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Slides from recent business development seminar at Forrester Amsterdam. For clients and non-clients.
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Making Leaders Successful Every Day
Optimize Content and Conversation for 21st Century Sales Success
Peter O’Neill, Vice President & Principal Analyst
Forrester Breakfast Seminar
Amsterdam, February, 2014
© 2013 Forrester Research, Inc. Reproduction Prohibited 3
Agenda
› 10:00 - 10:30 Breakfast, Coffee & Registration
› 10:30 - 10:45 Welcome & Introduction
› 10:45 - 11:30 Forrester Session
› 11:30 - 11:45 Break
› 11:45 - 12:30 Guest Speaker and Analyst Q&A
› 12:30 Lunch
© 2013 Forrester Research, Inc. Reproduction Prohibited 4
Forrester is a global research and advisory firm
© 2013 Forrester Research, Inc. Reproduction Prohibited 5
We help you make better decisions in a world where technology is radically changing your customers
© 2013 Forrester Research, Inc. Reproduction Prohibited
We have entered the Age of the Customer
October 2013 “Competitive Strategy In The Age Of The Customer”
© 2013 Forrester Research, Inc. Reproduction Prohibited 7
With four market imperatives
Transform the customer
experience
Embrace the mobile mind shift
Become a digital disruptor
Age of the Customer
Turn big data into business
insights
© 2013 Forrester Research, Inc. Reproduction Prohibited 8
Next Steps
Visit the Age of the Customer site
Recent Reports by Peter O’Neill Establish Your Content Marketing Lifecycle Gauging Your Progress And Success, (Benchmarks Report for The Lead-To-Revenue Playbook)
For any follow up questions, please contact your client representative, if unsure please ask the host
Presentation slides will be shared by marketing
Stay up to date via our Twitter group! @forrester
© 2013 Forrester Research, Inc. Reproduction Prohibited 9
Agenda
› 10:00 - 10:30 Breakfast, Coffee & Registration
› 10:30 - 10:45 Welcome & Introduction
› 10:45 - 11:30 Forrester Session
› 11:30 - 11:45 Break
› 11:45 - 12:30 Guest Speaker and Analyst Q&A
› 12:30 Lunch
© 2009 Forrester Research, Inc. Reproduction Prohibited
© 2009 Forrester Research, Inc. Reproduction Prohibited
© 2013 Forrester Research, Inc. Reproduction Prohibited
Michael Porter’s five forces revisited in the Age Of The Customer
October 2013 “Competitive Strategy In The Age Of The Customer”
© 2013 Forrester Research, Inc. Reproduction Prohibited
Strategic budget imperatives for customer-obsessed enterprises
October 2013 “Competitive Strategy In The Age Of The Customer”
14© 2012 Forrester Research, Inc. Reproduction Prohibited
Optimize Content and Conversation for 21st Century Sales Success My Agenda
Your Buyers Have Their Own System
Align Your 21st Century Sales System
Design Your Content Marketing Strategy Based Upon A Messaging Framework
Enable Your Sales Channels Accordingly
Recommendations
© 2013 Forrester Research, Inc. Reproduction Prohibited 15
So, How are we doing?
