Cancellations year over year
Time from lead acquisition to enrollment
Time spent on campaign creation
Americord marketers earn a 30% boost in the marketing budget with the help of Marketo
Stem cell therapies are delivering real-world successes in treatments for leukemia, certain cancer types, and other serious illnesses. Those successes are convincing more and more parents to invest in banking their newborn’s umbilical cord blood, a major source of stem cells. Americord® Registry is a leader in collecting, processing, and storing stem cells for future medical or therapeutic use by families.
Americord markets directly to parents who are considering cord blood banking. According to marketing automation manager Geoff Krajeski, advertising and partnering with companies in industry segments that serve budding families and new parents are important to generating leads. And managing those leads effectively is critical to making families aware of Americord’s leadership and innovation in this area. In the past, marketers were hampered by antiquated marketing software that was cumbersome to use and limited in functionality. Moreover, the software didn’t integrate readily with Salesforce.com.
After evaluating their options, Americord marketers decided to replace the old system with Marketo. Geoff says it was a smart move. The team now has an integrated engagement platform with a rich feature set that enhances nurture programs and supports lead scoring and attribution. These capabilities have shortened the time from lead acquisition to enrollment, decreased cancellations, and dramatically reduced the time spent on campaign creation.
• Improve collaboration by integrating the marketing automation system seamlessly with Salesforce.com
• Leverage multitouch attribution to better understand the ROI contribution of marketing touchpoints
• Help sales increase enrollments through better visibility into demographics and behavior
Marketo offers many advantages over Americord’s previous marketing software. For example, in the past, it took days for marketers to create and execute even simple batch-and-blast email campaigns. Now, with Marketo cloning and tokens, marketers spin up new campaigns in 30 minutes or less.
"Marketers can clone a previous campaign, add new content, and update the tokens—all from a single point and without having to touch the assets and collateral,” Geoff explains. “Marketo also allows us to take advantage of our naming conventions to clone one program and then augment it with assets from another program. The efficiencies we’re achieving translate into a nearly 90% reduction in the time spent building new campaigns"
Contact the hottest leads at the best time
With Marketo, Americord has incorporated lead scoring into its nurture programs. Scoring allows marketers to use demographic data—for example, the trimester the mom-to-be is in—along with online behavior to create models that help salespeople gauge a prospect’s level of interest. So sales reps can focus on those prospects most worth pursuing at any given time. The result is greater sales productivity and higher return on investment (ROI) in lead generation activities.
"We’ve been able to achieve an 11% decrease in the time from the acquisition of a lead to when the prospect enrolls with us,” Geoff notes. “We’ve also seen a 22% reduction in cancellations year over year.”
Understand the contribution of multiple touchpoints
It’s important that marketing be able to understand and demonstrate the contribution of individual touchpoints in moving a lead from initial acquisition to enrollment. Marketo’s attribution capability pays off substantially in this area. The marketing team interacts with prospects multiple times and in multiple ways—for example, triggered email based on the week of pregnancy and batch emails that are dropped on a quarterly basis. With Marketo, marketers can evaluate the role that each touchpoint played in conversion.
"We’re now able to say, ‘Yes, this person was a call in, but we can also show that marketing touched her at multiple points and influenced the sale at specific touchpoints,’” Geoff says. “What’s even better is that we can demonstrate to senior management that nearly a third of the company’s revenue was influenced by marketing activities.”
Geoff concludes that the addition of Marketo has been a huge win for marketing. As a result of the successes the team has achieved, senior management has allocated and additional 30% in funding so that marketers can accelerate the pace of their marketing programs and efforts.