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Web Enabled Buyers
               – and why we have to change




© DirectionGroup [November 2012]
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

                                       Buyersphere Survey 2012: Inside the mind of the business buyer

    Follow industry
    conversations on the topic
    and source information from
    social media
Information sources


    Self-serve information on the increase
    Paid for media on the decrease
    Social media usage decrease
       Cyclical: 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
Pull-push?




     Push-pull marketing has become Pull-push


                                       “80% of new leads will come from
                                       inbound marketing by 2015”
                                                      B2B Marketing Directions, March 2012



     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
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



We have seen
80% growth in
                                                            'Lead Generation’ is
content formats
                                                            ranked as the main
since 2005
    IDG Connect IT Buyer Survey, 2010
                                                            objective for the
                                                            content that marketers
                                                            are producing (48%)
                                                             B2B Lead Generation & Content Marketing Survey 2012, eMedia




                                        36% of marketers say producing engaging
                                        content is their biggest challenge
                                                                Content Marketing Institute, Budgets and Trends Report 2010
Creating the right content



     Different people prefer
                                    Learning Styles
     different content formats to
     most easily absorb                                    Listening
     information                                Seeing
                                                 27%          18%

     Consider buyer behaviours                                   Reading
     and preferences for                        Hands-on           29%
     channels and media                           26%


     We need to cater to all
     kinds of content                                             IDG Connect, 2010
     requirements and produce
     in a variety of formats
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
Video content in B2B Marketing




More than 80% of senior
execs said they are watching
more online video today than      Three-quarters of
they were a year ago.             executives said they
                                  watch work-related
                                  videos on business
                                  related websites at
                                  least weekly.

65% of senior execs have
visited a vendor’s website
after watching a video.

                                     (Forbes Insights, 2010)
Don’t forget about sales



  Content is important for the sales teams

                                                 “The average sales person
     Sales enablement is about ensuring the      spends 7 hours per week
     sales reps have the information they need   looking for information to
     to close sales                              prepare for a sales call.”
                                                              IDC Sales Advisory Service

     Ensuring the right conversations take
     place, with the right content, matched to
     the correct stage of the process / cycle
Sales and Marketing alignment


  Alignment of the sales and marketing team (or lack of) has become
  more transparent to buyers


     Information provided by both
     entities needs to be consistent   31% of sales reps are not prepared with even
     and relevant                      a basic level of Web available information
     We need to consider the types     before taking a buyer's valuable time.
     of tools sales force need when    - Only 16% are extremely prepared.
     creating marketing content                                   Technology Marketing Blog (IDC),
                                                   “Sales Enablement and the Year of the Sales Rep”
     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             “Over 95% of qualified
                                                      prospects on your web site
    Collaboration is key:
                                                      are there to research and
        Agreed lead definitions                       not ready to buy. As many
        Established lead scoring metrics              as 70% of them will
        Understanding of communications and content   EVENTUALLY buy from
        shared with prospects                         you – or your competitors.”
    Role of marketing has expanded from brand                            Marketo, 2011
    awareness building to cultivating qualified
    leads over an extended time period
Mini Case Study: Fujitsu                  Customer facing:   Internal facing:



  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)
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                         “Word of mouth is the primary factor in up
    In the age of the social web,           to 50% of all purchase decisions. Its
    every customer is an influencer         influence tends to rise in direct proportion to
    Plan beyond soliciting testimonials     the risk and expense of the purchase.”
    from best customers                                                   McKinsey & Company

    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
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 experience
        Think about customer engagement
Eoin Rodgers
Tactical Planner - DirectionGroup
     uk.linkedin.com/in/eoinrodgers
     @eoinrodgers




www.DirectionGroup.com

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The Web Enabled Buyer – and why we have to change?

