022012 Inside View Demand Gen

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  • 1. Shifting the B2BMarketing Paradigmfrom Contacts to People:4 Steps For Getting Ready Sponsored byA White Paper
  • 2. E-marketing tools and tactics have and those sales executives thatmade B2B marketers much more are using their connectionseffective at generating leads and effectively and adding value willbuilding their contact database, but the win more deals.bar continues to be raised as buying 3. Avoid social silos — Many B2Bbehavior evolves and social mediachannels become mainstream. activity of their employees for aIn order to connect with B2B buyers in social strategy. In order to realize2012, marketing has to expand beyond the full potential of a 360° viewthinking about contacts. Gathering of prospects, companies need toemail IDs may help to track behaviors develop a cohesive strategy thatsuch as white paper downloads factors in a company’s entire socialand webinar registrations, but that graph. This enables sales andapproach is missing the vital link of marketing to tap into relationshipsintegrating social intelligence into the across the organization, ratherdemand generation strategy. than solely at an individual level. By focusing on the companyTo keep pace with the new paradigm, social graph, sales and marketingindustry experts recommend B2B can tap into exponentially moreorganizations start by taking the relationships, become morefollowing steps: effective and increase conversion 1. Shift the mindset from a rates across the revenue cycle. contact to a person — Contacts 4. Reach the right people at the are simply records that get right time — B2B buying cycles passed around from marketing are much more agile than they to sales based on their activity were just a few years ago, with or lead score. Those companies budgets shifting from one line item that view prospects as people to another based on changing needs. Therefore, it is critical that intelligence around tweets, posts as companies focus on people and conversations to increase the rather than contacts. This strategy relevance of messaging. also adds deeper intelligence 2. Integrate the “people capabilities and alerts to connect approach” across the with people after a major event, organization--This new paradigm such as an acquisition, promotion is not just about marketing or relocation. Relevancy is key with changing its focus, sales also today’s buyer and delivering the needs to develop more 1-to-1 right message to the right person conversations. Buyers are turning at the right time is a great way to to social media for feedback and build relationships. answers to business challenges, 2 A DEMANDGEN REPORT WHITE PAPER 2011
  • 3. The following white paper will presentinsights from industry experts, as well as While the digital model has been acase study examples from companies big improvement over more manualthat have successfully made the switch analog methods, industry insidersfrom focusing on contacts to delivering a argue changing buyer behaviorpersonalized message to the right person and the emergence of new mediaat the right time. channels dictate both marketing and sales teams need to rethinkChanging Buyer Behavior their demand generation models.Dictates Shift FromContacts To People messaging and information at every pointThe traditional approach of demand in their buying cycle.generation had sales driving leads by Illustrating these changing rules ofplacing cold calls and marketing sending engagement, the 2010 B2B Buyerout batch and blast email campaigns Transformation Survey conducted by DemandGen Report found:industry experts point out that this Only 10% of buyers who had purchased a solution wereof the messages they receive as they contacted cold by the provider.try to manage overcrowded email and The remaining 90% reached outvoicemail inboxes. directly to the solution provider or requested to be contacted afterThis breakdown is especially problematic visiting their site.in 2012 because today’s connectedbuyers are less tolerant of unsolicited Nurturing and ongoing dialogueoutreach, and increasingly reliant on is now a necessity, as 95% ofweb research, deeper relationships and recent purchasers said the solutionfeedback from their peer networks when provider they chose providedmaking purchasing decisions. them with ample content to help navigate through each stage of theThe reality is today’s buyer is expecting buying process.to have an ongoing dialogue with solutionproviders, and they are demanding Social media is now a criticalthat companies add value with relevant part of the sales and marketing engagement model, as 59% of buyers said they engaged with peers who addressed a similar challenge before making a purchase decision, and 48% followed industry conversations on the topic they were researching via social media. 3 A DEMANDGEN REPORT WHITE PAPER 2011
