Demand generation best practice and the role of nurturing. 12.05.11
•Download as PPTX, PDF•
1 like•473 views
An overview of the challenges of demand generation, the changing B2B buyer, their trust issues and the need to build emotional content into campaigns. The background as to why lead nurturing has to become a fundamental backbone of modern marketing.
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Demand generation best practice and the role of nurturing. 12.05.11
Similar to Demand generation best practice and the role of nurturing. 12.05.11 (20)
More from Fox Parrack Singapour
More from Fox Parrack Singapour (8)
Recently uploaded
Recently uploaded (20)
Demand generation best practice and the role of nurturing. 12.05.11
- 1. Demand generation best practice. Engaging the few, or nurturing the many? Inside Knowledge Seminar Series 12th May 2011
- 2. Introduction David Fox, Chairman, Fox Parrack Singapour From Demand Generation to Customer Engagement. The need for change. Presentation 2Pete Jakob, Brand Manager, Marketing & Communications, IBM UK&I Bringing Science to the Art of Marketing. Coffee break Presentation 3Debbie Williams, Chair of the IDM B2B Marketing Council, Demand Generation Consultant for Vodafone Global Enterprise. Is your demand generation marketing aligned to the buyer's journey? Agenda
- 3. Europe’s longest established tech-marketing agency Worked with many of the industry’s biggest brands, such as BT, Blackberry, Cisco, Microsoft, Nortel, Novell, Oracle, Symantec, Vodafone, Xerox Deliver programmes covering: - Demand Generation and Lead Nurturing - Channel Marketing - Brand and Product Communications Integrated approach: blending digital with traditional techniques FPS is an Eloqua agency partner Founder member of n42, pan-European network of tech-focused marketing agencies Our aim: to help technology companies derive greater value from the marketing function About Fox Parrack Singapour © 2011 Fox Parrack Singapour. All rights reserved.
- 4. From Demand Generation to Customer Engagement. The need for change. David Fox, Chairman, Fox Parrack Singapour INTRODUCTION
- 5. B2B marketers’ greatest challenges SiriusDecisions
- 6. Why is demand gen so tough?
- 7. Barriers to lead generation 95% 7-12 not ready to buy touches needed to gain attention 87/100 ‘deals’ initially left behind by sales 12% 21 leads sales ready Involved in purchase decision Chartered Institute of Marketing, Marketing Sherpa, Sirius Decisions
- 8. But these are the real barriers... “Business buyers are people, not faceless companies. Rational decisions get clouded by emotions, motivations and desires.”Forrester
- 9. There’s another barrier too... “We found that, in many cases, marketers are more likely to use email tactics that are fast and easy to implement than those that are most effective.”Marketing Sherpa, 2011 Email Marketing Benchmark Reports “B2B marketers must stop pushing out communications and start listening to what buyers need.”Forrester Blog, “Will B2B marketing become obsolete?”
- 10. “Customer research, segmentation, understanding the buying process and creating relevant information that engages prospects in conversations, and ultimately long-lasting relationships, all require marketers to understand their customers deeply.”Forrester Blog, “Will B2B marketing become obsolete?” It comes down to customer insight...
- 11. The changing B2B buyer... It’s a question of empowerment!
- 13. “The hunter has become the hunted” “Buyers are more informed and seek information independent of sales. How sales people want to sell has little impact on how buyers are choosing to buy.” Roles reversed?
- 14. The buying process is not a simple logical, rational and linear process where a prospect moves neatly from one stage to the next Rather, prospects move chaotically forward, backward through the process as they balance rational decision making with the emotional impacts of fear and risk... ...fear and risk! The buying process
- 15. How much do we trust?
- 16. The Edelman Trust Barometer 2011
- 17. The Trust Barometer in retrospect
- 19. UK one of lowest trust levels of Business
- 20. Media - UK most cynical globally
- 21. And for the good news...
- 23. The Transformation of Trust
- 24. Forrester definition (2007): "the level of involvement, interaction, intimacy, and influence an individual has with a brand over time.” “Revisiting The Meaning Of "Engagement”Posted by Sean Corcoran, Forrester Research, April 12, 2011 ‘Marketing Engagement’: 47 million search entries! Metric: Marketing Engagement
- 25. Marketing Engagement REACH Involvement Interaction Intimacy Influence TARGETING ENGAGEMENT SOCIAL TRANSACTIONS
- 26. So how should we drive demand?
- 27. Email has long been established as one of the hardest working tools in the marketing toolbox Tactically, email appears to have unlimited potential especially when integrated with emerging marketing channels like social media But when multiple improvement tactics are combined, performance is acceleratedMarketingSherpa 2011 Email Marketing Benchmark Report The role of email
- 28. Email Marketing Maturity 14% 49% 37% Twice as likely to believe that email marketing is producing ROI Marketing Sherpa, 2011 Email Marketing Benchmark Report
- 29. Perception of email ROI, by maturity phase “These organisations are destined to get what they pay for.” Marketing Sherpa, 2011 Email Marketing Benchmark Report
- 30. “Targeting recipients with highly relevant content is the most significant challenge to marketing effectiveness”
- 31. Top tactics for delivering relevant content 46% 57% 43% 36% 47%
- 32. Leads versus Nurturing Short-term versus a longer-term approach
- 33. Nurturing is about having a consistent and meaningful communication with viable customers regardless of their time to purchase The key with nurturing is to influence people early, before the buying process begins, in order to create a preference, based on your position in their mind as a ‘useful source’.
