How does Marketo work
Marketo gives us a competitive advantage as most companies use CRM but not marketing automation. We can now have unique, personalized dialogues with our customers. Workflows make our company more dynamic and also more intelligent from the customer's perspective. We can also create a larger pipeline with the same or fewer resources. That's why marketing automation is currently a more important strategic weapon for me than CRM. We simply couldn't have successfully implemented our new sales strategy without Marketo. << Stephen Yeo, European Marketing Director <<
- Increased share of the proven marketing effect on the company's total turnover from less than 10 percent to 26 percent
- Increase in the results of marketing campaigns by a factor of five, without the expenditure of additional funds or resources
- Duplication of CRM contacts in the system through incoming inquiries
- Increased motivation, more innovations and greater satisfaction in the European marketing team
- Transparency about the influence of email campaigns on sales figures
- Possibility of data analysis for informed decisions regarding future campaigns
- Extended cross-sell opportunities through lead scoring
- Sales teams can have more relevant and stimulating conversations with prospects to build long-term, lucrative customer relationships
Panasonic Systems Communications Company Europe (PSCEU) is the European representative of the B2B area of the Panasonic Corporation with a turnover of over € 500 million.
The company's aim is to simplify the work of skilled workers and to help their companies achieve greater efficiency and performance.
The company's products help to capture, process and transmit all types of information: image, voice and text data.
Products include PBX phone switches, printers, professional cameras, projectors, large displays and rugged mobile PCs.
The company has around 370 employees, has engineering expertise, global experience in project management and a large partner network in Europe.
With this combination of skills, the company is way ahead of the competition.
The marketing team has an enormously large and complex task: more than 460 products that change frequently, thousands of accessories and 63,000 pages on 72 websites in 22 languages - one of the largest B2B websites in Europe.
Panasonic Europe merged the various B2B divisions to PSCEU in 2012. The aim was to integrate the different customer databases and thus simplify work with them. At the same time, sales should be focused on the larger customers and the run rate with the channel should be maintained.
“We wanted to focus our sales strategy on larger customers without losing the run rate in our channel,” said Stephen Yeo, European Marketing Director of Panasonic System Communications Company Europe.
"We also wanted to improve our market penetration and cross-selling opportunities so that our overall marketing investments would be more effective with closer collaboration between the sales and marketing teams."
Yeo and his team evaluated ten providers based on specific requirements.
Marketo made it to the top of their list because it offered better and more varied options. Marketo's insights into the company's marketing needs also contributed to the selection of the marketing automation platform.
"We needed a powerful marketing automation system that would optimize our ROI, support our expansion into new markets, and enable our marketing team to do more with less," said Yeo.
“We chose Marketo not only because of the many possibilities the platform offers, but also because Marketo has very in-depth marketing experience.
They understand how marketing works and what marketers need. Marketo doesn't just sell IT applications.
We also wanted a marketing automation tool that the average marketing manager can easily understand and use. We didn't want to be dependent on the support of the IT department. "
The company integrated Marketo with the existing Salesforce CRM solution, imported over 55,000 contacts and trained 50 employees. Marketo has been launched in 25 countries in Europe.
In the first 18 months after Marketo was launched, the proportion of the pipeline that originated in marketing campaigns grew from under 10 percent to 26 percent.
In addition, the volume of marketing campaigns increased fivefold to over 100 per month and that without having to increase staff or marketing budgets.
That corresponds roughly to a campaign every 2 hours with just 25 employees in the operational marketing area.
All campaigns are carried out solely by the marketing team, without any support from other departments or consulting companies.
The contacts in the CRM system have doubled from 55,000 to 110,000, largely due to the collection of user data from marketing activities such as events and from incoming web forms.
“Marketo gives us insight into the buying and online behavior of our potential customers,” added Yeo. “These days, buyers have made 70 percent of their purchasing decisions before they even speak to a seller.
We now have a much more comprehensive overview of online behavior. The lead evaluation also gives us better cross-selling opportunities.
Our sales teams can make the first conversation with a potential customer much more targeted. All of this changes how we interact with our customers. Marketo gives us a strategic advantage, and I believe that marketing automation will soon be bigger and strategically more important than CRM.
Without Marketo, we simply would not have been able to successfully implement our new sales strategy. "
Looking to the future, Panasonic plans to set up a partner portal for more than 26,000 contacts from all channels. A complete workflow and marketing automation is to be implemented in this in order to enable greater transparency for leads and to improve interaction.
Due to its success in Europe, Marketo is now also used by Panasonic's B2B division in North America.
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