Feeds:
Posts
Comments

Posts Tagged ‘Steve Woods’

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, today, presents an introduction to the topic and examines the issue of tracking B2B buyer behavior. ~ABN

I open Balancing the Demand Equation by commenting, “Modern B2B demand generation is failing.  Seriously.”  What’s going on?  Amid an information power shift from sellers to buyers, an explosion of Web 2.0 communication channels and raised expectations from sales colleagues and executive management, B2B marketers are finding it tougher than ever to credibly and efficiently add value in the “lead-to-revenue” process, as Forrester terms it.  I hear this challenge regularly from senior marketers and CMOs, who often are hard-pressed to show the real impact of their efforts on their companies’ bottom lines.

Where’s the gap?

There are many challenges, but perhaps one of the greatest is our frequent inability as B2B marketing leaders to conceptualize and manage ‘demand’ – used here in the classical economics sense of the word – as an operational, repeatable and sustainable process.  Stated in another way, we do not treat B2B buyer demand as something that is built via a series of optimize-able steps, through which we turn initial buyer interest into a lifetime of customer revenue.

What goes into such an end-to-end demand process?  The core organizing thread is the logic around the dialogue we plan to drive with the buyer, based on his/her buying process.  This aligns with a virtual ‘layer’ of content marketing efforts that should extend across channels, addressing various stages of the buying process.  This dialogue also should be aligned with a layer of lead qualification activities, which extend throughout all phases of the buying process.  These parallel layers of content marketing and lead qualification should align with various marketing and sales roles, spanning both automated nurturing and also live interaction at various stages of the buying process.  And the entire process should be supported by data and systems that enable the end-to-end orchestration of marketing and sales efforts to move the buyer forward.

Active demand process management thus is critical to successful, modern B2B marketing and demand generation, and yet B2B marketing leaders are only beginning to scratch the surface of doing so.

In fact, this gap was driven home as I was reading a recent pair of research briefs, written by Lori Wizdo and Jeff Ernst (Twitter: @jeffernst), both analysts at Forrester.  The first brief, “Automating Lead-to-revenue Management” by Wizdo, notes that B2B technology marketing organizations’ contribution to lead pipelines, on average, hovers at a surprisingly-low 27%.  The second brief, “The State Of B2B Demand Generation: Disjointed” by Ernst, further notes that only one in four B2B marketing organizations “… have defined a lead-to-revenue management process that their marketing and sales teams follow” and that less than 5% of aggregate marketing and sales interaction with B2B buyers rises to the level of what Ernst would consider truly “orchestrated.”

Clearly modern B2B demand generation is failing.  And all of the great messaging and creative, smart tradeshow sponsorships and new technology investments that we throw at the problem cannot help if we are unable make a critical leap.  We must be able to manage demand as an operational process.

So why haven’t we done this yet?

(more…)

Read Full Post »

I’m excited to share that my new book, Balancing the Demand Equation, is being released on Amazon a week from this Monday on September 19.  (BTW:  You can pre-order your copy on Amazon by clicking here.)

The inspiration for the book is literally the years spent as a B2B marketer saying to myself, “There’s got to be a better way.”  And so I wrote the book as a modern handbook for B2B marketers to navigate the complex, new world of Buyer 2.0, sales/marketing alignment and marketing automation.

The book provides a framework to help B2B marketers transform their demand generation approach – moving from a legacy of batch-and-blast mass marketing and of reactive ‘sales support’ to a new state of building perpetual, buyer-centric programs that contribute to predictable and sustainable revenues for their organizations.

Click here to download a PDF overview of the book and its table of contents.

I’m also excited to share some early reviews of the book by some pretty well-respected names in the marketing and sales arena.

Jim Lenskold (Twitter: @JimLenskold), President of Lenskold Group and Author, Marketing ROI: The Path to Campaign, Customer and Corporate Profitability, wrote:

A must-read book for B2B marketers ready to drive bottom-line results and truly deliver marketing ROI through better management of the complete purchase funnel. Balancing the Demand Equation provides guidance on marketing’s increased role in educating, engaging and nurturing sales-ready leads in today’s world of marketing operations, automation and outcome-based metrics.

Robert L. Jolles (Twitter: @Jolles), President of Jolles Associates, Inc. and Author, Customer Centered Selling, wrote:

Finally! A roadmap to help B2B marketers understand the modern buyer and pioneer successful, customer-centered demand generation programs.

