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Kathleen Kirk Todd Simmons

Kathleen Kirk Todd Simmons. Agenda. Background Current Practices Issues to Address Recommendations Data Gathering Data Usage Messaging Other Technology Summary. Background. Introductions. Kathleen Kirk Todd Simmons St . Edward’s University MBA in Digital Media Management

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Kathleen Kirk Todd Simmons

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  1. Kathleen KirkTodd Simmons

  2. Agenda • Background • Current Practices • Issues to Address • Recommendations • Data Gathering • Data Usage • Messaging • Other Technology • Summary

  3. Background

  4. Introductions • Kathleen Kirk • Todd Simmons • St. Edward’s University MBA in Digital Media Management • Capstone project

  5. Our Assignment • Create a marketing plan to up-sell existing clients • Now offering a suite of products • Currently relies on CSD’s and Sales to upsell clients • Expect 40% of revenues in the next year to come from upsells • Upsells close 28% faster than new product sales and are only 7% less valuable

  6. Our Process • Research • Bazaarvoice products and services • Current BV marketing efforts • B2B marketing best practices • Meetings with Deborah de Freitas (Director of Marketing)

  7. Our Process • Interviewed BV employees • Harrison Yeager (Marketing Operations Mgr) • Chris Smith (Sales Director, Retail) • Rachel Hocevar (Client Success Director) • Shawn Gaide (Director of Market Planning) • Susan Stogner (Client Success Director) • Tina Dobie (Client Success Director)

  8. Current Practices

  9. Bazaarvoice Content • Bazaarvoice creates a huge amount of content with the goal of reaching CMO’s • White papers • Case studies • Webinars • Blogs • Also producing many events: • Social Summit • Roadshows

  10. Tools • Salesforce/Eloqua • CRM • Data gathering/tracking • Campaign management • Lead management • Spark • Client portal • Mostly support

  11. Current Process for Upsell • CSD owns client relationship • Acts as a consultant • Hard due to CSD/client ratio • Tiered system • Consultant model doesn’t scale

  12. RAD Model • Using the RAD model to inform upsell strategy

  13. Issues to Address

  14. Key Questions • How to… • get Summit content to those not attending? • keep client excitement up after the Summit? • share knowledge of the CSD to marketing and sales teams? • retain the existing customers and their revenue? • ensure that an upsell message is communicated at the right time in a client’s decision-making cycle? • reach the right people within the client’s org charg? • go up the chain to the CMO or move laterally to reach other groups at the company?

  15. Areas to Cover • Outline a discrete set of marketing activities that improve performance • Can give recommendations that cover multiple departments • Concrete recommendations for how to make progress on the goal of upsell

  16. Deliverable • Marketing Plan • Prefer a long-term system rather than a short-term campaign • Disregard structure of a traditional marketing plan • Focus on marketing strategies • Tailor messages by vertical

  17. Items to Omit • Not expected to: • Develop a budget • Calculate ROI • Also not expected to cover: • implementation details • resource allocation • timeline

  18. Recommendations:Data Gathering

  19. Data Gathering / Goals • Data was a consistent theme we encountered • Need processes in place to compile data on: • current clients • effectiveness of upsellstrategies • benefits of BV products

  20. Data Gathering / What to Gather • Client data • vertical, sub-vertical, geography, company revenue, growth, daily interactions, org chart, etc. • Upsell data • response rates for different campaigns, touchpoints, communications, etc. • BV product benefits data • increased sales, SEO impact, ROI, customer loyalty, etc.

  21. Data Gathering / Tools • Streamline databases or selectively display fields • Leads to increased adoption of tools • Integrate tools like Salesforce, NetSuite, etc. • Allows for data sharing between departments

  22. Data Gathering / Internal Processes • Decide who owns each field in the database • CSD: day to day client interaction • Marketing: tracking and market intelligence • Sales: sales data, especially upsell • Incentives and processes • Progress bar • Quarterly data spring cleaning day • Bonuses • Conduct training to ensure buy-in

  23. Data Gathering / External Sources • Use market intelligence tools (Reachforce) to acquire additional data on clients • Expand Spark to become main client portal, then track client interactions within site • Allow clients to keep their own data healthy by updating it in Spark

  24. Data Gathering / Who is Responsible? • Effort should be driven by Marketing Research & Marketing Operations • Will also need to work with IT and HR for infrastructure and training • Work with Sales & CS to determine how the data could best be captured

  25. Recommendations:Data Usage

  26. Data Usage / Overview • Additional data allows for: • Better analysis of trends • More precise targeting • Smoother collaboration • Unique software solutions

  27. Data Usage / Company Targeting • Use gathered data to achieve more precise company targeting • Determine which clients are most likely to upsell, then target them • Possible division of RAD matrix into additional sub-categories (vertical, sub-vertical, geography, company revenue, growth, etc.)

