A highly respected, global leader in commercial intelligence for the energy, metals and mining industries, Wood Mackenzie provides businesses with an objective analysis and exclusive data enabling customers to make decisions and address challenges with confidence. Customers can gain insight on forecasting and valuing within a specific market with consulting services or in-depth reports.
As a trusted advisor the team holds the education of the market in the highest regard. The market looks to them, customer or not, to understand the Wood Mackenzie point of view, and a team of 150+ marketeers work daily to maintain the integrity of the brand and an ongoing conversation in market.
Educating the Market
Education is often important in sales, but for Wood Mackenzie it is central to their marketing efforts. In selling intelligence and consulting, the pre-sale conversation is invaluable, and with Pardot the team is able to understand where and when there is interest in Wood Mackenzie’s services. This aides the continuous search for new markets and expansion in current regions. Through forms and landing pages, the team is able to gather a database of interest and begin the conversations that could one day result in a new full time customer.
Understanding the Buyer
Cultivating interest is just the first step. The team wanted to understand their buyers beyond just their interaction with an email or gathering information from a form. They knew that not everyone who showed interest in a report or a piece of content would be a perfect fit for the subscription or consulting services of the business. In order to grow the business they needed to identify the outliers with score and grade and nurture them early on in the buying process.
“A large part of our overall marketing strategy is uncovering why a prospect might choose to engage on one channel versus another or in one conversation versus another. We know that a portion of our audience are going to follow what some might consider the “no” route, and so our challenge is to figure out why they are they following that route and how we can get them to a yes,” said Phillip Ludgate, Director of Engagement and Automation. “Now we can use Engagement Studio to profile and segment those people into better engagement programs.”
The Wood Mackenzie team started by using drip programs, and when they rolled Engagement Studio into their existing campaigns the team was excited to expand their potential. “Never before have I seen such an engaged group of marketeers,” said Ludgate.
Numerous new actions and capabilities meant that they could truly begin to understand why some prospects were choosing not to engage, and how they could start to turn that decision into a yes. Already they have seen a 37% increase in email opens and a 58% increase in click through rates.
“Engagement Studio is allowing us to really understand where our prospects are going on the buyer’s journey, and determine what we can message to them to help them make their final decision on a subscription,” continued Ludgate. “It is empowering us to make decisions that we couldn’t previously make with drip programs.”
Finding the Best Customers
Knowledge is powerful, but, as with many large teams, enablement across all employees can be a challenge at Wood Mackenzie. With Pardot, implementation and execution was simple. Even with more than 150 marketers learning a new technology and strategy, the team was able to get up and running with Pardot quickly and easily.
Enabled with the right technology, well planned marketing campaigns, educational engagement programs, and thoughtful scoring and grading the Wood Mackenzie team has been able to easily and quickly identify the best prospects for the sales team. In fact, the Wood Mackenzie has seen a 23% increase in content consumption, which equates to more educated, qualified prospects, better conversations, and more deals, in response to the efforts of the marketing team.