B2B Segmentation Strategies and Procedures · PDF fileMore data on this topic available from:: B2B Segmentation Strategies and Procedures Vicki Morris, VP Marketing NorthStar Systems

More data on this topicavailable from::

B2B Segmentation Strategiesand Procedures

Vicki Morris, VP Marketing

NorthStar Systems International, Inc.

Monday, February 25, 2008


2

About NorthStar (in 2006)

Emerging wealth

management

software provider

Some early adopter

clients

1 marketing

consultant

Limited awareness

www.northstar.com Early Adopter Clients


3

Strategy: Software Marketing

Segment by Title (Based on Early Client Success)

Use Hi-Tech eMarketing to keep costs down

Use Hi-Touch Tele-Networking to build relationships

Current

Sales

Contacts

New

Targets

Mktg

DB


4

Results: Software Campaign #1

Hi-Tech Strategy Component: eNewsletter893 Initial Contacts from Sales/Recipients34% Open Rate vs. 26-29% Average in Financial Services31% Click-through Rate12 New Subscriber Requests2 Forwards2 Opt-Outs, 0 SpamCost: $5k

Hi-Touch Strategy Component: Tele-NetworkingFollowed up on eNewsletter subscribersEstablished 129 New Contacts11 Leads Generated (with Meetings and Dossiers)Cost: $12k

Takeaway: Great way to jump start a vendor in a new,relationship-oriented market


5

Assessment & Planning for Campaign #2

New, Emerging MarketBuyer Has Pain Point(s)No Currently Budgeted InitiativesWe Get Meetings, But No Projects

Strategy?


6

Strategy: Solution Marketing

Segmentation based on Title & Pain Point

Current

Sales

Contacts

New

Targets

Mktg

DB


7© 2008 MarketingSherpa Inc. This presentation is not for distribution. Thank you.

Criteria

•Acute pain point

•Pain in key target segmentsthat are a match for us

•We can solve pain pointbetter than alternatives

•Have experience solving(with referenceable client)

•Short sales cycle (< 6 mos.)

•Budgeted project

Limited integration & quickdeployment

•Buyers/titles we can reach

Solution Selection Process

Solution Options

1. Compliance

2. Client acquisition

3. Product Catalog

4. Client Reporting

5. Product promotion

6. Performance reporting

7. Retirement planning

8. Practice management

9. Client Web

10. Better prospecting

11. Better analytics

12. Client on-boarding &account opening

13. Globalization

Selected Solutions Are in Blue


8© 2008 MarketingSherpa Inc. This presentation is not for distribution. Thank you.

Results: Solution Campaign #2

Hi-Tech Strategy Components: eMultiples with Consulting Partner2934 Contacts vs. 893 for prior campaign

eMultiples: eNewsletter, eCard, eVite/Webinar, ePR, eAd

34% Open Rate, 12 New Subscribers & Forwards

31 Opt-Outs, 0 Spam

27 Webinar Attendees

36 PR Portal Postings

eAd in 2 key publications (13k readers)

12 Leads

Cost: $8k + $17k from Partner

Hi-Touch Strategy Component: Tele-Networking & Analyst RelationsMarket Validation/Gatekeeper Identified: VP Wealth Mgmt

10 Leads Generated (with Meetings and Dossiers), 1 lead in contract

1 Analyst Report with Industry First Position

Cost: $10k

Takeaway: Doubled leads & awareness


9

Assessment & Planning for Campaign #3

Compliance Budgets Not What ThoughtDifferent Types of Compliance:

Front Office vs. Risk/Back OfficeFront Office Compliance as Pain Point, JustNot Urgent One for Most FirmsAll Wealth Management Firms Don’t Havethe Same Pain Points

Strategy?


10

Strategy: Segment Marketing

Segmentation based on Title, Pain Pointand Firm/Industry Segment Type

Current

Sales

Contacts

New

Targets

Mktg

DB


11

Segment Marketing

Target Segment/Firm Type

Value Proposition

Private Banks andBroker-Dealers

REVENUE: Increase AssetsUnder Mgmt (AUM) per Advisor

Asset Managers CHANNEL SALES: Drive AssetGrowth via Channel

Note: Prefers on-demand solution

Multi-Family Offices PROFITABILITY: GenerateProfitable Growth by GrowingShare of Wallet


