Buyer Roles, Buying Stages, and Perception Challenges

We looked earlier at the evaluation of existing content assets that can be done at each stage of the buying process, and for each buyer role involved.

A similar exercise needs to be done to assess where the need for content is greatest. For each stage in the buying process, and for each role, a list of the perception challenges we face in the market can be created. From here, we will know the ideal messages for buyers to absorb.

These "messages" can be facts that are actively or passively sought by buyers. Actively sought examples are messages that are searched for, such as the specifications for integrating with a specific third party system. Messages that need to be delivered passively, however, are not actively searched for - such as corrections to misconceptions such as the idea that your solution is not appropriate for larger organizations.

Evaluating Messages

To begin, much like the evaluation of current content assets, a matrix can be created that has buyer roles along the y-axis, and buyer stages along the x-axis. In each box, the messages, information, and perceptions that need to flow out to the market can be listed, along with an assessment (red/yellow/green) of whether you are currently being successful in getting those messages out to the market. The value of this exercise is in its ability to shine a light on areas where you may have a significant messaging gap.

Successful marketers are able to inject these messages, perceptions, and criteria throughout the overall education process of a buyer, slowly altering perceptions, guiding the way in which solutions are evaluated, and ensuring that needed information is discovered.

The need to get this broad variety of messages out to buyers, now that buyers are in control of their own buying processes, is what has led to the growth in nurture marketing, as well as the business use of social media as a publishing platform. At each stage, a failure to successfully get these messages out to prospective buyers can quickly lead to buyers failing to progress in their buying process - the three types of leaks in the funnel covered in an earlier post.

Mapping the Buying Process - A Framework

One of the recurring themes in this discussion has been the concept of thinking in terms of a buying process not a selling process. Many times when I speak about this topic publicly, there is general agreement in the audience, but the question of how to map a buying process often comes up. In some industries, it is significantly easier than in others, but some common techniques can be used across all industries to best understand how buyers ultimately arrive at a buying decision.

Mapping this process is more art than science in most cases, but the following question framework can help analyze how your buyers buy and if there are opportunities for better facilitating their buying processes. In each main stage of the buying process, one set of questions (below) looks at understanding whether there is a problem at all in this stage of the buying process, a second set looks at understanding how current buyers make it through that stage, and a third set looks at how your overall marketing performance could be improved in that stage.


Awareness and Education

Is there a problem: Are prospective buyers generally aware of your solution category and what it can do for their business?
- Ask industry analysts their opinion on the general knowledge of the market among likely buyers
- Survey your sales team on their experiences with initial calls
- Perform some first-hand survey research with likely buyers

What currently happens: How do existing prospects become educated about your category?
- Survey existing customers and prospects on where they read about topics in the general area of business you are in
- Analyze the traffic sources to any of your educational or thought leadership content
- Become an avid reader of industry newsletters and sites to understand their content topics and whether messages about your solution area are included

What are the options: How would prospects become aware of your category if they were not already aware?
- Look at the search results that are returned for searches on some of the terms related to pains that you solve (not terms that describe your category)
- Survey your marketing team on what events, tradeshows, and publications are well attended/read by key buyers in your industry
- Discover which industry sites discuss you and/or your competitors frequently
- Analyze which sites are referring web traffic to your site



Vendor Discovery

Is there a problem: If prospective buyers are going to find vendors to look into more deeply, are you on their list?
- Review competitor wins to understand whether you had been in consideration
- Look at the percentage of search phrases driving traffic to your site that already contain your brand or product names
- Poll your sales team on the frequency with which they were added as a last minute option, based on a cold call or chance encounter
- Analyze the percentage of leads that are originally sourced by marketing or arrived as inbound leads vs being generated by a cold call

What currently happens: How have prospects typically found you?
- Analyze the non-branded search terms that drive traffic to your website
- Poll your inside sales team on how their inbound leads heard of you
- Report on the breakdown of inquiries by source to understand what is driving early-stage inquiries
- Understand the percentage of leads in your marketing database that have been nurtured prior to becoming a qualified lead

What are the options: How would prospective buyers likely build their list of potential vendors?
- Determine whether the key industry comparison charts and analysts list your company
- Search for terms related to your category to see if your content is featured in the results
- Listen to webcasts, videos, or talks from key industry influencers to see if you are mentioned
- Act as a potential buyer and do your own "research" into solutions for the problems you solve to see if you are findable


Solution Validation

Is there a problem: When a buyer evaluates your solution, do they select you?
- Look at win/loss ratios for deals over the past few months or quarters
- Compare growth rates of your business vs competitors
- Build a discipline of analyzing losses with the sales team to understand buyer reasons
- Determine if you are ranked poorly in industry comparison charts

What happens now: How are buyers currently making their selection of a vendor?
- Analyze competitors positioning of your organization and your solutions
- Conduct third party win/loss surveys to obtain deeper information on buyer decision criteria
- Scan search phrases that include your brand or product names to look for objections or decision criteria
- Look at the marketing resources (whitepapers, case studies, free trials) currently being actively used by buyers to understand their current experience

What are the options: How can buyers’ decision process and decision criteria be better influenced?
- Identify key analysts and influencers who guide the market on how to think about key decision factors
- Map buyer objections to changes in buying criteria or positioning that can be inserted into nurture marketing efforts
- Audit common objections against current marketing assets to determine if gaps exists that would be better filled with a different marketing asset such as a free trial


This is, of course, just a framework for thinking about the problem. Every organization, and every industry, deals with a slightly different set of buying challenges. However, this framework can be quite useful for identifying gaps, challenges, or opportunities in the way your audience currently buys.