Executive buyersSource: August 1, 2013, “Executive Buyer Expectations – The Bar Is Low” Forrester report
© 2013 Forrester Research, Inc. Reproduction Prohibited 16
80% of our sales efforts are “inside out”
Executive buyers
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We are not aligned to the buyers’ context
Executive buyers
Our marketing is not even aligned to the preferred buyer behaviour anymore
Source: May 07, 2008, “Community Marketing: A New Discipline For Business Technology Marketers” Forrester report
Offer
Fulfill
Respond
Seller Buyer
OldMarket interactions
based on offers
O-R-F scales with media Source: http://www.funnysalescartoons.com/photo/king-machine-gun-salesman-3/prev?context=user
© 2012 Forrester Research, Inc. Reproduction Prohibited
Source: May 7, 2008, “Community Marketing: A New Discipline For Business Technology Marketers” Forrester report
The preferred buyer interaction model
Old
Market interactions based on products
Scale with media
New
Market interactions based on business outcomes
Scale with social media and communities
Buyers have adopted new technologies and changed their behaviour
Web 2.0 Groundswell
Social media
Video
Rich media
Community
Mashups
Chat
Tagging/voting
Social networkmarketing
Participation
Customerengagement
Dialog
Blogs
Wikis
Socialnetworks
Discussions
Virtual worlds
Advergames
Podcasts
User- generatedcontent
Contentsharing
ViralShared bookmarks
Virtual trade showsWebcasts
© 2013 Forrester Research, Inc. Reproduction Prohibited 21
Base: 418 executive-level buyers at global companies of 100 or more employees; Source: Forrester’s Q4 2012 Global Executive Buyer Insight Online Survey
Buyers are fishing for your content
B2B marketers need their content to be found:› By each buyer in their
context,›When they are looking.
Create content that accelerates the buyers along their journey and leaves behind your “brand scent.”
Messages find their own route to buyers
May 2008 “Community Marketing: A New Discipline For Business Technology Marketers”
© 2013 Forrester Research, Inc. Reproduction Prohibited 23
The buyer journey starts earlier than your traditional marketing work, and continues …
Offer-Respond-Fulfil
Marketing
24
Introducing lead-to-revenue management
L2RM is everything that we, as marketers, do to engage our customers on their journey from need to value.
As we engage, we learn more about them and develop a relationship for our company as a trusted advisor and supplier.
And it’s the process we develop to optimize customer engagement.
It’s not about . . .
. . . moving masses of “leads” through a sequential process of attrition until tens or hundreds of deals emerge.
Attract Capture Nurture Sell Expand
25
Our goal now is to . . .
. . . take a single lead through an optimized process . . .
. . . and then repeat that process hundreds or thousands of times.
26
© 2012 Forrester Research, Inc. Reproduction Prohibited
On-demand
webinar!
The Lead-To-RevenuePlaybook
27
28© 2012 Forrester Research, Inc. Reproduction Prohibited
Optimize Content and Conversation for 21st Century Sales Success Agenda
Your Buyers Have Their Own System
Align Your 21st Century Sales System
Design Your Content Marketing Strategy Based Upon A Messaging Framework
Enable Your Sales Channels Accordingly
Recommendations
AudienceMessengerMessage
+
What is a selling system?
Forrester approach to defining the 21st century selling system
Procurer
Executive
Leader
Manager
Expediter
Conductor
Specialist
Consolidator
First ….
• Role map & wallets
• Agreement network
• Segments and patterns
Then …
• Offers and messages
• Content
• Processes
Lastly …
• Sales types
• Skills and model
• Objectives
AudienceMessengerMessage
Description
Outcome
Recipe
Combination
© 2013 Forrester Research, Inc. Reproduction Prohibited 31
The elements of the Customer Reference Model
Customer Reference Model
A CUSTOMER IS AN ENTITY
CATEGORIZED BY LEGAL STATUS
SEGMENTED BY LEGAL DEFINITION
GROUPED BY BUYER ARCHETYPES
NARROWED BY PROBLEM UNIVERSE
REFERRED DOMAINS & PROCESSES
INFORMED BY AGREEMENT NETWORKS
FILTERED THROUGH ALTITUDE LEVELS
KEYED TO A ROLE MAP
PLOTTED OVER A LIFECYCLE
SORTED BY OUTCOME PATTERNS
Audience
