Forrester bd webinar 6 Nov 2013

transcript

Making Leaders Successful Every Day

Accelerate Revenues For Technology Products And Services In Europe

Peter O’Neill, Vice President & Principal Analyst

Forrester Business Development Webinar For EMEA Clients

November 6, 2013

Agenda

Your Buyers Have Changed

Optimize Your Lead-To-Revenue Process

Best Practices In Lead Origination

Your Channels Also Need Enabling

Recommendations

Agenda

Recommendations

Changes in technologies plus behavior

Web 2.0 Groundswell

Social media

Rich media

Community

Mashups

Tagging/voting

Social networkmarketing

Participation

Customerengagement

Dialog

Socialnetworks

Discussions

Virtual worlds

Advergames

Podcasts

User- generatedcontent

Contentsharing

ViralShared bookmarks

Virtual trade showsWebcasts

The Social Technographics® ladder

Source: January 4, 2012, “Global Social Media Adoption In 2011” Forrester report

Active behaviors

Passive behaviors

European technology buyers adopt social media for business purposes

European BT decision-makers,

for business purposes

European online adults,

for any purpose*

78% of European BT

Decision-makers

engage in some formof social

activity while working.

Base: 14,110 Euro-5† online adultsBase: 1,960 European BT decision-makers at

companies with 100-plus employeesSource: European Technographics Online Benchmark Survey, Q3 2012† Euro-5 is Germany, France, Italy, Spain, UK

Social media by country

July 2013 “The Social Behaviors Of Your B2B Customers”

Source: May 7, 2008, “Community Marketing: A New Discipline For Business Technology Marketers” Forrester report

Social catalyzes interactions between sellers and buyers

Market interactions based on products

Scale with media

Market interactions based on business outcomes

Scale with social media and communities

Social influences buyers’ decisions in differing degrees

Series10%

“Across each stage of the adoption process, which of the following sources of information influences your decision-making?”

Base: 1,001 US and European business technology decision-makers at companies with 100 or more employees

Source: Q1 2011 US And European B2B Social Technographics® Online Survey For Business Technology Buyers

Awareness Scope Plan Select Implement Roll out

Support/discussion forums

Professional social networking sites

Virtual events/trade shows

Online video

Facebook

Twitter

The “Expectation Gap” is wider in Europe

October 2013 “Mind The Tech Expectations Gap: Make Technology Integral To Company Culture”

Potential Employees Weigh Technology Access In Job Selection Criteria

European employees are less loyal than you think

Agenda

Recommendations

What is lead-to-revenue management?

L2RM is everything that we, as marketers, do to engage our customers on their journey from need to value.

As we engage, we learn more about them and develop a relationship for our company as a trusted advisor and supplier.

And it’s the process we develop to optimize customer engagement.

On-demand

webinar!

The Lead-To-RevenuePlaybook

Source: Forrsights Business Decision-Makers Survey, Q4 2012

Manage brand consistency globally

Address rising competition for your products/services

Comply with government regulations and requirements

Grow in emerging markets

Improve the firm's ability to innovate

Lower the firm's overall operating costs

Address the rising expectations of customers and improve customer satisfaction

Grow overall company revenue

Acquire and retain customers

Critical priority

High priority

“Which of the following initiatives are likely to be your organization’s top business priorities over the next 12 months?”

Base: 2,191 global business decision-makers in firms with 1,000-plus employees

Why L2RM matters

Yet only 47%

of tech marketers

have a managed

process for L2RM.

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

What percentage of your pipeline is marketing sourced?

There is room for improvement

On average, B2B marketers are generating 40% of the sales pipeline.

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

65% are generat

ing less

than 50%.

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

Average conversion ratios from Forrester’s research

MQL SQL Pipeline Won dealEnd-to-

All 32%(N = 211)

32%(N = 196)

28%(N = 201)

26%(N = 195)

Top performers

39%(N = 65)

37%(N = 58)

34%(N = 59)

32%(N = 58)

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!

You learn a lot

from 200

conversations.

What’s going wrong?

Most common inquiries on L2RM

Why don’t my email campaigns work anymore?

How can I get some lift from social?

How can I better leverage inside sales?

Help me improve

conversions!

Most common inquiries on content marketing

Collateral just sits there and ages.

Few people read our blogs.

Communities are not joined.

Landing pages are unvisited.

It’s time for a new approach.

Check out

this report

for more perspective

on that new

strategy.

It’s not about . . .

. . . moving masses of “leads” through a sequential process of attrition until tens or hundreds of deals emerge.

Attract Capture Nurture Sell Expand

Our goal now is to . . .

. . . take a single lead through an optimized process . . .

. . . and then repeat that process hundreds or thousands of times.

A targeted lead is

captured.

A marketing qualified lead is

created.

