Did you know that 75% of the B2B buying process is complete before the buyer ever interacts with a company? In today's world, buyers rely on knowledgeable peers with experience with your products and service first and your marketing/sales collateral last.
Chad Horenfeldt, Director, Customer Operations @Influitive and Fred Bals, Customer Program Advocacy Manager @Ektron discuss why customer advocacy is the best way to market your company and how you can build a customer advocacy program harnessing the energies of your best customers
Advocate Marketing: An Overview: Mid-Atlantic Marketing Summit September 19, 2013
1. Advocate Marketing: An Overview
Mid-Atlantic Marketing Summit
Baltimore, MD
September 19, 2013
Chad Horenfeldt @chadhorenfeldt
Director, Customer Operations @Influitive
Fred Bals @fredatektron
Manager, Media & Customer Relationship Programs @Ektron
2. 2
@chadhorenfeldt
SELECT CUSTOMERS:
About Influitive
2013 Cool Vendor in
Social Marketing
Influitive helps B2B
marketers recruit,
mobilize and recognize
an army of advocates
that outsell their best
sales reps.
WHO WE ARE:
• Founded in 2010
• Toronto, Bay Area and Boston
• >$11M raised from top tier
investors
3. 3
@chadhorenfeldt
Marketers are no longer in control of the buying
process
0%
10%
20%
30%
40%
50%
60%
70%
2006 2010 2014F
Dependence on knowledgeable peers in the buying process (B2B software buyers)
Initiates
process
Initiates
contact
Purchase
complete
75% of buying process complete before B2B buying interacts with company!
75% 25%
6. 6
Advocate reviews attract buyers
Xactly‟s FOX program
drove 262 LinkedIn
reviews, follows, and
shares, making it one
of the most visited
profiles in 2012.
7. Advocates refer the best leads
Fact: Your biggest fans spend 13% more
than the average customer and refer
business equal to 45% of the money they
spend
8. Advocates help you capture the best leads
200+
referrals
$180,000
pipeline
5%
conversion rate
“The biggest untapped resource is your existing
customer base.” Jeff Linton, Act-ON
$80,000
(Closed)
In 6 months, Act-On’s referral program drove $180K in pipeline
9. Nothing nurtures better than
customer success stories
Fact: B2B marketers cite case studies
(78%), followed by white papers (73%), and
in-person events (72%) as the most effective
content for lead nurturing.
13. 13
@chadhorenfeldt
Experience is poor for advocates today
What advocates seek:
Status
Recognition
Career value
Connections
Part of the team
Reputation
Perks
Feedback
What advocates get:
Neglect
+
Abuse
=
Annoyed
Leads to Advocate
disengagement
15. • Founded in 1998
• Headquarters in Greater Boston area
- Offices in Australia and the United Kingdom
• 200+ Employees
• Over 3,800 customers and 12,000 sites
MISSION: Empower marketers through best-in-class
solutions for WCM and DXM
WEB CONTENT MANAGEMENT
Create, deploy, and manage enterprise-
scale, global, dynamic websites.
DIGITAL EXPERIENCE MANAGEMENT
Personalize, analyze, and optimize content delivery
to digital channels – web, mobile, and social.
About Ektron
16. • A community for Ektron fans
and followers
• Influence Ektron through
participation in
betas, surveys and questions
• Recognition from Ektron
through perks and special
programs
Ektron Inner
Circle
Program
17. "Our first job in marketing is to help empower our fans to bring others on-board. That's
what makes us grow.“
~ Ken Gullicksen, Evernote COO
OUR GOALS
• Nurture our advocates
• Grow our relationships
with them
• Learn from them
• Broadcast their
advocacy of Ektron to
our markets
Who are Ektron’s advocates?
Customers –
Developers, Designers, Content
Authors, Administrators, Marketing and
other roles
Partners – Developers, Sales, Marketing
and other roles
Employees – Everyone at Ektron
18. Invite
customers, part
ners, employee
s
Mobilize them to
complete
„challenges‟
Recognize
their
achievements
Customer Advocacy in Action:
The Inner Circle helps Ektron
recruit, manage, and acknowledge its
advocates
“I could not do my job
without the Inner Circle”
20. CHALLENGE: VIDEOS
Crowd-source the “I am Ektron” customer videos to
be shown at the opening keynote.
