Myth Busting 101: Insights Into The B2B Buyer Journey

Myth-Busting 101: Insights Into The B2B

Buyer Journey

June 26, 2014

Today’s Featured Speakers

Giles House

Chief Marketing Officer

CallidusCloud

Lori Wizdo, Guest Speaker

Principal Analyst

Forrester Research Inc.

Agenda

Myth-busting 101:

1: The B2B Funnel

2: Marketing to the decision maker

3: Sales Enablement

Recap and Questions

#caldc3

Pace of change

• 25% of goods and services shipped and sold in the last 10yrs

Pace of Change

Products & Services

© 2014 Forrester Research, Inc. Reproduction Prohibited 5

Myth No. 1:

The funnel is dead


Myth No. 1 - False

The funnel is dead


Great lead! Can I get 2,000 more just like that?


It’s not a numbers game anymore.

The B2B funnel needs a tune-up.


Attract Capture Nurture Convert Expand

It’s not about . . .

. . . moving hundreds of “leads” through a process

of serial attrition until dozens of deals emerge.


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

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

Our new goal is to . . .

Source: November 16, 2012, “Pinpoint The Actions And Outcomes That Elevate Leads To Revenue” Forrester report


Myth No. 1 - False

The funnel is dead


Myth No. 2

We’ve got to focus our marketing on the decision-maker


Myth No. 2 - False



Fact: Buying team dynamics vary greatly

Base: Buyers of virtualization and systems management software, US, companies of 500+ employees; buyers of apps

and infrastructure, US, companies of 1,000+ employees

Source: Forrester’s Business Technographics® Customer Journey Survey, Q1 2013

CXO 36% 11% 7% 9% 7% 9% 9% 7% 31% 7% 12% 9%

CIO 30% 42% 32% 31% 24% 37% 15% 23% 51% 28% 35% 34%

LOB 9% 11% 13% 6% 6% 10% 6% 7% 6% 7% 12% 9%

IT manager 20% 23% 22% 19% 23% 21% 30% 26% 16% 32% 14% 18%

IT specialist 29% 29% 34% 39% 24% 29% 50% 37% 5% 41% 22% 33%

Channel 2% 4% 7% 5% 8% 13% 8% 8% 2% 8% 4% 7%

Procurement 3% 9% 13% 23% 25% 10% 11% 18% 15% 2% 12% 7%

Internal end user 6% 4% 4% 4% 3% 4% 9% 6% 2% 8% 9% 5%

Someone else 2% 1% 2% 2% 2% 1% 1% 4% 7% 2% 3% 6%

CXO 16% 6% 3% 6% 4% 6% 3% 3% 22% 3% 8% 5%

CIO 20% 29% 15% 20% 13% 21% 11% 14% 37% 15% 23% 24%

LOB 12% 11% 12% 8% 9% 12% 7% 7% 9% 7% 12% 13%

IT manager 23% 28% 26% 26% 30% 23% 27% 28% 16% 30% 26% 28%

Internal IT dept

specialist 35% 36% 41% 32% 29% 35% 55% 36% 14% 52% 30% 38%

Channel 3% 4% 7% 7% 8% 12% 10% 11% 4% 9% 7% 5%

Procurement 4% 9% 17% 24% 31% 14% 7% 26% 20% 6% 11% 6%

Internal end user 16% 8% 8% 5% 6% 10% 18% 12% 7% 13% 10% 8%

Someone else 6% 4% 5% 3% 6% 3% 4% 4% 6% 6% 5% 5%

18% to 29.99% high

30%+ extremely high

10% to 17% medium

<10% low

Influence level


Myth No. 2 - False



That’s why you need buyer journey maps

Who?

When?

Where: channel

What: questions

What: content

Discover

Explore

Evaluate

Why?

Buy


This is great! But how does this scale?

Awareness Consideration Purchase

Purchase influencers:

CIO CIO CIO

LOB owner Internal IT specialist IT manager

Top vehicles:

Analysts Vendor events Vendor sales

Peers and colleagues www.vendor.com Peers and colleagues

www.vendor Vendor sales Industry conference

Most impactful content

Market/industry trends

Business benefits

Examples

How-to/integration

Competitive comparisons

Technical benefits

ROI information

Service/support

Packaging

Web content and infographics Whitepaper and web content Excel tools and PDFs


B2B marketers need a scalable

approach for buyer-centric, go-to-

marketing strategy and execution


Mature

market

Simple

fast

buy

Mature

market

Highly

complex

buying

process

New

market

Simple

fast

buy

New

market

Highly

complex

buying

process

Complexity of buyer’s decision process

Ma

rke

t m

atu

rity

Changing shipping provider (FedEx to UPS)

Desktop/laptop sourcing

Buying MRO supplies Desktop

productivity tools

Deploying private cloud for test/deployment

Digital presence technologies

Enterprise mobility solutions

Business process outsourcing of noncore functions and processes

New supply chain partner (FedEx to UPS)

Migrating on-premises email to Gmail

Compliance reporting solutions

Security software after recent attack

Security software without recent incidents

B2B marketing automation in 2013



For Example.


The Procurer The Improver

The Transformer The Reactor

Revealing Four Unique Buyer Profiles …

… with predictable context


Predictable buyer context in each zone

Procurer Improver Transformer Reactor

Adoption

Knowledge

Sources

Stakeholders

Budget

Driver

Process

change

Source of

ROI

Widespread In segments Rare Emerging

Codified With SMEs Thought Leaders

Analysts

Small

Practitioner

Large

Managers

Larger

Executives

Small

Executives

Existing line

item

Planned for

next cycle

Created Reallocated

Improve P&L

Ongoing

improvement

Strategic

business

need

Business

imperative

None High,

incremental

Disruptive Limited

Product

features

Enabled

process

change

Innovation Use of

product


Procurer

Generating BANT qualified — with an

active buying project — for late-stage sales

engagement

Improver

Generating highly

qualified — with an active buying project —

for late-stage sales engagement

Transformer

Attract and capture

persona-targeted leads — for early sales

engagement — with thought-leading

nurturing.

