Demand generation best practice and the role of nurturing. 12.05.11

© Copyright Fox Parrack Singapour 2011. All rights reserved.

Demand generation best practice. Engaging the few,

or nurturing the many?

Inside Knowledge Seminar Series12th May 2011

© Copyright Fox Parrack Singapour 2011. All rights reserved. Inside Knowledge Seminar Series 2011

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


• 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.


From Demand Generation to Customer Engagement. The need for change.David Fox, Chairman, Fox Parrack Singapour

INTRODUCTION


Lead Generation; 52%

Market Definition; 20%

Marketing Comms, 12%

Sales Process; 10%

Hiring; 4% Product Marketing; 2%

B2B marketers’ greatest challenges

SiriusDecisions


Why is demand gen so tough?


Barriers to lead generation

12%leads sales ready

95%

not ready to buy

7-12touches needed to gain attention

87/100

‘deals’ initially left behind by sales

Chartered Institute of Marketing, Marketing Sherpa, Sirius Decisions21Involved in purchase decision


But these are the real barriers...

“Business buyers are people, not faceless companies.

Rational decisions get clouded by emotions, motivations and desires.”

Forrester


There’s another barrier too...

“B2B marketers must stop pushing out communications and start listening to what buyers need.”Forrester Blog, “Will B2B marketing become obsolete?”

“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


“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...


The changing B2B buyer...It’s a question of empowerment!


The empowered consumer...


“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?


• 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


How much do we trust?


The Edelman Trust Barometer 2011


The Trust Barometer in retrospect


Trust protects reputation


UK one of lowest trust levels of Business


Media - UK most cynical globally


And for the good news...


Although the UK...


The Transformation of Trust


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


Involvement

Interaction

Intimacy

Influence

Marketing Engagement

REACH

TARGETING

ENGAGEMENT

SOCIAL

TRANSACTIONS


So how should we drive demand?


• 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 accelerated MarketingSherpa 2011 Email Marketing Benchmark Report

The role of email


Email Marketing Maturity

Twice as likely to believe that email

marketing is producing ROI

Marketing Sherpa, 2011 Email Marketing Benchmark Report

14% 49% 37%


Perception of email ROI, by maturity phase

“These organisations are destined to get what they pay for.”

Marketing Sherpa, 2011 Email Marketing Benchmark Report


“Targeting recipients with highly relevant content

is the most significant challenge to marketing effectiveness”


Top tactics for delivering relevant content

46%

57%

43%36%47%


Leads versus NurturingShort-term versus a longer-term approach


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’.


1. Put customers at the centre of your demand generation strategy, mapping out the buyer journeys, understanding emotional needs

2. Ensure messaging maps to their (emotional) pains and needs - avoid hype, avoid bland and avoid product pitches

3. Develop ‘content maps’ - sufficient amounts of useful information to help guide/educate during the buying process

4. Ensure continual measurement of prospect interaction, ideally with sensible scoring defining the high propensity contacts

5. Only have sales engage with those ‘sales-ready’ leads, armed with the insight gleaned from their online actions (TM profiling)

6. Think integrated & multi-channel - be where the prospect wants to be – participate in social media and don’t exclude search

7. Think long term and long tail - it takes time to grow a relationship

The principles of effective nurturing


Making it work harder


The integrated approach

Email Marketing

Video Site Participation/Channel

Search marketing

Display advertising

Influence cycle

Acquisitions through referrals

Leads

Search is at the heart, email is the engine, social is the accelerator.

Company Facebook pages

Company Twitter pages

Company Blogs

Email newsletter

Widgets

LinkedIn Groups

3rd Party Facebook pages

Social Bookmarking

3rd Party Twitter pages

3rd Party Blogs

LinkedIn Groups

Analysts

Publishers

Website,Blog

StandardAcquisition

Funnel


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


So where’s the proof that it works?


Case Study: Integrated Demand Gen

1 integrated campaign

14 countries

75,000 contacts


18 months…


1 2 3 4 5 6 7 8 9 10 11 12$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

Total Pipeline

Inbound Pipeline

Outbound Pipeline

Weeks

$ m

illi

ons

Campaign Pipeline – 1st 12 weeks


Campaign Pipeline in SFDC

$0.0$1.0$2.0$3.0$4.0$5.0$6.0$7.0$8.0$9.0

$10.0$11.0$12.0$13.0$14.0$15.0$16.0$17.0$18.0

Total Pipeline

Inbound Pipeline

Outbound Pipeline

Weeks

15% conversion

10% conversion

12% conversion

11% conversion

+23% av.order value

+37% av.order value


Campaign Closed Revenue in SFDC Total

$0.0

$0.2

$0.4$0.6

$0.8

$1.0$1.2

$1.4$1.6

$1.8

$2.0$2.2

$2.4

$2.6$2.8

$3.0$3.2

Closed Revenue

Weeks

$ m

illio

ns

£22m pipeline

£4.85m closed

1:90/1:20 ROI


The value of nurturing...

Eloqua. Study of ten B2B organisations using lead scoring systems


Thank youAny questions?


Information in your pack...


Bringing Science to the Art of MarketingPete Jakob, IBM Brand Manager, UK & Ireland

(Marketing Scientist)

Presentation 2

Pete Jakob

Demand generation best practice and the role of nurturing. 12.05.11

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Transcript of Demand generation best practice and the role of nurturing. 12.05.11