In this special two-part blog, CEO, Jon Clarke, lifts the lid on Cyance’s journey so far – where it’s come from, where it’s heading to and how it’s firmly staying ahead of the curve with its pioneering predictive marketing platform, Nexus.
Today’s buyers can reportedly complete as much as 80% of their sales journey before contacting a supplier.
It’s stats like this that clearly demonstrate how buyer behaviour has dramatically changed in recent years, particularly due to the explosion of the internet. It’s also continuing to rapidly change.
But it’s not just buyer behaviour that’s changed over the years, we have too.
In the beginning…
For those of you who don’t know us, Cyance was established in 2007 as a data-focused B2B demand generation agency. We specialised in helping global technology and high-growth organisations acquire more customers and engage with their existing customers through the effective use of marketing data and intelligent multi-channel marketing campaigns.
That was then.
Understanding the future of marketing
About three years ago, we started to notice key changes occurring within the marketing sector. For instance, we could see marketing budgets constantly being squeezed and many marketing directors moving jobs on a regular basis. However, the root cause remained a mystery.
Being the highly insightful team that we are, we decided to delve a bit further into these changes to try and identify what was influencing these trends.
We soon discovered that many marketers were struggling to demonstrate their contribution to sales results, making it impossible to measure the impact and value of marketing. This also helps explain why marketing budgets are often the first to be reduced and why so many marketing directors tend to switch jobs every 18 months (IBM Global CMO Study).
Uncovering the right customers + early engagement = success
Two years ago, we recognised there was a widespread need to transform demand generation strategies in response to the major changes we’d witnessed in buying behaviour and throughout the marketing industry as a whole.
Historically, traditional marketing methods have relied upon mass marketing techniques, which involve consistently targeting enough people in the hope that statistically, you’ll hit enough people at a time when they have a need or are looking for a solution.
This approach is relatively expensive, resource hungry and makes it difficult to produce a strong return on investment. Your cost per lead is often under pressure, which can mean the quality is compromised in an attempt to reduce the cost of generating leads which, in turn, creates a negative perception of marketing within sales. Businesses also run the risk of damaging their brand reputation, if their marketing activity is perceived as spamming their audience with unwanted messages.
The key to being successful, is uncovering customers who are in the market for your products or services and engaging with them earlier in the buying cycle.
Introducing - Nexus
It’s these changes that spurred us on to develop Nexus, a predictive marketing platform that enables businesses to uncover their hidden customers.
Business’ customers are hidden in plain sight. They know they’re there, but predicting which customers are likely to buy next and who their next customer will be has been a difficult challenge – until now.
For details of how Nexus is transforming the future of marketing, which includes increasing our clients’ marketing results by up to 300% and generating sales growth by up to 50%, plus more on the Cyance story, read the second instalment of, ‘The Evolution of Marketing’.