ema lift summit presentation: online conversations that accelerate buying process
DESCRIPTION
Leveraging Online Conversations to Accelerate Prospect Consideration Throughout the Buying Cycle •Aligning your objective to your prospects’ buying cycles •Enhancing online customer interaction and loyalty By: Dave Bulger, Partner, Director of Insight, Strategy and Planning EMATRANSCRIPT
Leveraging Online Conversations to Accelerate Prospect Consideration
throughout the Buying Cycle
Presented by:Dave Bulger, Eric Mower & Associates
Presentation Overview
• Theory• The Buying Cycle• Accelerating behavior change• Impact on insight, strategy, planning and creative for marketers
• Practice – PGi• Overview of business problem and solution objectives• Integrated marketing strategy• Putting theory into practice
Theory
It’s Not a Sales Cycle
(Aligning your objectives to your prospects’ Buying Cycles)
Total market:Average refresh:Average sales cycle:
60,0002 years60 days
Target Market
5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Time
5,000
Research Solution Selection
Approvals / Decision
Needs Assessment
Maintenance / Expansion
Target Market
5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Time
Research Solution Selection
Approvals / Decision
Needs Assessment
Maintenance / Expansion
5,000
Company A
Company B
Company C
Company D
Research Solution Selection
Approvals / Decision
Needs Assessment
Solution Selection
Approvals / Decision
Maintenance / Expansion
Needs Assessment Research Solution
SelectionApprovals /
Decision
Maintenance / Expansion
Maintenance / Expansion
Target Market
5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Time
5,000
Company A
Company B
Company C
Company D
It’s not about what you are selling.
It is about what they are buying.
People are creatures of habit – and habits can
be changed.
Awareness
Lead Generation
Engagement
Nurturing
Point of Sale
CRM
Accelerating behavior change
• Goal Theory
• Transtheoretical Model of Behavior Change
• Health Belief Model
• Theory of Reasoned Action/Planned Behavior
Goal Theory
“Do your best”
Proximal Goals
Goal Theory
1. Specific2. Measurable3. Achievable4. Realistic5. Time-Based
Transtheoretical Model (Stages of Change)
Maintenance
• Processes of Change• Decisional Balance• Self-Efficacy• Temptations
Relapse
Precontemplation Contemplation Preparation Action
Health Belief Model
Education +Motivations
÷Barriers
=
Recommended Action• Perceived Susceptibility• Perceived Severity• Cues to Action• Self-Efficacy
Theory of Reasoned Action/Planned Behavior
HD football is better...
I never have time for TV...
Behavioral Intention
Volitional Control
Subjective Norm
Attitudes(for and against)
Takeaways
• Goal Theory• SMART, proximal goals get you where you’re going faster
• Transtheoretical Model (Stages of Change)• People do predictable things en route to changing habits
• Health Belief Model• Motivations must outweigh barriers for successful change
• Theory of Reasoned Action/Planned Behavior• Behavioral intention = positive attitude + trusted advice +
perceived control
The Buying Cycle
(how we apply behavioral science to demand generation, engagement and nurturing)
Out of Market Learners Shoppers Buyers CustomersTargets who have either
recently purchased or currently have
no need, budget or interest.
Targets who are thinking
about making a purchase in the near future
but are still trying to
understand the solution landscape.
Targets who are getting
ready to make a purchase
and are looking for the best solution.
Targets who are ready to buy and are
actively comparing the
best alternatives.
Current users with re-sell, cross-sell or
up-sell potential.
Out of Market Learners Shoppers Buyers Customers
Precontemplation Contemplation Preparation Action Maintenance
Out of Market Learners Shoppers Buyers Customers
Precontemplation Contemplation Preparation Action Maintenance
Will PGi make life better for me? For my
team?
Do others I respect think
PGi is right for them?
Do I fully understand why
I should use PGi?
Is buying/using PGi something I can and want to
do?
Are my motivations for going with PGi stronger than my barriers?
