how advocate marketing boosts lead to-revenue management

How Advocate Marketing Boosts Lead-to-Revenue Management

April 16, 2013

Featuring

2

• Mark Organ, CEO & Co-Founder of Influitive

• @influitive

• @markorgan

Your Presenters

• Lori Wizdo, Principal Analyst, Forrester Research

• @loriwizdo

3

• For audio choose “Use Mic & Speakers” or “Use Telephone” in your Audio

window

• Submit your text question using the Questions pane

• Note: A recording will be made available

How to participate

HOUSEKEEPING

4

Advocate marketing captures their enthusiasm and turns it into a powerful force for igniting business growth.

All companies have champions

Research Informs Our Insights

•Consumer Technographics

•B2B Social Technographics

•Tech Marketing Navigator

•Q4 2011 Marketing Organization and

Investments

•Q3 2012 B2B Marketing Tactics and

Benchmarks Online Survey+ Countless other

research panels

•+ Endless Inquiries (over 100 in Q1)

© 2012 Forrester Research, Inc. Reproduction Prohibited

0-9% 10-19% 20-29% 30-39% 40-49% 50-59% 60-69% 70-79% 80-89% 90-100%

3%

8%

18%

16%

19%

13%

11%

7%

3%

0%

What Percentage of Your Pipeline Is Marketing Sourced?

The Pipeline is Half-Empty

On average only 40% of B2B pipelines are marketing sourced

Base: 216 marketing decision-makers at B2B companies in the US and Western Europe with 100 or more employees; Source: Q4 2012 US and Europe B2B Technology Marketing Tactics And Benchmarks Online Survey

#L2RM


300% Increase in sales leads?

No Problem.

We got this.


Kicking lead gen up a notch …

Launch 22% more campaigns

Get some Inbound working

Increase leads dramatically Nurture each lead,-- 4-touches

Score leads

Promote leads to SaleS

Sales accepts leads then …

(a) Puts lead on ‘back burner’ to close this Q’s deals

(b) Closes lead as ‘dead’ when they don’t want a Proposal or PoC

(c) Creates 20% Opportunity & Task to call in 3 months


…. And Gets the Same Old Result

© 2012 Forrester Research, Inc. Reproduction Prohibited 9

Marketing Team is working like demons

Dramatic Increase in Traffic, Leads, MQL, SQL

Minimal increase in marketing contribution to pipeline

Limited contribution to revenue

Relationship with Sales still not all that good


Success is not coming from putting more into this output machine!

Average conversion ratios from Forrester’s Research

MQL SQL Pipeline Won dealEnd-to-

end

All 32%(N = 211)

32%(N = 196)

28%(N = 201)

26%(N = 195)

0.75%

Top-Performers

39%(N = 65)

37%(N = 58)

34%(N = 59)

32%(N = 58)

1.54%

Base: Marketing decision-makers at B2B companies in the US and Western Europe with 100 or more employees; Source: Q4 2012 US and Europe B2B Technology Marketing Tactics And Benchmarks Online Survey

You can’t get there from here!


It’s not just about scaling the old model!


Attract Capture Nurture Convert Expand

B2B demand management tacticsContent marketing (e.g. whitepapers, interactive widgets, infographics)

Tele-prospecting

Digital advertising (includes sponsorships and banner ads, but not pay per click)

Tradeshows

Email marketing Virtual events (e.g. virtual tradeshows)

Company sponsored in-person events Radio, TV advertising

Print advertising Analyst relations

Pay per click advertising Webinars

Social marketing Public relations

Search engine optimization Industry trade/user groups (e.g. INETA, ASUG)

We asked about the use of 16 tactics across 5 stages

#L2RM


What are your top 4 tactics for building awareness?


Top Tactics: Attract

The Funnel is not dead, but it …

…Doesn’t understand the balance of power has shifted from seller to buyer.


Buyers are in control.

• Your sales people • Google• Your web site

• Peers/colleagues• Experts• Your customers

• Brand perception• Product info

• Brand perception• Features/benefits• Alternatives• Comparisons

• Brand perception• Features/benefits• Alternatives• Comparisons• Reputations• Customer opinions• Prices

Sources of information

What buyers know in advance

Pre-Web Web 1.0 Social Web

Information Scarcity

Information OverloadAttention Abundance

Attention Deficit


The Model Has Changed

ClassicMarket interactions based on products

NewMarket interactions based

on business outcomes

Scale with Campaigns Scale with AwarenessSource: May 7, 2008, “Community Marketing: A New Discipline For Business Technology Marketers” Forrester report


“The fine art of being found.”

Source: The New Yorker, October 3, 2011


Top Tactics: AttractWhat are the four most effective tactics for this stage?

Base: 328 marketing decision-makers at B2B companies in the US and Western Europe with 100 or more employees; Source: Q4 2012 Global B2B Technology Marketing Tactics And Benchmarks Online Survey

Tele-prospecting

Pay per click advertising

Content marketing

Company sponsored in-person events

Virtual events

Webinars

Analyst relations

Industry trade/user groups

Radio, TV advertising

Search engine optimization

Digital advertising

Email marketing

Public relations

Tradeshows

Social marketing

Print advertising

0% 5% 10% 15% 20% 25% 30% 35%

All respondents (N = 328)

Top performers(N = 124)

#L2RM


Business People are Active on Social (for Business!)

