At MOCCA’s recent Executive Forum in Mountain View, key thought leaders in marketing and marketing operations from Oracle, Marketo, Adobe, SAP, Intel, Terminal, SiriusDecisions, and dozens of mid-market and start-up companies shared tips, tricks, techniques and war stories. We curated the following take-aways for you to up your game and end 2018 strong.
- Reality check your lead-funnel vs account-based programs and reporting. Make sure your current report-outs and path to future reporting is aligned with the right mix of account-based programs and funnels. Many companies are going full tilt on new account-based marketing, or account-based revenue programs, but their reporting hasn’t caught up from last year’s lead funnel. Most companies are not yet reporting out ABM stats at the Board of Directors level, but should be. So design your ideal and realistic report out and plan step-wise how to get there by end of calendar or fiscal year. Build it and socialize it — now.
- Re-think the knowledge, skills and tools needed to excel in sales enablement. Marketing “got drunk on inbound and the hangover in Sales is severe,” as Jill Rowley, chief growth officer of Marketo insightfully recapped on the industry. Too many marketing people are still thinking spray and pray, even when doing targeted or account-based programs. Marketing must focus on sales process and sales enablement and better partner with Sales.
- Increase your predictive tech in your marketing mix to find new buyers in this post-GDPR (or GDP-ARmageddon) world. GDPR appears to be hurting practically everyone’s European contact database numbers and reach. Use this as a pivot forcing function for installing or ramping your predictive technologies to identify and engage truly interested buyers. There are a growing list of vendors in this space, each of them offering differentiation. So learn the capabilities of predictive tech, pilot them and add or increase them in your tech stack. (MOCCA will be featuring practitioners and vendors in our webinars, so sign up at joinmocca.com if you’re interested in learning more.)
- Don’t throw technology at a problem — work it analog first. Our experts on people and process asserted and our technology expert panel agreed. Identify your problem statement first, develop your solution second and pilot it manually before building it out. Have your analyst partners and tech vendors help you with this, too. The best vendors do not want you implementing tech so that it fails and the best reps will help you develop a best practice solution.
- Optimize your marketing tech stack and mix. While this sounds foundational, it is not as prevalent as it needs to be. Marketing Operations (or equivalent function) is the one group that can truly look across the marketing tech stack and make sure it is aligned across multiple integrated marketing functions and objectives. Marketing Ops is not the expert in all technologies, but it does own ensuring the marketing tech stack overall is working across marketing functions.
- Position your team to grow and achieve excellence at scale. SiriusDecisions research confirmed that Marketing budgets are growing, not shrinking. So it needs to be invested now to pay off with quick wins and long-term automation, personalization, market share growth and competitive excellence. CMOs report that they are investing more in planning, technology, reporting and analytics, which are all traditional areas of marketing operations. This is an excellent time to be a marketing operations practitioner and data-driven marketer. Own your tech stack, your customer/buyer insights, your planning process, your goal alignment, your marketing team skills development, your program reporting and you’ll ensure your organization achieves excellence at scale.