Ted Levitt defined marketing as "getting and keeping customers". A campaign must be engineered and executed with this in mind. When engineering a campaign you must take into consideration your two core audience members: your customers and your sales force.
A campaign must create value for your customers, your sales organization, your business units and your CEO. Let's look at each one of these stakeholders:
Customers/Prospects - A campaign is an invitation to customers and prospects to learn how your company, service, solution (look for an article on what a "solution" should mean) or product will solve key problems in an organization......PERIOD. Problems in business typically evolve around: productivity, protection, profit, communication, competition and culture. Remember, time is the knowledge workers currency..it is precious....a campaign must have a compelling reason for them to invest their time to learn more about what you have to offer.....PERIOD.
Sales Organization - Whether you have one rep, a sales force, sell direct or through partners these people must be motivate to execute, support and participate in your campaign. It's pretty easy to do this! Help them retire their quota and strengthen relationships with their accounts.
Business Units (BU) - Your campaign will be promoting the services, solutions and products that BU's are responsible for. Tie in your campaign to the areas that are of most value to them (be careful on this because conflict does happen between BU and with Sales Organization because there can be conflicting agendas and priorities).
CEO(owners, shareholders, "C-suite etc) - I don't know any CEO who isn't concerned about Cash, Profit and Revenue. Make sure that your campaign factors in these three key metrics.
Here ares some additional things to think about:
1) "Tarket Markets" - be careful how you define these
Contrary to what many say going "vertical" is time consuming, expensive and narrows your potential audience. While vertical marketing (targetting specific industries on their own, e.g. healthcare or finance etc) can work for niche products my preference is to market how you are solving key business problems that Executives and Department leads can relate to cross industry. Only large enterprises have the resources to truly go "vertical". Leave other B2B marketing instruments for vertical alignment. Define the three top problems you can solve and for who and engineer and create compelling story that people want/need to hear.
2) Remember the 4 R's of B2B Marketing- Campaigns must be build around this marketing framework. If you don't you'll alienate the key stakeholders you server as a B2B marketeer.
3) Attendance or Appointments - Revenue generation campaigns should focus on event recruitment or sales appointments. You want customers/prospects to express interest in learning more about how you can help them be successful. This works best through conversation and interaction. So you either want them to attend an event (in person or online) or meet with people from your company (sales rep, snr. execs, experts etc.)
4) It's always a conversation - A campaign begins and ends with a conversation.
Telemarketing is not a "dirty word" unless your selling windows to consumers during dinner time! Most B2B "buyers" accept telemarketing as a necessary way for "suppliers" to promote themselves. It is cost effective and if you have something meaningful to offer it is very productive.
Whether an event or appointment(might as well consider it an event too) conversation and interaction is a must. Questions you pose in your presentations for example should stimulate discussion and clarify whether you can help them or not.
5) Measure, measure, measure - as is the case with events all campaigns must(not should) be measured. You need to achieve a 10:1 ROI. Ensure that all sales opportunities uncovered, advanced or closed due to this campaign are tagged to it.
Jun 17, 2007
May 26, 2007
Generating Revenue through Campaigns and Events-Part One
While it is obvious that B2B marketers must create awareness and demand it is important to realize that in the eyes of your CEO s/he wants this to translate into results. The best result is Revenue Generation. This may be obvious for most of you but the primary way to do this is through campaigns and events.
When planning events of any kind you must deliver meaningful value to your audience. There are two core audiences you need to take into consideration. The first, is your customers and the second is your sales force.
The primary directive for all events is to provide customers with meaningful informational/educational content that will help them in their businesses....period. Adding entertainment of some form will enhance the overall experience for some customers. It can also make the experience more memorable.
The good sales reps will use these events to socialize with their accounts. (Note: sometimes you may choose to exclude sales reps, I disagree with this approach. Good sales reps are valued by the customer not despised).
All events should be overbooked because there will be 10 to 20 percent no shows/cancellations. Take a lesson from the hotel industry.
Here's some additional things to think about:
1) The Presentation - in my years of experience I've learned that the most important part of any presentation is the presenter! Put someone in front of your customers who is an expert in their field and/or on a particular topic. The presentation must be balanced so that it informs/educates and links your offerings in a logical fashion. The customer is expecting a bit of a "pitch" so don't be shy...but don't be pushy!
2) Go over the agenda - tell the audience what you're going to cover and get their feedback. They may have a few things they want to ask and learn about that aren't on the agenda.
3) Make it interactive - encourage audience participation. This is sometimes tough because some folks don't want to ask questions for whatever reason. How many times have you been in a presentation where the speaker asks "does anyone have any questions?" and there is silence? The way to deal with this is to ask the audience a question first or even better have one of your own employees ask a question. This helps break the ice.
