FinancialForce delivers the No. 1 professional services automation (PSA) and the only customer-centric enterprise resource planning (ERP) tool. FinancialForce accelerates business value with comprehensive best practices and the most intelligent analytics—all on the leading business cloud platform from Salesforce.
Founded in 2009 and headquartered in San Francisco, FinancialForce is backed by Advent International, Salesforce Ventures, and Technology Crossover Ventures.
The world of marketing is all about trial and error, and A/B testing lies at the heart of it. Marketers constantly ask themselves the question: What content or combination of messages will entice a new prospect to fill out a form or progress to the next stage in the sales cycle?
The marketing team at FinancialForce is no different. This team of marketing operations and revenue marketing professionals are responsible for bringing leads into the sales funnel, qualifying them, and nurturing prospects who aren’t quite ready to buy.
While the team is small in size, the mandate to drive quality leads and get them to the sales team at the right time is big. So the team uses a combination of technologies, including Marketo, Salesforce, and Vidyard to streamline processes, track and score responses, and drive marketing campaigns with maximum efficiency.
Over the last few years, video has become an increasingly important medium for FinancialForce. The organization’s video content includes webinars, recorded webinars, customer testimonials, and product tours. Visitors to the company’s website are invited from the home page to watch product demos. These short product vignettes have become one of the most important tools in the FinancialForce marketing team’s arsenal.
“By far our most popular assets are the two-minute tours. They are easy for prospects to digest and access because we only require a small amount of information in our Marketo form. They introduce different aspects of our product and showcase its capabilities, such as financial management or service management,” says Michaleen Craig, Digital Analyst and Front End Developer for FinancialForce. “Then, because we have Marketo running in the background, a prospect is free to rewatch that video without re-registering.”
Prior to adopting Vidyard’s video management platform, the FinancialForce marketing team used an in-house developed script on their website that allowed a visitor to un-gate a video asset and, then via a cookie, rewatch it as many times as they wanted. “It was a duct-taped, homegrown solution,” admits Michaleen.
While the video appeared on the FinancialForce website, the content was externally housed on Vimeo and YouTube. So the marketing team was unable to tie a contact to the view, see how much of the video a prospect actually watched, or advance that prospect to the next stage with a call to action. It was also impossible for the team to track the performance of a video asset across separate marketing channels, for instance, if it was used in a direct email campaign pushed out by the revenue marketing team.
“Vidyard’s support team is just phenomenal. They are always going the extra mile for us and are super responsive.”Michaleen Craig
Digital Analyst and Front End Developer
With video playing an increasingly important role in their lead generation efforts, it was time for FinancialForce’s team to add a more sophisticated video management system into their marketing stack.
“We were pulled into a meeting with our revenue marketing team who wanted to be smarter with video. I had used the platform with a previous company, so was familiar with its core features. It became a question of: ‘Can the platform get through security?’ ‘What’s the plan for bringing all of our videos into the platform?’ ‘Can it be implemented in a timely fashion?’” said Bobby Burns, Marketing Operations Manager at FinancialForce.
Those key questions were promptly addressed by Vidyard, who demonstrated a slick integration with Marketo and Salesforce and provided FinancialForce with what the team calls ‘white glove’ service and support.
“They stepped up and migrated hundreds of videos over from Vimeo and YouTube to the Vidyard platform without a hitch. It was a seamless, behind-the-scenes export and import,” says Bobby.
Michaleen adds: “Vidyard’s support team is just phenomenal. They are always going the extra mile for us and are super responsive.”
With Vidyard up and running, the FinancialForce team plunged in to familiarize themselves with the platform and get their videos organized into groupings of assets.
“We created a folder for each type of asset. Then we tied events to those assets and associated a Marketo form to those events. So, if a prospect fills out a form and that lead falls into the product tour genre, Vidyard will allow that information to pass through to Marketo, and Marketo tells Vidyard if that individual is a first time viewer or has been ID’d with a cookie,” explains Bobby.
Using Vidyard’s video ID, FinancialForce is able to systematically identify a prospect as net new, determine if the prospect is watching the video again (no form required), and can associate the video to a specific marketing channel or campaign.
Says Bobby, “This is a key piece of information for us and allows us to track the performance of a video across various uses. It also allows us to update a lead’s campaign member status in the Salesforce campaign, so our sales folks know up front if they are having a conversation with a brand new prospect or someone who is already engaged with us. On the marketing side, we have the ability to now track which videos are driving more net new conversations, which ones are driving the most views and which videos are most engaging.”
Vidyard also allows FinancialForce to track percentage views on video assets. This valuable metric is used for lead scoring and is also communicated to sales.
“We initially reveal this data via Marketo Interesting Moments, which creates a highlight for the sales rep. They can see the status of downloaded items, video views and percentage watched. It allows them to be smarter in their follow up. With this information in hand they can carve the sales conversation in the right direction,” says Bobby.
For reporting purposes, marketing also runs nightly batch campaigns for all video programs in Marketo. Each program is tied to a video, and thus calculates the watch percentage specific to that video view. The nightly batch syncs the highest video watch percentage for each viewer to its corresponding Salesforce campaign, with a member status that reflects the watch percentage categories of 100%, 75%, 50%, and 25% views. Those contacts with 100% views are not scooped up in subsequent batch runs. Because people frequently watch videos multiple times, this process ensures that a 100% watch status won’t be overwritten.
Example of Marketo Program Structure:
00.Watches Video [Activate] Smart List
00.Watches Video [Activate] Flow
01.Watched 100% [Schedule] Smart List
01.Watched 100% [Schedule] Flow
FinancialForce’s marketing team is just getting its feet wet using Vidyard’s video management platform. That said, video now drives 40% of sales conversations every week and the team conservatively estimates conversion from video content on the company’s website has increased by 2 to 3% since implementing Vidyard.
“We can now see which videos are performing best, which ones are attracting the highest percentage of views, which videos are watched most often, and which ones are watched in full. We can correlate that information with the length of videos, and we can consistently see the drop off points. For instance, we now know our product tours average an 89% completion rate and we are able to identify 96% of people who watch those videos,” says Michaleen. “This tells us what content we need more of, how to best construct that content, and what content is driving the best return on investment (ROI).”
There’s still more room to grow for FinancialForce when it comes to maximizing its use of video as a marketing tool.
“We’re planning to take advantage of the annotations feature and secondary CTAs to accelerate leads through the marketing funnel. And our revenue marketing team is looking forward to crafting new touchpoints on a program or video basis,” says Bobby.
For instance, for paid media campaigns, he explains, that FinancialForce is planning to send users to branded Vidyard sharing pages with custom offers, allowing the team to get second or third conversations with prospects, and more mileage out of the marketing dollars invested.
“We’re very excited to explore the full potential of Vidyard.”