Over the past several years, supporting several Enterprise clients in diversified industries like Medicine, Retail (B2C), Advertising, Finance, Technology, Government etc., with everyone's different and unique business cases/processes, has given me an opportunity to look and understand in-depth at the clients' use cases.
Specifically the Marketing goals - strategically and operationally - has provided me with a different view and how efficiently these can be achieved in a competitive market impacting their revenue.
One of the main goals I have seen over time is increasing the revenue for the Sales Team and how to effectively get high quality leads.
This is the scenario I was dealing with an Enterprise client.
- Main challenges we faced were:
- poor deliverability metrics
- low Clickthrough & Open rates
- high bounceback rates.
- The data was very inconsistent & non-standardized, junk data (for eg: firstname.lastname@example.org), very low Profile field completeness.
- Marketing budget was limited to ~$2M/year, and was already over-budget. We had to bring this down so it would not impact the renewal.
- Where are the contacts flowing in the DB from? No defined process.
- How can we effectively document and create a process flow to monitor this?
- Sales Team had complaints about low quality leads.
Goals set at the start:
These are some of the goals that were created at the beginning of the discussions and the project to effectively monitor the outcome and the end goals.
Audit the existing processes and roles of Marketing Operations users.
- What's working and what's not?
Discussion on what should we do that the renewal is not at stake?
- Improve metrics and deliverability rates.
- Document and analyze the quarterly revenues and what % of that revenue was directly related to the Marketing Team.
Create automation Programs for high data quality and not just "Garbage In = Garbage Out"!
- Implement the Contact Data Washing Machine app.
- Reporting strategy to effectively monitor the weekly performance of the campaigns
Benchmark current state:
I had to run several reports from Insight (Email Analysis Overview and Campaign Analysis Overview) and found that the hard bounceback numbers were consistently over 35% for majority of the Campaigns.
Some Marketing users were just uploading lists without verifying the audience from the 3rd party agency.
- Know your audience? I did an analysis of the segments and based on the data found that some contacts were just sent multiple emails in a week and some were sent emails over months.
- Why is the audience not engaging? Broken links and not too compelling email subject lines were a factor for the contacts not opening up the emails or clicking on broken links was driving low clickthrough rates.
The next strategy was what is being done once the Campaign has been deployed.
- What is the end goal for deploying certain campaigns, since some were for product awareness vs promotions. So this led to differentiation of campaign types and determine if it was just certain campaigns that was driving this overall challenge.
- There is a Marketing - Sales gap, there were no meetings or discussions between these 2 Teams.
- Sales Team acknowledged that the leads that were being passed from Eloqua were not very high quality leads or the leads passed at times were not engaging.
Initiatives taken and steps followed to implement:
One of the 1st steps taken was analysis of all the hard-bouncebacks in the DB for a certain period, reviewed and filtered on why they were marked as a hard bounceback. These contacts were exported and saved on the data warehouse in case we need to refer them back rather than just delete them out completely, since once deleted they cannot be retrieved. The database had over 4 million hard bouncebacks; we did not want to just delete all of them at once prior to a deeper analysis of these contacts.
We created a Program in the Program Builder, which did a series of checks on the contacts like: is it part of a certain shared list, is it unsubscribed, invalid field data for certain fields etc.
Once the process was determined on which contacts could be deleted from the system, I built the Program accordingly to remove 100K contacts every 2 hours.
- Setup Contact Data Washing machine app in a Program which checks for curse words in certain fields. It is helping us keep clean data with accurate scoring and personalization. What we found after several campaigns that the quality of leads has improved.
- This is not just for the regular standardizing but also added steps to append data to the Contacts.
- Marketing Users were assigned with roles on who would be adding new contacts and uploading those contacts to the DB. Permissions were re-configured and security groups were re-configured. This has led to Marketing roles being more defined.
- Insight reports scheduled to be sent out on a weekly basis on the performance of the previous week's KPI's to the executive Team. These reports are then merged into master report for an overview of weekly performance.
- Implemented Progressive Profiling - this has helped with higher percentage of Profile Completeness. Gradually built up the contact's profile information (now we know the audience).
We did an analysis of In-active contacts, especially those who were not engaged within the past 1 year. These contacts were added to 4 different shared filters based on the region and will be re-engaged to check if their business needs have changed.
Impact to the business:
With a focus on the end goals and precise objectives, I was able to properly plan and execute on it from the best practices I have learnt. This has tremendously helped me achieve these measurable metrics.
I would like to highlight them below:
- Approximately 3 million hard bounceback and in-active contacts were removed from Eloqua.
- The Program is active today and removes hard bouncebacks on a consistent basis on a set criteria. Automation at it's best!
- Hard bounceback rate is consistently under 2%
- The renewal was easy since we knew the business needs on how many contacts were needed and as per the forecast created.
- Increased Sales conversion leading to increased Revenue. Revenue has increased 11% for the past 2 quarters.
- Significant 30% increase in qualified leads to the Sales Teams.
- We have seen high quality contacts (engaging and we know the audience) that are segmented.
- These are targeted accurately with an increased Engagement.
Marketing Cloud Courses that helped:
By utilizing the best practices of OMC Academy courses it has helped me achieve these goals, especially:
- B2B: Targeting
- B2B: Analysis
- B2B: RPM
- B2B: Program Canvas