Demand Generation (new!)

by Jon Russo Jon Russo No Comments

Part 4.  Lessons Learned in an Account-Based Approach (ABA)

 

As published in MarTech Advisor

 

In our industry conversations and experiences with over 100+ Account based deployments, we find that many marketers, particularly SaaS companies or large enterprises, believe they’re “already doing account based marketing.” When we dig a little deeper to uncover what that means, we find it means their progress is very different for a lot of companies.

 

(See article on MarTech Advisor)

by Jon Russo Jon Russo No Comments

Part 3. What kind of talent is required for ABM success?

 

As published in MarTech Advisor

As Gartner recently pointed out in their October 2017 survey, nearly half of all discretionary marketing spend is dedicated toward internal people or external agency support.

In today’s series, we’ll talk about key resources needed to successfully pull off an ABM strategy to build on our earlier ABM posts of when to create a strategy and how to convince stakeholders of the strategy.

by Jon Russo Jon Russo No Comments

Part 2 – How to convince stakeholders ABA is worth doing.

 

 

As published in MarTech Advisor

 

In Part 1 of our series, we talked about when an Account Based Approach (ABA) should be embarked upon.  In today’s piece, we’ll talk about how to enlist stakeholders that ABA is worth doing.

 

Account-Based Marketing or selling can not happen only within the Marketing department, which makes it very challenging for those of you in cultures that need to prove success out before embarking in a larger initiative. You need executive support, as well as the support of your peers in sales.

 

(Click on the link above for the rest of the article as published in MarTech advisor!)

by Jon Russo Jon Russo No Comments

Part 1 – When is Account Based Marketing needed?

 

As Published in MarTech Advisor

 

We have all heard the buzz; Account-Based Marketing, Account Based Selling, Account Based Revenue, Account Based Everything…the acronyms are plentiful.  I’ll add one more to the mix.

 

An account based approach (ABA) represents an omni-channel coordinated sales and marketing approach, one that reinforces B2B sales and marketing fundamentals, but more hyper-targeted than in times past.  It includes very personalized and customized experiences across ANY automation tool for sales AND marketing.   Analysts are catching onto this trend:

 

(See MarTech Advisor for full article)

 

by Jon Russo Jon Russo No Comments

What’s The Impact Of The New Demand Unit Waterfall?

As published in DemandGen Reports, May 2017

By Jon Russo, Founder B2B Fusion, @b2bcmo

For B2B revenue leaders that are contemplating adoption of the new SiriusDecision’s Demand Unit Waterfall, here are five impact areas on B2B strategies and initiatives to consider:

  1. Develop a data strategy: install proper data processes, match leads to accounts (Ringlead, Full Circle, Lean Data, etc.) and establish the right global account hierarchies. After Fuze CMO Brian Kardon and his team invested significant time and energy in a data strategy, his team experienced massive growth success.
  1. Embrace an Account Based approach. CMO Peter Herbert of VersionOne describes his very successful Account Based journey as, “real progress B2B revenue teams are making towards a more intelligent, proactive, and efficient way of going to market.”  This new approach reinforces a need for an ABM strategy of account identification and investments (Engagio, DemandBase, Radius, Everstring, Oceanos, Terminus, Kwanzoo, Big Willow, etc.)
  1. Align and measure. Herbert says, “B2B teams are shifting from working in silos to capture and handoff leads to working together to engage — in a more compelling way.”  Build supporting Salesforce structures, data lakes with Business Intelligence overlays like Anish Jariwala at Informatica has created, or leverage tools that measure most of this new waterfall (Engagio, Full Circle Insights, etc.)
  1. Select attributes of the buying committee but...anticipate challenges identifying the right buying authorities from scouts or key influencers, especially if roles change deal to deal. Expect assumptions and manual intervention as Sales uses Salesforce contact roles sparingly, Marketers create personas, and roles change.
  1. Retain the right internal and external talent to support this new waterfall and maximize technology investment ROI. Augment internal teams with knowledgeable external sales and marketing performance firms that extend internal strategy reach and best practice system capabilities to improve odds of visible success and to move in a more agile manner.
by Jon Russo Jon Russo No Comments

2015 Sales & Marketing Predictions: Data Relevance

Michael Dell, the founder of Dell Computers, recently said, ‘Data is the key competitive differentiator in today’s business environment.’  I believe he is right.  Data is the star of the 2015 sales and marketing show; enterprises will generate new business, optimize their current state of data, and close more deals as a result of the improvement in data quality.

