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Future of Demand 2019 & Beyond

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A look at both near and far term futures for demand generation. Covering new consumer trends, the power of contextual experiences, chabots, and much more.

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Future of Demand 2019 & Beyond

  1. 1. THE FUTURE OF DEMAND2 0 1 9 - 2 0 2 5 & B E Y O N D
  2. 2. Mathew Sweezey Principal of Marketing Insights Salesforce Author of • Marketing Automation for Dummies (2013) • Context Revolution –Harvard Business Press (2019) @msweezey YOU CAN GO AHEAD AND GET THE SLIDES BY GOOGLING @MSWEEZEY
  3. 3. The future is already here it just isn’t equally distributed. William Gibson, Author & Futurist @msweezey
  4. 4. @msweezey
  5. 5. DEMAND IS RESPONSIVE TO A NEW CONSUMER T H E N E W C O N S U M E R M A N D A T E @msweezey
  6. 6. 80% @msweezey Of customers say the experience a company provides is as important as its products and services. Source: State of the Connected Customer 2018
  7. 7. @msweezey B2B B2C Technology has made it easier than ever to take my business elsewhere 82% 70% Technology is redefining my behavior as a consumer 76% 61% Technology has significantly changed my expectations of how companies should interact with me 77% 58% Expect the brands they purchase from to respond and interact with them in real time 80% 64% B2B Buyers Are More Affected Source: State of the Connected Customer 2018
  8. 8. 12%There is only a 12% delta between the preferences of millennials and baby boomers. So if 100% of millennials do something, it’s safe to say 88% of boomers do too. Source: State of the Connected Customer 2018
  9. 9. CONTEXT BREAKS THROUGH T H E R E I S A N E W M O D U S O P E R A N D I @msweezey
  10. 10. 600+ million devices have ad-blocking on them. This is easily the largest boycott in history. @msweezey ““ Doc Searls, Author & Harvard Fellow
  11. 11. Attention: seeks to break through by stealing the consumers attention away from the task at hand. Context: seeks to break through by aligning with the consumers goal at the moment. @msweezey
  12. 12. The consumer is no longer in control…their AI is! @msweezey
  13. 13. @ m s w e e z e y @msweezey 90%+ of customer journeys begin with a Google Search. Google is one of the largest implementations of AI currently. It only serves up contextual results. Brands plan to increase their use of AI on websites by 257% in 2019 Chatbots are also taking hold adding even more AI to the moment. Email inboxes use AI to filter communications and keep spam out of your inbox. Brands also leverage AI to create bespoke emails now. Every social media feed is AI driven only showing contextual experiences. Messaging bots are now functioning as websites for many brands. Search Web Email Social THE POST AI CONSUMER
  14. 14. BY 2025 95% OF ALL CONSUMER INTERACTIONS The AI is attuned to the context of the moment, and creating the best experience for the consumer. Source: FORBES 10 Customer Experience Implementations Of Artificial Intelligence @msweezey
  15. 15. Attention seeking messages are filtered out by AI, because consumers don’t want them. Only contextual experiences are let through. Breaking through is now accomplished by creating contextual experiences. @msweezey
  16. 16. DEMAND BECOMES A FUNCTION OF EXPERIENCE @msweezey E X P E R I E N E I S T H E N E W P R O D U C T W E A R E S E L L I N G
  17. 17. The amount of want the marketplace has for your product. Typically measured by number of net new sales, or interest in your brand. @ m s w e e z e y OLD DEFINITION OF DEMAND: @msweezey
  18. 18. The amount of total revenue marketing is able to drive. It is now a measure of both net new sales, but also reduced churn, and increased LCV. @ m s w e e z e y NEW DEFINITION OF DEMAND: @msweezey
