by tradesmeninsights | Aug 17, 2010 | Marketing Tips, Social Marketing, Traditional Marketing
For those of you who follow me on a regular basis, you know that I don’t preach that social media will be the “holy grail” of marketing. It’s just one more marketing tool in your tool box.
For those of you who are using social, hopefully you are combining it with traditional things like email marketing to drive people to your social sites. I recently read an article in eMarketer.com, and in an April survey by eROI, an interactive and email marketing agency found that two-thirds were doing just that. A similar study done in June of this year by StrongMail, a provider of mail and social media solutions, put the number at 71% worldwide.
That’s good news. The vast majority is focusing on the basics, Facebook, Twitter and LinkedIn. They were also using the share button 63% to encourage people to share. In the ROI study, over 90% were utilizing Facebook as their favorite.
So what are you doing to harness the power of combining social media with traditional email marketing?
by tradesmeninsights | Aug 12, 2010 | Marketing Tips, Marketing Tools, Traditional Marketing
Many manufacturers are so focused on the features and benefits of their new product that they sometimes forget about educating and motivating their distributors to insure a successful launch.
Distribution is a key link in the launch and if your distribution isn’t on board or even understands what or where this product fits into your overall strategy, it’s going to be hard for them to sell. Let’s face it, especially in today’s economy, a distributor needs to understand why he should invest in inventory of this new widget.
Here are some tips to help make sure your distribution is on board:
- Give them plenty of notice – They need to know 45-60 days in advance so they can get the new SKUs into the system, onto the promotion calendar and most importantly, get you that initial stocking order.
- Incentivize the initial stocking order – Give them an additional discount on that first order or give them extended dating or waive your minimum order requirements. The key here is to make sure they have your product on the shelf so when the contractor comes in and asks for it, they have it.
- Train/educate distributor sales force – It’s an important step in the process that’s often overlooked. Many manufacturers assume they understand the big picture, and most of the time, it’s not the case. With time and travel expenses being what they are, traditional things like lunch-and-learns may not be the best way to introduce the new product. You might want to use an online training tool like BlueVolt that can both train, verify and motivate the sales team.
- SPIF sales – For at least the first 3 months, put some sort of incentive on the product to get the sales folks excited. Put yourself in their shoes. Most distributors carry anywhere from 15,000-25,000 different items. Which ones do you think they will be talking about? And oh by the way, don’t overlook those inside and CSRs. They have 5-7 times the number of contacts with customers everyday and can talk up new products and create add-on sales (do you want fries with that?)
- Make key end user calls – This seems like a no-brainer, and while you the manufacturer might be making those calls, you don’t always include the distributor in them. Chances are that key potential for you is already a key customer for the distributor. He can make sure you get in front of the right people and brings a relationship to the table.
These are some simple ways to insure your new product launch is successful.
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by tradesmeninsights | Aug 3, 2010 | Marketing Tips, Traditional Marketing
It’s been a tough 18-plus months for everyone in this channel, contractors, distributors and manufacturers alike. But manufacturers who pulled back their advertising and promotion budgets back then and haven’t restarted them, may be in for some surprises.
Tradesmen are still buying stuff. It may not be at 2008 levels, but not all contractors are sitting back at the office waiting for their phone to ring. And guess what? Americans have a short memory span, and if they haven’t seen or heard from you in a while, they tend to forget you exist.
They’re buying product, question is, it yours or your competitors? There’s a lesson to be learned here from history, and I’d like to share with you a conversation I had recently with someone in the industry.
I recently spoke with an editor from a key publication in the tradesmen market. While this was not the purpose of the call, the conversation naturally led to the topic that has been on all of our minds for the past couple of years – the economy. In discussing where we think the economy is going and how manufacturers that serve the tradesmen should react with their marketing and advertising as a result of the economic downturn, an interesting tidbit came out of this editor.
He mentioned that he has archives of his magazine that date back to 1920, before the crash of 1929 and the Great Depression. He has clawed through these issues and found it fascinating that the companies that kept advertising throughout the great depression are still around today – in some form or fashion. By that I mean they either got acquired or are still in business today under the same name that they operated under in the 1920s. Some of these companies are very well known brand names today in the tradesmen industry – companies like Kohler, Haws, Price-Pfister Brass Mfg. Co., Rheem and Crane.
