Best practices in B2B marketing

Best practices in B2B marketing

Canadian Marketing Association

Jeff Lowe

April 29, 2009

TELUS Business Solutions

Is B2B marketing becoming obsolete?

“B2B marketers can no longer afford to emphasize lead volume

over lead quality.”

“B2B marketers can no longer afford to emphasize lead volume

over lead quality.”

“Marketers Need a More Systematic

Approach to demand Generation”

“Marketers Need a More Systematic

Approach to demand Generation”

“B2B Marketers Fail the Community Marketing Test”“B2B Marketers Fail the Community Marketing Test”

“Rapid Growth of Lead Databases Posing New Challenges For BtoB Marketers”“Rapid Growth of Lead Databases Posing New Challenges For BtoB Marketers”

“B2B Marketers Struggling to Integrate Web 2.0 Strategies Into Marketing Mix”

“B2B Marketers Struggling to Integrate Web 2.0 Strategies Into Marketing Mix”

“How to avoid B2B Marketing Obsolescence:Community Marketing Transforms the Marketing Role”

“How to avoid B2B Marketing Obsolescence:Community Marketing Transforms the Marketing Role”

“B-to-B Marketers Must Sharpen Measurement Tools”“B-to-B Marketers Must Sharpen Measurement Tools”

“B2B marketing needs a makeover – NOW!”“B2B marketing needs a makeover – NOW!”

B2B marketers face different challenges than B2C

• B2B buying requires complex orchestration of activities between multiple parties

• B2B addressable market is

a few thousand at best

• Therefore, success is less about generating demand than fostering relationships

Buying process characteristics

B2C B2B

Decision makers Individual Many

Decision duration Short Long

Purchase approval None Multilevel

Product cost Low to medium High

Pricing style Retail Negotiated, contractual

Consideration Low to medium High

Channels Retail, dealers Distributors, service providers. VARs

Predominant Web usage

Price compare/purchase

Gather information/evaluate

Loyalty Short term Longer term

Five marketing best practices for B2B marketers

5 Measurement: Make quantitative measurement the foundation to accountability and closed-loop marketing.

4Integration: Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional, interactive and social media.

3Loyalty: Quantify customer lifetime value and market to customers to advance them from retained, to satisfied, to loyal, to advocates.

2 Demand management: Move from generating demand to actually managing it.

1 New online media: Enhance relationships with customers through social media strategies and online community marketing

Five best practices


Five best practices






Prospects & decision makers rely on each other & the Web

“When researching telecom products, how important are these media for informing your purchase decisions?”

Base: 2187 telecom and network decision makers Source: Enterprise And SMB Networks And Telecom. Survey, North America And Europe, Q1 2008

Media/information source Highly important

Peer/WOM 36%

Vendor Web Site 34%

Trade/ Industry magazine Web Site 34%

Consultants/VARs/SIs 21%

Trade magazines/publications 20%

Forums/communities 20%

Trade shows and conferences 19%

Blogs 15%

Webinars or online events 14%

Web 2.0: video, podcasts, Internet apps, RSS, etc. 14%


Social marketing in B2B: Where to start?


Start by monitoring your share of voice

Social media share of voice in the last 30 daysTotal number of posts based on 2971 conversations

TELUS


Example: A different kind of product launch


Social media: Watching the story go viral

Jan 22: MobileSyrup.com posts teaser blog

BlackBerryRocks.com reposts story with link to Noordinaryphone.com

Jan 19: Agency invites MobileSyrup.com to the event via

email1



BerryReview.com

TheBlackBerryBlog.com

BlackBerryHomePage.com

DejaTalk.com TopBlackBerryNews.com

MBsTechNews.comIntoMobile.com

Jan 27: MobileSyrup.com posts 8350i launch announcement with pricing2



Mippin.com

IntoMobile.com*

NewMobileTech.com

TopBlackBerryNews.com*

CDMAandGSM.com

TelephoneIssues.com NewTechDirectory.com

MBsTechNews.com

Mobeel.mobiCrackBerry.com*

PhonesReview.co.ukBlackBerryNews.com

*With link to Noordinaryphone.com

Jan 28: MobileSyrup.com posts from launch party at AIM Autosport (including a link to Noordinaryphone.com)

3


Invitations distributed to bloggers and journalists

Product and pricing announced to media

Live blogging at media/blogger event held at AIM Autosport

MobileSyrup.com posts teaser blog

Engadget reviews BlackBerry Curve 8350i

AIM Autosport video posted to YouTube

Online editorial outreach: Momentum building


16 media & bloggers attended the event (target was 10)

113 blog posts

5 YouTube postings

7 online articles

1 forum posting

3 print article

24 Twitter posts

Over 10,000,000 impressions

~$2M advertising value for 5% of the cost

Results to date

“Today was no ordinary day for the folks at TELUS. With the launch of the highly

anticipated BlackBerry 8350i, also came a by invitation

only launch event, hosted at a unusual venue.

