presenter:andrew haussegger date:march 2011 © 2010 green hat. all rights reserved. understanding...
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Presenter: Andrew HausseggerDate: March 2011
© 2010 Green Hat. All Rights Reserved.
Understanding the Science of B2B Marketing
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Slide 2 ADMA B2B Marketing University March 2011
Why the Science of B2B Marketing?
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Slide 3 ADMA B2B Marketing University March 2011
Agenda A Short Intro to Green Hat Top Five Marketing Observations Snapshot of Recent B2B Marketing Research The B2B Go-to-Market Plan The Role of Nurture Marketing Six Key Ingredients for Nurture Marketing Take-Aways
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Slide 4 ADMA B2B Marketing University March 2011
A Short Intro to Green Hat
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Top Five Marketing Observations
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Slide 6 ADMA B2B Marketing University March 2011
Perhaps not as controversial as this guy, but consider this …
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Slide 7 ADMA B2B Marketing University March 2011
Observation #1: Balance of power has shifted between the B2B buyer and seller.
Marketers have to find and follow the breadcrumbs left by the buyers who are trawling the web and social media – in the process of educating themselves. Today we market in a buyer-centric, buyer-driven world.
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Slide 8 ADMA B2B Marketing University March 2011
9 out of 10 buyers say that when they’re ready to buy,
they’ll find youSource: DemandGen Report 2009
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Slide 9 ADMA B2B Marketing University March 2011
What are visitors doing on your website?
Up to 95 percent of qualified prospects on Web sites are there to research and not yet ready to talk with a sales rep
As many as 70 percent of them will eventually buy a product from you — or your competitors.
Source: Google/TechTarget Behavioral Research Project Phase 2: 2010
And, by 2015, 70% of all business leads will
come from the Internet
SiriusDecisions 2010
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Slide 10 ADMA B2B Marketing University March 2011
Observation #2: The B2B marketer cannot effectively measure and manage prospect engagement in a vast online/offline environment without automation tools.
Traditional campaign
tactics
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Slide 11 ADMA B2B Marketing University March 2011
The Real-time Marketing Enterprise. The seller needs to be listening and ready to respond at the buyer’s command.
Source: JHV Blog (2010)
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Slide 12 ADMA B2B Marketing University March 2011
IDC survey on adoption of Marketing Automation
“Of the 235 respondents in a November 2010 IDC survey, nearly 40% had not implemented a marketing automation solution (yet). Not
implementing a marketing automation solution may be the ultimate career limiting move for today's marketers.
Digital marketing has exploded in scope and complexity making it practically impossible to efficiency and effectively reach your target
audience without a fully realized marketing automation infrastructure. If you haven't gotten started you are already way behind the ball.”
IDC (USA) Nov 2010
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Slide 13 ADMA B2B Marketing University March 2011
Observation #3: Content marketing is the secret sauce in the new paradigm – getting the right message to the right person at the right time.
An over-supply of unfiltered content? Help the buyer cut through the clutter
with valued information Seller needs to show that they are
listening online Buyers value thought-leadership and
solution information aligned to their buying process
Win Trust
(3)
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Slide 14 ADMA B2B Marketing University March 2011
Observation #4: Marketing and sales need a unified approach and must close the loop.
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Slide 15 ADMA B2B Marketing University March 2011
A checklist of sales/marketing collaborative Must-Have’s
Define a common language Define the end-to-end pipeline process Define the definition of a lead and quantify the value of the lead in
dollar terms Define the Ideal Customer Profile and profiling questions Set KPIs and metrics Meet regularly to review and optimise Align functional goals
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Slide 16 ADMA B2B Marketing University March 2011
Observation #5: The Personal Brand will become just as important as the Corporate Brand. Companies need to humanise/capitalise their Personal Brands.
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Snapshot of B2B Marketing Outlook research
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Slide 18 ADMA B2B Marketing University March 2011
Key challenges for B2B marketers – 2010
Source: Green Hat B2B Marketing Outlook Report (Feb 2011)
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Slide 19 ADMA B2B Marketing University March 2011
B2B marketing budget allocation – 2011
Source: Green Hat B2B Marketing Outlook Report (Feb 2011)
For each $1 spent on lead generation
(trad), 53c spent on nurturing &
managing the lead
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Slide 20 ADMA B2B Marketing University March 2011
B2B marketing key objectives - 2011
Source: Green Hat B2B Marketing Outlook Report (Feb 2011)
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Slide 21 ADMA B2B Marketing University March 2011
What other insights did we get from the research?
