B2B Marketing

Icon

fresh experiences on marketing topics for the B2B enterprises and more

Keep your customers (happy) during recession

Recession has come as a strong incentive for companies to  understand more than ever the importance of customer loyalty and word-of-mouth, and to create strategies to ensure they come out of this downturn with good results, profit even.

Especially in B2B, there are three main tools that you can use to make sure tyour companu survuves the crises, and maybe even thrive afterwards:

  • Retention. Attracting a new client costs much more than keeping the ones you already have happy. Furthermore, an old customer can bring new clients using word of mouth. Financially speaking, retention can lead to big returns. FedEx, for example, gained $100 million in revenues after a 1 percent improvement in customer retention.
  • Repurchase. This is a strategic and profitable tool to keep your revenue base, and even increase it. The best way you can encourage repurchase is by providing your clients with a positive customer experience. Purchase habits will increase, thus leading to an increase in sales.
  • Referral. Today, you can even measure the correlation between word-of-mouth referrals and financial outcomes through special programs or surveys. The financial benefits associated with word-of-mouth referrals can be impressive. The only “dark” side to this is that negative word of mouth can lead to significant losses in popularity and, implicitly, in sales.

More specifically, here are a few tips to help you set up a good retention program:

  • Have one-on-one meetings with clients, just to discover their needs and worries
  • Make the executive team’s contact information available to all clients
  • Include thoughtful gestures into all client-oriented activities, especially in face-to-face interaction

From a recession point of view, opportunities now arise to do all those small tasnks that you’ve been postponing because of lack of time. And customer loyalization is probably the most important task you have to complete these days, to make sure you overcome the downturn successfully.

Filed under: b2b marketing, b2b sales, Best Practices, Business-to-Business, Marketing Results, Marketing Tactics, Relationship Marketing, Strategy

The importance of being proactive in marketing

Numerous clients and colleagues ask me what they should do about marketing these days, because they find it a very hard job to market and sell even the best imaginable product or service, in this bad economy. As far as sales are concerned, cycles are much longer and actually closing a contract lasts twice as longer than one year ago, let’s say. And even if you do close a contract, the profit will be smaller.

In terms of marketing, there is a tremendous pressure to achieve better results by investing less money. Many marketers may think that quickness is the fastest way to success, but this can actually harm the business, instead of helping it. Maybe the best thing to ask yourselves is not: “What brilliant marketing techniques should I use next?”, but rather “What is the perfect balance between reactivity and pro-activity?”

This is the difference between the two opposed attitudes:

  • Proactive marketers plan very carefully, spend the marketing budget wisely and control their message veery step of the way. That understand what works and what doesn’t work in their industry, and they are not afraid to come up with a bold strategy. They proactively spend valuable the marketing budget in areas most likely to create positive results. Proactive marketers participate actively in social media, and take control over what is being said about their companies, products and services, thus being able to limit potential damage. They always monitor and measure results along the way, knowing that these efforts will return value for the company in the end.
  • Reactive marketers rush in and respond to trends, without taking their time to analize the market situation. These marketers do whatever they’re told or just follow therules they’ve read in books. In most cases, this approach ends up being more wasteful than successful, requiring multiple cycles to determine that something doesn’t work. With a “damage control” attitude toward their online reputation, these folks are vulnerable from a PR standpoint. Most often, they wait until the annual budgeting process to assess what happened to their money and efforts.

The point is: we all feel the pressure to deliver much better and convincing results than ever. Even though you need to act as quickly as possible, you should take a second and consider your attitude. Establish some measurable and sustainable goals and then execute your plan.

Filed under: b2b marketing, Best Practices, General, Marketing Planning, Marketing Tactics, objectives, Strategy,

Persuading your CFO to invest in marketing

B2B budgets are going down, and still CFOs wonder what is the next process for which they should cut down on their expenses. Now more than ever, they want to see those results that justify the expense. If you are a CMO who wants to keep the CFO happy, what can you do? You must provide the hard fact “evidence” that the marketing pragrams you want to start these days will prove to be profitable for the company in the end.

Some random ideas on how to produce those cold facts that CFOs want to see from the CMOs these days:

  • Define KPIs better. Before you even launch a B2B marketing campaign, make sure to thoroughly define the key performance indicators that will measure the results. Let me give you an example: if your goal is to build additional access points into a prospect company that you target, then first of all you should be able to see how deep results your cappaign produces on the short term. Afterwards, you can design a plan to produce results on the long term.
  • Create a strong tie between marketing processes and business priorities. Study the sales goal your company has, and then demonstrate the CFO how the marketing programmes you design can support these objectives. For example, if you hava managed to create more contacts at prospect companies, show how the sales team is setting more and more meetings and how demo requests increase.
  • Show how the results you achieve link to business goals. If you have a new online marketing campaign, and it generates, let’s say, 75% more clicks than the previous one, this number alone is not sufficient to explain success. You have to explain the financial and the sales team how this increase affects the company, to prove a whole cause-and-effect chain that helps your business achieved the defined objectives.

In the end, what really matters is to discover what’s working for your company and why, and not just think in terms of B2B ROI.

Filed under: b2b marketing, Best Practices, Business-to-Business, General, how to, Internal Marketing, Marketing Planning, objectives, , ,

newAD on Twitter

RSS BtoB Marketing

  • Keep your customers (happy) during recession June 18, 2009
    Recession has come as a strong incentive for companies to  understand more than ever the importance of customer loyalty and word-of-mouth, and to create strategies to ensure they come out of this downturn with good results, profit even. Especially in B2B, there are three main tools that you can use to make sure tyour companu […]
    Loredana Niculae
  • How can B2B companies approach viral marketing? June 4, 2009
    Can B2B marketing be fun and creative? The idea came to me to write about it because at newAD we are now talking to one of our clients, an IT company, to use viral campaigns as part of their marketing plan. With viral marketing, online campaigns get a life of their own, because, if the […]
    Loredana Niculae

Pages

June 2017
M T W T F S S
« Jun    
 1234
567891011
12131415161718
19202122232425
2627282930