Practical Strategies for Targeting the Fortune 1000
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In this on-demand webinar, Jim Higgins discusses what's happening with tech adoption and purchasing in the Fortune 1000 - and how you can apply these insights to intelligently tackle the target accounts that matter to your business.
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Practical Strategies for Targeting the Fortune 1000
- 1. PRACTICAL STRATEGIES FOR TARGETING THE FORTUNE 1000 www.baoinc.com
- 2. JIM HIGGINS CEO of BAO
- 3. WHAT WE’LL COVER TODAY Tech adoption and purchasing in the Fortune 1000 Demographics-based targeting Intelligence-based targeting Real-world examples
- 4. BUDGETED IT INITIATIVES Among Fortune 1000 companies, these are the top budgeted strategic initiatives: CLOUD COMPUTING MOBILITY/ BYOD BUSINESS INTELLIGEN CE CONVERGED INFRASTRUCTURE BIG DATA DATA CENTER OVERHAUL 31% 24% 22% 19% 18% 17%
- 5. IT BUDGETS Understanding IT budget change on an account-by-account level can help direct go-to-market strategy. 18% of IT budgets will decrease. 62% of IT budgets will remain 20% of IT budgets will increase. unchanged for the coming year.
- 6. SHADOW IT Gartner predicts that shadow IT will account for 35% of total IT spending in 2016. Here’s how purchasing takes place in the Fortune 1000: IT makes purchasing decisions per line of business requirements. 73% Lines of business are free to purchase technology on their own. Cross-functional decision-making teams are formed where IT advises the line of business. 27% 5%
- 7. SHADOW IT & THE CLOUD About a one-quarter of Fortune 1000 organizations have cloud applications managed outside of IT, and those who do have many. surveyed have cloud applications managed outside of IT. 26% of organizations 74% do not. Of those that have cloud applications managed outside of IT: 28% have > 25. 15% have 10-20. 57% have < 10.
- 8. MARKETING 47% OPERATIONS 53% SALES 51% FINANCE 42% ENGINEERING 31% HR 20% CLOUD USE IN LINES OF BUSINESS Among the 26% of orgs with applications managed outside of IT, these are the lines of business utilizing the cloud most frequently:
- 9. THE CLOUD Of the Fortune 1000 companies surveyed, SaaS is the most common usage, while almost one-third are not currently using the cloud. SOFTWARE AS-A-SERVICE INFRASTRUCTURE AS-A-SERVICE CLOUD-BASED COMPUTING PLATFORM AS-A-SERVICE NOT USING THE CLOUD 54% 42% 37% 35% 27%
- 10. BIG DATA 62% of organizations indicated they are utilizing big data analytics in some areas of their business. 19% use big data to analyze 45% of Fortune 1000 organizations 36% use big data to analyze use big data to analyze 1-2 areas of their business. 3-6 areas of their business. 7-10 areas of their business. 1-2 3-6 AREAS AREAS 7-10 AREAS
- 11. MARKETING ANALYTICS 30% OPERATIONAL ANALYTICS 35% CUSTOMER ANALYTICS 33% INFORMATION SECURITY 28% FORECASTING 25% PRODUCT DEVELOPMENT 20% TECH EFFICIENCY 17% INTERNET OF THINGS 16% OTHER 7% BIG DATA Across the Fortune 1000, the the most common of uses for big data include:
- 12. FLASH STORAGE ADOPTION Across the Fortune 1000, two-thirds of organizations have adopted some level of Flash storage. 33% have no Flash. 33% have adopted <10% Flash. 34% Have adopted >10% Flash.
- 13. MISSION-CRITICAL DATA Roughly 50% of Fortune 1000 organizations consider at least half of the data in their storage environments to be “mission critical.” 44% of the Fortune 1000 consider >46% of their data as mission critical. <15% 16-45% >46% 10% of the Fortune 1000 consider <15% of their data as mission critical. 46% of the Fortune 1000 consider 16-45% of their data as mission critical.
