Posted in B2B Marketing, tagged Adam Needles, B2B marketing, buyer-centric demand generation, buyer-centric marketing, CRM, customer relationship management, David Raab, demand generation, enterprise marketing management, Jep Castelein, Malcolm Friedberg, marketing, marketing automation, marketing execution management, Marketing Infrastructure, marketing technology, mass one-to-one, technology on August 31, 2010 |
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I tackled this important topic last Wednesday in a new post on the Silverpop Demand Generation (DG) blog – a post that also was highlighted on the Savvy B2B Marketing blog in their weekly roundup.
I’ve noticed a resurgence of this question in recent months — or at least I personally find I’m getting asked this question more than ever by B2B marketers. I think the trend is linked to a new generation of B2B marketers that are adopting marketing automation and that are trying to wrap their heads around the demand generation technology ecosystem.
“CRM and marketing automation have purposes and capabilities that are related and complementary but very different, and these differences are salient to what we’re trying to accomplish with B2B demand generation,” I note in the post. “The two are integral. You need both, but you need to understand what each one does for you, and what it doesn’t do.”
So clearly it’s great timing both to be talking about the two types of platforms and for a blog post that digs into the details, comparing them.
The DG post breaks down the two platforms at three levels:
- A first take: What are some top level similarities and differences, and where do these platforms sit in the larger marketing technology ecosystem? This section includes a great contributed chart from David Raab.
- An analysis of the goals of each platform: What is the intended strategic purpose of each platform?
- A deep dive into features and capabilities: What are the specific things each platform does and doesn’t do? This section includes some great contributed charts from Malcolm Friedberg with Left Brain Marketing and Jep Castelein, a.k.a. “The Lead Sloth.”
I think the most interesting aspect of the dialogue in this post is around the strategic role of marketing automation – a topic I also covered in a past post on MarketingProfs Daily Fix blog. I note in the DG post:
Marketing automation — at it’s most fundamental level — was developed to help marketers better target and execute one-to-one communication with key prospects within the context of demand generation efforts, simultaneously orchestrating and tracking marketing resources against this activity. CRM consolidates a great deal of information about prospects and customers; however, it provides virtually no framework or tools for true nurturing of earlier-stage prospects, and it definitely is not a communication platform. Marketing automation leverages CRM and addresses these gaps, but it then presents new capabilities for B2B marketers that enable them to take their demand generation programs to the next level.
I think of marketing automation as the technology infrastructure you need to power buyer-centric demand generation. It is a critical element in scaling and managing a pattern of dynamic campaigning that is buyer led and that engages buyers on a ‘mass one-to-one’ basis.
Honestly, this is a worthwhile post to check out – with great insights from a number of industry luminaries – so I won’t steal any more of its thunder here.
Click here to read the full DG post.
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Posted in B2B Marketing, tagged Adam Needles, B2B buyer, B2B marketing, Carlos Hidalgo, CRM, demand generation, integrated marketing management, marketing automation, marketing execution management, Marketing Infrastructure, marketing technology, technology on August 10, 2010 |
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This week I’m publishing a four-part blog series — based on research I’m doing as part of the updated focus for my marketing book project. This series takes a look at B2B demand generation today. The first post provided an introduction to the series. Parts two through four examine the three major challenges facing B2B demand generation. Today’s post looks at the first challenge — identifying why technology, alone, is not enough to improve B2B demand generation. ~ABN
So what does that average B2B marketing organization look like today? And what are the challenges that organizations must overcome to get to best-in-class?
Challenge #1: We implement technology to solve our B2B demand generation problems, but we fail to substantially update our underlying processes and roles; thus, we find technology by itself has not really solved our problems.
SiriusDecisions reported at their 2010 summit that the penetration rate for marketing automation platforms among B2B marketing organizations in the US currently is at roughly 7-10%, but they project this will rise to as much as 30% by 2015. A recent CRM Magazine article further noted, “The percentage of firms that have implemented CRM [has] increased, according to industry research firm CSO Insights, from 53% in 2003 to 75% in 2010 … .”