According to Aberdeen, nearly 91% of B2B Enterprises have not properly optimized their lead flow process.  Proper data is a key ingredient in that optimization.  Despite data not being a ‘balance sheet’ item historically was overlooked by non-marketing executives, executives will begin to assign company initiatives to improve data as they realize the direct correlation of the effectiveness of the inquiry to close conversion process to that of the quality of data in their customer relationship management and marketing automation databases.  CMO’s career credibility relies heavily on the data quality when reporting on their impact to the business and they, too, will invest more cycles in improving the current state of their data.

From this point, companies will begin to experiment with data predictability models.   SaaS based enterprises with large volumes of inquiries and with client usage data will continue to be earlier adopters of such predictive data technology.  SaaS companies will sort out the most probable to deal close or most probable to upgrade, with other companies eventually following suit.  The overall predictive market in 2015 for marketers using data will still be very nascent (<$100M for all companies in the sales and marketing use case) but will be the fastest growth as a percentage quarter over quarter of any marketing technology in 2015.

Lastly, the term ‘Big Data’ will become increasingly meaningless in 2015 as the executive question will pivot from ‘what are we doing in Big Data?’ to ‘how can our data be used to increase productivity…increase sales…decrease customer churn…etc.?’

What do you think will happen in 2015?

by Jon Russo Jon Russo 1 Comment

Marketing Credibility: 2015 and beyond

credibility

Here is a valuable blog today from what appears to be a US head of sales in how he views marketing in his business in a tech company contrasting to a non-tech company – it can be inferred from the post that marketing’s compensation is getting tied to revenue performance, that’s where we also see the puck headed for all companies and where true marketing credibility comes into play – it isn’t just in the gymnastics or theory of SLAs, scoring, definitions, or dashboards – it’s in the output of where he (and others) can depend on marketing’s annual growth, lead contribution, and bookings for the business overall and where marketing can belly up to the bar with their own revenue contribution.

The most salient excerpt:

We are fanatical about complete sales and marketing team alignment.  In addition to corporate and product marketing, our marketing department is responsible for directly contributing to 50% of our annual pipeline growth and 50% of our new business bookings every year.  Marketing has SLA’s (service level agreements) with sales for qualified lead definitions and we have specific target goals for those numbers as well as the top stages of our single, shared lead/opportunity funnel or pipeline.  We track, measure and report on our performance at each of those stages in terms of both the actual number and the conversion ratios for lead movement from stage to stage.  We also benchmark our performance for all of that against an industry standard for comparably sized SaaS technology companies.

We see these trends in enterprises as well – though sometimes it is easy to lose sight of the forest through the trees when a company needs to embark on transformational change.  They get bogged down in tactics (predictive analytics, scoring, SLAs) – which are all fundamentals – but lose sight of the overall goal.

Excellent article.  What are you seeing?

by Jon Russo Jon Russo No Comments

Marketing Tech Investments: Beyond Silicon Valley

This past week, I facilitated another round table discussion with twenty business to business digital leaders as part of the Marketing Operations Cross Company Alliance (MOCCA) group.   Companies represented ranged from large companies like CA Technologies, SAP, and MetLife, to smaller companies like Talkpoint (acq. PGi) and XLGroup.  We also had a technology venture managing partner join our round table discussion.

One topic of conversation was the recent VentureBeat article citing @chiefmartec Scott Brinker’s landscape of marketing technology.  Scott presented this chart to us in our last meeting so we had context.  We asked the question to the group – ‘are 1400 marketing technology vendors sustainable as an overall market?’

