Tag Archives: #content marketing

3.5 Reasons to Skip Industry Awards

awardFor certain industries, such as financial services, that aggregate performance-related data – for example, in annual “league tables” ranking investment banks by the number or size of M&A transactions they’ve underwritten – there is some logic, as well as an objective basis, on which firms can claim to have outperformed their competitors.

But for most industries – lacking any quantitative basis or objective means on which to base relative performance of its individual companies – there are several reasons why participation in industry award competitions intended to recognize superiority or “excellence” can be a waste of resources, as well as a brand liability.

With the understanding that industry awards represent a substantial worldwide economic enterprise…here are 3.5 reasons why your ___________ (law, graphic design, accounting, management consulting, public relations, engineering, financial planning, advertising, technology, healthcare, beauty, payroll, etc.) firm should not participate in award competitions:

Reason #1: Your Awards Won’t Have Significant Influence on Prospective Clients

Fundamentally, awards are a form of extrinsic selling, and demonstrate your firm’s ability to do good work. But prospective clients are always more interested in what you can do for them, not in what you’ve done for others. Awards require prospects to make a leap a faith; to believe that your work for them will match or exceed your work for your other clients. And for some prospects, that’s a leap too large to take.

Most prospects also know that award competitions are not accurate barometers of the quality or consistency of the work you will provide. At best, awards may address the personal needs of some decision-makers who are more concerned with protecting their job (should your firm fail to deliver), rather than selecting the most qualified service provider.

Reason #2: Your Award Creates Another Content Beast that Must Be Fed

Because most award competitions are annual (and recurring sources of revenue for the sponsoring organizations), they have a very limited shelf life, in terms of your firm’s ability to promote the recognition. Most award winners proudly post the award icon on the home page of their website. But your “2016 Most Innovative IT Firm Award” begins to loose its luster around the month of July in 2017, as clients and prospects begin to wonder why your IT firm isn’t the winner of the 2017 award. If your firm has lost some of its magic, perhaps they should be looking at this year’s most innovative IT firm.

Like all other types of content designed to position your firm’s brand, industry awards are beasts that must be constantly fed. If your firm is unwilling or unable to make the commitment to pursue a particular award every year (and to risk losing, which is a strong possibility), then either pass on the competition altogether, or take down any award icons from your website that are more than a year old. Otherwise, your firm will be perceived as the 24 year-old who still wears his high school jacket with the varsity football patch. Living in the past.

Reason #3: Your Time is Better Spent Servicing Clients and Soliciting Prospects

Entering any industry award competition, if your firm is serious about winning, takes time and resources. For some firms with strong competitive instincts, this often becomes a lengthy, arduous process involving strategy sessions, dedicated teams, and even outside consultants who specialize in award submissions. (Yes, they do exist.) For large firms with deep pockets and low levels of marketing ROI accountability, award competitions can provide some level of validation for those executives looking to impress their CEO. But for small and medium-sized firms, where every marketing dollar is expected to yield tangible business results, award competitions make very little sense.

Rather than seeking brand credibility through what is a relatively weak 3rd party endorsement tactic (compared with earned media exposure, public platforms and direct client endorsements, for example) companies of all sizes are better served by re-directing award-related resources to strategies that foster referrals and increase the effectiveness of their direct solicitation process. Instead of hoping that your prospects will be impressed by your industry awards (if they happen to visit your website), build awareness and brand equity among target audiences with content that consistently showcases your firm’s intellectual capital in a non-self-serving manner.

Reason #3.5: The Award Selection System is Stacked Against You

Although the selection process for awards competitions varies greatly, all awards are subject to human bias and political / financial factors that are beyond your control, and that will always influence the outcomes. Even in “blind” competitions, if the basis of an award is subjective, relies on the opinion of a “blue ribbon panel,” or involves any type of voting / scoring system, most competitors will end up wondering why the designated winners were any more innovative, effective, attractive, or otherwise superior to them. Judging is always highly subjective, and never an accurate reflection of the best idea or solution.

For a host of reasons that are rarely discussed (such as the advantage of entrants who are advertisers in award competitions sponsored by industry publications), the award selection system is stacked against most competitors.

