What has changed in the past 4 years in B2B marketing?
Change is not always obvious when you're in the middle of it. Looking back over the past few years, here are a few things that I've noticed:
Marketing automation and lead nurturing has replaced old fashioned email marketing
Good news - more relevant, targeted communications. Powerful reporting that let's you talk numbers with confidence.
Bad news - requires excellence in content creation, which is HARD and TIME CONSUMING. So never mind the technology, it's still hard work to engage people and keep them engaged.
Social media has gone from "something we should do" to "something we're doing"
Good news - participation and experimentation are the only way to learn with this, so many brands are actually starting to do something meaningful. See, you never needed the "Social Media Guru". Just a little courage.
Bad news - It's the new shiney corporate thing...everything now has to be "social media". People feel overwhelmed with the volume and frequency of communication. The signal to noise ratio is terrible.
We've gone through the GFC, and as always, marketing budgets get slashed first
Good news - even people who used to have big budgets have started to look at more creative ways of marketing. Including social media. See point one.
Bad news - Well, I know I for one would have loved to have had a little more to spend...
Video is emerging as the killer app
Good news: People were never designed to write and read, we were designed to talk, look and listen. Now that anyone can make and publish video at little or no cost, there is a whole new world of opportunity opening up to generate interest, build a brand and convert prospects. And if I was 20, I would go head first into that business.
Bad news: As with everything online, the barrier to entry is low and so is a lot of the quality. This is not an easy game and requires people with skills to write stories, direct and create interesting stuff. No, I don't subscribe to the idea that all you need is a flip camera...
Have you seen any other trends and changes? What have I missed?
The storyline and Chinese whispers
Articulating why someone should choose you or your product over someone else’s is hard.
We have an endless array of tools to distribute the story, but often the weakness is not where we tell the story, but how well we tell it. Unless you run a pure online business, (where you get to control the message at least to the point where others start to talk about you) you probably have people in your employ to tell the story. Either on the telephone or in person, someone is selling your products or services for you, and telling the story.
The sales force are your story tellers - Individuals, who often work largely autonomously, often hired because they are “hunters”; people with the ability to go out there and with little more than their own drive and skills open doors and meet quota. Their individualism, and ability to get things done with limited support is celebrated.
And there is the dilemma. Managers sweat over the precise wording of the value proposition, positioning the brand away from the competitors, highlighting their leadership in their niche. They carefully craft language to connect with the audience.
Then it is handed over to the sales team, and a game of Chinese whispers starts. The story is often interpreted in as many different ways as there are sales people.
So the questions is does it matter, and if it does, what can you do about it?
Does it matter? - I think it does. In most markets today, differentiation is hard enough to achieve. So whatever that differentiation is, articulating the story effectively can be the difference between success and failure. How complete is the story told, how passionately, how it is made relevant to the customer.
What can you do about it? – make sure there is broad agreement that the story is the best it can be. If there are sales people who don’t buy in to it, deal with it in one way or another. If it is because your story doesn’t stack up, adjust. If it is because someone can’t or won’t get on board, you’ve got another problem. It’s in everyone’s interest to help sales people tell the story in the best possible way. An investment in ongoing, two way communication with the front line will not only help you get the story out, it will also give you the feedback you need to adjust when the market changes.
Why not use the same tools you might use externally, (like the web, video, podcasts) to engage your sales team. If you invest the time to listen, you also have the right to expect people to pay attention when you ask something in return.
In the end, customers will determine what your brand is, and they will determine whether your story stands up. But amplifying your story consistently will have an impact. What else would you do, or have you done?
Youtube tells you what part of your video people like
I haven't used Youtube very much, but I suspect I will use video more and more in the future as it will become increasingly popular in B2B marketing.
My use to date has been to post little video's of my kids. I had a bit of fun and dubbed "Dance little lady, dance" by Tina Charles over a video of my (then) 3 yo dancing. It's had about 3,000 views (because of the title, I presume).
