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Bet on Bingeing: Why Content Consumption is the Key to Better Conversion

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Clicks, conversions and downloads only tell part of the story about how engaged your prospects are. To truly understand sales readiness and intent, B2B marketers need to identify bingeing behavior and act promptly when it occurs. Learn how leading organizations drive engagement and deliver better qualified sales opportunities.

Published in: Marketing
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Bet on Bingeing: Why Content Consumption is the Key to Better Conversion

  1. 1. MARKETING INNOVATION SUMMIT FOR B2B presented by BET ON BINGEING: WHY CONTENT CONSUMPTION IS THE KEY TO BETTER CONVERSION Nick Edouard President & CMO
  2. 2. Hello! Nice to meet you Nick Edouard Co-Founder, President & CMO LookBookHQ •  Run Product & Engineering, Client Success, Data & Marketing •  Ex-strategy consultant (Arthur D. Little) •  British. Obviously.
  3. 3. Happy 90th Birthday Her Majesty! Queen’s 90th Birthday today!
  4. 4. LookBookHQ Mission Customers Partners We help B2B marketers cultivate more informed, sales-ready buyers faster How? By ensuring they always see the next most relevant content asset wherever and whenever they engage. >70 Enterprise & Mid-Market Customers
  5. 5. Content Marketing Automation Automating Post Click Personalized Content Journeys Information Exchange LookBookHQ Recommend LookBookHQ Target Genius Mix / Playlist Curated Playlist
  6. 6. Personalized Content Experiences Content Promotion Conversion ContentScience™
  7. 7. Our session today: 1. How are we using content today? 2. The importance of Content Bingeing 3. Results 4. The ACB of ABM
  8. 8. How are we using content today? And why is it so wrong…?
  9. 9. “Content fuels modern marketing” – and B2B prospects need a lot of it Awareness Education Consideration Purchase •  88% of B2B marketers use “content marketing” •  51% will increase their spend on content in the next year (already 28% of budget) •  10 pieces of content are consumed per persona before a purchasing decision is made Source: CMI / MarketingProfs; Google “Zero Moment of Truth”
  10. 10. Content is really an information exchange B2B Prospect B2B Marketer Content Transaction = Information Exchange Awesome White Paper Information Information Information about their problem, your space, your solution, etc. Information about them, their sales readiness, etc. (explicit & implicit)
  11. 11. No real engagement metrics Everyone looks the same! Did they engage with the content? Are they educated?
  12. 12. We’re ALL in the Attention Business
  13. 13. And attention is a gift Average # of Business Emails Received Per Day88 1,707 62 56 Average # of Banner Ads the Typical Internet User is Served Per Month Average # of meetings a typical employee attends per month Average # of “interruptions” an employee experiences per day Sources: The Radicati Group, 2014-2018 Email Statistics Report, Comscore, 7 Interruptions
  14. 14. The challenge for marketers Quality Quantity Did Bob read the content? Is he sufficiently educated to move on to the next stage? How do I get Bob’s attention 8 more times? How do I move him through all 8 content assets? Narrow engagement metrics Low CTRs and 1:1 content experiences
  15. 15. Which is why… •  60-70% of content goes unused (SiriusDecisions) •  Only 21% of B2B organizations are successful at tracking the ROI of their content marketing (CMI / MarketingProfs) •  30% of B2B marketers rating their use of content marketing as “effective” (down from 42% in 2014) (CMI / MarketingProfs) •  97% of B2B prospects recommend that marketers package content together (DemandGen Report)
  16. 16. And (most damningly) this: 94% of MQLs never close Source: SiriusDecisions Pretty sure I haven’t consumed 10 pieces of content…
  17. 17. B2B’s content use model is broken Marketers are delivering content today like Blockbuster (RIP) Vendor-Centric: •  Limit engagement •  No engagement metrics •  Not personalized •  Not convenient
  18. 18. We need a new intelligent model Buyer-Centric: •  Let them binge! •  Real engagement data •  Highly Personalized •  Super convenientMarketers need to deliver content like Netflix – programmatically
  19. 19. Content Bingeing It’s all the rage.
  20. 20. Everyone is bingeing!
  21. 21. How do you research & buy? Piecemeal You read a piece of content about X every 2 weeks Concentrated You research X in bursts of attention – 20 mins at a time A. B.
  22. 22. Do More with the Moment All visitors to LookBooks 33% consume more than 1asset 7% consume every asset
