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Posts Tagged ‘B2B marketing strategy’

Ask MarketingSherpa: Mapping the prospect conclusion funnel [includes free PDF example]

August 29th, 2018
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We frequently receive questions from our email subscribers asking marketing advice. Instead of hiding those answers in a one-to-one email communication, we occasionally publish some of them here on the MarketingSherpa blog so they can help other readers as well. If you have any questions, let us know.

Dear MarketingSherpa: Hi Daniel, I’m following up on the conversation started on Twitter about your blog post. My questions are:

– What was the main realization that took you to write this article?

– Do you think that this works for businesses in any industry? For example, some businesses are mostly offline, is it wise to invest time in creating a funnel for those as well?

FYI, this is the article I’m talking about — Marketing 101: What is funnel creation?

Looking forward to hearing back from you.

Thanks.

Dear Reader: I wrote the article because I received questions following the publication of this article: Website Development: How a small natural foods CPG company increased revenue 18% with a site redesign

Yes, the funnel works for any fairly complex purchase. This was true before the internet. Think about buying a car before the internet. First you saw the ad. Then maybe you filled out a business reply (BRC) card. Got invited in for a test drive. Test drove cars at competitors. Get to price negotiations. Etc, etc.

The funnel is a human decision-making phenomenon

I’ll go a step further. The funnel works for any fairly complex human decision, not just purchases, and certainly not just online. For example, you don’t instantly decide someone you meet in college is going to be your best friend. There’s a process.

And that begins with exposure to that person in the first place. You made micro-decisions to attend the same club meeting that person did, you approached them after the meeting, you had a good conversation, you invited them to hang out with your buddies, your buddies liked that person (third-party verification), you hung out more and more, you confided trust in that person (form fill with annual revenue info), that person confided trust in you … 40 years down that funnel, your best friend is giving a toast at your daughter’s wedding (the final purchase).

In a vacuum, the funnel still exists

The reader asked if it is it wise to create a funnel. It’s important to note that the funnel exists whether you choose to actively manage it or not. Take the example above. Your best friend didn’t choose to create a funnel to end up giving a toast at your daughter’s wedding. There were a set of decisions that you naturally made to get to that point.

It’s the same with the buyer’s journey. If you’re selling a car, there are a series of decisions a buyer will make on the path to deciding whether to purchase that car, whether you’ve set up a funnel or not.

What you can do is try to discover what these paths to purchase are, and then how you can use your marketing, sales and other resources to help them make that decision.

Let’s look at an example where we map business activities in a funnel to a set of conclusions a prospect has to reach for a B2B services contract.

Prospect conclusion funnel example

[Click here for an instant, free download of a PDF version of the Prospect Conclusion Funnel Example]

Let’s break down the example.

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4 Lessons About B2B Inbound Marketing from a Sunday Morning in the Coffee Shop

June 6th, 2017
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I was in Starbucks the other day, and in walks an older gentleman. I couldn’t help but notice that people kept focusing on him and chatting him up — in line, while waiting for a drink, etc.

I could overhear the conversations a bit, so I asked someone sitting near me, “Was that guy in the NFL or something?” He responded, “Yeah, that’s Rocky Rochester. He was defensive tackle for the New York Jets in Super Bowl III.”

He happens to sit by me, and we strike up a conversation. He notices I’m wearing a Hofstra shirt, and he says, “Hey, we used to practice there.” Then, when I notice his Super Bowl ring on his finger and mention it, he does something that simply shocks me.

He just hands it to me. So, I’m sitting there, holding a ring from Super Bowl III. The Super Bowl of Super Bowls. Broadway Joe. The Guarantee.

I share this story because inbound marketing was on the top of my mind in that coffee shop on Sunday morning — we were putting the finishing touches on the MarketingSherpa Inbound Marketing for B2B Quick Guide  — and I realized this story was the perfect analogy for effective inbound marketing. Often, we get so focused on data and metrics, technology and automation that we overlook everyday human interactions like this.

However, normal human interactions are what we should be trying to emulate with our marketing, especially inbound marketing.

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Content Marketing: Tips from your peers on making use of internal resources

March 25th, 2014
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A recent MarketingSherpa Blog post, “Content Marketing: Interviewing internal resources,” covered one technique for including internal resources in your content marketing. This post features sources who each discuss an array of quick-hit tips on the topic.

