51ºÚÁϲ»´òìÈ

Transcript

Hi, everybody. Thanks for joining us today. I’m gonna give everyone a few minutes to log in because there’s still people coming on and we’ll get started in just a minute. Alana, is this where we pick someone to randomly unmute from the attendees selection and then have them, just kidding. Yeah, have them sing for sure. Yeah, yeah. Unmute and turn their camera on for them, I believe. I am, you know what, we’ve never done that before, James, but maybe today. Good. Good. That’s the first time for everything. I do like texting people that I know during all hands meetings that their mic isn’t on mute, even though it is. And I think I’m a nice little scared. It gives them a little scare. Yep. Yep. I love that. Yeah, let’s see somebody who just joins. Yeah, a little bit. There’s still see, I still see a lot of people coming on. Gonna give it another minute. We’ll get started in a second. Right. Okay. Right.

Does everyone have their mocha? I hope so. Everyone’s back there. Morning cup of joe, whatever it is. Mocha coffee, espresso, tea. We accept tea as well. Yeah, tea’s good. Tea’s good. Water. Any guy. Yeah, cold water. Yeah, I already had my coffee a couple of hours ago. So just hydrating. Just one. Just one for you, Alana. Just one. I’m a one a day coffee. I’m like a three. Wow. I would never sleep. I’m, I, yeah. Yeah, I don’t sleep. I haven’t slept in three years. I haven’t needed to since I started drinking coffee. So it’s perfect. There you go. All right. With that, I am going to start kicking us off because we are three minutes after the hour. And while there are still people joining, let’s, let’s get started. So hello, everybody. Welcome to Marketo and Mocha’s. Today’s topic is customer during management, lifecycle modeling. So let’s go through a couple of housekeeping items. This is an ongoing webinar series designed to be interactive. So definitely ask questions in the questions box in the GoToWebinar control panel throughout the presentation. You type them in there and we are going to get to as many of those as we can today. So this webinar is being recorded and can be viewed on demand, shared with other members of your team that might not have been able to attend today. You’ll get that email from GoToWebinar tomorrow, about 24 hours after the event. So as I mentioned, we’re going to leave time at the end for Q&A. So feel free to start asking those throughout the presentation. If your question is not answered, please follow up with your success account manager for more information. And at the end of the webinar, a short survey is going to pop up on your screen. So if you could fill that out for us, that information helps us ensure that we’re meeting your expectations of the events. So with that, let’s walk through today’s agenda. First we will introduce ourselves, myself, Cynthia and James, and then they will be taking us through today’s presentation and demo of all things lifecycle. After the presentation and demo, we’ll quickly chat about some upcoming events and then conclude with Q&A. So start asking those questions now. And I also want to draw everyone’s attention to the handouts dropdown in the control panel. In there, you’re going to find a downloadable handout that we created for you. The handout has a bunch of quick resources, including links to Marketo User Groups Experience, League Trainings, a ton of other things. It’s an awesome resource. Definitely download that. It’s got some upcoming events as well. Super helpful. Download that. Let us know if you have any issues with it. And with that, I would like to introduce myself. So my name is Alana Cohen. I’m the digital events manager for our customer success strategy team here at 51ºÚÁϲ»´òìÈ. I’ve been with 51ºÚÁϲ»´òìÈ for a little bit over four years, and I’ve spent the last two and a half years or so organizing and hosting these events for our digital experience customers. Prior to my time on this team, I spent about two years working with 51ºÚÁϲ»´òìÈ’s advertising cloud customers, and before coming to 51ºÚÁϲ»´òìÈ, I spent about 10 years at different advertising media agencies around New York. But I’m excited to be here now hosting events like this for you guys, our customers. So if you have any questions or comments about today’s event or any of our customer exclusive events, please do reach out. All right. With that, I would like to pass things over to our presenters for today. So, James and Cynthia, please go ahead and introduce yourselves. Yeah, happy to. Hi, I’m James. That’s my little boy, R.G., in the picture there. So if you hear him bark, it’s not my fault. He kind of has he does have a mind of his own. So I basically have very few skills in my life, but one of them happens to be Marketo. So I helped admin Marketo at Marketo. It was called our marketo. And so very meta. And then obviously we were acquired and then helped merge a lot of Marketo instances and help manage basically all things lifecycle and what we’re going to be talking about today at 51ºÚÁϲ»´òìÈ. So I did leave 51ºÚÁϲ»´òìÈ. I was a marketo engaged champion, which I think the applications are still up right now. I could be wrong and I’m going to get in here for later. But if you are a marketo super user and you’re excited about the about the product and advocacy for the product, please apply to be a champion. It’s great, great career move as well. And then I’m a certified solutions architect. So I’ve spent about seven years in marketing operations, doing lifecycle attribution, scoring, all those other good things that help keep the system running. And then Cynthia.

Thank you. Hello, everyone. I’m Cynthia. I’m currently a business advisor at 51ºÚÁϲ»´òìÈ, specializing in Marketo engaged. My background, I came from Marketo’s consulting services, where I spent about six, seven years working with Marketo customers on all things Marketo, Marketo implementation project, optimization project, et cetera. And prior to that, I spent about another six years as a marketer and also a marketo customer myself, just like many of you guys here on the line. So super excited to be here today to share my experience and talk to everyone about my experience with lifecycle modeling.

