Joe Payne, CEO, Eloqua – Executive Interview Series
We recently had the opportunity to sit down with Joe Payne, CEO of Eloqua, a leading marketing automation vendor. Here, Joe discusses how advances in marketing technology have resulted in the need for a new breed of marketing talent, and how he plans to make Eloqua the first company of it's kind to go public.
Joe Payne, CEO, Eloqua
- Experiencing success with marketing automation involves three things: people, process, and technology. You have to start out by finding the best people for the job. Then, you have to train them to think analytically, learn the process, and apply that to the existing marketing world. Once that is accomplished, they can effectively use the technology to execute their job and experience success.
- New technology means a new way of thinking. The talent pool for marketing needs to broaden to include true analytical thinkers who understand process. However, the need for creative minds and great ideas is still very strong. When you combine great technology and process with vibrant creativity and ideas, you get winning markets.
- Revenue Performance Management is a new area of software that enables marketers to take more responsibility for driving revenue. RPM introduces a deeper level of analytics so that marketing can point to their specific contribution to overall revenue. Seeing what has worked in the past then enables them to make decisions moving forward that will help drive even more revenue.
- Marketing automation is a big sandbox that everyone wants to play in. The market is 5% penetrated today, but it is only a matter of time. Big vendors are coming into the space, such as IBM with their recent purchase of Unica. Other big names such as Oracle and Microsoft are also interested in taking a chunk of this growing large market. It's a hot market and everyone wants a piece.