by tradespeopleinsights | Apr 6, 2010 | Marketing Trends, Social Marketing
We in the B-to-B world realize that digital is fast becoming a very acceptable vehicle which none of us a few years ago would have thought that it would have grown at such a fast pace. In our space, digital will have a role but I don’t believe it will catch up to the consumer side of things. While the enclosed study is primarily focused at the B-to-C side of things, it should be a gauge for us as to things come.
Outsell, which provides research and advisory services to the publishing and information industries, surveyed more than 1,000 US advertisers in December 2009 for its annual “Marketing and Advertising Study 2010.”
This marketing and ad spending study forecasts spending, share, and growth for five media types—online, events, print, TV/radio, and PR/other—and methods used within each, from social networking to mobile/wireless marketing.
In what it calls “an industry milestone crossover event,” US companies will spend more this year on digital and online advertising and marketing than on print for the first time ever.
“Advertisers are directing dollars toward the channels which generate the most qualified leads and most effective branding. As they emerge from the recession, they need more accountability, and they’re spreading their spending over a widening set of options,” said Chuck Richard, Vice President and Lead Analyst, Outsell.
Some nuggets from this report:
- Companies will spend 119.6 billion dollars on online and digital strategies and 111.5 billion dollars on newspaper and magazine advertisements and other print campaigns
- US spending on advertising and marketing projected to increase by 1.2 percent in 2010 to 368 billion dollars
- Spending on newspaper advertising expected to drop 8.2 percent to 27 billion dollars
- Spending on direct mail marketing campaigns could rise 2.7 percent to 24.4 billion dollars and spending on custom print publications would be 3.0 percent higher at 19.3 billion dollars
- Spending on print directories would fall 8.3 percent to 11.6 billion dollars
- Spending on print newsletters would be flat at 11.4 billion dollars
- Spending on television advertising was forecast to drop 6.5 percent to 59.6 billion dollars
- Print magazine advertising could be up 1.9 percent to $9.4 billion
- Methods generating the highest B2B ROI are topped by advertisers’ own websites, followed by conferences, exhibitions and trade shows; direct mail; search engine keywords; and e-marketing/e-newsletters
- B2B advertisers see cross-media marketing as most effective; 78% combine three or more major marketing methods
- 51 percent of B2B marketers rate Facebook as extremely or somewhat effective, followed by LinkedIn (45 percent), Twitter (35 percent) and MySpace (25 percent)
“2010 will not suddenly erase the painful memory of crumbling ad spending in 2009, but it will provide much closer to a flat year for several of the traditional media types,” Outsell said.
The entire 33 page report is available for download for a fee by clicking here
Other posts that might be of interest:
Social Media: Will be Focus of B-to-B Marketers in 2010
B-to-B Marketers: Social Networks Top Priority for 2010
by tradespeopleinsights | Apr 1, 2010 | Marketing Tools, Social Marketing
Guest post from Aylie Fifer, a Relationship Architect at Sonnhalter.
There is a revolution starting in the world of mobile marketing and it isn’t just for B2C – it is for everyone, including B2B. According to a recent article in Mobile Marketer, B-to-B mobile marketing will go from 26 million in 2009 to 106 million in 2014 according to Forrester Research.
Every now and again a technology comes along that is a total game changer for humanity and shifts the paradigm of the world we live in. Harnessing electricity. The Assembly line. The Internet. The iPhone. With the recent influx of smart phones and smart phone technology, we are seeing a whole new world – the world of mobile marketing.
Two-thirds of the world’s population has a mobile phone subscription—4 billion people—and by the end of 2010 there will be 5 billion wireless subscribers worldwide, according to some estimates. And a majority of these phones are now moving to the smart phone platform. From the Apple iPhone to the Motorola Droid to Blackberrys…the trend for mobile is to go to a smart phone or lose market share.
As a result of this new use by consumers, no longer are we capturing people in context – the trade magazine, the TV show – not to say that these mediums are dead, but we now are faced with thinking differently. With smart phone usage on the rise, people check it at different parts of their day – not just at work or at home – but several different parts of their day. This has shifted the traditional approach to marketing as now we are faced with catching people’s attention throughout the day.
I would argue that advertising to your target and catching them at a time of day when they might not being thinking about work makes the message resonate even stronger because it IS out of context. For instance, if a carpenter goes out over the weekend and sees an ad through his phone about a certain type of tool, this stands out to him because it is unexpected – he is out socially and may not be in “work mode.”
People have become more immune to advertising, so one way to catch their attention – and make your brand stand out in their minds – is to catch them when they AREN’T thinking about work, and to do it in an entertaining way.
Mobile advertising has furthered this push and while I am a firm believer in a good segmentation strategy, it is also true that everyone is a consumer. When people hang up their clothes at the end of a hard day, they turn off their work mode and begin the “home” mode. Thus, I would argue that you can’t just segment into demographics or ethnographics, you now need an added dimension – what I call parallel-ographics.
You live your life in parallels – you may talk to your husband (or your wife) during the day and realize that you need to pick up diapers so you pick up your smart phone and you search for a coupon. In your work day, you are a plant manager, but through the use of mobile, you just dipped into your parallel life – that of mother and wife. And while you are at the store after work hours picking up those diapers, you get an email from work and you are instantly transferred into your parallel life – that of plant manager. Your context shifts constantly and instead of having separate times for work and home, this use of mobile and smart phones has made us increasingly blur that line and we run our work and home lives as parallels instead of separate.