So let’s get into today’s topic about lifecycle modeling.

When as my in my consulting years, when I talk to customers, I realize that a lot of people don’t seem to really understand how to use Marketo’s lifecycle modeling feature to be able to model their customer journey. So our objective for today’s webinar is to really help you understand high level what is lifecycle or customer acquisition lifecycle, what the lifecycle model looks like inside Marketo.

And then we’ll also show you how you can configure your own model to track your customer acquisition.

So at high level, what is the lifecycle or customer acquisition lifecycle? You might have heard of the buyer’s journey based on buyers moving through the path of awareness, consideration and till the decision to purchase.

Sometimes that journey can also be illustrated in the funnel view where you track buyers from tofu all the way to mofo and bofu bottom of funnel. And regardless of which methodology, the goal is really to help you understand and visualize the progression and the key stages in which your buyers are moving through till they become customer. This visualization really help us measure the number of leads and people in each stage. So we’re able to track that stage to stage conversion rate from the funnel stage to the next. Understanding that stage to stage conversion rate will help us evaluate if our buyers are moving through their journey effectively. Or maybe we have a leaky funnel where a lot of buyers are actually kind of dropping out in the mofo in the middle funnel stage and don’t make it all the way through to the end to become customer. Just I know you also have a lot of experience working with lifecycle as the practitioner. I’m curious to kind of hear your take on this topic.

Yeah, absolutely. And, you know, I would love to echo everything that you said there, like just statistically and and just effectively, lifecycles really are the heart of the business. So I think the way that I always think about it, having to sell this internally, like if I join a marketing ops role and I’m talking to sales leaders and executives, is that like we need we need to have transparency along the funnel. We need to make sure like no money is left on the table. You know, like sometimes leads come into your system and they don’t get followed up with. Well, you have to figure out why that is and you have to know when that happens. And to be buzz buzz wordy, it would be like we don’t know what we don’t know. And the lifecycle is really good at showing you what you might not know. So really, when you pair this with like a lead scoring system, tracking fields like lead source, you are really able to to use that lead lifecycle as a driver of business success. So with that service level agreements, how you know, how are we going to do next month? How are we going to do next quarter based on previous previous statistics and just looking at more accurate projections? So, yeah, that lifecycle is really the end to end system. It’s kind of like a theoretical thing related to your buyer’s journey, but it’s just it’s much more about mapping and using data driven decisions to to improve upon.

And then, Cynthia, if you go to the next slide, kind of talk through a few things that the lifecycle model can help you answer. Now, I’m not going to read everything that’s on the screen here. Hopefully we all know how to read. But basically, when you look at that lifecycle model, you can you can more accurately predict how many leads that you pass over are going to be followed up with and in what amount of time. So if you think about you can’t be so specific to every type of lead that you get. But if you boil it down to the leads that you pass to your sales teams and you look at specifically, you know, maybe you have a demo request or a trial request and then you have people that like visit your website a bit and they download a piece of content. Well, you want to have a different SLA, a service level agreement with those sales reps when they get a demo lead versus when they get a content lead. One of those types of leads needs to be followed up with very quickly. And another type can, you know, can maybe wait a bit or maybe it needs a little bit more nurturing. So as you’re looking down there, what you can do is determine which levers you can pull as a business. I spoke recently at a Marketo user group in Denver where I live. And one of my things was that like sales comes to marketing and marketing ops all the time and says we need higher quality leads. We need this. We need that. And I understand that and I completely agree that you should absolutely have those those statistics down and those conversion metrics and improve upon them. But you also are able to ask things of them. So let’s say you you have different segments in your business and you have mid-market and enterprise and one of those opportunity types converts at a higher rate than the other ones. And that’s the bottom of the funnel. Well, why you want to track the bottom of the funnel, you’re not responsible yourself for closing those deals. Your sales reps are. And so it’s like, yeah, we can increase lead quality up at the top of the funnel. We need you to increase the the conversion rate down at the at the at the bottom of the funnel. So really, as we look through here, like where do leads come from? Which reps are they going to? Which reps which reps that we give leads to are recycling them at a certain percentage point. So all just very important questions that that are expected to be asked of a marketing operations role, marketing attribution role and and a lifecycle is going to help answer those questions. So with that, we will pull up our first poll. Alana, if you wouldn’t mind.

Sure thing. So everyone should see a poll popped up on their screen. How do you currently track your customer lifecycle? Are you using Marketo for an end to end marketing to sales lifecycle? Your CRM team is responsible for tracking lifecycle. Maybe you don’t track or maybe you’re not sure. Tell us how you currently if you currently track your customer lifecycle. And I’m going to give everyone a minute to answer. All and all good. All good answers. You know, there’s there’s really isn’t a right answer here except for if you if you say you don’t track it and that’s specific. I personally want to know why, because that would be a very interesting business decision and that would make my life a lot easier if we if we didn’t track a lifecycle. So for sure. All right. I’m going to close the poll. Looks like there’s a good mix. I’ll let you. You take it from here, James. Yeah, absolutely. I think I’m actually handing off to Cynthia here as well.

