PREDICTIONS 2014 How Data Will Change The Playing Field For Marketing And Sales
WE'VE SAID IT BEFORE. IT IS AN AMAZING TIME TO BE WORKING IN MARKETING AND SALES. Technology has changed the game. Now, more than ever before, we have access to more data and insight to help us market, sell and service our customers. Companies on the cutting edge are learning from consumer counterparts to utilize the wealth of data to improve their businesses. We are pushing overselves to become more data-driven in our decision making and planning. But it's more than just lip service. So we connected with over 20 thought leaders in marketing and sales and asked the same question: How will sales and marketing professionals become more data-driven in 2014? We enjoyed reading everyone's predictions and we hope you will to. Please feel free to add your prediction and share this with anyone you feel would find value in it. Enjoy! -The Lattice Team
1 Using insight to shorten sales cycles Companies will marry big data marketing and sales insights with detailed "outside-in" understanding of @chriscrandell their buyers' journey to drive higher campaign and sales Christine productivity resulting in 20% shorter sales cycles. Crandell Chief Experience Innovator New Business Strategies
2 B2B will model sales and marketing after B2C Technology accelerates transactions, increases efficiency and lowers the cost of doing business. @gerhard20 Technology impacts people's behaviors and in the B2C Gerhard space, it gets consumers to make decisions in real time. Gschwandtner When we get hungry we go to Yelp. When we need a CEO car, we go to Zipcar. B2B buyers demand similar, instant Selling Power responses in the B2B space. They'll often realize that it is easier to get information and insights about a product or service from a peer than it is from the B2B vendor. In 2014 sales and marketing professionals need to translate information into insights that deliver real value to the customer - in real time.
3 A deeper understanding of the customer Sales and marketing professionals have been leveraging data to learn more about their customers. They will @davidabrock continue leverage data and analytics to develop deeper Dave understanding of the customer. Brock But in the coming year, we will see data and analytics CEO used to bring rich, concrete and specific insights to Partners in their customers. These insights will be company, EXCELLENCE functional and role specific. Sales and marketing people will leverage these to drive specific conversations to help customers improve their businesses and more effectively achieve their goals.
4The year of context We will see great use of "context" in sales and marketing. By context, I mean everything from recent @jonmiller behaviors and activities to location to real-time Jon predictions. Companies will get better at bringing in Miller this rich contextual data and using it to make better VP Marketing and decisions about how to prioritize sales team's time and Co-Founder personalize marketing interactions. Marketo
5 New technology brings productivity boosts Salespeople will see a massive productivity gain by adopting a new wave of technology aimed at them. This @markroberge technology will help them engage the right prospects at Mark the right time with the right message. Roberge Chief Revenue Officer HubSpot
6Culture, data and content 2014 will be about 3 things for sales and marketing: culture, data and content. @brennermichael The pressure of more customers doing their own research Michael further into the buying process will finally force sales and Brenner marketing to transform themselves into truly customer- VP, Marketing centric cultures that use data and personalization to deliver and Content valuable, informative and entertaining content. Strategy SAP So while CMOs and heads of sales will need to lead with courage to put customers ahead of worn out notions that overly promotional marketing and the hard sale still work, marketing and sales leaders will be setting up enterprise big data platforms to follow customer trends. Brands will setup real newsrooms, start producing content like a publisher— content their audience wants and needs—personalized to them.
7 The end of separate systems The greatest advances in 2014 will come from sales and marketing using the SAME data to prioritize and act on @heinzmarketing the right, ready-to-engage prospects. Too often today Matt they're using separate systems, separate databases. Heinz Pull that data together and magic can happen! President Heinz Marketing Inc
8 Leveraging the heck out of technology With all the hype around content marketing, social ads and ad optimization, etc. in 2014 I predict a year more @kaykas focused on the business processes connecting sales Jascha and marketing. We have all the technology we need. It's Kaykas-Wolff time to leverage the heck out of it. CMO Mindjet
9Data driven—it's not what you think There are two types of marketers - those who are trying to become more data driven and those who @funnelholic realize there is WAY more data than just what people Craig downloaded and what web pages they visited. The Rosenberg marketers who have mastered scoring with their Partner marketing automation will begin looking to more data TOPO to make better decisions (aka predictive analytics).