  23. 23. Content engagement is an indicator of sales readiness Source: Analysis of client data (LookBook visitors and non-LookBook visitors progress through MAP and CRM lead stages) Prospects that binge are 2.4X more likely to be sales accepted
  24. 24. Make it easy to binge on content We captured Bob’s attention & he’s ready to engage! White paper Web page Third-party report Video Give him an orchestrated sequence of related content while we’ve got him!
  25. 25. Like this – aggregated
  26. 26. Like this – sequenced
  27. 27. #C2C16   click click 0 min 3 min Whitepaper 2 min Analyst Report 5 min VideoUse Case Video Whitepaper Whitepaper Who engaged with what?
  28. 28. Sales Readiness Configuration FAST Moving Buyers Sales Readiness = High AVERAGE Moving Buyers Sales Readiness = Medium SLOW Moving Buyers Sales Readiness = Low HIGH Content Engagement MEDIUM Content Engagement LOW Content Engagement
  29. 29. Take action on the binge Sales Readiness = HIGH Sales Readiness = MEDIUM Sales Readiness = LOW
  30. 30. Treat content as a first class object CONTENT JOURNEY Email Web Social Display
  31. 31. Results Show me the money.
  32. 32. Our marketing Email sent from our MAP with clear call to action drives to… …Flow LookBookHQ content experience
  33. 33. Our marketing Evaluate in Marketo Fire Sales Alert Track FMB Cohort in SFDC
  34. 34. Delivering real business value – with fast time to value (1-2 months) Source: All results from Q1 2016 from new customers in Q4 2015 34% increase in sales opportunities & $74K in new pipeline from single LookBook content experience 300 MQLs from one campaign – unprecedented volume & quality; re-upped with LookBookHQ for 4X MRR 3X higher close rate (5% to 15%) on MQLs on first two campaigns – rolling out across all campaigns
  35. 35. Delivering real business value – improving MQL to SQL conversion rates CMO at Mid-Market Technology Company •  Single action content downloads: converted to SQL at <1% (well below… 0.2-0.3%) •  LookBook Bingers: converted to SQL at 6% •  When accelerated nurture on LookBook Bingers: converted to SQL at 12-15% “Today our marketing and our triggers are based on individual discrete actions – clicks, form fills, etc. LookBooks fundamentally change that – they allow us to look at intensity and engagement across a sequenced content journey holistically”
  36. 36. Cetera – X2 marketing’s impact on revenue 2x #1 Prospects That Binge Are 2.4X More Likely to Be Accepted by Sales Increase in Marketing Sourced Revenue Source of Qualified Leads Back-to-Back Markies
  37. 37. Demandbase – use of LookBooks Use  suppor.ng  short  form  assets  to  drive  faster  moving   buyer  through  journey   Bubble  up  fast  moving  buyers  to  sales  for  real-­‐.me   follow  up,  in-­‐the-­‐moment   Promote  long  form  assets  via  binge  consump.on  and   prescribed  buyers’  journey  
  38. 38. The buyer’s nurtured journey
  39. 39. The impact of content journeys Engagement Deal Velocity Pipeline Influence ACV +300% +50% +300% +13% Average time engaging with collateral in LookBook journey vs. time consuming messaging on our website (single journey comparison) Period over period comparison – before using LookBook journeys and after (Q215-Q315 vs. Q415-Q116) Period over period comparison – before using LookBook journeys and after (Q215-Q315 vs. Q415-Q116) Difference in ACV for deals influenced by LookBook journey vs NOT influenced during a single period (Q215-Q116)
  40. 40. The ACB of ABM Account Content Bingeing
  41. 41. ABM Leadership Alliance: ABM takes a village •  ABM is an approach & philosophy, not a single piece of tech •  It affects your entire tech stack – hence the Alliance •  Content engagement remains key – as at prospect level marketing
  42. 42. Content Engagement & ABM •  ABM at scale needs Content Marketing Automation •  We’re ABM’s “Conversion Story” •  Content Engagement Data per Account (e.g. known & anon, by content experience & assets, trend data, etc.) •  Sales Readiness Configuration by Account
  43. 43. Integration with Demandbase [WIP]
  44. 44. Key Takeaways What have we learned?
  45. 45. Key Takeaways 1.  Engaged prospects want to binge on content 2.  We need to measure real engagement – intensity not just intent 3.  Content engagement is an excellent indicator of sales readiness 4.  Content marketing automation delivers ABM at scale
  46. 46. Questions?
  47. 47. Don’t be shy, get in touch Nick Edouard, LookBookHQ nick@lookbookhq.com / 647-241-2407 / @nickedouard Stop by our booth today! www. lookbookhq.com Come find us at: Ø  Oracle’s MME Ø  Marketo Summit Ø  SiriusDecisions Summit

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