Hey. Great. So here is an example of what the lifecycle model looks like inside Marketo and how it can model and track the different stages of our buyers journey. You can even see how it relates to that funnel view where we have the tofu, mofo and both of the funnel market starts tracking your unknown web visitors in the top of funnel when they’re still anonymous and when they make an inquiry and give us their email address, they become new leads in Marketo and we move them to the known stage so we can track how many new leads are generated by marketing.

When they start doing some more research on our side, that activity will increase their behavioural scores and their lead status may update to engage or suspect and accordingly, the model will move them to the engaged stage. When they meet scoring threshold, the model will move them to a marketing qualified stage and you will notice that the icon of the stage has a clock icon, which indicates that we have an SOA or service level agreement for how soon salesperson should pick up and accept work on the lead and their lead status may say MQ or marketing qualify at this time. When sales accept work on the lead, they will update the lead status to working or something to that effect and that activity will trigger the model to move them into the sales accepted stage.

When sales qualify the lead and opens an opportunity, Marketo can listen to the opportunity creation in your CRM and move the person to the opportunity stage. All the way till the opportunity is close won’t and brings them to the end of the funnel where they become customers.

So this green path we just went through indicates the key milestone stages that a person should go through to become customer, which is what we define as the success path in Marketo’s lifecycle modeler. However, there could be exceptions to this direct path. For example, we have the option to fast track somebody when they fill out a contact us or demo request form, we can designate the modeler to fast track them to become MQR right away without having to go through those stages in between.

Or not everyone who enters our site are viable leads. So in this case, we could set up the tour stages just like a bucket or a stage where we hold people that we cannot market to. So maybe these are the people who live outside of our sales territory we cannot sell to, or maybe just that invalid or junk data, right? Because we get junk data on our website all the time. Maybe this is just competitor employees that comes to our site. But in any case, these are this is just the area where we can hold the people we don’t want to market to and kind of move them off our success path so it doesn’t impact our conversion rate.

We could also have a recycle stage where we hold people who are not ready to buy because we don’t want them to sit in a specific stage and not move on. So we can move them to the recycle stage where we know hey, these are the people that’s going to take longer because they need more time with marketing to nurture them. Or maybe they are influencer who needs to be kept informed, but they are not necessarily who we’re targeting to market to. People from lost opportunity can also be moved to the recycle stage after a certain time frame. So we know hey, these were the people who once upon a time were in the opportunity we just lost them, but we might want to remarket to them at a later time frame.

So this one is an interesting one. If you want to track the progress of your leads beyond the initial customer acquisition, you have the option to append that upsell cycle to the initial customer acquisition model. So you can leverage the same model to continue tracking your upsell and cross sell motion and understand different behaviors between prospect and customers. I would say this is kind of a more advanced model. And I think James, when you were working in Marketo and Marketo or our cattle, you probably have experience with this kind of events modeling. Yeah, absolutely. And I like to call these more complex ones a spaghetti string model, because this is really how you’re going to see it in Marketo when you’re setting it up. And we’ll check that out in the demo that I’ll do as well. But let’s say a lot of businesses work on new business, new logos. Some businesses more rely on expansion. So a land and expand type of mentality and type of business model. So, you know, let’s say you sell one license into a team at a company, but you want to go ahead and expand that and say, OK, now we’re going to market to them and say, hey, your team uses our product or this other team uses our product. Have you considered trying it out? So that messaging, that marketing is so different from your new business model that it can be really effective to have an upsell cross sell model like this as well. So as people move from anonymous to prospect inquiry to AQL, which would be an automation qualified lead. And I know there’s a ton of a ton of different nomenclatures and acronyms in here, but generally Q is qualified. So as it moves through the funnel, you’re also able to say, OK, they might get recycled. They might not be fit to buy the product currently, but after they buy the product, where do we go from here? Because you obviously have to focus on retention. You have to focus on upsell. You have to focus on increasing your ACV. No executive is going to be unhappy hearing that that’s a priority. So, yeah, this is similar to what we built when we launched our Keto, Marketo at Marketo, selling Marketo out of Marketo.

And really the focus was like we develop advocacy, we develop adoption, we help nurture people further down the funnel so that they’re able to be better within Marketo and have a higher chance of kind of expanding the products that they want to use.

Thank you, James.

So oftentimes I’m working with customers, I will hear people say to me, oh, we’re not a traditional B2B, we don’t use opportunity of CRM, so we don’t have a use case to use Marketo’s lifecycle model. But really what I want to point out today is that Marketo’s lifecycle model, the purpose is to help you model your own customized bias journey, regardless of the stage or the opportunity. It’s really to model the journey and the stage that you care about. So you’re able to track and understand your own inventory and conversion rate from stage to stage. So here’s the example of S&B model where you are not necessarily tracking opportunity creation, but rather you are tracking how many conversions and loyalty of customer base you are able to build that will advocate for your product.

