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THE U.S. SUCCESS BENCHMARK IN:» B2B DIGITAL MARKETING» B2B LEAD GENERATION
» B2B CUSTOMER SATISFACTION SURVEYS
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ABOUT THIS RESEARCH
The Trend Report is a series of studies carried out by Sandberg Trygg. The aim is to understand what drives marketing communication in a global digitized society. In this issue, we focus particularly on the interests of B2B companies mainly in the coastal areas of the US. Interviews have been conducted with C-levels in sales and marketing functions.
Previous issues of the Trend Report:
2014/I: Which goals and communication tools are prioritized by B2B companies?
2014/II: The importance of the brand and the influence of consumer behaviour
2015: How to act online to meet a more digital-driven buying journey
2016: How B2B companies are succeeding with inbound marketing
2017: How B2B companies turn customers into active promoters
INTRODUCTION
Back in 2015 we saw that a renaissance in B2B marketing was underway. This was confirmed by Google in their report – The Changing Face of B2B Marketing* – which stated that B2B buyers were spending more time online and making an average of 12 searches prior to engaging with a vendor.
The importance of content in the right context became very clear in our Trend Report in 2015. 94% of top performers adapt their content to the buying journey.
In our 2016 Trend Report, we concluded that success comes when B2B companies meet with their potential customers on the customer’s third-party forums, expert blogs and social networks. Content on the customer’s own online turf is always relevant and engaging.
In this report, you can learn how successful B2B companies succeed with their Digital Marketing. What they do to successfully convert their prospects into qualified leads. And what they gain from customer satisfaction surveys.
Enjoy the read!
We hope you find this report valuable to both yourself and your business. Please don’t hesitate to contact us to find out more.
HENRIK DUBOIS CEO/Managing Partner [email protected]
JESPER ARENHILLCommercial Lead & Marketing [email protected]
B2B companies
CMOs or similar C-levels.
Cities
New York
Tampa
Washington
Atlanta
Dallas
Los Angeles
Las Vegas
Portland
San Francisco
Chicago
Houston
Philadelphia
Miami
Detroit
Pittsburgh
Seattle
San Diego
New Orleans
* The Changing Face of B2B Marketing. Kelsey Snyder, Pashmeena Hilal, March 2015.
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EXECUTIVE SUMMARY
Customers now spend more time online during the entire buying journey. They conduct research and comparisons to form a buying vision prior to deciding when and how to get in touch with potential vendors. Conventional sales methods have become obsolete forcing marketing and sales to transform – and align.
This study is a benchmark of B2B in the U.S. You will learn from both Top Performers and Low Performers how to devise an effective strategy to leverage the forefront of marketing and sales digitization to your benefit.
» The biggest current B2B marketing challenge is to generate qualified leads. «
DISCOVERY CONSIDERATION DECISION USE
STRANGER VISITOR LEAD CUSTOMER PROMOTER
BUYER’S PERSPECTIVE
SELLER’S PERSPECTIVE
Inspiration
Attract Convert Engage Delight
Trust Conviction Satisfaction
I M P A C T O F S A L E S
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KEY FINDINGS
» Top Performers focus on the early marketing phase «
» Top Performers use valuable content on specific landing pages with colorful call-to-actions «
» Top Performers are a first, continuous and reliable source of insights. Combine that with a helping and supportive approach and you have the recipe for success. «
» Top Performers use the Net Promoter Score method to be successful in the very important Delight phase «
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TOP MARKETINGPRIORITIES
Hubspot’s State of Inbound 2017 marketing report shows that growing traffic to the website is a top priority as well as converting that traffic further down the funnel.
The majority of marketers today focus on converting leads into customers and growing traffic to their website. There’s also a strong focus on upselling existing customers. Historically considered a cost center for businesses, Marketing is now measured against its abillity to contribute to the business’s bottom line. It is transforming from a budget-keeping to a business-driving function.
Over the years, proving marketing ROI has consistently been a challenge for marketers. A marketer in our survey wrote that planning campaigns holistically enabled them to measure ROI: “Proactive strategic planning results in measurable activities for ROI”.
WHAT ARE YOUR COMPANY’S TOP MARKETING PRIORITIES OVER THE NEXT 12 MONTHS?
Growing traffic to website
55%
Increasing revenue derived from existing customers
45%
Proving the ROI of our marketing activities
39%
Sales enablement
29%
Reducing the cost of contacts/leads/customer acquisition
24%
Converting contacts/leads to customers
70%
Don’t know/not applicable
2%
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DO YOU CONSIDER YOURSELF SUCCESSFUL IN
DIGITAL MARKETING?
