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Account-based marketing is no fad: How and why CMOs should commit

ABM

This article was originally published on MarTech Today .

Less is more. It’s such a simple phrase, and yet it holds so much truth.

In the business world, we’ve all experienced how much things improve if we focus on fewer tasks at a time. It makes us better marketers and salespeople — more focused, effective, thoughtful and empathetic toward those we are selling or marketing to.

A lot of jargon is thrown around in sales and marketing. There are even more fads, so much so that it can be hard to keep up. But Account Based Marketing (ABM) is neither jargon nor a fad. It’s an important trend all marketing and sales teams should take note of. It’s based, after all, on the premise that less truly is more.

Why should you move to an ABM approach?

Part of the problem today is that we often operate in silos in business. We get caught up in numbers, quotas, leads and revenue. These benchmarks can create incentives to hoard individual credit and distinguish ourselves, rather than align strategically with others and make larger gains and get bigger wins together. These benchmarks also encourage a quantity-over-quality mindset, because employees are constantly trying to get more leads and more wins. This is to an organization’s collective detriment and hurts its bottom line.

In the past, many marketing and sales teams took a “spray and pray” approach to generating as many leads as possible. It was a volume play. Some organizations could get away with this, simply because their solution was best in class. But now there are too many startups and too many worthy competitors for any organization to take this antiquated approach — a company can’t distinguish themselves just by spamming potential buyers with generalized content.

Furthermore, buyers have access to unprecedented information. Just as a diner would check out Yelp to see a restaurant’s reviews before booking a reservation, a prospect today will do extensive research on potential solutions — often before they even make contact with a salesperson.

In fact, 78 percent of buyers now spend more time researching purchases in an effort to mitigate risks, with many spending up to three months researching vendors anonymously, according to the 2017 B2B Buyers Survey Report by Demand Gen  Report.  That means they won’t be receptive to vague sales pitches that don’t address their specific pain points.

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Source: Demand Gen Report 2017 B2B Buyers Survey

An ABM approach, if executed correctly, solves these issues. It brings together teams and individuals to focus more deeply on what truly matters: your highest value customers and prospects. And it engages these high-value targets in a manner that’s truly meaningful.

What exactly is ABM?

The core premise behind ABM is that you treat each individual account as its own market — that means you tailor your outreach and go-to-market strategy and make it as customer-centric as possible. At the core of ABM is empathy — you have to truly understand your audience — what their goals and fears are — and you have to constantly put yourself in their shoes.

I even like to imagine what my prospective customers’ personal lives look like. What kind of car do they drive; do they have kids and a family; are they liberal or conservative? What do they do outside of work for fun? You have to truly empathize with them to get inside their heads and be able to effectively market and appeal to them.

The results speak for themselves: 87 percent of companies using ABM report it offers higher ROI than other types of marketing: According to the Information Technology Services Marketing Association, 69 percent see improved annual revenue per account.

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But why is that? The Pareto Principle (or 80/20 rule) states that 80 percent of a company’s revenue comes from 20 percent of its customers. This is particularly relevant in the context of ABM. Using this principle makes sense because it emphasizes why focusing and nurturing high-yield customers is so vital to marketers.

ABM programs are most effective for targets with complex, long and sometimes political buying processes. In contrast to lead-based programs requiring engagement with thousands of companies, ABM’s effective audience ranges from dozens to hundreds.

How do you move to ABM?

If it’s too difficult to entirely shift from a lead-based model to an ABM model right away, then do it slowly.

Identify the highest value prospects in your pipeline, and make sure your touch points are tailored to them. If there are certain industries you sell to that you know have more extensive buying cycles, prioritize an ABM approach with them. This gradual rollout may even be advantageous: You’ll learn how and where you need to be personalized throughout your sales funnel, and where you can get away with a more systematic method.

Additionally, I think it’s important to avoid limiting your ABM approach to just marketing and sales. Envision the other ways a personalized, customer-centric mindset can benefit your team. For example, when it comes to managing people, I used to take the same approach for all my direct reports: weekly one-on-one meetings, annual reviews, the potential for bonuses at the end of the fiscal year — you get the idea.

It wasn’t until I started incorporating ABM into my marketing approach that I realized it was a smart way to manage employees as well. I started treating each employee as an individual customer who might value more vacation or educational training over a monetary bonus, for example. Some needed more or less feedback than they received during a weekly one-on-one meeting.

After incorporating the ABM mindset into management, I found my marketing team to be more engaged in their work — and our prospective customers to be more engaged with our outreach as well. And that’s a true win-win for any business.

Want to learn more about AMB marketing? Discover the basics — and how webinars can enhance your ABM efforts — in “The Webinerd’s Guide to Account-Based Marketing. ” 

The post Account-based marketing is no fad: How and why CMOs should commit appeared first on ON24 .

To view our Partner blog, click here

How to use webinars to drive engagement and increase pipeline

Best Practices

This Questions and Answers interview was originally published on b2bmarketing.net .

What are the common mistakes businesses make with webinars?

Mark: Companies tend to think of webinars simply as a top of funnel, lead generation tool. Their goal is to get as many names as possible. Many marketers don’t even care what happens during the live webinar, once they’ve acquired the leads they simply send them to sales and claim victory. That’s just outdated thinking.

The modern webinar is all about engagement. They’re multi-media, interactive experiences, where the goal is to get your audience members to take as many actions as possible which then provides you with actionable information about your prospects.

And this engagement model works across the entire buying cycle. Today, we see companies replacing static content like white papers, case studies and demo videos with interactive webinars. Just imagine letting your prospects hear directly from your best customers on a webinar? Now that’s an effective case study. Or replacing that canned demo with an interactive tour of your product? There are so many ways that webinar engagement can supercharge your marketing.

Do you think people underestimate the power of webinars?

Oh absolutely! In a time when we measure engagement by the click or mere seconds spent on a landing page or in an email, we have very few opportunities to have real human moments with our prospects. That used to be the role of sales but the modern buyer doesn’t want to engage with a salesperson. So what replaces that experience? That’s where webinars come in. What other chance do you get to be in front of your prospects for up to an hour at a time? An hour where you can not only present content to them but where you can also interact with them in meaningful ways. And this interaction is going to give you the insights you need to find and convert your best leads.

