Five Essential Pivots Marketers Must Make in 2018

Five Essential Pivots Marketers Must Make in 2018

Lori Wizdo

VP, Principal Analyst

Forrester Research, Inc.

Adrienne Whitten

Director, Product & Segment

Marketing

Marketo

2© 2017 FORRESTER. REPRODUCTION PROHIBITED.

60% of B2B buyers prefer not to interact with a sales rep as the primary source of information.

Source: Forrester/Internet Retailer Q1 2017 Global B2B Buy-Side Online Survey

3© 2017 FORRESTER. REPRODUCTION PROHIBITED.Source: Forrester/Internet Retailer Q1 2017 Global B2B Buy-Side Online Survey

68% of B2B buyers prefer to research online on their own — up from 53% in 2015.


62% of B2B buyers say they can now develop selection criteria or finalize a vendor list — based solely on digital content.

Source: Forrester/Internet Retailer Q1 2015 US B2B Buyer Channel Preferences Online Survey (N = 229)


B2B marketers must engage the new business consumer

Source: The Birth Of The B2B Consumer Forrester report

https://www.forrester.com/report/The+Birth+Of+The+B2B+Consumer/-/E-RES134322


What’s at Stake?WE ARE IN THE MIDST OF A RENAISSANCE IN THE PRACTICE OF B2B MARKETING

B2B Marketers must quickly adapt their

strategy and tactics, as customer behavior

and technology are changing faster than

ever.

• Dramatic changes in B2B buyer behavior

• Disruption in our primary routes to market

• Expanded remit of B2B marketing

Think brands must have a

deep understanding of their

needs in order to engage

them successfully

(Marketo)

73%

Say that the brands could do

a better job aligning their

engagement activities with

their preferences

(Marketo)

66% 65%

Expect all of their interactions

with a brand to be personalized

(Marketo)

Growing Customer Expectations

of buyers believe

brands try to deliver

value

Source: State of Engagement

Most buyers don’t believe you are trying to understand them

of marketers say

their engagement

efforts are effective

33% 83%

The Engagement Economy

Value > Volume


The Customer-obsessed mandate

• B2B companies must rethink marketing strategies to deal with today’s digitally enabled business buyer.

• B2B companies must rethink the alignment, calibration and remit of marketing, sales, and service.

• Companies that do not become customer-obsessed will lose customers and market share.


Product-centric

Campaigns

Five Key Pivots To Make In 2018

Reaching

Customer-centric

Engagement

Personalized

Outcomes

Attracting


Key questions• What do our best

customers look like?

• Why do they buy from us?

• How do they become valuable?

• What do they care about?

• Why do they engage with us?

• How can we reach them?


B2B marketers will become the architects of customer engagement across the life cycle.


Completely Agree34%

Completely Agree28%

“Our execution places just as

much importance on

customer retention and

advocacy as on acquisition

and growth”

• Wanted more personalized messaging

for healthcare professionals about their

multimillion dollar medical equipment

• Leveraged Marketo to track customer

behaviors and prescribe differentiated

content or messaging by role (ex.

radiologist) or region (Ex. India versus

US)

• Results: Marketing touched a total of $2

billion in pipeline and yielded $600

million in new revenue

Customer-Centric

GE Healthcare

humanized B2B

marketing by

personalizing

content to

physicians globally


Product-centric


Value Props

Customer-centric

Outcomes


Source: The New Yorker


From Inside Out to Outside In

Capabilities SolutionsProblems

Solved

Buyers

Who

Have

The

Problem

CapabilitiesSolution

OfferingOutcomes

Key buyers

or

Segments

Traditional marketing builds out from the product

Customer-obsessed marketing builds in from the buyer

© 2017 Forrester Research, Inc. Reproduction Prohibited


Agree41%

Completely Agree19%

“Our GTM is built around

customer use cases or

outcomes, not products or

markets”


Key questions› WHAT ARE THEY TRYING TO ACHIEVE?

What we sell:

› Banking services

› Loans and credit

› Merchant services

› Insurance

› Payroll and business

services

What our buyer buys:

› Efficient operations

› Flexible cash flow

› Capital for expansion

› More payment options

› Risk mitigation

› Operational efficiency


Juniper walks visitors through problem scenarios

Source: Juniper Networks

Free

Trial

System

CRM

Extended Tech Stack

(webinars, social,

etc.)

TrendMicro targets

messaging for each product

& trial stage.

Product/stage data helps

them track & improve multi-

touch marketing ROI by

business unit, product and

audience.

Understanding the

customer improved

TrendMicro’s web trial

conversions by

1700%

Tableau


Product-centric


Value Props

Reaching

Customer-centric

Outcomes

Attracting


Your Buyers Will Most Likely Find You.

BetterCloud uses

interest in specific

topics to target content

Automatically adapts web

and newsletter

experiences

Encourages customers

to indicate preferred

contact cadence, and

keep it up to date

CONTENT CHANNEL CADENCE

Engage and bring them back


Product-centric

Campaigns

7 key steps in the pivot to customer obsession.

Value Props

Reaching

Customer-centric

Engagement

Outcomes

Attracting



Scales <to a point>

with volume

Campaigns are . . .

› About ‘filling the funnel.’

› Not designed around the

buyer journey.

› Contextually irrelevant.

Why Campaigns Are No Longer Enough



Source: The New Yorker

“You also had a very good feeling about the last one”


B2B Marketing’s New Remit

You need to be relevant at the

ZeroMoment ofTruth

Image source: Think With Google (https://www.thinkwithgoogle.com/)


To do that we must understand the buyer’s journey


It is about guiding buyers through a journey.

It is not aboutfilling the funnel.

What it means


DISCOVER

EXPLORE

BUY

USE

ASK

ENGAGE

Expansion and extension

Growth and retention

Initial purchase

There are many journeys across the customer life cycle.

@ ScaleEngage when owner gets a

new puppy

Created breed-specific

campaigns

Timed to send each week

with a new developmental

milestone

Great stories are:

PERSONAL

RELEVANT

TIMELY

Engage with stories

Across the customer journey


Product-centric

Campaigns

Targeted


Value Props

Reaching

Customer-centric

Engagement

Personalized

Outcomes

Attracting


Behavior

Data augmentation

Surveys

Progressive profiling

Content

Navigation

How do I know

how to

personalize?


Personalize the Journey

Visitors presented with personalized content convert 5X more than average and account for approximately 30% of goal completions(Source: Marketo)

InsightCreated a single-

source of truth

Discovered a need

for high-value

touch

ActionFound just the right

way to deploy SMS

A single source of truth isn’t just about

collecting data and finding insight. It

should also surface insight and power

action at scale.

Right channel, right message, right time


Making it work . . . .


Thank you!

Lori Wizdo

VP, Principal Analyst

Forrester Research, Inc.

Adrienne Whitten

Director, Product & Segment

Marketing

Marketo

Five Essential Pivots Marketers Must Make in 2018

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