Clearly the adoption of technology – particularly marketing automation and CRM – among B2B marketing organizations is on the rise. Yet within organizations that have adopted the technology, we too often see a consistent pattern of doing what it takes to initially implement the technology – creating minimal definitions and scoring models to get going – but falling far short of a complete overhaul of our core processes and roles. So we never fully leverage this technology.
“Today many B2B marketers are buying into [this] idea: If they acquire a marketing automation solution, then they will wind up with a lead management process,” comments Carlos Hidalgo of The Annuitas Group in a recent post on Silverpop’s Demand Generation blog. “Nothing could be further from the truth. Technology adoption must occur hand-in-hand with process evolution.”
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Posted in B2B Marketing, tagged Adam Needles, B2B buyer, B2B marketing, content marketing, CRM, demand generation, lead management, marketing automation, marketing execution management, Marketing Infrastructure, Marketing Qualified Leads, Megan Heuer on August 9, 2010 |
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This week I’m publishing a four-part blog series — based on research I’m doing as part of the updated focus for my marketing book project. This series takes a look at B2B demand generation today. I’ll put up a new post each day, and then I’ll link all of the articles together once I’m done posting the series. Today’s post is part one, which serves as the introduction for the series. ~ABN
There is no question we are in the midst of a seismic change in the B2B demand generation model. This is a topic I’ve covered in my blogging over the last 12 months and some of the best and brightest in B2B marketing have detailed in their own research and writing.
In fact, it’s more than just change; it is fundamental evolution of the B2B demand generation model. But as with any theory of ‘evolution,’ there often is debate – both around origins and also the current state of being.
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Posted in B2B Marketing, tagged Adam Needles, B2B buyer, B2B marketing, B2B Marketing University, Connected Marketing, CRM, demand generation, innovation, marketing, marketing channels, marketing execution management, Marketing Infrastructure, marketing technology, technology on July 30, 2010 |
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Some of you have been asking about the status of my book project, and so I wanted to provide a quick update.
I announced a little over a year ago that I had begun working on a book project – tentatively titled Connected Marketing – “… that covers the topic of marketing technology and that is meant to help marketers deploy and use technology in a substantially-different way than they do today,” per my last update.
What’s the status of this project today?
First, let me explain that this is a project that I’ve always been pursuing on my own time – i.e., writing early in the morning, late at night or on the weekends. And that is something that’s been challenging to do, given my active role at Silverpop as director of field marketing and as the company’s ‘B2B Marketing Evangelist.’ Many of you know I’ve spent the greater part of the last 13+ months on the road throughout North America and Europe, speaking, meeting with customers, launching new events (such as B2B Marketing University) and educating the marketing community about how to strategically leverage marketing automation technology.
Don’t get me wrong, it’s awesome work — it really is — and it’s a mission I’m passionate about, so no complaints here! It’s just hard – as I’m sure you can appreciate – to both be a dedicated, on-the-road evangelist/marketer and also spend focused time on a personal book project at once. As a result, the book project has had to take a back seat many weeks.
Second, this is a project that – as many projects do – has matured over time as I’ve continued to research and write about the topic. Let me be clear that I’m absolutely continuing to work on this project, but its focus has shifted and has moved in what is at once both an adjacent and evolutionary new direction.
How marketers can better leverage marketing technology to be a more ‘connected’ marketer remains a critical element of the book, but I increasingly recognize two fundamental realities that also are critical to cover in the book.
- As many of you probably will concur, technology adoption alone will not help marketers be more connected, nor is it necessarily the right first step; strategy and process change is the first step.
- Much of the need for new technology – and new strategy and process – is the result of a fundamentally-changing modern marketing environment.