Their inherent weaknesses notwithstanding, and despite this particular rant, industry awards are not in any danger of losing momentum, and will remain as one component in the marketing tool kit. But the easiest tactics, like award recognitions, are not always the most effective or enduring ways to help your business grow. Think of industry awards as a car radio: they make noise, and can be nice to have…but it doesn’t help you reach your destination.

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7 Signs that You’re NOT a Thought Leader

wise-man-guru-mountain-top-photo

Thought Leadership is perhaps the most widely used and consistently abused strategy in professional services marketing. There’s diverse opinion regarding what it is, and fuzzy expectations with respect to its benefits.

Our simple definition is that Thought Leadership is a content marketing strategy designed to leverage intellectual capital as a means to engage target audiences. The practical benefits of Thought Leadership are delivered through the power of “intrinsic selling.”

Without getting overly theoretical, here’s what we mean by that:

“Extrinsic selling” occurs when a seller’s credibility relies heavily on work they’ve performed for other customers. This requires the prospective customer to make a leap of faith; to believe the service provider can match or exceed what’s been done for others. It’s a “trust me” sales approach.

Conversely, intrinsic selling does not require a prospective client to base their selection on work done for others. Instead, it engages the prospective client based on ideas, opinions and advice that enables them to make their own objective decision regarding the seller’s potential to add value. Because no leap of faith is required, it’s a more powerful sales methodology.

The intellectual capital embodied within Thought Leadership is what provides you with credibility, and gives potential buyers the confidence to do business with you. It also serves as a sophisticated sales hook designed to grab their attention.

It’s easier to understand what Thought Leadership is by examining the behaviors that are contrary to its fundamental principles.

So here are 7 signs that you’re not cut out to be a Thought Leader:

  1. You call yourself a Thought Leader. Worse yet, you call yourself a “visionary.” Thought Leadership is not a mantle that can be claimed. It’s a market perception that’s earned over time, and an unofficial stature that’s assigned to you by others.
  2. Your editorial content is self-serving. If you’re unwilling to provide insights, information and recommendations without making yourself the hero, or without directly plugging your firm’s products / services, then you’re not really practicing Thought Leadership.
  3. You lack original or interesting ideas. Repurposing “archived” content (a/k/a other people’s thinking), or providing summaries or news reports of information that’s available elsewhere, will likely position you as an industry parrot, rather than a Thought Leader.
  4. You’re not a true student of your craft. Bona fide Thought Leaders are constantly focused on the current state and future direction of their professional discipline. They appreciate that a rising tide floats all boats, and unselfishly share what they know and think.
  5. You think Thought Leadership has a goal line. If you’re looking for instant gratification, and don’t completely believe, at the outset, in the long-term value of Thought Leadership as an ongoing marketing strategy, then simply scratch it off your to-do list.
  6. You refuse to share the spotlight. The most effective Thought Leaders seek to manage, rather than control, the conversation. Rather than pushing their own viewpoint, they define and promote topics and identify people worth paying attention to.
  7. You’re unwilling to work hard. Consistency is the most significant hurdle in the quest for Thought Leadership. To establish a level of top-of-mind awareness required for your target audiences to form and sustain a positive opinion, you need to generate relevant content on a quarterly basis. And that requires personal (or enterprise) discipline.

Just to be clear…the most effective Thought Leaders are not in the game for altruistic reasons. They expect a tangible return on their investment, in terms of market engagement.

Toward that end, a Thought Leadership strategy must ensure that your intellectual capital – whether it’s initially presented in a public platform (such as a seminar), through earned media (publicity), or owned media (social) channels – is also delivered directly to all relevant target audiences in a manner that’s not self-serving, and that fosters two-way conversations.

For example, rather than publicly touting that you’ve been quoted in the Wall Street Journal, you should leverage that media exposure in a more nuanced, sophisticated manner. You can expand on the underlying topic in a direct communication to clients, prospects and referral sources, soliciting their thoughts, and referencing the Wall Street Journal article (rather than your specific quote in it) as a catalyst for the discussion.

This long-winded perspective is not intended to dissuade you from seeking Thought Leadership status. To get started, you should identify a relevant, respected Thought Leader, study how they’ve earned that status, and then simply jump into the pool. Once you’re comfortable in the water, there will be ongoing opportunities to tailor an effective Thought Leadership strategy.

In true Thought Leadership fashion, please share your opinions, experiences and frustrations involving this battle-worn marketing strategy.

