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Deriving Intelligence From buyers actions A presentation for Data Marketing 2015
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• Mathew Sweezey (only one “T”) • Principal of Marketing Insights for Salesforce • Author of “Marketing Automation for Dummies” • Writer for Clickz.com @msweezey This presentation will be covering a lot of slides in a very short amount of time. If you would like to follow along on your device please find my slides posted to twitter under @msweezey.
Q A We asked 5000 B2B and B2C marketers this question: What is the biggest problem marketers face? They said: (http://www.salesforce.com/research) #1 New Business Development #2 Quality of leads #3 Keeping up with trends
Q We asked 5000 B2B and B2C marketers this question: A How do we drive business amidst an entirely new consumer landscape? What is the biggest problem marketers face?
A P Dynamic and predicative engagements across all channels. This answer presents a major set of problems for you. Predictive and dynamic content is only as good as your content, and what you are able to derive from engagement with it. If you can not decipher what a consumer desires you can’t fulfill their desire no matter what buzz word you use!
There is more computing power used in a single Google search than all of NASA had in 1969 to land a man on the moon. -Google research team have the Empower Theythey knowpower And How to use it. Buyers
Instant access to consumer generated content fulfills a human desire of belonging. The Noise you create does not have any place in Maslow’s hierarchy of needs. Yet, consumer generated content does. Needs Change With Mobility More people in the world have access to a mobile phone than have access to clean drinking water or electricity. They use it to fulfill human needs.
Limitless Media This is over 12 hours per day, acrosslife, multiple screens. Tangling up work Is very diﬀerent personal life, and everything else together.
“A” or “B” How do you manage your email in box?
“We now disqualify before we qualify” We are faced with so much content we now disqualify content before we even begin to qualify it. This is a technique we learned on our own (heuristic) and use it as the standard way we now filter large sets of data.
1.5 Forester estimates for every 100 leads a B2B company generates, best in class only converts 1.5 into revenue. 100 leads Our systems For every generates an aveerage of them company they close .7 into actual business. Don’t work
70% Massive Ineﬃciencies Of content a business creates never gets utilized. - Sirius Decisions Content product is the largest single item in a marketing budget at 16% of the total budget. This is a result of the modern buyer and the marketer owing 80% of the sales cycle by 2020.
“We must operate in realities not abstractions of reality” –Peppers & Rogers One to One Marketing In their 1993 books “The One to One Future”, Peppers and Rogers state outline the fundamentals of the future of marketing in a personalized way. This book is a must read! PHOTO: Their acceptance into the DMA hall of fame
To derive intelligence we must understand new techniques. Now it’s time to go over the ways in which you can deduce what the customers are actually thinking and use this to provide a true one to one experience across any channel, or device.
01 Stage Based Theory Content must be made relevant to the buyer at the stage of the lifecycle they are in. This is extremely important for both you and them.
Q A We asked 400 B2B buyers the following questions: Have you ever been disappointed by content you’ve engaged with from a brand? Survey says: 71% of them said, “YES”. hWp://www.clickz.com/clickz/column/2349580/71-‐percent-‐of-‐buyers-‐have-‐been-‐ disappointed-‐by-‐content#
Q A We asked those buyers a follow up question: How did the negative experience aﬀect your relationship? Survey says: 25% said they never would engage with the brand again. hWp://www.clickz.com/clickz/column/2349580/71-‐percent-‐of-‐buyers-‐have-‐been-‐ disappointed-‐by-‐content#
My First White Paper I wrote my first White Paper in 2007. spent 3 weeks writing a white paper. I tried to answer all buyer questions at once. Create the pain, make you want to solve the pain, and why you should buy from us.
“A” or “B” How do you down load data?
“We batch research”
Batch Research Defined Daily content consumption. Usually is Learn, and Escape. Happens across all media channels. How we engage with Research content. Read this: hWp://www.clickz.com/clickz/column/2285540/new-‐research-‐deﬁnes-‐buyers-‐journey-‐ to-‐3-‐steps
Break it into buyer stages If you break your white papers up into buyers stages then your white paper is more likely to appeal to a person in a specific stage, it will also then tell you which stage the buyer is in via “Self Selection”.
This How to map data is based on aggregate to consumer research. The only way determine what your buyers need Your stages and want is to ask them.
02 Desirable Content The human desire has shifted over time, yet our marketing practices are still based on the idea of mass publication is valuable to consumers. We must re learn what consumers desire, and what creates a valuable relationship for them.
Nobody Ever Said “I want content” They decide engage with content to solve goals, they engage with it because it aligns with their purpose Media Brands? The worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. We need to be relationship brands.
Edward Bernay’s created Public Relations after learning from his uncle Sigmund Freud the power of the unconscious mind. He create a new form of strategic marketing which built relationships between products and consumers inner desires. Relationships focus Building relationships withwhat we inner desires on Human Desire consumersfocused on is should be
“Our job is to connect with people, and leave them better off than when we found them” - Seth Godin Permission Based M T o this Experiences Wrote “as Don Peppers who arke4ng” in 1“999. Ohe ftorward Ftuture” book w co-‐authored The ne o One et, Are Made of wriWen in 1993. Yass dmost of us just see “Content” as something “Content” we create and m istribute.
