Pipeline Marketing for Technology Part 1
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The document discusses 'pipeline marketing' for technology, highlighting the importance of emotional connections with customers through aspirational marketing. It contrasts the old sales paradigm focused on direct interaction with a new paradigm driven by digital engagement and customer-centric strategies. Key insights include the increasing role of content marketing and the shift of B2B customers toward digital models that prioritize customer experience over price.
Pipeline Marketing for Technology Part 1
- 1. PIPELINE MARKETING FOR TECHNOLOGY (PART 1) Steve A. Day September, 2015
- 3. Aspiration Mark- enomics Support of Sales KEY FOCUSES THAT BUILD PIPELINE MARKETING
- 4. CONSIDERATIONS • Aspiration … How can we emotionally connect? • Support of Sales … How is it changing? • Markenomics … How do we pay for the Pipeline?
- 5. ASPIRATIONAL MARKETING (SOURCE: INVENIRE MARKETING, HTTP://WWW.INVENIRE.FI/)
- 6. WHY IS ASPIRATION SO IMPORTANT? • Customers are seeking an emotional and visceral attachment to a supplier – Honesty, Synergy, Reliability, Quality, Fulfillment • Companies find it hard to make this connection – Aspirational projection is hard to fake • Companies aspirations are the best means of connecting with customers needs
- 8. SALES SUPPORT WAS THE CENTRAL FOCUS WHEN … Markets were well defined. We supported a sales organization that was in a win / lose environment. Win, and they were rewarded. Lose, and they were replaced. Through all of this, sales was marketing’s primary customer.
- 9. THE LONG TAIL CHANGES SALES • Sales chases high demand, high volume customers – These customers employ global sourcing to objectively fulfill needs – The sales process is derailed in sourcing • Sales turns attention to lower demand customers – Clear market definition disappears – Many customers, geographically dispersed, and with varying personalities – Direct sales / Inside sales forces can only touch a few and only with limited interaction.
- 10. WHEN WE ACCEPT OUR MARK-ENOMICS Thereturnonmarketinginvestmentis changedforever…Mark-enomics MARK-ENOMICS IS THE ATTACHMENT OF ROI TO ALL MARKETING ACTIVITY, WITH THE GOAL TO ACHIEVE ECONOMICALLY EFFICIENT SALES
- 11. CLARIFICATION ON THE ROLE OF SALES Old Paradigm 1. Introduction visit 2. Needs assessment 3. Opportunity ID 4. Develop offering 5. Present offering visit 6. Negotiate terms 7. Close sale visit New Paradigm 1. Internet contact 2. Chat with expert 3. Electronic configurator 4. Deliver quotation 5. Chat with inside sales 6. eCommerce purchase 7. Fulfillment visit
- 12. SALES FULFILLMENT • Customer’s basic needs fulfilled by pipeline marketing – Brand / identification with customer – Products and services Information exchange – Configuration of opportunity and quote – Identification of size and potential • Sales enters later in the process – Prioritize customers by size and potential – Higher sales efficiency with informed customer • Tangents or secondary issues already off the table – Standards – Education – Product / Service information – Route to customer (eCommerce, Channels, etc)
- 13. MARKENOMICS • Marketing + Economics = Markenomics • Marketing; the business function of promoting goods and services • Economics; the social science of supply and demand Quantity Price p1 p2 q1 q2 Marketing Driving Demand Marketing can drive demand for a product by increasing addressable product applications and/or marketplace
- 14. MARKENOMICS Sales PerfectmatchofCustomertoProduct 57% of customer research on offering done before sales is contacted 69% of customers identified do not fit company profile of an ideal customer 86% of customers do not align with companies content during research Markenomics is the ability to drive the potential customer to a narrow match with the offering, in the most efficient manner Source: Carlos Hidalgo, CEO, Annuities
- 15. HOW DO WE BUILD THIS PIPELINE?
- 16. THE NUMBERS (FORRESTER RESEARCH / CURATA.COM, 2014) 71% of marketing is increasing in content marketing • We know that we are increasing content … training, email, knowledgebase 85% fail to connect content to B2B business value • We ignore that no one is reading or listening Video marketing is 70% more effective that all other medium • Video is memorable, particularly if integrated with entertainment
- 17. “Customers have already adopted a digital, multimedia mindset within their purchasing decisions?” OUR INTERNET CUSTOMER • 61% of global Internet users research products online. (Interconnected World: Shopping and Personal Finance, 2012) • 44% of online shoppers begin by using a search engine. (Interconnected World: Shopping and Personal Finance, 2012) • There are 31% more bloggers today than there were three years ago. (eMarketer, August 2010) • 46% of people read blogs more than once a day. (HubSpot Science of Blogging, 2010)
- 18. “Customers are shifting their values from price to performance?” OUR END USER • 82% of consumers say the number one factor that leads to a great customer service experience is having their issues resolved quickly. (LivePerson) • 70% of buying experiences are based on how the customer feels they are being treated. (McKinsey) • By 2020, customer experience will overtake price and product as the key brand differentiator. (Customers 2020 Report)
- 19. ATTITUDES DRIVING B2B CUSTOMERS – REASONS FOR PURCHASE
- 20. ATTITUDES DRIVING B2B CUSTOMERS – TYPES OF DATA
- 21. NOTABLE B2B BEHAVIORAL TRENDS • Customers are using the Internet and social media is increasing • Customer service and timely response are becoming most important – Price is becoming “less” important • Productivity, expansion, technology and coolness are most important • Product data, price and expert opinion are most important – UG, external validation and customer testimonials are “less” important This provides fragments of an argument that B2B (channel) customers are moving away from a traditional sales model, and moving towards a digital model conveying buyer value and service as a basis of decisions.
- 22. LEGACY ENVIRONMENT End User Standards Local DistributionIntegrators Internet eCommerce Applied Manufactures Core Technology Master Vendors Trade Groups Industry Experts Component Supply Marketing Catalogs / Buyers Sales The legacy world is typically a jumbled mess of both complimentary and competing functional agendas
- 24. THE MAGIC OF THE MARKETING PIPELINE The old paradigm would have marketing chasing sales, whereas the new paradigm is marketing focused on end users. This is not as unusual as it may seem.
- 25. PIPELINE MARKETING • Brand I know who you are • Digital I can find you anywhere, anytime • Thought I feel you understand me Brand Investment Thought Leadership Digital Domain
- 26. I HAVE A CUSTOMER … RIGHT THERE• How do I reach this customer? • How do I interact with this customer? • How big is the sales opportunity? • How do I use my resources to transact the deal? If I am known to the customer (brand), and I am always connected (digital) and I have convinced him I understand him (thought) … then I have progressed through the sales cycle without a physical resource.
- 27. PIPELINE MARKETING LEADS TO FIVE DISTINCT FUNCTIONS Pipelines NG Sales Strategies Social / Digital promotion Internet and automation User Self- enablement Trade and Standards3 Virtues of the Pipeline Brand Investment Thought Leadership Digital Domain Marketing Imprint
- 28. DESIGNING PIPELINE MARKETING PROGRAMS CONTACT: STEVEADAY@GMAIL.COM