New Presentation Design

Buying Process Marketing Overview

§  More, Higher Quality Leads §  Higher Conversion Rates §  Increase Marketing Revenue

Agenda

1

2

3

Goal

Getting to Systematic Success

Overview

4

5

Overarching Approach

The Buying Process

7

8

9

System Phases

Risk Drivers & KSFs

22 Step System

10

11

Timeframe Required

Who is Involved

6 Systematizing the Approach 12 Why this Works

The goal of this overview is to help you make an

informed decision about using a systematic process to

increase marketing revenue instead of using one-off

“spray and pray” marketing techniques and

approaches.

GOAL

OVERVIEW

We have a problem…

§  Product sales (revenue) for one or more products are low.

§  We are introducing a new product and need X sales for profitability.

§  Sales reps are closing fewer leads and/or are complaining about poor lead quality.

§  Website opt-in’s aren’t converting to sales and/or website traffic is down.

§  Overall sales have fallen off and we don’t know why.

§  Customer engagement has dropped, which has resulted in fewer sales.

§  Or, we simply want our marketing efforts to have a greater measurable impact on

sales and revenue.

OVERVIEW

How Most Companies Address these Problems

Tool or Strategy Du Jour §  Marketing Automation §  Content Marketing and Blogging §  Social Media Marketing §  Twitter, Facebook, etc. One-Off Marketing Campaigns §  Product specials or discounts §  “Look how great we are” white papers or videos §  “Pray and Spray” – One-off campaigns

OVERVIEW

Why One-Off Fixes Tend to Fail

§  The one-off fix is usually based on “what we think we know” about our prospects, and rarely based on first-hand knowledge.

§  Thus, one-off fixes usually emphasize product features instead of directly

addressing the prospect’s actual concerns. §  Unless you address the root concerns of your prospect, any fix is

temporary at best and at worse results in a systemic problem that can crush your company.

OVERVIEW

A Systematic Solution

The remainder of this overview will introduce you to a

systematic approach to marketing that, like a checklist for

surgeons or airline pilots, ensures that your messaging and

entire marketing approach results in the best possible and most

consistent outcome.

GETTING TO SYSTEMATIC SUCCESS

To achieve the greatest success, we’ve learned that we have to:

1.  Understand WHAT specific pains, problems, concerns, fears, desires and needs our prospects currently face.

2.  Understand WHY he/she ultimately buys.

3.  Understand exactly HOW he/she goes about researching, evaluating, justifying, and making the final purchase decision.

GETTING TO SYSTEMATIC SUCCESS

#1 WHAT

What, in the exact words of your ideal prospect, is the key pain, worry, fear, desire or need that your product uniquely solves? §  How does this pain, fear or desire usually manifest?

§  What are the tell-tale signs that the pain exists?

§  What words does your ideal prospect use to describe the pain or need?

GETTING TO SYSTEMATIC SUCCESS

#1 WHY

Assuming his pain (desire) is strong enough to warrant his interest, WHY does he ultimately decide to buy? §  What tips him over the edge from “interested” to “need to have”?

§  What motivates him to spend time evaluating or researching solutions?

§  What doubts, fears, or other stumbling blocks might make him give up?

GETTING TO SYSTEMATIC SUCCESS

#1 HOW

How does he actually go about researching, evaluating, comparing options, and justifying a buy decision? §  What information, ideas, or suggestions initially pique his interest?

§  What data or information does he need to commit his time and energy to

further investigation?

§  How will he best compare available options?

OVERARCHING APPROACH

1.  Understand WHAT, WHY and HOW your prospect buys in

his or her words. 2.  Make it as EASY and SIMPLE as possible for them to feel

satisfied that choosing you is the best option. 3.  Offer information, tools, and assistance that satisfies his

needs at each stage of the buying process.

THE BUYING PROCESS

§  Every prospect or lead is at some stage in the buying process §  The information they need/want at each stage is different §  If they don’t get what they need, they’ll stall or go elsewhere §  Information not tied to their buying process stage is considered irrelevant

Status Quo

Commit to Change

Explore Options

Commit to a Solution

Justify Decision

Make the Decision

SYSTEMATIZING THE PROCESS

§  22 total steps in the process. §  All steps are evaluated, but may be skipped if unnecessary. §  Run through completely for one product or service, and then

duplicate for similar products or services. §  Entire process runs through five phases.

SYSTEM PHASES

RESEARCH - understand and articulate WHAT, WHY, HOW of prospects. DESIGN - how you will get new leads and how you will convert those leads. BUILD - inbound, outbound and automated nurture system. DEPLOY - system intelligently with an eye toward continuous improvement. OPTIMIZE - continuous improvement and optimization.