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Posted in Innovative Ideas, Marketing Programs, tagged CRM, dialogue, digital, innovation, integrated marketing management, marketing, marketing channels, marketing execution management, Marketing Infrastructure, marketing metrics, marketing technology, ROI, technology on April 13, 2009 |
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Today I am extending an open invitation for marketers that read this blog to help participate, both in my upcoming book – tentatively titled Connected Marketing – and in my current graduate research project, by taking part in a survey of US marketers that I am currently conducting.
As I noted in a previous post, the focus of my current research is on analyzing and synthesizing ways that marketers could better leverage technology for more connected and more strategic marketing, as well as identifying the cultural, organizational and technological barriers marketers face in trying to adopt strategic marketing technology (versus the myriad of tactical technologies they rely upon today). By presenting insights both into the ‘state of the art’ and into what is keeping marketers from getting there, I hope to provide marketers with new leverage in how they attack the problem.
A key component of this research is an original benchmark survey of marketers focused on garnering insights into marketing technology priorities and experiences. This is where I need your help.
Participate in the Survey
If you are a US-based marketer, please take a few minutes this week to participate in this survey.
This is the last week of the survey, and I need the help of the regular readers of Propelling Brands to hit my target research sample size. So if you can take a few minutes today to fill this out, I’d appreciate it. It shouldn’t take more than 10 minutes, and as a thank-you for your participation, you will receive a summary of the survey results and will be entered into a drawing for an Amazon gift card.
Deadline for completing the survey is Midnight PT on Sunday, April 19, 2009.
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Posted in Brand Strategy, Innovative Ideas, Marketing Programs, tagged Bob Barker, CMO, CMO Council, CRM, dialogue, digital, innovation, John Quelch, John Rotheray, KPI, marketing, marketing execution management, Marketing Infrastructure, marketing metrics, marketing organization, marketing technology, Mike Pilcher, NPV, organizational change, ROI, Scott Brinker, technology, technology change on March 20, 2009 |
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No member of the C-suite has a riskier or more-short-lived term than the chief marketing officer (CMO). The average tenure of a CMO at the ‘100 most advertised’ US brands is 28.4 months, according to recruiting firm Spencer Stuart in a recent Advertising Age column by John Quelch. In fact, as a marketer, few things are as much of a sure-fire, eventual career killer as being named CMO. Strange … you’d think that getting to the top of marketing hierarchy would be the pinnacle of one’s career.
The challenges faced by the CMO speak to many of the fundamental strategic problems underlying marketing organizations and marketing science today and that are linked to a permanent shift in power from brand-company to customer and to a proliferation of communication channels and information sources.
For CMOs to succeed they must sit at the top of a newly-agile marketing organization, built from the ground up with sophisticated, financially-savvy and technology-empowered closed-loop systems and processes in place that can scale, that can manage increasingly complex and customer-centric communication execution and that can provide necessary transparency into multi-channel program performance. And this transparency must provide other C-suite colleagues with the real-time status of key performance indicators (KPIs) and on the return on investment (ROI) of marketing programs in net present value (NPV) terms. “[F]inancial accountability of marketing is here to stay,” argues Quelch in the Advertising Age column. “[I]mproved accountability requires CMOs to be financially literate, to understand the balance sheet as well as the income-statement effects of marketing initiatives.”
Too often, though, such an organization does not exist. “Although the marketplace has changed beyond all recognition due to Web 2.0 and the explosion in digital – marketing technology and process have not kept up with the changes,” commented Bob Barker, VP of corporate marketing at Alterian, in a recent post on DM News.
The imperative for the CMO, thus, is to drive change.
And that change must be focused on building just such an organization. It is not sufficient to manage execution of the existing organization or to believe that your company is already ‘getting it right’ today. There is no room for complacency or incremental efforts. Marketing is a dynamic practice that keeps an organization in check with the dynamic needs of its customers and of the marketplace. CMOs must drive change because their organizations must constantly change to remain competitive – a fact that was validated in a recent CMO Council report, which noted “… 61% of respondents believe that marketing operational transformation will be an essential area of focus for them in the months ahead.”
So how do CMOs do this? And where should they focus their efforts to transform the marketing organization?
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