Tag Archives: Facebook

Are Market Research Tools an Alternative for Social Media Haters?

Social Media has been around for well over five years, yet many CEOs just don’t see the point.  Most of them leave the social media activities to the marketing folks in their organization.

In a post on DIYMarketers, we explore the idea the some of today’s newest, coolest market research methods can actually be a great alternative for CEOs who hate all the hassle of social media, but want all the results.

Here is a summary of the alternatives:

  • If you hate the idea of losing control of your message, then create your own customer community.  You can create a customer or user panel with whom you are in regular conversation.  Ask the panel questions, via survey, they will give you answers.
  • Still question the ROI of social media?  Create a crowdsourcing space on your site where your customers can tell you their ideas for improvements and new products and you can respond.  Create a real-live brain trust and conversation that gets your customer involved in creating a product they will love and talk about.
  • Sick of people’s stupid updates?  Run surveys and polls on the SurveySwipe mobile platform.  You can blast out a question to our existing community or upload a list of your own.  You’ll get feedback in less than 2 hours!
I was one of the first people in line to criticize CEOs who weren’t taking advantage of the power of social media.  But as I got to really listening to their complaints — I really GOT IT.
The alternatives I’ve described here use the social media platforms, technologies and elements of fun and then target them toward ROI rich, time saving and customer engaging results.

The Power of Asking “What if” and “So What”

How many times have you run across an innovative product and service and thought “Why didn’t I think of that?!”  Or maybe you’re like me and have these “hairbrained” ideas, decide that they are silly and ignore them only to see them advertised or written about as the next great innovation!

The really neat thing about this interconnected internet and social media culture is that we all have the ability to actually reach out to those people and simply ask them how they got the idea and what they did after that.

One of my new-year’s resolutions was to do exactly that; reach out to people I thought had an amazing idea, product or service and start a conversation with them about what they were thinking and how they made that idea come to life.

And you know what?  The answers I got were not earth-shattering.  They were actually very simple and driven by two questions most typically asked by your average three-year-old: “What if….” And then “So what?”

Here are just a few snippets of interesting conversations that illustrate this point:

Prasad Thammineni, CEO OfficeDrop.  When Prasad graduated from the Wharton School he found himself in possession of thousands of paper documents that contained the sum of his hard work during graduate school.  Inside these paper folders and files was some potentially useful stuff – but it was taking up tons of space.  He asked himself the question “What if ….I scanned all this stuff and made it electronic?”  Not a novel idea exactly, but this got him thinking about the fact that other grad students wanted to do the same thing.  Then he asked “What if there were other people that had documents they wanted to keep, but not in boxes?”  And OfficeDrop, the online document storage site was born.

David Garland is a young entrepreneur who had already sold his successful hockey-themed web site and was on to another entrepreneurial venture.  He and his partner sat in a coffee shop and chatted about Donnie Deutsch’s show “The Big Idea.”  They loved the show but it made them ask the question “So what?”  That simple question started a brainstorm of “What if we did a TV show that focused on young entrepreneurs and provided education as well as entertainment?”  In less than two months David had sponsors and a show.

I’m going to stop at these two very-very brief examples.  But I can tell you that I have at least five more and am averaging at least one per month.   That means that in an economy that everyone says is down, there are people who are choosing NOT to participate.  These people  have consciously set aside their adult mind-set and are asking the “child-like” questions that lead to opportunity.
Asking “What if…” brings out the idea.  But asking “So what?” makes it marketable.  These two simple questions are the root of real, authentic and buzzable differentiation.

I can already hear you saying “If it were only that easy!”  Have you considered recruiting some kids as an advisory group?  I’m completely serious about that.  I’ve heard of large companies recruiting kids as problem solvers and brainstormers because of their un-fettered ability for unconstrained thought.  What have you got to lose?

Kids of all ages (especially elementary school age) love being included in what we are doing.  What makes it boring for them is the cumbersome corporate speak that we use to hide the fact that we are basically unclear about what our value is to customers.
In addition to the personal benefits that you’ll gain by engaging kids in your business, think about what you’ll be teaching them?  You’ll be showing them that their unbridled creativity has value.  You’ll be showing them that just by thinking in a certain way, they can create opportunities for themselves and for others.
And in an economy that has so many people seeing themselves as victims, what kind of a gift would you be giving by creating a new economy of entrepreneurs?

Generate More New Business By Being at the Right Place at the Right Time

Timing is a powerful business model or differentiating strategy.  Domino’s built their brand using a “Timing” positioning strategy “30 minutes or less” but that’s so 20th Century!

2011 brings with it a new twist on using timing as a differentiation strategy with the advent of nearly perfect information about products, price, communication and distribution.  There’s never been a time in history where we knew so much detail about people; their needs, wants, comings and goings.  In fact, small businesses have been more focused on the social media tools and smart phone technologies that make all this possible than on the profitable possibilities of using these low-cost, high-impact vehicles to get and keep more ideal, profitable customers.