10 Change in comp structures I predict many marketers' new comp plans will reflect revenue performance metrics, not MQLs or any other @etratnyek metric. Data will drive quality pipeline. Jason Long of Erik the Pedowitz Group has it covered in this blog post: Tratnyek Regional Director http://www.pedowitzgroup.com/blog/vanity- Lattice Engines marketers-your-days-are-numbered
11 The transformation of marketing We've all had a front row seat to the marketing transformation over the past 10 years: digitization, @bkardon real-time, social media, content marketing, inbound, Brian marketing automation. These were not ephemeral Kardon ideas. They transformed marketing. Predictive CMO analytics is now emerging as central to the modern Lattice Engines marketing organization and a top focus for 2014. Leading marketers are leveraging data science to market and sell more intelligently. They are bringing every relevant buying signal — from the web, social, CRM and marketing automation sources — to find, prioritize and close their next customer. Inspired by the awesome predictive analytics engines of Google and Amazon, we are seeing a marketing arms race emerge— powered by data.
12 Social media will lead demand We will see more B2B lead gen from social. Marketers are learning how to tap into social networks - Twitter, @meisenberg LinkedIn and Facebook to drive engagement and Meagen capture the lead. Services like Social123, LittleBird Eisenberg and InsightPool are helping us figure out better VP of Demand acquisition strategies, find business influencers and Generation append contact information. And the beauty of social DocuSign is that the account owner is incented to maintain their information, so we will see a higher level of accuracy than from traditional list vendors.
13 The buyer remains in control The buyer’s control of the sales process will continue to grow. Today, the research and prospecting process is @engagecolleen dominated by the prospects. They go online, research Colleen who has solutions for the problems they’re facing, Francis read case studies and talk to their colleagues. In 2014 President and beyond this domination of the buying process Engage Selling will continue into the qualification and solution design stages of the pipeline with prospects visiting your website and determining whether or not you’re qualified to do business with them, not the other way around! Prospects are taking action and reaching out to sellers proactively more than ever before! Before, they didn't know you were there until you called. Today, you don't know they are there until they buy!
14 The journey to repeatable success Given the various evolving technologies, applications and digital channels, organizations really need to @amandaf_batista think big about how they approach their audiences. Amanda Integrated strategic measures are critical to delivering Batista on the promise of relevance and value, and data fuels Content the ability to refine communications. Marketing Manager One of the ways data will support the alignment of Oracle Eloqua marketing and sales is by enabling the two teams to maximize the value of their respective reporting and analyses. When everyone understands how to analyze data in ways that are meaningful to key performance indicators, organizations can improve on their commitments to repeatable success.
15 The rise of smarketing The departments of marketing and sales give the first steps towards an inevitable merger to a new @joaofmferreira department called smarketing. The digital disruption João of all businesses leads to the creation of this new Ferreira multidisciplinary group. CCO Sanitop
16 Too much personalization? I think the industry is going to become too hyperfocused on personalization/segmentation to the @jtrondeau point where they are making decisions based on sample Justin sizes that are just too small. This type of advanced tech Rondeau is great for big companies and fun to write about, but Chief Editor & may not be applicable to most people interested in Testing Evangelist data-driven marketing. WhichTestWon On a more positive note, I think there will be a further trend to use qualitative data to start 'humanizing' the quantitative data we gather in our analytics platforms. Numbers are in a vacuum, and it is our job as marketers to make the numbers 'real' to make strategic business decisions. 2014 will [hopefully] be the year that bridges the gap between the data-centric & the user-centric.
17 Optimize and predict! I want to believe that 2014 will be the year organizations begin to use their data to optimize and @cahidalgo become more predictive. In looking at some of the Carlos recent studies, it is clear that many B2B organizations Hidalgo are still grappling with how to use their data as a key CEO strategic driver of their business. The tools and access ANNUITAS to data are more prevalent than ever and 2014 needs to be the year where the application of this insight is applied to drive Customer Lifetime Value and revenue outcomes.
18 The democratization of data science In 2014, marketers will realize that they can harvest the buying signals from the web, social media and 3rd @shashisf party data sources to improve every aspect of demand Shashi generation and sales. The prize will go to those who Upadhyay do this first by following the practices of Internet- CEO scale companies like Google, Facebook and Netflix Lattice Engines and focusing on drawing insights from data to make predictions about who is likely to buy next. All the pieces are now in place – the cloud, large installed bases of CRM and marketing automation systems and the exploding data volume. Predictive marketing and sales applications will democratize the power of buying signals for everyone, no team of data scientists required.
