Case Study: Bio-Rad Laboratories The Challenge Bio-Rad Laboratories manufactures and distributes a broad range of products for the life science research and clinical diagnostic markets. Bio-Rad began the process of looking for a new Marketing Automation system in early 2012, after migrating to Salesforce.com in 2010. Bio-Rad has a distributed marketing team with field “From my research on the platforms and marketing organizations across the globe. maturity of the marketing automation Corporate marketing wanted to empower the industry, we knew Marketo could be field marketing teams to run their own local campaigns utilizing Marketing Automation and deployed without professional services. build expertise about revenue marketing in each But we wanted to transform into revenue team. They also needed to improve the results marketers, and we needed help to make and effectiveness of their marketing efforts in sure the transformation roadmap was order to support the revenue goals for each highly aligned with our existing systems, region and product line. The Solution people, and processes. As I was looking for services, I found the Pedowitz Group was knowledgeable and experienced in marketing automation and CRM.” Bio-Rad knew that in order to effectively deploy Marketing Automation, the organization needed to transform with a focus on sales and marketing – Shawnn Smark, Group Marketing Leader, alignment as well as revenue targets. Bio-Rad Bio-Rad Laboratories needed an efficient process to evaluate the strengths and potential growth areas for each field marketing team, roadmap how to improve field marketing processes and execution, and create effective, results-driven marketing campaigns in a short period of time. While looking for a partner to assist with the transformation roadmap, BioRad realized that practical expertise in a wide variety of environments with Marketing Automation, sales automation and marketing strategy was critical for their success in reaching lead, quote and revenue goals. For the first time ever, we were able to look at an existing marketing campaign and determine how many closed won opportunities resulted. – Shawnn Smark Bio-Rad engaged the Pedowitz Group to perform three global Revenue Marketing Transformation (RMT) Workshops for the North America, Europe and Asia Pacific regions. The goal of each workshop was to create a strategic action plan for improving the process and execution of marketing campaigns, and help the field marketing teams succeed in reaching their region’s revenue targets. Through this process, each field marketing team learned best practices for revenue marketing, launched their first revenue-focused marketing campaigns, and created the tools to analyze and measure the success of their campaigns effectively, while improving alignment with the sales team in each region. The Results Bio-Rad engaged the Pedowitz Group for several projects during 2012: three RMT Workshops, ongoing retainer services to support the marketing teams with campaign execution best practices training, developing the Bio-Rad revenue model, and defining the customer lifecycle. Corporate Results The Pedowitz Group worked across the Sales and Marketing organizations to define a Revenue Model to help Bio-Rad visualize their customer lifecycle and launch lead scoring across the globe to improve sales and marketing alignment. They also created a service level agreement (SLA) for lead processing and follow-up to improve sales workflow and efficiency. With the new lead scoring in place, the sales organization is able to focus their attention on the most qualified and engaged leads, and save resources by focusing on the opportunities that are likely to close in the shortest time frame. In addition, the global implementation of Marketing Automation has jumpstarted global sales automation adoption, standardized sales processes, and increased usage of Salesforce.com. Key Benefits 47% conversion rate, 6 times expectations, for the first North American campaign 17% conversion rate and 47% of new prospects generated through social channels alone in Asia Pacific Transformed marketing strategy from region and product focus to sales and revenue focus Improved marketing metrics and reporting for revenue attribution for marketing North America Results The North American Marketing team was the first group in Bio-Rad to complete the RMT process and launch a marketing campaign. The Pedowitz Group collaborated with the Bio-Rad team to develop a campaign targeted at the end-user with an effective call to action: an infographic and a poster. With the RMT process, Bio-Rad wanted to deploy new marketing tactics that were more social and shareable. Since Bio-Rad’s sales cycle is about 2 years, getting their target audience excited and engaged was the key to success. The campaign’s offer helped to accelerate sales opportunities that were languishing by showing Bio-Rad’s long history of technical innovation, to help enhance the prospect’s awareness of Bio-Rad the innovator. This offer had a 47% conversion rate for download requests, and audience engagement was six times higher than expected for the campaign. Asia Pacific Results The Asia Pacific marketing faced different challenges than the North American team. After the Pedowitz Group completed the RMT, they discovered that APAC’s overall data quality was lower than that of the North American group. Many of the contacts did not have email addresses or complete address information. Based on these findings prior to campaign launch, Bio-Rad and the Pedowitz Group completed a contact enrichment project to fill in the gaps in data and planned a marketing campaign with the goal of enhancing data quality. The multi-format campaign included emails and postcards to direct prospects to request a poster. This ongoing campaign has a conversion rate of 19%. This campaign was also launched across targeted social media channels, including Facebook, Twitter, LinkedIn and Google+. Social channels generated 17% of landing page conversions, and 47% of the new prospects. Europe Results Bio-Rad has just launched the European RMT campaigns, and are awaiting the results for this campaign launch. With the success in North America and Asia, the European team is excited to measure their successes in the new year. Lessons Learned Before getting started, be introspective about your organizations processes, strengths, and weaknesses Identify internal project champions to ensure things move ahead efficiently Improve sales and marketing alignment with joint participation from sales and marketing for campaign planning Be willing to change and adapt Next Steps Bio-Rad continues to work with the Pedowitz Group to complete the global RMT sessions in Asia and the South Pacific and is looking forward to reviewing each campaign’s successes and challenges to relay best practices to the global marketing teams. As Bio-Rad adopts revenue marketing across the globe, the organization is focused on global adoption of the Marketing Automation and CRM platforms to improve marketing and sales alignment in all of its regions. About Bio-Rad Laboratories Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) has remained at the center of scientific discovery for more than 50 years, manufacturing and distributing a broad range of products for the life science research and clinical diagnostic markets. The company is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. Founded in 1952, Bio-Rad is headquartered in Hercules, California, and serves more than 100,000 research and industry customers worldwide through its global network of operations. The company employs over 7,100 people globally and had revenues exceeding $2 billion in 2011. For more information, visit www.bio-rad.com. About The Pedowitz Group – Connecting Marketing to Revenue™ The Pedowitz Group, an Inc. 500 company, is the world’s largest full-service Revenue Marketing Agency. A two time Pacesetter winner, The Pedowitz Group helps global clients transform their marketing organizations from cost centers to revenue centers by assessing and optimizing six controls: strategy, people, process, technology, content and results. As the authority on Revenue Marketing Transformation™, the company has helped over 1,000 clients begin the journey to driving predictable, repeatable and scalable revenue results. The Pedowitz Group customers have won over 20 nationally recognized awards for their Revenue Marketing excellence. For more information on how The Pedowitz Group helps clients become successful Revenue Marketers®, visit www.pedowitzgroup.com or call us at 855-REV-MKTG or visit blog.pedowitzgroup.com.