Automation triples marketing output, contributing to a 2.4X increase in marketing-driven revenue
Spigit leverages Marketo to achieve productivity gains and position the marketing team to scale activities in step with the company’s unparalleled growth.
Spigit, a wholly owned subsidiary of Mindjet Corporation, is enjoying extraordinary growth. In the past year, new subscription revenue for its industry-leading innovation management software grew 185%. Millions of people in 150 countries use Spigit software to crowdsource and manage ideas as a part of their enterprise innovation programs. Through these programs, Spigit users have collectively generated more than $1 billion in increased revenue for their companies. Melissa Matlins, VP, Demand Generation and Global Marketing Operations is excited about marketing’s role in driving the company’s record momentum. Due to Spigit’s rapid growth, however, her team had outgrown its marketing processes and tools. So she embarked on an initiative to reinvent these processes, automate manual efforts, and gain insight into campaign and pipeline performance. Melissa fast-tracked the overhaul with Marketo, which the team rolled out in two weeks.
Transform marketing to support Spigit’s extraordinary growth
Deliver more marketing-sourced opportunities to sales to drive revenue
Gain visibility into how campaigns and channels are performing to optimize marketing spend
Boosting marketing-sourced opportunities
Until eight months ago, marketers at Spigit were engaged in what they called “random acts of marketing,” lots of marketing activity with unclear ROI. Their efforts were hampered by outdated software that didn’t offer visibility into the prospect and customer lifecycle, nor did it provide a means for assessing campaign performance and contribution to pipeline. Consequently, Melissa and her team didn’t have the data they needed to make informed decisions about where to allocate resources for maximum impact.
Additionally, creating campaigns with the previous software was cumbersome and time consuming, so marketing simply could not keep pace with Spigit’s rapid growth. Marketo’s ease of use combined with its productivity-enhancing features such as cloning and templates has slashed campaign creation time.
"With our previous software, it took a full week to put together a webinar campaign. We were lucky to produce one webinar and one white paper campaign each month. Our lack of productivity showed: 80% of opportunities were sourced by sales while only 20% were sourced by marketing. Now, with Marketo, we can put together a webinar campaign in about an hour. We literally tripled the number of campaigns we’re running without adding staff.”
Optimizing marketing spend
With Marketo, marketers have not only tripled their output, but also they’ve freed up time to focus on analysis and strategy. Marketo data is providing visibility into which marketing channels are contributing to opportunity creation and revenue generation. For example, performance reporting has enabled marketing to analyze the sales opportunities generated by each of the different events in which the company participates. As it turned out, many of them were not driving enough opportunities to justify continued investment in them. Additionally, it became clear that digital marketing and spigit.com were successful and cost-effective channels that could deliver even more value with the right optimization and testing strategy, so marketing is investing more resources in both.
"We’re now able to take a step back and ask ourselves what we can do to make a campaign more effective, every time. We saw that our video and written content is a huge driver of engagement, and we’ve now hired a content marketing specialist. We can justify that investment because of the results we’re able to deliver with Marketo.”
Learn more about Spigit here