Customer Buying Process – Why IT Decision Makers Engage With Vendors
- The most compelling reason for an IT Decision Maker (ITDM) to respond to a sales rep is because the buyer’s perception is that the sales rep shared valuable content or information
- The second most convincing reason for an IT Decision Maker to engage with a sales rep is because the ITDM believes that the sales rep is knowledgeable about their business/specific challenges
- IT Decision Makers expect that a sales rep will show respect for their time and that the sales rep will convey that they are honest and transparent
- And, IT Decision Makers convey that timing is a big key and that if a sales rep reaches out at the right time that they will often make time to meet.
Forrester Wave – Predictive Marketing Analytics For B2B Marketers, Q2 ’17
- Forrester’s criteria evaluation of predictive marketing analytics providers for B2B marketers is summarized above.
- Forrester researched, analyzed, and scored predictive marketing analytics vendors against 28 criteria.
- The Forrester Wave report is designed to help B2B marketing professionals make the right choice for a predictive marketing analytics solution based on their individual requirements.
Go to Market Charts – Periodic Table of Predictive Analytics
Go to Market Charts – B2C & B2B Marketing Budgets
Marketing Budgets rose in 2016 and represented 12% of company revenue, according to Gartner.
The largest organization allocated a larger percentage of their revenue on marketing — 13% at companies with more than $5B in annual revenue.
Smaller companies, those that have $250M to $500M in annual revenue spent approximately 10% of revenue on marketing.
For example, the average organization with $5B in revenue has a $650M marketing budget.
Or, a company with $500M in revenue budgets about $50M on marketing.
Go to Market Charts – Marketing Budget Composition
Gartner’s survey reveals that, on average, marketing spend in 2016 broke down into:
28% spent on labor
27% spent on technology
22% spent on services
22% spent on paid media
1% spent other
Go to Market Charts – Marketing Budget Allocation
The graphic below highlights where respondent’s to the Gartner marketing survey communicated that they would allocate marketing dollars:
9% – Web
9% – Digital Commerce
8% – Digital advertising
8% – marekting analytics
8% – Event marketing
Go to Market Charts – Essential B2B Digital Marketing Tools
B2B digital marketers typically focus on digital marketing tools to help them reach, engage, act and convert.
Below is a great example from SmartInsights of how to think about each stage in the process – B2B marketing concepts that comprise each stage and vendors that offer sol solutions to help sales and marketing teams accomplish each step.
Go to Market Charts – Mary Meeker: Global Market Cap
Go to Market Charts – Mary Meeker: Global Market Cap for Tech
Go to Market Charts for Marketing – Marketing Technology Stack
The marketing technology landscape is quite complex and ever expanding. It’s easy for marketers to become overwhelmed or to become frustrated when It becomes involved and performs its due diligence. However, CEB reports that more than 66% of marketers yield less than 50% of the potential form their MarTech investments.
Go to Market Charts for Marketing – MarTech Adoption, Budgets, Innovation
More than one-third of respondents communicated that 11 to 25% of their marketing budget was allocated to MarTech investments.
Almost 60% of respondents communicated that more than 11% of their marketing budget was allocated to MarTEch investments.
Go to Market Charts for Marketing – # of MarTech Tools
85% of respondents communicated that their organization has invested in up to 5 MarTech tools
50% stated that their company has up to 3 MarTech tools
More than 10% of respondents have purchased more than 6 MarTech tools
Go to Market Charts for Marketing – Ability to Operationalize MarTech
MarTech ownership varies within an organization and the value realized varies as well
When customer service owns MarTech, more than half the time excellent value was realized by respondents
Most organizations realize good or excellent value, except when sales owns the MarTech investment, then the results are a mixed bag
Go to Market Charts for Marketing – Types of MarTech Stacks
There is no silver bullet when it comes to making the perfect MarTech purchase.
Most respondents were able to fully leverage their MarTech investment, however, those organizations that implemented a Limited Piecemeal Solution were not able to fully leverage their stack as much as the other Martech Stack Types.
Go to Market Charts for Marketing – Snapshot of Best Marketing Practices
Go to Market Charts for Marketing – Predictive Intelligence
Predictive intelligence tools make it easier for marketers to track and understand customer behavior to generate highly personalized based messaging. Best-in-class marketers are 3.6x more likely to strongly agree that predictive intelligence and data science are important to their overall marketing strategy.
Go to Market Charts for Marketing – Tech Investments
The most sophisticated marketers are investing more heavily in tools and technology. 72% of high performers are expected to increase spending on marketing tools and technology in the next 2 years.
Go to Market Charts for Marketing – The Impact of Advanced Tech
The marketers that are most correlated to revenue use data segmentation, marketing automation and predictive intelligence.
Go to Market Charts for Marketing – Marketing Budgets As a Percent of Revenue
The CMO Survey reports that marketing spend as a percent of company revenues was:
- 8.7% for B2B Product Companies
- 6.0% for B2B Service Companies
- 10.2% for B2C Product Companies
- 6.1% for B2C Service Companies
Go to Market Charts for Marketing – Marketing Budgets As a Percent of Company Budget
Your brand is the sum of total of associations, feelings, attitudes, connotations and perceptions related to an organization, product / solution and or service. It is a relationship with the customer and a promise to deliver value – a specific set of features, capabilities, benefits and services and support.
Developing an effective brand strategy is based on three key brand strategy components: brand positioning, brand architecture and brand extension.
