Marketing leaders in B2B and B2C are confronted with high customer expectations and a trend towards advanced technology that customers use during the buying process.
This is is turning marketing into an extremely complex discipline, providing challenges that need to be faced today. When is this complex future of marketing going to happen? Faster than you think…way faster…
Integrating big data in your marketing strategy is important in todays business strategies. The question is if big data is mature enough today to be usable, practical and beneficial to marketers. Isn’t big data a lot of effort, for little added value to the business? Let’s see…
No doubt data in general, within the field of marketing, is becoming more important. I’m not even talking about big data here, just data. As big data was reaching fever pitch sometime between 2011 and 2014, today the cool kids in data are moving on to obsessing over AI and machine intelligence and deep learning.
The basic idea behind the phrase ‘big data’ is that everything we do is increasingly leaving a digital trace, which we can use and analyse.
Early adopters have experimented with big data, with mixed results. They had to work with big data startups, and cobble solutions together. Today, these early big data startups went through multiple VC financing rounds, scaled their organizations, learned from successes and failures in early deployments, and now offer more mature, battle-tested products.
Is big data really sounding “3 years ago”, or has big data matured and is it more usable for marketers today ?
That’s the question I want to answer in this blog post.
Catching the attention of buyers is done differently today. In the digital world we live in today, classic interruption marketing is less and less effective.
Applying traditional marketing tactics in the online world doesn’t work.
In your case as a marketing professional, you are constantly looking for insight, trends, best practices and how-to-do stuff. You are blind for advertising, you use Google as your best friend, follow RSS feeds of major marketing blogs, and subscribe to newsletters. Right?
What catches your attention? As digital marketers we are constantly flooded with whitepapers, ebooks, ultimate guides and webinars.
Not all of them are of the same quality.
But sometimes you encounter brilliant, well researched, and extensive ebooks.
In this blog post I want to share some of the best ebooks I have found in 2014. Each and every piece is really useful, practical, visual, and something you want to save on your PC.
With the holiday period coming up, you might have some time to read some of them ;-).
* image by Mary(n_n)West, on Flickr.
Reaching corporate decision makers can be tough.
B2B marketers have a whole arsenal of strategies and tactics to our disposal: buyer persona’s, content, SEA, SEO, event marketing, advertising and social. You name it.
You give yourself 100%, developing the most fantastic message you ever made.
This is it. Now you nailed it. This got to work. It’s perfect. You press the start button of your campaign. And nothing happens. Or hardly anything happens. 2% conversion. 4% conversion. Anybody want more?
And that’s what happens over and over again. Read more
Long sales cycles and complex purchase decision-making challenge B2B marketers to find the most qualified prospects and to build relationships long before the first sales call.
In this environment, automation is essential to achieving a high level of demand generation maturity, and many marketers turn to lead management or marketing automation providers to meet this need.
The clear benefits of lead management automation should have B2B marketers jumping to purchase it.
However, back in 2009 this Forrester study reviewed a number of vendors in this area, they saw an underachieving space. Market penetration was low (between 2% and 5% of B2B firms have invested selling to <25M$ companies).
Forrester named some reasons for the slow market adoption:
- Heated competition battling to grab share: because of the “big CRM players” beginning to play in this field, buyers hold back their investments because they believe they have the functionality already in house through their CRM system
- A massive amount of new players entering the playfield all with different backgrounds claiming to have similar functionality. These claims keep B2B buyers running from demo to demo and scratching their heads over which offering will best meet their needs.
Today, looking at the recent Gartner report of June 2012 the CRM market as a whole, of which this industry is very much part, enjoyed a strong rebound in 2011 with revenue reaching $11.9 billion in 2011, a 12.7% growth from 2010.
What would happen if your business ran out of viable customers? What if the pipeline of new blood permanently dried up?
The continuous rotation of campaign taglines, creative messages, and clutter-busting noise helps to keep a baseline level of acquisition activity. OK.
And somehow along the customer life cycle, we loose them. They churn, churn, churn.
I think the starting point of doing business should be:
NO LEVEL OF CHURN IS ACCEPTABLE.
The cost of acquiring new customers
Companies today are using advertising, promotions and lead generation campaigns to attract new customers. All these tactics take a big chunck out of your marketing budget. I’m not going to repeat that acquiring new customers is more expensive, we all know that.
So we use these tactics to attract new customers, because we know they work.
The problem with these tactics is that they are not working anymore, or not working as good anymore as they used to do:
- 86% of TV viewers admit to skipping advertisements.
- 44% of direct marketing doesn’t get opened anymore.
- 99,9% of on-line advertising is not clicked upon.
Additionally, sometimes your budgets are cut because of a multitude of reasons, giving you even less arm-length to reach our to buyers.
Why do companies churn?
Usually companies switch because of the following reasons: