Driving Demand Generation Results via Digital Nurturing
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Transcript of Driving Demand Generation Results via Digital Nurturing
Driving Demand Generation Results Via Digital Nurturing
Prepared for Straumann 15 February 2011 © Leftbrain Marketing Inc. All Rights Reserved
We Are a Demand Gen Agency § Left Brain helps enterprise companies design and
execute successful, modern demand generation programs.
§ Left Brain combines: – Process: Leverage TLBM proprietary approach – Content: Centered around Buyer 2.0 – Technology: Powered by marketing automation
§ Left Brain delivers strategy, production, analytics and optimization.
© Leftbrain Marketing Inc. All Rights Reserved
Agenda
§ The art of digital nurturing § Buyer 2.0 and the buying process § Content marketing: The new ‘secret sauce’ § Digital nurturing basics § Straumann nurturing pilot program
Presentation goal: Understand the modern digital nurturing impetus in the era of Buyer 2.0 and the strategic role of content + email/Web nurturing in the new content-based buyer dialogue.
THE ART OF DIGITAL NURTURING
© Leftbrain Marketing Inc. All Rights Reserved 5
State of modern demand generation?
Failing B2B demand generation
Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"
People + processes + content ...
Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"
Nurturing = Key to demand generation
B2B demand-gen is a numbers game
§ Only 2-5% of raw inquiries coming into the top of the B2B marketing and sales ‘funnel’ convert to sales.
§ 25-30% of B2B marketing databases have bad or incomplete records.
Source: SiriusDecisions Summit 2010
Nurturing = It’s about efficiency
Nurturing = It’s about timing
sort-of-ready definitely not ready
Source: MarketingSherpa, "2010 E-mail Marketing: Benchmark Report"
Nurturing = It’s about the relationship
Dialogue = Key to nurturing
Dialogue = architecture of nurturing
LISTEN TO PROSPECT
OFFER CONTENT
GET FEEDBACK
PLAN + TUNE NEXT
OFFER
Dialogue = non-linear nurturing
Outbound Marketing Inbound Marketing
Initial Buyer Interest
Collect Buyer Insights +
Route
Follow-up / Content Offer
More Buyer Interest + Action
Initial Human Contact
Sales Follow-up
Marketing Nurturing
+ Marketing Automation
Sales Nurturing
+ CRM
Scoring + Segmentation +
Routing
Add. Explicit + Behavioral Data
Collection
Marketing Automation to
CRM Sync
Email Sent
Web Form Data Collection
Nurturing = Improved sales results
Lead quality is key to sales.
“[S]ales reps that focused on fewer, more winnable deals tend to do better. Flooding the rep with low quality/high quantity leads only increases their inefficiencies … .”
Source: SiriusDecisions, “The Perfect Pipeline: When Less Is More”
Digital nurturing improves sales.
Best-in-class:
§ Double the bid-win-ratio on nurtured leads
§ Nurtured leads delivered 47% higher average order values
Source: Aberdeen Group, "Lead Nurturing: The Secret to Successful Lead Generation"
BUYER 2.0 AND THE BUYING PROCESS TODAY
© Leftbrain Marketing Inc. All Rights Reserved 20
Information consumption patterns of B2B buyers are rapidly changing.
#1 - B2B buyers are increasingly turning to online sources, on their own, earlier in their process, to research purchases before ever calling a 'live' sales rep.
Turning to online sources ...
Source: Enquiro, “Integrated Persuasion: Online and Offline”
As they need things ... 72% of the time ‘"t for a speci"c need at a speci"c time’ is the number one reason for a B2B purchase today.
Source: Forrester Marketing Forum 2010 presentation
#2 - B2B buyers are increasingly leveraging social media -- such as Twitter, blogs, etc. – for peer communication in the information collection and validation phases of the buying process.
Peer in"uence is king ...
Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.
Leveraging the Groundswell ... “The groundswell is: A social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations.”
Source: Charlene Li and Josh Bernoff, Groundswell.
Leveraging social media ...
Source: B2B Marketing/Base One, "BUYERSPHERE, Survey of B2B Buyers' Use of Social Media"
#3 – B2B marketers are shifting their attention away from traditional, ad-driven demand generation channels as B2B buyers shift to new channels.