What do webinars mean for sales teams’ engagement with prospects?

Well, I feel for salespeople these days, their job isn’t getting any easier. Buyers are inundated with sales and marketing emails and prospecting calls which has resulted in them being numb to most sales methodologies.

Further, and I’m going to say something bold here, most salespeople are used to getting weak leads from their marketing teams. And I say that as a marketer. Let’s be honest, it’s true. Webinars however are the one marketing technology that can change that reality. Now you can capture every action that a prospect took in a webinar (questions asked, poll responses, survey data, content downloaded, etc.) and put that data into Salesforce, or other CRMs, for the salesperson to view before making contact. This enables them to continue a conversation as opposed to starting one. And that is a game changer.

How can you optimise interactivity in a webinar?

Well, I believe that webinar interactivity should be scripted right into your presentation. Just like you script your story and your slides, you should plan how you are going to interact with your audience. When I build a webinar, I always plan out a few polls to help fuel a good conversation with my audience. I will often script a few different spots in the webinar to take questions, not just wait till the end. Sometimes I build in gamification too. I also encourage the audience to live tweet, download content and click on CTAs. The point is, you should optimise your webinar to ensure your audience is involved and interacting with you and each other as much as possible. Increased engagement will lead to higher content retention and more importantly, it will provide you with more data for effective follow-up later.

Where is the ROI in webinars? What’s the business case?

Webinars have such a high ROI for such a small investment. The business case for webinars is that they enable you to quickly and cost-effectively engage with large numbers of your prospects in a real human way. Webinars are now where the selling happens. It’s where we find our best leads and how we convince them to become customers.

It kills me every time I talk to a company that is using a meeting or conferencing tool for their webinars because their IT department already had a contract in place. Don’t get me wrong, meeting tools are great… for meetings, but that are not optimised for webinars. The investment in true webinar marketing platform will likely have the highest return of anything in your marketing tech stack.

Webinars have clearly developed over the years. What do you think is the future of webinars?

There are two ways that I think webinars are evolving. The first is that the live experience is no longer the only goal. We’re now living in the on-demand economy, meaning people want to consume content on their own time, in their own way. Content needs to be always available and easily binge-able – and this goes for webinars too. We’re seeing many companies moving to the Netflix model, where they’re building on demand gateways or hubs where valuable webinars are made available for immediate viewing. These gateways are where you can archive webinars after the live event is over, to extend the life of that content. We also see companies building webinar content that’s produced straight for on demand without a live component. Webinar gateways are an effective way to get more people to the right content.

The other area I see the role of webinars changing is in personalisation. Account-based marketing programmes have become an incredibly important part of modern marketing strategies. We all want to be more targeted and we do that by offering a more personalised experience. But most ABM strategies focus on the targeting and not what happens once you make contact. We’re now seeing companies creating customised webinars that are created for specific accounts, industries or use cases, to add a higher level of engagement to their ABM programmes. That includes custom landing pages with targeted webinars as the primary content.

What do you think webinars do for brand image?

So much. In many cases, webinars are where your prospects first experience your brand – and not for a few seconds but for a long period of time. You have to think about your webinar console as if it’s a virtual lobby to your company. As I mentioned above, you should always customise your webinar consoles so when your prospects attend your events they feel enveloped by your brand. You can create a lot of stickiness to your brand imagery with such a long exposure if you do it right.

Can webinars allow you to understand your customers better?

Well, here lies the true magic of webinar engagement. The more you interact with your audience, the more you can learn about them. Webinars are where your prospects actually tell you what’s on their mind: their challenges, needs and interests. Their interactions with you (through polls, surveys, Q&A, chat, social, downloads etc) provide a much better picture of your prospects and customers than you can get with any other marketing technology. Marketers all want to be data driven and engagement is the only way to get the data that really matters. It’s simple maths: webinar engagement gives you the insights you need to convert prospects into customers.

Mark’s tips to achieving best practice in webinars

  1. When promoting your webinars, don’t keep sending the same email repeatedly. Mix up the message and mix up the email type. The same goes with social media, don’t tweet the same thing over and over again. If it didn’t work the first time, it probably won’t the second or third.
  2. Make sure your webinar console looks and feels like your brand. You have people staring at a fixed location for up to an hour, give them something to look at. Integrate your logo, top-line messaging, corporate imagery and colours. Make sure your webinars are a great reflection of your company.
  3. Dial up the engagement. As I said earlier, the more interactive your webinars are, the more actionable data you’ll get to qualify your leads and convert them into pipeline. Literally script engagement into your presentations by integrated polls, Q&A, gamification, etc. Your audience will appreciate it too.
  4. Play with the formats. Don’t treat all webinars as talking powerpoint presentations. Some of the best webinars I’ve seen lately didn’t even have slides, they were simply great discussions with interesting people. Try panels, interviews, chat shows, and other formats to change the tone of your events. It will also take the pressure of your presenters. Instead of giving a ‘formal’ presentation, they can have conversations with each other and the audience, which is a better experience for everybody.
  5. Have an on-demand strategy. According to our recent Webinar Benchmarks Report, 35% of people who view webinars will watch on demand – not live. If your webinars only exist as a moment in time, then you’re losing up to a third or more of your potential audience.

 

The post How to use webinars to drive engagement and increase pipeline appeared first on ON24 .

To view our Partner blog, click here

Announcing Webinar World: Engage for Action

CMMA Blog

At some point, your audience stopped caring. They tuned out your communications and skipped over your content. It’s what happens when people are reduced to data points.

We know you get it. We also know that the pressure of keeping the business running is so overwhelming that you have no choice but to produce more. More content, in more channels, with more fleeting touches delivering superficial data and diminishing returns. The more you interrupt, the less it feels like a genuine conversation. So, when the conversation ends, so does any real connection to your audience, along with an opportunity to gain meaningful insights about the real person on the other end.

That’s why it’s imperative for every brand to rethink engagement. At ON24, we know there’s a better way—a more compelling, human approach. It starts with dynamic, relevant, multimedia content, delivered both live and on-demand, connecting with your audience when they want to through interactive features like polling, chatting, surveying, and more. And, finally, turning connections into insights that you can act on and share seamlessly across your operations.

