Monthly Archives: February 2009

Demand Generation – Week in Review

Unfortunately the flu got the better of me last week, so my blogging and Twittering came to a halt. But let’s make the best of it, and collect a list of news from the past week. Lots of interesting things happened, and insightful articles were published. I probably missed several things, but these are the highlights:

Top-5 B2B Marketing tips

Jon Miller at Marketo summarizes the key findings of several B2B marketing thought leadership interviews.
1.Start with a solid base
2.Use Push AND Pull Tactics
3.Integrate Your Efforts
4.Innovate
5.Test, Test and Retest

Market2Lead 4.0 released

Market2Lead has launched version 4.0 with a completely revamped user interface. I was planning to write a short review, but haven’t found time for this yet. To be continued…

B2B marketing is Obsolete

Laura Ramos has published the final piece in the “Obsolescence of B2B marketing” series.
1.Build a marketing-only database to capture buyer insight
2.Shift from simply generating demand to managing it
3.Combine digital and traditional tactics to build dialogue around needs and motivations
4.Embrace the groundswell and community marketing principles

Social Media and B2B Marketing

Steve Woods wrote this blog post that gives some great ideas on how to use social media for B2B marketing.
1.Set your information free
2.Focus on being credible
3.Understand their buying process
4.Match your marketing to their buying process
5.Keep interest high through nurturing
6.Only sell when they are ready to buy

10 Tips For Tweeting A Live Conference

Mike Damphousse wrote an interesting article for those who want to use Twitter for PR, in this case for the coverage of an industry conference (the Sales 2.0 conference next week in San Francisco). I will also attend this conference, so let me know if you want to meet up!

Vtrenz changes name to Silverpop Engage B2B

After being acquired by Silverpop, Vtrenz continued under its own name for a while, but now the name has changed to Silverpop Engage B2B. Which makes me wonder: do they rule out using Engage for high-value B2C sales processes? In any case, it’s good they make a clear choice and are developing a new brand for this established marketing automation product.

Marketo 3.0 First Look

David Raab got a sneak preview of the new release of Marketo and writes about usability aspects of Demand Generation systems in general.

Genius.com announces Genius Enterprise

Apparently it’s the week for new releases: also Genius.com is preparing a new product: Genius Enterprise. Key new features are automated lead nurturing and lead scoring. David Raab again has the scoop.

DemandGen Report Sales & Marketing Alignment Awards

Last week I wrote about the Stevie Awards and complained that few vendors had submitted their customer case studies. This week the DemandGen Report announced the winners of their Sales & Marketing alignment awards. The winners are:

Enterprise Category: eTrique implementation at Cisco
SMB category: Eloqua implementation at Sourcefire
Fast Track category: Genius implementation at ADX

I hope this overview is useful. Please add a comment to give your feedback, or to report important events that I’ve missed. Thanks!

Marketo Wins Stevie Award for Demand Generation

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Last week it was announced that Marketo won the Stevie Award for ‘Demand Generation Program of the Year’. They submitted a case study about ShipServ, a global e-marketplace for the shipping industry (details below). Thanks to Marketo’s Lead Management software, ShipServ was able to send more email campaigns in less time. As a result of that, the number of opportunities per 100 contact requests increased from 3 to 11, almost a fourfold increase.

stevie awards logo for sales and customer service The Stevie Awards for Sales & Customer Service (formerly the Selling Power Sales Excellence Awards) honor and generate public recognition of the accomplishments of sales and customer service professionals professionals worldwide. Last year’s winner was Eloqua, who had submitted a case study about their own internal demand generation processes.

The ShipServ Case Study

The Marketo press release is somewhat short on details, but Jon Miller, Marketo’s VP Marketing, pointed me at the ShipServ case study on the Marketo website, which tells the complete story.

Before Marketo, ShipServ had been using a traditional email marketing tool from VerticalResponse. They found that this did not work well for Lead Nurturing. They had to keep a calendar with reminders for email follow-ups, and then manually create the lists and send the emails. Pretty labor intensive, and from personal experience I know this is not a maintainable solution.

With Marketo they can set up automate lead nurture campaigns based on events. An event can be time-based, but also an action by a prospect, for example a website visit or a click on a link in an email. ShipServ uses this to warm up cold leads until they are sales-ready.

