An Automation Pathway, Part 2: Determine Your Plan Tutorial

5.2 Introduction

This is Matt Bailey, presenting Marketing Automation, an Automation Pathway.

5.3 What's Your Plan?

And so ultimately what it comes down to is what is your plan? Not just for using marketing automation to get new customers, to nurture those leads or to send out emails to your customers, maybe incentive emails. Ultimately what's the plan, where do you want them to go? Do you want to make C level buyers A level buyers? Well then how do you get them there, and how do you make them a longterm customer for life? So if this is not just for B2B lead generation, but how do you take an average customer and make an above average customer? What's your plan for the end game?

5.3 What's Your Plan?

And so ultimately what it comes down to is what is your plan? Not just for using marketing automation to get new customers, to nurture those leads or to send out emails to your customers, maybe incentive emails. Ultimately what's the plan, where do you want them to go? Do you want to make C level buyers A level buyers? Well then how do you get them there, and how do you make them a longterm customer for life? So if this is not just for B2B lead generation, but how do you take an average customer and make an above average customer? What's your plan for the end game?

5.4 Ecommerce Pathway

Let's look at a couple examples of the pathway that someone would take. So for e-commerce, maybe they'd come in through a specific promotion that was emailed to them from a friend, or maybe they saw it on social media, or if you're doing some inbound marketing. Someone gets into the funnel there and we've captured their email. Maybe it was through a discount or something like that, that they treated their email for some level of information. With that point you can get them on a drip campaign which feeds them information about what they'll be able to find on your site. And so then based on how they engage with those drip emails that helps us understand what kind of content, what kind of products. What are they interested in. And so the nurturing campaign, or additionally maybe another drip campaign can use what you've learned about them and how they've engaged with the emails. What links did they click on? What products or what product types did they click on and what to learn more about? What do they browse? That type of information is now added into the mix and so they start to receive promotions about information, or about products that they've clicked on that they've shown interest in. That they've visited. Hopefully you get the conversion here. And once you get the conversion, then we can start sending them more specific promotions because now we know what they bought. Does what they bought match up with what they've been looking at? If so, let's continue to send these sales and products based on what they're doing here. Then the more we learn about this person, what type of segments can you identify? Are they regional segments? Are they demographic segments or are they purchased segments? Then you can start to develop rewards based on those segments or a specific promotions based on those segments and schedule them and automate them. One way that a lot of companies especially in the Ecommerce space will develop promotions and segments and rewards is through a simple equation called RFM. And what that's based on is Recency, Frequency, and Monetary. What that means is, when evaluating all of your buyers. How often do they come to your site and when was the last time they came to your site and how much did they spend? And so you can look at that a number of ways. How much did they spend in the last 30 days, 60 days, maybe the last year. How frequently do they buy? Is it once a year, twice a year, or more? And what's their level of spend. And so of course for e-commerce company that's going to be a little different based on what do you see your customers doing now and then how can you treat them differently based on this equation? Companies that focus a lot of time on their high RFM segments are able to grow them. Because obviously these are customers that love your products. Love what you do. They like hearing from you, and when you give them specific promotions. Even let know that they are your most valuable customers. [ They tend to react positively, and you can take your best segment and make it an even better segment. You can also use that same equation to identify your average level buyers or your low level buyers. And you can treat them differently. You can ask for more, maybe present yourself differently. If it's someone who buys the same product once a year, you can have the same message going out to them to remind them to do that. It's different based on different companies but that's the primary way that eCommerce companies develop an understanding of how they can promote to different segments of people.

5.5 Retail Pathway

In retail it might be a little different because we may be asking people that are buying to sign up for promotions or maybe sign up for a loyalty card. If we can get them on a loyalty card, then maybe we can also push them to install an app. If they can install an app, then we can push automated notifications right to their app. There is one store within a mall, it looks to see where their customers, that have a smart phone and have their app installed, if they go into a competitor's store, it automatically pushes a promotion to them for a discount. And the amount of the discount decreases the longer it takes them to get to the store. So if they get to the store very quickly they get a higher discount. And it pulls them away from their competitor's stores and into that store. And so in that way automation is now dependent upon where someone is with their smartphone and having that app installed. And so you can push notifications whether they're in the immediate location or in a certain radius or even push at notifications as they walk through the store. And again you can do location based promotions, you can do RFM based promotions, you can do rewards based promotions. All these things are developing scenarios, looking at the conversations that could take place in different areas and how you can drive people to the retail store or through the app. However you want to work with them, and you can co-create different messaging or goals for this type of automation.

5.6 Subscriber Pathway

In a subscription based model obviously the first thing you're doing is through your inbound marketing, getting that e-mail address. Whether it's for someone getting a white paper or registering for something and then they get into that drip campaign. Which shows them more information, provides more white papers, and opportunity for a webinar, or for more information that they might find interesting. Of course, you're also measuring the engagement that they show as they click on the links, or what types of white papers are they looking for. And once we get the conversion, they could get into a welcome series email. And then we can look at different rewards or reminders. We can upsell or cross-sell or upgrade based on whatever you want to do. And then also you can look at how you can maybe change your renewal offer based on the engagement, based on the type of subscriber that this person was.