Content marketing is major piece of any digital marketing strategy, particularly for B2B marketers. This content – in the form of blog posts, white papers, e-books, infographics, videos, podcasts and more – can be created by the marketing team and can also come from third-party experts.

Utilizing the knowledge of experts, such as developers or engineers, within the enterprise is another resource for content marketing. The challenge is taking advantage of those internal resources.

Simply interviewing those resources is one way to tap into their knowledge, and we covered that tactic in the earlier blog post.

Here are three of your peers in content marketing sharing their lists of tips and ideas to kick start the process of making use of your internal resources.

Tricia Heinrich, Senior Director of Strategic Communications, ON24, explained a number of tactics used at the webcasting technology company:

1. The primary challenge faced when working with internal personnel to develop marketing content is getting needed information from colleagues who are already too busy with their own day-to-day responsibilities. They see the value in marketing, but it is not their primary focus. Overcoming this challenge requires a combination of incentive, persuasion and simplification across all levels and roles.

2. A top-down approach is helpful – if the CEO or CMO mandates that everyone (or certain people) take a more active role in marketing their company and asks to see results, employees will be more accountable and likely to take part.

3. Critical to the success of ON24’s marketing and communications program is customer involvement, and key to recruiting quotable, positive customers is enlisting the assistance of our sales reps.

4. To encourage their participation in the program, we incentivize sales reps by providing a special bonus for customer media interviews, press releases and case studies.

5. Another strategy for successfully involving sales reps in ON24’s marketing and communications program is ON24’s annual customer awards program. Leveraging their relationships, sales reps publicize the program to their customers, recognizing that the program creates good will between ON24 and the customer. The customers who win an award are more likely to participate in the generation of marketing content.

6. To encourage blog posts and bylines by internal contributors, including the executive team, we try to minimize any extra work involved by repurposing content across channels.

7. For example, a presenter in one of our webinars will write a blog post based on his webinar presentation, and the blog post will then be promoted across social channels.

8. Bylined articles are also promoted socially when published – and are often posted on the blog or rewritten for the blog.

9. We also encourage colleagues to write about what they are passionate about. For example, our CEO Sharat Sharan sees the importance of communicating effectively in the workplace and emerging marketing trends. As a result, he has written pieces for The Economist and The Huffington Post on these topics.

 

Jeff Klingberg, President and CEO, Mountain Stream Group, offered tips with a focus on gaining knowledge from engineers:

This topic was discussed at great length in LinkedIn’s B2B Technology Marketing Community.

 

Issue #1Time

Small companies (50 employees) are typically working with a skeleton workforce and everyone is wearing multiple hats. Even larger companies are facing downsized workforces since the “Great Recession.” Finding time in a busy workday to create content while fulfilling the day-to-day responsibilities to satisfy client needs can be challenging, especially in the engineering department.

 

Issue #2. Subject-matter experts

In manufacturing companies, the retirement of engineers has driven them to take a different track in meeting engineering department needs. Many companies are hiring CAD operators (designers) on a contract basis instead of hiring engineers. Therefore, they don’t have a lot of subject-matter experts available to create content.

 

Issue #3. Fear

Engineers, by nature, are not good communicators, so fear sets in when asked to create documents beyond the typical CAD drawing or manuals.

 

Issue #4. What type of content to create

Smaller companies typically don’t have a deep understanding of their customer personas, pain points and what customers’ purchasing influencers and specifiers are looking for in content. Also, you have to define what content is.

For example, 52% of engineers expect a supplier to have downloadable CAD drawings in order to consider doing business with that company, however, only about one-fourth of manufacturers have CAD drawings on their websites. And engineers are looking for 3D models to help them reduce time to market.

I know one company who has taken a novel approach to the 3D model issue. If their current suppliers don’t have 3D models, they have offered to create the 3D models for the supplier in return for product.

Ultimately, content creation is a team effort. Its importance has to start at the chief executive. Marketing personnel have to make it easy for subject-matter experts by providing research on subject and content needs, put questions together to help the SMEs create content or pull together information that Marketing can then [use to] create content.

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