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Engagement 2.0 New Mindset For B2 B Marketers Oms

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Adam Needles, SIlverpop presentation from the OMS Roadshow events in Portland and Seattle - discussing a new mindset that B2B marketers need to embrace. B2B marketers need focus on engaging in dialog …

Adam Needles, SIlverpop presentation from the OMS Roadshow events in Portland and Seattle - discussing a new mindset that B2B marketers need to embrace. B2B marketers need focus on engaging in dialog with prospects, focusing on nurturing leads with content and conversation until they become sales-ready leads.

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  • >>> Just intro the title …
  • I’m a B2B marketer …
  • Decade as a B2B marketerResearch + write about marketing technologyPropelling Brands blog + book [link/pic??]Recently joined SilverpopMarketing advocatePlatform evangelist
  • We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
  • We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
  • Old challenge: Be at the right tradeshows Allregs is an information provider for mortgage industry professionals. It is the official online provider of Fannie Mae and Freddie Mac underwriting guidelines. In 2006, they attended approx 25 tradeshows which was their major source of lead generation. Since they implemented Engage B2B, they now attend 10 per year. They were putting names from the tradeshow events into their database and then oversaturating their list because there was no way to segment their list. Today, Allregs uses Engage B2B as a lead gen/cross sell tool. Before it was a “shot in the dark” and now it is much more improved. Before: No automation platform; not embracing a lead management mindsetAfter: Better integration; automation platform; lead management mindsetKey capabilities utilized: Nurturing Surveys Engaging w/ prospects and customers based on where they click Using Microsoft Dynamics CRM
  • What is B2B is not even clearHow to reach B2B customers is constantly evolvingMarketing paradigm is forever re-aligned
  • What is B2B is not even clearHow to reach B2B customers is constantly evolvingMarketing paradigm is forever re-aligned
  • What is B2B is not even clearHow to reach B2B customers is constantly evolvingMarketing paradigm is forever re-aligned
  • 70% of leads aren’t waiting on you; you’re waiting on them.
  • We have to be accountable to the bottom line We have to be accountable to Sales Customers Consultative sale Significant exchange of information Relationships matter============FROM Digital Body LanguageThe sales professional“… [T]he consultative sales process is where the sales professional thrives by engaging prospects in trusted conversations and guiding the buyer’s thinking on relevant aspects of the buying decision.”ProcessBuyer educationIntake/empathy with the buyer’s pain points and challengesSales person begins to convince that the pain points and challenges are understood and solvableTools: collateral, studies, research, case studies, white papers, events, etc.Buyer then begins to evaluate solutionsSalesperson pivots from consultant to advisor to sellerSales person “… provides the buyer with the right information and the right messages in the right format at the right time.”
  • Role of marketing is changing – moving more down-stream
  • Poll - Budgets increase - Budgets decrease
  • Dialogue must be - Legitimate - Concerned
  • Dialogue must be - Legitimate - Concerned
  • Finding solutions: Customer/prospect-led marketingWorkforce Software’s software offering for time management and payroll is appealing to such a wide range of customer roles and types of companies that it became important to have leads self-qualify themselves. The client likes to use the term “mass qualification.” To accomplish this “mass qualification,” Workforce Software uses Engage B2B’s survey functionality to ask several qualifying questions at sign-up – you need to create an account on Workforce Software’s site before you can access any content. Iinitial survey questions ask about type of system currently being used, timeframe for purchase, # of employees, and title. Workforce built a scoring model based on the survey responses, including subsequent surveys. Higher leads scores are determined by amount and quality of prospect participation. In the end, incoming leads are providing valuable, self-reported information that is ultimately turning into more sale opportunities. Impossible to qualify merely based on title – payroll and employee interaction spans many different roles at different-sized corporations Previously telesales and others trying to make decisions about sales readiness based on gut or high-level demographic informationWorkForce Software requires all its prospects to sign up for a WorkForce account in order to download premium content or participate in its marketing programs, such as a Webinar. “Workforce Software offers premium content as part of our marketing programs. We believed that people seeking to consume our premium content through our marketing programs would be willing to provide us information in exchange,” said Charles Kim, direct mail manager for Workforce Software. Using Salesforce.comUsing the Engage B2B Survey module, WorkForce Software asks prospects several qualifying questions at sign-up, such as type of system currently being used and size of organization, as well as follow up questions over time as additional premium content (e.g. white papers) is requested, thereby collecting important qualification information about its leads. The fields and information are readily available to the sales team via Salesforce.com. The marketing team then developed a lead-scoring method within Engage B2B based on prospect responses to the survey questions. Leads with higher scores are routed to sales via Salesforce.com, while those with lower scores are put into an automated lead-nurturing program in which additional survey information is collected. Higher lead scores are determined by amount and quality of prospect participation. For example, a frequent website visitor that also downloaded an “ROI Kit” might pass the threshold from “cold” to “warm” lead.
  • Transcript