30% of respondents consider themselves successful in digital marketing. These Top Performers create online brand visibility and attraction to deliver on their key marketing challenges:
30%58%12%
YES
PARTLY
NO
Brand awareness
Traffic to website
Qualified lead generation
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Build customer database
Show ROI
Support sales with sales
promotion content
Generate more traffic to
your website
Increase customer
loyalty
Create prospects
Rank higher on search engines
Generate qualified leads
Create value proposition for your
product/service
Create brand awareness
Identify potential new business or
upsell opportunities
TOP PERFORMERS LOW PERFORMERS
WHAT ARE YOUR BIGGEST CHALLENGES IN MARKETING
IN THE COMING YEAR?
(BASED ON PERFORMANCE IN DIGITAL MARKETING)
Top Performers and Low Performers face different key marketing challenges.
Top Performers focus on early marketing phases – i.e. increasing brand awareness, attracting prospects and qualifying leads.
Low Performers are predominantly into deal closure – i.e. qualifying leads, identifying sales opportunities and improving brand awareness.
As seen in our previous reports, low performing companies focus more on the last part of the buying process where the big challenges are to identify new business and upselling opportunities – and support sales.
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WILL NEXT YEAR’S MARKETING BUDGET INCREASE,
STAY THE SAME, DECREASE?
60% of respondents intend to increase their budget for digital marketing to create brand awareness, generate more traffic to their website and produce more qualified leads.
Only 3% intend to decrease their digital marketing budget in the coming year.
All groups intend to increase their budget for digital marketing despite their varying degrees of current success.
60%37%3%
INCREASE
STAY THE SAME
DECREASE
LOW PERFORMERS
0% 50% 100%
PARTLY SUCCESSFUL
0% 50% 100%
INCREASE STAY THE SAME DECREASE
TOP PERFORMERS
0% 50% 100%
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WHICH ORGANIC SOCIAL MEDIA CHANNELS DO YOU CONSIDER
THE MOST EFFECTIVE?
In general, Top Performers actively use a multitude of organic social media, while Low Performers focus on fewer channels.
The most important channels are LinkedIn, Facebook and Twitter. We are happy to see that YouTube has a natural place in the lineup, since we can see from past reports that Top Performers use videos with great success.
YouTube
TOP PERFORMERS LOW PERFORMERS
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WHICH PAID SOCIAL MEDIA CHANNELS DO YOU CONSIDER
THE MOST EFFECTIVE?
Top Performers differentiate between organic and paid reach. For example, Instagram and Twitter are less important as paid media. According to respondents, Facebook is the primary paid channel even for B2B audiences.
Low Performers don’t differentiate between organic and paid social media channels.
YouTube
TOP PERFORMERS LOW PERFORMERS
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Traditional* and online advertising are predominantly used in the early Discover phase. However, in subsequent phases of the customer buying journey, Top Performers seems to rely more than Low Performers on advertising.
In addition, and in strong contrast to many Low Performers, Top Performers actively use search engine marketing (SEM) throughout the customer buying journey.
Traditional advertising
Online advertising
Search engine marketing
(SEM)
* Traditional advertising is a proven way to stimulate the beginning of the buying journey for outbound marketing. This is something we discovered in our Trend Report 2016, “How B2B companies are succeeding with Inbound Marketing” where Top Performers still maintain a 50/50 ratio between inbound and outbound marketing.
WHERE IN THE CUSTOMER BUYING JOURNEY DO YOU USE PAID MEDIA?
More used Less used
22 23
SEO Company blog posts
One-to-one emails Newsletters
In the final phase, Top Performers continue to use one-to-one emails to strike up the conversation and keep leads moving through the funnel. Also, when they know more about their leads, they segment them, push newsletters to nurture them and circle them back to the decision phase. SEO is used to ensure that when leads continue to search the web,* Top Performers show up as a natural and reliable vendor.
In the Discover phase, Top Performers use all their own available channels to attract their audiences, while Low Performers focus on just a few channels such as SEO and company blogs.
In the Evaluate phase, there is a clear difference between Top Performers and Low Performers. Top Performers are more inclined to let prospects continue to evaluate on their own, consistent with the insight that about 70% of the buying journey is completed before reaching out to a vendor.
“Today’s buyers might be anywhere from two-thirds to 90% of the way through their journey before they reach out to a vendor,” says Lori Wizdo, principal analyst at Forrester.
