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2018 Salesforce Lightning Migration for Marketers

In March 2018, Salesforce will soon stop support of bug fixes within their classic version of CRM, moving toward the next generation capabilities.  Client wise, we’ve begun helping some organizations make the move over to Lightning, though clearly it is very early days of such a move.
There are several sales and marketing benefits of such a migration – better visualization, cleaner account level hierarchies, improved productivity with fewer clicks to name a few benefits.  Marketers will need to make sure their marketing automation software can in fact be used properly in Lightning as several have the classic application installed.
Before embarking on a migration, there are key questions to ask internally before making a switch:
  1. What is your business objective of a migration (e.g. sales cloud to improve sales performance, service cloud to improve support perf., etc.)?
  2. How documented are your existing sales and marketing processes?
    • How accurate and optimized are those processes?  This will help speed up an installation (and give an opportunity to freshen up an old set of sales processes).
  3. How are you thinking of this as a migration strategy – a fresh brand new instance or a migrated classic one?  This impacts strategy/timing and marketing.
  4. How much customization in terms of SFDC custom objects in Classic exist?   That will impact time to convert as custom object migration is more challenging.
  5. How proficient are your internal resources at JavaScript understanding?  That could impact time to migrate from an existing classic instance to Lightning.

What are you seeing in terms of 2018 migration plans?

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GDPR – Sales & Marketing impact

(Please also consult your internal counsel and data privacy officer for how your company should approach GDPR (General Data Protection Regulation)).

 

While there are several strict laws of data privacy throughout the globe to include countries like Canada, Australia, and China, GDPR is a European-wide framework that is the strictest treatment of data globally and is consistent pan Europe effective May 25, 2018. GDPR enforces accountability for ANY company selling or marketing into Europe and emphasizes the collection and processing of data.  This law impacts all companies, and their sales’ and marketers’ communication.

If you are a company considering implementing GDPR, there are several business advantages to following this law:

  • With clean, opt in data, better chance of demonstrating meaningful metrics internally
  • Improved targeting for selling and nurturing purposes
  • Less infrastructure carrying cost on dead contacts or contacts that have no conversion chance
  • By following the law, there is no 4% penalty on global revenues that could be assessed

There are several elements of GDPR legally to abide by, but the two largest concerns are making sure that Individuals give consent to data use and that the 3rd party has a legitimate interest, this link shows examples of the definition of legitimate interest.

 

Tips for planning for GDPR:

  • A plan should be put in place around the collection and storage of information that can identify the person, such as IP address, first name, last name, mobile numbers, and phone numbers among other information.
  • The company itself is accountable for GDPR compliance regardless of whether the data was sourced by a 3rd party or not, so it’s important to understand how data is collected and how it is processed.
  • It is critical that the marketer think through opt-in procedures, updates preference centers, and ensures sure that sales and marketing systems are properly processing data consistent with this new law.
  • The law also includes unstructured data – for example, an email that is sent from Outlook must ensure that the individual receiving the email has consented to receiving information.
  • A double opt in email approach is highly recommended as best in class way of ensuring clean data practices and is more likely found in a marketing automation system than in that of a sales automation system.
  • Data input from 3rd party sources, whether purchased lists or through trade show uploads require specialized treatment from a data governance perspective.
  • Consider a double opt in approach for all events, as an example of this special data governance treatment.
  • Some sales technologies enable phone calls to be recorded and collected. Explicit consent will be required to record phone calls.  You should clearly communicate to customers why their data is being requested for collection and how you intend to use it in any future activities.
  • Other outbound phone calls must not be listed on a ‘do not call list.’ Other calls must give explicit permission for follow up communication to occur.
  • Lastly, it is important that all tools are in compliance to governance – which would include sales automation tools (Outreach, Salesloft, etc.) as well as marketing automation tools. Marketers, make sure your sales team is compliant with their email automation tools.

The future around e-privacy and cookies is likely the next law to come out next.  It is an exciting time to be in Sales and Marketing in 2018!

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What’s The Impact Of The New Demand Unit Waterfall?

