Maximizing

CEC Your Marketing ROI

Across the Buyer Journey 1
 Presenters

Liz Harr Kimberly Marx

SENIOR PARTNER DIRECTOR OF ALLIANCES & MARKETING
HINGE MARKETING BIG BANG

eharr@hingemarketing.com kimberly.marx@bigbang360.com
in/eharr/ in/kimberlymarx/

Maximizing Your Marketing ROI Across the Buyer Journey | 2






Agenda

Why measure marketing impact

Understanding the buyers and their journey

The five stages of the buyer journey

Q&A

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Why Measure
Marketing Impact

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Your buyers and customers are changing

They are more informed and expect consistency,

transparency, and value at every turn

They are more demanding and covet personalization,

responsibility, and accountability

They are impatient and expect simplicity, convenience,

and proactive experience

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 The marketplace is changing too

New competitors are entering the space

Mergers and acquisitions by larger firms increase

competition

Effectiveness of marketing strategies and tactics

fluctuate

Technology continues to evolve rapidly

Geographic distance matters less in customer experience

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Accurate tracking metrics are essential but…

21%
of professional services rms
do not track business development
or marketing metrics

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 Common challenges with tracking ROI

Unclear goals or KPIs

Multi-channel marketing initiatives

Too many cooks / systems not connected

Technological barriers

Process not defined or varied (Campaign mapping)

Lacking expertise or time

Incomplete historical & benchmarking data

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 High Growth firms are much more digitally mature

Firms That Have Already Gone Current Level of Digital Maturity

Through a Digital Transformation
21.9%
30% 1. Reactive
35.0%
22.8%
33.3%
2. Organized
32.0%

11.5% 26.4%
3. Digitized
22.3%
14.4%
4. Connected
6.8%
0%

No Growth High Growth 4.0% High Growth

5. Intelligent
3.9% No Growth
0% 20% 40%

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Marketing teams at High Growth firms are more likely to

do more research and track campaign performance

Marketing Team’s Roles

59.2%
Researching your target market and competitors
52.1%

50.2%
Monitoring and tracking campaign performance
35.4%

0% 35% 70%

High Growth Low Growth

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 High Growth firms track a variety of metrics

Methods Used to Track Marketing and Business Development Metrics

Use KPIs, dashboards or spreadsheets to show the health of the pipeline, who 51.2%
should be contacted, relationship risks and business development activities 41.9%
Use of historical data for setting goals 49.8%
41.9%
Determine patterns that lead to success and adjust processes accordingly 48.3%
33.3%
Track page visitors and followers on social media 42.4%
33.3%
Use analytics from the website and/or other social and 40.4%
digital media to score leads and create prospecting lists 30.5%
Use metrics and ROI calculations to evaluate event success, 34.0%
thought leadership content or other opportunities 18.1%
Do not track or report on business development or marketing metrics
17.2%
32.4%
0% 27.5% 55%
High Growth Low Growth

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POLL QUESTION:

How confident are you

in your firm’s approach
to measuring ROI on
marketing?
Understanding
Your Buyers and
Their Journey

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Who are your buyers?

Decision makers
Influencers
Referral sources
Media outlets and thought leaders
Potential job candidates

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What do you research?

Buyer's business priorities

Relevancy of services

Where buyers search for information and insight

Competitive landscape

Buyer expectations

Spending and investment plans

Emerging issues

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How do you research?

1. Reference your internal data

2. Utilize secondary research

3. Conduct your own primary research

• In-depth interviews

• Surveys

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The power of research

1. Overcome subjective feelings

2. Cross-functional team alignment

3. Uncover provable differentiators

4. Improve relevance through messaging and tools

5. Address your team’s blindspots

6. Inform internal behavioral change needs

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 Understanding the buyer journey

Stage 1 Stage 2 Stage 3 Stage 4 Stage 5

Awareness Selection Delivery Retention Former

Customer

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The Awareness
Stage

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 What is the awareness stage?

Two primary objectives:

Stage 1
• Attract attention from people who
don’t know you
Awareness
• Communicate relevance in
Steps: 1. Stranger
addressing your target audience’s key 2. Mktg-Qual Leads (MQL)
issues 3. Sales-Qual Leads (SQL)

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Building visibility onsite and offsite

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 How do buyers search for solutions?
How Buyers Search for Work-Related Topics

Ask your peers or colleagues for a recommendation 8.1

Do a general web search 7.9

Listen to an expert speak on a topic 7.1

Read an article or blog post 6.6

Read a research report, eBook, or how-to guide 6.2

Attend a webinar 6.1

Watch a video 5.9

Attend a conference or event 5.5

Look on social media 3.2

0 2 4 6 8 10

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 How you measure at the awareness stage?

