Facebook is the model of customer acquisition, Alex Yoder, CEO of Webtrends said in his Webtrends Engage Conference keynote. Forty three percent of B2B businesses use it everyday. Social media is helping marketers find customers, but more importantly, close deals.
Social Customers and Engagement
We struggle with the same things every digital marketer does, Yoder said. Everybody is now a technology company even if they aren't driving most of their revenue from there. That's because of the popularity of mobile apps and social media, but the number of people in that space will only accelerate over the next two years, he said. Lots of company's won't be ready for it.
When all of your customers are flat bits and bytes, it becomes critical to properly identify which ones are customers and which ones are just flying by. With the launch of Webtrends Streams, and now the newest update with content targeting and Responsys marketing integration, Webtrends hopes to lead the industry in helping companies imagine what's possible in the tidal wave digital information.
We're moving from radio to television again, Yoder said. The Responsys interaction allows real-time engagement, and it is the new definition of as-it-happens customer response, he said. Avaya, a voice and video Web app maker, has been a Webtrends customer for the last three months, and it has increased its social interactions by 10 percent, CMO Mark Wilson said at the conference.
Avaya has more than doubled its digital marketing spend over the last four years, Wilson said. It's now almost 30% of the total marketing spend. It's never been a better time to be a marketer, he said. A big part of that is the growth of mobile. As a CMO, Wilson looks at what buyers want and how they address those needs.
"All of my engagement is tied to this philosophy," he said.
It's starting to break down, however. Now, 70 percent of a buyer's journey is complete before it even gets to a salesperson. Secondly, 70-90 percent of leads generated by marketers are not even followed up by sales teams. And most importantly, nearly half of customers are not satisfied with the service, and the conversion rate is just 1 percent compared to how many prospects need to be generated to close one sale.
We need to better operationalize our data, Wilson said. We need real-time intelligence.
Your sales funnel is broken.
CMO's have to strengthen their marketing claims, grow their sales pipelines and improve their win rates, Wilson said, and digital marketing will be a big part of that in 2013. Success will be defined by engagement, sentiment and revenue. Avaya uses Webtrends to help with this, but it also uses a host of other products as well.
Avaya is one of the early adopters of the Streams technology, but other companies like Motorcycle Superstore have also been involved in the launch. The Webtrends technology team showed off a live Streams feed from the Motorcycle Superstore website. Additionally, The Telegraph UK has also been using Streams to help it deliver the kind of content its readers expect.
The Streams engagement platform shows the news group how long people are on the site and where they are coming from, for example, all in real time. It also allows the website to fix broken links in just seconds, Bruce Kenny, SVP of technology and hosted operations at Webtrends said.
As so many business intelligence systems show, the need for actionable data is more immediate then ever. Streams and Webtrends more generally, indeed have leading technology in this area. Let us know if you're following along at the Engage Conference or if you are simply smitten with Streams or another in-depth BI system.