Display Advertising & Buyer's Behavior

8/11/2019 Display Advertising & Buyer's Behavior

1/14

METRICSTHAT MATTER:


2/14

The State of the B2B Buying ProcessFrom online targeting to marketing automation to the constantly evolving world

of social media, theres no shortage of tactics and approaches to help todays

B2B marketers. And while the marketing discipline has never been more exciting

its also never been more challenging. Along with the growth of B2B-specific

technologies and related strategies come prospects who are increasingly savvy

and particularabout the ways they choose to seek out solutions and services for

their businesses. Most B2B prospects do not pick up the phone or fill out online

forms to contact vendors directly. Instead, theyre doing their own online research,

seeking out reviews from their own social networks, and ultimately not engaging

with an actual salesperson until 90% of the B2B purchase process is already

over.1

And if this wasnt enough, according to a recent survey done by Crains BtoB

Magazine2:

81%of B2B marketers say at least 2 people are typically responsiblefor thebuying decision

43%say their B2B buying processes have increased in length

36%of marketers admit that their current marketing mix is not meeting thedemands of the sales pipeline

With longer buying processes, maxed out marketing channels, and the need for

more precise online targeting than ever, whats a B2B marketer to do?

According to Forrester Research, a B2B buyers journey is often ninety percent over before sales is contacted.

1 Lori Wizdo, Buyer Behavior Helps B2B Marketers Guide the Buyers Journey, Lori Wizdos Blog, October 4, 2012,http://blogs.forrester.com/lori_wizdo/12-10-04-buyer_behavior_helps_b2b_marketers_guide_the_buyers_journey.

2 Priming the Pipeline: Driving Awareness, Conversions & Sales, Crains B2B Magazine, 2013.


3/14

Forty-three percent of marketers surveyed by BtoB Magazinesaid their B2B buying processes havelengthened in the past three years.

Display Advertising - A Perfect Fit for B2BWith B2B marketing, there is no one size fits all approach. Depending on the

challenges being faced by marketers in a given time period, some may want to gain

more awareness for their brand in a certain market. At other times, lead generation

and nurturing may be their main focal points to drive more sales.

The beauty of display advertising is that it is uniquely capable to meet this entire

range of B2B marketing challenges. Undoubtedly, channels such as email marketing

and search marketing have made their mark as B2B marketing staples, but both

of these tactics only reach a limited amount of people. For example, you can onlyemail the prospects for which you have contact information; with search, youre only

engaging with those who are actively looking for a solution to their business problem

at this very moment.

With display advertising, you can reach those in your target audience who may not

have even realized they need your product or service yet. At the same time, you

can use a different set of ad creative to nurture those that are in your buying cycle

and already engaged. Finally, you can use display advertising to close the deal

with a conversionwhether that conversion goal is a whitepaper download, a freetrial signup, or a demo request. Display advertising is a B2B marketers best friend

throughout the entire buying cycle or marketing funnelan idea well dive into deeper

a little later in this whitepaper.

Measuring Digital Marketing Success in B2BLong ago, marketing was often considered to be a cost center in the B2B organization.


4/14

Today, nothing could be farther from the truththe majority of B2B marketers are

now data-driven and able to use supporting technologies to measure their success in

highly tangible ways. They can also prove marketings value as a solid contributor to

revenue and the bottom line.

Yet despite these massive leaps, many B2B marketers still struggle with

comprehensive program measurement and value attribution; in fact only 42% of

marketers said they attribute success across the entire marketing funnel. For this

reason, there is a tendency to over-invest in lower-funnel programs that are easiest to

track and measure, since they are closest to the sale conversion. As such, there is the

strong tendency in B2B marketing to apply metrics related to lead generation (leads,

cost per lead, etc.) to almost any sort of online marketing campaign. However, using

leads as the universal language for metrics can be problematic, especially when the

marketing objective is to increase brand awareness or drive engagement.

The Internet and the Evolutionof Advertising MetricsLets go back to the early days of traditional advertising. Before the Internet,

television, print, and radio advertising ruled. Because massive spend was required to

even move the needle, advertising was also limited to the big brands and budgets that

could afford it. As for metrics, reach (the total number of people or households

exposed to an advertising message at least once within a certain period) and

frequency (the number of times people are exposed to an advertising message) were

used to measure the effectiveness of advertising.