Education ^ ... Interruption v
education
interruption
Source: MarketingSherpa, “2009-2010 B2B Marketing: Benchmark Report.”
$715,652 $671,808 $633,760$808,222
$1,129,649 $953,748$912,532$693,603
$1,813,536
$4,167,452
$2,211,488$2,508,006$2,424,666
$3,192,982
$2,196,409
$3,853,764
$2,467,216
$3,577,222
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
2009 2008 2007 2006 2005 2004 2003 2002 2001
Uptick in content marketing ...
32%
27%
Source: Custom Publishing Council, “2009 Spending Study.” US data.
What hasn’t changed?
B2B buyer decision cycle Satisfaction
Acknowledgment
Decision
Criteria
Selection
Investigation
Reconsideration
Measurement Source: R. Jolles
What has changed?
Emerging buying cycle gap ... Satisfaction
5%
Acknowledgment 79%
Decision
Criteria
Selection
Investigation
Reconsideration
Measurement Source: R. Jolles
Emerging buying cycle gap ... Satisfaction
Acknowledgment
Decision
Criteria
Selection 2%
Investigation 2-3%
Reconsideration
Measurement Source: R. Jolles
Emerging buying cycle gap ... Satisfaction
Acknowledgment
Decision
Criteria
Selection 2%
Investigation 2-3%
Reconsideration
Measurement
problem
Source: R. Jolles
Emerging buying cycle gap ... Satisfaction
Acknowledgment
Decision
Criteria
Selection 2%
Investigation 2-3%
Reconsideration
Measurement
problem
problem
Source: R. Jolles
CONTENT MARKETING: THE NEW ‘SECRET SAUCE’
© Leftbrain Marketing Inc. All Rights Reserved 39
From tactical to strategic content
Content was ...
Relevant messaging?
“86% of the 'unique bene"ts' touted by vendors were not perceived as unique or having enough impact to create preference.”
Source: Tim Riesterer, "Three B2B Value-Proposition Rules That Create Preference, Not Just Parity"
One-to-one engagement?
“Buyers have higher expectations for intimacy. … We have built intimacy into the later stages of the buying process. … But at the front end, our traditional tactics are starting to come off with all the warmth and sincerity of an English royal.”
Source: Chris Koch, “Why you need to turn your customers into stalkers”
Content is now ... § Critical information § Conveyed on speci#c topics § Carries the buying process forward § Delivered via right channel / timing / voice
... aligned to speci#c phases of the buying cycle.
Aligning content by buying stage
Acknowledgment Social media Thought leadership (w/ E-mail nurturing) Traditional media
Decision E-mail nurturing
Field events Search
Criteria Analyst reports
Blog + Web reviews Search
Investigation Detailed product literature
Sales proposals
Measurement Analyst reports Search Product Web sites Source: R. Jolles
w/ A. Needles contributions
Designing content marketing
Source: Left Brain DGA
DIGITAL NURTURING BASICS
© Leftbrain Marketing Inc. All Rights Reserved 47
Nurturing approach
Nurturing process
Outbound Marketing Inbound Marketing
Initial Buyer Interest
Collect Buyer Insights +
Route
Follow-up / Content Offer
More Buyer Interest + Action
Initial Human Contact
Sales Follow-up
Marketing Nurturing
+ Marketing Automation
Sales Nurturing
+ CRM
Scoring + Segmentation +
Routing
Add. Explicit + Behavioral Data
Collection
Marketing Automation to
CRM Sync
Email Sent
Web Form Data Collection
Demand generation integration
© Leftbrain Marketing Inc. All Rights Reserved 50
Engagement
Nurturing
Acquisition
Content marketing programs
Technology infrastructure
Lead management processes
Lead management stages
© Leftbrain Marketing Inc. All Rights Reserved 51
QUALIFIED RESPONDENTS
SALES READY LEADS
PROSPECTS
RESPONDENTS
SALES OPPORTUNITIES
CLOSED-WON
NON-RESPs
NON-QRs
NON-SRLs
NON-SOs
The Left Brain Model for Demand Generation
Nurturing path = the dynamic campaign
§ Buyer triggered; pull not push § Match content to stage of process § Persona targeting § One-to-one relevance § Progressive pro#ling § Scoring/routing drive next touch point
Nurturing path = the dynamic campaign
Source: Left Brain DGA
Our nurturing levers
Our nurturing levers
1. Email 2. Progressive pro#ling + scoring 3. Web content 4. Inbound to outbound integration 5. Marketing automation infrastructure
#1 - Email
Email = Top B2B tactic • 89% of B2B marketers use email. • Email is the number-one
outbound B2B marketing tactic used today.
