Best Practices in b2b Marketing2121.Ppt [Compatibility Mode]

8/13/2019 Best Practices in b2b Marketing2121.Ppt [Compatibility Mode]

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Best practicesin B2B marketing

Canadian Marketing Association

Jeff Lowe

April 29, 2009


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TELUS Business Solutions

Is B2B marketing becoming obsolete?

B2B marketers can no longerafford to emphasize lead volume

over lead quality.

B2B marketers can no longerafford to emphasize lead volume

over lead quality.

Marketers Need a MoreSystematic

Approach to demand Generation

Marketers Need a MoreSystematic

Approach to demand Generation

B2B Marketers Fail the Community Marketing Test

B2B Marketers Fail the Community Marketing Test

Rapid Growth of Lead Databases Posing

New Challenges For BtoB Marketers

Rapid Growth of Lead Databases Posing

New Challenges For BtoB Marketers

B2B Marketers Struggling to Integrate Web 2.0 Strategies Into Marketing Mix

B2B Marketers Struggling to Integrate Web 2.0 Strategies Into Marketing Mix

How to avoid B2B Marketing Obsolescence:

Community Marketing Transforms the Marketing Role

How to avoid B2B Marketing Obsolescence:

Community Marketing Transforms the Marketing Role

B-to-B Marketers Must Sharpen Measurement Tools

B-to-B Marketers Must Sharpen Measurement Tools

B2B marketing needs a makeover NOW!

B2B marketing needs a makeover NOW!


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B2B marketers face different challenges than B2C

B2B buying requirescomplex orchestration ofactivities between multipleparties

B2B addressable market isa few thousand at best

Therefore, success is lessabout generating demandthan fostering relationships

Buying process characteristics

B2C B2B

Decisionmakers

Individual Many

Decisionduration Short Long

Purchaseapproval

None Multilevel

Product cost Low to medium High

Pricing style Retail Negotiated, contractual

Consideration Low to medium High

Channels Retail, dealers Distributors, serviceproviders. VARs

PredominantWeb usage

Price compare/purchase

Gather information/evaluate

Loyalty Short term Longer term


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Five marketing best practices for B2B marketers

5 Measurement:Make quantitative measurement the foundation to accountability and closed-loop marketing.

4Integration:Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional,

interactive and social media.

3Loyalty:Quantify customer lifetime value and market to customers to advance them from retained, to satisfied,

to loyal, to advocates.

2 Demand management:Move from generating demand to actually managing it.

1 New online media:Enhance relationships with customers through social media strategies and online community marketing

Five best practices


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Five best practices



3Loyalty:Quantify customer lifetime value and market to customers to advance them from retained, to satisf ied,






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Prospects & decision makers rely on each other & the Web

When researching telecom products, how important are

these media for informing your purchase decisions?

Base: 2187 telecom and network decision makers Source: Enterprise And SMB Networks And Telecom. Survey, North America And Europe, Q1 2008

Media/information source HighlyimportantPeer/WOM 36%

Vendor Web Site 34%

Trade/ Industry magazine Web Site 34%

Consultants/VARs/SIs 21%

Trade magazines/publications 20%

Forums/communities 20%

Trade shows and conferences 19%

Blogs 15%

Webinars or online events 14%

Web 2.0: video, podcasts, Internet apps, RSS,etc.

14%


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Social marketing in B2B: Where to start?


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Start by monitoring your share of voice

Social media share of voice in the last 30 daysTotal number of posts based on 2971 conversations

TELUS


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Example: A different kind of product launch


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Social media: Watching the story go viral

Jan 22: MobileSyrup.composts teaser blog

BlackBerryRocks.com reposts storywith link to Noordinaryphone.com

Jan 19: Agency invitesMobileSyrup.com to the event viaemail1


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BerryReview.com

TheBlackBerryBlog.com

BlackBerryHomePage.com

DejaTalk.com TopBlackBerryNews.com

MBsTechNews.comIntoMobile.com

Jan 27: MobileSyrup.com posts 8350ilaunch announcement with pricing2


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Mippin.com

IntoMobile.com*

NewMobileTech.com

TopBlackBerryNews.com*

CDMAandGSM.com

TelephoneIssues.com NewTechDirectory.com

MBsTechNews.com

Mobeel.mobiCrackBerry.com*

PhonesReview.co.ukBlackBerryNews.com

*With link to Noordinaryphone.com

Jan 28: MobileSyrup.com postsfrom launch party at AIM Autosport(including a link to Noordinaryphone.com)3


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0

10

20

30

40

50

60

70

Dec. 28 -Jan. 3

Jan. 4-Jan. 10

Jan. 11 -Jan. 17

Jan. 18 -Jan. 24

Jan. 25 -Jan. 31

Feb. 1 -Feb. 7

Feb. 8 -Feb. 14

Feb. 15 -Feb. 21

Feb. 22 -Feb. 28

Mar. 1 -Mar. 7

Numberof

BlogPosts

Invitations distributed to

bloggers and journalists

Product and pricing

announced to media

Live blogging at media/blogger

event held at AIM Autosport

MobileSyrup.composts teaser blog Engadget reviewsBlackBerry Curve 8350i

AIM Autosport video

posted to YouTube

Online editorial outreach: Momentum building


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16 media & bloggers attended the event (target was 10)

113 blog posts

5 YouTube postings

7 online articles

1 forum posting

3 print article

24 Twitter posts

Over 10,000,000 impressions

~$2M advertising value for 5% of the cost

Results to date

Today was no ordinary

day for the folks at TELUS.