Fast forward to today, and the

world of advertising is both

affordable and accessible to all

sizes of businesses. The Web has

made online advertising both

highly targeted and efficient, and

unlike before, companies only need

dollarsnot thousands of dollars

to take advantage of this online

marketing channel.

Thanks to the efficiencies of the Web, small organizations can nowcompete for the same ad inventory as large companies.


5/14

Metrics such as reach and frequency are still important, but the online world has

also given way to a variety of other ways to measure success, depending on where

marketers are looking to make an impact on their marketing funnel.

Display Advertising and theFull-Funnel Marketing ApproachThe notion of the marketing funnel provides a framework

for B2B marketers to both understand the various stages

a B2B prospect goes through (awareness, education,

evaluation, purchase, etc.) and how they need to design

programs to keep their brands, messages, and content in

front of their target audiences at every stage.

In todays age of advanced marketing technologies and

rapidly evolving best practices and strategies, marketers

are in a strong position to cost-effectively reach their

target audiences at every stage of the funnel. But, they

must avoid the pitfall of under-investing in any one stage

of the funnel (e.g. neglecting top-funnel goals such as

branding and awareness can put downstream goals such

as conversions at risk).

The savviest online marketers are employing a diverse set of marketing programs

that impact the entire funnel. Full-funnel marketing is about understanding the

key objectives you need to hit at each stage of the funnel, pinning down the right

metrics to measure progress against those objectives, and then deploying the right

programs to achieve them. While B2B marketers are constantly employing a mix of

programs to achieve a wide variety of goals, display advertising is unique in its ability

to impact all stages as a powerful, full-funnel marketing channel.

For B2B marketers, the key to measuring a program starts with:

Specifically defining the role a program or channelis intended to play in themarketing mix. For example, your corporate website should be used to increase

engagement with your brand, not generate initial brand awarenessdisplay adver-

tising is better suited for this.

TOP FUNNEL IMPACTTOP FUNNEL IMPACT(Brand Awareness)

MID FUNNEL IMPACTMID FUNNEL IMPACT(Content Engagement & Education)

BOTTOM FUNNEL IMPACTBOTTOM FUNNEL IMPACT(Lead Generation & Sales Conversions)


6/14

Aligning metrics to each programbased on its unique role and the goals it aimsto achieve. For instance, if you launch a display advertising campaign in order to

increase awareness of your products or brand among your target audiences, clicks

and click-through rate (CTR) dont make sense as success metricsbut brand

recall or lift in targeted website traffic do.

A Closer Look at Full-Funnel Display AdvertisingSo what does full-funnel marketing look like exactly when we focus specifically on

display advertising? Heres a breakdown of just a few of the different tactics and

metrics that are relevant to particular parts of the funnel.

TOP-FUNNEL DISPLAY ADVERTISING TACTICS

The top funnel is where you focus to increase awareness

and recall of your company and products, and to drive

more of the right traffic to your Website, corporate blog,

or landing pages. Top-funnel campaigns convey what

your company does, why your products are unique, and

why customers should care about your company. Here are

some effective top-funnel display tactics:

Broad business demographic targeting. For the top funnel, marketers candeploy a range of display advertising techniques including broad business

demographic targeting (e.g. targeting all business professionals). Starting outbroadly also enables you to cast the widest net for potential prospects and

optimize to top-performing segments as time goes on.

Company targeting. Company targeting enables marketers to run displaycampaigns against a specific target account list. This can be a useful tactic for

reaching multiple people within a single company that may be involved in the

buying process. However, to ensure the greatest success, company targeting

should be used in conjunction with business demographic targeting so that

youre reaching the right peoplenot just the right accounts.

Video Targeting.Video targeting is a great way to reach the broader audiencesyou are targeting early on in the purchase process. More and more B2B

marketers are investing in video, as its an appealing and digestible format for

content. In fact, in a recent survey done by MarketingProfs and the Content

Marketing Institute, 58% of the B2B marketers surveyed said they found video

to be an effective tactic.3

3 B2B Content Marketing: 2013 Benchmarks, Budgets, and TrendsNorth America, Content Marketing Institute andMarketingProfs.

