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B2B Inbound Marketing: How to win active Prospects as Clients

This presentation shows the basis to develop inbound marketing strategies for a Business-to-Business company. The slides are an English summary of my E-Book "B2B Inbound Marketing: How to win active Prospects as Clients" (German only).

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B2B Inbound Marketing: How to win active Prospects as Clients

  1. 1. chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de B2B Inbound Marketing How to win active Prospects as Clients
  2. 2. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de The Active Prospect I <ul><li>According to Marketing Sherpa’s “B2B Lead Generation Handbook” 80 % of all clients found their vendors by themselves. </li></ul><ul><li>Therefore, 20 % of all clients are the result of direct marketing, tele-marketing and sales calls. </li></ul><ul><li>Which strategies do companies use to better reach this 80 %? </li></ul><ul><li>Current discussion is mostly about activities instead of strategies, mostly online-marketing on a trial-and-error-basis. A structured, strategic basis for Whitepapers, SEM or Weblogs is needed. </li></ul>
  3. 3. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de The Active Prospect II <ul><li>New situation: Active prospects search for vendors and contact vendors when they are ready. </li></ul><ul><li>This is possible because of the volume of information available from vendors, market analysts, media and other sources, mostly via internet. </li></ul><ul><li>Additionally, as corporate decision-making has gotten more and more complex, a fast ROI is mandatory and the decision-making climbs up the corporate ladder, the preparation must be right to the point. </li></ul><ul><li>Therefore, a new strategic approach is necessary: </li></ul><ul><li>B2B-Inbound-Marketing </li></ul>
  4. 4. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de B2B Inbound Marketing <ul><li>Companies exist to integrate and transfer their micro-segmented competencies into complex value propositions relevant to the needs of their clients. </li></ul><ul><li>B2B Inbound Marketing is the ability of a company to adjust their value propositions to the clients and value needs of individual clients. </li></ul><ul><li>B2B Inbound Marketing follows the processes of a client (decisions, production, SCM etc.). </li></ul><ul><li>Basics of Inbound marketing are competencies, relationships and information/content. </li></ul>
  5. 5. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de B2B Inbound Marketing in Lead Generation <ul><li>B2B inbound marketing in lead generation follows the decision processes of a client. </li></ul><ul><li>Targets: </li></ul><ul><ul><li>Inform the prospect, so he starts the contact with the vendor </li></ul></ul><ul><ul><li>Demonstrate competency and ability/strengths of a solution </li></ul></ul><ul><ul><li>Reduce the client’s risk evaluation </li></ul></ul><ul><ul><li>Pre-qualify the prospect for the sales contact </li></ul></ul><ul><li>Highly individualized communications is needed in inbound-marketing. </li></ul><ul><ul><li>Don Peppers/Martha Rogers: “As the interactive age arrives, every enterprise has to learn to treat different customers differently”. </li></ul></ul>
  6. 6. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Decision process I <ul><li>Separates itself into preparing for the decision and then making it. </li></ul><ul><li>Inbound marketing focuses on the preparation: </li></ul><ul><ul><li>Recognize and describe problems </li></ul></ul><ul><ul><li>Time-table for an investment </li></ul></ul><ul><ul><li>Develop requirements for products and suppliers </li></ul></ul><ul><ul><li>Choose suitable solutions and vendors </li></ul></ul><ul><ul><li>Research dependencies with current infrastructure </li></ul></ul><ul><ul><li>Research costs (investment, service, usage, maintenance etc.) </li></ul></ul><ul><ul><li>Define necessary process changes, market or other (dis)advantages </li></ul></ul><ul><ul><li>Evaluate make or buy </li></ul></ul>
  7. 7. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Decision process II <ul><li>The preparation (as well as the decision making) is rarely a well structured process. </li></ul><ul><li>The person responsible for the preparation can’t rely on routines. His job is very complex and he welcomes any relief. </li></ul><ul><li>The person preparing to make a decision needs to feel he can trust the vendor and their information. </li></ul>
