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ABM Master Class: Engagement

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This Master Class will take a deep dive into ABM engagement challenges, strategies, quick wins, and best practices. We’ll also take a look at how VMware leverages ABM engagement to woo, wow, and WIN their target accounts with website personalization and increased engagement across key audiences and segments.

View on demand so that you can get the practical knowledge and actionable insights you need in order to:

- Build meaningful audiences and segments
- Create targeted, relevant digital experiences
- Measure engagement success
- Iterate and optimize your ABM strategy to drive continuous improvement

Publié dans : Marketing
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ABM Master Class: Engagement

  1. 1. ABM MASTER CLASS: ENGAGEMENT BONNIE THOMAS, SR. ABM STRATEGIST | DEMANDBASE PRANAY GOYAL, DIGITAL MARKETING MANAGER WEB PERSONALIZATION | VMWARE
  2. 2. © 2019 DEMANDBASE SLIDE 2 MEET THE SPEAKERS Bonnie Thomas Sr. ABM Strategist Demandbase Pranay Goyal Digital Marketing Manager, Web Personalization VMware
  3. 3. AGENDA § WHY ENGAGEMENT MATTERS § ENGAGEMENT FOUNDATION: TARGETING AND SEGMENTATION § CUSTOMIZING THE VISITOR EXPERIENCE § MEASURING ENGAGEMENT SUCCESS § VMWARE SUCCESS STORY § LIVE Q&A
  4. 4. WHY ENGAGEMENT MATTERS
  5. 5. © 2019 DEMANDBASE SLIDE 5 THERE IS INCREASED DEMAND FOR ENGAGING EXPERIENCES Our customers want and expect more engaging experiences
  6. 6. © 2019 DEMANDBASE SLIDE 6 BETTER ENGAGEMENT, BETTER CONNECTIONS, HIGHER PROFITS Better connections with our customers can result in higher profits
  7. 7. © 2019 DEMANDBASE SLIDE 7 BETTER ENGAGEMENT IS BETTER BUSINESS ALL AROUND Contextual, immersive, relevant experiences can … (McKinsey & Company) reduce acquisition costs by as much as 50% lift revenues by 5-15% increase the efficiency of marketing spend by 10-30%
  8. 8. © 2019 DEMANDBASE SLIDE 8 THE ENGAGEMENT CHALLENGE There is so much noise, user behavior is changing
  9. 9. © 2019 DEMANDBASE SLIDE 9 WHAT ENGAGEMENT SUCCESS LOOKS LIKE Better more relevant site experiences get target accounts to …. § come back to the site § bounce less and stay longer § more actively engage with our content and offers
  10. 10. TARGETING AND SEGMENTATION
  11. 11. © 2019 DEMANDBASE SLIDE 11 AUDIENCE BUILDING—START NARROW, THEN FOCUS § TAM: Total addressable market—all companies that could buy from you § TARGET MARKET: Accounts that meet your ICP § TARGET ACCOUNTS: Marketing identified target accounts, e.g., key verticals + sales priority accounts § SEGMENTS: Key verticals, upsell/cross- sell opportunities, journey stage, high propensity to buy, etc. TAM Target Market Target Accts Key Segments BA D C
  12. 12. © 2019 DEMANDBASE SLIDE 12 Within target accounts, there are further distinctions and segments to be aware of. Think about these factors: § Revenue potential for your company § A firmographic fit—the right industry, company size, and region § Journey stage—lower-funnel opportunities may close faster § Propensity to buy based on demonstrated purchase intent online § Propensity to buy based on online engagement rates § Propensity to by based on relationships, CSAT scores, past close rates, etc. HOW TO PRIORITIZE TARGET ACCOUNTS
  13. 13. © 2019 DEMANDBASE SLIDE 13 COMMON SEGMENTATION APPROACHES § Industry Industry verticals tend to have unique and specific attributes, pain points and goals. § Company Size Mid-market companies typically face much different challenges than SMBs or enterprise organizations. They also have different buying committees, sales cycles and decision processes. § Journey Stage The most successful messages and creative treatments you present to companies who are just becoming aware of your products and services can look very different from those who have been engaged with you for some time or are just about ready to pull the trigger. § Product Usage Particularly useful for developing engagement strategies that advance cross-sell and upsell opportunities § Customer/Prospect/Partner Prospects may need to know more about who you are and what you do, while customers may respond well to special offers for upsells. Partners, on the other hand, may be best motivated by reminders of your position as an industry leader. § Intent Customers who are already in-market for your products and services, or already engaged on your site will respond to messages and web experiences very differently.
