MARKETING OPPORTUNITIES FOR IOT COMPANIES 1 www.ironpaper.

com

Marketing
Opportunities for
B2B IoT Companies
A comprehensive guide on the opportunities,
challenges, and best practices for IoT solution
providers in the B2B space.
 MARKETING OPPORTUNITIES FOR IOT COMPANIES 2
Introduction
50 billion devices will be connected to the Internet of Things by 2020,
compared to 15 billion today. Cisco
The Internet of Things is reshaping and defining markets,
so much so that it has been dubbed the next Industrial
Revolution. And the IoT has the power to change the way
we live, work, travel, and communicate.
For businesses who harness this revolution first, they can
reap a first-mover advantage in their respective markets.
IoT incremental revenue will exceed
$300 billion by 2020. Gartner
What else will happen for IoT by the year 2020? Across
markets, technology will change rapidly. In the auto
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sector, more than 250 million cars will be connected
globally. Local governments will expand smart asset
management, especially as Google vies to invest in
smart city infrastructure. And IDC estimates the IoT
solutions market value will reach $7.1 trillion in 2020.
But with the enormous growth of connected devices
and things comes new challenges: Like security, privacy,
network implementation, and standardization.
So, what does this mean for IoT marketers? This radical
shift brings vast new opportunities if marketers can
overcome never-before-seen challenges for their buyers.
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51% of the worlds top global

marketers expect that IoT will
revolutionize the marketing
landscape by 2020.

Marketo
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Marketing Challenges for the IoT Buyer

88 percent of business leaders are overwhelmed by the IoTs impacts on their
business models, and its long-term implications. World Economic Forum

The Internet of Things is so transformative that, like all
paradigm shifts, marketing it comes with challenges.
Specifically, marketers must answer these questions in
order to reach buyers: How do we build trust and demand
for a disruptive industry? How do we educate buyers and
showcase the value of IoT solutions vs. cost? How do we
overcome concerns about security, privacy, and reliability?
How do we compete in an arena with fluctuation?
Marketers have a pivotal role in solving these IoT-specific
challenges, specifically those covered in this guide.
Marketing challenges specific to IoT buyers:
Defining value proposition. Projects are costly, so
buyers wonder: Why invest? Therefore, marketers must
clearly present opportunities that can be unlocked, and
show how their services will bring real value to buyers.
Overcoming the education curve: In the emerging IoT
space, stakeholders have varying familiarity with IoT
systems, impacts, and risks. Technical buyers have
a deep understanding of IoT, but may not necessarily
possess decision-making powers. Meanwhile,
 MARKETING OPPORTUNITIES FOR IOT COMPANIES 5
decision-makers will need to grasp the value of
IoT solutions, but might lack technical IoT literacy.
Therefore, IoT implementation requires collaboration
between these very different roles. So marketers
must find ways to speak appropriately to different
stakeholders, preparing several roles for the sale.
Establishing trust: Security is a top concern for
IoT consumers. So to seal the deal on a large IoT
investment, the buyer must be assured, nurtured, and
educated about secure protocols and possible risks.
Creating touch points for a long sales cycle: Across
B2B industries, the sales cycle has grown 22% longer,
according to SiriusDecisions. Because of the IoT
learning curve and other hesitations, IoT marketers
can expect an even longer cycle: Buyers expect more
touch points and content to drive the sales process.
Consequently, sales teams need better tools, insights,
and content to push deals forward.
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Building ongoing relationships: IoT partnerships are
long-term investments. The market is shifting from
products towards services, so the sales process must
play a deeper role in providing education and context.
As protocols change and standardize, buyers will need
the guidance of their IoT providers. And they expect IoT
partners to maintain relationships with them before,
during, and after the sale, to equip them for the future.
Making data meaningful, reliable: Data analysis is
crucial to IoT systems, so buyers need to see the
most important data points visualized and gamified
in order to better understand benefits or outcomes.
Additionally, they must know that data is accurate and
reliable. Therefore, marketers must understand the
value of data for an enterprise and be well-versed in
big data solutions.
Reaching multiple decision makers: Most B2B IoT
projects have multiple decision-makers who influence
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the buying process. The connectivity associated with

the Internet of Things can further complicate an already
complicated sales journey.