Market expansion responses:

  • The marketing technology company quantity will double (to 2800) because the pace of innovation is moving fast
  • Big companies (Oracle, SAP, SFDC) can’t innovate, therefore big companies will acquire so there will be a need for smaller companies continuously
  • To be competitive today, the advantage in the market is that of speed as value propositions blur – and technology enables that speed edge, so the market will continue to expand to get faster
  • It is a game of arbitrage – once all competitors buy a technology (like predictive analytics), they no longer have that advantage so they’ll seek new technology to go faster
  • Salesforce.com has the app exchange with thousands of companies, marketing is no different with Marketo with Launchpoint

Market contraction responses:

  • Technology has changed so fast, it is starting to outstrip the organization’s ability to respond and keep up
  • I spend my day dodging calls and emails from marketing technology vendors unless that vendor has something really unique I should look at
  • My budget is staying relatively flat, there is only so much technology I can invest in credibly and present to my boss
  • My companies priorities shape how I’m able to absorb marketing technology and we can barely get done what we need to get done
  • I check to see how long a vendor has been in business because I want to make sure they are sustainable for the long term

Based on my own experiences as a head of marketing in Silicon Valley and NYC companies for 10 years and recent discussions with my enterprise clients, I bend toward a market contraction.

  • Some companies will fade away completely and be replaced by newer innovations with the overall pool of companies remaining the same at first, slowly contracting with either exits through larger companies or exits because of lack of revenue.
  • While somewhat obvious, Silicon Valley companies are more likely to be industry leading in terms of their investment threshold for new marketing technologies as they are more apt to pilot/test and risk success;
  • East coast companies are a very different beast both in organizational risk appetite as well as the importance of marketing as part of the sales process.  It is likely east coast companies will need to digest what is in front of them now technology wise and prove ROI on existing investments before getting too far ahead on net new investments.

An area of opportunity is for one vendor to bring order to chaos, by simplifying one interface to get multiple tools to work together properly and coherently.

One thing we all agree on, there is no better time to be an enterprise marketer.

How do you see the technology marketing market shaping up?

by Jon Russo Jon Russo No Comments

3 Enterprise Takeaways from SiriusDecisions Summit

This was posted on Oracle’s Blog this past week.  Reposting if you missed it.

——————————-

Today’s post comes courtesy of Jon Russo, founder of B2B Fusion, an agency that focuses exclusively on modernizing old demand generation practices to new to drive more revenue for clients like Thomson Reuters, Level(3) Communications, and Blackboard, among others. Jon serves on the Board of Directors for MOCCA, the leading enterprise association for Marketing Operations professionals. Prior to founding B2B Fusion, Jon held global CMO roles for 10 years in private and public technology companies in Silicon Valley, NYC, and Luxembourg.

This week in Orlando, 2,000 attendees had the opportunity to participate in the SiriusDecisions Summit, the granddaddy conference for the B2B marketing industry. Sirius analysts presented eight new frameworks and enterprise clients shared success stories, each group illustrating paths toward transformational growth for 2014 and beyond.

So what are the new themes from enterprises this year versus the seven prior conference years that I’ve attended?  Here are three new 2014 themes that emerged from the enterprise discussions:

1. Think globally, act locally. Enterprise presenters took a global planning approach to their demand planning versus more North America centric presenters of years past, possibly because companies see more growth in markets outside of North America. Polycom CMO Jim Kruger leveraged regional team presenters by sharing a global success story of installing an inquiry to opportunity process. Joseph Puthussery, Vice President of Demand Generation for Cisco, invested four years in architecting and building a global demand center, began his planning efforts in London, and leveraged successes within each global theater of operation.  Joseph previously ran APAC marketing efforts for Cisco from Singapore and emphasized how important it was to get outside of headquarters to think through architecting a demand center.

