The Forrester Blog For Sales Enablement Professionals
This blog is a roll-up of all the posts from analysts who serve Sales Enablement Professionals. Individual analyst blogs are listed below. Visit Forrester.com to learn how we make Sales Enablement Professionals successful every day.
Now that the confetti has been swept off the floor of our eBusiness Forum in Chicago, its time to offer a behind the scenes look at who won our 2012 B2BGroundswell Awards and why. Mark you calendar and register today for our upcoming Webinar on November 8th in which the judges will dish on the companies and social strategies that knocked their socks off. Who knows, you might get an inside track on winning next year, or better yet, knocking out a winning social strategy of your own. Register here to save your space on this one time reveal on the best of the best in B2B social.
There continues to be a cacophony of marketing noise from technology vendors about their cloud strategies; while the announcements sometimes include messaging for their channel, many partners are still unsure of their future role in the industry. Nearly two years ago, Tim Harmon and I (Peter O'Neill here) published two reports on this, and earlier this year the Cloud and Technology Transformation Alliance (CCTA) reported that its survey of 229 channel partners in North America revealed that 13% of the partners still lack a cloud strategy altogether and 42% describe their strategy as “nascent” or “evolving.” CCTA also collected the alarming statistic that 65% of channel partners know that they’re losing business because of their cloud shortcomings; that is, the partners know that their customers are asking for cloud services but cannot react.
Peter O'Neill here. I hope that most of you would agree that mastering customer experience is just as valuable for B2B firms as it is in B2C. And yet, there isn’t much information around on B2B customer experience, let alone case studies providing practical advice on how to get B2B customer experience right. Well, at Forrester’s upcoming EMEA Forum dedicated to Customer Experience (London, November 6-7), I am hosting a “virtual track” of four sessions that debunks myths about customer experience for B2B companies. In one of the presentations, Jesper Thomsen, VP Sales & Customer Experience, Maersk Line, one of the largest shipping companies in the world, will discuss how his company improved its Net Promoter score from -10 to +30 over 30 months – an improvement program that involved staff throughout the enterprise. I recently caught up with Jesper in preparation for his session – for a sneak peak on how Maersk mastered B2B customer experience, check out our conversation below. I hope to see you in London where Jesper will share the full story!
Today’s buyers control their journey through the buying cycle much more than today’s vendors control the selling cycle. Although it varies greatly with product complexity and market maturity, today’s buyers might be anywhere from two-thirds to 90% of the way through their journey before they reach out to the vendor. For many product categories, buyers now put off talking with salespeople until they are ready for price quotes.
This buyer dynamic changes the role of B2B marketing in a fundamental way. Marketing now owns a much bigger piece of the lead-to-revenue cycle. And B2B marketers must take responsibility for engaging with the customer through most of the buying cycle.
Forrester research shows that today’s B2B buyer will find three pieces of content about a vendor for every one piece that marketing can publish or sales can deliver. They are finding this content in an ever-expanding number and variety of channels. And they are accessing these channels from an increasingly diverse array of devices. Without debate, the business from business buyer is already much more multichannel than the business-to-business sellers are. Buyers of business products and services are online, in social channels, on YouTube, going to events, and evaluating options on their iPads and smartphones. The buyer’s journey looks a lot more like this than the linear models (e.g., the funnel) that we usually use as a graphical representation.
The University of Massachusetts released its annual survey of social media usage at Fortune 500 companies. The report revealed that in the past year, these business giants have increased their adoption of blogging by 5%, their use of Twitter for corporate communications by 11%, and their use of Facebook pages by 8%. Sixty-two percent of the 2012 F500 have corporate YouTube accounts, and 2% (11 companies) are posting on Pinterest. Sixty-six percent of the F500 are now on Facebook. Seventy-three percent of the F500 have active corporate Twitter accounts.
However, what caught my attention was another recent survey that the University was also promoting on the same web page. This survey examined how universities use social media to attract students to their MBA programs. The study showed the same sort of increases that the F500 survey revealed. However, the headliner take-away from this research was “The Missing Link in Social Media Use Among Top MBA Programs: Tracking Prospects.” The report concluded that “the missing link appears to be tracking those who first become interested in the program through one of the program’s social media sites. Being able to measure whether these prospects actually apply to the program is something schools may be looking to do, but have not yet mastered. Without this piece of information it is difficult to really assess the effectiveness of the social media plan and to know where future investments should be made.”
As I talk to companies in large and small companies about their lead-to-revenue processes, the most frequent topic over the past six months has been about leveraging social media in demand management programs. I’ve compiled a list of the most common questions and my perspective:
As we turn to September it's time to think about your plan to meet the CEOs goals in 2013.
You and your executive management have probably already articulated that your growth strategy is predicated on "deepening relationships in existing accounts while expanding in new markets." The math looks compelling — if your typical salesperson could just sell 10% more of the portfolio to their current accounts, organic growth would be off the charts. Unfortunately, your situation is just like every other B2B business with a broad portfolio of capabilities and a blue-chip roster of clients — cross-selling is a lot harder to execute than most CEOs think.
Welcome back to us all from vacation. I, Peter O'Neill, would like to join the discussion on “What is marketing?” ignited by an HBR article a few weeks ago — if only because of the reaction to my last blog post, where I pleaded for HP marketing to do something about its worsening brand standards. That post hit a nerve, generating several urgent inquiries with B2B marketers. A few clever journalists even wrote articles afterwards that combined comments on HP’s business prospects from Steve Milunovich, investment analyst at UBS, with my point of view, as an industry analyst, about HP’s lack of marketing agility.
While most responses were statements of violent agreement, one point was frequently made: “Which marketing group should be stepping in to stem the tide?” Another was: “Yes, but does that brand stuff matter? We are still selling our kit to customers — they don’t seem worried.” I like to keep things simple, so, for me, there are just two disciplines in B2B marketing:
· Brand marketing. Often called “corporate marketing” or even “marcom,” this discipline is responsible for the marketing of brand values; running centralized marketing processes such as customer/market intelligence and public/analyst/blogger relations; and perhaps managing social media services, such as listening and content management.
Brocade held its Asia Pacific (AP) Partners Summit 2012 last week in the capital of China’s Yunnan Province, Kunming. For a company which has been the subject of perennial takeover rumors, I was interested to know if it had anything new to convey to its partners. I was also looking forward to meeting Regan McGrath, Brocade’s newly appointed VP for Global Channel Sales and Marketing and Charlie Foo, Brocade’sVP for the Asia Pacific region.
Brocade emphasized three key target areas for innovation and investment:
Ethernet Fabric: Brocade’s 2ndgeneration Ethernet fabric technology is aimed at organizations driving virtualization and cloud-related consolidation initiatives.
Campus Network: Part of its Effortless Network vision, Brocade’s recently announced HyperEdge technology targets innovation in the campus LAN market.