b2b marketing

what three social media platforms are most effective for B2B distributing content in 2016
linkedin, twitter, youtube
the marketing goods and services to other companies, government agencies, institutions, resellers in order to produce their products and or facilitate or support operations
B2B marketing
why b2b marketing is different than b2c
buyer-seller relationships, decision making – single person in b2c vs coalition sale of multiple people in b2b, different marketing tactics, greater web integration, unique promotional strategies (consumption and knowledge of customer’s customers)
b2b vs b2c marketing tactics
b2b – products (can be technically complex and not for personal use) place (shorter, more direct channels) price (complex purchasing or competitive bidding) promotion (emphasis on personal selling)
b2c – products (offer standardized, for personal use) place (more indirect channels) price usually list or predetermined) promotion (emphasis on advertising)
buyer seller relationships in b2b vs b2c
b2b – technical expertise important, significant interpersonal relationships, stable, long term relationships encourage loyalty, purchase based more on logic – focus on info and features to save money, time or resources
b2c – less technical expertise, more nonpersonal relationships, changing short term relationships encourage switching, purchase based more on emotion – focus on benefits and how it helps them
b2b differences vs b2c
more qualitative, complex decision making, products and applications, business buyers – rational and logic, smaller number of customers and large consumption, personal relationship critical, consumer markets drive innovation more, consumers markets rely more on packaging
b2b characteristics vs b2c
fewer larger buyers, closer supplier- customer relationships, professional purchasing,more/multiple buying influences, longer sales calls/cycle, geographically concentrated buyers, demand differences
deepen customer relationships and website development
69%
raise brand awareness and website development
80%
strengthen thought leaderships and website development
79%
develop brand positioning and website development
85%
deepen customer relationships and email
60%
raise brand awareness and email
63%
strengthen thought leaderships and email
65%
develop brand positioning and email
69%
deepen customer relationship and social media
54%
raise brand awareness and social media
88%
strength thought leadership and social media
91%
develop brand positioning and social media
75%
deepen customer relationships and online video
69%
raise brand awareness and online video
61%
strengthen thought leadership and online video
70%
develop brand positioning and online video
68%
deepen customer relationships and mobile apps
24%
raise brand awareness and mobile apps
18%
strengthen thought leadership and mobile apps
26%
develop brand positioning and mobile apps
25%
business good demand is ultimately derived from consumer good demand
derived demand
not much affected by price changes
inelastic demand
demand for business goods and services tends to be more volatile than demand for consumer goods and services
fluctuating demand
what techniques are most effective and least effective in b2b to depend customer relationships, increase brand awareness, strengthen thought leadership and develop brand positioning
most effective – social media and strengthening thought leadership
least effective – raising brand awareness and mobile apps
a marketing technique of creating and distributing relevant and valuable content to attract, acquire and engage a clearly defined and understood target audience with the objective of driving profitable customer action
content marketing
different forms of content
articles, blogs, case studies, digital newsletters, ebooks, email, images, infographics, microsites, mobile content, news releases, pdf, podcast, research, slide shows, social, video, white papers
TOMA stands for
top of the mind awareness
CTA stands for
call to action
simply about becoming an authority on relevant topics by delivering the answers to the biggest questions on the minds of your target audience
thought leaders
visually describes the sales process from initial contact to final sale
sales funnel
4 types of content
viral, vanity, conversational and convictional
top 3 goals of content marketing
lead generation, thought leadership/market education and brand awareness
the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate and choose among alternative brands and suppliers
organizational buying
characteristics of organizational/business buyer-seller relationships
environmental factors, market factors, organizational factors, individual factors, relationship factors, reducing risk – social performance and financial, value creation
a set of characteristics that describe prospects whom are most likely to spend money on your product or service
firmographics
6 roles in buying center
decision maker, gatekeeper, influencer, recommender, initiator and controller
reports that fax keeps breaking down
initiator
sets budget for purchase of new fax
controller
gather info from vendors
gatekeepers
view demonstrations narrow choices
influencers
recommends a product to decision maker
recommender
selects fax to purchase
decision maker
complete buying process: emphasizes product definition and specifications
new task
shop around: emphasizes supplier search and evaluation
modified rebuy
repeat order: emphasizes need recognition and purchase
straight rebuy
a type of marketing characterized by prospects and customers seeking out and finding companies rather than vice versa
inbound marketing
the traditional form of marketing where a company initiates the conversation and sends it message out to an audience. examples: tradeshows, tv commercials, radio commercials, print ads, cold calls and email blasts
outbound marketing
a type of outbound marketing that seeks to capture a prospects attention by forcing marketing communications in front of them; opposite of permission marketing
interruption marketing
a type of marketing that seeks to first gain permission from prospects before marketing to them