And when they reach out, Top Performers favor the use of one-to-one emails with personal, relevant, non-disruptive messages and offerings.
Low Performers commonly use a less personal approach with common messages and offerings to help leads in the evaluation phase.
*Google concluded in their survey – The Changing Face of B2B Marketing – that B2B stakeholders on average make 12 web searches before engaging on a specific brand’s website.
WHERE IN THE CUSTOMER BUYING JOURNEY DO YOU USE OWNED MEDIA?
More used Less used
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35%51%14%
YES
PARTLY
NO
ARE YOU SUCCESSFUL IN CONVERSION?
35% of respondents consider their conversion tactics successful.
According to this study, delivering qualified leads is the number one challenge for B2B marketing executives. To qualify leads you need to have relevant, excellent content in the right channel to attract leads and move them further down the funnel.
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WHERE IN THE CUSTOMER BUYING JOURNEY DO YOU USE
THE FOLLOWING CONTENT?
Top Performers provide content for both the Discover and Evaluate phases. Low Performers focus more on the Evaluate phase, which could indicate that Low Performers are more transactional. Top Performers understand that content has a part to play in all phases.
In the Discover and Evaluate phases, Top Performers use a wide range of content providing a richer more engaging customer experience. The most evident difference is the prominent use by Top Performers of interactive content (in addition to videos) in the Discover phase.
Surprisingly, Top Performers use product sheets as their second-best type of content to convert visitors in the Discover phase of the buying journey. This contradicts our European study where insight and knowledge sharing are the most effective ways of converting strangers into leads.
Low Performers use case studies in this early stage of the buying journey. However, according to Top Performers, these serve more purpose in the later phases of the buying journey.
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Product sheets
Interactive content
Discover – Top 3
Videos Product sheets
Casestudies
Discover – Top 3
Product sheets
Interactive content
Videos
Evaluate – Top 3
Demos VideosCase
studies
Evaluate – Top 3
Demos Casestudies
Salespromotion
Decision – Top 3
Demos Salespromotion
Casestudies
Decision – Top 3
TOP PERFORMERS LOW PERFORMERS
Videos
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THE MOST SUCCESSFUL TACTICS TO CONVERT PROSPECTS
INTO LEADS?
Top Performers make sure their content is valuable to leads. They put this content on specific landing pages and use colorful calls-to-action on the pages to ensure conversion.
Our analysis shows that Top Performers are slightly more mature in their understanding of effective conversion tactics and deployment of A/B testing.
Top Performers strive to simplify and shorten the process of qualifying leads. The recent rise of live chat services is one example. Enabling customers to book meetings on the website without delay is another example. This trend is confirmed by marketing automation vendors like HubSpot.
Low Performers mostly put their trust in testimonials and valuable content to generate qualified leads.
Social proof
Colorful calls-to-action
A/B testing
Valuable content
Live chat service
Easy to fill out forms
Specific landing pages
Testimonials
TOP PERFORMERS LOW PERFORMERS
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DO YOU HAVE MA AND CRM?
36% have a Marketing Automation system. 69% have a CRM system.
In the fluid customer-driven buying environment of today, customers decide when and how to get in touch. To control the influx of prospects and nurture leads into qualified leads for Sales in this environment, Marketing Automation becomes instrumental. We cannot see any reason why Marketing Automation should not, over time, reach the penetration levels of CRM.
DO YOU HAVE A MARKETING AUTOMATION SYSTEM?
36% YES NO64%
DO YOU HAVE A CRM SYSTEM?
69% YES NO31%
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VISITOR ACTIONS
SOFTWARE ACTIONS
ARE YOUR MA AND CRM SYSTEMS CONNECTED?
Top Performers have realized the benefits of having Marketing Automation and CRM systems connected in a closed loop. It aligns Marketing and Sales and provides a holistic view of the entire marketing and sales process.
Marketing departments can overview lead generation end-to-end. It reveals where leads are in the buying process, and when a lead is qualified to handover to Sales.
Sales, on the other hand, get qualified leads from Marketing that they can contact. Assisted by an insight history per lead, Sales can validate if the lead is sales-ready or in need of further lead nurturing by Marketing.
Working in a closed loop also enables Marketing to promote customer loyalty and activate brand promoters in existing customers.
69% YES NO31%
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DO YOU WORK WITH CUSTOMER SATISFACTION SURVEYS?
Deal closure is the starting point of a hopefully profitable and lasting customer relationship. This loyalty is the foundation for scaling any business model.
