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8 B2B Marketing Trends for 2013 from hawkeye

  1. Eight B2B Marketing Trends for 2013 JOHN  TEDSTROM   Managing  Director,  Insight  &  Strategy   hawkeye  
  2. 1.  Back to the basics 2.  Old school meets new school 3.  Content quality over quantity 4.  Social CRM delivers more than hype 5.  Taking marketing and sales collaboration to another level 6.  Finding the value in big data 7.  Experience matters 8.  Getting real about measurement Eight B2B Marketing Trends for 2013 2  
  3. 3   back to the basics
  4. It’s easy to be distracted by the hype surrounding new marketing opportunities in B2B marketing. Content marketing, brands as publishers, social media, apps, QR codes, augmented reality, marketing automation and sales automation have caused some B2B marketers to lose site of the fundamentals of developing and implementing a sound marketing strategy. Who is the target – by vertical, segment and role? What are their needs? What business challenges and pain points do they face every day? What does their buy cycle look like, and how can you support them through it? What are competitors doing in their marketing, and what can you offer that competitors can’t? 2013 is the year where getting back to the basics helps make the new tools of marketing work even more effectively. §  Understanding the customer and mapping the customer’s journey will be key in 2013 (Forrester) §  According to a 2013 MarketingSherpa report, only 36 percent of marketers segment based on behavior. Even fewer, 30 percent, segment based on sales cycle. Marketing Sherpa §  Targeted and segmented lead nurturing emails generate an 8% click-through rate compared to general email sends, which generate just a 3% click-through rate. Hubspot Back to the basics 4  
  5. 5   Motorola Solutions focused on bringing their brand promise to life – “we innovate to mobilize and connect people in the moments that matter” – as well as taking a deeper view of their customers in order to engage them in a more relevant and compelling way. In their Rise campaign, communications focused on segments of professionals, not businesses, featuring a solution-based narrative showing how Motorola solutions can improve network functions. Print ads drive traffic to Motorola’s website to read more in-depth information on how they can help different segments solve their issues. The centerpiece of the campaign is a branded video that shows various critical moments for firefighters, transportation professionals, industrial works and how Motorola’s solutions enable them to connect to people during the moments that matter. Examples
  6. 6   Implications for marketers: •  Understand your target audiences in detail, their needs, pain points/business issues and what they are trying to accomplish. To get their attention, position your brand as a thought leader and problem solver for their issues, then show them how your solutions can help solve their problems. •  Map the buyer’s purchasing journey. Then look at the thought process the buyer goes through and how you can support their decision making. •  Identify key touch points and develop marketing pieces that will move the buyer through the purchase cycle. Content should be customer- centric and allow the buyer to easily interact with the brand.  
  7. 7   old school meets new school
  8. Old school meets new school 8   Today, the lines are blurred between digital and physical, high touch and high tech, marketing/sales automation and personal selling. B2B decision makers want to interact where, when and how they choose, on their device of choice. We’re seeing three key trends in this area: The digital and physical worlds have merged. Decision makers move seamlessly between channels to access information and content from partners and manufacturers. Smartphone and tablet use for business is increasing. Marketers are responding with multichannel marketing campaigns that enable it. To make the most of this, campaigns must add value and provide a seamless experience across all channels. Resurgence of personal selling. Marketing and sales automation have taken off in the last few years as B2B decision makers are entering the sales funnel far later in the buy cycle and their need for content has grown. But we’re also seeing the importance of face-to-face contact increase equally. New-school technology can only take us so far, and then old-school relationships and relationship selling takes over. Direct mail makes another comeback. Combining direct mail with digital is an effective lead-generating tactic that lifts overall response. Dimensional mail in B2B outperforms flat, with the right economics. And the economics work better because of the higher value of the sale. Today, more companies are integrating direct mail with online efforts to create a compelling conversation with the customer and drive higher response and engagement. And in every case, we see performance lift as we add integrated channels to the mix.
