Webinar and Marketing Technology Purchase Decision Analysis Prepared for ON24

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1 Webinar and Marketing Technology Purchase Decision Analysis Prepared for ON24 December

2 Table of Contents Introduction and Methodology.. P 3 Executive Summary and Key Findings.. P 6 Marketer Characteristics.. P 9 Marketing Technology.. P 15 Use of Webinar Software.. P 23 Demographics.. P 41 2

3 Introduction and Methodology In December 2015, Hanover Research designed and administered a survey on behalf of ON24, with the goal to understand ON24 s target users opinions regarding marketing technology platforms and webinar software. Specifically, ON24 is interested in the criteria and sources that marketers use to evaluate marketing technology and webinar solutions. In addition, users were asked about the key issues they face when searching for, learning how to use, and integrating marketing technology and webinar solutions. After data cleaning, Hanover Research analyzed 367 complete responses from ON24 target users. The following report presents aggregate and segmented results. Segmented results are presented when statistically significant differences between segments exist at the 95% confidence level. Statistically significant differences between segments are noted with an asterisk next to the corresponding data labels. 3

4 Introduction and Methodology Segmentation Definitions Level of Involvement 1 ( Which of the following best describes your level of involvement within your organization in the decision-making process for marketing technology software? ) 1. Sole decision-maker (N=24) I am the sole decision-maker 2. Involved in selecting and deciding (N=224) I am involved in both the selection process and in the final decision 3. Involved in selecting (N=119) I am involved in the selection process, but do not make the final decision Level of Integration ( Thinking about your overall marketing technology suite, how well integrated are these platforms into your business processes? ) 1. Not at all / slightly integrated (N=147) Not at all integrated or Slightly integrated 2. Somewhat integrated (N=143) Somewhat integrated 3. Mostly / fully integrated (N=77) Mostly integrated or Fully integrated Webinar Preference ( If you had to select one or the other, would you prefer ) 1. Higher cost, full-service (N=84) A higher cost, full-service webinar software. 2. Lower cost, DIY (N=82) A lower cost, DIY webinar software. 1. Members who are uninvolved in the selection process were disqualified from the survey. 4

5 Introduction and Methodology Segmentation Definitions Frequency of Use ( How often does your company conduct webinars as part of your marketing initiatives? ) 1. Less than once per month (N=63) Less than once every 6 months or Once every 4-6 months or Once every 2-3 months 2. Once per month (N=32) Once a month 3. More than once per month (N=71) 2-3 times a month or Weekly or Daily Length of Use ( How long have you used your current webinar solution? ) 1. 2 years or less (N=88) Less than a year or 1-2 years 2. 3 years or more (N=78) 3-4 years or 5 or more years Level of Webinar Integration ( How well integrated is your webinar software into your business processes? ) 1. Not at all integrated (N=65) Not at all - we only use it to deliver content. 2. Slightly integrated (N=51) Slightly integrated - we use analytical data from the software to evaluate and update online content. 3. Somewhat / fully integrated (N=50) Somewhat integrated - the software works well with most of the other marketing software we use or Fully integrated - the software works well with all of the other marketing software we use. 5

6 Executive Summary Many marketers feel overwhelmed with the number of marketing technology platforms on the market today. While they see value in ensuring technology solutions are integrated into their marketing function, more would rather learn how to utilize the platform they already have versus purchase a new one [that might better meet their needs]. Marketers are looking for a reliable, easy to use marketing technology platform that can help them demonstrate its ROI within the company. Marketers equally prefer both a higher cost, full-service webinar platform and a more affordable DIY solution. Marketers tend to focus on the benefits specialized webinar platforms can bring to attendees, such as easy access and providing an engaging experience. 6

