Archive for the ‘General Business Practices’ Category

Don’t underestimate the opt-in

Wednesday, July 14th, 2010

While dissecting a client’s recent e-mail campaign analytics, the topic of list best practices came into play. The client in this scenario had pretty good overall e-mail results, but the unsubscribe and complaint rates were noticeably high. This prompted us to question the client’s list-acquisition behavior: How and where were they getting their contacts? How had they previously communicated with these prospects? When did they acquire these contacts?

As it turns out, the client was using legitimate, commonly used practices to acquire these addresses – advertising on third-party sites and asking those interested in the company’s products to manually opt in, for example. So what’s the problem?

After some digging, we discovered it probably has to do with a lack of consistent communication and additional opt-in confirmation – something many marketers are guilty of. In a day and age where it isn’t unusual for people – particularly business decision-makers – to receive hundreds of e-mails per day, dotting your I’s and crossing your T’s is crucial. But what exactly does that mean? Let’s go back to the client example …

Not surprisingly, the list with the most success was the one that contained names of people who proactively sought information on the company very recently. In other words, they saw the company’s ad or online listing and signed up to receive more information within the last couple weeks, so the opt -in was presumably fresh in their minds.

On the other hand, the list with the most problems came from prospects who showed interest in the company’s products on a third-party site – from as long as three years ago. Without consistent communication and reminders that they had opted in to receiving these communications, it’s no wonder that a disproportionately high number of people would mark an e-mail from the company as spam.

So what’s an e-marketer to do?

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Are you promoting/defending your category?

Wednesday, June 16th, 2010

An interesting article from Ad Age contends that marketers spend way too much time worrying about their specific brands and not nearly enough on those brands’ categories.

Let’s say your company produces energy drinks. You just spent a boatload of cash on an ingenious, award-winning campaign, and your product is flying off the shelves. But wait! A study just released presents some convincing evidence that the main ingredient in most energy drinks (including yours) causes cancer and a host of other terminal diseases. Still want to pop open that can? Neither do your customers.

You could get rid of the ingredient and replace it with something less nefarious. But what if there is no viable replacement? Even if there is, you’ll spend millions more fighting the perception that your product contains carcinogens.

The moral of the story is not that you should continue selling your customers cancer-causing products. Rather, it is a reminder of the importance of being aware of the perceived negatives surrounding not only your products, but also the categories your products fall into, and to be prepared in the event that those categories face criticism.

This hypothetical example plays out in real life every day. Take the ongoing and uphill battle high-fructose corn syrup manufacturers face combating the ingredient’s bad reputation. Which leads us to another important message: Choose your categories wisely. “Corn sugar” or even “corn syrup” sounds much better than “high-fructose corn syrup,” Ad Age points out.

In contrast, companies can use categorization to their benefit. Ad Age uses the example of how yogurt brand Activia rode the coattails of the popular “pro-biotic” category to become one of the top three best-selling yogurts in the country.

No matter your industry, products or services, this lesson likely applies to you in some way. Be careful about how your products are categorized (whether purposely or inadvertently), understand the potential pitfalls of those categories and promote them while educating customers.

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Cut the red tape before it derails your marketing

Friday, April 30th, 2010

red tapeWhen Albert Einstein said, “Bureaucracy is the death of all sound work,” it was more than a flash of genius – he was right.

Imagine if I were required to complete a requisition form to be able write a post for our blog, wait two weeks for it to be reviewed and then another six months for it to be approved. And that’s before I would be able to start writing. Launching projects in Stalinist-era Russia was easier.

Companies that have streamlined their approval processes for marketing-related announcements and projects are able to share news as it happens – or at least on a timely basis – when the information is fresh and customers and prospects still care. Dated messages lose punch when they’ve grown a beard.

Failure to communicate early and often defeats the whole reason for doing marketing in the first place. Why invest the time and resources into developing a comprehensive marketing strategy only to sabotage those efforts with a protracted and painful approval process? A business that doesn’t get the news out can rest assured its competitors are – and they’re doing a fantastic job chipping away at the marketplace in the meantime.

I wrote a new product press release for a client in March and the marketing director approved it within a day or two. No problem, right? Here’s where the red tape comes in. The product involves a third-party vendor, which also has to sign off on the release. I sent the draft March 11. It’s now April 30 and I still don’t have approval. The “why” is mind-boggling: It has to pass at least four layers of approval – marketing, peer, executive and consultants. I haven’t heard about the legal team being involved, but I’m sure that’s next. The clock is ticking folks, and this isn’t a controversial topic.

I’m exasperated, but I don’t have a choice except to go through the process. Protest is futile. In the meantime, my client is losing the opportunity to share timely news that isn’t so timely anymore. And I have to wonder if anyone will be interested two-plus months later – if and when I get the OK to distribute the press release.

If your company has an onerous approval process, simplify it. Authorize a couple of key people to be able to move marketing announcements and projects out the door. If it takes months just to approve a press release, your efforts to increase your sales and build your customer base will grind to a halt.

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Can you hear me now?

