Eloqua10 Debut Pushes Marketing Suite Further Into Revenue Management
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The debut of Eloqua10 at the Eloqua Experience conference earlier this week in San Francisco has caused quite a stir within the marketing automation space. The new version, which was enhanced to include new features that reflect the voice of the customer, has been a year in the works.
“We have built an application that feels like a desktop application, but it’s on the Internet and in a browser,” said Eloqua CEO Joe Payne. Payne emphasized the enhanced features, including easy-to-use rendering tools and its focus on giving users more stability and reliability, presented in a UI. Eloqua10 has been in live beta for several quarters.
Payne described Eloqua10 as a “Revenue Performance Management” product designed to provide a single view of the entire sales pipeline — from unknown “suspects” right through closed business.
The product includes a revenue analytics and reporting engine designed to help users predict how marketing and sales decisions will drive future revenue. Marketing organizations can analyze and quantify sales and marketing results through intuitive, interactive dashboards and reports.
As part of an exclusive interview with DemandGen Report, Payne discussed the GAAP principle for marketing, where marketers are encouraged to apply standards for campaign metrics. “If everyone starts to measure campaigns the same way, then you can start to see trends across various industries and companies,” he said. “Then you can develop benchmarks to help organizations figure out where they can do better.
While 2010 has seen substantial growth among marketing automation adoption, and for Eloqua in particular, Payne expects the company to grow from $51 million in revenue to $68 million in the next year. “We see large companies, that are typically slow adopters to the technology, coming to the table,” he said. “[Companies] are taking a broad look at how they do marketing and saying they need to change the way they do it.”
As part of its conference kickoff, Eloqua also published a benchmark report for marketers with data-driven benchmarks against which to compare their marketing automation, email marketing and lead generation efforts.
Eloqua collected 10,000 months of aggregate campaign data from more than 700 BtoB and BtoC companies across several industries. Authors then incorporated best practices counsel throughout the report to help readers achieve best-in-class performance and drive revenue growth for their businesses.
The report also builds on market growth, how marketers are leveraging lead scoring and that campaign sizes are decreasing. “Campaigns sizes are getting smaller and we think that’s really good,” Payne said. “That means marketers are targeting more selectively their products and services. We think it’s great for customers and email consumers.”
For more on the report’s findings, click here to download to full report.