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3 Building Blocks for Accelerating Demand Generation


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3 Building Blocks for Accelerating Demand Generation

  1. 1. | @ActOnSoftware | #ActOnSW 3 Building Blocks for Demand Generation
  2. 2. | @ActOnSoftware | #ActOnSW Chat
  3. 3. | @ActOnSoftware | #ActOnSW Social #ActOnSW
  4. 4. | @ActOnSoftware | #ActOnSW Today’s Presenter Jay Hidalgo Demand Gen Coach @jayhidalgo
  5. 5. | @ActOnSoftware | #ActOnSW Agenda • The State of Demand Generation Today • Overview of the Demand Gen Process and Framework • 3 Building Blocks for Demand Generation • Questions
  6. 6. | @ActOnSoftware | #ActOnSW The State of Demand Generation Today
  7. 7. | @ActOnSoftware | #ActOnSW Marketers Are Still Struggling To Generate Leads • More than two thirds (68%) of companies report struggling with lead generation Source: Source: Lattice Engines/CSO Insights
  8. 8. | @ActOnSoftware | #ActOnSW The Buyer Doesn’t Need Us • 90% of business buyers say when they’re ready to buy, they’ll find you Source: Demand Gen Report
  9. 9. | @ActOnSoftware | #ActOnSW The Buyer Doesn’t Need Us Although it varies greatly with product complexity and market maturity, today’s buyers might be anywhere from two-thirds to 90% of the way through their journey before they reach out to the vendor. Source: Forrester (L. Wizdo)
  10. 10. | @ActOnSoftware | #ActOnSW We Don’t Know The Buyer "Half of the marketers create and use content that educates buyers on their issues and problems, but only 14% align compelling content with buyer journeys in a way that tells a story." Source: Forrester (J. Ernst), “The State Of B2B Demand Generation: Disjointed”
  11. 11. | @ActOnSoftware | #ActOnSW “86% of the 'unique benefits' 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,” We Don’t Know What The Buyer Wants
  12. 12. | @ActOnSoftware | #ActOnSW As A Result… • 79% of marketing leads never convert into sales.(Source: MarketingSherpa) • 61% of B2B marketers send all leads directly to Sales; however, only 27% of those leads will be qualified. (Source: MarketingSherpa) • 90% of marketing deliverables are not used by sales. (Source: The New Rules of Sales Enablement)
  13. 13. | @ActOnSoftware | #ActOnSW And Yet… • Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate. (Source: CSO Insights) • 46% of marketers with mature lead management processes have sales teams that follow up on more than 75% of marketing-generated leads. (Source: Forrester Research) • Companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost. (Source: Forrester Research) • Companies with better than average demand generation process experience a 416% increase in closed deals over companies with little to no process. (Source: SiriusDecisions)
  14. 14. | @ActOnSoftware | #ActOnSW • Leaders aligned nurture campaign content with buyer persona and buy cycle stage more than twice as often as laggard organizations. • As a result of this the best-in-class firms also averaged a 20% lower average nurture cycle period and 48% higher nurture campaign leads. Here’s The Difference
  15. 15. | @ActOnSoftware | #ActOnSW The Demand Generation Process
  16. 16. | @ActOnSoftware | #ActOnSW The Framework The Buyer
  17. 17. | @ActOnSoftware | #ActOnSW Start with Knowing the Buyer – Buyer Persona • What is a Buyer Persona? • A short bio of the typical customer • Person description • Includes information on • Buyer’s background • Daily activities/behavior • Current solutions to problem • What’s important to this buyer
  18. 18. | @ActOnSoftware | #ActOnSW Sample Persona
  19. 19. | @ActOnSoftware | #ActOnSW Buyer Persona Matrix - Example Manager Director/Sr. Director Vice - President CxO Buyer Background Daily Activity Challenges Solutions to Challenges Compelling Event
  20. 20. | @ActOnSoftware | #ActOnSW Knowing the Buying Process • The steps the buyer goes through from need identification to post purchase • From THEIR view, not yours • Should be customized, not “vanilla” • Provides a framework for providing the right message at the right time
  21. 21. | @ActOnSoftware | #ActOnSW • Whiteboard the hypothetical buying process • Test initial hypotheses with internal and external marketing research • Validate with stakeholders (prospects, customers, sales, marketing) After reviewing all options, narrow down to top 2 or 3 and plan onsite visits • Season of Life • Dissatisfaction with current school Looking for other options; looking at features such as proximity, culture, safety, academics Select the preferred institution; confirm that this choice meets our needs Fill out application; learn about the enrollment process and get ready for first day Change of Status Quo Info Gathering Narrow Choices Choose Enroll Building the Buying Process
  22. 22. | @ActOnSoftware | #ActOnSW • They are the basis for database segmentation • They are the basis for lead qualification • They are the basis for developing content Why is the Buyer Persona & Buying Process Important?
