In the modern B2B buying cycle, control has moved away from businesses and into the hands of their buyers. This challenge has inspired a wave of marketing innovation, but there are even bigger challenges ahead. Follow along as Mathew Sweezey reveals the next Five Mega challenges facing B2B marketers – and how to confront them.
Campfire Stories - Matching Content to Audience Context - Ryan Brock
Going Beyond the Empowered Buyer: The Next Five Mega Marketing Challenges
1. Metrics
M A R K E T E R S S H O U L D K N O W
T O S H O W T R U E O B J E C T I V E V A L U E
ROI – Clicks –
Email Open Rates
– Attribution -
Downloads
Social
SalesAlignment
Marketin
5Mega
TrendsShaping the future
of marketing
2. Metrics
M A R K E T E R S S H O U L D K N O W
T O S H O W T R U E O B J E C T I V E V A L U E
ROI – Clicks –
Email Open Rates
– Attribution -
Downloads
Social
SalesAlignment
MarketinThis presentation was created to help be a
guide to the biggest changes we are likely
to see in buyers in 2016, and the trends you
need to keep up. My goal is not to give you
all the answers in this presentation, but
rather help you see the major trends you
need to be aware of and inspire you to take
action. Feel free to reach out to me on
Twitter @msweezey to continue the
conversation.
Mathew Sweezey,
Principal of Marketing Insights Salesforce
This presentation is compliments of.
5. MediaMedia is the embryotic fluid supporting the
connections between businesses and
consumers. It dictates what type of
connections can exist, and what is possible.
When the media environment shifts if has
massive effects to the relationship between
buyers and sellers.
12. By 2020 there will be:7 times as many connected
devices as there are people
on the planet. Each devices
must be connected to deliver
the experience the
consumers want.
-CNN Report 2014
13. W e e n t e r e d a n e w e r a
o f m e d i a i n 2 0 0 7 .
C o n s u m e r s o v e r t o o k
b u s i n e s s e s a s t h e
l a r g e s t c r e a t o r s o f
M e d i a . .
14. All People
Are affected
Grandparents are the fastest
growing demographic on
Facebook.
-Facebook Statistics
55-years-and-older consumer
segment is actually the fastest
growing fac4on of mobile users,
increasing its combined mul4-
plaNorm and mobile-only share
of audience from 60 percent to
74 percent in the past year.
- Comcore Research 2015
Even the old ones
15. New Buyer
Behaviors
heu· ris· tic: Enabling a person
to discover or learn something for
themselves. Digital experiences are
heuristic.
A consumer can determine if
there is value in a web experience
with in 1/20 of a second. If it is
not valuable then they leave. On
average a person only stays on 1.7
pages of a website Nobody taught
consumers how to search, how to
use email, or use Facebook. They
learned on their own.
- Cliff Seal 2015
18. We Disqualify
before we
Qualify
The massive amount of data coming to us via email has trained
us to first delete what is not relevant so we can have an easier
time managing what we really need to be working on. This is a
Heuristic behavior, because nobody taught you how to do this.
You just learned on your own.
20. We batch
research
Based on how easy it is to find and consume content we now
naturally do it in large batches. Once again this is a learned
behavior and something which is a new buyer behavior. If we
can understand this we can now start to optimize for greater
content conversions when someone is on our site.
23. Industrial
Revolution
Taught us marketing was a by product of production, and
the businesses had complete control of information about
products, and the buying process. There were only 5
media channels.
25. BRANDING
Display the values of the brand through
the interactions we controlled. This
created the “Golden Era” of marketing
from 1959-1972.
26. 18% of US consumers
use ad blocking
software. It is also
estimated this number
will double in 2016.
There are 185 million
global users of ad
blocking technology.
Ad
Blocking
- Pagefair and Adobe, 2015
30. Forrester Research estimates
for every 100 leads a B2B
company generates, best in
class only convert 1.5 into
revenue. Average companies
only convert .7 into revenue.
31. Corporate
Mindset
We must be able to build bridges between all
departments to ensure a holist corporate
mindset. Mindset is the only proactive way to
protect your brand, and provide customers
with the best experience. In companies like
AT&T this role also is
being given a new name:
Customer Experience
Executive.
