the b2b challenge - marketing value and attribution
DESCRIPTION
Measuring the effectiveness of digital marketing with metrics like leads and lead conversion in the B2B space can be quite complex. Salescycles are long, and often many people from a company participate in the sales process. Marketing campaigns acquire new leads and also nurture people already in the sales process, but often the people influencing the sale are unknown (i.e., never become a lead). Understand the true value of your B2B digital marketing. In this session, you will learn: How to measure the success of search and all digital marketing channels based on the whole sales funnel. How to aggregate metrics from individuals at the company level (see all influencers in the evaluation process). How to measure the success of marketing campaigns and assets based on their intent. How to show these concepts applied in a specific case study to optimize digital marketing, re-market, support sales and influence campaign development.TRANSCRIPT
San Francisco| August 13–17
The B2B ChallengeValue and Attribution
Rob CatafordBusiness OnlineVP Analytics and Customer Intelligence
San Francisco | August 13–17, 2012 | #sessf
B2B Digital Marketers are asking, “How do I…”
1. Demonstrate the value of marketing and content development?
2. Focus budget and effort to the most effective channels and content?
3. Become a partner with sales and go beyond simply providing leads?
San Francisco | August 13–17, 2012 | #sessf
Solutions to These Questions
1. Demonstrate the value of marketing
• Apply the correct attribution• Look at company-level ‘opportunities’
2. Focus budget and effort
• Measure and optimize based on full sales funnel• Measure and optimize based on marketing objectives
3. Become a partner with sales
• Inform sales on prospect behavior• Alert sales on new potential and hot prospects
San Francisco | August 13–17, 2012 | #sessf
Solutions to These Questions
1. Demonstrate the value of marketing
• Apply the correct attribution• Look at company-level ‘opportunities’
2. Focus budget and effort
• Measure and optimize based on full sales funnel• Measure and optimize based on marketing objectives
3. Become a partner with sales
• Inform sales on prospect behavior• Alert sales on new potential and hot prospects
San Francisco | August 13–17, 2012 | #sessf
Demonstrate the value of marketing
• Apply the correct attribution
• Look at company-level ‘opportunities’
San Francisco | August 13–17, 2012 | #sessf
Let’s start with a story…
No,
A “True Story”
what’s really happening
behind the scenes
X
San Francisco | August 13–17, 2012 | #sessf
I really need to find that solution that will
solve everything!
San Francisco | August 13–17, 2012 | #sessf
YOU happen to develop and market an enterprise software solution that solves everything
We Rule!
San Francisco | August 13–17, 2012 | #sessf
(but you have competitors)
San Francisco | August 13–17, 2012 | #sessf
So…what happens at XYZ Company?
San Francisco | August 13–17, 2012 | #sessf
“XYZ” assigns Jim and Susan to lead the investigation and vendor selection process.
Conducts some non branded searches like “Software solutions that solve everything”
Clicks an organic link to your site
Reads some analyst reviews and learns that your company is a leader in the space.
Reviews your products and value proposition on your web site.
Ignores the PPC links – expects he would be presented with a landing page and some kind of call to action – he’s just researching
Jim – Marketing manager: early research
San Francisco | August 13–17, 2012 | #sessf
Conducts some searches which lead to some blogs and other social networking sites for you and your competitors.
Starts following you and your competitor’s twitter handle.
Clicks on a link from a blog to your site and starts browsing.
Sees your company sprinkled across the blogs and reviews and the sentiment appears positive.
Susan – part of investigation and vendor selection process
“XYZ” assigns Jim and Susan to lead the investigation and vendor selection process.
San Francisco | August 13–17, 2012 | #sessf
Jim and Susan call a meeting with key stakeholders to start discussing things – you are in their list of possibilities.
Has concerns on the security and maintenance behind some of the solutions.
Wants to make sure the solution will fulfill the long term needs to solve everything forever.
My people will be using the system – need to ensure training and support are available and the system is easy to use.
Operations Manager
IT Manager
They all take actions to research further…
CFO
San Francisco | August 13–17, 2012 | #sessf
A group of IT, Operations and Financial staff go to your site (via mostly branded search – PPC and Organic)
Reports that he has been getting emails from your company each month with various topics, whitepapers etc. He saw you at an event last year and left his card.
Reports that she has seen some display advertising for your company and that you must be a big player in the space.
Fills out a form on your site to get to a whitepaper.
Also fills out a form after a PPC search.
San Francisco | August 13–17, 2012 | #sessf
Your sales people reach out to the people who filled out the forms and start the direct sales process.
In the mean time…IT personnel download some white papers on the technical solution.
Jim starts to build a competitive matrix with information from your web site..
The CFO attends a sales pitch and goes back to the web site to check out the management team – he also goes to LinkedIn.
Operations staff download some product demos and watch some videos to understand how the product is going to work for them.
San Francisco | August 13–17, 2012 | #sessf
You become shortlisted and are asked to conduct a small pilot. The audience for the summary presentation is around 20 people.
Before the presentation most of the audience researches you on the web site.
A couple of key people read a whitepaper that clearly differentiates your solution.
San Francisco | August 13–17, 2012 | #sessf
They select you! … its due diligence time and contracting time.
They research the web looking for negative sentiment.
