Archive for the ‘content marketing’ Category

Why Content Strategy is So Important

Thursday, November 12th, 2009

Seth Godin said, “Content marketing is the only marketing that works for B2B.” I absolutely agree. I see proof of it all the time. One can conclude then that content is important. How content is developed, organized and disseminated is also important.

Years ago your Sales department controlled every step of a prospect’s movement through the sales cycle – from initial interest to closing the deal. Your salespeople managed the prospect’s access to information about your products and services. Marketing’s job largely consisted of renting assets owned by other entitiesInformation Structure (advertising sales departments, PR firms with access to journalists, tradeshow organizers).

The internet has changed that forever. Fragmentation of media has created an information source explosion:

  • happy and disgruntled customers freely comment about vendors and services,
  • self-proclaimed industry experts blog about everything from features to pricing to future product releases,
  • competitors engage prospects online via the clever use of social media.

The days of controlling the conversation with customers and prospects are gone. Marketing must move from renting assets to building them. Marketers must become publishers.

Content in Context

The internet has disintermediated the middlemen. Used to be that Marketing ‘rented’ access to prospects via print advertising in trade publications. We all know that ads don’t work anymore. People have become inured. They ignore the ‘noise’.

Or Marketing rented access to prospects via articles placed in those same trade pubs. This can still work, but readership has fallen off a cliff.

Trade shows still work, but they’re expensive, and they’re time-consuming. B2B SMBs are selective about exhibiting at trade shows, and only do one or two a year.

The internet has given us direct access to prospects. We don’t have to go through those middlemen anymore. But there’s a downside. Those middlemen gave us context.

When buying a print ad, Marketing made sure that the readers of that trade pub were people in a position to buy what they were selling; and made sure that the ‘content’ of that ad spoke in terms that made sense to that target audience.

When a PR agency placed an article, the agency made sure that the placement was appropriate and that the content was relevant. Then a professional journalist wrote the article in a way that was (usually) interesting to the target audience.

In the trade show scenario, organizers demand that exhibitors meet certain criteria… that they’re focused on a niche that’s congruent with the target audience. Then they book speakers and seminars designed to attract that target audience. And they promote the show to ensure the targets attend.

Content Strategy Supplies Context

Content strategy plans for the creation, publication, and governance of relevant and useful content across a number of different vehicles (blogs, case studies, email campaigns, LinkedIn, online PR, podcasts, syndicated articles, Twitter, videos, webinars, websites, white papers, etc.).

Gaining the interest of customers and prospects online is all about being willing to put your own agenda aside. Put yourself in their shoes and work hard to produce information that prospects find relevant and useful. If you can make it entertaining too – so much the better. Companies need not only the will, talent and skill to produce great content; they need the tools, processes and infrastructure. Those went away when we lost the middlemen.

The people who develop online content discuss user experience, information architecture, content management systems, metadata, visual design, user research and other disciplines that facilitate users’ abilities to find and consume content. What’s been largely ignored is the content development process.

Content Development Process

Content strategy is important. It provides the context for the content that forms the heart and soul of every successful B2B marketing effort. Content strategy deserves the focus of either someone internal to the organization, or by an external agency. A content strategist executes:

  • Channel Distribution Strategy – defining how and where content will be made available to prospects. (e.g. blogs, email marketing, LinkedIn, newsletters, online article publishing, podcasts, posted videos, Twitter, website).
  • Content Management Strategy – defining the technologies needed to capture, store, deliver, and preserve an organization’s content. Publishing infrastructures, content management systems and workflows are key considerations.

  • Editorial Strategy – defining the guidelines by which all online content is governed: values, voice, tone, legal and regulatory concerns, user-generated content, and so on.

  • Keyword Research – using search term suggestion tools (on an ongoing basis) to determine which keywords and phrases people are using to find what you’re selling, and embedding those keywords in your content.
  • Link Building – an important component for superior search engine ranking. Google bestows high ranking on those websites that have been linked to from sites it considers to be “of high quality and relevance”.

  • Search Engine Optimization - editing and organizing the content on a page or across a website to increase its relevance and search engine ranking for specific keyphrases.
  • Stewardship of Company Positioning - ensuring all messages are congruent with the established brand, value propositions, etc. and adapting them as markets or competitive conditions change.

Businesses must commit to treating their marketing content as a valuable asset worthy of strategic planning. Otherwise content marketing efforts are haphazard and less effective than they could be. Anything worth doing is worth doing well. Content strategy is worth doing well.