Thomas C. O’Guinn, Ph.D., with the Center for Brand and Product Management at the University of Wisconsin–Madison wrote:

This is a very smart book on a very important topic. Anyone who knows much about B2B marketing knows that almost everything written on it is just a round-peg-square-hole ‘fit’ of B2C knowledge, or a worked-over sales management PowerPoint deck. They also are real slogs to read. Not this. Needles’ book is a new paradigm, and one that fits perfectly with the new realities of commerce. This is sophisticated analytics, content creation and REAL customer relationship management. If a company were to seriously adopt this model, they would make a lot more money. No kidding.

Ann Handley (Twitter: @marketingprofs), Chief Content Officer of MarketingProfs and Co-author, Content Rules: How to Create Killer Blogs, Podcasts, Videos, Ebooks, Webinars (and More) That Engage Customers and Ignite Your Business, wrote:

Dear B2B Marketer: Your world is changing, and here’s the field guide that shows you precisely how to adapt.

Steven Woods (Twitter: @stevewoods), CTO of Eloqua and Author, Revenue Engine, wrote:

In Balancing the Demand Equation, Needles weaves together a well-crafted B2B demand generation framework, at both the strategic and tactical level, that shows executives a clear path to more-predictable and more-sustainable revenue outcomes. Grounded in case studies and detailed research, the book provides specific guidance and critical insights for getting the most out of marketing automation investments, while never losing sight of the strategic change towards buyer-centricity.

Sincerest thanks to these folks for taking the time to review — and in some cases even contribute to — the book.

And I look forward to your own feedback to the book over the coming weeks!

Read Full Post »

A little over a week ago I published my latest post on the DemandGen (r)Evolution blog – “Dreamforce 2010: Demand Generation Insights ‘from the Cloud’” – a round-up of my takeaways from this year’s Salesforce.com Dreamforce event in San Francisco.

For those of you who are not familiar with Dreamforce, you might be asking, ‘Why a write-up on what is (at a surface level) merely a technology user conference?  What’s the takeaway for marketers?’

Source: Salesforce.com

An obvious initial response is that Salesforce.com has emerged as one of the dominant – and one of the fastest-growing – CRM platforms in the marketplace.  That alone earns it some attention.

But beyond this, as I note in my post, “Dreamforce increasingly has grown into the annual host of two critical, interdependent and growing ecosystems – and consequently was an event filled with great demand generation insights.  …  On one hand, Salesforce.com serves as the cornerstone for a growing software ecosystem around buyer-centric, demand management software.  …  On the other hand, Salesforce.com has become the leader in cloud-based application infrastructure.  …  [And] it is this cloud-based approach that also is critical to enabling [this] demand management software ecosystem … .”

Dreamforce also is a unique annual event as there doesn’t seem to be any “… other technology-based event that draws such a large group of sales and marketing executives – and the technology vendors that serve them – in one place, at one time for nearly a full week,” as I comment in the blog post.  In fact, “Some of my best conversations each year occur at Dreamforce, and this year was no different.”

So what were my major takeaways?  The blog post focuses on two major demand generation insights:

  • “B2B buyer insight is more-pervasive, more real-time and more-accessible via ‘the cloud,’ and marketers must learn to leverage this dynamic asset.
  • “Our role as marketers must focus more than ever on delivering leadership and visibility to help our organizations tune their demand generation machines and to ensure tight coupling with revenue outcomes.”

I also have embedded in this post a link to my Dreamforce interview w/ the DreamSimplicity video crew in which I talk more about the new impetus for ‘marketing in the cloud.’

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

Read Full Post »

The New Year’s period is always chocked-full with ‘top ten’ lists and countdowns, and unfortunately, too many blog posts and articles that come out in this period are pretty much news/information you can’t really do anything with.  Inward reflection, but not actionable; sentimental, but not really something you can leverage moving forward.

I’ve been thinking for the last few weeks that for the New Year I wanted to do a post that is action-oriented and that will help you be a better B2B marketer in 2010. 

I also believe strongly in being a catalyst for sharing ideas — which is why I started this blog — and so I thought one of the most-actionable posts I could do would be to point you to resources where you can learn from the best and brightest in the B2B marketing community throughout 2010.  The gift that keeps on giving …

    

What are my criteria for the luminaries I’ve included in this list?

