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5 Strategies That Increase Revenue Using Marketing Analytics

Posted on August 13, 2014 by Glenn Gow

Marketing is responsible for greater and greater amounts of the sales pipeline these days. Whereas in the past, a corporate marketing department’s goal was to “hand off” to Sales once an account was qualified, that line has become blurred, if not entirely eliminated. René Bonvanie, CMO of next generation firewall producer Palo Alto Networks, is a successful evangelist of the use of data science in corporate marketing. Calling it a “crime” for marketers not to use marketing analytics on the rich “data lake” available to them, and predicting that CMOs will spend more money on IT than CIOs in a few years, René shares with Moneyball for Marketing how marketing analytics produces often surprising insights that dramatically increase revenue. Here are a few of the lessons shared:

  1. Bust the Bubble: How to determine which opportunities in your sales pipeline have a greater propensity to close, and develop game charts of the winning moves to break through the sales bubble.
  2. Silence is Golden: When and why you should stop nurturing an account in your pipeline if you want to close the deal, and how to use marketing analytics to discover that.
  3. Lifetime Value: How to use historical data to determine the lifetime value expansion model of every individual account, and how having that empowers sales reps.
  4. Buzzwords: How to develop “buzz reports” from corporate marketing department observations to develop accounts and monitor all potential opportunities.
  5. Team-building: The importance of data science teams in a corporate marketing department, and where to find the skills to analyze interaction history, transaction history and other marketing analytics data.

René Bonvanie is the Chief Marketing Officer of Palo Alto Networks.  Palo Alto Networks creates and sells the next-generation firewall.  They are leading a new era in cyber security by protecting thousands of enterprise, government, and service provider networks from cyber threats. René has 25+ years of product marketing, business development, and general management experience  in the high-tech industry, having previously held executive positions at Oracle Corp, Symantec, Business Objects, SAP, Salesforce.com, and Serena Software. He is also currently serving as a board member for Servoy, Mintigo and Acronis. 
 
Read the full transcript here

Glenn Gow

Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on TwitterLinkedInGoogle+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.


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