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B2B Marketing Needs One Giant Step…Backwards

Vest Pocket BrochuresIn the dark ages of B2B marketing communications, circa 1980, the goal was to get your snail-mailed communications past the office gatekeepers (a/k/a “executive assistants”), and onto the desks of your targeted decision-makers.

Most often, however, the sheer volume of first-class mail processed every morning by office gatekeepers made it more likely that your personalized pitch letter and costly sales brochure would end up, unopened, in the garbage can. Dead on arrival.

But starting in the mid-1990s, corporate adoption of email communication changed the dynamics of direct marketing.  First-class mail volume dropped from a peak of 59 billion pieces in 1996, to 23 billion pieces in 2013 — a 61 percent decline.

So in theory…this significant reduction in snail mail volume meant that the bar for getting materials past the office gatekeepers was lower; making it far easier to get your marketing materials into the hands of intended targets.

But that’s not what’s happened.

Instead, in lemming-like fashion, B2B marketers largely abandoned snail mail as a viable marketing communication channel, and adopted email as their “direct” medium of choice.

Now, 20 years later:

  • The sheer volume of email, even with clever Subject lines, makes it nearly impossible to gain the attention of targeted decision-makers; and
  • Misguided “eco friendly” practices (notably, failure to appreciate the paper industry’s stellar record of sustainable forest management) have fostered a generation of lifeless marketing collateral that’s either viewed onscreen, or downloaded and printed in PDF format on office printers.

As a result, today’s B2B marketers are failing to capture opportunities to connect with prospects through physical materials, in a business environment where the arrival of personalized, first-class mail is often a unique event; prompting most gatekeepers to ensure that it’s delivered to the intended target.

In addition to capturing this marcom window of opportunity, marketers would be well-served to take an additional giant step BACKWARDS…by developing “Ink on Paper” collateral materials that build brand stature.

What marketers will gain by recapturing the lost art of Ink on Paper includes:

Visceral Impact – Pixels on a screen have no weight, no dimension, no texture, no smell. Ink on Paper places something physical into a person’s hands. They open the cover and turn its pages. It’s a sensory experience that communicates on human terms, and that cannot be replicated by a flimsy PDF reprint created on a laser copier.

Personality – The range of creative expression using pixels is limited by the fixed dimensions of a flat glass screen. Ink on Paper lives on a canvas of unlimited graphic possibilities, in terms of size, shape, color and physical features. It provides an opportunity to stand out from the crowd, to express yourself more effectively, and to make an impression that’s likely to be remembered.

Permanence – People scroll through computer screens at hyper-speed. The volume of information is unlimited, and no intellectual commitment is required of viewers. Ink on Paper moves in slow motion, forcing readers to pay closer attention to its content.

Whether they sit on a desk or in a vest pocket, high quality printed materials suggest that the people and company who produced them actually exist, have nothing to hide and can be trusted.

Practitioners in most disciplines are often quick to embrace new tools and methods that enhance their results and professional satisfaction. But a much smaller number of those professionals understand the importance of sticking with, or adapting, existing tactics that work well. They do not fear appearing out-of-touch or old fashioned.

Seasoned marketers who have thrown the baby out with the bathwater in their wholesale adoption of digital communications, as well as more recent arrivals to the marketing profession who have always lived in a paperless world, would be well-served to reconsider Ink on Paper as a medium.

No marketing communications program is truly integrated without high quality print collateral.

Try using those materials as the basis for a snail mail campaign with clients or prospects, and see what happens. Ideally, do it before your competitors discover the opportunity.

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The 2 Most Deadly Sins of B2B Marketing

deadly sinsThere are two major reasons why marketing is failing at your small- or medium-sized B2B firm:

You view marketing as business triage. Your company applies a collection of tactics (often labeled as a “marketing campaign”) only in response to a problem; typically involving the loss of a key client, or decline in revenue. When business is good, little or no time is invested in marketing. When business (inevitably) takes a dip, only then does marketing becomes a priority.

You expect marketing to deliver immediate results. Either because your company always views marketing on a “cause & effect” tactical basis, or because marketing triage must be applied quickly to revive an ailing company, the marketing function is given insufficient time to produce tangible results. It’s no surprise that marketing professionals have the shortest tenure of any corporate function in the asset management business.

