Last week I came across an interesting study from the IBM Institute for Business Value in conjunction with the MIT Sloan Management Review entitled Analytics: The New Path To Value. Based on a survey of nearly 3000 executive managers and analysts, there are some great insights in the report.
Top performing organisations use analytics five times more than lower performers. While the adoption seems to be most widespread in finance functions, in the marketing functions of top performing organisations the usage seems to be around three times higher than in lower performing peers. Perhaps as a consequence of this over half of those surveyed indicated that enhancements in analytics capabilities was a top priority for their organisations.
The greatest inhibitors that prevent people from adopting analytics more widely are not actually the availability of technology, nor even the integrity or accessibility of data. The barriers are actually much more to do with management and culture than data and technology. “The leading obstacle to widespread analytics adoption is lack of understanding of how to use analytics to improve the business, according to almost four of ten respondents.”
I’m sure this is true. Deploying new systems to make your marketing processes more efficient is one thing; but that alone does not equate to transformation. The real change happens when we start asking ourselves questions about the effectiveness of our activities, look for insights in our data, apply those insights to other activities and measure the impact. That has only a little to do with our tools, and much much more to do with our own curiosity.
It’s taken me a couple of weeks, but I’ve finally posted my presentation from the B2B Marketing Magazine seminar on Demand Generation/Lead Nurturing onto Slideshare. I hope you find it useful. It contains 10 areas to focus on to improve the yield on your marketing campaigns.
You can also find the deck from Will Schnabel at Silverpop here
Think about the responses from your latest campaign. What’s your mental picture of those responses? Are they digits on a spreadsheet – depersonalised, abstract, numerical. Or do you picture real people with a todo list as long as yours, struggling to find a way through some tricky issues. Imagine what might happen if you asked him “how might I help?” rather than “why haven’t you bought something yet?”.
So the next time you’re looking at the reports from your campaign, stop for a moment. Do you want to help him, or simply want to count him?
My only excuse is that I’ve been busy – pathetic, I know, but there you go. I’m deploying a marketing automation system at the moment and that’s keeping me busy. And when I have a few spare moments I have to confess I prefer to choose to spend them with my family rather than with my laptop. But I’ve recommitted myself to spending more time posting content.
Today I spoke at an event chaired by Joel Harrison and B2B Marketing Magazine. I’ll link to the content in the next couple of days when Joel publishes it. I was covering 10 ways to improve your marketing campaigns. Item 10 was about keeping yourself fresh with new insight. RSS feeds are great but better still is clever people you respect doing the filtering for you. Hence my gratitude to Steve Woods. Steve is CTO at Eloqua – I had the good fortune to meet him at an event in London earlier in the year. His blog on “Digital Body Language” is always thought provoking and I’ve learned a great deal from him. Best of all, he’s started providing a digest of good content that he’s come across from various luminaries in this space. His latest Marketing Automation Weekly Wrap-Up contains links to new content from Laura Ramos at Forrester, Sirius Decisions and Brian Carroll – three individuals/organisations from whom I’ve learned a great deal. So thank you Steve – I’ll continue to use your blog as a useful filter on what’s new.
- Avoid the One-Off Send Syndrome
- Avoid Me, Me, Me Marketing!
- Not being relevant to your audience
- Not cariing about your audience
- Not finding multiple uses for your content
- Missing the opportunity to create content specific to buyer personas
Some nice examples in here, but it all points to the same issue – nurturing a relationship with a potential client does NOT equate to sending them a brochure, or asking regularly if they’re ready to buy yet. Simple.
What additional ones would make your list of must-read blogs – particularly in the B2B space?
My last post referred to the Demand Generation Summit at the beginning of this month. As I was saying in my presentation on the day, it’s essential to plan for how you will build upon an activity to maximise the return.
In my opinion, the Demand Generation Summit itself provides a super case study example of post-event activities that many of us could leverage in our own campaigns. We all know that marketing events are expensive – venues, lunches, visiting speakers etc. There are 2 questions that frequently come up in event planning:
- How can we ensure that the event is the beginning of a conversation and not the end of it?
- How do we engage with people who weren’t able to make the event, or that we don’t engage with until after the event has happened?
Against Question 1, the organising team have created a Linked-In group. Great move – people who attended can join, people who are referred by colleagues can join, people who stumble across it on Linked-In can join. YOU could join – as the time of writing this there are 73 members. Next step is to really get a dialog going within that group – that is more difficult of course because it requires people to participate rather than just observe.
To answer the second question, BrightTALK was one of the sponsors and the presentations were professionally captured and edited on video and are now available from a separate Demand Generation Summit webinar site, along with the slides. Congratulations to all those involved – I think they’ve done a great production job. Check it out!