86%Engage

in social activity while working.

32%Are

content creators

Base: 645 IT decision-makers at firms with 100 or more employees in the US and Western EuropeSource: Q1 2011 US And European B2B Social Technographics® Online Survey For Business Technology Buyers*Source: North American Technographics® Online Benchmark Survey, Q2 2010 (US)

55% Cite online communities and forums

as influencers on their decisions


“I don’t have time for social”


Advocate reviews ATTRACT buyers

Fact: Referrals to Tech B2B sites from non-branded searches account for 78% of all search referrals. Peer testimonials/reviews of a product account for 60% of these.

22

Advocate reviews attract buyers

262 reviews, follows, and shares, making it one of LinkedIn's most visited profiles in 2012.

What are your top five tactics for capture (lead origination)?


Top Tactics: Capture


Virtual events

Analyst relations

Digital advertising

Social marketing



Public relations

Print advertising

Webinars

Tele-prospecting

Content marketing



Email marketing

Tradeshows

0% 5% 10% 15% 20% 25% 30% 35%



Top Tactics: CaptureWhat are the four most effective tactics for this stage?


#L2RM


Advocates refer the best leads

Fact: Evangelist spend 13% more than the average customer and refer business equal to 45% of the money they spend

26

Advocates help you capture the BEST leads

• 36 new leads

• 25% conversion rate in same quarter

• $100K in pipeline


What are the top five tactics for lead nurturing?

Top Tactics: Nurture




Digital advertising

Print advertising


Virtual events

Public relations

Social marketing


Tele-prospecting

Analyst relations


Tradeshows

Webinars

Content marketing


Email marketing

0% 5% 10% 15% 20% 25% 30% 35% 40%



What are the four most effective tactics for this stage?

#L2RM


Nothing nurtures better than customer success stories

Fact: B2B marketers cite case studies (78%), followed by white papers (73%), and in-person events (72%) as the most effective content for lead nurturing.

30

Ektron’s advocates generated a huge increase in customer submissions for “Site of the Year” award.

Advocates create the most compelling nurturing content

50 Submissions500% Increase in nominations




Digital advertising

Print advertising


Virtual events

Public relations

Social marketing


Tele-prospecting

Analyst relations


Tradeshows

Webinars

Content marketing


Email marketing

0% 5% 10% 15% 20% 25% 30% 35% 40%




#L2RM



B2B Marketers Are Missing the Mark.

Attract Capture Nurture Expand

What are the top five tactics for lead conversion?

Top Tactics: Convert

Convert

The Answer was “Sales Enablement”

“Sales enablement is a strategic, ongoing process that equips all client-facing employees with the ability to consistently and systematically have a valuable conversation with the right set of customer stakeholders at each stage of the customer's problem-solving life cycle to optimize the return of investment of the selling system." © 2012 Forrester Research, Inc. Reproduction Prohibited


You must understand buyer’s process

BT conversations are moving online


You must engage

37


“I don’t have time for social”


Buyers need to make a choice and they go to peers for advice

Fact: 74% of Tech B2B customers consider 3 or more companies when purchasing

#1 result on Google search

Which is better for Ektron?


What are the top five tactics for building customer expansion?

Top Tactics: Expand

Top Tactics: Expansion




Analyst relations

Tele-prospecting

Print advertising


Virtual events


Digital advertising

Public relations

Content marketing

Social marketing

Webinars


Tradeshows

Email marketing

0% 5% 10% 15% 20% 25% 30% 35%




#L2RM


’s Return on Advocacy

Professional Development

ContentDevelopment

Research

Increased engagement leads to continued increase in valueWe nurture our

advocates, grow our relationships with them, and learn from them.

Why Social is a Must for B2B Marketing

B-to-B is really P(erson)-to-P(erson) selling

Buying decisions are highly “trust” based.

Peer influence (the highest influence) is shifting to social.

Advocates helps you engage in the first 2/3rd of the buying journey – when they don’t talk to sales.

Multiple stakeholders over long, complex buying cycle

Advocates help you scale your outreach

Why You Need an Army of Advocates


45

WebinarsTestimonials

Case studies

Likes, retweets, shares

Blog comments

Media & analyst interviews

Event speakers

Net Promoter surveys Community Engagement

Customer awards

Loyalty programs

Help desk & support

Focus Groups

Beta programs

User GroupsProduct reviews

Product launches

!

ReferralsReferences

Customer advisory boards

RoadshowsAmbassador programs

MarketingExecutives

Sales

Customer Service

47

• Mark Organ, CEO & Co-Founder of Influitive

• @influitive

• @markorgan

• Influitive.com

Questions?

• Lori Wizdo, Principal Analyst, Forrester Research

• @loriwizdo

• Forrester.com