2018 – State of Email and Email Benchmark Reports

Two recent reports approached email marketing from two different angles: technology implications and brand implications.  Both highlighted mobile views and gave recommendations for marketers to adapt…

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IBM released email benchmark report, but the most interesting comment was related to brand.

As more and more consumers view their email messages on mobile devices, we might need to view an email as an ad, which may not be designed to get a click but to remind the target audience about the brand.  In this case… it might be quite acceptable to send more emails.

As the report is based primarily on the consumer data, I wonder if this approach can be entertained for the b-to-b audience. However, the topic of sending too many emails or not enough emails is now discussed more frequently.  Microsoft did an interesting email frequency test, which suggested that more email messages could be accepted and appreciated by the most profitable segments.

Brand and frequency discussion is interesting (and rather unexpected) industry development.

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Canada does see higher email activity, what is attributed to regulations.  However, the difference between US and Canada is not as dramatic as I expected.

device.PNGDifference in device usage across regions seem to persist.

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Litmus reviewed email world from a more technical perspective.

  • 3% of email users still click on “view online” option
  • Marketers are less likely to use separate content for mobile and desktop version to increase efficiency (is this trend alluding to potential “over-segmentation” we can hear in the industry more frequently now?)
  • Image scaling for retina display – one-third of marketers use this approach
  • New trend started in 2017: Gmail and Yahoo are giving “unsubscribe suggestions,” which, if successful, can spread to other areas

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Interesting: email designers are concentrating on interactive experiences.  Maybe email truly moving into the category of an ad?  🙂

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How ON24 Drives Demand With Webinars

ON24 shared a thoughtful approach on how webinars can be used throughout the sales cycle.  ON24 also shared the data to compare attendance of different webinar types.

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Interesting: Customer Spotlights (what can be a good example of a useful case study) generate more registrants than vertical content.  This relationship might be different for other companies; a webinar platform might be used quite similarly across verticals.

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Immediate translation is a very reasonable approach.

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Interesting: ON24 does weekly demo webinars, which are also promoted by sales organization in their communications to prospects.

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ON24 ran only one Sales References webinar so far, and it may not be suitable for industries with less forthcoming customers, but the concept is perfect for the specific stage in the sales cycle.

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Hmmm….  Though every marketing organization seems to be creating videos for a specific account, a webinar is a similar idea – and it might be easier to produce than a video (in some cases).

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MeritDirect Technology Marketing Exchange

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Remarkably practical event!  Both sessions and networking portions sparked ideas for the future, questioned status quo, and offered useful tips to apply tomorrow.

Marketers discussed industry trends: ABM and Intent Data.  A rather unexpected (for me) “new trend” resonated through a couple of presentations: application of ABM to existing customers. 

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MeritDirect case study

One of MeritDirect clients had a very niche market, where every potential customer has been probably touched already through a variety of channels.  MeritDirect team was able to analyze existing customers:

  • Some large organizations could potentially buy more products/services company offered
  • A limited number of contacts were known at each account

Approach: expand sales to existing customers (using ABM methodology)

  • Identify accounts who could potentially buy more
  • Define target persona in these organizations

The target persona was matched with data available in MeritDirect database, what allowed the company to purchase needed contacts.  The company executed direct mail and email campaign.  Campaign creative emphasized that promoted products and services were already purchased by other parts of the organization.

Ensuring that the recipient knew that the Supplier was already an approved vendor for their business provided the confidence and necessary protocols that many buyers in B2B environments need in order to make substantial purchases from a vendor.

The program was started with a limited test (one brand) and later expanded to several brands and $300,000 inclusive of data and production expenses.  The revenue directly attributed to the program was substantial: the company received $81 in return for every dollar invested.

Given the average tenure of a person at the same job within the same company, B2B marketers, particularly those who focus on the mid to large sized universe, need to target potential replacement contacts from reliable sources…  Additionally, there are often several different departments or divisions witin a company that may have a need for your product or service and be authorized to make or influence purchases.  Having captured a purchase from one department increases the affinity of other departments to also become customers.

(More MeritDirect case studies)

ABM at SAP

sap.PNG“You should select ABM approach, which fits your company’s strategy.”

SAP started with “one to few” ABM: the company selected 6 industries and 5-6 accounts in each industry.  SAP selected existing customers with additional purchasing potential.

  • First step – research: what would be interesting for this account?
  • Sales feedback was the most important (sales approve all creative)
  • Campaigns are designed based on the intent signals

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1:1 approach: assets are built for the company, including their brand colors.