And here’s a credit union example, there is no opportunity involved, but you might want to track the number of loan applications and how many of them were approved and result in more application referrals. In fact, when I was a consultant, I worked with several credit union customers to build out this type of lifecycle model. And this is a higher education example where, again, the tracking, the stage tracking needs is a bit different. You might want to track how many potential student applications get admitted and how many of the students actually graduate from the school to become alumni and maybe become future donors to the school. And maybe that’s how kind of part of how the school is making revenue profit. And then a health care model is, again, very different from the other models that we’ve seen. Whether tracking needs are very different, you might want to track how many doctor seekers actually make treatment appointments and become active in the medical community advocating for the specific type of treatment that you’re selling to. So, again, these are just different examples to show you how Marketo’s lifecycle model is not a fixed model and it’s really to be for you to customize and decide to fit your tracking needs and your conversion metrics. That said, it is super important to understand what conversions your organization are looking to track. What are the key stages that matter to your organization in that customer journey or buyer’s journey? And what is the definition of MQL or Qualified Lead for your org? So that actually leads us to our second poll question. Alana, if you don’t mind putting that up for us.

Sure thing. So everyone should see a poll on their screen again. This one, we are asking what counts as an MQL or Marketing Qualified Lead in your org? Is that meeting the lead score threshold? Is it a demo request or a contact us request? Is it a download or is it all of the above? Maybe it’s one or the other. You have the option to multi-select here. So let us know.

Looks like a lot of people are saying all of the above.

A lot of people are also saying a demo or a contact us request and meeting the lead score threshold. So that’s where most people are getting their MQLs from. Cool. All right. I’m going to close out the poll.

OK, this is a very interesting response. And again, I would say that there is probably no right or wrong answer as long as the definition of MQL is agreed upon in your organization, even if it’s a download, as long as your sales org agree with you that, hey, if someone downloads, I will follow up then then that’s fine. That’s that’s that could be the MQL definition for your org. So again, no right or wrong answer here. Typically, we do see a lot of people leveraging these scoring as a criteria to qualify for MQL. Sometimes we move often. We also see people using it. I mean, if someone requests a demo or they request to contact us, then of course that could be fast tracked to become an MQL as well. But again, no right or wrong answer here. Most important thing MQL definition is to be agreed upon between marketing and sales team. So you make sure that whatever MQL marketing generated is actually going to be accepted by the sales team.

OK, moving on, so now we talk about the different models that you can set up to model your own customer journey. Let’s talk about the reports that come with it.

So the first is an out of box people by revenue stage report, you can access this report from your Marketo’s analytics section. This report really just shows the balance of the leads in each stage in a select time frame. You can subscribe to these reports on a daily, weekly or monthly basis so you can kind of monitor that balance in inventory of people moving from one stage to the next. You could also report on the transitions by creating one smart list per transition. So, for example, if you want to look for how many people move from prospect to MQL, you can create that smart list and add a smart list to the report as a custom column for reporting. You also have the option in the same people by revenue stage report, there’s in the setup tab, you could just expose the opportunity column data to show you the opportunity information that’s attached to the people in the stage. So you could see how many people in your SQL sales qualified stage are attached to the opportunity and what is the total opportunity amount. So that would give you a lot of insight as well.

The next, this is the success path analyzer report, this is a very powerful report, Greta, I think it almost looks like a dashboard. The lifecycle model that you built or you identify or you create is going to supply the inventory and flow data to the success path analyzer to this report dashboard. And it’s going to help you report on the volume and velocity of the lead that flows through the success path stages.

You can see that the dashboard report will show you the balance of the people in that stage, how many inflow, how many get into the stage, how many outflow get out of the stage, what is the average conversion rate in that timeframe and what is the average time people stay in that stage. So that really gives you a lot of this is what we talk about, all that conversion rate from stage to stage. This report can also show you balance for the compare period and SOA due so you can compare timeframe to get more insight.

If you do have access to the events BI analytic reporting or formerly known as the revenue explorer reporting market, there’s a photo of all the stock report for that related to the lifecycle modeler. So you get the lead aging report, balance report, conversion report. There’s lead transition time report and SOA infection report. So all of these reports are kind of like stock report out of box if you have access to this event’s BI analytics.

Before we get into the demo to show you how to build a modeler in your instance, I want to stress how important it is to have a blueprint, to have a plan before you start your build work. What it means is that you want to make sure you outline the key stages for your customer journey and more importantly, the definition for each stage. So make sure you sit down with your team to identify, hey, what are the conversion rate we want to track? What are the stages? What is the path the ideal customer should go through? And for each stage, for example, for marketing qualified stage, what is our definition for marketing qualified? Maybe it’s people who meet the scores threshold. So what does that translate into a system criteria? Like what do we put in that in the Marketo smart list? So maybe here the system criteria is in Marketo, they need to have a lead score at this 100 point. And then how does that relate to, correlate to the least status they may have in CRM? Maybe we’re looking for people in CRM that has the least status of qualify or MQL. And any additional notes that you need to put to that stage, for example, maybe for MQL stage, we have SLA of two days. That means sales agree to pick up MQL leads within two days timeframe. So you want to make sure you have all this definition outlined and the system criteria also outlined so you know what you’re looking for, what you’re trying to build, like what’s the smart list logic that you need to put into Marketo when you’re building out your lifecycle modeler. Now I’m going to hand it over to James. He’s going to show us how to clone from existing out of box example to create your own customer journey modeler and then customize the stages and transitions. So I think, Elena, if you can help us transition the screen to James, please. More time.

Yep.

