I was fortunate to be able to attend Eloqua Experience in San Francisco last week. This was my 3rd EE in the past 5 years. I have to say there was definitely a different feel to the event. It could be the difference between Eloqua being a small, privately held almost family type organization compared to being owned by the behemoth, Oracle. I’m not saying it was a bad thing, just that it felt different. After spending a few days with the Oracle – Eloqua folks, I feel optimistic about seeing many benefits as a result of the Oracle acquisition.
There’s nothing more exhilarating for a marketing nerd or geek like myself than spending 3 days with other marketing professionals (nerds and geeks) who get the new marketing era we are experiencing. Three days of talking about optimization, automation, KPIs, analytics, etc. was some fun!
These are my top 10 takeaways from EE13:
- The speed of marketing technology change is accelerating. Many, many tools are available for a very reasonable price. As modern marketers, we are challenged to keep up with the speed of change. However, the tools do not automatically lead to success. Successful marketing still depends on the fundamentals like the 4 Ps, positioning, value propositions, engaging messaging and knowing your customer. I’ve always said the first step to successful marketing is in writing down a proper marketing plan. The tools simply enable the plan and the team to be more efficient and more effective.
- The Manufacturing sector continues to lag in adoption and full utilization of MA and content marketing. Engineers (broad generalization here) don’t seem to get the fact that marketing is not the same as it was in 1995. It’s not about the wonderful and cool products designed and manufactured. It’s about sharing expertise to gain engagement. That’s right, I said give away your expertise to your customers and prospective customers in order to help them solve their problems. In return you will gain more business and loyal customers.
- Lead scoring requires top level sponsorship and strong collaboration with the sales folks. The best way to gain alignment is with a unified team. Merge sales and marketing into one commercial team with one leader. Everything else flows from there. Lead scoring is not so much about the algorithm, it’s more about the socialization and proving how it helps the team be more efficient and generate more revenue. Step 1 to successful lead scoring is building a clean and complete database.
- Predictive analytics seems to be the same thing as ‘big data’. I have to say I like the term predictive analytics much better than ‘big data’. The practice of incorporating predictive analytics to the marketing strategy is the most exciting new development in modern marketing since the introduction of marketing automation. Lattice Engines claims they can obtain and automatically deliver any data you want or need to better target and identify high interest buyers. Predictive analytics is on the top of my ‘next big thing’ list.
- Tradeshow lead capture is finally available. No more spreadsheets and manual uploads. This technology enables direct capture at the booth delivering the lead straight to MA. Imagine automatically delivering a compelling follow up to a booth visitor on the same day automatically. At Event presented a good, versatile solution at the EE13 Showcase.
- New technology from a company called Bizo enables delivering ads to anonymous website visitors. What a concept? Seems caution is advised to avoid branding your company as annoying. Ads must be relevant and not too often or too many. The potential is huge!
- Data presented by David Frigstadt of Frost and Sullivan, shows the highest return on capital is not coming from product development, but from innovative business models. This seems to go together with number 2 above. Companies continue to invest heavily in product development and little in business model development and analysis. Opportunity knocks! One of the most effective business models in the Marketing 2.0 world is high value content marketing driven by marketing automation positioning the Marketing function as the revenue engine.
- Modern Marketers know what to do to drive revenue. It’s the executive leaders who won’t let go of the past world of sales feet on the street, product development and trade shows. Hey CEOs, COOs and SFOs, marketing isn’t just the people in the back who set up shows, design brochures and place ads. Modern Marketers drive revenue!! Companies who embrace Marketing 2.0 will have a huge advantage over those that do not.
- Scaling MA globally takes strong socialization, coordination, sponsorship, with strong leadership support.
- “Be patient and accept indirect value” Baratunde Thurston