Utilizing Progressive Profiling To
Collect Firmo/Demographic Data
Fostering Engagement To Gather
Behavioral Data For Implicit Scores
- 9. Page 9
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Reason #4: It Becomes Super Complex If You
Sell Many Products Or To Multiple Personas
A B A+12 +20+35 +10
- 10. Page 10
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Poll
What are your biggest challenges in lead scoring?
• It’s not very accurate
• I don’t know how to set it up
• I don’t know what data to score on
• I have many personas or products
• It requires too much work
• No challenges. We’re completely happy with our scoring.
• Other (please type them into the chat box)
- 11. Page 11
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
What If Your Lead Scoring…
• Is based on the true profile of your ideal customers?
• Can target the prospects most likely to become buyers?
For each of your products?
• Can determine the best
nurture path for
each lead, instead
of using nurturing
to gather behavioral
data?
- 12. Page 12
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Predictive Lead Scoring FTW!
- 13. Page 13
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
What Is Predictive Lead Scoring?
A methodology for ranking leads in order to
determine their sales-readiness by using predictive
modeling to discover the most accurate and relevant
data points for which to score.
- 14. Page 14
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
How Predictive Lead Scoring Works
Thousands of Online
Data From Web
Ex: - Tech Industry
- Sales roles
- Has lots of outside
sales
- Hiring CRM admin
- Dreamforce mention
- Has call center
Customer Data From
Your Data Sources
Machine Learning
& Predictive Model
Predictive Score Shows How Closely
Matched Unknown Lead Is To Ideal Profile
+
Ideal Customer Profile (aka CustomerDNATM)
- 15. Page 15
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
12+ products
- 18. Page 18
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
User Personas
- 19. Page 19
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Test
Ops
Dev
Audience Overlap
Developer Tester
Operations
- 20. Page 20
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Audience Overlap
Test
Ops
Dev
Developer Tester
Operations
- 21. Page 21
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Marketing Challenges
“I got 99 problems…
and they are all very different depending on product and
market segment.”
- 22. Page 22
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Very Different Challenges
• Too many leads VS too few leads
• Non-challenged industry leader VS highly competitive
market VS entering new market
• Net New VS Land n Expand
• 3 week sales cycle VS 3 month sales cycle
• Cross-sell, up-sell
• Segmentation, cross-personas, departments & markets
• Marketing Operations
• Feeding many hungry mouths, all different taste buds
• Dev, Test, and Ops people hate marketers
- 23. Page 23
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Solution:
Lead Scoring
- 24. Page 24
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
$ Qualified Lead
Explicit
Demo/Firmo
BANTImplicit
Behavioral
• Web visits
• Email engagement
• Content downloads
• Webinar reg/attendance
• Trial downloads/activations
• Product usage
• Form completions
• etc
• Contact data
• Job title/role
• Industry
• Custom qualification
fields
- 25. Page 25
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Multi-Product Lead Scoring
- 26. Page 26
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Great Rates, but wait…
0.05% 0.14%
0.81%
2.15%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
Sales Promo CR by Lead Score
- 27. Page 27
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Great Rates, but wait…
0.05% 0.14%
0.81%
2.15%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
Sales Promo CR by Lead Score
• Limited to track-able implicit behavior and
explicit form completions
• Scoring data = time to collect, build, maintain
• We are only human
- 28. Page 28
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
$$$ Qualified Lead