The lesson from this is pretty clear – advertising throughout a down economy can help your business survive, and even thrive in some cases. These companies kept their marketing spend up and as a result, made it through the crisis. Companies that did not, for the most part, ended up closing their doors.
This can be likened to the old Wall Street saying “buy low, sell high” in that a down economy can be viewed as an opportunity instead of something to dread. When your competitors remove themselves from advertising and their target’s eye, it is an opportunity for you to stay front of mind, and to steal market share. And you better believe that if you are a market leader, that your share is threatened if you do not spend the money on marketing and advertising.
While we are seeing some light in this economy, if you haven’t already been advertising, you need to get your message out there and either defend your market share or steal market share from your competitors. Don’t become irrelevant.
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by tradesmeninsights | Jul 29, 2010 | Marketing Tips, Social Marketing
Since anyone can be a spokesperson on social media, your company should have established guidelines that outline rules for online engagement.
If you’re in a larger company, that means getting everyone from the executive suite to HR, and of course, customer service and marketing. If you’re a smaller one, you still need guidelines, but maybe not to the extreme of larger companies.
The first question is where to begin. You can look at what other big companies have done like IBM or Intel and cut and paste from publicly shared sites. Or you can look to associations like the PRSA or HR sites to give you guidelines.
Another option is developing your own set of guidelines. In reality, you’ll probably do both. The key when developing guidelines is to borrow from the best and adapt them to your company.
You need to find a balance because you are writing guidelines for a media of which you have no control over. This isn’t like writing a HR policy where you can dictate terms/conditions. Social is an open sharing of information and is one’s opinions on a subject which falls under the freedom of speech and privacy issues. Yes you as a company have the right to protect trade secrets and other proprietary info.
Here are some things you need to consider:
- Define who will be the “official spokesperson” for your company and outline the topics they can speak about.
- Define a process for crisis issues like a Twitter storm on a specific product.
- Identify internally who will be responsible for granting permission on industry trends, new products, etc.
- How can your employees engage in conversations without speaking for the company?
Here are some links that might be helpful:
by tradesmeninsights | Jul 28, 2010 | Marketing Tips, Social Marketing
I’ve been talking about the benefits of social media in the B-to-B space now for almost 18 months and yet there are some companies out there that still don’t “get it.”
I wanted to share a success story with you of a traditional trade association, the PMPA (Precision Machined Products Association) and their results from starting a social program a little over a year ago (disclosure: they are a client of ours). These types of associations aren’t very sexy and they have plenty of competition out there for members to help them run their business better.
To better position themselves within the metalworking world as a thought leader and as part of a new business strategy, we recommended they jump on the social media bandwagon.
They did, and the following is an article written by Miles Free (Director of Industry Research and Technology, and principal contributor to their blog, Speaking of Precision) in their monthly magazine to members and potentials advocating they too jump on the social media bus.
PMPA content has been before people who are interested in it over 1,500,000 times in just one year at next to no out-of-pocket cost…
In just one year, we can document over 65,000 page views on PMPA’s Blog, SPEAKINGOFPRECISION.COM.
We’ve used Twitter to help connect people to our Blog content, and we’ve made hundreds of thousands of contacts using that tool. Once a week, one of our selected Blog topics gets uploaded to LinkedIn, where it is seen and shared by over 25,000 people in the machining, medical defense, and aerospace markets that belong to groups on LinkedIn. We can conservatively say that PMPA content has been before people who are interested in it over 1,500,000 times since we started our social networking program a year ago.
And on our blog we’ve posted some pretty good content – our posts on austenitic grain size, welding resulfurized steels, bar straightness, temper color, and material impacts – these all come up on page 1 of Google search results. Often in the top handful of non-paid links.
Page one on Google is the gold standard for information in the information age of today.
These social networking tools have helped us connect with members, potential members, your potential customers, suppliers, and the larger market for Precision Machining. The out-of-pocket expense was very small, trivial really. And the staff time required once we set it up is just a few hours a week.
So why haven’t you picked up these Social Networking Tools You Can Use? We’ve demonstrated that they can create connection, start a conversation, and introduce us to new clientele. Our getting topical page one rankings on Google shows that the knowledge that your shop has is just as likely to command attention in the Marketplace of Ideas online. Certainly you have special capabilities and expertise that when properly shared and targeted can help those people (and companies) who need and want to find you, to connect.
