Posts tagged print advertising
Looking into the future of B2B online marketing
Jul 17th
Part 2: Essential B2B social media start-up strategies
Part 3: Developing a social media strategy when the rules aren’t clear
Part 4: Social media time shock strategies
Well thank you, that’s very flattering. I may be biased toward the present, but I think the most interesting online marketing development is a trend we’re starting to see among the largest brands and agencies, both B2C and B2B – the re-integration of marketing channels.
We currently live in a world where B2B marketers largely trade off their budget between online marketing channels, or between online and offline channels — an ebb and flow we have seen in other historical contexts. Choices are made based on the individual ROI of each channel, historic or competitive precedent (e.g., “we’ve always run print ads in that publication, so we’ll continue to do so”), or some combination of the two. The strategy/budget discussion largely occurs around which channel performs best, rather than how multiple channels work TOGETHER to deliver results. This occurs because 1) the online channels are developing quickly, making it hard to keep up with changes, even with a staff dedicated to a single channel, and 2) solid cross-channel metrics are so hard to come by for the vast majority of B2B marketers.
This “either-or” approach to marketing channels makes little sense in B2C and even less sense in B2B where most purchases involve multiple decision-makers and longer sales cycles. Think paid search marketing on one of the “big three” general search engines performs vastly better than banner advertising? Research suggests they serve different roles in the buying process: general search engines getting undue credit for being the major online portals from which people navigate just prior to purchase (e.g., 71% of paid search clicks are navigational) and banner ads exposure – simple exposure, not a click – driving a hidden 22% increase in search marketing conversion rate.
Thankfully, online marketing tools and techniques are catching up and enabling the discussion B2B marketers should be having – how different channels work together to deliver results, and what the optimal channel mix should be, based on these interactions and business goals.
This evolution – the re-integration of marketing channels as we remove technology barriers – is critically important for improving overall B2B marketing efficiency and should lead to a number of fascinating, useful insights in the coming years. Change is never easy, but shedding our “either-or” mentality for a more informed, integrated approach is a change worth making.
More marketing for less: Think inside the box.
May 26th
Constant innovation should be a central part of your business strategy but when the budgets get crunched, there is still plenty of value in the “old-school” marketing basics.
Bargains in traditional media. Marketing dollars are moving toward Internet marketing, but there is still a place for TV, radio and newspaper — and the value has NEVER BEEN BETTER! Newspaper ad sales were down 38% in 2008 – it’s a buyer’s market. More than 90% of Americans spend an average of 236 minutes a day with TV. I recently worked with a customer who was paying $9 for a 30-second commercial on a targeted cable TV demographic.
Focus on existing customers. Up-sell, cross-sell and micro-market to your existing customers. It’s 80 percent less expensive to sell more to existing clients than attracting new ones. How have their needs changed during the recession? There are probably new product and service niches being created with your valued customers. Go find them before the other guy!
Is your website alive? You’ve probably already invested in the website infrastructure and this is a highly cost-effective way to attract new customers. Is your site aligned with current customer needs? Does it have fresh, compelling content? A bold call to action? How is it differentiated from competitors?
Service essentials. Follow up on every lead quickly. 88 percent of people are happy to hear from a vendor after download within 24 hours. Waiting 96 hours drops that number by half. And think about using personal, hand-written notes to cut through the clutter and really delight your customers. Writing a letter … now that is REALLY old school!
Destroy complacency. I see so many customers spending money on advertising channels simply because this is what they have always done. Are your channels still relevant and targeted? Have your customers shifted to another gathering place? Here’s a more detailed article on this topic: http://tiny.cc/9VYRI
Measure what you treasure. It takes no capital investment to make sure the way you measure your success is still appropriate and driving the right actions in your business. Is your marketing plan integrated and measurable?
Re-discover email marketing. This can be an easy and inexpensive way to stay in front of customers, especially if you have a built-in mailing list. This is a tricky channel, but done right, can be highly effective.
Is print dead?
Apr 22nd
This morning a colleague asked me this question regarding a new health-related magazine he was starting and the prospects for attracting advertisers. Here was my response:
Although advertising budgets are rapidly moving toward online media, print is definitely not dead. Paper media still has a couple of advantages.
First, your target audience may not have the time or interest to scan the Internet for content. More than 30% of Americans don’t use the Internet at all and in many countries that rate is even higher.
Second, research shows that people process printed information more effectively, especially if the content is long or complex. If you’re like me, you print out Internet content to read if it is more than about a page long.
Third, a direct-mail piece has an unparalled ability to reach specifically-targeted audiences.
Finally, print magazines reach a different sort of secondary audience — people in a doctor’s office or a spouse at home for example. That could be important to some advertisers.
Like any media channel, the key is this — what customer need is being met? If the audience you’re reaching with the magazine aligns with the demographics sought by advertisers, and the price per impression is competitve, you will win and attract advertisers.
If the media channel adds value to customers, it will be relevant no matter if it is based on pulp or “tweets.”
Welcome to {grow}
You’re in marketing for one reason: Grow.
Grow your company, reputation, customers, impact, profits. Grow yourself. This is a community that will help. It will stretch your mind, connect you to fascinating people, and provide some fun along the way. I am so glad you’re here.
-Mark SchaeferFollow Mark
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