Thursday, April 8th, 2010

715294_megaphone_3The buzz surrounding social media marketing has become deafening – and it seems that marketers may be tuning out.

Companies would still rather rely on old-fashioned surveys (which can cost a pretty penny, by the way), rather than take advantage of the vast amounts of unsolicited, free feedback available on online forums and social media networks, according to a new book, “The Foundations of Listening,” from the Advertising Research Federation.

The problem is, it seems, that marketers see this outpouring of online opinions as a sort of curse – something scary and unmanageable that must be dealt with rather than taken advantage of. While there is no shortage of new technologies and services that track online buzz, companies still appear to be largely unsure about who to put in charge of managing this endeavor – and how to convince the powers-that-be to pay for it.

What’s more, many companies seem petrified of all the online chatter and are unsure about what to listen to and what to ignore. For this reason, dedicating time and resources – and sometimes getting outside guidance – is especially important.

While small and mid-sized b-to-b companies obviously generate less online buzz than Fortune 500 consumer brands do, monitoring and measuring what people are saying online is vital for any organization.

Does your company have processes in place for this or plan to implement them? Have you gotten any useful customer feedback through any company-initiated social media activities?

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Customer-centric or just plain disconnected?

Wednesday, February 24th, 2010

616726_26242974Many companies say they are focused on customers, but they aren’t walking the walk, according to a 2009 study from Forrester Research. While 45 percent of marketers surveyed said their marketing activities are focused on customers, only one-third say they have strategic ways of delivering the right messages to the right customers. Even more telling: Only 11 percent said customer engagement was an important aspect of their marketing communications.

This, analysts say, leads them to believe that claims of customer centricity are mostly hot air.

Building trusting relationships with customers is especially important for b-to-b marketers, who deal with longer sales cycles, higher price points, corporate hierarchies and more specific audience niches. Here are some general tips for creating better connections with customers via marketing activities.

  • Know what customers want – Your customers know what they want, but are you listening, or even bothering to ask? Regular customer surveys can be an underrated yet valuable tool when you begin any marketing strategy. Thinking about writing a white paper? Ask your salespeople to gauge their customers’ reactions or send an e-mail with a quick survey asking which topics they would be most interested in. With surveys, it helps to offer a small incentive. Starbucks gift cards, anyone?
  • Hit the bull’s-eye – As mentioned in this post, aiming irrelevant messages at your customers (or aiming certain messages to the wrong ones) is not only ineffective – it can cost you business. Be wise before you send that next e-blast or mailer.
  • Get friendlier – Getting involved in social media can show your customers a friendlier, less formal, yet still properly branded, side of your company. LinkedIn, Facebook and Twitter also offer more opportunities for one-on-one, close interactions, not to mention a number of other benefits. Read more about those here, here, here, here and here.
  • Educate, then sell – Give customers news they can use and ask for nothing in return. Educate them about the latest business trends in their industry. Give them information that will make them look good in front of their bosses. Then segue into how your products/services can help them in those specific areas.
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Counting on coupons

Tuesday, December 22nd, 2009

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If you think coupons only appeal to housewives and broke college students, think again. Business executives and other b-to-b decision-makers aren’t immune to the lure of a great deal either.

Several large b-to-b brands, including Schneider Electric, have begun using coupons with reported success. And just the other day, I received a $100 “gift certificate” from Google to use toward any Adwords campaign — no strings attached, no minimum spend.

On average, e-mail campaigns that tout coupons have a 70 percent higher click-through rate than other e-mails from the same company, according to a 2009 white paper from Experian CheetahMail. The white paper stated, “While coupons sent to subscribers of loyalty programs and membership clubs continued to top the performance charts, campaigns targeting professional groups and wholesale buyers, many of which were business-to-business campaigns, showed notably high responses to coupons offered via e-mail.”

Schneider Electric has experienced this high response rate firsthand, according to an article in B-to-B Magazine. The company has seen a “high single-digit lift” in sales of refurbished products and close-outs that it sells through an online outlet, thanks to coupon campaigns, according to the magazine. In the article, one company representative shared what he has found to be the best offers. Generic percentage-off offers tend to work better than product-specific offers and free-with purchase offers, he says.

So how can you use coupons successfully in your next e-mail campaign? Read B-to-B Magazine’s e-coupons best practices here.

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Digital native … marketing naiveté?

Wednesday, December 9th, 2009

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I read a very interesting blog post on HubSpot last week (thanks Dawn!) about the difference between “digital natives” and Internet marketing experts. The blogger describes a digital native as someone who “has a high-level (sic) of comfort with technology, always talks about the newest things, and loves to help friends & family, even if their expertise comes from just doing Google research.”

He goes on to warn that being a digital native doesn’t necessarily make someone an Internet marketing expert, and vice versa.  Basically, he maintains that if you hire someone to manage your Internet marketing campaigns, he’d better be an experienced and strategic marketer first. In other words, it isn’t enough to hire people who have computer/digital savvy – they need to know the most effective ways to increase sales leads, ROI, etc., through Internet marketing efforts.

Not sure what to look for to avoid hiring a digital native who’s clueless about marketing strategy? Read some tips here.

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