  19. 19. Source: Salesforce State of Marketing 2017 High performers were 17X more likely to be considered excellent at collaboration across the entire customer lifecycle 17X HIGH PERFORMERS COLLABORATE ACROSS THE BUSINESS BETTER AT COLLABORATING ACROSS THE BUSINESS @msweezey
  20. 20. Source: Salesforce State of Marketing 2018 High-performing marketers are 1.5x more likely than underperformers to collaborate with sales teams on ABM programs. Marketing + Sales @msweezey
  21. 21. Currently only 1/3 of marketing teams suppress messages to customers with open service issues By 2025 it is estimated that 2/3 of brands will have a fully integrated marketing and service team with common metrics, goals, and programs. Marketing + Service Source: Salesforce State of Marketing 2018 @msweezey
  22. 22. Marketing + Support opens the doors to new ideas like Trailhead. Customers who join the educational platform spend 2X as much as stay a customer 4X as long. @msweezey
  23. 23. @ m s w e e z e y When the idea of demand shifts from only considering net new, to a new idea of creating better experiences across the customer life cycle dramatically better revenue outcomes happen. Total Demand is increased. @msweezey
  24. 24. A NEW ROLE AND SCOPE NEEDS A NEW LEADER @msweezey T H E C M O I S N ” T G O I N G T O B E T H E L E A D I N T H E F U T U R E
  25. 25. “The CXO position can be imagined by rolling up a Chief Revenue Officer and Chief Customer Officer into one position. This executive should have total responsibility for developing all revenue- and profit-generating experiences offered to paying customers.” -Joe Pine & Steve Gilmore – Experience Economy (HBR 2015) @ m s w e e z e y Leading The New Marketing Team @msweezey
  26. 26. CXO’s HAVE ALREADY TAKEN OVER AT LEADING BRANDS M E D I A B 2 B R E T A I L O T H E R @msweezey
  27. 27. AUTOMATIONS GET THEIR OWN AUTOMATIONS M A R K E T I N G A U T O M A T I O N 2 . 0 T A K E S H O L D
  28. 28. Centralized Automation Takes place with in the walls of the tool. It ingests the data, hosts the automation, and executes the action.
  29. 29. The automation tool does not host the data, or the execution. Rather is only used to make connections between dispersant applications and data sets. De-Centralized Automation
  30. 30. DATA GETS BIGGER AND MORE COMPLEX M O R E D A T A N O T B I G D A T A I S Y O U R F U T U R E
  31. 31. 45DATA SOURCES BY 2025 THE FUTURE IS MORE DATA Brands plan to be using 15 data sources on average in 2019. At current growth rates it is easy to see the average brand using close to 45 data sources by 2025. Source: Salesforce State of Marketing 2018 @msweezey
  32. 32. With 15 data sources, and dozens of tools marketers will be facing an IDENTITY CRISIS. Not their own, rather keeping up with a single individual across the tools, channels, and data sets. @msweezey
  33. 33. Benchmarking Data Which tools are being used by high performers to connect their data, and at what rate is the industry adopting these technologies? Technology Current Use Planed Use Increase YoY UP AP HP CRM 62% 32% +52% 59% 61% 71% CDP 49% 39% +79% 34% 49% 62% MAP 44% 42% +95% 29% 44% 57% DMP 55% 35% +64% 46% 54% 66% @msweezey