  9. 9   Nuance Communications, a provider of call center technology, outlined the buyer’s journey for six verticals and mapped content to each stage to power a targeted campaign that opened doors with a personalized, high-impact DM piece. The personalized direct mail piece drove recipients to a personalized content portal where they successfully sparked a conversation with relevant white papers and product materials on how they can improve their customer call center experience to increase customer loyalty. A series of emails was also sent that drove recipients to download specific pieces of content as well. The campaign achieved an overall response rate of 38%, and $6 to $10 million in new pipeline revenue makes for a solid bottom line.   Examples
  10. 10   Siemens has found that face-to-face conversations at trade shows are still very effective in establishing relationships with customers. To generate more face-to-face meetings and start a personal conversation with healthcare professionals at trade shows, they integrated SMS marketing, apps and social media. One trade show smartphone app asks the user to text in a keyword, then the app asks the user to enter their email address to receive brochures, white papers and other content. Siemens offers VIP sessions at their trade show booths, which can be set up via text message. Their trade show app then sends a text alert 15 minutes prior to the meeting. The app also guides the user to specific products at the trade show and connects the user to content regarding products the user is interested in.   Examples
  11. 11   Implications for marketers: •  Make the most of both digital and physical worlds by looking for ways to bridge them together. •  Look for opportunities to leverage business professionals’ multiscreen behavior by linking media options and creating a seamless cross- channel experience. •  Understand the new purchase funnel and how your customers make brand decisions with today’s information and tools.  
  12. 12   content quality over quantity
  13. Content marketing has become the most important part of many B2B marketers’ customer engagement plans. Some research has even suggested quality content may be more important in customer acquisition than the products themselves. This is a result of the huge growth in marketing automation and lead nurturing programs, the growing impact of blogging and social media, the importance of search visibility and changes in buyer behavior in the buy cycle. But the result has often meant simply more content. Content marketing leaders are increasing focus on customer needs, roles and stages in the buy cycle. And more B2B marketers are innovating with a faster-read, visual story across multiple channels like YouTube, Instagram, Google+, Pinterest, Facebook and Twitter by using imagery, video, infographics and photography. •  According to 3M Corporation, 90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text. Publishers that use infographics grow traffic an average of 12% more than those who don’t (Ansonalex). •  70% of buyers say they review four or more pieces of content prior to making a buying decision, if the purchase is greater than $10K (Marketing Profs) •  91% of B2B marketers now use content marketing as part of their marketing mix (Content Marketing Institute) •  B2B marketers spend 33% of their budgets on content marketing, and 54% plan on increasing that percentage (Content Marketing Institute) Content quality over quantity 13  
  14. Cisco’s “Tomorrow Starts Here” campaign used Facebook, Twitter hashtags, an infographic, a series of blog posts and a mobile app to guide customers through the possibilities of the “Internet of Everything.” Cisco also uses online video and white papers to help tell their story on the value of technology and how Cisco can contribute. 14   GE’s Instagram feed gives users a richer look into the company’s groundbreaking research and technology, and how they contribute to businesses. A recent post is an engineer working on a plane engine inside a Turbulence Control Structure at the GE aviation facility in Peebles, Ohio. American Express engaged small business owners with their “State of Women-Owned Businesses Report,” presented through an infographic campaign using compelling charts rather than as a 70-page, copy-heavy report. The infographic was the most clicked OPEN Forum story ever and boosted engagement by 30%. Examples
  15. §  Implications for marketers: •  The most effective content reinforces the brand promise and connects with customers’ issues/challenges/pain points or needs in a unique way. •  Content should be compelling, engaging and differentiated from content your competitors provide. Photos and video are the most engaging content; infographics are popular because they offer the user the advantage of speed. 15  
  16. 16   social CRM delivers more than hype