- 14. REAL-WORLD BUYERS IN THE FORTUNE 1000 Demographics-based targeting Big companies = big opportunity? Target market is a moving target
- 15. REAL-WORLD EXAMPLE BIG CUSTOMER WIN How do we find more that look like this?
- 16. DEMOGRAPHIC TARGETING Industry Revenue Headquarters Apparel $7.41 billion NYC Apparel $8.02 billion NYC Phillips-Van Heusen
- 17. INTELLIGENCE-BASED TARGETING Storage Shadow IT Big Data Cloud Initiatives Increasing somewhat Yes Not a priority Use for: • App dev or testing • Prod app hosting Planned migrations: None Staying the same No E-commerce SAP reporting Use for: Backup/DR Planned migrations: Prod app hosting DATA CENTER OVERHAUL icon BUSINESS INTELLIGENCE icon CONVERGED INFRASTRUCTURE CLOUD COMPUTING
- 18. INTELLIGENCE-BASED TARGETING Storage Shadow IT Big Data Cloud Initiatives Increasing somewhat Yes Not a priority Use for: • App dev or testing • Prod app hosting Planned migrations: None Increasing rapidly Yes Not a priority Use for: • Prod app hosting • Primary storage • Email Planned migrations: None Increasing rapidly No Customer analytics Product development Business/Ops. analytics Marketing analytics E-commerce forecasting Use for: • App dev or testing • Prod application hosting • Primary storage • Backup/DR • Email Planned migrations: Unsure/ not determined Staying the same No E-commerce SAP reporting Use for: Backup/DR Planned migrations: Prod app hosting DATA CENTER OVERHAUL icon BUSINESS INTELLIGENCE icon CONVERGED INFRASTRUCTURE DATA CENTER OVERHAUL MOBILITY/ BYOD CLOUD COMPUTING icon BUSINESS INTELLIGENCE CLOUD COMPUTING
- 19. INTELLIGENCE-BASED TARGETING Storage Shadow IT Big Data Cloud Initiatives Increasing somewhat Yes Not a priority Use for: • App dev or testing • Prod app hosting Planned migrations: None Increasing rapidly Yes Not a priority Use for: • Prod app hosting • Primary storage • Email Planned migrations: None Increasing rapidly No Customer analytics Product development Business/Ops. analytics Marketing analytics E-commerce forecasting Use for: • App dev or testing • Prod application hosting • Primary storage • Backup/DR • Email Planned migrations: Unsure/ not determined Staying the same No E-commerce SAP reporting Use for: Backup/DR Planned migrations: Prod app hosting DATA CENTER OVERHAUL icon BUSINESS INTELLIGENCE icon CONVERGED INFRASTRUCTURE DATA CENTER OVERHAUL MOBILITY/ BYOD CLOUD COMPUTING icon BUSINESS INTELLIGENCE CLOUD COMPUTING
- 20. INTELLIGENCE-BASED TARGETING Storage Shadow IT Big Data Cloud Initiatives Increasing somewhat Yes Not a priority Use for: • App dev or testing • Prod app hosting Planned migrations: None Increasing rapidly Yes Not a priority Use for: • Prod app hosting • Primary storage • Email Planned migrations: None Increasing rapidly No Customer analytics Product development Business/Ops. analytics Marketing analytics E-commerce forecasting Use for: • App dev or testing • Prod application hosting • Primary storage • Backup/DR • Email Planned migrations: Unsure/ not determined Staying the same No E-commerce SAP reporting Use for: Backup/DR Planned migrations: Prod app hosting DATA CENTER OVERHAUL icon BUSINESS INTELLIGENCE icon CONVERGED INFRASTRUCTURE DATA CENTER OVERHAUL MOBILITY/ BYOD CLOUD COMPUTING icon BUSINESS INTELLIGENCE CLOUD COMPUTING
- 21. INTELLIGENCE-BASED TARGETING Storage Shadow IT Big Data Cloud Initiatives Increasing somewhat Yes Not a priority Use for: • App dev or testing • Prod app hosting Planned migrations: None Increasing rapidly Yes Not a priority Use for: • Prod app hosting • Primary storage • Email Planned migrations: None Increasing rapidly No Customer analytics Product development Business/Ops. analytics Marketing analytics E-commerce forecasting Use for: • App dev or testing • Prod application hosting • Primary storage • Backup/DR • Email Planned migrations: Unsure/ not determined Staying the same No E-commerce SAP reporting Use for: Backup/DR Planned migrations: Prod app hosting DATA CENTER OVERHAUL icon BUSINESS INTELLIGENCE icon CONVERGED INFRASTRUCTURE DATA CENTER OVERHAUL MOBILITY/ BYOD CLOUD COMPUTING icon BUSINESS INTELLIGENCE CLOUD COMPUTING
