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Solving Today's B2B Multi-channel Marketing Challenges

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B2B marketers are operating in a more complex environment than ever before. What with multiple parties involved in the purchase decision, longer and longer sales cycles, and a seemingly infinite number of media channels to choose from, marketers must make daily decisions on how to best move their prospects along the path toward becoming customers. This presentation focuses on the thorniest problems facing multi-channel B2B marketers today, and offers a variety of best practices and helpful solutions to consider drive success.
You will learn:
• How your customer’s buying process provides a roadmap for your marketing strategy.
• The best prospecting media for inquiry generation, and the media to avoid.
• B2B buying roles, and how they impact your communications.
• How to manage the complexity of multi-touch, multi-channel communications without tearing your hair out.
• 3 ways to measure multi-touch campaigns that really work.

Veröffentlicht in: Marketing, Business, Technologie

Solving Today's B2B Multi-channel Marketing Challenges

  1. 1. 5 Tips for Solving Today’s B2B Multichannel Marketing Challenges Ruth P. Stevens ruth@ruthstevens.com @RuthPStevens 1
  2. 2. © Ruth P. Stevens 2014 The good news— 97% of B2B marketers plan to grow or hold budgets in 2014. 2
  3. 3. Investment increases are heavily in digital. © Ruth P. Stevens 2014
  4. 4. But we also have big problems On the customer side • Ever-lengthening sales cycles. • More individuals to be influenced. • Customers don’t want to see a sales person until the last minute. © Ruth P. Stevens 2014 On the marketer side • Silos. • Confusion about campaign tactics. • Expectations around marketing automation. • Data availability and accuracy. • Measurement problems. 4
  5. 5. Tip 1: Map the buying process • How does your market buy? • Break down the process into steps. • Analyze the elements by AKA the buyer “journey” – The “who,” and what they care about. – The “when.” – The “where.” • Your optimal contact strategy will emerge from this analysis. © Ruth P. Stevens 2014 5
  6. 6. Typical B2B buying process © Ruth P. Stevens 2014 Buying process stages Identify need Research solutions Develop short list Request proposals/quotes Review proposals/quotes Negotiate Select vendor Install and use Upgrade
  7. 7. © Ruth P. Stevens 2014 7 Sales objectives at each stage of the customer’s buying process Buying process Seller’s objective Identify need Arouse interest Research solutions Be known to the research team Develop short list Be selected for short list Request proposals/quotes Submit winning proposal Review proposals/quotes Create preference Negotiate Preserve margins Select vendor Win! Install and use Satisfaction and usage Upgrade Up-sell, cross sell
  8. 8. © Ruth P. Stevens 2014 8 Marketer’s optimal tools at each stage Seller’s objective Marketer’s tools Arouse interest Advertising, PR, content syndication Be known to the research team Advertising, PR, search engine, trade show, retargeting Be selected for short list Direct mail, email, telephone, website, trade show, social media, IP address identification Submit winning proposal Face-to-face sales, inside sales Create preference Face-to-face sales, inside sales, direct mail, webinar, road show, RSS Preserve margins Face-to-face sales, telesales Win! Face-to-face sales Satisfaction and usage Support, website, e-newsletter, user group, client conference, social media Up-sell, cross sell Telesales, direct mail, trade show, webinar, social media
  9. 9. Tip 2: Use proven campaign media Top B2B media for inquiry generation. 1. Your website (registrations; IP address ID). 2. SEM and SEO. 3. Telephone. 4. Direct mail. Top B2B media for current customer marketing. 1. Email. 2. Telephone. 3. Social media. © Ruth P. Stevens 2014 IP address ID providers VisitorTrack VisualVisitor Demandbase Visistat
  10. 10. Tip 3: Understand your target by buying role Specifiers How is this thing better than the © Ruth P. Stevens 2014 competition? Influencers Make my job easier. Users Easy to install and use. Decision makers Bottom line results. Gatekeepers Protect the executive from sales people. Purchasing agents Save money. Buying groups average 21 people, in large enterprise.
  11. 11. Message segmentation by buyer type Technical buyer © Ruth P. Stevens 2014 Line of business buyer
  12. 12. Lay out a contact strategy by buyer type © Ruth P. Stevens 2014 12 Day from inquiry Message Medium 1 Thank you for your inquiry Phone 7 Research report relevant to request at inquiry Email 30 Case study of success from company in inquirer’s industry Email 45 Seminar invitation Phone 60 Customer testimonial and personalized letter Mail 75 Link to article from trade journal Email 90 Personal note from sales engineer to schedule online demo Email 105 White paper and personal cover letter Mail 125 Invitation to breakfast seminar at trade show Email
  13. 13. Tip 4: Keep your customer data clean # Employees Sales Volume Add'l Exec CEO Name Physical Address Phone Number SIC Business Name Mail Address © Ruth P. Stevens 2014 36.3% 23.9% 21.5% 21.2% 20.7% 18.0% 16.0% 17.4% 15.8% Decay rates of key business data elements over a one year period (US data). 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% --From an internal study conducted by D&B.
  14. 14. 5 steps to B2B data hygiene 1. Standardize data and train key-entry personnel. 2. Train and motivate customer-facing personnel to update the data. 3. Use data-cleansing software, internally or externally. 4. Allow customers access to their record on your web site, so they can make changes. 5. Outbound phone or email to verify, especially to top customers. © Ruth P. Stevens 2014
  15. 15. Tip 5: Use creative ways to measure multi-channel, multi-touch campaigns • Data matchback. • Did You Buy study. • Exclusive offer. • Pre/post survey. • Market mix modeling. © Ruth P. Stevens 2014
  16. 16. Data matchback: Cheap and easy Method • Select accounts promoted or accounts responding to the campaign (preferable). • After a period akin to typical sales cycle, compare sales (of product promoted) in those accounts. © Ruth P. Stevens 2014 Caveats • Not suitable to situations where a channel partner owns the relationship. • Matchback captures all sales; therefore it overstates marketing’s impact.
  17. 17. End-user sampling: “Did You Buy?” …perfect for channel marketers • Conduct survey after a period the length of a typical sales cycle. • Questions to ask: – Did you buy? – Who did you buy from? – How much did you pay? – Were any marketing tactics influential? • Caveats: – Do not ask if they received the campaign message. – Do not over-survey any group of customers. © Ruth P. Stevens 2014
  18. 18. Alternative: Focus on activities controlled by marketing Activity-based metrics  Cost per thousand  Response rate  Cost per inquiry  Campaign turn-around time  Qualification rate  Cost per qualified lead © Ruth P. Stevens 2014 Results-based metrics  Conversion-to-sales rate  Sales revenue per lead  Campaign ROI  Campaign expense-to-revenue ratio
  19. 19. Bonus tip: Don’t think you can go entirely digital © Ruth P. Stevens 2014 Both online and offline sources are important to buyers. 19 Source: “Maximizing Your Touchpoints”: Enquiro.com/b2bResearch
  20. 20. © Ruth P. Stevens 2014 Thank You ruth@ruthstevens.com @RuthPStevens Visit MaximizingLeadGeneration.com for a free sample chapter.
  21. 21. © Ruth P. Stevens 2014 Issue 1: Complexity • Only 7% of purchases are made by one person alone. • Buying groups average 21 people, in large enterprise. 21