  8. 8. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de The 5 “I” of B2B Communication to build Trust <ul><li>Developed by Kleinenkamp/Ploetner (1996) </li></ul><ul><ul><li>Intensity: Trust can only be built long-term and in small steps. Individuality: As every prospect prefers different content and presentation forms, trust must be built on an individual basis. </li></ul></ul><ul><ul><li>Irradiation effects: As competence and reliability are hard to perceive in advance, prospects look for alternate information, e.g. size of vendor. </li></ul></ul><ul><ul><li>Intelligence: To communicate intelligently means to deliver the right, risk-reducing information to the decision maker. References are helpful. </li></ul></ul><ul><ul><li>Integration: Integration means that all communication activities and the prospect have to be involved. </li></ul></ul>
  9. 9. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Content Marketing I <ul><li>Eingine of inbound marketing is content that: </li></ul><ul><ul><li>Focus on decision makers & show solutions from different perspectives (Individuality) </li></ul></ul><ul><ul><li>Meet decision maker‘s interests, i.e. are relevant (Individuality, Intelligence) </li></ul></ul><ul><ul><li>Help decision making/preparation because of personal/prof. reasons (Intelligence) </li></ul></ul><ul><ul><li>Are somewhat exclusive (Individuality) </li></ul></ul><ul><ul><li>Are consistent and complete (Integration) </li></ul></ul><ul><ul><li>Allow a long-term dialogue and a step-by-step increase in expertise (Intensity) </li></ul></ul><ul><ul><li>Make the competence of a vendor and the capability of a solution tangible (Irradiation effects, Intelligence) </li></ul></ul><ul><ul><li>Are easily available, e.g. registration for download (Integration) </li></ul></ul>
  10. 10. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Content Marketing II <ul><li>The vendor needs a concrete content marketing strategy. He must define </li></ul><ul><ul><li>Who (decision maker, preparer, influencer) should receive </li></ul></ul><ul><ul><li>Which content (messages) in which detail </li></ul></ul><ul><ul><li>Because of which influencing factors </li></ul></ul><ul><ul><li>Via which communication channels and activities </li></ul></ul><ul><li>The vendor needs to see himself as a publisher of high-quality content competing with other information publishers. </li></ul><ul><li>Content is released on corporate blogs, Twitter, micro sites or external web sites (e. g. whitepaper portals). </li></ul><ul><li>Holding back information like before is counter productive. </li></ul>
  11. 11. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Content Marketing III <ul><li>Marketing has to know the person it wants to connnect with. </li></ul><ul><li>Buyer persona (David Meerman Scott): Instead of large target groups marketing should reach personalized decision makers. </li></ul><ul><li>Make buyer persona more lively with names, positions, biographies </li></ul><ul><li>A buyer persona needs to identity his needs, responsibilities and risk evaluation in marketing communications. </li></ul><ul><li>All members of a buyer center must be considered. </li></ul><ul><li>Make it easy for everyone to get hold of your content. </li></ul>
  12. 12. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Content Marketing IV <ul><li>Risk evaluation of a buyer persona depends on: </li></ul><ul><ul><li>Investment type </li></ul></ul><ul><ul><ul><li>Product, system or plant </li></ul></ul></ul><ul><ul><ul><li>Recurring purchase, purchase with changes or first-time purchases </li></ul></ul></ul><ul><ul><li>Technology diffusion along the technology adoption lifecycle ( Everett M. Rogers/ Geoffrey A. Moore) </li></ul></ul><ul><ul><ul><li>Innovators </li></ul></ul></ul><ul><ul><ul><li>Early adopters </li></ul></ul></ul><ul><ul><ul><li>Early majority </li></ul></ul></ul><ul><ul><ul><li>Late majority </li></ul></ul></ul><ul><ul><ul><li>Laggards </li></ul></ul></ul>
  13. 13. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Micro-positioning I <ul><li>A vendor must communicate their value propositions (capabilities) to each buyer persona = Persona propositions. </li></ul><ul><li>This general approach is reflected in the content and the level of detail. </li></ul><ul><li>All influence factors/parties have to be considered. </li></ul><ul><li>The difference to classical positioning is in the micro-orientation towards the buyer persona. </li></ul><ul><li>There are three way to get an insight into what a buyer persona wants: </li></ul><ul><ul><li>Internal or external expertise </li></ul></ul><ul><ul><li>Analysis of requirement specifications </li></ul></ul><ul><ul><li>Qualitative, field research </li></ul></ul>