1:Few approach: assets are built for the group of companies (starting with a specific one); 80% is static, but 20% of the asset creative is changed based on a specific company.  For example, if Oil and Gas industry video for a specific account shows off-shore drilling, and the other target company does not have off-shore operations, this section of the video is replaced with an appropriate alternative.

“Anything we do for Toyota is in Japanese.”

“When we do a video, we also create a hard copy version for sales to use as a leave behind (or in any other way).”

SAP works with a very strong agency, which can digest all internal research and come up with the campaign strategy.  

“Many vendors will claim to do a lot of things, but if you are global, make sure your vendors have global reach.”

How do you get sales to review assets?  Go deep!  Who is selling?  It is most likely a person “in the trenches,” not necessarily sales leadership, would be your best contact.  Connect with these people, and they will be happy to help – and will be using your materials.

It takes a certain type of salesperson to use the materials.  Present 5 asset concepts to sales, they select some, build selected assets.  The process takes about 6 months.

SAP has approximately 375 different assets for 6 industries for 40 accounts.

What is the topic of ABM assets?  Not solutions.  “Thought leadership staff.  We describe what could be – it allows the salesperson to use the material to sell what he/she needs.”

It has to be about the customer: how can they do “x” better.  “Our purpose is to help our customers to help their customers, so all our lives improve.” At SAP, our purpose is to help the world run better and improve people’s lives.

“Ton of research.”  We need to know enough to tweak 20% of the asset.

  • report.PNGIndustry research (agency)
  • account research
  • internal account plan review
  • stakeholder mapping

Research also helps to get traction with the sales team.  “Account deep dive” is delivered for sales – a hefty PPT with invaluable account information.  Sales management is happy: “it saves my guys two months of work!”

How do you measure consumption of the assets delivered to sales?

  • At first, just talking with the sales organization and matching assets to the pipeline
  • Then, tracking digital metrics “from the right company”
  • The plan is to create a portal for easier access and better metrics

At the start of the ABM in any company, executives should not expect significant results in the first two years.  Executives must support the initiative and understand timelines.

Does SAP follow Demand Unit Waterfall process?  Not exactly.  The company is paying attention to the developments, however.

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Campaigns do not dictate ABM focus and can run rather independently.  Materials and research generated as part of the ABM program, however, can be used wider.  Asset re-use: “If this issue is important for selected accounts, it will be important for others.”

ABM program owner regularly creates a slide with good results generated by the program, which is also approved by sales before it can be shared across the organization 🙂

Using Intent Data

lenovo.PNGMost organization have internal intent data; this insight is not enough.  External intent data is critical for an understanding of prospects’ behavior.

  • Pull closed won opportunities from your database
  • Check what they were researching 6 to 12 months before purchase (niche terms are better)
  • Check these terms currently; prepare content aligned to these terms

Interesting: Lenovo is evaluating campaigns feasibility based on an algorithm (how many contacts are needed to reach the desired goal).  The current program is run for 40,000 accounts.

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Intent data is also used for campaign evaluations: if nobody is searching for the topic to be promoted, the campaign may not make sense.

Lessons learned:

  • Content is still king
  • Intenet generated increased engagement, conversion, and efficiency for 33% of cost reduction
  • 14% Increase of SQL to Won conversion

Targeting and testing

microsoft.PNGHow do you build personas?  Microsoft (b-to-c part of the business) has a wealth of purchasing data for analysis and experimentation.  After this session, lessons learned on the consumer audience seem to be highly applicable to b-to-b business…  as we are still selling to people.  🙂

Microsoft was trying to understand who was interested when, trying to align seasonal content to a specific customer persona.

Based on the purchasing data, the entire database was grouped into several clusters.

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Some of the clusters were more active at the time when other clusters were not.  Almost all clusters were paying attention during the holiday season.

Clusters could also help to choose a better approach based on the test results.

For example, marketers tested “storytelling” approach.  The entire target audience received three versions of the same email: one email version was formatted as a story, another one had some elements of the story, and the last version concentrated on the facts: “cut to the chase.”

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Marketers discovered that different approaches to the “storytelling” appealed to different personas.  Each version had its own fans.

Do we create 3 versions of each email?  No!  But we create the best version for the most important cluster for this message.

Another test tried to determine if the “computer on the beach” was enough, or specks and, potentially, lifestyle images, would increase the purchasing.

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Again, different approaches appealed to different personas.

