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Optimize The funnel for B2B
- 1. Database Marketing Enables Enterprise B2B Revenue Demand Generation, Lead Optimization, Campaign Dependencies James Vander Putten ChangeMarketing February 2014 Every connection is a new opportunity™
- 2. There are two kinds of B2B marketing … selling products versus selling solutions Product Marketing • High product variety • Low value (generally) Solutions Marketing • Low product variety • High value Focus: Enterprise Solution Marketing February 26, 2014 PBI Internal use only 2 2
- 3. Enterprise Solutions marketing is a challenging process Challenge 1- Too many decision makers and influencers Product Marketing- 1 : 1 Solutions Marketing- 1: Many February 26, 2014 PBI Internal use only 3 3
- 4. Enterprise Solutions marketing is a challenging process Challenge 2- too many cooks February 26, 2014 PBI Internal use only 4 4
- 5. Enterprise Solutions marketing is a challenging process Challenge 3- too many channels to sell through Ecommerce Channel/ Partner Selling • Selling To • Selling For • Selling With Channels Direct Selling February 26, 2014 PBI Internal use only 5 5
- 6. Enterprise Solutions marketing is a challenging process Challenge 4- too many processes to manage February 26, 2014 PBI Internal use only 6 6
- 7. Enterprise Solutions marketing is a challenging process Challenge 5- too much to measure February 26, 2014 PBI Internal use only 7 7
- 8. Enterprise Solutions marketing is a challenging process Challenge 6- too much time… enterprise deals can take 6 – 18 month from discovery to close Product Availability Influencers Cooks Measurement Processes Channels Closed Deals February 26, 2014 PBI Internal use only 8 8
- 9. 15 years ago, B2B solutions marketing was a linear process managed by sellers Prospects Advertising Marketing Selling Closing Create awareness … create leads… enable trial, promote additional sales, create an advocate Customers February 26, 2014 PBI Internal use only 9 9
- 10. But the internet came along and changed everything Based on Hubspot February 26, 2014 PBI Internal use only 10 10
- 11. Sellers now have to build a process that is multi-channel and “always on” February 26, 2014 PBI Internal use only 11 11
- 12. Which is a now non-linear process referred to as the “Buyers Journey” 1 2 3 4 February 26, 2014 PBI Internal use only 12 12
- 13. Reputation Today Marketing and Sales align to leverage the buyer’s journey Status Quo Is Failing Reputation Inquiry or Prospect Committing To Change Explore the Possibilities Marketing Qualified Lead Commit to a Solution Sales Accepted Lead Justify the Decision Sales Opportunities Make the Selection Won Deal Buyers Journey Lead Journey February 26, 2014 PBI Internal use only 13 13
- 14. The new common language of B2B marketing Inquiries • Total number of hand raisers via web, events etc. Marketing Qualified Leads • Qualified using Marketing tactics based on sales requirement Sales Accepted Leads Sales Qualified Leads Deals • Deemed Qualified for first contact by Sales • Being worked by Sales • Sales owns specific pipeline $ • Opportunities “closed” … real revenue February 26, 2014 PBI Internal use only 14 14
- 15. Regardless of entry point, there is a new framework for the buyer’s journey Marketing and Sales Marketing Sales Buyer’s journey … Committing to change Exploring possible solutions Committing to a solution Justifying the decision Identifying additional needs Sales Accepted Leads Deals Lead Management Framework … Qualified Leads Inquiries Sales Accepted Leads Messaging across the journey… Education Education Solution Solution Solution Solution & Selection Selection Education Based on Sirius Decisions February 26, 2014 PBI Internal use only 15 15
- 16. The waterfall view tips the funnel on its side as inquiries cascade to deals Key Waterfall Metrics How many Conversion rates Lead Dispositions Stages Cycle time Costs Pipeline revenue Actual revenue Return on investment Based on Sirius February 26, 2014 PBI Internal use only 16 16
- 17. Data flows for Marketing and Sales optimization • Drive to forms • Owned Media • Paid media • Earned media • Data base- MA Initial Data Capture Reputation Marketing Automation • Engage • Touch type • Bizo-graphics • BANT • Lead Scores • Message Management • Data base- MA Education • Sell • Profiles • Dispositions • Best next offer • Data base- SFA Sales Force Automation Solution Selection February 26, 2014 PBI Internal use only 17 17