  17. In the past few years, there’s been a lot of build up around social CRM. Most of the hype has been from B2C marketers adding social tools to marketing and customer service programs. But B2B marketers are also seeing value. Social CRM may be the next step in social selling, integrating social networking into traditional CRM; allowing you to connect to your social networks and your contact’s social networks, social discovery and engagement and the ability to track and aggregate this information into contact records regardless of origination points. Marketers and salespeople should be able to listen and respond to conversations, identify most valuable customers and prospects and engage them individually to sell additional products and services, while managing these conversations on multiple channels and associating them with an individual contact. As the applications add features, 2013 may be the year where companies and social CRM providers get past the hype and focus on tying B2B social activities to clear and measurable business. •  Spending on social applications to help sales, marketing and customer service processes was expected to pass $1 billion worldwide in 2012 (Forbes) •  By year end 2013, B2B organizations using social CRM applications will represent 25% of all projects worldwide, which is an increase from fewer than 10% in 2011. (Gartner) •  Effective use of sales intelligence (utilizing data from social conversations) increases revenue productivity per sales rep by 17% (CSO) Social CRM delivers more than hype 17  
  18. Cisco assembled a team of 1,500 social media ambassadors to seek out conversations around Cisco’s products and then join the conversation by using social CRM platform Radian 6. Averaging 5,000 to 7,000 mentions per day, with 3% of those being action-based conversations, Cisco created a social media strategy and playbook so ambassadors know what to do once they have identified conversations. They prioritize conversations into groups by classifying brand mentions into the following categories: question, lead, general buzz, critic, support, idea and ambush. The top priorities receive a response within 24 hours through social media, the second priority group receives a response within 72 hours and the least priority group (general buzz, ideas, critics) receives a discretionary response. Cisco input specific words or triggers that would have social posts routed to specific teams. By addressing customers’ needs and issues through social media, Cisco is not only able to nurture leads and close sales, but create a strong brand experience that generates positive word-of-mouth mentions among the community. 18   Examples
  19. 19   Implications for marketers: •  Evaluate vendors and tools based on how well they function on a level deeper than monitoring the conversation and measuring sentiment value. •  Look for the ability to integrate social tools with common CRM functions – allowing tracking and monitoring of conversations with individuals and enabling true CRM functions, like contact management. •  Tie social media efforts to clear and measurable business objectives.
  20. 20   taking marketing and sales collaboration to another level
  21. CMOs are spending more on IT. They have more information about every stage of the buying cycle. Sales wants that information. Because marketing is expected to justify their spending through ROI or new revenue, they’ll need more frequent and collaborative input from sales to score leads, track conversions and map them to revenue. To enable the sales conversation, marketers not only need to provide sales-ready leads in real time, they also need to provide the insights on the customer to help close them, including all prior marketing touches, critical needs, pain points and all content interactions. §  If a lead is not followed up with within 20 minutes, the likelihood of converting that lead to a sale drops dramatically (MIT) §  Effective use of sales intelligence increases revenue productivity per sales rep by 17% (Eloqua) §  Companies with a fully aligned approach to sales and marketing achieve an average three-year growth rate of 24% (SiriusDecisions and Forrester) §  Businesses that have the greatest degree of alignment grow 5.4 points faster than their less aligned counterparts when compared with business in the same industry, close 38% more proposals than non-aligned businesses and lose 36% fewer customers to competitors (Hugh MacFarlane, CEO and founder of MediaMathMarketing) Taking marketing and sales collaboration to another level 21  
  22. F5 Networks aligned their marketing and sales teams with weekly collaboration meetings on promotions, feedback on specific leads and marketing programs; used a marketing automation platform to track, score and distribute high-quality leads; and nurtured high- quality leads further in the sales cycle. Strong results included an increase of higher- quality leads (13.2% versus 1.7%) that hit the pipeline in days versus weeks, higher conversion rates and $38.70 in purchases for every $1 in marketing. 22   Examples
  23. 23   Implications for marketers: •  Involve sales and marketing in building an integrated go-to- market strategy to ensure they are working toward a common set of objectives and targets. •  Consider managing sales and marketing activities as a single integrated revenue cycle. •  Develop a shared understanding of most valuable customers and how and why they choose to buy. Define buyer personas, roles and content needs by segment. •  Share understanding of customers’ critical business issues and align the company’s key capabilities with them. •  Agree on Key Performance Indicators (KPIs) and lead scoring criteria and report on a regular basis so operations and programs can continuously be improved.