The hard truth is that very few B2B business owners either understand the marketing function, or have the discipline to design, implement, measure and adhere to a consistent marketing approach that builds brand equity and market engagement over a sustained period.

To establish the infrastructure and internal culture necessary for the marketing discipline to succeed, we offer the following simple path:

  • Create a Written Marketing Plan. This need not be in a 3-inch binder; a two-page document is often sufficient. Include goals, strategies, responsibilities, timelines, budgets and ways to measure results. Without a Marketing Plan you’ll waste lots of time and money. And unless it’s a written document, you won’t have commitment or accountability.
  • Gain Senior Level Commitment. The honcho in corner office (which might be you) must understand, endorse and support the Marketing Plan. This involves more than lip service. If your Plan isn’t properly staffed and funded at the outset, there’s no real commitment to marketing.
  • Do a Few Things Very Well.Your marketing success will be based on the quality and effectiveness of a limited number of strategies / tactics. Firms sometimes go overboard, thinking there’s a correlation between the size of its marketing investment and business results. But less is usually more, in terms of marketing ROI.
  • Build and Nurture your Database.Direct and easy access to your company’s clients, prospects, referral sources and opinion leaders is essential. Without an email pipeline, the marketing value of the content you create is close to zero. If your firm’s thought leadership simply sits on its website or social media, you’re missing the opportunity to build relationships with people in your target audiences.
  • Create Meaningful Content. Self-serving, long-winded white papers and research reports have very limited appeal. Generate content that validates your company’s intellectual capital, that’s easy to read, and focuses on timely topics that people have a genuine interest in.
  • Drive Top-of-Mind Awareness. To be included on the short list of candidates for an assignment or sale, you need to build awareness with key decision-makers. To accomplish that goal, share your content directly with target audiences on a quarterly basis. (More frequently than that, and you may be viewed as a pest.)

Most importantly – with apologies to Glengarry Glen Ross – B2B firms must commit to:

A…..Always

B…..Be

M….Marketing

…for the discipline to be effective. Otherwise, the traditional short-term, hair-on-fire approach to business development will keep your company from ever reaching its full potential, regardless of its quality or reputation.

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Time to Kill Your Company’s Zombie Blog?

zombieWhen pressed to explain why their company has a blog, many CEOs will admit they were either pushed by marketing counsel to create one, or believed they needed a blog because their competitors have them. Few CEOs understand the purpose of a blog, and most members of that small group are not convinced that their blog delivers any tangible value.

CEOs and marketers who are currently deciding whether to establish a company blog might consider these 3 reasons to forget the idea altogether:

  • You’re not convinced there’s a connection between your blog and your business objectives.

The intranet is a graveyard of dead company blogs, representing well-intentioned, half-baked and underfunded efforts to benefit from content marketing. Many of those blog casualties represent efforts to “put a toe in the water,” as a means to determine whether the company should make a serious, long-term commitment to a blog.

Unfortunately, a blog is much like a marriage, but without dating in advance of a commitment. First, you must conduct due diligence, then you make a long-term commitment…for better or worse. Many blog failures, in fact, are the result of reluctant brides (doubting CEOs) who are willing to give conditional or temporary approval to proceed, which often serves as sufficient rope for the marketing department to hang itself.

CEOs and their marketers are best served, and their blog is most likely to succeed, if senior management understands its function, benefits and limitations, and is 100% committed to a very long relationship.

  • You’re unwilling to provide your blog with the necessary resources.

A sizeable number of dead and useless blogs are doomed to fail because they lack the economic and human resources required to create and sustain an effective corporate blog.  Unfortunately, the typical blog development strategy consists of these 3 steps:

  • The IT Department will add a new “blog” page to the website.
  • Content creation will be an internal group effort, with people / departments taking turns contributing blog posts on a regular basis.
  • The Marketing Department will manage the content creation process, suggesting topics and prompting individuals to contribute their posts according to a schedule.

Three months later, the Marketing Department grows tired of hounding would-be content contributors, and management is not seeing the expected increase in lead generation or even website traffic. Posting frequency drops from weekly to monthly to quarterly. The corporate blog gradually becomes an internal albatross and an external brand liability.

