May 13, 2021 | Data Heroes
Corey Bayless, Marketing Automation Program Manager at Amazon Web Services (AWS)
Find system limitations and then expand outward
"Find system limitations and then expand outward." Corey’s digital marketing and technical experience is founded in Marketo and has aided his career in code and data analytics to deliver responsive content for campaign initiatives.
In this episode of The Data Heroes Podcast, Corey Bayless (Marketing Automation Program Manager at Amazon) explains the state of the digital marketing world, and how technology can enable ABM strategies to improve lead scoring and ICP targeting. "ABM allows for you to create a hierarchy and find who those decision makers are."
Corey also discusses opportunities laid bare by data compliance laws, lead to account linking, and improving user-facing content solutions that target customer issues.
2021 Business Strategies for customer solutions.
Marketing Automation in 2021
"The foundation of any business strategy in 2021 and onward is going to be your data pool. It's the most important aspect of market automation. Especially with the pandemic and how the industry has completely shifted. You no longer have that brick and mortar experience anymore. People are not there, they're more in their houses, right? So that digital front has to be so strong. Your content that you're delivering to the customer has to be specific to the problem that they're trying to solve. And your solution has the opportunity to solve it for them. And your messaging that you want to create is, ‘Here's my product. Here's this customer problem that they're trying to solve. Here are all of the aspects of how my solution solves those problems’. Those are the customers that you want. Those are the customers that you want to listen to."
"Well, when you're doing B2B, you're not selling to the customer, you're selling to the business. You're solving the business's problems. The employee is somebody who is going to instigate and push your solution opportunity to the decision-maker, right? And so ABM allows for you to create a hierarchy and be able to scope and find who those decision makers are. And if you have a good lead score set up, those two things will start to talk to each other and it will generate an account score. And then, from that account score, you can start kind of tiering your accounts based off of what your highest account score is. And you can go from your basic lead score to your demographic score, to kind of anything else that you think is going to help tell you those metrics."
Outputting the Account Score Value from Marketo
"I love Python. I swear by it. It's incredibly powerful and it's very syntax light. You can create a program that would extract that value that you want from your account score. That's basically created by ABM Brain. It's a combination of all the lead scores brought together divided by some specific metric that is hidden and nobody knows about. Then they basically developed the account score and then from there, you can extract all of the values from that account list. You can store it into some type of external database in the cloud, and then you can ETL that data into your CRM and you can attach it to those specific leads by that target. That is a real highlight."
Targeting Data Flows
"Marketo is about targeting and where your data flow is. If you're creating all of your hierarchy in terms of how the data entered the system, how does it get pushed into your CRM? How does that flow back into ABM with all the various things? You make all those things align and you make sure that your sales is really trained up on what those things mean. That downstream impact for how you can do your targeting based off of ABM becomes a much easier simplified process."
Opting People In
"If you can successfully opt people in, mark when they opted in, how they opted in, the form they came through, and all those various things, and you have the ability to create that nice little container. That box of data that is like your key, like a critical lifeblood for your company. Your sales is going to really appreciate it because instead of having to cold call. My sales background came from cold calling. I was just straight up calling businesses with no prep, no work, no nothing. And you had to basically go from an introduction of who you are into a full long conversation into, ‘okay, here's my pitch’. You have literally 45 seconds to do that entire process. It's super hard. It's not easy to do. And digital marketing is the same way. Except the nice thing is, is when you have the ability to really put your company out there and you have the ability to have a clean experience."
Customer Obsessed Approach
"I see how data is transferring through the system. I know that out of all the 10,000 bad leads, you've got those really important thousand. You need to make sure because you have only a few opportunities to talk to that person. The second that they unsubscribed from your marketing content, you can't talk to them anymore. Right? And if you do talk to them and they get mad at you, you have legal problems coming after you now because of data hygiene and data compliance. So yeah, it's a lot of things, but really making sure that your experience that you're providing is in a customer obsessed approach and is nice and clean, and doesn't make your company look like you're trying to do nefarious things. And if your delivery is good, you will see those results. That's the basic premise."
- Intent Data and Compliance. GDPR laws are currently very critical for success for all businesses in the world. According to Corey, companies that follow compliance and aim to effectively opt people in are seen as doing the right thing by consumers and greatly improve brand image. It lets businesses know when and how online forms are filled out and informs that customers are asking to be directly marketed to. "This gives you the ability to create that nice little container, that box of data that is just like your key, a critical lifeblood for your company. Your Sales team is going to really appreciate it."
- Cold Calling Sales. Corey started his career in Sales cold calling customers. He cites how difficult it was explaining who he was and why he was calling within a short 45 second introduction and with no preparation. He draws comparisons to modern digital marketing and how cold calls have been replaced by prospects now doing company research themselves. Corey explains that due to this shift, companies need flawless, incredibly professional content and websites for smooth experiences. "Content has to be clean. That means your code has to be on check too. You need all those things in line to build the customer trust. Right? Our company is about customer obsession. So how did you get that person to give you the accurate data? Your content, your webinars, the things that you're providing helps solve their problem and fills needs, because time is so valuable."
- Linking Leads to Salesforce Accounts. According to Corey, Marketo Sales Insights (MSI) is an important tool to use when linking leads to accounts within Salesforce. MSI informs you of the varying trigger components representing intent and depending on your CRM company information. Corey says in this scenario, leads should be tied to Salesforce accounts 100% of the time. "When a lead comes into your CRM, you're able to see all the activity and interesting things that person does. If you're using MSI, it can tell you all of the trigger components like; they have different symbols to represent different intent, etc. Marketo allows filters to easily find and target that data."
- Compliance Law. In relation to the expanding data laws, Corey says it's vital to have a solid strategy in place to handle and get around the mechanics. Due to compliance, companies are progressively finding it more difficult to initiate communication with potential customers. However, Cory suggests companies might be in the clear if they already have a database contact affiliated within the target account provided. "And you can expand your reach outward because you want the person that you're communicating with in that company to be on board, with the product, but also use them as a referral."