Snapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdf
Roundtable session 2 Takeaways
1. 1
Small Changes, Big Impact Takeaways
Round 1: We all have budgets
Question: How do you measure where money should be spent?
Answer: By using target audiences, trial & error, mining data for more information
Question: How do you know you are investing your dollars in the right places?
Answer: Having a goal set up and knowing your audience really well. By using trial & error and
adjusting the quality of conversions. Using platforms where your audience is. Lastly, who's giving
you pressure? How can you better assist them?
Question: What are some low cost, high impact successes you have implemented in the
past few years?
Answer: First of all, low cost is relative - definitely depends on company. PPC + SEO has been a
successful combination for generating leads. Remarketing ads have been helpful - very low cost
per click. Another one is cross-sell promotions. Try leveraging your vendors for money.
Question: How do you decide how much to allocate when testing new channels, and how do
you get buy-in?
Answer: Start with research. Where is the audience hanging out? Establish sales potential.
Sometimes there is a budget for experimentation - use that! Make sure to look at established
benchmarks in the industry. There is value in failure. It's always better to try than to do nothing.
Question: What channels or tactics are you reluctant to test based on budget?
Answer: What is the KPI - it would be great to know that up front (not always possible though).
Google AdWords, some SEO can be hard because it doesn't happen right away and takes a lot of
time.
Question: What is your go-to advice for allocating marketing budgets?
Measure things and go with what works. If you follow only data - you're just like everyone else. Use
a small portion to do something different and stand out. Experimenting is always a good idea
Bonus takeaways:
-SEO & PPC can work great together if you do it correctly.
- Use resources that are available to you (Case studies that have been done, research that has
happened etc.)
Round 2: We all need partners. Lets talk about our strategic alliances.
Question: Where do you find strategic alliances?
Answer: Sharing content with partners, conferences/associations/networking. Analyzing sales
channels - when is it a good time to partner? Also consider using volunteers.
Question: What value do you bring to a strategic partnership? What matters?
Answer: Simplify the buying process for customer. Have the ability to enhance end product. A
company that might have special expertise for complex problems. Combined expertise = more
value.
2. 2
Question: How do you define expectations with strategic partners?
Answer: Be careful to balance. Set clear expectations and make sure to have a point person to go
between. Creating respect and a good reputation is key.
Question: How do you make sure you have found a partner that will make a big impact?
Answer: Get insight from departments on partners. Rely on customer feedback. Make sure
customers are taken care of and make sure it is not one sided. Don't alienate anyone.
Question: What qualities matter most for a successful, long-term partnership?
Answer: Trust, transparency and respect. Often times, similar size companies give similar value in
what you get out of a partnership.
Question: What have you done to increase the impact of your strategic alliance? (i.e.
sharing comparative data, buyer personas, or business plans with your partners?)
Answer: Joint events. Seminars & Webinars
Round 3: We are constantly working to stand out. What are some out-of-the-box initiatives
that are low-cost, high return?
- Anything 1:1 or in person, community involvement, networking to make impactful conversations,
- Co-op programs
- Content marketing
- LinkedIn Blog posts- active use and requirement for employees
- PR
- Offering information or consulting
- Education materials (eBooks/email marketing)
- Making your company accessible and easy to do business with
- Internal training, in person education
- Offering free samples, try out a product with the ability to send back
- Thank you's showing appreciation
Round 4: We have to make choices.
Question: What new digital channels are on your radar?
Answer: Video - new approaches to video. Instagram stories which offer an ease of use and great
speed on a low budget. Also LinkedIn
Question: How do you evaluate a new digital channel?
Answer: Are they getting traffic/natural SEO - use a data approach first – and if you’re not seeing
results, it’s generally a good idea to go to the experts for help
Question: Which channels are your smallest/biggest spend and why?
Tradeshows tend to be larger spend; maybe move some budget to digital? Literature is also a big
spend (more traditional.) Smaller spend - content creation in-house (have someone do it at a lower
cost)
Question: What choices have you made that produced the most surprising results?
Answer: Shifting from traditional trade shows & publishing. A big surprising came from using email
campaigns. Educating prospects and customers.
3. 3
Question: What digital channels have proven most successful?
Answer: Email & content together as long as it’s segmented correctly - make sure to target the right
people.
Question: Let’s talk about failures: What hasn’t succeeded and what might you do
differently to get different results?
Answer: Telephone - cold calling, PPC, LI campaign - DIY, need a professional to help.
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