© 2013 Forrester Research, Inc. Reproduction Prohibited 32
All your company should be involved
Customer Reference Model
A CUSTOMER IS AN ENTITY
CATEGORIZED BY LEGAL STATUS
SEGMENTED BY LEGAL DEFINITION
GROUPED BY BUYER ARCHETYPES
NARROWED BY PROBLEM UNIVERSE
REFERRED DOMAINS & PROCESSES
INFORMED BY AGREEMENT NETWORKS
FILTERED THROUGH ALTITUDE LEVELS
KEYED TO A ROLE MAP
PLOTTED OVER A LIFECYCLE
SORTED BY OUTCOME PATTERNS
Finance
Customer Experience
Training & Dev
Sales Operations
Subject Matter Experts
Sales Leadership
Sales Management
Sellers (QC)
Engineering Teams
Solutions Teams
Services Teams
Corp Marketing
Competitive Mktg
Segment Mktg
Demand Gen
Events Teams
AudienceMessengerMessage
© 2013 Forrester Research, Inc. Reproduction Prohibited
GE Healthcare thought “outside in“
Source: http://blogs.forrester.com/kerry_bodine/13-06-14-customer_experience_innovation_from_the_outside_in
34© 2012 Forrester Research, Inc. Reproduction Prohibited
Optimize Content and Conversation for 21st Century Sales Success Agenda
Your Buyers Have Their Own System
Align Your 21st Century Sales System
Design Your Content Marketing Strategy Based Upon A Messaging Framework
Enable Your Sales Channels Accordingly
Recommendations
© 2013 Forrester Research, Inc. Reproduction Prohibited
Level 1:Corporate Positioning & Strategy
Level 2:MarketSegmentPositioning
Outcome 1
Level 3:KDM Positioning
Level 4:OutcomeMessaging
Messaging Must be:•Unique•Compelling•Differentiating•Defensible•Durable•Comprehensive
Market Segments are:A homogenous group that shares related roles, exhibits common behaviors, and has similar needs, distinct from other segments.
Key Decision Makers:Decision makers and influencers in the target segment
Outcomes are:The optimal context for customer messaging. Outcomes are thedriver of action. The outcome to may be fulfilled through a number of different productsand solutions, but is not product-centric
Outcome 2 Outcome 3
Strategic Messaging Framework
How are we a relevant solution provider in the marketing we sell into?
How are we-redefiningour Market Category
How do we deliver value to the key decision makers
in our customers?
© 2013 Forrester Research, Inc. Reproduction Prohibited
Level 1:Corporate Positioning & Strategy
Level 2:MarketSegmentPositioning
MS # 1:Digital Marketing
Mgmt
Leader in Integrated Customer Experience
MS #2:Web Content Management
Outcome 1
Increase Inbound Traffic
Level 3:KDM Positioning
Level 4:OutcomeMessaging
CMO/EVP/VP Marketing
Outcome 2
Build high-conversion e-commerce platform
Outcome 3
Automate L2RM process
Strategic Messaging Framework(Example for a Marketing Automation Vendor)
What business are we in?
What do we ‘uniquely’ offer
How does it all tie together?
What products/solutions do we offer?
How are they changingthe approach?
Who is engaged in the decision making process –at all levels, through all stages
What can we help themaccomplish?
© 2013 Forrester Research, Inc. Reproduction Prohibited
Artifact: Buyer Role Profile
Marlena Ortega
Chief Marketing Officer
Role and TenureMarlena has been CMO a global consumer products company for the last 18 months. She is a serial CMO and this is the fourth time she has held the position. Each transition has been voluntary as she’s moved to larger companies (and much higher compensation.)
Marlena is responsible for facilitating growth, through the sales, distribution and marketing strategy. She reports to the CEO.
Personal Profile
What Makes the Job Hard
CMOs are faced with a diverse range of specialized disciplines in which they are required to be knowledgeable. This challenge is compounded by the fact that the day-to-day activities of these functions range from the highly analytical (e.g. – pricing and market research) to highly creative (advertising and promotions)
The average tenure of a CMO is 28 months.
Marlena has been divorced for about 5 years, after a 15 year marriage. No children. She has a small group of close friends with whom she socializes regularly. She has one cat, named Clio and and contributes regularly to PETA and the ASPCA. She has a BA in British Literature from Haverford University and and MBA from Wharton.