  23. 23. | @ActOnSoftware | #ActOnSW Database Structure
  24. 24. | @ActOnSoftware | #ActOnSW Lead Qualification Rules for Routing and Criteria The following criteria/rules will be captured (as much as is feasible) on all Responses and Leads. Rules Responses will become Marketing Qualified when… 1.The response is a product download (behavior) 2.The response requests a contact from sales (behavior) 3.The response is an registrant or attendee from a product oriented webinar (behavior) 4.The response registered for or attended a seminar (behavior) 5.Have 11 or more technicians (background) Criteria The following criteria will be built into the Lead Management process, and will be captured from Responses and Leads: Budget (background) Approved? Not Approved? Need Help Developing a Budget Unknown, Too early to determine •Industry (demographic) •Number of Help Desk Staff (background) •Initial Product Interest (Current Solution to Problem) Product A Product B Product C Product D Product E Product F Lead Qualification Example
  25. 25. | @ActOnSoftware | #ActOnSW Build Content Source: Keith Holloway, One Degree Buyer Persona/Buying Cycle Stage Gain Permission Overcome Objections Support Decisions Economic Whitepaper A ROI/CTO Calculators • Proposal • ROI/TCO Calculators Technical • Brochure • Whitepaper B • Webinar • Free Trial • Test Drive • Help Files • Documentation • Case Studies • Testimonials Influencer • Success Stories • Newsletter ROI/CTO Calculators References and Endorsements Executive Whitepaper A ROI/CTO Calculators • Proposal • References and Endorsements
  26. 26. | @ActOnSoftware | #ActOnSW Build a Content Plan • Content is information that is of value to visitor/prospect/customer. Often, they are willing to exchange their contact details to access it • Different content will be more/less effective depending on the buyers relationship with the company, and their place in the buying journey • Content can be delivered across multiple channels: • Web • Email • Social media • Mobile • Call center • Offline: direct mail, advertising, events
  27. 27. | @ActOnSoftware | #ActOnSW Keys to Building Content Plan • Engaging with and building a relationship with prospects and customers • Providing relevant and timely information based on their needs, not yours • Content can/should be repurposed for different campaigns and channels (Rule of 4) • Offers should be developed for a specific persona(s) • Will aide in a greater velocity in deals through the pipeline • Marketing and sales should collaborate
  28. 28. | @ActOnSoftware | #ActOnSW Content Matrix Model Source: Tom Pisello, Content Marketing Institute
  29. 29. | @ActOnSoftware | #ActOnSW Content Blueprint Buyer Persona/Buying Stage Stage 1 Stage2 Stage 3 Stage 4 Stage 5 Persona Persona Persona Persona
  30. 30. | @ActOnSoftware | #ActOnSW Takeaways… • The difference between best-in class companies and laggards is the implementation of the 3 Building Blocks • Buyer Personas • Buyer Process • Content Plan • Develop these 3 collaboratively with sales • Roll out demand generation programs and process AFTER these are established
  31. 31. | @ActOnSoftware | #ActOnSW Learn More About Act-On Software Interested in Demo? +1 (877) 530-1555 THE FORRESTER WAVE™ LEADER QUADRANT
  32. 32. | @ActOnSoftware | #ActOnSW Q&A Jay Hidalgo Demand Gen Coach @jayhidalgo