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Kathleen Kirk Todd Simmons. Agenda. Background Current Practices Issues to Address Recommendations. Background. Bazaarvoice. SaaS Founded in 2005 Based in Austin 700 employees Creates tools that help clients integrate social interaction into their websites. Verticals/Clients.

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Presentation Transcript
  • Background
  • Current Practices
  • Issues to Address
  • Recommendations
  • SaaS
  • Founded in 2005
  • Based in Austin
  • 700 employees
  • Creates tools that help clients integrate social interaction into their websites
verticals clients
  • Retail
  • Manufacturing
  • Financial Services
  • Healthcare
  • Travel
  • Media
  • Ratings & Reviews
  • Ask & Answer
  • Stories
  • BrandVoice
  • BrandAnswers
  • ActiveProfiles
  • SmartSEO
  • SocialConnect
  • Content Moderation
  • Client Success
  • Design Services
  • Technical Services
  • Innovation
competitive landscape
Competitive Landscape
  • PowerReviews = low-end competitor
  • Biggest threat: Using a combo of tools to get the same basic BV functionality
  • Tools made by Pluck, Lithium, Jive, Radian6, Searchandise, Channel Intelligencer
  • BV wants to position itself as being the best choice to tie everything together
bv marketing team
BV Marketing Team
  • About 50 people working in this area of the company
  • 4 different groups focused on different aspects of marketing
    • Strategy
    • Communications (events, website, etc.)
    • Product Marketing
    • Solutions
other departments client services
Other Departments / Client Services
  • Consists of Client Success Directors (CSD’s)
  • Works with the clients to ensure they have the best tools to meet their strategic needs
  • Main point of contact for existing clients
  • Customer support and account supervisor role
  • Advises the clients on how to implement BV tools and best practices
other departments sales
Other Departments / Sales
  • Consists of Market Developers (MD’s) and Sales Directors (SD’s)
  • Help shepherd potential deals through the sales process
  • Follow up on leads that are generated by marketing, communicate with prospective clients, develop ROI’s, negotiate pricing, and close deals
our assignment
Our Assignment
  • To create a marketing plan to up-sell existing customers
  • Most of their clients signed on 3-5 years ago and are only using the basic R&R product
  • Bazaarvoice is trying to move into offering a suite of products
  • Currently, relies on CSD’s / Sales to upsell clients
  • They expect 40% of their revenues in the next year to come from upsells
  • Also, upsells close 28% faster than new product sales and are only 7% less valuable
our process
Our Process
  • Researched
    • Bazaarvoice products and services
    • Current BV marketing efforts
    • B2B best practices
our process1
Our Process
  • Interviewed BV employees
    • Deborah de Freitas (Director of Marketing Communications)
    • Harrison Yeager (Marketing Operations Manager)
    • Chris Smith (Sales Director for Retail)
    • Rachel Hocevar (Client Success Director)
    • Shawn Gaide (Director of Market Planning)
    • Susan Stogner (Client Success Director)
    • Tina Dobie (Client Success Director)
traditional b2b marketing
Traditional B2B Marketing
  • Events
  • Webinars
  • White Papers
  • Website
who makes client decisions
Who makes client decisions?
  • Bazaarvoice mainly sells to marketing teams (not IT)
  • Mainly want to direct their message at the marketing teams andespecially CMO’s
bazaarvoice content
Bazaarvoice Content
  • Bazaarvoice creates a huge amount of content with the goal of reaching CMO’s
    • White papers
    • Case studies
    • Webinars
    • Blogs
  • Content is available on BV website
  • Requires registration, which allows them to track downloads and follow up with a sales call
  • Working with an outside agency to create a redesigned website, mobile version, possible new logo and brand, etc
  • Also planning to integrate BV’s own tools into their website
bv events
BV Events
  • Social Summit
  • Roadshows
  • About 50% of typical attendees at summit are CMO’s and above
  • $4 million came out of the last summit
  • Expensive to conduct
  • Has never run print ads
  • Has run digital ads
  • No banner ads
  • Has tried Google Adwords
  • Open to advertising
  • Current email timing
  • Includes newsletters, announcements about new content, info about upcoming events, announcement about new products, etc.
  • Trackable data: when someone responds to an email, or clicks through on a link in an email
  • Lead management system: Salesforce
    • Designed mainly for initial sales.  Doesn’t work great for upsell.  Needs a lot of customization.
  • Marketing Automation Tool:Eloqua
    • Has social CRM, email integration, Salesforce integration, etc.
