Riding the Tidal Wave of Marketing Change: Why Marketers Need to Adapt to Succeed
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In a recent survey conducted by the Economist Intelligence Unit, almost 90% of European marketers agreed with the following statement, “We need to change the structure and design of our marketing organisation to meet the needs of our business over the next three to five years.” Join Marketo's Ray Coppinger and Emma Hewage, Marketing Lead at LinkedIn Marketing Solutions EMEA, in this on-demand webinar as they discuss the key drivers of this need for transformation and how marketing organisations can set themselves up for success in the face of these trends. You'll discover: -Why this is a period of unprecedented change in marketing -The key technological, societal and market trends driving the need for marketing transformation -The types of changes needed by marketers and marketing functions to succeed now and in the future
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Riding the Tidal Wave of Marketing Change: Why Marketers Need to Adapt to Succeed
- 1. Riding the Tidal Wave of Marketing Change Why Marketers Need to Adapt to Succeed Ray Coppinger Senior Online Marketing Manager, Marketo Emma Hewage Marketing Lead EMEA, LinkedIn Marketing Solutions October 14th 2015
- 2. Housekeeping Questions Please use the chat window to ask questions during the webinar. Slides & Recording Today’s Twitter #MKTGNation @marketo @LinkedInMktg Recording We’ll send you an email to view and share the recording later today. Social
- 3. “We need to change the structure and design of our marketing organisation to meet the needs of our business over the next 3-5 years.” 87% European Marketers 72% NOAM Marketers Agree
- 4. TIME POOR
- 10. Marketers do *not* create journeys…customers do
- 11. Key Trends Driving Marketing Transformation
- 13. “Just over half of marketers expect the Internet of Things - where ubiquitous, embedded devices with unique IP addresses constantly convey real-time data—to revolutionise marketing by 2020.”
- 14. 2013 2014 2015E 2016E 2017E 2018E 2019E 5B 10B 15B 20B 25B 30B 35B
- 15. 2013 2014 2015E 2016E 2017E 2018E 2019E 5B 10B 15B 20B 25B 30B 35B Internet of Things
- 18. ©2014 LinkedIn Corporation. All Rights Reserved.©2014 LinkedIn Corporation. All Rights Reserved.
- 22. Personalised Experience in a Multi-channel World
- 26. Setting Marketing Up For Success
- 27. #1 Embrace Agility as a Key Capability
- 31. Key Principles of Agility 1. Iterative & Experimental 2. Customer Centric 3. Data-Driven 4. Flexible & Nimble
- 32. Engagement Marketing at Heart of Strategy #2
- 33. ENGAGEMENT MARKETING Build personalised and lifelong relationships #1 – As Individuals #2 – Based On What They Do #3 – Continuously Over Time #4 – Directed Towards An Outcome #5 – Everywhere They Are
- 34. Engagement will be the new basis of competitive advantage.