All right. So I’m guessing we can see Marketo. Yes, we can. Cool. Not my eBay account, just Marketo. OK, great. I’ve zoomed this in a bit just so everyone can see. OK, but here we are in our Marketo instance. So what we’re going to be going through essentially is looking at cloning this lifecycle revenue modeler and then adding some different custom stages and detours and transition rules very similar to what Cynthia was just showing. So and again, please ask questions. We would love to answer questions. So here we are. I’m in my Marketo, just the market tab. You can either click up here in analytics or you can navigate over to the analytics box here. Click on. So as we have here, we have a bunch of different reports that we can go through. We’re not going to be reporting right now. We’re going to go ahead and go into revenue cycle modeler. And you might have something in group models. This is like anything that may and anyone that may have created a model in the past in your Marketo instance. But every Marketo instance should have these Marketo examples, success only and then success with detours. So we’re going to add some detours so we don’t need them immediately. We’re going to go success only. Click on that. And then under model actions, we’ll go clone model. And this one will just, you know, let’s just call it test model one success and detour. Not that I’ve written that in before. Of course not. So from here, we’re going to go ahead and hit edit draft.

So let’s just take a look at how this looks in the Marketo instance. Pretty straightforward. As Cynthia had mentioned, the success path going along here from anonymous person to closed one. So first thing I like to do is just take one and kind of like put it a little further away, just so it’s a realistic expectation. Now we’re just creating some space in here. And then we got person and engaged. So this just kind of like frees up a little bit of space. I think the first thing we can do, let’s say when we pass off a lead to a sales rep is we call it an SAL, Sales Accepted Lead. So from here, we can just change the name in the bottom that says, SAL and the description is going to be lead accepted by sales rep. Perfect. So we have our SAL. Second thing we’re going to do here, we’re actually going to delete the person because we want to pull in an SLA. So if we just right click and hit delete, confirm that we’re going to delete this. And now we have a break in our success path. So in the top right corner up here, we’re going to go ahead and grab SLA and just put it right in the middle. We’ll call this our MQL. So our MQL, as Cynthia had stated on the previous slide, that is going to be anyone with a lead score over 100. And the SLA is going to be two days. So in the very bottom, we’re going to hit two just for the days there. And then we need to connect these to continue the success path. So as long as it’s along this path, it’s going to be successful. If you find that the path breaks, that could be that it’s just a little too high or a little too low. But if it’s right in the middle, you’ll see the green line. So what this does with an SLA specific type of stage is Marketo add the revenue cycle explorer. When you’re looking at some of the revenue model reports will tell you these leads went into MQL. And this many of those leads ended up being an SLA infraction. So I know SAL, SLA, Service Level Agreements, basically when you reach through the computer and shake the hands of the SDR manager and say, hey, we’re going to send you leads. We’re going to make sure they’re routed appropriately. We’re going to make sure they fit this certain level of quality. But you have to follow up with them in two days. Reasonable, right? They get paid on following up with leads. We’re going to send them leads. Everyone’s happy. So from there, we have our success path engaged.