I had a look at it again last night, and I noticed some options to the right of the screen for "video owners" one of which was "insights". I clicked and got to a dashboard of analysis tools:
The next thing I clicked on what the "hotspots" button, which allowed me to see which part of my video people found more interesting than others:
Imagine how this can help you improve your communication over time? It tells you what people like with their actions, without having to provide any feedback. It allows you to continually improve your video, based on what people like and don't like. I must be dreaming. Awesome.
Social media in B2B – who is reviewing your product?
If there is one thing unique about B2B purchasing, it is the time and resources people devote to evaluating a potential purchase.
Now imagine you are launching a new product. A good launch is one of those rare moments when you can get the media's attention and a good launch will probably play a significant role in your products' success. So you target the right media, you write compelling stories hoping they get picked up by those hard to reach technology writers. If you represent a big brand, you're company may even advertise in the media you are hoping to get favourable reviews from them...
But of course they are not "the media" anymore. There are an increasing number of "other" media outlets. The people that create this "other" media tend to write out of passion or to demonstrate their thought leadership and generally share a couple of important characteristics:
- They don't get paid by a media company that relies on advertising
- They are often very passionate
- They are often not generalist "technology" writers but people with a very narrow interest/specialization
They are free to write what they like, they are likely to know what they are talking about, and they probably have a narrow group of readers who are equally focused and who are looking for unbiased, knowledgeable critique.
A real world example
Here is an example of such a product review by Stephen Few, from Perceptual Edge, a consultancy assisting companies "design simple information displays for effective analysis and communication."
The blog post is called " Xcelsius Present – Fast Track to Nowhere"; a 1,700 word review of the latest version of Excelsius from Business Objects. Now, I have no idea if he is right or wrong, but this is a little piece of the conclusion:
"Business Objects is a leading business intelligence vendor (based on sales), but its products consistently demonstrate that they don't understand analytics and haven't a clue about data visualization. A vendor that claims to be the best, which Business Objects unabashedly claims (just like every other major BI vendor), should be ashamed of selling such moronic products."
Ouch. Not exactly what you're hoping for. But the difference with traditional media is that it doesn't stop there. The conversation is about to start.
44 comments and a great discussion
There are 44 comments posted, and it is a lively discussion including an exchange with what appears to be a representative from Business Objects (although not identified as such). Either way, good on them for participating, as it provides potential buyers of the product not just one take on the product, but many.
Now Google "excelsius review, business objects".
So just before you start to believe that social media is just about Twitter, (and I don't blame you) it is the fragmentation of media and the increasing number of very narrow, niche blogs, wiki's etc that increasingly will come to the top of the search results when potential customers do their product evaluation. Search "excelsius review, business objects" and the review by Stephen Few is on the first search page, just under ZDNet. If I was in the market to buy, I'd probably read it. Rightly or wrongly.
So what can you do?
Without pretending to write a strategy, here are a few simple things you could do.
- Know who the people are outside the "traditional media" that publish on your subject.
- Engage with them. Maybe give them an opportunity to preview your product and ask questions. It won't mean you'll get a positive review, but you might just be able to ensure there is no misunderstanding about your product (which there seems to in this particular example)
- Participate in the discussion, using not only the comment section of their blog, but also your own. (What do you mean, you're company doesn't have a blog?)
What else would you do?
“unsubscribe” – when we hit the “off” switch
I just read a blog post by a well respected author making a couple of good points about email marketing and the importance of the subject line and signature.
Good information, but the post was 1,400 words long without sub-headings. So I thought I post a comment, generally supportive but making a point about the importance of being brief in email marketing and effective use of headings.
But I didn't. I unsubscribed. Does that make sense, or was that the right thing to do? Probably not. He made a good point after all and I should have given him the feedback he deserved. Fact is, I don't always do what is logical and right. Nor do our customers.
