Digital Marketing Level 3: Study Guide Purpose The purpose of this document is to help you prepare for the certification test within the Digital Marketing Level 3 Training Courses at DM University.
How to Use this Guide Read through the information below before you take the certification test to help you review best practices that are essential to your understanding of Digital Marketing and Demand Generation. Reviewing this guide should prepare you for the test ahead, as well as act as a summary of the best practices for Demand Generation overall.
Demand Generation Demand Generation is primarily about getting leads, building brand awareness and a compelling purchase need. Channels that are used in Demand Generation can include content marketing, SEO, online ads, social media, blogs, online communities, email marketing, webinars, video marketing, public relations and mobile marketing. Unfortunately 79% of all marketing leads never convert into sales. Lead nurturing is the best way to prevent this. Lead nurture programs involve sequences of emails that can vary based on the prospects behaviors. A marketing funnel is the sequential process designed to turn a lead into a customer, as well as the stages that your lead or prospect goes through as they move closer to a sale in a dynamic way. For example, in a nurture program designed to help a prospect download a white paper, it is possible that the prospect may not have even clicked on the link to download the whitepaper at all. In this case you could re-send different emails until they click and download the whitepaper, send them a different piece of content for the same buying stage or put them into a re-engagement sequence with a different offer altogether. Demand Generation uses both inbound and outbound marketing activities to achieve its goals. Inbound Marketing activities are designed to attract a prospect to your destination, offer or experience (such as a website or landing page). Outbound Marketing activities rely on the company reaching into the market to engage with prospects who may not know about the company yet (such as an ad campaign). That said, organically sourced leads often outperform paid ones based on consistency, volume, conversion rate and quality. In the end, any lead gathered, is called an MQL (Marketing Qualified Lead). Some confusion exists between the functions of Demand and Lead Generation with some marketers believing that all Demand Generation is about getting leads. In fact, Demand Generation is a multi-step process of which Lead Generation is one of the primary outcomes. Demand Generation opens the market for a product/service, creates awareness, discovers new audiences, develops brand recognition, begins the engagement process and nurtures target populations before they become real leads or prospects for sales.
By contrast, Lead Generation is the process of identifying specific prospects and customer types that are most likely to become customers by creating strategies, tactics and campaigns that will provide engagement between the prospect and the company or brand. In short, Demand Generation casts a wide net over a large potential population; while Lead Generation “fly fishes” for the best possible catch. The bottom line is that Demand Generation drives revenue by creating an awareness and a compelling purchase need in the customer or prospect for the product or service under consideration. To keep it very simple, your CRM is a software platform where all of the records about your customer, prospects and leads live, including any sales notes or qualification criteria. These records are incredibly important, and allow you to maintain and leverage your relationship, giving sales people the ability to be in context to any prospects needs, and customer service the ability to provide exceptional support, by understanding what needs to be done to solve a problem. In the end, a CRM is where any lead is stored for the sales team, and its the final destination of the Demand Generation process. Although a CRM (customer relationship management) system holds customer/prospect records and information, it’s the marketing automation system that actually allows sophisticated lead nurturing to occur. Before you begin you should define what requirements you have for a marketing automation system overall and then research your options (including platforms such as Marketo, Act-On and Pardot) to find the best fit for your organization. Key outcomes of implementing marketing automation often include ‘Total Marketing Revenue Contribution’, ‘Quantity of Leads Generated’ and ‘% of Leads Accepted by Sales’. Fully developed marketing automation systems provide information across all phases of the marketing process, including Demand Generation, Lead Scoring, Lead Generation, Lead Qualification, Lead Management, Lead Nurturing, Campaign Analysis and Sales Effectiveness. When considering how your lead nurturing process works you should always consider where that prospect sits in your buying process. You need to define your buying stages and map your content appropriately for each stage, based on where your prospect is in the buying process. You will need to ensure that your ideal buyers, are being addressed in the correct way based on their place in your buying process stages: In Discovery, you want to detail your competitive difference. In Consideration, we want to focus on ease of use. In the final stage, Decision, we need to prove a return on investment to get them to buy.
There are different levels of Marketing Automation maturity starting with one-off email programs and newsletters and some CRM integration. The second level includes tracking individuals on your website, building landing pages, scoring leads and multi-step email sequences. Step three includes setting a wider net with mobile-friendly marketing content; publishing to social networks and using paid search or social ads. It’s often not until you’ve reached the fourth and final level of marketing automation maturity that you’ll have revenue forecasts and resource management. Use Demand Metrics’ ‘Marketing Automation ROI Calculator’, if you want to measure the overall financial impact marketing automation can have in your organization. Lead scoring, within a marketing automation system, is an automatically applied and customized mathematical formula used to rank multiple potential customers in real time. Different variables are used to measure the quality of a lead including ‘Engagement’ measures such as how much they interact with the content you share with them. That said, it’s important for marketing and sales to agree on the definition and characteristics of a good lead, using ‘Fitness’ measures such as “BANT” qualifiers: Budget (is this a budgeted purchase?), Authority (can this person make the purchase decision?), Need (does the company need your product?), and Timeline (when is the purchase likely to happen?). Lead scores at the time of hand-off to sales should correlate closely with initial sales acceptance (based on what the sales team said they require). A measurement for lead scoring should include productivity, scoring operations, results and score accuracy. Over time many refinements and expansions of your lead scoring programs can enhance the effectiveness of your marketing automation system including negative points for disqualifying activities, higher points for hotter leads, account-level scoring, and different scores for different products. First impressions are critical, so watch results carefully during the initial period. Set up a formal monthly review of the leads sent, having sales team members rate them and compare their ratings with system scores. As before, explore the reasons for any major discrepancies and fix any obvious major flaws.