CEOs and their marketers are best served, and their blog is more likely to succeed only if senior management allocates the resources to hire or engage the editorial horsepower necessary to produce high quality content on a consistent basis that:

  • Supports the value proposition and related core messages
  • Engages target audiences
  • Is associated with measurable business goals
  • Strengthens brand stature

Lacking the proper resource allocation (which does not mean simply adding blog management to marketing’s plate), and not making specific individuals accountable for its success are two ways to guarantee your blog’s failure.

  • You don’t have a well-defined content marketing strategy, or you’re unwilling to stick to it.

Even with management’s full support and proper resource allocation, many blogs become editorial Zombies: moving and breathing, but with no heart and soul, simply sucking the lifeblood out of their corporate hosts.

Without an intelligent content marketing strategy that’s directly related to your company’s brand positioning, competitive landscape and sales initiatives, your blog wastes corporate resources and represents an opportunity loss. If blog activity is not driven by a strategic plan and editorial calendar that’s endorsed by senior management, and if your blog agenda is usually based on a frantic search for content – from any source, and regardless of its relevance – then your blog is one of the living dead on the internet.

CEOs who understand the power of an effective blog, and who have the backbone to support content marketing as a viable means to advance the enterprise, deserve to be rewarded with a program that delivers bona fide thought leadership and market engagement; not a constant stream of repurposed news items, self-serving photos from the company’s latest mud run, or press releases and job postings that your customers, prospects and referral sources will never care about.

If your company has already created a Zombie blog, and is unwilling to take the steps necessary to bring it to life, then it’s time to drive a stake through its heart. Just take it down. No one will miss it. And your company’s internal harmony, balance sheet and brand reputation will all benefit as a result.

 

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Making the Short List: Get into the B2B Game or Go Home

Struggling to make ends meet as a young teacher, I pursued a part-time job as a waiter at a popular local restaurant, where I was told there were no positions available. I completed an employment application…just in case…and handed it to the restaurant manager, who thanked me, and placed my application on top of a very tall stack of papers on his desk.

As I left his office, I asked the manager about my chances of getting a waiter’s job there. “You see this big pile of applications?” he chuckled.

Not satisfied with his answer, I asked, “When a waiter position becomes available, how will you select which candidates to interview?”

The manager replied, “That’s easy. I just pick 3 applications from the top of my pile.”

So I made him an offer. “I really need this job. I’ll come back here every few days to complete a new application, so that mine stays at the top of your pile. Or you can hire me as a busboy right now, and I’ll clear tables and wash dishes for as long as it’s necessary, if you promise to give me the first waiter position that becomes available.”

I served as a busboy for two months before I earned a job as a waiter, which helped to pay my bills. More importantly, the experience provided some valuable insights about “making the short list” that continue to have direct application to our B2B marketing business.

“Making the short list” in B2B marketing means that your firm has been chosen by a prospective client as a candidate for an assignment. At least 3 candidates, and as many as 5 or 6, are typically included on a potential client’s short list.

For a B2B firm, making the short list is always a priority, and here’s what my restaurant experience taught me on the subject:

Provide Good Reasons to be on the Short List

The restaurant manager had a few good reasons to put me on his short list. He knew I was motivated, and different from those applicants who were willing to participate in his selection process.  More importantly, I positioned myself as a safe choice by giving him an opportunity to evaluate my potential as a waiter, based on my actual performance as a busboy.

Your B2B firm must find meaningful ways to differentiate itself and showcase tangible assets. Claiming your firm “has 80 years of combined professional experience,” for example, is not a strong value proposition. Having a blue chip client explain, in a short video, her selection criteria and experience with your firm, is far more likely to earn you a spot on a prospect’s short list. Third-party validation also addresses career risk: the prospect’s fear that hiring the wrong outside resource will affect their own reputation, bonus or employment status.

There are many ways to differentiate yourself in a competitive marketplace, but most often they require some original thought, clever packaging and elbow grease.

Put Your Firm into a Position to Make the Short List

Unlike my tenure as a busboy, you won’t be able to demonstrate value directly to a potential client in advance of an actual engagement. But for starters, your B2B firm must maintain a consistent presence on all the radar screens that your prospects monitor. “Fist-call capability” is how well your firm puts itself in a position to be noticed by target audiences, and it’s the key factor affecting your chances of making the short list.

