Getting to What Matters: Driving Conversions Through B2B Personalization
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Everybody knows that personalized content drives engagement, but personalizing for every user is unrealistic and impractical for B2B companies. In this session, Robert Strohmeyer, Director of Sales Engineering at Demandbase, will discuss how B2B marketers can effectively reach their most important targets by integrating account-based marketing principles into their content strategy. Robert will discuss core principles of account-based marketing and describe how it drives personalized content creation. He’ll discuss best practices for on and offsite personalization and provide examples of companies who have driven growth with account-based marketing.
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Getting to What Matters: Driving Conversions Through B2B Personalization
- 1. @ c a r e t p i • # C M W o r l d Getting to What Matters: Driving conversions through B2B personalization Bob Strohmeyer VP, Strategic Services Demandbase
- 2. @ c a r e t p i • # C M W o r l d WHAT WE’LL COVER ① Challenges for B2B content ② Why B2B is different ③ What we talk about when we talk about relevance ④ Target accounts, not individuals ⑤ Strategies for B2B personalization ⑥ Closing the loop on conversions ⑦ Getting credit for your successes @ c a r e t p i • # C M W o r l d
- 3. @ c a r e t p i • # C M W o r l d 93% of B2B marketers use content marketing 42% of B2B marketers trust that their efforts are effective *B2B Content Marketing: 2014 Benchmarks, Budgets and Trends –CMI and MarketingProfs The Challenge
- 4. @ c a r e t p i • # C M W o r l d Why so glum? Read Ignored *SiriusDecisions
- 5. @ c a r e t p i • # C M W o r l d What’s going on with that 30%?
- 6. @ c a r e t p i • # C M W o r l d B2C analytics don’t cut it for B2B
- 7. @ c a r e t p i • # C M W o r l d 85% of website visitors are not potential customers 80% of web visitors abandon a site In < 5 seconds 97% of website visitors will ignore call to action Existing methods aren’t driving results
- 8. @ c a r e t p i • # C M W o r l d Why B2B is different Consumer • Individuals • Personas • Buy in minutes • Vast addressable market (millions) • Transactional B2B • Companies / Accounts • Influencers • Buy in months • Narrow addressable market (thousands or hundreds) • Strategic
- 9. @ c a r e t p i • # C M W o r l d In B2B, sales/marketing alignment creates a chasm SALESMARKETING Leads Personas Quantity Individuals Opportunities Buyers/Influencers Quality Accounts
- 10. @ c a r e t p i • # C M W o r l d What is your buying universe? Source: US Census Bureau U.S. Businesses: 28 million >1 Employee: 6 million $10M+: 200,000 $100M+: 20,000 $1B+: 2,000 …most B2B companies target 2,000-5,000 accounts total
- 11. @ c a r e t p i • # C M W o r l d ATTRACT ENGAGE CONVERT Marketing funnel activity is disconnected
- 12. @ c a r e t p i • # C M W o r l d Account-Based Marketing Identify the right accounts Market to those accounts Measure by accounts STEP 1 STEP 2 STEP 3
- 13. @ c a r e t p i • # C M W o r l d Does that mean I need account-based content? Top of the Funnel Mid Funnel Late Funnel Healthcare SMB 200 employees
- 14. @ c a r e t p i • # C M W o r l d Website Personalization: Engage your target accounts with relevant website experiences
- 15. @ c a r e t p i • # C M W o r l d Get quick results by personalizing text OPTIONS: Industry/Vertical1 2 Company Size 3 Company Name
- 16. @ c a r e t p i • # C M W o r l d Add images for even better engagement OPTIONS: Industry/Vertical1 2 Company Size 3 Account Status Source: Demandbase Customer case studies
- 17. @ c a r e t p i • # C M W o r l d Measure engagement the way Sales would • The account is the organizing principle, not the persona or profile. • Track site engagement among companies that meet your buying profile. • Share account engagement back to sales by rep or territory.