5.7 B2B Lead Generation Pathway

Where marketing automation really has been excelling, and really, where it's been utilized most the past few years, is in business to business lead generation. With inbound marketing, with marketing automation, you're grabbing that email, you're getting the business information, and immediately, you can start providing them information that's very similar. And driving relevant emails to that user. You can measure the engagement and send them a nurturing campaign based on the engagement of what they have expressed as what's important to them. And then of course, you can get that conversion if, sometime they've received all the emails, they've received the information, and they finally decide, this is for me. And then you can get them in the welcome series. And then beyond that it's up to what type of B2B Business you are. But here's the critical thing, and especially, this is what I've noticed in B2B lead generation. I'm not going to call it the conversion. I'm going to call it the attempted conversion, because it really depends upon what you are doing in terms of automation, as well as, do you have a sales force that is working alongside your marketing automation system, and how are you implementing this? What's your end game? You see what happens, is a lot of times, people jump the gun. In fact, just the other day, I received a promotion, I clicked on it, and downloaded a white paper. And so I downloaded the white paper based on this, and within the next week I received three sales calls. Now I had to let them know, I'm not interested in your company, I'm not interested in your product, all I wanted was the white paper, because it had information that I thought was pretty relevant. And it quoted some statistics that I would like to use. Now at that point, we're now at a stalemate. I got what I wanted, they didn't get what they wanted. How do you react to that? Well, the problem was, they didn't use a nurturing campaign. They didn't use a drip campaign. All they did was have a white paper available and they sent it out and it got re-tweeted and it got posted around online. And someone like me found it to be interesting and wanted to see more information but I wasn't interested in the product. They may have been able to figure that out but what happened is they skipped all of the campaigns and went right to the phone call. And of course that's going to result in a stalemate because they didn't learn anything about me or any of their other customers. They didn't learn if we're interested in more or if we want more information like that. All they knew is it was a lead but they didn't have any scoring or any information with which to have a valid conversation. So then what happens when, if you try to jump right into an attempted conversion without learning, without seeing the behavior. You see, there has to be a strategic response to what your customer is doing, or what the lead is doing. And once you see what the lead is doing and you see the behavior the lead exhibits, then you have a strategic response. Jumping right into the phone call to close the deal, you're jumping a little too fast.

5.8 Lead Scoring

And this is why lead scoring has become such an important factor in terms of closing the deal and developing that end game strategy. Because at what point should you contact a lead? How much behavior should they exhibit? How much interaction and engagement should they show before you finally make that phone call? And so, for example, based on the explicit data that we've received, the name of the lead, the company they work for, the revenue, their decision making capabilities, what products they're looking for. And then, what do they view on the website? How many pages have they viewed? Are they pages in this category? Have they looked at the price comparison page? Have they looked at the case study pages? And so in lead scoring by identifying what's the value of what someone does, and what's the value of their engagement factors, and then we add them all up. What it comes down to is the question is, if you have to make that call to a lead, do you want to call someone who has only scored ten points in a least scoring matrix? Or do you want to call someone who has scored about 60 to 80 points? Which phone call would you rather make? You see, that's why the power of marketing automation, the measurement of people's responses, allows you to strategically decide at what point do we have enough information and has that lead shown enough reaction and enough engagement that we're safe calling them. And I use the word safe because that implies that the phone call won't be a surprise. In fact, they may even expect it. Sometimes I even receive an email that says, we'd like to set up a call. We see that you have been very engaged with our website and our content, and we'd like to answer any additional questions. And so, even before just picking up the phone, that email only goes out to high scoring leads.

5.9 Lead Data

And what happens when you use a lead scoring matrix looking at all the strategic reactions and the scoring of each lead? Immediately you have something in common. You can build rapport with a lead simply because you know you know the information upfront. You know what they're looking for, you know what's important to them. You don't have to waste time on the phone call making introductions to the company and what you do because it's already established. The questions that you ask on the phone call can be very pointed, very specific, not open ended. Forcing your lead to make things up or maybe not even have any questions at all because this was a total surprise to them. So you can be very specific because you've got a lot of data from the lead scoring. You can look at what segment they're in and ask them particular questions according to them and their situation in that segment. You can also ask for additional information that they are probably more willing to give, because they have received a lot of value out of the relationship already. This is the critical importance of marketing automation, of lead scoring, and of developing those strategic reactions so that you can plan the endgame. What does the endgame look like? And when you have all of this information and you're able to pull up a customer's record, interact with them and know that you have data that you can use to initiate the conversation, to guide the conversation. That's going to build trust because then as someone who's on the other end of the phone I already know this company. I've downloaded multiple things, I've been to the site multiple times, and I know that they know that. And so it builds trust that they are respecting my time, they are respecting the content that I've read and that I know specific information. And I can honestly say companies that follow this just from my own personal experience, it's a much better phone call. Why, because we know each other. They know me from the behavior and engagement that I've exhibited and I know them from all of the content that I've downloaded, read, engaged with, watched videos on. And so we can have a very honest adult conversation about where are we going to go and what's the end game going to be? This has been Marketing Automation and Automation Pathway with Matt Bailey.

  • Disclaimer
  • PMP, PMI, PMBOK, CAPM, PgMP, PfMP, ACP, PBA, RMP, SP, and OPM3 are registered marks of the Project Management Institute, Inc.

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