by tradesmeninsights | 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…
by tradesmeninsights | Mar 4, 2010 | Marketing Tips, Marketing Tools, Traditional Marketing
We’re all focused on generating more leads these days, but I find it ironic that most companies don’t do much with them once they get them. Simply fulfilling a request is not the answer, but yet many companies do just that. According to a recent survey of people who have requested info suggests that 80% of all sales are made on or after the third contact. The survey conducted by Marketing Best Practices, Inc. polled over 700 respondents with only 8% buying after the first call.
David Frey, the senior content editor of www.MarketingBestPractices.com and author of several marketing books advises, “An educated prospect is your best prospect, and if they haven’t become a customer it’s because you haven’t fully educated them on value of your product and developed a relationship of trust.”
Why do many businesses have a problem following up with their prospective customers? Mr. Frey explained, “The problem is not that small businesses don’t have the capacity to follow up with prospects, it’s that they don’t have the systems in place to do it well.” In his recent newsletter, “Follow-Up Marketing: How To Win More Sales With Less Effort,” Mr. Frey advised, “A good follow-up marketing system should have three attributes:
1. It should be systematic.
2. It should generate consistent, predictable results.
3. It should require minimal physical interaction to make it run.
This leads to a more pressing issue and that is, what is the difference between sales lead management and a CRM tool? According to Russ Hill, President of Ultimate Lead Systems:
Sales lead management is a sub-function within an overall CRM strategy. Traditional CRM programs like Salesforce.com, SalesLogix, ACT, Goldmine, Maximizer and others focus on the sales person entering and managing his own data and pushing it “up” to management.
Sales lead management starts with management generating and capturing leads from all sources, fulfilling information requests and delivering them to the sales channel and tracking follow-up and sales results to measure marketing return-on-investment.
Here are some other interesting facts:
INQUIRIES MEAN NEW BUSINESS!
67% of all inquiries are from legitimate prospects with real needs.
34% have current needs that must be satisfied within 6 months!
70% did not know the company made the product before seeing their ad
. . . making them NEW PROSPECTS!
A six year study* of nearly 60,000 inquiries conducted by Penton Media Company also found that:
43% of inquirers receive literature and information too late to be of use.
72% of inquirers are NEVER CONTACTED by a salesman.
25% of sales contacts are made at the inquirer’s request.
40% of inquirers purchase the advertised product, a competitive product or change their suppliers.
* NED Reader Action Reports
The key is to get a lead management system in place that can help your CRM convert those leads into sales.
by tradesmeninsights | Feb 10, 2010 | Marketing Tips, Social Marketing, Traditional Marketing
With all the hype about social media, some marketers are going too far and have started ignoring traditional tools that have served them over the years, primarily PRINT.
Yes, we all should agree that social media is much more active currently, especially with the state of the economy. Social is cheap when it comes to outside costs, but you need to factor in internal costs for all your social media activities. Too many marketers this last year have bypassed print because of budget cuts and have concentrated more on social media.
You also need to realize that social is a long-term strategy of building thought leadership and relationships, while print ads are another way of hitting targeted audiences with specific calls to action that can translate into short-term sales. In our space of marketing to the contractors and MRO markets, print publications have already identified and have gained credibility with these folks. Books like Contracting Business have put together a good offering of both print and online offerings to reach their audience, the HVAC contractor.
Here are some things for you to consider from Magazines Publishers of America:
- Magazine readership increased over the past five years
- The number of issues read has gone up as well
- Subscriptions are the highest in a decade
- The number of consumer magazines remains high
- The age of magazine readers consistently trends younger than the total adult population
- Magazines are the #1 medium of engagement
- Magazine ad effectiveness continues to rise
- Magazines excel in driving web search
- Magazine readers are social networkers and word-of-mouth influencers
- Magazine brands continue to evolve
There’s a place for using all the marketing tools that are available to us. As we go into 2010, don’t forget who got you this far. It’s been primarily print in the B-to-B sector. If you don’t believe me, ask your customers.
by tradesmeninsights | Jan 27, 2010 | Marketing Tips, Traditional Marketing
Sometimes we take things for granted and can tend to become complacent when using tools like e-mail marketing. We think we know it all since we’ve been doing it for so long, but we may have lost sight of what made e-mail so successful in the past.
A recent post by Curtis Jackson, What are the top 10 e-mail marketing mistakes, got me thinking that we should all evaluate the processes we have in place regarding e-mails. Here are my 5 top things to avoid:
- No Strategy – When you first started using e-mails, didn’t you have a written strategy of what you wanted to accomplish and how you were going to measure it? How are you doing?
- List updates – When was the last time you updated your list? Have your open rates been increasing or decreasing? How about undeliverables? That brings us to the next point.
- Ignoring metrics – If you’re actively doing e-mail marketing, you have to be using some tool like Constant Contact to help you manage your programs. They have metric tools built in to see how successful the actual e-mail was (both in content and delivery).
- Missing an opportunity in your top line message – Chances are your message will be viewed in a preview pane. Make sure your top line message includes a link to a web-based version.
- Timing – Tuesday at 10 a.m. may not be the most opportune time to reach your audience. Test out different combinations to see what works best for your audience.
Those are my thoughts. What are you doing to ensure you are getting the most out of your e-mail marketing?
by tradesmeninsights | Jan 26, 2010 | Marketing Trends, Traditional Marketing
As most of you know by now, our marketing company works primarily with manufacturers who sell to the contractor marketplace. You don’t have to be a rocket scientist to figure out that the economy in 2009 wasn’t good to most contractors, especially those whose primary market was new construction.
To that end, we did phone interviews with 22 contractors across the country in the last quarter of 2009, primarily in the HVAC and plumbing markets, to get a better sense of how they are surviving and what’s on their minds. We chose these types of contractors because they not only do new construction, but also do service and replacement work which we thought would give us a better read on the consumer as a whole.
Here are some highlights:
- Contractor’s sales – Were off between 7 to 15%. Some were off as much as 25% and some (2) had actual sales increases in 2009.
- Commercial business – Started to come back late 3rd and early 4th quarters.
- Government stimulus package – Helped in increasing sales (more in HVAC than plumbing).
- Biggest concerns – Tight credit, finding qualified people and big government.
2010 – Most contractors are cautiously optimistic. They know they will have to work smarter in ’10, but believe the opportunities will be there from both new business as well as competitors going away.
A link to get a copy of the white paper will be sent to you when you sign up for my newsletter here.
by tradesmeninsights | Jan 13, 2010 | Marketing Tools, Social Marketing, Traditional Marketing
In an ideal world, every lead from every source would be waiting to hear from you so they can place an order. Please pinch yourself and wake up, this only happens in dreams! People respond for different reasons and it’s marketing’s job to sort out the wheat from the chaff in the lead generating process.
So many programs fail because the leads sent out to the sales force haven’t been qualified. The guys in the field are hunters and gatherers, and if someone isn’t ready to buy, then they are put in the dead file. Just because they aren’t ready to buy today doesn’t mean that they aren’t a prospect.
There are different stages in the selling cycle from awareness to loyalty and advocacy. Each stage requires a different message in order to move them up the development ladder. If you can identify what stage a lead is in, marketing can nurture leads along until they are ready to buy.