  • Data Gathering/Tracking
    • BV uses Salesforce and Eloqua to store and analyze data about prospective and current clients
  • Client portal based on Salesforce
  • Mostly a support tool, but also includes some analytics and customer profiles
current process for upsell
Current Process for Upsell
  • CSD owns client relationship
  • Tries to act as consultant
  • Hard due to CSD/client ratio
  • Tiered system
  • Consultant model doesn’t scale
rad model
RAD Model
  • BV already uses the RAD model as a way to structure their upsellstrategy
key questions
Key Questions
  • How to get Summit content to those not attending?
  • How to keep client excitement up after the Summit?
  • How to share knowledge of the CSD to marketing and sales teams?
  • How to retain the existing customers and their revenue?
  • How to tap into what’s going on with the client? How to get information to the right person at the right time in the decision-making cycle?
  • How to reach the right people within the client company?  How do you go up the chain to the CMO or move laterally to reach other groups at the company?
  • What are the right client touchpoints to maximize upsell?
  • Marketing Plan
  • Prefer a long-term system rather than a short-term campaign
  • Doesn’t need to include all the sections of a traditional marketing plan
  • Focus on marketing strategies in the plan
  • Definitely tailor messages by vertical -- Different clients are going to have different questions and value propositions
areas we should cover
Areas We Should Cover
  • Can give recommendations that cover multiple departments
  • Discuss a discrete set of marketing activities that improve performance
  • Concrete recommendations for how to make progress on the goal of upsell
  • Next steps
  • People need to walk out with actionable outcomes
items to omit
Items to Omit
  • Due to limited time, not expected to:
    • Develop a budget
    • Calculate ROI
  • Also not expected to cover:
    • implementation details
    • resource allocation
    • timeline
data gathering goals
Data Gathering / Goals
  • Need processes in place to compile data on:
    • current clients
    • effectiveness of upsellstrategies
  • Client data should include verticals, sub-verticals, geography, company revenue, growth, daily interactions, org charts, etc.
  • Upselldata should include response rates for different campaigns, touchpoints, communications, etc.
data gathering internal processes
Data Gathering / Internal Processes
  • Streamline databases to remove fields that are obsolete or low priority (or selectively display)
    • Result = more user-friendly tools and increased adoption
  • Integrate software tools (Salesforce, Netsuite, etc)
    • Result = better data sharing between departments
  • Decide who owns each field in the database
    • CSD: update with day to day client interaction
    • Marketing: tracking and market intelligence
    • Sales: sales data, especially upsell
  • Conduct training to ensure understanding and buy-in
data gathering external sources
Data Gathering / External Sources
  • Use market intelligence tools (like Reachforce) to acquire additional data on clients
  • Expand Spark to become main client portal, then track client interactions within the site
  • Allow clients to keep their own data healthy (by updating it directly in Spark)
data gathering who is responsible
Data Gathering / Who is Responsible?
  • Effort should be driven by Marketing Research (Shawn) & Marketing Operations (Harrison)
  • 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
data usage data analysis
Data Usage / Data Analysis
  • Additional data allows for:
    • Better analysis of trends
    • More precise targeting
    • Division of RAD matrix into sub-categories
  • Create software to analyze data, using trend/pattern/sentiment analysis, to detect upsell opportunities
data usage upsell notifications
Data Usage / Upsell Notifications
  • 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
  • CSD must balance these notifications with their first-hand knowledge of the client’s situation
  • If notification is inaccurate, then enter more dataabout why
data usage company targeting
Data Usage / Company Targeting
  • Use gathered data to achieve more precise company targeting
  • Every client interaction should emphasize vertical, size, point in lifecycle, etc.
  • Move toward dynamic content in electronic communications
  • Make Bazaarvoice website more vertical specific
data usage people targeting
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.
inter departmental collaboration
Inter-Departmental Collaboration
  • Structure
    • Clearly define where the hand-off occurs between CSD’s and Sales on upsell
  • Data
    • CSD’s and Sales should enter more data about client interactions into Salesforce
    • This will allow for a smoother hand-off
inter departmental collaboration1
Inter-Departmental Collaboration
  • Marketing, Sales, and CSD’s must all communicate a consistent message to clients to support upsell
  • Each department must “tell the same story”
  • These messages are detailed in the next section
messaging key messages
Messaging / Key Messages
  • Messages to support upsell should include:
    • Value
    • Volume
  • Already doing this to some extent
  • But the content should be more targeted for each specific client
  • Benefits of this approach:
    • Increases client satisfaction
    • Lays the foundations for upsell
    • Help retain existing clients
positioning product positioning
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
positioning campaign
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
    • Old: Changing the world, one conversation at a time.
other technology spark
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
  • Provide a dynamic, customized experience for each user
other technology sample content
Other Technology / Sample Content
  • Create software to gather/filter sample content
  • Show what a client would gain from BV product
  • Show content in emails, Spark, etc.
  • CSD’s / Sales should still have final moderator control