What’s surprising in our current B2B world – where at least 70% of the short list selection process in made online, in advance of any direct contact – is that so many B2B firms have ineffective or outdated websites; provide no catalysts to drive traffic to their website; generate no content to validate their intellectual capital; and fail to properly leverage social media tools, such as LinkedIn, that prospective clients use to discover candidates for their short list.

Many B2B firms believe that simply doing great work for existing clients will drive all the referrals and word-of-mouth recommendations necessary to put them on short lists, or allow them to avoid having to compete at all.  Their lunch is often eaten by competitors who not only do great work for clients, but also don’t rely on others to put them on the short list.

Increase Your Odds of Making the Short List over the Long Haul

The most difficult aspect of marketing for B2B firms involves transparency: never knowing when your prospects are ready to buy. I was prepared to re-apply for the restaurant’s waiter position every week if necessary; but that level of persistence is more likely to eliminate a B2B firm from short list consideration. A more sophisticated, strategic, nuanced approach is required.

To drive consistent top-of-mind awareness with target audiences, you’ll need to do far more than simply show up all the right radar screens. Over the long haul, your B2B firm must communicate directly, consistently and effectively with its clients, prospects, referral sources and employees.  This is an easy concept to understand, but it’s the exception rather than the rule in B2B marketing. We are more likely to see B2B firms with great thought leadership that’s not appreciated by their target audiences, for lack of an effective CRM system; B2B firms that religiously push out canned newsletters and curated content that diminishes their brand stature; and B2B firms that fail to appreciate how their employees can serve as either brand ambassadors or terrorists.

There’s a profoundly simple, Yogi Berra-esque message here: you first need to get into the game, if you’re hoping to win it. In a business world increasingly driven by RFPs and RFIs, and where gaining and maintaining visibility with decision-makers is essential, B2B firms need to add “Short List Participation Rate” as a key performance indicator for their marketing investment.

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B2B Conferences: Essential Marketing Tactic…or Waste of Time and Money?

Regardless of industry, B2B conferences and seminars can be a significant waste of time, money and opportunity. But the conference sponsor is typically not at fault for the lack of return on this marketing investment. It’s often the result of poor planning, lack of creativity, laziness or unrealistic expectations by the companies that participate in them.

Here are three issues you should address, in advance of investing in a conference of any kind:

Do I understand the inherent marketing value of conferences? Before it became a “pay to play” world, there was some brand stature and inherent 3rd party endorsement associated with participation as a keynote speaker or panelist on a conference agenda. Nowadays, however, even if you’re invited to speak, attendees will likely assume that you’ve paid for the privilege, so the brand cachet is diminished.

The real marketing value of participation in any conference agenda is not based on what you say to the 100 attendees during your 15 minutes on the podium. Instead, it’s based on what you do, both before and after the conference, to reach, influence and engage the 1,000+ or 2,000+ decision-makers who were either too busy or too important to attend the event. In many respects, a conference simply provides a legitimate reason to communicate with those individuals who are most important you.

Do I have the internal discipline to make conferences a worthwhile investment? Because conferences are expensive, inefficient, haphazard and difficult to evaluate, you must establish an internal discipline and specific strategies to harness their marketing value. For starters, you need access to a robust, accurate database of your clients, prospects and referral sources. Possessing a list of conference attendees, either before or after the conference, is of lesser importance.

You also need to create a detailed communications strategy – tailored for each event – that addresses how you intend to:

  • Share intellectual capital associated with the event (either generated by you or someone else), and how to
  • Leverage that intellectual capital to drive engagement with your target audiences either before and / or after the conference.

For example, if you’ve given a conference presentation, you can send highlights of your remarks to your database shortly after the event, and offer to send them your complete remarks or PowerPoint slides. Or you can convert your presentation into a bylined article for publication in an appropriate business or trade journal, and then send target audiences the published piece along with a personalized cover note.

If you’re not on the podium, you’ll need to be more creative. For example, you might send your target audiences a “Sorry I missed you…” communication that provides your insights on the conference’s highlights, or expresses a contrarian viewpoint related to its underlying theme. Or you might even consider hi-jacking the conference agenda, by inviting high-value targets to a roundtable discussion / reception at a very exclusive venue near the event. (Conference sponsors do their best to prevent this type of guerilla marketing.)

