by tradesmeninsights | Sep 20, 2021 | Events/Trade Shows, Tradesmen Insights
By: Matt Sonnhalter, Vision Architect
In 2020, companies and businesses turned to online events as an alternative to in-person events due to COVID-19. With those who previously held face-to-face events, 4 in 5 or 78% of people converted to online. Although online events were successful, people are starting to feel burnt out from them.
According to Activate Marketing Services in partnership with MarketingCharts, 9 in 10 or 90% of Demand Gen marketers agree that buyers are becoming fatigued with online events.
We all had to pivot last year to replace in-person events (tradeshows, association and industry meetings) … and most of us tried to fill the gap by replacing them with some sort of online/virtual event. With buyers becoming fatigued, and that will only be growing, companies are starting to redirect their focus. Instead, high-quality lead programs have risen up the ranks when respondents were asked to choose their top 3 options. That being said, companies are starting to focus more on content and engagement with their audience.
This doesn’t mean virtual events are going away anytime soon. Although I don’t know about you, but most of the online events I attended were pretty much busts.
What does your company have planned for the remainder of the year? Any in-person events? I know I’m scheduled to attend at least half a dozen trade shows between now and the end of the year and I can’t wait to continue to see people “live” and in person!
by tradesmeninsights | Aug 17, 2021 | Tradesmen Insights
by Matt Sonnhalter, Vision Architect
Virtual selling will continue to be around after COVID-19. Over the past year, there has been a shift of moving things to be done virtually or remote. In a recent report, State of Sales, LinkedIn looked at the top deal killers for B2B buyers.
When looking at the report, some of these concepts seem so obvious, but if they made the list, then they must be happening out there.
Here are the Top 3 B2B seller behavior deal killers for buyers:
- Delivering misleading information about a product, its price, etc. – taking the top spot at 48%, I guess my question is why 52% of B2B buyers would buy from a vendor that gives them inaccurate info about the product and its price! Tell the truth; representing a trusted brand can make outreach more successful and gain you customers.
- Not understanding my company and its needs – this seems like “Sales 101,” but it’s amazing how many salespeople are too focused on their own product/service and not the customer. A sales professional needs to be focused on the consumer’s need rather than pushing a product.
- Not understanding their own product or service – with the amount of information on the internet and the amount of time buyers spend researching prior to reaching out to the company, shouldn’t be a surprise they sometimes know more than the salesperson.
Sales professionals are taking note of these deal killers and trying to improve. Knowing and identifying deal killers is important when targeting your audience, so you can adjust your outreach and effectively build trust.
Looking into the future, how will you change as a sales professional?
by tradesmeninsights | Aug 10, 2021 | Marketing Trends, Public Relations, Social Marketing, Tradesmen Insights
by Kylie Stanley, Public Relations Technician
Influencer marketing is one of the top forms of marketing, especially in 2021. With influencer marketing being in demand, marketers must use it to seek their target audience.
In a recent report from Linqia, “State of Influencer Marketing,” they outline some of their key findings. While this report is focused on enterprise marketers, these broader B2C influencer marketing trends eventually make their way down to the B2B market.
Here are some of the key highlights:
- Interest in using TikTok in influencer marketing campaigns rose 325% in just one year
- 90% of enterprise marketers wanted to work with micro-influencers
- Marketers are working with significantly fewer influencers than three years ago
- 86% of respondents are already using shoppable links to allow consumers to go from inspiration to purchase instantly
- 65% of respondents indicated that measuring ROI continues to be the biggest pain point in influencer marketing
It’s no surprise that the top two platforms are TikTok and Instagram as video content is continuing to grow within influencer channels. In fact, one in three marketers said it is extremely important.
Influencers are more than just their audience; they also create compelling content across channels and this is why they’re so effective.
What changes are you making to your Influencer Marketing Program for 2021?
by tradesmeninsights | Aug 6, 2021 | Tradesmen Insights
By: Matt Sonnhalter, Vision Architect
After 2020, we can see a change in what types of content are most effective. In a recent report from Activate Marketing Services, they surveyed 72% of B2B tech marketers and demand gen decision-makers for a report on effective content.
In this blog, we will look at each tunnel tier and each type of content.
Top of the Funnel:
At the top of the funnel, we have blog posts that are considered most effective. Whereas next we have 66% of people who consider infographics the most effective. Lastly, at the top of the funnel we have videos. Blogs, infographics and videos are great sources of content as buyers are engaging with more digital content especially after the pandemic. When crafting content for your company, keep your audience in mind to optimize business.
Mid-Funnel:
In the mid-funnel, we can see virtual events and webcasts were most effective. Last year, we saw an increase of virtual events and webinars due to COVID-19 and the cancellation of in-person events. Online events are great to expand your audience and let anyone listen from anywhere.
Bottom of the Funnel:
In our final tier, we have data-driven content. For example, this type of content consists of white papers, e-books and case studies, with white papers at 41% effective, e-books at 9% and case studies at 16%.
And while this study focused on B2B tech marketers, these content pieces would work for the general B2B marketers.
What’s been your most effective content type at each stage of the funnel?
by tradesmeninsights | Jun 29, 2021 | Manufacturing, Marketing Tips, Tradesmen Insights
by Doug Walker, guest blogger
Having a business plan is important for the success of any business. A business plan will help you to evaluate your goals and determine how you will set about achieving them. It will help you recognize where things are not going according to plan and help you take corrective action. A good business plan can also help you to attract much-needed funding.
