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SiriusDecisions Unveils Results from New Study on B-to-B Buying | SiriusDecisions

SiriusDecisions Unveils Results from New Study on B-to-B Buying | SiriusDecisions | The MarTech Digest | Scoop.it

SiriusDecisions, the leading global business-to-business (b-to-b) research and advisory firm, today unveiled the findings from its 2015 B-to-B Buyer Study during a keynote address at its 10th annual SiriusDecisions Summit. According to the results of the study, b-to-b buyers interact with sales representatives at every stage of the buyer's journey. This finding challenges the common industry perspective that b-to-b sales representatives’ roles and importance are declining due to a disintermediation by digital buying behaviors.

The study’s other key findings included the following:

  • The price point of an offering affects the number and type of interactions that occur between a buyer and provider.
  • As the price point of an offering goes up, human interactions between the buyer and the provider also increase. But even at low price points, there is evidence that human-to-human interactions occur.
  • More than half the time, sales representative involvement starts at the beginning of the buyer’s journey. In complex buying scenarios, sales rep involvement starts at the beginning of the journey two-thirds of the time.
  • The highest level of reported buyer/seller interaction for all buying scenarios occurred during the education phase of the buyer’s journey (the first decision gate in the purchasing decision process).
  • Not only do buyers interact with a sales representative from the winning provider organization in all phases of their decision-making process, but they overwhelmingly describe those interactions as positive (in over 85 percent of the buying experiences studied).
Marteq's insight:

"More than half the time, sales representative involvement starts at the beginning of the buyer’s journey. In complex buying scenarios, sales rep involvement starts at the beginning of the journey two-thirds of the time." Well, that should rock our world!!

 

Email your comments to joe_rizzo@marketingIO.com. I’ll publish it here. marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  

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How to Operationalize Your Customer Journey Map - Profs

How to Operationalize Your Customer Journey Map - Profs | The MarTech Digest | Scoop.it
To operationalize something means to set down exact definitions for each variable and to also establish clear definitions for your processes. In addition, it requires you devise appropriate methods of measure so you can capture meaningful data that's needed to continue to increase the quality of your results.

This work entails what is known as standardization. You need a standard workflow to support a systematic approach to your measurements. That is the only way to ensure that you can consistently report on your customer journey process's (for that matter, any process's) ability to meet business priorities.

The key to success is to be clear about why you created the process in the first place. Why did you map your customers' journey? Did you create the map to improve the effectiveness and efficiency of your demand-generation efforts? Or maybe you created it to reduce your sales cycle, improve customer retention, increase renewal rates, and/or increase your share of wallet or attach rates?
Marteq's insight:

CT for the details. I don't know how you can define the amorphous.

 

Email your comments to joe_rizzo@marketingIO.com. I’ll publish it here. marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  

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Marketing Funnel in Layman’s Terms (Infographic) - Digital Marketing Philippines 

Marketing Funnel in Layman’s Terms (Infographic) - Digital Marketing Philippines  | The MarTech Digest | Scoop.it
Marteq's insight:

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How Do Buyer Journeys Relate To the Customer Life Cycle? - Forrester

How Do Buyer Journeys Relate To the Customer Life Cycle? - Forrester | The MarTech Digest | Scoop.it
Q: “How should we use Customer Lifecycle when thinking about Buyer Journey? It feels like two different (similar models)”

A: Well spotted!  They are two different models. The Buyer Journey is about one particular decision journey.  There will be multiple buyer journeys throughout the typical customer life cycle, such as:

  • Initial purchase decision
  • Decision or renew (or expand)
  • Entirely new purchase decisions for entirely new stuff (cross-sell/upsell)
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The four pillars of distinctive customer journeys | McKinsey & Company

The four pillars of distinctive customer journeys | McKinsey & Company | The MarTech Digest | Scoop.it
By analyzing and ranking correlations between customer satisfaction and operational factors (such as the reasons a customer chooses one company over others, cycle times, features offered, and the use of digital channels) in our survey, four pillars of great customer-experience performance stood out:

1. Focus on the few factors that move the needle for customers

2. Ease and simplicity: The payoff trade-off

3. Master the digital-first journey, but don’t stop there

4. Brands and perceptions matter
Marteq's insight:

Perfect.