Explicit
Demo/Firmo
BANTImplicit
Behavioral
Mintigo
Big data,
predictive,
Custom MIs
- 29. Page 29
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Tool-Assisted Code Review
Develope
r
Use Case #1: Custom
MIs
- 30. Page 30
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Develop
er
Custom
MIs
o Proportion of Software
Engineer Titles
o Programming
Language: PHP, Java,
.Net, etc
o Indications/Hiring:
Agile, CMMI,
SCRUM…
Code Review
- 31. Page 31
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Enterprise &
Verticals
Develop
ero Proportion of Software
Engineer Titles
o Programming
Language: PHP, Java,
.Net, etc
o Indications/Hiring:
Agile, CMMI,
SCRUM…
Code Review
o Forbes Global 2000
o Fortune 1000
o Regulated industry
compliances &
Certifications
Custom
MIs
- 32. Page 32
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Enterprise &
Verticals
Develop
er
Multi-
Locations
o Forbes Global 2000
o Fortune 1000
o Regulated industry
compliances &
Certifications
o International
locations/positions
o Has multiple
locations
o Has development
teams in multiple
locations
Custom
MIs
o Proportion of Software
Engineer Titles
o Programming
Language: PHP, Java,
.Net, etc
o Indications/Hiring:
Agile, CMMI,
SCRUM…
Code Review
- 33. Page 33
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Enterprise &
Verticals
Develop
er
Multi-
Locations
o Forbes Global 2000
o Fortune 1000
o Regulated industry
compliances &
Certifications
o International
locations/positions
o Has multiple
locations
o Has development
teams in multiple
locations
Custom
MIs
*Developer at existing Collaborato
customer organization
o Proportion of Software
Engineer Titles
o Programming
Language: PHP, Java,
.Net, etc
o Indications/Hiring:
Agile, CMMI,
SCRUM…
Code Review
- 34. Page 34
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Enterprise &
Verticals
Develop
er
Multi-
Locations
o Forbes Global 2000
o Fortune 1000
o Regulated industry
compliances &
Certifications
o International
locations/positions
o Has multiple
locations
o Has development
teams in multiple
locations
Custom
MIs
*Developer at existing Collaborato
customer organization
o Proportion of Software
Engineer Titles
o Programming
Language: PHP, Java,
.Net, etc
o Indications/Hiring:
Agile, CMMI,
SCRUM…
Code Review
- 35. Page 35
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Use Case #2: Cross-Sell
Web/App
Performance, API
Monitoring, UXM
API Testing
Develope
r
Tester
Operation
s
Marketer
- 36. Page 36
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
CustomerDNATM
Cross-Sell
- 37. Page 37
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
CustomerDNATM
SoapUI Pro
Customer INC
Dev Test
Cross-Sell
- 38. Page 38
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
CustomerDNATM
SoapUI Pro
Customer INC
Dev Test
Ops
Cross-Sell
- 39. Page 39
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Cross-
Sell
- 40. Page 40
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
API Testing
Develope
r
Use Case #3:
Predictive Scoring
Tester
- 41. Page 41
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Mintigo
Challenge
Positive Sample: All SoapUI leads generated in 2013
converted to Closed Won Opportunities in 2013
Negative Sample: All SoapUI Leads Generated in
2013 not converted to opportunities
Mystery Sample: All SoapUI leads generated in 2013-
2014
Mintigo Challenge: Which leads generated in 2013-
2014 closed in Q1 2014?
?
- 42. Page 42
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
0 1 2 3 4 5 6
Hiring E-commerce related positions
Hiring Web Performance related Positions
Hiring Saas related positions
Indication of Web Application Technology
Alexa Global Rank between 1-5000
Google Page Rank - 8
Daily PPC Budget >$10000
Hiring Code Review related Positions
Hiring Agile related positions
Company has Multiple Locations
Forbes Global 2000
Multiple Locations Software Development
Fortune 1000
Rest API
Hiring SOA related positions
Hiring Devops
Hiring Application Mgmt related positions
API Provider
Buying Signals - Lifts in the model
Common Traits of Closed Won..