Designing for clarity, specifically focusing on key

stakeholders: There is more complexity in the decision
process because the tech and service stack is naturally
complex. IoT projects may involve multiple decision
makers, partners, solutions, and services that play
an influential role. Companies must invest more in
educating and inspiring stakeholders throughout the
marketing to sales funnel.

In this eBook, well show you inbound marketing

opportunities, tools, and tips that will help close the
gap on these IoT buyer problems.
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33% of survey respondents

say that security concerns
are a major factor slowing
their IoT adoption.

FC Business Intelligence
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Inbound Methodology and the IoT

No marketing method is more apt to solve IoT challenges than the content-
driven inbound marketing and sales methodology adapted here for IoT.

Attract Convert Nurture Close

Prospects Qualified Customers

Bring in visitors who Utilize content strategies to capture an Offer helpful content
are searching for IoT buyers information. Gradually nurture and support to close
information with contacts into business leads with trust- deals and educate
targeted content that building, informative content touches. Over buyers, laying the
explores IoT solutions time, close wary or unready prospects into foundations for a
and capabilities. enthusiastic and knowledgeable sales leads. strong partnership.
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Inbound Methods for IoT Marketers

In this eBook, we will uncover ways in which IoT Inbound tactics covered in this eBook:
marketers can utilize inbound principles to attract,
convert, nurture, and close IoT leads into customers. 1. Educational content through the funnel

Well also emphasize the steps to aid decision-making 2. Value proposition

for each IoT buyers role or persona. And finally, well
show you how technology and a well-trained team can 3. Demand generation
set you up for growth.
4. Lead nurturing strategies
Throughout, youll find plenty of statistics and trends
to give you context for achieving IoT success. 5. Data and segmentation

6. Marketing and sales alignment

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1. Educational Content Through the Funnel

55% of respondents in the insurance industry say that understanding the
technology is the top challenge to adopting IoT solutions.

This is followed by concerns about legacy systems (39%)
and security (33%), according to FC Business Intelligence.
As a result, content marketing is incredibly vital to
answering IoT hesitations. Content could include many
formats: guides, white papers, information graphics, data
visuals, webinars, and videos.
67% of the B2B buyers journey is now
done digitally, and 90% of B2B buyers say
online content has a moderate to major
effect on their purchases. Lenati
Generally, buyers will trust the provider who educates
them first. So early-stage content will help buyers
understand the benefits and value of IoT. Content must
answer the reason why they must invest in your IoT
solution. Inspiration can be a valuable approach.
However, content isnt just for attracting new leads with
well-designed eBooks and helpful blog posts. Content
continues to be important through the entire funnel. As a
deal moves through the sales process, more stakeholders
may get involved. Content can help inform, inspire, and
educate these new influencers when in-person sales
conversations are unavailable.
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According to technology writer Margaret Rouse, A major
concern surrounding the Industrial IoT is interoperability
between devices and machines that use different
protocols and have different architectures. Therefore,
as the buying process continues, content must answer
concerns about integrations with legacy systems.
Finally, during the close stage, content should make
a vendor comparison and explain the implementation
process and associated costs, risks, and benefits.
CONTENT TYPES GOAL

eBooks
Additionally, in the nurture stage, content should furnish Attract IoT buyers
Attract Blog posts
(via SEO, paid ads,
prospects with a clear understanding of solutions that White papers social media, etc.)
reinstate the value and pain points established prior. Information graphics with optimized and
As the buyer moves towards the decision stage, provide educational content.
Videos/Webinars
prospects more proof, context, expertise, and evidence
to support sales conversations. eBooks Convert visitors
Convert/ Case studies into leads with lead
80% of business decision-makers prefer capture forms, then
company information in a series of
Nurture Spec sheets
build trust and
Reviews/ rapport over time.
articles versus an ad. Stratabeat testimonials

Moreover, marketers need to help buyers understand Pricing information Address any final
hesitations to
how your IoT solution fits into the larger technology Close eBooks
purchase and educate
stack. Can this be visualized into a graphic? Condensed Comparison charts sales-ready leads.
into a blog post? Explained through a video?
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2. Value Proposition
55% of respondents expect an IoT solution to improve efficiency with
operations management, according to The Innovation Group.