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Marketing Defined

Friday, August 28th, 2009

Let me preface by saying this isn’t a textbook definition of ‘Marketing’. It isn’t how the American Marketing Association, or Proctor & Gamble, or even Apple would define it. This is Bob Leonard’s definition of ‘Marketing’ developed over many years of learning what works best for my clients – small to medium sized (SMB), information technology (hardware, software and/or services), business to business (B2B) companies.

Marketing Sign PostBrand communicates the ‘personality’ of the company and its products and services. Some people mistakenly believe that brand must be communicated through advertising and other promotional activities. Not!

The C suite should define and communicate what a company is about, so employees understand and transmit the brand message. ‘Brand’ is communicated through all customer and prospect touch points.

I define Marketing as “anything that helps Sales close profitable deals”. Branding is a part of that, but only a part. It’s an input to the process of Marketing.

Marketing can be used as a tool to help management develop market strategies (for each product/service) – which are built upon detailed descriptions of target prospects. Once we know exactly who will buy each product and service, and why, we can determine the best

  • messaging (benefit statements, value propositions, etc.)
  • offers (what will make them take action?)
  • vehicles (the most effective ways, online or off, to reach them).

Marketing can inject discipline into the Sales process. It can force the development of a strategy, plan and budget that eliminate one-off, shoot from the hip promotional efforts that do nothing to increase profitable business.

Marketing is a process that is composed of many parts. When conceived and executed properly, the return on investment is significant. Marketing is the planting of a seed, and the nurturing of that seed over time. Just as a farmer must water, weed and feed for months before reaping the benefits, Marketing takes time.

Marketing exists because Sales, by nature and due to compensation plans that reward short-term results, is unable or unwilling to perform that nurturing process. They just don’t have the time. Optimal results are achieved when Sales and Marketing work together. When each:

  • understands what the other is doing and why,
  • agrees on who is responsible for what, and
  • can clearly articulate a mutual definition of a ‘qualified lead’.

Marketing performs demand generation activities, and hands off warm, engaged leads to Sales when the time is right. Sales can then spend its time nurturing relationships with current customers to deliver upsells and repeat business; and developing and closing profitable deals with qualified leads.

Over time, I’ve devised a methodology for developing and executing effective ‘Marketing’ for my clients. The basic format is: ‘Strategy. Content. Design. Tools/Vehicles. Test/Optimize.’ More in upcoming posts.

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Insurance Technology Pundits

Wednesday, August 12th, 2009

For those of you who own, manage or sell for IT companies that target insurers, I have a trio of blogs, and one trade publication, that you ought to be reading. It’s amazing the amount of free, yet valuable, information that’s available today on the web.

These three Insurance Technology pundits are Ellen Carney, Barry Rabkin and Ara Trembly. All three of these people make their living consulting to technology vendors in the insurance space. They are all well-connected in the industry, and they all have valuable insights.

Barry’s blog is called ‘Rabkin’s ROI – Rants, Observations and Insights from an Insurance Technology Analyst‘. Barry has a unique point of view as a result of 30 years of experience in what he calls the ‘InTech’ world.

Both Ellen and Ara have blogs on the Insurance Networking site. You may have to register to access the blogs, but it’s well worth the five minutes. You can also sign up to receive IN’s enewsletter. Lots of good information. Here’s an excellent post by Ellen listing the findings of a recent Forrester research study re how insurance execs are planning their IT spending; and an insightful one by Ara discussing the demise of homegrown insurance systems (or not).

These people are bona fide world class experts in the field of information technology in the insurance industry, and you can peek inside their brains for free! Relevant and useful information to help you make better business decisions. It’s a wonderful world.

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Business to Business Lead Qualification

Wednesday, August 5th, 2009

Getting to ‘No’

I remember my boss at Digital Equipment Corp. once awarded me the “bulldog”. It was a bronze casting of a bulldog meant to be proudly displayed on my desktop. It was recognition for sinking my teeth into an unqualified prospect and holding on until the prospect submitted to my will and bought.

Bulldog 150x150 Business to Business Lead QualificationThat was then. This is now. Today that kind of behavior should be punished, not rewarded. Maybe even back then. We made the sale, but at what cost?

Once I had committed to that deal, I spent tons of time booking appointments, preparing proposals, building presentations, and making customer visits. Very time consuming and expensive. I’ve since decided that this is work that should be done only if there’s a real need and a good chance of winning a profitable deal.

Everything you do to generate leads and close deals is hard work. Don’t waste it. Get to ‘No’.

There’s a substantial difference in your mental attitude when you’re going for a ‘Yes’ versus when you’re going for a ‘No’.

