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Posts Tagged ‘service-oriented architecture’

My recent blog post on the inbound marketing / marketing content management crowd has gotten me thinking quite a bit about the holistic lifecycle of leads and of the role of marketers in this process.  The rapid ‘death’ of the consultative sale means that marketing organizations increasingly are playing a more-pervasive role in the lifecycle of leads – blurring the traditional lines between marketing and sales organizations.  “Who builds a [target] list, is it a sales person or a marketing person?” posed Rand Schulman, CMO of InsideView, in a meeting with me in his office in San Francisco a little over a week ago.  Good question.  Also, how should this list be built?

The new marketplace reality requires marketing organizations and their technology systems to be more engaged than ever before in all aspects of lead generation and of lead nurturing.  Thus, an emerging key partner for marketing organizations is the growing roster of what I refer to as the ‘online compiled lead sourcing providers.’  The roots of this category are grounded in the world of opt-in target list builders, prospect data miners and syndicated lead directory/database vendors – this traditionally included firms such as Dunn & Bradstreet (D&B), as well as media organizations and the credit bureaus.  This industry has evolved, though, and it increasingly looks more different than it once did, with an explosion of new market entrants and of new techniques for sourcing and aggregating prospect insight.  Today this emerging group includes firms such as Demandbase, idExec, Jigsaw, Lead411, NetProspex, OneSource, SalesGenie, Selectory (a D&B company), Zapdata (also a D&B company) and ZoomInfo.

It’s a pretty exciting time for this segment, but it’s worth tempering the excitement a bit – making sure we’re analyzing these providers in the context of where they fit into the overall marketing mix.  As with any new data or system provider in the world of Marketing 2.0, these providers are not a panacea.  Leads can come from many sources, and it’s important to recognize the trade-offs.

Source: Adam Needles, Propelling Brands (original); click to enlarge graphic

Source: Adam Needles, Propelling Brands (original); click to enlarge graphic

The new marketplace reality, thus, also requires marketers to assess all of their lead-generation-oriented marketing programs against a number of alternatives and in the context of the net impact of these programs.  As I was thinking through this, I built this chart to conceptualize the landscape.  On the x-axis I have made a relative assessment of the net credibility various programs bring in the eyes of the prospect – i.e., the degree to which a lead is pre-disposed to being interested in that brand-company and a relative indication of how hard marketing and sales will have to work to nurture a lead.  On the y-axis I have made a relative assessment of the net estimated cost per lead of different types of lead-generation-oriented marketing programs.  In doing so I considered both time and money, as it is critical to look at both.  For example, inbound marketing may have low dollar cost but it is not a no-cost activity; successful content and engagement requires time and energy, which translates into real dollars via salaries, overhead, etc.  This is why I have it at roughly the same cost level as paid sourcing.  What do you think about this matrix and where I’ve placed various types of marketing programs?

I hope this framework helps you better think about where the online compiled lead sourcing providers fit into the mix and provides a frame of reference as you dig into the status of this segment.  I believe it is particularly instructive because it speaks to some of the opportunity for evolution in this segment and is indicative of the segment’s overall trajectory – particularly predicting moves that will help improve the net credibility of leads while maintaining low net cost per lead.

So what’s new with the online compiled lead sourcing crowd, and how do we break down the vendor landscape?  Moreover, how are they innovating to keep pace with the tidal wave of change in integrated marketing management technology?  And what does this mean for marketers?

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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?

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Marketing via word-of-mouth, social networks and brand communities is not new.  Effectively leveraging social media technologies both in support of these marketing initiatives and as part of an ongoing, two-way customer-brand dialogue, however, has emerged as a burning issue on marketers’ minds. 

Social media technologies, themselves, certainly have their own learning curve, but the greater learning curve for marketers is contending with the fundamental power shift in the customer-brand relationship that social media technologies are enabling.  Thus, recognizing and responding to the new reality that individual customers and brand communities increasingly define (and have part ownership over) brands requires a fundamental shift in our approach to bringing products and services to market.

IBM Press

Source: IBM Press

IBM executive Sandy Carter is a forward thinker on this issue whose experiences and industry dialogue eventually led her to realize that marketers need a new set of tools if they are going to better contend with this power shift.  Her new book, The New Language of Marketing 2.O:  How to Use ANGELS to  Energize Your Market, delivers just such a ‘tool box’ for marketers — presenting a normative framework, together with numerous case examples from companies in a variety of B2B and B2C industries, to help marketers think through these challenges inside their own businesses.

Few are as well-equipped to tackle such a subject as Carter, who has had an impressive career in the enterprise software arena and who currently is IBM’s Vice President, SOA and WebSphere Marketing, Strategy and Channels.  In this role, she is responsible for IBM’s cross-company, worldwide SOA initiatives and is in charge of one of IBM’s premier brands, IBM WebSphere, which under her leadership has shown strong growth.  She also led her global marketing organization to garner 14 industry marketing awards in 2007.

What is Marketing 2.0, and what are Carter’s thoughts on how marketers can gain leverage in the dizzying world of social-media technologies to energize their marketing programs?

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We are officially launching this blog, and as is customary in the blog-o-sphere, we thought we would take a few minutes to give readers a sense of the blog’s focus, differentiation, contributors and agenda.

 

What is the focus of this blog?

This blog is focused on the topics of brands, marketing, innovation and technology – separately and together, in parallel and as they collide … and one of the firm beliefs of the folks behind this blog is that they ARE colliding.  This is requiring brand and marketing leaders to retool, but it also means that those developing new innovation and technology – especially software companies – need to retool.  A revolution is coming!

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