Mardevdm2 hidden value_of_your_b2_b_marketing_budget_mediapro_01nov2011

Mardevdm2 hidden value_of_your_b2_b_marketing_budget_mediapro_01nov2011

• 1.
  The hidden valueof the marketing budget Presented by: Liz Woodbridge Account Director @mardevdm2
• 2.
  marketing objectives &options Objectives – What? Increase revenues – build relationships that create an increase in demand for more products/services Example: nurturing programs based on customer needs Increase speed – accelerate the consideration process by getting the right information at the right time to the buyers Example: behaviour-based auto-responders Options – How? Increase conversion – optimise CTAs to get more buyers to raise their hands Example: landing page testing and optimisation Increase efficiency – leverage and scale integrated marketing communications to maximise ROI Example: communication templates for re-use or p p promotion of campaigns via additional low cost channels
• 3.
  where the strategicbudget goes Marketing objectives that th t commandd budgets Top 3 priorities demand generation product marketing marketing operations Source: Forrester Research Inc
• 4.
  where the tacticalbudget goes Website Design Management | Optimisation 69% 5% 25% Social Media 69% 4% 27% Marketing tactics Virtual Events | Webinars 60% 6% 34% that get more/less SEO 60% 5% 35% B2B budget Email Marketing 59% 6% 35% increasing investment Paid Search 49% 11% 40% decreasing investment Public Relations 40% 11% 50% no charge Telemarketing 32% 13% 54% Direct Mail 24% 28% 48% Tradeshows 22% 30% 48% Print Advertising 15% 39% 47% Source: MarketingSherpa B2B Marketing Benchmark Survey
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  measuring ROI instages Attraction Conversion Life-time Retention Value How much What is your What does it cost to conversion How many percent age attract each from visitor to transactions of your opt-ins new visitor or opt-in? does the become paying prospect? average customers? customer make over time? At what value?
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  challenges measuring ROI Manymarketers do not build metrics in from the start: 62% of marketers struggle with “turning data into action 57% say their top bottleneck is measurement, analysis, and learning 53% of marketers use social media marketing but find it difficult to measure the value 44% of marketers are using mobile apps and are just starting to integrate with email Source: 2011 Unica Marketing Survey
• 7.
  the role ofdemand generation in ROI Demand generation is critical for B2B marketers who need to get most value from their marketing budget customer profiling – what does your customer look like? database segmentation – start simple, group contact data by a common set of criteria automated/triggered campaigns – test and see what works, nurture active customers outbound promotions – target the same characteristics and behaviours as your test responders lead scoring – assign a score to each action that a prospect takes economic impact – given the current economy, the marketing team needs to accomplish all of the above in a measured and cost-effective manner
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  strategic campaign workflow pass to field sales microsite whitepapers case studies competitions lead blogs forums scoring webinars podcasts RFQ pass to tele sales tracking and scoring monitor level of interest based on: email opens; visits to microsite ; downloads; reading/posting on Blogs
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  lead generation: tactical ROI-based Campaign Objectives reporting lead definition & qualification whitepaper download, appointment target audience leads company size, business sector, job title email resource optimisation Channel Selection email, digital, telemarketing Collateral Creation online nurture case study, whitepapers, y webinars Analyse, Optimise and Adapt increase what’s working – adapt or switch off what’s not tele Deliverables marketing prospects volumes, timescales, CPL reporting
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  multi-touch: microsite driven
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  multi-touch: microsite driven
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  customer retention/development Who? leads not ready to buy customers for upsell/cross-sell trial/pilot customers, etc. Marketing challenges/pain points: leads t l d not qualified b i id or fi ld sales lifi d by inside field l old/dormant leads sitting in CRM lack of a method to prioritize no structure to nurture to “sales readiness” Bottom line wasted investments in lead generation decreased marketing department credibility “We’re changing our sales plan.  decreased sales productivity From now on, instead of trying  to get lots of customers, we’re going to find just one really,  What? really rich person to buy a whole lot of stuff. segmentation personalisation relevant call-to-actions
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  improve ROI withlead scoring Lead scoring and nurturing improve ROI Objectives: improve conversion to qualified leads improve quality of leads prioritise follow-up follow up harvest dormant leads and re-engage helps measure channel effectiveness “We felt that this way, at least your bonus would  reflect some element of personal skill.”
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  strategic nurturing objectives Lead/customer nurture strategy: Build trust within your customers and prospects Educate them: who are you? what does the company do? how does it benefit them? Establish credibility as experts Be relevant to the issues/pain points of your different segments All of the above will help you differentiate your organization as a partner to the prospect as opposed to a vendor
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  lead nurture: rulesof engagement 1. do not initiate contact without a clear objective 2. 2 start with the customer not with your customer, product/service 3. pick-up where the interaction left-off p p 4. don’t ask the prospect for the same thing more than once 5. make the interaction personal and personalised 6. 6 deliver information that reflects what you’ve you ve learned about them 7. learn about the customers/prospects in bits p p ... not all at once Source : Peppers, D., Rogers, M., One to One Fieldbook, 1999
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  defining your leadnurturing program 1. 1 define your objective 2. define the WHO 3. define collateral needed Touch point: emails | postcards phone scripts | letter Content assets: white papers | webinars analyst reports | podcasts articles | flash demo research papers Interactive media: poll | survey scorecard | rank yourself 4. map ou the cus o e e pe e ce ap out e customer experience 5. test and launch 6. ongoing evaluation and monitor 7. keep content fresh
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  dynamic lead scoringmodel Score on profile fit and level of engagement Profile Fit Level of Engagement A = Target fit (BANT qualified) 1 = Showing buyer interest B = Potential fit (nurture) 2 = Showing some interest C = N t hi h enough now Not high h 3 = N t enough i f Not h information ti D = Not a fit 4 = Inactive Don’t D ’t send unqualified l d t sales… nurture d lifi d leads to l t Nurturing programs generate on average: 7-10% increase in marketing qualified lead (MQL) generation > 50% acceptance from sales (SAL) “Marketing dashboards help address one key tenet Marketing of marketing accountability – the transparent communication of results.” Forrester Research
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  lead scoring andnurturing: best practices Best practices: KISS – do not score on too many criteria as it will be unclear what values are defining the score sales and marketing SLA with protocol around MQL to SQL, follow-up, etc. focus on scoring criteria that has standardized values this will facilitate values, program execution and ease refinement, as needed continuously re-evaluate and tweak the re evaluate scoring system conduct a closed-deal analysis to uncover insights into conversions
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  measure what matters Measurewhat matters for your business Funnel value on track to meet revenue targets? how much revenue from each source? what is th quality of th pipeline? h t i the lit f the i li ? Channel performance top t campaigns b l d acceptance i by lead t top campaigns by number of high scoring leads Investment effectiveness I t t ff ti which campaigns yield the best returns?
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  marketing performance benchmarks Performance benchmarks track improvement over time against KPIs prioritise & launch enhancements based on business objectives monitor demand generation process and measure its impact to revenues “It has come to my attention that you are taking  performance enhancing drugs. Keep up the good work.”
• 21.
  thank you Liz Woodbridge Account Director t: 020 8652 4515 e: liz.woodbridge@mardevdm2.com @lizwoodbridge Join Us: @mardevdm2