  14. 14. © 2019 DEMANDBASE SLIDE 14 JOURNEY STAGE SEGMENTATION CASE STUDY § 3.6X increase in content consumption § 59% increase in page views
  15. 15. © 2019 DEMANDBASE SLIDE 15 INDUSTRY SEGMENTATION CASE STUDY § 55% increase on engagement on the home page § 43% increase in engagement overall
  16. 16. © 2019 DEMANDBASE SLIDE 16 § It’s important to ask yourself a few key questions before you settle in on your approach: § Are your segments truly different in a meaningful way? § Do you have different messages, content, offers and experiences for each segment? § Do each of your target accounts fall clearly into one segment or another? § If the answer to any of the above questions is no, revisit your segmentation strategy until you arrive at a model in which each segment is uniquely differentiated. HOW DO YOU KNOW IF YOU HAVE THE RIGHT SEGMENTATION?
  17. 17. © 2019 DEMANDBASE SLIDE 17 DIFFERENTIATED MESSAGING FOR EACH SEGMENT?
  18. 18. © 2019 DEMANDBASE SLIDE 18 RELEVANT CONTENT FOR EACH SEGMENT?
  19. 19. © 2019 DEMANDBASE SLIDE 19 1. Focus on your best opportunities 2. Start simply – one or two segments 3. Set goals for each segment 4. Segments should be unique in a meaningful way 5. Segments should be large enough to provide scale 6. Target accounts should fall clearly into one segment or another 7 SEGMENTATION BEST PRACTICES
  20. 20. CUSTOMIZING THE VISITOR EXPERIENCE
  21. 21. © 2019 DEMANDBASE SLIDE 21 BUILDING CUSTOMIZED WEB EXPERIENCES Start simply § The simpler the personalized experience is, the better. A single change in the text or an image can have a significant impact on decreasing bounce rates and increasing time on site. § Prepare, prepare, prepare. Discuss your web engagement strategy with your marketing teams, web team, product marketing team (for content and messaging), and other stakeholders. § Start with small changes, like adjusting the home page banner to be industry specific. For example, a different visual and/or headline for each of your target industries.
  22. 22. © 2019 DEMANDBASE SLIDE 22 CUSTOMIZATION EXAMPLE: GENERIC WEBSITE Building automation company targeting 2 segments: 1. Hospitals 2. Universities Home page elements to Personalize: 1. Top banner 2. Headlines 3. Subheads 4. Body copy
  23. 23. © 2019 DEMANDBASE SLIDE 23 WEBSITE CUSTOMIZED FOR HOSPITALS Relevant Content Industry Image Updated Tagline Industry Association
  24. 24. © 2019 DEMANDBASE SLIDE 24 WEBSITE CUSTOMIZED FOR HOSPITALS Relevant Content Industry Image Updated Tagline Industry Association
  25. 25. © 2019 DEMANDBASE SLIDE 25 AD TO LANDING PAGE FOR ENGAGEMENT
  26. 26. © 2019 DEMANDBASE SLIDE 26 AD TO LANDING PAGE FOR ENGAGEMENT
  27. 27. © 2019 DEMANDBASE SLIDE 27 AD TO CONVERSION PAGE
  28. 28. © 2019 DEMANDBASE SLIDE 28 AD TO ON-SITE WEB PERSONALIZATION
  29. 29. © 2019 DEMANDBASE SLIDE 29 A NOTE ON FORMS Forms – it’s a love hate thing § Marketers have relied on forms to capture everything they can about a site visitor § But, with the shift to buyer control and centricity, forms have become a friction point § They’re too long, error prone § They interrupt the visitor’s search for information § Folks don’t want to fill them out § Folks lie Increase in conversions by reducing number of form fields to less than 10 120% Increase in conversions by reducing number of form fields to less than 4 160% SHORTER FORMS DRIVE CONVERSION
  30. 30. © 2019 DEMANDBASE SLIDE 30 A NOTE ON CHAT Impact of personalized chat 1. Increased conversion by 20% 2. Customers 3x more likely to buy Home page chat bot (Awareness) Blog chat (Education) Solution page chat (Decision) 1. and 2. 3. 305% ROI from sales chat 4. 120% ROI on customer service chat 3. 4.
  31. 31. MEASURING ENGAGEMENT SUCCESS
  32. 32. © 2019 DEMANDBASE SLIDE 32 ENGAGEMENT SUCCESS METRICS • Bounce rate • Time on site • Page views • Pages/visit • Downloads • Form fills • Accounts on site • Net new accounts on site • Visitors/account • Visits/account • MQLs • SALs • MQL/SAL conversion rate • Marketing influenced pipeline • Target account close rates • Target account revenue • Target account deal size • Target account days to close Engagement Metrics
  33. 33. © 2019 DEMANDBASE SLIDE 33 ENGAGEMENT SUCCESS MEASUREMENT WORKSHEET
