driving demand generation results via digital nurturing

Driving Demand Generation Results Via Digital Nurturing

Prepared for Straumann 15 February 2011 © Leftbrain Marketing Inc. All Rights Reserved

We Are a Demand Gen Agency §  Left Brain helps enterprise companies design and

execute successful, modern demand generation programs.

§  Left Brain combines: –  Process: Leverage TLBM proprietary approach –  Content: Centered around Buyer 2.0 –  Technology: Powered by marketing automation

§  Left Brain delivers strategy, production, analytics and optimization.

© Leftbrain Marketing Inc. All Rights Reserved

Agenda

§  The art of digital nurturing §  Buyer 2.0 and the buying process §  Content marketing: The new ‘secret sauce’ §  Digital nurturing basics §  Straumann nurturing pilot program

Presentation goal: Understand the modern digital nurturing impetus in the era of Buyer 2.0 and the strategic role of content + email/Web nurturing in the new content-based buyer dialogue.

THE ART OF DIGITAL NURTURING

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State of modern demand generation?

Failing B2B demand generation

Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"

People + processes + content ...

Source: Bulldog Solutions/Frost & Sullivan, "The Executive Benchmark Assessment"

Nurturing = Key to demand generation

B2B demand-gen is a numbers game

§  Only 2-5% of raw inquiries coming into the top of the B2B marketing and sales ‘funnel’ convert to sales.

§  25-30% of B2B marketing databases have bad or incomplete records.

Source: SiriusDecisions Summit 2010

Nurturing = It’s about efficiency

Nurturing = It’s about timing

sort-of-ready definitely not ready

Source: MarketingSherpa, "2010 E-mail Marketing: Benchmark Report"

Nurturing = It’s about the relationship

Dialogue = Key to nurturing

Dialogue = architecture of nurturing

LISTEN TO PROSPECT

OFFER CONTENT

GET FEEDBACK

PLAN + TUNE NEXT

OFFER

Dialogue = non-linear nurturing

Outbound Marketing Inbound Marketing

Initial Buyer Interest

Collect Buyer Insights +

Route

Follow-up / Content Offer

More Buyer Interest + Action

Initial Human Contact

Sales Follow-up

Marketing Nurturing

+ Marketing Automation

Sales Nurturing

+ CRM

Scoring + Segmentation +

Routing

Add. Explicit + Behavioral Data

Collection

Marketing Automation to

CRM Sync

Email Sent

Web Form Data Collection

Nurturing = Improved sales results

Lead quality is key to sales.

“[S]ales reps that focused on fewer, more winnable deals tend to do better. Flooding the rep with low quality/high quantity leads only increases their inefficiencies … .”

Source: SiriusDecisions, “The Perfect Pipeline: When Less Is More”

Digital nurturing improves sales.

Best-in-class:

§  Double the bid-win-ratio on nurtured leads

§  Nurtured leads delivered 47% higher average order values

Source: Aberdeen Group, "Lead Nurturing: The Secret to Successful Lead Generation"

BUYER 2.0 AND THE BUYING PROCESS TODAY

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Information consumption patterns of B2B buyers are rapidly changing.

#1 - B2B buyers are increasingly turning to online sources, on their own, earlier in their process, to research purchases before ever calling a 'live' sales rep.

Turning to online sources ...

Source: Enquiro, “Integrated Persuasion: Online and Offline”

As they need things ... 72% of the time ‘"t for a speci"c need at a speci"c time’ is the number one reason for a B2B purchase today.

Source: Forrester Marketing Forum 2010 presentation

#2 - B2B buyers are increasingly leveraging social media -- such as Twitter, blogs, etc. – for peer communication in the information collection and validation phases of the buying process.

Peer in"uence is king ...

Source: ITSMA, “How Customers Choose Solution Providers, 2009.” Global data.

Leveraging the Groundswell ... “The groundswell is: A social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations.”

Source: Charlene Li and Josh Bernoff, Groundswell.

Leveraging social media ...

Source: B2B Marketing/Base One, "BUYERSPHERE, Survey of B2B Buyers' Use of Social Media"

#3 – B2B marketers are shifting their attention away from traditional, ad-driven demand generation channels as B2B buyers shift to new channels.

