B2B: Customers are in charge – and so what?

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Forget the funnel and cultivate the eco system. View the slides from our morning briefing April 2014

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B2B: Customers are in charge – and so what?

  1. 1. B2B: Customers are in charge – and so what? Forget the funnel and cultivate the eco system Kristoffer Okkels, Digital Business Consultant Lars Elkjær Andersen, Director, Clients & Sales, Aarhus morgenbriefing
  2. 2. Agenda © Creuna Four major trends Cases The modern B2B buyer
  3. 3. Four major trends
  4. 4. Speed of Change 1
  5. 5. Every new technology cycle supports 10 timesmore users and devices. KPCB/Mary Meeker © Creuna http://www.kpcb.com/insights/2013-internet-trends
  6. 6. © Creuna Social technologies are adopted at an increasing speed. McKinsey Global Institute http://www.mckinsey.com/insights/high_tech_telecoms_internet/the_social_economy
  7. 7. Connectivity 2
  8. 8. 75% of all businesses use social collaboration tools in 2013. eConsultancy © Creuna http://econsultancy.com/dk/blog/10986-75-of-businesses-to-use-social-collaboration-tools-in-2013-infographic
  9. 9. 96%of B2B tech buyers engage with one or more social media site and service. IDG Research Services © Creuna http://idgknowledgehub.com/b2b-tech-buyers-are-using-social-media/2012/12/03/
  10. 10. Big Data 3
  11. 11. Companies embracing big data are 4% more productive and have 6% higher profitability McKinsey Global Institute © Creuna http://www.mckinsey.com/insights/high_tech_telecoms_internet/ten_it-enabled_business_trends_for_the_decade_ahead
  12. 12. B2B marketers can use big data to drive more targeted and effective campaigns. Lisa Arthur, author of ’Big Data Marketing: Engage Your Customers More Effectively and Drive Value’ © Creuna “ ” http://www.forbes.com/sites/lisaarthur/2012/04/17/b2b-marketers-use-big-data-new-tools-to-evaluate-execute-evolve/
  13. 13. Transparency 4
  14. 14. Organizations that fail to be transparent will have it forced upon them. Harvard Business Review © Creuna http://www.hbr.org/2009/06/a-culture-of-candor/ar/1
  15. 15. see opportunities adaptive communication utilize your data keep your door open
  16. 16. Agenda © Creuna Four major trends Cases The modern B2B buyer
  17. 17. The nature of B2B buying is changing The buyer perspective:
  18. 18. 1. Who’s involved? 2. Where does the research and purchase happen? 3. What influences the process?
  19. 19. Who’s involved in the buying process? © Creuna Centralization Sharing Involvement
  20. 20. In most large organizations, decentralized buying is dead. John O’Gorman, author of “The B2B Sales Revolution” © Creuna “ ” http://buyer.sellerinsights.com/2013/06/13/why-decentralized-buying-is-dead/
  21. 21. 59%forward online content to more than 25 people. CMO Council © Creuna http://buyer.sellerinsights.com/2013/06/13/why-decentralized-buying-is-dead/
  22. 22. 67% of buyers involve more team members in the buying process compared to last year. DemandGen Research © Creuna http://bit.ly/1sgwu7e
  23. 23. Business buyers are people, not faceless companies. Forrester Research © Creuna http://blogs.forrester.com/laura_ramos/08-10-24-will_b2b_marketing_become_obsolete_part_ii
  24. 24. Where does the buying take place? © Creuna Multiple touchpoints Omni-channel Online sales Online loyalty Personal interaction
  25. 25. The business-from-business buyer is already much more multichannel than the business-to-business sellers are. Forrester Research © Creuna http://blogs.forrester.com/lori_wizdo/12-10-04-buyer_behavior_helps_b2b_marketers_guide_the_buyers_journey
  26. 26. accounts for 3-5% of B2B eCommerce sales 7-10% of B2B eCommerce traffic Forrester Research © Creuna http://www.forrester.com/The+New+And+Emerging+World+Of+B2B+Commerce/fulltext/-/E-RES90701?al=0
  27. 27. © Creuna Several important touchpoints Forrester Research http://www.forrester.com/How+B2B+Marketers+Use+Social+Now/fulltext/-/E-RES94263
  28. 28. 40% of corporate buyers spend at least half of their procurement budget online. © Creuna http://www.acquitygroup.com/news-and-ideas/thought-leadership/article/detail/stateofb2b 59% of those who buy online make purchases of $5,000 or more. Acquity Group
  29. 29. Online-only and omnichannel customers… •  Are more likely to make repeat purchases •  Have higher average order value •  Are more likely to add items to orders and order in bulk © Creuna http://www.hybris.com/en/news-events/press-releases/131030-b2b-market Forrester Consulting
  30. 30. Even in the digital era, personal interactions with sales reps remain the most influential factor for B2B customers. McKinsey Quarterly © Creuna ttp://www.mckinsey.com/insights/marketing_sales/how_b2b_companies_talk_past_their_customers
  31. 31. What influences the modern buyer? © Creuna Content Relationships Price and convenience Transparency
  32. 32. 99% of buyers place high emphasis on the trustworthiness of the content they view, but only 9% trust content from vendors DemandGen Research & CMO Council © Creuna http://bit.ly/1kxDB5P & http://www.cmo.com/articles/2013/6/3/b2b_buyers_don_t_tru.html
  33. 33. 87% of all customers say online content have high or moderate influence on their vendor selection. CMO Council © Creuna http://www.cmo.com/articles/2013/6/3/b2b_buyers_don_t_tru.html