- 18. @ c a r e t p i • # C M W o r l d Iron Mountain Attract target accounts in key verticals HEALTHCARE BANKING & INSURANCE 28% 22% increase in visits during/after advertising campaign: Engage them with personalized content Increase in referrals from the homepage to detail pages: HEALTHCARE SMALL-MEDIUM BUSINESS 123% 115% Convert better leads with shorter forms 25% FORM CONVERSION RATE 219% INCREASE IN MQLs YoY
- 19. @ c a r e t p i • # C M W o r l d Brocade Measure and Develop Strategy 1 Personalize to Healthcare Companies 2 Shorten Forms & Increase Conversions 3 53% Reduction in bounce rate 36% Increase in video views 2x Increase in conversions 46% Increase in page views
- 20. @ c a r e t p i • # C M W o r l d DocuSign Account-Based Advertising + ABM personalization combine to move key segments closer to buying 22% Boost in Sales pipeline Increase in page views by target companies3x Longer than avg. time on site8:00 Higher than benchmark click-through rates3x
- 21. @ c a r e t p i • # C M W o r l d@ c a r e t p i • # C M W o r l d THANK YOU! Bob Strohmeyer VP, Strategic Services Demandbase
Editor's Notes
- Right now, the attempts to get the right content to the right people right time is done by pure intuition and conjecture Trying make guesses and correlate analytics on the fly Qualitative assessments
- Doesn’t make content marketers happy Not going to make your CFO happy Not going to increase the overall effectiveness of you content marketing So why is this? Bad placement on site, information architecture. Content as a means to an end
- Have you heard these common complaints? Advertising doesn’t work! The website sucks/is inefficient! All the leads are bad! Many marketers work hard defending their ability to attract, engage and convert new opportunities for the business. But no one (especially Sales) ever seems to be happy. Most of the time, marketers are missing a key strategic focus…they’re marketing to masses of individuals, looking for anyone to show interest. Using tactics that originated with consumer marketing…We like to call that mass backwards ALSO: In a recent survey of more than 1,150 B2B sales executives only 31 percent of marketing generated leads were considered suitable. -Sales Speaks: Perceptions & Ponderings on Marketing Leads, The Bridge Group and Vorsight
- Often the root cause of disconnected and siloed marketing is a lack of alignment on how the company’s two most important revenue producing teams focus their priorities…almost the language they speak Marketing = Individuals first Sales = Accounts first TRANSITION: Subconsciously, we’ve always known that accounts are the standard unit of measure in B2B, but somehow, in marketing we’ve been lured by the siren song of B2C tactics and solutions.
- B2B marketing is a clear focus on the targets that are actually most likely to be customers. When we step back and take a look at the universe of businesses (in the U.S. in particular), there are some finite boundaries we can use to more accurately target our marketing. Out of 28 million U.S. companies (according the the latest US Census data): Only 6 million have 1 or more employees…(22 million are sole proprietarships, legal entities only, or something else) – ~20% 200,000 have $10 million+ revenue per year 20,000 have $100 million+ revenue per year 2,000 have $1 billion+ revenue per year In our work with a broad range of B2B marketers, we find that their focus is usually on somewhere between 2,000-5,000 companies at the most (depending on your business, size, market, etc.), and is based more factors than just revenue… like industry, geolocation, technology usage, or something else. Taking it a step further: At a given time, you’re probably hyper-focused on an even smaller piece of the pie…trying to drive your 300-500 top target accounts that will make up the next half-year to year’s revenue. TRANSITION: With this in mind, it’s curious why anyone would ever use broad-based marketing tactics to drive awareness, engagement, and conversion with such a finite group of companies?
- You could have success initially across funnel activity… driving visitors to your website interaction with your website creating leads, Sales calling on them measuring separate programs and silos with metrics that give the appearance of success But if you’re not reaching the right accounts/prospects and connecting your relationship with them across the funnel, you are spending time, energy and money on individuals that will never buy from you To be effective – you have to be able to: Attract and build awareness with the right audience Engage that same audience with content, mostly on the website, and develop a relationship Convert the relationships you’ve built into sales interactions Measure success and tie/connect everything together across the entire funnel
- So how can you overcome these challenges and be laser-focused on the companies you can actually sell to? It’s called Account-Based Marketing or ABM, and it’s quickly becoming the primary strategy for best-in-class B2B companies. Account-Based Marketing can be done in several flavors, but is broadly characterized as targeting and marketing to specific companies or segments based on their business attributes (firmographics) like: industry, size, revenue, geography, account status, and more. 3A. ENTERPRISE There are consultants, agencies, or solution providers that would paint ABM as complex and difficult…they may have a vested interest in that way of thinking. It’s actually very simple and straightforward… And not only helps alignment, but also makes things more simple and clear cut for marketers Many large companies use the strategy to target and market to a specific set of existing customers, across marketing channels, for upsell and cross-sell 3B. MID-MARKET You can’t afford to do something complicated and involved ABM is a great way to focus effort in a specific vertical like tech, healthcare, finance, etc. Or can even include targeting businesses who use a competitive or complementary technology ABM is a very straightforward approach that can help you “hack” revenue growth and get a competitive advantage ABM Simplified: Identify – the accounts that sales values most and is most likely to close Market – attract, engage and convert those account to prime them for a sales opportunity Measure – keep Sales in the loop, and show them which accounts are progressing, which need attention…collaborate on actionable insights
- With personalized message, optimized landing pages you can create less content and ensure the content you do have is delivered to the right audiences
- Demandbase identifies the companies visiting your website in real-time and integrates with your CMS to personalize content based on your segmenting strategy. Demandbase helps you personalize website experiences by: 1. Segment - Drive industry verticals or other segments to content relevant to them 2. Account Status - Serve renewal, upsell or support content to existing customers 3. Account Personalization - Personalize to companies visiting your website by name …and many other ways that help drive engagement on your website for your target accounts. Animation: Zappos visits the website; Industry = Online Retailer; They get a personalized hero banner with relevant whitepaper. NBC visits website; Industry = Large Media; They’re funneled to customer stories/case studies of similar businesses (or competitors). Starwood visits website; Industry = Travel & Hospitality; They get industry specific research papers demonstrating capabilities. Audi visits website; Industry = Auto; They get a relevant article with info about how other industry players are using similar products.
