In a recent survey conducted by the Economist Intelligence Unit, almost 90% of European marketers agreed with the following statement, “We need to change the structure and design of our marketing organisation to meet the needs of our business over the next three to five years.”
Join Marketo's Ray Coppinger and Emma Hewage, Marketing Lead at LinkedIn Marketing Solutions EMEA, in this on-demand webinar as they discuss the key drivers of this need for transformation and how marketing organisations can set themselves up for success in the face of these trends.
You'll discover:
-Why this is a period of unprecedented change in marketing
-The key technological, societal and market trends driving the need for marketing transformation
-The types of changes needed by marketers and marketing functions to succeed now and in the future
Riding the Tidal Wave of Marketing Change: Why Marketers Need to Adapt to Succeed
1. Riding the Tidal Wave of Marketing
Change
Why Marketers Need to Adapt to Succeed
Ray Coppinger
Senior Online Marketing Manager,
Marketo
Emma Hewage
Marketing Lead EMEA,
LinkedIn Marketing Solutions
October 14th 2015
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3. “We need to change the structure and design
of our marketing organisation to meet the
needs of our business over the next 3-5 years.”
87% European Marketers
72% NOAM Marketers
Agree
13. “Just over half of marketers expect the
Internet of Things - where ubiquitous,
embedded devices with unique IP addresses
constantly convey real-time data—to
revolutionise marketing by 2020.”
33. ENGAGEMENT MARKETING
Build personalised and lifelong relationships
#1 – As Individuals
#2 – Based On What They Do
#3 – Continuously Over Time
#4 – Directed Towards An Outcome
#5 – Everywhere They Are
39. The Blogging Food Groups
A steady diet of quality content for your blog
Monday Tuesday Wednesday Thursday Friday Saturday
Raisin Bran
Spinach
Roast
Raisin Bran
Spinach
Raisin Bran
Chocolate
Cake
40. The “Hugh MacLeod”
Strategy—Write 5
relevant blogs then
roll them all together
Monday Tuesday Wednesday
Raisin Bran
Spinach
Roast
Raisin Bran
Spinach
42. EUEUEU
Six Stages of Technology Buying*
Spec/Fund
Vendor
Choice
Implement Manage RenewIdentify Needs
42
4
4-6 months 4-6 months 4-6 months 4-6 months 4-6 months 4-6 months
12 months+
Typical time involved in all stages
of buying across both hardware
and software decision cycles
Source: Andy Bartels, Forrester, “Understanding Shifting Technology Acquisition Patterns,” February 2014.
EUROPEAN DATA- Bases: European recent technology buyers, total N=523 , and by stage: Needs 114 ; Specs/Funding 105; Vendor Choice 79; Implementation 75; Management
70; Renewal 80
The buying journey: There are no shortcuts.
The Buying Cycle:
It’s long, but well
worth
the trip
43. EUEU
2 to 4
distinct pieces of content at
each stage of the purchase journey
…with content consumption at every stage of the journey.
43 EUEUROPEAN DATA - Median Types of Content Used by Stage (Base: European decision process participants, N=552 overall, n=75-122 per stage):
Needs 2; Specs/Funding 3; Vendor Choice 4; Implementation 3; Management 3; Renewal 2
44. EU
IT and Engineering are the visible players in Europe…
Engineering
IT
44
Operations
Business DevelopmentPurchasing
Support
Sales Finance
Project Management
Marketing
External Consultant
EU
45. Reach, Nurture & Acquire
Improve lead quality
Increase conversion
Drive pipeline and revenue
ACQUIRE
REACH
51. “Effectiveness trumpsefficiency,
especially in a time ofrapidchange.
Metrics will become broaderand more
comprehensive, focusing on top-line
revenue and overall engagement more
thanefficiency andbrandawareness.”
#6
Let take an example of buying a car. You see the purple steps as “buyer-driven” vs. the orange steps as “seller-driven.”
1992 Pugeot
They stopped listening – they built filters – we don’t open every email – we don’t see the right side of web pages because we know it is full of ads. So marketers have realised that they need to personalise, engage and truly provide experiences that have a message, tone and purpose for the customer. One size does not fit all – we are headed to a place where businesses have to be able to build personalised 1:1 relationships with every prospect and customer.