  • 4. Adding SocialIntelligence To Demand In the new demand generationGeneration: Moving paradigm, B2B organizations areFrom Contacts To Social focusing on building out a 360Connections intelligence on work history,While many B2B organizations have begunto test the waters with social media, mosthave not truly made it part of their overall Another key component to buildingengagement strategy. A common scenario a personalized demand generationis that company individuals are active on strategy is connecting with prospectsLinkedIn and marketing may be trying across all relevant channels. For manysome ads on social sites, but these efforts companies that have traditionallyare often disjointed. focused on contact databases with emailNew research has shown that the failure addresses and telephone numbers, theto truly integrate social into broadermarketing and demand generation their key prospects and engaging withstrategies is a missed opportunity. them through social channels.A recent study of more than 700 According to Marketing Sherpa’s 2011 Social Marketing Benchmark Report,Interactive, found that those companiesthat have included social media as part to measure the impact of social media onof their overall strategy have seen the areas such as:following payoffs: Web site visitors (85%) 88% said social has helped grow brand awareness; Conversion rate (54%) 85% said it helps to engage in Leads generated (51%) dialogue; and Sales revenue generated (35%) 58% said in increases sales and partnerships. In addition to communicating with their target audience through socialIn the new demand generation media, smart companies also are usingparadigm, B2B organizations are tools that identify mutual connections to get warm introductions to peopleof their prospects that includes social or insights into target companies via social networks.social media conversations. 4 A DEMANDGEN REPORT WHITE PAPER 2011
  • 5. By building deeper intelligence intotheir demand generation efforts, these “B2B marketing boils down to onecompanies following the new model all-important fact: It’s all aboutare able to identify mutual connections creating relationships,” Pergolinowithin their own networks, and across said. “Today’s demand generationcompanies. With a strategic approach has created a long cycle in onlinethat incorporates social intelligence,these organizations are able to maximize sealing the deal, trust and rapportconnections between companies and are critical to the sales process.” - Maria Pergolinoprospects and move beyond individuals Senior Director of Marketingand contacts. MarketoThe New Model For Maria Pergolino, Senior Director ofMarketing: Migrating Demand Generation at Marketo, recentlyFrom Contacts To wrote about the shifting focus of demandConversions generation in a post on the company’sThe adoption of automated systems Modern B2B blog. “B2B marketing boilsand demand generation strategies down to one all-important fact: It’s allhas brought tremendous efficiencies about creating relationships,” Pergolinoand measurement capabilities to said. “Today’s demand generation has created a long cycle in online leadsome companies have fallen victim tois using these powerful systems only deal, trust and rapport are critical to thefor email purposes. sales process.”In their early quest to show results from Pergolino points out that practicesautomation platforms, marketers often such as lead nurturing and leadbecome enamored with metrics such scoring help to create a more personalas open rates and click-throughs, and approach to demand generation,subsequently treat all prospects as which is becoming critical as B2Bemail IDs, rather than individuals with sales and marketing executives realize it takes a series of conversations or “touches” across multiple channels toAs users have gained experience in move a prospect to an opportunity andmarketing automation and demand ultimately a closed deal.generation, they are realizing thatquality is more important than Rather than using high-poweredquantity. Therefore, their metrics marketing automation systems to blitzoften graduate from generating leads their contact databases with static emailand simply building up their contact campaigns, progressive companies are integrating deeper insights andand accelerating those leads into intelligence about their prospects intorelationships and real buyers. these systems. 5 A DEMANDGEN REPORT WHITE PAPER 2011
  • 6. With an integrated approach that For example, the old model called forfactors in social intelligence, progressive a sales representative to follow upcompanies are able to not only track with attendees from a webinar to seethe digital behavior of prospects on if they would like to schedule a demo.their web site, but also supplementthat with social intelligence about the would integrate social intelligence forbusiness challenges that prospects may a 360-degree view of that prospect tobe tweeting about, or who from the identify relevant connections, pain pointsprospect organization may be connected or other potential buying triggers.to their company. This deeper intelligence not only helpsThis personalized approach allows to ensure that both sales and marketingcompanies to enhance the relationships are aligned in their approach to demandthey’ve spent time building and use generation, it greatly increases thetheir marketing automation systems to likelihood that a buyer will receive themeasure and monitor connections relevant follow up they now expect.and conversations. Because timely and relevant followIn these scenarios, sales and marketing up is critical to engage today’s B2Bteams utilize the intelligence gathered buyer, this holistic approach to demandand connect the dots on the trigger generation also avoids leads gettingpoints of buyers to connect with relevant “parked” or going stale when sales repsinformation, delivered at the right time. miss out on key triggers or opportunities.By delivering the right messages to By incorporating intelligence fromprospects, these companies have been connections, as well as insights fromable to strengthen relationships with tweets and posts, sales and marketingkey stakeholders and in turn improve can key on all relevant intelligence andconversion