Archive | Sales Funnel RSS feed for this section

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.

Share via email

6 of My Favorite Building Products Manufacturer Apps

10 Dec

Are You Using All the Sales Tools Available to You?

Unknown

As of July 2015, there are 1.6 million Google Play apps, 1.5 million Apple App Store apps, and 400,000 Amazon App Store apps*. The building products industry is beginning to take notice of this phenomenon with apps of their own—apps that can be used to visualize, quote, install, and educate customers about various products and services. These are apps that can make a huge difference when selling and marketing building products, and they should become a strong part of your strategy both in working with pros and consumers alike.

I’ve put together a list of some of the standout apps in the building industry. Of course, the apps most impactful to you will depend on inventory, product relevance, location, and so on. But these are a good sampling of the types of apps you should be looking to as standard-bearers within the building industry:

  • Sherwin Williams ColorSnap® Visualizer: This app goes above and beyond the call of duty for most visualizer tools—what you would expect from a household name. Not only can users see how colors will look in a space, but they can also match colors based on images, scan colors in-store, and view entire color schemes based on a single color number. This app considers how people live and allows them to design their home around it. Plus, by letting a user pull color matches from real photos in their camera roll, they add a certain playful element that makes a user want to spend time in the app.
  • AZEK® Deck Building Products iPad App: This app can be used as a 2D or 3D visualizer of the entire AZEK product line so customers can see how it looks before any purchase is made. Users can take notes on their creations, save, and share them when necessary. You can imagine a situation in which you or one of your pros could create a visualization of a buyer’s space, share it with them, and more easily close a sale. Not only that, but a buyer could use it with a pro or dealer so they could recommend the best product for them.
  • RDI® Railing Designer App: This one is especially useful for pros, who can access the SRP back-end of the application to create customer quotes. Meanwhile, all users have the ability to create a simulation of their railing configuration and then generate a materials list for shopping. Once the design is finished, it’s simple for customers to save and print out the materials list, which they can take to their local RDI dealer.
  • Therma-Tru® Doorways: Like the others, this is another mobile visualizer, but it works on all mobile devices and integrates with social media so users can post their creations and get input from others if they’re stuck between multiple options (mahogany and oak, for example). Product information is automatically stored in every design, and users have the ability to search for the nearest dealer of each product, bringing consumers and dealers closer together.
  • Ply Gem Designed Exterior Studio: While not a mobile app (must be accessed in a computer browser), Ply Gem has put together a great visualization tool for home exteriors. Users simply pick their home style, select an area of the home to change materials and colors, then select from stone, windows, siding, etc. Ply Gem recently added a new feature called MyHome, which allows a user to upload an image of his/her own house to modify.
  • Eldorado Outdoor™ Design Tool: I love this tool from Eldorado Stone. Like the Ply Gem one, this visualizer is for web browsers, but it is a seriously robust platform. You create your space based on layout size, then you can add in everything from cabinets to walls and fireplaces, appliances, etc. before you apply the Eldorado stone and brick of your choice. Like the others, it offers an easy way to save, print, share, and get quotes. With all of these features at your disposal, Eldorado Outdoor is not your average design tool.

A recurring theme of the blog lately has been a discussion of how the building industry will need to modernize in the coming years (see here and here for more). Integrating manufacturer apps into your sales and marketing efforts is a simple yet strategic way to meet the changing needs of today’s increasingly mobile/digital consumers. Whether you’re a manufacturer, a pro, a dealer, or you’re at some different point in the channel entirely, apps like these will be important parts of growing your business—in 2016 and beyond.

[*] http://www.statista.com/statistics/276623/number-of-apps-available-in-leading-app-stores/

Share via email

Proving B2B ROI Is Hard, But You’re Still Responsible for It

19 Nov

Don’t Ditch Lead Generation—Do Lead Generation Better

Marketing Strategy

As B2B marketers, how do we quantify the results of our work? How do we prove the effectiveness? The ROI. That’s the constant challenge we face, especially when it comes to the building industry, where we have to be that much smarter. The numbers prove it: 32% of B2B marketers can’t even name the digital marketing tactic that generates the most revenue for their company. (Elton wrote an article about that here.)

Nonetheless, the challenge of quantifying B2B marketing results does not absolve B2B marketers of the responsibility to provide them. I came across an article earlier this week that argues too many people are placing lead generation as their #1 measure of effectiveness when it comes to their content marketing, but because sales teams often do not use marketing qualified leads effectively, that might not be the best option. Instead, according to the article, engagement should be the most important measure of success.

They’re talking about a lot of the same things Elton and I have been discussing on Navigate-the-Channel regarding the buyer journey and the tools prospects need as they self-educate their way through the sales funnel—basically, the idea that buyers need good content at various stops through the buyer journey. Their argument, therefore, is that engagement rather than lead gen is the most important metric.

