B2B Marketing Success Predictions
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The document summarizes the results of a 2014 study by Osterman Research on how B2B marketers use CRM and marketing automation platforms. Some key findings include that 69% use Salesforce and 36% use Marketo. Over half of organizations rate their marketing success between 5-6 on a 7-point scale. Most measure success through lead volume and revenue. Generating quality leads is a top marketing issue. Over half do not know their lead to opportunity or opportunity to close rates.
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B2B Marketing Success Predictions
- 1. Welcome to Predict 2014 Doug Camplejohn Founder & CEO, Fliptop
- 3. #predict2014 Why are we here? It’s 2014, yet most B2B sales & marketing is still a guessing game.
- 4. #predict2014 2014 Osterman Research Study • Reached out to over 500 B2B Marketers • Using SaaS CRM and/or Marketing Automation Platforms • Initial results being released for the first time today
- 5. #predict2014 Number of sales reps 20
- 6. #predict2014 Number of customers 300
- 7. #predict2014 CRM solution used 21% 5% 12% 69% 7% 7% 5% Microsoft Dynamics NetSuite.com Oracle/Siebel Salesforce.com SAP SugarCRM Other
- 8. #predict2014 Marketing automation solution used 21% 14% 11% 36% 11% 21% Eloqua Other Pardot Marketo SilverPop Hubspot
- 9. How would you rate your organization’s marketing success on a scale of 1 to 7, where 1 is “very poor” and 7 is “we’re as successful as we can be”? #predict2014 0% 2% 13% 17% 54% 13% 0% 1 2 3 4 5 6 7 60% 50% 40% 30% 20% 10% 0%
- 10. #predict2014 How do you measure your marketing success? Brand awareness, traffic and lead volume Opportunity volume Revenue / Closed won volume 60% 50% 40% 30% 20% 10% 0%
- 11. #predict2014 Top marketing issues you face Generating high volume of quality leads Lack of resources/cooperation Entering new markets 60% 50% 40% 30% 20% 10% 0%
- 12. Top complaints or issues with your marketing organization #predict2014 Marketing is not doing its job Not enough quality leads Inadequate content/collateral Inadequate name recognition 25% 20% 15% 10% 5% 0%
- 13. Does your organization use any sort of lead scoring system? #predict2014 50% 50% YES NO
- 14. #predict2014 What variables go into scoring leads? Website visits Demographics Form completes Email Opens & Clicks Number and type of downloads Pages viewed Time on site 40% 35% 30% 25% 20% 15% 10% 5% 0%
- 15. Do you license or otherwise use any external data for scoring leads? #predict2014 9% 91% YES NO
- 16. #predict2014 How do you choose the score for each activity/variable? It's guesswork Compare variable against pipeline / win 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
- 17. Do you test overall scores to see if they correlate to wins? #predict2014 35% 65% YES NO
- 18. #predict2014 Frequency of these tests 12% Monthly 37% 50% Quarterly Weekly
- 19. How would you categorize these leads based on their quality? #predict2014 13% 22% 26% 20% 18% Excellent Good Fair Poor Don't know
- 20. Do you know your average lead-to-opportunity conversion rate? #predict2014 54% 46% YES NO
- 21. Do you know your average opportunity-to-closed-won rate? #predict2014 52% 48% YES NO
- 22. #predict2014 We’ve got some work to do The evolution is underway from brand marketer to click marketer to revenue marketer. Let’s all be Revenue Marketers.
- 24. Is your company primarily a business-to-business (B2B) or business-to-consumer #predict2014 (B2C) focused vendor or provider? B2B B2C
- 25. How do you measure your marketing success? (answers under 5%) #predict2014 6% 5% 4% 3% 2% 1% 0%
- 26. Marketing issues that an organization faces (answers under 3%) #predict2014 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0%
- 27. How do you choose the score for each activity/variable? (mentioned only one time) • Based off the line of business owners/product owners input • Based on how likely we think the activity is as a precursor to predicting a good lead • Based on level of engagement importance • Based on level of title • Based on long term experience of company principals • Based on type of content being viewed • Compare their actions to movement thru the sales funnel ultimately to a win • If company is in our top accounts list • It depends on the level of interaction required by the lead to get the information. Opening an email has the lowest point value while attending a webinar has a much higher point value. • Legacy scoring systems • The closer the activity is to closing a deal, the higher point grade it yields • The Rep does this • We have an agreement with our VP of sales as to what constitutes a sales quality #predict2014 lead. We built backwards from that to make the scores work.
