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New Benchmarks & Insights Into Lead Nurturing

New Benchmarks & Insights Into Lead Nurturing






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  • Before we go on, a quick introduction, or refresher, about Bluewolf: <br /> Bluewolf is the first global business consulting firm born in the cloud. <br /> We have 12+ years of experience helping clients around the world get closer to their customers. <br /> We are focused on helping you harness cloud, social, and mobile technologies to become more agile and customer obsessed. <br /> We are consultants CE> implementing a tool. <br /> Experience – not just one vendor agnostic <br /> 13 years – MA we where around being MA. <br /> Deepest CRM Expertise – 5000 users <br /> 2-3 years competitors – teleco <br /> Disuptibe new pricing plans – unbundling devices (undercutting price competition) <br /> Sell Value and Customer Engagement – Emotional Drivers not just…. <br /> Clearwire Spectrum…Tmobile CEO <br /> Emotional Lead Nurturing – emotinal driving customer enagement. <br />
  • You can’t really communicate if you 1. are not sending emails to them, 2.) they are not relevant 3.) They get it 8x <br /> “A quarter of your data is inaccurate in a year, if you don’t have a [data management] system in place.” <br /> If so – how do you continue to drive effective nurtire programs if your people are moving and chaning <br /> More than 50 percent of companies work with unreliable or risky data. <br />
  • Top 4 business challenges – 1 in 4 companies claim their largest business challenge is DATA – too much, poor/outdated data, duplicates <br />
  • Data cleansing will be the main factor to make or break a campaign’s or event’s success. There is good news. <br />
  • This is the new world we live in as marketers <br /> The people we are trying to reach are living across multiple channels – online & offline <br /> There are more and more messages bombarding them everyday. <br /> The average customer will be exposed to 2,904 media messages, will pay attention to 52 and will positively remember 4 <br /> Many marketers have responded by just trying to yell louder than the other guys. That won’t work. <br /> As a result, most consumers are just tuning everything out. <br /> What should we be doing? What are the New Rules for success in this world?... <br />   <br />   <br />   <br />
  • So how can we be more relevant and engaging? <br /> You can’t be relevant if you’re broad. <br /> We know batch and blast does not work – it is simply less engaging. <br /> One way is to be more targeted – smaller sends = more engaging. <br /> Engagement Score enables marketers to quickly judge how effectively each piece of content is engaging prospects and customers over time… combines open, click, unsubscribe, conversion, and so on into a single metrics. <br />
  • Since nurturing is all about relevance, it’s important to target your content based on your buyer profiles. This most often means customizing your content by industry or by buyer role. Buyer role can mean creating content based on users versus executives, or content for IT versus line of business. At Marketo, we have different nurturing content for marketing managers and sales reps, since they have different needs and interests. <br />
  • 18 triggers <br /> 11 batches <br /> 19 campaigns to manage the whole thing <br />
  • Not all segments need to be different email versions <br />
  • The key to relevance is behavioral targeting. <br /> So you want relevancy and engagement – but this requires sophisticated targeting that combines online body language (web traffic, search behavior, email response) plus transactional data plus with lifestyle and demographic data (personas) <br /> When behavioral cues are not used, email can be experienced as a dissonant interruption. What the sender considers a coordinated "drip campaign" may feel more like water torture to the receiver. <br />
  • Here’s an example of how Marketo created even more relevance. <br /> Topic of interest nurturing: Nurture tracks based on four different topics that we thought our customers were interested in (email, social marketing, marketing automation, and Microsoft Dynamics). We listen for signs that may be interested in this (events attended, web visits, keywords used etc.), and if so assign them to the specific track nurture track. <br /> If they get to the end of that specific track, we put them back to regular until they do something else specific. <br />
  • Result: Big lift! <br /> More on our blog about this: http://blog.marketo.com/blog/2013/06/topic-of-interest-based-nurturing.html <br />