  34. 34. © Creuna http://www.gartner.com/newsroom/id/2587415 81% value interaction with technical experts 38% value interaction with sales reps.
  35. 35. 85% would discard their loyal supplier for a vendor with a lower price. © Creuna http://www.acquitygroup.com/news-and-ideas/thought-leadership/article/detail/stateofb2b 71% would discard their supplier for a vendor with a more convenient buying process. Acquity Group
  36. 36. Demand is growing rapidly for web- based self-service eCommerce capabilities that allow customers to research, make, and service their purchases from any device. Forrester Consulting © Creuna http://www.hybris.com/en/news-events/press-releases/131030-b2b-market
  37. 37. © Creuna empoweredtothebone +digitallyengaged +acollaborativejedi +demandscontentandexpertise +butstillhumanafterall Your New Customer
  38. 38. Agenda © Creuna Four major trends Cases The modern B2B buyer
  39. 39. New times, new measures The sales perspective:
  40. 40. > > The Customer Journey © Creuna discover Find compare Like Love search decision investigate use share Trust advocate get support Purchase/ Desired action
  41. 41. > > © Creuna discover FIND compare Like Love search decision investigate use share Trust advocate get support Purchase/ Desired action
  42. 42. © Creuna A VELUX Customer Journey
  43. 43. VELUX iPad application – a mobile tool belt for VELUX installers. Challenge Support craftsmen in the sales process and help them service customers digitally. Solution The VELUX Installer app for iPad contains everything a craftsman could ask for: Information, features and intelligent calculations. Through videos and pictures, customers can see what lighting difference the roofing windows will make in their rooms. In addition, the app contains a digital version of all VELUX’s brochures and product information. Results A higher degree of quality in the craftsmanship and service level creates increased customer loyalty.
  44. 44. The goal of the app is to inspire end users by visualising VELUX unique selling points Uses augmented reality to visualise how VELUX windows would change the light in the user own home Find nearst dealer, see pictures and videos Experience App
  45. 45. © Creuna Maersk Line and the Baltic Sea http://jonathanwichmann.com/2013/10/07/how-to-generate-leads-in-b2b-social-media/
  46. 46. A Layered Approach to B2B Social Media Marketing © Creuna http://jonathanwichmann.com/2013/10/07/how-to-generate-leads-in-b2b-social-media/ Hot lead Social Media Article Download brochure
  47. 47. © Creuna Strategy Attract visitors to web site Nurture leads with relevant content Generate warm leads Fisher Tank Company Inbound Marketing Strategy http://www.weidert.com/whole_brain_marketing_blog/bid/118737/inbound-marketing-for-specialty-manufacturers-a-case-study
  48. 48. © Creuna Success Highlights 12 weeks after launching inbound marketing Overall web traffic 119% increase Organic (unpaid) search traffic 70% increase Traffic from social media 4,800% increase Lead conversions 3,900% increase Page 1 keyword rankings 600% increase Quote requests 500% increase Value of new qualified opportunities in the pipeline as result of the inbound efforts $3.4 million http://www.weidert.com/whole_brain_marketing_blog/bid/118737/inbound-marketing-for-specialty-manufacturers-a-case-study
  49. 49. © Creuna https://econsultancy.com/blog/63137-three-inspiring-b2b-marketing-case-studies
  50. 50. © Creuna https://econsultancy.com/blog/63137-three-inspiring-b2b-marketing-case-studies
  51. 51. > > © Creuna discover Find compare Like Love search decision investigate use share Trust advocate get support Purchase/ Desired action
  52. 52. © Creuna
  53. 53. © Creuna
  54. 54. © Creuna
  55. 55. © Creuna > > discover Find compare LIKE LOVE search decision investigate use share Trust advocate get support Purchase/ Desired action
  56. 56. The Loyalty Constant “For Maersk Line a 4 point improvement in NPS resulted in 1% increase in cargo volume shipped by customers.” http://www.beyondphilosophy.com/wp-content/uploads/default/files/users/Maersk%20Line%20Case%20Study%20-%2040%20improvement%20in%20Net%20Promoter%20v%201.pdf
  57. 57. VestasOnline Digital services as loyalty enabler
  58. 58. We have the turbines We have the clients We have the real-time (big) data We have the internal tools and calculations We don’t have the customer-facing services VestasOnline © Creuna
  59. 59. VestasOnline: The Vision VestasOnline is an app store created by Vestas. The apps are created by Vestas’ domain experts to allow customers to efficiently retrieve, visualize and analyze information about their assets anytime, anywhere to maximize ROI.
  60. 60. VestasOnline: The Product © Creuna
  61. 61. © Creuna atwo-digitmillioninvestment +break-evenineightmonths +loyaltyenabler
  62. 62. Takeaways
  63. 63. © Creuna Four major trends Cases The modern B2B buyer Empowered Digital Collaborative Demanding Human Speedofchange Connectivitity Bigdata Transparency Find Like Love
  64. 64. © Creuna embraceomni-channel +berelevantandaccessible +collaboratecloser +engagethroughouttheecosystem Recommendations
  65. 65. tak :) Kristoffer Okkels, Digital Business Consultant Lars Elkjær Andersen, Director, Clients & Sales, Aarhus kristoffer.okkels@creuna.dk lars.andersen@creuna.dk +45 22 49 83 39 +45 22 49 83 44

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