In today’s mobile, social, digital world, of all, there is lots of noise out there - buyers are being bombarded by more than 2900 messages per day; they can recognize about 50 and remember maybe four. And coupled with that, buyers have lower and lower attention spans for any message.
This combination makes it real challenging for every one of you here to stay above the noise and be relevant.
But this noise has also created a world of information abundance - buyers are more empowered than ever before.
Interesting fact: we now have less attention span than a goldfish.
Goldfish: 9 seconds.
Humans: 8 seconds.
But this noise has also created a world of information abundance - buyers are more empowered than ever before. And armed with this info, they are forming opinions and drawing conclusions well before they choose to interact with your brand. In fact if you look at some data points, from folks like Forrester, they say that anywhere from 66-90% of a buyers journey is self-directed before they interact with you
But we’re now at the next stage The role of marketing is expanding To envelop the whole customer experience
Oneo first tactics. Is moving from monologues to dialogue.
Sounds obvious, right? Well, on any given week, I average 45 emails that found their way to my inbox but for services I’ve never expressed any interest in
Tactics like these need to stop
Anyone in this room can easily put these tactics in place–
If you feel like you’re here on the left, actively look for technologies and opportunities to help you move to the right
Batch to triggers alone – emails go from 20% to 50% open ratesl
Metaphor is building relationships with other people Build relationships through trust, intimacy B2H
Customer experience is the accumulated whole of every interaction
Takes time – have to work at building relationships Earn trust/intimacy
Whether friendship or romantic, we all understand what this process involves
Idea is to create this relationship… across the lifecycle
After all, here’s a quote from Gartner:
80% of future revenue will come from 20% of existing customers.
Yet Global Marketing spend is only 12% of the overall marketing budget!
Marketers have historically spent over 4.5x more on Customer Acquisition… many of us shouldn’t.
Luckily that’s changing.
A great story about this change – and Marketo’s Customer Base Marketing solution: Kaspersky.Global enterprise software company.
CHALLENGE: in addition to bringing in new customers, they recognized the need to Keep them Longer and GROW lifetime value. And this becomes really important in a product subscription business.
Solution – they are using Marketo’s customer base marketing solution to deeply engage existing customers - They have created a Behavior Score to measure cross-sell opportunity and loyalty. And using Marketo to promote the right products at the right time as well as build relationships .
VALUE: Reduced Churn by 8%, average deal size of Marketing Influenced renewal opportunities is more than 111% greater than renewals not influenced by marketing.
Go back to the idea of lifecycle
Need to connect this with dialog, thoughout the journey, at scale… done digitally…
Start with Inbound marketing is great when people are searching
Great when people are coming to you
What if people aren’t searching for your content? What if a hot lead suddenly unsubscribes? What if your sales team has a target account list?
We know there are other ways to find new customers
And we’ve been working on some amazing new products to help
One exciting trend is Account Based Marketing Popular term, but not a new idea Sales has been target account selling for years<<DEFINE>>
One of the things we’ve learned over 10 years -- better outcomes happen when Marketing and Sales collaborate
Our inbound marketing products are all about building ways for marketing and sales to COLLABORATE around an inbound lead funnelCOLLABORATE around the customer
Marketing now needs to step up in the same way when target account selling is being used
Digital advertising / paid media is big business - $ 135 billion worldwide More accessible than ever before Programmatic buying Better targeting Transformed by mobile
Custom audiences from Google, Facebook, others
Introduced Ad Bridge last year
We have hundreds of customers using it with incredible SUCCESS
Integrated with most of the major players
At center of this all is DATA We track emails, mobile activity, web visits Many other things automatically
And many of our customers extend this with even more information about their customers POWER BILL? COMMERCE PURCHASES? Understand customers in new ways
Opens the door to new ways to acquire and grow your customer base
You need to START thinking about laying a fabric across your entire organization
All the places you interact with customers
A fabric that can handle a BILLION CUSTOMER EVENTSevery day
How to Build the Marketing Org of the Future
Think of the 2’T’s on how to build the marketing org of the future – Team Structure and Talent Mix
Tomorrow’s marketer needs to engage customers across channels in a unified way.
But needs to Abandon Channel Based Silos when it comes to design the org. We’ve been a victim of our own responsiveness in the past by responding to customers every time a new channel showed up.
Marketing must deploy cross-functional teams that bring together multiple skill sets to engage customers wherever they are.
We need to stop organizing around channels and organize around the customer. Think holistically about the customer’s lifecycle from Awareness to Advocacy – across channels.
To do this, you need orchestrators to connect the dots and prioritize the customer’s experience every step of the way.
Someone who can rise above the silos, understand the customer and lead everyone forward strategically.
To tear down silos, we need to think about the mix of marketing talent differently, too .
We need to move away from just specialists but also have generalists. Yes we will still have specialists for SEO, Ad spend, etc.but tomorrow’s marketer needs to be a combination of ”thinker, feeler, dooer”
“Think” aspects like strategy and data analysis and modeling. “Feel” aspects such as story-telling and experts in customer behavior “Do” aspects such as create sales content and manage projects.
Simply put, Da Vincis. And your orchestrators? They’re a new blend of all that talent, DaVincis who excel in each area and bring everything together around the customer. In fact, at Marketo, we have created a whole team called Segment Marketers who bring this Da Vinci skillset.