How to 12x your marketing ROI
Adam Oldfield Founder of Force24 (2010 - present) 20 years + supporting marketing departments With 4,000 users – and counting. 2019 was a big year, with the team announcing it had reached the £5m organic investment milestone in September, and 682 updates rolled out to the expanding client base since January alone. Net recurring revenue is reported to have risen by 80% when compared to 2017 figures, user adoption is up 300% and 400 trillion data exchanges are now handled through the technology, per annum.
Free training and support for life Force24 is the biggest and best UK based marketing automation platform - you’ve never heard of. On behalf of our clients… We send over 190 million emails per month. 4000+ marketers rely on the Force24 platform each day. We manage thousands of highly personalised journeys. On an average day we monitor over 20,000 web interactions per min. Update 1,500,000 lead scores each day.
Free training and support for life Free training and Support for life The Challenge Marketers are faced with a world of conflicting information, often supplied without evidence and an agenda. Who should we trust? The Challenge
Free training and Support for life Free training and support for life The Problem Most marketers are still using, largely, the same tools and metrics in a more demanding, more challenging environment. The Problem
Free training and Support for life Free training and support for life Setting the scene. Some important aspects to take note of… Let’s Build The Scene
Free training and Support for life Free training and support for life The path of least resistance A constant struggle to improve efficiency. Force24 internal marketing guidelines: Data segmentation - 0 min Email templates - 5 min Landing pages - 15 min Content…all the time in the world But first..
Free training and support for life Free training and Support for life To 12 x you must be able to measure! Every little step counts, but measuring the right thing is important. Take a look at our guide, Killer Marketing Metrics of 2018 www.force24.co.uk/lab/downloads/ But first..
Free training and Support for life Free training and support for life You must have the right tools for the job Can you lead score? Can you escalate opportunities to the sales team? Can you build micro-sites? Can you build automated journeys? But first..
Free training and Support for life Free training and support for life You must embrace your email delivery role Only 33% of email deliverability is a platform vendors role, the other 67% is down to you: • List hygiene • Engagement segmentation • Mailing practices • Delivery speed But first..
Free training and Support for life Free training and support for life Get to know your base Understand optimal send windows. For B2B, we favour a slow and steady delivery window during the working week: 8.00am-4pm Monday to Friday. Our stats show emails sent before 8am receive a lower inbox position when the user arrives at work, and as a result, open rates are slightly lower. Also, at the end of the day we find a 4pm cut off is optimal. A single school of thought in b2b scheduling is to aim for the inbox quiet times, i.e. 8.30pm -10pm or Sunday morning 7am-9am. For B2C, we extend this window slightly to 7am – 7pm Monday to Friday and 7am-11am Saturday and Sunday. But first..
Free training and Support for life Free training and support for life 70 180 10 42 15 23 6 steps to 12 x your marketing ROI 12x
Free training and support for life Free training and Support for life STEP 1: Have a clear objective But first..
Free training and Support for life Free training and support for life You must have a clear objective outlined for your campaign and understand what you want your contacts to do. The usual stuff… Get more leads Sell more stuff Needs to become… Increase base lead score in northern contacts Educate lapsed customers about new products Warm up cold contacts Clear objective
Free training and Support for life Free training and support for life Once you understand your objectives, you can ensure your artwork and collateral has a laser beam focus on what you want to achieve. Clear objective
Free training and Support for life Free training and support for life STEP 2: Understand the sales funnel 12x
Free training and Support for life Free training and support for life The sales funnel helps you understand the point at which you should act. What is your plan to optimise the opportunities… Total Base Non and passive engagers Low level engagers Mid level engagers High level engagers Enquiries 25 50 75 100 Lead score is an essential component in this step Clear objective
Free training and Support for life Free training and support for life The Force24 sales funnel is designed to maximise the opportunities Audience Definition Action Non and passive engagers No activity or lead score less than 10 Do nothing Low level engagers Lead score 10-40 Use digital retargeting Mid level engagers Leadscore 40-70 Push to sales team High level engagers Leadscore 70+ Expedite for sales call Enquiries Expedite for sales call Clear objective
Free training and Support for life Free training and support for life Let’s look at the net effect of the escalation, is it worth it? Source Approx. qty % conversion rate into business New Business Number Demo booking from website 124 24 30 40-70 Lead score (MId level) 428 7 30 70+ Lead score (High Level) 180 18 32 As you can see, without lead score lead escalation, we would miss approximately 62 new customers each month. This means by using Lead score to identify our hot targets before they convert, we have 2x our ROI How to 2 x your marketing ROI in 1 easy step! Clear objective
Free training and Support for life Free training and support for life 2X STEP 3: Understand your data 12x
Free training and Support for life Free training and support for life As marketers, we sometimes forget about our data subjects’ lives, after all, we are all human, the real world influences our business decisions. School holidays Christmas Budget renewal Climate Industry related factors National healthy eating week Understand your data
Free training and support for life Free training and Support for life At Force24 we work with audience segment historic engagement to direct our content focus and campaign calendar. What we have learnt – These peaks and troughs can’t necessarily be smoothed out, but they can be worked with. Understand how your audience seasonality can massively reduce or increase your campaign conversion rate. Understand your data
Free training and Support for life Free training and support for life 2X STEP 4: Messaging and content 12 x
Free training and Support for life Free training and support for life When you understand your audience and how you expect them to respond, you can truly empathise with them. I often ask the Force24 marketing department “ Would you engage with that campaign? ”. Sometimes we forget we have to appeal to the human element of our audience, the offer itself is just not enough! Our approach is really simple, and that is to write the killer headline first. The Ultimate Killer Marketing Metrics of 2018 How to write the perfect email nurture sequence The ultimate guide to marketing automation Messaging and content
Free training and Support for life Free training and support for life Remember the squint test: Be more Gordon Ramsay, don’t stand for artwork you yourself are not proud of. Messaging and content
Free training and support for life Let’s also not forget the role of an email, to use a fishing analogy, the email is the bait . The role of email is simply to alert the user of the content and not to be the content. By releasing the burden from the email, you can become more focussed and give the reader an easier experience. Messaging and content
Free training and support for life How to quantify the impact of effective well-ordered messaging? In this instance I will need to rely on the Force24 marketing evidence to support the ROI uplift. During 2017 and 2018 we ran in-depth message construction analysis, looking at both Force24 and other supportive organisations artwork, we have seen a significant impact on campaign performance. We were able to demonstrate a 42 % increase in email marketing stats by considering the message and ensuring it was fully optimised: Campaign Un-optimised Approach Optimised Approach Opens 12% 17.04% Click 4.2% 6.9% Demo requests 56 102 (Please note, lead score escalated contacts have been ignored in calculating this ROI uplift as many messages may have contributed to the engagement thresholds.) So let’s conservatively this will 2 x your marketing ROI in 1 easy step! Messaging and content
Free training and Support for life Free training and support for life 4X STEP 5: Campaign execution 12 x
Free training and Support for life Free training and support for life On average we open 1 in 6 commercial emails, and have been desensitised to marketing messages. Challenge: Try to remember 1 email commercial you received yesterday Campaign execution
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