7 Key Findings Marketing Technology Platforms Marketing technology platforms tend to be selected by multiple individuals within a company. Just 7% of marketers are their company s sole platform decision-maker. Almost half of the sole decision-makers are Chief Marketing Officers. The majority of marketers see the value in integrating marketing technology into their team s work. However, over half of marketers are more concerned with utilizing their current platforms rather than finding new marketing technologies. Almost half of marketers feel overwhelmed by the number of marketing technology platforms in the marketplace. Reliability, ease of use, and return on investment are the primary attributes marketers look for when selecting a marketing technology platform. Marketers are less likely to consider platforms with a high level of sophistication when deciding which marketing technology platforms is right for their company. Benefits to the attendees, such as easy access and providing an engaging experience, are the top benefits marketers find for using specialized webinar software. The ability to identify leads is considered more of a benefit to marketers who prefer a full-service webinar solution compared to those who prefer a DIY solution. Webinar solutions are the third most common type of marketing technology platform, and are used by 45% of marketers. CRM solutions are the most common marketing technology platform, followed by web conferencing. 7

8 Key Findings Webinar Software Many marketers feel that their needs are being met by their current webinar software provider. Four out of ten marketers cannot identify any improvements that would increase satisfaction with their current provider. Few marketers (only 7%) describe their current webinar solution as fully integrated into their business. Among those whose webinar solution is not integrated, 2 consider integration too complex. When implementing webinar software marketers are most likely to worry most about measuring marketing program impact. Return on investment is also one of the most common attributes marketers look for when selecting a marketing technology platform. Marketers tend to conduct webinars primarily in order to demonstrate thought leadership and connect with new leads. Marketers with highly integrated marketing platforms are most likely to use webinars to find sales-ready leads. Over half of marketers who conduct webinars hold them relatively frequently (between once every 2-3 months to 2-3 times a month). Marketers who conduct webinars more than once per month are most likely to value a scalable marketing technology platforms. 8

9 MARKETER CHARACTERISTICS 9

10 Involvement in Marketing Technology Selection Only 7% of marketers are the sole decision-maker for which marketing technology software their company uses. 10 Importance of Marketing Technology Platform Attributes % 4 32% 2 7% I am the sole decision-maker I am involved in both the selection process and in the final decision I am involved in the selection process, but do not make the final decision Which of the following best describes your level of involvement within your organization in the decision-making process related to marketing technology software? N=367 Note: Respondents who are not involved in the selection or decision process were disqualified from the survey. 10

11 Tenure Almost half of marketers have been in their current industry for more than 10 years. Marketers are split between those who have been in their current organization for 5 years or fewer (56%) and those who have been there for 6 years or more (4). Time in Industry Time in Current Organization % % 2 19% 25% 1% Less than 1 year 1 to 5 years 6 to 10 years More than 10 years 2% Less than 1 year 1 to 5 years 6 to 10 years More than 10 years How long have you worked in your current industry? N= 367 How long have you worked for your current organization? N=

12 Webinar Preference Differs by Time in Current Industry Marketers who have spent 1 to 5 years in their current industry are significantly more likely to prefer a higher cost, full-service webinar software than a lower cost, DIY webinar software. Time in Current Industry, by Webinar Preference Higher cost, full-service (N=84) Lower cost, DIY (N=82) % 4 39%* 45% 2 2* 1 2 1% 1% Less than 1 year 1 to 5 years 6 to 10 years More than 10 years How long have you worked in your current industry? 12

13 Roles Within Marketing Nearly one-third of responding marketers are either digital marketers or Chief Marketing Officers. Of the 11% of respondents who have some other marketing role, being in market research or multiple roles are the most commonly mentioned positions. Digital marketing / website Chief Marketing Officer (CMO) Marketing operations Marketing Role % Corporate marketing 12% Product marketing 9% "Other" Marketing Role 1 Number of Mentions Public relations Content marketing 8% 8% Market Research / Insights 9 Multiple roles 9 Events Marketing 5 Marketing manager 5 Brand manager Demand generation Loyalty/CRM Affiliate marketing 5% 1% 1% VP 2 Other 11% Which of the following best describes your role within the Marketing department? N= Written-in Other responses are shown for 5 most mentioned marketing positions. 13

