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State of Marketing Today – Salesforce Study

11 Jan

As we know, marketing is always evolving. And this is due to the Internet, social media, smarter shoppers, etc. With that in mind, let’s consider the state of marketing today – Salesforce study. Then, see what we can learn.

First, check out these related posts:

 

State of Marketing Today – Salesforce Study

When studying the state of marketing today, there are many factors to consider. In our view, they include the following. Changing consumer demographics and lifestyles. Also, changing shopping behavior. The use of digital media and technology. The Internet of Things. The decline of traditional media. Global competition. The availability of big data. Competition between bricks and clicks. And much more!

For a good overview, we turn to the state of marketing today – Salesforce study . As Salesforce notes at the report’s sign up page:

“Learn how customer experience is reshaping marketers’ mindsets in our survey of 3,500 marketing leaders worldwide. In the study, we explore these topics. Shifting priorities that spark organizational change. Marketing technology that makes waves across the broader business. And how AI raises the bar for 1-to-1 marketing and efficiency.”

You may also click the report cover to access the FREE sign up. Moreover, this is a 50-page report.

Below the image, we note some Salesforce conclusions.

State of Marketing Today - A Salesforce Study
 

Salesforce’s Major State of Marketing Conclusions

  • In general, “high-performing marketing teams represent 12% of the survey population. Those surveyed include B2B, B2C, and B2B2C teams.”

State of Marketing Today - Salesforce Study

  • As noted in the executive summary, there are four takeaways.

(1) “Marketers Move to Evolve Journeys, but Data Woes Linger. Even now, marketers still wrestle with gaining a single customer view. In addition, there are elevated customer expectations and newer channels. While high-performers better coordinate marketing across channels, most others fail to adapt messages.”

(2)Shifting Priorities Spark Organizational Change. With the flood of customer data, firms are rethinking everything from job roles to how marketing functions. From account-based marketing to closer alignment with customer service, top marketers are change agents.”

(3) “Marketing Tech Makes Waves. In general, marketers expect use of marketing technologies to skyrocket. And high-performers tend to be heavier tech users. Most of them report that  current tech does this. It aids collaboration. It increases productivity. And it drives a cohesive view of data. Also, top teams cite data management as key for 1-to-1 marketing across each touchpoint.”

(4) “Marketing Embraces the AI Revolution. AI is the technology where marketers expect the most growth. Internally, marketers view AI as way to create more efficiency. For customers, most marketers want get more from their data and ramp up personalization without burdening their teams.”

 

Marketing Content for Selling Technology to B2B Buyers

3 Jan

In marketing technology, we must remember that business-to-business (B2B) buyers represent a large share of the market. For that reason, it is vital to use the best marketing content for selling technology to B2B buyers.

Overall, the marketing of technology cuts across many topics. And in both the B2C and B2B segments of the marketplace. For example:

Now, let’s cover marketing content and the B2B buyer.

 

Marketing Content for Selling Technology to B2B Buyers

In general, the marketing content presented to B2B technology buyers must differ from that presented to final consumers.

As Kaitlin Loyal notes for Scribewise:

“B2B technology buyers thirst for knowledge. Their jobs change incredibly fast. And it’s very important that they keep pace with the latest innovations. In that way, they keep their firms on the cutting edge. Also, they help them run securely and efficiently. Yet, finding reliable, believable information is not always easy.”

“And that’s an opportunity for B2B technology firms. CTOs (chief technology officers) and CIOs (chief information officers) consume technology content marketing. They read white papers, E-Books, blog posts, etc. They look for helpful information. But not too sales-oriented. Firms that deliver build a trust-based relationship with their customers and prospects. In the long run, that type of relationship can mean shorter sales cycles and more sales.”

To show the impact of high-quality, thought leadership-oriented content, Scribewise has created the following infographic. It details the importance of developing and delivering content to the high-tech market.


 

Addressing Competitive Analysis Questions

7 Dec

Ongoing Competitive Analysis a Must

Good competitive analysis is essential. And that applies to large AND small firms. This post covers addressing competitive analysis questions. But first, let us begin with three observations by us.

  1. Detailed, accurate information helps firms make better decisions. And firms then enact better tactics. Yet, getting comprehensive, targeted data is not always simple.  (1)
  2. In the competitive global marketplace, marketers face a tough balancing act. On one hand, they must promote their products as superior to other offerings. But, customers may become unhappy because they buy something not meeting expectations. Then, they may be lost to the firm that over-promises forever. (2)
  3. Entrepreneurship can be both exhilarating and scary. It gives a person a chance to carry out a vision for a business. However, it may also entail risk. Motivation and an innovative business concept are great building blocks. Yet, they are not sufficient to prosper in a competitive market. Success as an entrepreneur — and growing over a long horizon — requires diverse skills and a solid approach. After starting up, entrepreneurs may look back and ask “what if”? What if I picked a different opportunity? And what if I listened to advice I got? Also, what if I better planned my cash flow? etc. etc. (3

 

Addressing Competitive Analysis Questions

With the preceding in mind, ask competitive analysis questions. And address them.

