Survey of audience: Start-up versus mature Company size B2B versus B2C
Today we’re going to work with the fictional Bob’s Boxes. Fortunately, Bob has a rich Uncle, so he can afford marketing.
Brands have tremendous value. I’ve seen sales of substantial companies fail over brand rights.
Some touches are primary, others secondary: DeMattia trailers AATA buses PWB business cards
The brand challenge is that to be effective, you have to consider both. Look at Siemens PLM – part of one of the world’s largest brands, but we need to brand our division. Similar experience at GE Plastics. We don’t make refrigerators.
Brand value calculated by: Economic Profit X Role of Brand= Branded Earnings Branded Earnings X Brand Strength= Brand Value Brand Strength is a matrix of internal and external factors.
All of your actions that touch the marketplace impact your brand. Just look at re-branding of the major banks post-bailout.
You know you have a great brand when you don’t even need to use the brand’s name Own something – color (UPS brown), sound (Intel), etc.
Would you believe that this is a 3-person company located above Rob Moroni’s garage? Though small, they are powerful and need to talk to a C-level audience.
Even the ultimate tool of versatility – the Swiss Army Knife – is a differentiated brand.
I borrowed this from Geoffrey Moore. But, it’s OK since he borrowed much of his stuff from Everett Rogers and never credited him until book #3.
Great clip sums up my view on strategy and targeting. Without a strategy, how will you know if you’re going the right way?
Without strategy, you waste: Time Money Opportunity
A classic sales adage applies…
The journalistic model is often a good place to start. If your strategies incorporate all of these elements, it’s a solid foundation.
Geographic – Route 128 corridor Boston, Minneapolis, Austin Job title – Purchasing, Materials Management, Quality, Logistics Behavioral – purchasing responsibility for packaging, membership in MDMA Demographic – under 1,000 employees
Another old sales adage applies…
Without metrics, how will you know what worked? What didn’t?
Data is important, but in marketing it’s more about trends than being absolute.
Measure what matters TO YOU!
KPI’s (or Key Performance Indicators) are the measurement metrics that matter to your organization.
What’s a lead worth? If you don’t know what constitutes a lead, you’ll never be able to figure it out. Be careful of changing criteria over time; invest in figuring it out up front. Don’t make it too complex – Haworth 16 criteria
If you don’t already have a well-implemented CRM, this may be an area that merits professional help Use the tools you own Find a dashboard that rolls up several tools
Understand your cascade See how you’re performing against your cascade These metrics will help you get sales engagement
Leads per period Raw Qualified Converted Trade show performance Raw leads Qualified leads Sales trends Product mix % Web site traffic SEM performance
April 2012 - Marketing Roundtable - Sean Hickey
pwb marketing communications Marketing Roundtable B2B Box of Tricks 10 April, 2012
Overview of Tonight• Interactive session• A little PowerPoint, a little brainpower from you• Topics • Positioning • Targeting • Metrics
Let’s Meet our Contestant…• Bob’s Boxes, LLC • Unique, sterile solution for packaging medical consumables • Arrives sterile; easily sealed to stay that way • Suitable for a wide range of sizes from small parts up to mattresses • Solid budget available for marketing • Sold through independent rep force
Brands are Primary"If this business were split up, Iwould give you the land and bricksand mortar, and I would take thebrands and trade marks, and Iwould fare better than you."John Stuart, Chairman of Quaker (ca. 1900)
What Is A Brand?• A brand is every place you touch a customer, employee, or influencer • Far more than your logo • Far more than your advertising
Two Facets• Awareness – that is do people know your name?• Association – when people think of your brand, what images, qualities, and other facets come to mind?
Brands Are Valuable**Source: Best Global Brands 2011, Interbrand
Think About these Brands • Disastrous pricing strategy change completely altered this brand • Policy change drastically impacted and devalued this brand • The logo is only a small part of this brand
Brands Don’t Have to be Big• A comprehensive brand for a unique healthcare benefits consultancy. With three employees…
Positioning• Being all things, to all people, at all times isn’t believable to buyers• The hallmark of a good brand is an effective, unique position• Positioning is as much about what you are NOT as what you ARE
Positioning StatementFor… Senior managers(target customer)Who… Want to increase revenue(statement of need or opportunity)The product, company, or service… A brandIs a… Compilation of assets that form an(product category) impression in the buyers mindThat… Helps buyers understand the value(key benefit, compelling reason to propositionbuy)Unlike… Random, unfocused efforts(competitive alternatives)Our product… Drives additional revenue through a(primary differentiator) perception of added value
You Try It Let’s form some smallgroups and help Bob out…
Positioning StatementFor…(target customer)Who…(statement of need or opportunity)The product, company, or service…Is a…(product category)That…(key benefit, compelling reason tobuy)Unlike…(competitive alternatives)Our product…(primary differentiator)
Here’s Mine…For… Medical device and consumables(target customer) manufacturers and distributorsWho… Need to deliver sterile products to end-users(statement of need or opportunity)The product, company, or service… Bob’s BoxesIs a… Packaging supplier(product category)That… Ensures delivered products are sterile(key benefit, compelling reason to buy)Unlike… Traditional corrugated packaging(competitive alternatives)Our product… Makes it easy and cost-effective to ensure(primary differentiator) sterile arrival of consumables and supplies
Why are Metrics Key?• Ability to judge progress toward goals• Improve the link between marketing and sales• Helps justify marketing investments• Provides feedback on performance of specific initiatives
The Nature of Marketing Data• The value of data builds over time• Marketing data is relative, not absolute• Data helps you monitor success and burnout• Don’t get too hung up on benchmark data you find online
What Do I Measure?• Impressions• Cost• Actions • CTR/call volume • Form completes, registrations, etc. • Setting goals is key• Pipeline $$$
Key Performance Indicators• KPI’s are the items that matter to your business and your marketing plan• Goal-setting is important• KPI’s should roll-up to an integrated dashboard, if possible
What is a Lead?• Need to establish criteria for a lead• Common scenario – budget, decision- making authority, and an active project • A lead = all three • B lead = any two • C lead = one
Metrics Tools• Reports from your CRM• Google Analytics for online efforts• Constant Contact or other e-mail tool• Other?
Dashboard• Lead volume, classified by grading • Current period • YTD• Top lead generation vehicles• Worst lead generation vehicles• Performance against goals
You Try It Let’s form some smallgroups and help Bob out…
Key Takeaways• A differentiated brand is a more efficient brand; positioning is key• Think about who you’re targeting so you’ll waste fewer resources• Understand how you’ll know if your efforts paid off