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Driving Revenue in a Volatile Economy
 

Driving Revenue in a Volatile Economy

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    Driving Revenue in a Volatile Economy Driving Revenue in a Volatile Economy Presentation Transcript

    • Driving Revenue In A VolatileEconomy (DRIVE)Lori Wizdo, Principal Analyst, Forrester ResearchAtri Chatterjee, CMO, Act-On Software www.act-on.com | @ActOnSoftware | #ActOnSW
    • Welcome! Thanks for joining us today. Lori Wizdo Atri Chatterjee Principal Analyst, Forrester Research CMO, Act-On Software www.act-on.com | @ActOnSoftware | #ActOnSW
    • Q&A• Submit questions for the Q&A session www.act-on.com | @ActOnSoftware | #ActOnSW
    • Agenda• About this study• Key Findings• Recommendations www.act-on.com | @ActOnSoftware | #ActOnSW
    • 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 Marketing 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 Executive• Determine any differences between top Individual in Marketing performers & the rest contributor 37% 0% www.act-on.com | @ActOnSoftware | #ActOnSW
    • Industries & Performers• Participation from various types of industries from manufacturing to service• Respondents across all major verticals Computers, aerospace , automotive, etc. Transportation, banking, insurance, etc. Other 30% Manufacturing 40% Business Consulting, accounting, Services construction, professional services, etc. 30% www.act-on.com | @ActOnSoftware | #ActOnSW
    • Agenda• About this study• Key Findings• Recommendations www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMB Marketers Fielding a MightyMarketing Mix Over 50% are using 13 or more marketing techniques (traditional and digital) Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMBs Gravitate to Traditional Techniques Top 5 tactics are traditional and hard to scale Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMBs Lag Behind in Digital Techniques SMB use of webinars is 58%; in enterprises it is 93% Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMBs are Taking a “Leap of Faith” on Social Tell us about your use of the following social vehicles Facebook Page 11% 3%4% 32% 28% 21% Twitter Posts 14% 8% 4% 27% 26% 21% Although 69% are Video marketing marketing on social 23% 10% 1% 15% 33% 18% (YouTube, etc.) networks, more than 1 in LinkedIn Page 13% 8% 3% 26% 32% 17% 3 do not know how to measure if it is workingTwitter Content Offers/Invites 45% 9% 5% 13% 15% 13% Community Engagement 31% 17% 1% 10% 28% 13% (Discussion Forums and … Blogging 26% 19% 1% 12% 31% 10% Q&A sites 53% 13% 1% 11% 16% 5% Pinterest 58% 12% 4% 11% 11% 3% Not using; not planning to start Not using; but planning to start in the next 12 months Not working; will be decreasing Were using, but dont know if its working Working; will continue at present levels Working; will increase usage in the next 12 months Base: 144 IT Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMBs are not as Automated as “Enterprises” What are your firm’s plans to adopt the following software technologies to automate some of your marketing processes? – Overall Customer Relationship Management (CRM) 19% 13% 12% 16% 24% 16% CRM: (e.g. Microsoft 56% v. 75% Dynamics, Salesfor… Marketing and lead management 41% 28% 12% 5% 9% 5% automation (e.g. Act- On, Marketo, Pardot) Email marketing Marketing platform (e.g. ExactTarget, Respon 35% 17% 13% 8% 20% 6% Automation: sys) 19% v. 45% Not currently interested Interested, but no plans Actively evaluating and planning to implement within the next year Implemented, re-evaluating, have not met goals/are not happy Implemented, we have met our goals/ are happy Expanding / upgrading implementation Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMB Marketing IS Driving Pipeline Base: 208 Marketing Decision-makersSource: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • The Tough Economy Has Impacted AllSMBs, 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 Performance to Plan • Still 56% of respondents have exceeded their plan. Below or Above at Plan, Plan, The Great Recession Revealed 44% 56% a New SMB Success Profile www.act-on.com | @ActOnSoftware | #ActOnSW