Age of Conversation 2 – The Rising Water Level of B2B Marketing
Where we had 100 people collaborating on the first book, "The Age of Conversation", the sequel, "The Age of Conversation - Why don't they get it?" involved 237 people from around the world. My contribution this time around is called: "The rising water level of B2B Marketing", looking at how B2B marketers will have to change to adept to a new environment.
The topics people have written on are broad ranging, so there is a nice mix.
- Manifestos
- Keeping Secrets in the Age of Conversation
- Moving from Conversation to Action?
- The Accidental Marketer
- A New Brand of Creative
- My Marketing Tragedy
- Business Model Evolution
- Life in the Conversation Lane
I've chosen Business Model Evolution; here is a short bit of the intro:
In B2B, there is more often than not a lot of careful evaluation before any purchase decision is made. After all, a bad decision could potentially harm your career, or cost you your job. You look for recommendations through personal networks and word of mouth. Now, through social media, there is a network at your fingertips that is easier to access, and more powerful than anything you’ve ever seen. Suddenly, as a buyer you have more knowledge, more choice, more power and higher expectations.
All the proceeds are going to the Children's charity, Variety. If that alone is not enough reason to buy a book, consider this:
The 237 people who have participated are all passionate about the changing face of marketing. Some of these people are now recognised by the wider business community as experts in the rapidly evolving field of digital marketing/pr, social media, whatever tag you like to use. Some are not, but maybe they should be.
So what do you get for your money?
For $US 12.50 you can buy the e-book here.
For US$ 19.95 you buy the soft cover here, or the pretty hardcover for US$29,95 here.
A great effort again by Drew McLellan and Gavin Heaton for organising this. An enormous effort for charity.
Check out the list of contributors:
Adrian Ho, Aki Spicer, Alex Henault, Amy Jussel, Andrew Odom, Andy Nulman, Andy Sernovitz, Andy Whitlock, Angela Maiers, Ann Handley, Anna Farmery, Armando Alves, Arun Rajagopal, Asi Sharabi, Becky Carroll, Becky McCray, Bernie Scheffler, Bill Gammell, Bob LeDrew, Brad Shorr, Brandon Murphy, Branislav Peric, Brent Dixon, Brett Macfarlane, Brian Reich, C.C. Chapman, Cam Beck, Casper Willer, Cathleen Rittereiser, Cathryn Hrudicka, Cedric Giorgi, Charles Sipe, Chris Kieff, Chris Cree, Chris Wilson, Christina Kerley (CK), C.B. Whittemore, Chris Brown, Connie Bensen, Connie Reece, Corentin Monot, Craig Wilson, Daniel Honigman, Dan Schawbel, Dan Sitter, Daria Radota Rasmussen, Darren Herman, Dave Davison, David Armano, David Berkowitz, David Koopmans, David Meerman Scott, David Petherick, David Reich, David Weinfeld, David Zinger, Deanna Gernert, Deborah Brown, Dennis Price, Derrick Kwa, Dino Demopoulos, Doug Haslam, Doug Meacham, Doug Mitchell, Douglas Hanna, Douglas Karr, Drew McLellan, Duane Brown, Dustin Jacobsen, Dylan Viner, Ed Brenegar, Ed Cotton, Efrain Mendicuti, Ellen Weber, Eric Peterson, Eric Nehrlich, Ernie Mosteller, Faris Yakob, Fernanda Romano, Francis Anderson, Gareth Kay, Gary