Reactor

Attract and capture

targeted leads — to a contextually detailed persona — for early sales engagement.

Complexity of buyer’s decision process

Ma

rke

t m

atu

rity

L2RM strategy

profiles give sales

and marketing a

unified framework to

work together


Turning strategy into action


The way deals start today

Source: December 10, 2012 “Introduction To The Value Equation Framework” Forrester report


How deals start today: known need


How deals start today: unknown need


The right mix drives people to your site


The right mix can be hard to figure out

Source: Forrester B2B Technographics® Buyer Sources Of Influence: Awareness All Technologies/All Countries

0% 5% 10% 15% 20% 25%

Texting/short codesQR codes

SignagePodcasts/webcasts/webinarsVendor-affiliated community

Vendor sponsored communityBlogs

Apps/apps storeProcurement/GSA

SI/consultantEmail (news/sub)

Social networking sitesDirect emailVAR/retailerWhitepapers

Direct mailVendor print

Sponsored seminarTV/radio

Vendor eventsIT forums/message boards

Industry conferenceIndustry association

Industry print (nontechnology)Vendor sales tele/email

Tech analystswww.busprint/news

www.generalInterestBusiness print/news

CatalogsTrade shows

Tech printwww.techinfo

www.techprintVendor sales in person

www.searchengineswww.vendor


Tactics to attract . . .

L2RM

strategy

profiles

illuminate

different

strategies

for the

buyer’s

discovery

phase.

Procurer Improver Reactor Transformer

SEO/SEM

keywords

PR focus

Content

marketing

Influencer

marketing

Outbound

Offers

Product Business

outcome

Solution Business

problem

Product

showcasing

Outcomes Thought

leadership

Business

problem

Product

use cases

Tactics and

techniques

Business

outcomes

Business

problem

Practitioner

sites/forums

Topic

communities

Influencers Analysts

Drip campaigns Content

marketing

campaigns

Events Events

Late funnel:

trials/demos/

downloads

Content

marketing offers

Thought

leadership offers

Midfunnel:

evaluations and

assessments


Tactics to nurture . . .

L2RM

strategy

profiles

illuminate

different

strategies for the

buyer’s evaluation

phase.


Time frame

Content

strategy

Very short Long Long Short

Product

benefits

Removing

barriers to

action

Closing CTAs

Tips and

techniques

Solution-

focused

Consensus

building

Planning tools

Business-

outcome-

oriented

Thought

leadership

showcase

Removing

barriers to

action


The fine art of being relevant

› Design your site to speak to buyers . . .

› . . . and to buyer needs.

› Use on-site behavioral targeting.

› Increase site “stickiness” with targeted content.

› Provide content based on visitor behavior.


Myth No. 3

Nearly 60% of a typical purchasing decision is completed before customers even have a conversation with a supplier.


Myth No. 3 - False



DISCOVER

EXPLORE

Purchase Consideration Awareness


Fact: Sales reps remain a source of influence

Awareness

www.vendor.com

Search engines

Vendor sales in person

www.techprint

www.techinfo

Consideration

www.vendor.com


www.techprint

www.techinfo

Search engines

Purchase


www.vendor.com

www.techprint

www.techinfo

Search engines

“What vehicles do you rely on for information about vendors and

solutions across all phases of your buying process?”

Base: companies of all sizes, representing all software purchasing; Source: Forrester’s Business Technographics®

Customer Journey Survey, Q1 2013


You’ve got to give your sales reps the right leads!


L2RM strategy profiles reveal different lead scoring models


Marketing

qualified

leads (MQLs)

Sales

qualified

leads (SQLs)

Demographics

Firmographics

Demographics

Firmographics

Persona

Demographics

Firmographics

Persona

Demographics

Firmographics

Persona

BANT MQL plus late-

stage buying

behavior

MQL plus

early-stage

buying

behavior

MQL plus

contextual

signals


You’ve got to give your sales reps the right tools!


Buyers

Are your salespeople really prepared?

Source: November 22, 2013, “The Failing School System For B2B Sellers” Forrester report

Or are you

losing

opportunities?

Base: 418 global IT and business decision-makers; Source: Q4 2011 Global Executive Buyer Expectations Of

Sales Interactions Online Survey

Or are you

losing

opportunities?


L2RM

strategy

profiles

illuminate

different

strategies to enable

sales to help the buyer

make a decision.

L2RM strategy profiles reveal different sales enablement strategies


Content

Delivery

Address specific

product

questions.

Competitive

comparisons

Remove barriers

to action.

Discovery

guides

Solution

positioning

Best practice

advisory

Tools and

training to

inspire and

create a shared

vision

Discovery

guides

Tools and

training to

deliver problem

space advisory

Content and

events

Content and

events

Events and

content

Content

The big pivot…

From one sized fits all sales and

marketing To engagement based on

buyer specific needs

The Procurer The Improver

The

Transformer The Reactor


Myth No. 3 - False


For Review

Myth-busting 101:

1: The B2B Funnel

2: Marketing to the decision maker

3: Sales Enablement

Recap and Questions

Thank you

Giles House

Chief Marketing Officer

CallidusCloud

[email protected]

Lori Wizdo, Guest Speaker

Principal Analyst

Forrester Research Inc.

[email protected]

Myth Busting 101: Insights Into The B2B Buyer Journey

Marketing

Transcript of Myth Busting 101: Insights Into The B2B Buyer Journey

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