How ‘false positive’ personality types disrupt B2B intent data.
There is no argument that when a B2B buyer begins their journey, they start online. All of the research and data points are right, the journey starts with a search; often times with a solution and/or vendor in mind. Do you know what else B2B buyers do? They search for information even when they’re not in a buying cycle, which is a problem because our tools don’t know the difference. Here’s what you need to keep in mind.
If your organization is in the “advisory” or information services industry, and/or considered to be a thought leader in the industry, congratulations, the majority of the people consuming your content are not buyers, they’re fans.
The expensive intent data you’re buying or retargeting campaign is going to waste because it is tracking engagement, and not real intent. To get to intent, you must first understand the audience’s motivations.
In particular, there are two segments of your audience who actively search and use content but neither doing as part of a buying journey, and if they are, they’re planning to make things difficult. Take for example these two scenarios.
1. The false positive “C-level”. Nothing will set off the bells of a lead nurturing program like a C-Level hitting your content. A senior executive “Seeker/Sharer” personality type is constantly scanning the horizons searching for new insights. The problem is they don’t own anything. They love finding new solutions, ideas, tools and vendors, but a resulting action will require someone else’s involvement. These personalities will “turtle” on you, hitting your content especially if you’re a thought leader, and then disappear only to reappear again in three to four months. It’s super frustrating for lead nurturing programs because they are not linear. They’ll hop around from topic to topic as they search for information to share with others. Unfortunately, this personality type only meets the “A” on a BANT scoring index, the budget and need, most often, will sit with someone else.
2. The entrenched “status quo seeker”. This is a tough one. Not only can this personality fool marketers, they can also trick sales into thinking there is interest. The “Neophobe” personality type seeks to reinforce their own point of view by consuming information that aligns with their own beliefs. Think of this person as someone who only watches Fox News or CNN as their source for political news and information. Your content doesn’t move them to take action, it entrenches them in their own world. Even if it was different from their POV, they will read it through their own filter that will align with how they think. As for confusing sales, this personality is friendly, in fact, it’s one of their key attributes, but they will do nothing to advance a sale, advocate for your brand and/or solution. It’s just not in their DNA.
Once you are able to filter out the false positives, you can get to real intent. “Intent” is shown through intentions…e.g. someone has to do something. Downloading a piece of content or attending a webinar doesn’t dig deep enough into motivations to satisfy that criteria.
To do that you need to understand how different personality types interact with each other in the buying group, this requires watching their online behaviors. The key is not consumption of content or engagement, it’s sharing.
The “Seeker/Sharer” whom I mentioned earlier, they are the most important audience for marketing. Stop chasing them and find out who they are sharing your information with…that’s your target. Seekers will find the “doers” inside the organization. And those people will most likely also have the need and the budget.
Now you have intent, that person intends to drive the buying process forward… because it’s their personality, they champion other people’s good ideas. Sharers need champions, champions need sharers, and you need to know them to be successful.
Scott sat down with an old friend and senior tech executive, Stephanie Anderson, to discuss how to survive and thrive in the sales culture as a B2B marketer. With Stephanie’s substantial background in sales, service, marketing, and now as the chairman of the board of a healthcare software company, she brings a vast amount of knowledge and expertise to the conversation.
In the interview clip, Stephanie and Scott talk about sales misperceptions of marketing and what marketers can do to strengthen the relationship.
Along with the discussion on sales and marketing culture, Scott and Stephanie also dive into a conversation on CMOs, what is on their minds, advice for those new to the role, and what should be top of mind when “selling” to a CMO.
Watch the Full Interview here.
https://vimeo.com/368034169
Highlights from the Full Interview:
2:31- The advantage of having a sales background
10:20- The Sales versus Marketing divide
20:03- What is on the minds of CMOs
25:20- What advice would you give new CMOs.
To hear the conversation with Stephanie, listen or download here.
We’ve tried surveys, but they say one thing and then do another. One on one sessions, yep, tried those as well. How do we really know what our clients want? Over the last few months, I’ve had the opportunity to speak with close to fifty marketers, friends, clients and former colleagues. I didn’t have an agenda or a pitch, just a conversation about their career path and how they decided on their professions.
The conversation eventually made its way into a discussion of relationships they had with various consultants, advisors, and agencies. Just for kicks, I built a word cloud from my notes and saw five themes emerged around what they wanted from a vendor — I call it the five “S’s”.
Smarts – this was a common theme — “I don’t want to have to explain my business to the vendors that I work with. They need to do their homework.” Almost every conversation had an element of the client wanting vendors to be up to speed when the engagement started. Time is money and clients don’t have the time (especially on their dime) to get you up to speed. And, for big consulting firms and agencies, don’t get comfortable with thinking you have a lock on all the brightest folks. They use plenty of very smart individual contractors. Many of them, just came from your world.
Skills – similar to the above comment, clients want to work with agencies and consultants that have the skill sets that they can’t find, hire or retain. This was especially important when it came to digital talent. They have made investments in MarTech but are having a hard time finding the talent to optimize, or even operate, the technology…and it is becoming more difficult.
