Upload
b2b-marketing
View
382
Download
2
Embed Size (px)
DESCRIPTION
Today's proliferation of marketing channels, multiple screens and social networks is creating radical changes in the purchasing patterns, influences and media choices of B2B buyers. This revolution is fundamentally changing the rules of engagement for sales and marketing teams. In this new world, AIDA hasn't disappeared - it's become IDEAL. Hear practical tips and advice on how your marketing efforts need to evolve in this new world. Delegates will: • Understand the new web enabled buyer • See the new buying process - IDEAL • Get useful tips on how to match tactics to buyer expectations • Learn how to better align the sales and marketing teams
Citation preview
© DirectionGroup [November 2012]
Web Enabled Buyers– and why we have to change
B2B Buyers – a new breed
Out of the ashes, a new breed of B2B buyer has arisen
A species that is more connected, more impatient, more elusive, more impulsive and more informed than its pre-millennium ancestors
And much more demanding
“ 9 out of 10 buyers say when
they’re ready to buy, they’ll find you. ” Breaking out of the funnel, DemandGen
B2B marketing evolution
A whole new set of skills and activities is now required across marketing and sales teams
Content marketing
Inbound marketing
Account based marketing
Lead nurturing
Lead to revenue management...
We need to shift our thinking as B2B marketers from a focus on raw leads to a focus on managing buyer dialogue as a means to nurturing sales-ready relationships
An absolute requirement of doing these activities well is a deep understanding of your buyer – and their journey to making a purchase
B2B sales funnel
The B2B sales funnel has worked pretty well over the past two decades
Solution providers contacted prospects and guided them through the typical buying phases of AIDA
Awareness
Interest
Desire
Action
Soon enough, a purchase was made
The new rules
The rules of engagement are being re-written
Sales and marketing have traditionally controlled the conversation
Buyers now dictate how and when they want to be contacted
B2B buyers select vendors from press reviews, analyst briefings or tradeshows
B2B buyers start their journey online, and turn to social media and peer connections to learn how other companies have handled similar business challenges
B2B buyers expect and demand solution vendors to respond to their information needs in a timely manner, and through their choice of channel
B2B sales funnel
What has changed?
Web 2.0 tools have enabled B2B buyers to self educate. They’re well versed in features, functionality and pricing – long before they have their first conversation with a provider
Social media has fostered an on-going dialogue amongst peers
Breaking out of the funnel, DemandGen
How do buyers inform their purchase?
Starts with informal information gathering around a business challenge
Engagement with peers who have addressed the challenge
Value of real dialogue over static content
Follow industry conversations on the topic and source information from social media
Buyersphere Survey 2012: Inside the mind of the business buyer
Information sources
Self-serve information on the increase
Paid for media on the decrease
Social media usage decreaseCyclical: burn out amongst current users? Has marketing ruined social media?
Gen Y will compensate – using twice as much as their predecessors
Buyersphere Survey 2012: Inside the mind of the business buyer
“80% of new leads will come from
inbound marketing by 2015”B2B Marketing Directions, March 2012
Push-pull marketing has become Pull-push
The new rules of engagement mean that you can no longer rely on a blitz of emails, webinar invites or other outbound media to drive a flood of prospects to the top of the funnel
To successfully engage the web enabled buyer, expertise in both inbound and outbound marketing is critical
Pull-push?
What is content marketing?
A marketing technique of creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience.
Content Marketing Institute, 2012
Content marketing landscape
'Lead Generation’ is ranked as the main objective for the content that marketers are producing (48%)
B2B Lead Generation & Content Marketing Survey 2012, eMedia
We have seen 80% growth in content formats since 2005
IDG Connect IT Buyer Survey, 2010
36% of marketers say producing engaging content is their biggest challenge
Content Marketing Institute, Budgets and Trends Report 2010
Creating the right content
Listening18%
Reading29%Hands-on
26%
Seeing27%
IDG Connect, 2010
Different people prefer different content formats to most easily absorb information
Consider buyer behaviours and preferences for channels and media
We need to cater to all kinds of content requirements and produce in a variety of formats
Learning Styles
Content creation
You don’t need to create lots and lots of content from scratch
ATOMISE – one piece of content, re-purposed into different formats to better suit the wide range of B2B buyer profiles
Three-quarters of executives said they watch work-related videos on business related websites at least weekly.