14 Level of Involvement Differs by Marketing Role Almost half of those who make the sole decision for their company s marketing technology platform are Chief Marketing Officers. Chief Marketing Officer (CMO) Corporate marketing Affiliate marketing Content marketing Marketing operations Digital marketing / website Demand generation Product marketing 2%* 3%* 3% 3% 2%* 5%* Marketing Role, by Involvement Sole decision-maker (N=24) Involved in selecting and deciding (N=224) Involved in selecting (N=119) Public relations Loyalty/CRM Brand manager Other 8%* 9% 17%* 1* 17% 11% 13% 11% 1 13%* 12% 13% % 18% Which of the following best describes your role within the Marketing department? 14 46%*

15 MARKETING TECHNOLOGY 15

16 Types of Marketing Technology Platforms Nearly two-thirds of marketers use CRM solutions at their current company. Webinars are the third most common marketing technology platform in use at marketers organizations. Types of Marketing Technology Platforms Used % 45% 4 38% 35% 33% 2 9% CRM solutions Web conferencing Webinar Marketing automation Digital Asset Management Video advertising Other Which of the following marketing technology platforms do you or your organization currently use? N=367 16

17 Types of Marketing Technology Platforms Differ by Webinar Frequency Marketers whose organizations conduct webinars more than once per month are significantly more likely to use web conferencing platforms than those who conduct webinars less than once per month. Types of Marketing Technology Platforms Used, by Webinar Frequency More than once per month (N=71) Once per month (N=32) Less than once per month (N=63) 88% 82%* 78% 7 68% 62%* 55% 53% 5 47% 4 38% 31% 32% 29% 2 3% 6% Webinar Web conferencing Marketing automation CRM solutions Video advertising Digital Asset Management Other Which of the following marketing technology platforms do you or your organization currently use? 17

18 Importance of Marketing Technology Attributes When selecting a marketing technology platform, marketers are most likely to look for a solution that is reliable, easy to use, and can demonstrate return on investment. Importance of Marketing Technology Platform Attributes Extremely important Very important Moderately important Slightly important Not at all important Software performance reliability 49% 41% 8% Easy to use 45% 43% 1 Return on investment (ROI) 47% 4 1 Product cost 35% 41% 22% Provides advanced analytics 28% 45% 21% Superior IT support 23% 47% 25% 6% Ease of access (e.g., no downloads) 25% 4 26% Scalability within your organization 19% 47% 2 9% Mobile access 28% 31% 27% 1 Customization of user interface 16% 43% 28% 11% Integration with third-party software 2 38% 32% 8% Branding user interface with company logo and colors 23% 3 25% 13% 8% High level of sophistication 11% 33% 42% 12% How important are each of the following considerations to you when selecting marketing technology platforms? N=367 18

19 Importance of Scalability Differs by Webinar Frequency Marketers who conduct webinars more than once per month are the most likely to value scalable marketing technology platforms. Webinar Frequency, by Importance of Scalability Extremely important Very important Moderately important Slightly important Not at all important More than once per month (n=71) 15% 62%* 15%* 7% Once per month (n=32) 22% 28%* 41%* 9% Less than once per month (n=63) 1 49%* 27% 6% How important are each of the following considerations to you when selecting marketing technology platforms? Scalability Within Your Organization 19

20 Reasons for Selecting Marketing Platform Marketers look for the best value (6) when deciding which marketing technology platform to use. Reasons for Selecting a Marketing Technology Platform Best value 6 Easiest to use 49% Highest ratings Recommended by a colleague 3 36% Most features 26% A popular platform on the market Best look and feel 2 19% Lowest cost Provided by a company we already use 1 13% Newest technology on the market 7% Which of the following best describe the reason(s) you decide to purchase a marketing technology platform? Please select up to 3 influences. N=367 20