2. Data is foundational to true business insights. Pete Koliopoulos, Vice President of Marketing for Arrow Electronics, provided an incredibly thoughtful approach to Arrow’s data governance strategy to help elevate marketing to a true business partner. He presented screenshots of a whitespace report with product penetration by channel account, which enabled sales and marketing to drive campaign strategies to attack the whitespace. Arrow cleansed its internal owned data, appended external DUNs hierarchy data, and applied proper data governance to get to the dashboard destination.  Data strategy is often overlooked in other enterprises as executives overlook the impact data strategy has on sales & marketing productivity and business insights.

3. Marketing & Sales pivot toward a predictable science versus pure art. CMO Jim Bell of Jaspersoft and Vice President of Demand Marketing Meagen Eisenberg of Docusign proved how SaaS marketing has become more predictable than that of years past. SaaS companies have a clear advantage over other older enterprise companies as SaaS typically target new markets, deploy state of the art sales/marketing tools to attack those markets, and pinpoint customer retention trends in cohort clusters.

Jim illustrated how in a smaller organization, he doubled the inquiry to close rate from his baseline by installing rigor around funnel definition and discipline around the process.

Meagen explained how she leveraged intelligence from Docusign’s 90 nurture tracks, 20+ personas, and analytic/data vendors like Lattice Engines and Mintigo. Scott Barmmer, Meagen’s sales counterpart, commented how marketing brings an informed point of view to the conversation, one that has evolved and interpreted versus just presenting data. This interpretation leads to greater trust in the evolving sales and marketing relationship.

It was an exciting 2014 conference filled with another year of terrific networking and great enterprise audience growth from years past!  What can we expect in 2015 and beyond?  None of the presenters focused much energy on the success or impact of mobile initiatives; perhaps mobility will be an emerging theme in 2015.

by Jon Russo Jon Russo No Comments

The Many Faces of Marketing Automation

(Reposted from DemandGenReports Blog)

 

When I recently attended Oracle’s Marketing Cloud kickoff event, where Oracle COO Mark Hurd gave his presentation to 100 of us, we had a chance to ask him questions at the conclusion. My question for him was, “how are you using Eloqua internally, what is your use case and roadmap vision?”

There were multiple use cases shared for marketing automation, each requiring different elements from their CRM or end users depending on the type of company. Let’s take a look at three of those models.

Model 1: Share of Wallet – Hurd said Oracle already has 400,000 global accounts, and doubted that he could expand that to 800,000. However, given that Oracle has been acquiring companies rapidly, Hurd said his objective now is to infuse other Oracle products into the company’s existing 400,000 client base via his newly acquired company, Eloqua.

For large, global enterprise companies, marketing comes down to the share-of-wallet, and gaining more spend from existing clients with products other than the core product. It’s about nurturing the relationships you already have, finding out what products they’re missing within the vendor portfolio, and working to expand the size of the accounts. In each of these scenarios, having the proper product information structured properly in the CRM system is critical and an often overlooked area. Duplicate accounts or contacts, sometimes caused by ERP systems, crush a marketer’s ability to properly upsell and cross sell.

Model 2: Market Share – Smaller organizations, by contrast, are typically concerned with gaining rapid market share. Their marketing efforts are more top-of-the-funnel oriented, with efforts aimed at expanding their client base. For SaaS companies in particular, they may extend offers, trials, and freemiums via marketing automation, dripping those freemiums into qualified opportunities at the right time. It is critical to set up the campaign integration with CRM properly in this scenario as well as a consistent campaign naming hierarchy such that campaign performance can be later analyzed to see what campaigns are driving conversions.

Model 3: Customer retention – Customer retention is a function found in both large organizations and in smaller SaaS companies. It’s oftentimes overlooked by marketers who prioritize how much revenue is being sourced or influenced.  CRM information on current contracts and products are critical, and are the ideal fields that indicate product usage so that nurturing can be based off renewal dates or usage (or lack thereof). Of the enterprises I’ve inspected, this area has the most upside potential for marketers to impact, yet it is very challenging for marketers to measure overall effectiveness.

There are a number of different ways marketing automation can be shaped to solve business challenges in the enterprise. What are you seeing?