Archive for December, 2009

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Accountability relies on data

Monday, December 21st, 2009
Written by: Dan Barnes

The evolution of database marketing platforms continues to help marketers manage and deliver quantifiable strategies for direct marketing. This is especially good news for companies and agencies striving to prove return on marketing investment, as the unstable economy over the past year and a half has increased the need to justify marketing spend and elevated the pressure on those of us who are asked, “What’s the ROI?” 

There is no need to shy away from the ROI discussion. The ability to attribute sales or leads against our efforts is something every marketer strives to achieve. The challenge with many companies in the B2B manufacturing space is the ability to manage data through the buying cycle. All too often leads are generated either through e-marketing, traditional direct marketing, or trade shows, only to be distributed out to a dealer base where the ability to track progress is lost. When this happens, the ability to correlate sales to marketing communications investment is impossible.

If companies are serious about accurate ROI metrics, they must commit to a data management model that, at minimum, closes the sales loop. Ideally, there would be metrics for ongoing communications efforts as well for programs that support service, aftermarket purchases, etc., to derive “lifetime” customer value. The ROI is only as good as the system in place for tracking sales. Agencies can provide metrics on things such as media value and competitive insights, but without the ability to follow customer behavior, there will not be accurate sales results that justify the investment.

The commitment to marketing ROI assessment is an enterprise-wide initiative.  There is a great deal of strategic planning and heavy lifting that need to happen at the front end. A good agency can lead a client into effective database management. However, if there isn’t a commitment by the client organization, then it’s very difficult to hold anyone accountable for accurately answering the question “What’s the ROI?” 

For more information on tracking your marketing efforts, see this recent article in DMNews.

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What do we know about the pipeline market?

Monday, December 14th, 2009
Written by: Greg Ehm

That was the question posed to our underground construction team this summer. Our honest answer was not much, but we were willing to learn as much as we could in a short period of time.

One of our clients, a leading horizontal directional drill manufacturer, challenged us to help them break into this growing market. The client is considered a worldwide leader in the horizontal directional drill market, but was not viewed as a player in the pipeline market.

Our underground construction team conducted extensive research with dealers, editors, and customers to better understand customer needs. We discovered the following:

  • This audience is rarely in the office. They are out in the field monitoring projects and building client relationships.
  • They prefer a personal touch, especially considering one of these machines can cost upwards of $3 million.
  • While they are all competitors, they do share information on best practices and equipment preferences.
  • They want to know the companies they work with truly understand their business.
  • They are busy and want information in a concise easy-to-use package.

Based on this information we worked with our client to develop a coordinated strategy to engage the audience through media relations, one-on-one sales contacts, and paid advertising. The core of the program was the development of the “Pipeline Binder.” This comprehensive piece was designed to demonstrate our client’s history in manufacturing and their experience in the horizontal directional drilling industry. The piece also provided an overview of the equipment solutions offered by our client and showcased their global support team.

The piece has been well-received in the marketplace and dealer demand for the binders has exceeded their initial goals. Our client also stated it’s one of the best pieces they have ever placed in customers’ hands. The Construction Writers Association also agreed and the Pipeline Binder received a first place award in their Corporate Communications division of their annual communication award program.

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More trade shows and websites may soon be audited

Friday, December 11th, 2009
Written by: Jeff White

We are all familiar with the publication auditing bureaus that serve many of the trades we’re involved in, independently ensuring that print publications’ circulation claims are valid, which has proved beneficial for both sides: selling print space and buying it.

Business-to-business marketers have for years been pointing to that model, asking when trade shows can get on board. And, as of relatively late, we’ve asked the same questions about e-newsletters and even websites: When can/will more of them be audited, so we have an independent validation of their audience … and we can make sure it matches up with our targets? All along, we’ve been saying that — like with the publishing realm example — this can be a win-win, for marketers, exhibitors, and buyers, as well as trade show organizers and online/digital communications channels.

We could be getting closer. B to B Magazine reported in October that BPA Worldwide (the foremost auditing bureau) is testing a new audit format called the “Brand Reach Audit.” Read about that and how American Business Media (ABM) plans to now include B-to-B digital spending in their reporting mix.

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