  • B2B purchases entail personal risks —far more than <br /> most B2C purchases. B2B purchase stakeholders fear: <br /> ■ Losing time and eff ort if a purchase decision goes poorly <br /> ■ Losing credibility if they make a recommendation for an unsuccessful purchase <br /> ■ Losing their job if they are responsible for a failed purchase <br /> Moreover, the more personal risks a purchase entails, the more emotional buyers feel—and the more they attach to brands that can <br /> provide value and eliminate risk (Fig. 10). <br /> messages that teach the customer something <br /> unexpected and new about their own business needs and challenges that leads <br /> exclusively back to the supplier (Fig. 15 <br /> Suppliers should aim for <br /> both emotional and rational <br /> differentiation to win preference). <br />
  • Only 14% of buyers perceive enough <br /> meaningful difference between <br /> brands’ business value that they <br /> are willing to pay extra for that <br /> difference. <br /> Then they pick top 3 and it’s a race to the bottom. Who can offer the best proice? <br />
  • Until recently, many B2B suppliers have focused their customer appeals largely on the rider (reason) to the neglect of the elephant <br /> (emotion), overlooking a potential opportunity for more powerful differentiation and preference. <br /> Despite our attempts to make <br /> purely rational decisions, we are <br /> primarily driven by emotional <br /> motivations. <br /> Author Jonathan Haidt - Source: Jonathan Haidt, The Righteous Mind: Why Good People are Divided by Politics and Religion; http://en.wikipedia.org/wiki/File:Indian-Elephant-444.jpg; CEB analysis. <br />
  • Global leader in fiber cement siding, over 100 yrs old <br /> Ran a home siding campaign to their national database. <br /> When no action was taken, they were pulled into a drip campaign of 5 emails telling a customer journey of choosing/buying/installing siding <br />
  • Geo-targeting was split into 3 regions in the US and they were sent custom booklets/content based on color of siding <br />
  • To this aim, smart suppliers teach buyers about unexpected financial costs <br /> and risks of the status quo to create urgency to act <br /> communicate sentiments accurately. <br /> Cisco unearths and tests <br /> experimental messages and <br /> language in social media to <br /> optimize personal resonance <br /> of the message. <br /> To overcome the status quo, best-in-class suppliers now remind buyers of current personal difficulties or emotional needs as well as <br /> future personal gains from purchase. <br /> This can be very difficult due to customer concerns about the <br /> effort and cost—the pain—of change. These pains are very personal to customers and must be overcome to convince buyers to take action. <br />
  • Customers with strong connections to <br /> B2B brands have higher rates of consideration, purchase, and willingness to pay a premium <br /> B-to-B companies with brands that are perceived as strong generate a higher EBIT margin than others. <br /> In 2012, strong brands outperformed weak brands by 20 percent, up from 13 percent in 2011 <br /> Decision makers are willing to pay a premium for strong brands because established brands make their lives easier.  They aggregate information and reduce risk. Strong supplier brands may even aid companies in building their own reputation by association. <br /> Like consumers, professional buyers use the vendor’s reputation as a short cut that reduces risk and simplifies the evaluation process. <br /> In the US, for example, brands are seen as having an 18% share in the purchasing decision, compared to the 17 percent tied up in the sales effort. (McKinsey) <br />
  • Use the right terminology for your customers <br />
  • Content Marketing Doesn’t Make You Escape Commodotization <br />
  • By surfacing the emotions <br /> underlying customer behavior, <br /> Marketing reveals new perspectives <br /> about customers’ needs. <br /> Increase the gain or reduce the pain <br />
  • Some basic metrics. <br /> Test for what works for you! (DJ talks about this also.) <br /> But… doesn’t really tell you what’s causing engagement. <br /> If you’re like most marketers, you’re likely wading through many different email performance metrics trying to determine the impact of your content…. Email A got opened, but email B was clicked, and email C drove conversions… which is best? <br />
  • Engagement Score enables marketers to quickly judge how effectively each piece of content is engaging prospects and customers over time. This proprietary metric takes many factors into consideration, and outputs a single number that gives marketers a fast, apples-to-apples method of measuring content performance… <br /> See trend over time, how updates to program improve engagement. <br />
  • How are we measuring the success of challengers <br />
  • Measure the effectiveness of our nurture on these dimensions <br /> Include opps created slide <br />