Demand Generation + Marketing Technology
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Your presenters
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Malcolm Friedberg President
• Client experience: Dell, Intuit, Avery Dennison, McKesson, Motorola, Lenovo
• Marketing leadership: CMO, Euphonix; VP Marketing, Metrocities Mortgage, Wholesale Division
Twitter: @malfried
Adam Needles VP, Demand Gen Strategy • Client experience: E*TRADE,
Motorola, Pitney Bowes, Target, Platinum/CA, Dell, Brady Corp., Lenovo, PTC, UW Credit Union
• Marketing leadership: B2B Marketing Evangelist + Director, Field Marketing, Silverpop; VP Marketing, The 451 Group
Twitter: @abneedles
We Are a Demand Gen Agency § Left Brain helps enterprise marketing organizations
design and execute successful, modern demand generation programs.
§ Left Brain combines: – Process: Leverage TLBM proprietary approach – Content: Centered around Buyer 2.0 – Technology: Powered by marketing automation
§ Left Brain delivers strategy, production (content, campaigns + tech), analytics and optimization.
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Agenda § State of Modern Demand Generation § Buyer 2.0 + the Modern B2B Buying Process § Demand Generation 2.0
– One-to-one nurturing dialogue – Content marketing
§ Marketing Technology – The technology stack – Bringing it into your organization
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STATE OF MODERN DEMAND GENERATION
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B2B demand-gen is a numbers game
§ Only 2-5% of raw inquiries coming into the top of the B2B marketing and sales ‘funnel’ convert to sales.
§ 25-30% of B2B marketing databases have bad or incomplete records.
Source: SiriusDecisions Summit 2010
§ Overall US CRM adoption has grown from 53% in 2003 to 75% in 2010. (CSO Insights)
§ UK enterprise CRM adoption exceeded 50% for the !rst time in 2009. (UK Office for National Statistics)
§ US Marketing automation adoption is 7-10%, projected to rise to 30% by 2015. (SiriusDecisions)
Sources: SiriusDecisions Summit 2010; UK Office for National Statistics, “Use of Information and Communication Technology (ICT) and e-commerce activity by UK businesses”; CRM Magazine, "CRM: Then and Now"
We look to technology for a solution
Best-in-class nurturing pays off
Best-in-class results:
§ Double the bid-to-win ratio on nurtured leads
§ Nurtured leads delivered 47% higher average order values
Source: Aberdeen Group, "Lead Nurturing: The Secret to Successful Lead Generation"
Among adopters of marketing automation technology, “fewer than 10% of them are deploying those tools to address programs later in the buying cycle.”
Source: Heuer, Email Interview re: SiriusDecisions Sea Change Data
We’re challenged in using technology
Technology alone is not a solution
Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"
We can’t just "ood our reps “[S]ales reps that focused on fewer, more winnable deals tend to do better. Flooding the rep with low quality/high quantity leads only increases their inefficiencies … .”
Source: SiriusDecisions, “The Perfect Pipeline: When Less Is More”
Today’s Demand Gen Challenges…
§ The traditional B2B model is broken § Advent of Buyer 2.0 § Going from mass marketing to one-to-one § New role of social / inbound § Analytics + marketing’s revenue contribution § Connecting content offers to revenue
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Discussion: Your demand generation environment
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BUYER 2.0 = THE MODERN B2B BUYING PROCESS
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Information consumption patterns of B2B buyers are rapidly changing.
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And power is shifting from sellers to buyers …
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17 Source: Brett King, Bank 2.0
A new digital divide for #nance?
The B2B case …
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Inbound is more critical than ever “Currently, more than half of all new inquiries are generated through the Web; we believe that by 2015, this number will rise to nearly 75%. Inbound marketing [is not] new in theory, but ... marketers must plan for it ... .”
Source: SiriusDecisions, “Inbound Marketing, the Sirius Way”
Turning to online sources ...
Source: Enquiro, “Integrated Persuasion: Online and Offline”
Peer in"uence is king ...
Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
Leveraging social media ...
Source: B2B Marketing/Base One, "BUYERSPHERE, Survey of B2B Buyers' Use of Social Media"
Buyer 2.0 listens to groundswell.
Source: B2B Marketing/Base One, "BUYERSPHERE, Survey of B2B Buyers' Use of Social Media"
Financial pros use of social media “76% of !nancial professionals use social technologies at least monthly for business purposes.”
Source: Forrester, “Building Successful B2B Financial Services Social Marketing Programs”
Yet we turn more to email in B2B • 89% of B2B marketers use email. • Email is the number-one
outbound B2B marketing tactic used today.
Source: Forrester Marketing Forum 2010 presentation
We’re sending more B2B email
Source: SiriusDecisions Summit 2010
Traditional email = declining results
14.0%
11.2%
2.9% 1.6%
0.0% 2.0% 4.0% 6.0% 8.0%
10.0% 12.0% 14.0% 16.0%
2H 2007 2H 2009
Performance of Batch/Blast Email
Email open rates Average click rates
27 Sources: MarketingSherpa; MailerMailer
How new content consumption patterns are reshaping the traditional B2B buying process …
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B2B buyer decision cycle Satisfaction
Acknowledgment
Decision (To begin buying process)
Criteria
Selection
Investigation
Reconsideration
Measurement Source: R. Jolles
Emerging buying cycle gap ... Satisfaction
5%
Acknowledgment 79%
Criteria
Selection
Investigation
Reconsideration
Measurement Source: R. Jolles
Decision (To begin buying process)
Emerging buying cycle gap ... Satisfaction
Acknowledgment
Criteria
Selection 2%
Investigation 2-3%
Reconsideration
Measurement Source: R. Jolles
Decision (To begin buying process)
Emerging buying cycle gap ... Satisfaction
Acknowledgment
Criteria
Selection 2%
Investigation 2-3%
Reconsideration
Measurement
problem
Source: R. Jolles
Decision (To begin buying process)
Emerging buying cycle gap ... Satisfaction
Acknowledgment
Criteria
Selection 2%
Investigation 2-3%
Reconsideration
Measurement
problem
problem
Source: R. Jolles
Decision (To begin buying process)
Discussion: Your buyer dynamics?
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DEMAND GENERATION 2.0
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What we mean by demand generation …
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Demand Generation 2.0
Engagement
Nurturing
Acquisition
Content marketing programs
Technology infrastructure
Lead management processes
Source: Left Brain DGA
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One-to-one nurturing dialogue = Improved sales results
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One-to-one engagement?
“Buyers have higher expectations for intimacy. … We have built intimacy into the later stages of the buying process. … But at the front end, our traditional tactics are starting to come off with all the warmth and sincerity of an English royal.”
Source: Chris Koch, “Why you need to turn your customers into stalkers”
Nurturing = It’s about efficiency
Nurturing = It’s about timing
sort-of-ready definitely not ready
Source: MarketingSherpa, "2010 E-mail Marketing: Benchmark Report"
Dialogue = architecture of nurturing
LISTEN TO PROSPECT
OFFER CONTENT
GET FEEDBACK
PLAN + TUNE NEXT
OFFER
Source: Left Brain DGA
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Dialogue = non-linear nurturing
Outbound Marketing Inbound Marketing
Initial Buyer Interest
Collect Buyer Insights +
Route
Follow-up / Content Offer
More Buyer Interest + Action
Initial Human Contact
Sales Follow-up
Marketing Nurturing
+ Marketing Automation
Sales Nurturing
+ CRM
Scoring + Segmentation +
Routing
Add. Explicit + Behavioral Data
Collection
Marketing Automation to
CRM Sync
Email Sent
Web Form Data Collection
Source: Left Brain DGA
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Nurturing path = the dynamic campaign
Source: Left Brain DGA
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Discussion: Is any of your marketing one-to-one today? Are you nurturing?
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Content Marketing = The new ‘secret sauce’
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Content was ...
