Blowing Up The Funnel
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The document discusses how demand generation strategies are evolving from traditional funnel-based approaches to more customer-centric strategies. It outlines four emerging customer-centric strategies: account-based marketing, concierge selling, analytics-driven engagement, and loyalty-first marketing. These new approaches focus on understanding customers throughout their journey, emphasizing collaboration between marketing and sales teams. The document argues that demand generation must adapt activities to individual customers rather than forcing customers to conform to predefined processes like traditional funnel models.
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Blowing Up The Funnel
- 1. #B2BMX Blowing Up the Funnel: How New Approaches to Demand Gen Will Reshape Tomorrow's Revenue Pipeline
- 2. #B2BMX How the Funnel Got it’s Shape @kathleenschaub
- 6. #B2BMX Tiny bottom as few opportunities close5 Source: IDC 2017 Chokepoint where marketing & sales silos collide4 Unidirectional flow assumes leads die forever3 Filtering out prospects makes it more narrow2 Wide Top as many suspects enter1 Obsolete Tactics Create the Distinctive Funnel Shape
- 7. #B2BMX Buyers Increasingly Ready to Switch Q) How willing are you to switch vendors, even if you like their solution, if you are dissatisfied with the vendor's marketing and sales? 1 =Not at all willing and 5 = Very willing. % of Respondents Selecting Level 4 or 5 Willingness Source: IDC 2016 IT Buyer Experience Study Millennial Buyers Gen X Buyers Baby Boomer Buyers
- 10. #B2BMX Hello, Customer Centricity! Creation Loop Loyalty Loop IDC’s Customer Experience Loop 38% How much more of the customer creation budget (Marketing+ Sales) given to Marketers in tech companies that have implemented a Buyer’s Journey model. Source: IDC’s 2016 Tech Marketing Benchmarks Study
- 11. #B2BMX 4 Customer-centric Demand Strategies that Blow Up the Funnel Account-based Marketing Concierge Selling Analytics-driven Engagement Loyalty-first Marketing Source: IDC 2017
- 12. #B2BMX ▪ Shared Mission: Clear, compelling, purpose ▪ Orchestrated Collaboration: Specialization – yes; Silo’s – no ▪ User- Centric Focus: Adapt activities to customers, not the other way around ▪ High Information: Reveal, prioritize, react ▪ Guided, Incremental, Process: “Do-Confirm-Adapt” Attributes of Customer-centric Demand Strategies Source: IDC 2017
- 13. #B2BMX Customer-Centric Demand Generation Strategy: Account-based Marketing Organizes demand efforts around specific accounts Most Useful in These Situations Buying Cycle Time Long Solution Cost High Solution Complexity High Sales Model Account-based Source: IDC 2017
- 14. #B2BMX Customer-Centric Demand Generation Strategy: Concierge Selling Most Useful in These Situations Buying Cycle Time Medium Solution Cost Medium Solution Complexity Medium-High Sales Model Inside Sales or Territory-based Personalized, anticipatory, buying services offered by a “concierge” enabled with extreme automation, contextual insights and pitch perfect content. Source: IDC 2017
- 15. #B2BMX Customer-Centric Demand Generation Strategy: Advanced Analytics Engagement Most Useful in These Situations Buying Cycle Time Medium-Short Solution Cost Medium-Low Solution Complexity Medium-Low Sales Model Inside, Territory or eCommerce Use of advanced analytics to discover high propensity prospects, sense & respond to their behavior in order to progress them through their decision journey Source: IDC 2017
- 16. #B2BMX Customer-Centric Demand Generation Strategy: Loyalty-First Marketing Most Useful in These Situations Buying Cycle Time Any Solution Cost Any Solution Complexity Any Sales Model Any First build community engagement and shared purpose; then develop solutions to monetize relationships Source: IDC 2017
- 18. #B2BMX Build Modern Marketing Competencies Sales & Channel Enablement Customer Intelligence & Analytics Integrated Digital & Social Engagement Loyalty & Advocacy Content Marketing CUSTOMER-CENTRIC STRATEGIES Account-based Marketing Concierge Selling Analytics – Driven Engagement Loyalty – First Marketing Source: IDC 2017
- 19. #B2BMX The Customer Centric Marketing Organization TRADITIONAL SILOED MARKETING EVOLVES IN TO CONNECTED CUSTOMER ENGAGEMENTS Email Web Ads Search Social Connected Data Connected Content Connected Channels Unique Content Unique Content Unique Content Unique Content Unique Database Unique Database Unique Database Unique Database Single Channel Single Channel Single Channel Single Channel Email Web Ads Search Social Unique Content Unique Database Single Channel Source: IDC 2017
- 20. #B2BMX ▪ Shared Mission: Set “Big Picture” objectives – revenue and customer experience metrics ▪ Orchestrated Collaboration: Automate work “modules” that bridge silos ▪ User- Centric Focus: Serve the only customer there is – the external customer ▪ High Information: Exchange insight-level information, not raw data ▪ Guided, Incremental, Process: Test and adapt everything Marketing + Sales Information Alliance Source: IDC 2017
- 21. #B2BMX Kathleen Schaub Vice President, IDC CMO Advisory Service kschaub@idc.com 925-999-9839 @kathleenschaub
- 23. #B2BMX