Join us at Webinar World 2019 and to learn how to Engage for Action. Because if you redefine the way you engage with your audience, you can redefine your success.

Ready to Engage for Action? Register now for Early Bird rates

The post Announcing Webinar World: Engage for Action appeared first on ON24 .

To view our Partner blog, click here

CMO Confessions Ep. 8, Simple’s Sara Gonzalez

APAC

Hi everyone and welcome to yet another edition of CMO Confessions. Last week I promised you a double-whammy and I’m here to finally deliver. This week, we have someone truly special — Sara Gonzalez, CMO of Simple.

Sara took the time out of her busy schedule to speak to a few key items that I think us marketers here in the Americas need to keep in mind. First, things in the Americas aren’t all that different from things in APAC — and that’s largely due to their scrappy, agile nature to service a truly massive region. Second, that the ideas of B2B and B2C markets are largely a misnomer — people tend to buy things the same way. Finally, and this is something I could not agree with anymore, that marketing needs refocus its energies on strategy — and not to confuse it with tactics.

A few housekeeping items to take care of before we dive into it. First, if you’re interested in listening to our growing podcast series, you can find all of our episodes right here in podbean. Alternatively, you can also find us on both iTunes  and Google Play  stores.

Second, Sara has helped pen an excellent eBook entitled, “10 Things I Hate About Marketing ,” which you can find here . She and her colleague, Rob Brown also hosted a webinar on the subject, which you can listen to here . I highly recommend it.

Third, well, there’s not much for third. It’s time to get into it. Without further ado, welcome to CMO Confessions. Let’s chat.

Transcript

Joe Hyland:

Hello and welcome to this week’s episode of CMO confessions a weekly B2B sales and marketing podcast where we explore what it really means to be a marketing leader in today’s business world. I’m Joe Hyland CMO here at ON24 and joining me this week all the way from Sydney is Sara Gonzales CMO of Simple. Sarah, you doing?

Sara Gonzales:

Good morning, how are you?

Joe Hyland:

Good afternoon. All right, so just a little bit about you from my perspective Sarah and feel free to jump in and then we can dive into what we’re going to talk about today.

Sarah, you help marketers removed the complexity and becoming more efficient through the reinvention of marketing resource management software. That rolls right off the tongue. Give us a little more from your take on what that means.

Sara Gonzales:

You did pretty well. So, thank you. Similar to yourself — marketing to marketers — and one of the things that we see here at Simple, and we see it globally as well as its massive issue of complexity when it comes to marketers. So, we’ve got so many channels to market. We’ve got so many, you know, abundance of tools that we need to use as well and, you know, MarTech space is getting bigger and it’s getting more complex.

So, Simple provides software to actually manage all those tools and connect the brand the customer experience. So, think of it as your strategic up-planning tool to manage execution tools below.

Joe Hyland:

That’s fantastic and you’re doing some really cool things — I can’t wait to talk about it. One thing I’ve been asked by my team to point out was below in the description we’ll have a link to your ebook, “10 Things I Hate About Marketing,” where you discuss everyday modern marketing drags and how you combat that, fight against it and bring the joy back to your job.

So, with that do you want to start off? I’m a pretty optimistic person but I’ll start off on a pessimistic topic — let’s start with what you don’t like about marketing. What are some of the drags of marketing?

Sara Gonzales:

Yeah, the big pain points I think that grind us every day. I think one thing I don’t like, especially about B2B marketing, is that we call it B2B marketing still. I find, that marketing in general we talk about it being around the customer experience, but we tend to treat customers different; their buying behaviors,  the customer journey — based on whether we’re selling B2B or B2C — and I feel like every single person buys the same way. If you’re the CEO of a company or, Joe, you’re the CMO, you know when you actually go and buy something personally or B2B it’s a very similar journey.

So, I feel like sometimes we get really bogged down in there and I think that’s impacting especially B2B marketing and the way that we go out there and the way that we market. I don’t know what your thoughts on that are, but I just feel like if we want to own the customer experience, maybe we should understand the customer a little bit more.

Joe Hyland:

Yeah, these are people, I couldn’t agree with you anymore. Funny story, I won’t name the company but I worked for an electronic payments company — I was in product marketing so I did not own the brand at the time — and we came out with a new corporate template and it was pictures of buildings.

And they said, “Oh, our CEO loves this because we sell the big banks.” And I said, “Yeah, but there’s those are people we sell to, like we don’t sell to  skyscrapers.” Yeah, so this is people that people marketing, right? It’s not business-to-business marketing.

Sara Gonzales:

Yeah, and I think just on that and I know the customer experience thing is massive and we’ve actually just done some research into our later study. We’ve done some research into the customer experience and how people, as marketers, actually manage or try to manage it. And one of the stats that came out of it is 59 percent of marketers actually said that their CMO or their marketing team was responsible for managing that customer experience and 87 percent said the brand consistency is really important, but it’s you know, very, very rare that they have any control over their messaging or their visual appearance or their personalities.

So, it’s sort of like we own it and we want to but we’re not really doing anything about it. So, I feel like there’s a bit of confusion for marketers which sort of gets my grind a bit. And, you know, the rest of the company has to sort of own that as well.

You need to be able to have control over those points if you want to own the customer experience in a true way. So, I think that’s something um that know I struggle with on a daily basis.

Joe Hyland:

I think that’s a fantastic point. Not that I’ve been doing this forever, but the coming up on a couple decades now — I got my haircut yesterday and there was a shocking amount of white hair on the on the ground— I saw in the last ten years, I’ve seen a real rise in the strategic nature of marketing, which is exciting. I see more and more marketers earning pipeline, which I think is really cool. But I think you were right that the next big movement, in my opinion, among marketers and marketing is going to be owning the customer experience. Because, you and I aren’t just doing our job if we get the message out and we help companies or people come and buy from us, right? Like what’s that experience? Like the entire life cycle? I think we should own that.

Sara Gonzales:

And, you know, at my previous company we had a lot of people come into our office to actually run events and a few other things and one of the things we made sure of is that we also in we also met with the customer support team on a regular basis — the frontline people. So, you could do everything as a marketer and you could create this brand and you create this, you know, there’s personality behind what you’re doing and then someone answers the phone for someone who calls the support line and they really piss someone off — there you go, that’s shut down. But you know, we started to work with our actual physical company, if you like, when people came in and our close ratio, when sales people brought people into the office actually increased because people came in and they felt this, “Oh, actually I get what your culture is like and I get them people and I want to be part of that journey.”