  28. Data Usage / People Targeting • Reaching CMO is difficult – find other key players under the CMO • How?  -- goes back to gathered data • Then target these individuals with marketing emails, calls, etc.

  29. Data Usage / Message Targeting • Every message directed at the client should emphasize vertical, size, point in lifecycle, etc. • Increase dynamic content in electronic communications • Make Bazaarvoice website more vertical specific

  30. Data Usage / Collaboration • More data allows for a smoother hand-off • Better define where the hand-off occurs between CSD’s and Sales on upsell

  31. Data Usage / Upsell Notifications • Create software to analyze data, using trend/pattern/sentiment analysis to detect upsell opportunities • Salesforce extension that notifies CSD’s when an upsell opportunity is detected based on: • trend/pattern/sentiment analysis • upsell best practices • prior CSD notes • leads from marketing

  32. Data Usage / Upsell Notifications • Example 1: • Client tells CSD about website update in 1 year • CSD makes note of this • Example 2: • Software detects increase in customers asking questions in a client’s R&R field • Example 3: • Software detects that clients in a particular vertical / size range typically upgrade at a particular time

  33. Data Usage / Upsell Notifications • CSD must balance notifications with first-hand knowledge of client situation • If notification is inaccurate, then enter more data to correct • added benefit of update reminder

  34. Recommendations:Messaging / Positioning

  35. Messaging / Consistency • Marketing, Sales and CSD’s must all communicate a consistent message to clients to support upsell • Each department must “tell the same story”

  36. Messaging / Key Messages • Value • Aggressively sell clients on the value they are receiving from BV products • Volume • Sell clients on the importance of best practices in implementation of BV products

  37. Messaging / Key Messages • Current vs. new approach: • Content should be more dynamic/targeted for each specific client • Benefits of this approach: • Increases client satisfaction • Lays the foundation for upsell • Help retain existing clients

  38. Positioning / Product Positioning • Currently, each product is billed as a singular solution • Instead, emphasize: • Suite of products, built to work together smoothly • Complementary/multiplying effect • Key value prop: only provider that covers full range of social needs • Also emphasize: • Progress over time • Social media market is not static • BV product offerings will grow/evolve over time • Clients should see their use of BV tools as a journey

  39. Positioning / Campaign • New site launch = perfect time to revamp message • Suite • Rebrand • Tagline option • Better position in the SaaS marketplace • Emphasize connecting you to your customers • Evocative and defines what you do

  40. Positioning / Campaign • Tagline ideas: • “Boost your brand's conversation.” • “Helping brands conquer the social sphere. “ • “Bringing the conversation to you.” • “Turning conversations into revenues.”

  41. Recommendations:Other Technology

  42. Other Technology / Spark • Position as a one-stop-shop for clients • Should include • Customer support • Marketing • White papers, case studies, webinars, videos • Social capabilities • Best practices

  43. Other Technology / Spark • Provide a dynamic, customized experience for each user • Example 1: • When a particular client’s employee logs on, the most prominently displayed marketing content is related to that client’s vertical, size, etc. • Example 2: • Best practices are related to a client’s needs (recent A&A adoption results in related content)

  44. Other Technology / Spark • Client profiles • Incentives for data entry: • Improved service • Progress bar • Discounts on subscription fees • Summit invitations

  45. Other Technology / Sample Content • Create software to gather and filter sample content: • Scan a client’s R&R content for questions • Scan discussions on Twitter, Facebook, and blogs • Once content is found: • Show content in emails, Spark, etc. • Show what a client would gain from BV product • CSD’s / Sales should have final moderator control

  46. Summary

  47. Challenges • Limited time (6 weeks) • Limited access to data • Complex issue

  48. Top Recommendations • Data • Effective gathering leads to many benefits • Messaging • Consistent, focused on upsell • Spark • Make it a one-stop shop for clients

  49. Thank You+Questions

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