Conquering the New BtoB Marketing Funnel
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Conquering the New BtoB Marketing Funnel
- 1. Conquering the New B2B Marketing Funnel Bryan Burdick Corporate Development Officer
- 3. Enabling branding and direct response initiatives
- 5. Top of Funnel: Too expensive to cast a wide net
- 6. Middle of Funnel: eMarketing leaves too many opportunities on the table
- 7. Lower Funnel: Need to reach beyond these programs to really move the needle
- 8. The Answer – Effective online display is a key part:
- 9. Audience targeted display ads enable marketers to nurture leads ‘outside of the inbox’
- 10. Retargeted, personalized ads drive frequent and relevant messaging to the right audience
- 12. Does this sound like your company? Core online marketing programs… E-mail: I know who my prospect is and I’m going to build a relationship SEO, SEM: My prospects are looking for a solution and can find my company Website: As my programs drive prospects to my site, I want to engage & convert them …are mid to bottom funnel focused.
- 13. The rest of your target audience (the ones not actively searching – yet) The portion or your target audience ready to engage Display reaches 81% of a target market; Searchonly reaches 8% “The Silent Click: Building Brands Online,”Online Publishers Association in conjunction with comScore Limited Reach of “Core Programs” Too often, the lion’s share of marketing time and budget is narrowly focused on bottom of funnel…
- 15. Requires contact information which is expensive to gather and maintain
- 16. Communication is confined to the inbox
- 17. Potential customers on email only 8.3% of the time—what about the other 91.7%?*z *“What Americans Do Online: Social Media and Games Dominate Online Activity,” NielsenWire, August 2, 2010
- 18. Bizo Philosophy: If you could affordably measure, reach and educate your entire target audience… …that would significantly and positively affect your entire marketing program
- 19. Restated: If everyone in your target audience knew… …who you are? …what you do? …why you matter?
- 20. ...your critical metrics would improve across the board, wouldn’t they?
- 21. Dabbling with display You’re probably already ‘thinking outside the inbox’… Social Media: I’ll maintain a strong presence to educate and increase awareness. Display Advertising: I’ll reach prospects traveling to other sites on the Web. …but perhaps you’ve been underwhelmed or are unsure where to start.
- 22. Social media on the rise Bizo Survey: How important is Social Media marketing this year versus last year? Strategic Marketing Priorities Survey, August 2011; N=521 responses comprised of 57% in-house marketers and 31% agencies
- 23. According to active online marketers, 84% of respondents said display is as important or more important to their mix this year versus last year Same story with display advertising Strategic Marketing Priorities Survey, August 2011; N=521 responses comprised of 57% in-house marketers and 31% agencies
- 24. But…current investments are still unfocused… Strategic Marketing Priorities Survey, August 2011; N=521 responses comprised of 57% in-house marketers and 31% agencies …research shows that marketers don’t really understand the effects of their social media efforts
- 25. You need to fish where the fish are…
- 26. Doing Display Right Change your paradigm to… …nurture prospects everywhere on the Web
- 27. N nurturing
- 28. Doing Display Right An integrated display marketing program… 1 TOP FUNNEL MARKETING: Understand and reach your target audience 1 MID FUNNEL MARKETING: Retarget your custom audience segments 2 3 LOWER FUNNEL MARKETING: Track and optimize to key site actions with the right metrics …creates lift throughout the funnel.
- 29. Doing Display Right Establish a baseline and know who you’re trying to nurture… …who is already engaged and converting on your site.
- 31. Doing Display Right Don’t just target the audience… GOOD BETTER BEST Job Function: HR Seniority: Executive Industry: Finance Job Function: HR Job Function: HR Seniority: Executive Sample Ad Copy: “Improve your payroll processes with Solution X.” Sample Ad Copy: “Payroll inefficiencies impact the bottom line. Try Solution X.” Sample Ad Copy: “Bank of America has saved $5M with Solution X’s payroll system. You can be next.” …target the message!
- 32. Doing Display Right - Retargeting
- 33. Retargeting works…period Retargeting will be your single MOST effective online display campaign… Courtesy of eMarketer …and will drive lift across the board!
- 34. Retarget based on audience segment Target: SMB Target: Fortune 500
- 35. Retarget based on funnel stage
- 36. Retarget based on web page visits Deliver creative specific to products and services visited… Brand Creative Product 1 Creative Product 2 Creative …and use this information to determine funnel stage.
- 37. Test, Measure...and Optimize! Online display offers several optimization levers… Test creative alternatives… Test landing page variants… Test audience segments… …and more!