This has to be one of the very first events I have been to;

that successfully demonstrated the importance of the technology that

is being celebrated.”

16 media & bloggers attended the event (target was 10)

113 blog posts

5 YouTube postings

7 online articles

1 forum posting

3 print article

24 Twitter posts

Over 10,000,000 impressions

~$2M advertising value for 5% of the cost

“Here's a cool way to do up the launch event for a new smartphone...

TELUS made official their BlackBerry Curve 8350i by holding the press event on location at AIM Autosport, a company (they race

stuff fast stuff across North America) that takes advantage of the

Push to Talk services offered by TELUS’ Mike system. Sweet.

If you have 10 minutes to kill, it's a good vid to watch.

Low key, but honest.”


Key takeaway #1

With new social and online media, start by monitoring what is being said about you

versus leaping into tactics


Five best practices






The case for demand management

Source: October 4, 2006, “Improving B2B Lead Management” report, Forrester Research


Manage demand, don’t just generate it

Sou

rce:

Siri

us D

ecis

ions

The old way The new way

HAND OFF TO SALES

GENERATE

LEADS

CLOSED/WON BUSINESS?

CLOSED/WON BUSINESS.

Total number of handraisers Unique metrics for current customers

Definition through sales/marketing SLA

Marketing deems ready for handoff

Basic qualification tenets met Sales agrees to work leads

Opportunity identified Now part of pipeline

Booked revenue IDs topline contribution

SALES QUALIFIED

LEADS

SALES ACCEPTED

LEADS

MARKETING QUALIFIED

LEADS

INQUIRIES


Results from a 2-week period

Channel MQLs Unqualified Not Actioned Open Contacted SQL

Total 132 5 26 44 42 15

Total Opt-ins (or Inquiries) Requires Nurturing MQL

429 297 132

So what?

132 leads scored by marketing/sales as qualified

85% of leads accepted by within 8 hours

297 marketing leads for nurturing – In past campaigns these would have been lost or passed over to sales as poor leads.

Closed loop reporting: marketing automation interface with sales automation

6 10% Probability of closing




2 Closed


Key takeaway #2

All leads are not created equal. Collaborate with Sales on how to score leads, nurture inquiries, and track closed business


Five best practices







So what are the key drivers of loyalty in B2B?The Marketing Leadership Council explored more than

100 marketing practices and capabilities commonly believed to contribute to customer loyalty.

SOURCE: Marketing Leadership Council Loyalty Survey,Marketing Leadership council research.

SAMPLE ATTRIBUTES TESTED FOR IMPACT ON LOYALTY


The road to loyalty is through ‘Satisfaction Station’The jury is still out.

SELECT ATTRIBUTES THAT ARE NOT STATISTICALLY SIGNIFICANT

SOURCE: Marketing Leadership Council Loyalty Survey, Marketing Leadership council research.

• Responding promptly to customer concerns

• Comprehensiveness of customer problem resolution process

• Single point of contact for customer problem resolution

• Formal protocol for follow-up with disloyal customers

• Executive-level loyalty sponsorship teams

• Frequency of account manager turnover

• Resources allocated to customer problem resolution

• Set realistic (not inflated) customer expectations

Attributes associated with eliminating dissatisfaction – while critical for satisfaction – seem to have no discernible impact on loyalty

“The road to Loyalty Town goes through Satisfaction Station”

FIXING DISSATISFIERS IS

TABLESTAKES.

Drivers of customer loyaltyDrivers by percentage contribution to customer loyalty

Per

cen

tag

e o

f co

ntr

ibu

tio

n t

o c

ust

om

er l

oya

lty

Company and

brand impact

Product andservice delivery

Value-to-price ratio

Purchase experience with Sales

MLC1AUTL23 © 2009 Corporate Executive Board. All Rights Reserved.

Long-term drivers of loyalty Short-term drivers of loyalty

52%

19%

9%

19%

MLC1AUTL23 © 2009 Corporate Executive Board. All Rights Reserved.