I didn’t start out with a formal set of criteria, but here’s what’s emerged:

  • First, these are all people that prolifically share their insights — cross-medium.  They Tweet, they blog, they speak, they write books, they consult, etc.  And they are generous in this regard.
  • Second, their expertise centers around new strategy, innovation and technology for marketing — particularly B2B marketing — and they are truly advancing the body of Marketing 2.0 knowledge … advancements that will help us cure the ad-centric, interruptive, paternalistic Mad Men hangover that has plagued marketing for decades.
  • Third, these are people whose insights I actually follow.  There is no one on this list whose insight I would not personally recommend and whose own books, blogs posts, Tweets, etc. I do not personally read.
  • Fourth, and in all honesty, all of these folks — except for one — are on Twitter.  Because if you’re not, and you have any insight into Marketing 2.0 … well, get with it!
  • Fifth, I did not look at anyone else’s ‘top influencer’ list in putting my own list together, nor have I feigned reverence to others’ ideas of who is a thought leader … and who is not.

Disclaimer 1: This list may or may not be exhaustive, and it may or may not include people you think should be included on this list.  So don’t be offended if I’ve left someone off.  I probably have, and so I’ll endeavor to add additional people in the comments area below.  And you should too!

    

Who made the list? 

So who has new and innovative insights for ‘propelling’ B2B brands going into 2010?

(more…)

Read Full Post »

The Internet changed everything … especially for marketers.  Now more then ever, customers have a million tools and information sources at their disposal, and the power balance has forever shifted to the needs of the customer versus that of the brand-company and its products and services.

Customers are now driving the marketing process … in case you haven’t heard.

The consequence for us as marketers (and our role in demand generation) is that our fundamental posture must change.  Yes, it remains increasingly important to get the attention of your customers and to ‘rise above the noise,’ but it also is increasingly important to be a better listener and observer – catering to the needs, preferences and timing of your customers.  I liken our new role as marketers to being similar to the attentive and omnipresent, but unobtrusive, waiter at a five-star restaurant at The Ritz-Carlton or the Four Seasons – standing by and ready to cater to the customer’s every need and knowing exactly when (s)he wants something.  Fortunately, the same Internet domain that has made our job tougher as marketers can also be a source of new and valuable insights into customers’ ‘digital body language,’ as Steve Woods (Twiter: @stevewoods), CTO and co-founder of Eloqua, calls it in his new book, (not coincidentally titled) Digital Body Language – Deciphering  Customer Intentions in an Online World.

Source: New Year Publishing

Source: New Year Publishing

Steve Woods is a forward thinker who has spent the last decade of his career learning about and building systems to help marketers better leverage insights into customers’ digital body language.  His book is the culmination of his domain expertise and years of experience in software architecture, engineering and strategy for marketing systems, as well as his track record of client successes since Eloqua’s founding in 1999.  This expertise, experience and track record led to him being named one of Inside CRM’s Top CRM Influencers in 2007.

Prior to co-founding Eloqua, Woods worked in corporate strategy at Bain & Company and engineering at Celestica.  Woods holds a degree in Engineering Physics from Queen’s University in Kingston, Ontario.

So what does it take to better understand digital body language, and how as marketers can we better leverage digital body language to improve our delivery to customers, our collaboration with our sales-team colleagues and our fundamental ability to drive demand generation?

(more…)

Read Full Post »

This is the second in a three-part series of posts on integrated marketing management platforms.  The first post identified the strategic need for integrated marketing management, mapped this to key marketing ‘pain points’ that these systems address and provided an overview of the disparate technology camps that are vying to deliver robust integrated marketing management platforms to marketing organizations.  Click here to view the first post, “Marketer’s Needs + Technology Landscape.”

Today’s post will present high-level thoughts for marketers on approaches to analyzing their needs and to selecting a platform that is the right ‘fit’ for their organization.  The final post in this series will present snapshots of the top 20 vendors I’m watching and that I believe are representative, forward-thinking leaders in this segment.

    

What should guide your decision to purchase an integrated marketing management platform? 

Let’s start with the basics:  What are your fundamental business goals?  And what marketing programs have you deployed to achieve these goals?  Ideally you want to invest in technology infrastructure that can help you achieve your business goals, that mirror your marketing programs and that (when all is said and done) can help you measure the impact that you made in reaching this goal.  Seems straightforward … except (and let’s not sugar coat this) … marketing processes and communication flows are complex and borderline ‘ugly’ when it comes to the level of complex, integrated execution and monitoring involved.  This means that your technology infrastructure must be able to handle this ‘ugliness.’ 

