Effective B-to-B Marketing Strategies for Today’s Economy Looking Glass MarketingSeptember 2009www.lookingglassmarketing.com

What’s Happening Today? Where are marketers spending budgets?Marketers are investing more in online tactics (14% increase) than traditional methods (3% increase)Less expensiveEasier to measure ROI

Online Spending Focus Spending more on online tactics including:Social networkingEmailingPPC

Some RecoveryMore budget cuts seen earlier in 2009 with some starting to see budget increases nowMarketing budget reductions are getting smallerFewer respondents were planning cuts greater than 20%More marketers said they anticipated lesser cuts, especially reductions of 1% to 5% Source: eMarketer Inc., www.emarketer.com

When Will Things Improve?Most marketers – in small and large businesses – look at first half of 2010 as the year the recession begins fading away and we see significant growth Based on history, average length of a recession is 8 - 16 months

Recommended Focus Mix of online marketing and traditional tactics:Online/Inbound marketingWebsiteSEOBloggingSocial networkingNurture marketingReferral marketing (referral sources and existing customers)

Online Marketing

Online/Inbound MarketingInbound marketing defined – attracting people to your businessFocus on your website SEOBlogSocial networkingContent is key

Inbound Marketing“Inbound” marketing (using the web to help drive qualified prospects) can be much more cost effectiveAttracting prospects who are interested in your products/services, offers/content, and company Higher number of leads are going to be qualified because they are seeking you outAverage cost-per-lead is significantly less than what it would cost for leads generated through traditional outbound marketing techniques

WebsiteContent:Content on website consumed differently than on paper: 79% of users scan the page instead of reading word-for-word Reading from computer screens is 25% slower than from paper Web content should have 50% of the word count of its paper equivalent Clear, concise, easy to view—and repeated in several ways, on several pages—and easily searchedPut yourself in shoes of the visitor - Include content that your visitors are interested inOffers and Calls to action:Have compelling offers (white papers, events, podcasts, case studies, articles, demos, etc.)Use Action Words - “Learn more.” “Find out why.” “Buy.” “Contact Us.” Visitors appreciate it when you clearly tell them what to do. And why. For example, “Click here to get your free six-step guide to hiring your next IT consultant.”

WebsiteLanding pages: Build dedicated landing pages Don’t send prospects to your home page – make it easy for visitors to obtain informationDedicated web landing pages can nearly double the conversion rates of potential prospects responding to your marketing programs and offersBenchmark:Website Grader (www.websitegrader.com) that measures and scores the marketing effectiveness of a websiteLooks at website traffic, SEO, social popularity and other technical factors and provides some basic advice on how you can improve your website from a marketing perspective

Search Engine OptimizationOptimizing your site so search engines can find youSEO is one of the least expensive forms of marketing with strong ROIAccording to a Gartner and Forbes study, 86% of C-level executives use search engines to find information on products and servicesAccording to HubSpot:25% of SEO is on the actual pages of site (content, titles, headers, keywords)75% of SEO is off page – outside of your site (how people are finding you)

Search Engine Optimization On page – Building a foundationPage text, Page titles, URL, Tags -Check out the Microsoft Partner Network - Marketing Pointers https://partner.microsoft.com/US/salesmarketingsection/smcampaigns/rtgpointersKeywords - finding the best keywords through research toolswww.goodkeywords.comwww.wordtracker.comGoogle keyword tool -https://adwords.google.com/select/KeywordToolExternalOff page – Links that point to site and search engines pick upThe more incoming links, the higher your page will rankYou can easily pull up a list of sites that link to yours. In Google's search box, simply type Link:yoursitename Get the links by creating great content through blogging, podcasts, videos, press releases, etc.

