Demand Generation & Marketing Technology

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Advances in technology have created a new B2B marketing paradigm. In this presentation, Malcolm Friedberg and Adam Needles address how to create a holistic demand generation strategy in response to changes in the B2B buying process.

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Demand Generation & Marketing Technology

  1. 1. Demand Generation + Marketing Technology© Leftbrain Marketing Inc. All Rights Reserved Twitter: @LeftBrainMktg
  2. 2. Your presenters Malcolm Friedberg Adam Needles President VP, Demand Gen Strategy •  Client experience: Dell, Intuit, Avery Dennison, McKesson, •  Client experience: E*TRADE, Motorola, Lenovo Motorola, Pitney Bowes, Target, Platinum/CA, Dell, Brady Corp., •  Marketing leadership: CMO, Lenovo, PTC, UW Credit Union Euphonix; VP Marketing, Metrocities Mortgage, Wholesale •  Marketing leadership: B2B Division Marketing Evangelist + Director, Field Marketing, Silverpop; VP Twitter: @malfried Marketing, The 451 Group Twitter: @abneedles 2 © Leftbrain Marketing Inc. All Rights Reserved
  3. 3. We Are a Demand Gen Agency§  Left Brain helps enterprise marketing organizations design and execute successful, modern demand generation programs.§  Left Brain combines: –  Process: Leverage TLBM proprietary approach –  Content: Centered around Buyer 2.0 –  Technology: Powered by marketing automation§  Left Brain delivers strategy, production (content, campaigns + tech), analytics and optimization. © Leftbrain Marketing Inc. All Rights Reserved
  4. 4. Agenda§  State of Modern Demand Generation§  Buyer 2.0 + the Modern B2B Buying Process§  Demand Generation 2.0 –  One-to-one nurturing dialogue –  Content marketing§  Marketing Technology –  The technology stack –  Bringing it into your organization © Leftbrain Marketing Inc. All Rights Reserved
  5. 5. STATE OF MODERNDEMAND GENERATION 5© Leftbrain Marketing Inc. All Rights Reserved
  6. 6. B2B demand-gen is a numbers game §  Only 2-5% of raw inquiries coming into the top of the B2B marketing and sales ‘funnel’ convert to sales. §  25-30% of B2B marketing databases have bad or incomplete records.Source: SiriusDecisions Summit 2010
  7. 7. We look to technology for a solution §  Overall US CRM adoption has grown from 53% in 2003 to 75% in 2010. (CSO Insights) §  UK enterprise CRM adoption exceeded 50% for the rst time in 2009. (UK Office for National Statistics) §  US Marketing automation adoption is 7-10%, projected to rise to 30% by 2015. (SiriusDecisions)Sources: SiriusDecisions Summit 2010; UK Office for National Statistics, “Use ofInformation and Communication Technology (ICT) and e-commerce activity by UKbusinesses”; CRM Magazine, "CRM: Then and Now"
  8. 8. Best-in-class nurturing pays off Best-in-class results: §  Double the bid-to-win ratio on nurtured leads §  Nurtured leads delivered 47% higher average order valuesSource: Aberdeen Group, "Lead Nurturing: The Secret to Successful Lead Generation"
  9. 9. We’re challenged in using technology Among adopters of marketing automation technology, “fewer than 10% of them are deploying those tools to address programs later in the buying cycle.”Source: Heuer, Email Interview re: SiriusDecisions Sea Change Data
  10. 10. Technology alone is not a solutionSource: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"
  11. 11. We can’t just ood our reps “[S]ales reps that focused on fewer, more winnable deals tend to do better. Flooding the rep with low quality/high quantity leads only increases their inefficiencies … .”Source: SiriusDecisions, “The Perfect Pipeline: When Less Is More”
  12. 12. Today’s Demand Gen Challenges…§  The traditional B2B model is broken§  Advent of Buyer 2.0§  Going from mass marketing to one-to-one§  New role of social / inbound§  Analytics + marketing’s revenue contribution§  Connecting content offers to revenue © Leftbrain Marketing Inc. All Rights Reserved
  13. 13. Discussion: Your demandgeneration environment © Leftbrain Marketing Inc. All Rights Reserved
  14. 14. BUYER 2.0 = THE MODERN B2BBUYING PROCESS© Leftbrain Marketing Inc. All Rights Reserved
  15. 15. Information consumption patternsof B2B buyers are rapidly changing. © Leftbrain Marketing Inc. All Rights Reserved
  16. 16. And power is shifting fromsellers to buyers … © Leftbrain Marketing Inc. All Rights Reserved
  17. 17. A new digital divide for nance?Source: Brett King, Bank 2.0 17
  18. 18. The B2B case … © Leftbrain Marketing Inc. All Rights Reserved
