by tradesmeninsights | Oct 16, 2012 | Marketing Tips, Traditional Marketing
Depending on what industry you’re in, the rule of thumb is that it takes anywhere from 5-9 times more effort to get a new customer than to keep an existing one. So why don’t we spend more time nurturing the ones we have?
We’re all guilty of taking customers for granted sometimes. I read an article on marketingprofs.com, The 7 Ps of Customer Retention that I thought was appropriate. Here are some highlights:
- People – It’s about building relationships. Treat your customer as a person.
- Product – Make sure your product is up to what you promised it would be.
- Place – How does a customer communicate with you? Make it easy.
- Price – You need to take care and give them a good price. They expect you to take care of them.
- Promotions – Since they are already your customers, you know what they are buying and can make suggestions for other potential products/services they may be interested in.
- Processes – Customer surveys, social media monitoring and customer engagement tools to understand how each customer is engaging with you.
- Positioning – Know who you are and clearly communicate that to your customers. Keep the message simple and to the point.
Those are some suggestions on how to keep your current customers happy.
by tradesmeninsights | Oct 10, 2012 | Marketing Tips, Marketing Trends, Traditional Marketing
I recently attended Content Marketing World in Columbus where I got a glimpse of the 2012 Channel Preference Study by Exact Target. The study gives insights to different channels – direct mail, email, Facebook, LinkedIn, Google+, Mobile Twitter and SMS.
What surprised me in this world of “Post PC Era” where mobile seems to be taking over the world, that the old standbys of direct mail and emails are still alive and well.
Email is by far the most acceptable due in part to the channel’s familiarity, flexibility and universality with 91% using it on a daily basis. The key to success today is audience segmentation, data-driven insights and relevant content.
Direct mail – in an online world, the fact that 65% of consumers have made purchases as a result of a direct mail piece validates the channel. Interestingly, direct mail is the only unsolicited message that isn’t viewed as inappropriate by consumers.
So from a B-to-B point of view, what are you doing to capitalize on these two channels?
Here are some tips:
- Keep your message targeted and to the point.
- Give them a solution to a problem and don’t necessarily try to sell them something.
- Use a list that is focused. More is not necessarily better.
- Make an offer clear.
- Give them an easy way to respond.
Those are some suggestions from me. What are you doing to capitalize on these two channels?
by tradesmeninsights | Oct 9, 2012 | Marketing Tips, Traditional Marketing
We’re so focused sometimes on our traditional ways of promoting our products that we sometime overlook the obvious. Today we have a guest post from Jeff Drust, VP Marketing at CDS (Catalog Data Solutions). CDS is a leading provider of software for product search, configuration and online CAD solutions. Enjoy.
Marketing organizations need to continually come up with new ways to get in front of the ever evolving selection and buying process. Industrial part and component suppliers can now do this in a more efficient way; realign their selling processes with the new buying process and turn it to their advantage with a new content type – CAD downloads like Brennan Industries.
CAD downloads as a type of marketing content, are both highly relevant and valuable to both parties. Industrial suppliers offering CAD downloads of their components (e.g. bearings) or engineered products (e.g. motors) create multiple benefits:
- Adapt and exploit the new online world. Today, industrial suppliers’ websites are frontline sales tools that must help customers quickly find the ‘right’ product and conveniently save designers’ time when they spec your parts into their new designs ahead of the traditional buying process.
- Increase sales. CAD models are the only type of online marketing content (e.g. white papers, case studies, brochures, videos, demos, recorded webinars, reviews, etc.) I’ve heard of leading to a sale nearly 50% of the time they’re downloaded!
- Reach the real decision maker – influence the purchase process. Get selected at design time by the design engineer – the true decision maker. The more complex your parts are to draw (even a caster is complex to draw in 3D), the more design time you save customers and the more valuable your models are.
- Reach new customers. Research into design engineers’ opinions shows that 97% rate CAD models important when selecting a supplier.
- Decrease errors. Using the manufacturers’ CAD models should help eliminate potential CAD errors.
- Generate low-cost, high-quality sales leads. Obtain sales leads in return for CAD model downloads – for one national distributor these leads cost ~90% less, convert faster and convert in higher proportion than traditional marketing generated sales leads!
- Increase existing customer satisfaction and loyalty. By saving customers time and accelerating their time to market.
- Obtain a competitive advantage. So far less than 10% of manufacturers offer downloadable CAD models.
- Lower costs. Replace technical sales requests for CAD models with automated self-help downloads.
- Enhance your distribution channel. Enable all these benefits within your distribution and OEM channel partners and make sure your CAD models are found online at sites like the CAD model search engine, 3DModelSpace.com.
If you’re interested in case studies and testimonials on the use of this type of content, search for “online cad downloads case studies” or see some at https://www.catalogdatasolutions.com/.
by tradesmeninsights | Oct 3, 2012 | Marketing Tools, Traditional Marketing
By Matt Sonnhalter, vision architect at Sonnhalter.
I don’t think any manufacturer out there would argue the importance of training. What manufacturer wouldn’t want to ensure their customers are trained properly on how to use their products or informed on their latest product offerings. Plus, training offers manufacturers a way to further differentiate themselves from competitors as well as continue to build their brand with their customers.