- 28. #predict2014 How do you measure if scores are working? 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0%
- 29. #predict2014 To what extent do you agree with each of the following? 1. We need to improve the quality of trade show leads 2. We need to improve the quality of leads generated by our Web site 3. We need to improve the quality of leads generated by content marketing activities 4. We need to have more information about our leads 5. We need to better categorize our leads Lead scoring would not improve or impact our sales 6. We spend too much time chasing leads that will never convert to sales 7. We don’t know how to measure if our lead score system is working 8. We continue to hand pick leads, despite using a lead scoring system 9. We don’t know how to fully maximize the use of our lead scoring system 10. Our lead scoring system does not really impact our sales 11. We would feel more comfortable with lead scoring if we received extra help understanding and using the technology
- 30. #predict2014 During a typical month, how many leads do you receive? 100
- 31. #predict2014 We’ve implemented tools
- 32. #predict2014 But we’re not using them to their potential
- 33. #predict2014 We mostly guess at where to spend
- 34. #predict2014 And how to value things
- 35. #predict2014 And we’re not really on top of the metrics we should be
- 36. #predict2014 But we’re not using them to their potential
- 37. #predict2014 Your opinion about marketing 32% 80% 28% 30% We are taking advantage of all the data on our leads that we have at our disposal There is room for improvement in our marketing programs We know just what we need to do to improve our marketing programs We use the lead scoring function in our marketing automation software
- 38. #predict2014 How do you measure the success of your lead scoring? 18.2% 18.2% 18.2% 45.5% We don’t measure it We measure scores against pipeline created/closed/won at least once a year We measure scores against pipeline created/closed/won at least once a quarter We measure scores against pipeline created/closed/won at least once a month Not sure
- 39. #predict2014 Thanks to our sponsors And our Media Partner
Notes de l'éditeur
- Thank you so much for being here. It’s going to be a great day. I know you’ve got a lot of demands on your time, and it means a lot that you decided to spend the day wkth us.
- We started Predict last year with one goal - to create a forum for B2B marketers like you to meet, learn from experts and exchange ideas that would help you transform your marketing efforts. I’m incredibly excited by the lineup of folks we have here to serve that purpose, and I hope you are, too.
- Why are we here talking about B2B marketing and data? The fact is that it’s 2014, yet most B2B sales & marketing is still a guessing game. We throw money at different programs to see what sticks. We assign best guess scores to activities in our marketing automation systems. We use “rules of thumb” to see if we’re going to make our number for the quarter.
- I’m not just saying that. We did the research. Last month, we commissioned Osterman Research -a 13-year old Market Research firm based out of Washington–to do a research project where they interviewed over 500 B2B marketers. The final tallies are still coming in, but you are the first people in the world to hear the early results, and we will share a final copy with each of you once it’s published. Here are just a few highlights.
- Median of 20 sales reps Mean of 285
- Median of 300 customers Mean of 31,209 customers
- Salesforce is the top CRM system used, followed by Microsoft Dynamics
- Marketo is the top Marketing Automation system used, followed equally by Eloqua and Hubspot
- Now overall, these marketers think they’re doing pretty well (average of 4.63), but know they could be doing better
- But they’re basing that decision on a criteria that’s still mostly measured in awareness, website and social hits, and lead volume instead of quality and revenue. We’re planning to do this survey every year from now on, so hopefully we’ll see this trend start moving toward the revenue end.
- We also asked the marketers what the top issues they faced. Not surprisingly, generating a high volume of leads for sales topped the list, but organization and budget issues came in next, followed by the challenges associated with entering new markets.
- Then we asked them an interesting question – what are the top complaints you hear about your marketing organization? Marketers, let’s face it – you’re underappreciated.
- Some demographics, but mostly activity-based scoring
- We’re basically taking stabs in the dark
- Now even though most admit the individual activity scores are guesses,, 35% claim that they are testing overall scores against wins.
- And they claim to be measuring on a somewhat regular basis.
- Only about a 1/3 of the leads we’re handing off to sales do we think are good to excellent
- There’s a lot more research as well, but you get the idea by now. We as marketers all have some work to do. As the role of CMO shifts from a brand marketer to a click/traffic marketer to a true revenue marketer, the $ and responsibilities will follow. My challenge to you is to vow to be more data-driven in the coming year, whether that’s just getting more on top of your numbers in spreadsheets, or using a new generation of marketing applications that leverage data and data science. Let’s all be more data driven. Let’s all be Revenue Marketers.
- And with that I’ll turn it back to Farkhanda to introduce our first speaker, Sean Ellis. Thank you again.
- New customers / number of deals we can make per year / closed deals
- New customers / number of deals we can make per year / closed deals
- New customers / number of deals we can make per year / closed deals
- We don’t measure it – 17% We measure it against pipeline created closed won
- I also wanted to take another moment to thank our great sponsors – Salesforce, Marketo, Demandbase, InsideView, ON24 and our media partner VentureBeat. They help make this all possible, and I hope you all take time to talk with them here and check out the stations near the registration desk.