Tag Archives: demandbase

Abandon Your Marketing Automation System!?

I’m working on an interesting project right now: moving away from a marketing automation system. The plan is to go back to using only Salesforce.com with some cheap add-on tools for email, form submission and data quality. Smart or foolish? I’d love to have your input on the potential pitfalls (and benefits) of this approach.

Background

The company in question has used a comprehensive marketing automation system for about 2 years. In the early days it was used to sift through hundreds of new B2B leads per day to identify the valuable leads. This changed over time: now the focus has shifted to pro-active outreach to a handful of executives, instead of targeting thousands of software developers. In addition to cost savings, the thinking is that a full-blown marketing automation system just makes less sense with the new strategy.

How to Replace a Marketing Automation System?

My first reaction was: no way, you should not want to do without any type of marketing automation system (for simplicity sake, I use this term as synonymous to demand generation and lead management). However, when I started looking into Salesforce.com and the wide variety of add-ons, I was less convinced. The Salesforce.com database has some big issues (e.g. the split between Leads and Contacts), but many 3rd party tools are addressing these weaknesses.

What is easy to replace?

Email marketing that integrates with Salesforce.com is provided by many vendors, like VerticalResponse, Boomerang, ExactTarget, Genius, Lyris and more. There are also some relatively affordable registration form vendors, like FormAssembly and OnDialog. Basic lead scoring features are built into Salesforce.com, and data quality tools are available from vendors like Ringlead, CRM Fusion and Datatrim. Notifications of companies visiting your website are available from Leadlander, Netfactor, LEADSExplorer and DemandBase. You can create reports and dashboards in Salesforce.com to provide analytics. So there are lots of useful add-ons available at a nominal price.

What Is Going to Be Missed…

Some Email Service Providers can send email on behalf of the record owner or can handle drip-campaigns, but those are exceptions and you sometimes pay quite a bit more for these advanced features. Unsubscribe handling is typically done via a generic page, rather than via branded page.

If you use a basic form vendor, you have to manually map the fields, and put the form on a landing page yourself. You may want to pre-fill the form, or send a thank-you email or the start of an email drip campaign: this is not always possible. Also, some form vendors are not able to append to existing records (resulting in duplicates) or to link new registrations to a Salesforce.com campaign.

Lead scoring based on attributes (e.g. job title) is built into Salesforce.com, but that does not include activity-based scoring, such scoring based on website visitors, clicks on links in emails or form submissions.

Even though you can get reports on anonymous visitors via stand-alone tools, it’s much more work to set up notifications of website visits by known users, and even more challenging to sync that information with Salesforce.com.

Then there are specific usage scenarios that are automated in a marketing automation system, such sending a reminder to non-registrants for an event: with the new approach this needs to be done manually, which takes a lot more time.

Most marketing automation systems replicate the Salesforce.com database with their own database: in the new situation everything is stored in Salesforce.com (or at least: that’s the goal). That is great for manageability, but – if you have the habit of qualifying leads before sending them to the CRM system – you now have a database full with unqualified leads.

What Is Your Take?

This project is still in the planning phase, so I’m still compiling a list of all the pros and cons. One thing is sure: in the new situation the monthly cost will be about $200, down from well over a thousand dollars. That is a significant savings.

But how much more time will it cost to manage the new situation? Are there specific features that create revenue, but simply cannot be implemented with the new approach. What is your take on this?

Sales Intelligence: Track (Down) Website Visitors

The Challenge: you’ve invested in PR, Search Engine Optimization, Pay-per-Click ads to drive people to your website. A lot of people visit, they read a couple of pages, and then they leave. A lost opportunity…

ActiveConversion, an SMB lead management automation vendor, has a solution.  I stumbled upon their press release offering free Jigsaw data, and Fred Yee clarified: “If company ABC comes to your website, a simple mouseover in ActiveConversion will display ABC’s revenue range, employee size, industry etc. There are 2 million data records for companies in Jigsaw’s database, so it covers a lot of companies.”