19 A focus on online and account-level With 67 percent of the buyer's journey happening online, and not all of it at the start of the journey, @megheuer sales has a big interest in knowing what's happening Megan online and what to do about it. Next year will see Heuer tighter alignment of tools that give visibility into VP and Group online behavior and delivery of sales enablement that Director, Data- makes it more efficient for reps to follow up with the Driven Marketing right response. We'll also see marketers doing a better SiriusDecisions job of planning their efforts against account-level objectives and not just general market assumptions. Finally, 2014 will be seen as the year b-to-b got serious about customer experience, with sales and marketing defining their roles in the post-sale relationship based on understanding customer needs and behavior online and off.
20Data will provide a leg up on the competition Based on the results of our 2014 Sales Performance Optimization (SPO) study, we continue to see a @jimdickie deterioration in the conversion rate of leads to first Jim discussions. To overcome this, marketing first needs to Dickie do a more effective job of analyzing which prospects are Managing Partner more likely vs. less likely to want to engage with their CSO Insights firm, and then execute targeted lead gen campaigns towards those accounts. Sales then needs to thoroughly research those accounts to develop compelling reasons for why the prospect should agree to include a salesperson in their "buying" process. Vendors who succeed at leveraging data to accomplish both these tasks will have a significant leg up on their competition.
21 Farewell to finger-pointing In the B2B economy, the trajectory of data-driven decision making will move toward consolidation in @brittonmanasco the front office. Specifically, I think we'll see more Britton Chief Revenue Officers emerge—replacing formerly Manasco distinct (and isolated) VPs of Sales and Marketing. It's a Principal farewell to finger-pointing. The intelligence aggregated Visible Impact from data enables more expansive views—and more expansive decision making power. Interestingly, marketing directors and sales directors, managers of the data at the operational level, will become more powerful, too.
22 Finding the right insights With clear and measurable evidence that data-driven organizations perform better, sales and marketing @annekeseley teams will continue to find ways to quantify patterns Anneke and derive insights from data to find, close and keep the Seley right (most profitable) customers. Coauthor, "Sales In our era of massively available data, it is not easy to 2.0" and CEO and founder figure out what information really matters. I predict Reality that we will see sales and marketing leaders hiring Works Group (or contracting or partnering with) data scientists, dedicated to analyzing buyer and seller behavior to increase revenue generation, sales productivity and customer retention.
23 The year of change The shift to digital business will impact sales and marketing professionals in a way like no either. @rwang0 Professionals will: R "Ray" Wang • Recognize that we no longer sell products and services, as buyers seek experiences and outcomes. Principal Analyst • Democratize the data to decisions pathway to enable & Chairman innovation. Data driven decisions are the norm and Constellation Research speed up the time to action. • Realize that B2B and B2C are dead. It’s a P2P and M2M world. • Focus on context as right time relevancy beats real time information overload. Data drives context and relevancy. • Shift from engagement to personalization at scale. We're making that move right now.
24Love the one you're with I very much hope that we will witness greater concentration and focus on the development of existing @topsalesworld client relationships. The reality is that far too many Jonathan organizations are devoting 80% of their resources on Farrington finding new opportunities and yet 80% of their business Senior Partner arrives from current clients/customers. Unsurprisingly, Jonathan Farrington those same customers who took so long to first identify, & Associates then qualify, then close, are often left feeling extremely neglected, and eventually disappear - or more often, are "stolen" by a competitor who shows more interest in them. Let's make 2014 the year we "love the one we're with" rather than being so commercially promiscuous.
25 Content = data + art In 2014, content will become even more important for sales and marketing, and the most effective (and, @annhandley increasingly, innovative!) content will be inspired by Ann customer insights based on real facts—supported by Handley data—not just hunch, opinion, guesswork or “feel.” Chief Content But, at the same time, content can never be completely Officer data-driven. In other words, data is part of the process, MarketingProfs but it’s just a part because creative inspiration is equally important. The best content tells a true story well. The ability to create a compelling story (via creative inspiration) based in real customer insight (via data) is the key. I guess you could say that data + art are the killer strategy in 2014 and beyond.
About Lattice Lattice delivers data-driven business applications that help companies of all sizes market and sell more intelligently. Inspired by today’s consumer applications, Lattice brings every relevant buying signal into the world’s most comprehensive, cloud applications. With Lattice, companies stop guessing and start relying on data science in an application that anyone can use to find, prioritize and close their next customer. Its rapidly growing customer base, including Dell, SunTrust and VMware, use Lattice’s open and secure applications to generate 75% more pipeline, triple conversion rates, and double win rates. Lattice is backed by Sequoia Capital and NEA.