Feeds:
Posts
Comments

Posts Tagged ‘nurturing’

This week I’m publishing a two-part blog series.  This series takes a look at the challenge marketing leaders face in managing demand as an operational process.  The first post presented an introduction to the topic and examined the issue of tracking B2B buyer behavior.  The second post, today, looks at the fundamental issue of B2B marketing leaders’ ‘lack of an operations mindset.’ ~ABN

Problem Two:  Our Lack of an Operations Mindset

Given we have a rapidly expanding set of technological capabilities – through marketing automation and similar platforms – to ‘track the buyer,’ what is remaining for us to effectively manage demand as an end-to-end, optimize-able process?  I noted in the previous post in this series, “Clearly there is something else – something bigger – that is holding us back … .”

That bigger issue is B2B marketing leaders’ lack of an operations mindset.

This is the issue that B2B marketing leaders – especially CMOs – often can’t put their finger on, but that is at the core of much of our modern challenges.  They talk about not being able to demonstrate the revenue impact of marketing; they talk about not having ‘hard numbers’; or they speak to not having a dashboard to really visualize marketing results.  Obviously none of these ‘wants’ represent an operations mindset, per se, but they do represent the result of successfully managing demand as a process.

So how do B2B marketing leaders typically remedy this situation?  They invest in technology, but when it comes to their marketing programs, they continue to do ‘more of the same.’

Therein lies the disconnect, as I note in Balancing the Demand Equation:

The disconnect:  If as B2B marketers we are applying legacy mass-marketing, top-of-funnel techniques to the effort of customer acquisition and nurturing in an era of Buyer 2.0, there is a high likelihood that we will have a single, ineffective touchpoint with our buyer and then subsequently lose his/her engagement as (s)he goes through the buying process.  Most of our demand generation programs thus remain highly inefficient, largely focused on awareness, and so we consistently lose track of warm leads that literally ‘leak’ out of our sale funnel, as Forrester has noted in its research.  This is particularly problematic because Buyer 2.0 is moving forward in the buyer education process and will make a purchase, but if our B2B demand generation program loses touch with that buyer, the chance of him/her purchasing from us is greatly decreased.

Most B2B marketing organizations thus do not have a top-of-funnel problem.  What they really have is a ‘middle-of-the-funnel’ problem.

This is why our B2B demand generation efforts cannot be haphazard or intermittent; instead, they need to be consistent and continuous processes.  …

Yet it is exactly this type of a consistent and continuous B2B demand process – one that perpetually operates to move a buyer through multiple education and qualification stages (adjusting to the pace of the buying cycle), that combines both automated and live touch points and that only turns a lead over to sales after sufficient processing – that B2B marketing leaders are challenged to build.

We want a lead factory – a construct that requires understanding and enabling the multiple processing stages required to take in raw inputs and to churn out a finished product – but instead we deliver a series of ‘stage shows.’

What is at the core of this issue?  It has nothing to do with good intentions; rather, it is the product of biases that are deep-rooted and fundamentally engrained in B2B marketers.

  • First, right-brain/creative types are often drawn to marketing, not left-brainers.
  • Second, marketing training at the vocational and academic level is focused on channels and tactics and on building consumer brands, but rarely speaks to the orchestration and coordination of multiple channels and tactics in a sequence to drive buyer dialogue.
  • Third, on the off-chance a B2B marketer has some operations-analysis experience, it was probably garnered either in an MBA class or in an industrial setting, and it was probably applied to some sort of manufacturing process – meaning it never ‘clicked’ that this could also be applied to marketing.
  • Fourth, the opportunities and challenges around such a complex, iterative and information empowered Buyer 2.0 are relatively recent; meaning, it truly is a changed world of marketing today from five years ago or ten years ago, when more ‘one-and-done’ tactics in more limited channels might have actually been a successful route.

It’s time for our training, bias and ultimate mindset as B2B marketers to catch up with our operational reality.  So where do we need to focus our time and attention to drive change?

(more…)

Read Full Post »

Just before Thanksgiving I published the second installment in a two-part series on the “Elements of a Modern Demand Generation Plan.”

I’ve done a number of posts over time on the various holistic elements that go into successful B2B demand generation here on Propelling Brands, on the Silverpop Demand Generation blog and more recently on the Left Brain Marketing (LBM) DemandGen (r)Evolution blog.

Yet I note in this new LBM post that despite all the tips and tricks out there in guides, blog posts and Tweets, for a lot of marketers there still seems to be a ‘glaring gap':

How do you build a modern demand generation program? What does that entail? Where do you start? What are the keys to success?

