Socialbakers Experience Higher Deal Values and Reduced time to Close using Marketo
- Higher deal values and reduced close time
- High Quality Leads increased by 250%
- Ensured sales and marketing operate as a tightly integrated team
Half of all the companies that comprise the Global Fortune 500 use Socialbakers’ social analytics platform. The Czech Republic-based company empowers brands and agencies of all sizes to compare their social media performance to competitors and industry standards and get better.
The company’s metrics are staggering. Launched just six years ago, Socialbakers already has more than 2,500 clients across 100 countries, and tracks, analyses and benchmarks over eight million social profiles across all the major social platforms. The company’s mission? To become the industry standard for the way social marketing is measured and optimized.
Marketo is a cornerstone of this mission. Until recently, Socialbakers’ marketing team was sending its unqualified sales leads directly to the sales team, without direct insight into each lead. As a result, the sales team was wasting time—precious selling time—identifying which were the warm versus cold leads, and how best to target them.
That all changed with Marketo, as Jana Holanova, head of Global Campaigns at Socialbakers explains. “Lead generation is a key focus of the company; however we traditionally performed minimal lead scoring and nurturing. The leads revealed in marketing campaigns went straight to sales. Marketo now lets us identify the right leads for the sales team. As a result, Socialbakers increased the proportion of pipeline generated from inbound leads from 15% to over 70% leading to higher deal values and reduced close time.
- Score, nurture and qualify leads prior to them being passed to the sales team
- Eliminate the fragmented relationship between sales and marketing
- Target most lucrative audiences and sequence the messaging, based on prospects’ social media profile
Unified sales and marketing operation
Today, sales and marketing are operating as a tightly integrated team: with Marketing generating, scoring and nurturing the leads—and Sales taking them through to closure. “The senior leadership team is the latest to see the value in Marketo,” says Holanova. “They are tremendously excited because they can see what marketing is bringing to the pipeline. This reporting capability has definitely raised the profile of marketing and its responsibilities.”
One of the key benefits of Marketo is the Salesforce.com integration; something Holanova refers to as, “Simply incredible; it’s as though the two companies operate as one”. That unified environment has led to unprecedented business agility. For example, marketing and sales recently worked together on a highly successful lead scoring model.
Social campaign success
For a company that specialises in social media performance, social media marketing automation is a prerequisite for Socialbakers. And here again Marketo delivers. LinkedIn Lead Accelerator, for example, is used to deliver high-quality leads to the sales teams by engaging prospects anywhere online with relevant ads and content. It gives Socialbakers the flexibility to the target your highest-value audiences and sequence the messaging, based on the profile and onsite behaviour of prospects, across display and social ads, and LinkedIn Sponsored Updates.
“We can target the industry, the job title, country and other domains on LinkedIn profiles—that personalization is very important and has definitely contributed to high quality leads and an increase in revenue through social media marketing,” she says.
Transforming Marketing from a cost centre into a revenue generator
Holanova and her team are also using Marketo Analytics to measure the impact that the marketing campaigns have on revenue, and help transform marketing from a cost centre into a revenue generator. She explains, “What I love about analytics is that we now have visibility into what works and what doesn’t. Using Revenue Cycle Analytics we can see the cost per lead in every single stage of the funnel. That way, we can stop programs that don’t work and invest money into programs that do. This is a game-changer is marketing, because previously I had very little insight into what worked and what didn’t.”
As might be expected, the marketing team’s primary focus is on the return on investment (ROI) from each demand generation campaign. Marketo gives them that insight: they can quickly view the price per lead in every stage of the funnel and the ROI. “With the visibility into what works and what doesn’t, we have decreased the cost per lead. Simultaneously, nurturing and lead scoring has enabled Socialbakers to increase the number of high quality leads assigned to sales by 250%.
The Marketo implementation was straightforward too, with Socialbakers going live in less than one month. “I would definitely recommend Marketo Consulting Services, as it’s not only about how to build a program or how to create a smart campaign; it’s also about your business—what your goals are and where you want to take marketing,” she says.
Looking ahead, Holanova wants to focus more on the personalization: moving to one-on-one nurturing. Recently for example, the company executed a 100% personalized, data-driven email with different data points showing the recipients social media performance. But they want to go further, including personalizing the website. Marketing campaign localization is another priority. With 11 offices worldwide, Socialbakers is looking to target customers in their local language for even greater campaign success.