Why Blog?In Google, Fresher Content = Better WebsiteSites that get crawled more often have more frequent updates and more authority. Blogging consistently ensures there will be fresh content on your site. Every Blog Article is an SEO Opportunity - You can’t realistically optimize your site for every search term, but you can certainly write blog posts targeting niche keyword phrases that are likely to draw highly qualified prospects. Blogs Are Link Bait – Blogging can be powerful from a linking standpoint. People welcome linking in blogs so more links back to your site, means better search engine rankings.Gain Visibility as a Thought Leader - demonstration of your thought leadership, and professional insights.Source: HubSpot - http://blog.hubspot.com/blog/tabid/6307/bid/1676/6-Reasons-Every-Small-Business-Should-Be-BloggingAre-You-Missing-the-Boat.aspx

Getting Started with BlogsSearch out and begin commenting on other people’sblogs:Search for relevant BlogsBlogsearch.Google.comTechnorati.comIcerocket.comCommentingShare an exampleAdd a pointAdd a useful linkDisagreeAsk a question

Company BloggingWriting – Topic IdeasList of 5 ideas, trends or thoughtsPublish a list of linksTake a recent experience and share itAnswer questions you received recentlyTurn a press release into a blog articleJust starting out? Here is a list of free links in blog directories that you can get for your blog with no-reciprocal link requirement:www.blogarama.comwww.globeofblogs.comwww.bloggapedia.comwww.blogflux.comwww.superblogdirectory.comwww.bloggernity.comwww.bloggio.com Monitor and measure your own blog – www.blogpulse.comHelps analyze and report on the daily activity of your blog Who’s responding and linking to blogTrends in blog activity What blogs are similar to yours

Social NetworkingSocial networking involves 2-way communication and the conversationSocial media is a platform that gives businesses a chance to establish a more personal relationship with existing and potential customersForrester Research study showed 92% of B2B technology buyers consider themselves engaging in some form of social media

How Marketer’s View Social MediaDo you agree or disagree that Social Media will…Compliment other tacticsStandard tacticBudget for it

Social NetworkingGetting started:Check out www.searchwiki.com – seek out social networking sitesGet an account set-up and build profilesLinkedInFace BookTwitterLook for Q&A and Discussions to participate in

Nurture Marketing

Nurture Marketing DefinedTerminology:Drip marketingRelationship marketingDefined:Initiating a conversation with prospects and customers over period of timeGrowing relationships by sending unique and valued messages to prospects and customers on a regular basisLeave a positive imprint in theirmind until they're ready to buy!

Why is Nurturing Important?Longer sales cycles, increased competition, ever-changing business climate – need to be there when they are ready to buyForget about the one-off effort! According to the Direct Marketing Association, a prospect will need to see/hear your message 3 times to recognize you and a minimum of 9 times to make a sale Nurture marketing process leads to:Better qualified leadsHigher close ratiosStronger sales pipelineShorter-than-average sales cycles

PlanningCreating consistencyMessaging based on who targetingValue-based offersSetting the rhythm:Plan should include:Target List Messaging and ContentFrequency and ExecutionMeasurement

Target ListUnderstand and profile who you want to nurture:What makes up a good customer for your company?What are the characteristics?Industry focus, company size, geography, revenue, etc.What problems does my prospect need to overcome each day?What is the prospect’s top priority right now?Build a list of Prospects, Leads, CustomersProspect = no formal communication or has not responded to your company in the pastLead = Prospective customer who has responded to your communication in past and/or is someone in pipelineCustomer = existing or former customers who have done business with your company

Segmenting the ListSegment your list into A, B and C prospects and customersDeliver communication and offers applicable to each

Message CreationKnow your audience and ask yourself How can we build credibility?How can we show that our products/services will help them achieve goals?How can we differentiate ourselves?How can we become a trusted advisor/expert to prospects and customers?Integrate “pains” messaging: Getting More Organized to Save Time and Money: Do more with reduced time, people, and finances; improve teamwork and collaboration; and stay connected to the business while away from the office. Managing Cash Flow: Make your finance, operations, and other business processes more efficient. Gain better insight into what drives revenues and expenses, so you can improve your financial position and make more informed decisions about where to best invest resources.Finding and Retaining Customers: Find customers more cost-effectively, close deals faster, and improve customer satisfaction.Reducing IT Costs and Risks: Stay focused on running the business—not wasting time and money dealing with network disruptions or fighting fires.

Delivering the MessageWe all consume media differentlyEmail, telemarketing, direct mailNeed to stand-outUse a common theme to break through the clutter and get your message acrossChoose a theme that’s:FunTopicalEngagingMemorable!