Speed – “I need the vendors I hire to operate at the speed of my business,” said the CMO of a Fortune 50 hi-tech firm and others echoed her comment. There were also comments related to responsiveness. If you’re standard policy is to respond to a clients’ email within 48 hours, you’re about 40 hours off on their expectations. Being more responsive can buy you time on deliverables. Clients want to know, or at least feel, like you’re making progress on their effort. Gaps in communication create the risk of your client feeling like they are not getting the attention they deserve or pay for…and they know when you’re stretched too thin.
Simple – combine Smarts with Speed and you get Simple or at least that is what the client would love. They want to be able to understand your recommendations so they know exactly what decisions, or action, to immediately execute. Consultants — they are tired of the upsell, where one problem suddenly surfaces another problem, especially when they haven’t received the output of the first project. Agencies — the more complexity you add to a campaign the longer clients believe it will take to execute. Smart, valued vendors take complex problems and make them simple to understand and resolve. They know they have other issues they just need to address the problem in front of them.
Spirit – this one surprised me and took some time to understand. The core of this theme was rooted in marketers stating that they wanted to work with vendors who were “enthusiastic” about their business, or “passionate” about their own jobs/role. They want a partner who brings some fun and/or passion that may be lacking in their organization. If you are pitching an idea an important part of the “sell” job is how you deliver it. If you’re not excited about it, they won’t be either. The last thing you want is a client who doesn’t want to talk to you because they know it won’t be enjoyable…they have plenty of those meetings internally. Be their break in the day, the good news, the breath of fresh air they so desperately need…especially at the end of the day or week.
Surprisingly, I didn’t hear cheaper. Don’t misunderstand, they want value and recognize that to get it they have to make the investment. Now that you know what they really want that shouldn’t be a problem to deliver, be the bright spot in their day.
Organizations are spending millions of dollars to “digitalize” themselves, as a way to become more agile and responsive to customer needs. As Gartner says, “Companies should be able to ‘react at Internet speed’ with real-time analytics to better understand individual buyers, and how to serve their unique needs.”
The payoff of these efforts is a more competitive and innovative organization that provides a consistent and engaging customer experience. As the organization become flatter and more transparent, it also brings a certain degree of risk. And, increasingly, that risk is falling on one group.
Yes, you guessed it: marketing.
According to HBR’s Designing a Marketing Organization for the Digital Age report, marketing is not only responsible for creating a consistent customer experience across the enterprise; perhaps even more challenging, it’s responsible for getting the organization to embrace change.
Ramping up the organization to operate at the new “Internet” speed of change is critical, according to McKinsey’s Cracking the Digital Code global survey. Forty three percent of executives surveyed said that high-performing digital companies go from idea to implementation in less than six months.
And let’s not kid ourselves about the herculean effort this may involve. Twenty five percent of executives who participated in the survey expressed concerns about their organization’s ability to keep pace, and its ability to adopt an “experimentation” mind-set required to make this transformation.
Marketing is, however, well equipped to take on the challenge; it has always advocated for customers and their experiences. Now it’s being empowered to take ownership of it across the entire enterprise. Marketing has long been the “tip of the spear” for digitalization, operating as the “hub” of digital interactions with customers for years. No other group has had to embrace and operate at the “speed of the Internet” like marketing has.
So it’s not surprising that 75 percent of marketers expect to be responsible for the customer experience, according to the Economist Intelligence Unit.
If marketers can successfully bring about the change needed to digitalize the organization, it should also yield additional organizational benefits that go beyond the customer experience. For example:
Improving the culture. 89 percent of senior executives said that great companies build cultures that consistently create excellent customer experiences. Corporate culture also plays a critical role in attracting and retaining digital talent, according to McKinsey.
Aligning customer service to the brand message. Although this has been discussed for years, companies are increasingly aligning the performance of customer service to brand health metrics, according to the HBR report. The Aberdeen Group also noted that when customer service is in sync with how marketing manages the brand, company revenues rises, as do social media mentions.
A new organizational model. According to Frank van den Driest, author of The Global Brand CEO: Building the Ultimate Marketing Machine, in a digital world, marketing will evolve from expertise in “things” like television, ecommerce and media, to “thinkers” who excel at understanding and using data, “feelers” who are immersed in customer behavior and interaction, and “doers” who implement campaigns, creating content and measurement.
Given the importance of this digital transformation, improving the customer experience is now the No. 1 CEO expectation of their chief marketing officer, according to Gartner. For years, marketers have been asking for a seat “at the table,” and now they have it…and it’s a hot one.
The 2015 planning season is upon us. It’s the time of year when the C-Suite is busy sharpening their elbows to ready themselves for the budget brawl. To help arm marketers for this blood bath, I’ve pulled together benchmarks and/or research needed to defend and win marketing dollars. Here are some answers, and sources, for your five toughest budget questions.