Targeted inbound traffic is

generated.

Develop and execute an outbound campaign strategy.

SEO: Optimize site for organic

search.

Target buyer profiling is developed.

Create visibility through public

relations.

Engage prospects in social media.

Targeted go-to-market campaign

strategy is developed.

Create visibility through print advertising.

What does it

take these

days to

generate on-

target

inbound

traffic?

Generation of on-target inbound traffic

Agenda

Recommendations

Expertise in action

Using Thought Leadership To Attract New Prospects

Driving revenue in a tough economy

• Targeted audience: SMB B2B companies

• Multifaceted initiative:

• Outbound email campaigns

• Physical events

• Press relations

• Social media

• Drove results:

• Over 550 leads generated

• Influenced 20-plus won deals

Image source: Act-On Software website (http://www.act-on.com/drive)

A targeted lead is

captured.

A marketing qualified lead is

created.

Targeted inbound traffic is

generated.

Make compelling

offers in your outbound and social

campaigns.

Develop best-practice

landing pages.

Marketing automation

exists to capture and

manage inbound leads.

Optimize pay-per-click campaigns to capture leads

Make offers on your website.

Participate in trade shows and industry

events. What are

the best practices

for capturing leads?

Lead capturing

Expertise in action

Using Content Marketing To Capture New Leads

Forrester content marketing campaigns

Length/complexity of buying process

Complexity of product or solution

L2RM has a strategy matrix

Low product complexity

Low buying processcomplexity

Low product complexity

High buying process complexity

High product complexity

High buying process complexity

High product complexity

Low buying process complexity

September 2013 “Develop Your Revenue Growth And Acceleration Strategy”

SAP develops trust for more complex solutions offerings

• SAP engaged Mi6 Agency to develop and sponsor the CFO Intellectual Xchange Network (IXN).

• Use Traackr to find key influencers and match them with execs/customers who provide content and resources.

• IXN members have also received exposure via SAP's owned media.

• Result: more than 500,000 impressions and the sharing and promotion of their content.

Source: http://cfoixn.com/about-the-ixn/

The L2RM strategy matrix reveals four unique L2RM strategies

September 2013 “Develop Your Revenue Growth And Acceleration Strategy”

Agenda

Recommendations

Operating in the cloud is like a horse with stripes

A few similarities, yes, but lots of differences

Image source: 123RF (http://www.123rf.com/)

What are channel pros pondering?HOW DO WE GET THE CLOUD CHANNEL TO FULL BORE?

What do we need to do to help our partners transform their

business models?

What do we do with implementation-

dependent partners?

Who owns the data center? Who owns the customer?

Can partners survive on smaller

margins?

Can we continue to view our partners through a siloed business model

lens (VAR vs. MSP vs. hoster, etc.)?

Should we pursue a reseller or service provider strategy?

Channel partners seek wide-ranging enablement support

Source: February 28, 2013, “Cloud Channel Trends, 2013 To 2014” Forrester report

You need to incentivize for L2RM, not for “sales”

Consideration

Awareness

Evaluation

Purchase

Implementation

Adoption

› Loyalty

› Expansion revenue

Source: Forrester Research

Partner’s current business models dictate incentive reengineering

25.0%15.0%

Technical

Marketing

Purchasing/ order mgmt.

Consideration

Awareness

Evaluation

Implementation

Adoption

Purchase

Expense Distribution of Channel Partners

The era of the self-transacting customer is nigh

Customers will engage partners for education and implementation, but they will increasingly transact through online marketplaces. What then?

Incentive programs will change . . .

Vendor

Customer engages:

AwarenessFor . . .

Partner ConsiderationFor . . .

Partner EvaluationFor . . .

VendorPurchaseFor . . .

Partner ImplementationFor . . .

Partner AdoptionFor . . .

Agenda

Recommendations

Key takeaways

Your buyers tap into communities for information and interactions.

Choose your approach based on your customers and resources.

Context is a critical design element. Don’t take shortcuts!

Create compelling content; in Europe, the Middle East, and Africa (EMEA)

that means local content for local buyers.

Your buyers have changed, so you also have the opportunity to change.

Engage with Forrester through . . .ANALYST ADVISORY AND RESEARCH-BASED CONSULTING

Analyst engagement

One-on-one advisory sessions with Forrester analysts to leverage their research and expertise.

One- or two-day intensive workshops in which analysts use research-based best practices to enhance your team’s skill set.

Research-based consulting engagements with analysts deliver the objective, action-oriented recommendations you need in a condensed timeline. Work closely with our analysts to apply their proven expertise to your big initiatives.

Thank youPeter O’Neill

+49 69 959298 39

poneill@forrester.com

Twitter: @poneillforr

Blog: blogs.forrester.com/peter_oneill