In addition to converting more inquiries into prospects, and more prospects into opportunities, it has also had a positive impact on the sales-marketing collaboration. For sales it is now much easier to see how marketing is directly contributing to business success.

Product-wise, ShipServ appreciated the fast implementation, including an instant-on integration with Salesforce.com: you just enter your Salesforce.com credentials and the rest is automatic. ShipServ summarized the product as “easy to use, easy to administer, and easy to learn”.

Where is the Competition?

There may be just as many awards as there are vendors, but in this case I’m genuinely impressed: the case study gives a fair amount of details, and the results are significant. It would be nice to see more competition around these type of awards: according to the honoree list it seems like Marketo was the only finalist.

Demand Generation is not about the software, it’s about how you use the software to gain business benefits. Competitions like the Stevie Awards emphasize this, and make it easier to compare vendors, not on features but on actual results.

Question to all marketing automation vendors: are you going to submit a detailed case study to the Stevie Awards next year? I’d love to see some competition.

Sales 2.0 Conference: for Marketing 2.0 too

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I was recently invited to attend the Sales 2.0 Conference, which takes place on March 4 & 5, 2009 in San Francisco. I always like to attend conferences, so I gladly accepted. But I did wonder:

How does Sales 2.0 relate to Marketing Automation?

In the traditional way of thinking, if something is labeled “sales” it is clearly not marketing. Luckily, things are changing. The best definition of Sales 2.0 captures this, by mentioning the importance of having a customer-focused process that is supported by both sales and marketing:

“Sales 2.0 brings together customer-focused methodologies and productivity-enhancing technologies that transform selling from an art to a science. Sales 2.0 relies on a repeatable, collaborative and customer-enabled process that runs through the sales and marketing organization, resulting in improved productivity, predictable ROI and superior performance.” – Pelin Wood Thorogood and Gerhard Gschwandtner

Having applied Sales 2.0 techniques in my own job, I’ve seen that the collaboration between marketing and sales has improved significantly: the sales team now knows what they can expect from marketing. The processes are better defined, and the outcomes are more measurable.

Sales 2.0 Tools

On this blog I often cover solutions that support the marketing & sales process. If you look at the sponsors of the Sales 2.0 Conference you get a good overview of the type of products offered in the Sales 2.0 space. This is just a subset:

Genius.com
Email and analytics tools for demand generation; Genius.com offers products for both individual sales people as well as marketing teams
Marketo
Lead Management software, to streamline the lead generation process from inquiry to sales-ready lead
Xactly
Compensation management software; seems most interesting for larger sales organizations
LucidEra, Angoss, Birst
Sales & Marketing Analytics; they will probably be upset that I bundled them together,but based on their websites it looks like they do a similar thing: providing better insight into sales & marketing performance
GroupSwim Sales Collaboration
Collaboration software for Sales & Marketing teams; includes a strong knowledge sharing component.

And then there are a whole range of sales productivity tools (e.g. ConnectAndSell and Xobni) and data vendors (like JigSaw). Also, services vendors are present, from lead generation services to sales training.

The Conference Schedule

In addition to interesting Sales 2.0 vendors, the conference has an nice line-up of speakers. This includes Brian Carroll (author of Lead Management for the Complex Sale), Jim Dickie and Barry Trailer of CSO Insights, Judy Fick of Unisys and many more. The event is hosted by Gerhard Gschwandtner of SellingPower and David Thompson of Genius.com. If you want to meet up, please send me an email () or Tweet.

Are you planning to attend the conference? It looks like there will be some interesting topics for demand generation marketers, what is your take?

InfusionSoft Review – Great Marketing Tool for Small Companies

Demand Generation Market is Hot: LoopFuse, Genius.com

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While the stock market tanks, the Demand Generation and Marketing Automation markets are gearing up. This week both LoopFuse and Genius.com published very positive news.

Genius.com: 200% revenue growth

genius.com logo Genius.com reports 200% revenue growth and a 50% increase in new customer acquistions (that’s a typo from their press release). I assume that means they’ve also increased revenue per customer, most likely because they are now selling MarketingGenius, which is an email marketing tool, which sells at a higher price point than the existing SalesGenius product (for individual sales people).