Let’s say that this is when someone gets to the score of 20 points, I think we were talking about. So that would be our transition rule right here. So let’s operate under the assumption that we have a scoring model that’s increasing the score. If you double click on this transition rule, we can already see that out of the box we have clicking link in email, filling out a form, visiting a web page. That’s great. We already have engagements here that can push someone to engage. But maybe a little bit more, maybe you’re like me, you’re a little bit more like in control, control power, power grab over your Marketo instance and scoring. So I’m going to go ahead and delete these. Now from here with this transition rule where there’s people that are in the lead bucket that are known and you want them to move to engaged, the trigger that we want to occur is that we have scores changed. This score is going to be person score. The new score is going to be at least 20. If you do is 20, that means that it will hit 20 or it hits 21 and it doesn’t qualify. So the new score is at least 20. And we also want to make sure that the person score that we pull in here as a static filter is less than 100. Because 100 is our MQL threshold, we don’t want to have a difference of conditions like conflicting conditions in these transition rules, where maybe someone goes from the score of 19 to 100 or 101. And we don’t want to push them into engage because they’re going to be an MQL. So that is our transition rule here. Now we can, let’s talk about something else we can do with transition rules. So we’ll click on the next one engaged MQL. We don’t have any rules to find here because we pulled in that MQL stage custom. So one thing we can do, let’s say we just want to have this in a separate smart campaign that looks for anyone that fills out a trial request form or contact us form a demo request form. So that’s we can just do manual stage change. You notice there’s no constraints here. It’s just basically that in a flow step somewhere else in your instance, you’re pushing people from engaged to MQL. You can totally do that. Another thing we can do here is exactly what we just did, which is scores change. It’s going to be person score and the new score is at least 100. There’s a few other ways you can do that. You could say like greater than 99, right? It would do the exact same thing. So now we have someone who is qualifying for MQL and they’ll move from engaged to MQL, which is great. So we have our success path. As we’re going through, we’re starting to define these. Maybe this is that their lead status changes from MQL to accepted. That’s great. That happens on your CRM side, your sales rep that’s accepting that lead. Maybe this is that they’re added to an opportunity. So then once they’re in the opportunity, once that opportunity is closed, one opportunity gets updated in the stage is now closed one. Then that can be the transition rule, as we see here at the bottom, that goes to one. So from here, that’s great. We have a straight line, very linear, very directional. But what happens if someone maybe gets to S.A.L. and the rep is calling them and calling them and they finally answer and they’re like, listen, we don’t have budget, we can’t we can’t buy this product right now. That’s totally fine. So what we want to do is close that loop, because what will happen is people will drop out of this. Basically downwards, if we think about it visually, and then they don’t have any way of getting back up there. So what we want to do is pull in an inventory. We’re going to put it right under MQL and we’re going to call this recycled. So this recycled motion basically tells us that someone has made it further down than engaged into the MQL status and will eventually at some point, hopefully, if you market to them appropriately, bubble back up into the MQL stage. So that’s what we’re going to visualize here. People can go from MQL to recycled. People can go from S.A.L. to recycled. But what this does is close the loop here. So we’re just add more spaghetti strings in here. You know, maybe this transition rule we can look at. We can do the same person scores change rule. So we’re not going to go through every single transition rule because that would be take way too long. But let’s let’s go ahead and add one other thing here. So an inventory saw a great question in the chat as well about, you know, if someone is is like a junk lead, if someone’s a junk lead, how are we supposed to know what do we do with it? They can go from S.A.L. to junk lead. They can go from MQL to junk lead. But generally, once someone’s known, we can disposition them to junk. And this is going to be a one way trip. You get a one way ticket to junk town and we’re not going to call us junk town. We’re going to call it disqualified. No, I’d like to call it junk town. That actually sounds kind of fun. So from known to disqualified, maybe what we have is some processing in the in the back end. And we could do and I don’t have this field created, but we could do like data value changes and it would be that junk lead equals true or something like that. And that’ll that’ll push them into junk. Now, at the system we we want the system to be like 90 to 95 percent accurate. And what it’s doing, there’s always going to be people that kind of squeak through. So there there is a realm in which MQL goes to disqualified. We didn’t know that that person that we passed over is an MQL was junk because maybe their name was like John Johnny Jonerson. But those are all like kind of legitimate names. You know, it’s not like a SDF or something like that. So we can only do so much with automation. And then a couple other things I wanted to add here. Definitely want to be mindful of time so we can answer questions as well. So let’s go ahead and pull an inventory for this is going to be closed, lost. So let’s say someone gets to the opportunity stage and then the opportunities closed, lost, that happens, it’s not 100 percent of opportunities that are opened are going to go to close one. So we’ll go ahead and make this a transition rule. And then let’s say after like 90 days or something like that, we push push people from closed, lost to recycled. And so we give them enough time where they like cool down. All right. Maybe considering your product again. And then we want to when they engage bubble that back up to MQL. One last one we’re going to add in here is churn. So you have customers, they churn totally happens. But you want to win them back at some point in the future. So if they go if they’re sitting in this one status and they end up churning and maybe this transition rule is that like a renewal opportunity was closed, lost. So you just think about like the data points that would indicate this. And then they’ll move from churn to recycled. So this closes the loop across everything that we’re doing here. And the good thing, the reason that you have these stages, you don’t just go from opportunity to recycled is because if someone is further along in that opportunity, you don’t need to send them top of funnel, top of funnel content, right? Like you want if you’re getting them back after having them in the bottom of the funnel, you’re talking to them as if they already know your product, they know what the problem that your product solves, things like that. So this is basically how you would build out a like a new business model and then a lot of questions we get it like, you know, maybe you don’t have MQL is maybe you have MQAs, you have qualified accounts. Right. So you can you can pretty much morph this into however it fits your business. But what you’ll do here after you have all these trends, excuse me, all these transition rules set up, is you’ll hit validate. Now, it’s not going to let me validate because the transition rule SAIL opportunity has a valid smart list rule. So then you’ll go in here, double click in that, open up, make all your edits that you need to. And then what you’ll do is after you validate it, you close it out. You go to your model actions, you prove the stages and then you approve the model. So essentially what what you’ll want to do here is just make sure that everyone’s moving through this model appropriately. And there you have your life cycle. And it’s never a set and forget. That’s an important distinction there. You always want to keep your eyes on it. But hopefully that hopefully that helped. And I’ll I’ll pass it back to Cynthia. Thanks, James.

You got it, Cynthia.

Me.

Can you pass me the person? Oh, there we go. OK, OK. All right, thank you, James, for that demo. Show my screen. OK. Thank you, James, for that demo. Hope everybody learned how to create and build a model in your market instance. I like to before we get into the Q&A, I would like to share some tips and tricks when it comes to creating and managing your life cycle modeling in market instance. The first thing I first and foremost, I will say is make sure you’re establishing an agreed upon life cycle. The key word here is really agreed upon. Want to make sure you get your sales team, your executive, your CEO, and everyone who’s who’s going to care about the conversion rate that comes out of this life cycle model. You want to get them into a room to have a whiteboard or discovery session to make sure that everybody agrees on that blueprint before you start building.