The most interesting and controversial test discussed during the conference was the frequency test.  During one otherwise uneventful month, select groups of people received a different number of emails, ranging from a “normal” 2 to 3 messages per week to 5 messages per week, and even 7.

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The result gave marketers enough data to answer questions from colleagues and executives, who either suggested to cut down the number of email communications or asked to send just one more message to promote “their product.”
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Marketers discovered that some personas increased their spend in response to a rather high number of email messages.  In some cases, the rate of unsubscribes went up, but the additional revenue generated well compensated for the slight increase in unsubscribes.

Marketers now use this insight to make decisions about sending an additional email to a specific persona or not.  The number of regular emails has not been permanently expanded 🙂

There is also a concept of “over-segmentation.”  Over-segmentation will limit your revenue.

Microsoft has dedicated resources to approach testing strategically and execute chosen strategies.

Other interesting points from the event:

“Wall Street likes recurring revenue; many public companies try to switch to subscription.”

Evolution of preferred tools associated with company growth:

  • Small companies prefer self-service tools, as they are lacking budgets
  • Medium-size businesses use more managed services and likely to outsource tasks, as budgets can now accommodate it
  • Large organizations often take their critical functions in-house, become more interested in self-service tools again and, at this point, tend to change vendors

Technology Marketing Exchange gave its attendees many interesting ideas.  All of us, who attended the event, will be sharing and discussing these ideas for weeks to come.

Excellent event!  Thank you, MeritDirect!

SiriusDecisions: Creating Demand Maps to Power Account-Centric Planning

As marketers find Demand Maps difficult to create, SiriusDecisions introduced a helpful process designed to help with the task.

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Demand Maps can be used for the overall planning process, which should include marketing and sales.  Demand Maps allow reviewing all potential opportunities and prioritize them between marketing programs and sales plays.  Marketers can also use the maps for budget allocation.

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The webcast discusses the Demand Map creation process, which is now used by a larger number of marketers.

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SiriusDecisions library of webcast replays contains a treasure of materials!  Excellent place to start a preparation for many projects… 😉

HBR’s 10 Must Reads 2018

HBR.pngA pleasure to read as usual!  The collection typically includes articles, which I do not find attractive based on the topic or an industry and would not read otherwise.  However, these are often the articles with the most insight and the most unexpected perspective of the business in general.

A couple of most unexpected discoveries are below.

Customer Loyalty is Overrated

The problem: Product innovations often flame out on launch, despite tremendous efforts to make them attractive, relevant, and up-to-date.

Why It Happens: Customers don’t want to spend the mental energy needed to choose between products.

The Solution: To strengthen customers’ habits, innovations should represent a progression of the brand rather than a break with the past.

…you should find ways to make products fit in people’s environment to encourage use.  when P&G introducced Febreze, consumers liked the way it worked but did not use it often.  Part of the problem, it turned out, was that the container was shaped like a glass-cleaner bottle, signaling that it should be kept under the sink.  The bottle was ultimately redesigned to be kept on a counter or in a more visible cabinet, and use after purchase increased.

Tide: The new products all preserved the look of Tide’s traditional pasckaging – the brilliant orange and the bull’s-eye logo.  The few times in Tide history when that look was altered – such as with blue packaging for the Tide Coldwater launch – the effect on consumers was significanlty negative, and the change was quickly rerersed.

Visualizations That Really Work

Context: Knowledge workers need greater visual literacy than they used to, because so much data – and so many ideas – a not presented graphically.  But few of us have been taught data-visualization skills.

Tools are fine…   Inexpensive tools allow anyone to perform simple tasks such as importing spreadsheet data into a bar chart.  But that means it’s easy to create terrible charts.  Visualization can be so much more: it’s an agile, powerful way to explore ideas and communicate information.

…. But strategy is key:  Don’t jump straight to execution.  Instead, first think about what you’re representing – ideas or data?  Then consider your purpose: Do you want to inform, persuade, or explore?  The answers will suggest what tools and resources you need.

The Performance Management Evolution

The Problem: By emphasizing individual accountability for past results, traditional appraisals give short shrift to improving current performance and developing talent for the future.  That can hinder long-term competitiveness.

The solution: To better support employee development, many organizations are dropping or radically changing their annual review system in favor of giving people less formal, more frequent feedback that follows the natural cycle of work.

The Outlook: This shift isn’t just a fad – real business needs are driving it.  Support at the top is critical, though.  Some firms that have struggled to go entirely without ratings are trying a “third way”: assigning multiple ratings several times a year to encourage employees’ growth.

