What’s required to master B2B marketing? Ft. Forrester

Laura Ramos VP, Principal B2B analyst

Ben Earle Head of Industry, B2B

What’s Required to Master B2B Marketing?

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How To Boost B2B Prospecting In The Post-Digital AgeLaura Ramos, Vice President & Principal Analyst

March 31, 2016

© 2016 Forrester Research, Inc. Reproduction Prohibited 4

The digital age in B2B marketing is here

Image source: http://pixshark.com/door-to-door-salesman-1950s.htm and http://www.huffingtonpost.com/max-kolysh/5-advanced-strategies-for-saving-money-online_b_5003408.html


Business buyers are now digitally savvy

Source: Q4 2014 Forrester/Internet Retailer B2B Buying And Selling Online Survey* Q4 2012 Forrester Global Executive Buyer Insights Online Survey

›90% of B2B purchases start with search

›74% of business buyers say buying from a website is more convenient

›53% find going online superior to interacting with a salesperson


ENGAGE

ASK

USE BUY

EXPLORE

DISCOVER

Empowered buyers make the conventional obsolete

How do you engage the right buyers, with the right content, at the right time, wherever they are?


Consistent engagement is key in B2B

5.4

Source: “Making the Consensus Sale” Harvard Business Review, 2015* Forrester's Business Technographics Global Priorities And Journey Survey, 2015

Average number of people on B2B purchasing team

14 Average number of sources B2B buyers to inform purchase journey*


B2B marketers must attract buyers earlier to engage more consistently

Buyer’s information gathering

Sales contactOmnichannel engagement


How sophisticated are B2B marketers with omnichannel engagement?


Who did we survey?

251 B2B marketers

43%C-level or VP

64%500 employees or more

Primary Industries

Manufacturing

Technology Hardware or Software

Professional Services

Financial Services

Technology Services

Source: A commissioned study conducted by Forrester Consulting on behalf of AdRoll, September 2015Base: 251 B2B marketing analytics decision-makers and influencers

Responsible for customer acquisition/lead generation


Who did we survey?


In which country are you located?

15%

25%

Implement 8+ new technologies/yr

Test 8+ new technologies/yr

40% US12% UK

12% Germany

12% Australia

12% Japan12% France


Technology proponents dominate

“Increased availability of new marketing and advertising technology

makes it easier to engage with prospects”

“Using automation, marketing

contributes share of qualified opportunity

to the pipeline”

76%

73%

Source: A commissioned study conducted by Forrester Consulting on behalf of AdRoll, September 2015Base: 251 B2B marketing analytics decision-makers and influencers, those giving “strongly agree” and “agree” responses.


Source: A commissioned study conducted by Forrester Consulting on behalf of AdRoll, September 2015

Does your firm use the following marketing channels?

Base: 251 B2B marketing analytics decision-makers and influencers

“Adopting more” isn’t reaching buyers

71%say prospect buying journeys have become more complex and nonlinear

61%say managing disparate touchpoints is increasingly difficult

RadioTV

BlogProgrammatic display

SMS/TextDirect buy display

VideoOrganic social

RetargetingDirect mail

Paid social advertisingMobileSearch

PrintIn-person events

Email

62%63%

73%75%75%77%78%80%80%82%83%83%

88%88%88%90%


Changing buyer behavior further complicates early-stage engagement

Source: A commissioned study conducted by Forrester Consulting on behalf of AdRoll, September 2015

72%

“Engaging anonymous buyers is a major

challenge”

67%

“Engaging prospects is more challenging than

3 years ago”

62%

“Engaging early-stage buyers is increasingly

difficult and expensive”

Base: 251 B2B marketing analytics decision-makers and influencers


Making message delivery more difficultWhat are the top three challenges your organization faces in delivering the right message to a prospect at the right time? (top 7 responses for #1 ranking shown)


Understanding best practices for effective segmentation strategies

Getting our message or content to stand out in the market

Understanding a prospect's role in the buying process

Understanding what content the buyer needs

Identifying the right target audience

Getting our message or content to differentiate us from the competition

Understanding buyer interests so that our content engages

9%

10%

10%

10%

11%

14%

16%


Marketing sees technology enable better results


How does marketing or advertising technology relate to your role?