  • 1. Web Enabled Buyers – and why we have to change © DirectionGroup [November 2012]
  • 2.
  • 3. 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
  • 4. 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
  • 5. 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
  • 6. 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
  • 7. 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
  • 8. 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 Buyersphere Survey 2012: Inside the mind of the business buyer Follow industry conversations on the topic and source information from social media
  • 9. Information sources Self-serve information on the increase Paid for media on the decrease Social media usage decrease Cyclical: 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
  • 10. Pull-push? Push-pull marketing has become Pull-push “80% of new leads will come from inbound marketing by 2015” B2B Marketing Directions, March 2012 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
  • 11.
  • 12. 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
  • 13. Content marketing landscape We have seen 80% growth in 'Lead Generation’ is content formats ranked as the main since 2005 IDG Connect IT Buyer Survey, 2010 objective for the content that marketers are producing (48%) B2B Lead Generation & Content Marketing Survey 2012, eMedia 36% of marketers say producing engaging content is their biggest challenge Content Marketing Institute, Budgets and Trends Report 2010
  • 14. Creating the right content Different people prefer Learning Styles different content formats to most easily absorb Listening information Seeing 27% 18% Consider buyer behaviours Reading and preferences for Hands-on 29% channels and media 26% We need to cater to all kinds of content IDG Connect, 2010 requirements and produce in a variety of formats
  • 15. 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
  • 16. Video content in B2B Marketing More than 80% of senior execs said they are watching more online video today than Three-quarters of they were a year ago. executives said they watch work-related videos on business related websites at least weekly. 65% of senior execs have visited a vendor’s website after watching a video. (Forbes Insights, 2010)
  • 17. Don’t forget about sales Content is important for the sales teams “The average sales person Sales enablement is about ensuring the spends 7 hours per week sales reps have the information they need looking for information to to close sales prepare for a sales call.” IDC Sales Advisory Service Ensuring the right conversations take place, with the right content, matched to the correct stage of the process / cycle
  • 18. Sales and Marketing alignment Alignment of the sales and marketing team (or lack of) has become more transparent to buyers Information provided by both entities needs to be consistent 31% of sales reps are not prepared with even and relevant a basic level of Web available information We need to consider the types before taking a buyer's valuable time. of tools sales force need when - Only 16% are extremely prepared. creating marketing content Technology Marketing Blog (IDC), “Sales Enablement and the Year of the Sales Rep” Ensure sales tools and customer facing comms carry the same story Consider sales enablement in every campaign and throughout the campaign process
  • 19. 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 “Over 95% of qualified prospects on your web site Collaboration is key: are there to research and Agreed lead definitions not ready to buy. As many Established lead scoring metrics as 70% of them will Understanding of communications and content EVENTUALLY buy from shared with prospects you – or your competitors.” Role of marketing has expanded from brand Marketo, 2011 awareness building to cultivating qualified leads over an extended time period
  • 20. Mini Case Study: Fujitsu Customer facing: Internal facing: 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)
  • 21. What’s happened to the sales funnel? It’s not dead… but it isn’t a funnel anymore…
  • 22. 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.
  • 23. 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 “Word of mouth is the primary factor in up In the age of the social web, to 50% of all purchase decisions. Its every customer is an influencer influence tends to rise in direct proportion to Plan beyond soliciting testimonials the risk and expense of the purchase.” from best customers McKinsey & Company 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
  • 24. 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
  • 25. Mapping content to the new buyer journey
  • 26. 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 experience Think about customer engagement
  • 27. Eoin Rodgers Tactical Planner - DirectionGroup uk.linkedin.com/in/eoinrodgers @eoinrodgers www.DirectionGroup.com

Notes de l'éditeur

  1. B2B marketing going through an essential transformation.Historically focus on events, PR and collateral – now CEOs and Boards are demanding that we are directly driving revenue growth Engagement is more fierce than ever before - the rules of engagement for sales and marketing teams are fundamentally changing
  2. Considered brands go in the top, reduce number considered as you move prospect through the funnel…Only one way to go – very linear, and no room for engagement/dialogue…
  3. Prospects appearing in funnel under their own steam – not being pushedFuelled by web 2.0 tools and social media information and conversationBut is this the correct sales model for today’s B2B buyer?
  4. Looking in more detail at how buyers are informing their purchases…Unprompted
  5. Social media going through a bit of a funny turn…Self perpetuating circle? Content overload?
  6. Can’t rely on old push methodologies
  7. From an inbound perspective, content is king!
  8. It’s a value exchange – to be part of the conversation, you have to have something to say...Be relevant, interesting, useful, different, thought provoking, funny
  9. How can I bring this piece of content o life?How can I break it down and dissect it into bite sized chunks?How can I visualise it into an infographic?Is it worth making into a video?Etc…
  10. Appetite to watch on smartphones and ipad devices on the move – very palatable
  11. From a buyer perspective, what kind of content maps out against the typical buyer journey?To do that, we need to go back to the funnel…
  12. Talking about content repurposing – AIDA becomes IDEAL!A new buyer journey – more cyclical and connected than the linear funnelAwareness is a given – people form impressions from ads etc…Once trigger to buy, accumulated impressions become crucial – shape initial consideration setLoyalty – post purchase is critical – after sales care – peer to peer exchange
  13. Think different screens and formats – e.g. Flash on iPad...