This is what we call engagement marketing
It’s an important idea, idea that’s here
An idea that each one of you, members of the Marketing Nation, are the pioneers
You invented this with us
In on the ground floor
Let’s go kill mass advertising
Let’s go kill random acts of marketing
Very exciting journey we’re on
<CLICK>To Phil live
When Tim cook talks about a seamless kind of life, I know I’m living that life
With things like Dropbox, things like chrome, I don’t even think about what I’m using
They’re just continuous windows into my world
Tim cook’s version might be a walled garden around apple products, but it means I can use an iPad as my phone
If I use chrome and open a tab, it’s there when I get home
If I open Office 365 and I’m in Excel cell B35, when I open Excel at home
Or if I put my latest pair of shoes in my cart at home, it knows exactly what’s there from my phone
Entire world comes with him, regardless of which device I use
<PAUSE>
Each and every day, this is changing our, and our customer’s, and our prospect’s expectations as technology users
It is simply going to change what we have to do as marketers
Now, let’s think about this world of random acts of marketing
I expect context, what happens if I see an ad on Facebook out of the sky, or an email out of the sky, that’s different
We tolerate today, but it’s going to become fingers on chalkboard
<CLICK>To engagement marketing
So let me finish my vision with my final GOOD news
If you master this,
If you master Engagement Marketing,
you hold the keys to the kingdom
Think about it… core job in marketing… attentively LISTENING to our customers
Marketing has the eyes, the ears, the brains, to understand customers as strategic asset
Hear voice of customers and act on it in ways never possible before
Marketers steward of journey…very strategic…very powerful
This is why the CMO will be most important C-Suite exec
This is why we at Marketo talk about the future being a Marketing First world
So let me finish my vision with my final GOOD news
If you master this,
If you master Engagement Marketing,
you hold the keys to the kingdom
Think about it… core job in marketing… attentively LISTENING to our customers
Marketing has the eyes, the ears, the brains, to understand customers as strategic asset
Hear voice of customers and act on it in ways never possible before
Marketers steward of journey…very strategic…very powerful
This is why the CMO will be most important C-Suite exec
This is why we at Marketo talk about the future being a Marketing First world
Enjoy Summit
I hope you find inspiration, too
Hope you’re inspired by our vision of engagement marketing
Hope you’re excited by the opportunity to put it into action
As Marketers, we really do have the keys to the kingdom
Together, let’s make it a Marketing First world
<END>
Enjoy Summit
I hope you find inspiration, too
Hope you’re inspired by our vision of engagement marketing
Hope you’re excited by the opportunity to put it into action
As Marketers, we really do have the keys to the kingdom
Together, let’s make it a Marketing First world
<END>
Enjoy Summit
I hope you find inspiration, too
Hope you’re inspired by our vision of engagement marketing
Hope you’re excited by the opportunity to put it into action
As Marketers, we really do have the keys to the kingdom
Together, let’s make it a Marketing First world
<END>
Enjoy Summit
I hope you find inspiration, too
Hope you’re inspired by our vision of engagement marketing
Hope you’re excited by the opportunity to put it into action
As Marketers, we really do have the keys to the kingdom
Together, let’s make it a Marketing First world
<END>
Enjoy Summit
I hope you find inspiration, too
Hope you’re inspired by our vision of engagement marketing
Hope you’re excited by the opportunity to put it into action
As Marketers, we really do have the keys to the kingdom
Together, let’s make it a Marketing First world
<END>
Bases: European recent technology buyers, total N=523 , and by stage: Needs 114 ; Specs/Funding 105; Vendor Choice 79; Implementation 75; Management 70; Renewal 80
And the pre- and post- purchase Journey is Long, But It’s Well Worth the Trip:
The business technology buying process typically takes place over the course of several months, and in some cases it may even take years to complete.
Across all four subverticals, the median time required to complete the cycle is approximately 12 months.
It’s clear that there are no shortcuts — at least none that will lead to successful outcomes.
It’s important to note that the stages may overlap, meaning that there are some members of the buying committee lagging behind in one stage, while other members have moved on to the next stage.
So your brand has to be present for the long-haul to stay top of mind and maintain relevance – to make it onto the shortlist because getting there increases the odds of renewal.
Because they’re also consuming a lot of content in addition to reaching out to your brand
2 to 4 distinct pieces of content at EACH STAGE
All the more reason to ensure sales & marketing alignment
Median Types of Content Used by Stage (Base: European decision process participants, N=552 overall, n=75-122 per stage): Needs 2; Specs/Funding 3; Vendor Choice 4; Implementation 3; Management 3; Renewal 2
European Data
IT, Engineering and Operations are the visible players…
But just beneath the surface are other key players..
Slide 3. (Massive) Missed Opportunity.
Let’s put a little back-of-the-envelope maths behind how far short of our potential we’re achieving today, and the value being lost due to these inefficiencies.
We’re all investing in a range of programs and channels to reach the right audiences, and drive them to our channels to further educate and engage them - but 95 out of 100 leave our websites without converting (5% website conversion for the best of us; 2-3% on average)
Slide 4.
And, when the 5% do convert (filling out a web form) only 20% (on a great day) open the email we’re sending them, leaving 80% largely unengaged
Slide 5.
Sobering picture of our collective effectiveness today. We are engaging 1% of our intended audience. Whether you’re a b2b marketer or high consideration b2c, the long purchase decision process and proliferation of channels is making is hard to realize the potential impact we can have on the business