32. Lifecycle
Management
The lifecycle begins with the very first
touch, and never stops. However, with
in each lifecycle there are many sub
cycles. It is the CMO’s role to ensure
they all fit together seamlessly to
optimize the relationship. The sub cycles
may be managed by different tools,
people, or organizations, but should be
orchestrated by the CMO.
34. Leaders
Vs
Laggards
Companies who excel at
customer experience out
performance the S&P
index by 30%, and
customer experience
laggards by 65%. It must
be looked at as a product
you produce.
-Watermark Consulting
37. Nobody says
“I want content”They decide engage with content to
solve goals, they engage with it because
it aligns with their purpose
@msweezey
38. 71%
Have been
Disappointed by
content
25%
Will never re-engage
If disappointed once
The
content
we create
sucks
39. Path
To
Purpose
There is no longer a path to
purchase, but a Path to Purpose.
Buyers paths are constant strings of
moments intertwined together
equaling an experience, fulfilling a
buyers purpose. What are your
buyers purpose for engaging with
you?
- Google Think, Path to Purpose
40. Purpose is Contextual
The role of the new middle is to have contextual engagements
with people. These engagements are a combination of human
and automated interactions designed to build rapport,
overcome simple objections, and create a strong and lasting
relationship with the brand.
41. PEW research found:
CEO’s pick up their mobile
device 51% of the time
because they are BORED
@msweezey
42. Escape !People wanting to escape will lean on self discover and
social channels. They are looking to escape their work, life,
job, and take a short break. No barring on sales readiness.
However the escape must be an honest, escape. It can not
be contrived by a business, but must be found by the
person.
43.
44. Read this article for more on creating humor in your content: http://
www.clickz.com/clickz/column/2389218/create-better-content-via-humor
Kronos Case Study
Kronos, a workforce
management software
company, uses a weekly
comic to engage with their
audience. Their comics are
consistently shared on
LinkedIn two to 10x more
than their corporate blog
posts.
45. Discover!Discovery is one of the greatest gifts of the internet. We
have both passive and active discovery modes.
Active Discovery: Direct searches on the internet
Passive Discovery: When you scroll down in Facebook
46. Self
Discovery
Is the highest form of value
the internet provides. Mass
publication is the lowest
form of value it provides.
- David Weinberger
47. Active
Discovery
Discovery is extremely powerful
for marketers to understand
because it allows us to fulfill a
desired purpose of the consumer.
Consider how much we like to
discover. The top 7 websites in
the world are all places for
consumers to actively discovery
things.
-Alexa research 2015
Top 7 Site are:
1. Google
2. Facebook
3. Youtube
4. Baidu
5. Yahoo
6. Amazon
7. Wikipedia
48. Active
Discovery
Anytime you do a search you are engaging in “Active
Discovery” This is when you are looking, seeking, or
wanting to find a specific item. “Amazon.com strives to be
the e-commerce destination where consumers can find and discover
anything they want to buy online.” – Jeff Bezos
49. Passive
Discovery
Passive discovery is the secondary
action of search. It is the reason we
“Surf” in the first place. We are
passively seeking an experience, and
trust the things we find on our own.
Discovering something new is our
purpose.
50. Passive
Discovery
There is value in helping people discover
things. Amazon hires 473 “Data Scientists” to
study their conversions, and it’s effect on the
customer relationship. If they do something
look at why.
51. Self Discovery = Trusted Content
The modern consumers build
trust in a new way. They have
found the value of the instant
access of the internet and placed
a high value on self discovery.
They even block your ads! Learn
how to help aid in their
discovery and you will gain their
trust.
52. Presence!Is the content which consumers create about themselves to
validate the mediated self they are projecting. Simply
engaging with this is fulfilling their purpose, and is
helpful, and does not require you to create more content.