WHEN is the Buying Decision Made?

When you stop and think about it, buying decisions aren’t made when we thing they are.  For example.  If you were buying a new car, it’s unlikely that you made your buying decision the first time you stepped onto a car lot.  Chances are, you started thinking about buying a new car after something significant happened; an expensive repair bill, an accident, when your car hit 100,000 miles, etc.

The point I’m trying to make is that we tend to assume that our prospects started thinking about something the instant WE found out about them as a prospect.  And the truth is that they started thinking about something AFTER something interrupted their comfortable routine.

That interrupting event is called a “trigger.”  And you can learn more about it in Craig Elias’ new book SHiFT.  He has mapped out how people buy using the following model:

  • The Status Quo: It’s a physical law of motion that applies to people too.  People will not change their existing behavior unless their world is interrupted by a third force.  Prospects will only change or make an effort to buy when the pain of NOT taking action is greater than the pain of doing something differently.Try This: Look at your existing customers and find out what triggered their choosing YOU instead of some other option.  The answers might surprise you.  Don’t just take their first answer, dig deep to find out what event happened that caused them to take action.   Once you know this, you can find ways to fish in THAT pond.  If your best customers come to you after they’ve had a baby, then you need to explore OBGYN’s as lead sources or your local maternity ward.
  • Window of Dissatisfaction: At this stage of the game, your prospect KNOWS that what they’ve been doing is no longer going to work.  Taking our “new baby” example further, if you sell baby furniture, your prospect will be more likely to make a purchase as their due date draws near.  There is a certain time between the trigger event that shocks them out of their comfortable coma and when a purchase has to be made.Try This: Target the “ponds” where your ideal customer is most likely to go when they experience this trigger event.  Then be sure to understand what’s important to them when they are trying to make a purchase, and be their guide.  You are already ahead of the competition if you are already associated with the trigger event, by default, you will be among their choices because you are simply THERE.  You increase level of value by how well you answer their questions and help them choose.
  • Searching for Alternatives: This is where MOST every other business (who doesn’t understand timing) is selling.  But your prospect has already narrowed their choices down AND suddenly their value expectation has risen mainly because they’ve already looked at some of the alternative solutions that were there during their window of dissatisfaction.  Every other alternatives that complicates the process starts to literally upset them because they have a need and an intention to purchase as well as a need to see every alternative.  Vendors or businesses who make this process difficult will lose the sale.Try This: Offer exceptional value that is significantly different and sets you apart from the early birds.  Look at your “points of purchase” for example, do you take credit cards, do you have easy terms, do your customers want to buy on line, can you offer special rates if they decide today?  There are many options, consider all of them.

Selling to the Executive Decision Maker

This is also a big timing issue.  Most industrial sales people are selling to purchasing people or middle managers or engineers.  If that’s the case, you are already late to the party.  Recent research has shown that the CEO of a company starts thinking about problems that they are having in their business and searching for educational information online years or months before potential vendors are even considered.

The biggest marketing mistake industrial or technical organizations make is making their web sites searchable for the products and services they provide and NOT the problems they solve.  For example, if the CEO is looking for ways to “reduce lead time” he or she will only find 518,000 results searching Google.  But if the CEO searches on “ERP Systems” (computer systems that could ultimately reduce lead time) he will find over 4.2 million entries.

Use Social Media Tools to Help

Today’s social media and smart phone technology makes a timing marketing strategy not only doable but cost effective.  Imagine actually knowing WHAT you’re looking for as you search LinkedIn or Facebook or Twitter.  Start by simply identifying the event triggers that shock your prospect into dissatisfaction and then go searching for other people with the same problem.  You’re likely to find better, happier and more loyal customers in the process.

LEARN MORE!

In the latest Marketing Sherpa CMO survey on Marketing Automation 76% of CMOs reported that generating high quality leads was the most pertinent to their organization.

Sirius Decisions found that an integrated approach to sales and marketing results in a 24% increase in growth but what is the simplest most effective way to align sales and marketing.

APRIL 12 WEBINAR WILL SHOW YOU:

  • Which digital assets attract the most profitable prospects
  • Where to place content so it drives the best prospects to your web site
  • When are the three best times to pass a web-based lead to your sales team
  • How to get sales to give you the data you need so they get the leads they want
  • How to create a simple seven step system that aligns your sales and marketing efforts
  • Which sales and marketing research results in the greatest payoff for you and your sales team

Craig Elias, author of 2011′s must-read book for salespeople, marketers and business owners  – SHiFT Selling AND Ivana Taylor, publisher of DIYMarketers will explain the Trends, Triggers and Tools that you will use to be at the right place at the right time.