    • 1. Engagement 2.0: A new mindset for modern B2B marketing
      Adam B. Needles
      Director, Field Marketing Twitter: @abneedles
    • 2. Adam
      [B2B marketer]
    • 3. My background
    • 4.
    • 5. Are you a B2B marketer?
    • 6. B2B marketing is different.
    • 7. Agenda
      Challenge of modern B2B marketing
      Engagement: A new mindset
      Engagement 2.0
      Best practices
      Getting going
      B2B case vignettes + resources
    • 8. What are your objectives?
    • 9. A note …
      Customers = (both)
      Future prospects
      Current customers
    • 10. Challenge of modern B2B marketing
    • 11.
    • 12. B2B marketing in ‘ancient’ times
      Get listed in yellow pages
      Advertise in trade publications
      Attend trade shows
    • 13. Processing trade-show leads
    • 14. B2B case >>> AllRegs
      Mortgage industry data provider
      2006
      25+ tradeshows per year
      Low conversion rates
      Major source of leads
      Today
      10 tradeshows per year
      Higher conversion rates
      New lead-gen avenues (e.g., alerts)
    • 15.
    • 16. Modern B2B customer
      More-informed + more-demanding
    • 17. More-informed + more-demanding
      “With the rise of the Internet and social connectivity, there is now a more informed and demanding customer who is capable also of influencing peers' buying decisions.”
      >>> Sandy Carter, The New Language of Marketing 2.0
    • 18. Modern B2B customer
      More-informed + more-demanding
      Multi-channel
      Buying
      Communicating
      From push to pull
    • 19. From push to pull
      “No longer is the corporation the fulcrum around which customer groups and suppliers revolve. ... [T]he customer is now the pivot point.”
      >>> Paul Greenberg, CRM at the Speed of Light (3e)
    • 20. From push to pull >>> B2B redux
      >>>MarketingSherpa
    • 21. 5-6X more ‘pull’ than ‘push’ oppos
    • 22. Modern B2B customer
      More-informed + more-demanding
      Multi-channel
      Buying
      Communicating
      From push to pull
      Engage sales as a last step
    • 23. Engage sales as a last step
      Customer-led education + qualification + analysis
      Contact sales
    • 24. Implications for B2B marketing?
      Permanent power shift
      Sales / marketing line is blurring
    • 25. Meanwhile …
    • 26. Engagement: A new mindset forB2B marketing
    • 27. Engagement marketing
      Engagement = dialogue
    • 28. Engagement marketing
      Engagement marketing =
      Putting ‘engaged’ dialogue at the center of your go-to-market strategy
      Making your marketing customer-led
      More than just mere ‘targeting’
    • 29. Engagement marketing
      Targeting
      A one-way inquiry
      Engagement
      A two-way dialogue
    • 30. B2B case >>> Workforce Software
      Workforce policy and compliance management solutions
      Challenge qualifying leads based on demographics, assessing BANT
      ‘Mass qualification’ strategy
      Content-based marketing
      Use of survey forms to support scoring
      Scoring model + nurturing
      Customer self-selection
    • 31. Engagement 2.0
      Sales
      Marketing
      Customer
    • 32. Engagement 2.0 results
      Tighter sales/marketing alignment
      Higher rates of sales conversion
    • 33. B2B case >>> Brainshark
      Online presentation software
      Challenge w/ efficient lead-gen
      Outcome-focused lead management process
      Quality of leads = sales conversion rate
      Tight MQL definition
      Focus on reducing cost of sale
    • 34. Engagement 2.0 results
      Tighter sales/marketing alignment
      Higher rates of sales conversion
      Stronger customer relationship
      Increased customer lifetime value (CLV)
      Greater word-of-mouth references
    • 35. Engagement 2.0 ‘best practices’ for B2B marketing
    • 36. Best practices
      Static >>> dynamic campaigns
      Lead generation >>> lead management
      Sales antagonism >>> collaboration
      Measurement >>> scorecard
    • 37. Static >>> dynamic campaigns
    • 38. Static view of leads
    • 39. Dynamic campaigns
      Customer-led
      Cross-channel
      Iterative
      Patient
    • 40. Dynamic campaigns
    • 41. >>>Silverpop Engage B2B
    • 42. Lead gen >>> lead management
    • 43. Leads + revenue = top goals
      >>>Adam Needles, Propelling Brands (original)
    • 44. Sales Process – 10%
      Market Definition –
      20%
      52%
      Lead Generation
      Product Marketing – 2%
      Marketing Communications – 12%
      Hiring – 10%
      Leads = your greatest challenge
      52% of marketing organizations say
      lead generation is their #1 marketing challenge
      >>>SiriusDecisions
    • 45. Lead economics
      70-80% of leads = lost or ignored
      45% of leads = will buy from someone, not necessarily your company
      10% improvement in lead quality = 40% improvement in sales productivity
      1% reduction in dropped/lost leads, combined with a 1% improvement in lead-to-order conversion rate, increases annual gross profit by 136%