4) Measure, measure, measure - get feedback from the attendees. Do it through surveys but also go up and ask them! This is the primary thing you should do during the social event that follows the presentation. Also, good marketers, measure the impact the event has on the sales and the sales process. An event can uncover an opportunity and it can also advance one. You must get your reps to provide you with this information. Sales opporunities need to be tagged to events to help justify the expense and determine the ROI. A minimum ROI target should be 10 to 1
5) Location - make sure that the location is close to your customers, is well known, easy to get to and don't scrimp on quality (food, decor, service etc.). Whether it is an in-person or online event make sure the quality of the delivery is HIGH.
When planning events of any kind you must deliver meaningful value to your audience. There are two core audiences you need to take into consideration. The first, is your customers and the second is your sales force.
The primary directive for all events is to provide customers with meaningful informational/educational content that will help them in their businesses....period. Adding entertainment of some form will enhance the overall experience for some customers. It can also make the experience more memorable.
The good sales reps will use these events to socialize with their accounts. (Note: sometimes you may choose to exclude sales reps, I disagree with this approach. Good sales reps are valued by the customer not despised).
All events should be overbooked because there will be 10 to 20 percent no shows/cancellations. Take a lesson from the hotel industry.
Here's some additional things to think about:
1) The Presentation - in my years of experience I've learned that the most important part of any presentation is the presenter! Put someone in front of your customers who is an expert in their field and/or on a particular topic. The presentation must be balanced so that it informs/educates and links your offerings in a logical fashion. The customer is expecting a bit of a "pitch" so don't be shy...but don't be pushy!
2) Go over the agenda - tell the audience what you're going to cover and get their feedback. They may have a few things they want to ask and learn about that aren't on the agenda.
3) Make it interactive - encourage audience participation. This is sometimes tough because some folks don't want to ask questions for whatever reason. How many times have you been in a presentation where the speaker asks "does anyone have any questions?" and there is silence? The way to deal with this is to ask the audience a question first or even better have one of your own employees ask a question. This helps break the ice.
4) Measure, measure, measure - get feedback from the attendees. Do it through surveys but also go up and ask them! This is the primary thing you should do during the social event that follows the presentation. Also, good marketers, measure the impact the event has on the sales and the sales process. An event can uncover an opportunity and it can also advance one. You must get your reps to provide you with this information. Sales opporunities need to be tagged to events to help justify the expense and determine the ROI. A minimum ROI target should be 10 to 1
5) Location - make sure that the location is close to your customers, is well known, easy to get to and don't scrimp on quality (food, decor, service etc.). Whether it is an in-person or online event make sure the quality of the delivery is HIGH.
Apr 6, 2007
The Four "R's" of B2B Marketing
2/15/09: Stayed tuned for an updated version. Minor enhancements including changing one R from "revenue" to "return".
B2B marketing professionals can benefit from taking this approach when defining their marketing plans. What I call the four R's. I use these as guiding principles regularly for planning and tactical execution. A B2B Marketer, in my view, is responsible for the following:
1) Revenue - marketers must generate revenue opportunities. This is accomplished by executing demand generation campaigns and special events that generate sales opportunities for the sales force. This must be measured and reported.
2) Reputation - marketers must build the company's reputation. This is the primary way a B2B company builds it's brand. This is accomplished through case studies, testimonials and a formal reference program. Customer engagement and collaboration is critical.
3) Relationships - marketers must put on creative events that build relationships with customers, partners and the media. These events can be social or educational in nature and must provide real value to the intended audience. They act as a mechanism to create and strengthen relationships and reduce "distant gaps".
4) Relevant - marketers must have something meaningful, relevant and of value to offer the customer or partner. It must also be relevant with respect to what the company has to offer and what the sales force is prepared to talk about with customers and prospects. People are over-communicated to today. Be relevant and provide value in the form of knowledge, networking and keep it relevant.
These four principles help me guide my marketing efforts each day.
B2B marketing professionals can benefit from taking this approach when defining their marketing plans. What I call the four R's. I use these as guiding principles regularly for planning and tactical execution. A B2B Marketer, in my view, is responsible for the following:
1) Revenue - marketers must generate revenue opportunities. This is accomplished by executing demand generation campaigns and special events that generate sales opportunities for the sales force. This must be measured and reported.
2) Reputation - marketers must build the company's reputation. This is the primary way a B2B company builds it's brand. This is accomplished through case studies, testimonials and a formal reference program. Customer engagement and collaboration is critical.
3) Relationships - marketers must put on creative events that build relationships with customers, partners and the media. These events can be social or educational in nature and must provide real value to the intended audience. They act as a mechanism to create and strengthen relationships and reduce "distant gaps".
4) Relevant - marketers must have something meaningful, relevant and of value to offer the customer or partner. It must also be relevant with respect to what the company has to offer and what the sales force is prepared to talk about with customers and prospects. People are over-communicated to today. Be relevant and provide value in the form of knowledge, networking and keep it relevant.
These four principles help me guide my marketing efforts each day.
Mar 4, 2007
Welcome to the B2B Marketing Blog
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