- 34. Put customers at the centre of your demand generation strategy, mapping out the buyer journeys, understanding emotional needs Ensure messaging maps to their (emotional) pains and needs - avoid hype, avoid bland and avoid product pitches Develop ‘content maps’ - sufficient amounts of useful information to help guide/educate during the buying process Ensure continual measurement of prospect interaction, ideally with sensible scoring defining the high propensity contacts Only have sales engage with those ‘sales-ready’ leads, armed with the insight gleaned from their online actions (TM profiling) Think integrated & multi-channel - be where the prospect wants to be – participate in social media and don’t exclude search Think long term and long tail - it takes time to grow a relationship The principles of effective nurturing
- 35. Making it work harder
- 36. The integrated approach Search is at the heart, email is the engine, social is the accelerator. Email Marketing Search marketing Video Site Participation/ Channel Display advertising Standard Acquisition Funnel Widgets Acquisitions through referrals LinkedIn Groups Website,Blog Email newsletter 3rd Party Blogs 3rd Party Facebook pages LinkedIn Groups 3rd Party Twitter pages Company Facebook pages Social Bookmarking Company Twitter pages Analysts Influence cycle Company Blogs Publishers Leads
- 37. Then there’s ‘Behavioural Economics’ Where science really meets art! Loss Aversion The Power of Now Scarcity Value Goal Dilution Chunking Price Perception Choice Architecture The 8th IDM B2B Marketing Conference: Understanding and Engaging Customer 2.0
- 38. So where’s the proof that it works?
- 39. Case Study: Integrated Demand Gen 1 integrated campaign 14 countries 75,000 contacts
- 40. 18 months…
- 41. Campaign Pipeline – 1st 12 weeks
- 42. Campaign Pipeline in SFDC +37% av.order value +23% av.order value 10% conversion 11% conversion 15% conversion 12% conversion
- 43. Campaign Closed Revenue in SFDC Total £22m pipeline £4.85m closed 1:90/1:20 ROI $ millions
- 44. The value of nurturing... Eloqua. Study of ten B2B organisations using lead scoring systems
- 45. Thank you Any questions?
- 46. Information in your pack...
- 47. Bringing Science to the Art of Marketing Pete Jakob, IBM Brand Manager, UK & Ireland (Marketing Scientist) Presentation 2 Pete Jakob
Editor's Notes
- Good morning and thank you for joining us forthis, our latest Inside Knowledge seminarFor those of you new to our events, the aim behind the Inside Knowledge Series is to focus on the key marketing issues tech companies like you are facing today.Our objective is to provide plenty of practical ideas, not just theory.And by sharing our experiencesand other industry experts, we will hopefully bring some clarity, some insight and quite a bit of opinion to help you find some of the right answers to your particular questions.So this morning, our topic is: xxxxxx– clearly a subject that has resonated with many people judging by the response we had to this eventTo help us with this challenging subject we have 3 presentations for you today…So I’d like to thank my two fellow presenters for not only giving up their time to present here today, but for also for the work they’ve put in to produce the valuable content that they will share with you..
- Forrester’s view is that Involvement & Interaction metrics are clicks, visits, time spent and even things like downloads.But surprisingly Sean Corcoran actually describes these metrics as an indication of “failed marketing campaigns”.I certainly don’t agree with this definition – they are purely indicators of heightened interest and should be seen as part of that ‘buying journey’ – an early part of the “learning” phase, for sure BUT certainly NOT failures!!!!However I do agree that there’s more to measure, and this is where Intimacy & Influence are interesting – these represent what they call the “impact” of getting a customer’s attention.Forrester's definition:"Intimacy" represents the qualitative data like brand awareness, brand favourability, and sentiment And "influence" represents their propensity to share it through word of mouth (e.g., share rate, Net Promoter Score)At FPS, we use something different – our 5 POINT METRIC systemsREACH measures absolutes – the size of our audience that we can and need to touch - and it’s here that inbound tactics such as Search and Social Media can really helpTARGETING – is obvious, who within our audience is the priority or demonstrates the higher propensity to buy or influenceENGAGEMENT – this is where we have overlap with Forester. This definitely includes Involvement & Interactions and it does reveal Intimacy because the measure includes two way actions, i.e. They share with us – information on themselves, what they’re looking for, etcSOCIAL – this maps quite closely to F’s Influence. We measure when they share “us” & our “remarkable” content with their peers and colleagues TRANSACTIONS – not just sales but other actions such as registrations to events, webinar, downloads and even inbound calls
- The key with nurturing is to influence people early, before the buying process begins, in order to create a preference, based on your position in their mind as a ‘useful source’ for advice, answers and, eventually, solutions.
- Funnel Taxonomy: Follows the buyer’s journeyTOP: Inbound activity – thro Search, email, ads driving interactions & involvementLEFT: Influence activity –using our content, such as Social Objects (white papers, widgets, etc) OUT to our social networks – LinkedIn, Twitter, Blogs, etcRIGHT: Referral activity – other people’s conversations about us – Media influencers such as bloggers, also Analysts, Publishers, so driving interest IN to us