Expand (#iheartmktg NYC)

transcript

Eastern Region User Conference

June 6, 2014

RAPID FIRE SESSION

EXPAND

PRESENTED BY:

JUDY LOGAN, DIRECTOR, CUSTOMER & PARTNER MARKETING

JULIE PERSOFSKY, DIRECTOR, CUSTOMER STRATEGY, INFLUITIVE

Agenda

1 MARKETING & CUSTOMER

SATISFACTION

2 5 STEPS TO BUILDING A

SUCCESSFUL ADVOCACY

PROGRAM

3 CUSTOMER EXTENSION

4 Q& A

End-to-End Customer Lifecycle

Advocates

Customers

Qualified Leads

Inbound Marketing

Marketing Automation

CRM Customer Success

Customer Advocacy

Engagement Platform for Complete End-to-End Customer Lifecycle

Known Prospects

Anonymous Visitors

64% of B2B companies

DO have a customer-

experience function

BUT …

Customer-Experience Function

B2B Companies

75% ARE NOT SEEING greater advocacy or references

Source: Sirius Decisions, 2014

Customer-Experience Focus

is Key to Growth

Source: Sirius Decisions, 2014

SHARE OF B2B COMPANIES with a customer-experience function

that plan to grow more than 10% this year 54%

49% invest >15% of marketing budget on existing

customers

SATISFACTION

Turning Customers into Advocates

Create Massive Customer Value Surplus

Value to customer

Cost to customer ≈

Customer

expectations

CUSTOMER VALUE SURPLUS

Critically important that

EARLY INTERACTIONS

offer a very high degree of surplus

CUSTOMER ONBOARDING FIRST EXPERIENCE FIRST MONTH FIRST YEAR SUBSEQUENT YEARS

Customer Nurturing

Advocates

Customers

Qualified Leads

Known Prospects

Anonymous Visitors

Lead Nurturing Customer Nurturing

Content is Key to Engagement

Develop a curriculum and

content plan that matches a customer’s

journey. Be both relevant and timely.

Become a trusted advisor by

educating throughout the dialogue.

Reinforce content across

multiple channels.

Best Practice: Automate Communications

Welcome + Access to Resources

Deepening Knowledge

Customer Advocacy Strategy

Requests

Access

to Reciprocity

Education

Experts

Events

Communications

…and Fun!

Referrals

Reviews

References

…and Engagement!

ADVOCACY

What is Advocacy?

What is an Advocate?

One that makes a non-financial

investment in your company.

Nobody Trusts Your Marketing

Friends & peers

Ads, ads &

more ads

The Yelpification of B2B

of the buying process is complete before a B2B prospect contacts a company

of B2B decision-makers begin their buying

process with a referral

of tech B2B customers search for peer testimonials on products

Yelpification Follows Us to Work

Advocacy Drives Value

Across the Revenue Cycle

Generated over 209 high-quality

referral leads in six months.

Generated 164 product reviews

for potential buyers.

Generated over 260 high

quality sales references.

Increased Twitter engagement

by 106%.

Increase social mentions by 66%

and content shares by 45%.

Spurred a 500% increase in

customer award submissions.

5 Steps to Building a Successful Advocate Marketing Program

1.BUILDING CONSENSUS

2. IDENTIFYING & ONBOARDING

3.ENGAGING

4.RECOGNIZING & REWARDING

5.MEASUREMENT

Experience Today

Execution without Coordination SiriusPerspective: Alignment works during the buyer’s journey, but when buyers become

customers, the complexity increases significantly, as do the stakes.

The Venn Approach

Customer Experience SiriusPerspective: Each function must excel in its own area and be coordinated to create an

optimized customer experience.

3.ENGAGING

5.MEASUREMENT

So, Who Are Your Advocates?

Customers and

prospects

Employees

and alumni

Partners

Investors

Client

services

Product

management

Community

marketing

Executive

suite Demand gen

Start by talking to stakeholders in your organization

3.ENGAGING

5.MEASUREMENT

Activity: Building Relationships

“There’s B2B and

B2C, but in the end

it’s all H2H”

DISCOVER CONSIDER PURCHASE RETAIN INSPIRE

SOCIAL

PROMOTION

COMMENTS

PRODUCT

REVIEWS REFERENCES

GROUPS

INTERVIEWS

REFERRALS CASE STUDIES ANALYST

INTERVIEWS

PRODUCT

SURVEYS

CUSTOMER

ADVISORY

BOARDS

3.ENGAGING

5.MEASUREMENT

Status Access

Power Stuff

What Motivates Your Advocates?

10 Ways to Love Your Advocates Back

① Guest blogging opps

② Media interviews

③ Invitations to executive

retreats

④ Invitations to industry

conferences

⑤ Special status at user

conferences

#advocatemktg

⑥ Participation in product

sprints

⑦ Job recommendations

⑧ Social media love

⑨ Introductions & connections

⑩ LinkedIn skills &

recommendations

3.ENGAGING

5.MEASUREMENT

Have a Plan

• Identify an executive

sponsor

• Have an owner!

• Tie advocate marketing

to business objectives

#advocatemktg

Break It Down

increase in referral leads

new customer videos

hour SLA on reference requests

more product reviews

#advocatemktg

Advocate marketing is more than Customer Engagement

– it’s Customer Acceleration.

- Ryan Schwartz, DocuSign

EXTENSION

Crucial to Company Success

Source: Forbes.com

The answers given by 300 marketing leaders of various large companies show the

importance of existing loyal customers to the success of a company.

Which of the following results are integral to your definition of

successful customer engagement?

0% 20% 40% 60% 80%

Repeat purchase behavior

Customers become brand advocates

who market on your behalf

Customer willingness to pay a premium

Customer resistance to competitive

products and services

Customer support for the brand reduces

marketing and sales costs

Customers volunteer time and talent to

improve brand’s products and services

Why Does This Matter?

Customer Retention vs. Customer Acquisition

Number of times MORE COSTLY

it is to acquire a new customer

than to retain an existing one

AMOUNT OF INCREASED PROFITS

that can come from boosting customer retention

rates by as little as 5%

6 7 or

Source: Frederick Reichheld, Bain & Company, published in the Harvard Business Review

25%- 95%

Customer Retention

Customer Nurturing

1. Check in regularly and respond appropriately

Provide relevant content and support based on responses

2. Use multiple channels for regular engagement

Check in by phone, email, social media

3. Analyze and anticipate customers’ needs

Answer those needs with services and timely offers

Wrap Up