Budget: 40% say budgets have risen year-on-year. 1-in-7 by more than 20%.
Content: Value-add content was the top campaign offer. #2 was workshops – also a form of information sharing.
Social: Smaller companies spend more of their budget on digital/social marketing than larger companies.
Email me for your copy: [email protected]
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The B2B Go-to-Market Plan
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Slide 23 ADMA B2B Marketing University March 2011
A best-practice marketing execution program will tightly integrate lead generation and lead nurturing
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The Role of Nurture Marketing
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Slide 25
“Every response must be nurtured”
VP Global Marketing – Global High-Tech Brand (2011)
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Slide 26 ADMA B2B Marketing University March 2011
The stage of buyers in your lead universe
A key to the B2B marketer’s value propositionEach time we go to market, we reach out to unaware prospects as well as hot prospects. We invest in branding and positioning touches with all those we communicate with. Marketers identify the hot prospects and pass them on for sales pursuit. But unfortunately prospects and suspects in the mid-outer circles are often forgotten.A systemised process can nurture them along their buying journey to position the vendor for the day the buyer becomes ‘in the market’.
The Seller’s Lead Universe
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Slide 27 ADMA B2B Marketing University March 2011
Definition – Lead Nurturing
The science of progressing buyers through the pipeline using relevant content and offers that
match their buying stage – ultimately to develop profile-rich sales-ready leads.
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Slide 28 ADMA B2B Marketing University March 2011
Definition – Lead Nurturing
The science of progressing buyers through the pipeline using relevant content and
offers that match their buying stage – ultimately to develop
profile-rich sales-ready leads.
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Slide 29 ADMA B2B Marketing University March 2011
What lead nurturing is not
It is not … A couple of follow-up emails to a campaign A download offer of a case study followed by an immediate
telemarketing call A mass email blast A generic e-newsletter A bi-monthly call to see if they are ready for that appointment
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Six Key Ingredients for Nurture Marketing
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Lead Nurturing Ingredients #1 – Communications#2 – Content#3 – Contacts#4 – Automated Process#5 – Automation Technology#6 – Measurement
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Slide 32 ADMA B2B Marketing University March 2011
A 3-tier framework for nurture communications
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Slide 33 ADMA B2B Marketing University March 2011
How do the nurture streams interlock?
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Slide 34 ADMA B2B Marketing University March 2011
Considerations in the nurture dialog
Decide your nurture voice for your email, online and phone communications– Trusted advisor, thought leader– Not ‘I’m ready to sell, are you ready to buy!’
Humanise the nurture process (all communications for that matter)
Align relevant offers with informationConsider the cadence for touches– Ask the buyer how often they want to hear from you?– Tele-nurture call is key and timing is critical
Communications should not be restricted to email/ telemarketing
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Lead Nurturing Ingredients #1 – Communications#2 – Content#3 – Contacts#4 – Automated Process#5 – Automation Technology#6 – Measurement
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Slide 36 ADMA B2B Marketing University March 2011
Specific assets are more relevant than others at different stages in the buying process
Source: Google/TechTarget Behavioral Research Project Phase 2: 2010
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Slide 37 ADMA B2B Marketing University March 2011
The buyer has a ferocious appetite for information and solution content
Average buyer consumes 20-50 content assets in
60 days (IT buyer)
Source: Google/TechTarget Behavioral Research Project Phase 2: 2010
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Slide 38 ADMA B2B Marketing University March 2011
Content mapping - example
Role Category
Assets that will grow buyer’s awareness of problem/opportunity
Assets that will position seller’s solution
Financial management (CFO, Financial Controller …)Strategic management (CEO, MD, Business Owner …)Technology management (CIO, IT Manager …)Line-of-Business management (HR, Marketing, Supply Chain …)
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Slide 39 ADMA B2B Marketing University March 2011
What is content layering?