  24. 24   finding the value in big data
  25. Although companies have access to vast amounts of customer data, its value comes from how it’s leveraged. Some of the highest-value uses include mining data from online behavior to drive remarketing/retargeting programs and using social data to uncover opportunities to engage customers in real time. Companies that leverage big data are already seeing an increase in sales. In our own hawkeye testing with clients we are seeing up to 12X performance improvements in specific big data pilots. §  With the need to combine customer behavior data from multiple channels, big data will drive $232 billion in IT spending. More technology companies will be focusing on launching data services that will make it easier to access and analyze real-time customer data. (Gartner) §  Leveraging data can drive 70% more revenue (SiriusDecisions) §  49% of enterprises are focusing big data efforts on customer insights, segmentation and targeting to improve overall performance (McKinsey & Company) §  More systems will be put into place to better capture and control the inflow of data streams and to segment the data in granular levels in real time (McKinsey) Finding the value in big data 25  
  26. 26   HP uses a data management platform (DMP) in order to personalize content and send targeted communications to customers. The company uses analytics to understand what and where they buy and to understand their relationship. HP remarkets to people by executing a specific email or targeted offer through direct mail or banner advertising to customers who have shown previous interest. Their remarketing efforts have yielded a much higher ROI since it meets the needs of the customer in a way that a mass direct marketing campaign does not. Once a customer relationship is established, value-added content that the customer finds essential is sent to them online and through email in a format the customer prefers. Data on user behavior is also being used to drive a better overall brand experience. In addition to improving HP’s marketing communications, the value of customer data has enabled them to better serve content on its website. Retargeted banner ad on LinkedIn after the customer, Chris, made an HP purchase. Behavioral targeted B2B e-newsletters drove a 300% open rate and a 600% click-through increase. Examples
  27. 27   Implications for marketers: •  Involve centralized data collection and usage as much as possible. •  Get as much information on who you are selling to and what you are selling them. Have a strong understanding of their reasons for purchasing from you. •  Capture and analyze behavior in real time instead of focusing only on previous purchases and behavior because customers’ interests, intentions and goals consistently change during the year.
  28. 28   experience matters
  29. Experience matters 29   The customer experience may matter even more in B2B than B2C. Business professionals are researching products and seeking products and solutions on websites and via tablets and smartphones. They have come to expect an optimized user experience, just as a consumer would. And given limited time availability, it’s even more important to help them get in, find what they need quickly and get out. B2B marketers who have been active in optimizing the experience across the customer lifecycle have seen greater sales and loyalty than those who haven’t. Mobile-enabled companies including Siemens, UPS and Intuit have generated a significant competitive advantage. With touch screens, GPS navigation and video functions, mobile provides new and creative ways to interact with business professionals. IBM created an app that incorporates video chat to allow customers to troubleshoot a problem with a technician in real time. Siemens launched a service app that allows customers to scan a barcode for any industrial equipment and pull relevant facts and manuals for the product right on the spot. §  There is a strong correlation between a company’s customer experience index score and purchase intent/ customer loyalty likelihood to recommend (Forrester) §  A two-second delay in website response time reduces customer satisfaction by 3.8% and a 4.3% loss in revenue per visitor (Microsoft) §  72% of smartphone owners report that they want mobile-friendly sites, 67% are more likely to buy on mobile-optimized sites versus ones not optimized and 74% will return later to a mobile site that functions well (Google)
  30. 30   IBM has shifted their marketing efforts to become more mobile and social in order to adapt to their customers’ behaviors. According to Forrester Research, 38% of enterprise c-suite executives already access vendor websites through a smartphone and 28% use a tablet. IBM launched an optimized mobile website, focusing on simplicity and ease of use, allowing access to case studies, interactive demonstrations and images of software screens on how IBM helps businesses in various industries drive better business decisions. Drop-­‐down  navigaKon       First  page  “Help  us  gather  data  on  big  data”       Full  website       Examples
  31. 31   Intuit changed their strategy and optimized their website, Facebook page and small business insights blog so it can be viewed on any device or platform, and recently launched global-ready training for QuickBooks Online for small business owners that can be viewed on any mobile device. The company has seen that trained users are twice as likely to recommend the product. The experience has created the halo effect of “Hey, I’m using your software and I’m able to access software via a mobile device or an iPad or iPhone.” Their training apps feature social sharing tools so users can post to their social media network that they have been certified and completed the training program. Examples
  32. 32   Implications for marketers: •  Always take a user-centered view – understand customer needs, behaviors and preferences across touch points. Understand how competitors serve them. Know their most important tasks and ensure a simple, straightforward and high-value experience for those tasks, regardless of platform or device. •  Look for opportunities to deliver brand clues that differentiate the experience and strengthen the unique value of your brand. •  Optimize apps and websites so they are accessible from any mobile device. Provide options for people to upload comments and photos from any device. Driving users from a mobile social media campaign to a web page that is not optimized for mobile is a recipe for irritation and disaster. •  Use customer surveys and other feedback tools to continue to improve the experience.