Genius.com now has over 50,000 Genius users, in over 100 countries worldwide. That is impressive. However, their core functionality (tracking of prospects’ website activity) is now also offered by Marketing Automation systems as part of a bigger offering. So I wouldn’t be surprised if Genius.com will continue to expand their offerings.

Loopfuse: Series A funding

Loopfuse, a provider of open source marketing automation and email marketing solutions, has raised around $1.4 million in Series A funding led by True Ventures.

The only thing I know about them is that many of their customers are themselves open source software companies, such as Acquia, the company behind the Drupal Content Management System. As a matter of fact, Drupal is now integrated with LoopFuse. With the integration Loopfuse tags are automatically added to Drupal pages, and Drupal web forms are submitted into LoopFuse (at least, that’s what I understand based on the press release). I’d love to learn more about this system. Let me know your feedback or testimonials.

In any case, the LoopFuse people must be in euphoria after this news, at least based on the (somewhat cocky) comment on their blog:

“To Marketo and their overpriced Toy for Marketing Tots™, and Eloqua, with their Techological Torture Device™, I say, Get some coffee and try to stay awake. If it was bad for you when it was two guys (and a dog), it’s going to be an utter nightmare now.”

Tough times ahead?

You’d say that the good times must be ending some time? Or will marketing automation be the positive exception? Will Genius.com and Eloqua go IPO in 2010? That would really put the demand generation space on the map.

Sales Intelligence: Track (Down) Website Visitors

The Challenge: you’ve invested in PR, Search Engine Optimization, Pay-per-Click ads to drive people to your website. A lot of people visit, they read a couple of pages, and then they leave. A lost opportunity…

ActiveConversion, an SMB lead management automation vendor, has a solution. I stumbled upon their press release offering free Jigsaw data, and Fred Yee clarified: “If company ABC comes to your website, a simple mouseover in ActiveConversion will display ABC’s revenue range, employee size, industry etc. There are 2 million data records for companies in Jigsaw’s database, so it covers a lot of companies.”

And then you can decide to search Jigsaw to buy actual contact data of people with the right job titles within company ABC. For those who don’t know Jigsaw: it’s a business card exchange service, so their users contribute and rate the contact details. The result is that the data is reasonably up to date, they have a lot of different job titles (not just C-level and VPs) and it often includes direct-dial phone numbers and email addresses.

How does ActiveConversion know the company name of website visitors? Actually, the IP address of website visitors gives away more information than most people realize. Maxmind’s GeoIP product, for example, can identify the city, company name and even the connection speed, all based on the IP address. Try it out yourself: go to whatismyipaddress.com, copy your IP address and paste it into the box on maxmind.com, then press “get location”.

One of the first companies that offered daily reports of companies visiting your website was Leadlander. They can send your sales people a daily email with a list of company names and location. The main challenge that remains: you don’t know which person is on your website, just the company name. So who are you going to call?

That’s where the Jigsaw data can help. It’s still a bit of a guess, but at least you have names, job titles and phone numbers.

Another vendor is this space is Demandbase. Unlike ActiveConversion they don’t have a full lead management system, but they specialize in identifying anonymous website visitors and providing contact data for people within those companies. They use multiple data sources, like D&B and Hoovers. I’ve not been very lucky finding useful contacts myself: they seemed to have a bias towards C-level and VP-level executives, but I could be wrong.

However, Demandbase offers useful filters so you can focus on those website visitors that are important to you. You can enter specific company names or territories. I’m not sure if Demandbase offers this, but it would also be interesting to filter by pages visited and search terms used in Google: that’s all part of the “Digital Body Language”.

Still I wonder how actionable the information is. Regardless of whether you get it through ActiveConversion and Jigsaw or through Demandbase: what is the chance that you can actually locate and contact the right person? My gut feeling is that it’s a very low chance.

Why don’t they offer an option to chat while they the visitor is still on the website? That is a proven methodology in the consumer space that I haven’t seen very often in the B2B space. Maybe because it’s hard to ensure timely response. As a matter of fact, I used chat on the Jigsaw website last week, and nobody responded, and I waited for 30 minutes. I had a better experience on the Hoovers website, with immediate response and good-quality answers.

Alternatively, you could put more attractive offers on your website and promote those more effectively: this will increase the number of registrations. I have seen very few B2B companies actively test and optimize their online conversion rates (other than for PPC landing pages). So that may be a relatively quick win, rather than try to call people who may have visited your website.

