state of b2b marketing 2016
TRANSCRIPT
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State of B2B MarketingWhat the latest research says about the current and future state of B2B marketing
Mathew SweezeyPrincipal of Marketing Insights Author of Marketing Automation for Dummies [email protected]@msweezey
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The Question1,158 B2B marketers were surveyed from around the world to answer the question: “What makes a high-performing B2B marketer?”
Who did we survey? B2B demographics (n =1,158)
Breakdown of B2B Marketing Performance Levels This is a main driver
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The AnswersWhat is the difference between high performers and underperformers?
Executive Buy-In is #1This must happen FIRST before anything else will change
82% of high-performing B2Bmarketers have their executive team’s complete commitment to their marketing strategy.
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Executive Support
High performers are more than twice as likely to have full executive support compared to underperformers.
Gaining buy-in is also the hardest obstacle to overcome, since modern marketing is vastly different than what has been previously done.
This is the main driver
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Budget is #2It’s not just about more, it’s about a different budget
Budgetary constraints is the top reason B2B marketers give for not adopting a customer journey strategy.
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73% of high-performingB2B marketers plan to increase their traditional marketing budgets in 2016, while only 18% of underperformers plan on doing the same.
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The Breakdown on Budgets
Tools and Technology
High performers plan on significantly increasing their budgets on tools and technology over the next two years, a rate
2.9x greater than underperformers.
Traditional Channels
Underperformers spend a higher percentage of their overall marketing budget on traditional marketing channels compared to high performers (37% vs. 26%).
Social Spending Social spend –
advertising on social platforms, social media engagement, and social media marketing – is where most B2B marketers plan to increase spend over the next 12 months.
Where the money will go?
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The Breakdown on Budgets (cont’d)
7 out of 10 B2B marketers plan to increase their digital marketing spend over the next two years.
22% plan to substantially increase their traditional marketing spend – by 25% or more – over that same period.
Digital marketing spend continues to rise
Digital Marketing Spend
Traditional Marketing Spend
Marketing tools and technology
Marketing consulting
Marketing headcount
70%
39%
59%
39%
39%
Increase in Spending
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Tools and Technology is #3Tools are a limiting factor to performance
High-performing B2B marketers use, on average, 13 tools and technologies in their marketing execution, compared to only 5 by underperformers.
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Tools Enable a Single Customer Experience
High performers are 19.4x more likely to say they excel at creating a single customer view.
62% of high-performing teams excel at creating a single customer view. This allows them to create an omni-channel customer experience.
This is critical
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High performers are 7x more likely to be able to create a single customer view than underperformers.
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B2B Technology Breakdown High performers versus moderate and underperformers
Marketing analytics
Web personalization
Emerging technology (e.g., wearables, IoT)
Social listening tools
Marketing automation
Guided selling
56%
57%
61%
48%
49%
51%
28%
21%
18%
18%
21%
17%
12%
5%
4%
5%
11%
4%
Percentage who currently use extensively
UnderperformersModerate PerformersHigh Performers
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Channels and Tactics is #4High performers are gleaning at least 1.4x the value compared to underperformers
High performers are able to see at least 2X-3X the value from the same channels as underperformers.
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The Channels of High Performers
15 Channels on Average
High performers report extensively using 15 channels to create a seamless customer experience whereas moderate performers use 6 and underperformers use 3.
Traditional + Digital
The shift away from traditional is obvious; yet, the channel will not die. High performers use this channel when it is appropriate to do so, but they rely on digital the majority of the time.
Social Facebook (54%) is
the number one most extensively used social channel by B2B marketers, followed by Twitter (49%), then LinkedIn (44%).
Where to invest and what works
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Best-in-Class Tactics High performers versus moderate and underperformers
Web personalization
Advertising on social platforms
Account-based marketing
Lean/agile methods
Lead nurturing and scoring
User-generated content
eBooks
Whitepapers or case studies
Infographics
57%
53%
52%
52%
49%
49%
41%
45%
45%
21%
22%
21%
19%
19%
17%
13%
22%
18%
5%
6%
6%
6%
10%
7%
5%
15%
6%
Percentage who currently use extensively
UnderperformersModerate PerformersHigh Performers
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Tactic To Do Today: Email Onboarding Program(s) Only 50% of B2B marketers use email onboarding of any type. Onboarding costs you $0, and
you already have the tool for it. Create a partner onboarding
program, a customer onboarding program, and an employee onboarding program.
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Tactic to Do Today: Employ Agile Methodologies 52% of high performers say they extensively use agile methods compared to only 6% of underperformers.
Agile Marketing ManifestoThe agile marketing manifesto (expatiated from the Agile Manifesto):
• Individuals and interactions over processes and tools
• Initial value over comprehensive documentation
• Customer collaboration over subjective opinion
• Responding to change over following a plan
That is, while there is value in the items on the right, we value the items on the left more.http://agilemarketingmanifesto.org/
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Experience is #5Marketing is no longer just a single department
65% of high performers rate themselves as excellent at being able to create a personalized, connected journey, compared to only 1% of underperformers.
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Customer satisfaction is their most important metric they use to measure the overall effectiveness of their marketing efforts.
85% of high performers say customer journey strategies are critical to the success of their overall marketing.
High-performing marketing teams are 7.8x more likely than underperformers to strongly agree they’re leading customer experience initiatives across the business.
Biggest Business Challenge Customer Journey Cross Department
They lead the company towards it
It is their focus They build tactics around it
Customer Experience is BIG It’s the number one factor
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Creating a Holistic Experience
High performers are 7.8x more likely to strongly agree they are leading the customer experience across their organization.
Marketing is no longer a department. It is a mindset.
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Conclusions The big takeaways
The Big Differences
A New Idea and Buy-In
High performers have a new idea of marketing. They believe in creating a holistic experience, and get the buy-in from the top to move in this direction.
Executive buy-in gets you the budget and the approval to create a new idea of marketing.
They Constantly Test
When reviewing the data it’s clear to see high performers are the first to adopt new tactics, and techniques. They have the budget to do so and see the value in reaching new consumers in new ways.
Agile allows them to move at the required speed.
Experience Is a Focus
They focus on how to use channels and tactics to create a cohesive customer experience and collaborate with other areas of the company to ensure all experiences are supporting the goal.
Marketing is more than a department.
Between high performers and everyone else
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