Marketers Strategic Priorities [report]

marketing strategiesProving the value of marketing activities with financial outcomes is the most important of 7 strategic priorities ranked by client-side marketers, details a new report from Tealium and Econsultancy. That result isunsurprising in light of recent survey results suggesting that only 1 in 4 marketers can prove their impact on the business. Interestingly, conversion rate optimization sits at the bottom of the list of priorities, despite being deemed “crucial” by a majority of marketers in earlier research.

marketers strategic priorities

That doesn’t necessarily mean that conversion rate optimization isn’t important, but rather that it’s not quite as high a priority as some other strategic initiatives. Indeed, the second-highest priority is also one that marketers are struggling with: achieving a single view of customer and marketing data. Only 14% of respondents said they had a strong capability in this area; while a plurality 39% rated their capability as average, almost half rated it as weak (34%) or non-existent (13%).

The problem appears to relate to an inability to turn data into useful information and action. On a 10-point scale (where 1 means “doesn’t apply to us at all” and 10 means “very much applies to us”), respondents averaged just a 4.6 rating in their ability to extract useful insights from data, with the most common complaint being that data is fragmented. That makes sense, given that the average respondent has more than 4 marketing application data sources, with roughly 1 in 5 dealing with at least 8.

The survey results come on the heels of another study that found half of digital media and marketing professionals claiming an inability to link data to create individual customer profiles.

Many marketers see the importance of achieving a single view of the customer as 47% agreed that their long-term success is dependent on it.

The study points to data unification initiatives as a potential solution. Those respondents with such an initiative (BI, cloud, common visitor file, etc.) were far more likely than those without to report an ability to associate marketing activities with financial results, turn data into useful information and action, and make the most of the tools they have.

Finally, the most important capability for tying together digital marketing applications and data is seeing how marketing channels work together to affect sales, per the study.

About the Data: The results are based on a Q2 survey of 313 client-side marketers, 31% of whom identify as B2C, 37% as B2B, and the remainder as an even mix. 40% come from companies with more than $1 billion in revenues, while 23% come from companies with $11-50 million in revenues.

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Social Media Terms

Social Media TermsToday, a growing number of B2B customers are interacting with companies through social networking channels, from Twitter to blogs to LinkedIn. B2B social media marketing is quickly gaining ground as a result.

Organizations that integrate B2B social media into their marketing mix can monitor what prospects are saying about their company and capture interest from those in search of products and solutions.

Get to know the following definitions and start incorporating B2B social media into your own marketing plan:

B2B Social Media refers to the various channels of the social web (blogs, social networks, wikis, etc.) as they pertain to business-to-business interactions. B2B social media also refers to how prospects, customers and businesses use the social web to research, listen, communicate and engage with each other through the exchange of content.

Blog – An online journal, with new entries appearing in sequence as they are written

Groundswell – A social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations

Hashtag – A community-driven convention for adding additional context and metadata to tweets

Inbound Marketing – A type of marketing characterized by prospects and customers finding companies rather than vice versa

Influencer – A person who is highly recognized in an online community and has the ability to sway others’ thoughts or opinions

Lead Scoring – The process of determining the sales readiness of leads using a pre-determined scoring methodology and ranking them accordingly

LinkedIn – A business-oriented social networking site

Meme – A catchphrase or concept that spreads quickly from person to person via the Internet

Microblogging – A type of blogging that allows users to send brief text updates or micromedia, such as photos or audio clips, and publish them. The most popular microblogging platform is Twitter

RSS – (Really Simple Syndication) A web standard for the delivery of content — blog entries, news stories, headlines, images, video — enabling readers to stay current with publications without having to browse to their content.

Sentiment – A level of assessment that determines the tone of an article, blog post, a company, etc.; usually positive, negative or neutral

Short URL – An alias short URL used for redirection of long URLs

Social Media – Any strategy, software system or media outlet that relies on social interaction and the participation of individuals or communities to create and publish content

Social Media Monitoring – The use of search engine technology to ‘listen’ for specific keywords as defined by your organization

Social News – Websites where users submit and vote on news stories or other links, thus determining which links are presented

Social Proof – The determination of what is right by finding out what other people think is right

Social Selling – Also referred to as Sales 2.0, the merging of Web 2.0 technologies with traditional sales strategies, enabling salespeople to better prioritize their time and serve as experts—not just negotiators— in the product selection process

Twitter — A social networking and microblogging service in which users send and read other users’ updates known as tweets that are 140 characters or less

Twebinar – A mashup between a live podcast/audio broadcast and Twitter as the backchannel for discussion

Web 2.0 – A term used to describe the second generation of web tools and software that encourage users to become more active participants, creating content and interacting with each other within web-based, social communities

Widget – A mini application that performs a specific function and connects to the Internet

YouTube – A video sharing website on which users can upload and share videos-Marketo

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Blogging Terms

BloggingA B2B blog can be an effective tool to build corporate credibility, interact with customers and prospects, reach media and drive additional traffic to your corporate website.

Incorporating a blog into your marketing mix involves significant planning and strategy. Look to Modern B2B Marketing Blog for some inspiration to help you get started on your own.

Plus, leverage our B2B blog glossary to gain a strong working knowledge of B2B blogging:

Blog – A contraction for “weblog,”; an online diary or journal

B2B Blogging – Also known as corporate or organizational blogging; involves the use of a blog or online journal to promote a company’s products or services with the goal of increasing conversions and driving revenue

Inbound Marketing – A type of marketing characterized by prospects and customers seeking out and finding companies rather than vice versa

Lead Scoring – The process of determining the sales readiness of leads using a pre-determined scoring methodology and ranking them accordingly

Marketing Asset – A piece of marketing content (e.g. whitepapers, videos, newsletters, webinars, etc.) used to educate and generate interest for a company’s products or services

Search Engine Optimization (SEO) – The process of employing different tactics to improve a business’s ranking in organic or unpaid search results to ultimately increase conversions

Search Engine Marketing (SEM) – Also known as Pay-Per-Click (PPC) advertising; the process of paying a search engine to advertise a product or service

Social Media – Any strategy, software system or media outlet that relies on social interaction and the participation of individuals or communities to create and publish content

Social Selling – Also referred to as Sales 2.0, the merging of Web 2.0 technologies with traditional sales strategies, enabling salespeople to better prioritize their time and serve as experts—not just negotiators— in the product selection process

Web 2.0 – A term used to describe the second generation of web tools and software that encourage users to become more active participants, creating content and interacting with each other within web-based, social communities-Marketo

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Call Lori 877-447-0134, x111.