So, I think if you can start to own that or find ways that you can impact that then, you know, it’s a quick win almost and it’s something that’s just going to tie everything together.

Joe Hyland:

That’s a good point. That’s a more manageable way to start owning the experience, right? And then perhaps the real North Star, or utopia, is owning the digital experience. So you’re right that you got to start somewhere, right? So why not have it be the experience of when someone comes into the office?

Sara Gonzales:

Yes, absolutely.

Joe Hyland:

Okay. So, Sarah and I were in Sydney — was that four weeks ago, Sarah? It was about a month ago.

Sara Gonzales:

It’s gone really quick, yeah.

Joe Hyland:

So Sara spoke at our conference, Webinar World Sydney. I had to travel a little further than you did. We talked about some cool things. One of the things we talked about was the perception of marketers in Asia-Pacific.

First I love that, I like that those of us in the U.S. think that Asia-Pacific’s a really small region. It’s kinda big. Like a little big. No, but seriously, what is it about your market — the market, at least your region because your global — but where you live, where marketers tend to discount the sophistication of your marketing. That seems absurd to me.

Sara Gonzales:

Yeah, I feel like it maybe has stemmed back before my time.

Joe Hyland:

There we go.

Sara Gonzales:

Yeah, just the fact that Australians especially have been behind, or, you know, everything can come a little bit later than Americans, especially. But I feel like that now, we’re seen as being part of the APAC region now — you even got Japan in there as well. There is so many amazing things happening over here, but I don’t know if it’s the time delay or the accent or the weather.

Joe Hyland:

I think it’s the accent.

Sara Gonzales:

It has to be something…

Joe Hyland:

Here’s what’s absurd about it to me. So, you and I are both fortunate enough to run marketing for pretty cool companies. So, that’s fantastic. But we have the same challenges.

So, I don’t necessarily view that my challenges any different from yours, suddenly. They’re different companies. So, first, the challenges are the same. When I was down there — and I came down twice now in the last year — I saw really sophisticated digital marketing from you and your peers. So, I guess I don’t really see how this is grounded in reality.

Sara Gonzales:

I think, and you know what, I think it is changing now, slowly. And I think one of the reasons why people are actually looking to this region and saying, “You know what, you guys are actually getting shit done and you actually know what you’re doing,” is the fact that we are a lot smaller and we’re actually starting to take advantage of that. Because, now that we are smaller, we’ve taken a step back and said, “You know what, we can be a little bit more agile and we’re more nimble.”

That means we can increase our velocity and we can also get stuff done and we can be sort of trailblazers in certain key areas. And yeah, we don’t have the capacity a lot of companies, especially a lot of startup companies, down here. We’ve sort of you know, we’re the second round of Silicon Valley if you like. And we look to you guys over there and we’re like, “Oh.” You know, and start ups are massive over here. And we’ve got massive hubs that are invested in startups down here as well.

So, I think there’s a lot of learnings that we’ve taken from you guys over there and I brought them down here. But we’ve just sort of adapted them and we made them our own. So I think now, you know, Simple, as well, our company, we’re doing the opposite of most companies where we’re a start-up Down Under and we’re taking that to the U.S.

Obviously, there are some challenges there. But I think a lot of companies over in the U.S, —and you would know this at ON24, Joe, starting up in Australia — there are a few little differences. But, like you said, a lot of it is the same challenges, and it comes down to that fact that we’re all people. And we all you know, wake up. We all go to bed. We all do the same thing. I think the perception has to change — not necessarily around a location or what we’re doing — but the fact that it’s person-to-person marketing if you like.

Joe Hyland:

Yeah, no. No, that’s right. Every individual at a company has a goal, a challenge, whether it’s personal or professional and great marketing is still mapping how you can solve those challenges, right? So, for me, that’s why it’s just a little silly. I think, joking aside, a lot of it is the time difference. I think that you’re in the middle of some pretty big oceans and it’s very far away from from the U.S.

I even see — I do this as well. I set up a call for us on Friday for the team and our team in Sydney said, “Is it okay if we don’t call in? It’s Saturday at 2:00 in the morning.” I’m sorry. I didn’t mean to do that. So I think it’s just because it’s so far away. Very front of mind — a huge focus. But yeah, you can call in on Saturday at 2 a.m., right? That’s okay.

I have one question that I feel like Australians are quite proud of and they would in no way think that they’re behind America in which is coffee. So, the only complaint we got from our conference was “Conference was great, loved the content, speakers were phenomenal, the venue was first-class — you had absolute shit coffee.” So, talk to me about how Australians view their coffee.

Sara Gonzales:

You know, I did notice that at the conference — and I was looking for proper coffee because you guys have just the copy that you pour. Just like basic coffee…

Joe Hyland:

…You see? Just like classic Americans, right?

Sara Gonzales:

…Kettle coffee, we call it. When I was over there I remember sitting down one morning and I had a bit coffee and they came up — I was in San Jose — and she’s like, “Refill?” And I was like, “No no, no, it’s fine. Keep that away from me.” Yeah, it actually all started in Melbourne.

So, Melbourne is like the hipster place of Sydney, if you like. Marketing genius as well. Like, I couldn’t live in Melbourne because I’m not cool enough to live in Melbourne — that’s just a fact. I’d have to judge myself, what I wear every day,  “Is cool enough? Is this a few weeks ago?” You know, the trend.

Yeah, they’re very trendy and it’s all about the beards — and if your Barista who’s making your coffee doesn’t have a beard or a man bun, I think.

Joe Hyland:

Yeah, that’s a non-starter. Yeah, you got to have a man bun.

Sara Gonzales:

Yeah, exactly. So, let’s come over here and Sydney’s trying to be a bit like that. But, yeah, coffee is massive over here.

Joe Hyland:

Are they are they are they good marketers in Melbourne or is this just more hipster coffee scene?

Sara Gonzales:

I think just Baristas and coffee and, you know, the whole — even the coffee cups that you got us — there’s is outrage over here now because… So, I don’t know if you know this at ON24. So, simple one of our pieces of swag was a keep cup.