Key Issues & Responsibilities Creating Brand Image for CPG company while allowing individual brand freedom
Centralizing brand-specific customer care centers to a single center
Evaluating the transition to a single CRM system
Maintaining a single customer experience across multiple channels
Optimize the mix of marketing, media and channel
Organizing marketing for adaptability
Getting Marketing Analytics that go beyond marketing metrics to link to ROI
What makes the job fun.Marlena likes the diversity. Jumping betweencreative and analytical. The power. In CPG, marketing is seen as a strategic enabler of growth. She used to work for a global technology firm and got no respect.
© 2013 Forrester Research, Inc. Reproduction Prohibited 38
Buyer journey map
Discover Transition
trigger(s)Explore Transition
trigger(s)Evaluate Transition
trigger(s)Shortlist Transition
trigger(s)Purchase
Something changed — need to understand problem.
We will commit to change.
Seeking approaches to solve problem
Identify possible solution provider.
How well will each solution meet my needs?
Narrow down the options.
Which solutions are best? How should I choose?
Make a decision.
This is how I made my choice. These are my expectations.
What was the motivation?
What questions did you ask?
What info were you looking for?
What were you feeling?
Where did you go for help?
Who/what did you trust?
© 2013 Forrester Research, Inc. Reproduction Prohibited 39
Eg. Content research for the Discover phase
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What: content for the Discover phase
Buyer activities
Identify problems.
Search for options.
Potential content options
Best practices of leaders
Business or industry blogs
Industry examples
Business stories
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Marketing content and sales conversations vary by solution complexity
Scope of
offerings
Arguing for business transformation
Low intrinsic valueHigh knowledge transfer
High intrinsic valueLow knowledge transfer
Single product line
Portfolio of technology,
services, and expertise
Knowledge transfer
required
Describing the product portfolio
Showing potential business
improvementListing the product functions
© 2013 Forrester Research, Inc. Reproduction Prohibited 42
Marketing content mapped to solution complexity
Scope of
offerings
Low intrinsic valueHigh knowledge transfer
High intrinsic valueLow knowledge transfer
Single product line
Portfolio of technology,
services, and expertise
Knowledge transfer
required
Product portfolioContent about• Company brand values• Portfolio benefits and functionality• Product functions content
for• High- and low-level tech buyers• Multiple content consumers
Business Improvement
Product functionsContent about• Business benefits and functionality
for• Lower-level tech buyers• Few content consumers
Business transformationContent about• Company brand values• Thought leadership on transformation• Case studies• Business improvement• Portfolio benefits and functionality content• Product functions
for• Business and IT buyers• Many content consumers
Business improvementContent about • Thought leadership on improvement• Technology impacts process and organization• Product functions content
for• Business and IT buyers• Business and tech content buyers
© 2013 Forrester Research, Inc. Reproduction Prohibited 43
Source: April 4, 2013, “Nurture Thought Leadership To Nurture Your Brand” Forrester report
Thought leadership sits at the pinnacle of content marketing strategy
© 2013 Forrester Research, Inc. Reproduction Prohibited 44
Source: April 4, 2013, “Nurture Thought Leadership To Nurture Your Brand” Forrester report
Forrester’s four-step IDEA framework
ID
Identify your target audience, their issues, and the sources of information they trust.
Develop your thought leadership platform: the ideas and content that express the company’s positions.
EEngage your audience through a considered mix of digital, social, and traditional channels.
AAssess the impact on your business and revise or reinvest.