Simple Metrics and the Business Case for Marketing Automation

There has been a lot of great discussion lately about the business case for marketing automation. For obvious reasons, I'm excited to see the discussion, but it often takes an interesting turn. The way in which people often attempt to measure it is in either efficiency gains, or revenue gains - when compared with a manual process for marketing in the same way.

This is the comparison I see a challenge with, and viewed in that light, it will be hard to see the level of value that is being seen today by the best marketers.

If you look at what marketing automation does in terms of business transformation, it is insufficient to characterize it in terms of simply just an efficiency gain, or a revenue gain. It changes the way that we, as B2B marketing organizations, are able to interact with prospects, and opens up new avenues of prospect understanding and prospect communication that simply would not have been viable without marketing automation.

A comparison is the transition from film to digital cameras. If you look at what is possible with film cameras, in terms of photo sharing, digital editing, virtually unlimited photo storage, and the social media use of photos, it is clear that digital cameras present an entirely new way of interacting with images. If contemplated from a framework of film photography, you might look at something like sharing a photo to Facebook and think of digital cameras as offering an efficiency gain; it’s possible with film, you just snap the photo, develop it, scan it, save it to a file, and then upload it. Much less “efficient” but still possible.

However, this misses the point. These things are not simply spectrums of efficiency or revenue, as there is a certain point at which the task would simply not be done.

If you look at the business process that B2B marketers using marketing automation are working to enable, it has a similar challenge. A simple way of looking at it is that we are seeking to:

a) Understand prospective buyers through reading their digital body language

b) Communicate with them accordingly, either through lead nurturing when they are early in their buying process, or through sales engagement if they are later in their buying process

The challenge with making a direct comparison between marketing as enabled and automated with today’s marketing automation software platforms, and marketing without using automation is that the level of buyer understanding and engagement being sought is simply not attainable without automation in any practical way.

To put the marketing situation in context, using marketing automation, we are attempting to deliver the right message to the right buyer at the right time. This means that we might use digital body language to understand the buyer’s role in the buying process (technical evaluator vs economic buyer), we might seek to understand where they are in their buying cycle (awareness/education vs vendor discovery vs solution validation), and we might attempt to time a message a week after they last engaged with us in order to remain top of mind.

Building this with outbound, batch and blast marketing solutions leads to a fundamental problem. Even with this simple version of buyer understanding and message personalization, the level of personalization required quickly moves you from a single communication per month, of perhaps 9000 recipients, to 36 individual communications, each only going to 250 people. On top of this, the lack of built-in awareness of buyers’ digital body language would mean that you had 36 individual segments to select, based on an off-line analysis of the prospect’s behavior.

This leaves us in a similar comparison to the digital vs film photography example. Much as sharing photos on Facebook is theoretically possible using film photography, but in practical terms virtually impossible, marketing in a way that understands and responds to buyers’ digital body language is, in any practical terms, impossible without marketing automation software. You must compare one overall approach with another, and understand it in aggregate.

So, when compared in aggregate, it is tempting to come back to the argument that it only makes sense in terms of a revenue gain or a cost decrease. This is not altogether false, but must be understood in context of your overall market. As it is not possible to truly understand and respond to the unique buying process of each of your buyers without a marketing automation solution, the comparison must now be understood in the context of the competitive landscape. If your competition is understanding and engaging the prospective buyers in your industry based on their individual buying processes, while you are not, they will have access to revenue that you simply will not have access to.

Framing the argument in terms of marketing automation allowing an increase in the efficiency, or the output of an existing revenue generating process is ignoring the fact that marketing automation allows a fundamental, and much needed, change to the revenue generation process itself.

Relationship Sales and Today's New Buyer

For years, the prevailing thinking in sales has been oriented around relationship sales. The idea was that by being a friendly person, a good listener, and a decent golfer, you could gain the opportunity to build trust with potential buyers. In initial conversations, sales would ask a lot of questions, learn about the prospect’s business, delve deep into areas of pain or business challenge, and finally wrap things up with a solution that was oriented to curing these pains and solving these challenges.

However in today’s world, there is often not an opportunity to have that conversation in the first place. Unless you have information of value to offer first, the chance of a prospective buyer wanting to spend an hour with you to describe their business while you ask questions is plummeting . The access to information, which was once mainly managed by sales, is now open to all. This has forever changed the dynamics of relationship selling, as the early conversations, upon which the “trusted advisor” relationship were built, are now being diligently avoided by most prospective buyers.

