how predictive is revolutionising b2b sales &...
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© BrightTarget Ltd 2017
How Predictive is Revolutionising B2B Sales & Marketing
Glen Westlake, CEO & Co-founder
@GlenWestlake
@brighttarget
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017
Who to target?
When to target them?
What proposition to offer?
Predictive Sales & Marketing takes all the
Available Data about the Organisations you sell to
and the People you engage with
and applies Data Science & Artificial Intelligence
to advise…
INTRODUCTION TO PREDICTIVE MARKETING
brighttarget.com © BrightTarget Ltd 2017
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017 brighttarget.com
1 Size of Opportunity & Complexity
Predictability
Breadth of Data
Ability to Influence Your Customer
2
3
4
WHY B2B IS GREAT FOR PREDICTIVE
@brighttarget
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017
Lead & Contact
Management
Direct Mail
List Brokering
Campaign
Management
1990’s
Telesales
Segmentation
CRM
2000’s
eRetail
Email Marketing
Self Service
Product
Recommendations
Personalisation &
A/B Testing
Mobile
Digital
Today
Demographic
& Firmographics
Environmental
Signals
Internet of Things External
Customers
Prospects 2010’s
brighttarget.com
Early Days
Product &
Supply chain
Management
Financial
Management
Human Resource
Management
Operations
MARKETING EVOLUTION
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017
SYSTEMS OF ENGAGEMENT
CRM Digital
Customers
Prospects
External Operations
From fragmented and
complex ‘systems of
record’…
to the new world of
‘systems of
engagement’…
brighttarget.com
© BrightTarget Ltd 2017
Positioning in Marketing Technology Eco-system
7
Marketing
Automation CRM
Sales
Automation Mobile /Apps Web
Systems of
Engagement
Systems of
Insight
Enterprise
Data Social
Data
Company
Firmographic
s & Financials
CRM ERP Internal
External Sales
Automation
Web
Analytics Marketing
Automation
Actionable
Predictive Insights
…who to target?
…with what message?
…when?
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017 brighttarget.com
QUESTION PREDICTIVE READINESS
@brighttarget
How aware of predictive marketing are you? 1. Not aware 2. Aware and researching 3. On our roadmap/ planned 4. Already using predictive
© BrightTarget Ltd 2017
89% OF B2B MARKETERS NOW HAVE PREDICTIVE ON THEIR ROADMAP
@brighttarget
BrightTarget outdoes the competition by predicting which customers
will deliver the most lifetime value, not simply who’s likely to convert and
when. Incorporating unique information, such as invoice history,
service records… BrightTarget helps business executives (not just
marketers) calculate their customer base’s current value …
We think BrightTarget’s straightforward, elegant UI – along with
services that help customers hone-in on optimum segments and use
cases – stand to boost their chances of success.
B2B marketers with a wanting to drive sustainable business growth
through marketing and sales efficiency – especially those
headquartered in Europe -- should take a look at BrightTarget to help
drive revenue across the entire customer lifecycle.
See our stand for copies of this
Forrester analysis
© BrightTarget Ltd 2017
BrightTarget is one of only 22 Global Vendors, of which only 3 in
Europe and 2 of these were acquired by Sidetrade last year.
Analyst Reviews
@brighttarget
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017
Predictive Analytics (and Machine Learning) combine a collection of statistical
techniques to analyse the past, to predict what is going to happen in the
future.
PREDICTIVE
MODELLING
TECHNIQUES
SV
M
En
se
mb
le
Clu
ste
ring
Asso
cia
tion
R
ule
s
Regre
ssio
n
Dee
p L
ea
rnin
g
Mo
de
lling
Orc
he
stra
tion
Data Pre-
Processing
Data Threshold
Monitoring
SCORING
TRAIN & TEST
INTERNAL +
EXTERNAL
DATA
PREDICTIVE
INSIGHTS
PREDICT an
outcome in a future
period
T+1
TRAIN model on
historic signals
TEST model on
historic
outcomes
T – 1
Data Scientists actually spend 80%
of their time preparing data (2016 CrowdFlower survey of about 80 Data Scientist’s)
HOW DOES PREDICTIVE WORK?
Today
Is a customer
going to churn
next month?
© BrightTarget Ltd 2017 www.brighttarget.com
5 Key Steps for Success from AI
12 © Copyright – Sidetrade 2017
Step 4. Process Integration & Delivery
Step 1. Mass Data Collection
Step 2. Predictive Modelling
Step 3. Prescriptive / Actionable Insights
Step 5. Model Monitoring & ROI
© BrightTarget Ltd 2017
Full-Suite Predictive Sales & Marketing
© Copyright – Sidetrade 2017 14
Run targeted product or
segment focussed campaigns
Focus on segments with
biggest opportunity to grow
long-term value
Find hidden Upsell & Cross-
sell opportunities
Find more Prospects (net-new) that
look most like your best customers
Focus on your best Prospects and
generate better leads for sales
Prioritise your Leads on
those most likely to close and
be of highest future value
Grow
Acquire
Customers
Focus all activity on highest
value or potential accounts
Re-activate your
best lost Customers
Highlight key Engagement
opportunities
Identify active Customers
most at-risk of Churn and
optimise retention strategy
Retain
Enrich data from various
external sources
Load Customer
& Prospect Data
Understand
Combine interaction & transaction
data from multiple sources
Segment customers by
Behaviour, Value and Product
Optimise for Product Substitution
of higher value products or services
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017
UNDERSTAND CUSTOMER BEHAVIOUR & CLV
984
£105M
1,906
Number of Customers
Total Lifetime Value (£) future predicted profitability (over next 2 years)
£21M £16M £11M £5M £3M £3M
1,874
3,117 3,330
2,339
1,326
Frequent Purchasers
Mainstream Product X
Mainstream Product Y One Off
Purchasers
Loyal Returners New
Purchasers
Key Accounts
Segmentation highlights a clear differential in how customer behave (purchase and interaction)
65% of total value from just 7% of customers in ‘Stretched Accounts’ segment
Opportunity to develop a marketing strategy to influence different customer behaviour. E.g. how do we persuade ‘Loyal Returners’ to buy more product, more often?