    • Top Performers Invest in Marketing 44% 56% 27% Base: 208 Marketing Decision-makersSource: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • Top Performers Focus on New CustomerAcquisition Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • Online Marketing is a “Game Changer” for Top Performers “Which of the following statements most reflects your perception of online marketing?” Online marketing is an important part of 51% our marketing mix, but no more 68% important than… Online marketing is a game- 32% changer, allowing Top Performers (n=117) us to complete 20% more broadly Laggards (n=41) We dont use online 15% marketing tactics 12% Online marketing is important to the majority 2% of SME marketers. But 32% of top Other 0% performers say it’s a game-changer. Base: 208 Marketing Decision-makersSource: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • Top Performers strategically use technology What are your firm’s plans to adopt the following software technologies to automate some of your marketing processes? – Overall Customer Relationship Management (CRM) 19% 13% 12% 16% 24% 16% CRM: (e.g. Microsoft Top Performers: 61% Dynamics, Salesfor… Bottom Performers 46% Marketing and lead management 41% 28% 12% 5% 9% 5% automation (e.g. Act- On, Marketo, Pardot) Email marketing Marketing Automation: platform (e.g. 35% 17% 13% 8% 20% 6% Top Performers: 28% ExactTarget, Respon Bottom Performers: 5% sys) Not currently interested Interested, but no plans Actively evaluating and planning to implement within the next year Implemented, re-evaluating, have not met goals/are not happy Implemented, we have met our goals/ are happy Expanding / upgrading implementation Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • Use of Marketing Automation Correlates withStrong Business Performance 71% of those who are using marketing automation are above plan, versus only 53% of those who are not Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SME Marketers are serious aboutlead nurturing. You said you were using lead nurturing as a tactic, tell us a little bit about your lead nurturing tactics We use a dedicated team (e.g. inside sales, business 71% development reps) to nurture likely 73% prospects We use email and phone calls to 66% engage leads during the nurturing phase 69% 11% Total (n=143) We only use email to engage leads during the nurturing phase 12% Have Marketing Automation (n=35) We do not use any of the above 3% tactics 0% Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SME Marketers are Serious about Lead Nurturing You said you were using lead nurturing as a tactic, tell us a little bit about your lead nurturing processes 46% On average, we have more than 5 touches (email or phone call) before a lead passes to sales 44% 54% On average, we have fewer than 5 touches (email or phone call) before a lead passes to sales 56% Total (n=143) Have Marketing Automation (n=35) Base: 208 Marketing Decision-makers Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMEs with Marketing AutomationNurture Leads a Little Longer You said you were using lead nurturing as a tactic, tell us a little bit about your lead nurturing timeframes 17% Total (n=143) On average, we nurture a lead for more than 3 months before we Have Marketing pass the lead to sales 11% Automation (n=35) On average, we nurture a lead for 47% 1-3 months before we pass the lead to sales 49% On average we nurture a lead for 36% less than a month before we pass the lead to sales 40% Base: 208 Marketing Decision-makersSource: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • SMBs Who are Automated Measure More Which of the following do you measure? Customer satisfaction 48% 48% 40% Brand awareness 45% 34% Competitiveness/win ratio 43% Marketing’s contribution to revenue 33% 28% 31% Campaign payback 48% Customer acquisition costs 28% 28% 27% Lead-related metrics 40%Market engagement via social channels, networks 25% 35% Lead Funnel conversion ratios 24% 48% 21% Customer lifetime value 23% 21% Salesperson satisfaction with marketing 23% Significant differences in 16% Channel productivity 23% what companies with 10% Net promoter (ratio of promoters to detractors) 20% marketing automation Other, please specify 0% 2% can and do measure Total (n=206) Currently implemented (n=40) Source: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • Top Performers are Getting Results! Base: 208 Marketing Decision-makersSource: "SME Marketing Tactics and Metrics Survey", a commissioned study conducted by Forrester Consulting on behalf of Act-On Software, Inc., August, 2012 www.act-on.com | @ActOnSoftware | #ActOnSW
    • Agenda• About this study• Key Findings• Recommendations www.act-on.com | @ActOnSoftware | #ActOnSW
    • 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 | #ActOnSW
    • 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 | #ActOnSW
    • 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 | #ActOnSW
    • 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 | #ActOnSW