Best practices in B2B marketing

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Feb 17, 2014 (3 years and 5 months ago)

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Best practices

in B2B marketing

Canadian Marketing Association

Jeff Lowe

April 29, 2009


TELUS Business Solutions

Is B2B marketing becoming obsolete?

“B2B marketers can no longer

afford to emphasize lead volume

over lead quality.”


“Marketers Need a More
Systematic

Approach to demand Generation”

“B2B Marketers Fail the Community Marketing Test”

“Rapid Growth of Lead Databases Posing
New Challenges For BtoB Marketers”



“B2B Marketers Struggling to Integrate Web 2.0 Strategies Into Marketing Mix”



“How to avoid B2B Marketing Obsolescence:

Community Marketing Transforms the Marketing Role”

“B
-
to
-
B Marketers Must Sharpen Measurement Tools”

“B2B marketing needs a makeover


NOW!”

B2B marketers face different challenges than B2C


B2B buying requires
complex orchestration of
activities between multiple
parties


B2B addressable market is

a few thousand at best


Therefore, success is less

about generating demand

than fostering relationships

Buying process characteristics

B2C

B2B

Decision
makers

Individual

Many

Decision
duration

Short

Long

Purchase
approval

None

Multilevel

Product cost

Low to medium

High

Pricing style

Retail

Negotiated, contractual

Consideration

Low to medium

High

Channels

Retail, dealers

Distributors, service

providers. VARs

Predominant

Web usage

Price compare/

purchase

Gather information/

evaluate

Loyalty

Short term

Longer term

Five marketing best practices for B2B marketers

5

Measurement
:


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

4

Integration:

Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional,
interactive and social media.

3

Loyalty
:

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

Five marketing best practices for B2B marketers

Five best practices

1

New online media
:

Enhance relationships with customers through
social media strategies

and online community marketing

2

Demand management
:

Move from
generating

demand to actually
managing

it.

3

Loyalty
:

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

to loyal, to advocates.

4

Integration
:

Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional,
interactive and social media.

5

Measurement
:


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

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

Highly important

Peer/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%

TELUS Business Solutions

Social marketing in B2B: Where to start?

TELUS Business Solutions

Start by monitoring your share of voice

Social media share of voice in the last 30 days

Total number of posts based on 2971 conversations

TELUS

TELUS Business Solutions

Example
: A different kind of product launch

TELUS Business Solutions

Social media
: Watching the story go viral

Jan 22: MobileSyrup.com

posts teaser blog

BlackBerryRocks.com reposts story

with link to Noordinaryphone.com

Jan 19: Agency invites
MobileSyrup.com to the event via
email

1

TELUS Business Solutions

Social media
: Watching the story go viral

BerryReview.com

TheBlackBerryBlog.com

BlackBerryHomePage.com

DejaTalk.com

TopBlackBerryNews.com

MBsTechNews.com

IntoMobile.com

Jan 27: MobileSyrup.com posts 8350i
launch announcement with pricing

2

TELUS Business Solutions

Social media
: Watching the story go viral

Mippin.com

IntoMobile.com*

NewMobileTech.com

TopBlackBerryNews.com*

CDMAandGSM.com

TelephoneIssues.com

NewTechDirectory.com

MBsTechNews.com

Mobeel.mobi

CrackBerry.com*

PhonesReview.co.uk

BlackBerryNews.com

*With link to Noordinaryphone.com

Jan 28: MobileSyrup.com posts

from launch party at AIM Autosport
(including a link to Noordinaryphone.com)

3

TELUS Business Solutions

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
Number of Blog Posts

Invitations distributed to
bloggers and journalists

Product and pricing
announced to media

Live blogging at media/blogger
event held at AIM Autosport

MobileSyrup.com
posts teaser blog

Engadget reviews

BlackBerry Curve 8350i

AIM Autosport video
posted to YouTube

Online editorial outreach
: Momentum building

TELUS Business Solutions


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 & 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

“Here's 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,


it's a good vid to watch.

Low key, but honest.”

TELUS Business Solutions

Key takeaway #1

With new social and online media,

start by monitoring what is being said about you
versus leaping into tactics

Five marketing best practices for B2B marketers

Five best practices

1

New online media
:

Enhance relationships with customers through
social media strategies

and online community marketing

2

Demand management
:

Move from
generating

demand to actually
managing

it.

3

Loyalty
:

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

to loyal, to advocates.

4

Integration
:

Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional,
interactive and social media.

5

Measurement
:


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

The case for demand management

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

TELUS Business Solutions

Manage demand, don’t just generate it

Source: Sirius Decisions

The old way

The new way

HAND OFF

TO SALES

GENERATE

LEADS

CLOSED/WON
BUSINESS?

CLOSED/WON
BUSINESS.


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

SALES
QUALIFIED
LEADS

SALES
ACCEPTED
LEADS

MARKETING
QUALIFIED
LEADS

INQUIRIES

TELUS Business Solutions

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 for
nurturing


In past
campaigns 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

1

25%

Probability of closing

2

50%

Probability of closing

4

75%

Probability of closing

2

Closed

TELUS Business Solutions

Key takeaway #2


All leads are not created equal.

Collaborate with Sales on how to score leads,
nurture inquiries, and track closed business

Five marketing best practices for B2B marketers

Five best practices

1

New online media
:

Enhance relationships with customers through
social media strategies

and online community marketing

2

Demand management
:

Move from
generating

demand to actually
managing

it.