Source: Forrester Marketing Forum 2010 presentation
B2B Sales Resources Are Costly
30x
Email strengths and weaknesses § Great for
– Sustaining engagement ... nurturing thread – Delivering targeted offers to buyers you know
§ Not so good for – Front-end lead generation – Repeated mass offers to buyers you don’t know
#2 - Progressive pro#ling
Progressive pro#ling - collection 1. Basic Lead Form 2. Returning Leads –
Pre Populate 3. Returning Leads –
Pre-Populate – Gather More
4. Returning leads – Personalize – Pre-Populate – Progressively
Gather More
Progressive pro#ling - logic
1st contact
2nd/3rd contact
later contact + behavioral
Source: MarketingSherpa and KnowledgeStorm, “Connecting Through Content”
Lead scoring
Scoring Model +160 pts (210 total)
Category Type Response Pts Response Pts Response Pts Response Pts
Qualified Respondents? BCC3
Industry Demographic Target industry 20 Non-‐target industry 10 Size of company Demographic SMB range 1 40 SMB range 2 30 Enterprise 20 Viewed demo Behavioral Yes 15 Length of Jme viewed demo Behavioral Threshold 15 Below 10
BCC4 Key pain points Demographic Tight fit 40 Loose fit 30 No fit 0 Went to decision tool Behavioral Yes 15 Number of quesJons on decision tool Behavioral Threshold 15 Below 5
PC3 (wait 1 day) Opportunity to complete core BCC3/4 data Download analyst tool Behavioral Yes 30
PC4 (wait 7 days) Opportunity to complete core BCC3/4 data Click on other resources Behavioral Each 20
Note: Need score of 200 to be a 'Qualified Respondent.' If not, will get sent to promoFonal tracks and/or drip track unFl you meet the threshold.
Source: Left Brain DGA
#3 - Web content
B2B Buyers Hearing More eNoise
Inbound is more critical than ever “Currently, more than half of all new inquiries are generated through the Web; we believe that by 2015, this number will rise to nearly 75%. Inbound marketing [is not] new in theory, but ... marketers must plan for it ... .”
Source: SiriusDecisions, “Inbound Marketing, the Sirius Way”
Strong inbound Web content
§ Blog content § Downloads § Social updates, thread participation § Webinars § White papers § Video
#4 – Inbound to outbound integration
Nurturing integration
Google Blog Post
Other Download Nurture
Call ‘Qual’ Team
Inside Sales
Pick-up
Search to Inside
Twitter Webinar White Paper Nurture Field
Event
Field Sales
Pick-up
Twitter to Live
#5 – Marketing automation infrastructure
Marketing technology adoption § CRM adoption has grown from 53% in 2003 to
75% in 2010. (CSO Insights)
§ Marketing automation adoption is 7-10%, projected to rise to 30% by 2015. (SiriusDecisions)
Sources: SiriusDecisions Summit 2010; CRM Magazine, "CRM: Then and Now"
Capabilities of marketing automation
© Leftbrain Marketing Inc. All Rights Reserved 72
CRM Marketing Automation
Batch / Blast Email
Single Emails
Nurturing Campaigns
Demographic Scoring
Behavioral Scoring
Form Builder
Landing Page Builder
Dynamic List Segmentation
Dynamic Email Content
High Volume Emails
Web Visitor Tracking
ROI Reporting
System integration
CRM Platform
Link Source Tracking
Website + Blog CMS
Marketing Automation
Inbound Marketing
Optimization
Marketing Analytics
Social Media Activity Tracking
Ad/Site Tracking
Source: Left Brain DGA
Closing points
Closing points § Demand gen = nurturing = buyer dialogue § Engage with Buyer 2.0 substantively § Develop serious content § Scoring + lead management = key to quality § Need BOTH process + marketing automation § Goal = greater + more-efficient revenue