five essential pivots marketers must make in 2018
TRANSCRIPT
Five Essential Pivots Marketers Must Make in 2018
Lori Wizdo
VP, Principal Analyst
Forrester Research, Inc.
Adrienne Whitten
Director, Product & Segment
Marketing
Marketo
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60% of B2B buyers prefer not to interact with a sales rep as the primary source of information.
Source: Forrester/Internet Retailer Q1 2017 Global B2B Buy-Side Online Survey
3© 2017 FORRESTER. REPRODUCTION PROHIBITED.Source: Forrester/Internet Retailer Q1 2017 Global B2B Buy-Side Online Survey
68% of B2B buyers prefer to research online on their own — up from 53% in 2015.
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62% of B2B buyers say they can now develop selection criteria or finalize a vendor list — based solely on digital content.
Source: Forrester/Internet Retailer Q1 2015 US B2B Buyer Channel Preferences Online Survey (N = 229)
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B2B marketers must engage the new business consumer
Source: The Birth Of The B2B Consumer Forrester report
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What’s at Stake?WE ARE IN THE MIDST OF A RENAISSANCE IN THE PRACTICE OF B2B MARKETING
B2B Marketers must quickly adapt their
strategy and tactics, as customer behavior
and technology are changing faster than
ever.
• Dramatic changes in B2B buyer behavior
• Disruption in our primary routes to market
• Expanded remit of B2B marketing
Think brands must have a
deep understanding of their
needs in order to engage
them successfully
(Marketo)
73%
Say that the brands could do
a better job aligning their
engagement activities with
their preferences
(Marketo)
66% 65%
Expect all of their interactions
with a brand to be personalized
(Marketo)
Growing Customer Expectations
of buyers believe
brands try to deliver
value
Source: State of Engagement
Most buyers don’t believe you are trying to understand them
of marketers say
their engagement
efforts are effective
33% 83%
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The Customer-obsessed mandate
• B2B companies must rethink marketing strategies to deal with today’s digitally enabled business buyer.
• B2B companies must rethink the alignment, calibration and remit of marketing, sales, and service.
• Companies that do not become customer-obsessed will lose customers and market share.
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Product-centric
Campaigns
Five Key Pivots To Make In 2018
Reaching
Customer-centric
Engagement
Personalized
Outcomes
Attracting
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Key questions• What do our best
customers look like?
• Why do they buy from us?
• How do they become valuable?
• What do they care about?
• Why do they engage with us?
• How can we reach them?
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B2B marketers will become the architects of customer engagement across the life cycle.
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Completely Agree34%
Completely Agree28%
“Our execution places just as
much importance on
customer retention and
advocacy as on acquisition
and growth”
• Wanted more personalized messaging
for healthcare professionals about their
multimillion dollar medical equipment
• Leveraged Marketo to track customer
behaviors and prescribe differentiated
content or messaging by role (ex.
radiologist) or region (Ex. India versus
US)
• Results: Marketing touched a total of $2
billion in pipeline and yielded $600
million in new revenue
Customer-Centric
GE Healthcare
humanized B2B
marketing by
personalizing
content to
physicians globally
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Product-centric
Five Key Pivots To Make In 2018
Value Props
Customer-centric
Outcomes
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From Inside Out to Outside In
Capabilities SolutionsProblems
Solved
Buyers
Who
Have
The
Problem
CapabilitiesSolution
OfferingOutcomes
Key buyers
or
Segments
Traditional marketing builds out from the product
Customer-obsessed marketing builds in from the buyer
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Agree41%
Completely Agree19%
“Our GTM is built around
customer use cases or
outcomes, not products or
markets”
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Key questions› WHAT ARE THEY TRYING TO ACHIEVE?
What we sell:
› Banking services
› Loans and credit
› Merchant services
› Insurance
› Payroll and business
services
What our buyer buys:
› Efficient operations
› Flexible cash flow
› Capital for expansion
› More payment options
› Risk mitigation
› Operational efficiency
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Juniper walks visitors through problem scenarios
Source: Juniper Networks
Free
Trial
System
CRM
Extended Tech Stack
(webinars, social,
etc.)
TrendMicro targets
messaging for each product
& trial stage.
Product/stage data helps
them track & improve multi-
touch marketing ROI by
business unit, product and
audience.
Understanding the
customer improved
TrendMicro’s web trial
conversions by
1700%
Tableau
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Product-centric
Five Key Pivots To Make In 2018
Value Props
Reaching
Customer-centric
Outcomes
Attracting
BetterCloud uses
interest in specific
topics to target content
Automatically adapts web
and newsletter
experiences
Encourages customers
to indicate preferred
contact cadence, and
keep it up to date
CONTENT CHANNEL CADENCE
Engage and bring them back
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Product-centric
Campaigns
7 key steps in the pivot to customer obsession.
Value Props
Reaching
Customer-centric
Engagement
Outcomes
Attracting
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Scales <to a point>
with volume
Campaigns are . . .
› About ‘filling the funnel.’
› Not designed around the
buyer journey.
› Contextually irrelevant.
Why Campaigns Are No Longer Enough
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Source: The New Yorker
“You also had a very good feeling about the last one”
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B2B Marketing’s New Remit
You need to be relevant at the
ZeroMoment ofTruth
Image source: Think With Google (https://www.thinkwithgoogle.com/)
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It is about guiding buyers through a journey.
It is not aboutfilling the funnel.
What it means
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DISCOVER
EXPLORE
BUY
USE
ASK
ENGAGE
Expansion and extension
Growth and retention
Initial purchase
There are many journeys across the customer life cycle.
@ ScaleEngage when owner gets a
new puppy
Created breed-specific
campaigns
Timed to send each week
with a new developmental
milestone
Great stories are:
PERSONAL
RELEVANT
TIMELY
Engage with stories
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Product-centric
Campaigns
Targeted
Five Key Pivots To Make In 2018
Value Props
Reaching
Customer-centric
Engagement
Personalized
Outcomes
Attracting
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Behavior
Data augmentation
Surveys
Progressive profiling
Content
Navigation
How do I know
how to
personalize?
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Personalize the Journey
Visitors presented with personalized content convert 5X more than average and account for approximately 30% of goal completions(Source: Marketo)
InsightCreated a single-
source of truth
Discovered a need
for high-value
touch
ActionFound just the right
way to deploy SMS
A single source of truth isn’t just about
collecting data and finding insight. It
should also surface insight and power
action at scale.
Right channel, right message, right time
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Making it work . . . .
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