As published in DemandGen Reports, May 2017

By Jon Russo, Founder B2B Fusion, @b2bcmo

For B2B revenue leaders that are contemplating adoption of the new SiriusDecision’s Demand Unit Waterfall, here are five impact areas on B2B strategies and initiatives to consider:

  1. Develop a data strategy: install proper data processes, match leads to accounts (Ringlead, Full Circle, Lean Data, etc.) and establish the right global account hierarchies. After Fuze CMO Brian Kardon and his team invested significant time and energy in a data strategy, his team experienced massive growth success.
  1. Embrace an Account Based approach. CMO Peter Herbert of VersionOne describes his very successful Account Based journey as, “real progress B2B revenue teams are making towards a more intelligent, proactive, and efficient way of going to market.”  This new approach reinforces a need for an ABM strategy of account identification and investments (Engagio, DemandBase, Radius, Everstring, Oceanos, Terminus, Kwanzoo, Big Willow, etc.)
  1. Align and measure. Herbert says, “B2B teams are shifting from working in silos to capture and handoff leads to working together to engage — in a more compelling way.”  Build supporting Salesforce structures, data lakes with Business Intelligence overlays like Anish Jariwala at Informatica has created, or leverage tools that measure most of this new waterfall (Engagio, Full Circle Insights, etc.)
  1. Select attributes of the buying committee but...anticipate challenges identifying the right buying authorities from scouts or key influencers, especially if roles change deal to deal. Expect assumptions and manual intervention as Sales uses Salesforce contact roles sparingly, Marketers create personas, and roles change.
  1. Retain the right internal and external talent to support this new waterfall and maximize technology investment ROI. Augment internal teams with knowledgeable external sales and marketing performance firms that extend internal strategy reach and best practice system capabilities to improve odds of visible success and to move in a more agile manner.
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Marketing Automation @BMA

 

Here is my hour presentation that I reviewed with 30 others at the New Jersey BMA on Marketing Automation.

This video slide deck is condensed down to 4 minutes.  Note the emphasis I put on data – data is at the heart of a successful revenue acquisition technology like marketing automation or predictive analytics.

Let me know what you think!

 

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Marketing Tech Investments: Beyond Silicon Valley

This past week, I facilitated another round table discussion with twenty business to business digital leaders as part of the Marketing Operations Cross Company Alliance (MOCCA) group.   Companies represented ranged from large companies like CA Technologies, SAP, and MetLife, to smaller companies like Talkpoint (acq. PGi) and XLGroup.  We also had a technology venture managing partner join our round table discussion.

One topic of conversation was the recent VentureBeat article citing @chiefmartec Scott Brinker’s landscape of marketing technology.  Scott presented this chart to us in our last meeting so we had context.  We asked the question to the group – ‘are 1400 marketing technology vendors sustainable as an overall market?’

Market expansion responses:

  • The marketing technology company quantity will double (to 2800) because the pace of innovation is moving fast
  • Big companies (Oracle, SAP, SFDC) can’t innovate, therefore big companies will acquire so there will be a need for smaller companies continuously
  • To be competitive today, the advantage in the market is that of speed as value propositions blur – and technology enables that speed edge, so the market will continue to expand to get faster
  • It is a game of arbitrage – once all competitors buy a technology (like predictive analytics), they no longer have that advantage so they’ll seek new technology to go faster
  • Salesforce.com has the app exchange with thousands of companies, marketing is no different with Marketo with Launchpoint

Market contraction responses:

  • Technology has changed so fast, it is starting to outstrip the organization’s ability to respond and keep up
  • I spend my day dodging calls and emails from marketing technology vendors unless that vendor has something really unique I should look at
  • My budget is staying relatively flat, there is only so much technology I can invest in credibly and present to my boss
  • My companies priorities shape how I’m able to absorb marketing technology and we can barely get done what we need to get done
  • I check to see how long a vendor has been in business because I want to make sure they are sustainable for the long term

Based on my own experiences as a head of marketing in Silicon Valley and NYC companies for 10 years and recent discussions with my enterprise clients, I bend toward a market contraction.