22 STEP SYSTEM - OVERVIEW

Product Selection

1 Use Case

Identification & Selection

2 Business Case & Project Approval

3 Key Player Mapping & Personas

4 Buying Process VoC Research

5 Sales &

Marketing Alignment

6

Value Proposition Development

7 Design Lead Nurture Plan

8 Inbound & Outbound

Marketing Plans

9 Lead Scoring

Model

10 Progressive

Profiling Model

11 Present Plan to Stakeholders

12

Marketing Automation Flow

Logic

13 Marketing

Automation System Build

14 Define KPI

Metrics to Track

15 Modify/Build

Content Assets

16 Build Inbound/

Outbound Emails

17 Build Lead

Nurture Emails

18

Build Landing Pages

19 System

Validation & Testing

20

Deployment

21

Optimization

22

INPUTS PROCESS STEPS OUTPUTS §  Management Meetings §  Stakeholder Meetings Step 1 – Select the Right Product/Service Solid foundation for success. Selecting the wrong product can be a

wasted effort.

“What pains, problems, dreams or desires are resolved by this product? Step 2 – Identify Primary Use Cases

Prioritized list of pain points that drive product sales. T his list helps to identify the best clients (and prospects) to interview for VoC research.

§  Product Sales History §  Website Data §  Conversion History §  Sales Goals

Step 3 – Business Case Construction Spreadsheet that shows the number of new leads and conversions that must be created to meet product sales goals, and a determination of the probability of success.

§  Prioritized List of Job Titles §  Persona based on Title/Role §  Map Role to Title

Step 4 – Key Player Mapping & Personas Prioritized list of key players by title and their identifying traits, beliefs, and habits, is used in VoC research, messaging, and outbound marketing data segmentation.

§  Identify the Best Interviewees §  Detailed Interview Questions §  Scheduled Interviews of Internal People

and Customers

Step 5 – Voice of Customer Research We produce full transcripts, and then summarize the key findings, including specific content we can use to move prospects through the buying process. We identify THEIR needs in THEIR words.

§  Output from all previous steps Step 6 – Sales & Marketing Alignment We have everyone aligned and have written approval from key stakeholders. Buy-in from Sales is critical.

22 STEP SYSTEM – PHASE 1: RESEARCH

22 STEP SYSTEM – PHASE 2: DESIGN

INPUTS PROCESS STEPS OUTPUTS §  VoC Research Data & Summaries §  Use Case Definitions §  Key Players/Persona Details §  Competitive & Product Research

Step 7 – Value Proposition Development The value proposition consists of a ‘big idea’ that is fully supporte by specific and proven claims of value. This becomes the basis for all future messaging.

§  VoC Research Data & Summaries §  Use Case Definitions §  Key Players/Persona Details §  Value Proposition/Claims of Value

Step 8 – Design Lead Nurture Sequence Identify the ‘offers’ (content) necessary at each stage of the buying process to create/continue forward movement, and the messaging required at each stage.

§  VoC Research Data & Summaries §  Use Case Definitions §  Key Players/Persona Details §  Value Proposition/Claims of Value §  Lead Nurture Offers & Messaging

Step 9 – Design Inbound & Outbound Plans Detailed plan outlining how to get new leads, allowing for entry at different stages of the buying process using relevant offers specific to each buying process stage. Includes recommended changes/additions to existing website.

§  Key Players/Persona Details §  Lead Nurture Sequence Plan §  Inbound & Outbound Plans

Step 10 – Design Lead Scoring Model Model that assigns point values to specific behaviors (clicks, downloads, views, etc.) related to buying process stages. Align scoring model & sales pipeline for sales enablement.

§  Key Players/Persona Details §  Lead Nurture Sequence Plan §  Inbound & Outbound Plans §  Lead Scoring Model

Step 11 – Design Progressive Profiling Plan Add additional details to the inbound/outbound plans and nurture flow to progressively ask for and use personal details about the prospect. This enables more relevant content delivery through each stage.

§  Output from all previous steps Step 12 – Present Plans to Stakeholders We have everyone aligned and have written approval from key stakeholders. Buy-in from Sales is critical.

INPUTS PROCESS STEPS OUTPUTS §  Inbound/Outbound Plans §  Lead Nurture Plan §  List of All Content & Offers

Step 13 – Build Marketing Automation Logic Enable easy implementation by specifying conditional logic and ‘triggers’ specific to the chosen marketing automation platform.

§  Inbound/Outbound Plans §  Lead Nurture Plan §  List of All Content & Offers §  Marketing Automation Logic Flow

Step 14 – Build Marketing Automation System Add the outbound, inbound and nurture programs to the MA system, including lead scoring and progressive profiling.