TOP FUNNEL IMPACTTOP FUNNEL IMPACT(Brand Awareness)


7/14

TOP-FUNNEL DISPLAY ADVERTISING METRICS

Top-funnel measurement can be tricky, which is why many marketers take the easy

way out and simply attribute success to the strength of the last marketing campaign

that touched a deal before it closed. For example, if they have deployed a display

advertising program to fill or accelerate prospects through the funnel, and paid-

search or SEO programs to convert prospects lower in the funnel, they may jump to

the conclusion that search is driving all the new business, which may lead them to

increase their incremental spend on search alone.

Heres the conundrum. If all credit is given to search, and spending on search is

subsequently increased, the shortage of budget in display is likely to adversely impact

the next quarters search results. Simply put, the lower-funnel activity will plateau if

you dont invest in the upper funnel.Well discuss how to best approach attribution

later on in the guide.

Beyond proper attribution, there are several good-fit tangible metrics that you can

track to get a handle on the impact of your upper-funnel display advertising tactics. If

youre reaching more of your target audience higher up in the funnel, you should see a

lift in:

Brand recall. You can run an online brand study that compares increase inawareness among a control group (i.e., people who didnt see your display ad)

to an exposed group (i.e., people who saw your display ad).

Branded search.You should see an increase in the number of people searchingfor your company or products in their search engine of choice.

Targeted traffic to your website.Your website analytics tools should show anincrease in the volume of targeted traffic to your Website.

Form conversions. You should see an increase in the number ofthe right people who are engaging with your website content and submitting

forms (e.g., contact forms, white paper downloads, or free trial signups).

MID-FUNNEL DISPLAY ADVERTISING TACTICS

The middle of the funnel is all about the important

nurturing work that needs to be done to more deeply

orient, educate, and influence a prospects after they

are aware of your brand, but before they are necessarily

ready to engage with a sales repor before they are even

MID FUNNEL IMPACTMID FUNNEL IMPACT(Content Engagement & Education)


8/14

ready to share their personal information (e.g., via a Web form). In B2B, heightened

engagement generally translates to prospects engaging with your content.

When it comes to mid-funnel display advertising, more focused business demographic

targeting and social advertising are effective tactics for getting prospects to engage

more with your brand and your content. Because B2B prospects are active on

social networks, social advertising can be a great way to tap the value of your initial

branding display campaigns, ensuring that you are keeping your lower funnel filled

and growing. Heres a closer look at these mid-funnel tactics:

Business Demographic Targeting (e.g. Job Function, Seniority):Mid-funneldisplay strategies include business demographic-targeted campaigns where

you put your ads in front of specific audiences you are looking to target by their

role and seniority in an organization, wherever they travel across the Web.

LinkedIn Ads: Given the inherent nature of its business-focused network,LinkedIn makes it easy for marketers to target its audience by key business

demographics including industry, job function, and title. You can also target

users according to discussion groups they belong to, such as Digital Media or

IT Professionals.

Facebook Exchange: Facebook offers B2B marketers tremendousopportunities to reach precise business audiences through the Facebook

Exchange (FBX), a real-time bidding system in which marketers can leverage

third-party data to reach their target audiences when they are on Facebook,

and retarget them with highly relevant ads. By partnering with advertising

platforms that enable access to third-party data on business professionals,

Facebook Exchange gives marketers the ability to specifically target users

according to job function, industry, and other business demographic data.

MID-FUNNEL DISPLAY ADVERTISING METRICS

Mid-funnel display metrics are all about gauging content engagement from those

exposed to your display advertisingwhether its downloads, page views, or leads.

Here are a few of the most prevalent metrics for mid-funnel programs:

New Visitors: Display advertising can result in new visitors to your website.

Cost per New Visitor: To optimize the cost of acquiring a new prospect,divide your total campaign cost by the number of new visitors introduced

by display advertising.


9/14

Page view lift:As your branding efforts begin to drive more people toyour Website, mid-funnel display advertising takes the baton. If executed

effectively, your target prospects should be spending more time engaging

on your Website.

Web form lift %:The middle of the funnel is where all that investment in

developing quality downloadable content (i.e., white papers and case studies)

begins to pay off. You can use website form lift as a key metric to gauge the

success of mid-funnel programs.

Search lift:As people begin to recall and connect more to your brand,youre likely to see a lift in search metrics against both branded and keyword

search terms.

Leads:As your target audience gets drawn into your content, they will be morewilling to share their personal info (fill out your Web forms) to get at it. Look for

more leads from your effective mid-funnel programs.

