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Jul

1

2015

Rethinking Your Buyer Persona: Who is the Real Decision-Maker?

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It’s commonly known that buyer personas are essential to any successful inbound marketing strategy. But, in the B2B industry there have been some interesting (and even seismic) shifts in the last two years, causing the need for the buyer personas you created even just six months ago to be re-evaluated and possibly redone. If your B2B inbound marketing strategy has not been as effective as you like, this could be the reason why.

The fact that 89% of B2B researchers are searching online for solutions is not groundbreaking news. What is newsworthy is who these investigators really are in 2015.

The Real Buyer Persona Is The Online Researcher

A common misconception by many B2B marketers is that they should target the final decision makers, or C-suite executives.

When identifying buyer personas, it is crucial to look not just at the top of the funnel, to the financial decision maker who will be saying yes to or approving the contract; but to the layers of influencers along the lead funnel, all of those involved in the buying or decision making process from the very beginning of the research and prospecting phase. Many companies make the mistake of identifying their buyers as only those at the top of the food chain. But is the CEO or CFO the actual person searching Google for solutions? The CEO may identify the challenge, but the research phase is most often someone else’s responsibility.

The reality is that a many of the oldest Millennials (those born from the early 1980s to early 2000s) are in their early 30s, and are now moving up in their careers, playing a bigger part in purchasing decisions. And, of course, while there are some very well-known C-Level Millennials at some of the biggest tech companies, the majority of top B2B executives are Gen X’ers and Boomers.

Just as the entire marketing industry has dramatically shifted in the last few years, so have those sitting in the decision making seat, and even more important to inbound marketers, the researcher’s seat.

The Millennial B2B Buyer

A study, The Changing Face of B2B Marketing, published in March 2015 by Google and Millward Brown Digital, revealed some interesting insights to which every B2B marketer must pay attention.

New Reality: Almost Half of all B2B Researchers are Millennials

Google noted that even just a few years ago, in 2012, the age demographics of B2B buyers were fairly evenly spread across generations. In 2014, that shifted by 70% with almost half of all B2B researchers falling into the 18-34-year-old category.

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It’s no surprise that this age group automatically turns to digital channels for any information they might need, personally or professionally. Most Millennials hardly remember a world without the internet and technology as we know it, the majority having used email, search engines and cell phones for most of their lives (and certainly all of their professional careers). It’s how they are naturally inclined to think and act.

New Reality: Non C-Suite Researchers Influence B2B Purchase Decisions

Historically, B2B strategies have focused primarily on C-level executives, which is not as impactful today when connecting with B2B influencers and researchers. The Google study revealed, that while 64% of the C-suite have final say, so do 24% of non-C-level B2B professionals, and 81% of the non-C-suite has a say in purchase decisions.

So, if your B2B company is focused on marketing only to the CEOs and CFOs of the world, you’re likely missing a huge opportunity to be found by the most influential researchers who are seeking you out.

In her book Buyer Personas, Adele Revella, Founder of the Buyer Persona Institute, also discusses this very important topic. She reminds us that the top level executives are not likely involved in the details of how solutions were first discovered, evaluated and decided upon, and therefore are not the primary targets for buyer persona interviews in the development phase. Revella says:

The more senior the buyer, the less likely that person will be to be able to provide important details about how the final outcome came to pass. Add this to the difficulty of scheduling any extended time with the senor C-Suite level executives, and you can see why we don’t often recommend that you interview the economic buyer.”

What Does It All Mean?

Businesses must have a deep understanding of their audience to create the right content for them, at the right time. B2B researchers and influencers are now proven to be much younger than previously thought, so you have to make sure you are giving them the content they want, where and when they need it.

Still stuck in the process of creating the right buyer personas? Download SPROUT Content’s free guide to developing and using buyer personas to help fill your lead funnel with full, clear and helpful content that’s for the right people. 

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Apr

16

2015

Why Your Marketing Content is an Asset, Not a Cost

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Basic accounting rules require marketing costs to be listed as expenses on a company’s P&L. However, today’s marketers and smart executives consider marketing an investment in driving revenue rather than a cost. This is where an overall mind shift is needed. Marketing needs to be considered an investment, and your content an asset.

We invest in technology, equipment and people to grow our businesses without hesitation. So, why wouldn’t we do the same with our content? It’s time to finally categorize content as an asset and treat it like you would any other company asset. After all, your brand, unlike a building or inventory, never depreciates. Your brand is your greatest asset, and your content tells the story of your brand.

Marketing vs. Sales: Working Together but Often Against

When your company lands a sale, who takes credit? Likely the salesperson. That person may even claim marketing does nothing to drive leads. But what tools are being used by that salesperson to close the deal? He used the company’s website content, blog posts, ebooks, social media channels, videos, email newsletters, events, collateral material and lead generation campaigns, all of which is produced by the marketing team.

Without those content marketing assets, the lead would probably not have been converted to a sale. But while all of the credit goes to the sales team, the full responsibility of those content marketing assets lies in the marketing budget line item.

Treating Marketing as a Cost… Could be Costly

If you consider marketing as an expense in your budget that needs to be kept under control, you are likely treating it just as any other cost, and striving to keep it down. Being concerned about cost reduction adds pressure to your marketing efforts to perform quickly, which is certainly not a quality of an inbound marketing strategy.

Worrying about costs would also mean you would be less likely to test and optimize your marketing efforts, which could directly relate to stagnant online results, and ultimately a decline in revenue.

Proving Return on Investment

The Return on Investment or “ROI” of marketing has been buzzed about and debated for decades. Since the heyday of Madison Avenue in the 1950s, even up to the early 2000s, there were few tools that marketers used to measure their impact on the company’s bottom line. Magazines used “pass-along rates” to inflate impressions.

Direct mail introduced coupons and tracking codes as a way to measure effectiveness. But the lack of precise measurement actually helped promote the perception that marketing was a cost center. The hope was that all of that money being invested in marketing would eventually result in positive brand awareness.

Luckily, things have changed.

Explosion of Data

Instead of trying to prove success from inflated numbers, marketers can now track everything on the digital landscape. No longer lacking for metrics, we are dealing with a constant explosion of data. But now that every click a user makes on your website is trackable, what is being done with that information?

Today’s marketers have access to more data than ever before, but may fall short in understanding that data, or become overwhelmed and fall victim to “Analysis Paralysis.” Even worse, many businesses still don’t track or measure effectively.

In order to be able to gauge the success of your content marketing efforts, you should have tools in place to track:

  • Visitors from every source
  • Activity on each page and blog post
  • Keyword rankings
  • Submissions from all forms
  • Ratio of leads to sales
  • Sales

Using a program like HubSpot’s inbound marketing platform offers access to integrated metrics across the board from contacts to content and analytics, housing all of your marketing data in one central place.

Content as a Business Asset 

Having the metrics to show results is essential to prove your content is a business asset. Your content is a tangible, living thing that is the voice of your business. It’s the best thinking of the entire organization. Companies who believe this foster an environment where all departments work together, instead of against each other, to ensure a consistent and cohesive message is being communicated with the world.

In order to look at content as an investment line item, it has to tie into your business goals. That means you need to think long and hard about why you are creating content in the first place. If you don’t have a clearly mapped out strategy for your content, you are just throwing it out there in hopes that the right people find it. You wouldn’t treat your other financial investments like this, so don’t do it with your content.

For more on proving the value of your content investment, download SPROUT Content’s free ebook: What Gets Measured, Gets Improved.

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