- 35. #3 Content Is The Fuel That Stokes The Fire
- 37. MQL Turkey Slices (Non Gated) Lead Capture No Yes RevenueSales SDR Sales Qualified? BIG ROCK (Gated) Nurture No Yes
- 38. Repurpose Content Company Pages Sponsored Updates (Turn it up to eleven!) LinkedIn Groups SlideShare
- 39. The Blogging Food Groups A steady diet of quality content for your blog Monday Tuesday Wednesday Thursday Friday Saturday Raisin Bran Spinach Roast Raisin Bran Spinach Raisin Bran Chocolate Cake
- 40. The “Hugh MacLeod” Strategy—Write 5 relevant blogs then roll them all together Monday Tuesday Wednesday Raisin Bran Spinach Roast Raisin Bran Spinach
- 41. Always On Throughout The Funnel #4
- 42. EUEUEU Six Stages of Technology Buying* Spec/Fund Vendor Choice Implement Manage RenewIdentify Needs 42 4 4-6 months 4-6 months 4-6 months 4-6 months 4-6 months 4-6 months 12 months+ Typical time involved in all stages of buying across both hardware and software decision cycles Source: Andy Bartels, Forrester, “Understanding Shifting Technology Acquisition Patterns,” February 2014. EUROPEAN DATA- Bases: European recent technology buyers, total N=523 , and by stage: Needs 114 ; Specs/Funding 105; Vendor Choice 79; Implementation 75; Management 70; Renewal 80 The buying journey: There are no shortcuts. The Buying Cycle: It’s long, but well worth the trip
- 43. EUEU 2 to 4 distinct pieces of content at each stage of the purchase journey …with content consumption at every stage of the journey. 43 EUEUROPEAN DATA - Median Types of Content Used by Stage (Base: European decision process participants, N=552 overall, n=75-122 per stage): Needs 2; Specs/Funding 3; Vendor Choice 4; Implementation 3; Management 3; Renewal 2
- 44. EU IT and Engineering are the visible players in Europe… Engineering IT 44 Operations Business DevelopmentPurchasing Support Sales Finance Project Management Marketing External Consultant EU
- 45. Reach, Nurture & Acquire Improve lead quality Increase conversion Drive pipeline and revenue ACQUIRE REACH
- 48. 95%LEAVE WITHOUT CONVERTING 20%OPEN EMAIL
- 49. 1% Success Rate
- 51. “Effectiveness trumpsefficiency, especially in a time ofrapidchange. Metrics will become broaderand more comprehensive, focusing on top-line revenue and overall engagement more thanefficiency andbrandawareness.” #6
- 52. Metrics that dent credibility: 1. Vanity Metrics 2. Cost Metrics 3. Activity Metrics
- 53. Metrics that build credibility: Revenue Cycle Metrics
- 54. Metrics that build credibility: Program Performance Metrics
- 55. Questions?
- 56. Thank You
Editor's Notes
- Let take an example of buying a car. You see the purple steps as “buyer-driven” vs. the orange steps as “seller-driven.” 1992 Pugeot
- They stopped listening – they built filters – we don’t open every email – we don’t see the right side of web pages because we know it is full of ads. So marketers have realised that they need to personalise, engage and truly provide experiences that have a message, tone and purpose for the customer. One size does not fit all – we are headed to a place where businesses have to be able to build personalised 1:1 relationships with every prospect and customer.
- This is what we call engagement marketing It’s an important idea, idea that’s here An idea that each one of you, members of the Marketing Nation, are the pioneers You invented this with us In on the ground floor Let’s go kill mass advertising Let’s go kill random acts of marketing Very exciting journey we’re on <CLICK>To Phil live
- When Tim cook talks about a seamless kind of life, I know I’m living that life With things like Dropbox, things like chrome, I don’t even think about what I’m using They’re just continuous windows into my world Tim cook’s version might be a walled garden around apple products, but it means I can use an iPad as my phone If I use chrome and open a tab, it’s there when I get home If I open Office 365 and I’m in Excel cell B35, when I open Excel at home Or if I put my latest pair of shoes in my cart at home, it knows exactly what’s there from my phone Entire world comes with him, regardless of which device I use <PAUSE> Each and every day, this is changing our, and our customer’s, and our prospect’s expectations as technology users It is simply going to change what we have to do as marketers Now, let’s think about this world of random acts of marketing I expect context, what happens if I see an ad on Facebook out of the sky, or an email out of the sky, that’s different We tolerate today, but it’s going to become fingers on chalkboard <CLICK>To engagement marketing