 

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Six Reasons Customer Journey Mapping Fails (And What To Do About It) - Gartner

Six Reasons Customer Journey Mapping Fails (And What To Do About It) - Gartner | The MarTech Digest | Scoop.it
  1. The journey mapping team is too narrow. Solution: Select your team carefully to include representatives of all parts of the organization that affect the customer’s entire journey.
  2. The customer journey map fails to focus on key segments and personas. Solution: Start by defining the who and developing a thorough persona (free blog post).
  3. The scope of the customer journey map is insufficient. Solution: Utilize a process that identifies the complete journey from  Buy to Own to Advocate (free blog post).
  4. The customer journey map is based on assumption and imagination. Solution: Do the hard work of gathering and analyzing data about the customer such as that available from Voice-of-Customer platforms (free blog post), CRM and customer care systems, web and mobile analytics, ethnographic studies and other first- and third-party sources of customer information.
  5. The customer journey map was completed with an inside-out view. Solution: Follow an organized approach of Who?, When?, What? and How? to produce an outside-in journey map (free streaming webinar).
  6. The customer journey mapping initiative has the wrong goal. Solution: A positive result starts with the right goals from the beginning. Set a goal of identifying problems and driving action, not producing a visual asset.
Marteq's insight:

Please CT for the links for those resources.

 

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Aligning collateral and micro-conversions with the buying cycle - Search Engine Land

Aligning collateral and micro-conversions with the buying cycle - Search Engine Land | The MarTech Digest | Scoop.it
Sometimes it might feel like you are trying to find a balance between the value of one sale versus 15 or 20 micro-conversions. But the goal is to structure your content and collateral in a way that aligns with the path so that it naturally coincides with the consumer’s interest — as opposed to prioritizing one over the other regardless of the consumer context. I like to do this by creating audiences.

Create audiences based upon the collateral that the consumer has already downloaded or viewed, and use those audiences to exclude them from being served those same CTAs.

You can also use those audiences in a forward-motion strategy, to help deliver content that is lower and lower in the funnel, to help them make a purchase decision.

Doing this, in tandem with delivering the right content based upon their search queries, will allow you to provide the best experience possible, while loading up on data and driving consumers to the sale.
Marteq's insight:

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Do Companies Understand the Customer Journey? - eMarketer

Do Companies Understand the Customer Journey? - eMarketer | The MarTech Digest | Scoop.it
Many aren’t confident of their company’s understanding of big data either
Marteq's insight:

I'd say the answer is no.

 

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How to Create Content for Every Stage of the Buyer's Journey - HubSpot

How to Create Content for Every Stage of the Buyer's Journey - HubSpot | The MarTech Digest | Scoop.it
Learn what content people are looking for in every stage of the buyer's journey, including ideas for content you can include in your own strategy.
Marteq's insight:

Please CT for their examples.

 

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Marketing Automation TOFU, MOFU, BOFU Workflows - Unbounce

Marketing Automation TOFU, MOFU, BOFU Workflows - Unbounce | The MarTech Digest | Scoop.it
Marteq's insight:

CT for details, but the numbers refer to the number of days in-between drips.

 

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How to Focus Your Marketing Efforts Through ToFu, MoFu and BoFu Stages - Act-On

How to Focus Your Marketing Efforts Through ToFu, MoFu and BoFu Stages - Act-On | The MarTech Digest | Scoop.it
ToFu – Top of Funnel: Provide Education
Leads in this stage are most likely to be engaged with:
Paid advertising
Search Engine Optimization (SEO)
Social media marketing
Blogs
Remember, your goal during the ToFu stage is NOT to sell – it’s simply to educate.

MoFu – Middle of Funnel: Position Your Organization
The MoFu stage is an excellent time to nurture your leads with:
Newsletters
eBooks
Whitepapers
Datasheets
Webinars

BoFu – Bottom of Funnel: Converting Leads into Customers
A lead should only be considered BoFu once they have shown considerable interest in your product or service. These leads have interacted significantly with your marketing efforts, and are (usually) ready to be contacted by your sales team. Ideally, these leads have also been deemed to be a good fit for your organization; they resemble your ideal customer profile, or they have similar characteristics of your high-performing customers.
Marteq's insight:

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Marketing platform Kahuna applies its machine learning across customer journeys - Marketing Land

Marketing platform Kahuna applies its machine learning across customer journeys - Marketing Land | The MarTech Digest | Scoop.it
Kahuna is expanding again to focus on customer journeys instead of individual messaging campaigns, with the recent launch of Experiences for optimizing messages across a journey.

Previously the platform focused on a marketer’s ability to, say, send a email to a mobile user encouraging them to install a new travel app. Once installed, there might be an in-app message suggesting that the user search for airfare deals. And, if there was no response, that might be followed up by a push notification to the user’s locked screen, recommending use of the app.

