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Measure Value, Not Activity

30 Aug

Are You Measuring the Right Results?
Business People Meeting Growth Success Target Economic Concept

Open rates, click through rates (CTRs), and conversions are just a few of the metrics most B2B marketers tend to use when determining the results of their work. But are those really the best metrics for determining success?

According to new data from Forrester, not necessarily. More and more B2B marketers are now struggling to tie these results to revenue. The truth is that while the metrics described above do a good job in a vacuum of helping marketers determine whether their marketing is working, they don’t necessarily shed light on whether or not the marketing efforts are generating real dollars for the business as a whole.

Increasingly, it’s not just CMOs who are looking at marketing results, it’s the CEOs. They want to see a direct correlation between marketing spend and sales generation. If the numbers don’t work out, then the marketing department or creative agency might not work out either.

Despite the demand for revenue-based results looming above them, B2B marketers are still struggling to deliver these types of results. So what is complicating their efforts? According to the article, there are several main challenges:

  •  Internal data is difficult to collect, connect, and analyze given the silos that exist in many workplaces.
  • Too much data! Marketers have access to more than ever before, and sometimes it is difficult to cut through the clutter.
  • Marketers aren’t always “numbers people.” Think of the best ones you know—they’re usually creative types who may not have developed the analytical skills necessary to excel—no pun intended.
    Marketing is a subjective field, but by looking at the right numbers and presenting them to the right people, B2B marketers can convert numbers into usable information that can drive real results for the business. (For some fabulous tips about presenting results to others, read this blog by an account service professional at ER Marketing, Matt Bartlett.)

Testing subject lines and measuring open rates and CTRs is great, but only insofar as it improves your approach to your marketing goals. If it helps you fine tune your approach, all the better. To prove your worth as a B2B marketer, you need to start measuring the value of what you do, not just the activity.

To read the full article about the Forrester findings, click here.

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Go for the B2B Gold

11 Aug

Butterfly Stroke Swimming Champion

The Olympics Inspire B2B Excellence

The Olympics has become one of the most anticipated events throughout the globe. You may even have favorite athletes or events that you always enjoy watching. With such stories of triumph, unity, and humanity the Olympic brand is personal and inspirational. From watching some of the games with my family, I realized that they can teach B2B marketers a thing or two when it comes to creating a long-lasting brand and engaging audience experience.

According to Sponsorship Intelligence, the Olympics not only wins on appeal, but scores higher than many other global brands on values such as inclusiveness, inspiration, and excellence. The games strive to bring the world together through sport, and its overall movement is for a higher purpose—going above and beyond consumer expectations.

Although the colorful rings are one of the most recognizable and beloved logos, branding doesn’t just stop with a logo. Branding is essential because it shows the development and thinking behind who your company is and why people will connect. These days people are bored of perfection, and throughout the Olympics there is a healthy amount of achievement, as well as humanity. A powerful moment in Olympic history that captured hearts across the globe was Jamaica’s first-ever bobsleigh appearance, and although they went medal-less, their story was so inspirational that it even led to a Disney movie.

During the Olympic games, the moments that have been most memorable for fans have showcased the personality of individual athletes, their “brand,” like Carl Lewis or Michael Phelps—it’s the people who define the movement for fans. It’s important to realize that while you may be marketing for business-to-business, there are people who are making the decisions within each interaction and are who you need to build relationships with. By doing so, your business can create its own legacy.

Whether it’s watching Michael Phelps win eight gold medals in 2008 or fans being inspired by the 2012 London Olympics to get out and get active, the Olympic brand tells a story of inspiration that virtually anyone can relate to. Most importantly, the experience for both fans and athletes from around the world is unforgettable. As B2B marketers, we need to strive to create shareable moments, just as the Olympics did with record-breaking tweets during London’s 2012 opening ceremony. Engaging with your audience across your brand’s many different channels to reflect your brand’s true personality—and for transparency—results in winning the gold.

So whether you are a marketing giant, or a triumphant underdog, this year’s games serve as a great source of inspiration for both branding and customer experience. Take heart like an Olympian, and bring your brand center-stage with inclusiveness, inspiration, and excellence.

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When to Use PPC Advertising

4 Aug

PPC,pay per click written on blackboard

When so many obstensibly free options are available to promote your brand, it can feel like Pay Per Click (PPC) advertising is a waste of money. However, there are a few things you can accomplish with a PPC campaign that would take months to accomplish with blogging, social media posting, and other earned media. Not sure if PPC is right for your goals? These are a few times when PPC is the right pick:

When You Want to Build Traffic Quickly

Organic traffic is highly sustainable once you build the content to get people to your site, but it can take awhile for your work to show results. PPC allows you to put your site in front of a lot of people all at once, giving your brand a giant traffic boost.

When You Want to Focus on Specific Geographic Areas

Trying to build traction in a new city? Geotargeted ads can allow you to use your PPC budget to hit exactly the audience that you want. Choose by city name or get even more granular by targeting zip code by zip code. You can also save money by incorporating negative qualifications, such as eliminating from your ad campaign any areas where you do not do business.

When You Have a New Product or Division to Promote

One of the benefits of PPC is that it allows you to build momentum quickly. If you want to give a new product a jump start, a PPC campaign that focuses exclusively on what’s new can give you a big boost. Create specific landing pages for this campaign so that you get maximum mileage out of your efforts.

When You Need to Show Measurable Results Fast

It can take a while for an organic campaign to show measurable results and even then, there will always be a need to continue content generation. PPC marketing, particularly on search engines, gives you results that are detailed enough that you’ll know which part of an ad is working and what kinds of users are responding. If you want data quick, a PPC campaign is the way to go.