How will you convince buyers that your solution is 44% of B2B marketers use video case
not only feasible, but inspirational and valuable? studies. MarketingCharts, Regalix

Your value proposition is incredibly important. It shouldnt

focus on features. Instead, focus on a core pain point for
your buyers. Research, interview, and A/B-test messaging
on your buyers to ensure that youll resonate.

Will you focus on security, efficiency, profitability?

No matter which pain point you own, you should
offer exemplary case studies in your content stack.
Furthermore, try graphics, web apps, gamifications, and
video to show whats possible with an IoT revolution.

Nokia uses this interactive graphic (right) to visualize

the far-reaching benefits of IoT solutions.
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3. Demand Generation
Demand generation driving awareness and interest in your products or
services is vital to an emerging industry like the Internet of Things.

As with most disruptive technologies, buyers are
largely unaware of the benefits of IoT. But solid demand
generation strategies can close this gap.
To bring results quickly, try these strategies:
Companies who can simplify complex ideas will have a
clear advantage to attract and educate IoT buyers. For
example, we gamified a static content page for MyCheck.
By letting users customize a solution instead of reading
about customization, we dramatically grew conversions.

Use tightly targeted paid advertisements to push out

a high-quality content offer or resource

Build relationships with key influencers (trade

publications, content networks, associations, editorial)

Bolster your organic search strategy to begin

ranking for key terms
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It can take 7-13 touches

to generate a viable sales
lead, and IoT buyers are
likely to require more.
Online Marketing Institute
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4. Lead Nurturing Strategies

For high-touch sales cycles which are growing longer across all B2B
industries lead nurturing is key.

So once youve attracted new IoT contacts, your job with afraid that their IoT devices will be hacked, according
lead nurturing only just begins. Particularly for IoT, CMOs to ISACA. Lead nurturing, therefore, should address this
must build a robust nurturing plan that educates buyers. concern and others specific to your product or service.

Lead nurturing must educate as well as assure. For Nurtured leads make 47% larger
example, 63% of respondents are somewhat or very purchases. The Annuitas Group

CTA CLICKS CAN

ALTER SEQUENCE

FIRST-TIME CONTACTS Welcome email Email with addi- Targeted email Triggered email
or follow-up after tional security related to recent when viewing
LEAD NURTURING content download resource video, page view/content pricing page to
SEQUENCE article, eBook, etc. engagement set up demo
 MARKETING OPPORTUNITIES FOR IOT COMPANIES 16
However, technology limitations are often a barrier to
effective nurturing:
54% of marketers say that IT bottlenecks
prevent them from seeing a holistic
view of the buyers journey. IBM and
Econsultancy.
Thats why marketing automation, such as HubSpot, is
so vital to an IoT strategy. In fact, 6 out of 10 survey
respondents who use marketing automation say it has
increased the quantity AND quality of the leads that get
passed to sales, according to the Lenskold Group.
Lead nurturing projects are best when they are
automated, so automation tools will be crucial.
For example, with a software like HubSpot, you can set
up automated email workflows to send responses after
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a particular download or web page visit, which include a
consequent call-to-action and prompt further action.
Furthermore, you can use progressive profiling to
gradually gather new lead information without being
overwhelming. This tool dishes up new form fields after
previous ones are answered. Progressive profiling lowers
the first barrier to entry a long form becomes shorter
while giving you meaningful lead intelligence over time.
You can also invest in smart personalization, an
automation strategy that lets you adjust your website
content based on a leads specific role (CEO, CIO, CTO,
etc.), interest, or previous action taken. Relevancy is a
dramatically successful conversion strategy.
These strategies will deliver meaningful resources to
leads eBooks, white papers, case studies, and video
content while maintaining a relevant experience.
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5. Data and Segmentation

Data is plentiful in the Internet of Things. How will you present data clearly,
and use analytics to your advantage?

Marketers are expected to spend over 11% of their total
budget on analytics, according to CMOSurvey and HBR.
As an IoT marketer, you should use analytics tools to
track metrics that matter to product and business growth.
Growth metrics include:
To manage a full-funnel analytics campaign, you will likely
need an analytics investment. Automation software like
HubSpot tracks leads on an individual level. So when
paired with data from Google Analytics and the Google
Data Studio, these tools can help manage conversion
pathways through your buyer lifecycle.