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Cust
omer
s
Aware-ness
Tier 2
Sale
s qu
alifi
catio
n
On
goin
g pr
ofilin
g ba
sed
on
info
rmati
on la
yerin
g an
d tr
igge
r eve
nts
Tier 3
Self
Asse
ssm
ent T
ool
Tier 4 Tier 1
DRW Print
Country Profiles (web)
International Business Index
Alliance workshops Deal workshops
Finance toolworkshops
Finance Assessment Index
Chart Pack(web)
Wel
com
e –
self
sign
up p
roce
ss
Trade Missions
Ally / sponsor events
Other ATL
Content marketing for multiple sub-segments (client example)
Awareness (GFC issues)
Awareness (finance sol’ns)
Identify NeedKey
Briefings/Events
Nurture Assets 2
Global update Subscription
Country alerts
Australian updates subscriptions
Nurture Assets 1 MTV
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Slide 41 ADMA B2B Marketing University March 2011
Tips for best-practice Content Marketing (from the trenches)
Recycle and re-purpose Setup an editorial calendar & plan your content a quarter ahead Content-on-the-fly ! Use third party content in the problem awareness stage where
possible– Industry analyst abstracts, independent researchers– Link to media articles of interest– Content can be simple such a point-of-view email on a current topic
Build content for smart-phone consumption Build profiles of your thought-leaders
(R)
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Lead Nurturing Ingredients #1 – Communications#2 – Content#3 – Contacts#4 – Automated Process#5 – Automation Technology#6 – Measurement
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Slide 43 ADMA B2B Marketing University March 2011
Designing your database pyramid dimensions. Quality over quantity.
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Slide 45 ADMA B2B Marketing University March 2011
Database considerations in lead nurturing
Assess your database position– What is your Ideal Customer Profile?– Conduct a gap analysis against your addressable target audience– Conduct an internal audit– Implement a strategy to fill the gap
Setup a progressive profiling approach– Align with sales– Self-select V Auto-select options– Automate the collection of profile data – Use pre-determined Behavioural /Explicit Profiling rules to define when
to request profile information Devise strategies for gaining email opt-in rights
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Lead Nurturing Ingredients #1 – Communications#2 – Content#3 – Contacts#4 – Automated Process#5 – Automation Technology#6 – Measurement
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Slide 47 ADMA B2B Marketing University March 2011
Getting the automated ‘measure & manage’ process (and rules) right is paramount?
** ICP = Ideal Customer ProfileMQL = Marketing Qualified LeadSAL = Sales Accepted Lead
LeadGeneration
Opp’ty Development
Lead Nurture
Opp’ty Closure
Retention & Loyalty
Engaged
Profiled
MQL**
SAL**
ICP Targets**
Lifetime Value
Order
Marketing-managed Sales-managed Shared
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Lead Nurturing Ingredients #1 – Communications#2 – Content#3 – Contacts#4 – Automated Process#5 – Automation Technology#6 – Measurement
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Lead Nurturing Ingredients #1 – Communications#2 – Content#3 – Contacts#4 – Automated Process#5 – Automation Technology#6 – Measurement
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Slide 50 ADMA B2B Marketing University March 2011
Most analysts are up-beat about the potential ROI attributable to lead nurturing
Four out of five unworked leads ultimately buy
something. SiriusDecisions
Companies that automate lead
management processes can increase revenue by at least 10% within 6-9
months. Gartner 2009
An estimated 70-90% of leads generated by marketing are never
followed up by sales. Marketing Sherpa Research Report
Companies who excel at lead nurturing generate 50% more sales-ready
leads at 33% lower cost. Forrester 2009
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Slide 52 ADMA B2B Marketing University March 2011
Tracking performance of lead nurturing requires attention to additional metrics (client scenario)
Other Lead Nurture metrics: Response by nurture stream Time lag in streams (no progression) Self-subscribe/auto-subscribe to streams Landing page drop-out Unsubscribes
Consider the Nurtured-Generated Lead vs the Nurture-Assisted Lead. What was the source of the lead?
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Take-Aways
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Slide 54 ADMA B2B Marketing University March 2011
Take-Aways
1. Game-changer: balance of power has shifted to the buyer
2. This is driving the shift to the Science of Marketing – data, processes, automation, content and analytics
3. Don’t ignore the power of social media, but don’t bet the b2b house on it
4. An engaging and pervasive online presence for the seller is mandatory
5. Marketing must team up with Sales – like never before6. Sell the vision, objectives and imperatives internally to
the C-suite and Sales – their support is crucial