In Kahuna’s nomenclature, each of those messages was a point-in-time campaign. Now, those separate messaging efforts are considered one journey, which Kahuna calls an experience. The marketer can now focus on messaging needed to move the customer or would-be customer along a combined path from one user segment to another, such as from the group of new users to the group of new users who have conducted an in-app search and made a purchase.
Marteq's insight:

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Three Generations of B2B Technology Buyers | Arketi Group

Three Generations of B2B Technology Buyers | Arketi Group | The MarTech Digest | Scoop.it
We asked three generations – Baby Boomers, Gen Xers and Millennials – how they make decisions on B2B technology purchases. Their responses upturn the conventional wisdom about influences and influencers in the buying cycle.
Marteq's insight:

You MUST CT to see this interactive infographic. Great information.

 

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Azalead's curator insight, June 28, 2016 11:44 AM
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The Four Elements of a Buyer's Journey Map | SiriusDecisions

The Four Elements of a Buyer's Journey Map | SiriusDecisions | The MarTech Digest | Scoop.it
To help clients sort through the definitions, here are the four elements of a buyer’s journey map:

  • Alignment to the buyer. The first things to look for in a buyer’s journey map are an actual buyer persona and the buyer’s decisionmaking process. There should be a separate map for each buyer persona, and the map should start with the buying cycle. 
  • Interaction mapping. The buyer’s journey map should map non-human and human interactions across the entire buying cycle. That way, you know the type of information exchange required to facilitate each persona’s buying process. 
  • Content mapping. This mapping details the content asset types and delivery channels preferred during each stage of the buying decision process. Best-in-class buyer’s journey mapping goes beyond identifying content that was consumed and includes knowing which content positively influenced the buying decision.
  • Engagement mapping. Engagement levels peak at different points in the buying cycle, and it is important to know this information, along with the buyer persona’s level of authority. This input enables organizations to determine when to deliver the appropriate content and interactions to each buyer involved in the decisionmaking process.
Marteq's insight:

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SiriusDecisions: Past relationships have huge effect on B2B buying decisions

SiriusDecisions: Past relationships have huge effect on B2B buying decisions | The MarTech Digest | Scoop.it
The importance of maintaining good customer experiences after a purchase is made is critical for B2B marketers, and new research from SiriusDecisions underscores that thinking.

At the SiriusDecisions Summit in Nashville, Tennessee yesterday, the results of SiriusDecisions' "2016 B2B Customer Experience Study" showed that a big 80 percent of B2B purchasing decisions are influenced by past customer relationships, and that just 20 percent of buyers pull the trigger based on the offer or price.

The survey also found that fewer than half of B2B customers believe that their providers offer them the needed value post-sale, so only half of respondents plan to buy more from their current providers. That shows there is still plenty of work for B2B marketers to do in the area of post-sale customer experience.
Marteq's insight:

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Influencing B2B Tech Purchases: Buyers' Content Preferences by Age and Funnel Stage - Profs

Influencing B2B Tech Purchases: Buyers' Content Preferences by Age and Funnel Stage - Profs | The MarTech Digest | Scoop.it
Marteq's insight:

Yes Tech Buyers, but note the difference between the three age groups. MIA: the Blank Generation.

 

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Why Linear Funnels Are a Simplified Reality (and What to Do About It) - conversionXL

Why Linear Funnels Are a Simplified Reality (and What to Do About It) - conversionXL | The MarTech Digest | Scoop.it
Awareness -> Evaluation -> Purchase -> Usage -> Repurchase -> Advocacy is an example of a linear funnel. All of the dots associated with each step of the funnel create a tornado.

As you can imagine, tornadoes are a bit more difficult to deal with than simple linear funnels. Why? There are two core reasons (among many others): growth attribution and points of optimization.

So, how do you manage tornadoes? The same way you manage linear funnels… with a few tweaks. The first step is to understand your users’ behavior with conversion research. Next, you’ll want to set up your analytics configuration.  
Marteq's insight:

As I've often said, the buyer's journey is unique and meandering. The challenge: be at every point.

 

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Study: Millennials prefer Facebook, video for B2B research FierceCMO

Study: Millennials prefer Facebook, video for B2B research FierceCMO | The MarTech Digest | Scoop.it
B2B millennials are playing an increasingly large role in purchasing decisions, a role that will only grow larger moving forward. New research shows that millennials prefer video content and channels like YouTube when researching B2B products and services.

"B2B Report: Millennials" from Sacunas polled 2,000 millennials on their B2B buying habits and what is important to them when making purchasing decisions, and unsurprisingly found that they are decidedly digital-first.

More than half (56 percent) of responding millennials said that digital channels such as search engines, vendor websites and social media are the most important channels for researching new products and services, according to the report. Mobile devices are also playing a big role in their B2B research processes.
Marteq's insight:

And there's greater than a 50-50 chance your potential purchaser is a millennial.