53. Mediated
Persons
On average a person has 7.4 social
channels, and will be very hard to
reach on those channels due to
increased competition from their
friends, digital ad budgets, and ad
blocking software. Mediated
relationships require “Frequent and
phatic gestures” to build and
maintain mediated relationships
and so our marketing must evolve
as well. Larry D. Rosen (editor), The Wiley Handbook of
Psychology, Technology and Society
54. Values of Presence
1) Self Validation (posting)
2) Societal Validation (being liked)
3) Belonging (groups)
4) Reciprocity (the golden rule)
Social Capital is the key to understanding the “Micro Action”. With out it you
will not be able to fulfill the persons purpose. By understanding these 4 simple
rules you will easily understand what someone purpose is, and how to build
stronger relationships.
57. Holistic Value
The switching economy is estimated at $1.7 Trillion dollars.
Making it the 10th largest economy in the world, and
making churn a major issue we must face.
Marketers need to show objective value on holistic
marketing efforts and their impact to the happiness of the
consumer. This is not best represented by “Share of Wallet”
because this puts the impatience on increasing customer
spend. CSTAT scores rather place the focus on customer
happiness.
• B2C: CSAT score
• B2B: NPS metric
60. Leaders
Vs
Laggards
Companies who excel at
customer experience out
performance the S&P
index by 30%, and
customer experience
laggards by 65%. It must
be looked at as a product
you produce.
-Watermark Consulting
61. Philips executives, knowing from this kind
of analysis what loyalty improvements are
worth, have set a goal to have 50 percent of
the company’s businesses in NPS leadership
positions by 2015.
62. Relationships are hard to substitute! Having everyone in
your company with the same mindset is the only
sustainable way for you to proactively protect your brand
from the infinite amount of content which will be
published about you in the future. This is why companies
like AT&T give CX a seat at the Executive Table.
A new Position: Experience Executive
63. Weighted pipeline allows you to show a metric which is
valued by the business, because it is in dollars expected
to come in. It can predict future outcomes, is
comparable, and highly accurate. It is a metric which
shows objective value!
Objective Value
Weighted Pipeline = Volume x Efficiency x Velocity
65. Volume is the total measure of people in a
specific stage of the marketing funnel.
Such as how many potential leads does
marketing currently have in a specific
stage.
Volume
To track volume: This is just the total size of the stage of
marketing. There are on average 2-3 stages in marketing's
control before the leads go to sales.
66. Velocity allows you to track the speed of a
prospect/buyer thought the stages of the
buyers journey. This allows for a holistic
measure of the impact on a buyer of all
marketing activities, and is a metric which
is valued by businesses executives because it
helps predict the future outcomes of
revenue.
Velocity
To track velocity: Track the entry date, and exit date of
people into a stage of your marketing funnel. The average
will tell you the velocity of that stage.
67. Efficiency Efficiency is the measure of how many prospects/
buyers make it from one stage to the next. This
allows you to measure and optimize the holistic
experience of a buyer in their journey. It is
valued by business leads because when combined
with velocity it accurately predicts future
revenues from marketing activities.
To track Efficiency: Measure the number of people who
come in divided into the number of people who make it out.
This is the ratio of in/out.
68. Now take your average size deal
and do the math:
(lets assume your average deal is 10k)
Stage Volume Velocity Efficiency Weighted Value
1 100 5 days 70% (100x.7)x10,000
2 90 9 days 77% (90x.77)x10,000
3 80 10 days 88% (80x.88)x10,000
Sales 70 Total $2,097,000
69. Weighted Pipeline shows:
Predictability: Every 24 Days you produce: 70 leads
Holistic View: All marketing activities even those of Good Will are account
for in the measurement. Now if our marketing can increase each stage by 1% we have a
28% lift on the total value of the pipeline.
Objective Value: It puts our marketing in terms of revenue dollars which
our business finds on objective value. The increase in any aspect of the pipeline is now
translated into revenue.
Business Metrics: These are numbers your board can understand and
valuations which help them make better decisions about how to run their business.
71. Of marketers say
it takes 2-5 weeks
to create a piece
of content.
42%
Of marketers say it
takes more than 7
weeks to create a
piece of content.