  19. 19. Inbound is more critical than ever “Currently, more than half of all new inquiries are generated through the Web; we believe that by 2015, this number will rise to nearly 75%. Inbound marketing [is not] new in theory, but ... marketers must plan for it ... .”Source: SiriusDecisions, “Inbound Marketing, the Sirius Way”
  20. 20. Turning to online sources ...Source: Enquiro, “Integrated Persuasion: Online and Offline”
  21. 21. Peer in uence is king ...Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
  22. 22. Leveraging social media ...Source: B2B Marketing/Base One, "BUYERSPHERE, Surveyof B2B Buyers Use of Social Media"
  23. 23. Buyer 2.0 listens to groundswell.Source: B2B Marketing/Base One, "BUYERSPHERE,Survey of B2B Buyers Use of Social Media"
  24. 24. Financial pros use of social media “76% of nancial professionals use social technologies at least monthly for business purposes.”Source: Forrester, “Building Successful B2B Financial ServicesSocial Marketing Programs”
  25. 25. Yet we turn more to email in B2B •  89% of B2B marketers use email. •  Email is the number-one outbound B2B marketing tactic used today.Source: Forrester Marketing Forum 2010 presentation
  26. 26. We’re sending more B2B emailSource: SiriusDecisions Summit 2010
  27. 27. Traditional email = declining results Performance of Batch/Blast Email 16.0% 14.0% 14.0% 12.0% 11.2% 10.0% 8.0% Email open rates 6.0% Average click rates 4.0% 2.9% 1.6% 2.0% 0.0% 2H 2007 2H 2009Sources: MarketingSherpa; MailerMailer 27
  28. 28. How new content consumptionpatterns are reshaping thetraditional B2B buying process … © Leftbrain Marketing Inc. All Rights Reserved
  29. 29. B2B buyer decision cycle Reconsideration Satisfaction Selection Acknowledgment Investigation Decision (To begin buying process) Measurement CriteriaSource: R. Jolles
  30. 30. Emerging buying cycle gap ... Reconsideration Satisfaction 5% Selection Acknowledgment 79% Investigation Decision (To begin buying process) Measurement CriteriaSource: R. Jolles
  31. 31. Emerging buying cycle gap ... Reconsideration Satisfaction Selection Acknowledgment 2% Investigation Decision 2-3% (To begin buying process) Measurement CriteriaSource: R. Jolles
  32. 32. Emerging buying cycle gap ... Reconsideration Satisfaction problem Selection Acknowledgment 2% Investigation Decision 2-3% (To begin buying process) Measurement CriteriaSource: R. Jolles
  33. 33. Emerging buying cycle gap ... Reconsideration Satisfaction problem Selection Acknowledgment 2% problem Investigation Decision 2-3% (To begin buying process) Measurement CriteriaSource: R. Jolles
  34. 34. Discussion: Your buyer dynamics? © Leftbrain Marketing Inc. All Rights Reserved
  35. 35. DEMAND GENERATION 2.0 35 © Leftbrain Marketing Inc. All Rights Reserved
  36. 36. What we mean bydemand generation … © Leftbrain Marketing Inc. All Rights Reserved
  37. 37. Demand Generation 2.0 Engagement Acquisition Nurturing Content marketing programs Lead management processes Technology infrastructureSource: Left Brain DGA © Leftbrain Marketing Inc. All Rights Reserved
  38. 38. One-to-one nurturing dialogue =Improved sales results © Leftbrain Marketing Inc. All Rights Reserved
  39. 39. One-to-one engagement? “Buyers have higher expectations for intimacy. … We have built intimacy into the later stages of the buying process. … But at the front end, our traditional tactics are starting to come off with all the warmth and sincerity of an English royal.”Source: Chris Koch, “Why you need to turn your customers into stalkers”
  40. 40. Nurturing = It’s about efficiency
  41. 41. Nurturing = It’s about timing definitely not ready sort-of-readySource: MarketingSherpa, "2010 E-mail Marketing: Benchmark Report"
  42. 42. Dialogue = architecture of nurturing PLAN + LISTEN TO OFFER GET TUNE NEXT PROSPECT CONTENT FEEDBACK OFFERSource: Left Brain DGA © Leftbrain Marketing Inc. All Rights Reserved
  43. 43. Dialogue = non-linear nurturing Marketing Sales Initial Human Sales Automation to Nurturing CRM Sync Contact Follow-up + CRM Email Sent Collect Buyer Initial Buyer Follow-up / Insights + Interest Content Offer Route Marketing Nurturing Web Form Scoring + Data Collection Segmentation + + Routing Marketing Automation Add. Explicit + Behavioral Data Collection More Buyer Interest + Action Inbound Marketing Outbound MarketingSource: Left Brain DGA © Leftbrain Marketing Inc. All Rights Reserved
  44. 44. Nurturing path = the dynamic campaignSource: Left Brain DGA © Leftbrain Marketing Inc. All Rights Reserved
  45. 45. Discussion: Is any of your marketingone-to-one today?Are you nurturing? © Leftbrain Marketing Inc. All Rights Reserved
  46. 46. Content Marketing =The new ‘secret sauce’ © Leftbrain Marketing Inc. All Rights Reserved
  47. 47. Content was ...
