Advances in technology have created a new B2B marketing paradigm. In this presentation, Malcolm Friedberg and Adam Needles address how to create a holistic demand generation strategy in response to changes in the B2B buying process.
6. 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
7. We look to technology for a solution
§ 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"
8. 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"
9. We’re challenged in using technology
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
10. Technology alone is not a solution
Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"
11. 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”
19. 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”
20. Turning to online sources ...
Source: Enquiro, “Integrated Persuasion: Online and Offline”
21. Peer in uence is king ...
Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
22. Leveraging social media ...
Source: B2B Marketing/Base One, "BUYERSPHERE, Survey
of B2B Buyers' Use of Social Media"
23. Buyer 2.0 listens to groundswell.
Source: B2B Marketing/Base One, "BUYERSPHERE,
Survey of B2B Buyers' Use of Social Media"
24. 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”
25. 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
29. B2B buyer decision cycle
Reconsideration Satisfaction
Selection Acknowledgment
Investigation Decision
(To begin buying process)
Measurement Criteria
Source: R. Jolles
30. Emerging buying cycle gap ...
Reconsideration Satisfaction
5%
Selection Acknowledgment
79%
Investigation Decision
(To begin buying process)
Measurement Criteria
Source: R. Jolles
31. Emerging buying cycle gap ...
Reconsideration Satisfaction
Selection Acknowledgment
2%
Investigation Decision
2-3% (To begin buying process)
Measurement Criteria
Source: R. Jolles
32. Emerging buying cycle gap ...
Reconsideration Satisfaction
problem
Selection Acknowledgment
2%
Investigation Decision
2-3% (To begin buying process)
Measurement Criteria
Source: R. Jolles
33. Emerging buying cycle gap ...
Reconsideration Satisfaction
problem
Selection Acknowledgment
2%
problem
Investigation Decision
2-3% (To begin buying process)
Measurement Criteria
Source: R. Jolles
39. 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”
48. 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"
50. 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
51. Aligning content by buying stage
Acknowledgment
Social media
Thought leadership
(w/ E-mail nurturing)
Traditional media
Investigation Decision
Detailed product literature
E-mail nurturing
Sales proposals
Field events
Search
Criteria
Measurement Analyst reports
Analyst reports Blog + Web reviews
Search Search
Source: R. Jolles Product Web sites
w/ A. Needles contributions
54. Content marketing in nancial services
“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”
59. 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”