Leads generated from marketing efforts
Quality of leads from inbound campaigns
Conversion rates throughout the sales funnel
Leads closing into sales opportunities/customers
Furthermore, you should also use data-driven insights
about your IoT leads to guide segmentation.
According to MailChimp, segmented
campaigns drive over 100% more clicks
globally than non-segmented email
campaigns.
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To segment your campaigns, you must first segment

your leads. This is only possible with data gathering and Technical buyers Non-technical
decision makers
analysis, made much easier with marketing automation
software (or a partnership with a data-driven agency.)

Using data, answer these questions: Onboarding email

Which of my lead segments is a decision-maker?

Huh? This isnt
what I care about
delete.
Which leads are business buyers versus technologists? Technical
white paper

What questions and hesitations do specific buyer

segments have? Irrelevant delete.

Article: CMOs
What level of IoT complexity will particular segments Guide to IoT
understand and where do they need more education? Solutions

I dont know
Then, send targeted campaigns to build trust and educate This content
enough about IoT
doesnt apply to
yet to engage.
segments of your database. (This chart at right shows me unsubscribe.
Unsubscribe.
Pricing
the impact of non-segmented campaigns and the chart
importance of segmenting to several target audiences.)
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6. Marketing and Sales Alignment

59% of marketers say that a siloed organization structure is preventing them
from understanding the full buyers journey. IBM and Econsultancy

As you nurture leads with marketing, make sure that With an alignment, companies see 36%
they receive a clear sales follow-up. Dont let leads feel higher customer retention and 38%
a disconnect when they talk to sales reps, or find that higher sales win rates. TAS Group
messaging is disparate between the two teams.
Sales teams who follow inbound sales and partner with
Marketers and sales teams should develop cohesive CMOs will close more IoT customers with better deals.
content together sales guides, demo presentations,
nurturing materials, vendor comparisons, and fact sheets.
Setting qualified
lead definition
Also, marketing and sales teams must share lead
intelligence, such as: Which marketing tactics deliver Marketing Content creation
for nurturing
Sales
good sales leads? What concerns do sales leads have
Intel on lead pain
that marketing content could address? How can we points
nurture leads during and even after the sales process?
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65% of sales reps say they

cant find content to send to
prospects, representing the
most common complaint
cited by sales teams.
KaPost
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Technology Opportunities for IoT Marketers

IoT marketers will be the most effective when they utilize technology.

Here are several ways that technology and tools can
inform many aspects of marketing and growth.
Lead nurturing & marketing strategy
Software is constantly evolving and improving, giving
marketers access to more data than ever before. And
marketers who analyze and use this data in campaigns
will distinguish themselves from the competition.
Programs like HubSpot or Marketo will help you analyze
the interests and actions of your IoT leads, send
segmented responses, qualify prospects, and
identify sales opportunities to nurture.
This data lets you focus on measurable growth,
not assumptions or tired best practices. And SaaS
investments can also grow sales, by improving the
feedback loop between marketing and sales teams.
Marketing automation and sales enablement tools/CRMs
such as the HubSpot marketing and sales stack are
vital to a results-driven IoT marketing strategy.
Demand for innovation
Technology can generate demand for innovative
solutions. So consider new ways to showcase your
solutions beyond traditional written materials.
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For example, can you gamify your service online with
some kind of interactive experience? Is there opportunity
for a web application that demonstrates your solution?
Can you use virtual reality to showcase real-world
applications of your software or service?
IoT marketers must continually stay up-
to-date on new, innovative technologies
that can help them cater to buyers.

Smarter, more relevant advertising

Consumers expect personalized experiences in both

advertising and marketing. Luckily, new technologies have
arisen to help meet this demand such as increasing
interconnectivity of Googles advertising platforms across
YouTube, Google search, Analytics, AdWords, and more.

Through big data and machine learning, both advertisers

and marketers can give consumers personalized offerings
along the sales funnel.
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6 Marketing Skills Needed for the IoT Age

In order to offer an IoT marketing strategy to clients, businesses must build a
team that possesses modern inbound marketing skills.