There are many ways to approach and handle training; from how-to videos and online training courses, to traditional, printed instructional manuals and sales people demonstrating products in the field. But sometimes there is no substitute for in-person training.
One manufacturer that is leading the way for in-person training is Viega. I should note that Viega is a former client of Sonnhalter. The Viega Education Facility, located in Nashua, NH, is a stand-alone, dedicated building for training and I have to say, a pretty impressive facility. It first opened up in 2006 and since then, over 10,000 people have completed training sessions. Viega averages over 200+ days of training per year, with attendees ranging from architects, contractors and engineers to apprentices, distributors and even Viega employees. Currently there are over 13 standard courses covered in two-day, three-day or five-day sessions.
Here are some course examples: Radiant Design, Piping and Controls, NFPA 13D Fire Sprinkler, Geothermal & Solar and Commercial Radiant Heating & Cooling. Every year, Viega revamps existing courses and adds new ones to encompass the latest technological advances, industry requirements and the newest practices. You can find details for all the individual training sessions as well as register and schedule your training online at www.viega.us/en/service/training..
I’ve had the opportunity to attend a Viega training session. This 2-day training session was focused on continuing education for media partners and included editorial staff from leading trade publications and associations. The training session included classroom discussions about systems and applications within residential, commercial and industrial environments as well as hands-on time to experience several manufacturers’ products and tools.
We were exposed to many different technologies and options as the training was not exclusive to Viega’s products. I personally had the opportunity to experience a wide variety of hands-on applications, from threading pipe and installing a radiant flooring system to pressing various materials (copper, stainless steel, PEX, carbon steel pipe) with the Viega ProPress® system.
It is great to see the level of commitment Viega continues to put behind training and education. I realize not every manufacturer can have a dedicated training facility or the resources to support it, but every manufacturer should have some level of product training.
What are you doing to ensure you are keeping your customers trained?
If you liked this post, you might want to read:
Podcast: Why Online Training Gives you the Edge.
by tradesmeninsights | Aug 22, 2012 | Marketing Trends, Social Marketing, Traditional Marketing
GlobalSpec recently released its annual marketing trends report for the industrial sector. The online survey identified trends, challenges and anticipated expenditures in the Industrial market.
Their surveys usually give a relatively good pulse of what’s happening in the space. As I said in my headline, it should come as no surprise that the Industrial market is holding its own especially when you compare it to the last few years.
Here are some highlights:
83% of companies anticipate increased sales over 2011
35% of companies are spending more on marketing in 2012
67% said customer acquisition/lead generation is their primary focus
68% said they would increase spending on webinars
It seems like lead generation is still at the top of priorities. It’s good to see that companies are starting to integrate digital and traditional marketing programs together with online taking more of a role. It was also nice to see more and more manufacturers are starting to use social media with LinkedIn being the most used followed by Facebook.
The report is only 18 pages and is an easy read. Hope you get something out of it.
by tradesmeninsights | Aug 21, 2012 | Marketing Tips, Traditional Marketing
Customer service. We all say we have it, but what is it? Where does it start?
Unless you are offering something you can’t get anywhere else, then you’re going to have competition from someone. So what makes your customers or potentials want to do business with you instead of them?
Assuming you have a good product then I’d say the customer experience would be the major deal sealer or breaker. Customer service starts the moment someone from your company answers the phone through the sales process and follow-up with your customer service department if a question or problem arises.
I guess what I’m trying to say is your company’s customer service should start with every employee. Those that are on the front line (be it a CS or delivery man), they have the one-on-one contact with the customer and can sway future purchases by their actions or inactions. We all build our business around repeat sales so everyone in the company needs to be goodwill ambassadors. The challenge for all of us is to find the friction in our process and smooth it out.
Let me give you two examples of positive CS experiences.
1- I recently had to go to Buffalo for an association/trade show for one of our new clients. The host hotel was the Buffalo Hyatt and we stayed there. They were going through some renovations like any other hotel, but I seemed to notice that everyone who worked there had a very positive attitude that was focused on the customers and it showed. When we checked out and our car came from the valet, it was filthy dirty (it was clean when we checked in) and I come to find out from the valet that they park guest cars outside so they can retrieve them quicker for guests. Needless to say, the positive experience of the last three days was ending on a sour note. The next day (Sunday), I get the standard thank you for staying at the Hyatt, yada, yada, yada, and if there is anything that we could do to improve our service, please email me (general manager). So I did, explained my story and in less than 15 minutes had a response from him apologizing and crediting our bill for $30 to get a car wash. The end result when/if I’m back in Buffalo, there is a better than 50/50 chance of me staying there again.
2- At that same show, I had the chance to talk to several dealers for this new client and asked them why they did business with Buyers Products. They all said it was because they made a good product, but more importantly the main reason is they did what they said they were going to do, when they said they were going to do it, and if any problems arose, they had their back with any product problems. Several told stories of how they needed product over the weekend and their salesman would actually deliver it to them before Monday morning. They are in a very competitive market and are growing at a pace that outsets the industry standards. Wonder why?
The key for us all is to follow our customers’ experience. From how they find out about you through the repeat orders. If there is friction along the line, work to smooth out the process so your customers have a positive experience.
