B2B Segmentation Strategies and Procedures · PDF fileMore data on this topic available from::...
Transcript of B2B Segmentation Strategies and Procedures · PDF fileMore data on this topic available from::...
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B2B Segmentation Strategiesand Procedures
Vicki Morris, VP Marketing
NorthStar Systems International, Inc.
Monday, February 25, 2008
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About NorthStar (in 2006)
Emerging wealth
management
software provider
Some early adopter
clients
1 marketing
consultant
Limited awareness
www.northstar.com Early Adopter Clients
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Strategy: Software Marketing
Segment by Title (Based on Early Client Success)
Use Hi-Tech eMarketing to keep costs down
Use Hi-Touch Tele-Networking to build relationships
Current
Sales
Contacts
New
Targets
Mktg
DB
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Results: Software Campaign #1
Hi-Tech Strategy Component: eNewsletter893 Initial Contacts from Sales/Recipients34% Open Rate vs. 26-29% Average in Financial Services31% Click-through Rate12 New Subscriber Requests2 Forwards2 Opt-Outs, 0 SpamCost: $5k
Hi-Touch Strategy Component: Tele-NetworkingFollowed up on eNewsletter subscribersEstablished 129 New Contacts11 Leads Generated (with Meetings and Dossiers)Cost: $12k
Takeaway: Great way to jump start a vendor in a new,relationship-oriented market
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Assessment & Planning for Campaign #2
New, Emerging MarketBuyer Has Pain Point(s)No Currently Budgeted InitiativesWe Get Meetings, But No Projects
Strategy?
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Strategy: Solution Marketing
Segmentation based on Title & Pain Point
Current
Sales
Contacts
New
Targets
Mktg
DB
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7© 2008 MarketingSherpa Inc. This presentation is not for distribution. Thank you.
Criteria
•Acute pain point
•Pain in key target segmentsthat are a match for us
•We can solve pain pointbetter than alternatives
•Have experience solving(with referenceable client)
•Short sales cycle (< 6 mos.)
•Budgeted project
Limited integration & quickdeployment
•Buyers/titles we can reach
Solution Selection Process
Solution Options
1. Compliance
2. Client acquisition
3. Product Catalog
4. Client Reporting
5. Product promotion
6. Performance reporting
7. Retirement planning
8. Practice management
9. Client Web
10. Better prospecting
11. Better analytics
12. Client on-boarding &account opening
13. Globalization
Selected Solutions Are in Blue
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8© 2008 MarketingSherpa Inc. This presentation is not for distribution. Thank you.
Results: Solution Campaign #2
Hi-Tech Strategy Components: eMultiples with Consulting Partner2934 Contacts vs. 893 for prior campaign
eMultiples: eNewsletter, eCard, eVite/Webinar, ePR, eAd
34% Open Rate, 12 New Subscribers & Forwards
31 Opt-Outs, 0 Spam
27 Webinar Attendees
36 PR Portal Postings
eAd in 2 key publications (13k readers)
12 Leads
Cost: $8k + $17k from Partner
Hi-Touch Strategy Component: Tele-Networking & Analyst RelationsMarket Validation/Gatekeeper Identified: VP Wealth Mgmt
10 Leads Generated (with Meetings and Dossiers), 1 lead in contract
1 Analyst Report with Industry First Position
Cost: $10k
Takeaway: Doubled leads & awareness
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Assessment & Planning for Campaign #3
Compliance Budgets Not What ThoughtDifferent Types of Compliance:
Front Office vs. Risk/Back OfficeFront Office Compliance as Pain Point, JustNot Urgent One for Most FirmsAll Wealth Management Firms Don’t Havethe Same Pain Points
Strategy?