Cohen, Gaurav Mishra, Gavin Heaton, Geert Desager, George Jenkins, G. Kofi Annan, G.L. Hoffman, Gianandrea Facchini, Gordon Whitehead, Greg Verdino, Gretel Going & Kathryn Fleming, Hillel Cooperman, Hugh Weber, J. Erik Potter, James Gordon-Macintosh, Jamey Shiels, Jasmin Tragas, Jason Oke, Jay Ehret, Jeanne Dininni, Jeff De Cagna, Jeff Gwynne & Todd Cabral, Jeff Noble, Jeff Wallace, Jennifer Warwick, Jenny Meade, Jeremy Fuksa, Jeremy Heilpern, Jeroen Verkroost, Jessica Hagy, Joanna Young, Joe Pulizzi, John Herrington, John Moore, John Rosen, John Todor, Jon Burg, Jon Swanson, Jonathan Trenn, Jordan Behan, Julie Fleischer, Justin Foster, Karl Turley, Kate Trgovac, Katie Chatfield, Katie Konrath, Kenny Lauer, Keri Willenborg, Kevin Jessop, Kristin Gorski, Lewis Green, Lois Kelly, Lori Magno, Louise Manning, Luc Debaisieux, Mario Vellandi, Mark Blair, Mark Earls, Mark Goren, Mark Hancock, Mark Lewis, Mark McGuinness, Matt Dickman, Matt J. McDonald, Matt Moore, Michael Karnjanaprakorn, Michelle Lamar, Mike Arauz, Mike McAllen, Mike Sansone, Mitch Joel, Neil Perkin, Nettie Hartsock, Nick Rice, Oleksandr Skorokhod, Ozgur Alaz, Paul Chaney, Paul Hebert, Paul Isakson, Paul McEnany, Paul Tedesco, Paul Williams, Pet Campbell, Pete Deutschman, Peter Corbett, Phil Gerbyshak, Phil Lewis, Phil Soden, Piet Wulleman, Rachel Steiner, Sreeraj Menon, Reginald Adkins, Richard Huntington, Rishi Desai, Robert Hruzek, Roberta Rosenberg, Robyn McMaster, Roger von Oech, Rohit Bhargava, Ron Shevlin, Ryan Barrett, Ryan Karpeles, Ryan Rasmussen, Sam Huleatt, Sandy Renshaw and James G. Lindberg, Scott Goodson, Scott Monty, Scott Townsend, Scott White, Sean Howard, Sean Scott, Seni Thomas, Seth Gaffney, Shama Hyder, Sheila Scarborough, Sheryl Steadman, Simon Payn, Sonia Simone, Spike Jones, Stanley Johnson, Stephen Collins, Stephen Landau, Stephen Smith, Steve Bannister, Steve Hardy, Steve Portigal, Steve Roesler, Steven Verbruggen, Steve Woodruff, Sue Edworthy, Susan Bird, Susan Gunelius, Susan Heywood, Tammy Lenski, Terrell Meek, Thomas Clifford, Thomas Knoll, Tim Brunelle, Tim Connor, Tim Jackson, Tim Mannveille, Tim Tyler, Timothy Johnson, Tinu Abayomi-Paul, Toby Bloomberg, Todd Andrlik, Troy Rutter, Troy Worman, Uwe Hook, Valeria Maltoni, Vandana Ahuja, Vanessa DiMauro, Veronique Rabuteau, Wayne Buckhanan, William Azaroff, Yves Van Landeghem
How web 2.0/social media is offering opportunities to B2B marketers
I subscribe to few newsletters these days, instead preferring RSS feeds, but the "Modern B2B Marketing" newsletter from Marketo is one that I like. Probably due to the easy lay out and great content. So the e-newsletter is not dead yet.
The discussion about social media/web 2.0 (I wish there was better terminology for this) tends to centre around consumer marketing, so this headline about B2B marketing got my attention.
It features Laura Ramos, Vice President and Principal Analyst at Forrester Research (interviewed by Jon Miller from Marketo) who provides an interesting insight into how changes in the media environment (i.e. the fragmentation of media and the fact that we are all getting overloaded with communications) is starting to make B2B marketers look at other avenues beyond the traditional outbound marketing activities.
