Software Business Key Marketing Technologies

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Learn how to leverage best-in-class marketing technologies to drive revenue.

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Software Business Key Marketing Technologies

  1. 1. 0 eDynamic, Friday, May 2, 2014 0 DigitalMarketing forB2BSoftware Companies NumberThreeinaSeries
  2. 2. 1 eDynamic, Friday, May 2, 2014 1 1 2 3 4 CUSTOMER JOURNEY AFTER-SALE DEMAND GEN AFTER-SALE ENGAGEMENT SUPPORT
  3. 3. 2 eDynamic, Friday, May 2, 2014 TheCustomerLifeCycle Thecustomerlifecycleletsusthinkaboutaperson’srelationshipwitha companythroughtheireyes,astheypursuetheirvariousjourneys 1 2 3 4 6 Awareness Search Evaluate Commit Value 5 Advocate Thecustomer recognizesa needand looksfora solution  Hasaproblem tosolve  Goestoa tradeshow  Readsanarticle Thecustomer looksfora solutionto satisfytheir needs  Searches Googlefor solutions  Visitsastore  Accumulates knowledgeof options Thecustomer weighsthe alternative solutions available  Researches vendors  Talkstopeers  Engagesa discussion forum Thecustomer commercially commitsto thesolution andvendor  Compares pricing  Talksto references  Commitstothe vendor Thecustomer realizesthe valuethe vendor provides  Valueisrealized  Differentiation isappreciated Thecustomer communicates thevalueto theirindustry peers  Talkstopeers  Engagesina discussion forum  Further commitstothe brand CustomerRetentionJourney RetentionAcquisition
  4. 4. 3 eDynamic, Friday, May 2, 2014 TheCustomerLifeCycle Thecustomerlifecycleletsusthinkaboutaperson’srelationshipwitha companythroughtheireyes,astheypursuetheirvariousjourneys 1 2 3 4 6 Awareness Search Evaluate Commit Value 5 Advocate Thecustomer recognizesa needand looksfora solution  Hasaproblem tosolve  Goestoa tradeshow  Readsanarticle Thecustomer looksfora solutionto satisfytheir needs  Searches Googlefor solutions  Visitsastore  Accumulates knowledgeof options Thecustomer weighsthe alternative solutions available  Researches vendors  Talkstopeers  Engagesa discussion forum Thecustomer commercially commitsto thesolution andvendor  Compares pricing  Talksto references  Commitstothe vendor Thecustomer realizesthe valuethe vendor provides  Valueisrealized  Differentiation isappreciated Thecustomer communicates thevalueto theirindustry peers  Talkstopeers  Engagesina discussion forum  Further commitstothe brand RetentionAcquisition CustomerRetentionJourney After-sales Engagement After-sales Demand Generation Support
  5. 5. 4 eDynamic, Friday, May 2, 2014 4 1 2 3 4 CUSTOMER JOURNEY AFTER-SALE DEMAND GEN AFTER-SALE ENGAGEMENT SUPPORT
  6. 6. 5 eDynamic, Friday, May 2, 2014 6x-7x ACQUIRING A NEW CUSTOMER COSTS 6X-7X MORE THAN RETAINING AN EXISTING ONE.
  7. 7. 6 eDynamic, Friday, May 2, 2014 They purchased the product They are realizing the value of the product They are ready to advocate the product They would invest more deeply in to the brand After-salesDG: WhenDoesItStart?
  8. 8. 7 eDynamic, Friday, May 2, 2014 Goals: Upsell,cross-sellor havethecustomerextendthe contract Traditionalactivities: 1. Regularonsitevisitsby theaccountmanager 2. Regularoutboundcalls fromcustomerservice OurSalesTeam After-salesDG: TraditionalApproach SalesPerson CustomerService andSupport
  9. 9. 8 eDynamic, Friday, May 2, 2014 After-salesDG: UnderstandYourCustomer  Identify emerging needs  Look discussions on social networks or your own private community to information where your customer is heading and what they are wanting to buy next WhatitDoes  Align customer needs and interests with upcoming releases of modules and products— keep them interested ThingstoRemember
  10. 10. 9 eDynamic, Friday, May 2, 2014 After-salesDG: NurturingContinues  Nurturing continues— you need to move them through the acquisition journey to an upsell or cross-sell commitment  You leverage the same tools you used initially WhatitDoes  Different messages— they are now customers—they now your company better  They are still interested in WIFM (What’s in it for me)—it still is about creating value  This is an ongoing activity as your firm releases new modules and other products ThingstoRemember
  11. 11. 10 eDynamic, Friday, May 2, 2014 1. Understandwhatyour customerswantnext—lookfor insightintheirconversations withothercustomerson socialnetworksandyourown community 2. Shapethemessagingbased ontheemergingneeds— segmentyourcustomerslike youdidprospects 3. Leveragethesametoolsyou didduringtheinitialcustomer acquisitionactivities—cross- channelcontentmarketing After-salesDG: KeyTakeaways
  12. 12. 11 eDynamic, Friday, May 2, 2014 11 1 2 3 4 CUSTOMER JOURNEY AFTER-SALE DEMAND GEN AFTER-SALE ENGAGEMENT SUPPORT