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Strategy: Segment Marketing
Segmentation based on Title, Pain Pointand Firm/Industry Segment Type
Current
Sales
Contacts
New
Targets
Mktg
DB
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Segment Marketing
Target Segment/Firm Type
Value Proposition
Private Banks andBroker-Dealers
REVENUE: Increase AssetsUnder Mgmt (AUM) per Advisor
Asset Managers CHANNEL SALES: Drive AssetGrowth via Channel
Note: Prefers on-demand solution
Multi-Family Offices PROFITABILITY: GenerateProfitable Growth by GrowingShare of Wallet
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Results: Client Acquisition Campaign #3
Hi-Tech Strategy Components: eMultiples to Target Segments
4470 Contacts vs. 2934 for prior campaign
eMultiples: eNewsletter, 3 eCards w/ case studies, white paper, datasheet
3 Target Segments with Different ROI/Value Propositions
34% Open Rate, 20 New Subscribers & Forwards
55 Opt-Outs, 0 Spam
45 PR Portal Postings, 90% SEO Visibility Ratings
60 Leads, 1 Lead in Contract
Cost: $15k
Hi-Touch Strategy Component: Tele-Networking & Analyst Relations
46 Leads Generated via In-House Sales Team (armed with target list andtargeted e-mails to follow up on eCards), 1 Lead in Contract
4 Analyst Briefings; Analyst Quote in Solution Press Release
3 Positive Articles in Key Publications
Cost: $13k
Takeaway: Best way to generate leads & awareness
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B2B Segmentation Strategies Work
Software Marketing with Title Segmentation: Great awareness, limited leads
Solution Marketing with Title & Pain Point Segmentation:Double the leads
Segment Marketing with Title, Pain Point & IndustrySegmentation: Quadruple the leads
B2B Segmentation Strategies helps yougenerate results like firms that are 2-4x larger.
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About NorthStar (2008)
Leading provider ofwealth managementsoftware
NorthStar used by 5 ofthe top 10 U.S. wealthmanagers (Barron’s)
Recognized by topanalysts
Won awards (RedHerring, Software 500)
Brand awareness with5200 prospects
3800 returning websitevisitors/month
Bi-Monthly eMarketingand PR efforts
Launched industrytrends survey
www.northstar.com
U.S.TRUST
Sample Clients
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Recommended Resources
Best Agency (PR, Creative & eMktg) Fast Lane ([email protected])
Best Product Marketing Consultant [email protected]
Best Case Study Consultant [email protected]
Best Powerpoint Consultant [email protected]
Best Flash Consultant [email protected]
Best HTML eNewsletter Producer [email protected]
Best Competitive Research Papers [email protected]
Best SEO Consultant [email protected]
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Best Practice #1: Take Time to DoMarket Analysis
Required Analysis
1. Opportunity Where are the prospects located?How many are there? Where do Ifind them?
2. Competition Who am I likely to be up against?What are the odds of winning?How do I counter their claims?
3. Target Audience Who do I approach? Who calls theshots?
4. Sales Will Sales qualify deals? Do theyneed training?
4. Partners Who leads this deal? What’s in itfor partners?
Doing the hard work up front pays off
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Best Practice #2: Establish theRight Structure
Campaign Structure
1. Value Proposition Addressing an importantbusiness issue with a viableoffer that represents a uniqueadvantage to your companywith credible evidence tosupport these claims
2. Concrete &Compelling Offer
Specific, customer-actionabledeal
3. Call to Action Explicit direction to client (e.g.,free whitepaper, free trial) andexplicit direction to Sales (e.g.,commission)
Determining structure and content is key tosuccess
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Best Practice #3: End-to-EndMarketing Campaign Design
Awareness Interest Desire Action
KillerContent
Why? What? How? When?
Partnerteamenablement
Partner jointmarketing
Opportunitymapping
Mappingback topartnerplans
Salesenablement
Demandcreation viawebsite,online ads,e-mail & PR
CustomerMeeting
Demos
Workshop
Trials
POC
Pilot
Helping prospects move through the cycle isimperative
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End-to-End Marketing CampaignCycle (mapped to selling cycle)
End-to-end Marketing Campaign Manager:
Campaign Design, project mgmt, execution mgmt, results/metrics reporting
Sales Readiness
Sales
Value
Proposition
Elevator Pitch
Qualification
Presentation Sales Tools Client Offer
Sto
ry &
Str
ate
gy
Metrics/Results
Action/Trial Preference ConsiderationAwareness
PR
Feature Story
Newsletter
Trial
White paper
Demo
OfferData sheet
Case Study
Ad
E-Mktg Letter
Target Customer
Target SegmentsTarget TitlesTarget RegionsGTM Partners
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Vicki Morris, NorthStar
415-344-6117
Credits/Thank You