PPC is part of a robust and healthy digital marketing strategy. By deciding on specific goals and using PPC for the right reasons at the right time, you can make the most of your marketing dollars.

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Swim Against the Tide

14 Jul

Avoid the Trendy Inbound-Only Approach

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Although inbound marketing has become quite the buzzword recently, B2B marketers need to strengthen their outbound marketing efforts for lead generation as well. Inbound marketing can be a great tool for short term results, but the only way your organization can generate successful leads is if you have a balanced combination of both inbound and outbound marketing efforts.

According to a report from Act-On Software and Demand Metric, B2B marketers should focus equally on growing their inbound and outbound marketing tactics in order to optimize their revenue. With 43% of revenue generation coming from outbound approaches and 41% coming from inbound approaches, it is quite clear that marketers cannot solely rely upon the trending inbound efforts.

When used correctly, inbound and outbound marketing efforts complement each other and support one another at every step. Outbound tactics make your presence known, and its content motivates leads to invest in a professional partnership with your company. It can allow you to approach anyone within an organization and target influencers within the company. Inbound creates fast results and a clear path to brand visibility because it encourages new leads to come to you; however, they may not have the same level of influence as those approached in outbound tactics.

The combination of inbound and outbound is preferable to simply choosing one approach, because they lend strengths to one another. Outbound efforts require a higher level of research in order to identify customer profiles, which can come in handy when dealing with inbound leads. Conversely, inbound marketing content can be recycled for outbound strategies and repurposed to fit specific customer profiles. This will further engage your outbound leads, and make them feel that you understand their wants and needs with fresh content instead of staunch and more traditional approaches.

Your inbound and outbound marketing mix will depend on how your consumers behave. Some strategies may rely more heavily on lead generation through inbound efforts with a coupling of outbound. Other, larger companies may rely solely on outbound. Some are now looking to incorporate new strategies to keep up with changing demands of the market. In today’s market it is a poor decision to neglect one approach for the other, instead of having a balance of each because the market is seeking more thoughtful and personalized information. This will also effect increased ROI challenges for marketers as the market becomes more competitive and fragmented.

To find the right marketing mix, you must first understand the need. With many B2B marketers growing more towards account-based marketing, outbound efforts will play a more important role than it has been given credit for recently. The way in which outbound will be used, however, will be more direct and original than more traditional, aggressive sales tactics.

Inbound marketing has by far set the standard for personalization and catering to your leads wants and needs. It allows for you to leave them wanting more while also informing them of what they need to know. Whitepapers, emails, and social media content has allowed for more approachable lead generation efforts, but again will be most effective in the long-run when paired with outbound tactics.

While inbound lead generation is the “next big thing,” there have been clear advantages that outbound efforts have proven to turn into revenue. Since we have recently seen success in different and more direct outbound tactics that have led to converting leads into new client relationships quickly, this challenges the notion that only inbound efforts will bring new leads into the sales funnel. Since there is less pressure applied and the viewership is more spread out, inbound is excellent at nurturing new leads, but it is not necessarily faster than the efforts of outbound lead generation. The important takeaway is that a balance of inbound and outbound marketing tactics will provide a more well-rounded lead generation strategy.

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Separating Media Usage Fact from Fiction

8 Jun

New Media Usage Surveys Provide Insights into the State of Marketing

dma-response-rate-report-2015

With all the marketing-related tips, tricks, and think pieces floating around the internet, it can be difficult to separate fact from fiction. Whether it’s in the realm of B2B, B2C, content marketing, or any other subset of marketing, you’re bound to find a few hot takes out there claiming everything from “direct mail is dead” to “email is passé” to “data trumps creative.” Most of these opinions are meant to push people in the direction of digital-only marketing strategies.

Maybe some of those opinions are true, and maybe some of them aren’t. The point is that trying to find the truth in an ever-changing industry like marketing can be difficult, especially with so many voices and thought leaders speculating about it. We all want to be the edgiest and latest to adopt new trends, and sometimes that pushes us to take edgier stances on what’s next for marketing.

I recently read through some stats on different marketing communication tactics, and as it turns out, the truth might lie somewhere in the middle of all the rhetoric. (Shocking, isn’t it?) Here are a few of the findings that stood out:

Fact or Faction: “Direct mail is dead.”

Fiction. Direct mail is alive and well. In fact, 69% of marketers are actually holding their direct mail budgets steady or increasing them. (Source: Target Marketing’s 2016 Media Usage Survey)

Fact or Faction: “Print is dead.”

Fiction. Marketers spend 28.5% of their marketing budget on print and direct mail related campaigns. 8 out of 10 American adults said they prefer to read a printed piece than an online piece. (Source: Target Marketing’s 2016 Media Usage Survey)

Fact or Faction: “Digital marketing is more cost-efficient than direct mail.”

Fiction. Here are some numbers about the cost-per-acquisition for various media categories: (Source: DMA’s 2015 Response Report)

  • Direct Mail: $19
  • Paid Search: $21-30
  • Internet Display Ads: $41-50
  • Email: $11-15

So what’s the takeaway? Simply put, marketers need to temper some of their more bombastic predictions about the future of marketing. Moving forward doesn’t mean abandoning the tactics that have worked well for years; it means combining those tactics with smarter, more insightful approaches that integrate the old with the new.

For example, a strong data approach will empower “outdated” tactics like direct mail and print to drive success. But neither an all digital nor an all traditional approach is likely to be the answer—smart marketers need a blend of the two.

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