Marketing4650 Mizzou Exam 3 Katie Essing

B2B Marketing

B2B brand is one that generates more than half its revenue from business clients.

Lead Generation

Process of finding people (leads) who are likely your customers immediately or in the future.

Find information about people like their name, email ID, organization name, which you can use to initiate a business relationship with them.

Demand Generation

The entire process of developing customer demand.

A better focus for marketers, simply creating demand for a product.

Traditional Lead Generation Model

Separates Lead generation and Conversion (making a sale) but the process is essentially the same.

Edelman Trust Barometer

63% of consumers need to hear company claims 3-5x before they'll actually believe them.

Inbound Marketing

Marketing activities that draw the attention of customers through blogs, Twitter, LinkedIn, and other online sources, rather than using more traditional activities that require having to go out to get customers' attention, such as making a sales call.

B2B Buy Cycle

Needs Awareness, Research, Consideration and Comparison, Procurement

Contacting a salesperson falls where in the purchase process?

Search

Social Media

Content

Other Sources

SALESPERSON

B2B Buyers Start with _________

Search

Demand Generation Process

Content Creation

Lead Generation

Lead Nurturing

Lead Qualification

Conversion

Metrics

Demand Generation Process: CONTENT CREATION

Informative, not persuasive content

Repurposed Contend

Demand Generation Process: LEAD GENERATION

Prospects self identity by signaling interest in the product

Reduces Costs

High-Ticket Consumer Sales Process

Leads can be purchased at low cost per lead

Demand Generation Process: LEAD NURTURING

Appeal to customers based on how they actually research products and services they are interested in buying

Few buyers; large ticket-sales

Demand Generation Process: LEAD QUALIFICATION

Evaluating leads

Generated leads ready for distribution to sales force.

Demand Generation Process: CONVERSION

End goal is closing the same

Conversion Process

Identify Conversion Goals and KPI's

Define and acquire target profiles

Organize/optimize website structure

Develop a compelling message

Use effective calls to action

Enhance shopping care, lead capture processes

Test, measure and refine

Demand Generation Process: METRICS

Calculate ROI for each important conversion path

ROI

Return on Investment

It costs __________ times as much to acquire a customer as it does to retain one

3 to 30

Experiences =

Loyalty

Customer Lifetime Value (CLV) is the ultimate

Metric

Relationship Marketing

Requires long-term focus, while transactional marketing tends to have a short-term perspenctive

Sustainable Competitive Advantage

Benefits that exceptional customer service confers on enterprises that can deliver it

CRM

Customer Service, Marketing, Sales Force Automation

Analytical CRM

database enhancement, performance measurement, and selective targeting

contact management CRM system

Modules for addresses, appointments, customer files

Sales Force Automation

Integrates modules like contact management and links them to the customer database

CRM Software

Enterprise-Wide software that aims to present a complete picture of the customer

CRM in the Cloud (SaaS)

Software and data shared with all employees on a cloud computing platform

Social CRM

Using social media platforms and techniques to engage the customer base

Broadens the firm's ability to listen and interact with customers

Obstacle to CRM implementation

The cost of licensing the needed software

CRM Impacts are:

Incremental

Realized over time

Roles of Websites

Increase Sales and Generate Sales Leads

Increase Awareness and Knowledge about Brand

Act as a Hub for Content Marketing Campaigns

Interface with Social Media Accounts

Provide Customer Service

Retain and Grow the Value of Customers

Build and Online Community

Cost Savings

When setting objectives for a website, marketers must be concerned with...

The role of the site in overall marketing strategy for the firm

To make a B2B website effective:

Understand the target audience / create personas

Create right content for right journey stage

Put content where buyers are most responsive

Marketing and sales must work together

Track and measure results

What else do ecommerce sites need?

Easy navigation

Compelling product images

Fast loading time

Appropriate theme and approach

Shopping cart, search bar, sign-in

Good contact info and live chat

clear payment options

Store Finder tool

Website Development Process

1. Establish Site Objectives

2. Identify and Describe Target Market

3. Design Site Content and Navigation Structure

4. Conduct Usability Tests

5. Deploy and Tune Site

6. Measure and Evaluate Site Effectiveness

7. Refine and Improve Site Effectiveness

Website Development Process: ESTABLISH THE OBJECTIVES

Ensure goals are SMART goals based on corporate goals.

Website Development Process: IDENTIFY AND DESCRIBE TARGET MARKET

Can be done with numbers and profiles

Personas humanize the numbers

Have personal account options

Website Development Process: : DESIGN SITE CONTENT AND NAVIGATION STRUCTURE

Eye tracking technology and heat maps show how viewers attend to content

Good navigation structure allows them to find content easily

Website Development Process: USABILITY TEST

Performed at intervals during site's life on a schedule to ensure continuing site effectiveness when measurement indicate a usability problem

Prototype Testing

Full Usability Testing

Website Development Process: DEPLOY AND TUNE SITE

Deploy the site to the appropriate servers

Tuning it for optimum performance

Marketers need to be vigilant to ensure the site is providing the best possible CX

Website Development Process: MEASURE AND EVALUATE SITE EFFECTIVENESS

Ongoing Monitoring of site performance is essential

IT responsible for operational performance.

