Tag Archives: Linkedin

Repurpose Existing Content to Create PowerPoints, Videos and Reach More Customers

24 Apr

Wouldn’t it be great to have your own Content Marketing staff, a team of writers that could meet your every content need?  For the majority of us, there is no Content Marketing staff.  Content development most likely falls under someone in marketing that already has a full plate of responsibilities or maybe it’s outsourced. One way to effectively extend marketing resources and the value of content is to repurpose it in different mediums.

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Do the 4Ps Work in the B2B World??

17 Apr

Anyone who studied marketing knows the 4Ps.  Even those who didn’t can recite at least 3 of the 4; Product, Price, Place (a.k.a. Distribution) and Promotion.  The 4Ps were first talked about in 1960 by Jerome McCarthy and later published by one of the most famous marketing scholars, Philip Kotler in 1967.  Back in those days it was Mad Men, a consumer marketer’s dream.

 

For the last fifty years, these 4Ps have been ruling the marketing world but, business marketers have always been doing things differently than our consumer colleagues. The 4Ps model was never a good fit for B2B because business to business sales processes are complex, many are typically involved in the decision-making and products tend to be more sophisticated, very different from the consumer world.

Today, a lot is being written about finding better models for both consumer and business marketing. For B2B marketers, this is an opportunity to define a unique model that works and better fits business marketing than the traditional 4Ps. Why do we even need a model?  Models help marketers put context around the most common challenges we face and provide a framework to address complex business issues.

I recently came across a new model that was proposed by Solutions Insights a marketing consulting firm located in the Boston area. They provide consulting services promoting a customer-solutions focused business model. The model Solutions Insights proposes is appropriately named OVER; O = Offering, V = Value, E = Experience and R = Relationship.  

Below is Solutions Insights chart defining OVER and comparing it to the 4Ps:

Chart comparing the 4Ps marketing model to Solutions Insights' OVER model

Solutions Insights OVER model comparison to 4Ps

 I think it’s a pretty good one for B2B marketers. What do you think?

Resources:

The 4Ps Are Out, The 4 E’s Are In, by Brian Fetherstonhaugh, Ogilvy and Mather

The True 4Ps of Marketing for B2B CEOs, by Michelangelo Celli

Solutions Marketing:  The four Ps are OVER, by Solutions Insights

What March Madness Reminds Us About Business

3 Apr

The NCAA Men’s Basketball Tournament is over.  Like past tournaments, this year’s excitement and nail-biting game endings didn’t disappoint. March Madness is entertaining but, to be a winner it takes a combination of the right leadership, players, strategy and desire. Much like what it takes to succeed in business. Here are my top picks for winning on the court and in business.  Any others you’d include?

Basketball game, player shooting a basket

1.  The coach hires a staff that compliments his style and addresses areas where he is weakest.  The best leaders know they don’t know everything and find managers whose skills fill those gaps.

2.  The coach recruits players that believe in his vision and have the right mix of talent and skills to fill the position. The recruit may not be able to fill the position 100% on day one but, the coach sees the ability and desire for growth.

3. Everyone knows the contribution they make to the team and works together to achieve team goals.  There may be stand-out performers but, they recognize they can’t do it alone.  Winning requires every player on the team.  

4.  Individual performance is elevated because coaches focus on developing a player’s strengths.  After all, those strengths are the reason he was recruited.  

5.  Practice, practice, and then practice some more.  I worked for someone who told me that he always over prepared because there was nothing worse than finding yourself in front of an important customer or your boss under prepared. He anticipated questions, objections and various scenarios and prepared responses for them.

6.  Play Your Game with Flawless Execution.  Play to your strengths and what you do best.  If you’ve prepared, your execution will be flawless.

7.  Believe You’re a Winner.  If you believe in yourself, your talents and that you can win, you will do everything in your power to make that a reality.

8.  It Ain’t Over Until It’s Over.  How many times has a team come back from a ten point half-time deficit to win the game.  Too many to count. Fight the battle.  Don’t throw the towel in before the game is over.

Aligning Marketing Programs with the Sales Cycle – How Great Marketers Measure Their Performance

27 Mar

With the end of a quarter upon us, functional departments are pulling together performance results to present to their CEO and CFO. For marketing, it has long been a struggle to show how marketing programs have resulted in growth of revenues and profits.  When asked how a specific marketing program, activity or campaign affected sales, marketers are quickly put on the defensive. Add to that, many marketers don’t see their role as revenue generating. Marketing programs may not be tied directly to an organization’s objectives and goals and therefore their impact on sales and profits is not measurable.  As a result, leadership views marketing as a cost center. Eventually, this thinking can lead to cuts in marketing’s budget and in personnel when the company needs to make improvements to its bottom line.

