Digital Marketing


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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

@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 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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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)

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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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© © 2018 2019 SiriusDecisions. SiriusDecisions. All Rights Reserved

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

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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

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© © 2018 2019 SiriusDecisions. SiriusDecisions. All Rights Reserved

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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