For several years, we’ve been working on the idea of connecting. Our member surveys always show Networking as a highly valued PMPA deliverable. Networking is done by connecting.
We’ve just had a one-year demonstration of what social media tools can do for an industry association. The numbers are as impressive as the costs are low. We hope that you will follow our experience by using these new tools to connect with tomorrow’s buyers who haven’t yet figured out that you can help them, and won’t take your salesman’s call if he finds them.
Social Media tools make you bigger in your market. The 30,000 people who see a message from us weekly are larger than the few thousands of people who were already in the PMPA “tent.” And they have conversations and network with people with similar wants and needs. Of course you want to reach them!
Consider social networking. Not just an email blats of a newsletter. A blog perhaps or enhancements to your website. At the very least, you need to be on LinkedIn. Join relevant groups. CUSTOMER GROUPS. Industry groups, any group that might conceivably be related to your business. Develop content. Share it weekly with your new Network. Do it now.
From PMPA’s first-year experience, there may be a million and a half or so of your potential followers, customers, and maybe even potential employees out there waiting to find you. And, perhaps, 60,000 or so opportunities to teach those who are really interested in what you might have to say – the stuff that makes you an expert and that they really need to know.
Social networking. It’s not about selling. It’s about cultivating your market. Connecting. Establishing your expertise. Finding your voice. Being found. Connecting.
Social Networking – it’s Tools You Can Use. Pick your tool. Give it a try.
by tradesmeninsights | Jul 22, 2010 | Marketing Tips, Social Marketing
Blogs can be a very important part of your social media strategy. I use it as the hub of all other activity and get more hits to it than our website. If you’re thinking about doing a blog, here are a few things to consider first.
Starting a blog is a great way to show the world your unique identity. Even an “amateur” blog can let customers, friends, and coworkers know you are serious about establishing yourself online.
Pro – It’s Free! From Blogger to WordPress to TypePad to Tumblr, there are dozens of sites out there that will let you start a free blog. Just sign up for an account and get started setting up the style and layout just how you’d like it. Many even offer design templates to help you get started.
Con – Time Consuming. Once you’re signed up, the empty space of your blog can be intimidating, especially compared to bloggers who have years of experience and tens of thousands of posts. You are faced with the task of filling up a digital journal with an unlimited number of pages and an unlimited number of readers. This can be very time consuming.
Pro – Unlimited possibilities. Blogging is a great way to share your professional knowledge, but your blog need not pertain to just your work life. Infusing your personality can be a great way to connect with your audience on a more human level.
Con – But would anyone read it? You have to give the world a reason to read your blog – they won’t come flocking to you. Letting friends and family know is a great way to get started, but ultimately you need to build your audience through dynamic, interesting content targeted at a niche subject. The Internet is a big place with a lot of competition.
Pro – Establish your Brand. Whether you’re a CEO or a student, you owe it to yourself to create and incubate an online identity for yourself or your company. 45% of employers will conduct an online search to screen potential employers – do you control what they will see?
Con –Watch what you blog. There may not be any official standards to what you can and can’t blog, but you have to live with everything you post, for better or for worse.
Pro – Squash Rumors. Not everyone has crazed fans that start outrageous rumors. Everyday people can find themselves a victim of spamdexing, a phenomenon where your name is repeatedly used on unscrupulous websites simply to generate unique traffic. Your web identity gives people a detailed picture of whom you are, so keep what is said about you under your control.
Pro – Establish Thought Leadership and Build Relationships. A blog allows you to become an expert in your industry. It is a great opportunity to share your knowledge, tips and tricks in the industry. Share valuable information and people will turn to you when they have a problem or question. A blog is another great resource to be able to listen to your audience.
Don’t be put off by a blog as it’s a powewful tool, but don’t be fooled as it does take a time commitment.
If you liked this post, here are others that might interest you.
6 Tips to Make Your Blog More Successful in Reaching the Professional Tradesman.
Social Media: How Manufacturers Can Make the Most out of it.
Social Media: Catching on in the B-to-B Markets.
80% of Visitors to Your Blog are First Timers!
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