3 Building Blocks for Demand Generation

Transcription

1 Demand Gen Coach 3 Building Blocks for Demand Generation Presented by Jay Hidalgo, Demand Gen Coach November 14, 2013

2 Agenda About Demand Gen Coach The State of Demand Generation Today Overview of the Demand Gen Process and Framework 3 Building Blocks for Demand Generation Questions The Barzel Group 2013

3 About Demand Gen Coach Jay Hidalgo Is President Of The Barzel Group, Creator Of Demand Gen Coach. 20 Years Helping Enterprise, Midmarket And Small Companies Develop Demand Gen Programs. Clients Include Herman Miller, Ariba, NCR, Rubbermaid, X-rite And Pitney Bowes, Among Others. The Barzel Group 2013

4 The State of Demand Generation Today

5 Marketers Are Still Struggling To Generate Leads More than two thirds (68%) of companies report struggling with lead generation. Source: Source: Lattice Engines/CSO Insights The Barzel Group 2013

6 The Buyer Doesn t Need Us 90% of business buyers say when they re ready to buy, they ll find you. Source: Demand Gen Report The Barzel Group 2013

7 The Buyer Doesn t Need Us Although it varies greatly with product complexity and market maturity, today s buyers might be anywhere from two-thirds to 90% of the way through their journey before they reach out to the vendor. Source: Forrester (L. Wizdo) The Barzel Group 2013

8 We Don t Know The Buyer "Half of the marketers create and use content that educates buyers on their issues and problems, but only 14% align compelling content with buyer journeys in a way that tells a story." Source: Forrester (J. Ernst), The State Of B2B Demand Generation: Disjointed The Barzel Group 2013

9 We Don t Know What The Buyer Wants 86% of the 'unique benefits' 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, The Barzel Group 2013

10 As A Result 79% of marketing leads never convert into sales.(source: MarketingSherpa) 61% of B2B marketers send all leads directly to Sales; however, only 27% of those leads will be qualified. (Source: MarketingSherpa) 90% of marketing deliverables are not used by sales. (Source: The New Rules of Sales Enablement) The Barzel Group 2013

11 And Yet Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate. (Source: CSO Insights) 46% of marketers with mature lead management processes have sales teams that follow up on more than 75% of marketing-generated leads. (Source: Forrester Research) Companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost. (Source: Forrester Research) Companies with better than average demand generation process experience a 416% increase in closed deals over companies with little to no process(source: SiriusDecisions) The Barzel Group 2013

12 Here s The Difference Leaders aligned nurture campaign content with buyer persona and buy cycle stage more than twice as often as laggard organizations. As a result of this the best-inclass firms also averaged a 20% lower average nurture cycle period and 48% higher nurture campaign leads. Source: The Best Practices of the Best Marketers, CRMsearch, and Vantive Media Copyright 2012 The Annuitas Group

13 The Demand Generation Process

14 The Framework The Buyer

15 Start with Knowing the Buyer Buyer Persona What Is A Buyer Persona? A Short Bio Of The Typical Customer Person Description Includes Information On Buyer s Background Daily Activities/Behavior Current Solutions To Problem What s Important To This Buyer

16 Sample Persona Source: Hubspot, Warehouse 1 The Barzel Group 2013

17 Buyer Persona Matrix - Example Manager Director/Sr. Director Vice - President CxO Buyer Background Daily Activity Challenges Solutions to Challenges Compelling Event

18 Knowing the Buying Process The Steps The Buyer Goes Through From Need Identification To Post Purchase From THEIR View, Not Yours Should Be Customized, Not Vanilla Provides A Framework For Providing The Right Message At The Right Time

19 Building the Buying Process Whiteboard the Hypothetical Buying Process Test Initial Hypotheses with Internal and External Marketing Research Validate With Stakeholders (Prospects, Customers, Sales, Marketing) Catalyst Change Business Impact True Needs Assessment Recommended Solution Engagement Acquisition Financial Constraints New Competitor Having engaged with buyer on specific catalyst issue that is driving consideration for changing, the follow up is to highlight the larger impact at a business level Based on business impact assessment, the next step is to help the buyer get to a sense of organization s true needs What is the right solution for the buyer s needs? This next step validates those needs Finally, these needs are mapped to product offering in this area, vendor contact begins The Barzel Group 2013

20 Why is the Buyer Persona & Buying Process Important? They Are The Basis For Database Segmentation They Are The Basis For Lead Qualification They Are The Basis For Developing Content

21 Database Structure copyright The Barzel Group 2013

22 Lead Qualification Example Lead Qualification Rules for Routing and Criteria The following criteria/rules will be captured (as much as is feasible) on all Responses and Leads. Rules Responses will become Marketing Qualified when 1.The response is a product download (behavior) 2.The response requests a contact from sales (behavior) 3.The response is an registrant or attendee from a product oriented webinar (behavior) 4.The response registered for or attended a seminar (behavior) 5.Have 11 or more technicians (background) Criteria The following criteria will be built into the Lead Management process, and will be captured from Responses and Leads: Budget (background) Approved? Not Approved? Need Help Developing a Budget Unknown, Too early to determine Industry (demographic) Number of Help Desk Staff (background) Initial Product Interest (Current Solution to Problem) Product A Product B Product C Product D Product E Product F copyright The Barzel Group 2013

23 Build Content Buyer Persona/ Buying Cycle Stage Gain Permission Overcome Objections Support Decisions Economic Whitepaper A ROI/CTO Calculators Proposal ROI/TCO Calculators Technical Brochure Whitepaper B Webinar Free Trial Test Drive Help Files Documentation Case Studies Testimonials Influencer Success Stories Newsletter ROI/CTO Calculators References and Endorsements Executive Whitepaper A ROI/CTO Calculators Proposal References and Endorsements copyright The Barzel Group 2013 The Barzel Group 2013

24 Build a Content Plan Content Is Information That Is Of Value To Visitor/Prospect/Customer. Often, They Are Willing To Exchange Their Contact Details To Access It Different Content Will Be More/Less Effective Depending On The Buyers Relationship With The Company, And Their Place In The Buying Journey Content Can Be Delivered Across Multiple Channels: Web Social Media Mobile Call Center Offline: Direct Mail, Advertising, Events

25 Keys to Building Content Plan Engaging With And Building A Relationship With A Prospects And Customers Providing Relevant And Timely Information Based On Their Needs, Not Yours Content Can/Should Be Repurposed For Different Campaigns And Channels (Rule Of 4) Offers Should Be Developed For A Specific Persona(s) Will Aide In A Greater Velocity In Deals Through The Pipeline Marketing and Sales Should Collaborate The Barzel Group 2013

26 Content Matrix Model Source: Tom Pisello, Content Marketing Institute

27 Content Blueprint Buyer Persona/ Buying Stage Stage 1 Stage2 Stage 3 Stage 4 Stage 5 Persona Persona Persona Persona

28 Takeaways The Difference Between Best-In Class Companies and Laggards is the implementation of the 3 Building Blocks Buyer Personas Buyer Process Content Plan Develop these 3 Collaboratively with Sales Roll Out Demand Generation Programs and Process AFTER these are established. The Barzel Group 2013

29 Questions? The Barzel Group 2013

30 Contact Information Jay Hidalgo Demand Gen Coach Phone: LinkedIn:linkedin.com/in/ jayhidalgo The Barzel Group 2013