  34. 34. © 2019 DEMANDBASE SLIDE 34 ABM SUCCESS METRICS • Bounce rate • Dwell times • Page views • Pages/visit • Downloads • Form fills • Accounts on site • Net new accounts on site • Visitors/account • Visits/account • MQLs • SALs • MQL/SAL conversion rate • Marketing influenced pipeline • Target account close rates • Target account revenue • Target account deal size • Target account days to close ABM is a full funnel play
  35. 35. © 2019 DEMANDBASE SLIDE 35 ABM SUCCESS METRICS • Bounce rate • Dwell times • Page views • Pages/visit • Downloads • Form fills • Accounts on site • Net new accounts on site • Visitors/account • Visits/account • MQLs • SALs • MQL/SAL conversion rate • Marketing influenced pipeline • Target account close rates • Target account revenue • Target account deal size • Target account days to close Business Success
  36. 36. VMWARE DEMANDBASE SUCCESS STORY
  37. 37. © 2019 DEMANDBASE SLIDE 37 ABM PROGRAM, ROLES AND RESPONSIBILITIES PHASE 1 PHASE 2 PHASE 3 • Agree on targets and audience • Mktg appends target account list with segmentation data • Mktg builds audiences in DB Platform. • Develop relevant messaging and content • Develop segmented campaign creatives • Setup nurture flows • Gather key metrics and KPIs weekly • Provide target account web engagement data weekly or bi-weekly • Implement ABM data management. • Launch digital campaigns for targeted segment • Identify high value pages to personalize • Personalize high value pages by segment • Personalize form pages • Share campaign plan with field, comms, brand, sales marketing leadership etc. WHAT WORKED? WHAT DIDN’T Revise: • Target account list & segmentation strategy • Sales and marketing alignment practices • Ad creative • Personalized experiences • Content strategy • Department-wide alignment MARKETING OPS / ANALYTICS [1] SALES, EDA, FIELD AND DIGITAL MARKETING [1] DIGITAL MARKETING [1] CAMPAIGN OWNERS [1] MARKETING OPS / ANALYTICS [1] DIGITAL MARKETING [1] DIGITAL MARKETING [1] [1] = Represents RACI Planning Execution Measurement/Planning
  38. 38. © 2019 DEMANDBASE SLIDE 38 Key for successful Personalization: Know more about site visitors How Demandbase helps VMware: Identify site visitors’ company name, industry vertical, company size aka firmographics 1. Accelerate Buyer Journey Target propensity-based accounts and verticals 2. Behavioral Analysis Traffic analysis of top pages, assets, bounce rate 4. Prioritize Audience Audience overlap analysis 3. Expand Reach Using Machine Learning Look-alike models and intent data Top Use Cases HOW VMWARE LEVERAGES DEMANDBASE WITH WEB PERSONALIZATION
  39. 39. © 2019 DEMANDBASE SLIDE 39 HOW VMWARE LEVERAGES DEMANDBASE WITH WEB PERSONALIZATION: IN ACTION Non-Personalized Personalized Account Based Targeting on .COM Global US English Home Page (www.vmware.com) Long, scrolling page with multiple CTAs Concise page with content focused on one BU Results: ü Bounce Rate: 5% - 10% improvement ü >100% Lift in CTR over non personalized content ü Optimizations increased form conversion rate by 2X and CTR by 1.5X Home Page Take Over: Started with a PILOT. Now ~10 Campaigns We Call It
  40. 40. © 2019 DEMANDBASE SLIDE 40 HOW VMWARE LEVERAGES DEMANDBASE WITH WEB PERSONALIZATION: IN ACTION…CONTINUED 0.X% CTR compare with no clicks on non- personalized content Industry Vertical: Healthcare Account Based Targeting Personalized content had 300% Lift in CTR compare with non- personalized content
  41. 41. © 2019 DEMANDBASE SLIDE 41 ACCOUNT BASED WEB PERSONALIZATION üBehavioral analysis of accounts: Audience size, pages being visited, time spent, bounce rate üTargeting first visit is important üTimely sync ups between teams, refresh of accounts and content üFollow up leads to continue journey, cross-sell, up- sell, support üA/B Test messaging/ content ü Best performing personalization tactic when combined with behavioral data ü 5% - 10% improvement in bounce rate (Complex KPI J in comparison with CTR) ü Exponential QoQ growth in responses due to new campaigns, expansions to multiple web properties, continuous optimizations Performance @VMware Best Practices… Always
  42. 42. © 2019 DEMANDBASE SLIDE 42 1. Engagement matters – it builds connections and profits 2. Don’t try to boil the ocean – start with a few segments when personalizing 3. Shorten forms 4. Lean in on intent 5. Measure business impact KEY TAKEAWAYS
  43. 43. Q&A STARTS NOW!
  44. 44. © 2019 DEMANDBASE SLIDE 44 • ABM Master Class: Engagement Slides (available on demand) • The B2B Marketer's Guide to Website Personalization and Engagement RESOURCES
  45. 45. THANK YOU

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