And then you can decide to search Jigsaw to buy actual contact data of people with the right job titles within company ABC. For those who don’t know Jigsaw: it’s a business card exchange service, so their users contribute and rate the contact details. The result is that the data is reasonably up to date, they have a lot of different job titles (not just C-level and VPs) and it often includes direct-dial phone numbers and email addresses.

How does ActiveConversion know the company name of website visitors? Actually, the IP address of website visitors gives away more information than most people realize. Maxmind’s GeoIP product, for example, can identify the city, company name and even the connection speed, all based on the IP address. Try it out yourself: go to whatismyipaddress.com, copy your IP address and paste it into the box on maxmind.com, then press “get location”.

One of the first companies that offered daily reports of companies visiting your website was Leadlander. They can send your sales people a daily email with a list of company names and location. The main challenge that remains: you don’t know which person is on your website, just the company name. So who are you going to call?

That’s where the Jigsaw data can help. It’s still a bit of a guess, but at least you have names, job titles and phone numbers.

Demandbase Stream Another vendor is this space is Demandbase. Unlike ActiveConversion they don’t have a full lead management system, but they specialize in identifying anonymous website visitors and providing contact data for people within those companies. They use multiple data sources, like D&B and Hoovers. I’ve not been very lucky finding useful contacts myself: they seemed to have a bias towards C-level and VP-level executives, but I could be wrong.

However, Demandbase offers useful filters so you can focus on those website visitors that are important to you. You can enter specific company names or territories. I’m not sure if Demandbase offers this, but  it would also be interesting to filter by pages visited and search terms used in Google: that’s all part of the “Digital Body Language”.

Still I wonder how actionable the information is. Regardless of whether you get it through ActiveConversion and Jigsaw or through Demandbase: what is the chance that you can actually locate and contact the right person? My gut feeling is that it’s a very low chance.

Why don’t they offer an option to chat while they the visitor is still on the website? That is a proven methodology in the consumer space that I haven’t seen very often in the B2B space. Maybe because it’s hard to ensure timely response. As a matter of fact, I used chat on the Jigsaw website last week, and nobody responded, and I waited for 30 minutes. I had a better experience on the Hoovers website, with immediate response and good-quality answers.

Alternatively, you could put more attractive offers on your website and promote those more effectively: this will increase the number of registrations. I have seen very few B2B companies actively test and optimize their online conversion rates (other than for PPC landing pages). So that may be a relatively quick win, rather than try to call people who may have visited your website.

My feeling at this time: first try to get more people to register on your website by improving the call-to-actions, then add chat if you have enough people to staff it, and only then I would consider real-time lead monitoring. At this time, it’s just not actionable enough.

What is your experience with Leadlander, Demandbase and ActiveConversion? Did you actually identify opportunities that you would have missed otherwise?

What is a Demand Generation System?

Last year Laura Ramos, the B2B Marketing guru at Forrester, stated that the lead management automation market was confusing. There are many players, and many sub-categories. Demand Generation is probably the most confusing, it can mean two things:

  • Software or services that get you in touch with new prospects so you can fill your database; this could be Search Engine Optimization (Hubspot), telesales (Phone Works) or contact databases (Demandbase, Jigsaw)
  • But it can also mean: software that automates the lead management process once leads have arrived on your website, or are already in your database (Eloqua, Marketo, Market2Lead, etc.)

If I understand it correctly, Laura uses the first definition, while Eloqua – the leading lead management automation firm – often uses the second definition. Also, David Raab publishes the Guide to Demand Generation Systems, covering Eloqua, Vtrenz, Marketo, Manticore Technology and Market2Lead, which clearly fall within the second definition.

I must side with Laura: Eloqua and similar systems do not generate demand, they primarily manage leads (in a very elaborate way though :- )

So my suggestion: replace all instances of Demand Generation System with Lead Management System!

Does that makes sense or not?