My feeling at this time: first try to get more people to register on your website by improving the call-to-actions, then add chat if you have enough people to staff it, and only then I would consider real-time lead monitoring. At this time, it’s just not actionable enough.

What is your experience with Leadlander, Demandbase and ActiveConversion? Did you actually identify opportunities that you would have missed otherwise?

What is a Demand Generation System?

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Last year Laura Ramos, the B2B Marketing guru at Forrester, stated that the lead management automation market was confusing. There are many players, and many sub-categories. Demand Generation is probably the most confusing, it can mean two things:

Software or services that get you in touch with new prospects so you can fill your database; this could be Search Engine Optimization (Hubspot), telesales (Phone Works) or contact databases (Demandbase, Jigsaw)
But it can also mean: software that automates the lead management process once leads have arrived on your website, or are already in your database (Eloqua, Marketo, Market2Lead, etc.)

If I understand it correctly, Laura uses the first definition, while Eloqua – the leading lead management automation firm – often uses the second definition. Also, David Raab publishes the Guide to Demand Generation Systems, covering Eloqua, Vtrenz, Marketo, Manticore Technology and Market2Lead, which clearly fall within the second definition.

I must side with Laura: Eloqua and similar systems do not generate demand, they primarily manage leads (in a very elaborate way though :- )

So my suggestion: replace all instances of Demand Generation System with Lead Management System!

Does that makes sense or not?

Book Review: Digital Body Language

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I’m not sure if I like the term Digital Body Language, but Steve Woods’ book with that title I like very much. It clearly shows how the role of marketing in the complex sales has changed, and gives lots of detailed suggestions on how marketing teams can cope with this change, by using smart demand generation strategies.

Digital Body Language Book by Steven Woods In the old days, sales people managed the entire sales process: they took leads from the awareness phase, via discovery of possible solutions, to the final validation phase. Today, prospects get much of their information online, and often go through awareness and discovery without ever talking to a sales person. Sales may not be involved, but marketing for sure…

Where sales people used to look at the prospect’s body language to gather important information, the marketing team can now collect huge amounts of information from the prospect’s online behavior. Steve calls this pool of data the Digital Body Language.

It is marketing’s task to use the digital body language to move prospects through the funnel until they are sales-ready. This can be done by calculating lead scores and nurturing the prospects based on their stage in the buying process, their role, interest level and communication preferences.

A key element of marketing’s new role is to capture all possible data about the prospect. Everything should be recorded: email clicks, responses to direct mail, visits to the website, and so on. All this should be added to the prospect’s profile in a centralized database.

This also means that data quality is getting more important. The data should not only be centralized, but also normalized and free of duplicates and errors. This is also a key recommendation of another popular B2B Marketing book: Lead Generation for the Complex Sale by Brian Carroll.

A next step is to nurture the prospect according to the prospect’s stage in the buying process, not according to the vendor’s preferred sales process. The prospect’s online behavior gives hints about where they are in the buying process, and it’s marketing’s task to distill this information from the prospect’s digital body language.

Steve also advocates more collaboration between sales and marketing. He suggests several ways to involve sales more closely in the nurturing process: letting sales initiate certain marketing initiatives, such as a specific lead nurturing program; letting sales send back leads to marketing if they’re not yet ready to buy; giving sales people notifications of important prospect activity, such as website visits or jumps in lead score.

And finally, the entire marketing process must be optimized continuously, based on the wealth of data that is now available. Not only can you measure the number of marketing-qualified leads, but also the percentage of leads that are subsequently accepted by sales (which should ideally be 100%).

All these changes requires marketing people with a different skill set: more analytical, process driven. It’s not about pretty graphics anymore, it’s about capturing and analyzing prospect’s data and intelligently running campaigns based on this data. Then analyzing the results and optimize continuously.

Digital Body Language is not an easy read, because it’s chock-full of information that has never been put in a book before. Steve has added about two dozen case studies, which are brief but provide practical examples that make the book come more alive. All in all, I think this book will soon become a classic in the demand generation space.

Steve Woods is CTO and co-founder of Eloqua. He blogs on the Digital Body Language blog, and the Eloqua Artisan blog. His Twitter name is @stevewoods.