Remember, the goal of mid-funnel display advertising is to increase the velocity

by which prospects move through the funnel. Using display advertising to nurture

and further your prospects engagement with your brand will prime the pump for

lower-funnel tactics such as search and email marketing to get their jobs done, and

accelerate conversations in the field.

BOTTOM-FUNNEL DISPLAY ADVERTISING TACTICS

With the awareness-building and nurturing work you

have done higher up in the funnel, you should now have a

healthy, growing pool of target prospects that are ready

to share information, check out your free trial, and

possibly engage with your sales team. Bottom-funnel

display advertising strategies including retargeting and

keyword targeting, which can both help move these

prospects from consideration to conversion:

Website retargeting. Through website retargeting, you can retarget display adsto people that visit your website, blog, or landing pages that you set up in your

marketing automation system.

CRM retargeting.Youve already invested significant marketing dollars incapturing leads and contacts in your internal database. CRM retargeting

enables you to target ads to these valuable prospects, giving you a powerful

new way to reach them beyond their inbox.

BOTTOM FUNNEL IMPACTBOTTOM FUNNEL IMPACT(Lead Generation & Sales Conversions)


10/14

Keyword targeting. Keyword targeting allows you to combine search withdisplay to reach audiences with display ads after theyve performed a search

using specific key terms. Using this tactic, you can catch your target audiences

while theyre thinking about relevant topics to make a timely impression.

BOTTOM-FUNNEL DISPLAY ADVERTISING METRICS

Here are a few of the most prevalent metrics for bottom-funnel display advertising

programs:

Leads (total, cost per lead):Based on the trust you have built higher in thefunnel and the content that prospects consume lower in the funnel, your target

audience is now primed to share their personal info with you by filling out your

Web forms.

Overall website form conversion lift percentage:You should see a continuedspike in Web form conversions as you deploy your bottom-funnel display

tactics. In particular, measure lift in your Contact Form conversion rates to

gauge success.

Opportunity contribution:Since lower-funnel display advertising touchesprospects close to the point of conversion, you can readily tie and attribute

their influence to opportunities that make it into your sales pipeline.

Revenue contribution:Similar to pipeline contribution, you can also tie lower-funnel programs more easily to revenue contribution, as you track opportunities

to closed business.

Display Advertising Metrics in Action | Case Study

Zuora, a SaaS company that offers solutions for decision makers

in sales, marketing, and finance alike, uses display advertising to

make a full-funnel impact: increasing brand awareness; driving

targeted audiences to the Zuora website; and building sales pipeline. Heres

a snapshot of the results they achieved:

21%lift in brand recall

182%increase in page views

More than 1,000 conversionsfrom precisely targeted business audiences


11/14

Attribution and Display AdvertisingIn a Crains BtoBsurvey, more than one-third (36 percent) of respondents reported

their biggest online marketing challenge is accurately measuring and attributing online

conversions to the correct marketing channels. And less than half (42 percent) of

marketers say they attribute success across the entire marketing funnel.4

WHY DO MANY B2B MARKETERS FIND ATTRIBUTION SO DIFFICULT?

Most B2B prospects interact with a brand through multiple marketing touchpoints

(display, email, search, etc.) before making a purchase. However, as we touched upon

earlier, many B2B marketers are accustomed to taking a last touch approach when it

comes to marketing attribution, essentially giving ALL the credit to the program that

was last to touch a lead before it became an opportunity.

In the example below, youll see a sample marketing touch sequence that depicts

a typical buying process in which the prospect was introduced to a product via

a display ad, continued to engage through the paid search channel, and was last

touched by an email before making the actual purchase. Despite the contributions of

multiple channels, all credit is given to email and the work done by display and search

is ignored. This approach overstates the value of lower-funnel contributions, and

undervalues the programs that created awareness and nurtured higher in the funnel.

As you can see, relying on a single source of attribution for a lead or opportunity

can be misleading, as more often than not, prospects are touched by more than

one marketing channel in their journey toward a purchase. As weve been discussing

throughout this guide, display is a unique marketing channel in that its impact can

be felt over time and seen across the entire marketing mix. As such, it is particularly

In this marketing touch sequence, all credit is given toemail, which is an ineffective way to measure the value ofyour marketing programs.