- 18. The end game- qualified leads … closed deals … Core campaign processes that present your value propositions to your target audience • • • • • Understanding demand type Identifying target personae Creating content supply chain across the funnel Creating a marketing tactic mix recommendation Reversing the waterfall to build the business case February 26, 2014 PBI Internal use only 18 18
- 19. Understanding demand type* New Concept- IBM laptop computer ~1986 • Disruptive • No recognized need • Purchase not allocated New Paradigm- IBM lap top intros ‘90s • Addresses existing need • New processes • Some new innovation Existing Market- SOP product, many competitors ‘20s • Replacement • Well tested • Lower priced Based on Sirius February 26, 2014 PBI Internal use only 19 19
- 20. Understanding demand type* New Concept- Personal desktop computer • Disruptive • No recognized need • Purchase not allocated Demand type affects Personae focus Messaging New Paradigm- IBM lap top computer Offer types • Addresses existing need Touch-point channels • New processes • Some new innovation Web Events Existing Market- SOP product, many eCommerce competitors • Replacement Channels • Well tested Direct selling • Lower priced Based on Sirius February 26, 2014 PBI Internal use only 20 20
- 21. Who will make/influence the buy decision? Decision Maker Plan/execute long-term Holistic view of the organization vision Accountable for project success Compete effectively Project evangelist CIO, CTO- IT Lead Find solutions to meet High-level and strategic LOB/business needs Responsible for project delivery Ensure HW/SW fit Researcher Review/synthesize information Very tech savvy Prepare recommendations for Focus on detailed solution specs management Consults re: project execution LOB Leader How is this going to make Results/metrics driven my job easier and more Consults- outcome requirements productive Financial Analyst What is it going to cost? Views solution as a business project, not an IT project What is its financial value Confirms February 26, 2014 PBI Internal use only 21 hurdle rates 21
- 22. • Identifying target personae Prioritize personae to optimize budgets and Decision Maker Plan/execute long-term Holisticcontent supply chain view of the organization vision Accountable for project success • evangelist Compete effectively Project Who matters most CIO, CTO- IT Lead • Where else can they Find solutions to meet High-level and strategic get the information LOB/business needs Responsible for project delivery they need Ensure HW/SW fit Researcher Review/synthesize information Very tech savvy Prepare recommendations for Focus on detailed solution specs management Consults re: project execution LOB Leader How is this going to make Results/metrics driven my job easier and more Consults- outcome requirements productive Financial Analyst What is it going to cost? Views solution as a business project, not an IT project What is its financial value Confirms February 26, 2014 PBI Internal use only 22 hurdle rates 22
- 23. Do you have the content you need at each stage for that personae? 70% White papers Blogs/ microblogs White papers 60% Peer referrals 50% Case studies Podcasts Webinars Newsletters Events/Webcast s User Events 20% Analyst reports 10% Video Email 30% Testimonials 40% Case Studies 0% Early Education Based on Sirius Middle Solutions Late Selection February 26, 2014 PBI Internal use only 23 23
- 24. Getting there… what you have … what you need … who … what stage Are there solutions out there for my problem? Why are your solutions best for me? How do I get the best prices for your solution? February 26, 2014 PBI Internal use only 24 24
- 25. What you end up with is the content optimized funnel Content Bits SMM PPC SEO DM EM Print Outdoor Collateral E&TS 2 Buyer’s Journey Company X has solutions for my problem Key Words 1 Buyer’s Journey - There are solutions for my problems 4 Buyer’s Journey How do I get the best solution and offer from Company X Key Words Key Words 3 Buyer’s Journey - Company X has the best solutions for my problem February 26, 2014 PBI Internal use only 25 25