Now, that trust is built by educating prospective buyers early in their buying process, providing information of value to them, and establishing the credibility of knowing enough about the space to be able to solve their problems. Rather than relying on large sales teams with good golf skills, this now relies on marketing and sales teams who are able to work together closely to understand prospective buyers and educate them on topics of interest to them so they remain engaged throughout a lengthy buying cycle.

So where does that leave the discipline of Sales?

The discipline of sales is changing fundamentally, as there is a shift away from the upfront concepts of relationship building social functions and the discovery call. Sales is shifting towards being a discipline that builds trusted relationships based on providing real business value based on prospective buyers true needs and discovery based on guiding, and observing, buyers own education processes.

For those in the Atlanta area, I’m excited to be joining Rick Page, author of Hope is Not a Strategy, and Debbie Qaqish, Principal Partner at the Pedowitz Group in a luncheon and panel discussion on these exact topics. The event is on Friday, September 25th, and more information is available here:

http://success.eloqua.com/?elqPURLPage=2557

For those unable to attend this event in Atlanta, I will definitely share the ideas, thoughts, and discussions that come out of the event with the audience here.

The Buying Process; Auditing your Content Assets

Shifting your thinking from a selling process to a buying process means understanding how buyers buy and what stages each type of buyer goes through. When you have mapped out your buyer roles and the stages in their buying process, the next step is to determine what content is needed or available at each step in order to facilitate their buying process.

A very useful exercise to undertake is an audit of your existing marketing content in order to understand what content you currently have available and what new content may be required. This audit leads to a content matrix that forms a very useful basis for defining both your nurture marketing approaches and your content development strategy.

Creating the matrix is relatively straightforward. On one axis, list the key buyer roles you encounter; perhaps these are the standard technical buyers, user buyers, and economic buyers that are common definitions across many industries, or perhaps you have a more specific set of buyers you engage with.

On the second axis, list the stages of the buying process for your customers. Generally, this goes through three stages:

- Education and Awareness, where buyers learn about what is possible or required in a given industry
- Vendor Discovery, where buyers determine what vendors are available to solve a particular business pain
- Solution Validation, where buyers short list and ultimately select a particular vendor to assist them with a specific challenge

However, the phases of a buying process for your business will be quite specific.

With this matrix complete, you can now remove any cells that are not relevant, perhaps if user buyers are only brought in late in your buying process. Each cell in your content matrix now represents a combination of a buyer and the phase in the buying process that they are going through at a certain point in time. Each of your marketing assets should map to one of these cells (or perhaps a small number of cells in the case of certain broadly applicable assets).

By filling in the content matrix with your available marketing assets, and perhaps color-coding with red, yellow, and green based on quality, you get an overall view of where in the buyers’ buying process your content assets exist, and where they are strong. Some obvious gaps may become immediately apparent.

This content matrix can then be compared against the marketing challenge you face. As you plan your lead nurturing strategies, understanding where in the marketing funnel you need to focus on and where in the buying process your content exists is key.

Detecting Buyer Roles in B2B Marketing

Understanding what role a buyer plays in the buying group is critical in effective B2B marketing. With a good understanding of what role each person plays, we are better able to cater our messaging, and our nurture marketing.

Each buying process is unique, and much as we can map the stages of the buying process for our products or services, we can also map the key roles in the buying process. These roles are likely to be very similar to the roles that your sales team has mapped out, just that they may be earlier in their investigation than when sales typically engages.

For each potential role in the buying group, we can define what the typical digital body language of a person in that role might look like. The specifics of this will of course depend on your buyers and what you have available on your web properties.

A generic set of buying roles might look like:

Economic Buyer/Decision Maker: This person is the gatekeeper to the budget and evaluates projects from an ROI perspective. Look at digital body language for viewing or searching for ROI focused case studies and calculators, vendor viability information such as investors or management team, and risk mitigation factors such as warranties.

Technical Evaluator: This buyer brings specific technical expertise to the buying situation, and evaluates projects on their technical merits and viability. Look for digital body language that indicates deeply technical investigation; product specifications, precise searches for highly technical information on your solutions, and activity on technical discussions and blogs.

User Buyer: The user buyer represents the users of your product or service. They are looking to understand its effect on their day to day lives, and as such may be seen looking at trials, demos, user documentation, or support sites in order to understand how they will operationally use the products.

Influencer/Coach: As a participant who is somwhat involved in the buying process, and/or highly supportive of your efforts, look for activities that suggest internal promotion of your ideas, such as frequent forwarding of content internally, referring of key internal stakeholders to your material, and searching for material that would bolster internal support for your offering.

Much as we looked a mapping web assets to stages of the buying process, we can look at mapping assets to roles in the buying process, and by doing so, gain a better understanding of what role each buyer plays in the buying process. With this, we can make our marketing efforts much more precisely targeted and effective.