I don’t know how much I agree. The article fails to mention how one measures “engagement” vs. “lead gen” (Do we just measure web traffic? Social?) and how you justify the effectiveness of those results as a marketer.

My take: if we’re saying we need a different measure of effectiveness because sales teams are no longer utilizing our MQLs from lead generation efforts, maybe the question needs to become not how else we can measure effectiveness, but rather, how we can better incorporate the sales team in the early stages by working with them to develop a follow-up plan for what happens after the lead is generated. I’ve blogged about the importance of that here.

As B2B marketers, we have a responsibility to provide results; vague metrics might work in the B2C world, but B2B can’t afford not to know specifically where the money is going and whether or not every dollar is being put to good use. The simple truth is that, in B2B, marketing is often the first expense that gets cut. Delivering to results that can be measured is the single best way to prevent that from happening.

But don’t let that influence you—read the article yourself and see what you think.

Share via email

Don’t Be Too Cool for “Old School”

22 Oct

Building Products Marketers Should Remember Direct Mail

Mail

As B2B building products marketers, it’s hard to resist the allure of the new and shiny. After all, it’s our job to push the envelope, develop new and exciting creative, and experiment with marketing tactics that drive results. But it’s also our job to use tried and true tactics that are proven to still have relevance in today’s marketplace.

A lot of marketers will be quick to tell you that direct mail is not one of those tactics—that it’s “old school” and doesn’t have the impact that digital/social/email all do. But marketers in the building industry would do well to learn what those in the fashion industry have proven time and time again: that everything comes back in style.

A recent study commissioned by Canada Post reveals that direct mail is no exception to the rule. In fact, according to this article in Marketo’s blog, direct mail still proves effective for B2B marketers, even in a predominantly digital age. Here are a few of the statistics from the study that you can’t miss:

  • 70% of people are curious to find out what’s in their mailbox. I wonder if as many feel the same about their email inbox.
  • 64% visited a website in reaction to direct mail. And typing in a website takes a lot more effort than clicking a button…
  • 51% prefer a combination of both mail and email. You may think digital is cool, but your audience might be sick of it. Mix it up.

Marketers get excited about the many new and different tools, communications channels, etc. available to us. And that’s okay; we see some cool and useful technology in our line of work, and these tools can be both fun and effective at driving results for our sales. But sometimes “old school” thinking works—when it’s right for your audience.

Take, for example, one of our clients, a major building products distributor. Many would say that fax is “old school” and no longer an effective marketing technique in the modern age; however, we conducted a survey last year of this client’s 10,000+ marketing list and discovered that fax is the second most preferred communication tactic by the audience. Ignoring a clear referendum from our audience simply because it seems “old school” would be ridiculous. And the same is true of direct mail, which continues to be effective, as the study proves.

Don’t get stagnant or miss out on conversion opportunities because you think you’re too cool for “old school.” You’re not. In fact, no marketer is too cool for something that drives measurable results.

But don’t take my word for it—the proof is in the numbers. Check out the full article for more direct mail insights.

Share via email

Building Products Marketers Need Sales to Survive

15 Sep

Sales and Strategy Go Hand In Hand

Business people meeting

What if I told you that all the effort you put into marketing your building products was absolutely useless? What if I told you that no matter how great the creative, how brilliant the strategy, and how alluring the incentive, your approach was doomed to fail?

Because they are—if you fail to incorporate your sales team into your efforts. I’ve written before about how no building products promotion can be effective without buy-in from the sales team. But this applies to more than promotions—it’s your entire marketing strategy and beyond.

A recent article in the Harvard Business Review takes that idea to the next level, making an argument I agree with: that sales should be part of every conversation about strategy. All too often, marching orders come down from on high with no real understanding of what is happening to those on the ground pushing the product or services. And the further away the “powers that be” get from customer contact, the more obsolete their strategies can often become.

Here are a few of my favorite takeaways from the article:

  • Communication is key: “People can’t implement what they don’t understand.”
  • It doesn’t matter how many emails you send if you don’t engage your sales team as partners: “The process for introducing and reviewing plans often exacerbates the separation of the strategists from the doers. It typically involves a kickoff sales meeting followed by a string of emails from headquarters and periodic reports back on results. There are too few communications, and most are one-way.”
  • If you don’t explain the big picture, they won’t be able to create it: “Even when sales teams are trained in negotiation and selling tactics, the larger strategic context—especially the implications for target priorities—is often left out.”
  • Whose job it is to partner with sales: “Clarifying strategy is a leadership responsibility.”

Click here to read the full article—it’s full of important information that building products marketers should really take into consideration, especially as many of us start to work out the final details of our 2016 planning.

Share via email