  • Some companies will fade away completely and be replaced by newer innovations with the overall pool of companies remaining the same at first, slowly contracting with either exits through larger companies or exits because of lack of revenue.
  • While somewhat obvious, Silicon Valley companies are more likely to be industry leading in terms of their investment threshold for new marketing technologies as they are more apt to pilot/test and risk success;
  • East coast companies are a very different beast both in organizational risk appetite as well as the importance of marketing as part of the sales process.  It is likely east coast companies will need to digest what is in front of them now technology wise and prove ROI on existing investments before getting too far ahead on net new investments.

An area of opportunity is for one vendor to bring order to chaos, by simplifying one interface to get multiple tools to work together properly and coherently.

One thing we all agree on, there is no better time to be an enterprise marketer.

How do you see the technology marketing market shaping up?

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3 Enterprise Takeaways from SiriusDecisions Summit

This was posted on Oracle’s Blog this past week.  Reposting if you missed it.

——————————-

Today’s post comes courtesy of Jon Russo, founder of B2B Fusion, an agency that focuses exclusively on modernizing old demand generation practices to new to drive more revenue for clients like Thomson Reuters, Level(3) Communications, and Blackboard, among others. Jon serves on the Board of Directors for MOCCA, the leading enterprise association for Marketing Operations professionals. Prior to founding B2B Fusion, Jon held global CMO roles for 10 years in private and public technology companies in Silicon Valley, NYC, and Luxembourg.

This week in Orlando, 2,000 attendees had the opportunity to participate in the SiriusDecisions Summit, the granddaddy conference for the B2B marketing industry. Sirius analysts presented eight new frameworks and enterprise clients shared success stories, each group illustrating paths toward transformational growth for 2014 and beyond.

So what are the new themes from enterprises this year versus the seven prior conference years that I’ve attended?  Here are three new 2014 themes that emerged from the enterprise discussions:

1. Think globally, act locally. Enterprise presenters took a global planning approach to their demand planning versus more North America centric presenters of years past, possibly because companies see more growth in markets outside of North America. Polycom CMO Jim Kruger leveraged regional team presenters by sharing a global success story of installing an inquiry to opportunity process. Joseph Puthussery, Vice President of Demand Generation for Cisco, invested four years in architecting and building a global demand center, began his planning efforts in London, and leveraged successes within each global theater of operation.  Joseph previously ran APAC marketing efforts for Cisco from Singapore and emphasized how important it was to get outside of headquarters to think through architecting a demand center.

2. Data is foundational to true business insights. Pete Koliopoulos, Vice President of Marketing for Arrow Electronics, provided an incredibly thoughtful approach to Arrow’s data governance strategy to help elevate marketing to a true business partner. He presented screenshots of a whitespace report with product penetration by channel account, which enabled sales and marketing to drive campaign strategies to attack the whitespace. Arrow cleansed its internal owned data, appended external DUNs hierarchy data, and applied proper data governance to get to the dashboard destination.  Data strategy is often overlooked in other enterprises as executives overlook the impact data strategy has on sales & marketing productivity and business insights.

3. Marketing & Sales pivot toward a predictable science versus pure art. CMO Jim Bell of Jaspersoft and Vice President of Demand Marketing Meagen Eisenberg of Docusign proved how SaaS marketing has become more predictable than that of years past. SaaS companies have a clear advantage over other older enterprise companies as SaaS typically target new markets, deploy state of the art sales/marketing tools to attack those markets, and pinpoint customer retention trends in cohort clusters.

Jim illustrated how in a smaller organization, he doubled the inquiry to close rate from his baseline by installing rigor around funnel definition and discipline around the process.

Meagen explained how she leveraged intelligence from Docusign’s 90 nurture tracks, 20+ personas, and analytic/data vendors like Lattice Engines and Mintigo. Scott Barmmer, Meagen’s sales counterpart, commented how marketing brings an informed point of view to the conversation, one that has evolved and interpreted versus just presenting data. This interpretation leads to greater trust in the evolving sales and marketing relationship.

It was an exciting 2014 conference filled with another year of terrific networking and great enterprise audience growth from years past!  What can we expect in 2015 and beyond?  None of the presenters focused much energy on the success or impact of mobile initiatives; perhaps mobility will be an emerging theme in 2015.