Six critical skills to include in your team:
Technology-savvy and interested in staying up-to-
date with tech trends: IoT technologies continually
fluctuate, so marketers should stay on top of the latest
news and trends. Someone who enjoys the tech world
will be much better suited to market IoT products.
Analytics-driven: Analytics are an integral part of any
marketing campaign, but someone who can make
data-driven decisions will be especially valuable in
IoT marketing. This person might be hard to find, as
84% of marketers cannot measure and report on the
contribution of their programs to the business; But
an analytical thinker will be a significant player on
the team. Using analytics instead of assumptions is
necessary to improve campaigns with data.
Skilled in content: Good copywriting is important
to IoT marketing campaigns, since buyers will need
to understand all aspects of the product accurately,
especially how your solution fits into the greater
IoT stack. Therefore, a candidate who can explain
a product and its value proposition with appealing
content creation will make a strong team member.
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Experienced with buyer persona research and It may be difficult to find just one marketer who
targeting: IoT buyers fall in several key segments, possesses all of these skills.
so a marketer must dive in, research, and speak the
language of your buyer personas. But CMOs should ensure that they have a
leader for each of these six skills on their
Familiar with automation: Marketing automation team, which all play a tremendous role in
drives a 14.5% increase in sales productivity and a a successful IoT marketing strategy.
12.2% reduction in marketing overhead. Therefore, a
candidate who knows HubSpot or a similar software
will be irreplaceable. Specifically, youll need to
craft nurture workflows, personalize based on role
and decision stage of the buyer, analyze reporting
dashboards, plan cross-channel content strategies,
and track CRM leads.

Well-educated on IoT offerings: Marketers must

understand the IoT tech stack and service needs.
Experience in this industry or a readiness to learn
quickly is critical.
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Conclusion
The Internet of Things has amazing growth potential across sectors, and
savvy marketers will capitalize by telling a new story of value.

IoT marketers must respond to buyer
challenges, including:
The need for a strong value proposition
A steep education and adoption curve
Fears about security and privacy
The best IoT marketers will use the inbound methodology
and targeted content to reach and nurture buyer
segments. Multimedia will bolster effective strategies,
and marketers should use web apps, data simulations,
and gamifications to compel buyers.
Moreover, marketers who capitalize on technology trends
and possess major IoT marketing skills will excel.

Longer sales cycles

DOWNLOAD MARKETING TRENDS
More complex technology stacks
FOR B2B TECH COMPANIES
Data and analytics demands
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Sources
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FC Business Intelligence https://www.statista.com/statistics/486156/challenges-of-internet-of-things-adoption-insurance-companies-usa/

The Innovation Group https://www.statista.com/statistics/680364/firms-expectations-within-iot-projects-by-category-in-italy/

ISACA https://www.statista.com/statistics/589269/concern-on-internet-of-things-iot-devices-being-hacked-in-the-uk/

SiriusDecisions via Protocol 80, Inc. https://www.protocol80.com/blog/21-lead-nurturing-statistics-that-show-the-power-of-marketing-automation-and-workflows

Annuitas Group via Protocol 80, Inc. https://www.protocol80.com/blog/21-lead-nurturing-statistics-that-show-the-power-of-marketing-automation-and-workflows

Lenskold Group http://www.lenskold.com/content/landing_2012_B2b_Lead_Generation_Marketing_ROI

Stratabeat https://stratabeat.com/roi-of-blogging/

Lenati http://www.lenati.com/blog/2015/09/the-death-of-the-sales-funnel-infographic/?utm_content=buffer01f6b&utm_medium=social&utm_source=Webbiquity.com

MarketingCharts; Regalix https://www.statista.com/statistics/622023/leading-types-of-videos-used-b2b-marketers-worldwide/

CMOSurvey.org/HBR.org https://hbr.org/2015/11/quantifying-the-impact-of-marketing-analytics

The TAS Group via HubSpot https://blog.hubspot.com/sales/stats-that-prove-the-power-of-smarketing-slideshare

Search Engine Journal https://www.searchenginejournal.com/the-power-of-social%C2%A0proof/21896/

Teradata http://applications.teradata.com/DDM-Survey/ThankYou/dea0eed1-5c9e-403d-846b-69e9050e7e86.ashx

Byte Technology http://byte-technology.com/blog/the-numbers-game-understanding-the-statistics-for-non-profit-giving/

MailChimp https://mailchimp.com/resources/research/effects-of-list-segmentation-on-email-marketing-stats/

Regalix (Source: https://www.hubspot.com/marketing-statistics)

Kapost http://marketeer.kapost.com/sales-marketing-alignment-stats/