Customer Advocacy & Account-Based Strategies
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Transcript of Customer Advocacy & Account-Based Strategies
© 2017 FORRESTER. REPRODUCTION PROHIBITED.
Customer Advocacy and Account-Based StrategiesLaura Ramos, Vice President & Principal Analyst
February 22, 2017
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Pop quiz…
Source: Wikicommons
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Customer “testimonial” is powerful B2B marketing tool
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Answers you’ll get from listening:
›What is “customer advocacy” and why does it matter in B2B?
›Why does customer advocacy enhance ABM strategy?
›How do I marry ABM and advocacy to create revenue-bearing, lifelong customer relationships?
50%Of B2B buyers use mobile
devices to research work purchases
Source: Q2 2014 Forrester/Internet Retailer B2B Buy-Side Survey
Today’s customers are digitally empowered
i 74%B2B buyers research work
purchases online
62% Prefer to go online thaninteract with a sales rep
when making work purchases43%
Of B2B buyers would switchsuppliers for a lower price
56%Of B2B buyers expect to make
the majority of their work purchases online by 2017
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Customer advocate marketing is…
The use of marketing strategy, budget, and resources to encourage customers to act on behalf of your company with or without the expectation of mutual benefit.
Source: August 2015, “Advocate Marketing Creates B2B Customer Relationships That Last A Lifetime” report.
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Advocacy taps into the empowered buyer experience
Why is advocacy more important in B2B marketing today?
Base: 26 B2B marketing professionals or technology providers (Qualitative research, open-ended responses, top 5 shown)
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© 2016 Forrester Research, Inc. Reproduction Prohibited 9
© 2015 Jive Software, Inc. All rights reserved | Jive Confidential Page 10Source: Bloomberg and The Telegraph
Exceptional experiences are now your
bestcompetitive advantage.
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Customer advocacy drives deeper relationships
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Give customers a hand up – not a hand out.
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Challenge: making advocacy more strategic
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Where does “account-based” fit in?
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Pop Quiz #2
Hunt big dealsand prize fish
Break into newmarkets
Find lookalikesready to buy
Deepen customerrelationships
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Answer is: “All of the above”
Source: Wikipedia
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“Account-based” is everywhere, everything, and totally awesome.
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64% are beginning, haven’t started, or have no plans for ABM programs
45% do not have marketing resources dedicated to ABM
Source: Forrester’s Q1 2017 International B2B Marketing Panel Survey, Base = 78 B2B marketing executives and professionals
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Only 1 in 5 say it increases sales and marketing effectiveness.
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Where to start? With you current customers
Source: Forrester’s Q1 2017 International B2B Marketing Panel Survey, Base = 70 B2B marketing executives and professionals (top 6 responses shown)
Only15%Have used ABM to increase references and other forms of advocacy
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How are advocacy and account-based strategies mutually reinforcing?
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Both drive the shift to customer-centric engagement
ENGAGE
ASK
USE BUY
EXPLORE
DISCOVER
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Both help to keep – and grow – your customersWhat is most effective at increasing
retention, cross-sell, upsell, or expansion?
Base: 94 B2B senior marketers (top 6 responses shown)Source: Forrester’s Q2 2016 International B2B Marketing Online Survey
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Both create lifetime relationships
“Now I know what business books he's reading and we chat about those. The program helps our influencers work with every account in this way.” – Holly Zoba, SVP of sales, Signature Worldwide
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How do you enhance your account-based strategies with advocacy?
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Four ways advocacy delivers account-based wins
1. Gathering internal intelligence.
2. Helping sales land prize fish.
3. Onboarding and sharing best practices.
4. Getting a friend involved.
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Advocates help you navigate their accounts
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Top challenge: Gathering account intelligence
Source: Forrester’s Q1 2017 International B2B Marketing Panel Survey, Base = 58 B2B marketing executives and professionals (top 6 responses shown)
What are your biggest challenges with ABM?
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Deltek challenges customers to share insights
Source: Deltek
Step 1: Take survey.
Step 2: Invite a peer. (80%+ from same-firm)
Results: Increased survey responses, and leads developed via campaigns featuring report results.
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Advocates help your salespeople land prize fish.
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Alteryx testimonials deliver an account-specific touch
Source: Alteryx
Personal stories target “look-alike” buyers with solutions to specific business problems.
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Spiceworks uses advocates to penetrate key accounts ›Custom landing page
details Cisco/Spiceworks relationship.
› Traditional campaigns and advocate “challenges”
› Invite to onsite event called “Unplugged”
Source: Spiceworks
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Account-specific engagement will give marketing more ownership
over post-sale customer experience.
Initiate a new-customer communications program as part of your ABM strategy.
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InsideView combines customer success management with advocates to expedite onboarding
Source: InsideView
Account profile
People interestsInteractions
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Advocates get others involved with you
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LexisNexis uses customer advisors to deepen relationships and build business
›Advocates present case studies.
› Invite peers from IT/business.
›Shorten sales cycles from 9 to 4 mo.
›Closed more deals than prior 2 qtrs.
Source: LexisNexis, Geehan Group
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Recommendations
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Advocate marketing will figure prominently in 1/3 of ABM programs launched in 2017.
Use advocate personalities to profile your raving fans.
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Align advocate personalities with account-specific engagement plays and tactics
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Successful programs focus on customers
What’s in it for them
What’s in it for us
Keep the focus here
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Make advocacy, not wallet share, your key account-based goal
Source: Wikicommons
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Thank you© 2017 FORRESTER. REPRODUCTION PROHIBITED.
Laura [email protected]@lauraramos
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#B2BMX