I MPL EM ENTAT IO N V IS IBIL IT Y

Use of technique Website tra c

Investment required (time & cost) Social media followers
Things to change next time Email list size
Event participation etc.

E XPE RT IS E BUS INESS IMPACT

Content downloads Earned media Inbound leads Wins

Blog tra c coverage Opportunities Firm growth and
Guest blogs published Speaking Proposals sent pro tability
engagements

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The Selection
Stage

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 What is the selection stage?

Relevant and differentiated nurture

Stage 2
Be seen as a trusted advisor without
saying it Selection: Evaluation
Create efficient/meaningful ways of & Final Decision
interacting with you
Steps: 1. Consultation/Demo
Convert to sale 2. Consideration
3. Decision
4. Negotiation
5. Purchase

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 How do your buyers select you as a service provider?
TOP 5 EVALUATION CRITERIA
1. Knowledge of the industry/
subject matter expertise
2. Relevant experience/past performance
3. Talented sta /team skills
4. Existing relationship
5. Client service
( exibility/responsiveness/timeliness)
fl
fl
ff
ff
TOP 5 DECIDING FACTORS
1. Existing relationship
2. Relevant experience/past performance
3. Talented sta /team skills
4. Knowledge of the industry/
subject matter expertise
5. Client service
( exibility/responsiveness/timeliness)
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How you measure at the selection stage?

Feedback from prospect (buyer)

Sharing and gathering of certain key information (buying

timeframe, budget, stakeholder)

Opportunity value, stage and likelihood of closing

Closing ratio

Time to close business by customer segment & campaign

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The Delivery
Stage

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 What is the delivery phase?

Provide the service promised with the

Stage 3
following goals:

•Time and material - ensure value to

repurchase.
Delivery
Steps: 1. Process overview
•Fixed bid - complete or surpass 2. Implementation/service
milestones in less time (profitability). provided
3. Billing
•Monthly service contract - ensure 4. Support
value to continue purchase and
promote service to others.

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How you measure at the delivery stage?

Project burn rate

Project completion

Client satisfaction surveys

Profitability & gross margin

Account receivable (collection of payments)

Upsell

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POLL QUESTION:

How satisfied are you

with your firm’s current
technology solutions for
tracking across the
buyer journey?
The Retention
Stage

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 What is the retention phase?

Nurturing and relationship building

Stage 4
Upselling the customer for other services

Renewal and maintenance Retention

Customer success promotion to gain Steps: 1. Nurturing (Relationship)
2. Upsell
new clients trust 3. Customer Success
Promotion
• Reference

• Case Study

• Online or event participation

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How you measure at the retention stage?

Client satisfaction surveys (NPS)

Public praise (Google Business etc.)

Meeting attendance

Customer story participation

Customer referral participation

Engagement with marketing assets provided

Renewal contracts and affiliate service

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The Former Client

Stage

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 What is the former client phase?

Lost customer: Stage 5

• Tracking reason

• Keep in touch with goal of reengaging them Former Customer

• Look for signs and symptoms to avoid losing Steps: 1. Lost
other customers 2. Fired

Fired customer:
• Ensure to off-board properly
• Update records to avoid working with in the
future (unless steps are taken)

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 How you measure at the former client stage?

Lost reason

Restarting the Buyer Journey, including:

• Re-engagement programs by marketing

• Sales touch points and tasks

Tracking change including: rebuy / re-onboarding

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Growth Acceleration Consultation

FUT U RE - P RO O F YO UR M ARKET I NG
Is the performance of your marketing stalling?
Has your positioning lost its relevance?
Does your firm’s visual brand differentiate you?

You have questions.

H I N GE CAN G U IDE YOUR FORWAR D.

R EQU E ST A F R EE CON SU LTAT ION






 Thank you! Questions?

Liz Harr Kimberly Marx

SENIOR PARTNER DIRECTOR OF ALLIANCES & MARKETING
HINGE MARKETING BIG BANG

eharr@hingemarketing.com kimberly.marx@bigbang360.com
in/eharr/ in/kimberlymarx/

Maximizing Your Marketing ROI Across the Buyer Journey | 40