How to 12x your marketing ROI Adam Oldfield Founder of Force24 - - PowerPoint PPT Presentation

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Sep 19, 2022 349 likes •775 views

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

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How to 12x your marketing ROI

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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.

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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.

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The Challenge Marketers are faced with a world

f conflicting information, often

supplied without evidence and an agenda. Who should we trust?

The Challenge

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The Problem

The Problem Most marketers are still using, largely, the same tools and metrics in a more demanding, more challenging environment.

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Let’s Build The Scene

Setting the scene.

Some important aspects to take note of…

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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..

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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

f 2018

www.force24.co.uk/lab/downloads/

But first..

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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..

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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..

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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

ff 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..

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10 15 180 23 42 70

6 steps to 12 x your marketing ROI

12x

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But first..

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STEP 1: Have a clear objective

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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 Educate lapsed customers about new products Increase base lead score in northern contacts Clear objective Warm up cold contacts

Needs to become…

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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

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STEP 2: Understand the sales funnel

12x

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The sales funnel helps you understand the point at which you should act. What is your plan to

ptimise the opportunities…

Clear objective

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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

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The Force24 sales funnel is designed to maximise the opportunities

Clear objective

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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

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Let’s look at the net effect of the escalation, is it worth it?

Clear objective

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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!

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STEP 3: Understand your data

12x

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Understand your data

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 Climate Industry related factors Budget renewal National healthy eating week

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Understand your data

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.

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12 x

STEP 4: Messaging and content

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Messaging and content

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

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Messaging and content

Remember the squint test: Be more Gordon Ramsay, don’t stand for artwork you yourself are not proud of.

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Messaging and content

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.

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Messaging and content

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!

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12 x

STEP 5: Campaign execution

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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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Campaign execution

Remember the Human argument. When attempting to deliver your message, you must cover off the basics.

Download your copy from the Force24 content lab

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Campaign execution

Build every campaign with a view to running it over 6 weeks or more. Remain hands off as the machine works to your rules sending the campaign.

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Messaging and content

Calculating the benefit of the use of a well structured journey is relatively simple.

But we can not quantify the internal benefit, which must not be ignored. The marketing team are hands off for the period of the campaign, releasing them to focus on other pressing matters.

Campaign Single Optimised Campaign Overall Journey Approach Opens 17% 67% Click 6.9% 24% Demo requests 24 102

So let’s conservatively assume this is how to 4 x your marketing ROI in 1 easy step!

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12 x

STEP 6:Landing Pages

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Landing pages

Landing Page Evolution. Proving the boss wrong…

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In June 2016, Force24 launched its current website In June 2017, Force24 launched V1 Microsite Editor In July 2018, Force24 launched V2 of the Dynamic Microsite Editor

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Messaging and content

What does this look like

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Landing pages

Being proven wrong sometimes is a great thing:

Traffic destination Single Optimised Campaign Website 1.74% Microsite v1 12.1% Microsite v2 22.32

So let’s conservatively assume this is how to 4 x your marketing ROI in 1 easy step!

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A quick summary to take away.

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Understand how you are going to measure success

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Less is more in emails

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Landing pages are always worth the effort!

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10 15 180 23 42 70

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Lead scoring will be your biggest innovation this year

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Thank you!

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Tomorrow:

Understanding Customer Engagement

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That’s all folks!

12-1pm