by tradespeopleinsights | Nov 1, 2011 | Marketing Trends, Social Marketing, Traditional Marketing
As CMOs struggle, there is a window of opportunity for ad agency new business.
A new IBM study of more than 1,700 chief marketing officers reveals that most CMOs are well aware of the changing marketing landscape and the need to make fundamental changes to traditional marketing methods of brand and product marketing. But they are struggling to respond.
I recently read a great summary of these findings from one of my mentors, Michael Gass. Here are the highlights:
The study’s findings point to four key challenges that CMOs everywhere are confronting:
- The explosion of data – 90% of the world’s data today has been created in the last two years alone.
- The rise of social media – 56% of CMOs view social media as a key engagement channel.
- Channel and device choices – The growing number of new marketing channels and devices, from smartphones to tablets, is quickly becoming a priority for CMOs.
- Shifting demographics – New global markets and the influx of younger generations with different patterns of information access and consumption are changing the face of the marketplace.
The Importance of Social Media
This study reiterates the importance of social media and the need for agencies to be better positioned as leaders in this evolving consumer engagement channel. Carolyn Heller Baird, CRM research lead for the IBM Institute for Business Value and the global director of the study likens marketers who underestimate the impact of social media to those who were slow to view the Internet as a new and powerful platform for commerce.
“The inflection point created by social media represents a permanent change in the nature of customer relationships… Like the rise of e-business more than a decade ago, the radical embrace of social media by all customer demographic categories represents an opportunity for marketers to drive increased revenue, brand value and to reinvent the nature of the relationship between enterprises and the buyers of their offerings.”
CMOs identify customer relationships as one of their top priorities, and recognize the impact of real-time data and social media supplementing traditional methods of marketing and gathering market feedback, but they remain stuck in traditional approaches.
“Marketers who are receptive to social media and the insight it provides will be far better prepared to anticipate future shifts in markets and technology.”
Additional insights from this study:
- 78% of CMOs expect more complexity over the next five years, but only 48% are prepared to deal with more complexity.
- 82% of CMOs say they plan to increase their use of social media over the next three to five years, only 26% are currently tracking blogs, 42% are tracking third-party reviews and 48% are tracking consumer reviews to help shape their marketing strategies.
- 63% of CMOs believe return on investment (ROI) on marketing spend will be the most important measure of their success by 2015. However, only 44% feel fully prepared to be held accountable for marketing ROI.
- Less than half of the CMOs surveyed have much sway over key parts of the pricing process, and less than half have much impact on new product development or channel selection.
- 56% of CMOs viewing social media as a key engagement channel – but they still struggle with capturing valuable customer insight from the unstructured data that customers and potential customers produce.
- CMOs still focus primarily on traditional sources of information such as market research and competitive benchmarking, and 68% rely on sales campaign analysis to make strategic decisions.
- Four-fifths of respondents plan to use customer analytics, customer relationship management (CRM), social media and mobile applications more extensively over the next three to five years.
- Nearly two-thirds of CMOs think return on marketing investment will be the primary measure of the marketing function’s effectiveness by 2015. But only half of all CMOs feel insufficiently prepared to provide hard numbers for ROI.
- 75% of CMOs believe marketing must manage brand reputation within and beyond the enterprise.
Click here for the IBM 2011 CMO Study Video News Release.
To access the full 2011 IBM Global CMO Study, visit http://ibm.com/cmostudy
by tradespeopleinsights | Oct 27, 2011 | Marketing Tips, Social Marketing, Traditional Marketing
In today’s market, everyone seems to be focusing on social media as the thing to do. Both social and traditional tactics have a place in your marketing plan. Inbound and outbound marketing must work together to get the most bang for your buck today. Social media or email can’t be isolated tactics, but should be used together.
I recently read an article by Kipp Bodnar in Social Media B2B, 7 Awesome Email and B2B Social Media Integrations that I thought hit the nail right on the head. Here are some highlights:
- Use social media links in your emails – pretty simple but you’d be surprised how many folks miss this opportunity.
- Use social media to grow your email list – you have a better chance of getting a lead if you can convince them to sign up, for example, for your monthly newsletter.
- Test email efforts on social – before sending out a communication to your list, test it on social to see what kind of reaction you’ll get.
- Use social media for future email content – follow and listen to what the hot issues are on social and craft future messages around those issues.
- Source leads correctly – use tracking URLs to better understand where your interest is coming from.
Those are some highlights; what are you doing to integrate social into your traditional marketing efforts?
by tradespeopleinsights | Oct 26, 2011 | Marketing Tips, Traditional Marketing
For those of us who are doing blogs, we sometimes get so focused on the social media side of things that we forget to use traditional methods of promotion to promote it.
I recently read a post by Heidi Cohen, 34 Ways to Raise Blog Readership Without Using Social Media. Although all her suggestions aren’t relevant to the manufacturing segment that’s trying to reach the professional tradesman, I’ve highlighted some of the points that hit home to me.
- SEO – using keywords maximizes your reach.