- 26. WHERE ARE YOUR TARGETS? BIG DATA BUISINESS INTELLIGENCE MOBILITY/ BYOD CLOUD CONVERGED INFRASTUCTURE DATA CENTER OVERHAUL
- 28. Collaboration software "Everyone" a target Dissatisfaction with SharePoint Aptitude to change status quo Effectively create pipeline BACKGROUND CASE STUDY Competitive Displacement RESULTS Created $11M in pipeline "Abandoned opportunities" decreased dramatically Addressable Market: 1,000 organizations Solution: Collaboration software TARGET MARKET: 157 accounts with initiatives 210 accounts for competitive displacement Profiled 750 ENT accounts in 5 weeks Segmented large audience by proclivity to buy 21% Active Initiative; 28% Dissastisfied Focused internal inside sales team on most 367 qualified accounts Larger Quanity, Better Quality EXECUTION
- 29. Anti-Virus software- ENT team Mature market/limited greenfield Higher lead conversion rate when armed with "why" High win rate at "right time" BACKGROUND CASE STUDY Contract Expiration RESULTS Streamlined go-to-market strategy Lead conversion increased by 22% Addressable Market: 3,000 organizations Solution: Anti-Virus Software TARGET MARKET: 120 accounts with initiatives 320 expiring in <12 months Created extended timeline of expiring contracts for 1000 companies Developed rotating quarterly ABM programs based on those expirations Marketing tactics included customized landing pages and web content, appointment setting, field events, high $$ giveaways for demo completion and direct mail EXECUTION
- 30. OPPORTUNITY IDENTIFICATION (OppIDTM) OppID lets you ZERO IN on the right targets at the right time. It’s 100% CUSTOMIZABLE, so it delivers data that’s meaningful to your sales and marketing efforts.
- 33. GET THE TREND REPORT EXCLUSIVE OFFER (available only to today’s attendees) NEW TO OPPID? Purchase an OppID project by July 1st and get 100 profiles for $15K That’s a savings of $5,000! CALL US AT (978) 763-7500 TO GET STARTED Available at www.baoinc.com/F1000
- 34. Q&A
Hinweis der Redaktion
- BAO recently conducted a research study of 208 Fortune 1000 enterprises to understand current budgeted initiatives, new technology adoption and purchasing trends. Demographics based targeting and it’s pitfalls Intelligence-based strategies for targeting right accounts at the right time Real world examples of how actual BAO Clients are using intelligence based targeting to go to market more effectively.
- Budgeted strategic initiates in the Fortune 1000 Cloud checks in as the hottest budgeted initiative followed by Mobility/BYOD and business intelligence.
- 20% of organizations - increasing IT budgets 18% - budgets decreasing. How much more targeted would your sales and marketing efforts be if you simply segmented your prospects into “those with increasing IT budgets and those with decreasing IT budgets “
- The presence of Shadow IT could be a very meaningful data point. Gartner predicts that shadow IT will account for 35% of total IT spending in 2016. If we combine the lower two segments we see 32% of the Fortune 1000 engaging in some form of shadow purchasing which lines up closely with the Gartner prediction. BAO’s business mirrors this shift. Over the last few years we’ve seen a marked increase in clients targeting Line of business roles. 3 years ago we’d see maybe 10% of organizations using cross functional decisions making teams and 1% of organizations with LoBs free to purchase tech on their own. Now that combines number is up to 32%. ** note some orgs told us more than one of the three answers - hence the answers adding to a total greater than 100%.