Bar chart showing sales growth

How to Be a Great Marketer in the Eyes of the CEO and CFO

It isn’t enough to show charts and graphs of how many more visitors viewed a website in a month, or downloaded a new white paper or dropped their card in a bowl at a trade show. A better way to measure marketing performance is to measure its impact on buying behavior during the sales cycle. When measuring performance, marketing must determine whether their activities resulted in moving a prospective customer closer to becoming a buying customer.

B2B sales cycles are typically more complex than B2C cycles. More decision makers are involved in the buying process and from initial contact to actual purchase the cycle itself is longer.  Different marketing programs touch customers at various stages during the sales cycle, making it difficult and even inaccurate to credit a single marketing activity as being responsible for the buyer’s decision to purchase. For this reason, marketing needs to look at its programs, activities and campaigns holistically and measure the impact each has on moving the prospect into the next stage of the sales cycle.

Where Do You Start?

Begin by understanding your company’s sales cycle and gain a clear understanding of what your prospective buyer needs at each stage. Look at your current marketing programs and activities. These should map to the prospective buyers’ needs at each of the stages in the sales cycle. If they don’t, consider whether these activities are contributing to your organization’s objectives. If not,  drop them from your marketing plan. You may need to consider new activities that better align with your company’s objectives, sales cycle and prospective buyers’ needs.

Next, assign values to each program based on the importance of the desired outcome along the sales cycle. Certain activities are tied to more critical outcomes and therefore should be given a higher value. You now have metrics to measure and can evaluate how effective a marketing program or activity was at eliciting the desired outcome in the sales cycle and if they contributed to generating additional sales.

Is the Marketing Program Profitable? 

Once you have measured and quantified how these activities contributed to generating revenues you must determine if they did so profitably.  Calculate the ROI.  Start with a simple P/L statement.

  1. On the Revenue side, include the dollar contributions that the program made to sales and multiply this number by your average gross margin to calculate the gross profit from marketing’s contributions to sales.
  2. On the expense side, total all marketing program expenses and include staff time and any other resources that contributed directly to the program.
  3. Subtract the total program expenses from the gross profit to determine the ROI of the program.

For more details, download the ebook, Definitive Guide to Marketing Metrics and Analytics, by Marketo which provides excellent real business examples for calculating Marketing ROI.

Be a Revenue and Profit Generator

With the start of a new quarter, now is a good time to review your marketing programs and goals.  Consider if these line up with your organization’s overall objectives.  Determine if you have the right metrics in place to measure effectiveness and impact during the sales cycle. Choose the tools to measure results. Decide how often to measure and adjust your activities.

When marketers develop programs that align with prospective buyers’ needs during the sales cycle, measure program effectiveness (incremental sales contribution) and calculate program profitability (ROI), it demonstrates to leadership that marketing is a contributor to the growth of the organization and not just another cost center.

Resources:

Definitive Guide to Marketing Metrics and Analytics, Marketo (ebook)
Digital Body Language, Chapter 9, Can you Finally Measure Marketing Effectiveness? by Steven Woods, eloqua ebook 


Are You Watching Social Media from the Sideline?

20 Mar

American football field at the 50-yard line.Many companies have Social Media strategies and plans in place.  Many still don’t. And it isn’t only small businesses. Even some large companies don’t have Social Media in their marketing play books. Social Media is the great unknown and risky unchartered waters for many businesses. They avoid any efforts to develop a program, instead watching Social Media from the sideline.  If this describes how Social Media is viewed at your company, maybe it’s time to learn to crawl before you run.

Consider trying one Social Media platform first.  Don’t wait to develop a comprehensive Social Media strategy and campaign. Having said that, it is important to have goals in mind and what you’d like to accomplish.  An initial goal may be as simple as creating a Twitter account and following leaders or competitors in your industry everyday for the next three months. Remember that your actions should be consistent with your brand and target audience messaging, no matter how high of a level you decide to initially participate in Social Media.

The Best Platform for a B2B to Start Social Media Activities

If you are a B2B, LinkedIn is a great choice to test the Social Media waters. This is the professional business networking platform.

Start by completing a LinkedIn Company Profile page.  You can add information, accessible to all LinkedIn’s 150 million members, about your organization including your logo, products and services, current promotions and job openings .  With a company page, once you have followers you can start a conversation and engage with them. LinkedIn members follow what matters to them professionally and to their business.

Next, build your company’s LinkedIn presence by identifying members within your company to join industry groups related to your business like customers’, partners’ and competitors’ groups.  Being a part of these groups is really where your business can benefit.  If this is a first time participating in a group, take some time to listen and get a pulse on the conversations of the group.  Establish your authority and expertise in these groups by becoming an active participant sharing useful information and starting discussions with the group. Another benefit of participating in groups is the opportunity to hear what customers are thinking about your product, your competitors and what is trending in the industry.