Go to Market Charts for Marketing – Marketing Budgets As a Percent of Company Budget
The CMO Survey reports that marketing spend as a percent of company budget was:
- 11.2% for B2B Product Companies
- 10.5% for B2B Service Companies
- 16.7% for B2C Product Companies
- 9.0% for B2C Service Companies
Go to Market Charts for Marketing – IoT Opportunities By Industry & Application
Forrester constructed a matrix to determine what IoT opportunities are hot (they have a combination of attractive industry conditions and strong adoption by customers in those industries). Examples of specific key use case by industry are summarized below.
Go to Market Charts for Marketing – IoT Opportunities By Industry & Application – Hottest Markets
Fleet Management in Transportation
- Fleet managers across industries can now use packaged solutions to manage vehicle fleets, rather than build custom solutions, which FedEx and UPS have been doing for many years.
- GPS tracking can be used to identify the most efficient delivery routes, and geofencing alerts the warehouse when a driver is within 5 miles away to ensure that the driver’s manifest, invoices and next delivery load are waiting.
Security & Surveillance Applications in Government
- City & local governments are deploying networked surveillance cameras & video analysis software to expand public safety capabilities.
- Some cities deploy smart screens and an interactive, sensor-enabled platform which provides emergency response personnel, police
departments, and citizens with real-time information relevant to their immediate proximity.
- Other use cases incorporate touch, voice, and audio technology to deliver local (about two square city blocks)
information and services in real time.
Inventory & Warehouse Management Applications in Retail
- Innovative retailers are implementing IoT solutions to improve the accuracy and efficiency of inventory management and
supply chain processes.
- The best-in-class retailers improve the accuracy and availability of thousands of shoe styles in its stores by working with technologies to deploy ultra high frequency (UHF) RFID tags onto display shoes.
- RFID tags on the shoe provide information including designer, color, sizes, and price. Sales associates can then use handheld RFID
readers to identify the tagged items and upload inventory report data.
Industrial Asset Management in Primary Manufacturing
- Primary manufacturing firms need to manage complex, industrial asset systems and production processes.
- A large global aluminum manufacturer transformed the manual, time-consuming process of controlling and monitoring individual aluminum processing pots.
- It also implemented security measures such as geofencing, authentication, and authorization.
- Technology can also be deployed to deploy a sensor-enabled system to connect, manage, and remotely monitor the materials, bath sampling, temperature, and operational status of each aluminum processing pot.
Go to Market Charts for Marketing – Account Based Marketing Technology Market Map
The Account Based Marketing Technology Map identifies vendors for each of the account based marketing activities .
Go to Market Charts for Marketing – Marketing Budgets as a Percent of Revenue
- Gartner found that in 2014, marketing budgets were over 10% of revenues.
- Companies with revenues greater than $5B reported that the marketing budget was 11% of revenue.
- Companies with revenues between $500M – $1B reported that budgets were 9.2% of revenue.
- Industry did not drastically impact the percentage of revenue spent on marketing as it ranged from 9.2% to 12.3%
- Companies selling B2B allocated approximately 8.9% of revenues to the marketing budget while B2C companies allocated 10.1% of revenues to marketing.
Go to Market Charts for Marketing – Business Outcomes for Big Data & Analytics
Challenges Enterprises Believe Big Data & Analytics Will Help Them Overcome
- Find correlations across multiple, disparate data sources
- Predict customer behavior
- Predict sales
- Identify security risks
- Analyze machine data
- Predict fraud or risk
- Analyze social sentiment
- Analyze click streams
Go to Market Charts for Marketing – Periodic Table of Content Marketing
econsultancy created The Periodic Table of Content Marketing and it contains 8 sections:
- Strategy – Develop a clear strategy that is mapped to your long-term business goals.
- Format & Content – It may be appropriate to use multiple formats for a single piece of content as people absorb and learn differently.
- Platform – The content distribution platforms to distribute and share your content.
- Metrics – How you will measure the performance of your content.
- Goals – Quantitatively answer the question, why is there a content marketing program.
- Sharing Triggers – What are the emotional drivers behind sharing, and make sure the content you create makes people feel something.
Go to Market Charts for Marketing – Periodic Table of Digital Marketing Predictions & Trends
Mesh’s interactive table is comprised of 114 elements across content marketing, social media, digital marketing, mobile, marketing automation and analytics.
Some of the major themes include: humanization, real-time marketing and recylcing content.
Go to Market Charts for Marketing – Periodic Table of B2B Digital Marketing
This go to market charts marketing is from Insight Ventures.
Included in B2B Digital Marketing is SEO, SEM, Email Marketing, Social Media, Website, Content Marketing, Budgets, Free Trials and Funnel Management.
Go to Market Charts for Marketing – Periodic Table of Marketing Signals
The Periodic Table of Marketing Signals is included in the go to market charts for marketing as it is a visual representation of the Marketing Signals Framework. The Marketing Signals Framework organizes signals across marketing channels according to 3 specific dimensions:
Channel: The primary channel where the marketing activity is executed.
Objective: Where in the sales funnel is there suppose to be impact: awareness, engagement, conversion, loyalty, and advocacy.
Signal Type: Signals are quantitative measures and can be organized by volume, quality, efficiency and shares.
By leveraging this framework, marketers can easily identify the most important signals: channel, objective or signal type.
Go to Market Charts for Marketing – Digital Marketing Strategies
Attercopia produced a framework to facilitate the development of digital marketing strategies.
The premise is that the periodic table will serve as a structure on how to best construct your digital marketing strategy.
Also included are sample Key Performance Indicators (KPIs) for sales, marketing and customer service aspects of your digital marketing plan.
Content types, SEO considerations and analytics tools that can be used to implement your strategy and control it are also noted.