12

Client Acquisition Banking eCard


13

Results: Client Acquisition Campaign #3

Hi-Tech Strategy Components: eMultiples to Target Segments

4470 Contacts vs. 2934 for prior campaign

eMultiples: eNewsletter, 3 eCards w/ case studies, white paper, datasheet

3 Target Segments with Different ROI/Value Propositions

34% Open Rate, 20 New Subscribers & Forwards

55 Opt-Outs, 0 Spam

45 PR Portal Postings, 90% SEO Visibility Ratings

60 Leads, 1 Lead in Contract

Cost: $15k

Hi-Touch Strategy Component: Tele-Networking & Analyst Relations

46 Leads Generated via In-House Sales Team (armed with target list andtargeted e-mails to follow up on eCards), 1 Lead in Contract

4 Analyst Briefings; Analyst Quote in Solution Press Release

3 Positive Articles in Key Publications

Cost: $13k

Takeaway: Best way to generate leads & awareness


14

B2B Segmentation Strategies Work

Software Marketing with Title Segmentation: Great awareness, limited leads

Solution Marketing with Title & Pain Point Segmentation:Double the leads

Segment Marketing with Title, Pain Point & IndustrySegmentation: Quadruple the leads

B2B Segmentation Strategies helps yougenerate results like firms that are 2-4x larger.


15

About NorthStar (2008)

Leading provider ofwealth managementsoftware

NorthStar used by 5 ofthe top 10 U.S. wealthmanagers (Barron’s)

Recognized by topanalysts

Won awards (RedHerring, Software 500)

Brand awareness with5200 prospects

3800 returning websitevisitors/month

Bi-Monthly eMarketingand PR efforts

Launched industrytrends survey

www.northstar.com

U.S.TRUST

Sample Clients


16

Appendix

Recommended Resources

Best Practices


17

Recommended Resources

Best Agency (PR, Creative & eMktg) Fast Lane ([email protected])

Best Product Marketing Consultant [email protected]

Best Case Study Consultant [email protected]

Best Powerpoint Consultant [email protected]

Best Flash Consultant [email protected]

Best HTML eNewsletter Producer [email protected]

Best Competitive Research Papers [email protected]

Best SEO Consultant [email protected]


18

Best Practice #1: Take Time to DoMarket Analysis

Required Analysis

1. Opportunity Where are the prospects located?How many are there? Where do Ifind them?

2. Competition Who am I likely to be up against?What are the odds of winning?How do I counter their claims?

3. Target Audience Who do I approach? Who calls theshots?

4. Sales Will Sales qualify deals? Do theyneed training?

4. Partners Who leads this deal? What’s in itfor partners?

Doing the hard work up front pays off


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Best Practice #2: Establish theRight Structure

Campaign Structure

1. Value Proposition Addressing an importantbusiness issue with a viableoffer that represents a uniqueadvantage to your companywith credible evidence tosupport these claims

2. Concrete &Compelling Offer

Specific, customer-actionabledeal

3. Call to Action Explicit direction to client (e.g.,free whitepaper, free trial) andexplicit direction to Sales (e.g.,commission)

Determining structure and content is key tosuccess


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Best Practice #3: End-to-EndMarketing Campaign Design

Awareness Interest Desire Action

KillerContent

Why? What? How? When?

Partnerteamenablement

Partner jointmarketing

Opportunitymapping

Mappingback topartnerplans

Salesenablement

Demandcreation viawebsite,online ads,e-mail & PR

CustomerMeeting

Demos

Workshop

Trials

POC

Pilot

Helping prospects move through the cycle isimperative


21

End-to-End Marketing CampaignCycle (mapped to selling cycle)

End-to-end Marketing Campaign Manager:

Campaign Design, project mgmt, execution mgmt, results/metrics reporting

Sales Readiness

Sales

Value

Proposition

Elevator Pitch

Qualification

Presentation Sales Tools Client Offer

Sto

ry &

Str

ate

gy

Metrics/Results

Action/Trial Preference ConsiderationAwareness

PR

Feature Story

Newsletter

Trial

White paper

Demo

OfferData sheet

Case Study

Ad

E-Mktg Letter

Target Customer

Target SegmentsTarget TitlesTarget RegionsGTM Partners


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Vicki Morris, NorthStar

[email protected]

415-344-6117

Credits/Thank You

Documents

B2B Segmentation Strategies and Procedures · PDF fileMore data on this topic available from:: B2B Segmentation Strategies and Procedures Vicki Morris, VP Marketing NorthStar Systems