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The Many Faces of Marketing Automation

(Reposted from DemandGenReports Blog)

 

When I recently attended Oracle’s Marketing Cloud kickoff event, where Oracle COO Mark Hurd gave his presentation to 100 of us, we had a chance to ask him questions at the conclusion. My question for him was, “how are you using Eloqua internally, what is your use case and roadmap vision?”

There were multiple use cases shared for marketing automation, each requiring different elements from their CRM or end users depending on the type of company. Let’s take a look at three of those models.

Model 1: Share of Wallet – Hurd said Oracle already has 400,000 global accounts, and doubted that he could expand that to 800,000. However, given that Oracle has been acquiring companies rapidly, Hurd said his objective now is to infuse other Oracle products into the company’s existing 400,000 client base via his newly acquired company, Eloqua.

For large, global enterprise companies, marketing comes down to the share-of-wallet, and gaining more spend from existing clients with products other than the core product. It’s about nurturing the relationships you already have, finding out what products they’re missing within the vendor portfolio, and working to expand the size of the accounts. In each of these scenarios, having the proper product information structured properly in the CRM system is critical and an often overlooked area. Duplicate accounts or contacts, sometimes caused by ERP systems, crush a marketer’s ability to properly upsell and cross sell.

Model 2: Market Share – Smaller organizations, by contrast, are typically concerned with gaining rapid market share. Their marketing efforts are more top-of-the-funnel oriented, with efforts aimed at expanding their client base. For SaaS companies in particular, they may extend offers, trials, and freemiums via marketing automation, dripping those freemiums into qualified opportunities at the right time. It is critical to set up the campaign integration with CRM properly in this scenario as well as a consistent campaign naming hierarchy such that campaign performance can be later analyzed to see what campaigns are driving conversions.

Model 3: Customer retention – Customer retention is a function found in both large organizations and in smaller SaaS companies. It’s oftentimes overlooked by marketers who prioritize how much revenue is being sourced or influenced.  CRM information on current contracts and products are critical, and are the ideal fields that indicate product usage so that nurturing can be based off renewal dates or usage (or lack thereof). Of the enterprises I’ve inspected, this area has the most upside potential for marketers to impact, yet it is very challenging for marketers to measure overall effectiveness.

There are a number of different ways marketing automation can be shaped to solve business challenges in the enterprise. What are you seeing?

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Gap Analysis – Marketing Automation

A colleague asked me to compare and contrast what marketing automation deployments we’ve seen prospect and customer wise – what their use case is relative to the gap with best practices.

To execute on a need he had committed to a client, I came up with the following list for him to consider.

Symptoms of enterprises struggling with marketing automation – marketing automation has (been):

  • Referenced internally as a ‘Ferrari in the garage collecting dust’
  • Perceived as a ‘black box’ to non-marketing executives who don’t understand its impact
  • Delivered a ‘Batch and Blast’ or large quantity of email experience, alienating subscribers
  • Enabled a first generation lead scoring model that has little, if any, business impact
  • Amplified non-standardized CRM data, thus frustrated sales and marketing users
  • Underutilized relative to installed customer base

What marketing automation should be or do potential wise:

  • Improves conversions by keeping in touch with not now, maybe later buyers
  • Delivers relevant and targeted personalized content to end users to engage at the right time vs. all of the time
  • Accelerates reporting ability when working properly with CRM, thus is transparent value vs. black box value
  • Minimizes non-standard data to maximize deliverability impact
  • Enables inside sales and sales prioritize workload via effective lead scoring model
  • Provides cross sell /up sell capabilities to an installed base

I think a better question to ask in framing this entire situation is around the use case – what is the business problem you are trying to solve with marketing automation?  From that point with the end in mind, marketing automation can then be deployed and configured to address your business needs vs. deploying against its technical capabilities.

What do you think?

by Jon Russo Jon Russo No Comments

Leads, Big Data and Trust

(This was recently published by the Argyle Group targeting 4000 CMOs globally.)