Relevant messaging?
“86% of the 'unique bene"ts' touted by vendors were not perceived as unique or having enough impact to create preference.”
Source: Tim Riesterer, "Three B2B Value-Proposition Rules That Create Preference, Not Just Parity"
Content is now ... § Critical information § Conveyed on speci!c topics § Carries the buying process forward § Delivered via right channel / timing / voice
... aligned to speci!c phases of the buying cycle.
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Catalyst for B2B buying …
72% of the time ‘"t for a speci"c need at a speci"c time’ is the number one reason for a B2B purchase today.
Source: Forrester Marketing Forum 2010 presentation
Aligning content by buying stage
Acknowledgment Social media Thought leadership (w/ E-mail nurturing) Traditional media
Decision E-mail nurturing
Field events Search
Criteria Analyst reports
Blog + Web reviews Search
Investigation Detailed product literature
Sales proposals
Measurement Analyst reports Search Product Web sites Source: R. Jolles
w/ A. Needles contributions
Designing content marketing
Source: Left Brain DGA
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Combining nurturing + content layers
BCC BCC BCC BCC
PC PC PC PC
DC DC DC DC
Buying Cycle Content
Promotional Content
Drip Content
PROSPs RESPs QRs SRLs
Source: Left Brain DGA
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“Banking and !nancial services have high rates of content marketing adoption (93%); however, their focus is on traditional formats, such as articles (82%). They also use social media signi!cantly less often than other industries (62% adoption versus 79% average).”
Source: Junta42 + MarketingProfs, “B2B Content Marketing: 2010 Benchmarks, Budgets and Trends”
Content marketing in #nancial services
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Discussion: How’s your content? Does it align to buying stages?
MARKETING TECHNOLOGY
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Capabilities of marketing automation
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CRM Marketing Automation
Batch / Blast Email
Single Emails
Nurturing Campaigns
Demographic Scoring
Behavioral Scoring
Form Builder
Landing Page Builder
Dynamic List Segmentation
Dynamic Email Content
High Volume Emails
Web Visitor Tracking
ROI Reporting
Source: Left Brain DGA
Technology systems
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CRM Platform
Link Source Tracking
Website + Blog CMS
Marketing Automation
Inbound Marketing
Optimization
Marketing Analytics
Social Media Activity Tracking
Ad/Site Tracking
Source: Left Brain DGA
Marketing analytics?
“Only 50% of marketers in our survey said they had analytics programs, and of these, few were focused on predicting behavior; most were simply reporting past behavior. Even rarer is the ability to carry those analytics all the way through to a sale.”
Source: Chris Koch, “We Need an App for That”
True ROMI § Inbound / outbound activity
§ Prospect acquisition performance
– # Prospects / channel – Cost / Prospect / channel – Cost / revenue / channel
§ Content marketing performance
– Revenue elasticity – Offer to close time – Cost / revenue / offer
§ Nurturing program conversion rates
– Total rate of conversion – Intermediary rates
§ Demand Gen program ROI – # Prospects acquired – # Sales Opportunities – Total value of current Sales
Opportunities – Revenue in$uenced – ROI ratios
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HOW TO BRING IT INTO YOUR ORG
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People + processes + content ...
Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"
People
§ Marketing team skills requirements § Focus on outcomes vs. activities § Analytics-driven § Sales team stakeholder buy-in § Common sales/marketing lingo/
de!nitions for lead stages, process § Buyer ‘engagement’ mindset
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Process: Lead management stages
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QUALIFIED RESPONDENTS
SALES READY LEADS
PROSPECTS
RESPONDENTS
SALES OPPORTUNITIES
CLOSED-WON
NON-RESPs
NON-QRs
NON-SRLs
NON-SOs
The Left Brain Model for Demand Generation
Source: Left Brain DGA
Takeaways
§ New B2B marketing paradigm § Holistic demand generation § Buyer-centric § Content becomes strategic § Marketing + sales integration crucial § Requires new processes, content,
technology + marketing roles
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