Setting up in business as a manufacturer representative is no exception, and a well-constructed business plan can mean the difference between failure and success. Here we take a look at how you can create a business plan that really works for a manufacturer representative. 
Nature of Your Business — One of the first things you should do is define what the nature of your business is. This is partly for the benefit of any potential investors who might be considering making an investment in your company. Before they are willing to part with any money, they will first need to know what your company is all about and how it will make a profit.
Defining the nature of your business is also beneficial to you when it comes to running your company. It can be all too easy otherwise for somebody to get side-tracked and lose focus on their objectives.
Capital Requirements — How much money do you need to get started? How much will it cost to register your company? What do you need to pay to get business premises of your own? What about utilities, IT, desks, and other furniture and equipment? All of these things will need to be taken into consideration to make sure you have what you need; otherwise, you will struggle to function. It is also a good idea to try and account for unexpected expenses. If financial literacy isn’t your strong suit, there are resources online that will help.
Identify Your Competitors — Who are your competitors? Which manufacturers do they represent? Who do they sell to? What advantages do they have over you, and what advantages do you have over them? How can you encourage customers to buy from you instead of the competition?
Knowing the competition will help you understand just how competitive your field really is. If you find yourself in a fiercely competitive market, then you will need to try and work out how you can stand out from the rest, or even consider another field altogether. Identifying your competition could also help you to learn from them. If they have been in business for a long time, what have they been doing to make themselves successful?
Clients and Customers — If you’re a manufacturer representative, who are you going to represent? Do you already have a relationship with a manufacturer that you could work with? Are there others whose products you’re familiar with that you could approach? Bear in mind that if you’re going to go into business selling products for other people, you simply must have something to sell.
Just as important as having something to sell is having somebody to sell to. Your business plan should include market research into the demand for a manufacturer’s products. Are you selling to businesses? If that’s the case, what appropriate businesses are there in your area? Will you need to travel long distances to meetings with potential customers, or can you find a cloud calling solution for virtual meetings? How much will travel cost, and accommodation if required?
Marketing — How are you going to acquire new prospects? Advertising? Door-to-door? Cold-calling? Is your method of gaining new products something you can do yourself or will you need help? Will you need to employ staff to do it for you, or outsource marketing to another business?
Your business plan will need to take into account the cost and efforts involved with acquiring new prospects. It will help potential investors to see that there is a good business opportunity while it can also help you to identify any potential issues with your sales methodology and finding people to sell to. 
Identify Potential Obstacles — Things don’t always run smoothly for businesses. Even the best laid plans are not immune to external influences that the business owner has no control over. For example, the recent global health crisis has put significant strain on the supply chain, and a recent report found that 94% of manufacturing leaders report concerns about their current supply chains. This translates to potential shipping delays for your products, which is out of your control.
While we may not be able to prevent issues from happening, however, we can make sure we are prepared to deal with them when they do arise.
Try and consider which obstacles exist or might exist at some point in the future. How are you going to overcome those obstacles? What contingency plans can you put into place? If you’re not prepared for such eventualities, then it can have a severely detrimental impact on your business; being prepared can help make them more of a minor inconvenience.
Financial Forecast — Create a realistic financial forecast. How many sales do you realistically see yourself making, and how much revenue will they generate? How much will your business cost to run? What overheads will you have? What will be your profit margin once all costs have been deducted from revenue?
It’s important you are honest when creating your financial forecast. Trying to make the forecast look better on paper will not achieve anything for you in reality, other than maybe lead you into debt. If the forecast does not look good, then you will need to re-evaluate your goals. Doing so will make it a lot more likely that you have a business that’s a success rather than one that closes down quickly.
A well-made business plan is important for numerous reasons. It can help you attract necessary investment in your company if needed, while it can also help ensure you have a viable business before you start. A business plan will also help you to keep your company headed in the right direction and identify areas that need improvement. The right business plan can make the difference between a company that fails and a company that is a huge success, so it’s well worth spending your time on creating one that really works.
by tradesmeninsights | Jun 24, 2021 | Marketing Tips, Marketing Tools, Social Marketing, Tradesmen Insights
by Kylie Stanley, Public Relations Technician
With being stuck inside for the past year, 2020 became the year of videos, making some businesses embrace a digital approach and adopt new methods of marketing. From this, we can look at the key shifts for video that happened last year.
The latest report from Vidyard looks at 2020 video completion rates and other benchmarks.
Here are the key findings:
The average length of business-related videos increased from 4 minutes in 2019 to just over 6 minutes in 2020. That said, the majority (60%) of videos produced for business purposes (such as to support sales, marketing and communication efforts) are 2 minutes or less, with 37.3% being up to one minute long and another 23% being 1-2 minutes long.
Vidyard reports that with the cancellations of a majority of in-person events, videos over 20 minutes long saw an increase of 66% over 2019. It also pointed out that videos between 2 and 10 minutes have also increased, presumably “leaning on the trend of frictionless, self-service buying experiences to provide educational content to prospective customers upfront.”
With video content increasing, we need to keep in mind people’s attention spans. If you’re producing long-form videos, consider making simple cuts to keep your audience engaged or trim the video down.
Video is a powerful medium and adds value to your business.
Did video length for your company’s videos increase last year?