No Sale No Sale No Sale No Sale No Sale
Practice
About PGi
• Global virtual meeting company• Founded in 1991• $650 million annual revenue• Customers include 90% of the Fortune 500
• Business model shift in 2009• Brought technology/infrastructure built for Fortune 500
companies to smaller companies • Augmented direct sales with marketing-driven structure• Scaling up SMB market penetration• Integrated demand generation and lead nurturing• Behavior change acceleration
Case study
• Business problem• Efficiently scale tools and processes to serve smaller companies• SMB market is less familiar with PGi• Provide incremental sales revenue• Decrease overall cost per acquisition
• Solution objectives• Set up systems and processes for selling and serving customers
for the long term• Generate demand for PGi meeting solutions• Increase number of prospect leads• Score and qualify sales-ready leads• Nurture non sales-ready leads
Demand Generation
• PGi.com• Online advertising• Co-registration and content syndication• Email• Search engine marketing• Social media• Online events (virtual trade shows, webinars)
Microsite/Landing Pages
• Lead scoring• Lead qualification
Nurture
Info Request/Opt-in
PGi Sales Engagement
Nurture-Qualified
Lead
800#Chat
Click to CallEmail
Activity“Sales Ready”
Lead
Non-”Sales Ready” Lead
Integrated marketing strategy
Key Metrics
• Demand generation interactions• Impressions, opens, clicks, etc.
• Landing page/microsite interactions and analytics• Chat interactions, form fills, visitation data, bounce rate, etc.
• Sales pipeline analysis• Conversions to leads, opportunities, wins, losses, sales cycle
evaluation, etc.
Contact Form
Smart Landing Page(tailored Learner/Shopper/Buyer content based on interactions)
LeadWorksEMA Campaign Management
System
Contact Form
Submits
EMA Campaign CodeRMKR DMIDEMA Source CodeEMA Anonymous Visitor ID + contact fields
Lead Object Fields per mapping document
NetSuite
Lead Object Fields per mapping document
EMA Campaign CodeRMKR DMIDEMA Source CodeEMA Anonymous Visitor ID
Email Nurturing System
3rd Party Pub Leads
Instant Services
Offer 1Banner AdOffer 2
Banner AdOffer 3Banner Ad
Offer 1 Email
Offer 2 Email
Offer 3 Email Tailored
Emails (learner)
Tailored Emails
(shopper)
Tailored Emails (buyer)
EMA Campaign CodeEMA Source Code
EMA Campaign CodeEMA Source Code EMA Campaign Code
RMKR DMIDEMA Source Code
EMA Campaign Code + contact fields
Technical integration
Demand generation strategy• Target general SMB and
specific horizontal audiences• IT• HR/Training• Sales/Marketing• Operations
• Employ integrated mix of online marketing tactics• Paid search, online banners, lead
programs, email, online events
• Cater to learners, shoppers and buyers• Through media vehicles• Mix of informational, trial and
promotional offers
Nurturing strategy• 12-part nurturing email
and microsite “story”
• Content specific to buying stage and personas
• “Learner » Shopper » Buyer” streaming algorithm• Assigns position within story• Calculates email cadence
• Based on 90-day sales cycle• Approx. one email per week• Includes acceleration triggers
• Sales hand-off at the appropriate time
Experience and next steps• Experience• Vast majority of new leads are not immediately “sales ready”• 97% of new nurture program prospects enter as Learners• Shoppers = 2.5%, Buyers = 0.5%
• Growth plans• Continue to optimize current lead nurturing program• Enhance the marketing mix to drive interactions at all stages of
the buying cycle• Leverage CRM structure for additional marketing needs• Customer campaigns• Opportunity nurturing• Product launches• Integration with PGi.com
Summary
Summary
• Most prospects are not ready to buy• Marcom systems need to have a notion of patience• Engagement + Nurturing
• Don’t sell – instead, help prospects buy• Behavioral science is your friend• Match messages to their consideration process, not your sales
cycle
• Be nimble• Measure everything; analyze continuously• Don’t be afraid to test and optimize early and often
Thanks!
Any questions?
@DaveBulger
davebulger.wordpress.com