Choosing a Demand Generation System

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Demand Generation Software is a hot market at the moment. Demand Gen systems can add a lot of value, especially for high-value sales processes. This can be for enterprise software companies, corporate and private banking, but also for ticket sales for sports: I never realized NBA season’s tickets were that expensive!

To help you find the right Demand Generation tools, I’ve just updated my list of Demand Generation Systems. It gives an overview of all Demand Generation vendors that I know of. If I’ve missed some, please let me know and I’ll add them to the list.

The list is not meant as a thorough review: for that, you may want to buy the Raab Guide on Demand Generation Systems by David Raab. He recently published a list of low-cost demand generation systems, which may also be interesting.

If you’re looking for selection criteria, please take a look at Maria Pergolino’s blog: vendor comparisons part 1 and part 2 (part 3 is not published yet).

Last week Laura Ramos of Forrester also gave her view on the Lead Management Automation market, which is also a good read. She does not only mention Demand Generation vendors, but also other marketing automation solution providers.

The future of the Demand Generation market

If I look at the long list of players in this market, I’d almost wonder when the first one goes belly up. However, it seems as if the market is booming, and several vendors are reporting record results (for example Market2Lead, Pardot, Marketo, Marketbright).

Is it still possible for new Demand Generation vendors to enter the market in 2009?

Act-On Review: Demand Generation with Webinar Integration

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Webinars are a proven way to generate and nurture leads. To make webinars logistics easier, I’d love to see a proper integration between Demand Generation systems and Webinar systems such as Webex Event Center or GoToWebinar (see my comment on Ken Molay’s webinar blog). Today they are separate so you are copying information back and forth, or you have to do an expensive custom integration.

I’ve asked around, and today some people use the webinar system to send invitations and reminders and capture registrations, others do most of that within their demand generation system.

In the first case, you have an integrated process within the webinar system, including accurate reports on attendance. But your Demand Generation system is where you want to create a complete prospect profile, including email clicks and form submits. Also, you may want to export some campaign information (such as attendance) to Salesforce.com. This is often possible, but involves a lot of manual work.

In the second case, you capture the prospect information in the right place, but the Demand Generation system is not aware of the Webinar system. Therefore it takes more work than necessary to run your webinar campaign.

Act-On Demand Generation System

Today was the first time I saw an actual solution for this problem: Act-On is a relatively new player in the Demand Generation market. However, they come with good credentials: they’re funded by Cisco (owner of Webex), the CEO and engineering team come from Responsys (a leading marketing software vendor) and they have a seasoned executive team. Currently they have about 15 customers, from smaller companies to big names like BroadVision.

Their product is focused on small to medium size companies, so they’re not trying to compete with Eloqua or similar high-end products. Act-On Enterprise pricing starts at $500 per month (professional starts at $15 per month).

Act-On Enterprise includes most of the demand generation features that you’d expect, such as:

Email marketing
Drip email campaigns
Form and Landing page builder
Lead scoring
Reporting
Integration with Salesforce.com

But the unique feature is their integration with Webex. Read on…

Webex Webinar Integration

Act-On has a standard integration with Webex. Most of their customers use Webex Event Center. You can manage the entire webinar process from within Act-On. Only the actual delivery takes place in Webex:

Promotion: Act-On
Registration: Act-On
Delivery: Webex
Follow-up: Act-On

Normally these are silos that are disconnected, and now they are integrated, including end-to-end analytics. You can schedule the webinar from within Act-on (no need to login to Webex), and create a registration page, email invitation, repeat invitation, reminders and follow-up.

The Act-On home screen, lead source report, and attendance report

There are several cool features, such as the automatic inclusion of the webinar details in the email invitation. Also, you can generate dedicated registration page URLs to give to partners or to use in advertising, so you can see the source of the registrations.

Another useful feature is that it can update the Salesforce.com Campaign status: sent, received, registered, attended. This requires the ‘Marketing’ add-on in the Salesforce Professional Edition.

Conclusion

This is by no means a comprehensive review of Act-On, it is based on a short demo. However, I was impressed with the breadth of functionality, the ease of use, and the unique webinar integration. So take a look at it when you’re looking for a demand generation system and you do a lot of webinars. I’ve also added them to my list of Demand Generation software vendors.

My question to you:
Is webinar integration the next required feature for Demand Generation systems?