B2B Marketing Trends 2016 - Social Media Breakfast Minneapolis
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What will savvy B2B marketers be doing more of or differently in the next three years? Find out what 24 top B2B bloggers have to say, along with supporting statistics and actionable takeaways.
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B2B Marketing Trends 2016 - Social Media Breakfast Minneapolis
- 1. B2B Marketing Trends: Where to Invest Your Resources May 2016 Tom Pick Twitter: @TomPick
- 2. The Question What will successful B2B marketers do more of or differently in 2016? #SMBMSP90 @TomPick
- 4. The Answers • Improve at content marketing • Demonstrate business results • Get advocacy right • Make better use of technology #SMBMSP90 @TomPick
- 5. Trend #1: Take Content Marketing to the Next Level
- 6. Content Marketing Stats (1) • 75% of B2B buyer want content to research business ideas BUT 93% of brands focus content on “marketing”1 • Brand followers want images, videos, customer reviews most, white papers and eBooks least2 BUT 59% of marketers say white papers and eBooks tops for lead gen3 1) MarketingCharts 2) SocialTimes 3) MediaPost @TomPick
- 7. Content Marketing Stats (2) • Brands ~40% of marketing budgets on content YET just 23% of CMOs say producing right content for right audience/time/format1 • 93% of marketers will spend same or more this year BUT <1/3 believe purpose is highly understood internally2 1) Business2Community 2) MarketingSherpa #SMBMSP90 @TomPick
- 8. Content Marketing Stats (3) • 85% of marketers say primary purpose of content is building brand awareness and company image YET • 70% measure effectiveness on lead gen. Result is more of sales-centric content business leaders dislike.1 1) MarketingSherpa #SMBMSP90 @TomPick
- 10. #SMBMSP90 @TomPick Content Marketing Quotes (1) “Data-driven B2B marketers will notice that in order to reap the fruits of (content) they need to use it to connect on more emotional levels, put customer experience first and find the sweet spot between what they stand for and what individual customers seek and appreciate.” - J-P De Clerck
- 11. #SMBMSP90 @TomPick “B2B marketers have finally realized merely throwing content into the ether is both expensive and wasteful. They’re adopting buyer personas, content targeting and matching content to stages of the buying cycle. Content marketing will continue huge growth in B2B but we’re going to get a lot smarter about how we invest resources. Marketers are beginning to realize buyers are people, not demographic segments, and they are appealing more to the motivations that influence human behavior.” - Paul Gillin Content Marketing Quotes (2)
- 12. Content Marketing Guidance • Target buyers more precisely: – By persona – By industry – By issue – By stage in the buying cycle • Appeal to emotions • Repurpose in different formats #SMBMSP90 @TomPick
- 13. Social Media Takeaway • Think about “shareworthiness” of content: who, where, and why? • Example: 8 Things We DON’T Hate About IT #SMBMSP90 @TomPick
- 14. Trend #2: Demonstrate Measurable Business Results
- 15. Marketing Value Stats (1) • 58% of CMOs feel increasing pressure to prove the value of marketing—none feel less pressure1 • Just 29% of CMOS can quantitatively prove long-term impact of marketing; 23% can’t prove any impact at all2 1) MediaPost 2) TheCMO Survey #SMBMSP90 @TomPick
- 16. #SMBMSP90 @TomPick Marketing Value Stats (2) • Only 30% of B2B marketers say they are effective at content marketing (55% for those who are “clear on what success or effectiveness looks like”)1 • 1/3 of marketers don’t know which digital marketing tactic has biggest impact on revenue2 • 60% of marketers say “measuring ROI” is one of three top social media marketing challenges3 1) Forbes 2) MarketingProfs 3) Simply Measured
- 17. #SMBMSP90 @TomPick The Marketing ROI Debate • Kieran Flanagan on the HubSpot blog: “There is no single metric you can show your boss that will categorically give the ROI of the content you produce.” • Rob Petersen: not only is it possible to measure the ROI of content marketing— 21% of content marketers ‘say they are successful at tracking ROI’—but “here are a dozen real-world examples.” Source: Six Expert Guides to Measuring Content Marketing Results, Webbiuity: http://webbiquity.com/web-analytics/six-expert-guides-to-measuring-content-marketing-results/
- 19. #SMBMSP90 @TomPick Marketing Value Quotes (1) Ask ‘Why are we doing this?” More Often “If your CEO isn’t already asking you that question, (s)he is always thinking it, whenever it involves marketing expense. Marketers with the longest job tenure design, execute and internally promote programs that have a direct (or very strong indirect” correlation with tangible business outcomes their CEO can understand, including revenue generation, client acquisition and retention, and market share.” - Gordon G. Andrew