  34. 34. Marketing Automation DMP CDP CRM Internally Focused – tracks a persons engagement with marketing assets. Website, email, social. BOTH- tracks 2nd and 3rd party data providing more color into website visitors. Connects users across browsers. Internally focused – a marketer-managed system that creates a persistent, unified customer database that is accessible to other systems. Internally Focused – keeps track of your leads, prospects, customers and manages your relationship with them. Combines data with a layer of automation to create real time direct marketing and sales programs. Used to direct advertising programs, show larger trends. No PII is shared. Used to direct marketing programs and show full customer journey. Knows the person via PII. Used to direct business operations. The person is known via PII. Only tracks known assets Tracks both known and unknown Tracks both known and unknown Can only track Known assets Defined Data types – must have email address, name, and cookie Undefined data types – able to handle unstructured data and use machine learning to connect it together Undefined data types – able to handle unstructured data and use machine learning to connect it together Defined Data types – must have email address, name, and cookie
  35. 35. ARTIFICIAL INTELEGENCE COMES STANDARD A I H A S A M A T U R I T Y C U R V E A N D W E A R E A T T H E B E G I N N I N G
  36. 36. If Data is the Oil, then AI is the refinery. “ ”@msweezey
  37. 37. HIGH PERFOMERS LEVERAGE AI MORE @msweezey Total use of AI reached 29%, a 40% increase from 2017. Still that is not evenly distributed as High Performers are 2.7X more likely to use AI. 40%YOY Growth in use of AI by all marketers
  38. 38. • One Off Tools • Large investment • Solving Big Problems • Usage Low • Add on to Existing Tools • Easily added on to existing products • Significant Returns • Used to solve tactical problems • Adopted by 30% • Baked In To All Solutions • AI fades into the background • Becomes digital assistant • Brands can’t compete with out it EARLY STAGE CURRENT STAGE FUTURE STAGE ARTIFICIAL INTELLIGENCE MATURITY PATH 2012 2019 2025
  39. 39. The marketing tools of the future will uncover issues and fix them for you. You’ll be managing the tool, but the AI will be directing you as to what to do, and where to work. @ m s w e e z e y IN THE FUTURE AI WILL ENABLE TOOLS TO WORK FOR YOU @msweezey
  40. 40. Email #4 is performing low today, it appears there is a broken link. Click YES to shift ad spend to new audience segment, expected increase 15% In The Future Bots Will Empower Marketers Elevating Issues You Didn’t Know Existed @msweezey
  41. 41. AI Improved Journey Management
  42. 42. FORMS WILL BECOME A THING OF THE PAST A N D F O R G O O D R E A S O N
  43. 43. Forms serve the purpose of the brand. Not the consumer. They are not a good experience. @msweezey
  44. 44. DATA + C H AT B O T #1 sources of qualified opportunities for Segment.io. 5X Increase in engagement 2X Increase in conversations @msweezey
  45. 45. @msweezey
  46. 46. VOICE WILL IMPACT BUSINESS BUYERS TOO C O N S U M E R T R E N D S A F F E C T B U S I N E S S B U Y E R S
  47. 47. 38% of all shoppers have used voice for purchasing, searching, or checking prices in the past three months @msweezey Source: State of the Connected Customer 2018
  48. 48. 72%OF CONSUMERS USING VOICE DO SO DAILY VOICE BECOMES DAILY HABIT THIS TREND WILL ONLY INCREASE IN THE FUTURE Source: Google Think @msweezey
  49. 49. ALEXA SKILLS @msweezey 50,000 Alexa skills worldwide. Both sources also reported that Alexa is now compatible with 20,000 devices and is used by more than 3,500 brands
  50. 50. BY 2025 1/8 OF ALL PEOPLE on the planet will be using a Virtual Digital Assistant
  51. 51. With the rise of voice, AI, and chatbots WEBSITES AS WE KNOW THEM WILL BE GONE IN FIVE YEARS. They will be replaced with conversational interfaces like this one. @msweezey
  52. 52. A NEW APEX FOR DIRECT MARKETING H U M A N _ - t o – H U M A N
  53. 53. One-to-One: is one brand message to one person. Human-to-Human: is one person to another on the brands behalf. @msweezey
  54. 54. Cisco found 135 employees have the same social power as a brand with 1,000,000 social followers. Your employees, customers, and advocates are the ground work for direct marketing efforts of the future. @msweezey