With the launch of the highly

anticipated BlackBerry 8350i, also

came a by invitation

only launch event, hosted

at a unusual venue.

This has to be one of the

very first events I have been to;

that successfully demonstrated

the importance of the technology

that is being celebrated.

16 media & bloggersattended the event

(target was 10)

113 blog posts

5 YouTube postings

7 online articles

1 forum posting

3 print article 24 Twitter posts

Over 10,000,000impressions

~$2M advertising valuefor 5% of the cost

Heres a cool way to do

up the launch event for

a new smartphone...

TELUS made official their

BlackBerry Curve 8350i by

holding the press event on

location at AIM Autosport, a

company (they race stuff fast

stuff across North America)that takes advantage of the

Push to Talk services offered

by TELUS Mike system. Sweet.

If you have 10 minutes to kill,

its a good vid to watch.

Low key, but honest.


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Key takeaway #1

With new social and online media,

start by monitoring what is being said about youversus leaping into tactics


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Five best practices









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The case for demand management

Source: October 4, 2006, Improving B2B Lead Management report, Forrester Research


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Manage demand, dont just generate it

Source:SiriusDe

cisions

The old way The new way

HAND OFF

TO SALES

GENERATE

LEADS

CLOSED/WONBUSINESS?

CLOSED/WONBUSINESS.

Total number of handraisers

Unique metrics for current customers

Definition through sales/marketing

SLA

Marketing deems ready for handoff

Basic qualification tenets met

Sales agrees to work leads

Opportunity identified

Now part of pipeline

Booked revenue

IDs topline contribution

SALESQUALIFIED

LEADS

SALESACCEPTED

LEADS

MARKETINGQUALIFIED

LEADS

INQUIRIES


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Results from a 2-week period

Channel MQLs Unqualified Not Actioned Open Contacted SQL

Total 132 5 26 44 42 15

Total Opt-ins (or Inquiries) Requires Nurturing MQL

429 297 132

So what?

132 leads scored by marketing/sales as qualified

85% of leads accepted by within 8 hours

297 marketing leads fornurturing In pastcampaigns these would have been lost or passed over

to sales as poor leads. Closed loop reporting: marketing automation

interface with sales automation

6 10% Probability of closing




2 Closed


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Key takeaway #2

All leads are not created equal.Collaborate with Sales on how to score leads,nurture inquiries, and track closed business


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Five best practices









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So what are the key drivers of loyalty in B2B?

The Marketing Leadership Council explored more than100 marketing practices and capabilities commonly believed to

contribute to customer loyalty.

SOURCE: Marketing Leadership Council Loyalty Survey,

Marketing Leadership council research.

SAMPLE ATTRIBUTES TESTED FOR IMPACT ON LOYALTY


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The road to loyalty is through Satisfaction Station

The jury is still out.

SELECT ATTRIBUTES THAT ARE NOT STATISTICALLY SIGNIFICANT

SOURCE: Marketing Leadership Council Loyalty Survey,Marketing Leadership council research.

Responding promptly to customer concerns

Comprehensiveness of customer problem resolution process

Single point of contact for customer problem resolution

Formal protocol for follow-up with disloyal customers

Executive-level loyalty sponsorship teams

Frequency of account manager turnover

Resources allocated to customer problem resolution

Set realistic (not inflated) customer expectations

Attributes associated with eliminating dissatisfaction while criticalfor satisfaction seem to have no discernible impact on loyalty

The road to Loyalty Town goesthrough Satisfaction Station

FIXING DISSATISFIERS ISTABLESTAKES.


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Drivers of customer loyalty

Drivers by percentage contribution to customer loyalty

Percentageofcontributiontoc

ustomerloyalty

Company andbrand impact

Product andservice delivery

Value-to-price ratio

Purchaseexperiencewith Sales

MLC1AUTL23 2009 Corporate Executive Board. All Rights Reserved.

Long-term drivers of loyalty Short-term drivers of loyalty

52%

19%

9%

19%


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MLC1AUTL23 2009 Corporate Executive Board. All Rights Reserved.