They read your customer use cases online and ask to speak to those customers.
The contract is signed!
San Francisco | August 13–17, 2012 | #sessf
Back to the question…
“How do I show the organization the value of my digital marketing and content development?”
San Francisco | August 13–17, 2012 | #sessf
Did your reporting and analysis say…• Search drove one lead and one lead came from a bookmark or typed url.
• This $1M sales was assisted by…• Non branded organic search driving initial awareness• Social marketing driving awareness and nurturing the prospects• Events, display and email driving brand recognition• Web site general content educating the prospect• Branded SEO and PPC making leading to engagement and prospect nurturing• Technical web content dealing with specific objections• Product demos and videos helping late in the sales cycle• Leadership bio’s and case studies acting as references• Over 20 people, all influencers, engaging with multiple marketing channels and web site
assets
Or did your reporting and analysis say…
Were you able to inform sales that this company was a “hot” lead and where there may have been issues during the sales cycle?
San Francisco | August 13–17, 2012 | #sessf
Use Case – Demonstration of the Key Principles
Get the attribution right.
• Use the data to understand the attribution
• Apply the correct model
• Model may be different depending on intent
• Pay attention to cross channel
San Francisco | August 13–17, 2012 | #sessf
Attribution ModelsIn Visit – Participatory Model In Visit – Last Touch Model
One Week– Participatory Model One Week– Last Touch Model
Investigate different models to determine which is best suited. In this case “One Week - Last Touch Model”
San Francisco | August 13–17, 2012 | #sessf
Channel Crossover Analysis
Majority of traffic is single channel
When there is crossover, patterns of channel flow emerge
Use cross channel analysis to determine if it should built into attribution model
San Francisco | August 13–17, 2012 | #sessf
Use Case – Demonstration of the Key Principles
Measure at the Individual and Opportunity level
• Aggregate individuals into opportunities
• By IP Address (unknown visitors)
• By eMail domain (known visitors)
• By company (known visitors)
• By direct connection to an opportunity (known visitors connected to CRM)
• Measure marketing based on connection to an opportunity rather than an individual conversion
San Francisco | August 13–17, 2012 | #sessf
Opportunity Reporting Example Opportunity “Lookback” report
Campaigns and Assets touched by Opportunity Visitors
Website Pages touched by Opportunity Visitors
San Francisco | August 13–17, 2012 | #sessf
Opportunity Based Metrics
“Pct Opportunity Visitors” identifies people associated with a CRM opportunity – even if they are unknown.Channels that drive leads do not necessarily align with channels that nurture the pipeline
Evaluate campaigns and Marketing Assets based on Opportunity nurturing.
San Francisco | August 13–17, 2012 | #sessf
#2 - Focus budget and effort
Measure & Optimize on:
> full sales funnel
> marketing objectives
San Francisco | August 13–17, 2012 | #sessf
Use Case – Demonstration of the Key Principles
Measure based on the full sales funnel
• Connect the web to lead nurturing and CRM systems
• Create conversion metrics based on the funnel stages
San Francisco | August 13–17, 2012 | #sessf
Funnel Based MetricsChannel
Campaign or Asset
Web site based metrics
Lead Nurturing and CRM based metrics
San Francisco | August 13–17, 2012 | #sessf
Use Case – Demonstration of the Key Principles
Measure based on marketing objective
• Awareness, Interest, Action and Value
• Create metrics and rollup metrics that evaluate objective vs. intent
San Francisco | August 13–17, 2012 | #sessf
Metrics by IntentAcquisition/Awareness Metrics
Interest/Engagement Metrics
Action/Conversion Metrics
Value Metrics
San Francisco | August 13–17, 2012 | #sessf
Intent ScoringMetrics Weighted and Aggregated into General Scores
San Francisco | August 13–17, 2012 | #sessf
# 3 - Become a partner with sales
> Inform sales on prospect behavior
> Alert sales on new potential and hot prospects
San Francisco | August 13–17, 2012 | #sessf
• If you are applying these principles, you have the ability to inform sales…
• Which opportunities are engaged and active.
• Which individuals are active.
• What different roles are interested in within the opportunity
• Predict which companies are in the pre-opportunity stage
San Francisco | August 13–17, 2012 | #sessf
Engagement as a Sales Predictor
Recent Web ActivityMeasure of engagement (predictor to sales)
Change in engagement for previous period
Factor representing engagement and change
San Francisco | August 13–17, 2012 | #sessf
Activity Report
Campaigns and Assets touched by Company Visitors
Web Site Pages touched by Company Visitors
eMail addresses
San Francisco | August 13–17, 2012 | #sessf
Re-Cap
1. Demonstrate the value of marketing
• Apply the correct attribution
• Look at company-level ‘opportunities’
2. Focus budget and effort
• Measure and optimize based on full sales funnel
• Measure and optimize based on marketing objectives
3. Become a partner with sales
• Inform sales on prospect behavior
• Alert sales on new potential and hot prospects
San Francisco | August 13–17, 2012 | #sessf
I’m Rob Cataford, VP Customer Intelligence BusinessOnline
Based in Ottowa, Canada [email protected]://ca.linkedin.com/in/robcataford
You can find this deck on the SES website or at Slideshare.net/BusinessOnline
Discussion / Questions