Joe Hyland:

I didn’t.

Sara Gonzales:

Yeah, the cups where you keep and you walk around and you put your coffee in them because the actual coffee cups over here — a lot of marketers actually use them in terms of branding. So, if I was, you know, in selling something that was related to coffee I could go and give the coffee shop cups and say, “Hey can use my cups?” And, you know, people walk around with them. It’s great exposure. However, those cups are not really recyclable. And they don’t actually break down. So, now they’re actually proposing that they — over here on cigarettes, they have those warning labels with disgusting images — and proposing they do that on coffee cups now.

So, the coffee is great, but the amount of controversy that’s coming around coffee right now is whole other level.

Joe Hyland:

That would not fly over here. Do not tell Americans what to do. Do not regulate a thing. Yeah, that wouldn’t. That well, actually, it’s not true — in San Francisco that would be very popular.

Okay, we’ll get back into things. So, one of the things I love most about my job is, like, this. Like, how cool is it that part of my job is having a discussion with a peer? Like having a marketing discussion. Your role is cool and what you guys do at Simple as cool because I think at least, you’re helping marketers with their strategy.

I’ll talk to a lot of marketers and they’ll do one of two things. I’ll say, you know, “What’s your strategy, what are you trying to accomplish?” They’ll either list a whole bunch of tactics — I’m gonna do a white paper, I’m gonna do a webinar, I’m gonna do a blog — It’s like, okay, well, let’s not confuse a tactic with it a strategy. Or, and this is particularly bad here in Silicon Valley, we’ll just list a whole bunch of types of technology. “Oh well, I’m doing ABM, right? I know, I’m redoing my website.” And they list all this tech that they’re using — which is cool, but again, I don’t know if it’s grounded in a foundation of how to solve their business problem. So, you get to help marketers with their strategy, right? Like, I feel like that would be empowering and really cool.

Sara Gonzales:

Yeah, so, obviously managing, having a place to manage all those channels is important. And, in essence, that’s part of what our software does, but the other part of it is taking a step back.

One of the things we’re looking to do is getting markers to remember why they even fell in love with marketing in the first place. And I think a lot of that is, you know, there’s so much data around now and you know, it started off with creativity. And one of the things people are saying to us, you know, originally why they fell in love and why they still come back to marketing is that perfect blend of art and science together.

So, we’re no longer the crayon department and we’re no longer just about pretty pictures. We’ve got data or we’ve got science and we can actually use that — not to only justify what we’re doing and prove what we’re doing — but we can also start to make that impact. When it comes to revenue, and like you said, on the sales side, managing pipelines, but one of the things that we find is the tool that we don’t have actually piece this all together is — hate to plug ourselves but something like this — so, you know briefing, right? You know, you’ve got to write a brief. You’ve got to get a campaign out and for someone like myself, and even a lot of marketers we speak to, the brief seems to be the other forgotten child almost. Let’s do a brief, a few bullet points let’s put it together. Let’s suddenly run a campaign and then, you know what, suddenly the campaign doesn’t work.

So, you look to the tool that you use, or you look to your budget, or your look to the people who ran it and you look at all these tactics and you don’t actually look back to the brief and actually align that with the goal that you had in the first place. So, we find that’s a massive disconnect over here. So, what we’re trying to do is bring intelligence into this and say, “Okay, how can we use the brief and get marketers a place where they can actually keep going back to the brief and use it as their anchor point, almost. So, then they can actually fully understand how their tools are performing, what’s actually happening, how everything comes together.”

Because otherwise, I feel like we’re just blaming it on, you know, because we’ve got MarTec there and that, so we’re going to blame it on the piece of technology or, you know, we’ve got a sales team. So they’re going to turn around and blame it on that, but we’re not actually looking at the full picture and we’ve got way too much data.

Joe Hyland:

Yeah, we have too much data I could talk about all day long. I think the problem is even worse than what you just described. I think so many marketers — and there’s so much — it’s a good problem to have, marketing isn’t just the pretty colors anymore so there’s pressure on marketers to grow and there’s so much pressure that we just want to do more, and more, and more and do it quicker, and quicker, and quicker and it’s like don’t worry about analyzing it — we’ll just figure it out. We don’t have time to analyze.

I think a lot of marketers — when you talked about a poor man’s or a light brief — I question how many marketers are even putting together a brief before a program.

And are they doing a proper post-mortem? I would criticize ourselves.  A couple years ago — so I’ve been running our marketing for three years — a couple years ago we ran a campaign, we had a brief. Like, I think we put a lot of thought into it, ran a campaign; it didn’t work. That’s okay, not everything will work — and there were people on our team that didn’t want to do a post-mortem. It was like, “We don’t have time to analyze why it didn’t work. We need to move on to the next thing.” It’s like well, “Don’t you think we’re at risk of just repeating the same mistakes if we don’t actually go back and analyze it?” So, I think that is more and more common than many people realize.

Sara Gonzales:

 And you know, there’s this some look it up, if you don’t know about it, there’s this famous campaign over here in Australia called, “Dumb ways to Die,” and it’s pretty much it’s hilarious, the creative is amazing and it’s about cartoon characters showing. The whole idea was to — a lot of people actually die on train tracks over here. So, a lot of young kids so cross the train tracks, I’ll get hit by a train or they’ll be graffiti on train tracks. So, it’s actually a really big problem.

But there they actually put a spin on it and it was literally the little cartoon characters with their bodies getting chopped off. And they had this really catchy song and it was great. And the amount of views and the amount of virality it got ‚ it just went everywhere. It was really shareable, social media went off. But actually — everyone spoke about that and they won all these awards — but when they actually go back to it, and this is something they didn’t actually advertise, obviously, more people actually died on trains that year.

So, that’s an example of, you know, you’ve got something out there and we’re like we want to be more than just a creative department and we want to be more than just pretty pictures. But you’re actually measuring your success by something creative if you’re not actually measuring results.

So, to me, that’s like, well, you know we want this but do we really? Is it just easier to sort of just tick something off the box and win an award for it? So I feel like yeah massive disconnect once again.