  55. 55. The average B2B business has 50,000 followers on social. To reach this same power you only need 5 people engaging in human-to-human ways. @ m s w e e z e y @msweezey
  56. 56. • EXPECT TO DRIVE $100 MILLION IN SALES VIA THIS PROGRAM • ONE GEARHEAD CAN MANAGE 10,000 RELATIONSHIP WITH CUSTOMERS IF THEY HAVE THE TECHNOLOGY • INCREASED THE LIFETIME VALUE OF THOSE CUSTOMERS 40% OVER THOSE NOT ENGAGED WITH THE PROGRAM, AND IT HAS INCREASED ORDERING BEHAVIOR BY 105%. • MY GEARHEAD IS WELSEY! @msweezey
  57. 57. THE FASTER FISH CREATES GREATER DEMAND @msweezey T H E F U T U R E I S A L S O A B O U T T H E W A Y W E W O R K
  58. 58. @msweezey In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish. - Klaus Schwab, Founder and Executive Chairman of the World Economic Forum “ “
  59. 59. 10X MORE LIKELY TO USE AGILE METHODS HIGH PERFORMERS USE AGILE METHODS High performers just don’t use new tactics, they build and operate in a different way. They are able to do more, with less effort, and obtain higher results via agile. Source: Salesforce State of Marketing 2017 @msweezey
  60. 60. Agile is the modern production method. @ m s w e e z e y @msweezey ““
  61. 61. User Stories Optimized Outcomes IterationTest Iteration Review Review The Agile Process @msweezey
  62. 62. Disposition Effective User Stories Contain Intention: Action What is the persons intention at that point in time.. Example: What was your initial intention behind your search for a solution in this category? Helps you uncover the emotions related to to each stage, such as anxiety or excitement. Example: Have you bought anything in this category before? How prepared did you feel in your search? What emotion best describes your feelings at this stage? What did the person do at that moment. Example: What questions did you ask? Where? Were you able to find what you were looking for? @msweezey
  63. 63. John, I noticed an article on Content experience, and thought you might like to give it a look. John, There is a video in our resource library on Lead nurturing best practices, here’s a link to it. It was recorded with Jay Baer. John, I’m not sure if you follow this guy on social. But If you’re on Twitter you might want to check out @jaybaer. We’ve just shot a webinar.. AGILE TEST @msweezey
  64. 64. ASK THE QUESTION @msweezey
  65. 65. REVIEW 1. WHAT WERE YOU LOOKING FOR? 2. DID IT MEET YOUR EXPECTATIONS? 3. HAVE YOU FOUND BETTER? @msweezey
  66. 66. THIS ALL COSTS A LOT MORE MONEY D E M A N D G E N E R A T I O N W I L L C O S T M O R E @msweezey
  67. 67. MAINTAIN BRANDING 15% HEADCOUNT 80% PROGRAMS 5 % TECH + OTHER 2-6% GR AVERAGE BUDGET FAST GROWTH 25% HEADCOUNT 65% PROGRAMS 10% TECH + OTHER 7-12% GR 30% HEADCOUNT 55% PROGRAMS 15% TECH + OTHER 13-30% PR *GROSS REVENUE *GROSS REVENUE *PROJECTED REVENUE @msweezey
  68. 68. 5 PIECES OF CONTENT TO PUT ON YOUR BOSSES DESK STRETCH BUDGET BASICS 1. NEGOTIATE UP FRONT– Stretch budgets are negotiated up front, just like a line of credit. 2. DOUBLE DOWN – They allow you to double down on great ideas, proving out new tactics and channels. 3. INSTANTLY ACCESSIBLE – You have instant access to them because they were pre-negotiated. @msweezey
  69. 69. CONCLUSIONS @msweezey
  70. 70. EXPERIENCE @msweezey MATTERS FOR ALL BUYERS
  71. 71. @msweezey MORE INPUTS MORE BOTS LESS FRICTION REAL TIME
  72. 72. CONTEXT @msweezey IS THE KEY TO BREAK THROUGH
  73. 73. MARKETING @msweezey MUST OWN THE FULL EXPERIENCE
  74. 74. REVENUE @msweezey IS INCREASED BY MORE THAN NET NEW
  75. 75. @msweezey MORE DATA MORE TOOLS MORE HUMAN MORE BUDGET
  76. 76. @msweezey In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish. - Klaus Schwab, Founder and Executive Chairman of the World Economic Forum “ “
  77. 77. @msweezey

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