- 39. Bizo study: Top 25 campaigns based on CTR, only 6 fall into the top 25 for conversion rates
- 41. Track WHO is performing key site Actions2 3
- 42. Display drives actions…and results Source: March 2011 survey of In-house Marketers and advertising agencies. Findings based on 139 completed survey responses.
- 44. Hoover’s
- 49. Get our right conference messaging in front of tour audience early and often
- 51. Retargeting to stay top of mind as the show approaches
- 53. Duration: 4 months (June 1 – Oct 1, 2010)
- 54. 2nd year with Bizo
- 55. Creative: 60x600, 300x250, 728x90, National/Local versions
- 57. Marketing Professionals and Executives/C-Suite across the U.S.
- 61. Offer Testing
- 62. Mapping creative message to audience, to Geo
- 64. As the campaign progressed… Continue to educate but introduce lower funnel promo offers geared to drive registration
- 65. As summer ended, switched to Regional Targeting As conference approaches, beginning to funnel impressions to high probability regional centers with a message that will resonate
- 67. Leverage online display to ‘Always be Nurturing’
- 68. Target your audience to expand your reach
- 69. Retarget or your peers will laugh at you
- 71. Conquering the New B2B Marketing Funnel Bryan Burdick Corporate Development Officer
Hinweis der Redaktion
- How has it changed: - Still top, middle and lower - TOP: Too expensive for most marketers - Middle: Will show some stats that your customers are surfing MUCH more and reading e-mail less - And, many of you have already witnessed first hand the decrease in effectiveness of e-mail marketing - Lower: While many organizations do a good job nurturing the lower part of the funnel, in some respects, it’s just too little too late - Not saying that you should stop your lower funnel activities, just that in order to move the needle, you need to do a BETTER job of feeding the top of the funnel with the RIGHT kind of prospects/leadsThe answer, of course…is 42! - If you understood that obscure Sci-Fi reference…But, bringing it back down to earth for a moment… - We believe that online display can be a critical part of the answer because…
- Let’s start by brieflyexamining what most e-marketers are doing todayNOTE: Presentation and examples geared toward B2B, because that’s where Bizo’s experience lies, but relevant for consumer as well
- SEO/SEM: - You’ve analyzed your keywords - You know what you can afford to pay per click - Great start: And, by the way, if you’re NOT doing this, or you haven’t optimized here yet – get to it!E-Mail: - You’ve got a CRM system in place - You can identify the difference between a MQL and an SQL - You’ve developed on or more nurture campaignsWebSite: - You’ve invested in your Website - Your Web site is probably your ‘best’ source of qualified leads: - But, behind closed doors, and after a couple of beers at the marketing team dinner, you’ll admit that many of your Website Leads were probably driven by other mechanisms…you just can’t measure them as effectively as you’d like - Of course, you’re more than willing to point that out at budget time
- The ‘problem’ is not doing those things. I’m not saying you should STOPThe problem is if you ONLY do those things. - You are really only reaching and nurturing the portion of your target audience that is READY to engage - That’s why it’s so tempting to focus all your efforts there - But meanwhile, the rest of your target audience doesn’t even know that you existAnd, let me jump the gun a bit and mention that multiple studies have shown the effectiveness of display advertising in reaching - Stat here from a comScore study
- The actually cost of sending the e-mail is cheap, but…Building, cleansing, maintaining, monitoring the database is expensiveAccording to Nielsen: Most of the time that your customers are online, they’re NOT on e-mail –
- Bizo’s philosophy – and the critical assumption behind the rest of this presentation
- In fact, let me posit the same thought as a question to you instead…
- I see lots of nodding heads – that’s a good thing - I can also hear a few of you thinking, “Okay, fair assumption, but I need more. How would we actually accomplish this?” - I’m so glad you asked…
- You’re not alone…
- Nearly 70% said that social media will be more important this year than last
- In another survey, 84% of marketers said that online display advertising would be MORE important this year than last yearAND, they felt that display advertising would be critical for multiple objectivesTop of funnel awareness was first, but alsDriving key conversion actionsGenerating leadsAnd driving site traffic
- At the end of the day, the ad dollars will – and SHOULD – follow the media - Wanted to show this chart just to point out
- So, let’s turn now to how to optimize your online display campaigns, and let’s start by thinking about online display in a different way.Instead of thinking about display as simply casting a wide net and hoping to haul in a few fish……think of it as a method to continuously and consistently target and nurture your prospects.Or, in the immortal works of ‘Blake’
- What I really mean by that is that a cohesive display advertising strategy can be used to effectively: - 1. Fill the funnel with the right kinds of prospects and, in effect, expand your reach, so that - 2. You can leverage the power of re-targeting to maintain SOV and brand recognition when your prospect is ready to buy, provided that you - 3. Identify and leverage the right metrics behind your campaigns.So, let’s dive a little deeper…
- It’s the old adage, you can’t know how to get there until you know where you are.Seems pretty obvious, but it’s amazing how many folks DON’T take this first stepIn fact, that’s preciously why we build Bizo Analyze – to provide a simple, turnkey solution for giving a bizographic breakdown.