Joe Hyland:

Yeah, I think that’s a super good point. I agree that great marketing is the mix of Art and Science — it’s what’s fun about marketing for me. I love the intersection of these two things.

I found a couple of things interesting here. One, I think a lot of marketers didn’t go into marketing because they’re data-driven if you will, though I don’t really love that phrase, but so I think sometimes it’s a challenge. I think, you know, it’s not necessarily a first love. And then the second point I would make is —our observation — is that there’s so much data today. Like, I find in — we use Marketo — so, if you open up a lead record in Marketo and you look under the activity history or their interesting moments — there might be hundreds of interesting moments. What am I supposed to do with that?

I find it’s hard to make sense or see trends in these seas of data.

Sara Gonzales:

And it’s funny because I feel since automation has come about — and I’m a massive Marketo fan as well — but automation has come about and we’ve got all these data but I feel like you sort of manually need to go through it. And you need to actually have this Instinct. So, there’s the instinct that comes into marketing because you’ll go through it — and there are certain things that you can’t have a robot pick up, right? — so If you do go through those hundred records, you’re going to need an inside sales person or someone to go, “Oh actually that’s interesting” and in their head tie it back to something.

So yeah, I find it really interesting as well and I think you know — on that point — the whole impact of AI and how it’s going to impact marketing and all the machine learning and everything like that. You’re still going to need people there because you’ve still got — marketers have that instinct about certain things and I think it’s probably maybe 25 percent of what I do. That feeling, it’s like, “Oh I know this is right and I’m looking at data there and I can see the patterns.” So yeah, I think that’s an interesting point.

Joe Hyland:

Yeah, and the art doesn’t go away like I don’t I um, I don’t yeah, the Geeks are kind of coming into to marketing. I mean, I think that influx has occurred. But one of my one of my first bosses — I was a year out of college — and I said, “Well actually doesn’t matter what the email copy is and what the subject line is, we’ll test everything, we’ll A/B test it.” And he said, “Well, you know, any idiot or a monkey can just throw a dart board and just keep adjusting but like great marketing is knowing your audience.” And like right like there is some gut feel and there is really knowing your personas inside and out so you don’t have to A/B test everything. So, yeah, people aren’t going anywhere. Marketing departments when they get more money, they’re still hiring people, right? Like, I don’t see everything being outsourced or everything being automated.

Sara Gonzales:

Yea absolutely.

Joe Hyland:

Yeah, what are your views on AI in marketing? Are you guys using any? Are you anti-AI? Do you think it’s the wave of the future? What are your thoughts?

Sara Gonzales:

Well, our new platform has been built on Microsoft. So, we’ve got massive potential to bring the intelligence into it. And we will. But I feel like for us it’s so big. And over here there’s so many conferences and every now and then — you have these run of conferences every year, Joe,  and you go to them — and there’s something really shiny people love, you know. Two months ago it was all about blockchain. It’s all about machine learning and it’s all spoken — up here.

So, as a marketer you go there and you get really excited and you go back to your desk and it’s like, “Oh, you know, this is what I learned and it’s like, well, how does it actually apply to me as a matter? How am I going to use that?”

So I think that the potential is massive and I think, like you said, I’m not scared of it — I think if anything it’s going to increase jobs within marketing because you still need that human element. But what I do think is that there’s very few organizations, especially software companies, out there telling us how it’s going to impact what we do every day, how it’s going to help us tie everything back to that customer experience. And you can have great technology, but it’s not going to solve all of our problems. And I think, as marketers, who are selling technology out there, you need to if you could go out and say, “Here’s how this is going to impact what you do every day and here’s how you’re going to be able to tie that back to your goals.” If you do that, you’re going to go into a winner.

So, I think, as a company, that’s our next challenge and how we do that. Because, like I said, we’ve got so much potential with so much technology, but not everyone needs it all.

Joe Hyland:

Yeah, no, totally. Great marketing is about the “why” not the “what,” right? Like, I think if I could give advice to myself 15 or 20 years ago, it would be always focus on the strategy and the foundation first and don’t rush the tactics. I think we all sprint to the deliverables — they are tactics and they’re critical to executing on the strategy, but it, in fact, starts with the strategy.

Yeah, I couldn’t agree with you anymore. So, I have a question, which I don’t think you’ll see coming. So, when we were over in Sydney, I was…

Sara Gonzales:

It’s early for that

Joe Hyland:

It is early there, right? Yes, but I won’t stop you. This is actually easy for you. But I don’t think you think I’m gonna ask it. When I was over there, I was incredibly impressed with how sophisticated you are with your digital and webinar marketing — and we’re not going to be able to show that over a podcast, right? But, I think our listeners would benefit from hearing you talk for a minute or two on your views on digital marketing how you’re doing content and webinars,  how you look at your strategy to drive attendance, keep engagement during a live event, actually have an on-demand strategy. Like, you’re doing some really cool things and I was pretty impressed and I think people would love to hear it for 90 or 120 seconds.

Sara Gonzales:

Firstly thank you. It’s nice to hear that.  Secondly, I think and I mentioned this to you while you over here that webinars are pretty dirty over here —and they’ve got a bit of a bad reputation.

I think, for us, webinars are not just something that we have to do as a tactic. So, going back to your point, they’re part of the bigger picture. So our content — we create a lot of content because marketers love content, right? And part of our content strategy you know webinars come into that. So like I said, they’re an extension of the content that we create. So, any given month we have a key theme, and like I said, too, we’ve released its research report and this is probably a good example because I was really impressed with how this worked out two days ago.

We created this research report. We went and interviewed 300 marketers and we came up with these amazing results. So we’ve got the results, we’ve got some nice pretty graphs, but how do we actually disseminate that information actually start a conversation around it?

So ,firstly we partnered with the Australian Marketing Institute over here. As the peak body and to also give them credibility and then we did a co-webcast with them. On the webcast, though, and our webinars — I call it a webcast but this sort of interchangeable, arrive? I don’t want to get caught up in semantics.

Joe Hyland:

Yeah, same yes,

Sara Gonzales:

And this is great, having a webcam, but in terms of engaging marketers and I think even, you know, understanding that webinars are an extension of your brand we have panel discussions. So, it’s almost like TV on the internet, if you like.

