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Top Digital Priorities for B-to-B CMOs Jay Gaines
@izjay
@SiriusDecisions
#B2BMX © 2018 SiriusDecisions. All Rights Reserved
Executive Summary • Key issues • B2B Chief Marketing Officers (CMOs) are operating in a fog of seemingly endless digital options and strategies • CMOs are in a position to drive efficiency and success for themselves, their customers and their businesses, but they must focus and make good decisions • Good decisions can only be made based on deep audience knowledge and unique business context
• What you will walk away with • How to translate business needs and audience insights into business requirements for smart technology buying and digital strategies • Which digital marketing strategies, skills and technologies are being prioritized by leading CMOs and why • A future view of digital marketing and what it means for marketing leaders @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Defining Digital
© 2018 SiriusDecisions. All Rights Reserved
The Importance of Digital
# of Interactions
• Self-guided interactions represent a significant portion of buying interactions • Digital enables the majority of selfguided interactions Purchase Price (in thousands) Source: SiriusDecisions 2017 Buying Study (1,005 verified b-to-b executive responders in North America and EMEA)
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
The Role of Digital Interactions in the Buying Cycle Independent
Consensus
Committee
Education
Education
Education
Solution
Solution
Solution
Selection
Selection
Selection
0
20
40 Self Guided
60
80
Human
100
0
20
40 Self Guided
60
80 Human
100
0
20
40 Self Guided
60
Human
Source: SiriusDecisions 2018 Buying Study (1,005 verified b-to-b executive responders in North America, EMEA and Asia) @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
80
100
Human vs. Non-Human Interactions by Phase: CXO Buyers
6
6 5
3
3
3
3
3
Education
Solution
Selection
2
Human Interactions – Peer-to-peer, expert, customer or vendor interactions Non-human interactions – On or offline interaction or consumption of content, tools and information
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Understanding the Pervasiveness of Digital Direct Mail Environmental
Telemarketing Search Email
Syndication Sponsorships
Digital Marketing Tactic
Web Sites Online Ads
Events Social
Digitally Supported Marketing Tactic
Online Events Print
Broadcast Print
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
The Evolution of Digital Maturity PROGRAMMATIC
TACTICAL
Programs
STRATEGIC
Programs
Programs
Programs
Digital
Nondigital • • •
•
@siriusdecisions
Tactics
Digital planned in isolation at a tactic level Digital and non-digital planned separately Little to no coordination between functions with digital roles and responsibilities Measurement at tactic level with little to no insight into business results
Campaigns • • • •
Digital planned at program level Limited planning with nondigital marketing Some coordination between functions in support of individual programs Measurement at program level with visibility into program results and limited visibility into business results 8
• •
•
Digital and non-digital planned together at a strategic level All functions’ efforts coordinated and targeted at a common set of business goals Measurement focused on understanding impact on overall business results
© 2018 SiriusDecisions. All Rights Reserved
Smart Digital Strategy and Tech Buying Using business and Audience Context
© 2018 SiriusDecisions. All Rights Reserved
Business Context: What Is Your Digital Type? Offering Custom
5 Differentiated 4
Determining the right approach begins with understanding the characteristics of what you’re selling, how it’s sold and how it’s bought
3 2 Standard
1 Commodity
Low ASP
High ASP 5
4
Purchase Complexity @siriusdecisions
3
2
Self Service 1
1
2
3
4
Sales Driven 5
Go-to-Market
10
© 2018 SiriusDecisions. All Rights Reserved
Business Context: Digital First
Digital First organizations rely
primarily on digital to provide the marketing reach, scale and costeffectiveness needed for success
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Business Context: Determining Digital Type SiriusPerspective: Companies scoring 3 to 6 are digital first; 7 to 11, digital hybrid; and 12 to 15, digital support.
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Business Context: Digital Supported
Digital Support organizations use digital to support sales by
generating and nurturing leads and accelerating opportunities
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© 2018 SiriusDecisions. All Rights Reserved
Business Context: Determining Digital Type SiriusPerspective: Companies scoring 3 to 6 are digital first; 7 to 11, digital hybrid; and 12 to 15, digital support.
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Business Context: Digital Hybrids High Purchase Complexity
Custom Offering
Design Driven
Hybrid models are designed around specific business needs @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Audience Context: Personas SiriusPerspective: Personas are at the heart of an audience-centric digital strategy, providing the context for
everything from technology to channel to mix decisions. .
An aggregation of individuals in similar job roles sharing common initiatives, challenges and watering holes, as well as the same content and tactic preferences.
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Audience Context: Personas SiriusPerspective: While it’s okay to make personas cute and quirky, it’s imperative to keep them focused,
relevant and usable.
@siriusdecisions
.
Job Role
Buying Process
Common Titles
Buyer Role Type
Initiatives
Content Preferences
Challenges
Tactic Preferences
Primary Buyer Need
Decision Drivers
Lexicon
Watering Holes
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© 2018 SiriusDecisions. All Rights Reserved
Audience Context: Journey Mapping For Digital First SiriusPerspective: In a digital-first journey, more than 65 percent of sales and marketing touchpoints will be
digital.
Buyer’s Journey Education Digital Touches
Solution
Saw syndicated content of interest
Filled in form for a trial
Customer Lifecycle
Selection
Deliver
Checked out references online
Develop
Retain Read emails about new feature
Human Touches (including tele)
@siriusdecisions
Engaged in an online chat
Took a call offering trial support
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© 2018 SiriusDecisions. All Rights Reserved
Grow Upgraded and renewed online
Audience Context: Journey Mapping For Digital Supported SiriusPerspective: In a digital-support journey, less than 35 percent of sales and marketing touchpoints will be
digital.
Buyer’s Journey Education Digital Touches
Human Touches (including tele)
@siriusdecisions
Solution
Customer Lifecycle
Selection
Deliver
Develop
Visited company Web site
Retain
Grow Read syndicated Content
Saw solution at trade show
Asked a colleague their opinion
Attended customer conference
Had onsite demo
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© 2018 SiriusDecisions. All Rights Reserved
Attended executive golf event
Audience Context: Journey Mapping For Digital Nonsense SiriusPerspective: Most buyers do not switch from a solely digital journey to a sales engagement in a binary fashion.
Buyer’s Journey Education Digital Touches
Solution
Customer Lifecycle
Selection
Deliver
Develop
Retain
57% of the buyer’s journey
Human Touches (including tele)
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Grow
Most Efficient Path to Revenue
Our challenge Optimize growth opportunities Siemens PLM Software
Large
Developer of 2D and 3D Product Lifecycle Management Software
Mid
Small
Legacy one-size-fits-all go-to-market approach
Academic
The MEPR approach
Codify the most efficient path to revenue C-Suite Program Manager Purchasing GM/Business Owner Product User & Admin Solution Manager External Consultants IT Manager
Digital Interactions
Human Interactions
Teleservices and Inside Sales
Direct and Partner Sales
Codify the most efficient path to revenue based on: • Offering • Personas by market segment • Engagement opportunity • Buyer journey or customer lifecycle Drive process adoption: • Globally accepted and scalable • Tool-based/easy to learn and use
Evolution to audience-centric go-to-market approach
Partner Led Sales Channel
MID SMALL
Buyers / Customers
Right Solutions
LARGE
Buyers / Customers
Direct Led Sales Channel
Buyers / Customers
Right solutions, right sales/marketing model, right interactions
Account Based Digital Support
Territory Based Digital Hybrid
Digital Led Sales Channel Volume Based Digital First
CMO Priorities Digital strategies, technologies and skills
© 2018 SiriusDecisions. All Rights Reserved
Priorities Influencing Marketing Strategy: 2018 Question 23
Which of the following priorities have the most influence on your marketing strategy over the next two years?
19.5
Increased focus on customer experience
18.8
Improve brand awareness, perception, or preference Measure marketing's contribution to key business objectives
16.4 13.2
Operational efficiency
12.6
Enhance partner/channel marketing capabilities
10.1
Address changing buying behaviors
8.9
Adapt to changing economic conditions Other
0.5
(relative weighting scores) @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Customer Experience: Challenges Question 23
What is your biggest challenge with increasing your focus on customer experience?
14.3%
Organizational readiness
12.6%
Technology constraints
11.8%
Resource limitations Insufficient data
10.1%
Lack of insights
10.1%
Lack of internal alignment on strategy
10.1%
Lack of a customer experience owner at the executive level
9.2%
Lack of internal alignment on priorities
9.2% 8.4%
Process inefficiencies
2.5%
No clear strategy
@siriusdecisions
Insufficient skills
0.8%
Other
0.8%
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© 2018 SiriusDecisions. All Rights Reserved
State of Personalization SiriusPerspective: Organizations are starting to view personalization as more than a buzzword, with
investments and importance increasing over the next 12 months.
