In a recent webinar, Theresa Worrell from Insight explains how she successfully implemented predictive marketing at Insight and what other marketers can learn from her experience.
Predictive marketing is enjoying new-found–and well-deserved–standing among B2B marketing organizations. Unfortunately, many marketers don’t have a well-defined objective and a structured plan–two basic necessities–for adopting and successfully launching predictive marketing in their organization. Theresa Worrell, Marketing Analytics & CRM Manager at Insight recently joined us for a webinar explaining her plan and best practices for developing a predictive marketing program that provides insights to sales and marketing organizations.
Piloting the marketing analytics and CRM teams at Insight, Theresa puts over 20 years of experience in data analysis, customer engagement and business practice management into play. Prior to joining Insight, she was a consultant for large corporations and start-ups.
The key parts in a predictive marketing adoption plan, according to Theresa, are people, process and tools:
To render predictive marketing operational, Insight developed a dedicated team to become subject matter experts. “We needed to build a predictive marketing team that would understand more about our clients’ behaviors, attributes, and indicators,” Theresa said. “We have a BI team that provides exceptional data in buying patterns but we had bigger plans. We were planning to take that information in partnership with them and then execute in a way that makes those things actionable, enabling us to target the right clients for our technology offerings.”
According to Theresa: “Concentrating on people goes beyond putting together a data team to support your efforts. A leadership team that supports the effort must be in place. A sales team that grasps why you’re doing what you’re doing is critical. The third component is that everyone must work together in harmony.”
Predictive marketing should be woven into your sales process. “You have to think about what your existing sales cycle looks like. Does your sales team call on leads and turn them into opportunities? Do you have a lead qualification team? By that I mean, do you have a separate set of people that calls and warms up a lead and then passes it over to an account executive or a salesperson to work? Do you have a sales operation unit that works in parallel with the sales team?”
At Insight, predictive marketing supports the sales process in three major areas:
- Implements a sales qualification team. This team is accountable for qualifying all digitally-produced leads. Once they identified a buying opportunity, they converted the lead and assigned an account executive.
- Develops a prime target list: The Insight team used “campaign plays” to assign sales team activities within the CRM to tell salespeople to call contacts within their account. Employing predictive marketing, they informed sales which contacts they should be working on.
- Provides a “client profile” tab in the CRM: This tab had company attributes, marketing indicators as well as specific information about cloud and mobile data centers, partnerships, other technologies, and IT hiring. The goal was to facilitate the start of a fruitful conversation between sales and the contacts, allowing sales to comprehend why these contacts were more likely to convert than others.
“The tool that we picked, Mintigo, did all of the heavy lifting. That way our analysts didn’t have to spend time on a lot of in-depth, data science stuff,” Theresa points out. “Mintigo empowered us to easily build models on our own and analyze the data. We wanted to establish that anyone could run the model, that the models were easy to understand and that the indicators that flowed from the models were also easy to grasp.”
After sharing these three steps, Theresa revealed her Mintigo experience: “Our association with the Mintigo team has been an essential part of making all this happen. We had really been struggling to get a handle on things. And when we were overwhelmed, they were able to partner with us, jump in with both feet and make things a lot easier for us. Needless to say, there’s been a lot of white-boarding going on.”
While predictive marketing is gaining prominently in popularity among marketing teams, marketers must be aware that they need a robust plan and a sensible process in order successfully adopt it within their organization. Theresa provided some thoughtful insights that every marketer must consider when contemplating this innovative technology.