Purchase experience loyalty driversGREATEST DRIVERS

OF LOYALTY

WEAKEST DRIVERS OF LOYALTY

GREATEST DRIVERS OF

LOYALTY

WEAKEST DRIVERS OF LOYALTY

DE

CIS

ION

MA

KE

RS

END-USERS AND INFLUENCERS

Helps me avoidpotential land mines

Supplier has widespreadsupport across my organization

Supplier is easyto buy from

Helps menavigatealternatives

Offers unique,valuable perspectiveson the market

Educates me on newissues and outcomes

Provides ongoingadvice or consultation

Helps mequantifyfinancial value

Portrays a realisticpicture of purchasecosts and difficulties

Helps me improve myprofessional standingand meet KPIs

Advocates for mewithin the organization

Demonstratesa high level ofprofessionalism

Helps me shortenthe buying cycle

Matches communicationsto my preferences

Collaborates withother suppliers

Remains readilyaccessible

Excels in diagnosingour specific needs

Productively acceleratesdecision making

Supplier adjusts toour unique needsand specifications

UNIVERSAL VALUE OF TEACHING

While decision-makers and end-users differ significantly on many loyalty drivers, both value suppliers’ ability to teach.

Key takeaways

In response to a challenging economic environment, Sales and Marketing have aligned around a focus on customer loyalty – because it is the fastest, most profitable path to growth.

In the short-term, the customers’ purchase experience is, by far, the largest single driver of customer loyalty – larger than product, brand, service, or even price.

The most effective method for differentiating the purchase experience is to deliverteaching interactions that reframe the way a customer assigns value to areas where the supplier outperforms its competitors.

Accordingly, leading organizations create effective teaching interactions by addressing the following three key questions:

•What should I teach my customers?

•How do I enable sales reps to teach?

•How do I increase customer demand for teaching?

1

2

3

4


Stage 0

Strategic value

high

Time and effort required

low

Product selling Consultative selling

Product pusher

Researcher

Benchmarker

Strategic facilitator

Stage 3

Stage 2

Stage 1

6 SOURCES OF INSIGHT

Lead with products, solutions and benefits

Q: When do I use this?

A: All accounts


A: Top 10 to 20 accounts


A: Key “must win” deals

Stages of insight and the TELUS teaching tools that align

8 TOOLS

6 TOOLS

5 TOOLS


Key takeaway #3

The sales experience is the biggest driver of loyalty in B2B. Marketing’s role is to enable

the sales force to teach.


Five best practices







Integrated approach

Emotion Experience Relationship

Print/radio

Sponsorships

Online adsAd

vert

isin

g

Events

Sales interactions

Email, direct mail

Pro

gra

ms

Web site

Social marketing

Online ads

Web

…because every buyer is a person. To truly engage that buyer,

you need a coordinated mix. Individual tactics won’t achieve that.

$

TacticsCustomer

buying cycle


Integrated approach

Event Request Card

Online Ads

Social Media Conversations

Radio

Telemarketing Response

Email/Direct Mail Response form

Opt-in to Permission Based Email Database

Print

Awareness

Interest

Desire

ActionLeads to

Sales Channels

5.6 million Impressions

142,000 Inquiries

3% conversion from impressions

5,000Marketing

Qualified Leads3% conversion from Inquires

Web Site Request forms

Search Engine Click Thru’s

500 Sales10% conversion rate from MQL

Sponsorships SEM/SEO

EmailDirect Mail


Key takeaway #4

There is no “silver bullet” tactic. The key is to deploy tactics in an integrated

and coordinated fashion.


Five best practices







Focus only on marketing investments strategically important to the company – then execute, measure and optimize.

Marketing dashboard hierarchy

Marketing Goals & Objectives

Organizational Strategy

Marketing Activities


TELUS Business Solutions marketing dashboard2009 Marketing Programs and Customer Communications Dashboard – January YTD

Imperative Weight KPI 2008Actual

2009 Target

Imperative 1

Imperative 2

Imperative 3

Imperative 4


Key takeaway #5

When it comes to measurement, define marketing objectives together with non-marketing executives and in context of broader organizational objectives


Summary: Key takeaways

1. Social media strategies.With new social and online media, start by monitoring what is being said about you versus leaping into tactics.

2. Demand management.All leads are not created equal. Collaborate with sales on how to score leads,nurture inquiries, and track closed business.

3. Loyalty.The sales experience is the biggest driver of Loyalty in B2B. Marketing’s role is to enable the sales force to teach.

4. Integration.There is no “silver bullet” tactic. The key is to deploy tactics in an integrated and coordinated fashion.

5. Measurement.When it comes to measurement, define marketing objectives together with non-marketing executives and in context of broader organizational objectives.

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Best practices in B2B marketing

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