How much should we be spending on marketing? It’s a classic question and a favorite of CEO’s everywhere. The mere mention of it is enough to stop marketers in their tracks. Fortunately, the AMA, McKinsey and the Duke Fuqua School of Business have got your back with their 2014 CMO Survey. Section 3 of the report contains data from 350 marketers on their spending from digital to people and programs. The research even breaks spending out by size of company, type of company (B2B or B2C, and B2B products or services). The report is packed with valuable information — it’s a “must have” for any marketer this year.
What should the mix between people and programs? This question comes shortly, if not immediately, after the question above. Ten years ago the general benchmark ratio was 40/60, forty percent of the budget went to staff and the remaining to program spending. Now it’s the reverse, 60/40 people to program spending, for a number of reasons. The biggest factor has been the need for specific skill sets that are in high demand relating to analytics, social media and content marketing have driven up staff cost. Need more information, here’s a useful infographic on the real cost of social media, including salary cost for staff.
Where should we invest? Typically, this is a teaser question, and could also be asked as; “if you had an incremental $1 (or $10K, $100K, etc.) where would you invest it?” Keep in mind that just because the CEO is asking the question doesn’t necessarily mean you’ll get the incremental funding, but you better be able to answer the question. To do that see IBM’s C-Suite Priorities report entitled The Customer-activate Enterprise. The research, collected from face to face interviews with over 4000 senior executives, provides insights into the priorities of each member of the C-Suite. The top priority in the report is Digital. Including everything from increasing responsiveness to customers, to making the organization more agile and responsive. Specific priorities for CMO’s, it’s about capturing; analyzing and using customer data across touch points.
What’s the payoff/return/business impact of Social Media? There are a number of sources that you could tab into to help develop a response. I’ve always been a fan of HubSpot’s State-of-Inbound. Additionally, if you have downloaded the CMO Study mentioned in bullet #1, there is a whole section on Social Media (see graphic). Interestingly enough after four years “Visits” and “Followers/Friends” are still the leading social media metrics today. Personally, I’m not a fan, try using measurements related to engagement. Note the gains being made in “Conversion Rates” and “Buzz Indicators” over that last four years. This is the result of the development of better measurement tools. Here’s a great cheat sheet from SocialMediaToday on the Top 50 Tools. For digital and mobile benchmarks download Adobe Digital Index’s Best of the Best Report.
What return should we expect from our marketing investments? This is a loaded question. Recognize that what the executive really wants to know is: “What will marketing do for me and/or my group?” As a result, answer the question based on their area of interest, and in their language. If it’s a sales executive, talk in terms of new leads, customers and pipeline value. If it’s the CEO, talk about brand value, revenue growth or customer retention or loyalty. Rarely is this question asked on behalf of the organization as a whole. Even more rare, is the executive that believes the numbers you’ve quantitatively derived for a ROI.
Lastly, go in strong and ask for a bigger budget. Here’s a report to keep in your back pocket in case you need it, Gartner’s CMO Spend 2015: Eye on the Buyer. The report will support your request for an increase, and maybe help the “powers that be” understand that if you’re not getting a bigger budget, your key competitors probably are…now go get ‘em!
It’s not unusual to find companies referring to their relationship with clients as “partnerships.” It’s common to find client logos on vendor websites. But how often do you see an agency or consulting firm’s logo on client websites? If you visit www.evepark.ca – that’s exactly what you’ll see.
Carbon Design, represented side by side with, a global architecture powerhouse, a world-class designer, and the project principal: the innovative green-tech engineering firm, S2E Technologies Inc. Under S2E’s leadership, these firms are inventing a new consumer category – one that integrates bold new ideas about housing and transportation – and radically resets the carbon footprint of both at the same time.
CASE STUDY
Did you know, that until recently restaurant owners only cared about the cleanliness of the food prep area? Most customers, and owners, assumed that if someone got sick after dining out it was because of food poisoning. That was until Carbon Design and Challenger Inc. helped “challenge” the norm by showing owners that half of the outbreaks in a restaurant were caused by people to people transmissions.
Now owners know where the “hotspots” are, and as a result, restaurant are cleaner than ever. Grab your face mask and enjoy a safe night out, but you may want to avoid the raw oysters 😉.
CASE STUDY
How do you do it? By giving clients and users what they want. Using the remaining budget that was to be used to update the site with the new branding we designed and built an entirely new site on a new platform. But audience needs are constantly evolving so the work never stops. Our team continues to audit performance and make improvements.
As a result, the two-year journey has paid off with the site being named #1 in the industry. Even more importantly, their key priority areas (site search, attorney profiles, etc.) were ranked in the outstanding category. Proving that excellence is a journey not just a destination.
We’ve tried surveys, but they say one thing and then do another. One on one sessions, yep, tried those as well. How do we really know what our clients want? Over the last few months, I’ve had the opportunity to speak with close to fifty marketers, friends, clients and former colleagues. I didn’t have an agenda or a pitch, just a conversation about their career path and how they decided on their professions.