FIRST - Register for the webinar TODAY

THEN – Click over to the SHiFT Selling web site and download FREE preview chapters to get you started so that you can get the most out of this webinar.

SPECIAL TOOLS AND RESOURCES – We’re also working on a sweet “Won Sales Analysis” template that you will have access to when you register for the webinar!

Will Video Make Focus Groups Obsolete?

What if you could actually watch consumers interacting with your brand in their natural habitat?  That is what a new application, Qualvu is offering brand managers and marketers.  In the video explanation on their home page, they show how their platform allows you to target consumers all over the world and get video from them as they interact with your brand.

What do you think?  How would you use this new tool?

Business to Business Marketing Trends for 2011

2011 is here and that means B2B marketing professionals are in the final stages of evaluating plans and have allocated budget for the year. Each company has unique goals as well as challenges, and what works for one company may not for another—there are no universal marketing solutions. However, the same key trends will impact every company, and marketers who capitalize on these trends will be better positioned to achieve their objectives.

Buyers Crave Content

Buyers crave useful, relevant content to help build their internal business cases and justify buying decisions. It’s up to you to provide valuable content to help buyers make informed purchase decisions and help your company earn new sales.

Take stock of your existing content and match it to your audience needs. Then fill in any gaps. Maybe you’re short on content aimed at the economic buyer. In that case, create an ROI calculator. Maybe analytical buyers don’t understand your novel approach to solving a problem. That might call for a case study. If you need more visibility and authority in the market, launch a blog.

Also, you don’t have to start from the beginning when developing content. Often you can re-purpose existing content for use across several media. For example, the white paper that becomes a Webinar that becomes a video. Or the technical article that becomes a presentation at a conference that becomes a series of blog entries.

Users Want a Multimedia Experience

As with audiences everywhere, professionals are now reading and watching and listening online. This year is a perfect time to take advantage of this trend by offering more than just words on paper or screen. Thanks to inexpensive technologies and high bandwidth, media such as video is simple to produce and easy to deliver to your audience.

There’s plenty of source material to create videos. You can record interviews, product demos, presentations—delivering anything from expert analysis and advice, to product announcements, to quarterly business results. You also can use videos to promote events before they occur and to record and archive them for future consumption.

Don’t forget to promote your videos everywhere you can: on Web sites using links and banners, in blogs, through e-mail, and via social media tools.

Social Media Requires Your Attention

Many marketers are not sure what commitment they should make to social media right now. While there is a great deal of buzz and noise surrounding social media, adoption in some business sectors remains low. It’s important to understand how your prospects and clients are adopting social media, and ensure that your level of investment matches your audience’s use.

Your first task is to understand how your target audience uses social media and what platforms they prefer. You may want to survey your own base for their usage.

Once you understand how your audience uses social media, you can develop an appropriate social media strategy. Remember that social media doesn’t take the place of other marketing, but is a complement to other marketing efforts. You’ll need to place someone in charge of social media efforts, integrate social media into your existing marketing program, and establish success metrics to measure ROI.

New Marketing Channels Await

With the near universal adoption of the Internet by your customers and prospects, you now have more marketing channels than ever to choose from to reach your target audience. From search engine optimization and paid search, to online directories and searchable catalogs, to social media and e-newsletters.

One marketing channel that’s experiencing significant growth is the online event. These virtual tradeshows offer a complete interactive experience for both suppliers and attendees, with features such as live chat, virtual booths, discussion panels, keynote presentations, content distribution, Q&A and more. Plus, no one has to leave their desk or incur travel and other related costs.

It’s important to integrate all of your online marketing channels into a cohesive program that can become more than the sum of its parts. Work with media partners who understand your needs and can help you pull together the right programs designed to meet your goals.

Maintain Focus on ROI

The requirement for marketers to demonstrate ROI is a trend that is here to stay. This year, choose measurable marketing programs and define your objectives and the success metrics against which you will measure your success. It’s an old saying in the business world, but it never really grows old: you can’t manage what you can’t measure.

By completing your marketing plans for 2011 with these trends in mind, you will put your company in position to gain advantage, because the decisions you make will help you become highly visible to, and discovered by, more potential customers.

About the Author: Chris Chariton is Vice President of Supplier Marketing and Marketing Services for GlobalSpec, the leading specialized vertical search, information services, e-publishing and online events company serving the engineering, technical and industrial communities. Chariton oversees many of the company’s marketing initiatives including e-mail marketing, demand generation and social media, public relations and advertising, and product management.  She can be reached at cchariton@globalspec.com.

Use This Easy Brand Audit Survey Template BEFORE You Put Your Marketing Plan Together

building your brandThe Canary in the Coal Mine: How a brand audit can indicate the “marketing health” of you business

“Surveys, focus groups, and other voice-of-customer inputs will be invaluable as you formulate new ways to position your offerings, differentiate your business, and stand out in a crowded marketplace.”

