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Posts Tagged ‘marketing ROI’

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.

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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.  The second post identified why technology, alone, is not enough to improve B2B demand generation.  Today’s post looks at the second challenge — exploring our continuing struggle as maketers to link marketing tactics to revenue outcomes.  ~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 #2:  We still struggle when it comes to linking our B2B marketing tactics to revenue outcomes; thus, we have a hard time proving (and better targeting) the specific impact of investments in content offers and demand generation programs.

The Web 2.0 world has substantially changed the dynamics between sellers and buyers – changing the information consumption patterns of B2B buyers and resulting in a new era of buyer power.  One dynamic is the emerging importance of content and the impetus to adopt new content marketing processes

But we need to be able see the linkages between content consumption and revenue outcomes – both elasticity and ‘critical path’ – within a given persona’s buying process if we are going to be able to develop sophisticated content-based nurturing.  Yet seeing this type of linkage is in fact the Achilles heel for many B2B marketing organizations.

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You may have noticed less-frequent posting activity here on Propelling Brands over the last few months.  It’s not that I’ve been blogging less; rather, it’s the challenge of being asked to contribute blog posts to a growing number of channels.  These include the Demand Generation blog for Silverpop (where I’m Director, Field Marketing and B2B Marketing Evangelist), the Daily Fix Blog for MarketingProfs (where I’m a semi-regular contributor on marketing automation topics) and several of Silverpop’s partner blogs, including The Annuitas Group blog, for which I have done occasional postings.

Source: iStockphoto

The truth is, I’m blogging more than ever — just in lots of different places.  I’m also very active on Twitter (you can follow me on Twitter via my handle, @abneedles), which has truly become a microblog on what I’m seeing and hearing in the B2B marketing world.  Add to this quite a few live and virtual speaking engagements over the past year on a variety of B2B marketing topics … and you can see it’s been a busy last 12 months.

Given this, I wanted to accomplish two things with this post: 

First, I wanted to let you know I’m going to be shifting the role Propelling Brands plays in my writing and speaking over the coming months.  I plan to get back into the rhythm of doing original, ‘deeper-dives’ on key strategic marketing topics at least once a month, so these will continue.  I’m also going to begin posting summaries and links to my posts elsewhere, as well, so that I can consolidate all of my writing about B2B marketing to one location.

Second, I’m kicking off this shift by posting an index of all of my B2B marketing posts I’ve done over the last 12 months — both here on Propelling Brands and on other blogs …

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I’ve been pretty heads-down over the past few weeks, analyzing the data and results from my graduate research and also working on my upcoming book.  As I’ve dug into the data, there clearly are some self-evident themes emerging around marketers’ opportunities and challenges with adopting strategic marketing systems and technologies (which I will be covering on this blog in more depth over the coming weeks).  One of the clearest themes is the great chasm that exists between aspiration and reality for marketers when it comes to marketing measurement and the analysis of marketing return on investment (ROI).

My research found that these topics are top of mind for marketers, and many state their organizations are already beginning to engage with analytics software.  When asked about tactical/operational objectives for new technology deployments, measurement and ROI analysis are at the top.  This is consistent with a new Lenskold Group / MarketSphere report, released this week.  “Current economic conditions are putting pressures on marketers to better understand their marketing effectiveness as 8 in 10 marketers (79%) report that the need to measure, analyze and report marketing effectiveness is greater in 2009,” according to the press release for the report.

Yet my research found that the same marketers give their organizations low marks on analyzing performance and overwhelmingly comment that their organizations are ‘not aggressive’ when it comes to marketing technology investments.  Aspirations are high, but the reality of investment in systems and technologies to deliver on the aspiration is low.  This also was echoed by Lenskold/MarketSphere, which further commented in their release, “[B]udget pressures are evident with 6 out of 10 (59%) indicating that this higher demand for measuring marketing effectiveness is not budgeted for … .”

The reality is that marketers cannot get enough of systems and technology to tackle measurement and ROI analysis; they have barely scratched the surface.  Far from solved, this is an issue that has only become more important and yet more complicated over time.  Customer channels are exploding in number, and yet marketers are incapable of delivering measurement and ROI analysis that takes this new reality into consideration.  “Buyers are multichannel beings.  Buying cycles are cross-channel,” comments Akin Arikan in his recent book, Multichannel Marketing.  “Yet online and offline marketers still perform their measurements of success in isolation.”

So what are marketers’ aspirations; where is the disconnect; what are their challenges; and what are potential strategies for overcoming these challenges?

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