July 1, 2021 | Data Heroes
Maxwell Maurier, Director, Marketing Operations and Analytics at Druva
"How do we consistently align with sales?"
Max and his Marketing team continually uphold this question to strive to overcome this challenge. By implementing holistic company alignment, tactics and strategies are more likely to succeed, allowing teams to become more effective marketers and sellers. In this episode of The Data Heroes Podcast, Max Maurier ,Director, Marketing Operations and Analytics at Druva, talks about accurately identifying, targeting, campaigning, and selling to ideal account profiles.
"Part of our strategy is propensity modeling." Druva’s strategy includes utilizing 3rd party data to find high level accounts with commonalities; “The common intent signals, common demographics, to try and put together a target account list”. Using intent data, Max and his team then go after high intent accounts that match their ICP, marketing to those accounts through campaigns. Max exclaims that this strategy’s success relies on holistic alignment between sales and marketing. "If we're just generally on the same page, it's a really helpful platform for us, for our automation and marketing purposes." Max and host John Kosturos also talk about revenue planning, dirty data, branding yourself in Marketo, and analytics tools.
How Maxwell Maurier brands himself around Marketo
The Marketo Community
"I started to really get an understanding of how impactful the community could be, not just from a brand building perspective, but just from a general education perspective. And over the years I've tried to look up to the folks who were in the champion group or in the user group leader position to understand what they did to get to where they did. And to be honest, a lot of it is just about being interested in doing it. You don't have to be someone out there writing books about Marketo to be a champion or use a group leader position. You have to just be committed to self-education and working with people who know more and less than you to create somewhat engaging content that's helpful to folks in the community."
Identifying Ideal Account Profiles
"We are moving in the direction of ABM or Account Based Everything, if we want to go with the ABX acronym. But it's absolutely a work in progress. I think that's the same for most companies. I think there's very few cases of people really doing Account Based Marketing the way we've heard described to us in conferences over the last decade. Part of our strategy is propensity modeling. So we use a third-party platform to help us put together propensity models by product interest. It's a pretty standard process. There are several tools that do it, but it takes their baseline group of customers or a subset of those. If you're looking at a particular product or market segment, et cetera, and then it finds the commonalities, the common intent signals, common demographics to try and put together a target account list that can be really helpful for marketing for a number of reasons."
CRM Team Relationships
"We've got a separate business operations team that owns sales operations and the business intelligence team. We are just constantly chucking stuff over the fence at them. We have constant interaction with them. My past few roles were revenue operations centric and I think one of the key benefits from that was having a lot more input and awareness of CRM administration. I think that as you move up the marketing ops chain an understanding of your CRM is crucial."
Max’s Marketo Advice
"I would urge people, whether you're brand new to Marketo, or you spent several years working in it; don't lose sight of the functionality available to you within Marketo itself. You can go spend $30,000 on an external tool to improve your landing page experience. You can also spend $30,000 on a consultant or on your own education to learn how to optimize landing pages within the context of Marketo. So I think there's a lot you can do within the platform. But I think people should just focus on those basics before branching out. Learn how nurture programs work. That's core functionality. That's incredibly helpful to learn how things like dynamic content work for content optimization and segmentation and snippets and things like that. They are all available within those three primary aspects of the platform. So I'm a Marketo purist, but I think between the basics there and just a general understanding of the business fundamentals and the sales process, that's where I try to push folks on my team both past and present."
- No Need For Sales-Marketing SLAs. The relationship between Sales and Marketing at Druva is mutual. They aim to maintain understanding and transparency of one another to work better cooperatively as a team. Max states that despite the Marketing and Sales Development Representative teams being structured separately, they still work really closely together within their partnerships. "Luckily we've got a really positive, constructive relationship with them. It's a traditional qualified lead structure and so we've got a clear understanding that those take priority. We've got those split really well. Our marketers have done a great job of clarifying talk tracks based on product interests and things like that, to better help structure SDR follow-up. So we haven't needed to force real SLAs. There's an understanding between the teams that's been well-managed."
- Combine 1st and 3rd party data for Propensity Modelling. Max highlights that he has a general tendency towards preferencing 1st party data over 3rd party when identifying business profiles to sell to. However, despite his preference, his company uses a mix of the two, including 1st party engagement data for propensity modelling. Max details that using this combination helps Sales by avoiding the sending of accounts that aren’t truly engaged. "That's a difficult hurdle to clear with a sales team. And that's one of those areas where I think it's all good and well to have a propensity model that marketing signs off on, and even in combination with first party behavior or intent. But if it's not incredibly crystal clear to your sales counterparts, exactly why someone's in front of them it's going to be a really tough sell."
- Link Salesforce and Marketo Contacts to the Account Database. According to Max, Druva is considering adopting a contact only system to improve the process of matching account insights to apply to the person-database. However, as Druva relies heavily on lead to account matching processes, they are searching for a routing platform to serve sales focused methodologies that rely on conversion paths and routing. "As those propensity scores changed, as that intent data changed on the account, it will also update on those records. So it's, we're at the mercy of our matching process, but that's kind of how we've tried to bridge the gaps. And now we can look at contacts as well as match leads. And there's still quite a few large cohorts of leads that will never match."
- Source of Truth = Business Intelligence Platform. Druva are at the early stages of implementing their ABM journey. Looking at account level performance based on propensity models, Max believes they currently don’t have the required analytics to achieve their marketing objectives. "Our marketers are really great about doing the marketing and we're still working through the actual measurement part of that process. Which is obviously hugely important... Maybe a little backwards, but it's working for the business, whether or not we can measure it. And so, as we work through that measurement, we have a constant feedback loop with sales, and we're hearing positive things about the leads generated from those models. We're in it’s progress right now. But our BI platform feeding off of our data warehouse and CRM are the source of truth for those insights."