Purchase experience loyalty drivers

GREATEST DRIVERSOF LOYALTY

WEAKEST DRIVERSOF LOYALTY

GREATESTDRIVERS OF

LOYALTY

WEAKESTDRIVERS OFLOYALTY

DECISIONMAKERS

END-USERS AND INFLUENCERS

Helps me avoidpotential land mines

Supplier has widespreadsupport across my organization

Supplier is easyto buy from

Helps menavigatealternatives

Offers unique,valuable perspectiveson the market

Educates me on newissues and outcomes

Provides ongoingadvice orconsultation

Helps mequantifyfinancial value

Portrays a realisticpicture of purchasecosts and difficulties

Helps me im prove myprofessional standingand meet KPIs

Advocates for mewithin the organization

Demonstratesa high level of

professionalism

Helps me shortenthe buying cycle

Matches communicationsto my preferences

Collaborates withother suppliers

Remains readilyaccessible

Excels in diagnosingour specific needs

Productively acceleratesdecision making

Supplier adjusts toour unique needsand specifications

UNIVERSALVALUE OFTEACHING

While decision-

makers and end-

users differ

significantly on many

loyalty drivers, both

value suppliers

ability to teach.


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Key takeaways

In response to a challenging economic environment, Sales and Marketing have

aligned around a focus on customer loyalty because it is the fastest, most

profitable path to growth.

In the short-term, the customers purchase experience is, by far, the largest single

driver of customer loyalty larger than product, brand, service, or even price.

The most effective method for differentiating the purchase experience is to deliverteaching interactions that reframe the way a customer assigns value to areas where

the supplier outperforms its competitors.

Accordingly, leading organizations create effective teaching interactions by

addressing the following three key questions:

What should I teach my customers?

How do I enable sales reps to teach?How do I increase customer demand for teaching?

1

2

3

4


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Stage 0

Strategic

value

high

Time and

effort required

low

Product selling Consultative selling

Product pusher

Researcher

Benchmarker

Strategic facilitator

Stage 3

Stage 2

Stage 1

6 SOURCESOF INSIGHT

Lead with

products,

solutions and

benefits

Q: When do Iuse this?

A: All accounts


A: Top 10 to 20

accounts


A: Key must win

deals

Stages of insight and the TELUS teaching tools that align

8 TOOLS

6 TOOLS

5 TOOLS


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Key takeaway #3

The sales experience is the biggest driverof loyalty in B2B. Marketings role is to enable

the sales force to teach.


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Five best practices



3 Loyalty:

Quantify customer lifetime value and market to customers to advance them from retained, to satisf ied,






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Integrated approach

Emotion Experience Relationship

Print/radio

Sponsorships

Online adsAdvertising

Events

Sales interactions

Email, direct mail

Programs

Web site

Social marketing

Online ads

W

eb

because every buyer is a person.

To truly engage that buyer,

you need a coordinated mix.Individual tactics wont achieve that.

$

TacticsCustomer

buying cycle


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Integrated approach

Event Request Card

Online Ads

Social Media Conversations

Radio

Telemarketing Response

Email/Direct Mail Response form

Opt-in to PermissionBased Email Database

PrintAwareness

Interest

Desire

Action Leads toSales Channels

5.6 millionImpressions

142,000Inquiries

3% conversionfrom impressions

5,000Marketing

Qualified Leads3% conversion from Inquires

Web Site Request forms

Search Engine Click Thrus

500 Sales10% conversion rate from MQL

Sponsorships SEM/SEO

EmailDirect Mail


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Key takeaway #4

There is no silver bullet tactic.The key is to deploy tactics in an integrated

and coordinated fashion.


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Five best practices



3 Loyalty:Quantify customer lifetime value and market to customers to advance them from retained, to satisf ied,to loyal, to advocates.





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Focus only on marketing investments strategically importantto the company then execute, measure and optimize.

Marketing dashboard hierarchy

Marketing Goals & Objectives

Organizational Strategy

Marketing Activities


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TELUS Business Solutions marketing dashboard2009 Marketing Programs and Customer Communications Dashboard January YTD

Imperative Weight KPI

2008

Actual

2009

Target

Imperative 1

Imperative 2

Imperative 3

Imperative 4


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Key takeaway #5

When it comes to measurement, define marketingobjectives together with non-marketing executivesand in context of broader organizational objectives


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Summary: Key takeaways

1. Social media strategies.With new social and online media, start by monitoring what is being saidabout you versus leaping into tactics.

2. Demand management.All leads are not created equal. Collaborate with sales on how to score leads,

nurture inquiries, and track closed business.

3. Loyalty.The sales experience is the biggest driver of Loyalty in B2B. Marketings role

is to enable the sales force to teach.

4. Integration.There is no silver bullet tactic. The key is to deploy tactics in an integrated

and coordinated fashion.

5. Measurement.

When it comes to measurement, define marketing objectives together withnon-marketing executives and in context of broader organizational objectives.


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Best Practices in b2b Marketing2121.Ppt [Compatibility Mode]