Education ^ ... Interruption v

education

interruption

Source: MarketingSherpa, “2009-2010 B2B Marketing: Benchmark Report.”

$715,652 $671,808 $633,760$808,222

$1,129,649 $953,748$912,532$693,603

$1,813,536

$4,167,452

$2,211,488$2,508,006$2,424,666

$3,192,982

$2,196,409

$3,853,764

$2,467,216

$3,577,222

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

2009 2008 2007 2006 2005 2004 2003 2002 2001

Uptick in content marketing ...

32%

27%

Source: Custom Publishing Council, “2009 Spending Study.” US data.

What hasn’t changed?

B2B buyer decision cycle Satisfaction

Acknowledgment

Decision

Criteria

Selection

Investigation

Reconsideration

Measurement Source: R. Jolles

What has changed?

Emerging buying cycle gap ... Satisfaction

5%

Acknowledgment 79%

Decision

Criteria

Selection

Investigation

Reconsideration

Measurement Source: R. Jolles

Emerging buying cycle gap ... Satisfaction

Acknowledgment

Decision

Criteria

Selection 2%

Investigation 2-3%

Reconsideration

Measurement Source: R. Jolles

Emerging buying cycle gap ... Satisfaction

Acknowledgment

Decision

Criteria

Selection 2%

Investigation 2-3%

Reconsideration

Measurement

problem

Source: R. Jolles

Emerging buying cycle gap ... Satisfaction

Acknowledgment

Decision

Criteria

Selection 2%

Investigation 2-3%

Reconsideration

Measurement

problem

problem

Source: R. Jolles

CONTENT MARKETING: THE NEW ‘SECRET SAUCE’

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From tactical to strategic content

Content was ...

Relevant messaging?

“86% of the 'unique bene"ts' touted by vendors were not perceived as unique or having enough impact to create preference.”

Source: Tim Riesterer, "Three B2B Value-Proposition Rules That Create Preference, Not Just Parity"

One-to-one engagement?

“Buyers have higher expectations for intimacy. … We have built intimacy into the later stages of the buying process. … But at the front end, our traditional tactics are starting to come off with all the warmth and sincerity of an English royal.”

Source: Chris Koch, “Why you need to turn your customers into stalkers”

Content is now ... §  Critical information §  Conveyed on speci#c topics §  Carries the buying process forward §  Delivered via right channel / timing / voice

... aligned to speci#c phases of the buying cycle.

Aligning content by buying stage

Acknowledgment Social media Thought leadership (w/ E-mail nurturing) Traditional media

Decision E-mail nurturing

Field events Search

Criteria Analyst reports

Blog + Web reviews Search

Investigation Detailed product literature

Sales proposals

Measurement Analyst reports Search Product Web sites Source: R. Jolles

w/ A. Needles contributions

Designing content marketing

Source: Left Brain DGA

DIGITAL NURTURING BASICS

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Nurturing approach

Nurturing process

Outbound Marketing Inbound Marketing

Initial Buyer Interest

Collect Buyer Insights +

Route

Follow-up / Content Offer

More Buyer Interest + Action

Initial Human Contact

Sales Follow-up

Marketing Nurturing

+ Marketing Automation

Sales Nurturing

+ CRM

Scoring + Segmentation +

Routing

Add. Explicit + Behavioral Data

Collection

Marketing Automation to

CRM Sync

Email Sent

Web Form Data Collection

Demand generation integration

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Engagement

Nurturing

Acquisition

Content marketing programs

Technology infrastructure

Lead management processes

Lead management stages

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QUALIFIED RESPONDENTS

SALES READY LEADS

PROSPECTS

RESPONDENTS

SALES OPPORTUNITIES

CLOSED-WON

NON-RESPs

NON-QRs

NON-SRLs

NON-SOs

The Left Brain Model for Demand Generation

Nurturing path = the dynamic campaign

§  Buyer triggered; pull not push §  Match content to stage of process §  Persona targeting §  One-to-one relevance §  Progressive pro#ling §  Scoring/routing drive next touch point

Nurturing path = the dynamic campaign

Source: Left Brain DGA

Our nurturing levers

Our nurturing levers

1.  Email 2.  Progressive pro#ling + scoring 3.  Web content 4.  Inbound to outbound integration 5.  Marketing automation infrastructure

#1 - Email

Email = Top B2B tactic •  89% of B2B marketers use email. •  Email is the number-one

outbound B2B marketing tactic used today.