- So let me finish my vision with my final GOOD news If you master this, If you master Engagement Marketing, you hold the keys to the kingdom Think about it… core job in marketing… attentively LISTENING to our customers Marketing has the eyes, the ears, the brains, to understand customers as strategic asset Hear voice of customers and act on it in ways never possible before Marketers steward of journey…very strategic…very powerful This is why the CMO will be most important C-Suite exec This is why we at Marketo talk about the future being a Marketing First world
- So let me finish my vision with my final GOOD news If you master this, If you master Engagement Marketing, you hold the keys to the kingdom Think about it… core job in marketing… attentively LISTENING to our customers Marketing has the eyes, the ears, the brains, to understand customers as strategic asset Hear voice of customers and act on it in ways never possible before Marketers steward of journey…very strategic…very powerful This is why the CMO will be most important C-Suite exec This is why we at Marketo talk about the future being a Marketing First world
- Enjoy Summit I hope you find inspiration, too Hope you’re inspired by our vision of engagement marketing Hope you’re excited by the opportunity to put it into action As Marketers, we really do have the keys to the kingdom Together, let’s make it a Marketing First world <END>
- Enjoy Summit I hope you find inspiration, too Hope you’re inspired by our vision of engagement marketing Hope you’re excited by the opportunity to put it into action As Marketers, we really do have the keys to the kingdom Together, let’s make it a Marketing First world <END>
- Enjoy Summit I hope you find inspiration, too Hope you’re inspired by our vision of engagement marketing Hope you’re excited by the opportunity to put it into action As Marketers, we really do have the keys to the kingdom Together, let’s make it a Marketing First world <END>
- Enjoy Summit I hope you find inspiration, too Hope you’re inspired by our vision of engagement marketing Hope you’re excited by the opportunity to put it into action As Marketers, we really do have the keys to the kingdom Together, let’s make it a Marketing First world <END>
- Enjoy Summit I hope you find inspiration, too Hope you’re inspired by our vision of engagement marketing Hope you’re excited by the opportunity to put it into action As Marketers, we really do have the keys to the kingdom Together, let’s make it a Marketing First world <END>
- Bases: European recent technology buyers, total N=523 , and by stage: Needs 114 ; Specs/Funding 105; Vendor Choice 79; Implementation 75; Management 70; Renewal 80 And the pre- and post- purchase Journey is Long, But It’s Well Worth the Trip: The business technology buying process typically takes place over the course of several months, and in some cases it may even take years to complete. Across all four subverticals, the median time required to complete the cycle is approximately 12 months. It’s clear that there are no shortcuts — at least none that will lead to successful outcomes. It’s important to note that the stages may overlap, meaning that there are some members of the buying committee lagging behind in one stage, while other members have moved on to the next stage. So your brand has to be present for the long-haul to stay top of mind and maintain relevance – to make it onto the shortlist because getting there increases the odds of renewal.
- Because they’re also consuming a lot of content in addition to reaching out to your brand 2 to 4 distinct pieces of content at EACH STAGE All the more reason to ensure sales & marketing alignment Median Types of Content Used by Stage (Base: European decision process participants, N=552 overall, n=75-122 per stage): Needs 2; Specs/Funding 3; Vendor Choice 4; Implementation 3; Management 3; Renewal 2
- European Data IT, Engineering and Operations are the visible players… But just beneath the surface are other key players..
- Slide 3. (Massive) Missed Opportunity. Let’s put a little back-of-the-envelope maths behind how far short of our potential we’re achieving today, and the value being lost due to these inefficiencies. We’re all investing in a range of programs and channels to reach the right audiences, and drive them to our channels to further educate and engage them - but 95 out of 100 leave our websites without converting (5% website conversion for the best of us; 2-3% on average)
- Slide 4. And, when the 5% do convert (filling out a web form) only 20% (on a great day) open the email we’re sending them, leaving 80% largely unengaged
- Slide 5. Sobering picture of our collective effectiveness today. We are engaging 1% of our intended audience. Whether you’re a b2b marketer or high consideration b2c, the long purchase decision process and proliferation of channels is making is hard to realize the potential impact we can have on the business
- Update with new cover from visual brand deck.
- Update with new cover from visual brand deck.