More than 80% of senior execs said they are watching more online video today than they were a year ago.
65% of senior execs have visited a vendor’s website after watching a video.
(Forbes Insights, 2010)
Video content in B2B Marketing
Don’t forget about sales
Content is important for the sales teams
Sales enablement is about ensuring the sales reps have the information they need to close sales
Ensuring the right conversations take place, with the right content, matched to the correct stage of the process / cycle
“The average sales person
spends 7 hours per week
looking for information to
prepare for a sales call.”IDC Sales Advisory Service
Sales and Marketing alignment
Alignment of the sales and marketing team (or lack of) has become more transparent to buyers
31% of sales reps are not prepared with even
a basic level of Web available information
before taking a buyer's valuable time.
- Only 16% are extremely prepared.Technology Marketing Blog (IDC),
“Sales Enablement and the Year of the Sales Rep”
Information provided by both
entities needs to be consistent
and relevant
We need to consider the types of
tools sales force need when
creating marketing content
Ensure sales tools and customer
facing comms carry the same
story
Consider sales enablement in
every campaign and throughout
the campaign process
The changing role of marketing and sales
With the buyer now in control, they will choose
how and when they engage to buy
Both sales and marketing must re-focus
efforts to support nurturing activity
Collaboration is key:Agreed lead definitions
Established lead scoring metrics
Understanding of communications and content
shared with prospects
Role of marketing has expanded from brand
awareness building to cultivating qualified
leads over an extended time period
“Over 95% of qualified prospects on your web site are there to research and not ready to buy. As many as 70% of them will EVENTUALLY buy from you – or your competitors.”
Marketo, 2011
Mini Case Study: Fujitsu
Storage Campaign
Sales force briefed and trained using the same customer facing campaign materials
Video briefings from Fujitsu Sales Leaders and Product Marketers
“Chatter Live” – 15 minute personal phone-based campaign briefings
Interactive Campaign Playbook – containing all supporting materials (case studies, elevator pitch, third party content, video, etc)
Sales tools for lead nurturing (emails templates, content, etc)
Customer facing: Internal facing:
What’s happened to the sales funnel?
It’s not dead… but it isn’t a funnel anymore…
The new customer decision journey
It’s a loop – not linear
AIDA hasn’t disappeared – its become IDEAL
Adapted from McKinsey, The consumer decision journey.
Creating brand advocates
The customer journey doesn’t end with a sale
The “loyalty” aspect of the buyer journey is one which is typically forgotten about
In the age of the social web, every customer is an influencer
Plan beyond soliciting testimonials from best customers
Continue to nurture existing customers to build longer term relationships and loyalty
Consider facilitating a “communication loop” to be in control of feedback post purchase
“Word of mouth is the primary factor in up to
50% of all purchase decisions. Its influence
tends to rise in direct proportion to the risk
and expense of the purchase.”McKinsey & Company
In Summary – the communication context
Digital culture is changing how brands communicate.
Smart businesses engage customers
Move from interruption to interaction
Move from brand experience to user experience
Advocacy and customer conversation are key
Mapping content to the new buyer journey
Conclusions
Success lies in mastering the new rules of engagement through understanding of the new B2B buyer’s motivations and behaviours
Expertise in inbound marketing is as critical as outbound marketing – think Pull and Push
Content is king and great for attracting information hungry buyers
Sales and marketing alignment is key
As an organisation - be responsive – use tools to facilitate on-going conversations. Think about lead nurturing.
Don’t think linearly – think loopily!Post-purchase experience is as important as pre-purchase experienceThink about customer engagement
www.DirectionGroup.com
Eoin Rodgers
Tactical Planner - DirectionGroup
uk.linkedin.com/in/eoinrodgers
@eoinrodgers