- 26. Content requirements for a new paradigm product - 3 personae… 4 stages Touch-point Reputation Education Solution Selection Social Media Paid Search www.company www.partners Banners Marketing Automation Offline events Online events Tele-marketing SFA February 26, 2014 PBI Internal use only 26 26
- 27. Content requirements for a new paradigm product - 3 personae… 4 stages Touch-point Reputation Education Solution Selection Social Media Search www.company If you only create www.partners • 4 personae Banners • 4 stages Marketing Automation • 3 pieces of content each stage Offline events • 10 touch points Online events • 4 updates annually • 1,440 pieces of content needed Tele-marketing SFA February 26, 2014 PBI Internal use only 27 27
- 28. Reversing the waterfall to build the business case $ $ Start Here $ $ $ $ 44,444 200 222 20.0% 44 75.0% 33 30.0% 10 200,000 2,000,000 20.0% 10,000,000 Marketing Program Costs Cost per Inquiry # Inquiries Required % Inquiries That Become MQLs # MQLs Required % MQLs That Become Opportunities # Opportunities Required % Opportunities That become Deals Won # Deals Won Average Deal Size Marketing sourced Revenue % Revenue from Marketing Total Revenue Target Education Solution Selection 30.0% Product Margin 600,000 Marketing Margin $s Produced 14 : 1 Margin $s to Expense $s Ratio February 26, 2014 PBI Internal use only 28 28
- 29. Business case for paid search February 26, 2014 PBI Internal use only 29
- 30. The case for paid search Issue Benefit Important across most stages Yes … Reputation, Education, Solutions Do we have content Yes …forms and offers … clickto’s Aligned process Yes- drives Marketing Automation Easy to deploy Yes Scalable (regions) Yes- test in one region then rollout to others Controllable Yes … day parts, days, total spend, position based Trackable Totally- cost per click, # conversions, cost per conversion February 26, 2014 PBI Internal use only 30 30
- 31. With a 20% ROMI hurdle rate, is PPC worth doing? 12 Month Analysis for PPC Target Products Item Halo Products Total Products 12 Month Deal Revenue Number of clicks Cost per click Total Marketing Costs Clicks that convert to Qualified Leads # Qualified leads % Leads that become Deals # Deals Avg Deal $s Total deal $'s Margin % Margin $s Net Contribution ROMI $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,326 20.0% 265 2,800 742,560 18.0% 133,661 (19,658) -12.8% $ $ $ $ $ $ $ 95 21.0% 20 11,775 234,911 22.0% 51,680 51,680 100.0% $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,421 20.1% 285 3,428 977,471 19.0% 185,341 32,023 20.9% 13 - 24 Month Pipeline Projections # Qualified Leads still in Pipeline % that become Deals # Deals Average Deal $s Deal $s Margin % Margin $s Net Contribution ROMI $ $ $ $ 1,061 15.0% 159 2,100 334,152 18.0% 60,147 60,147 100.0% $ $ $ $ 75 10.5% 8 7,065 55,674 22.0% 12,248 12,248 100.0% $ 1,136 14.7% 167 2,334 389,826 18.6% 72,396 72,396 100.0% 24 Month Contribution and ROMI (1) Total Marketing Costs Total Contribution $s ROMI $ 153,319 40,489 26.4% $ 153,319 63,929 104,418 February 26, 2014 PBI Internal use only 100.0% 68.1% 31 31
- 32. With a 20% ROMI hurdle rate, is PPC worth doing if you add in year two deals? 24 Month Analysis for PPC Target Products Item Halo Products Total Products 12 Month Deal Revenue Number of clicks Cost per click Total Marketing Costs Clicks that convert to Qualified Leads # Qualified leads % Leads that become Deals # Deals Avg Deal $s Total deal $'s Margin % Margin $s Net Contribution ROMI $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,326 20.0% 265 2,800 742,560 18.0% 133,661 (19,658) -12.8% $ $ $ $ $ $ $ 95 21.0% 20 11,775 234,911 22.0% 51,680 51,680 100.0% $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,421 20.1% 285 3,428 977,471 19.0% 185,341 32,023 20.9% 13 - 24 Month Pipeline Projections # Qualified Leads still in Pipeline % that become Deals # Deals Average Deal $s Deal $s Margin % Margin $s Net Contribution ROMI $ $ $ $ 1,061 15.0% 159 2,100 334,152 18.0% 60,147 60,147 100.0% $ $ $ $ 75 10.5% 8 7,065 55,674 22.0% 12,248 12,248 100.0% $ 1,136 14.7% 167 2,334 389,826 18.6% 72,396 72,396 100.0% 24 Month Contribution and ROMI (2) Total Marketing Costs Total Contribution $s ROMI $ 153,319 40,489 26.4% $ 153,319 63,929 104,418 February 26, 2014 PBI Internal use only 100.0% 68.1% 32 32