  33. 33   getting real about measurement
  34. CMOs are under pressure for accountability, and ROI is the prevailing metric cited. We would expect strong internal organizational pressure to get the necessary data to measure across channels. We would also expect strong near-term pressure to develop ROI baselines as soon as possible, and then begin measuring against that baseline.    But the challenge for most organizations is that the need for immediate results is not generally tolerant of the time needed for changes to the measurement process. Once a process is baselined, it must be repeated. But CMOs don’t have a year or more to develop the full funnel of measurement.   We recommend to clients that they wait to baseline ROI until they have true full-funnel attribution visibility. In the meantime, they should negotiate small areas of ROI accountability where the data is accessible and attribution can be understood (e.g., online-to-online remarketing, DM/EM second touch campaigns). Simultaneously, marketers should dislodge small percentages of siloed marketing budgets for centralized measurement pilots (e.g., ask for 5% of annual DM budget).   They can use those pilots to develop multitouch conversational campaigns with relevant offers, and the necessary measurement strategy in place. This dual strategy will show some measurement success and help create a baseline ROI measurement and a business case for broader implementation of integrated multichannel marketing. §  Two-thirds of CMOs believe marketing ROI will be their top effectiveness measurement by 2015 (IBM) §  Only 42% of marketers say they can “see” the total marketing funnel with multichannel attribution and understand the value of multiple marketing channels to a conversion (BtoB Magazine study) Getting real about measurement 34  
  35. 35   ING Bank gained a 3X lift in its response rates by placing a focus on personalization and analyzing responses across multiple channels to determine, prioritize and deliver next-best actions to customers across multiple channels. And the bank reduced its marketing costs by 35%. The bank personalizes marketing communications based on historical client data and recent interactions. Campaigns are coordinated across inbound and outbound channels, which channel selection based on customer activity and past response. ING maintains norms for minimum response levels for each next-best action proposition to ensure that offers are moved across channels based on minimum response rates. Instead of focusing entirely on ad hoc campaigns, ING runs its campaigns on a continuous basis. By collecting customer responses from different channels and feeding them back into its marketing analytics platform, the bank can continuously optimize and personalize offers made to customers. ING uses a detailed marketing campaign dashboard that monitors all campaigns via all channels on a daily basis. Campaign responses, sales and net present value are monitored through the entire sales funnel and are available in one report. The bank also has a comprehensive stimulation tool to test the performance of each campaign before it goes live. Examples
  36. 36   Implications for marketers: •  Analyze conversion pathways. They can be a useful window into the confusing and complex set of marketing strategies in play. We are learning that a large volume of conversions come to clients’ sites because of a specific banner ad or paid search result. Knowing this we can construct a more relevant conversation. •  Simple measurement for simple strategy.  The multichannel measurement strategy must follow multichannel marketing strategy. There is a tendency in the marketplace to piece together a story where one was never intended. Create and execute a strategy, then measure it. •  Design of experiment. Successful measurement requires an integrated design that accounts for proper volumes through each channel. In a status quo environment, quantities are dictated by budget (and making sure to spend it all).
  37. we create extraordinary experiences that matter. §  hawkeye: We create extraordinary experiences for clients and their customers using insight, analytics and innovation to develop ideas that drive brand affinity and business success. Through social, mobile, digital, event and direct channels, we help clients inspire action to accelerate brand growth. §  We don’t talk at people. We engage them with breakthrough experiences in the right channel at the right time with the right message in the right context. We help you figure out who your consumers are, what they value, where they look for it and how they prefer it to be offered. Using integrated digital capabilities and creative solutions that drive results, we inspire your customers to act by clicking, tapping, emailing, texting, calling, participating in an event, joining the conversation, making a purchase through digital channels or going to a brick-and-mortar store. And, we measure everything to give you the results you need. §  For additional insights, email us or give us a call. JOHN TEDSTROM Managing Director, Insight & Strategy c) 970.376.0269 0) 970.476.2071 X5301 About hawkeye 37