As Christine White reports for HubSpot:

“When was the last time you ran a competitive analysis? If you’re not sure, or if the last ‘analysis’ you ran was brief, you are missing important intelligence. And it could help you grow. Yes, each firm can benefit from regular competitor analysis. By performing a competitor analysis, you’ll be able to: (1) Identify gaps in the market. (2) Develop new goods and services. (3) Uncover market trends. (4) Market and sell more effectively. By learning any of these four skills, you will go down the path of achievement. But don’t get too excited to start. We need to nail down a few important basics.”

White offers 57 different questions to consider in a competitive analysis.

And by clicking the image, you can access a FREE competitive analysis toolkit: “HubSpot and Alexa.com teamed up to give you our competitive analysis campaign kit. Don’t know where to start? We have a guide to walk you through it. Ready to dive in? Check out the template.”

From the download link, save the zip file. Then open it in the folder where it is saved. You will find two resources: a guide and an interactive toolkit template. 

Addressing Competitive Analysis Questions. A HubSpot Toolkit.

 

Personalized Marketing’s Future Looks Engaging: Tips

4 Dec

As we know, personalized marketing is a big deal. Thus, personalized marketing’s future looks engaging [pun intended 🙂 ]. Let’s see why. And offer several tips.

 

Background on Personalized Marketing

So, how should we define personalized marketing? Consider these observations from three prior posts:

  • One of the toughest issues for marketers is how much to personalize. On the one hand, firms need as much customer data as possible to target individual shoppers. On the other hand, many customers want their privacy. And they do not appreciate it when they are overly tracked. [1]
  • In today’s high-tech marketing environment, personalization is a major competitive advantage. Thus, personalization can involve products such as the NikeiD footwear line as well one-to-one communications. As Conversant Media puts it: “Virtually everyone agrees a personalized message tailored to an individual’s wants and needs is more apt to drive a sale than a general one.” [2]
  • Neustar (a data-intelligence firm) published a report on personalized marketing. “Customers expect it. And technology enables it. As a result, brands that deliver it generate huge increases in ROI. Personalization goes beyond adding a customer’s name to communication. Customers expect relevant content in the right channel at the right time. Whether on a brand’s Web site, a social network, or an E-mail inbox. For brands, delivering one-to-one experience at scale requires leveraging complex data sets, processes, and platforms.” [3]

 

Personalized Marketing’s Future Looks Engaging

Consulting giant McKinsey & Co. produces excellent FREE material. And it covers diverse topics. Recently, it published this article. “What Shoppers Really Want from Personalized Marketing.” In that article, McKinsey notes:

“Gotten an unsolicited and irrelevant offer on something you’ve done online? Know the creepy feeling that ‘someone is watching me’? This reaction is the third rail of the drive to personalize interactions with customers. And that’s a problem because, if done right, personalization can be a huge hit. Targeted communications that are relevant and useful create lasting customer loyalty and drive revenue growth. The challenge: To personalize in a way that doesn’t cross lines and delivers genuine value and relevance. But how do you know?”

Click the image to access the article.

Personalized Marketing's Future Looks Engaging. Overview.

 

Personalized Marketing Tips

According to McKinsey, what do consumers value most?

 1. “Give me relevant recommendations I wouldn’t have thought of myself. Shoppers don’t want constant reminders of products they’ve already bought or searched for. Especially if the ads appear either too soon, too often, or too late in the process.” Instead, personalize products. The figure shows a McKinsey example of this. 

Personalized Marketing's Future Looks Engaging. Product recommendation stage.

2. “Talk to me when I’m in shopping mode. Previous order data can provide useful cues about activities. Such as ordering a gift for someone’s birthday or anniversary.”

3. “Remind me of things I want to know but might not track. So, help shoppers track specific events. Such as when someone may be running out of an item bought earlier. When a desired item is back in stock or on sale. Or when a new style is launched for a product or category the shopper has often bought.”

4. “Know me no matter where I interact with you. Thus, communications that seamlessly straddle online and offline experiences make a customer feel a firm really knows them.” And the figure shows a McKinsey example of this.

Personalized Marketing's Future Looks Engaging. Personalized discount.

5. “Share the value in a way that’s meaningful to me. For instance, loyalty programs and purchase data are useful. (a) By telling firms the products an individual customer buys. (b) By seeing how often he or she buys. (c) Be learning when they buy. (d) And by knowing what product categories they never buy. Thus, personalizing (‘gamifying’) the experience leads to purchases and new buying behavior.”

 

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