70 percent or more of marketing business to business leads aren’t being followed up by sales. And the reason is trust. Establishing trust — the moment that you believe the salesperson understands your problem and the solution they are pitching makes sense — is normally associated with customer relationships. Instead, what I’m talking about are the leads marketing “sells” to sales.

According to a commissioned study by Dunn & Bradstreet, three quarters of sales reps and sales operations managers say that they need deep, accurate information to be more successful in their job. However, most salespeople assess marketing qualified leads with cynicism. The lead data, everything needed to understand the company and decision maker, is perceived to be incomplete, out-of-date or inaccurate — often rightly so.

When the quality of the lead data is questioned, marketing efforts are undermined and CRM and sales force automation systems go underutilized. One part of the problem is that there often are several data sources, such as legacy CRM systems, procured third-party profiles, and digital behavior gleaned by tracking responses to digital marketing programs. Each of these sources provides differing customer information, but no single source delivers a complete, insightful profile.

Enter Big Data and the thickening bond between CIOs and CMOs. CIOs are tasked with integrating Big Data, in its different structured and unstructured forms, and churning out actionable information. CMOs can then apply data analytics to paint a true 360-degree picture of a prospect to feed into enterprise CRM systems, with knowledge bases continuously updated using technologies developed to manage Big Data.

It can be done, and in fact recently has been done by Level 3 Communications. SVP of Marketing Maggie Chan Jones and her team drove an initiative in which more than 90 million records from multiple sources were combined. And by partnering with Mark Martinet (CIO of Level 3) on the project roadmap, the solution ensures that same dataset will flow across multiple systems and platforms. Consequently, everyone sees the market and customers through the same lens. Sales has the key segment attributes and in-depth customer insight they need to reach out with the right information at the right time, and marketing can execute more carefully, with on-target messaging that creates better return on their investments into automated tools and content.

What can’t be lost sight of is how customers and prospects benefit. In light of the changing nature of sales cycles, it’s more important than ever for sales to know what makes sense to offer and when, so that everyone’s time is put to best use.

Success instills trust — between sales and marketing, and between your company and your customers. Big Data can help make it happen, you just need to turn the data into information.

BIO:

Jon Russo is a three time B2B Chief Marketing Officer in global companies ranging from former divisions of General Electric to successful Silicon Valley start-ups. He currently runs B2B Fusion Group, a vendor neutral business helping business-to-business sales and marketing leaders accelerate revenue growth by connecting marketing investment to new revenue opportunities. His clients include Level 3, SAP and IEEE, among others. He can be found on Twitter @b2bcmo.

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2013: Great Expectations For Marketing ROI

Here is my brief view of what to expect in 2013.

During 2013, organizations will demand significantly more revenue value out of their existing sales and marketing ecosystem investments including CRM, Marketing Automation, and list acquisition purchases.  Non-marketing executives at these firms will demand greater accountability for return on these investments.

 

As a result, marketers will need the ability to execute campaigns with surgical precision and to tie their marketing investments explicitly to ROI. This includes:

 

Generating more qualified leads. Successful marketers can and should claim the lion’s share of leads that close to revenue within their organizations. Focus here on the details: standardizing data fields within CRM and marketing automation systems, for example, is critical to proper segmentation and targeting. Data-driven segmentation is especially critical to executing targeted campaigns and increasing ROI.

 

Optimizing business processes. Many companies use less than 10% of their marketing automation capabilities because they haven’t deployed these tools effectively. That’s why it’s so important to map every aspect of your customer acquisition and onboarding process – from inquiry to close and beyond – to and through your CRM and marketing automation tools.

 

Connecting marketing activity to new revenue. An entire industry has evolved around the ability to measure marketing-sourced and marketing-influenced revenue – and to extend these analytics far beyond what’s available from an out-of-the-box CRM or marketing automation system. It’s hard to overstate the importance of these tools; their power lies in their ability to give executives “one view of the truth” for reporting sales and marketing ROI.

 

Organizations that put together these pieces and execute a revenue-driven marketing strategy will have a far more successful 2013 than those that don’t.

 

What do you think will happen?