Demand Generation & Marketing Technology

Demand Generation + Marketing Technology

© Leftbrain Marketing Inc. All Rights Reserved Twitter: @LeftBrainMktg

Your presenters

© Leftbrain Marketing Inc. All Rights Reserved 2

Malcolm Friedberg President

•  Client experience: Dell, Intuit, Avery Dennison, McKesson, Motorola, Lenovo

•  Marketing leadership: CMO, Euphonix; VP Marketing, Metrocities Mortgage, Wholesale Division

Twitter: @malfried

Adam Needles VP, Demand Gen Strategy •  Client experience: E*TRADE,

Motorola, Pitney Bowes, Target, Platinum/CA, Dell, Brady Corp., Lenovo, PTC, UW Credit Union

•  Marketing leadership: B2B Marketing Evangelist + Director, Field Marketing, Silverpop; VP Marketing, The 451 Group

Twitter: @abneedles

We Are a Demand Gen Agency §  Left Brain helps enterprise marketing organizations

design and execute successful, modern demand generation programs.

§  Left Brain combines: –  Process: Leverage TLBM proprietary approach –  Content: Centered around Buyer 2.0 –  Technology: Powered by marketing automation

§  Left Brain delivers strategy, production (content, campaigns + tech), analytics and optimization.

© Leftbrain Marketing Inc. All Rights Reserved

Agenda §  State of Modern Demand Generation §  Buyer 2.0 + the Modern B2B Buying Process §  Demand Generation 2.0

–  One-to-one nurturing dialogue –  Content marketing

§  Marketing Technology –  The technology stack –  Bringing it into your organization


STATE OF MODERN DEMAND GENERATION


B2B demand-gen is a numbers game

§  Only 2-5% of raw inquiries coming into the top of the B2B marketing and sales ‘funnel’ convert to sales.

§  25-30% of B2B marketing databases have bad or incomplete records.

Source: SiriusDecisions Summit 2010

§  Overall US CRM adoption has grown from 53% in 2003 to 75% in 2010. (CSO Insights)

§  UK enterprise CRM adoption exceeded 50% for the !rst time in 2009. (UK Office for National Statistics)

§  US Marketing automation adoption is 7-10%, projected to rise to 30% by 2015. (SiriusDecisions)

Sources: SiriusDecisions Summit 2010; UK Office for National Statistics, “Use of Information and Communication Technology (ICT) and e-commerce activity by UK businesses”; CRM Magazine, "CRM: Then and Now"

We look to technology for a solution

Best-in-class nurturing pays off

Best-in-class results:

§  Double the bid-to-win ratio on nurtured leads

§  Nurtured leads delivered 47% higher average order values

Source: Aberdeen Group, "Lead Nurturing: The Secret to Successful Lead Generation"

Among adopters of marketing automation technology, “fewer than 10% of them are deploying those tools to address programs later in the buying cycle.”

Source: Heuer, Email Interview re: SiriusDecisions Sea Change Data

We’re challenged in using technology

Technology alone is not a solution

Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"

We can’t just "ood our reps “[S]ales reps that focused on fewer, more winnable deals tend to do better. Flooding the rep with low quality/high quantity leads only increases their inefficiencies … .”

Source: SiriusDecisions, “The Perfect Pipeline: When Less Is More”

Today’s Demand Gen Challenges…

§  The traditional B2B model is broken §  Advent of Buyer 2.0 §  Going from mass marketing to one-to-one §  New role of social / inbound §  Analytics + marketing’s revenue contribution §  Connecting content offers to revenue


Discussion: Your demand generation environment


BUYER 2.0 = THE MODERN B2B BUYING PROCESS


Information consumption patterns of B2B buyers are rapidly changing.


And power is shifting from sellers to buyers …


17 Source: Brett King, Bank 2.0

A new digital divide for #nance?

