Webinar Nerd – Connection with Sales

webinar nerd.pngAn interesting point had been discussed during one of ON24 webinars featuring a successful client – connection with sales.  Degreed (ON24 client) tries to connect with sales organization as much as possible, and the webinar program is part of the effort.  After each webinar, Degreed marketing provides a pre-defined package to the sales organization, which includes a link to the webinar recording, key takeaways, and a sample of follow-up email.

Sales organization is also involved in the generation of webinar topics, and a monthly debrief about the webinar program performance.   

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The more sales were involved, the better we have got

Some webinars could be beneficial for customers; these webinars are added to the calendars of relevant account executives to make sure “we did not know!!”  complaint does not appear after the webinar.

Popular webinars include a partner and a customer.

Degreed marketing usually takes 6 weeks to promote a webinar.

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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?  🙂

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… 😉

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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BrightTALK – 2018 Benchmarks Report

Are the time when we knew the “secret sauce” of the “right” day of the week and the “right” time to promote the webinar over?  Maybe 🙂

One recommendation has not changed, however, over the years: BrightTALK still recommends three dedicated emails over three weeks before the webinar to generate the best results.  Reducing the number of emails will limit the webinar’s audience.

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Interesting: the day of the week to promote the webinar does not play a significant role in generating registrations (BrightTALK measures registrations for the webinars rather than CTR or open rate of the email – very reasonable approach).

“Live Tomorrow” in the subject line seems to generate needed urgency (good to test in the future).

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Another interesting point is the wide range of time to host the webinar to maximize live views.  BrightTALK recommends selecting time based on presenter availability (reasonably), as the difference is minimal.

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Financial industry – afternoon webinars might be more successful.

BrightTALK also did not see much difference in the day of the week when the webinar is scheduled.  In the past Tuesday through Thursday were considered more effective; the new data suggest that Monday – Friday is completely acceptable.  Mondays even showed a slight increase in the attendance compared to the rest of the week.

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Marketers need to define the objective of the webinar (awareness?  lead gen?) and collaborate with the wider team on the promotion of an upcoming event (social, etc.)

Regions: presentations in the local language will increase attendance (Latin America example – over 1,000 live attendees tuned in to watch a webinar about WonnaCry Ransomware).

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More interesting points from another BrightTALK webinar…  about webinars:

  • As the role of marketing is changing to influence the entire customer journey, many “awareness” tools used throughout the sales process and beyond.  Financial Services (as a target audience) are more likely emphasize customer marketing than a search of new logos.  Use of the webinars will depend on the objective of the marketing organization.
  • How to increase live attendance?  Ask to submit questions in advance.  Use social media buzz to generate the interest to questions and speakers.  Create a hashtag for the webinar, and promote it in advance.  Asking questions in advance increases live attendance.
  • Attracting attendees with a gift card – typically produces more registrants, but does not have a good conversion to pipeline – people are only interested in the gift card, rather than the topic of the event.
  • Creation of videos: understand first what are you trying to achieve and what audience are you targeting.  Then, reverse-engineer these objectives into an interesting topic and a story.
  • Measurement of webinar’s success also depends on the organizational objective.  BrightTALK ultimately measures bookings and also retention.  The objective of generating net new is measured by first touch and multitouch is used for the overall measurement of the program success.  Webinars can accelerate pipeline 30% (BrightTALK data).
  • This is a good report to review every year 🙂