 

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Don’t Waste Your Time With Customer Journey Maps - GMC

Don’t Waste Your Time With Customer Journey Maps - GMC | The MarTech Digest | Scoop.it
You spent thousands of dollars on journey mapping consultants, workshops, and tools, and you’re thrilled to have survived the exercise and walked away with some great-looking maps. Then reality sets in. You were told that journey maps are the be-all-end-all tool for customer experience transformations. But looking at your maps, you suddenly have no idea what you need to improve or how/ where to begin to improve it. Now what? Where did you go wrong?

Traditionally, customer journey maps are useless because they’re just not actionable.
Marteq's insight:

White Paper behind a reg form. Worthwhile!

 

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Which Departments Wield the Most Influence Over Purchase Decisions in B2B - LinkedIn

Marteq's insight:

Nice!

 

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Customer Experience Matrix: Pointillist Journey Orchestration Discovers Customer Paths for Itself (Marketing Automation is Doomed, I Tell You)

Customer Experience Matrix: Pointillist Journey Orchestration Discovers Customer Paths for Itself (Marketing Automation is Doomed, I Tell You) | The MarTech Digest | Scoop.it
What makes Pointillist a journey orchestration engine is that it can describe and act against customer journeys. The acting part is especially important, because it makes Pointillist more than simply an analysis tool.

What Pointillist really does from a user point of view is let you pick sets of customers and events to analyze. Users drag the events onto a workspace and connect them with lines to indicate the sequence to analyze. The system then scans its data to find how many customers had an instance of each event and draws lines whose thickness indicates how many passed customers from one event to the next. In other words, it creates a journey map.

Or, and this is my favorite part, you can tell Pointillist to discover the most important paths on its own.  It does this using machine learning to determine which paths have the highest combination of frequency, exclusivity, and correlation to a goal (a user-specified event). Users can adjust the balance among those three factors and can further train the algorithm by telling it which connections they feel are important. Because Pointillist is doing the analysis in memory and considerately visualizes its results, you can  watch it test different connections until it settles on a final set.
Marteq's insight:

Seems like an obvious application, and a no brainer.

 

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7 Steps to a Buyer’s Journey that Fuels Your Inbound Campaigns - The Whole Brain Group

7 Steps to a Buyer’s Journey that Fuels Your Inbound Campaigns - The Whole Brain Group | The MarTech Digest | Scoop.it
1) Pick the best persona to map the buyer’s journey

2) Identify your internal information resources

3) Identify what happens in the Awareness stage

4) Focus on the Consideration stage

5) It’s time to make a decision

6) Tie it all together with some inbound campaigns

7) Identify triggers to hand off leads to your sales team
Marteq's insight:

CT for details.

 

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B2B Buyer Journey Mapping Basics - Forrester

B2B Buyer Journey Mapping Basics - Forrester | The MarTech Digest | Scoop.it
Marteq's insight:

Perfect!!  CT for the details!

 

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Who owns the customer journey? - Squiz

Who owns the customer journey? - Squiz | The MarTech Digest | Scoop.it
Discover how marketers' views on customer-centricity have been shifting, and the report contains our findings, research analysis and some advice on how marketers can step-up and be the customer champion.

Inside this free download, we investigate:

  • Whether marketers understand the importance of customer-centricity - and if they are supported in this by senior management.
  • Whether marketing thinks it owns the customer journey - and whether the rest of the business feels the same.
  • What levels of confidence marketers have when using technology for achieving customer centricity, and whether they have the ability to influence what tech decisions are made.
  • Whether marketers are the voice of the customer in their organisation and, if not, what steps they need to take to become so.
Marteq's insight:

If you download and read (and you should), note the ROI on CX...or lack thereof.

 

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A Critical Moment of Truth in the Customer Lifecycle for Technology Products and Services - Gartner

A Critical Moment of Truth in the Customer Lifecycle for Technology Products and Services - Gartner | The MarTech Digest | Scoop.it
To maximize that moment, tech providers need to think about:

  • Installation or Activation (for As a Service) – How to make it easy to start using the product or begin the project.  (Some of the most popular product videos on YouTube are “unboxing” videos.
  • Onboarding – Helping everyone involved to understand the path to value and what is available to them.
  • Help Options – Guiding users on where to go for assistance.
None of these activities should be taken for granted.  In fact, I’d posit that more emphasis should be placed in all of these.   Do it right, and things get easier.  Do it wrong, and your steering the customer toward thinking about other options or just giving up.
Marteq's insight:

I definitely buy into this...

 

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