On August 27th, Forrester hosted the first Sales Enablement roundtable in the industry focused on addressing challenges related to profitable growth objectices for large enterprise technology companies.
Assembling a balanced group of sales and marketing executives, through one lens the session could have been viewed as an economic summit. Added together, the total revues of the participants exceeded $350 Billion.To put that into perspective, that would make our panel the 27th largest economy in the world right behind Greece, but ahead of Denmark.
In a recent survey of over 2100 IT professionals who buy or recommend telecom and networking solutions, we found buyers turn to peers and colleagues first, followed by vendor, industry trade, or professional Web sites, to inform their purchase decisions. In fact, 88% said Web sites were important in helping them decide what to buy. However, many tech buyers visit vendor Web sites many times to learn about and compare products, yet few register or leave evidence of their activity.
News regarding the economic situation continues to be relatively gloomy and has been reflected in the Q2 results that offline retailers have been reporting. For example JC Penny reported Q2 comp store sales declined 4.3% versus last year, Abercrombie and Fitch Q2 comp store sales were also down by 11% versus last year.
Wal-Mart US (+4.6% w/o fuel increase versus Q2 2007, in contrast to a 1.2% increase for Q2 2007 versus Q2 2006) continues to do well on the strength of its overall low price positioning and those product lines that contain necessities rather than discretionary items. This performance shows a continued trend of consumers trading away from mid-market stores down to off-price sellers.
Online sellers like Amazon (US net revenue +35% versus a year ago); Overstock (over 20% growth in gross bookings) and eBay (WW GMV +8%) continue to post healthy increases supporting the notion that online continues to be strong. However, online sellers are beginning to lower expectations for the second half of the year in spite of their success thus far.
In contrast to the strong online performance by some of the top retailers, the census bureau's Q2 ecommerce sales increase is posted at 9.5% versus Q2 2007 - the smallest increase ever and a 22% increase for Q2 2007 versus 2006.
Thanks Tom for such a nice introduction. My cheesy music reference (quick, name the band) aside, Tom and are are the two heads of the product managment and marketing beast. His focus is on building the right product, mine is on bringing it to market.
So, let’s start with something simple – how do you get that blasted sales force to use your stuff?
Last Wednesday, Dan Klein — who heads up tech industry consulting here at Forrester — joined me on a teleconference to talk about how B2B marketers should “Define Your B2B Social Media Strategy.” Web 2.0 marketing is a subject of great interest to business marketers as almost 700 signed up for the Webinar, just over 300 attended, and 120 participated in a pre-show survey. The vast majority of the invitations went out to Forrester clients and, judging by the list of attendees, the participation ranged from large tech firms to small business services providers. Folks from software, hardware, telecom, agencies, start ups, database marketing, and media were present.
What did we learn from this interactive session? Here are a few highlights:
This just in: Microsoft announced at its annual financial analyst meeting today that it has extended its existing relationship with Facebook. Official MS release indicates "Microsoft will work with Facebook to bring its customers Live Search-powered web search and search ads by the end of the calendar year."
I dug Dave Taber’s latest newsletter edition about “The Life of a Lead”. I mean, I really “Dugg It”. The article includes a link to digg.com, so I clicked it, registered, and voted for his document. Not simply because I like his ideas, but because I want to experience the “wisdom of crowds” firsthand and see how communal voting might apply to B2B marketing.