Content Marketing Software RFP: A Framework to Determine Marketer Needs & Solicit Proposals
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Against a backdrop of hundreds of content marketing vendors, with new ones emerging all the time, brands are challenged to articulate their content marketing needs. This makes creating an RFP and asking the right questions both of internal stakeholders as well as vendors incredibly difficult from the start. In this 45-minute webinar, analyst Rebecca Lieb shares best practices for your content marketing software selection process, including her research on the content marketing software landscape. Watch the webinar on-demand at: http://www.slideshare.net/Altimeter/webinar-content-marketing-software-rfp-by-altimeter-group Download our Content Marketing Software RFP template at: www.altimetergroup.com/content-marketing-software-rfp.
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Content Marketing Software RFP: A Framework to Determine Marketer Needs & Solicit Proposals
- 1. Webinar Content Marketing Software RFP: A Framework to Determine Marketer Needs & Solicit Proposals Rebecca Lieb, Industry Analyst Jessica Groopman, Sr. Researcher September 11, 2014 #ContentRFP
- 2. Welcome Turn on computer audio. Today’s hashtag: #ContentRFP Use the Readytalk control panel to submit questions at any time Slides and this recording will be emailed to you after the webinar. Rebecca Lieb Industry Analyst @lieblink Jessica Groopman Senior Researcher @jessgroopman
- 3. Growing channel and media complexity + increasing adoption of content marketing
- 4. This has created a complex, disparate content marketing software ecosystem
- 7. Investment & Acquisition Have Not Yet Peaked
- 8. Bigger doesn’t mean better– and vice versa
- 9. Content Marketing Vendors Most Frequently Cited as Competitive Altimeter Group asked all Content Marketing Vendors surveyed to list their top three competitors. These 10 vendors received the highest number of mentions. The size of the cloud correlates with the total number of mentions for that vendor. Source: Altimeter Group Content Marketing Survey Q2 2014 Base: n=80
- 10. Agenda ∙ Welcome ∙ Why a Content Marketing RFP? ∙ Seven Steps of Content Marketing Software Selection ∙ Best Practices ∙ Altimeter’s Content Marketing Software RFP Template
- 11. Why a Content Marketing RFP?
- 12. Content Marketing is relatively new… And therefore, poorly understood
- 13. Content is also bigger than any single department
- 14. Tangled and Emerging Vendor Landscape adds to the complexity • Solution proliferation • The landscape is bifurcated • Content marketing evolution is driving consolidation
- 15. RESULT Brands cannot yet clearly articulate their content marketing needs to the hundreds of content marketing vendors competing for their business, with new vendors emerging all the time.
- 16. Content Marketing presents specific challenges to the typical RFP process
- 17. Buyers’ Needs Don’t Match Planned Investments
- 18. Altimeter’s Content Marketing Software RFP Template
- 19. The goal of any RFP is to bring structure to the procurement process.
- 21. The RFP Template reflects the two parts of our recommended process: Conduct an internal assessment of use cases and requirements by asking key stakeholders about their needs and priorities. Create an RFP to be used externally with vendors based on these needs. It should include an RFP Background (completed by the marketer) and an RFP Vendor Response sheet. Finally, combine vendor responses to cross reference.
- 22. Access the full template here: http://bit.ly/CMVRFPW
- 23. The Seven Steps of Content Marketing Software Selection
- 25. Step 1: Determine Goals & Provide Background ∙ Align the organizational and RFP process ∙ Create a brief including: Project goals & Objectives Deployment approach Competitive landscape Implementation timeline
- 26. Reference RFP tab “Stakeholder Feedback” Once developed, add the goals and any additional background to the “Stakeholder Once developed, add the goals and any additional background to the “Stakeholder Feedback” tab, which you will use to solicit feedback from key stakeholders. Feedback” tab, which you will use to solicit feedback from key stakeholders.
- 27. Step 2: Determine & Prioritize Content Marketing Use Cases ∙ Reduce the complexity of your internal and external evaluation process ∙ Determine priority use cases and sub-category features
- 29. Reference RFP Tab “Stakeholder Feedback” In the “Stakeholder Feedback” tab of the RFP Template, you have the option of including all or just some of the use cases, asking stakeholders to rate how important each area is to help determine prioritization for the organization. In the “Stakeholder Feedback” tab of the RFP Template, you have the option of including all or just some of the use cases, asking stakeholders to rate how important each area is to help determine prioritization for the organization.
