Ask the B2B Expert: Meagen Eisenberg on Using Data to Enhance Buyer Journeys
April 22, 2015
A truly transformational marketing leader with experience at global businesses ranging from start-ups to mid-market to Fortune 500 companies, Meagen Eisenberg is an expert at managing customer acquisition to adoption and advocacy. She was recently named CMO of MongoDB, a next-generation database that helps businesses transform their industries by harnessing the power of data. A high-profile marketing executive, especially in demand generation circles, Eisenberg was previously VP-customer acquisition and marketing at DocuSign.
How does Meagen Eisenberg think about using data to enhance the buyer journey? Read on for her insights on leveraging technology and segmentation to improve the marketer-prospect relationship.
You can find the full interview, along with fresh tactics on how to engage prospects and drive higher quality leads with a full funnel marketing approach in The Sophisticated Marketer’s Crash Course in Full Funnel Marketing.
LinkedIn: How should marketers be adjusting to changes in the buyer’s journey?
Eisenberg: We all know the story around how buyers have more information when they come to us, and they are doing a lot more research. But on the other side, we as marketers also have a lot more information if we are embracing newer technologies. If we’re capturing the data and we know which data to capture, then we are learning from it and getting insights. The amount of time that it would typically take to go through the funnel should be shrinking, because not only do they know more about us — but we know more about them if we’ve done our job and have embraced the new technologies.
LinkedIn: How do you define “data,” particularly the data you have on customers and prospects?
Eisenberg: Data is information about the customer or prospect: It’s their firmographic information. Is there engagement? Is there interest in different aspects of our company (based on what parts of our website prospects are visiting). If we are talking about buyers specifically, it’s all the information about them: their interests, things that they like on Facebook, what they follow on social media, what content they consume. We can capture all of that data, and then use it to our advantage as marketers.
“We all know the story around how buyers have more information when they come to us, and they are doing a lot more research. But on the other side, we as marketers also have a lot more information if we are embracing newer technologies.”
LinkedIn: How do you believe in leveraging technology and how does segmentation fit into your marketing programs?
Eisenberg: When I was at my former company, since we were targeting a billion people, we lived and died by segmentation, and we leveraged technology. The marketing database there was Eloqua and then that platform has to be able to integrate with all these other technologies that are providing the marketing team with more information. From a segmentation standpoint, they have a ton of different technologies they’re using — things like Mintigo for customer DNA and other insights. Are they the prospects most likely to convert based on predictive data? All of these technologies are giving them information they need to segment, and then they route the prospects in these segments through nurture programs. They have about 114 nurture programs. A prospect gets routed to a particular segment based on the data they’ve collected about you. You’re segmented by your line of business, by your title, by your industry, by your size of business, where you are in our funnel, your language, and your geo.
LinkedIn: How effective is segmentation?
Eisenberg: When I was at my former company and looked at our Eloqua performance reports every month, they had on average a 42-43 percent open rate and the unsubscribe rates were 0.5 to 0.7. The open rates were quite high on average, considering they sent 65 million emails last year. It is effective, because the marketing team figured out their title and who they are, their level of seniority, their industry, their size of business and where they are on their funnel. They’re communicating exactly what they need to know and what they need to process to become a customer or not.
“We’re communicating exactly what they need to know and what they need to process to become a customer or not.”
For more thought leader interviews and tips on how to effectively improve the buyer’s journey through full funnel marketing, download The Sophisticated Marketer’s Crash Course in Full Funnel Marketing.