It’s really important that this is your opportunity to to make sure you’re aligning, you’re creating that sales to marketing alignment, right, this handshake. So this is where you create that handshake. So make sure you get everyone involved as soon as it is possible. Make sure you get sales buying, sales agree. Hey, the MQA definition sales will, sales team will agree. And when you pass on a lease, sales agree to to to pick it up and accept within whatever time frame that you that you define whenever possible. I also recommend that you try to align your CRM, the contact status to the life cycle status in market. Oh, it just it’s so much easier and clear and reduce confusion when you have the status aligned in both systems. So it’s so I mean, there’s no confusion. MQL shows up as MQL in CRM. It also shows up as MQL in market. And one more reason to make sure you get your CRM involved, right, because sometimes you may already have a legacy CRM lead and contact status. So and you may or may not always have the power to change it. But in the case that you are not able to change it, I would recommend at the minimum map your CRM status, your lead and contact status in CRM to the life that the life cycle status in market also, you know, whenever a CRM lead and contact status up update to X, Y, Z, that would drive whatever the corresponding life cycle status change inside market. When James was doing a demo, he showed us how you could edit the transition rule directly in that smart list view inside the mother. However, I would highly recommend create a dedicated life cycle management program with all the smart campaigns to manage the life cycle transition and related tracking having a smart campaign to manage the transition just does a lot of wonders because having a life cycle, having a smart campaign in place will help you kind of track the membership. It will give you the smart campaign results. So it also kind of give you more visibility when you have all that. What happens in a life cycle transition? So for various reasons, I would highly recommend that you dedicate, create a dedicated life cycle program to manage the transitions. And I think James, you also when you were at Marketo at Marketo, Marketo, you also create a lot of custom fields for reporting purposes. Can you share with us? Yeah. Yeah. Yeah, no problem. So I think one really helpful thing, especially if you do any if you do any offline reporting, I know sometimes like more like larger teams, larger marketing teams might have like a business analyst or something like that that does reporting out of Excel or Power BI or something like that. So one important thing to have here is your life cycle stage as an actual like string field within Marketo and maybe even if you want it in your CRM, create it in your CRM first and push it to Marketo. It’s always the easiest way to do it. So life cycle status, life cycle stage, things like that, so that when you’re reporting, you can pivot off of that field and say like, OK, I’m looking at everyone in the education industry that we have in our life cycle, where are they? Do we have MQL that haven’t been followed up with? Do we have people in opportunity? Obviously, you would do some opportunity reporting for that. So always important to have that there. And then date time stands for key stages. So let’s say MQL specifically, if you have that two day SLA on the MQL or let’s say you even have a two hour SLA. So we send we send a lead that’s that requests a demo or requests to be contacted by sales and even in the notes, they’re like, please call me now. It’s like they’re raising their hand. They want to be talked to. So it’s very important to to stamp that date as a date time stamp. You can do the date as well, but date time’s a lot more effective so that you can look at on average the amount of hours between MQL date time and the SLA time, because that SLA then gets stamped when someone when the rep goes into Salesforce finds the lead and and flips the status to accept it. So there’s that. There’s also like maybe that lead came in after hours. You know, we’re not going to expect that a rep is going to pick up the phone and call someone when they requested them at two a.m… So you just want to make sure that it’s a it’s a good way to track what’s happening in your system and what’s anything you want to do offline.

And since if you go to the next slide, I think I have an example of that, so I know there’s a lot of numbers on this, this is these are all made up numbers. But I just what I just wanted to show here is something that you might be able to build after you build out your life cycle with kind of exporting data. So you can you can use the actual online information or the the online information, though within Marchetto information to do your reporting. But sometimes people want to see those dashboards and that information in a different way. Totally understandable. It happens, you know, not everyone has access to Marchetto. So do you want to show this data in another way? This is a good way to do it. So let’s say on the left here we have leads, marketing qualified leads, sales accepted leads, sales qualified leads, S.A.O., sales accepted opportunities, and now they’re an opportunity and close one. So if we’re looking at this reporting and let’s say we break it down by segment, we have growth, mid market, enterprise and like education, those are maybe the four segments that you sell into in April, you were able to create this many leads per segment in May as well. And so let’s take those totals, put them in row S there. Well, divided by two. And basically that’s what we can do for every month of the coming quarter. Now, as we look at that, we say how many of those leads did we convert in MQL? How many of those MQLs were accepted by sales? Things like that. So as they go down the funnel, we’re looking based on our date time stamps that we that we set up. We’re looking at what the the conversion percentages are. So when sales comes to me and says, hey, I need more qualified leads, like I need more leads and I need them more qualified. And it’s like, OK, you get to pick one of the two. But we’ll we’ll talk. I’ll tackle that another time. Then I can go to them and in row T there say, OK, that’s totally fair. We can work on that. Why are only twenty five percent of sales accepted leads being accepted by the AE when they’re passed off? Or why are only twenty seven percent of our growth accounts that we open an opportunity with going to close one? You’re able to take this data and make informed decisions. And you’re also able to say, hey, we’re happy to to make a concession here, but we also have these levers further down the funnel to say that this is important as well. So just a good like kind of an example of something that you can that you can do after that lifecycle set up and after data starts running through it, you can look at past historicals and you can make more accurate projections for the future.