At GE a new business strategy based on innovation was the biggest reason the company recently began eliminating individual ratings and annual reviews.  …Supervisors will have an end-of-year summary discussion with subordinates, but the goal is to push frequent conversations with employees (GE calls them “touchpoings”) and keep revisiting two basic questions: What am I doing that I should keep doing?  And What am I doing that I should change?  

ON24 – Anatomy of an Awesome Webinar

ON24, not unexpectedly, started its dissection of an Awesome Webinar from the objectives (stage of the buying cycle and target audience need to be understood and articulated in advance).

ON24 also uses Campaign Brief for promotional activities and maintains a year-long schedule of upcoming webinars.  The schedule can be adjusted based on the popularity of unexpected topics throughout the year, but the framework needs to be established in advance.

Similar to BrightTALK, ON24 emphasizes early promotion and recommends 4 dedicated promotional emails to get the maximum attendance for each event.

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ON24 changes email format (general HTML email and a personal TEXT email from the presenter) to get maximum visibility.  Interesting: the last email may be sent only to those who visited the registration page, but did not sign up for the webinar. 

 

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Webinar title is part of the creative ideation process, which can also be related to the promotion.  A good slide to consider during the preparation discussion is below.

 

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ON24 shared 2018 webinar benchmarks,  plus 10 Steps to Planning a Successful Webinar, and Driving Webinar Registrations Best Practices guide.

The data is somewhat different from 2018 benchmarks shared by BrightTALK, but the general idea is the same: planning, preparation, and promotion are needed to maximize the potential of a webinar program.

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Book – Skin in the Game

book.pngThis is one of the books, which helps to think about life in general, history, and the future of the society and, at the same time, explains a few simple practical concepts.

The book is fantastic, as the other books of Nassim Nicholas Taleb I was fortunate to enjoy.

A couple of concepts in the book, I think, particularly useful and not always noted in reviews: minority rule and companies person.

Minority rule explains an imposition of a certain preference or taste of a minority to a larger population.  If some of the consumers prefer “non-GMO” food, and the cost of “non-GMO” food is not prohibitively high, producers are more likely to assure that all their products meet the requirement.  As people who do not have a strong preference would buy “non-GMO” food, but people with the preference for “non-GMO” would not buy products without a specific label, the minority inadvertently imposes its preferences to the larger population.

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In promoting genetically modified food via all manner of lobbying, purchasing of congressmen, and overt scientific propaganda (with smear campaigns against such persons as yours truly), the big agricultural companies foolishly believed that all they needed was to win the majority. No, you idiots. As I said, your snap “scientific” judgment is too naive in these type of decisions. Consider that transgenic-GMO eaters will eat nonGMOs, but not the reverse. So it may suffice to have a tiny, say no more than five percent of evenly spatially distributed population of non-genetically modified eaters for the entire population to have to eat non-GMO food. How? Say you have a corporate event, a wedding, or a lavish party to celebrate the fall of the Saudi Arabian regime, the bankruptcy of the rent-seeking investment bank Goldman Sachs, or the public reviling of Ray Kotcher, chairman of Ketchum the public relation firm that smears scientists and scientific whistleblowers on behalf of big corporations. Do you need to send a questionnaire asking people if they eat or don’t eat transgenic GMOs and reserve special meals accordingly? No. You just select everything non-GMO, provided the price difference is not consequential. And the price difference appears to be small enough to be negligible as (perishable) food costs in America are largely, about up to eighty or ninety percent, determined by distribution and storage, not the cost at the agricultural level. And as organic food (and designations such as “natural”) is in higher demand, from the minority rule, distribution costs decrease and the minority rule ends up accelerating in its effect.

Another interesting concept is a “companies person.”

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A company man is someone who feels that he has something huge to lose if he doesn’t behave as a company man –that is, he has skin in the game

If the company man is, sort of, gone, he has been replaced by the companies person, thanks to both an expansion of the gender and a generalization of the function. For the person is no longer owned by a company but by something worse: the idea that he needs to be employable.

A companies person is someone who feels that he has something huge to lose if he loses his employability –that is, he or she have skin in the game

The employable person is embedded in an industry, with fear of upsetting not just their employer, but other potential employers.

As I thought this approach was “smarter” than a “company man,” who often could not find another job after a layoff, the true picture is quite different: we, companies people, have more “masters” to please.  But, as marketers, we can appeal to this need and create “products” to reduce this fear…  🙂