- 20. Marketing Value Quotes (2) “I predict a massive correction in B2B advertising and event budgets that will drive an increase in content marketing. This will require us to get pretty darn good at showing content marketing ROI. We’ll also see more personalization (and) visual content.” - Michael Brenner “Marketing has to continue to become more accountable for business results…B2B marketers will focus more on the right metrics that support business goals in 2016. It’s not just vanity metrics that have slowed this down, but the availability of too much data (is) the latest distraction.” - Jeffrey L. Cohen
- 21. #SMBMSP90 @TomPick • Data is abundant; interpretation is scarce • Plan your metrics in advance: prospect vs. customer • Measure ROI at the appropriate level of effort • Roll-up vanity (op) metrics to meaningful (non-ROI) and actionable measures Marketing Value Guidance
- 22. Social Media Takeaway • You can’t buy engagement • Measure change over time, competitive benchmarking: – SimilarWeb – Rival IQ – TrackMaven – TalkWalker • Examples: retail news, content upgrades
- 23. #SMBMSP90 @TomPick Trend #3: Create and Embrace Advocates
- 24. Social Advocacy Stats (1) • Rethink “influencer” marketing? 91% of brand social mentions are from people w/ <500 followers. • And 94% of those mentions are positive.1 • And according to Dunbar’s number, no one really influences more than 150 people anyway.2 1) Buffer 2) Google it. #SMBMSP90 @TomPick
- 25. Social Advocacy Stats (2) • Your best influencers may be your own employees (or co-workers). 50% of employees share about their companies on social media— without any prompting. • BUT guidance/training is needed. Just 41% of workers say they know what their company stands for and what differentiates it from competitors.1 1) iMedia Connection #SMBMSP90 @TomPick
- 26. Social Advocacy Quotes “Leading B2B brands are investing resources to create a workforce of engaged brand ambassadors. The result is a win-win. The company benefits from more authentic communication, and employees build personal brands.” - Cheryl Burgess “The average click-through rate is 0.1%, banners don’t work anymore, and people are much more likely to trust peer to peer recommendations than advertising. Identify, listen, and engage with influencers…build valuable and long- lasting relationships with them and they will help you spread and amplify your message.” - Joe Fields
- 28. Influencer Outreach • Not long ago: new, flailing (the lazy PR pitch) • Now: mature, best practices, etiquette, tools – Buzzstream – Onalytica – Inkybee – Muck Rack – Pitchbox #SMBMSP90 @TomPick
- 29. • Identify your key influencers across groups: – Employees – Bloggers – Journalists – Business partners – Customers • Tell them what you want • Answer WIIFM Social Advocacy Guidance #SMBMSP90 @TomPick
- 30. #SMBMSP90 @TomPick Social Media Takeaway Company blog post – Your blog, your voice Guest post – Influencer blog, your voice Hosted blog post – Your blog, influencer voice Influencer blog post – influencer blog, influencer voice The Soon-to-be-Famous Inverted Pyramid of Social Media Influence
- 31. Social Advocacy Examples • Teradata – personalized marketing • IBM bloggers • Ghost writing #SMBMSP90 @TomPick
- 32. Trend #4: Make Better Use of Technology
- 33. Marketing Tech Stats (1) • Just 34% of B2B firms touch leads monthly.1 • YET 63% of companies outgrowing their competitors use marketing automation. • And 68% of best-in-class companies use lead scoring — compared to 28% of laggard firms.2 1) B2B Marketing Insider 2) Iconsive #SMBMSP90 @TomPick
- 34. The Universe of Marketing Tools #SMBMSP90 @TomPick
- 35. Marketing Tech Stats (2) • 65% of B2B marketers plan to spend more on programmatic advertising this year. • 78% will spend up to 50% of their budgets on programmatic. • YET 44% of B2B marketers don’t understand how programmatic works, and 47% cite “Lack of understanding” as top challenge.1 1) MediaPost #SMBMSP90 @TomPick
- 37. Marketing Tech Quote Invest in Training to Use Marketing Technology More Effectively “Organizations spend millions of dollars annually (on marketing tech). Yet we invest little, if any, on training and marketing enablement for our marketing departments. The growing technology stack and the fact most marketers are self-taught means we need to ensure effectiveness of our teams…Only 7.5% (of respondents to a recent study) reported the skill set of marketing personnel was highly effective. Clearly, we need to do better.” - Erika Goldwater #SMBMSP90 @TomPick
- 38. • Get marketing processes right first • Take a strategic approach to tools (what does what?) • Train people to use your tools — well: tech, policy/brand, data quality • Monitor the landscape — things change! Marketing Tech Guidance #SMBMSP90 @TomPick
Notes de l'éditeur
- Good morning Appreciate the invitation Will get through as many slides as possible, but it’s your presentation – happy to accommodate your pace and answer questions
- What do you think? We asked the 190 contributors to B2BMarketingZone.com this question.
