Marketo has long been a foundational cornerstone of my marketing stack and career. I’ve personally been a Marketo customer twice, and proudly won a Marketo Revenue Partner-of-the Year award, back when I was running a consulting practice in previous life. But I’m most excited today to announce a new hallmark in my purple partnership -- CaliberMind has partnered with Marketo to help master customer data & analyticsand we released a new Marketo connector!
CaliberMind is a customer data platform that sits on top of an on-demand, open, schema-less data warehouse; allowing users to quickly blending external data with Marketo data. In non-technical speak:
We make Marketo better and your team faster. We do this by automating complex or mundane data tasks at scale. CaliberMind helps fill in and operationalize data blind-spots allowing you to uncover hidden revenue. An added benefit is replacing manual but sometimes overly technical processes that often prevent even the best Marketo users from getting maximum ROI from their technology investment.
I’ve spent more time than I care to admit working late nights in spreadsheets with company data. Let me explain why we’re making life better for Marketo customers (less pain for Marketing Ops and more leads for Demand Generation):
Advanced Account-Based Marketing Remember, you can store ANY form or volume of data in CaliberMind without being penalized. You can store every list you’ve ever purchased and the raw market data from of your Total Addressable Market (TAM) and ten enrichment vendors. You can use this data, cross referenced with visitor and intent data -- including anonymous traffic tagged by visiting company domain. Our ABM dashboard and recipes allow you quickly implement Lead-to-Account matching, Lead Routing, Territory assignment, bulk updates opportunities, account engagement scoring and auto-creation of new accounts for targeting.
Improved Attribution Flawed attribution models obscure a leaky funnel. For example, if a really good, profitable marketing channel is underrepresented, you may be leaving A LOT of money (and future customers) out there.
There are many ways to do attribution (multi-touch, single-touch, U-shaped -- the list goes on). If your attribution model is in Marketo/Bizable or uses Salesforce Contact Roles, campaign members, or UTMs tracked in Google Analytics -- we got you covered. We can bulk update Salesforce and Marketo objects as needed to repair attribution gaps, OR you can build your attribution models in Looker or Tableau on top of the CaliberMind master data warehouse (AWS Redshift connector). We’ve even included some example reports out of the box to get you started.
Lead and account-based scoring simulations One challenge of doing data work inside a relational database like Marketo is that one must update/edit all records to see what impact a change would have on the system. For example, say you wanted to see what would happen if you changed and email click from +1 to +5 points in a lead scoring model. How many new “A - HOT” leads would this change generate? Would this change overload the sales team? Perhaps +7.5 pts is the ideal number we should use. It’s very operationally and time expensive to experiment with +5, then +10, to settle on +7.5. This delay impacts revenue performance.
A CaliberMind user can quickly calculate different lead scoring scenarios (manually or using machine learning). Once they pick the model that works, they can confidently deploy the changes to Marketo! A bonus is that the CaliberMind version of the Lead Score can even consider signals, not in Marketo.
Prevent data bloat Customer Data Platforms (like CaliberMind) allow you to hoard or analyze data without creating custom fields, or sacrificing performance. So you can “backup” all list imports, vendor data, and 3rd-party data. Think of your CDP as a data refinery. Instead of creating custom fields and object in your CRM or Marketo for instance, you can build temporary fields to house temporary data on-the-fly. Overall user errors, broken processes, and SaaS performance often stem from data-field proliferation. It’s not uncommon for a mid-sized company to have 75-100 redundant or unnecessary fields in the sales and marketing systems.
Better personalization and click-to-open ratios I’ve always like the CTOR metric since it implies relevance -- i.e. “Out of all the people that read this email, how many did the thing I’d hoped they would do?” CTOR is a leading indicator that my personalized nurture programs are working. Common pitfalls of personalization include:
Not knowing company’s opportunity status for a unconverted lead (mailing to prospect email to a customer is embarrassing!)
Incomplete profile data (job titles no properly mapping to personas) -- imagine getting an email meant for an engineer but your’s a VP of Brand Marketing.
Wrong scoring -- or someone receives an message too soon or too late in the buyer journey
CaliberMind can drastically help mitigate these challenges by centralizing your enrichment, persona, and scoring data. With a bird's-eye view of which campaigns are actually performing to which buyers-- and even some cool AI to help us our -- we can rapidly update records as needed and make sure they're on the right "track" [nurture track, that is]!
Save API Calls (Running out is bad) Maxing out an API quota is like running out of change in a parking meter -- except instead of a ticket you pay with lost MQLs! Most software licenses have API limits to avoid system overload or wrongdoing. Each week, day, or minute these quotas are reset. Sometimes when you run out -- data flow is prevented from entering or exiting that system, grinding business to a halt! CDPs can process large volumes of data in your data warehouse or with our APIs, to mitigate the risk of overages in other systems (like Marketo).
Help enforce privacy (GDPR, CASTL, TCPA and other acronyms)
Recently, as you’ve probably heard, privacy laws for marketing have become much more strict. Having a centralized and encrypted database like a CDP allows you to audit, respect policies, and/or universally delete data as needed to comply to with global privacy policies -- avoiding potentially millions of dollars of exposure. PS -- Marketo has put together a great guide on GDPR-readiness.
Want to learn more about how we can make your Marketing Automation tool better? Reach out to us today.
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