In all cases, the strategic goal is to amortize the time and money you’ve invested in the conference, in order to reach a wider and sometimes more appropriate audience. By using the conference credibility (or its related topic / theme) to showcase your intellectual capital, drive top-of-mind awareness and foster direct engagement, you’ll have a much greater likelihood of yielding a connection between the event and tangible business metrics, including new client engagements and revenue growth.

Are my expectations for this conference realistic? Sometimes lightning actually does strike: you’ll make a connection at a conference that eventually leads to new business. But most of the time, putting your company’s logo on a lanyard, participating in a panel discussion, or sponsoring a mid-morning coffee break will lead to absolutely nothing. If there were a consistent direct connection between conference participation and business growth, there would be a very long waiting list for sponsorships.

If you understand that conferences will always be a low percentage marketing strategy, then you have a clear choice. You can either:

  1. Avoid conferences altogether, by hosting your own private events or programs.
  2. Leverage your participation to showcase intellectual capital with a wider audience.
  3. Simply enjoy the camaraderie, the golf / tennis / beach, and the nightlife…and hope for the best. In short, conference participation is similar to all other marketing-related tactics. Smart, focused and strategic will always produce better outcomes than “one-size-fits-all” solutions.

In short, conference participation is similar to all other marketing-related tactics. Smart, focused and strategic will always produce better outcomes than “one-size-fits-all” solutions.

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Why Your B2B Marketing Isn’t Working

Inconsistency Kills Most B2B Marketing Strategies

Inconsistency Kills Most B2B Marketing Strategies

There are two major reasons why marketing is ineffective at B2B firms, regardless of size or industry:

  1. Marketing is viewed as triage. The company applies a collection of tactics (often labeled as a “marketing campaign”) only in response to a problem; typically involving the loss of a key client, or decline in revenue. When business is good, little or no time is invested in marketing. When business (inevitably) takes a dip, marketing becomes a priority. This classic behavior is depicted in the “Sales / Service Volatility Curve” chart above.
  2. Marketing is expected to deliver immediate results. Either because the company views marketing on a cause & effect tactical basis, or because marketing triage must quickly revive an ailing company, the marketing function is given little time to produce tangible results. It’s no surprise that Chief Marketing Officers have the shortest tenure of any corporate function.

Individually or collectively, both of these circumstances drive the #1 reason why B2B marketing does not work:

INCONSISTENCY

The sad truth is that very few B2B firms either understand the marketing function, or have the discipline to design, implement, measure and stick with a marketing approach that builds brand equity and market engagement on a consistent basis.

As an alternative to changing careers, and to establish the infrastructure and internal culture necessary for the discipline to succeed, we offer marketers (and B2B business owners) the following simple path:

  • Create a Written Marketing Plan. Include goals, strategies, responsibilities, timelines, budgets and ways to measure results. Without a Marketing Plan you will not succeed. And unless it’s a written document, you do not have a Marketing Plan.
  • Gain Senior Level Commitment. The corner office must understand, endorse and support the Marketing Plan. The Plan must also be properly staffed and funded upfront.
  • Do a Few Things Very Well. Marketing’s success will be based on the quality and effectiveness of a limited number of strategies / tactics. Less is usually more.
  • Build and Nurture your Database. Direct and easy access to your company’s clients, prospects, referral sources and opinion leaders is essential. Without this pipeline, the marketing value of the content you create is close to zero.
  • Create Meaningful Content. Self-serving white papers and client case studies have very limited appeal. Generate content that validates your company’s intellectual capital, on topics that target audiences have a genuine interest in.
  • Drive Top-of-Mind Awareness. Leverage your thought leadership content by sharing it directly with target audiences on at least a quarterly basis. More importantly, use content to initiate two-way conversations that build relationships in advance of sales.
  • Connect with the Sales Force. There’s no better way to find if and how well your marketing strategies are working, or to gain an understanding of the marketplace.

Most importantly – with apologies to Glengarry Glen Ross – B2B firms must:

A…..Always

B…..Be

M…..Marketing

…for the discipline to be effective. Otherwise, the traditional short-term, hair-on-fire approach to marketing will keep your B2B firm from ever reaching its full potential.

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Research Integrity: The Achilles Heel of Content Marketing

The marketing profession has a reputation for sometimes using less than reliable market research to promote a point of view. And this marketer has been guilty of that sin.