permission marketing
the use of technology to manage the process of converting prospects to buyers, empowers b2b marketers to focus more on the strategic and creative activities that improve marketing ROI. these solutions can provide rich functionality to measure demand generation campaigns that generate more high-quality sales leads
marketing auotmation
a piece of marketing content (e.g. whitepapers, videos, newsletters) used to educate and generate interest for a company’s products or services
marketing assets
a detailed description of a fictional person that represents a group of individuals targeted by your sales and marketing efforts
buyer persona
a metric that expresses the length of time, in days, that it takes for a company to convert resource inputs into cash flows. this metric looks at the amount of time needed to sell inventory, the amount of time needed to collect receivables and the length of time the company is affordable to pay its bills without incurring penalties
cash conversion cycle
refers to a test situation in which a list is a split into two pieces with every other recipient being sent one of two specific emails to determine which email is more desirable
A/B split
what customers problem, need or want your business addresses
pain points
build awareness and get prospects curious about your product/service; blog – deepens rapport with visitors, white papers – educational focus, long lifespan in depth and potenitally expensive
lead generation
the process of generating revenue from leads by collecting, qualifying and interacting with individuals and/or organizations in relevant ways throughout the buying process
lead management
the process of building relationships with qualified prospects regardless of their timing to buy, with the goal of earning their business when they are ready. Relevance is key as individual customers have different preferences and needs. opt-in incentive, newsletters and case studies
lead nurturing
lead nurturing best practices
use multi media touches to nurture leads, quick response to web leads can maximize conversions, use a lead scoring system
types of marketing campaigns
stay in touch, drip and accelerator
drip out relevant content to prospects over time, helping to educate and build trust and credibility for your company
stay in touch
move prospects along the buying cycle faster by providing relevant nudges triggered by specific buyer behaviors or sales updates
accelerator
services of scheduled emails that deliver thought leadership to prospects that have opted in the receive marketing communication
drip
types of leads
marketing lead, sales-ready lead, qualified, converted
generated by marketing but not qualified as a sales prospect
marketing leads
deemed qualified for sales and converts into a contacts
converted leads
ready to engage with sales as determined by ideal customer profile and scoring methodology
qualified leads
ready for sales interactions, often decided by a lead score
sales-ready leads
3 critieria for successful segmentation
segment must be measurable, segment must be accessible, segment must be substantial
5 dimensions of segmentation and what questions they answers
benefits desired – why
firmographics – who
purchase behavior – how
geographics – where
product usage – how much
needs based segmentation
convenience – geography, firmographics (size of company, products made), behavior (price, delivery, quality sensitive), needs (security, power, esteem)
segmentation methods
industry/firmographics – size, geography, competitive environment, fixed costs
customer tiering – potential fit and opportunity
needs based segmentation – most predictive
needs based segmentation
price focused segment, quality and brand focused segment, service focused segment and partnership focused segment
benefits of segmentation
vendor can better satisfy needs of customers, leads to more revenue in shorter time at lower costs, targeted segments are better fit with vendor’s offering, prospects more likely to buy, close faster, product bigger deals more loyal – profit, well defined segments means more targeted messages and programs that resonate with buyers, means higher response rates, better engagements shorter conversation cycles and overall better return on marketing investment
segmentation criteria
value drivers, adoption patterns, price sensitivity, go to market/buying preferences, event triggers
does your solution reduce costs, increase revenues, comply with mandates, protect assets, improve agility, reduce risk
value drivers
innovators, early adopters, early majority, late majority, laggards
adoption patterns
preferences in procuring solutions, channel/direct preference
go to market/buying preferences
compliance with legislative mandates, mergers, new executive, disruptive products
event triggers
systems and strategies that seek to drive revenue through an improved understanding of customers and an increase in customer satisfaction and relationship building
CRM
why b2b crm is helpful
store info in easily retrievable databases, organizations become more efficient, tracks progression or regression – real time info on product movement, identifies and defines roles of marketing and sales personnel, entire company can share info and increase knowledge base across all departments
what is included in the best b2b emails
personalized to decision maker, tied to their business needs/pain points and customized to business situation, short and pithy – people decide in 20 seconds, conversation starter – question, invite to event, learn more, readable from preview window, include social media profile links in outgoing email
email mistakes
words like free, secret, click here, low prices, affordable, special offers, delighted, pleased, honored; capital letters are shouting and rude; no small talk; dont talk about your product/service; dont brag; hard sell/solicitation; no laundry list; pictures dont work
strengthen thought leadership and online video
70%
why study b2b?
more job opportunities than consumer products
more than 50% of economic activity in US, canada, france
organizations buy differently than consumers