Activities
Personalization Use
Future Spend
Full Program • Web Site • Online Advertising • Landing Page
Sales
49%
46%
71% Marketing plan on increasing their spend greatly or significantly
Pilot Program • Social Media Marketing • Email • Direct Mail Source: SiriusDecisions 2018 Personalization Study n=207 @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Execution Innovation Question
What marketing trends do you plan to implement over the next two years? 17.0%
Mobile applications with geo-targeting to optimize delivery
15.6%
Purpose-driven brand
11.6%
User-generated content
9.8%
Data-driven marketing
9.4%
Artificial Intelligence
7.1%
Predictive analytics
6.7%
Ad Tech: Data Management Platforms
6.3%
Personalization Post-sale customer engagement
5.8%
Interactive content/visual storytelling
5.8% 4.0%
Ad Tech: Demand Side Platforms
(relative weighting scores) @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Where CMOs Are Adding Headcount Question
In which sub-functions will you be looking to add headcount? 42% 42% 41% 40%
Marketing operations Custome r engagement (i.e. customer marketing, customer… Demand creation/demand cente r Marketing communications (i.e. advertising, brand, creative,…
31% 31% 30% 29% 26% 23% 23% 21% 21% 18%
Market insights/marke t intelligence Field/regional marketing Account-based marketing Marketing strategy (the series of decisions taken to develop and… Marketing enablement (e.g. skills training/professional… Corporate communications (i.e. corporate events, thought… Channel marketing Global campaigns Marketing planning (the process of translating the strategy into… Portfolio marketing
10%
Teleprospecting and telequalifiation
2%
Other (please specify)
@siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Top 5 Marketing Skill Enhancements Question
Over the next two years, what specific skill sets of the marketing staff do you plan to enable or enhance? 53%
50%
49%
47%
Campaign strategy
@siriusdecisions
Reporting, measurement, analytics
Custome r experience mapping
31
Go-to-market exe cution
47%
Lead management
© 2018 SiriusDecisions. All Rights Reserved
Marketing Enablement: Organizational Structure Question
You indicated that you have a role/function with some marketing enablement responsibilities. Where does the role reside? 35%
Market Insights/Marke t Intelligence/Marketing Analytics
19%
Marketing Operations
@siriusdecisions
Planning and Strategy
10%
Channel Marke ting
10%
Field Marketing
6%
Marketing Enablement
6%
Demand center
3%
Global Campaigns
3%
Inside Sales/Teleprospecting
3%
Strategic communications
3% 32
© 2018 SiriusDecisions. All Rights Reserved
Marketing Investment: Systems and Tools Question
What systems and/or tools will you be investing in over the next two years? Analytics Busine ss intelligence
Custome r intelligence management Web content management Sales training Social media management Marketing resource management Custome r success management PR management Configuration, pricing and quoting Social collaboration Sales asset management Product management
@siriusdecisions
13%
16%
18%
33
21%
25% 23% 23%
30% 30% 29% 28% 28%
33% 33% 33%
41% 40% 39% 38% 37% 36%
46%
49%
54% 52%
© 2018 SiriusDecisions. All Rights Reserved
57%
Digital Marketing A future view
© 2018 SiriusDecisions. All Rights Reserved
B-to-B Digital Marketing Innovation Opportunities
AI
Artificial Intelligence
Top priority to implement in the next 3-5 years
31%
@siriusdecisions Source: SiriusDecisions 2018 Global CMO Study
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Artificial Intelligence SiriusPerspective: Artificial intelligence (AI) makes it possible to know the b-to-b buyer like never before and to
answer critical questions about who the buyer is and what attracts and engages that buyer.
AI Top priority to implement in the next 3-5 years
31%
What’s Happening • AI-powered tools are helping to illuminate blind spots by enabling organizations to better understand their buyers and buying processes.
Why It Matters • Take in more information and see more connections • Process more information • Simplify decisions • Automate actions, decisions and processes
Source: SiriusDecisions 2018 Global CMO Study @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Informatica: Use AI to Know What to Say and to Whom
SiriusPerspective: Organizations that are already using AI to perfect their audience knowledge have a
competitive advantage over less advanced organizations.
Adrian Chang
Sr. Director, Digital Marketing & Buyer’s Journey @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Informatica: Use AI to Know What to Say and to Whom
SiriusPerspective: Organizations that are already using AI to perfect their audience knowledge have a
competitive advantage over less advanced organizations.
Which and Who Fit
AI (algorithms)
@siriusdecisions
Buyer Data
Intent Engagement
38
What
How
Campaign 1
Call
Campaign 2
Display
Campaign 3
Email
Campaign 4
Social
© 2018 SiriusDecisions. All Rights Reserved
Informatica: Use AI to Know What to Say and to Whom SiriusPerspective: Organizations that are already using AI to perfect their audience knowledge have a
competitive advantage over less advanced organizations.