Customer satisfaction is, in other words, a true success factor. It is therefore surprising that only 38% of the researched B2B companies conduct customer satisfaction surveys.
38% YESNO62%
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ARE YOU REACHING YOUR GOALS WITH CUSTOMER
SATISFACTION SURVEYS?
54% of those who conduct customer satisfaction surveys consider themselves successful in accomplishing their goals. 8% think they fail.
Top Performers have a positive attitude and want customer insights to reveal new business and upselling opportunities to drive business.
Low Performers are problem-oriented and primarily want to identify dissatisfied customers.
54%38%8%
YES
PARTLY
NO
We want customer insights
We want new business and upselling
We want to identify ambassadors
We want to identify dissatisfied customers
WHAT ARE THE RESULTS YOU HOPE TO ACCOMPLISH WITH YOUR CUSTOMER SATISFACTION SURVEYS?
38 39
LOW PERFORMERS
0% 50% 100%We use the outcome in our marketing
We identify customers to phase out
We identify opportunities for sales
WHAT CONCRETE ACTION DO YOU TAKE?
Both Top Performers and Low Performers want to gain more customer insight as a result of conducting of customer satisfaction surveys. They are also similar in their want to identify ambassadors, as well as create new business. The difference between the two lies in the focus on identifying dissatisfied customers. Low Performers put a lot of effort into this.
There is a clear difference in actions. Top Performers have taken their marketing playbook to the next level. Primarily using the outcome of customer satisfaction surveys in marketing to:
We want new business and upselling
We want to identify ambassadors
We want customer insights
TOP PERFORMERS LOW PERFORMERS
We want to identify dissatisfied customers
Reinforce loyalty with
existing customers
Attract and convert prospects
into qualified leads
Close deals with sales-ready
leads
WHAT ARE THE RESULTS YOU HOPE TO ACCOMPLISH WITH YOUR CUSTOMER SATISFACTION SURVEYS?
WHAT CONCRETE ACTION DO YOU TAKE BASED ON YOUR SURVEYS?
TOP PERFORMERS
0% 50% 100%
PARTLY SUCCESSFUL
0% 50% 100%
We use answers to develop our services/products
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USAGE OF NPS
Net Promoter Score (NPS) is a simple yet elegant way to identify your promoters. Companies working with NPS are more successful in reaching their goals with customer satisfaction surveys. As only 23% of respondents use this method, there is great potential for companies to start benefiting from NPS. The majority of Top Performers use the NPS method to reach the goals of their customer satisfaction surveys. It is therefore advisable to use the NPS method in your survey if you wish to be successful.
Activating your promoters in earned media to endorse your brand, product and service is – of course – extremely desirable. It’s unbiased, extremely convincing, and creates visibility without expensive media investments. It’s a dream come true for any B2B marketer.
Bain & Company
» This system gives companies the foundation for determining which investments will yield the highest return «
DO YOU WORK WITH THE NET PROMOTION SCORE SURVEY QUESTION?
SUCCESSFUL TOP PERFORMERS USE NPS
23% YES NO77%
NO
YES
TOP PERFORMERS LOW PERFORMERS
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The Low Performers focus more on deal-closure i.e. supporting sales, identifying sales opportunities and qualifying prospects. They convert by only using one of many tactics. This report shows that they mostly use testimonials. We can only see that they put their trust in customers to endorse their services and products. Which is a very good tactic if it´s combined with brand building, valuable content, and specific landing pages.
Thank you for your interest and don’t forget to keep measuring and improving your marketing and sales performance.
CONCLUSION
As we are spending more and more time online, doing more and more research and are subject to more and more content, we can see that the successful marketers, the Top Performers, are putting most focus on early marketing phases. Understanding the importance of brand awareness, they generate more traffic to specific landing pages and convert the prospect further down the funnel to create more and better qualified leads. They invest resources in becoming a reliable source of insights, and by being helpful continuously make sure they are in the race and the natural first choice in all touchpoints and searches.
Top Performers use the Net Promoter Score as an easy and simple method for identifying and adding value to their ambassadors. Top Performers give themselves a competitive advantage by connecting their CRM and MA systems to create a holistic view of their entire marketing and sales activities.
S A N D B E R G T R Y G G . C O M
Sandberg Trygg is a B2B communications agency that
combines strategic creativity with conceptual creativity.
We work with international and national companies within
healthcare, engineering, IT, telecom, finance and law.
Some of our work can be measured in real time, some
creates lifetime experiences. The common denominator
is that it contributes to more and better business.