- 43. Page 43
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Negative vs Positive Traits
0% 10% 20% 30% 40% 50% 60%
Mobile Device Usage (BYOD)
Hiring Mobile Developers
Hiring MDM related positions
Mobility Technologies Indication
Test Automation Indication
Hiring Chargeback related positions
Hiring VOC related positions
Has Data Center
Hiring Web2.0
Has Data Warehouse
Has Call Center
Customer Login Area
VMWare User
Java User
Hiring Customer Service
CRM User
Has Field Workforce
Oracle User
Has International Activity
Marketing Automation User
Is Hiring (Growth)
Negative - Others
Positive - Wins
- 44. Page 44
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
1000s of Data
Points
0% 50% 100% 150%
Country=AUSTRALIA
Country=CANADA
Country=UNITED STATES
Country=UNITED…
Country=INDIA
State=MN
State=GA
State=VA
State=CA
State=MA
State=NY
Valid Title
Valid Company Name
Is Free Mail
Negative -
Others
0% 5% 10% 15% 20% 25% 30% 35%
Number of Employees= 0 - 25
Number of Employees= 25 - 100
Number of Employees= 100 - 250
Number of Employees= > 50K
Number of Employees= 250 - 1000
Number of Employees= 1K - 10K
Number of Employees= 10K - 50K
Annual Revenue= $0 - 1M
Annual Revenue= $1 - 10M
Annual Revenue= $10 - 50M
Annual Revenue= $50 - 100M
Annual Revenue= $100 - 250M
Annual Revenue= $500M - 1B
Annual Revenue= > $1B
Negative - Others
Positive - Wins
- 45. Page 45
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
80% of
wins
in 27%
of
leads
95% of
wins
in 40%
of
leads
Predictive
Results
- 46. Page 46
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Ok, so 80% of my revenue comes from
27% of my leads.95% from 40%. Now
what?o Concentrate Marketing Time/Resources
Targeted messaging
Dynamic content, stack your nurture paths
“Luxury” Initiatives
Double down on the source(s)
Put them under a microscope
o Arm Sales with Data, Prioritization, Tools
Provide magnifying glass for best bets
Sales enablement: content + intelligence
Revisit recycled leads
BDR calling campaigns
Cross-sell
- 47. Page 47
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Test
OpsDev
42
What’s next?
- 48. Page 48
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Test
OpsDev
42
82
19
24
11
95
77
79
35
6
What’s next?
- 49. Page 49
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Mintigo + Marketo
• Real-time data append
• Share key data w/ sales (“Best Bets”)
• Build into lead scoring, and/or use for
accelerators
• Granular segmentation and dynamic
content
• Marketing channel/campaign
disposition
• Nurture stream assignment and
transition
• Continuous analytics and customer
intelligence
The possibilities…
- 50. Page 50
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
HOW IT WORKS WITH MARKETO
Mintigo Predictive Marketing Platform
- 51. Page 51
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Build Your Predictive Model & CustomerDNA
Step 1
Pull A CSV Of Your Customer Records (at least 100) & Upload To Mintigo
Step 2
Mintigo Analyzes Your Data with
Thousands Of Data From The Web
Step 3
Predictive Modeling Identifies The Data Points That
Have The Strongest Correlation With Customers
Step 4
Your Ideal Customer Profile, aka Your CustomerDNATM,
Is Created From These Data Points
- 52. Page 52
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Set Up Webhook & Custom Field Mapping
For MI’s
- 53. Page 53
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Create Smart Campaign To Trigger Web Hook
- 54. Page 54
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Any Prospect Gets Predictively Score
Immediately
Predictive Score Tells
You How Closely
Matched The Prospect Is
To Your CustomerDNA
- 55. Page 55
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Bonus: Mintigo Also Enriches Leads With
Firmographic & MI Data
Mintigo enriches leads
with data points that
matter to your business
directly into Marketo so
you can better target your
offers & segment lists
- 56. Page 56
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Predictive Lead Scoring Is Just The Beginning
Customer
DNA
Scores
Data
Enrich-
ment
Personas
Content
Offers
Channels
PREDICTIVE MARKETING
INTELLIGENCE
Predictive Modeling Marketing Indicators
DATA
CRM, MAP & Internal Data Big Data / WWW
APPLICATION
Discover
Your Ideal Customer
Profile
Target
The Prospects Most
Likely To Buy
Engage
The Right Prospects With The
Right Message & Channel
- 57. Page 57
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Q&A
- 58. Page 58
© 2013 Marketo, Inc. Marketo Proprietary and Confidential
Gary DeAsi
Sr. Marketing Manager
& Marketo Champion
SmartBear Software
Tony Yang
Director of Demand
Generation
Mintigo
@tones810
tony@mintigo.com
Patrick Chen
Sr. Manager, Marketing
Operations,
Marketo