- 30. Step 3: Gather Cross-Functional Requirements ∙ Identify stakeholders and end users across multiple functions and workflows ∙ Solicit the following: Requirements Input, pain points, needs Collaboration Facilitate a sense of ownership, adoption
- 31. Reference RFP tab “Consolidated Stakeholder Feedback” Circulate the “Stakeholder Feedback” tab, then aggregate all stakeholders’ responses in the “Consolidated Feedback” tab so that it’s in one place and easy to review. Circulate the “Stakeholder Feedback” tab, then aggregate all stakeholders’ responses in the “Consolidated Feedback” tab so that it’s in one place and easy to review.
- 32. 40% of the content marketers we surveyed report that the lack of inter-departmental coordination is leading to disparate tools used.
- 35. “We did a series of workshops with the content creators and manipulators… So much came down to workflow, particularly around transparency and the ability to understand what’s happening with content at any given point.” — Meg Walsh, Senior Director of Digital Strategy & Distribution at Marriott International
- 36. Step 4: Plan for Integration & Evolution ∙ Consider converged media and content stack evolution when planning for integrations ∙ Identifying integration priorities can help shortlist prospective vendors o Integration with Marketing Systems o Integration with Enterprise Systems o Future Integrations
- 37. Consider the organization’s IT roadmap, external forces, emerging technology platforms, changing capabilities, and device types. Integration requirements with other marketing systems are critical and typically comprise the most immediate integration needs. Depending on organizational needs, enterprise system integration may be an immediate or a longer-term priority.
- 39. Content Marketing Needs Checklist
- 40. Chart integration requirements in the “Stakeholder Feedback” and “Vendor Response” tabs It’s worth noting that steps 3 & 4 are often conducted in tandem; cross- functional requirements help build out integration needs It’s worth noting that steps 3 & 4 are often conducted in tandem; cross- functional requirements help build out integration needs unforeseen by marketing unforeseen by marketing functions. functions.
- 41. Step 5: Create RFP Background & Vendor Response Documents ∙ Build as realistic and complete a picture of current and future needs Strategy Business objectives Program needs Use cases & subcategory features Current tools Integration needs DM timeline Evaluation criteria Budget information
- 42. Reference “RFP Background” & “Vendor Response” tabs for RFP submission The RFP Background sheet provides details about the strategy and approach to content marketing. The RFP Vendor Response sheet contains specific requirements and questions o be answered by identified vendors
- 43. Step 6: Identify & Prioritize Vendors ∙ Having gathered requirements & background, submit RFPs to selected vendors Match vendor priorities (see Appendix) with your organization’s use cases ∙ Consider multiple point solutions in addition (or instead of) full suite providers
- 44. Reference our Vendor Matrix to assess Individual Vendor Strengths
- 45. Step 7: Gather & Compare Responses ∙ Compare options & create a shortlist. ∙ Follow up with all vendors with your feedback. You want to work with them in the future
- 46. Reference the “Combined Vendor Responses” tab
- 47. Content Tool Best Practices
- 48. Content Tool Best Practices ∙ Train staff ∙ Avoid redundancies ∙ Build for speed ∙ Consider IT support (or lack thereof) ∙ Scale towards the future
- 49. I. Train staff ∙ Educate staff on content strategy, and train to leverage tools 24% of the marketers we surveyed say employees are formally trained and empowered to publish on behalf of the brand.
- 50. II. Avoid redundancies ∙ Eliminate redundant toolsets with overlapping secondary or tertiary features ∙ Integration helps drive “one version of the truth” vs. “multiple realities that don’t align when viewed in aggregate.”
- 51. III. Build for speed ∙ Real-time Marketing requirements require speedy deployment ∙ Rapid personalization, delivery, and the ability to build content based on buzz are primary considerations • Speedy implementation, set-up, training, and ease of use are key to adoption
- 52. IV. Consider IT support (or lack thereof) ∙ Assess the level of support needed for software implementation and ongoing support ∙ Many solutions today bypass IT for day-to-day publishing needs
- 53. V. Scale towards the future ∙ Monitor emerging technologies and potential integration needs ∙ Mobile ∙ Real-time marketing ∙ Localization in international markets ∙ Native advertising ∙ Sensors, beacons, etc. ∙ Adopt a test and learn approach
- 54. Q uestions?