Source: iStockphoto

Source: iStockphoto

That brings us to the more advanced issue in evaluating the purchase of an integrated marketing management platform:  “How do I bring method to the madness?” as Market2Lead CEO Geoff Rego framed in a phone interview.  Whereas focus should rule the day in marketing strategy and planning, robust capability and the ‘kitchen sink’ factor should, in part, guide your technology decisions.  You want a platform that can give you real leverage.  In fact, you probably need more than you think you need.  And you can’t ‘wimp out’ when it comes to digging into this decision; this is a system that will become your lifeline; nor can you simply go with the marketing technology equivalent of ‘Big Blue’ (because no one got fired for buying Big Blue, right?).

“One thing not to do is to look at a generic list of the ‘top three’ products or ‘industry leaders’ and refuse to consider any others,” comments industry analyst David Raab in a white paper, titled “Three Differences that Matter in Demand Generation Systems.”  Raab continues, “On the other hand, few marketers have the time or inclination to perform an in‐depth technical analysis of several dozen demand generation systems, or even to document their own needs in detail.”

So then what is the middle ground, and how should marketing organizations approach finding the right ‘fit’ for their organization … without having to build CIO-level expertise and while staying true to their current, successful (but not fully leveraged) marketing processes?

(more…)

Read Full Post »

This past November I posted a blog piece, titled “Top 20 Cross-channel Marketing Execution Platforms?”  The piece was a call for input on the state of technologies that assist marketers in running complex, cross-channel, integrated marketing communication programs that ultimately are focused on delivering one thing – customer sales.  These technologies are becoming more critical to marketing organizations over time.  Why?  Chaos:  Rapid growth in Internet-based communication mediums has led to a power shift in the buyer-seller dynamic; marketers have never been at a greater disadvantage.  Meanwhile, their roles and campaigns are becoming more complicated.  At the same time, they are being asked for greater, real-time visibility into results and marketing ROI as never before.  “The online world … has refused to stay in a nice, little box,” commented Scott Brinker on his Chief Marketing Technologist blog in October.  “[It] has exploded into millions of microchannels, with few boundaries, in constant motion, with people sloshing freely among them — often under little or no direct control of the marketer.”

Since my first blog piece on this topic, I’ve gotten some great feedback from folks in the industry, have spoken with nearly a dozen technology vendors and have digested quite a few recently-published books on the subject, including Sandy Carter‘s The New Language of Marketing 2.0, David Raab‘s Raab Guide to Demand Generation Systems and Steve WoodsDigital Body Language — all great reads.  This process has helped to evolve my earlier thinking – validating some initial observations but also changing others.

Adam Needles, Propelling Brands (original)

Source: Adam Needles, Propelling Brands (original)

A key revision from my first piece is a re-thinking of my taxonomy for classifying this technology group.  First, it is clear that a centralized, intelligent and automated layer is emerging at the heart of the continuum of marketing systems (see diagram), and this layer serves a critical functional role in integrating high-level strategic management with tactical execution.  I have chosen to refer to this layer as integrated marketing management.  Second, it is clear that there are several existing software ‘camps,’ with different roots, aims, legacies and constituencies, that are both converging on and vying for this core integration and management layer.  These camps include:  demand generation, marketing automation/enterprise marketing management (EMM) and advanced customer relationship management (CRM).  While each comes at this layer from a different angle, the lines between these systems are blurring and their features and capabilities are increasingly quite similar.  Yet these camps remain important points of distinction and differentiation today because they are how many vendors classify their systems, and they help to understand both the strengths/weaknesses and the capabilities/gaps of these vendors systems.

The result is a complicated decision-making environment for marketers that want to harness the capabilities of integrated marketing management.  “Now everyone is trying to tie it all together, [but] you wind up with a weird gulf in buyer expectations,” commented Steve Woods, CTO of Eloqua, in a phone interview.  “Marketers aren’t used to doing this evaluation.”

That is why I’m writing about this topic.  As a marketer, who has taken the time to become more educated about this space, I’d like to help lift the veil off of what is perhaps the Holy Grail of marketing – having IT systems that actually provide leverage to your integrated marketing activities and processes, rather than just drowning you in more data and execution responsibilities.

So what is an integrated marketing management platform, how can it help marketers, and who are the top vendors in this segment?

(more…)

Read Full Post »

Follow

Get every new post delivered to your Inbox.