05 Dec PESO and customer engagement
Learn how PESO can drive customer engagement
The business world we inhabit is changing – and fast!
In 1965, Gordon Moore one of the founders of Intel predicted that the power of computer devices would double every two years, while falling in cost – a prediction that became known as Moore’s Law. Yet I suspect that not even Moore anticipated just how fast developments in technology would drive change in society and human behaviour.
Although this is most obvious in the consumer space, the same upheaval is occurring in the world of B2B. Today, our customers have access to increasing volumes of data and use more channels than ever before to inform and guide buying decisions. This is changing buying patterns and the way in which companies find potential partners or business solutions.
In recent surveys, management consultants CEB found that, ‘57% of the purchase decision is completed online before a customer even calls a supplier’, while Forrester reports, ‘74% of business buyers conduct more than half of their research online before making an offline purchase’. Perhaps most worryingly, McKinsey has found that, ‘Two thirds of B2B deals are lost before a formal RFP process even begins’
This situation is only going to get worse as the volume of data and numbers of channels grows.
Although many B2B companies are struggling to adapt to this new dynamic, a growing number are beginning to adopt strategies to cut through the online noise, most notably using content as a tool to create differentiation and stimulate interest from customers as they progress along the journey from awareness to RFP – to take them to the 57% mark.
Content is, however, only part of the story. Content for content’s sake, or which has been produced in isolation is largely wasted. What is needed is an effective plan to extract maximum value from each content asset, often using traditional marketing tools and channels as vehicles for promotion.
A useful approach to this process is to use the PESO model: Paid, Earned, Shared and Owned. This offers a simple means of structuring each content campaign. Used with appropriate metrics and analytics it can also make it much simple to demonstrate the ROI.
We’ve recently published our latest white paper – How To Connect With Your Customers – that explains the challenges of digital noise and how to adapt the PESO model in the B2B space.
To download your copy please click here.