Thank you, guys, we are running low on time, but I’m going to quickly go over a couple of upcoming events before we get to Q&A. Thank you again to James and Cynthia for that informative presentation and demo. Again, this is being recorded so you can watch all that back on your own time. So quickly to go over a couple of upcoming events hosted by myself and our team. As 51ºÚÁϲ»´òìÈ customers, you get access to all of our customer exclusive events. So we’re really excited. We have a new series that we’re launching next week on June 15th called Perfect Blend. We’ll be talking about AM assets and work front and how they really are perfect blend of 51ºÚÁϲ»´òìÈ products. We’ll be focusing in on the content supply chain strategy. Really excited for this one. And the link to register is in that handout that you can download from the control panel will also follow up with the link in the web, in the. Email that has the recording of today’s webinar and then on June 22nd, we have our next Commerce and Coffee and we’re going to be covering how to empower B2B success. We know B2B is the big buzz for many businesses now. So that’s what we’re going to be covering on our commerce agenda next. And then lastly, we have another event hosted by our friends in the marketing team, and this one is a learn from your peers event. And they will be discussing how to track, analyze and optimize your marketing campaigns in Marketo. So that one is a little more specific to the Marketo folks, you guys on this call. So that’s going to be a great event. And again, the link to register is in the handout and we’ll follow up with all those links as well. Then at the bottom of the screen is a reminder that you can find all the recordings of our past events. We have a link to our upcoming events as well on ExperienceLink. So be sure to check that out. And quickly before we get into Q&A, you may have seen that as an attendee of today’s event, we want to thank you for the support and continuing to show up to our webinars. So please keep an eye out in your inbox in the next couple of days for an email from us, which will include a link to treat yourself to a coffee or mocha or whatever your caffeine of choice is. That will be on us. Thank you guys for attending today and keep an eye out for that. All right. We only have a couple of minutes left, but I think we were able to hit on a lot of the questions that were coming in throughout the presentation. I’m going to start with a few more that were flagged from the Q&A section. So whoever, James and Cynthia, can jump in and answer. How do people populate the lifecycle model? Do we need to create a smart list to push people into the model? That one’s from Brian. Yeah, that’s a that’s a good question. So one of two things can happen when you validate all the stages within the lifecycle and you go to approve it, you can set the initial like basically if no new leads created are going in the lifecycle and you want to do it on in some other way, like a smart campaign, or you can set that when someone is created in your system, you can go and change them automatically to known. So the use case for that is basically like if you have multiple life cycles selling different products out of out of one Marketo instance, then you would want to make sure that you set those, you know, kind of like that traffic cop system somewhere else in Marketo and select that none of the leads automatically go into that lifecycle. But it’s basically all new leads created are going into your your lifecycle. That’s perfectly fine. OK, yes, so I mean, that blueprint that we talked about earlier, just making sure you have the definition of who should qualify to be in that particular stage. So you would use that as kind of your smart list criteria. And then you could either enter the smartest criteria directly in that transition rule or you could set up a separate smart campaign to say, hey, my smart campaign flow is to whoever that qualify my smart list based on my logic, my criteria, I will I will, you know, move them into whatever stage in my lifecycle modeler. Great, thank you, guys. All right, this one’s from Elizabeth. How do you recommend nurturing? Should you have separate nurture streams by lifecycle stage? Yeah, definitely, I think there’s a great question. So, yeah, another beauty of having a lifecycle set up is that you have a much clearer vision of understanding of who is in top of funnel, who is in middle funnel and who is the bottom funnel. So you could kind of tailor your nurture based on people on the top of funnel stages. You could you could have automation and say, hey, people enter the stages. I automatically drop them into my top of funnel nurture stream. And then as they transition to the funnel, that could be your transition in your natural program to capture them into the the middle funnel, bottom funnel, your content. Yeah, I totally echo that. And, you know, it’s like if you if you shake hands with someone that you’ve known for five years and you go up and say, hi, my name’s James, like you’re messaging based on how well they know your company and your product and your offering, then it changes. And so using that lifecycle stage is very important to know that you’re talking to someone, especially the way that they they want to be engaged with. Right, I know we’re at time, I’m going to ask one more question just to try and get as many as we can here and then we’ll wrap up on this one from Brad. SDR team follows up on all leads created MQL and non MQL. How do we account for the non MQL that progress? I would and like I try not to sound like just like an edgy contrarian here, but I would say that they shouldn’t be following up on all leads created. You know, if they create a lead, they want to outbound to that lead. That’s totally fine. You can you can put a stage in there that’s like working or outbound or something like that. But essentially, the way I would approach this is look at the conversion rate into accepted or opportunity created, whatever the next stage would be from MQL and non MQL and see if non MQL are actually a good use of their time. Because if you can take away some of their responsibility of following up with those leads and pivot that to some marketing automation, basically creating a nurture to help get those people sales ready and their score increased for engagements, then you’re going to actually have a much warmer handoff. And it’s I would I would basically just say that, you know, you get to define what the MQL is and if they’re not ready to MQL, then the sales rep doesn’t get to follow up on it yet. Got it. Thank you. All right, I know we are out of time, so I’m going to wrap us up here. If we were not able to get to your question today, please follow up with your success account manager for more information. As a reminder, you will be getting today’s recording 24 hours from now in an email from GoToWebinar. And as you’re leaving the session today, a quick survey is going to pop up. Take you less than two minutes to complete. If you could do that, that would be fantastic. And I want to thank James and Cynthia for presenting today and thank everybody online for joining us. And we hope to see you guys at one of our events soon. So hope everyone has a great day. Thanks, everybody.

Thank you.