21 Time Investment in Marketing Platforms Nearly half (43%) of marketers research their options for 4 months or more prior to deciding to purchase a marketing technology platform. Approval and implementation of marketing platforms most commonly takes between 1 and 6 months (72% of marketers). Time Spent Researching Options Time Required for Approval and Implementation % 43% 4 31% 4 29% 2 8% 12% 2 11% 13% 3% Less than a month 1 to 3 months 4 to 6 months 7 months or more Less than a month 1 to 3 months 4 to 6 months 7 to 12 months More than a year How much time do you generally spend researching your options when deciding to purchase a marketing technology platform? N=367 Once you have selected your preferred software solution, what is the timeframe it takes to have the purchase approved AND ready to implement at your organization? N=367 21

22 Attitudes Towards Marketing Technology Platforms The majority of marketers see the value in integrating marketing technology into their team s work. Over half of marketers are concerned about the lack of integration of marketing technology into their businesses. Almost half of marketers feel overwhelmed by the number of marketing technology platforms in the marketplace. Attitudes Towards Marketing Technology Platforms Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree I see the value in integrating marketing technology platforms into my team s work. 22% 61% 15% I push to improve how my organization approaches using technology in our marketing initiatives. 18% 61% 17% I am more concerned with how to best utilize our current marketing technology platforms than finding new solutions. 1 45% 28% 16% I am concerned about the lack of integration of marketing technology into our business. 11% 4 29% 17% I feel overwhelmed by the number of marketing technology platforms available in the marketplace. 1 37% 35% 17% I feel marketing technology platforms are too complicated. 23% 45% 23% I do not believe marketing technology platforms produce meaningful results for businesses. 8% 27% 42% 21% How much do you agree or disagree with each of the following statements? N=367 22

23 USE OF WEBINAR SOFTWARE 23

24 Uses of Webinar Software Marketers most commonly use webinar software for training (82%) and marketing (72%) purposes. Uses of Webinar Software % 72% 6 57% 4 2 Training Marketing Internal communications Other 3% For which of the following does your company use webinar software? Please select all that apply. N=166 Note: Marketers who do not have input in the selection process were disqualified from the survey. 24

25 Webinar Product Usage Marketers are most likely to value the ease of use of their webinar solution. Recording/sharing capabilities is the second most important attribute. Technical features, such as customization, branding, and mobile support, are less likely to be among the most important webinar attributes. Recording/sharing capabilities Audience can ask questions Large simultaneous user capacity Speaker can poll the audience Integrated with other marketing software Identification of sales-ready leads Individual user interface customization for attendees Integrated billing and payment processing Most Important Webinar Features Ease of use Registration for attendees Product cost Q&A features Mobile device support Cloud based Meeting room rebranding Console customization Break-out rooms Other None of the above 2% 3% 1% 13% 11% 1 19% 27% 26% 2 32% 31% 42% % 66% Which of the following features are most important to you when selecting a webinar solution? Please select up to five features. N=166 25

26 Areas in which Webinar Provider is Lacking Ease of use, the most important webinar feature, is also the third most common area in which webinar products are lacking. Almost half of marketers do not think their webinar provider is lacking in any areas. Areas in which Current Webinar Provider is Lacking Provides advanced analytics Level of sophistication Easy to use for attendees Provides detailed reports on user behavior Customization of user interface Mobile Access Software performance reliability Easy to use for presenters Branding user interface with company logo and colors Integration with third-party software Return on Investment (ROI) IT support Scalability within your organization Value Other None of the above 3% % 12% 11% 11% % 9% 7% 19% 46% Is your current webinar provider lacking in any of the following areas? Please select all that apply. N=166 26

27 Areas that would Increase Webinar Satisfaction Marketers would like their webinar software to be easier for attendees to use, as well as provide additional analytical capabilities (such as advanced analytics and reports on user behavior). Areas that would Increase Webinar Satisfaction Easy to use for attendees Provides advanced analytics 9% 9% Level of sophistication Provides detailed reports on user behavior Software performance reliability Return on Investment (ROI) Easy to use for presenters Customization of user interface Branding user interface with company logo and colors Mobile Access Scalability within your organization Value IT support Other 6% 2% 2% 1% 1% 2% None of the above 45% Assuming your webinar software could improve in one of the following areas, which of the following would most increase your satisfaction as a customer? N=166 27

