Grow Revenue with the Right Marketing Strategy
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Today, mobile, social and cloud technologies are transforming the customer experience and putting customers in control. In this digital age, marketers must always be improving marketing execution with an eye toward growing revenue. Listen in to our webinar with guest Laura Ramos, Vice President and Principal Analyst at Forrester Research, and Matt Zilli, Senior Director of Product Marketing at Marketo, to discover why the next wave of competitive advantage will favor firms that obsess over their customers’ experiences and deliver what buyers want before competitors do. Learn how marketing strategies that leverage automation can transform the customer experience and grow revenue in the digital age.
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Grow Revenue with the Right Marketing Strategy
- 1. Grow Revenue with the Right Marketing Strategy Laura Ramos VP, Principal Analyst Forrester Research @lauraramos Matt Zilli Senior Director, Product Marketing Marketo @mattzilli
- 3. We know… Your Customer is Leading the Way 81% of consumers do online research before making a purchase. (GE Capital research) 74% of business buyers say buying online is more convenient. (Forrester)
- 4. Customer Expectations are High ACQUIRE GROW DELIGHT 87% of people demand a meaningful brand experience. (Edelman Consulting)
- 5. More Customer Touchpoints than Ever
- 6. Page 6 #MKTGNATION Source: Forrester NA Consumer Technographics Survey To what extent do you trust the following types of advertising/promotion? 67% Recommendations from friends and family. 21% Emails from companies or brands. 19% Posts by companies or brands on social networking sites. 14% Ads on websites. Happy Customers, Virtuous Cycles (Forrester)
- 7. In today’s world, marketing can never leave the side of the customer.
- 8. Grow Revenue with the Right Marketing Strategy Laura Ramos VP, Principal Analyst Forrester Research @lauraramos
- 9. 9© 2016 Forrester Research, Inc. Reproduction Prohibited Source: Forrester’s North American Technographics® Online Benchmark Survey, Q3 2011, Base: 57,751 US online adults 18+ Source: Forrester’s North American Consumer Technographics® Online Benchmark Survey (Part 1), 2015; Base: 61,222 US online adults 18+ Customers are always addressable 51% 2011 62% 2015
- 10. 103BDigital marketing spend by 2019 The stakes are higher than ever Source: Forrester Research Digital Marketing Forecasts, 2014 To 2019 (US)
- 11. 11© 2016 Forrester Research, Inc. Reproduction Prohibited What’s needed? Shift of mindset from campaign to context.
- 12. © 2016 Forrester Research, Inc. Reproduction Prohibited 12 Deliver experiences, not messaging Connections Touch-points Experiences Media
- 13. © 2016 Forrester Research, Inc. Reproduction Prohibited 13 Deliver experiences, not messaging Connections Touch-points Experiences Media
- 14. © 2016 Forrester Research, Inc. Reproduction Prohibited 14 It is not about filling the funnel. What this means It is about engaging with customers throughout their lifetimes. ENGAGE ASK USE BUY EXPLORE DISCOVER
- 15. © 2016 Forrester Research, Inc. Reproduction Prohibited 15 1 : Moment It’s about owning the moment Compare products Find a retailer near me Try out the features Share my experiences Buy accessories Get service/help
- 17. © 2016 Forrester Research, Inc. Reproduction Prohibited 17 Three investment imperatives that focus on context to drive revenue growth Transform CX through automation Demonstrate the impact of action on results Turn big data into business insights ─ and action $ $
- 18. Big data promises new insights discovery 38% spent more than $10M on data and analytics in 2014 Source: Forrester's Global Business Technographics® Data And Analytics Survey, 2015 65% using predictive analytics to optimize digital experiences
- 19. © 2016 Forrester Research, Inc. Reproduction Prohibited 19 Caterpillar and Deere prevent issues and help optimize equipment operations From selling tractors to selling units of production
- 20. © 2015 Forrester Research, Inc. Reproduction Prohibited 20 Grow revenue through deeper customer insight turned to action › Evolve metrics and analytics from operational to insight. › Listen to and join customer conversations. › Capture buyer information and tie it to understanding the customer’s context. › Anticipate next-best offer or opportunity.