© BrightTarget Ltd 2017
RETAIN – Optimise your Retention Strategy
16 16
3A
Customers
Churn Risk
Cu
sto
me
r V
alu
e
Low Medium
Hig
h
High
Me
diu
m
Low
2A
Customers
1A
Customers
3B Customers
2B
Customers
1B
Customers
3C
Customers
2C
Customers
1C
Customers
Focus sales time on
customers most at risk
and of high value
Benefits
Don’t waste time on
low value customers or
those unlikely to leave
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017
Predictive Churn – Optimise your Retention Strategy
17 17
3A
Customers
Churn Risk
Cu
sto
me
r V
alu
e
Low Medium
Hig
h
High
Me
diu
m
Low
2A
Customers
1A
Customers
3B Customers
2B
Customers
1B
Customers
3C
Customers
2C
Customers
1C
Customers
Focus sales time on
customers most at risk
and of high value
Benefits
Don’t waste time on
low value customers or
those unlikely to leave
© BrightTarget Ltd 2017
F2F Sales
Ignore
Service
Marketing
Inside Sales
Offer X
Extra Care
Re-Engage
Offer Y
Inside Sales
Make Contact
Which Channel?
What Strategy/ Message/ Offer
Strategies tailored for Behavioural Segments
© BrightTarget Ltd 2017
Customer Success Story – Predictive Churn
18
Euromoney Institutional Investor PLC is one of Europe's largest business and financial magazine
publishers which has interests in financial publishing and event organization. It is a
constituent of the FTSE 250 Index.
Revenue: € 500M | Sector: Publishing
81% Churn Prediction
Accuracy
7% Increase in renewal rate
(of High Value / High Risk
Accounts)
34% Reduction in Sales Effort
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017
ACQUISITION – Optimise your Sales Strategy
19 19
3A
Prospects
Likelihood to Convert
Pre
dic
ted
Cu
sto
me
r V
alu
e
Low Medium
Hig
h
High
Me
diu
m
Low
2A
Prospects
1A
Prospects
3B Prospects
2B
Prospects
1B
Prospects
3C
Prospects
2C
Prospects
1C
Prospects
Focus sales time on
best leads to increase
conversion rate
Reduce time wasted
by sales on leads that
will never close
Benefits
Optimise your
channel strategy –
send high value leads
to sales and nurture
those of lower value
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017
Predictive Lead Scoring – Optimise your Sales Strategy
20 20
3A
Prospects
Likelihood to Convert
Low Medium
Hig
h
High
Me
diu
m
Low
2A
Prospects
1A
Prospects
3B Prospects
2B
Prospects
1B
Prospects
3C
Prospects
2C
Prospects
1C
Prospects
Pre
dic
ted
Cu
sto
me
r V
alu
e
Focus sales time on
best leads to increase
conversion rate
Reduce time wasted
by sales on leads that
will never close
Benefits
Optimise your
channel strategy –
send high value leads
to sales and nurture
those of lower value
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017
Customer Success Story – Lead Scoring
21
44 years of innovation, development,
manufacturing and sales of high equipment and
supplies.
Revenue: € 19BN (group) | Sector:
Manufacturing
105% Increase on
Suspect to Prospect
Conversion Rate
66% Increase on Prospect to
Opportunities
Conversion Rate
3.3x Increase in Revenue
(from Marketing Generated
Leads)
Global Industrial Manufacturer
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017
Customer Success Story – Lead Scoring
22
Sector: Business Services
38% Increase on
Event Delegate
Leads from Email
40% Reduction in Email
Volume to Achieve
Conversion
Event Management
Company 180%
Delegate Uplift from
Tele-Sales
2.8x Improved Conversion
Rate by Tele-sales
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017
Customer Success Story – Upsell & Cross-sell
23
Sector: Building Services
3.8% Conversion Rate (to sale)
on Cross-sell Campaign
4.75x Increase on
Conversion Rate
(to Sale)
Building Supplies Company
© BrightTarget Ltd 2017
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017 brighttarget.com
QUESTION STRATEGIC OR TACTICAL APPROACH?
@brighttarget
Where do you think your biggest opportunity is hidden?
1. Acquisition – Net New, Prospect/ Lead Scoring 2. Customer Growth – Up/Cross Sell 3. Retention Management 4. Unsure
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017 brighttarget.com
1 Build an Innovative Culture (Challenge the status quo)
Use AI with machine learning to predict outcomes e.g. 1st sale, additional sale, last sale, CLV, looks like ideal customer
Convert predictions to marketing actions Actionable insights with measurable ROI
Link insights to ‘Systems of Engagement’ Close the loop for continual improvement
2
3
4
KEY STEPS TO PREDICTIVE UTOPIA
@brighttarget
© BrightTarget Ltd 2017 © BrightTarget Ltd 2017 brighttarget.com
Understand where your opportunity is hidden
Take a more strategic approach by measuring ROI Net New + Customer Growth + Retention
Full Customer Lifecycle Approach (SCV)
Behavioural Segmentation + CLV Tracking
Prioritise campaign activity to maximise profits
Predict customer needs to personalise offer
Prioritise actions based on future potential value
2
3
WHAT NEXT? TO OPTIMISE CUSTOMER VALUE
@brighttarget
1
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