So, everyone who downloads the report gets invited to a discussion, but the people on this discussion is myself, who’s interviewing one of our key customers in the financial services — and she’s really big on compliance and she’s passionate about probably three key areas that we were speaking about — another one of our prospects and then also our chief product officer.

So we started having this conversation around the results. First of all, within the platform we started, people — before we went into the results, for example — one of the questions might have been what’s your biggest struggle with briefing? We actually use polls to actually ask the audience what their struggles were and then we actually showed them the results so they can actually feel like they’re part of the study.

Joe Hyland:

So you make it interactive, right? Rather than just like a talking PowerPoint for an hour, like you’re literally asking people for their feedback and then the dialogue changes based off what they say.

Sara Gonzales:

Yeah, and then compare it to the actual study and then have the people talkin about the studies. So it’s much more of a conversation. Utilize the resource folder to actually then upload the report and other pieces of content that we have relating to the report. Because once people are actually on that event the more you can engage and the more sort of content you can give them is obviously going to benefit you and also the data you’re collecting. But now that we’ve got that we’re actually going to break down that panel discussion into — I think we know that down into eight different short videos that we can use and repurpose for marketing content.

So, one of the things that I said to you as well afterwards is not everyone wants to sit down and watch a 45-minute recording. And we only had 40 percent attendance on that event. But those are the 60 percent of people, they can choose to watch the 45 minutes or they can choose to watch maybe a five-minute segment or something they’re interested in. So, it’s really…

Joe Hyland:

I think that’s an important point and I’ll interrupt for one second because… So,you’re right so you got four out of 10 people who registered to show up. It’s easy to focus is easy to just say, “Okay, well, that’s my new audience. That’s all I care about.” You keep them really engaged with these polling strategies right and making it interactive but then afterwards you have a different strategy for the 60 percent.

Sara Gonzales:

Yep. Yeah, right. So I love that. Yeah, and that way we’re engaging people, you know, not just within that one day and you know our investments for that one hour then turns into a six to 12-month investment as well.

Joe Hyland:

Ah, yeah, that’s smart. Have you measured — speaking of Art and Science ‚ the impact of sending follow-up emails to the those who registered but didn’t attend —with the shorter content versus the full 45-minute discussion panel webinar — did you see different results?

Sara Gonzales:

Well, one of the things we do with our webinar marketing before during and after we’ve got sales development reps and we get those guys involved. So, first of all their text-based emails and their conversations with people, as opposed to an HTML email going out from marketing. So, it’s from a person her name’s Jenna she’s had contact with them for a while, and we actually see in terms — even the quick ratio that we get for people watching the on-demand content — it’s probably around 30 percent of the people afterwards actually go to watch those shorter videos.

Joe Hyland:

Okay, that’s great.

Sara Gonzales:

Yeah, it’s something we’ve only started this year and it is a little bit more difficult with the editing process afterwards. But,  even looking back like you said to their profile in Marketo and saying, “Okay, this person has actually downloaded a lot of content that revolves around compliance. So let’s make sure that they receive the compliance video.” And in the flow, we make sure that they’re receiving using keywords to actually send them content that they’re probably more interested in as opposed to something like reporting.

Joe Hyland:

Yeah. Um, yeah. No, that’s fantastic. And I think it’s also really smart that you guys have your SDRs involved throughout the process. I mean, if it’s a demand generation use case, which it sounds like this is, I think having pre-sales involved from the start is smart, right?

That way doesn’t feel like a jolting experience and afterwards someone is reaching out to them.

Sara Gonzales:

Definitely.

Joe Hyland:

Okay cool. Well, we are at the top of the half hour. You and I could do this probably for the next 45 minutes and I feel like time would fly by, but I want to wrap things up.

Sarah, this was this was fantastic. I’m gonna look up Dumb Ways to Die. I was not familiar with this campaign. So I’m excited. It sounds like you guys are on a mission over at Simple to make marketers great again. That is a phrase that is …

Sara Gonzales:

You always have to throw that in, right?

Joe Hyland:

I said very similar…

Sara Gonzales:

 I’m not making that a thing, Joe. I’m not going to use it — stop trying to…

Joe Hyland:

Sorry, once I say it for the third time it sticks. You said webinars are dirty over here, so we’re gonna have to dig into that next time. But it seems like you’re cleaning things up and you’re doing a great job with it. So that…

Sara Gonzales:

I’ll take one for the team.

Joe Hyland:

You’ll take one for the team, thank you. With that, let’s wrap up Sarah. Thanks again. This was this was fantastic.

Sara Gonzales:

Thanks, Joe.

Joe Hyland:

All right by everyone.

The post CMO Confessions Ep. 8, Simple’s Sara Gonzalez appeared first on ON24 .

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Are MQLs Relevant Anymore?

addressable market

This article was first published on marketorium.com

The concept of relying only on marketing qualified leads (MQLs) to measure effectiveness might be going the way of platform shoes and disco balls.

MQLs are losing favor as a one-size-fits-all measure of marketing’s ability to push sales leads down the pipeline, say B2B industry leaders.

Although marketing automation gave rise to the prospect of MQLs becoming the standard marketing metric for organisations, many believe they are too open to misinterpretation and deception. Some see them as nothing more than a marketing vanity metric.

The MQL measure is certainly unable to take into account the circuitous journey B2B customers make on their way to making a buying decision. Businesses that bombard poorly targeted MQLs with sales and marketing collateral are unlikely to deliver exceptional experiences to potential customers, either. Then there’s the common complaint that so few MQLs convert into actual sales leads.

Joe Hyland, CMO of webinar software company ON24, says MQLs are misleading and not a useful gauge of marketing effectiveness within many B2B businesses.

“You can manipulate MQLs very easily,” Hyland says. “If my boss said ‘Joe, I need to see a 50 per cent increase in MQLs over the next quarter’ I can go into Marketo and change what qualifies as an MQL and immediately double the number.”

Hyland says because marketers can move the threshold of what qualifies as an MQL, it’s open for abuse … especially when incentives are attached to its importance. He thinks marketers should concentrate on what is right for the business and their customers.

“I’m less interested in having 10,000 MQLs a quarter than I am in having 2000 meaningful interactions where I’m helping persuade someone,” Hyland says.