rates. demand signals.Aligning Sales With In today’s B2B climate, prospects areMarketing In The New conducting a tremendous amount of theirDemand Model research online. According to DemandGen Report’s 2010 B2B Buyer Study:While marketing departments havebeen playing a more active role in 70% of buyers said they starteddemand generation, most sales the buying process with an onlineorganizations are still responsible for search; andgenerating between 20% and 30% of 70% said they started by visiting atheir pipeline opportunities. Therefore, vendor web site directly.it is still critical that sales organizationsengage with people instead of contacts This self-navigation and anonymousfor outbound lead generation and education has changed the role ofpipeline acceleration. salespeople, as they are now being brought into the buying cycle later and 6 A DEMANDGEN REPORT WHITE PAPER 2011
  • 7. therefore have more pressure to providevalue and insight a buyer’s unique “A key value of social media is howchallenges. Illustrating this trend, the 2011 relevant and well-informed salesDemandGen Report Buyer Study found: people are about their prospects and customers.” 41% of buyers engaged with a Greg Brush VP Sales & Customer Success sales rep after internal research InsideView was conducted on options; and 24% engaged with sales after a accounts. “Remember that trust and preferred list of vendors credibility are key to lead generation. was established. Nothing improves a sales pitch moreConversely, study also underscored than incorporating commonalities andthe opportunity for sales to differentiate shared experiences,” Pergolino said. “Bythemselves by adding value, as: leveraging the notion of relationships and credibility, you can boost your marketing 63% of buyers cited the “expertise/ efforts in ways that will generate solid helpfulness of the sales team” as a results. A connection can vouch for your key factor in the vendor selection process; and quality of your product or service.” 46% cited references from existing Industry experts point out this relationship- based approach is vital to sales as well as“Selling has always been about trust marketing. “Executives don’t need to baitand relationships,” said Greg Brush, each other with ridiculous gimmicks toVP of Sales at InsideView, a leading connect,” said Mari Anne Vanella, authorprovider of sales and marketing and CEO of Silicon Valley-based businessintelligence solutions. “A key outcome development consultancy The Vanellaof social media is how relevant and Group. They depend on relationships, andwell-informed sales people need to be those relationships convert to revenue.”about their prospects and customers.With the right tools in place, salesand marketing teams should know aprospect’s unique business challenges,business events and how they areconnected with them. This intelligenceallows them to become a trustedadvisor and build trust with prospects.”Marketo’s Pergolino added that forgingdeeper into social intelligence can helpboth sales and marketing teams buildrelationships with executives at key 7 A DEMANDGEN REPORT WHITE PAPER 2011
  • 8. CASE IN POINT: XactlyAdds Fuel To Growth “Using InsideView, our sales repsWith Targeted Demand are substantially better prepared forGeneration Tools meetings than competitors, because they understand their prospects’In looking at Concur, Xactly, Zuora unique business challenges andand some of the other fastest growing how to position our product ascompanies in the B2B sector, some solutions for those challenges.”common approaches begin to emerge: Steve DeMarco VP Worldwide Sales They are expanding their demand Xactly generation strategies beyond contacts to connect with prospects solution provider to help their marketing as people department discover connections to the right people at their target accounts, and and social intelligence for a make sure their sales team is reaching out 360-degree view of prospects with the right message at the right time. Sales and marketing teams are The company’s focus on relevance and aligned around this new integrated relationship building starts with lead demand generation model where Xactly’s lead generation team The timing of buying cycles is addressed by tracking and intelligence to engage prospects with responding to triggers and buying meaningful messages. signals across digital behavior and social activity. As a lead converts into an opportunity in Xactly’s funnel, Xactly’s reps useLet’s look at the results Xactly has InsideView to build rapport and trust withachieved through a new paradigm for their potential customer. They can followdemand generation as one example. an executive’s Twitter feed in InsideView,As a leading solution provider in the fast as well as how social media connects himgrowing incentive compensation market, or her to Xactly’s team.the sales and marketing team at Xactly “Because of InsideView, our sales reps never bombard prospects with cold-callsdatabase with contacts. In order to fuel its or email blasts,” said Steve De Marco, Vicegrowth, the company instead focused on President Worldwide Sales, Xactly. “Using InsideView, our sales reps are substantiallytargeted people. better prepared for meetings thanTo help build a 360° view of its prospects, competitors, because they understandXactly began working with InsideView their prospects’ unique businessmore than three years ago and has challenges and how to position ourexpanded its relationship with the product as solutions for those challenges.” 8 A DEMANDGEN REPORT WHITE PAPER 2011