More is not inﬂuential There is no correlation between publishing more often and influence the content has with in a persons life, or with the relationship you have with the consumer. The idea of more content is better is a total red herring.
“Consumers want honest and authentic experiences” -Joseph Pine II Author of the Experience Economy, Authenticity, & Infinite Possibilities
“Consumers want honest and authentic experiences” -Joseph Pine II Author of the Experience Economy, Authenticity, & Infinite Possibilities
Honest experiences help them fulﬁll their inner desires, and discover their purpose. Path to Purpose Google research done in 2013 proves it is no longer a linear journey to purchase, but rather helping consumers meet their purpose. When you do you increase purchases by 42%.
Content is contextual to the moment………
Fight Boredom PEW research found that 51% of the time a CEO picks up their mobile device because they are BORED. We use the internet to fight boredom. This is the purpose at that time. It can lead to other things via passive discovery.
Escape ! People wanting to escape will lean on self discover and social channels. They are looking to escape their work, life, job, and take a short break. No barring on sales readiness. However the escape must be an honest, escape. It can not be contrived by a business, but must be found by the person.
Kronos Case Study Kronos, a workforce management software company, uses a weekly comic to engage with their audience. Their comics are consistently shared on LinkedIn two to 10x more than their corporate blog posts. Read this article for more on creating humor in your content: http:// www.clickz.com/clickz/column/2389218/create-better-content-via-humor
Discover Things The top 5 websites in the world are all “Search Engines”. We use search engines to discover things, but actively and passively.
Discover! Discovery is one of the greatest gifts of the internet. We have both passive and active discovery modes. Active Discovery: Direct searches on the internet Passive Discovery: When you scroll down in Facebook
“Mass Publishing is the lowest form of value the internet provides” -‐David Weinberger ( Co-‐author of Cluetrain Manifesto) Self Discovery The highest form of value the internet provides to a human is self discovery. The instant nature to find what ever, and fulfill any purpose or desire instantly.
Active Discovery Anytime you do a search you are engaging in “Active Discovery” This is when you are looking, seeking, or wanting to find a specific item. “Amazon.com strives to be the e-commerce destination where consumers can find and discover anything they want to buy online.” – Jeff Bezos
Passive Discovery There is value in helping people discover things. Amazon hires 473 “Data Scientists” to study their conversions, and it’s effect on the customer relationship. If they do something look at why.
Presence! Is the content which consumers create about themselves to validate the mediated self they are projecting. Simply engaging with this is fulfilling their purpose, and is helpful, and does not require you to create more content.
Mediated Self On average we have 7.4 social channels and project a different self on each one. The value to us is in expressing our being, and having that desire validate by others. The Power of a Like!
“ “ “When you see people voting up your answer or adding their own replies in real time it makes you realize there’s a good group of people reading your stuff. I don’t get that immediate rush on my blog” -Robert Scoble, Futurist and Social Media icon
Modern Media Causing positive relationships, and a Pavlovian response to engagement. Releases Dopamine The New York Times, called Dopamine “The Molecule for Mo;va;on” in their 2009 ar4cle on neuroscience. hWp:// www.ny4mes.com/2009/10/27/science/27angier.html?_r=0
03 of Relevance System Building a system of relevance is the only way to scale personal relationships and create desirable experiences at scale required across infinite channels.
Behavioral Data You no longer compete with those in your own industry, but rather the best of those ﬁelds. Consumer are now comparing all experiences against each other rather than against their ver4cal. Psychographic Data You no longer compete with those in your own industry, but rather the best of those ﬁelds. Consumer are now comparing all experiences against each other rather than against their ver4cal. Internal CRM Data Also combine with all other internal data, created in a CRM. Single View Of Customer Buyers become highly fragmented beings across multiple channels. They are always connected, and always on. The only way to reach them is to know more about them, and understand what it takes to really be relevant to the modern buyer.
Bi-Directional Value The value you create with dynamic systems provides heightened value to the buyer but also allows you use this data for dynamic and predictive personalization. Facilitating both passive, and active discovery creating value for both consumer and producer.
of thinking conversion. Static Experiences This Is the old waycontent, and about people to it. do drive Follow Historical How we we make approach with dynamic Now take a new Logic. Stop it! journeys.
Owned Experiences Creating customized experiences also needs to happen both on your website and via the email content. Predictive Content Dynamic content suggests the best next piece of content given set algorithms of most likely engagement. +15% Revenue Companies using predicative content on average are seeing an increase in revenue by 15% because it help facilitate discovery, and fulfills modern desire.
Conclusion: Modern buyers will not respond to forced campaigns, and value self discover above all things. Creating a relationship able to support self discovery through out the buying cycle is the only way to drive demand in the future. Customer intelligence is a combination of both observed, asked, and inferred things dynamically put together providing the best experience possible. 1) 2) 3) 4) Experiences must be relevant to the moment. Moments reveal themselves though both action and data. You must have a system in place to execute in the moment. You will not know if you do not ask.
Thank you Mathew Sweezey Principal of Marke4ng Insights, Salesforce firstname.lastname@example.org @msweezey