Engaging customers and prospects who are activly looking around for solutions to their problems with information and interaction that is relevant and valuable, seems to be a no-brainer. But how many organisations invest in this "pull" activity? With web 2.0/social media still in its infancy (especially in B2B marketing) there is a real opportunity to differentiate for those who take the lead.
Laura also offers specific examples of B2B marketers successfully using Web 2.0 tactics like rich media, blogging, RSS, and social networks. I'm not a great podcast consumer (because I'm impatient and want to scan for the good bits), but this was time well invested. Have a listen to this short, (10 minute?) podcast.
Using Digital, Web 2.0 Tactics to Boost B2B Marketing Results (Podcast)
B2B + social media = natural fit
For business, words like "social media", blogging, or Youtube don't often inspire a great deal of confidence. Really, they are mostly associated with staff wasting time on "socialising".
At best, social media is seen as an interesting experiment for consumer brands, but hardly a useful strategy for business to business marketing. But if you have a closer look, you might find a very different opportunity.
Social media : "Social Media is the democratization of information, transforming people from content readers into content publishers. It is the shift from a broadcast mechanism to a many-to-many model, rooted in conversations between authors, people, and peers" (source:Wikipedia)
What are the most defining features of B2B marketing? Deep, one-to-one relationships, often built through personal interaction between individuals. We build these through face-to-face meetings, telephone contact, mail and email. We network at events designed just for that purpose. We present our ideas and innovations at industry seminars, and we know the incredible value of word-of-mouth in B2B marketing, so PR is often at the top of our list in terms of promotion.
So what is the strength of "social media"? One-to-one conversations and deep relationships. Word of mouth. PR. networking. Sharing and presenting ideas. A significantly higher profile online through improved search results.
Debbie Weil, (subscribe to her blog; it's fantastic) author and speaker on the use of social media and blogs for corporate organisations, wrote a little manifesto that sums it up nicely:
The Inflection Point of Corporate Blogging
- Blogs and other social media tools are here to stay
- Blogs are just next-generation Web sites
- Social media tools (RSS, blogs, podcasts, video, wikis, etc.) can be used by any company, large or small, B2C or B2B
- They symbolize community, conversation, mutual respect between users and an ethos of sharing
- These tools are more powerful at informing/influencing/persuading than traditional forms of marketing, advertising and corporate communications
- They help you get found online
- If you can't be found, you don't exist
Conclusion: This isn't optional
You gotta start using blogs, podcasts, online video (social media) today!
The opportunity: Carving out your niche is easier when you've got fewer competitors. When it comes to using social media in B2B marketing, there is still plenty of opportunity for you to be take the jump on your competitors. So don't wait. Get in now.
Looking for more ideas? Check out these blogs: Web Ink Now, by David Meerman Scott, his guest post on "The New Rules of B2B Marketing and PR", and Publishing 2.0, by Scott Karp.
Update: Hat tip to Bruce Nussbaum for highlighting this Business Week article by Stephen Baker and Heather Green: "Social Media Will Change Your Business"
Have you killed anyone lately?
- If you ever have to create presentations, you need to see this.
- If you ever wondered how to fuel word of mouth, take a leaf out of Alexei Kapterev's book
Friends? Don’t expect them online
Connecting online with like-minded people (both professionally and personally) has changed peoples' business and private lives and I don't think we've seen anything yet. Whether it is through online collaborations (such as "The Age of Conversation") or through applications like LinkedIn and Facebook. But are they friendships?
Lewis Green doesn't think so. He writes: "Virtual is good. Reality is better" and I agree. Friendship between people requires meeting in the flesh and not once, but many times. I don't have more than a handful of friends and they are people I know very, very well. However I have many acquaintances, colleagues and business contacts.
There is nothing wrong with that. Relationships need a starting point and a path to grow into friendships. The hardest part for most people is precisely that; a starting point.
If you are building a business, if you are a marketer, a significant part of your life is focused on creating those first steps on that path; an opportunity to start a conversation, to gain a foothold of someone's attention and interest.
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