Challenges

Email is a big part of Samsung’s marketing to keep customers and partners apprised about products, offers, and other activities. It is a highly effective communications channel, but Samsung had limited visibility into campaign outcomes. This made it difficult to make data-driven improvements.

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“We were not getting the results we wanted, but lacked the data to explain why. We needed more information, beyond just opens and clicks.”, explained Madeleine Thom, Senior Manager, Demand Gen & Marketing.

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Samsung chose Veryn to evaluate and revamp its Marketing Automation environment to improve the efficacy of email as well as provide insights into what was working and what was not. “Veryn's evaluation made it clear that changes had to be made to achieve our goal of increasing topline revenue by identifying the most profitable marketing investments. We needed to be able to accurately track and report every lead that enters the funnel as a result of a marketing investment,” said Thom.

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Solutions

1. In-Depth Assessment

Veryn

conducted interviews with key stakeholders to understand and detail the business challenges. The findings helped Samsung better understand where they were, identify key areas for improvement, and establish a plan for how to measure KPIs, including conversion ratio, funnel velocity, revenue attribution as well as the impact of content on pipeline and funnel. To understand the needs and requirements of marketing and sales, Veryn conducted a lead flow assessment. Insights into how leads flow through the funnel resulted in a blueprint to better enable sales and marketing by enhancing the role of marketing operations within Samsung.

2. Improved Reporting

Veryn determined what reporting was needed to improve lead management throughout the funnel. MASS worked with Samsung’s internal staff as well as many agency partners (e.g. advertising, paid media, social, digital, nurture, email) – about 50 stakeholders from key teams. Veryn was able to get everyone on the same page, align them around common objectives, and build the reporting capabilities that were needed to optimize campaigns and measure ROI.

3. Attribution through Entire Funnel

Veryn designed and developed attribution reporting that stopped the leakage between Eloqua and Salesforce. With the attribution reporting put in place by Veryn, every MQL is trackable through the funnel with details such as date in each stage, who touched it, what actions were required, and what happened. Samsung now has a fully accountable system that tracks every MQL that marketing generates. We have data about conversion at each stage in the funnel as well as velocity, so we can see how much revenue is attributed to marketing spend.

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Results

“Veryn's process was very thorough. Each part was well documented to clearly highlight findings and recommendations,” said Thom.

Samsung’s work with Veryn to deploy the lead management framework has radically improved funnel conversions. Junk leads were cut resulting in a 60% reduction in MQLs, while Opportunities increased by 10%. Sales rejected leads were reduced by 67%. Lead velocity was radically increased, cutting mean days in MQL status by 91%, mean days in SAL status by 90%, and mean days in Opportunity stage by 88%. These improvements resulted in a 183% jump in Marketing contribution to pipeline and a 60% jump in Marketing contribution to revenue.

Veryn continues to work with the team on conversion optimization, including reclaiming leads lost in the funnel. This not only eliminates system and process inefficiencies but also generates revenue.
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Veryn brings a wealth of knowledge to the table, not just specific to Eloqua, but also to overall best practices and processes from both a technical and business requirements perspective.

- Madeleine Thom, Senior Manager For Marketing Automation And Pipeline Management

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