Increase your LinkedIn presence further by creating your own industry group. I like the HP and Intel group, Small Biz Nation that features good discussions on relevant topics for small businesses like the discussion on Techniques to Stay Connected to Your Customers. Another group I like is the American Express Business Knowledge Share with discussion topics ranging from Social Media and online marketing tips to How Participating in LinkedIn Groups Can Help Your Business.

The costs of not participating in Social Media are too great.  You don’t have to watch Social Media from the sideline.  Pick a platform and get started.

Get Unstuck and Seize the Opportunity

13 Mar

One of the problems that we all face from time to time is getting stuck.  We may get stuck for different reasons but when we are stuck, we have closed our minds and our ability to be open to change.  The cost is missed opportunities.  

Woman with Arms in Air upwards towards the sky/sunAt one time in my career, I was a data security product marketing manager and made the mistake of being stuck in a belief.  It was very early on in the data security market, (late 90’s), and we were marketing enterprise-grade security firewalls.  These firewalls were designed for large networks, expensive and required technical expertise to implement and manage.  This worked fine for large enterprises but, not for small/medium size businesses (SMBs).  Back then SMBs were the next big growth market for data security products.

Taking the advice of very knowledgeable security gurus, I wasn’t willing to compromise the level of security that large firewalls provided in order to move down market.  I was stuck in the belief that the new firewall designed for SMBs would not provide adequate security.  The truth was that the new firewall did provide good security and SMBs needed a security solution.  The large, expensive, complex enterprise firewall was not it.  Fortunately, after many heated discussions with those in favor of the new firewall, we included it in our security offering. It wasn’t enterprise grade but, it met the needs of the SMBs on price, technical simplicity and security.  The small firewall was a successful addition to our product offering.

Many times, you don’t even realize you are stuck in a belief or idea that is keeping you from seeing an opportunity clearly.  We need to remind ourselves often to remain open to new ideas, not be too quick to judge them and allow them the time to be considered so we don’t miss out on those opportunities for growth.

How to Create Your Brand Page on Facebook’s New Timeline

5 Mar

On March 30th, Facebook’s New Timeline will go live for all Brand pages, whether or not your company has updated its page.  Take this opportunity to create an engaging page for your brand over the weeks ahead. There are several changes you need to be aware of for your brand page. Below is a handy guide from hearsay social on what you need to know to create a brand page and links to blogs that cover the changes.  Make sure you review the blog by TechCrunch’s Josh Constine.  It’s thorough. For additional information and help go to the Facebook Help Center.

Here are a few key changes worth highlighting:

1.  Cover Photo – The cover photo takes up a large amount of space spanning the entire page.  Here you should choose a photo that supports your brand.  It is important to know that Facebook Covers may not display calls to action or references to Facebook Like or sales promotions, pricing or website URLs.

2.  Left Side Navigation – The navigation for page apps has moved to the right and below the cover photo with thumbnail photos above the text link.  Four of these apps are above the fold and one is default for Photos.  So, three of these four you can choice your apps. Pick your most important three. Unfortunately, this limits visibility for custom apps; contests, promotions, coupons, games, etc. since the default landing page for all users will be the Timeline page.  Users will need to click through to find additional apps.

3.  Messages – Messages can now be sent privately by users vs. posting on the public wall for all to see.  This can be a benefit if you don’t want certain comments visible.  You’ll need to determine a process internally to actively and timely respond to the Messages.  For some businesses, this may create a burden.  Try testing it for a few weeks to monitor the number of messages sent and your organization’s ability to manage it.

4.  Timeline Bar – To the right of the cover photo is a new timeline bar that allows users to view a brand’s history over the years.  It’s a great opportunity to highlight your favorite posts by you and your fans.

5.  Pinning – This feature will allow you to pin an important feature story, promotion or event and post it at the top of the timeline for seven days.

6.  Star a Story – You can also star a post to grab attention and highlight a story on your timeline.  When you star a story, it will expand the full width of the page.

Cover of Facebook ebook by hearsay social

The New Facebook Pages Brand Timeline by hearsay social.

Resources:

Introducing New Facebook Pages, Facebook website
Learn About Facebook Pages, Facebook video
How to Use Facebook Timeline for Brand Pages: New Feature Details, Josh Constine, Technology Writer, TechCrunch
Timeline for Brands:  How to Prepare for Your Company’s New Facebook Page, Jim Belosic, CEO Short Stack on Mashable
Facebook Timeline for Brands, the Complete Guide,  Christine Erikson on Mashable

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