This presentation will examine a changing B2B marketing environment, where power has shifted from seller to buyer, and propose a new, holistic demand generation approach -- field marketing 2.0 -- for tackling this environment.
Topics covered will include: analysis of shifts in the nature of B2B buyers and in their information/channel usage patterns; cross-functional strategies for improving engagement in buyer dialogue; operational approaches for driving greater sales/marketing alignment and improving marketing strategy/execution; best practices for developing dynamic, buyer-pull-driven marketing campaigns; and insights into balancing upstream/inbound thought capital and evangelism with downstream/outbound nurturing campaigns. The session also will cover leveraging lead management strategies and marketing automation as the key infrastructure underpinning your ‘field marketing 2.0’ organization.
2. Field Marketing 2.0: A New Catalyst for Buyer-Centric B2B Marketing Adam B. Needles Director, Field Marketing and B2B Marketing Evangelist Twitter: @abneedles
3. Agenda Intro: What is Field Marketing 2.0? A changing B2B buyer New building blocks Implications Q&A Twitter: @abneedles
4. Presentation goal: Re-think our approach to demand generation – shifting from a product-centric view to a buyer-centric view. Twitter: @abneedles
10. Field Marketing 2.0 “Field Marketing 2.0 is basically a framework to track and review the outcome of activity designed to create sales opportunities.” Source: SiriusDecisions, “SiriusDecisions Has the Proof: Field Marketing 2.0 Drives Revenue Growth”
17. Buyer 2.0 “[T]he hunter has become the hunted. Buyers are more informed and seek information independent of sales. ... How sales people want to sell has little impact on how buyers are choosing to buy.” Source: SiriusDecisions, “Marketing Needed for Sales 2.1”
19. #1 - B2B buyers are increasingly turning to online sources, on their own, earlier in their process, to research purchases before ever calling a 'live' sales rep
20. Turning to online sources ... “[I]t’s common to take ... partially defined need and flesh it out through online research. The result of the research is fundamental in determining potential candidates, defining comparison criteria and formalizing the purchase plan.” Source:Enquiro, “Integrated Persuasion: Online and Offline
21. Turning to online sources ... Source:Enquiro, “Integrated Persuasion: Online and Offline”
22. On their own ... Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
23. #2 - B2B buyers are increasingly leveraging social media -- such as Twitter, blogs, etc. – for peer communication in the information collection phase of the buying process
24. Leveraging social media ... Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
25. Leveraging social media ... Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
26. Leveraging the Groundswell ... “The groundswell is: A social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations.” Source: Charlene Li and Josh Bernoff, Groundswell.
27. Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data. Peer influence is king ...
28. #3 - B2B buyers manifest themselves more than ever as a complex, savvy 'buying unit,' rather than simply as a single decision-maker
30. #4 - B2B buyers pursuing their buying process more 'massively multi-channel' than ever before; however, channel weightings and their sequence vary by the phase of the buying process
38. Emerging buying cycle gap ... Reconsideration Satisfaction 5% Selection Acknowledgment 79% Investigation Decision Source: R. Jolles Criteria Measurement
39. Emerging buying cycle gap ... Reconsideration Satisfaction Selection 2% Acknowledgment Investigation 2-3% Decision Source: R. Jolles Criteria Measurement
40. Emerging buying cycle gap ... Reconsideration Satisfaction Selection 2% Acknowledgment problem Investigation 2-3% Decision Source: R. Jolles Criteria Measurement
41. Emerging buying cycle gap ... Reconsideration Satisfaction another problem Selection 2% Acknowledgment problem Investigation 2-3% Decision Source: R. Jolles Criteria Measurement
42. Field Marketing 2.0 building blocks Content marketing mindset Lead management framework Marketing automation infrastructure