- The DATA that will be most critical to you will vary depending up on how you define your audience. - If you’re a B2B marketer… - If you’re selling retail goods to consumers… - If you’re building a brand within a particular audience…Much of this data is available from various sources and with varying degrees of quality – make sure you test!You can also typically target your favorite audience segments through multiple channels; via ad networks, direct with publishers, via the exchanges, etc.- A word of caution here…context still matters!
- And, of course, let’s not forget…now that you are able to reach the right audience, you also want to be saying the right thing.When we first started Bizo three years ago, marketers would get all excited about being able to slice and dice their target audience in to 14 different sub-segments.How many online creative campaigns do you have? ONEOn the flip side, 37 different creative options it probably just as crazy - Not to mention that it will drive the Ad Ops team over the edge…speaking of crazySomewhere in the middle, you need to find the balance.
- So, now that you’ve effectively used audience targeted display advertising to drive the right kind of folks to your Web site, or you landing page, or whatever, you want to keep them coming back until they convert, right?That’s where re-targeting comes in. And, to be very blunt - The question you should be asking is NOT, “Hmmmm, should I be doing retargeting?” - The question you SHOULD be asking is, “Holy crap, how can I be doing more retargeting?!?!?!?” - And, hopefully you’re not asking, “OMG, what’s retargeting?”
- This is an easy prediction to make.If you only take away ONE thing from this presentation – other than Bizo rhymes with Wizo I mean – then take this away – You should be doing as much retargeting as you possibly can.And, you should think about how to best leverage your retargeting strategy. What I mean is that there are multiple ways to retarget your message…
- - It might make sense to follow up with different messaging/campaigns, depending up on which bizographic or demographic segment your prospect falls into…
- You can (and should) use retargeting to focus messages based on what ‘funnel stage’ the user is in. Just like you would have different stages in an e-mail nurture marketing campaign, you can do the same with online display. They key here, of course, is determining how you define/decide when a prospect has reached the next stage.
- And, in fact, you can use different pages and/or ‘actions’ on your site to help determine stage. In essence, you can set different retargeting pixels based on which pages the prospect has visited or which ‘actions’ they have taken.And, of course, your retargeting messages can be product/service specific as well. For example…if they download a white paper on your Enterprise software solution, you probably don’t want to be sending them messaging targeted at small business owners.
- And, of course, no DMA conference presentation would be complete without mentioning “Testing, Measuring and Optimization”.In fact, I don’t know if this is true, but I’ve heard a rumor that all DMA employees are required...So, online display offers a variety of opportunities for testing an optimization, but it is equally important to
- The key is to drive the actions that are going to lead the prospect through the funnel and ultimately to a sale. Those actions will be different for each of you, and what may be surprising is that the actions may be different for different audience segments.
- One final survey: Marketers were asked “If you have added or increased display advertising to your mix, what have been the biggest benefits?”Organic site trafficDesired actionsQualified leadsWere the top 3Increased Ad Clicks was 5th!
- So, we started with the presumption that targeted online display advertising could help drive key metrics throughout the marketing funnel. I’ve thrown a number of surveys in front of you, but let me share a couple of specific case study results.
- We ran a campaign for Salesforce.com earlier this year.It started by measuring their site audience and then optimizing the campaign over short periodThen, the campaign was run for 6 weeks at a time on two different occasions80% lift in branded search terms355% lift in pages viewed per visitor – these users were engaged! They had been NURTURED
- Hoover’s had already done some audience segmentation research to identify which audience segments were most receptive to their messages.They have been running consistently now with Bizo for more than 2 years and have seen a 3x improvement on CTR and a 275% ROI on their online display campaigns.
- And, let’s not forget the DMA – this is actually our third year working with the DMA
- Given two years of experience, we’ve worked with DMA to take their online display to the next level and incorporated a number of different elements into the campaign.