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Six Truths BtoB Marketers Must Accept

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Slides from the hard-hitting webinar on marketing automation best practices by Manticore Technology and Bulldog Solutions.

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Six Truths BtoB Marketers Must Accept

  1. 1. Six Truths BtoB Marketers Must Accept to be Successful with Marketing Automation May 11, 2010 © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  2. 2. 2 The Marketing Automation Imperative  SiriusDecisions: 50% of BtoB will have marketing automation by 2015  Executive Benchmark Assessment Data: Executive Benchmark Assessment, Bulldog Solutions and Frost & Sullivan, 2009 © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  3. 3. 3 Big Gains (Potential) Companies that get lead scoring right have a 192% higher average lead qualification rate than those that do not. Source: Aberdeen Research Nurturing (leads) with relevant communication and multiple touches increased conversion to sales ready leads by 375% in the first eight months. Source: Brian Carroll (InTouch) and Dr. Flint McGlaughlin (Marketing Experiments) © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  4. 4. 4 Truth #1: Marketing Automation ISN’T Easy “MAP vendors have tended to outdistance the current capabilities of many marketing functions with the deep functionality offered, meaning that the inability to fill the “marketing skills gap” is one of the greatest threats to the long-term viability of the MAP space. All the technology in the world will be worthless if users aren’t able to utilize the MAP in a deep fashion and aren’t properly motivated and supported by the greater organization that surrounds them.” Source: SiriusDecisions © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  5. 5. 5 Big Challenges Executive Benchmark Assessment, Bulldog Solutions and Frost & Sullivan, 2009 © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  6. 6. 6 About Manticore Technology  Founded in 2001  Trusted provider of SaaS marketing automation solutions since 2003  Companies of all sizes around the globe rely on Manticore to manage and measure their marketing funnel.  Simply powerful marketing automation  Developed for marketers  Ideal combination of usability and power  It’s about process – not technology for technology sake  People  Process  Technology Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  7. 7. Customers Around the Globe 7 Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  8. 8. 8 About Bulldog Solutions Bulldog Solutions is a demand acceleration company that changes the way BtoB companies define demand generation strategy, engage prospects and convert leads to customers. We power demand generation and demand management programs for many of the best business brands in the world. Industry leaders have recognized our unique process and technologies as best-in-breed at turning a higher proportion of prospects into sales and improving the return on marketing investment. © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  9. 9. 9 Executive Benchmark Assessment • Why benchmark? • Compare to best practices • Compare to peers • Just for BtoB • Measures: • Strategy • Content • Database Comparison to high • Marketing automation Validated by global research firm Frost & performers Sullivan Recommendations based on results Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  10. 10. 10 Truth #2: Process Is the Key Process People Technology © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  11. 11. 11 Defining and Building a Process is HARD How Do You Build a Process? “Most organizations we 1. Assess where you are at now deal with lack a structured marketing process. The 2. Define stages of marketing funnel fact that we’re automating it literally forces them to 3. Benchmark conversion rates think through what the Identify conversion bottlenecks process should look like.” 4. Leigh Kelson, Managing 5. Define lead nurtures Director Pacific Rim Marketing 6. Execute *DemandGen Report: 7. Measure & Compare Lessons from the Trenches 2009* © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  12. 12. 12 What SHOULD be Easy When You Have the Right Process in Place…  Identifying the RIGHT technology  Using the technology  Integration with your CRM  Getting support from your vendor when needed  Proving ROI on marketing spend  Driving revenue growth Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  13. 13. 13 Prepare Your Organization  Manage expectations – this takes time/learning  Identify & train a system operator(s)  Establish open communication with your vendor  Start basic - Grow more sophisticated  Document your process Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  14. 14. 14 Demand Acceleration Framework Demand Acceleration Framework St r at egy  Guides discovery and deployment Sales Support Audience Definition  Strategic layer maps goals to rt At outcomes to program components ve tr Con act Lead Message Routing Development Cont ent Te chnol og  Core data, content and technology y Lead Data Audience are fundamental to program Qualification Acquisition development Lead Nurturing Program Integration  Nine practices areas are Lead Scoring incremental to program growth and performance Engage © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  15. 15. 15 Get It Right, Close 5X Deals Waterfall Conversion Rates Inq/MQL MQL/SAL SAL/SQL SQL/Close Average Strong Process Best Practice Source: SiriusDecisions © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  16. 16. 16 Truth #3: The Buying Process Then Now Awareness Awareness MARKETING MARKETING Interest Interest Evaluation Evaluation SALES Commit Commit With infinite information, buyers are doing extensive amounts of research before picking up the phone – and it’s ongoing Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  17. 17. 17 Influences on the Buyer Source: DemandGen Report – Breaking out of the Funnel, survey of 100 B2B Buyers Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  18. 18. 