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(DRIVE) Driving Revenue in a Volatile Economy

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Key findings from the Forrester report, entitled "Driving SMB Revenue in a Tough Economy."

Key findings from the Forrester report, entitled "Driving SMB Revenue in a Tough Economy."

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  • 1. Driving Revenue In A VolatileEconomy (DRIVE)Atri Chatterjee www.act-on.com | @ActOnSoftware
  • 2. Agenda• About this study• Key Findings• Recommendations www.act-on.com | @ActOnSoftware
  • 3. Basics of the StudyWHAT 1,000 to 2,499• Study of small and mid-sized businesses employees 22% 50 to 249 conducted by Forrester for Act-On employees 48%• Survey completed in August and September 2012 500 to 999 employeesWHO 14%• 208 companies in North America 250 to 499 employees• B-to-B and B-to-B-to-C 16% ExecutiveWHY 1% Head of arketing 17%• Understand the effects of the economic Manager of slowdown on SMB marketing Marketing 45%• Understand how SMBs are marketing and compare them to larger companies Senior• Determine any differences between Top Individual manager in Performers & the rest contributor Marketing 37% 0% www.act-on.com | @ActOnSoftware
  • 4. Industries & Performers Computers, aeros pace, automotive, Transportation, etc. banking, insurance, • Participation from various types of etc. Other 30% industries from manufacturing to Manufacturing 40% service • Respondents across all major Business verticals Consulting, accounting, Services construction, 30% professional services, etc. Performance to Plan• Respondents reported how they performed Below or Above against revenue plans over the last 12 months at Plan, Plan, 44% 56%• Very Bottom Performers = 20%• Very Top Performers = 35% www.act-on.com | @ActOnSoftware
  • 5. Agenda• About this study• Key findings• Recommendations www.act-on.com | @ActOnSoftware
  • 6. The Tough Economy Has Impacted All SMBs,1 but Some Have Done Better Everyone has been impacted • Establishment deaths > births by 37% • 70% of respondents have cancelled or delayed any business expansion • 71% of respondents have either reduced or kept marketing expenses stagnant since the recession began Top Performers have been opportunistic while Bottom Performers have struggled Category Top Performers Bottom Performers Cut expenses during recession 33% 56% Increased investment (mktg) 27% 15% Invested over 5% of revenue in mktg 40% 25% www.act-on.com | @ActOnSoftware
  • 7. SMBs are Spread Thin and More Focused2 on Traditional versus Digital Marketing SMBs are spread too thin • Over 50% are using 13 or more marketing techniques (traditional and digital) SMBs still gravitate to traditional techniques • Top 5 tactics are traditional and hard to scale (Ex: networking, tradeshows, in-person events, print ads) SMBs lag behind enterprises in use of digital marketing • SMB use of webinars is 53%; in enterprises it is 93% • SMB use of marketing automation is 19%; in enterprises it is 45% SMBs don’t understand social marketing • Although 69% are marketing on social networks, more than 1 in 3 do not know how to measure if it is working www.act-on.com | @ActOnSoftware
  • 8. Top Performers are Using Better Techniques3 and Technologies Top Performers have made technology a key piece of their marketing and sales strategy Strategic use of technology Top Performers Bottom Performers CRM 61% 46% Marketing automation 28% 5% Top Performers are using sophisticated techniques to measure and improve results Technique Top Performers Bottom Performers Measuring lead quality & sales acceptance 32% 17% Optimally nurturing leads (1-3 months) 56% 32% Over 71% of marketing automation users are Top Performers www.act-on.com | @ActOnSoftware
  • 9. Agenda• About this study• Key Findings• Recommendations www.act-on.com | @ActOnSoftware
  • 10. 7 Habits of Top Performers1. Emphasize online versus offline strategies • Top Performers see online marketing as a game changer • Almost 3 out of 4 marketing automation users are Top Performers2. Focus on new business leads and customer lifetime value over reducing costs • Top Performers are spending more to get new customers while Bottom Performers are trying to eke out more from existing customers and their budgets3. Use digital to its fullest • Go multi-channel • Combine email, webinars, content and social www.act-on.com | @ActOnSoftware
  • 11. 7 Habits of Top Performers4. Use advanced techniques like lead nurturing • More than 50% of Top Performers nurture leads for between 1 and 3 months5. Measure the things that count • Top Performers analyze everything while 44% of Bottom Performers are not measuring anything!6. Increase collaboration between sales and marketing • Plan objectives together and measure results together www.act-on.com | @ActOnSoftware
  • 12. 7 Habits of Top Performers7. Maintain marketing budgets even during a tough economy • Almost 2 out of 3 Top Performers maintained or increased marketing budgets during the great recession “Be fearful when others are greedy. Be greedy when others are fearful.” –Warren Buffet www.act-on.com | @ActOnSoftware
  • 13. For More Information…. For more information on the Forrester Studyand the eBook on 7 Marketing Habits of Highly Effective SMBs, go to: www.act-on.com/DRIVE www.act-on.com | @ActOnSoftware