28 Concerns of Integrating Webinars Marketers are most concerned with webinars ability to generate a large amount of correctly identified leads for their business. Few marketers consider IT or internal support major concerns for integrating webinars into their business. Concerns of Integrating Webinars into Business Major concern A slight concern Not a concern Using the reporting and analytics to correctly identify sales-ready leads 29% 4 31% Leveraging the solution to generate ROI within the company 28% 51% 22% Having one solution that addresses all webinar needs 28% 49% 23% Using the reporting and analytics to identify a large amount of leads 27% 4 33% Integrating the analytics from the software with other marketing software 23% 46% 31% Getting the necessary IT support to use the software 16% 45% 39% Convincing internal stakeholders of the value of webinars 12% 46% 42% What are the key concerns your company faces in learning how to use and integrate webinars into your business? N=166 28

29 Concern of Having One Solution Differ by Involvement Marketers with more authority over selecting a webinar solution tend to be more concerned with having a single solution that addresses all webinar needs. Concern of Having One Solution that Addresses Webinar Needs, by Involvement 10 Sole decision-maker Involved in selecting and deciding Involved in selecting % 6* 46% 4 2 9% % 3* 18%* Not a concern A slight concern Major concern What are the key concerns your company faces in learning how to use and integrate webinars into your business? Having one solution that addresses all webinar needs 29

30 Concern of Convincing Stakeholders of Webinar Value Differs by Level of Integration When marketing technology is less integrated into a business, marketers tend to be more concerned about having to convince internal stakeholders that webinars are valuable. Concern of Convincing Internal Stakeholders of Value of Webinars, by Integration 10 Not at all integrated (N=65) Slightly integrated (N=51) Somewhat / fully integrated (N=50) %* 52%* 46% 49% %* 25%* 2 Not a concern A slight concern Major concern * * What are the key concerns your company faces in learning how to use and integrate webinars into your business? Convincing internal stakeholders of the value of webinars 30

31 Preference for Webinar Software Preference for Webinar Software A lower cost, DIY webinar software 49% A higher cost, full-service webinar software 51% An equal number of marketers prefer either a higher cost, fullservice webinar software or a lower cost, DIY webinar software. If you had to select one or the other, would you prefer N=166 31

32 Sources for Selecting Webinar Software Marketers are most likely to rely on their own experiences (55%) and colleagues experiences (5) when selecting a webinar software to purchase versus online sources. Sources Used when Selecting Webinar Software Past experience with brand Recommendations from colleagues 55% 5 Company websites Internet searches Sales representatives Industry publications / white papers Marketing materials 27% 27% 23% 19% 16% Social Media 1 Other I do not consider additional resources when making these decisions 8% Which of these sources do you rely on most when decided to purchase a webinar software solution? Please select up to three top sources. N=166 32

33 Benefits of Using Webinar Software Marketers perceive the benefits to attendees (an engaging experience and easy access) as the primary benefits of using specialized webinar software. Benefits of Using Webinar Software Engaging audience experience 69% Easy access for attendees 67% Increasing ROI 46% Higher quality web content 43% Generating more business 39% Ability to identify high quality leads 35% Specialized technical support 19% Other 1% What are the primary benefits you see in using specialized webinar software? Please select all that apply. N=166 33

34 Benefits of Using Webinar Software Differ by Webinar Preference Customers who value a higher cost, full-service webinar software tend to perceive the ability to identify high quality leads as a benefit of using a webinar software. Sources Used when Selecting Webinar Software Higher cost, full-service (N=84) Lower cost, DIY (N=82) Engaging audience experience Easy access for attendees 67% 71% 67% 67% Increasing ROI 39% 5 Higher quality web content 38% 49% Ability to identify high quality leads 22%* 48%* Generating more business 4 37% Specialized technical support 15% 23% Other 1% What are the primary benefits you see in using specialized webinar software? Please select all that apply. 34

