improving content and conversation for b2b sales success

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


Forrester is a global research and advisory firm


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”


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


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

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http://solutions.forrester.com/age-of-the-customer

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http://www.forrester.com/Gauging+Your+Progress+And+Success/fulltext/-/E-RES95303



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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


Michael Porter’s five forces revisited in the Age Of The Customer



Strategic budget imperatives for customer-obsessed enterprises


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


So, How are we doing?

Executive buyersSource: August 1, 2013, “Executive Buyer Expectations – The Bar Is Low” Forrester report


80% of our sales efforts are “inside out”

Executive buyers


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

http://www.funnysalescartoons.com/photo/king-machine-gun-salesman-3/prev?context=user


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


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”


The buyer journey starts earlier than your traditional marketing work, and continues …

Offer-Respond-Fulfil

Marketing

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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

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Our goal now is to . . .

. . . take a single lead through an optimized process . . .

. . . and then repeat that process hundreds or thousands of times.

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On-demand

webinar!

The Lead-To-RevenuePlaybook

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Optimize Content and Conversation for 21st Century Sales Success Agenda





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


Description

Outcome

Recipe

Combination


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


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



GE Healthcare thought “outside in“

Source: http://blogs.forrester.com/kerry_bodine/13-06-14-customer_experience_innovation_from_the_outside_in

http://blogs.forrester.com/kerry_bodine/13-06-14-customer_experience_innovation_from_the_outside_in







Recommendations


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?


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?


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.


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?


Eg. Content research for the Discover phase


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


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


Marketing content mapped to solution complexity

Scope of

offerings



Single product line



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


Source: April 4, 2013, “Nurture Thought Leadership To Nurture Your Brand” Forrester report

Thought leadership sits at the pinnacle of content marketing strategy


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.


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







Recommendations




Single product line



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


The content-conversation mix varies

Content

Conversation

Product portfolio

Product functions

Business transformation

Business improvement

Content

Content

Content

ConversationConversation Conversation


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.”


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?


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)?


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.


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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Thank youPeter O’Neill

+49 (0)69.959.29839

[email protected]

Twitter: @poneillforr

blogs.forrester.com/peter_oneill

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