  48. 48. Relevant messaging? “86% of the unique bene ts touted by vendors were not perceived as unique or having enough impact to create preference.”Source: Tim Riesterer, "Three B2B Value-Proposition Rules That Create Preference, Not Just Parity"
  49. 49. Content is now ...§  Critical information§  Conveyed on speci c topics§  Carries the buying process forward§  Delivered via right channel / timing / voice ... aligned to speci c phases of the buying cycle. © Leftbrain Marketing Inc. All Rights Reserved
  50. 50. Catalyst for B2B buying … 72% of the time ‘ t for a speci c need at a speci c time’ is the number one reason for a B2B purchase today.Source: Forrester Marketing Forum 2010 presentation
  51. 51. Aligning content by buying stage Acknowledgment Social media Thought leadership (w/ E-mail nurturing) Traditional media Investigation Decision Detailed product literature E-mail nurturing Sales proposals Field events Search Criteria Measurement Analyst reports Analyst reports Blog + Web reviews Search SearchSource: R. Jolles Product Web sitesw/ A. Needles contributions
  52. 52. Designing content marketingSource: Left Brain DGA © Leftbrain Marketing Inc. All Rights Reserved
  53. 53. Combining nurturing + content layers PROSPs RESPs QRs SRLs Buying Cycle Content BCC BCC BCC BCC Promotional Content PC PC PC PC Drip Content DC DC DC DCSource: Left Brain DGA © Leftbrain Marketing Inc. All Rights Reserved
  54. 54. Content marketing in nancial services “Banking and nancial services have high rates of content marketing adoption (93%); however, their focus is on traditional formats, such as articles (82%). They also use social media signi cantly less often than other industries (62% adoption versus 79% average).”Source: Junta42 + MarketingProfs, “B2B Content Marketing:2010 Benchmarks, Budgets and Trends”
  55. 55. Discussion: How’s your content?Does it align to buying stages? 55 © Leftbrain Marketing Inc. All Rights Reserved
  56. 56. MARKETING TECHNOLOGY 56© Leftbrain Marketing Inc. All Rights Reserved
  57. 57. Capabilities of marketing automation CRM Marketing Batch / Blast Automation Email Single Emails Nurturing Campaigns Demographic Scoring Behavioral Scoring Form Builder Landing Page Builder Dynamic List Segmentation Dynamic Email Content High Volume Emails Web Visitor Tracking ROI ReportingSource: Left Brain DGA 57 © Leftbrain Marketing Inc. All Rights Reserved
  58. 58. Technology systems Marketing Analytics Ad/Site Tracking Social Media Activity Tracking Link Source Tracking CRM Platform Inbound Website + Blog Marketing Marketing CMS Automation OptimizationSource: Left Brain DGA 58 © Leftbrain Marketing Inc. All Rights Reserved
  59. 59. Marketing analytics? “Only 50% of marketers in our survey said they had analytics programs, and of these, few were focused on predicting behavior; most were simply reporting past behavior. Even rarer is the ability to carry those analytics all the way through to a sale.”Source: Chris Koch, “We Need an App for That”
  60. 60. True ROMI§  Inbound / outbound activity §  Nurturing program conversion rates§  Prospect acquisition –  Total rate of conversion performance –  Intermediary rates –  # Prospects / channel –  Cost / Prospect / channel §  Demand Gen program ROI –  Cost / revenue / channel –  # Prospects acquired –  # Sales Opportunities§  Content marketing –  Total value of current Sales performance Opportunities –  Revenue elasticity –  Revenue in uenced –  Offer to close time –  ROI ratios –  Cost / revenue / offer © Leftbrain Marketing Inc. All Rights Reserved
  61. 61. HOW TO BRING IT INTO YOUR ORG 61 © Leftbrain Marketing Inc. All Rights Reserved
  62. 62. People + processes + content ...Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"
  63. 63. People§  Marketing team skills requirements§  Focus on outcomes vs. activities§  Analytics-driven§  Sales team stakeholder buy-in§  Common sales/marketing lingo/ de nitions for lead stages, process§  Buyer ‘engagement’ mindset © Leftbrain Marketing Inc. All Rights Reserved
  64. 64. Process: Lead management stagesThe Left Brain Model for CLOSED-WONDemand Generation SALES NON-SOs OPPORTUNITIES SALES READY NON-SRLs LEADS QUALIFIED NON-QRs RESPONDENTS RESPONDENTS NON-RESPs PROSPECTSSource: Left Brain DGA 64 © Leftbrain Marketing Inc. All Rights Reserved
  65. 65. Takeaways§  New B2B marketing paradigm§  Holistic demand generation§  Buyer-centric§  Content becomes strategic§  Marketing + sales integration crucial§  Requires new processes, content, technology + marketing roles © Leftbrain Marketing Inc. All Rights Reserved

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