No Recruiting!
Videos collected
on the spot.
40 “I am Ektron”
Videos Collected.
21. CHALLENGE: FUN
Mobilize attendees to build “one great song” for
keynote breaks.
“…One of the
most popular
challenges we‟ve
ever done.”
24. • Over 200 reference contacts
coordinated through EIC
• 50+ nominations for 2012 Site of
the Year
• 73 sign-ups to participate in
Beta Programs
• Feedback on Aloha
Editor, eSync, Ektron Support
• 247 Tweets, 25 LinkedIn
recommendations, Dozens of
survey
responses, testimonials, quotes,
etc.
EIC in Action
25. Download the Advocate Marketing Playbook
www.influitive.com/playbook
Questions? Need more
information?
@chadhorenfeldt
@FredatEktron
Notas do Editor
In today’s connected world, the last person your buyer is going to talk to is your sales rep.
Let’s visualize this. This person talks to that person etc..In today’s connected world, the last person your buyer is going to talk to is your sales rep. They’re going to talk to your customers – so it seems kinda crazy to leave those conversations to chance! Advocate Marketing is a discipline that puts your best customers at the center of your marketing and sales efforts – where they can sell on your behalf. It involves tools and best practices that are proven to accelerate revenue growth and offer a better buyer experience. What are the benefits of advocate marketing?People trust their peers more than salespeople. Tapping into trust can benefit your business in so many ways:Faster sales cyclesBetter buy experienceBetter brand recognition & reputationMore high quality referral leadsHigher customer lifetime valueBigger deal sizes Lower lead generation & sales costsSimpler management & mobilization of customer referencesHigher customer satisfaction
Source: Google Study, “The evolving path of today’s tech B2B customer” Sept. 2012 Getting customers to talk about their positive experiences with your product isn't a nice to have - it's a key component of any demand gen plan. For b2b marketers, every day brings new opportunities to get customers talking about products in forums where they will be heard. We track a list of more than 2 dozen such sites right now – but that’s the tip of the iceberg. Every marketer on this webinar should know who their target audience is, and where they ‘hang out’ on the web to learn about your products and services. And then you need to drive your advocates there. Because it works.
Source: SatMetrix. B2B marketers focused on capturing high quality leads continue to leave a huge hole in their demand plans by ignoring the power of advocate marketing to drive referral business. In company after company we talk to, referrals are a forgotten tactic or a poorly used one at best. Yes everyone agrees that referred deals are higher quality, move faster through the buying process and make better customers. So why aren't there more (and better) referral programs.
Source:Optify study “B2B Content Marketing Trends – 2012 Survey Results”This really shouldn’t be that surprising. In 2011, Google introduced a term the “Zero Moment of Truth.” Coined by Google in their 2011 eBook “ZMOT”, the term refers to the moment in the purchase cycle between the stimulus (what alerts you of a product, like an ad) and first moment of truth (a term used by Proctor & Gamble to refer to the decision to purchase). The zero moment of truth (ZMOT) refers to the point in the buying cycle when the consumer researches a product, often before the seller even knows that they exist. The number of consumers researching a product online prior to purchase has been on the rise in recent years as the internet and mobile continue to advance. In 2011, the average shopper used 10.4 sources of information before making a purchase decision, compared to half as many sources in 2010 (ZMOT, 2011).While Google primarily used B2C references, the ZMOT has enormous implications for B2B. Lead nurturing exists primarily because B2B buyers haven’t reached the SMOT just yet. And when they do, they are going to want authentic customer opinions and reviews of products and services. And so, case studies driving the effectiveness of lead nurturing.
Ektron overview
So, I hope that all of you are convinced that you should be considering an advocate program, and that it’s completely acceptable to bring this up with your executive team.