INTRODUCE

Display

Impression

INFLUENCE

SEM

CLOSE

Email

123

Total

Conversion

Actions

4 Priming the Pipeline: Driving Awareness, Conversions & Sales, Crains BtoB Magazine, 2013.


12/14

important to avoid using the click or click-through rate as an indicator of success.

Instead, set up an attribution model that gives credit to more than the last touch

that occurs.

Basic Attribution ModelingSimple ValueAttribution Gets You 80% of the BenefitWhile there are various attribution models available that vary in complexity, even the

simplest attribution model can drastically improve the accuracy of your marketing ROI

measurements. If youre just getting started with attribution modeling, start with even

attribution (shown below). In this model, credit is evenly distributed among all the

channels involved. While fairly basic, this model will provide you with a more accurate

depiction of which channels are driving the most value for your marketing dollar.

Remember, if youre doing a good job at the top of the funnel, then youll have more

of the right prospects in your sights to educate, and a greater percentage of that

nurture pool will in turn be ready to take the next step when you touch them with

your bottom-funnel programs.

ConclusionThe marketing funnel is alive and well, and can offer B2B marketers a great framework

for developing a diverse set of marketing programs that will ensure they reach their

target audience early, often, and throughout the buying process. But remember

its less important to dabble in every single marketing tactic available to you, and

more important to make sure that for the tactics you do choose to employ, youre

using the success metrics that align best with the goals youve set for yourself and

your company.

INTRODUCE

Display

Impression

41 Actions 41 Actions 41 Actions

INFLUENCE

SEM

CLOSE

E-mail

123

Total

Conversion

Actions

By using even attribution, marketers can move beyond the last touch and achieve greateraccuracy in their ROI metrics.


13/14

Glossary of Display Advertising Metrics

Brand Awareness Impact:Total number of new people that would be aware ofyour brand.

Brand Recall:Percentage increase in your target audiences familiarity with yourbrand and understanding of its value.

Branded Search Lift:Percentage increase in the number of website visitors who

search specifically for your brand name in search engines.

Clicks:Total number of times display ads are clicked in a certain time period.

Click-through Rate (CTR):A percentage, calculated by dividing total clicks by totalnumber of impressions delivered, multiplied by 100.

Conversion Lift:Lift in total number of conversions through the corporate website,landing pages, etc.

Conversion Rate:Percentage of visitors that complete a specified action (e.g.filling out a contact form).

Cost per Action:Total campaign cost divided by the number of completed actionsor conversions.

Cost per Click:Total campaign cost divided by total number of clicks.

Cost per Lead:Total campaign cost divided by total leads converted.

Cost per New Visitor:Total campaign cost divided by new visitors introduced bydisplay advertising.

Cost per Page View:Total campaign cost divided by display advertising-driven

page views.

Cost per Visit: Total marketing cost divided by total number of visits; total displayadvertising campaign cost divided by campaign-driven visits.

Impression:The serving of one display ad online.

Impressions Delivered against Target Audience:Total number of display adsserved (or displayed) to a defined target audience.


14/14

Leads:Individuals that a company views as potential customers.

Lead Quality:An indicator of how likely a lead is to become a customer.

Lift in Page Views per Visit:Increase in the amount of Web content consumed byvisitors on each unique visit.

New Visitors:Visitors who have not previously visited your website.

Opportunity Contribution:In display advertising, the direct effect of advertising onthe creation of new business opportunities.

Page Views/Visits:Total number of pages viewed in a defined time period.

Revenue Contribution:In display advertising, advertisings direct contribution tonew revenue generated.

Share of Voice:A brands exposure to a specific audience relative to otheradvertisers who are bidding on the same audience.

Targeted Reach:Total number of unique individuals in a specific target audiencethat you have access to via display advertising.

Target Audience Time on Site Lift:Increase in time spent on the website byspecific target audiences.

Target Audience Website Traffic Lift:Increase in website traffic from specifictarget audiences.

Total Visits:Total number of website visits from both new and returning visitors.

Website Content Engagement Lift:A lift in website activity which can be shownby an increase in several metrics including Target Audience Time on Site Lift, Page

Views/Visits, Conversion Lift, and more.

866.497.5505 | www.bizo.com | Follow us on Twitter: @bizo

Date post:	02-Jun-2018
Category:	Documents
Upload:	vinoth
View:	222 times
Download:	0 times

Display Advertising & Buyer's Behavior

Documents