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Presented By:Max Traylor
A blended web series addressing CMO challenges with research, data and expertise
Join the live webcast on Tuesday September 8th at 3pm
breakoutCMO series
How it works
Your (CMO) challenges
Our research, data and
experience
breakoutCMO seriesSolutions addressing your
Challenges
Max Traylor | CRO, breakoutrevenue
Max helps companies develop and execute demand generation strategies.
Components of a comprehensive demand generation strategy
Season 1: Episode 1
Episode 1: Overview
Buyer-centric demand generation strategies incorporate your business strategy, target markets, buyer personas, and industry segments – applying best practices to create an agile, repeatable, scalable process of generating demand for your solutions and qualified opportunities for sales.
This session will talk about four major challenges in demand generation today and how to solve them: big-buyer-data, buyer self-education, communication silos and rapidly changing buyer expectations.
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Challenge 1: Big-Buyer-DataThe amount of buyer and customer data available (both 1st party data and purchased 3rd party data) has skyrocketed and will continue to double every year. Data “silos” prevent organizations from making data-driven strategic decisions that could greatly improve the customer experience and accelerate demand.
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Analytics can drive decisions.
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VisionEdge Marketing: Analytics CoE Fueling Corporate Growth
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When data drives strategic decisions
Competitive advantage comes from gathering and interpreting buyer and customer data.
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Technology results in data silos
Insight from CMOs
“There are so many solutions out there. Managing it all requires a substantial time investment. I want a partner who can lay out a roadmap for me. We have 57 vendors just in marketing technology. And you need a data scientist who has the keys to unlock what you’re sitting on.”
—JENN MCMILLEN, VICE PRESIDENT, MARKETING & CRM AT MICHAELS STORES
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Oracle’s CMO Solutions Guide Whitepaper
Solution: Centralized customer dataB2B companies must collect buyer and customer data into a centralized “customer data platform” so that algorithmic applications can inform strategic and tactical marketing, sales and product decisions.
Image credit: http://commons.wikimedia.org/wiki/File:PSM_V46_D167_Outer_surface_of_the_human_brain.jpg
Challenge 2: buyers are self-educatingB2B buyers are doing their own research and self educating before talking to sales. Between 60% and 90% of the buying decision happens before the buyer ever talks to sales.
Forrester research + CEB+ ZMOT + Sirius Decisions
Image credit: http://blogs.forrester.com/lori_wizdo/12-10-04-buyer_behavior_helps_b2b_marketers_guide_the_buyers_journey
Image credit: http://www.executiveboard.com/exbd/sales-service/challenger/new-decision-timeline/index.page
When buyers self-educate
Both marketing and sales are tasked with delivering content to buyers.
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Content Marketing Institute identifies challenges
http://contentmarketinginstitute.com/2014/10/2015-b2b-content-marketing-research/
From Gartner
“Investigate and adopt predictive analytics applications to improve lead generation and nurture marketing spend optimization and identification of companies and individuals most likely to buy your solutions.”
Market Guide for SaaS-Based Predictive Analytics Applications for B2B Sales and marketing
-Gartner Research, licensed for distribution by Lattice Engines
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Most common uses of predictive analytics
Solution: Buyer behavior data should drive content strategy.B2B companies must respond to the trend of buyer self education and develop a content strategy that leverages buyer behavior data to anticipate the buyer’s needs for content.
Image credit: http://www.arttherapyblog.com/art-therapy-ideas/reducing-stress-during-times-of-transition/#.VVyaIvlViko
Challenge 3: Consistent brand experienceB2B buyers expect a consistent brand experience across all channels. The problem is that most organizations operate in silos (marketing, sales, product development, customer service). This results in an inconsistent experience for buyers.
Corporate Executive Board research in partnership with Google
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“The digital evolution in B2B Marketing”, Corporate Executive Board
A recent CMO survey done by Oracle
In 4Q 2014 Oracle conducted a survey of 110 “CMO Club” members on leveraging new technologies and marketing platforms.
Only 13% thought they were able to truly deliver a seamless, personalized consistent customer experience across all touch points.
66% felt they had a ways to go in creating a unified approach.21% said they were “not sure where to start in terms of
understanding a customer’s end-to-end experience with our brand.
“I need help with such things as evaluating the right marketing platform, which analytics to use to best match up to my goals, to name a few.”
Source: Oracle’s CMO Solution Guide Whitepaper
Solution: Customer centric cultureThe technology, people and process used to support the customer’s experience must be integrated and provide buyers/customers with a seamless brand experience across channels and devices.
Image credit: https://github.com/mattray/squid-cookbook/issues/2
Challenge 4: Customer expectations change - quicklyFollowing rapid changes in technology, buyer expectations are rapidly changing. Organizations struggle to update their strategy and tactics according to these rapidly changing buyer/customer expectations.
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Forbes CMO network survey
Sixty-three percent of lead marketers we surveyed consider agility extremely important, yet only twenty-six percent consider their organization very agile. That’s a lot of upside.
Many marketing organizations still are challenged by complex organizational structures, a lack of collaboration, processes that slow them down, and a volume of work that causes teams to be always reacting versus working on initiatives that will drive growth. All of these hinder an organization’s ability to be agile.
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Forbes CMO network talks agile planning in B2B
Image Credit: http://www.forbes.com/sites/jenniferrooney/2014/04/15/applying-agile-methodology-to-marketing-can-pay-dividends-survey/
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A B2B company adopting marketing automation can be managed using agile principles
Create a marketing automation engine for
one buyer persona first, so you can use data to inform your
strategy for the next.
Solution: AgileConstant measurement and iteration is required to keep up with rapidly changing customer expectations. Experimentation and data-driven decisions must become a part of a company culture.
Image credit: https://github.com/mattray/squid-cookbook/issues/2
Recap of key findings
Centralize buyer/customer data to make forward looking decisions.
Buyer behavior data should inform your content strategy to optimize performance of your content.
Organizational structure must be customer-centric and collaborative to deliver a seamless buyer/customer experience.
B2B organizations should use an agile approach when implementing their demand generation initiatives to accelerate results.
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Additional resourcesAvailable at:
http://www.breakoutrevenue.com/cmo-series/demand-generation-strategy
Get your challenges addressedTell us what is holding you back from accelerating revenue at your organization and we will give you 60 minutes of tailored consulting.
breakoutCMO season 1 schedule
Episode 1: Components of a comprehensive demand generation strategy.
Up Next
Episode 2: How to use individual buyer behavior to segment your audience and build personas.
Episode 3: Predictive content analytics takes the guesswork out of content marketing.
Episode 4: Content strategy: the fundamental element of demand generation.
Episode 5: Align your technology, people and process for a customer centric culture.
Episode 6: Vendor evaluation and selection: customer data integration across the organization.
Episode 7: Measuring performance of your demand generation investments.
Episode 8: Agile implementation and iteration of your demand generation strategy
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www.breakoutrevenue.com/CMO-series
THANK YOUStay ahead of your peers, don’t fall behind!
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