RV139 - Demand Creation, Connected TV, and more | Chris Walker Weekly episode 2
Feb 4, 2024
auto_awesome
Explore demand creation strategies and the impact of connected TV advertising in B2B marketing. Learn about triggers for customer acquisition, the future of marketing media, and debunked misconceptions. Discover the importance of organic and paid media synergy in B2B advertising, tailoring content for marketers, and the changing landscape of paid advertising in B2B companies.
Demand creation is a crucial aspect of marketing that plays a significant role in driving customer interest and generating sales through triggering interest, educating customers, and providing solutions that address their pain points.
Connected TV (CTV) advertising requires a different approach compared to traditional digital ads, prioritizing creative excellence and aligning metrics with specific goals, such as increased brand awareness or driving specific conversions.
Optimizing outbound marketing efforts requires focusing on data governance, tracking signals of buyer intent, and regularly reviewing the effectiveness of strategies to improve sales productivity and achieve better ROI.
Deep dives
Understanding the Impact of Demand Creation
Demand creation is a crucial aspect of marketing that plays a significant role in driving customer interest and generating sales. Contrary to the belief that marketers have little impact on customer decision-making, it is essential to recognize the contribution of marketing efforts in influencing buyers' perception and driving demand. B2B buyers often start with limited knowledge about a product or solution, but through marketing strategies, such as thought leadership content, ads, webinars, and social media engagement, their awareness and understanding evolve. Marketers can create demand by triggering interest, educating customers, and providing solutions that address their pain points. It is important to measure the success of demand creation initiatives, focusing on metrics like engagement with content or events, lead generation, and buyer feedback, rather than traditional attribution models based solely on direct conversions.
Evaluating Connected TV as a Marketing Channel
Connected TV (CTV) is gaining significant traction as an advertising channel, and many companies are considering its potential benefits and challenges. CTV advertising requires a different approach compared to traditional digital ads. Marketers need to create captivating 15-second videos with strong messaging to drive action. The production and content quality requirements are higher, making it essential to prioritize creative excellence. Companies should also consider the different dynamics and measurements when using CTV for demand creation. It is crucial to align the metrics with specific goals, such as increased brand awareness, expanded audience reach, or driving specific conversions. Evaluating the effectiveness of CTV requires a different set of metrics, including engagement metrics, total impressions, assisted conversions, and potentially custom conversion mechanisms. Additionally, it is important to integrate CTV measurement into an overall advertising strategy and adapt measurement approaches as CTV advertising evolves.
Improving Outbound Marketing Effectiveness
Outbound marketing plays a significant role in driving pipeline and revenue, but its efficiency is often a challenge. Companies may struggle due to the lack of accurate data and inadequate measurement mechanisms. To optimize outbound marketing efforts, companies should focus on data governance and cleanup. Organizations need to have reliable data structures and measurement frameworks within their CRM systems to gain valuable insights for decision-making. Understanding the impact of outbound activities requires tracking and analyzing various signals that indicate buyer intent, such as account-level website activity, declared intent through demos or lead forms, event attendance, engagement with third-party content, and dark social interactions. By leveraging granular data and segmentation, companies can optimize outbound strategies, improve sales productivity, and achieve better ROI. Establishing clear metrics and regularly reviewing the effectiveness of outbound efforts will enable organizations to refine their strategies for long-term success.
The Importance of Data Governance in Marketing
Data governance is a critical aspect of marketing operations that is often overlooked. Many companies struggle with inconsistent and inaccurate data, leading to poor decision-making. Establishing robust data governance practices ensures data accuracy, reliability, and relevance. By centralizing data within the CRM system, organizations can optimize their go-to-market strategies and allocate resources effectively. Accurate data enables marketers to measure the impact of marketing initiatives accurately, such as pipeline generation, revenue attribution, and marketing ROI. It allows teams to segment data based on the source of leads and pipeline, providing insights into the performance of different channels, campaigns, or events. Data governance also helps in identifying areas for improvement, optimizing outbound marketing effectiveness, and aligning marketing activities with business objectives. Building a culture of data governance empowers organizations to make data-driven decisions and improve overall marketing performance.
Recognizing the Value of Thought Leadership and Brand Advertising
Thought leadership and brand advertising are two essential components of effective marketing strategies. Thought leadership ads focus on advertising individuals as experts in their respective fields, creating awareness and credibility within the target audience. These ads can drive engagement and validate the expertise and knowledge of the advertised person. On the other hand, brand ads focus on promoting the overall company brand, its values, and competitive advantages. These ads contribute to building brand recognition, trust, and attracting a wider audience. Both thought leadership and brand ads can play distinct roles in marketing efforts and should be leveraged strategically based on specific goals and target audience segments. Evaluating the impact and effectiveness of these ad formats requires considering relevant metrics, including engagement, brand recognition, sentiment analysis, and feedback from the intended audience.
In the second episode of the new series, Chris and guests explore contemporary topics in B2B marketing with a focus on demand creation strategies and the impact of connected TV advertising. Kicking off with a crucial clarification regarding demand creation and personal business matters, Chris sets the record straight on his integral role in Refine Labs and the fundamental existence of demand creation in marketing.
Following the introductory context, the discussion transitions into actionable marketing insights. Learn about the various triggers that initiate customer acquisition in the digital landscape, the nuanced approach to using advertising budgets, and the future trajectory of marketing media utilization. With a detailed exploration of connected TV as an emerging channel and a rebuttal to common misconceptions surrounding contemporary demand generation tactics, the episode offers a plethora of strategic advice catered to marketing professionals seeking to stay ahead of the curve.
Thanks to our friends at Hatch for producing this episode. Get unlimited podcast editing at www.hatch.fm
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