Executing the PlanExecution includes:Following a planResources and funding to keep momentumMultiple tactics (direct mail, email, phone)Multiple offers to move your audience along in the sales cycle

Prospect Nurturing ScheduleSetting the rhythm…move prospects along

Monitor and AnalyzeMonitor and analyzeTrack each phase of plan and response – can’t improve what you don’t measure!# of responses and qualified leads# of closesNumber of downloads by offerNumber of appointments madeTrack your web trafficMeasure ROIBe flexible and make changes as necessaryEnsure continued support and funding to continue nurturing

Nurture Marketing ChecklistThink long-term – anything worthwhile takes hard work and persistenceKnow who you want to target and what they are interested inBuild relationships that are personal and respectful Offer information that is educationalConsistency and follow-up is keyMeasure and track

Think long-term – anything worthwhile takes hard work and persistence

Know who you want to target and what they are interested in

Build relationships that are personal and respectful

Offer information that is educational

Consistency and follow-up is key

Measure and track

Referral Marketing

ScenarioDoes this sound familiar?"Two business owners meet at a networking event. Their businesses compliment each other so they touch base after the event and they talk about how they could refer business to one another. But, after they put the phone down, they never talk again."

FeedbackWhat are you doing from a referral perspective?Do you get referrals?Do you provide referrals? Informal? Formal program?

Importance of ReferralsThe act of being referred is a validation of your value and credibilityPotential customer has already been pre-sold Have a high return-on-investment – small efforts that don’t cost a lot of $$Generate high quality customers and business for the companyReferrals allow you work with people you like and perform services that you enjoy

Referral Sources Concept is pretty simple – “People will do business with, and refer business to, those they know, like and trust”So, why don’t we do it more? Good referral sources are also elusive and can be hard to define/identify No plan or strategy to get referrals

Why Don’t We Get More Referrals?What hurts our ability to get referrals?Referral source is not educated on our products/services Thinks you may be too busyQuestions your ability to deliverDoes not feel comfortable putting his/her reputation on the lineReferral source is unsure of what he/she will get out of itDon’t actively seek and communicate with referral sources – no consistency

Possible Referral SourcesCustomers and their contactsVendorsPartnersIndustry association leaders/membersCenters of InfluenceCPA’sBankersConsultants

Getting StartedDevelop list of key referral sources – start smallDevelop plan and calendar to make regular contact Set yourself apart – what makes you different, focus on messaging, offers and theme

Ongoing Communication“Out of sight means out of mind”MailingsTopical articlesReprintsLettersThank you notesMeetingsPersonal, one-on-one meetings SeminarsReceptions, dinners, eventsAssociation activitiesEmailForward items of interestQuick notes, etc.Phone

Mailings

Meetings

Email

Phone

Monitor and Track Number of referrals received/givenTypes of referralsFrequency of contact and type of activityFollow-up effortsClose ratio

Number of referrals received/given

Types of referrals

Frequency of contact and type of activity

Follow-up efforts

Close ratio

Referral Marketing ChecklistCan’t afford not to be integrating referrals into your marketing efforts Start small - develop list of top possible referral sourcesDevelop plan to communicateOffer information that is educationalConsistency and follow-up is keyMeasure and track

Can’t afford not to be integrating referrals into your marketing efforts

Start small - develop list of top possible referral sources

Develop plan to communicate

Offer information that is educational

Consistency and follow-up is key

Measure and track

Final ThoughtsKeep marketing and be smart about budgetsOnline marketing – make greater investment and try new tacticsTune-up your website and SEOSubscribe to top blogs and followProduce and publish contentGet Social Traditional marketing – focus on nurture and referral marketing Track and measure – make sure your marketing $$ are working for you

Keep marketing and be smart about budgets

Online marketing – make greater investment and try new tactics

Track and measure – make sure your marketing $$ are working for you

Looking Glass MarketingMarketing consulting group focused on helping small to mid-market companies grow their business through effective marketing strategies. Services include:Marketing planning and budgeting Campaign development and execution Outsourced marketing managementDirect marketing Collateral creation Telemarketing Newsletters Success stories Website development and strategy Event planning Press releases Contact Jennifer Culbertsonjennifer@lookingglassmarketing.com614-453-5927www.lookingglassmarketing.com44

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