- Promote on your website – we even have the three most current posts on our home page to draw attention to the blog.
- Do an email – to the appropriate audience with link.
- Packaging – promote on outside of box.
- Press release – not for every post, but certainly for important ones that have to do with industry research.
- Include your blog on your business card and on your email signature.
If you’re doing a blog, what ways are you promoting it other than by social?
by tradespeopleinsights | Oct 25, 2011 | Marketing Tips, Traditional Marketing
Product landing pages have distinct advantages — they help focus the user on the offer by directing them to a page that has relevant info, presented in a compelling way that hopefully will get them to engage and interact with your brand.
To that point, we need to make sure that the user stays on the page, gets what they want and hopefully converts to whatever your call-to-action is.
I recently read a good article in Mashable where they interviewed Zach Morrison, VP of Strategy, from Elite SEM on his thoughts on how to improve your landing pages. Here are some highlights:
- Optimize pages for web reading – from layout to look and feel. Also make sure you have a mobile friendly version.
- Write copy with search in mind – while it’s important to write for the user and answer the question of “what’s in it for me,” the more copy related to key words, the better as it helps in search.
- Use images carefully – while it’s important to use photos or videos, make sure that you’re just not putting them in for the sake of it. You want a clean, well-thought-out page that’s not too cluttered.
- Highlight a call-to-action – tell the customer what they need to know, what they need to do and where they need to go. Make it clear and obvious. If you use a call-to-action button, explain to them what you want them to do.
The key to any activity is to keep things simple, focused on a message and have a clear call-to-action.
by tradespeopleinsights | Oct 20, 2011 | Marketing Tips, Marketing Tools, Social Marketing
Blogging greatly improves search engine optimization, which has proven to be a key lead generating factor for new business. Following are some highlights from a post from my social media mentor, Michael Gass.
How new business is being acquired for companies is currently undergoing a paradigm shift; instead of pursuing clients, it’s now more important for your prospective clients to find your company.
Blogs make their search easier.
2011 HubSpot ROI Study
In a recent 2011 HubSpot ROI Study, 69% of businesses surveyed said that blogging attributed to their lead generation success. The study also found that 75% of businesses believed SEO was a primary factor. The study shows companies that blog attract 55% more website visitors than non-blogging companies.
Blogs generate far more visitors by:
o Search visibility – blogs are organized to be search engine friendly. Plus the more content you have (well-linked), the more chances there are of attracting search traffic.
o Click-through traffic – through posting interesting articles a blog gives a reason for other people to link to you.
o Repeat traffic – regularly updated content and comments bring visitors back… and back… and back. Most company websites are not conducive to repeat traffic, particularly if your website hasn’t been updated in 5 years.
o Personality – create a blog around your company’s culture and let your personality shine through. People will be attracted to you. People like to associate with people they like. It’s hard to make friends with a business, but easy to warm to an individual with a welcoming personality.
o Viral effects – you create something cool and visitors tell their friends, who tell their friends… and so on.
o Authority/credibility – blogging allows you to become an expert in the minds of your prospective clients.
Company Website | Blog
Your company’s website functions well as an online brochure, a place for your credentials and credibility. A website doesn’t have the potential that a company blog has for significant online traffic and to provide prospects a reason to visit often. A blog can be the gateway to your company. Through content marketing, focused toward a specific target audience, a company’s blog can become a great lead generation tool for new business.
Your company’s website is about YOU, but your blog should be about THEM. Blogging keeps you focused on what is important to your prospective clients. It forces you to speak to their benefit instead of your company’s products and capabilities. Blog content, if developed correctly, will have more appeal to your prospective client audience because it is focused on their marketing needs and challenges.
by tradespeopleinsights | Oct 19, 2011 | Marketing Tools, Social Marketing
To listen to all the “experts” Google+ is the next best thing to come down the pike and will eventually replace Facebook in the B-to-B space. I don’t know if it’s true or not, but since they opened it up to the public a few weeks ago, there are over 50 million users and it’s growing everyday.
I have to believe that if Google is involved then it has a pretty good chance of succeeding. I’ve been on it and have started building my circles, but have yet to fully understand all the ways we can use it.
I recently read an excellent post by Debbie Hemley in Social Media Examiner, 20 Ways to Improve Your Google+ Knowledge that I thought was very helpful. She gives tips on how to get through the basics and highlights ways that you can use it in everyday B-to-B applications from setting up your circle to creating your profile, setting up notifications, plus much more. Here are some highlights that I found interesting:
- Engage and learn – go to Google+ tips on Twitter and see what others are saying and dive in.
- Watch and learn – look at Google+ help and watch videos from people who created it.
- Set up Google Sparks account– that way you can get the latest developments on what’s new.
- Create a cheat sheet – to help you format and utilize hotkeys until you become more familiar.
- Show off your Google profile – by putting it on your blog or website.
- Go mobile – make sure you get the mobile app so you can use it from your phone.
So I’d like to know if you’re on Google+ and if so, what are your thoughts?