Post-Click Conversions
Cost per Qualified Lead
+2.3X
AI (algorithms)
Buyer Data
Baseline
@siriusdecisions
–2.6X
Intent Only
AI + Intent 39
Baseline
Intent Only
© 2018 SiriusDecisions. All Rights Reserved
AI + Intent
B-to-B Demand Marketing Innovation Opportunities
SiriusPerspective:
Mix
Mix #1 priority to implement in the next 3-5 years
29%
Deliver informed and connected experience
@siriusdecisions Source: SiriusDecisions 2018 Global CMO Study
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© © 2018 2019 SiriusDecisions. SiriusDecisions. All Rights Reserved
Mix SiriusPerspective: Evaluate delivery mechanisms, personalization strategies and programmatic integration of
tactics based on demand program objectives, operational viability and audience context.
Mix #1 priority to implement in the next 3-5 years s
29%
Deliver informed and connected experience
Source: SiriusDecisions 2018 Global CMO Study @siriusdecisions
What’s Happening • The modern demand tactic mix is designed to attract, engage and qualify target buyers, optimize for conversion and provide unified experiences across devices and channels.
Why It Matters • Heightened buyer expectations for personalized, relevant interactions • Marketers need to support fluid, dynamic buyer’s journey with ability to change and adapt to buyer and buying group based on new insights and activity 41
© 2018 SiriusDecisions. All Rights Reserved
B-to-B Demand Marketing Innovation Opportunities
SiriusPerspective:
Buyer Enablement
Enablement Chatbot adoption and interest
68%
@siriusdecisions Source: Forrester’s H2 2017 Global Mobile Executive Online Survey
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Buyer Enablement SiriusPerspective: New techniques and technology capabilities enable marketers to integrate human and non-
human interactions to operationalize targeted, personalized omnichannel engagement at scale.
Enablement Chatbot adoption and interest
68%
What’s Happening • Buyers are adopting voice search, chat and digital assistants to facilitate communications, and marketers are integrating human and nonhuman interactions to support buyer interactions at scale.
Why It Matters • New delivery mechanisms in the mix • Enables and enhances self-directed buyer’s journey • Optimize search strategies, rethink gates
Source: Forrester’s H2 2017 Global Mobile Executive Online Survey @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
B-to-B Demand Marketing Innovation Opportunities
SiriusPerspective:
Media B-to-b adoption of digital media
+90%
@siriusdecisions Source: SiriusDecisions 2018 Global CMO Study
Media Optimization
44
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Media Optimization SiriusPerspective: For many b-to-b organizations, an untapped area of innovation in the tactic mix is in media,
whether paid, earned, or owned.
Media B-to-b adoption of digital media
+90%
What’s Happening • Opportunity areas include more precise targeting, real-time personalization, creative optimization, interactive content experiences, user-generated content and new digital advertising formats.
Why It Matters • Maximize reach and drive hyper-targeting at scale • Audience inputs inform interactive experiences, next best content and offer across the buying group
Source: SiriusDecisions 2018 Global CMO Study @siriusdecisions
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© 2018 SiriusDecisions. All Rights Reserved
Interaction Type Preferences Vary Across Personas SiriusPerspective: Marketers should align and prioritize content assets and activation plans by rationalizing
persona format and interaction type preferences throughout the buyer’s journey.
Sample Persona Map Snapshots
Education
Interaction
CIO
Buying Phase NonHuman
Search Internet
Explore Web Site
1
Human
Interaction
LOB Leader
Search Explore Internet Web Site 1
4
7
5
2
8
Sales Rep
Sales Rep
Selection Value Actualization Tool
Customer Reference (Vendor)
Product Manager
6
9
10
Customer Service Rep
13 11
Sales Rep
Email
Case Study
3
4
Explore YouTube 6
Sales Presentation
12 Customer
14
Reference Sales (Buyer) Rep
15
16
17
Sales Rep
Selection
Industry Conference
Free Trial
Free Trial
8
10
13
7
9
11
Sales Rep
Industry Conference
Sales Rep
12 Customer
Reference (Vendor)
Orchestrated Influenced 46
Industry Analyst
Executive
Solution
5
Human
@siriusdecisions
Live Vendor Webinar
Explore YouTube
Education
Buying Phase
Simulated Facilitated
Peer Networking Event
3 2
NonHuman
Solution
© 2018 SiriusDecisions. All Rights Reserved
Explore LinkedIn 15 14 Customer
Reference (Buyer)
SiriusPerspective:
@siriusdecisions
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