- 33. With a 20% ROMI hurdle rate, is PPC worth doing … 24 month revenue? 24 Month Analysis for PPC Target Products Item Halo Products Total Products 12 Month Deal Revenue Number of clicks Cost per click Total Marketing Costs Clicks that convert to Qualified Leads # Qualified leads % Leads that become Deals # Deals Avg Deal $s Total deal $'s Margin % Margin $s Net Contribution ROMI $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,326 20.0% 265 2,800 742,560 18.0% 133,661 (19,658) -12.8% $ $ $ $ $ $ $ 95 21.0% 20 11,775 234,911 22.0% 51,680 51,680 100.0% $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,421 20.1% 285 3,428 977,471 19.0% 185,341 32,023 20.9% 13 - 24 Month Pipeline Projections # Qualified Leads still in Pipeline % that become Deals # Deals Average Deal $s Deal $s Margin % Margin $s Net Contribution ROMI $ $ $ $ 1,061 15.0% 159 2,100 334,152 18.0% 60,147 60,147 100.0% $ $ $ $ 75 10.5% 8 7,065 55,674 22.0% 12,248 12,248 100.0% $ 1,136 14.7% 167 2,334 389,826 18.6% 72,396 72,396 100.0% 24 Month Contribution and ROMI (3) Total Marketing Costs Total Contribution $s ROMI $ 153,319 40,489 26.4% $ 153,319 63,929 104,418 February 26, 2014 PBI Internal use only 100.0% 68.1% 33 33
- 34. With a 20% ROMI hurdle rate, is PPC worth doing … halo revenue? 12 Month Analysis for PPC Target Products Item Halo Products Total Products 12 Month Deal Revenue Number of clicks Cost per click Total Marketing Costs Clicks that convert to Qualified Leads # Qualified leads % Leads that become Deals # Deals Avg Deal $s Total deal $'s Margin % Margin $s Net Contribution ROMI $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,326 20.0% 265 2,800 742,560 18.0% 133,661 (19,658) -12.8% $ $ $ $ $ $ $ 95 21.0% 20 11,775 234,911 22.0% 51,680 51,680 100.0% $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,421 20.1% 285 3,428 977,471 19.0% 185,341 32,023 20.9% 13 - 24 Month Pipeline Projections # Qualified Leads still in Pipeline % that become Deals # Deals Average Deal $s Deal $s Margin % Margin $s Net Contribution ROMI $ $ $ $ 1,061 15.0% 159 2,100 334,152 18.0% 60,147 60,147 100.0% $ $ $ $ 75 10.5% 8 7,065 55,674 22.0% 12,248 12,248 100.0% $ 1,136 14.7% 167 2,334 389,826 18.6% 72,396 72,396 100.0% 24 Month Contribution and ROMI (4) Total Marketing Costs Total Contribution $s ROMI $ 153,319 40,489 26.4% $ 153,319 63,929 104,418 February 26, 2014 PBI Internal use only 100.0% 68.1% 34 34
- 35. With a 20% ROMI hurdle rate, is PPC worth doing … 24 month all revenue? 24 Month Analysis for PPC Target Products Item Halo Products Total Products 12 Month Deal Revenue Number of clicks Cost per click Total Marketing Costs Clicks that convert to Qualified Leads # Qualified leads % Leads that become Deals # Deals Avg Deal $s Total deal $'s Margin % Margin $s Net Contribution ROMI $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,326 20.0% 265 2,800 742,560 18.0% 133,661 (19,658) -12.8% $ $ $ $ $ $ $ 95 21.0% 20 11,775 234,911 22.0% 51,680 51,680 100.0% $ $ $ $ $ $ 16,575 9.25 153,319 8.0% 1,421 20.1% 285 3,428 977,471 19.0% 185,341 32,023 20.9% 13 - 24 Month Pipeline Projections # Qualified Leads still in Pipeline % that become Deals # Deals Average Deal $s Deal $s Margin % Margin $s Net Contribution ROMI $ $ $ $ 1,061 15.0% 159 2,100 334,152 18.0% 60,147 60,147 100.0% $ $ $ $ 75 10.5% 8 7,065 55,674 22.0% 12,248 12,248 100.0% $ 1,136 14.7% 167 2,334 389,826 18.6% 72,396 72,396 100.0% 24 Month Contribution and ROMI (5) Total Marketing Costs Total Contribution $s ROMI $ 153,319 40,489 26.4% $ 153,319 63,929 104,418 February 26, 2014 PBI Internal use only 100.0% 68.1% 35 35
- 36. Why else should you consider halo effects Attribution … what is more important …1st touch, last touch? Our campaign actually had ~10 touch points with incalculable potential touches February 26, 2014 PBI Internal use only 36 36
- 37. Halos also effect total campaign communications effectiveness Campaign Campaign Sales Force Automation Partners Trade Shows Web Marketing Marketing Automation Search Campaign Campaign February 26, 2014 PBI Internal use only 37 37
- 38. 10 Big concepts for B2B enterprise solutions marketing 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) Buyer’s journey Funnels Waterfalls Lead Dispositions Interlock Demand types Personae Offers Content mapping Halos February 26, 2014 PBI Internal use only 38 38
- 39. Thank You February 26, 2014 PBI Internal use only 39 39