Customer Advocacy & Account-Based Strategies

Customer Advocacy and Account-Based StrategiesLaura Ramos, Vice President & Principal Analyst

February 22, 2017

Pop quiz…

Source: Wikicommons

Customer “testimonial” is powerful B2B marketing tool

Answers you’ll get from listening:

›What is “customer advocacy” and why does it matter in B2B?

›Why does customer advocacy enhance ABM strategy?

›How do I marry ABM and advocacy to create revenue-bearing, lifelong customer relationships?

50%Of B2B buyers use mobile

devices to research work purchases

Source: Q2 2014 Forrester/Internet Retailer B2B Buy-Side Survey

Today’s customers are digitally empowered

i 74%B2B buyers research work

purchases online

62% Prefer to go online thaninteract with a sales rep

when making work purchases43%

Of B2B buyers would switchsuppliers for a lower price

56%Of B2B buyers expect to make

the majority of their work purchases online by 2017

Customer advocate marketing is…

The use of marketing strategy, budget, and resources to encourage customers to act on behalf of your company with or without the expectation of mutual benefit.

Source: August 2015, “Advocate Marketing Creates B2B Customer Relationships That Last A Lifetime” report.

Advocacy taps into the empowered buyer experience

Why is advocacy more important in B2B marketing today?

Base: 26 B2B marketing professionals or technology providers (Qualitative research, open-ended responses, top 5 shown)

Exceptional experiences are now your

bestcompetitive advantage.

Customer advocacy drives deeper relationships

Give customers a hand up – not a hand out.

Challenge: making advocacy more strategic

Where does “account-based” fit in?

Pop Quiz #2

Hunt big dealsand prize fish

Break into newmarkets

Find lookalikesready to buy

Deepen customerrelationships

Answer is: “All of the above”

Source: Wikipedia

“Account-based” is everywhere, everything, and totally awesome.

64% are beginning, haven’t started, or have no plans for ABM programs

45% do not have marketing resources dedicated to ABM

Source: Forrester’s Q1 2017 International B2B Marketing Panel Survey, Base = 78 B2B marketing executives and professionals

Only 1 in 5 say it increases sales and marketing effectiveness.

Where to start? With you current customers

Source: Forrester’s Q1 2017 International B2B Marketing Panel Survey, Base = 70 B2B marketing executives and professionals (top 6 responses shown)

Only15%Have used ABM to increase references and other forms of advocacy

How are advocacy and account-based strategies mutually reinforcing?

Both drive the shift to customer-centric engagement

ENGAGE

USE BUY

EXPLORE

DISCOVER

Both help to keep – and grow – your customersWhat is most effective at increasing

retention, cross-sell, upsell, or expansion?

Base: 94 B2B senior marketers (top 6 responses shown)Source: Forrester’s Q2 2016 International B2B Marketing Online Survey

Both create lifetime relationships

“Now I know what business books he's reading and we chat about those. The program helps our influencers work with every account in this way.” – Holly Zoba, SVP of sales, Signature Worldwide

How do you enhance your account-based strategies with advocacy?

Four ways advocacy delivers account-based wins

1. Gathering internal intelligence.

2. Helping sales land prize fish.

3. Onboarding and sharing best practices.

4. Getting a friend involved.

Advocates help you navigate their accounts

Top challenge: Gathering account intelligence

Source: Forrester’s Q1 2017 International B2B Marketing Panel Survey, Base = 58 B2B marketing executives and professionals (top 6 responses shown)

What are your biggest challenges with ABM?

Deltek challenges customers to share insights

Source: Deltek

Step 1: Take survey.

Step 2: Invite a peer. (80%+ from same-firm)

Results: Increased survey responses, and leads developed via campaigns featuring report results.

Advocates help your salespeople land prize fish.

Alteryx testimonials deliver an account-specific touch

Source: Alteryx

Personal stories target “look-alike” buyers with solutions to specific business problems.

Spiceworks uses advocates to penetrate key accounts ›Custom landing page

details Cisco/Spiceworks relationship.

› Traditional campaigns and advocate “challenges”

› Invite to onsite event called “Unplugged”

Source: Spiceworks

Account-specific engagement will give marketing more ownership

over post-sale customer experience.

Initiate a new-customer communications program as part of your ABM strategy.

InsideView combines customer success management with advocates to expedite onboarding

Source: InsideView

Account profile

People interestsInteractions

Advocates get others involved with you

LexisNexis uses customer advisors to deepen relationships and build business

›Advocates present case studies.

› Invite peers from IT/business.

›Shorten sales cycles from 9 to 4 mo.

›Closed more deals than prior 2 qtrs.

Source: LexisNexis, Geehan Group

Recommendations

Advocate marketing will figure prominently in 1/3 of ABM programs launched in 2017.

Use advocate personalities to profile your raving fans.

Align advocate personalities with account-specific engagement plays and tactics

Successful programs focus on customers

What’s in it for them

What’s in it for us

Keep the focus here

Make advocacy, not wallet share, your key account-based goal

Source: Wikicommons

FORRESTER.COM

Laura Ramoslramos@forrester.com@lauraramos

#B2BMX

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