My role has become increasingly technical

I am increasingly required to report on more granular performance metrics

Evaluating, selecting, and implementing technology/services is a core element of my role

I anticipate my role to become increasingly technical

Justifying marketing spend has become increasingly important

Planning or executing the integration of multiple marketing technologies/services is a core element of my role

To perform my job well, I must understand how multiple marketing technologies/services interact

72%

73%

77%

78%

78%

80%

85%


Does technology help marketing be more successful in digital advertising?


B2B marketers must engage early buyers in a more personal/relevant way

›Programmatic ad buying

›Retargeting


Low adoption rates masks high impact on lead generation


Technical expertise affects digital successMarketing technology maturity Marketing automation maturity


Mature technologists see more benefits


Which of the following marketing technologies have you adopted?

How effective are the following marketing technologies at targeting the right prospects/ time/

with content?

Social media monitoring/scheduling

Search Engine Optimization (SEO)

Retargeting

Marketing automation

Programmatic ad buying

Behavioral/contextual targeting

58%

63%

53%

56%

51%

46%

70%

78%

67%

74%

71%

68%



Retargeting




42%

49%

32%

38%

44%

41%

56%

48%

42%

44%

51%

56%


Mature automators see more benefits


Which of the following marketing technologies have you adopted?

How effective are the following marketing technologies at targeting the right prospects/

time/ with content?

Retargeting






56%

64%

55%

49%

51%

53%

64%

75%

70%

63%

69%

73%

Retargeting






22%

42%

35%

42%

41%

32%

46%

52%

57%

54%

51%

46%


Post-adoption benefits consistently exceed expectationsAmong those planning or implementing programmatic advertising:

Have you realized/expect to realize benefits across the following?

Source: A commissioned study conducted by Forrester Consulting on behalf of AdRoll, September 2015Base: 154 (adopted) and 69 (planning to adopt) B2B marketing decision-makers

Help to focus on promising leads and close more opportunities

Ability to generate and develop more qualfied demand

Intelligence on prospect/customer's stage in customer journey

Ability to understand a buer's issues or concerns more deeply

Ability to serve customized content to prospects/customers

Engagement with the right buyers earlier in their purchase process

36%

23%

25%

29%

29%

33%

44%

45%

46%

47%

49%

51%

Realized rate of ma-jor benefit

Expected rate of ma-jor benefit


What should you do to increase your omnichannel engagement abilities?






Results show: Omnichannel engagement delivers significant B2B business benefits› Programmatic advertising and retargeting are valuable

tools for mature marketing technologists…

›…And help increase lead generation effectiveness, especially when using marketing automation.

› Post adoption benefits exceed pre-adoption expectations!

Upper Funnel is a Challenge for B2B

Why is Upper Funnel Challenging for B2B?

-B2B sales cycle is a pretzel

-Not all marketers take an “always on” approach

There are Many, Many Things to Test

-What’s the right offer to engage net new?

-What signals make sense to model off of?

-Unpacking your audience (team of DMs)

B2B Marketing is Moving Faster and Becoming More Technical

85% said they need to better understand how

tech companies & services interact

Marketers test 6+ new technologies

a year.

⅔ of marketers surveyed said their roles have become

more technical But only ½ of

technologies tested are implemented

Only 17% of B2B Marketers Self-Identified as Marketing Technology Experts

Yet 80% said using marketing technology is a

core part of their role

Web is Still the #1 Source of Buyer Influence

But it can be hard to get the right mix

ProspectingTransform strangers into engaged site visitors

- Connect with new, high quality users

- Guesswork-free targeting

- Supercharged Retargeting

Case Studies

- Prospecting CPA 70% lower than goal

- Retargeting Conversions had a 40% increase

- Retargeting goal CPA 22% lower than goal

- Retargeting CTR was .32% - Prospecting CPA was $95

Best PracticesGo beyond “static data”• Demographic & firmographic data are only a silhouette of the user

Pronged approach• Test offers• Test models

Time• Be prepared to have a longer testing window based on your sales cycle

Attribution • Last touch will never tell the full picture

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Thank you!

•Laura Ramos•[email protected]•Twitter: @lauraramos

For more information:“B2B Prospecting Goes Digital In The Age Of The Customer”Forrester Consulting

Ben [email protected]: @adroll

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