Webinar Predictions 2014: B2B CMOs Must Conquer Three Key Initiatives To Prosper Sheryl Pattek, Vice President, Principal Analyst January 27, 2014. Call in at 10:55 a.m. Eastern time @sherylpattek

Image source: Shutterstock (http://www.shutterstock.com/)

Agenda The world is changing. Get customer-obsessed. Conquer three key imperatives to prosper in 2014. Recommendations

Agenda The world is changing. Get customer-obsessed. Conquer three key imperatives to prosper in 2014. Recommendations

Empowered buyers have taken control “60% of the B2B buying process is complete prior to sales engagement.” Source: February 21, 2013, “Rethink Marketing In The Buyer’s Context” Forrester report

The world of today’s customer engagement channels Source: July 22, 2013, “Mix Art And Science For Marketing Success” Forrester report

Agenda The world is changing. Get customer-obsessed. Conquer three key imperatives to prosper in 2014. Recommendations

Age of the customer A 20-year business cycle in which the most successful enterprises will reinvent themselves to systematically understand and serve increasingly powerful customers

The age of the customer drives four market imperatives Marketers must become customer-obsessed. Transform the customer experience. Embrace the mobile mind shift. Age of the customer Build value around the customer, not the channel or product. Turn big data into business insights. Become a digital disruptor. Source: November 18, 2013, “The Forrester Wave™: Business Intelligence Service Providers In Asia Pacific, Q4 2013” Forrester report

Agenda The world is changing. Get customer-obsessed. Conquer three key imperatives to prosper in 2014. Recommendations

Imperative No. 1: Intertwine data as the foundation of 2014 strategies and plans. Image source: Nikonians (http://www.nikonians.org/)

Invest in tying data to 2014 planning 5x faster decisions 3x execute decisions 2x financial performance Use data to guide product and messaging plans.

SAP best practice: using data to guide product development Source: SAP (https://ideas.sap.com/)

Explosion of data sources Image source: alertdigitalmarketing.com (http://www.alertdigitalmarketing.com/); PRWeb (http://www.prweb.com/); and idealo.co.uk (http://www.idealo.co.uk/)

A single view of the customer is not yet commonplace Base: 214 global marketing leaders; Source: Q3 2013 Forrester/Heidrick & Struggles Evolved CMO Global Online Survey

Yet, marketers are required to actively connect the dots Corporate communications Product design Discussion forums Packaging Website Social engagement Search Print ads Retail In-store service Ratings and reviews Customer service Online display ads Discover Explore Engage Buy

Start with what you know Mine marketing automation data for predictive intent. Collaborate with your CIO to figure out how questions will get answered. Incorporate corporate data sources. Installed product mix, revenue transactions, service calls, and call center conversations

CMOs recognize that working with the CIO is important Base: 214 global marketing leaders; Source: Q3 2013 Forrester/Heidrick & Struggles Evolved CMO Global Online *Base: 191 global marketing leaders; *Source: Q3 2011 Forrester/Heidrick & Struggles Evolved CMO Global Online Survey

Mirror best practice approaches 30% increase in lead conversion

Dell best practice: defining the questions to answer upfront Unique, personalized, and individualized communication Image source: AidData (http://aiddata.org/)

What it means Shift attention from data volume to variety from product suppliers, complementary businesses, government agencies, and customers. Pilot participation in low-risk data sharing or data exchanges. Explore best practices from early adaptive intelligence adopters. Plan now to gain ROI from adaptive intelligence in 2016.

Why adaptive intelligence? Business intelligence today is immature Multiway Interrogative Interactive 2-way Agile Static Predefined Owned Reactive 1-way Brokered Image source: Amazon.com (http://www.amazon.com/); TomTom International (http://www.tomtom.com/en_us/); Waze Mobile (https://www.waze.com/); and MapQuest (http://www.mapquest.com/)

Forrester’s definition of adaptive intelligence: “Real-time, multidirectional sharing of data in order to derive contextually appropriate, authoritative knowledge that helps maximize business value”

Lowe’s best practice: using adaptive intelligence to increase partner sales Source: May 8, 2013, “Introducing Adaptive Intelligence” Forrester report

Market to and communicate with buyers as individuals. Imperative No. 2: Redefine B2B as “business-to-buyer.” Market to and communicate with buyers as individuals. Target

Mold content and brand strategies into one 70% 45% Advertising cost Brand awareness 78% believe that content will drive the future.

Content must tell a distinctive brand story Create a 2-way dialogue to drive trust, relevance, and engagement. © 2012 Forrester Research, Inc. Reproduction Prohibited

Align content across all buyer journey stages. Distribute consistently across channels. Source: June 5, 2013, “Customer Life-Cycle Marketing Demands New Metrics” Forrester report

Cisco Systems best practice Source: Cisco (http://socialmedia.cisco.com/)

What it means 40,000 internal creators Put content engines to work in the new content-led model.

Imperative No 3: Organize around the customer, not the product or channel. Image source: Cutcaster Web Design and Photography Highlights (http://blog.cutcaster.com/); Instem BioBlog (http://bioblog.instem.com/); and Trinidad and Tobago Bureau of Standards (http://www.ttbs.org.tt/)

Build a customer-obsessed organization Quick actionable decision Analytics-based insights Customer Image source: The Rhode Island Developmental Disabilities Council (http://www.riddc.org/) Experiment with new ideas. Succeed or fail fast.

Organization best practice: Mindjet Organization networks over hierarchies Creativity over uniformity Customer need over traditional siloed agendas

Hire for technical aptitude Look beyond domain expertise. Seek candidates who possess: Critical thinking skills. Affinity for building knowledge through analytics. Technology skills that drive customer engagement.

What it means Watch for vendors to ramp up direct client education efforts. New partnerships with universities and professional organizations will form to build a robust CMO curriculum. By 2015, the CMO’s stature and influence in the organization will grow as CEOs lean on them for customer insights to form a customer-obsessed organization.

Agenda The world is changing. Get customer-obsessed. Conquer three key imperatives to prosper in 2014. Recommendations

Recommendation Make data the foundation of your 2014 marketing strategy. Collect, analyze, and turn data into insights starting with what you know on building contextually relevant experiences that buyers now expect. Focus brand efforts on the buyer, not the business. Organize to deliver buyers’ needs, not channel-led requests. Task your sales, marketing, and delivery teams to work as one on behalf of customers.

Forrester’s Forum For Sales Enablement Professionals Drive Growth With A 21st-Century Selling System March 3 to 4, 2014, Fairmont Scottsdale Princess, Scottsdale, AZ The future of sales and marketing is now. Siloed, product-focused sales and marketing approaches must be realigned. We can help you modernize your selling system using your customers to determine what is valuable. Join us to learn how to: Give executives visibility into selling investments. Achieve cross-department alignment that results in revenue growth. Free up your sellers’ time to sell more effectively. http://forr.com/se14us

Questions? Image source: Duke University (http://sites.duke.edu/)

Sheryl Pattek +1 212.857.0707 spattek@forrester.com Twitter: @sherylpattek