When you go for a ‘Yes’:

  • You’re trying to get an appointment.
  • You’re trying to get approval for your proposal.
  • You’re trying to close the deal or close for the next step.
  • Your posture is one of a supplicant.

When you go for a ‘No’:

  • You cross prospects off your list faster.
  • You never do proposals that have no chance of leading to a sale.
  • You’re looking for reasons not to waste time with loser deals.
  • Your posture is one of confidence that what you sell is of value.

This doesn’t mean you throw out every lead that isn’t perfect and ready to decide today.

What it does mean is that you prioritize your efforts, and you make prospects show you why they deserve your sales time and sales resources.

It’s so much better to deal only with qualified prospects. Prospects who have pain and are actively seeking help.

Most companies don’t qualify leads well enough. In B2B, prospects are professional buyers, with budgets and business problems to solve. If you can help them, chances are good they’ll buy. You have a right to ask questions to determine if the opportunity is appropriate for your organization.

When you embark on a demand generation program, you need to qualify the leads that come in. Initially, they should be qualified to determine whether they belong in the sales funnel at all. Criteria to determine this:

  • the prospect is the decision maker, a strong influencer, or has access to the decision maker or influencer
  • the company is doing well and can make money available for the purchase (or, in some cases, is doing poorly and may go to great lengths to get funding for the right project)
  • pain has been detected, and your product may solve their pain
  • they have expressed interest in your product, and
  • they project a purchase within a year.

If they don’t qualify at this point, discard them. On average, you’ll lose about 20% of the leads generated. You’ll save a lot of time and effort by not pursuing leads that will never close.

Then it’s time to qualify for “sales-ready” leads. It’s imperative that Marketing, Sales and the C-suite all agree on the criteria that must be met to qualify a lead as “sales-ready”. Here’s an example of sales-ready lead criteria:

  • the prospect is the decision maker, or is a strong influencer and can get you access to the decision maker
  • budget is available, or the person can make budget available
  • pain has been verified, and your product can genuinely solve their pain
  • they have expressed interest in a sales meeting to explore a solution to their need, and
  • they project a purchase within three months.

You can loosen or tighten the scoring criteria based on whether you want more or fewer leads to hand to your salesforce. On average, 20% of the leads generated will be qualified as sales-ready. Hand them off to the appropriate sales contacts immediately.

You’ve discarded 20% and handed 20% off to your salesforce. That means you have 60% of the leads generated still in the sales funnel. They’re qualified as leads, but they’re not sales-ready. They need to be nurtured.

The way to build a relationship with these prospects is to let them educate themselves. B2B lead nurturing consists of making informative content (some subset of whitepapers, seminars, case studies, podcasts, webinars, demos, etc.) available to the prospect. The goal is to earn their permission to stay in touch and progressively deepen the relationship so that when the prospect does become sales-ready, they’ll want to engage with your firm. You’re top of mind when they’re ready to buy, and the conversation won’t be centered on price, because you’ve become a trusted advisor.

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B2B Marketing Has Always Been Content Marketing

Tuesday, July 7th, 2009

Two purposes for this post. One to show you a video from the Business Marketing Association’s conference currently being held in Chicago, and the other to introduce you to my buddy, Joe Pulizzi. Joe has the video posted to his site. It’s short. It’s entertaining. And it tells a story that will resonate with you.

You should register to receive Joe’s blog. Content Marketing is the only thing that’s working today for B2B, and Joe is one of the world’s top experts. As the video illustrates, it has always worked for B2B, it’s just that we didn’t call it ‘Content Marketing’.

The way it worked was a salesperson knocked on doors and built relationships over time. Eventually he or she built trust and prospects began to believe what he or she told them. Very difficult and too expensive to do today. Much more effective and much cheaper to do it online.

Complex technology sales can’t be closed online, but trust and relationships can be built that way. Then, prospects will contact you when they’re ready to talk price and Ts & Cs. You still need smart, hard working salespeople, but you can deploy them more strategically.

That’s the way it works today. You have to build the content. Relevant and useful information. Added fresh at least three times a week. A blog is a good way to do that. Case studies, podcasts, surveys, videos, whitepapers and other types of content work too.

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Digital Relationships

Wednesday, June 24th, 2009

Business to Business Moves Online

It isn’t news to you that the nature of your relationships with your clients and prospects has changed. Existing relationships are more difficult to maintain as the people you used to deal with leave their posts, and their replacements (if there are any) are much less inclined to engage with IT providers. Cultivating new relationships is more difficult because prospects don’t feel the need to interact with IT providers until they’re ready to buy. They do their research online. If they contact you, the conversation will be about price.

