“If this was B2C you might just look at, ‘Well, I had a great ad and the customer went to the store and I had a very good retail associate that helped close the deal.’ B2B doesn’t work that way.” So says Wayne Morris, the Corporate Vice President of Marketing for Microsoft Business Solutions. In this episode of Moneyball for Marketing, Wayne discusses the complex challenges of B2B marketing in a world where sales cycles are long, buyer journeys are nuanced, content is varied, contact is multi-touch and attribution is elusive. Peppered with real-world anecdotes from Microsoft’s work campaigns, sales and marketing teams and outsourced agencies around the World, here are just a few of about a half dozen best practice tips Wayne shared:
Wash, Rinse, Repeat: Wayne reveals the 4 components that make up Microsoft’s B2B marketing life cycle. He details the challenges of long, multi-touch sales cycles and explains the importance of marketing analytics to sales cycle optimization.
Make it Personal: Noting the importance of personalizing the buyer’s nurture path, Wayne maps out the 3 things that Microsoft does to personalize according to personas and the buyers procession along the nurture journey, offers a tip to turn anonymous visitors into known profiles and reveals how Microsoft achieves an impressive 48% open rate on nurture emails.
Collaboration Campaigns: It’s difficult to establish attribution for complex, multi-touch marketing campaigns. When “you’ve got a much better working relationship in a collaborative way between marketing and sales” things get easier. Wayne reveals how creating a collaborative interdepartmental environment helps resolve attribution disputes and even suggests letting Sales dictate the opt-out of certain prospects from campaigns.
Wayne Morris is the CVP of Marketing at Microsoft Business Solutions. Microsoft Business Solutions provides a range of offerings for customers to help them reinvent productivity and business processes, both for the front office – customer engagement, marketing, sales, customer care – and for the back office – financial systems, manufacturing systems, supply chain, etc.