      >>> Annuitas Group
    • 46. Lead Generation
      Reporting &
      Analysis
      Lead Nurturing
      Lead
      Management
      Process
      Lead Qualification
      & Scoring
      Sales Collaboration
      Lead Routing
      & Acceptance
      Dynamic view of leads
    • 47. Awareness
      Marketing
      Interest + investigation
      Marketing Qualified
      Sales Accepted
      Sales Qualified
      Sales
      New Business
      Lead workflow
    • 48. Lead scoring = Lingua Franca for Engagement 2.0
    • 49. Lead scoring components
      Explicit
      BANT
      Demographics
      Implicit
      Recency
      Frequency
      Behavior
    • 50. Lead scoring example
      >>>Silverpop Engage B2B
    • 51. Lead scoring example
      >>>Silverpop Engage B2B
    • 52. Role of lead scoring
      “A solid lead scoring approach not only helps to rank prospects against one another, but can smooth the lead flow and serve as the baseline for building a range of business rules that include ownership, role and activities.”
      >>> SiriusDecisions, “What’s the Score?”
    • 53. Lead scoring = staying focused
      >>>Silverpop
    • 54. B2B case >>> Edgar Online
      Online corporate financial information
      Challenge managing leads and qualifying them
      Highly-granular lead scoring
      Based on everything lead views
      Helps with campaign evaluation
      Enables greater scale
      Quality vs. quantity of leads
    • 55. Silverpop: Lead management
    • 56. Sales antagonism >>> collaboration
    • 57. Marketing / sales divide
    • 58. Marketing / sales divide - mindset
      Marketing
      “They don’t follow up on any leads we give them”
      “A lead to them is a sale”
      “They ‘cherry-pick’ and act like they know what the leads want before calling them”
      “They don’t even look at half of the leads we give them”
      Sales
      “We have no visibility into what they are doing”
      “We need more support from them”
      “The leads they pass to us are worthless”
      “They don’t understand who our target market is”
    • 59. Marketing / sales divide - activity
    • 60. Alignment = plugged leaks
    • 61. sales is marketing’scustomer
    • 62. B2B case >>> Sant Corporation
      Sales proposal, RFP, and document automation software
      Challenge as sales really needed marketing to ‘warm up’ leads
      Catalyst for ‘engaging’ sales
      Educating about nurturing
      Building lead-qualification consensus
      Aggressively using scoring
      Building sales/marketing relationship
    • 63. Measurement >>> scorecard
    • 64. Low confidence in marketing ROI
      “Despite marketing’s drive toward financial accountability, only 7% of senior-level financial executives surveyed report being satisfied with their company’s ability to measure marketing ROI …”
      >>> Marketing Management Analytics, March 2007 release
    • 65. Danger of blanket ‘measurement’
      “Too many metrics will not help articulate the value of the marketing organization. … [I]n this digital world, so many things are measureable that it can become overwhelming. Just because something is measurable, does not mean it should be measured or that it is valuable to measure.”
      >>> Sandy Carter, The New Language of Marketing 2.0
    • 66. Marketing scorecard
      End goals
      Profitable revenue
      In-process sales goals
      Sales conversion rates
    • 67. Sales conversion rates
    • 68. Marketing scorecard
      End goals
      Profitable revenue
      In-process sales goals
      Sales conversion rates
      Lead management efficiency
    • 69. Lead management efficiency
      >>>Silverpop
    • 70. Marketing scorecard
      End goals
      Profitable revenue
      In-process sales goals
      Sales conversion rates
      Lead management efficiency
      Customer-retention goals
      Net Promoter Score
      NPD insights
    • 71. ‘Balanced’ marketing scorecard
      Functional perspectives
      Financial + non-financial metrics
      Corporate strategy mapping
      Predictive + lagging indicators
      >>> David Raab, Marketing Performance Management Toolkit
    • 72. B2B case >>> TIBCO
      SOA and BPM software
      Challenge knowing what was working / what was not
      Focus on achieving a ‘closed loop’
      Integration of platforms
      Tie in to company’s own platform
      Analytics ‘mash-up’
      Tuning of lead-generation activities
    • 73. Getting Going withEngagement 2.0
    • 74. Embrace the goal >>>
    • 75. Engagement 2.0
      Sales
      Marketing
      Customer
    • 76. Partner with sales >>>
    • 77.
    • 78. Build your infrastructure >>>
    • 79.
    • 80. Learn more >>>
    • 81. Continue the dialogue >>>
      http://www.silverpop.com/blogs/demand-generation/
    • 82. Thank you
      Phone: 617.413.6087
      E-mail: aneedles@silverpop.com
      Twitter: @abneedles
      www.silverpop.com
      Marketing Automation Solutions

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