  13. 13. 12 eDynamic, Friday, May 2, 2014 94% eConsultancy, 2013 94% OF DIGITAL MARKETING PROFESSIONALS SURVEYED AGREED THAT PERSONALIZATION IS “CRITICAL TO CURRENT AND FUTURE SUCCESS.
  14. 14. 13 eDynamic, Friday, May 2, 2014 “…roughly70%ofSaaScompanies intheirsurveyhadannualchurnin the<10%range,with75%ofthose at5%orunder.” 2011PacificCrestPrivateSaaSCompanySurvey SaaSChurn: WhereistheIndustry?
  15. 15. 14 eDynamic, Friday, May 2, 2014 Churncansignificantly impactgrowth—itisonethe largestfactorsinthesuccess ofsubscriptionsoftware SaaSChurn: HowtheNumbersImpact You For Entrepreneurs, David Skok, May 2012 Expansionbookings canoffsetchurnwith upsellandcrosssell
  16. 16. 15 eDynamic, Friday, May 2, 2014 After-salesEngagement: PersonalWeb  Align the experience with the customer expectations  Understand the ‘next best action’ for the customer based on analytics WhatitDoes  New tools are emerging—Lattice- Engines, Insightera and others that are looking at personalization holistically ThingstoRemember Newpersonalization platformsoffera cross-channel approach Bigdataprovidesthe backingfor‘predictive’ capabilities Dataisconsumed frommanysystems andservices
  17. 17. 16 eDynamic, Friday, May 2, 2014 After-salesEngagement: PersonalEmail  Align with the customer interests—use that as opportunity to upsell or cross-sell  Customer communities can identify what is ‘hot’ and where you spend your time selling  Website engagement can provide insight into the customer needs WhatitDoes  Ease into personalization, start with the simple things  Move to anticipating what the customer needs and wants ThingstoRemember Driveoffersthat addvalueand addressneeds Startwiththe simplestuff, movetodeeper personalization
  18. 18. 17 eDynamic, Friday, May 2, 2014 After-salesEngagement: SocialEngagement  Gets your messaging where your customers spend there time  Drives people to back to your website—the resource center or customer portal WhatitDoes  Look at analytics data to understand where your social network audiences are— HootSuite, SproutSocial and others ThingstoRemember WhetherFacebook,LinkedIn orothers,alignwithyour customerspreferences
  19. 19. 18 eDynamic, Friday, May 2, 2014 After-salesEngagement: Communities Startwith search Thecommunity willconfirmyour products Registrationhas itsprivileges Providea gatewaytoother resources  Enables your customers to ‘sell’ for you  Builds confidence in your products  Follow the discussions— understand what is important to prospects WhatitDoes  If you have customers, you have a community  Communities need a strategy and leadership  A community can drive registration and deeper engagement with your brand  Incent and cultivate champions—it is a lower cost of sale for you ThingstoRemember Showrealpeople aspartofyour community
  20. 20. 19 eDynamic, Friday, May 2, 2014 1. Understandthe customerneedsand concernsthroughcross- channelanalytics 2. Shapethemessaging withyourcustomer understanding—makeit personal—youshouldsee patternsofneedsand concernsemerge 3. Deliveryourmessaging acrosschannels— understandhowyour customerprefersto consumeinformation 4. Wewanttokeeppeople engagewiththebrand,as muchastheproduct—we wanttoreducechurn After-salesEngagement: KeyTakeaways
  21. 21. 20 eDynamic, Friday, May 2, 2014 20 1 2 3 4 CUSTOMER JOURNEY AFTER-SALE DEMAND GEN AFTER-SALE ENGAGEMENT SUPPORT
  22. 22. 21 eDynamic, Friday, May 2, 2014 10x LOYAL CUSTOMERS ARE WORTH 10 TIMES AS MUCH AS THEIR FIRST PURCHASE (FOR SAAS VENDORS THIS IS DEFINITELY HIGHER)
  23. 23. 22 eDynamic, Friday, May 2, 2014 PresalesEngagement: SupportCenter Startwith search Arealperson isaclickaway Showoffyour support capabilities Showyourofferings, letthemseewhat customersget Makeitobvious forpeopletofind whattheyneed  This provides insight into the after sales experience  Self-service interaction, no need to call or wait  Opportunity to personalize the experience WhatitDoes  Search can make or break the experience  Most people will be searching for support around a product  Make it easy for them reach out to a person ThingstoRemember
  24. 24. 23 eDynamic, Friday, May 2, 2014 1. Supportisamakeor breakexperiencefor people 2. Thesupportdigital supportexperiencecan affectpeopleasmuchas thepersononthe phone—frustrationoften startsontheweb 3. Looktoasuperiordigital supportexperienceto reducechurnandkeep customershappy SalesFacilitation: KeyTakeaways
  25. 25. 24 eDynamic, Friday, May 2, 2014 Connectwithus 1-877-339-6264 www.edynamic.net contact@edynamic.net twitter.com/edynamic youtube.com/1999dynamic facebook.com/edynamic.net

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