The B2B case …


Inbound is more critical than ever “Currently, more than half of all new inquiries are generated through the Web; we believe that by 2015, this number will rise to nearly 75%. Inbound marketing [is not] new in theory, but ... marketers must plan for it ... .”

Source: SiriusDecisions, “Inbound Marketing, the Sirius Way”

Turning to online sources ...

Source: Enquiro, “Integrated Persuasion: Online and Offline”

Peer in"uence is king ...

Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.

Leveraging social media ...

Source: B2B Marketing/Base One, "BUYERSPHERE, Survey of B2B Buyers' Use of Social Media"

Buyer 2.0 listens to groundswell.

Source: B2B Marketing/Base One, "BUYERSPHERE, Survey of B2B Buyers' Use of Social Media"

Financial pros use of social media “76% of !nancial professionals use social technologies at least monthly for business purposes.”

Source: Forrester, “Building Successful B2B Financial Services Social Marketing Programs”

Yet we turn more to email in B2B •  89% of B2B marketers use email. •  Email is the number-one

outbound B2B marketing tactic used today.

Source: Forrester Marketing Forum 2010 presentation

We’re sending more B2B email

Source: SiriusDecisions Summit 2010

Traditional email = declining results

14.0%

11.2%

2.9% 1.6%

0.0% 2.0% 4.0% 6.0% 8.0%

10.0% 12.0% 14.0% 16.0%

2H 2007 2H 2009

Performance of Batch/Blast Email

Email open rates Average click rates

27 Sources: MarketingSherpa; MailerMailer

How new content consumption patterns are reshaping the traditional B2B buying process …


B2B buyer decision cycle Satisfaction

Acknowledgment

Decision (To begin buying process)

Criteria

Selection

Investigation

Reconsideration

Measurement Source: R. Jolles

Emerging buying cycle gap ... Satisfaction

5%

Acknowledgment 79%

Criteria

Selection

Investigation

Reconsideration




Acknowledgment

Criteria

Selection 2%

Investigation 2-3%

Reconsideration




Acknowledgment

Criteria

Selection 2%

Investigation 2-3%

Reconsideration

Measurement

problem

Source: R. Jolles



Acknowledgment

Criteria

Selection 2%

Investigation 2-3%

Reconsideration

Measurement

problem

problem

Source: R. Jolles


Discussion: Your buyer dynamics?


DEMAND GENERATION 2.0


What we mean by demand generation …


Demand Generation 2.0

Engagement

Nurturing

Acquisition

Content marketing programs

Technology infrastructure

Lead management processes

Source: Left Brain DGA


One-to-one nurturing dialogue = Improved sales results


One-to-one engagement?

“Buyers have higher expectations for intimacy. … We have built intimacy into the later stages of the buying process. … But at the front end, our traditional tactics are starting to come off with all the warmth and sincerity of an English royal.”

Source: Chris Koch, “Why you need to turn your customers into stalkers”

Nurturing = It’s about efficiency

Nurturing = It’s about timing

sort-of-ready definitely not ready

Source: MarketingSherpa, "2010 E-mail Marketing: Benchmark Report"

Dialogue = architecture of nurturing

LISTEN TO PROSPECT

OFFER CONTENT

GET FEEDBACK

PLAN + TUNE NEXT

OFFER



Dialogue = non-linear nurturing

Outbound Marketing Inbound Marketing

Initial Buyer Interest

Collect Buyer Insights +

Route

Follow-up / Content Offer

More Buyer Interest + Action

Initial Human Contact

Sales Follow-up

Marketing Nurturing

+ Marketing Automation

Sales Nurturing

+ CRM

Scoring + Segmentation +

Routing

Add. Explicit + Behavioral Data

Collection

Marketing Automation to

CRM Sync

Email Sent

Web Form Data Collection



Nurturing path = the dynamic campaign



Discussion: Is any of your marketing one-to-one today? Are you nurturing?


Content Marketing = The new ‘secret sauce’


Content was ...

Relevant messaging?