ON24 has now changed its approach to lead generation. In the past, the ON24 marketing team had such a low MQL threshold that its sales team complained about receiving too many leads. The sales team was so awash with opportunities, it could only make one follow-up contact on each lead.

“We redefined our addressable market – what we call our ‘ideal customer profile,’” Hyland says. “Unless a company asked to be contacted by sales, it wouldn’t qualify [as an MQL] if it didn’t match those qualifications.” Hyland says ON24 also decreased its overall level of marketing activity, concentrating instead on making quality connections with prospects.

“We actually saw a massive decrease in MQLs … but we also saw pipeline [activity] go up 75 per cent,” he says. “A sales rep may only get two leads in a week but they are high-quality leads. We’ve decreased the noise and allowed salespeople to really focus.”

The Mercer Experience

MQLs certainly have their limitations in B2B companies with relatively low lead volumes.

Mercer, for instance, is a global consultancy in superannuation, HR and financial services. Its Australian operation gets 30 to 40 leads a month, sales contracts range from $25,000 to $5 million, and sales cycles can be from one week to two years.

Natalie Truong, who is Mercer’s Head of B2B Marketing, Pacific, spoke at the B2B Marketing Leaders Forum about how she has thrown away the traditional lead-scoring model.

“In 2016, when I started at Mercer, we had an MQL target of 1060,” Truong said. “The business wasn’t fussed about what was going through the pipeline, or conversions or why leads were rejected, just as long as we were getting MQLs into the pipeline.”

Truong said that despite only achieving an MQL score of 270 that year, the team generated $1 million in marketing-related revenue with a 7 per cent conversion rate.

“So, what would be the logical thing to do in 2017?” Truong asked. “Up the MQL target.” The business set her team a new MQL target of 1364.

Truong decided she wanted to find another way to measure marketing effectiveness. “I said to the global team: ‘How about instead of worrying about the MQLs in the pipeline, I take a slightly different approach and I’ll guarantee you double conversion and double revenue?’ I wasn’t sure if we could do it, but what we were doing wasn’t working anyway so I had nothing to lose.”

Mercer began to filter its 30-40 leads per month manually and stopped its spam engine, which had sent 180,000 emails to about 5000 contacts in the previous 12 months.

“In 2017, we achieved 343 MQLs – nowhere near the 1364 we were set anyway,” Truong said. “But our conversion was 37 per cent and we generated $2.5 million in revenue.”

Truong said Mercer’s change in direction was unlikely to work for every business, especially those with high lead volumes.

The post Are MQLs Relevant Anymore? appeared first on ON24 .

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Summer Reading: The Five Elements of Webinar Storytelling

B2B Webinars

For the next summer series playlist track , we’re going to put on the ritz. Jazz it up a little. Add some flair to the webinar air. We’re going to talk, of course, about generating great webinar stories.

So, how can you add some glitz to your webinar story glamor? Simple: organize. Plot, plan and then push your content. Getting the elements of your story right is critical because, as Mark Bornstein notes in “10 Secrets for Creating Great Webinar Content ,” webinars are getting longer — up to 56 minutes on average in 2017. That added length means you have an exceptional opportunity to draw your audience in and push great content out.

So, where to start? Well, right here:

1. Have a goal in mind.

First, you need to have a goal for your specific webinar. This is where having detailed ideal customer profiles, personas and buying cycles in place helps. By knowing where your proposed webinar is going to fall across those three elements, you can select, craft or recycle highly relevant content that benefits the audience your aiming to address. Consider this the plotting stage of your webinar story.

2. Find inspiration in content that works

Your organization has stories. It has content. It has material you can take and turn into a webinar. For example, it has content for top, bottom, and middle-of-funnel buyers. Find the material that performs best — whether it’s a white paper, ebook, case study, research or just a blog post — and use it as inspiration for your webinars. Break your selected content down into topic areas and build out webinars based on those topics.

3. Refine

Once you have a topic selected — one that solves a problem for your audience — it’s time to refine. By refining, we mean focusing your webinar entirely on one subject and one subject only. Refrain from asides. Don’t try to connect one subject to another. Just focus on the topic you chose. By going deep into one issue, you’ll provide your audience with tangible benefits and prove your expertise.

4. Build your story

Finally, it’s time to build your story. This is where you get to add the neat little details. It’s hard, sure, but the good news is most of the heavy lifting is already done. You have an audience in mind, a topic and a specific pain point you’re trying to address. Now, all you have to do is decide how you’ll address your topic.

You’ve got a few options. You can showcase a new concept, compare strategies and tactics, demonstrate your solution (if you’re talking to bottom-of-funnel attendees) or give news-like updates on new industry developments. Whatever you chose, make sure the event sticks to your agenda, speaks on what you’ve advertised in your webinar abstract and is paced so your audience can follow along.

There are two things you should avoid, however. First, don’t make filler content. Your event should only be as long as it takes to address your topic (plus questions). Second, don’t pitch until it’s time to pitch. Audiences are coming to you for advice and help — help them first, then, when a prospect is at the bottom of the funnel, you can start talking about your company.

5. Outline and build your slides

Right, you have your narrative built out. Everything’s practically done except for the actual event content. Often, this means slides. Don’t worry — building slides to your content is easy.

First, outline what you’re going to go through during your event. This outline will serve as the basis for your slides. Second, know who’s speaking to your slides (heck, it could be you) and build your deck to their speaking cadence. This could range anywhere between 20 to 40 slides.

Does that sound like a lot? It not as intimidating as it sounds. That’s because when you build your slides, you should use a lot of white space, very little text (typically no more than three to four bullet points) and use pictures that either build a connection to your audience or help you to tell your story. The slides will fly by.

And that’s it! The basis of your webinar story is built out. All that’s left is for you to practice, adjust and present.

What else can you do to build out excellent webinar content? You can check out our entire Webinerd Summer Playlist right here . You can also check out our summer reading list for track three:

1. Webinars As a Content-Delivery Machine

2. How to Build a Killer Webinar Presentation

3. Q&A with Alex Blumberg, CEO of Gimlet Media

4. Four tips to detox your webinar slides

5. The Role of Webinars in the Buying Cycle

The post Summer Reading: The Five Elements of Webinar Storytelling appeared first on ON24 .

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