Your business’ brand is everything you do, everything, you say, and everything you stand for. It’s no less than the strategy of your organization. That’s why it’s important—no, critical—to take the pulse of your brand occasionally, and find out how it’s ticking.

Since early coalmines did not feature ventilation systems, miners would often bring a caged canary into new seams of coal. Canaries are especially sensitive to methane and carbon monoxide, which made them ideal for detecting any dangerous gas build-ups. As long as the canary in a coal mine kept singing, the miners knew their air supply was safe. A dead canary in a coalmine spelled an immediate evacuation.

So it is with your business—and your brand. You need to routinely check for leaks and missteps in your brand platform by checking in with your customers and, if possible, your prospects. Why? Because the marketplace is fickle. Trends, fashions, what’s hot and what’s not, and the economy, all conspire to make your customers and prospects a constantly moving target.

Surveys, focus groups, and other voice-of-customer inputs will be invaluable as you formulate new ways to position your offerings, differentiate your business, and stand out in a crowded marketplace.

A Simple Survey

While there is any number of ways to approach your target market to discover what they think about your business, you ultimately want to understand three fundamentals:

  1. Awareness (do they even know your business exists?)
  2. Engagement (are they currently using your products or services?)
  3. Satisfaction (are they happy with your current offerings and how they are delivered?)

When embarking on a brand strategy exercise or simply want to take the pulse of a business, I typically start with a line of questioning based on the following:

  • What does [Business Name] stand for in your mind?
  • What would you say is [Business Name’s] mission?
  • What is it about [Business Name] that makes it unique?
  • What is the greatest value [Business Name] provides to you?
  • What are [Business Name’s] greatest strengths?
  • What are [Business Name’s] greatest weaknesses?
  • What need does [Business Name] fulfill?
  • Why does society need [Business Name]?
  • Do you trust [Business Name]?

By deploying a simple survey, you’ll get to the heart of the awareness, engagement, and satisfaction questions, and you’ll be able to make the mid-course corrections necessary to keep your business communicating and acting in a way that your customers and prospects will respond to.

And even in the act of asking for their opinion, you’ll be providing value by engaging and establishing a relationship with customers and prospects, developing a dialogue with them, and getting to know your target market better.

About the Author: Michael DiFrisco is the brains behind BrandXcellence and the brawn behind the popular site How-To-Branding that coaches small businesses through the branding process.

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How Small Businesses Buy Technology — Like You and I

Industrial buyers are people too!

I used to go crazy working in a manufacturing environment and hearing sales people or executives go on and on about how “our customers” were different.  They were “industrial buyers”.  They were part of a buying center or committee — as if they had no pulse or something.  (Well, that part was true for some of them).  But in most cases, buyers are actually people; living breathing human beings who had a cup of coffee that morning or took their kids to school.  They thought about what they would do with that bonus and how they might get a little something nice for their spouse.

PEOPLE Make Decisions – Not Titles or Committees

So,  you can imagine how happy I was to see this latest study come out of Ivy Worldwide,  an integrated social media marketing company.  The short skippy of the results is that even when they are buying technology, business buyers behave like regular consumers.  Yup.  They buy computers and servers much like you and I buy a laptop or TV.

First they search the internet looking for what criteria they should be considering.  The same way that I’ve been searching for the internet trying to figure out how to compare these new HDTV’s; should I care about whether it’s 60Hz or 120Hz?  What about WiFi?  Nothing in the results points to any behavior that’s unlike standard purchasing behavior by the rest of us.

Next, they rely on word of mouth.  Once they understand what criteria they are looking for and which alternatives have that criteria, they are checking online reviews and  experiences by colleagues and friends.  The study also showed that most purchasers were not committed to a brand as they went through their purchasing process.

However, random conversations on Twitter and Facebook have little influence .

Buying technology for business is often an online purchase.  The study shows that 70% of their respondents purchase online.

And finally, the respondents said that large companies miss the mark when marketing to the small and medium sized business owner.  That’s no surprise.  I remember needing to update my virus software and going to McAfee.  While the site was very nice looking,  it was completely targeted to the large industrial IT buyer.  I couldn’t easily find the product I was looking for and quickly got frustrated and left.

What Can Provider’s Do

While this particular survey focused on technology purchases, I think the results are extremely useful for every company selling into the small and medium sized business market.

Who’s doing it well?  Hewlett Packard comes to mind (and was also mentioned in the survey) as a company that’s really committed to connecting with the small business.

I have personal experience with their small business marketing and they consistently show their commitment to connecting with and understanding the particular nuances of their market.

Download the full technology buyer results here and tell us what YOUR feedback is.

What company do YOU think does a great job at selling to you and which one does the worst?

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