MassTLC Mobilizing your Customer Advocates, SiriusDecisions keynote presentation

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Bob Peterson, a Senior Researcher at SiriusDecisions presented on the trends in customer advocates at a MassTLC event in October 2013.

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MassTLC Mobilizing your Customer Advocates, SiriusDecisions keynote presentation

  1. 1. Sales and Marketing Roundtable: Mobilizing Your Company’s Advocates OCTOBER 10, 2013 TWEET IT OUT @MASSTLC #ADVOCATES WIFI: LOGIN - 10102013 PASSWORD - M87VEx34 ©2012 MASSTLC ALL RIGHTS RESERVED.
  2. 2. Trends in Customer Advocacy
  3. 3. Who Participated in the Study? •  100+ marketers in the U.S., Canada, EMEA, Asia-Pacific •  Data collected up to late February 2013 •  Company size: –  Half under $500 million –  10 percent $500 million to $1 billion –  40 percent more than $1 billion •  Industry mix: –  70 percent software –  10 percent hardware –  8 percent professional/information services –  4 percent healthcare and financial services –  9 percent other industries © Copyright SiriusDecisions. All Rights Protected and Reserved. 3
  4. 4. Executive Summary •  Key issues –  There’s nothing more valuable than a loyal customer who is willing to advocate on a company’s behalf –  It remains challenging for b-to-b companies to find and engage advocates in a range of traditional and social outlets –  Mindful planning and investment will help make customer advocacy and reference work play a more vital role •  What you will walk away with –  An understanding of the role of customer advocacy in b-to-b –  A view into how companies are organizing this function and what’s different about best-in-class programs –  Effective practices for finding and rewarding advocates –  A view into where companies are planning to invest next © Copyright SiriusDecisions. All Rights Protected and Reserved. 4
  5. 5. The Critical Role of Advocacy
  6. 6. It’s All About People Connecting SiriusPerspective: Approximately 75 percent of CXOs’ research is done via personal interactions and viral communication networks. Search on the Internet, 25% Access a Social Media Community, 12% Call an Industry Analyst, 20% Call an Industry Peer, 22% As my Team or AskMy Team or Colleagues For Colleagues for Options, 22% Options 22% © Copyright SiriusDecisions. All Rights Protected and Reserved. 6
  7. 7. Advocacy Support at Different Buying Stages SiriusPerspective: Referrals (as content assets) tend to be more influential at the beginning and end of the buying process. Most often selected 70% White papers 60% Peer referrals 50% Webinars 40% Email 30% User Events 20% Analyst reports 10% Case Studies 0% Early Middle Late © Copyright SiriusDecisions. All Rights Protected and Reserved. 7
  8. 8. Reference and Advocacy Resourcing
  9. 9. How Does Advocacy Investment Compare? 0.5% to 5%: Marketing Investment as % of Total Revenue Approx. 40% to 50% Field Marketing’s Share of Program and Personnel Spend Less than 10% Average Share of Program Dollars for Advocacy and References © Copyright SiriusDecisions. All Rights Protected and Reserved. 9
  10. 10. What’s the Biggest Challenge This Year? •  The Bad News –  20% say “Lengthy approval process for customer reference content” –  14% say “Buy-in and cooperation from sales” •  The Good News –  Just 3% say “Gaining executive support” –  Just 3% say “Difficulty establishing the value of our program” –  13% say “Lack of sufficient budget” 2013 Opportunity: Turning Executive Support Into Adequate Budget and Sales Cooperation © Copyright SiriusDecisions. All Rights Protected and Reserved. 10
  11. 11. Where Do References Come From Today? Three Areas That Should Be Tapped Into Immediately 1 2 3 © Copyright SiriusDecisions. All Rights Protected and Reserved. 11
  12. 12. How Much Does Sales Help Find Advocates? A critical need shouldn’t be resourced with volunteer support © Copyright SiriusDecisions. All Rights Protected and Reserved. 12
  13. 13. Advocacy Content
  14. 14. What Forms Does Advocacy Content Take Now? © Copyright SiriusDecisions. All Rights Protected and Reserved. 14
  15. 15. Advocacy Investment Plans
  16. 16. Reference Technology Investment Going up in 2013 13% getting 30% more $ 18% getting 10-30% more $ 17% getting up to 10% more $ © Copyright SiriusDecisions. All Rights Protected and Reserved. 16

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