I think this is the real disconnect for many B2B marketers today. They do not really understand what it looks like to architect an entire, modern demand generation program, end-to-end – one that is appropriate for a marketing environment in which power has shifted from sellers to buyers and where Web 2.0 realities predominate. These B2B marketers need a way to sort out how all of these tactical systems and advice in blog posts and through consultants all come together in a real program.

I argue in the first post in the series that starting place should be a thoughtful and comprehensive demand generation plan. I then proceed to outline the initial research and analysis required to start with developing your plan — a first step in the process I refer to as establishing ‘buyer-targeting context.’

Source: Left Brain Marketing; click to enlarge

I then use the second post in the series to explain how you translate this initial research and analysis into actual demand generation programs — a second step in the process I refer to as ‘program translation.’

This is the same process we go through with clients of Left Brain Marketing to help them develop their own demand generation programs, so the content of these two posts is well-grounded in reality.  (I also provide a number of slides right out of our decks as illustrative graphics in part two.)

I end the second post by noting:

There is certainly more to say around the details and best practices of building out your sub models and of operating and refining your demand generation program. … Nonetheless, I hope this post and the previous one represents a good starting place for wrapping your head around how to approach and build a successful demand generation plan.

And I really do believe these two posts are a good starting place — and a comprehensive reference source — for your own B2B demand generation programs.

Click here to read the full part-one post on LBM DemandGen (r)Evolution; and click here to read the full part-two post.

Read Full Post »

A little over a week ago I dug into an important topic on the Left Brain Marketing DemandGen (r)Evolution blog.  How can we improve our approach to lead nurturing as B2B marketers, and in doing so, how can we improve the effectiveness of our B2B demand generation programs?

Source: Left Brain Marketing; click to enlarge

Despite increasing adoption of marketing automation technology, “[w]e’re really bad at lead nurturing as B2B marketers,” I explain in the post.  I subsequently dig into the disconnects, and I recommend a strategic ‘layered’ approach to rationalize nurturing programs.

So where is the gap in our lead nurturing?  In the post I look at three realizations that are critical to successfully developing and positioning your lead nurturing.  Specifically, it’s critical for B2B marketers to realize:

  • Nurturing is a strategic activity, not a tactical one
  • Nurturing balances targeted buyer education with buyer qualification; it is two-way communication
  • Successful nurturing is aligned with, and supports the buying process

The resultant call-out is the need for a model to better think through how to build a successful lead nurturing program – balancing lead-flow goals with the need to engage the modern B2B buyer and giving you a foundation for building out nurturing tracks within your marketing automation system.

My ‘layered’ model – which the post explains in more detail – is one approach to rationalizing and organizing your lead nurturing tracks as part of your overall B2B demand generation program.   (And it is something we are leveraging at Left Brain Marketing in our client engagements.)

In the post I note:

Successful lead nurturing requires thinking in terms of a matrix of potential content offers and reactions on the part of the B2B buyer – all of which are designed to help support the buying process, accelerate decision-making and orchestrate content dialogue with that buyer. 

It’s impossible to envision every single choice a buyer will make in every situation, but you can understand if a  buyer is ‘on track’ or off, and have an approach to getting buyers back on the right track.

Click here to read the full LBM DemandGen (r)Evolution post.

Read Full Post »

I examine the issue of what we as B2B marketers mean by ‘demand generation’ and explore why there is so much disconnect around the current definition and scope of demand generation in my first post on the new Left Brain Marketing DemandGen (r)Evolution blog.

Source: iStockphoto

The idea for this post came after “some interesting, recent interactions with marketing and sales professionals around the concept of demand generation.” I note in the post that “… these interactions have led me to believe this concept is nothing short of highly misunderstood.”

So I put a stake in the sand with this post – asserting my belief that demand generation is a strategic activity; that it is in fact the charter of B2B marketing; and that it spans and should be defined in terms of our holistic interaction with buyers throughout their buying lifecycles.

“It’s the art of educating buyers and nurturing these relationships from earliest awareness through to maximizing customer lifetime value.  It’s about sparking, nurturing and monetizing initial demand; it’s also about sustaining and growing that demand among current customers.  It’s the whole thing.”

The post subsequently analyzes three aspects of this issue:

  • One, it looks at exactly why there is this disconnect among B2B marketers in the definition and scope of demand generation.
  • Two, it examines ongoing evolution in our definition of demand generation.
  • Three, it identifies what I believe are the three critical components of successful, modern B2B demand generation.

Click here to read the full LBM DemandGen (r)Evolution post.

Read Full Post »

Follow

Get every new post delivered to your Inbox.