  • 9. De Marco added that the intelligent The results from Xactly’s personalizedapproach has paid off in terms of approach to demand generation haveopportunity conversion rates where been impressive, including:Xactly’s sales reps research InsideView’s 3x Increase in Lead Volume within their pipelinebefore they communicate with alead. They use InsideView to uncover 3x Increase in Conversion ofprospects’ relevant business challenges leads into opportunitiesand position their products as solutionsto those challenges. 10% Increase in Win Rates with a higher quantity of 9 A DEMANDGEN REPORT WHITE PAPER 2011
  • 10. Preparing For The New Paradigm:4 Steps To Move From Focusing On ContactsTo Marketing To PeopleE-marketing tools and tactics have made B2B marketers much more effective atgenerating leads and building their contact database, but the bar continues to beraised as buying behavior evolves and social media channels become mainstream.To keep pace with the new paradigm, industry experts recommend B2Borganizations start by taking the following steps: 1. Shift the mindset from a contact to a person - Contacts are simply records that get passed around from marketing to sales based on their activity or lead and social intelligence around tweets, posts and conversations to increase the relevance of messaging. 2. Integrate the people approach across the organization - This new paradigm is not just about marketing changing its focus, sales also needs to develop more 1-to-1 conversations. Buyers are turning to social media for feedback and answers to business challenges, and those sales executives that are using their connections effectively and adding value will win more deals. 3. Avoid social silos of their employees for a social strategy. In order to realize the full potential of a 360-degree view of prospects, companies need to develop a cohesive strategy that factors in a company’s entire social graph. This enables sales and marketing to tap into relationships across the organizations, rather than solely at an individual level. By focusing on the company social graph, both sales and marketing can tap into exponentially more relationships, and also become more effective across the revenue cycle. 4. Reach the right people at the right time - B2B buying cycles are much more agile than they were just a few years, ago with budgets shifting from one line item to another based on changing needs. Therefore it is critical that as companies focus on people rather than contacts, they also add deeper intelligence capabilities and alerts to connect with people after a major event, such as an acquisition, promotion or relocation. Relevancy is key with today’s buyer and delivering the right message to the right person at the right time is a great way to build relationships. 10 A DEMANDGEN REPORT WHITE PAPER 2011
  • 11. Because buyers are increasingly resistant toward scripted sales pitches andboilerplate marketing messages, progressive companies are kicking off 2012 byshifting to the new paradigm of demand generation.treated as people as opposed to contacts or leads. By providing these high valueindividuals with targeted and timely content and messaging, these organizations are Campaign response rates; Conversion rates, and Opportunity win rates.By moving to a more mature demand generation model, these companies haverealized that engagement is now about connecting with people rather thancommunicating with contacts.These companies have built on the digital insights they’ve garnered from white paperdownloads and webinar registrations, and combined that with social intelligence fromtweets, blog posts and Linked connections to convert email IDs and contacts intopeople with real business issues.In a climate where investments in new business models are expected to deliver nearlyinstantaneous results, its not surprising that many companies have defaulted to“batch and blast” and “dialing for dollars” demand generation strategies.These progressive companies are realizing that these cold calling approaches bringdiminishing returns and often actually turns off prospective clients.As an alternative, progressive sales and marketing teams are kicking the cold contacthabit and instead focusing on fostering real relationships with the right people attarget accounts. 11 A DEMANDGEN REPORT WHITE PAPER 2011
  • 12. About InsideView InsideView, the leading provider of social selling and sales intelligence,San Francisco, CA 94107 increases productivity and revenue by delivering relevant business and social insights to the point of need. Our award-winning technology415.728.9300 gathers and analyzes information from the most relevant social media,www.insideview.com user-contributed and traditional/proprietary editorial sources to provide compelling insights about companies and contacts directly within your CRM, browser, or mobile device. InsideView’s products are used by more than 75,000 sales professionals, and over 1,000 market-leading companies including Adobe, AIG, BMC, Cap Gemini, Experian, and SuccessFactors. For more information, visit www.insideview.com. About DemandGen Report411 State RT 17, Suite 410 DemandGen Report is a targeted e-media publication spotlighting the strategies and solutions that help companies better align their sales and1.888.603.3626 marketing organizations, and ultimately, drive growth. A key componentwww.demandgenreport.com of our coverage focuses on the sales and marketing automation tools that enable companies to better measure and manage their multi-channel demand generation efforts. 12 A DEMANDGEN REPORT WHITE PAPER 2011