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Driving Demand: Transforming B2B Marketing to Meet the Needs of the Modern Buyer PDF

200 Pages·2015·1.41 MB·English
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Driving Demand This page intentionally left blank Driving Demand Transforming B2B Marketing to Meet the Needs of the Modern Buyer Carlos Hidalgo Palgrave macmillan DRIVING DEMAND Copyright © Carlos Hidalgo, 2015. Softcover reprint of the hardcover 1st edition 2015 978-1-137-52678-6 All rights reserved. First published in 2015 by PALGRAVE MACMILLAN® in the United States— a division of St. Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Where this book is distributed in the UK, Europe and the rest of the world, this is by Palgrave Macmillan, a division of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-349-55906-0 ISBN 978-1-137-52680-9 (eBook) DOI 10.1057/9781137526809 Library of Congress Cataloging-in-Publication Data Hidalgo, Carlos (Economist) Driving demand : transforming B2B marketing to meet the needs of the modern buyer / Carlos Hidalgo. pages cm Includes index. 1. Industrial marketing. 2. Marketing—Technological innovations. 3. Organizational change. I. Title. HF5415.1263.H53 2015 658.8904—dc23 2015015620 A catalogue record of the book is available from the British Library. Design by Newgen Knowledge Works (P) Ltd., Chennai, India. First edition: October 2015 10 9 8 7 6 5 4 3 2 1 Contents List of Figures vii Foreword ix Acknowledgments xi Introduction xiii Chapter 1 The Issues with Modern Demand Generation 1 Chapter 2 Leading Demand Process Transformation 17 Chapter 3 Why Transformation Fails 33 Chapter 4 Action Does Not Equal Change 47 Chapter 5 Changing the Marketing and Sales Mind-set 61 Chapter 6 Aligning Content to Your Buyer 75 Chapter 7 Adapting the Lead Management Process 91 Chapter 8 Measuring for Success 105 Chapter 9 Optimizing Data and Technology 121 Chapter 10 Creating an Outcome: Accountable Culture 133 Chapter 11 Managing People through Change 147 Chapter 12 The Need for Change 161 vi ● Contents Chapter 13 Change Ahead 171 Chapter 14 Demand Process Glossary 183 Notes 191 Bibliography 197 Index 201 Figures 1.1 Mid-Funnel Gap Caused by a Campaign-Driven Approach 5 2.1 Engage, Nurture, Convert Approach to Demand Generation 2 1 2.2 ANNUITAS Demand Process Architecture 22 4.1 ANNUITAS Demand Process Framework 52 6.1 Buying Path Analysis 81 6.2 ANNUITAS Content Architecture Model 85 13.1 ANNUITAS Demand Process Maturity Model 175 This page intentionally left blank Foreword “Culture eats strategy for breakfast.” Peter Drucker is often given credit for this insight, which could not be truer when it comes to marketing and B2B organizations. Today, we are seeing vast disruption in a number of business categories, from technology to manufacturing to human resources, but the biggest transformation of all is happening in marketing. And the pain is visible. One could argue that the 4 “P’s” of place, price, product, and promo- tion, made popular during the days of Don Draper, are officially dead. Why? Well, there are many reasons, but the biggest is that B2B marketers have no control over the buying process. Before 1990, there were only eight channels available where a B2B con- sumer could gather information from a company: an event, a fax, direct mail, telephone, television, radio, billboards, print magazines, and news- letters. Vendors controlled the flow of information, which meant we could predict and staff our teams appropriately to move buyers from awareness to conversion to loyalty. I n 2015, there are literally hundreds of channels where consumers can access content. We’ve lost control. Some B2B companies have adapted— but most have not. According to various studies, whether from Forrester or Gartner, any- where from 60 to 80 percent of the buying process is over before a buyer ever contacts a sales representative. While almost all companies believe this to be true, the basic setup of our sales and marketing organization has

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