- You can get all of the details in this eBook. You’ll get a few of the highlights this morning. Your buyers are researching solutions and vendors through social media - They expect to find you there you can’t win if you don’t play
- Their responses fell into about half a dozen high-level buckets. Let’s look closer at four of those trends this morning.
- B2B marketers have to do content marketing “better.” But what exactly does that mean?
- It means creating the kind of content buyers want at EVERY stage of the funnel. Nothing wrong with eBook or white papers – they just have to be used at the right time. Per Clay Collins of LeadPages: offer a “content upgrade” with every piece of content you put out.
- So…how do you get started? Many companies just want to jump right in. That can be disastrous: Walmart examples, less-publicized but real examples of B2B too heavily promotional causing a black eye
- I don’t know obviously all of your measurement capabilities, but a good start is to combine the metrics you have today (e.g. website traffic and sources) with additional social media-specific measures and create a dashboard. Don’t worry about getting this perfect – it can evolve over time. Some examples of the metrics you may want to track include…
- Here are some examples, in terms of how social media activity can affect: Website metrics email marketing social media measures and hopefully – measurable business results Do have to be a bit careful here. SM activity is more like PR – brand awareness, image, credibility – than like direct marketing. And it’s dangerous to try to use as a direct response vehicle. But it can drive leads and even sales, often indirectly, so it’s important to measure what you can.
- In order to gather those social media-specific measures, you’ll need tools. I don’t have a dog in this fight but here are some key considerations to keep in mind when selecting a tool. GET LIST OF SM MONITORING TOOLS Extent of coverage – make sure forums and message boards are included Realtime – talk about Vocus, other approaches Workflow – how easy does the tool make it to route citations to others in customer service, engineering etc. for follow-up Note my blog post - ??
- Variation in Samsung, video content – appeal to emotion or leadership vs. product-centric.
- Ouch!!
- Measurement is clearly a challenge. But note the first stat here – we’ll come back to that.
- No wonder mere marketing mortals are confuzzled – event the experts can’t agree on measuring the ROI of content marketing.
- It’s enough to make you feel like this.
- CMOs need to design programs that will show business results—or be prepared to explain why they didn’t. (TAB example) LinkedIn can be an excellent traffic driver – but have to be VERY CAREFUL with direct promotion.
- There’s no shortage of data, but rather a shortage of meaning. ROI works at the overall campaign level, but not necessarily for individual tactics. Social engagement metrics actually ARE meaningful – if aggregated to something like webshare / share of online voice. Trend and competitive metrics matter.
- Three things to measure: engagement: over time, vs competitors, what works Correlation with traffic and leads Customer service: - call deflection - winbacks - referrals - new ideas
- It’s not all about hanging out with the cool kids. Everyone has a circle of influence – and research says in most cases it’s pretty small. It’s more important to connect with the RIGHT kind of followers rather than just those with the biggest # of followers.
- (speaks for itself)
- It’s (usually) not about money. It’s about social recognition – or – whatever drives each individual. Figure it out. What does it make sense to ask them to do – and how does that benefit them (and incidentally, you too)? True story – I recently got a pitch that was so awful I was about to ignore it BUT the infographic they included was so cool – I shared it anyway.
- Examples: Teradata, IBM, ghost writing, V3B Use tools to help. Always answer WIIFM
- Even Ron Burgundy gets this trend…
- The problem isn’t a lack of technology marketing tools – there is an expanding universe of those.
- Yeah, you can’t read this: 1,876 marketing technology offerings across 43 categories, like email marketing, project management, CRM, social media advertising, web analytics, influencer marketing, SEO... Produced by Scott Brinker and updated annually.
- It’s a lack of knowledge of how to use the tools. Gotta love this – 2/3 of B2B marketers gonna spend more on programmatic advertising…even though nearly half don’t really know what it is!
- It really is unexplainable.
- Hire for fundamental knowledge, train on specific tools. Judgment, branding, messaging means more than tech skills – Deb / OptinMonster example.