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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
© 2009 Forrester Research, Inc. Reproduction Prohibited
4© 2012 Forrester Research, Inc. Reproduction Prohibited
Agenda
Your Buyers Have Changed
Optimize Your Lead-To-Revenue Process
Best Practices In Lead Origination
Your Channels Also Need Enabling
Recommendations
5© 2012 Forrester Research, Inc. Reproduction Prohibited
Agenda
Your Buyers Have Changed
Optimize Your Lead-To-Revenue Process
Best Practices In Lead Origination
Your Channels Also Need Enabling
Recommendations
Changes in technologies plus behavior
Web 2.0 Groundswell
Social media
Video
Rich media
Community
Mashups
Chat
Tagging/voting
Social networkmarketing
Participation
Customerengagement
Dialog
Blogs
Wikis
Socialnetworks
Discussions
Virtual worlds
Advergames
Podcasts
User- generatedcontent
Contentsharing
ViralShared bookmarks
Virtual trade showsWebcasts
© 2012 Forrester Research, Inc. Reproduction Prohibited
The Social Technographics® ladder
Source: January 4, 2012, “Global Social Media Adoption In 2011” Forrester report
Active behaviors
Passive behaviors
© 2012 Forrester Research, Inc. Reproduction Prohibited
European technology buyers adopt social media for business purposes
European BT decision-makers,
for business purposes
60%
53%
80%
67%
82%
99%
1%
European online adults,
for any purpose*
24%
28%
31%
21%
53%
69%
22%
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”
© 2012 Forrester Research, Inc. Reproduction Prohibited
Source: May 7, 2008, “Community Marketing: A New Discipline For Business Technology Marketers” Forrester report
Social catalyzes interactions between sellers and buyers
Old
Market interactions based on products
Scale with media
New
Market interactions based on business outcomes
Scale with social media and communities
© 2012 Forrester Research, Inc. Reproduction Prohibited
Social influences buyers’ decisions in differing degrees
Series10%
5%
10%
15%
20%
25%
30%
35%
“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
Blogs
Professional social networking sites
Virtual events/trade shows
Online video
© 2012 Forrester Research, Inc. Reproduction Prohibited
The “Expectation Gap” is wider in Europe
October 2013 “Mind The Tech Expectations Gap: Make Technology Integral To Company Culture”
© 2012 Forrester Research, Inc. Reproduction Prohibited
Potential Employees Weigh Technology Access In Job Selection Criteria
October 2013 “Mind The Tech Expectations Gap: Make Technology Integral To Company Culture”
© 2012 Forrester Research, Inc. Reproduction Prohibited
European employees are less loyal than you think
October 2013 “Mind The Tech Expectations Gap: Make Technology Integral To Company Culture”
15© 2012 Forrester Research, Inc. Reproduction Prohibited
Agenda
Your Buyers Have Changed
Optimize Your Lead-To-Revenue Process
Best Practices In Lead Origination
Your Channels Also Need Enabling
Recommendations
16
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.
© 2012 Forrester Research, Inc. Reproduction Prohibited
On-demand
webinar!
The Lead-To-RevenuePlaybook
17
18
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
11%
14%
22%
19%
17%
24%
23%
31%
31%
29%
35%
29%
32%
39%
39%
45%
42%
42%
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.
© 2013 Forrester Research, Inc. Reproduction Prohibited
0-9% 10-19% 20-29% 30-39% 40-49% 50-59% 60-69% 70-79% 80-89% 90-100%
3%
8%
18%
16%
19%
13%
11%
7%
3%
0%
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%.
19
© 2013 Forrester Research, Inc. Reproduction Prohibited
Success is not coming from putting more into this output machine!
Average conversion ratios from Forrester’s research
MQL SQL Pipeline Won dealEnd-to-
end
All 32%(N = 211)
32%(N = 196)
28%(N = 201)
26%(N = 195)
0.75%
Top performers
39%(N = 65)
37%(N = 58)
34%(N = 59)
32%(N = 58)
1.54%
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!
20
© 2012 Forrester Research, Inc. Reproduction Prohibited
You learn a lot
from 200
conversations.
What’s going wrong?
21
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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!
© 2013 Forrester Research, Inc. Reproduction Prohibited
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.
© 2013 Forrester Research, Inc. Reproduction Prohibited
It’s time for a new approach.
24
© 2013 Forrester Research, Inc. Reproduction Prohibited
Check out
this report
for more perspective
on that new
strategy.
25
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
26
Our goal now is to . . .
. . . take a single lead through an optimized process . . .
. . . and then repeat that process hundreds or thousands of times.
27
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?
28
Generation of on-target inbound traffic
29© 2012 Forrester Research, Inc. Reproduction Prohibited
Agenda
Your Buyers Have Changed
Optimize Your Lead-To-Revenue Process
Best Practices In Lead Origination
Your Channels Also Need Enabling
Recommendations
© 2013 Forrester Research, Inc. Reproduction Prohibited
Expertise in action
Using Thought Leadership To Attract New Prospects
30
© 2013 Forrester Research, Inc. Reproduction Prohibited
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)
31
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?
32
Lead capturing
© 2013 Forrester Research, Inc. Reproduction Prohibited
Expertise in action
Using Content Marketing To Capture New Leads
33
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/
© 2012 Forrester Research, Inc. Reproduction Prohibited
The L2RM strategy matrix reveals four unique L2RM strategies
September 2013 “Develop Your Revenue Growth And Acceleration Strategy”
38© 2012 Forrester Research, Inc. Reproduction Prohibited
Agenda
Your Buyers Have Changed
Optimize Your Lead-To-Revenue Process
Best Practices In Lead Origination
Your Channels Also Need Enabling
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/)
© 2012 Forrester Research, Inc. Reproduction Prohibited
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?
40
Channel partners seek wide-ranging enablement support
Source: February 28, 2013, “Cloud Channel Trends, 2013 To 2014” Forrester report
© 2013 Forrester Research, Inc. Reproduction Prohibited 42
You need to incentivize for L2RM, not for “sales”
Consideration
Awareness
Evaluation
Purchase
Implementation
Adoption
› Loyalty
› Expansion revenue
© 2013 Forrester Research, Inc. Reproduction Prohibited 43
Source: Forrester Research
Partner’s current business models dictate incentive reengineering
30.0%
25.0%15.0%
12.5%
17.5%
2012
Technical
Sales
Marketing
Purchasing/ order mgmt.
G&A
Consideration
Awareness
Evaluation
Implementation
Adoption
Purchase
Expense Distribution of Channel Partners
© 2013 Forrester Research, Inc. Reproduction Prohibited 44
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 . . .
45© 2012 Forrester Research, Inc. Reproduction Prohibited
Agenda
Your Buyers Have Changed
Optimize Your Lead-To-Revenue Process
Best Practices In Lead Origination
Your Channels Also Need Enabling
Recommendations
© 2012 Forrester Research, Inc. Reproduction Prohibited
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.
47
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
Twitter: @poneillforr
Blog: blogs.forrester.com/peter_oneill