Marketing is responsible for business effectiveness

Website Development Process: TRACK AND ANALYZE DATA

Make incremental improvements as indicated

Consider when entire site redesign is needed

Website creators who want to prioritize mobile-friendly design should take a _______________ approach

bottom-up

Characteristics of a good app

The brand must have a clear strategy

Helpful if task is often performed on the go not on the desktop

The brand has the resources to produces a good app

The target audience is heavily mobile

Mobile Users tend to be very ______________ _______________

Goal Oriented

Benefits of Customer Service

Exceptional customer service delivers a sustainable competitive advantage for a brand

Customer Service Channels

Face to Face

Call Center Tech Support

Call Center Customer Service Rep

Web Chat or Call Back

Email

Web Self Service

Social Media

Not the ____________ of channels offered, but channels that are _____________, offer quality service

Number, Relevant

Evolution of Customer Service Strategy

Live Customer Service

Web-Focused Customer Service

Self Service

Service via Social and Mobile Platforms

Crowd Servicing

Personalized and Predictive Servicing

Predictive Models for CS

Can show how to push information to customer before service needed

Can assess emotional state of customer in live chat to predict whether person will call back

Customer Service Goal

Anticipating and delivering service and support before the customer recognizes the need represents the final stage in the evolution of customer service practices within an organization.

Reasons for increased regulations:

Marketing technology including location data, online

Metrics are ______________ _______________, not communications effectiveness

business effectiveness

Tag

A few lines of code on each site page to be tracked

Session Cookies

Good for only 1 visit

Persistent Cookies

Good for a specified period of time

Third-Party Cookies

Set by a Marketing Services Provider

First-Party Cookies

Set by the website

Cookie on user computer

Cookies identifies user on opt-in sites (stores user data)

Cookie transmits user behavior data for session to website

Tags on Webpages

Captures user behavior data

Can combine it with data provided by user

Sends session data to metrics platform

Identifies user to aggregate data across multiple sessions.

Metrics Platforms

Maintains enterprise customer database

Aggregates user data into site metrics

Provides reporting platform

Furnishes reports as scheduled or on demand

Hits

Each file requested on given page

Impressions

number of times ad is requested by a browser

Page View

Page delivered to visitor

Session

Amount of time user spends on site

Click-Throughs

Number of times a link is clicked

Visitors

Number of people who visit during specified time frame

Total = all visits including multiple by same visitor

Unique = Number of different people who visit

The responses of both registered and anonymous visitors to sites can be tracked

True

Metrics by Stage in Customer Journey

Awareness: # of impressions, reach and frequency, first website visit, branded search

Consideration: Sub to newsletters, blogs, and other content, repeat website visits, inbound calls or emails, social media comments and questions, brand perceptions

Purchase (conversion): Free trails, conversion rate, ROI per channel

Loyalty: Customer satisfaction, number of repeat purchases, CLV

KPI stands for

Key Performance Indicator

KPI

a measure of business performance.

Social Media Strategy

Listen, Communicate, Engage, Collaborate

Valid Metrics Framework for SMM

Exposure, Engagement, Influence, Impact, Advocacy

The basic marketing strategies include:

Customer Retention, Customer Value Growth, Customer Conversion

Reasons the lead generation and management process is important include:

Reducing the cost of sales

Which do managers see as MOST important?

Generating high quality leads

______________ is the term used to describe the process of creating customer demand beginning with awareness and continuing through customer development

Demand Generation

Marketers use the Eloqua, Pardot, and Marketo systems to ________ leads

Score

Which is a true statement about the B2B buy cycle

The B2B buy cycle implies a process with multiple participants that occurs over time

Communication channels for generating sales leads include:

Direct mail

trade shows in the real world

zoom webinars

online advertising

Inbound Marketing Includes:

Content Marketing

Which of the following can be part of a content marketing strategy

Television ads posted on YouTube

funny memes shared on Reddit

customer comments posted on Facebook

Qualifying sales leads means:

asking a standard set of questions to determine needs and budget.

What are foundations of a CRM program?

Sales force automation and customer service

Analytical CRM includes

performance measurement

database enhancement

selective targeting

Integrating social media data into tactical CRM programs

carries inherent privacy challenges

A/an ___________ profile can be developed when a person registers on or buys something from a website

Identified

The components of customer lifetime value include:

Growth in amount spent with the enterprise

The customer lifecycle allows marketers to

target lapsed customers and win back

identify their best prospects

acquire more of their best type of customers

A CRM vision includes using __________ to create a seamless customer experience

Customer touch points and technology

Registration on a site can

provide an email address for CRM contacts

provide information the customer wants

furnish data for personalization of communications

Mei is considering a CRM project for her small fruit snack company. As she and her top managers debate the issue, what is likely to be the biggest financial obstacle to the implementation of a CRM system?

The cost of licensing the needed software

Seamless customer experience refers to:

Equally satisfying at all customer touch points

When setting objectives for a website, marketers must be concerned about:

The role of the site in overall marketing strategy

Typical website objectives include

Providing customer service and support

The nature of website objectives will depend on:

The tasks that visitors expect to perform on the site.

Which of the following are true statements about the content of a website?

Most visitors will only skim the content

Among the web design elements that help create a satisfactory customer experience are:

Multiple navigations aids like breadcrumbs and different colors for followed links.