35 Goals When Conducting Webinars Two-thirds of marketers conduct webinars in order to demonstrate thought leadership. Marketers are more likely to conduct webinars to find new leads than to identify sales-ready leads. Goals when Conducting Webinars Thought leadership 63% Other Goals of Webinars Number of Mentions 1 Connecting with new leads Greater brand recognition 57% 5 Communication 5 Training / Internal Education 5 Product demonstrations 4 Identifying sales-ready leads 33% Other 8% Which of the following are key goals for your business when conducting web conferences? Please select all that apply. N= Written-in Other responses are shown for goals with more than one mention. 35

36 Goals When Conducting Webinars Differ by Implementation Marketers with highly integrated marketing platforms are most likely to seek sales-ready leads and thought leadership using webinars. 10 Goals When Conducting Webinars, by Integration Not at all / slightly integrated (N=56) Somewhat integrated (N=66) Mostly / fully integrated (N=44) % 7* 7* % 52% 53% 46% 38% 46% 4 41%* 41% 5* 23%* 2 7% 8% 11% Greater brand recognition Connecting with new leads Identifying salesready leads Product demonstrations Thought leadership Other Which of the following are key goals for your business when conducting webinars? Please select all that apply. N=166 36

37 Most Worrisome Part of Webinar Software Implementation When implementing webinar software one-fourth of marketers worry most about measuring marketing program impact. Most Worrisome Part of Webinar Software Implementation Ensuring we can measure the impact of marketing programs 25% Using the tool to generate quality leads 1 Ensuring the results are data driven 11% Creating new streams of revenue 1 Leveraging the tool as a competitive differentiator in the market 9% Using the tool to understand customers 8% Using the tool to retain current customers 7% Other None of the above 13% When you implement webinar software what part of the process is most worrisome for you? N=166 37

38 Time Using Webinar Solution Two-thirds of respondents have been using their current webinar solution for 1 to 4 years. 5 Length of Time Using Current Webinar Solution 4 37% 3 29% 2 16% 18% 1 Less than a year 1-2 years 3-4 years 5 or more years How long have you used your current webinar solution? N=166 38

39 Integration of Webinar Solution More than 9 of marketers do not have a fully integrated webinar solution. Among marketers with slightly or not at all integrated webinar software, one-third do not see the value of further integration. 5 Integration of Webinar Software Reasons for Lack of Integration 4 39% We do not see the value of further integration % 2 23% The software is not compatible 25% 1 Not at all - we only use it to deliver content Slightly integrated - we use analytical data from the software to evaluate and update online content Somewhat integrated - the software works well with most of the other marketing software we use 7% Fully integrated - the software works well with all of the other marketing software we use Integration is too complex 2 Other 21% How well integrated is your webinar software into your business processes? N=166 Why is your webinar software not well integrated with your other marketing software? N=114 39

40 Frequency of Webinars Almost two-thirds (59%) of marketers conduct webinars between once every 2-3 months to 2-3 times a month. 5 Frequency of Webinars % 16% 19% 1 1 6% Less than once every 6 Months Once every 4-6 Months Once every 2-3 Months Once a Month 2-3 Times a Month Weekly Daily How often does your company conduct webinars as part of your marketing initiatives? N=166 40

41 DEMOGRAPHICS 41

42 Industry Education Manufacturing Non-Profit Healthcare / Medical Finance / Banking / Insurance Retail Marketing / Market Research Computers (Hardware, Desktop Software) Telecommunications Business / Professional Services Media / Printing / Publishing Consulting Food Service Entertainment Aerospace / Aviation / Automotive Advertising Construction / Home Improvement Utilities Travel / Tourism Wholesale Transportation / Distribution Real Estate Pharmaceutical / Chemical Legal Internet Communications Engineering / Architecture Biotechnology Government / Military Other What industry is your company in? N=367 8% 8% 7% 5% 3% 3% 2% 2% 2% 2% 2% 2% 2% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 6% 1 12%

43 State of Residence In which state are you based? N=367 43

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