- 55. Thank You Rebecca Lieb Industry Analyst @lieblink Jessica Groopman Senior Researcher @jessgroopman Altimeter Group provides research and advisory for companies challenged by business disruptions, enabling them to pursue new opportunities and business models. Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty eXpressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions eXpressed herein are subject to change without notice.
Editor's Notes
- Content Stacks are Emerging
- http://image.slidesharecdn.com/contentmarketinglumascape2-140211130414-phpapp01/95/slide-1-638.jpg?cb=1398695503
- Sections of CMV Webinar Trends Driving Market Complexity Media Convergence is Driving Content Stack Evolution Technology Decisions Must Begin with Use Cases Content Tool Best Practices The Vendor Landscape
- Content must be executed correctly for it to be effective across the marketing ecosystem, as well as across the broader enterprise. Yet content marketing in digital channels is relatively new and therefore poorly understood. It also requires that marketers look around the corner to what the future will bring. In addition, content is bigger than one department. It spans multiple functional groups within and outside of marketing, including CRM, IT, HR, and knowledge management. As a result, brands cannot yet clearly articulate their content marketing needs to the hundreds of content marketing vendors competing for their business, with new vendors emerging all the time.
- Creating a request for proposal (RFP) and asking the right questions of both internal stakeholders and vendors, then, is incredibly difficult from the start. Nor can brands rely entirely on IT for purchasing content solutions, as it is even less familiar with these requirements than marketing is and is typically far removed from the scoping and selection process.
- Establishing content governance, processes, strategy, and interdepartmental coordination Matching content software needs to planned investments Finding solutions that scale toward the future (e.g. new technologies, vendor partners, channels) Scoping software integration requirements, both with other marketing software and often with enterprise softwarepackages such as CRM or customer data Accommodating existing workflows and processes Winnowing down a vendor shortlist, based in who best meets requirements
- The goal of any RFP is to bring structure to the procurement process
- Because content marketing is still nascent, this initial step helps align the organization with the RFP process. Write a brief that includes project goals/ objectives of the project, your initial deployment approach, the competitive landscape (if relevant), and an implementation timeline. For example, one goal could be to streamline content creation throughout marketing to reduce duplicated efforts. Or you may want to syndicate existing content across multiple websites and use analytics to optimize content for greater visibility. A thorough brief also helps the software vendors understand goals, targets, and unique challenges
- The next step is to determine which use cases apply to your project. The template reflects the The Content Marketing Software Landscape: Marketer Needs and Vendor Solutions, which explains how to identify containing numerous subcategories and integration considerations (see Figure 2).1 A key part of your RFP process is determining which use cases and subcategory features are most important to your organization. Very rarely does an RFP address all eight use cases; you can reduce the complexity of your process by selecting from the start only those use cases that most apply use cases, look at the subcategories within each use case and assess which needs apply to your organization. In the “Stakeholder Feedback” tab of the RFP Template, you have the option of including all or just some of the use cases, asking stakeholders to rate how important each area is to help determine prioritization for the organization.
- Now that you have the broad outlines of your org’s content needs, identify stakeholders and end users and solicit them for their requirements, input, and collaboration by circulating the “Stakeholder Feedback” tab of the RFP Template. It's important to gather requirements across teams, both cross-functionally and across workflows. Some brands actually submit mini internal RFPs or surveys to and feature requests. Not only does this step help identify needs you may have overlooked, but collaboration also creates a sense of ownership and facilitates end-user adoption, especially when compared to having tools foisted upon the teams that will have to use them. Gather all of the stakeholders’ responses in the “Consolidated Feedback” tab so that it’s in one place and easy to review. It’s worth noting that steps 3 & 4 are often conducted in tandem; cross- functional requirements help build out integration needs unforeseen by marketing functions.