44. Emerging buying cycle gap ... Reconsideration Satisfaction Selection Acknowledgment the opportunity Investigation Decision Source:R. Jolles Criteria Measurement
45. Aligning content Acknowledgment Social media Thought leadership (w/ E-mail nurturing) Traditional media Investigation Detailed product literature Sales proposals Decision E-mail nurturing Field events Search Criteria Analyst reports Blog + Web reviews Search Measurement Analyst reports Search Product Web sites Source: R. Jolles w/ A. Needles contributions
46. Aligning inbound to outbound Twitter to Live Twitter Webinar White Paper Nurture Field Event Field Sales Pick-up Search to Inside Google Blog Post Other Download Nurture Call ‘Qual’ Team Inside Sales Pick-up
52. Traditional lead management 15,000 Inquiries 12,000 Valid Inquiries 80% of names have valid information 7,200 - Leads 2,880 – Mktg Qualified Leads 60% of contacts rank as a lead 1,440 – Sales Accepted Leads 40% of contacts are ranked as a MQL 432 closed deals @ $25K ASP 50% of contacts are ranked as a SQL $10.8M REVENUE 30% Sales Close Win Rate Marketing Contribution Source:The Annuitas Group
53. Nurturing = dynamic lead management 15,000 Inquiries Mktg Nurture Campaign Lead Nurture Campaigns 12,000 Valid Inquiries 80% of names have valid information Mktg Nurture Campaign Mktg Nurture Campaign 7,200 - Leads 2,880 – Mktg Qualified Leads Sales Nurture Campaign 60% of contacts rank as a lead 1,440 – Sales Accepted Leads 40% of contacts are ranked as a MQL 432 closed deals @ $25K ASP 50% of contacts are ranked as a SQL $10.8M REVENUE 30% Sales Close Win Rate Marketing Contribution Source:The Annuitas Group
56. Marketing automation platform WEB FORMS + TRACKING COMMUNICATION CHANNELS EMAIL ENGINE CONTENT MANAGEMENT SEGMENTATION + ROUTING ENGINE LEAD SCORING ENGINE CAMPAIGN MANAGEMENT SALES LEAD INSIGHT TOOLS MARKETING DATA CLOSED-LOOP ANALYTICS CRM DATA SYNCHRONIZATION
61. Field Marketing 2.0 disciplines Dynamic campaigning Lead nurturing Inbound to outbound integration Dialogue + thought leadership
62. Getting started w/ Field Marketing 2.0 Get to know your buyer Develop content that matters Talk about your lead process Build a partnership with sales Adopt infrastructure to help you learn, adapt and improve
Key talking points:. Chart shows rapid change, not overall adoption. Not focus on tradeshows/virtual. Note that in the UK face-to-face remains very important. Riaz: Tradeshows are being used as a way to pull lists together; then moving to online.
So how does issue of dialogue connect with our marketing and sales organization?This is how I think about this issue and how I think about where field marketing fits in …As you know, marketing automation plays one key role – driving nurturing activities on a scale basis and with leads at a variety of stages.But automation can only take us so far, and – in fact – I believe it frees us to be able to focus on the big prize:Authentic dialogue with buyers that is substantive; that is an outstanding experience; and that signals our honest and legitimate participation in marketers’ communities.That’s where field marketing comes in as a critical component of nurturing leads and staying ‘IN’ the dialogue so that as a sales team you have the greatest opportunity to engage with and close new customer opportunities.Here’s one way I conceptualize field marketing in terms of this idea of dialogue … EXPLAIN CHART
So how does issue of dialogue connect with our marketing and sales organization?This is how I think about this issue and how I think about where field marketing fits in …As you know, marketing automation plays one key role – driving nurturing activities on a scale basis and with leads at a variety of stages.But automation can only take us so far, and – in fact – I believe it frees us to be able to focus on the big prize:Authentic dialogue with buyers that is substantive; that is an outstanding experience; and that signals our honest and legitimate participation in marketers’ communities.That’s where field marketing comes in as a critical component of nurturing leads and staying ‘IN’ the dialogue so that as a sales team you have the greatest opportunity to engage with and close new customer opportunities.Here’s one way I conceptualize field marketing in terms of this idea of dialogue … EXPLAIN CHART