Relationships

Relationships

What may be news is that there’s a more cost effective way to build, nurture and maintain relationships with clients and prospects. You don’t have to be in the same room (or the same country). You can build the trust online that forms the foundation of every sale. With one caveat – the relationships you build must be authentic. Everybody has a well-honed BS detector today. If you aren’t in it for the long haul, if you’re just trying to make your quarterly numbers, resign yourself to competing on price.

Return On Influence

There’s networking and relationship-building for business, and there’s ‘sales disguised as networking’. Don’t confuse the two because your prospects won’t. The first one is truly helpful because he wants to make and keep relationships. The second one is interacting only to fill an immediate need.

By being helpful over time, even when there’s no imminent payoff on the horizon, you become a trusted advisor. And you’re able to accomplish this fairly easily, because it’s a one to many relationship. By communicating relevant and useful information through your blog (and commenting on other appropriate blogs), and/or a newsletter, white papers, videos, your website etc., you build a reputation. As long as the content you develop is high quality, people with an interest will find it and disseminate it to others.

Starved for Time, Not Information

It seems counter intuitive. Why develop more content when people don’t have time to consume the information that’s already available to them? If you develop content that resonates, or informs in a way that’s valuable, or entertains (or preferably, all three), people rightly perceive it as a time saver. They didn’t have to hunt down these tidbits, assimilate them and think them through – you did it for them.

Content Strategy

Of course, you can’t deliver useful, relevant, compelling information off the cuff. You must determine what your positioning is. What subject matter do you want to be the trusted advisor for? And who are your target prospects? Once that’s done, you can develop a content strategy that outlines the research you’ll do and the topics you’ll cover. An added bonus is that, as search becomes more contextual (see Bing, Kosmix and Duck Duck Go), your relevant content becomes your search engine optimization (SEO). No need to trick the search engines into driving traffic. The same valuable information that keeps people interested, will also draw the interest of the search engines.

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A Matter of Trust

Friday, June 12th, 2009

This is the core of what acSellerant is about, and what all Marketing should provide. It sounds basic, and it is. Everybody knows that trust has to be established before a sale, especially of complex and high ticket items, can occur. What is new is that it’s become increasingly difficult to establish trust. The internet has distanced buyers from sellers. If you can’t get in to see a prospect, how are you ever going to build trust?

trust dictionary 150x150 A Matter of Trust

trust

Useful and Relevant Information

Most business to business (B2B) companies use their website as brochureware. Boring, static  descriptions of their company, its products and services. So easy for a prospect to click away to a competitor site. You just lost a sale and don’t even know it.

What do you do when you’re meeting with a prospect in person? You pay attention to the prospect. You ask questions to uncover problems that, maybe, your products and services can solve. And then you listen.

When prospects find you online, they already know they have a problem and they’re actively looking for solutions. There’s a whole discipline called search engine optimization (SEO) that’s devoted to getting companies, products and services found online. We’re going to cover that in depth in later blog posts, but for today we’ll focus on after they’ve found your website.

Golden Opportunity

Think about it. This individual is looking for what you’re selling. They’re already qualified, to a degree. How do you persuade them to contact you, to ask for a sales call? In stages.

Remember – your goal is to build trust. Establish rapport. Let the prospect know that they’re in the right place and that you might be able to solve their problem. Give them information that is meaningful and helps them to make an intelligent buying decision.

Above all, you have to tell the truth. You can’t build trust with sleight of hand or half-truths. If a marketing agency even suggests something like that, get rid of them. This is the age of transparency. Remember Hillary Clinton’s story about dodging bullets on the tarmac in the Mideast?

A quality marketing agency will help you build a compelling (yet truthful) story around your products and services.

Layers of Complexity

Odds are your product or service (since this is a blog for IT vendors) is fairly complex. Figure out all the questions your prospect will need to have answered before they buy, and give them the information they need. I’m not suggesting that you reverse engineer your product on your website, but you must give prospects enough information, in bite-sized bits, over time, to get them to the point where they’re ready to make a buy decision and they’re willing to meet with a sales person.

If you do this correctly, a number of things happen. While taking your prospects on this journey of discovery, you’re:

  1. educating them about your company and its products and services;
  2. very gently, almost imperceptibly, persuading them;
  3. proving to them that you’re trustworthy; and
  4. ultimately, becoming a trusted advisor.

Today, your website and other online content (blogs, case studies, email messages, white papers, etc.) are the tools to use to build trust with prospects.

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