- 21. Better CX tops executive priorities 73% say “improving our customer experience” is a top priority Only 18% regularly review CX status in business meetings Source: Forrester's Business Technographics® Global Priorities And Journey Survey, 2014
- 22. © 2016 Forrester Research, Inc. Reproduction Prohibited 22 CX drives customer loyalty, spending Customer experience consistently correlates with loyalty measures in Forrester’s CX Index studies Source: March 2014 “The Business Impact Of Customer Experience, 2014” Forrester report.
- 23. 23© 2016 Forrester Research, Inc. Reproduction Prohibited
- 24. 24© 2016 Forrester Research, Inc. Reproduction Prohibited Users provide insight into their space and design preferences Interactive tools develop initial room designs Personal consultations finalize plans and share how-tos
- 25. 25© 2016 Forrester Research, Inc. Reproduction Prohibited Frictionless Anticipatory Immersive Technology is an enabler of good customer experience
- 26. © 2016 Forrester Research, Inc. Reproduction Prohibited 26 Mayo Clinic: using mobile to help patients own their healthcare experience Source: Mayo (http://www.mayoclinic.org/patient-visitor-guide/mayo-clinic-apps-for-patients) “The new Patient app literally puts Mayo Clinic in your pocket wherever you are.”
- 27. © 2016 Forrester Research, Inc. Reproduction Prohibited 27 Grow revenue via engaging experiences that span the customer life cycle › Move developing campaigns to designing interactions. › Leverage automation to communicate and engage at scale. › Blend physical and virtual to more consistent experiences. › Encompass the entire customer experience, not just marketing and sales.
- 28. Improve marketing execution with an eye toward growing revenue
- 29. © 2016 Forrester Research, Inc. Reproduction Prohibited 29 Put focus on customers, not operations Source: “Use Marketing Dashboards To Uncover Customers' Behavior,” Forrester report.
- 30. © 2016 Forrester Research, Inc. Reproduction Prohibited 30 Business objectives drive KPI choice Source: “Use Marketing Dashboards To Uncover Customers' Behavior,” Forrester report.
- 31. © 2016 Forrester Research, Inc. Reproduction Prohibited 31 Measure holistically, across the lifecycle › It’s not a volume game.
- 32. © 2016 Forrester Research, Inc. Reproduction Prohibited 32 Grow revenue via optimizing marketing execution across customer lifetime › Shift from measuring activity to measuring outcomes that matter. › Measure the value of the entire customer relationship, not just what they purchase. › Take an account-centric focus when deal size and complexity create longer buying process.
- 33. Drive growth with strategy focused on context BEFORE CONTEXT: AFTER CONTEXT: • Campaigns • Targeting • Customer segmentation • Media schedules • Messages • Transactions • Product-centric • Interactions • Engaging • Customer recognition • Customer moments • Utility • Value exchanges • Customer-centric • Leads • Pipeline/closed deals
- 34. Thank You! Laura Ramos VP, Principal Analyst Forrester Research @lauraramos Matt Zilli Senior Director, Product Marketing Marketo @mattzilli
Notas del editor
- Update Logo.
- MATT Portland Trailblazers CX story Transition – “so what’s going on here?”
- MATT We know buyers drive upward of 66% of their journey today. They do their own research. True for B2B and B2C, across all industries. 81% of consumers do online research before making a purchase (GE Capital research) 74% of business buyers told Forrester they prefer to conduct their research and purchase online (Forrester) Your customer is leading the way. It’s not B2B or B2C, it’s B2Human…
- MATT Meanwhile, just being there in the path to purchase with a single message from a silo’ed channel isn’t enough anymore either. The cross-over between consumer and business customer expectations is pervasive. Customers expect personalized, behavior-driven experiences – regardless of your industry. They expect these experiences well past the point of purchase, too. If growing revenue is what you’re after, you have to think about retention and cross-selling or or upselling. eMarketer has published research stating that it’s 5 to 10 times more expensive to bring in new customers than to retain them. We have to grow customers and delight them as well.