  14. 14. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Micro-positioning II <ul><li>Basic messages (persona propositions) are developed based on the expertise or the results of the analysis or field research: </li></ul><ul><ul><li>per buyer persona </li></ul></ul><ul><ul><li>per investment type </li></ul></ul><ul><ul><li>per risk evaluation </li></ul></ul>
  15. 15. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Three Steps of B2B Inbound Marketing <ul><li>The 3-step-process to support prospects in their decision making process and to generate them as leads is: </li></ul><ul><ul><li>Find </li></ul></ul><ul><ul><li>Providing information and getting contacted by prospects </li></ul></ul><ul><ul><li>Nurture marketing and lead qualification </li></ul></ul><ul><li>Generally it is best, if marketing and sales define together, what a sales ready lead is. One possible way is, that marketing is responsible for these first three steps. If the (pre-qualified) prospect wants concrete information on solution, sales steps in. </li></ul>
  16. 16. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Find I <ul><li>Prospects do not only limit their supplier search to the internet. To reduce risks they will (Enquiro Research): </li></ul><ul><ul><li>Look for existing/certified suppliers </li></ul></ul><ul><ul><li>Ask colleagues inside and outside their own company </li></ul></ul><ul><ul><li>Ask existing suppliers with other solutions </li></ul></ul><ul><ul><li>Comb through general information of suppliers </li></ul></ul><ul><li>But in most cases they will research potential suppliers online first. </li></ul><ul><li>Additionally, most information research and dialogue will happen online – especially early in the sales cycle. </li></ul>
  17. 17. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Find II <ul><li>No separation between online & offline. Users are savvy to navigate in-between. </li></ul><ul><li>Central B2B inbound marketing activities are: </li></ul><ul><ul><li>Search engine optimization (SEO) </li></ul></ul><ul><ul><li>Search engine marketing (SEM) </li></ul></ul><ul><ul><li>Blogs & Twitter </li></ul></ul><ul><ul><li>Social media </li></ul></ul><ul><ul><li>Public relations </li></ul></ul><ul><ul><li>Exhibitions </li></ul></ul><ul><ul><li>Public speaking </li></ul></ul><ul><ul><li>Industry associations </li></ul></ul>
  18. 18. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Providing information and getting contacted by prospects <ul><li>As soon as an evaluator starts to consider a concrete, complex solution, he needs a connection to the vendor. </li></ul><ul><li>To inform himself and to initiate he uses channels the supplier offers: </li></ul><ul><ul><li>Websites </li></ul></ul><ul><ul><li>Blogs, Podcasts & Twitter </li></ul></ul><ul><ul><li>RSS-Feeds </li></ul></ul><ul><ul><li>Whitepapers </li></ul></ul><ul><ul><li>Webinars </li></ul></ul><ul><ul><li>Product tests </li></ul></ul><ul><ul><li>Bulletin boards </li></ul></ul><ul><ul><li>E-Books </li></ul></ul><ul><ul><li>Call-back buttons </li></ul></ul><ul><ul><li>Online Chats </li></ul></ul>
  19. 19. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Nurture Marketing and Lead Qualification I <ul><li>Vendors have to nurture the prospects until they are ready to decide. This might take months. Marketing establishes a continuous information exchange and a dialogue with the prospect. </li></ul><ul><li>The care consists mainly of materials that the prospects chooses by himself (newsletter, webinars, whitepapers). </li></ul><ul><li>In parallel the vendor tries to speed up the decision process. The buyer persona might need additional information to push the decision process internally or to see the relevance of a decision. </li></ul>
  20. 20. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de Nurture Marketing and Lead Qualification II <ul><li>Sales takes over as soon as the prospects is sales ready. Marketing and sales should decide on when it‘s the case. </li></ul><ul><li>As the prospect builds up expertise during the process, sales efforts will decrease. </li></ul><ul><li>During the process and the dialogue the vendor receives information for the lead qualification. Web analytics can be very helpful. </li></ul>
  21. 21. B2B-Inbound-Marketing chain relations || Torsten Herrmann || 24.07.2009 || page www.chainrelations.de chain relations Torsten Herrmann Georg-Speyer-Straße 2 D-60487 Frankfurt am Main Tel. +49/69/31 01 90 11 [email_address] http://www.chainrelations.de http://www.twitter.com/torstenherrmann http://www.linkedin.com/in/torstenherrmann https://www.xing.com/profile/Torsten_Herrmann

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