“86% of the 'unique bene"ts' touted by vendors were not perceived as unique or having enough impact to create preference.”

Source: Tim Riesterer, "Three B2B Value-Proposition Rules That Create Preference, Not Just Parity"

Content is now ... §  Critical information §  Conveyed on speci!c topics §  Carries the buying process forward §  Delivered via right channel / timing / voice

... aligned to speci!c phases of the buying cycle.


Catalyst for B2B buying …

72% of the time ‘"t for a speci"c need at a speci"c time’ is the number one reason for a B2B purchase today.

Source: Forrester Marketing Forum 2010 presentation

Aligning content by buying stage

Acknowledgment Social media Thought leadership (w/ E-mail nurturing) Traditional media

Decision E-mail nurturing

Field events Search

Criteria Analyst reports

Blog + Web reviews Search

Investigation Detailed product literature

Sales proposals

Measurement Analyst reports Search Product Web sites Source: R. Jolles

w/ A. Needles contributions

Designing content marketing



Combining nurturing + content layers

BCC BCC BCC BCC

PC PC PC PC

DC DC DC DC

Buying Cycle Content

Promotional Content

Drip Content

PROSPs RESPs QRs SRLs



“Banking and !nancial services have high rates of content marketing adoption (93%); however, their focus is on traditional formats, such as articles (82%). They also use social media signi!cantly less often than other industries (62% adoption versus 79% average).”

Source: Junta42 + MarketingProfs, “B2B Content Marketing: 2010 Benchmarks, Budgets and Trends”

Content marketing in #nancial services


Discussion: How’s your content? Does it align to buying stages?

MARKETING TECHNOLOGY


Capabilities of marketing automation


CRM Marketing Automation

Batch / Blast Email

Single Emails

Nurturing Campaigns

Demographic Scoring

Behavioral Scoring

Form Builder

Landing Page Builder

Dynamic List Segmentation

Dynamic Email Content

High Volume Emails

Web Visitor Tracking

ROI Reporting


Technology systems


CRM Platform

Link Source Tracking

Website + Blog CMS

Marketing Automation

Inbound Marketing

Optimization

Marketing Analytics

Social Media Activity Tracking

Ad/Site Tracking


Marketing analytics?

“Only 50% of marketers in our survey said they had analytics programs, and of these, few were focused on predicting behavior; most were simply reporting past behavior. Even rarer is the ability to carry those analytics all the way through to a sale.”

Source: Chris Koch, “We Need an App for That”

True ROMI §  Inbound / outbound activity

§  Prospect acquisition performance

–  # Prospects / channel –  Cost / Prospect / channel –  Cost / revenue / channel

§  Content marketing performance

–  Revenue elasticity –  Offer to close time –  Cost / revenue / offer

§  Nurturing program conversion rates

–  Total rate of conversion –  Intermediary rates

§  Demand Gen program ROI –  # Prospects acquired –  # Sales Opportunities –  Total value of current Sales

Opportunities –  Revenue in$uenced –  ROI ratios


HOW TO BRING IT INTO YOUR ORG


People + processes + content ...

Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"

People

§  Marketing team skills requirements §  Focus on outcomes vs. activities §  Analytics-driven §  Sales team stakeholder buy-in §  Common sales/marketing lingo/

de!nitions for lead stages, process §  Buyer ‘engagement’ mindset


Process: Lead management stages


QUALIFIED RESPONDENTS

SALES READY LEADS

PROSPECTS

RESPONDENTS

SALES OPPORTUNITIES

CLOSED-WON

NON-RESPs

NON-QRs

NON-SRLs

NON-SOs

The Left Brain Model for Demand Generation


Takeaways

§  New B2B marketing paradigm §  Holistic demand generation §  Buyer-centric §  Content becomes strategic §  Marketing + sales integration crucial §  Requires new processes, content,

technology + marketing roles


Demand Generation & Marketing Technology

Business

Transcript of Demand Generation & Marketing Technology