- 26% of Fortune 1000 organizations have cloud applications managed outside of IT Those that have chosen that strategy have invested heavily in it. BAO can pinpoint which organizations are actively engaging in shadow IT
- Which lines of business are the Shadow IT “power users?” Operations, sales, marketing and finance. At an account level, this LOB insight can help dictate your account penetration plan
- Software as a service is the most common usage of the cloud in the enterprise. 27% of organizations who are not using the cloud. Cloud adoption is an important identifier for many technologies; this data point alone could create major efficiencies
- Almost two-thirds of Fortune 1000 companies are using big data within their organizations. 45% are using big data to analyze 1-2 areas of their business. Again, a trigger technology for many solutions, and rate of adoption can help you prioritize accounts.
- The top uses of big data across the enterprise. operational analytics (35%), customer analytics (33%), and marketing analytics (30%)
- If we were working with your organization on a specific technology we’d go a level deeper around that solution. Flash storage adoption is an example. 1/3 of the market has not adopted flash storage technology. Another third of the market has adopted flash but not heavily, less than 10% in fact, of that organizations overall storage environment.
- 10% of organizations consider <15% of their storage data as mission critical. 46% of organizations consider 16-45% of their storage data as mission critical. 44% of organizations consider >46% of their storage data as mission critical.
- Demographic data is publically available and easy to understand – is typically how accounts are identified and prioritized The Fortune 1000 is a very popular target market for obvious reasons Even the Fortune 1000 is not immune to the pitfalls of demographics based targeting. Your Total Addressable Market may be relatively static, but your actual target market should be constantly changing
- Demographic data to find lookalikes mimicking a big customer win Finding lookalikes isn’t as easy as a look-up in Hoovers
- From the outside Polo Ralph Lauren looks demographically similar to Philips Van Heusen.
- From an account-level perspective: A little color here, PVH currently appears on 49 client lists that we’re calling on. Polo currently appears on 22 of our client lists.
- PVH doesn’t look like Polo Ralph Lauren at all. Baxter Healthcare & Nike. It’s now are they a good target or not. It’s are they a good target RIGHT NOW!
- If you sell BI - Polo and Nike.
- Data center overhaul – a common key trigger event for many tech solutions If you’re creating ABM campaigns, focus on Baxter and Polo And, from the sales side, if you’re an RVP New York could be doubling down your resources on Polo, and spending minimum time on PVH.
- Selling cloud solutions –you should be focusing on PVH and Nike.
- It’s not a question of, are a certain organization a good target or not. Are they a good target RIGHT NOW! Here’s a proportional sampling of logos from organizations in the fortune 1000 w/ budgeted IT projects
- If you sell cloud solutions, this is your target market.
- If you sell business intelligence software, this is your target market.
- If you sell BYOD software, this is your target market.
- Big data, data center overhaul and converged infrastructure.
- ABM = lots of talk Client examples - what you can actually do with this type of strategy when you get back to your desk.
- 21% had active initiative to purchase a new collaboration solution 28% rated current collaboration vendor as a C or below That market became a very important 367 companies Identified other trigger events, including length of tenure of CIO
- 12% of market had active initiatives for a new anti-virus software 32% market were in last 12 months of current contract Key was to decrease wasted resources on accounts that weren’t likely to buy
- Focus based on data that’s meaningful to your sales and marketing efforts 100% CUSTOMIZABLE, to your organizations needs. This process is fast We can do this into any market you want. BAO clients are using it to isolate data that’s meaningful to their sales and marketing efforts at an account level like, IT environment characteristics Competitive displacement opportunities Specific trigger events like finding a competitors’ expiring contracts Prioritize greenfield accounts
- In addition to the raw data and contact info, we provide summaries to share with your organization internally An infographic like snapshot of the project highlights.
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- For more info, download the Fortune 1000 trend report that we recently published A special offer for all attendees of today’s webinar Purchase an OppID project by July 1st and get 100 profiles for $15K A savings of $5000.