As a salesperson for a B2B company, you may be able to show a product demo from your phone when you are out socializing and happen to meet a potential customer. The lines between social and work life have become even more blurred with the onset of mobile. Think of mobile as your portal to the Internet and the beyond – where you might have in the past only done on a laptop computer, you can now access – at any time – on a smart phone.
The onset of mobile marketing means that you never fully turn off your roles throughout your day, which changes the way a marketer catches you and keeps your interest. And as a marketer, to attack this new paradigm of living, you have to approach it from a parallel-ographic standpoint – knowing that the message needs to appear in multiple places, at multiple times and that yes, everyone is a consumer.
What are your thoughts on mobile marketing? Do you think it will be the next big thing?
by tradespeopleinsights | Mar 31, 2010 | Marketing Tips, Social Marketing
Unless you live under a rock, everyone knows about social media at least in broad terms. Social media holds a tremendous amount of potential for businesses looking to grow. Many companies, in an effort to get started, jump right in, and while that’s not the end of the world, I think if they really want social media to have a positive impact on their business, they should consider the following:
- Set clear goals – Too many people are ready, fire, aim! They are so interested in the “how” of social instead of the “why.” What are you trying to do, brand build, increase the number of leads, use as a customer service tool? Just like any other marketing exercise, you need to have a plan.
- Human capital – Once the goals are in writing, do you have the people power needed to accomplish the task?
- Content – Do we or can we produce enough “good” content to sustain a social media program?
- Current web site – Is it social media ready? I don’t mean putting up logos saying follow me on Twitter or Facebook. Is there a reason for customers or potentials to return to your site? Have you set up a forum or industry update button?
- Incorporate it throughout the buying process – Remember where these new leads came from (social) and that they expect the same type of access and interaction throughout the process. Besides, you as a marketer would probably like to know which leads you handed off to sales were actually converted into new business.
If you follow these five steps, you’ll be off on the right direction.
What things could you add to the list?
by tradespeopleinsights | Mar 30, 2010 | Marketing Tips, Social Marketing
Webinars are a way to leverage the Internet and are becoming a more acceptable way of communicating to both existing as well as new customers. We use them to promote new products and services, as well as present industry events and overviews. Many of our clients also use them for training.
When doing webinars, make sure you capitalize on using e-mails to get your message out. Here are a few tips:
- Invitation – Make it easy for people to opt-in and link to register. Make sure you don’t forget the basics like date and time.
- KIS-Keep It Simple – Tell them what’s in it for them up front. Highlight the speaker(s) credentials.
- Testimonials – If you’ve done the webinar before, get a quote from an attendee that can be used in the invite.
- Send reminders – It usually takes several touches to get people to sign up. Change the subject line and first paragraph.
- Capture webinar – Turn it into a webcast on your site.
- Follow up – Make sure you send attendees a follow-up survey to see how you did. This is a great way to improve for the next time.
What are some things you do to make sure your webinars are a success?
by tradespeopleinsights | Mar 26, 2010 | Uncategorized
Today is name your own holiday. Since we focus on manufacturers who want to reach the tradesmen, we thought it would be appropriate to declare March 26 National Tradesmen Day.
Where would we be without them? The unsung heroes of American Industry.
At Sonnhalter, we know tradesmen well. They are the customers of the clients we serve. They’re construction workers and maintenance professionals. Electricians and plumbers.
We can think of no better way to honor the people who work with their hands than by declaring today National Tradesmen Day.
Please join us by thanking the men and women in the trades. It’s truly a day to celebrate.
by tradespeopleinsights | Mar 25, 2010 | Marketing Tips, Social Marketing, Traditional Marketing
From time to time I post some of the more popular posts to refresh the ideas for those who might have read them and for those who haven’t had a chance to look at some of the more popular ones. Enjoy.
- Many tradespeople feel they don’t really need to have anything to do with social media. Perhaps because their business comes mostly through referrals, or they don’t see immediate value in social media, or they feel it may take up too much time and they need to be out getting new business. And many tradespeople feel intimidated by social media. Read more...
- Would it surprise you to learn that the biggest gains in who’s using social media are among older users? According to a report in eMarketer, “Consumer Internet Barometer” U.S. Internet users who visited a social site in the second quarter of ‘09 rose 16% over last year. Females still lead males in usage and 70% of users were under the age of 35. The most popular sites in order were: Facebook, MySpace, LinkedIn and Twitter. Read more...
- Engagement marketing is developing a two-way conversation with a customer or prospect. Engagement happens when people look forward to hearing from you and find your communications meaningful and helpful. Engagement marketing creates a common purpose between a manufacturer and its customers. It’s not a “Push” or “Pull” strategy, rather a collaborative one. Read more…
- We all have limits on our time and those of us who have dived into social media have to find time in our schedules if we want these marketing tools to work. The key, like anything, is organization and setting priorities so you optimize your time spent. Read more…
- Whether you’re using traditional marketing tools or social media, one of your key objectives should be to become the thought leader in your market or category. Read more…