Source: Forrester Marketing Forum 2010 presentation

B2B Sales Resources Are Costly

30x

Email strengths and weaknesses §  Great for

–  Sustaining engagement ... nurturing thread –  Delivering targeted offers to buyers you know

§  Not so good for –  Front-end lead generation –  Repeated mass offers to buyers you don’t know

#2 - Progressive pro#ling

Progressive pro#ling - collection 1. Basic Lead Form 2. Returning Leads –

Pre Populate 3. Returning Leads –

Pre-Populate – Gather More

4. Returning leads – Personalize – Pre-Populate – Progressively

Gather More

Progressive pro#ling - logic

1st contact

2nd/3rd contact

later contact + behavioral

Source: MarketingSherpa and KnowledgeStorm, “Connecting Through Content”

Lead scoring

Scoring Model +160 pts (210 total)

Category   Type   Response   Pts   Response   Pts   Response   Pts   Response   Pts  

Qualified  Respondents?                                                      BCC3  

Industry   Demographic   Target  industry   20   Non-­‐target  industry   10  Size  of  company   Demographic   SMB  range  1   40   SMB  range  2   30   Enterprise   20  Viewed  demo   Behavioral   Yes   15  Length  of  Jme  viewed  demo   Behavioral   Threshold   15   Below   10  

BCC4  Key  pain  points   Demographic   Tight  fit   40   Loose  fit   30   No  fit   0  Went  to  decision  tool   Behavioral   Yes   15  Number  of  quesJons  on  decision  tool   Behavioral   Threshold   15   Below   5  

PC3  (wait  1  day)  Opportunity  to  complete  core  BCC3/4  data  Download  analyst  tool   Behavioral   Yes   30  

PC4  (wait  7  days)  Opportunity  to  complete  core  BCC3/4  data  Click  on  other  resources   Behavioral   Each   20  

Note:    Need  score  of  200  to  be  a  'Qualified  Respondent.'    If  not,  will  get  sent  to  promoFonal  tracks  and/or  drip  track  unFl  you  meet  the  threshold.  

Source: Left Brain DGA

#3 - Web content

B2B Buyers Hearing More eNoise

Inbound is more critical than ever “Currently, more than half of all new inquiries are generated through the Web; we believe that by 2015, this number will rise to nearly 75%. Inbound marketing [is not] new in theory, but ... marketers must plan for it ... .”

Source: SiriusDecisions, “Inbound Marketing, the Sirius Way”

Strong inbound Web content

§  Blog content §  Downloads §  Social updates, thread participation §  Webinars §  White papers §  Video

#4 – Inbound to outbound integration

Nurturing integration

Google Blog Post

Other Download Nurture

Call ‘Qual’ Team

Inside Sales

Pick-up

Search to Inside

Twitter Webinar White Paper Nurture Field

Event

Field Sales

Pick-up

Twitter to Live

#5 – Marketing automation infrastructure

Marketing technology adoption §  CRM adoption has grown from 53% in 2003 to

75% in 2010. (CSO Insights)

§  Marketing automation adoption is 7-10%, projected to rise to 30% by 2015. (SiriusDecisions)

Sources: SiriusDecisions Summit 2010; CRM Magazine, "CRM: Then and Now"

Capabilities of marketing automation

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CRM Marketing Automation

Batch / Blast Email

Single Emails

Nurturing Campaigns

Demographic Scoring

Behavioral Scoring

Form Builder

Landing Page Builder

Dynamic List Segmentation

Dynamic Email Content

High Volume Emails

Web Visitor Tracking

ROI Reporting

System integration

CRM Platform

Link Source Tracking

Website + Blog CMS

Marketing Automation

Inbound Marketing

Optimization

Marketing Analytics

Social Media Activity Tracking

Ad/Site Tracking

Source: Left Brain DGA

Closing points

Closing points §  Demand gen = nurturing = buyer dialogue §  Engage with Buyer 2.0 substantively §  Develop serious content §  Scoring + lead management = key to quality §  Need BOTH process + marketing automation §  Goal = greater + more-efficient revenue