18 Online Activity Shows Buying Phase 60% Comparison Review Phrases, 52% 50% Brand Phrases, 43% 40% 30% 20% Solution, 18% 10% Issue Opportunity Phrases, 5% 0% Awareness Phase Consideration Phase Decision Phase *Google/TechTarget Research Project: How IT Pros Search Online During the Purchase Process* © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  19. 19. 19 Strategies to Manage Truth #3  Deliver relevant content to buyers based on where they are at in the buying cycle through lead nurturing  Make content widely available  Don’t be afraid to make comparisons to your competition  Enable sales – who do they engage? What do they talk about  Sales alerts  Website visit tracking  Lead scoring © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  20. 20. 20 Insight from Marketing Automation “Brand Phrase” Search Term Indicates Prospect is in “Decision Phase” Online Demo & Comparison Click Path © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  21. 21. 21 Truth #4: Content Is King (and not necessarily a benign dictator) Executive Benchmark Assessment, Bulldog Solutions and Frost & Sullivan, 2009 © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  22. 22. 22 Content Requirements Grow © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  23. 23. 23 Support for Multiple Messages Executive Benchmark Assessment, Bulldog Solutions and Frost & Sullivan, 2009 © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  24. 24. 24 How Much Content Do You Need? Inquiry CTA MQL CTA SAL CTA SQL CTA Convert Gain Permission Overcome Objections Support Decisions Attract prospects into Provide information to Final call-to-action to your database overcome objections convert opportunities • Registration • Learn More • Find out why • Opt-in • Download • Read Testimonials • Sign-up • Read More • See our client success stories © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  25. 25. 25 Content Audit    Permission Message Focus Objection    Validation  Persona 1 Persona 2 Persona 3 Persona 4 Determine availability and volume of content to drive prioritization of new/repurposed content. © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  26. 26. 26 Truth #5: Think Beyond Quantity  Lead Nurturing: The process of building prospect engagement through ongoing value-based ‘dialogue’ with qualified suspects, prospects, and existing clients.  A successful nurturing program:  Extends over multiple touchpoints across a complex sales cycle  Offers value in exchange for prospect insight  Leverages calls-to-action to drive prospects towards a clearly defined conversion goal © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  27. 27. 27 Benefits of Lead Nurturing  Drive greater ROMI  Extend the value & life of existing marketing collateral  Drive greater conversion from lead generation activities  Provide greater Proper lead nurturing programs can yield anywhere from 15% to 200% in integration across additional, new qualified leads. existing programs Brian Carroll, InTouch, in “Lead Nurturing: Ripening the Right Bananas,” MarketingProfs  Strengthen brand © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  28. 28. 28 Benefits of Lead Nurturing  Revitalize dead opportunities  Generate mindshare and maintain contact with leads throughout the sales cycle  Augment data captured through traditional lead scoring / lead qualification  Improve database hygiene, Companies that engage lead practices, which include in best segmentation and size nurturing, convert 33% more leads than those that do not. SiriusDecisions Index “Marketing and Sales Waterfall Conversion Rates” © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  29. 29. 29 Building Blocks  Strategy  Content Depth  Database Strength  Marketing Automation Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  30. 30. 30 Truth #6: You Don’t Know What You Don’t Know “The inability to fill the “marketing skills gap” is one of the greatest threats to the long- term viability of the Marketing Automation space. All the technology in the world will be worthless if users aren’t able to utilize it in a deep fashion and aren’t properly supported by the greater organization that surrounds them.” The State of Marketing Automation: Utilization, SiriusDecisions, 2009 Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  31. 31. 31 Necessary Skillsets  Ability to define and automate a marketing business process  Ability to manage and negotiate with players (sales & marketing)  Industry-specific content writing and management  Technical expertise necessary to manage your  marketing automation platform  Not all marketing automation platforms require the same level of expertise. Consider your available skill sets when choosing a platform. Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  32. 32. 32 Finding the Right Skillsets  Multiple ways to achieve the same outcome 1) Train Your Current Team in the Areas Needed  Initial training – Does it cost extra or it is included?  Ongoing training – Is it available? How is it delivered? 2) Hire an Agency to Train Your Team and/or Manage the platform 3) Hire New Team Members to Fill In Your Skills Gaps  Marketing Automation Platforms Aren’t Plug & Play  People support technology and process: There’s no way around it. © 2010 Bulldog Solutions and Manticore Technology. All rights reserved.
  33. 33. 33 Summary: Rules of the Road  “Ease of Use” in a Marketing Automation Platform EASY.  Building and Executing a Business Process Is Key to Your Success.  Use Your Marketing Automation Platform to Drive Behavior- Based Engagements.  Content Is Your Fuel. You Need it to Reach Your Destination.  Marketing Automation Enables You to Shift Your Focus from Quantity to Quality.  People Run the Technology. Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com
  34. 34. 34 Executive Benchmark Assessment • Why benchmark? • Compare to best practices • Compare to peers • Just for BtoB • Measures: • Strategy • Content • Database Comparison to high • Marketing automation Validated by global research firm Frost & performers Sullivan Recommendations based on results Executive Benchmark Assessment: eba.bulldogsolutions.com © 2010 Bulldog Solutions. All rights reserved. www.bulldogsolutions.com

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