- See NetApp sweet spot marketing case study.
- See Brocade, DocuSign, Adobe case studies.
- Iron Mountain was founded in 1951. It's a leading provider of storage and information services. We help about 150,000 companies and organizations in 36 countries around the world to help them protect their information. They looked to market to segments based on industry and company size. They had specific solutions for Healthcare, and messaged differently to SMBs vs. enterprise customers. They took the following approach with Demandbase as a key enabler of their account-based strategy: Measure - Gain greater insight into website activity of the accounts that matter most. Segment, analyze and prioritize with actionable intelligence. Attract - Eliminate marketing waste by showing ads only to accounts that matter most. Reach specific accounts with relevant messages wherever they may be on the web. Engage - Stop the one-size fits all approach. Personalize the web experience with relevant messages that are 100% tailored to your most valuable buyers. Convert - Remove fields and provide rich firmographics data across all forms. Increase conversions, drive better engagement and improve overall data quality. They saw tremendous results… Source: SiriusDecisions Summit 2014 Case Study
- Brocade is a Fortune 500 multi-national data and storage leader Wanted to drive and increase engagement to their website, specifically to the Healthcare solutions page leveraging a target/named account list of 2500 companies Measure and Develop Strategy: Before making any changes to its website, Brocade integrated Demandbase with Adobe Analytics and let the clock run for 60 days to determine how its key healthcare accounts were interacting with Brocade.com. By establishing this baseline, Brocade discovered: • 25% of healthcare visitors entered Brocade.com from the homepage; 75% entered via an ad campaign or the customer resource portal—My Brocade. This was a key finding from the pilot. • The top three destinations for healthcare visitors were the homepage, switches page, and healthcare page. • Healthcare accounts were the eighth most frequent visitors to Brocade.com. Personalize to Healthcare Companies: Once it had baseline information for how customers engage with Brocade.com, Brocade used its homepage hero and spotlight banners to guide visitors along a path with targeted healthcare content. Shorten Forms & Increase Conversions: Brocade used Demandbase to shorten its Aprimo lead form, reducing form friction and increasing conversions while adding valuable account information behind the scenes.
- DocuSign® is the leader in eSignature transaction management. DocuSign needed the ability to attract the right audience and serve visitors the content that engages them in a meaningful way. Challenges: Drive more traffic from the accounts most likely to buy Increase click-through rates to high-value, form-gated content Boost conversion percentage of those reaching forms without sacrificing important information Solution: The full Demandbase B2B Marketing Cloud Attract the right accounts and tailor their experience through the entire engagement cycle. DocuSign was able to launch company-specific digital campaigns for six industries, attracting target accounts to the website, engaging them with relevant content, and converting them to sales prospects. The Demandbase solutions included: The Result: Putting the Right Message in front of the Right Company at the Right Time DocuSign saw immediate results with the Demandbase Company-Targeted Advertising: Targeted 450+ companies with over 1M impressions delivered Attracted 59% of all companies targeted to its website Generated relevant interest with 13 average page views per company Using Demandbase to shorten forms and create a highly personalized website experience, it also: Grew the sales pipeline by 22% for its top six industries Increased average time on site by more than eight minutes Boosted page views by over 300% Decreased the bounce rate from an average of 35.29% to only 13.5% Tripled the click-through rate on DocuSign.com with industry-relevant calls-to-action