§  Inbound/Outbound Plans §  Lead Nurture Plan §  Business & Revenue Goals §  Historical Performance Indicators

Step 15 – Define KPI & Optimization Metrics A detailed list of all key optimization and performance indicators that are tracked by the MA system.

§  Inbound/Outbound Plans §  Lead Nuture Plan §  Value Proposition (claims/big idea) §  Content Plan

Step 16 – Build/Modify Primary Assets Content creation – videos, infographics, white papers, case studies, data sheets, and other content required for the buying process and to prove claims of value.

§  Inbound/Outbound Plans §  Value Proposition (claims/big idea) §  VoC Research

Step 17 – Create Inbound/Outbound Emails Fully utilize value proposition, claims of value, VoC and key offers to entice new prospects into the appropriate stage in the buying process.

§  Lead Nurture Plan §  Value Proposition (claims/big idea) §  VoC Research

Step 18 – Create Lead Nurture Emails Maintain use of value proposition and VoC as we move more prospects through the buying process.

§  Inbound/Outbound & Nurture Plans §  Value Proposition (claims/big idea) §  VoC Research

Step 19 – Create Landing Pages Focus on the big idea and primary claims of value to enable optimum engagement with the landing pages.

22 STEP SYSTEM – PHASE 3: BUILD

INPUTS PROCESS STEPS OUTPUTS §  Marketing Automation Logic Flow §  Inbound & Outbound Plans §  Lead Nurture Plan §  Lead Scoring Plan §  Progressive Profiling Plan

Step 20 – System Validation & Testing Lead nurture logic can get complicated. We need to thoroughly test all links, landing pages and the logic flow prior to deployment of the system.

§  Marketing Automation Logic Flow §  Inbound & Outbound Plans §  Lead Nurture Plan §  Lead Scoring Plan §  Progressive Profiling Plan

Step 21 – Deploy the System (gradually) By testing different offers and value claims, we can better identify the offers best suited for inbound marketing (on web pages and in future content development).

22 STEP SYSTEM – PHASE 4: DEPLOY

INPUTS PROCESS STEPS OUTPUTS §  KPI Reports §  Weekly Optimization/Data Reports §  Weekly Root Cause Analysis §  Weekly Countermeasure Report

Step 22 – Optimization Optimization reports typically include a higher level description of the problem (i.e. how we’re not meeting goals), a root cause analysis, one or more hypotheses, and a set of actions or countermeasures to take in the next period.

22 STEP SYSTEM – PHASE 5: OPTIMIZE

RISK DRIVERS & KSFs

1.  Product Selection

2.  Market Segment

3.  Value Proposition Quality

4.  Optimization

5.  Scrutiny Level

6.  Key Player Roles

7.  Understanding Buying Process

8.  Outbound Marketing (PPC, email)

9.  Inbound Marketing (SEO, web)

10.  Nurture Design

11.  Sufficient Data

12.  Ideal Client

13.  Research Quality

14.  Content Quality & Quantity

15.  CRM System

16.  Marketing Automation Platform

17.  Use Case Definition

18.  Research Analysis

19.  Aligned Website

20. Sales & Marketing Alignment

TIMEFRAME REQUIRED

How Long Will This Take?

§  Minimum 90 days to build content and 90 days to optimize. §  First time through the process takes longer.

§  Can duplicate and re-use content for similar products/services.

§  Research generally moves faster with each iteration.

WHO IS INVOLVED

Who May Get Involved?

Consistent stakeholder engagement and commitment is critical to success:

§  CEO to sign off on business case & charter

§  Marketing Leadership

§  Sales Leadership

§  Marcom

§  Product Management & Engineering

§  Marketing Operations

§  Outside Agency (to apply branding)

§  Copywriters & Graphic Designers

§  Video Production (if necessary)

§  Outside Sales & Inside Sales

§  Customer Service

§  Accounting & Legal

WHY THIS WORKS

Why Does the System Consistently Get Results?

§  The product or service is more relevant to the buyer because:

ü  Their questions are different at various stages of the buying process – and we take that into account

ü  Messaging goes beyond “why this product?” to “why take the next step in the buying process?”

ü  It allows corporate buyers to make a safe and defensible decision to buy.

§  It provides data to support problem solving and optimization §  It allows you to tell when a lead is sales-ready and ready for transfer to Sales §  It is somewhat difficult for some competitors to mimic successfully

NEXT STEP

How Do We Move Forward With This Process?

§  Picking the right product in your next step.

§  Select first program with reputation in mind. §  Subsequent programs come on line faster and tend to be progressively more

productive.