1/3
1 hbp://www.techvalidate.com/blog/2013-content-marke4ng-
research-4me-spent-crea4ng-content-2892
72.
73. The Agile ProofI can write up all the stats in the world, but this simple math example
will prove to you that the agile way is faster, better, and repeatable.
Even a child can understand the power of agile with this simple proof.
74. Step 1: Place your pin on the blue dot. Your goal will be to close
your eyes and then draw a straight line to the red dot. Stop when
you get there.
76. Step 2: Now try again, but feel free to stop when ever you want.
Leave your pen on the paper, and open your eyes. Recalibrate,
close your eyes then continue to draw your line. Take as many
stops as you want.
77. Your second line probably looks like this. You reached your goal,
faster, and with less effort. You can stair at the red dot all you
want, but agile is the only consistently way to get there.
78. Creativity is no longer a
singular genius, but an
iterative process““
- David Weinberger, Author and Fellow at Harvard University
79. Waterfall:
Agile projects succeed three
times more often than projects
following a waterfall processes
of execution. As well as
spending much less time and at
a significantly lower cost1.
3x
1 2011 CHAOS report from the Standish Group
The
Facts on
Agile
80. Increased Accuracy
High
N1 N2 N3 N4 N5 N6
Low
Translation:
Each agile iteration
will have a higher
degree of accuracy than
the previous iteration,
yet you are likely to
still have some failure
in your next attempt.
However the degree of
failure will also
decrease with each
attempt.
81. Lower Risk Exposure
High
N1 N2 N3 N4 N5 N6
Low
Translation:
Each agile iteration of
the content has a
dramatically less
likeliness for failure.
Which means you are
less likely to see
consumers having bad
experiences with your
content.
82. The Agile Process
There are an infinitely growing number of marketing channels which require
content. This brings about a new level of content we must produce. The only way
to create enough content with a high enough success demands a new foundation
on how we execute marketing campaigns. We must learn from other business
departments who have faced similar issues.
84. User Stories
MVPReview
Execute
M.V.P. Minimum Viable Product: What is smallest way you can
provide value to your core consumer. This is your
minimum viable product. Create this, then learn how to
improve it.
85. User Stories
MVPReview
Execute
Review
It is good to have comparable metrics, but asking
consumers directly is the best feedback you can have on
how to improve your experiences.
• Was the content you engaged with helpful?
• How can it be better?
• What was the best thing you’ve found?ASK
86. Agile Math
What the math represents:
FV = Future Value. This score you wish your content will reach in the future.
On a scale from 1-10 if you want your score to be perfect this number would be 10, assuming 10 is the
highest value.
CV = The current score your content is rated.
X = Your x factor, or your ability to iterate on your previous version.
i = The number of iterations it will take you to reach the goal
(FV-CV) - ((FV-CV)*X) = i
88. Multiple Copies
The days of having only one advertisement to use is
long gone. In the days of social and dynamic advertising
you can buy multiple variations of the advertisement
and split test them all in real time. The systems will
automatically then serve up the best preforming content
without you lifting a finger. So you can stop arguing on
copy and creative and let your consumers pick for you.
89. John,
I noticed an article on Content experience,
and thought you might like to give it a look.
John,
There is a video in our resource library on
Lead nurturing best practices, here’s a link to it.
It was recorded with Jay Baer.
John,
I’m not sure if you follow this guy on social. But
If you’re on Twitter you might want to
check out @jaybaer. We’ve just shot a webinar..
Put it all togetherIt doesn’t take 10 minutes to create this nurturing string. Test then make 3 more
90. A Telephone does it best
DO NOT use forms, Surveys, or questionnaires to understand the impact of the content
on the consumer experience. They make the customer experience worse, and you will
lose out on your ability to really dig into conversation. Be human, if not there is no way
your content or experiences can be.
91. Conclusion( & p r e d i c t i o n )
The future of marketing is vastly different because buyers are different, and the ways
we reach them are different. We must make strides to create scalable, sustainable, and
valuable marketing systems. The future belongs to those who understand what is
possible, why, and use modern media to build trusted relationships and valued
experiences. Advertising alone will not get us there!