- MATT And there are so many more touchpoints to consider as we put our strategy to do this together. In fact: Nielson found that 59% of U.S. smartphone owners have used their devices to research an item before purchasing it… 65% of tablet owners say the same There will be 200 billion connected devices by 2020 (Intel) 2020, it’s estimated that 90% of cars will be connected to the internet (Intel) Google CEO Eric Schmidt has said, “by the end of the decade, everyone on earth will be connected”
- MATT There’s huge upside when we do this well… customers act on recommendations. They create virtuous cycles for us. 84% of people will trust and act on a positive customer referral. (Nielson) And of course, the reverse is true. When we’re not hitting the CX mark by creating meaningful experience across touchpoints, your customers are also talking.
- MATT “In today’s world, marketing can never leave the side of the customer”… marketing taking more and more of a leadership role in the entire customer experience 86% of marketers say they will own the end-to-end customer experience by 2020. (Economist) I’m going to turn it over to Laura to tell us more about what marketers can do to embrace this new, experience-driven reality and ensure those investments are measurably growing your bottom line.
- Update Logo.
- We refer to our constant connection to the digital world as being always addressable. We’ve conducted a survey in North America for the last several years, that looks at this phenomenon. A positive response in this survey means that you connect to the internet with 3 or more devices, you connect to the internet several times a day, and you use a phone or tablet device when you are away from home or the office. In 2011, just over half of Americans self-reported as being always addressable. Last year, that number rose to nearly two-thirds.
- Source: Forrester Research Digital Marketing Forecasts, 2014 To 2019 (US)
- A marketer’s primary purpose today revolves around: What media should I buy? While a digital marketer must answer: How can I solve customer problems?
- Nobody owns the customer, but somebody always owns the moment
- Nobody owns the customer, but somebody always owns the moment
- These moments aren’t unique to mobile. Have you ever had a discussion in your organization about “who owns the customer?”. Well, the truth is, nobody owns the customers, but somebody always owns the moment. That moment could be pre-sale, viewing an ad, using a product, or requesting service.
- Laura: We believe there are four areas of investment firms need to increase or focus more on to make customer obsession real and actionable. That investment is based on these four key strategic imperatives: Turn big data into business insights to continuously improve your efforts. Transform the customer experience with a systematic, measurable approach. Embrace the mobile mind shift to serve customers in their moments of need. Accelerate your digital business future to deliver greater agility and customer value.
- http://www.autoassembly.com/automated-assembly-corporation/rfid/
- Business leaders see CX improvement as a path to revenue growth.
- UK based paint manufacturer Dulux blends interactive and in-person resources (yes, actual humans) into an inspirational design service called Amazing Space.
- UK based paint manufacturer Dulux blends interactive and in-person resources (yes, actual humans) into an inspirational design service called Amazing Space.
- Both of these examples are frictionless blends of marketing and customer experience They are anticipatory – they deliver one to moment experiences by anticipating customer needs and emotional states And they are immersive – they aren’t online or offline marketing programs. Rather they demonstrate their brand promise with utilities that integrate into customer life experiences
- (Please put in more about what goes into these measures... with CX, what do people typically measure and what questions are driving those measurements. Doesn't need to be this detailed... liked this from the research)
- Talk about continuous improvement as well.
- Update Logo. What does context mean for how we think about the buyer’s journey? How do I start to adapt my “funnel” approach to think about the lifecycle? How do I work with my IT counterparts to drive better CX? (anecdote?) If I work in a conservative industry, how do I evangelize the need to shift thinking to CX? What have you seen work?