3

Loyalty
:

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

to loyal, to advocates.

4

Integration
:

Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional,
interactive and social media.

5

Measurement
:


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

TELUS Business Solutions

So what are the key drivers of loyalty in B2B?

The Marketing Leadership Council explored more than

100 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

TELUS Business Solutions

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 critical

for satisfaction


seem to have
no discernible impact on loyalty

“The road to Loyalty Town goes

through Satisfaction Station”



FIXING DISSATISFIERS IS
TABLESTAKES
.

Drivers of customer loyalty

Drivers by percentage contribution to customer loyalty


Percentage of contribution to customer loyalty

Company and

brand impact

Product and

service delivery

Value
-
to
-

price ratio

Purchase

experience
with Sales

MLC1AUTL23 © 2009 Corporate Executive Board. All Rights Reserved.

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


52%

19%

9%

19%

MLC1AUTL23 © 2009 Corporate Executive Board. All Rights Reserved.

Purchase experience loyalty drivers

GREATEST DRIVERS

OF LOYALTY

WEAKEST DRIVERS

OF LOYALTY

GREATEST

DRIVERS OF

LOYALTY

WEAKEST

DRIVERS OF

LOYALTY

DECISION MAKERS

END
-
USERS AND INFLUENCERS


Helps me avoid

potential land mines


Supplier has widespread

support across my organization


Supplier is easy

to buy from


Helps me

navigate

alternatives


Offers unique,

valuable perspectives

on the market


Educates me on new

issues and outcomes


Provides ongoing

advice or

consultation


Helps me

quantify

financial value


Portrays a realistic

picture of purchase

costs and difficulties


Helps me improve my

professional standing

and meet KPIs


Advocates for me

within the organization


Demonstrates

a high level of

professionalism


Helps me shorten

the buying cycle


Matches communications

to my preferences


Collaborates with

other suppliers


Remains readily

accessible


Excels in diagnosing

our specific needs


Productively accelerates

decision making


Supplier adjusts to

our unique needs

and specifications

UNIVERSAL
VALUE OF
TEACHING

While decision
-
makers and end
-
users differ
significantly on many
loyalty drivers, both
value suppliers’
ability to teach.

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 deliver

teaching 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

TELUS Business Solutions

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 SOURCES

OF INSIGHT


Lead with

products,

solutions and
benefits

Q: When do I

use this?

A: All accounts

Q: When do I

use this?

A: Top 10 to 20
accounts

Q: When do I

use this?

A: Key “must win”
deals

Stages of insight and the TELUS teaching tools that align

8 TOOLS

6 TOOLS

5 TOOLS

TELUS Business Solutions

Key takeaway #3


The sales experience is the biggest driver

of loyalty in B2B. Marketing’s role is to enable

the sales force to teach.

Five marketing best practices for B2B marketers

Five best practices

1

New online media
:

Enhance relationships with customers through
social media strategies

and online community marketing

2

Demand management
:

Move from
generating

demand to actually
managing

it.

3

Loyalty
:

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

to loyal, to advocates.

4

Integration
:

Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional,
interactive and social media.

5

Measurement
:


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

TELUS Business Solutions

Integrated approach

Emotion

Experience

Relationship

Print/radio

Sponsorships

Online ads

Advertising

Events

Sales interactions

Email, direct mail

Programs

Web site

Social marketing

Online ads

Web

…because every buyer is a person.

To truly engage that buyer,

you need a coordinated mix.

Individual tactics won’t achieve that.

$

Tactics

Customer
buying cycle

TELUS Business Solutions

Integrated approach

Event Request Card

Online Ads


Social Media Conversations

Radio

Telemarketing Response

Email/Direct Mail Response form



Opt
-
in to Permission

Based Email Database

Print

Awareness

Interest

Desire

Action

Leads to

Sales Channels

5.6 million

Impressions


142,000

Inquiries

3% conversion


from impressions

5,000

Marketing

Qualified Leads

3% conversion from Inquires

Web Site Request forms



Search Engine Click Thru’s

500 Sales

10% conversion rate from MQL

Sponsorships SEM/SEO

Email

Direct Mail

TELUS Business Solutions

Key takeaway #4


There is no “silver bullet” tactic.

The key is to deploy tactics in an integrated

and coordinated fashion.

Five marketing best practices for B2B marketers

Five best practices

1

New online media
:

Enhance relationships with customers through
social media strategies

and online community marketing

2

Demand management
:

Move from
generating

demand to actually
managing

it.

3

Loyalty
:

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

to loyal, to advocates.

4

Integration
:

Use an integrated approach to marketing mix planning that leverages the unique strengths of traditional,
interactive and social media.

5

Measurement
:


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

TELUS Business Solutions

Focus only on marketing investments strategically important

to the company


then execute, measure and optimize.


Marketing dashboard hierarchy

Marketing Goals & Objectives

Organizational Strategy

Marketing Activities

TELUS Business Solutions

TELUS Business Solutions marketing dashboard

2009 Marketing Programs and Customer Communications Dashboard


January YTD

Imperative

Weight

KPI

2008

Actual

2009
Target

Imperative 1

Imperative 2




Imperative 3

Imperative 4

TELUS Business Solutions

Key takeaway #5


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

TELUS Business Solutions

Summary
: Key takeaways

1.
Social media strategies
.

With new social and online media, start by monitoring what is being said

about 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. Marketing’s 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 with

non
-
marketing executives and in context of broader organizational objectives.