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True thought leadership embodies bold attributes
•Deals with big issues your buyers faceRelevant•Challenges conventional thinkingProvocative•Anticipates what’s coming over the horizonForward-looking•Different from what everyone else is sayingDistinct•Energizes people about this way of thinkingInspiring•Provides actionable advice on what clients can do nowActionable•Using the ideas can produce breakthrough results.Results-driven•The tone encourages a dialogue and feedback.Conversational•Your company can help people get there.Credible•Makes no reference to your products and servicesIndependent
Source: blogs.sap.com/innovation
48© 2012 Forrester Research, Inc. Reproduction Prohibited
Optimize Content and Conversation for 21st Century Sales Success Agenda
Your Buyers Have Their Own System
Align Your 21st Century Sales System
Design Your Content Marketing Strategy Based Upon A Messaging Framework
Enable Your Sales Channels Accordingly
Recommendations
© 2013 Forrester Research, Inc. Reproduction Prohibited 49
Low intrinsic valueHigh knowledge transfer
High intrinsic valueLow knowledge transfer
Single product line
Portfolio of technology,
services, and expertise
Complexity of buying process
Showing potential business improvement
Content about • Thought leadership on improvement• Technology impacts process and organization• Product functions content
for• Business managers and IT buyers• Business and tech content buyers
Describing the product portfolio
Content about• Company brand values• Portfolio benefits and functionality• Product functions content
for• Procurers and managers • Multiple content consumers
Listing the product functions
Content about• Business benefits and functionality
for• Procurers• Few content consumers
Content maps to solution complexity
Scope of
offerings
Arguing for business transformation
Content about• Company brand values• Thought leadership on transformation• Case studies• Business improvement• Portfolio benefits and functionality content• Product functions
for• Business executives • Many content consumers
© 2013 Forrester Research, Inc. Reproduction Prohibited 50
The content-conversation mix varies
Content
Conversation
Product portfolio
Product functions
Business transformation
Business improvement
Content
Content
Content
ConversationConversation Conversation
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Great content begats great conversation
› At the very least, you need to ensure that sales know your content, so they can leverage it in their customer dialogue.
› Sales account managers are now often in the role of “content concierge” — pointing out useful content to their contacts proactively and inventing their own “call-to-action.”
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Help sales to help make your content successful› Sales can inform your content plans.
• Sales can review your topics and even language for customer centricity.
• Sales has ideas for thought leadership content.
• Sales can provide contacts for deeper buyer research.
› Create content about content.• Every content asset should be “tagged”: target audience, sales
stage, intended next step.
• Provide sales guides/battlecards around content programs. › Thought leadership: what thought? Who? Why? What?
› Forrester Wave™ reprint: Where are we good/not so good — why, what do we say about it?
© 2013 Forrester Research, Inc. Reproduction Prohibited 53
Not only your content
› Listening platform output specific to entity/customer
• What has he/she said in LinkedIn-Xing-Facebook-Twitter recently (about us, their business issues, the outcome they seek, etc.)?
• Have they said something about the competition?• Does customer have friends/contacts that are
potentially useful (advocate for us)?
© 2013 Forrester Research, Inc. Reproduction Prohibited 54
Leaders are linking content marketing to sales system
› Content asset system knows which content is most successful.
› Content asset system logs all content consumption into the CRM system — so sales can check before meeting the customer.
› L2RM system informs sales about useful content to deploy for each sales-qualified lead (SQL).
› Attribution analysis shows which content piece increases success probability.
© 2012 Forrester Research, Inc. Reproduction Prohibited
Key takeaways
Your buyers have different expectations and new communications channels.
Re-design your sales system: Message(s) – Messenger(s) – Audience(s).
Create compelling content; in Europe, the Middle East, and Africa (EMEA)
that means local content for local buyers.
Re-align sales and marketing roles and responsibilities
Your buyers have changed, so you also have the opportunity to change.
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Analyst engagement
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One- or two-day intensive workshops in which analysts use research-based best practices to enhance your team’s skill set.
Research-based consulting engagements with analysts deliver the objective, action-oriented recommendations you need in a condensed timeline. Work closely with our analysts to apply their proven expertise to your big initiatives.
Thank youPeter O’Neill
+49 (0)69.959.29839
Twitter: @poneillforr
blogs.forrester.com/peter_oneill