- Integration considerations are essential because of the consolidation driven by converged media, as well as the evolution of content stacks, end-to-end content marketing solutions akin to ad stacks. Each content marketing use case comes with a host of potential integration issues. Identifying essential marketing software integration considerations are tripartite: It's important to gather requirements across teams, both cross-functionally and across workflows. Some brands actually submit mini internal RFPs or surveys to gather input on needs, pain points, and feature requests. Not only does this step help identify needs you may have overlooked, but collaboration also creates a sense of ownership and facilitates end-user adoption, especially when compared to having tools foisted upon the teams that will have to use them. Gather all of the in tandem; cross-functional requirements help build out integration needs unforeseen by marketing functions.
- Integration with Marketing Systems: This includes legacy and existing marketing-related systems, such as CRM, social listening tools, content management systems (CMS), digital asset management (DAM) solutions, marketing automation, and so on. Integration requirements with other marketing systems are critical and typically comprise the most immediate integration needs when implementing new content marketing software. Integration with Enterprise Systems: This includes legacy and existing enterprise systems that support or could support content marketing processes (e.g., management, workflow, analytics, etc.). Examples include internal communications platforms, corporate intelligence, and internal collaboration networks. Depending on organizational needs, enterprise system integration may be an immediate or a longer-term priority. Future Integrations: While future will hold very different definitions for different organizations, remember to consider how the business and IT roadmap will impact integration needs down the road. Also consider external forces, emerging technology platforms, changing capabilities, and device types.
- Once a solid understanding of use cases and integration needs is reached, marketers can employ the following checklist to help prioritize those needs for vendor selection. Rank use cases in order of priority, maintaining focus on the top three to five most important use cases.
- It’s worth noting that steps 3 & 4 are often conducted in tandem; cross- functional requirements help build out integration needs unforeseen by marketing functions.
- The goal of any RFP is to bring structure to the procurement process. Each step outlined above provides you with the requirements needed to build as realistic and complete a picture of your current and future needs. Framing good questions around strategies, needs, and business objectives results in better answers from vendors, especially when an industry sector is new, crowded, diverse, and inconsistent and is undergoing rapid change and upheaval. The Background also provides company and background information, current tools, and integration needs, enabling vendors to respond to the bigger picture. You should also include the decision-making timeline and any evaluation criteria or budget information that you would like to share. Clearly outline out all requirements as they apply to each use case (feel free to edit out those that are not relevant). Pay special attention to integration requirements, from both the internal stakeholder input and the RFP appendix, which contains a more detailed list of the types of integrations most common in content marketing technology. Two sheets in the RFP Template can help with this process: The RFP Background sheet provides details about the strategy and approach to content marketing. The RFP Vendor Response sheet contains specific requirements and questions o be answered by identified vendors
- Having prioritized use cases and integration requirements, you now must figure out which vendors can satisfy the requirements of those use cases. Altimeter requested information from 110 content marketing vendors, and 53 provided responses to our extensive survey. Each vendor was not only asked which use cases their platform supports but also asked to force rank the use cases they support best. The results are summarized in the appendix of The Content Marketing Software Landscape: Marketer Needs and Vendor Solutions. Look at your own prioritized use cases developed in step 4, and see which vendors should be on your shortlist because their priorities match your own. Also consider working with multiple small vendors that provide point solutions, because they may concentrate on key use cases that are important to your content marketing organization.
- Key: This information is self-reported by the surveyed vendors who were asked to rank, in order, the top three use cases they support (1-3), as well as to indicate which other use cases their solution addresses with a solid circle (). If a vendor does not report supporting a use case, it is designated with a hollow circle ( o ).
- With your responses in hand, you can begin to compare your options. Consolidate and review all responses to the RFP in the “Consolidated Vendor Response" tab of the RFP Template. At the end of the process, follow up with all of the vendors and provide feedback to those not selected, because you may want to work with them in the future. The information gathered can provide you with pointed feedback and documentation.
- Marketers often invest in a tool for its primary feature without realizing that there are secondary or tertiary features that they then buy elsewhere Related to this is integration driving “one version of the truth” vs. “multiple realities that don’t align when viewed in aggregate.”
- Foremost among marketers’ planned investment in content marketing software are tools to aid in the rapid creation and deployment of content, particularly for those utilizing various forms of real-time marketing. Marketers are prioritizing agile deployment to drive real-time marketing capabilities. The Altimeter Group Report Real-Time Marketing: The Agility to Leverage Now is available at http://www.slideshare.net/Altimeter/report-realtime-marketing-the-agility-to-leverage-now-by-rebecca-lieb-jessica-groopman.