Years ago, our insurance company client was introducing a new Directors & Officers liability insurance policy, and asked us to raise market awareness. With good intentions, but given no budget or time to perform proper market research, we interviewed a total of 6 corporate CEOs and board members to provide some validation to the underlying premise of our press release. The headline read: “Most Corporate Directors & Officers Believe They Are Not Protected Properly from Legal Risk.”

With very little expectation that a premise based on such shoddy research would qualify for exposure in the financial press, and dreading inquiries from journalists asking about our research methodology, the release went out. To our great surprise, we received no calls from reporters checking the facts, and the story was immediately picked up by two major wire services, and appeared as a news squib on the front page of the Wall Street Journal, followed by coverage in several business insurance trade publications.

Our client was overjoyed with the media exposure, but we felt less than honorable, and resolved that we would never use market research to promote a client’s product or service unless we believed the supporting methodology had sufficient rigor. And over the years we’ve lost work as a result.

Research integrity was an issue long before the internet became the platform for content marketing. Most often, your research-based news items would not be covered by respected media sources unless you ran the credibility gauntlet. Editors demanded your research methods and data, and had to be convinced that your study was objective and legitimate. Our very thin D&O liability research was a rare and risky exception…and perhaps a sign of things to come.

For well understood reasons, the “legitimate press” now has neither the manpower nor the time to dig deeply for validation of market research that supports content generated by organizations. The loss of this important filter, coupled with the explosion of online content, has created a marketing world in which sloppy, incomplete (and sometimes blatantly false) research generates news items that can go viral and become accepted wisdom. Pumping out content in volume has become far more important than creating high quality content that could withstand the scrutiny of a hard-nosed editor.

What this new world of content marketing means for individuals is simple: assume that all “research-based” information requires close scrutiny. Believe nothing at face value. If it’s important to your business strategy, or you intend to adopt the research to support your own point of view (or upcoming PowerPoint presentation), then you’ll need to become the hard-nosed editor who scrutinizes the original source; who looks at the sample size, respondents, questions asked, etc.; and who determines whether the research results legitimately support the conclusions.

What this new world of content integrity means to companies is more complex: assume that the “research-based” content that you produce is a reflection of your brand’s integrity. For the Marketing Department, this involves educating the corner office regarding the rigor, time and costs involved in market studies, surveys, research necessary to yield content worthy of customer-facing applications. For the corner office, this involves calculating whether the intended marketplace outcome is worth the necessary investment, and avoiding shortcuts.

Without the 4th Estate as the content gatekeeper, there is now far greater opportunity for companies to benefit from content marketing. And by not adopting the market research integrity standards that journalists long upheld, there are far more ways for companies to damage their brand through content marketing.

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The Real Price We All Pay for “Brand Journalism”

propaganda babyThe historical roots of journalism, now encompassing all mass media, were nurtured by its role as The Fourth Estate; the independent public watchdog that keeps in check the three major democratic “estates” of power (in Britain the houses of Parliament, in America the three branches of government). So in spite of the great amount of attention it pays to murder trials, royal weddings and the lives of celebrities, the media plays a critical role in a democratic society; and to function properly it must be objective, unbiased, transparent and independent.

One current challenge to journalism’s mandate is that the line between news and entertainment continues to erode. All media sources compete for the same eyeballs, so speed has become more important than accuracy in reporting, and there are no rules regarding how the news is gathered. The journalist’s role has shifted from fact-based reporting to opinion-based commentary. Journalism has morphed into “communitainment.” And Edward R. Murrow is not pleased.

Erosion of journalism’s mandate has accelerated with the growth of “brand journalism,” which is content specifically created to promote commercial interests, very often in a non-transparent manner. Promotional messaging that for decades had been identified and quarantined by the media as ADVERTORIAL content – now safely re-branded as “sponsored” or “native” content – has gained legitimacy as bona fide editorial information worthy of placement in the New York Times or the CBS Evening News.

We live in a world where our knowledge, perceptions and culture are shaped by Google searches, Facebook posts and YouTube videos, and where technology and economic forces have created the perfect Petri dish for commercial agendas to overwhelm the volume and attention given to objective editorial interests. So is there a price to be paid for the loss of a free and independent press?

A few years ago, veteran journalist Bill Moyers explained what’s happened to journalism this way: “Our dominant media are ultimately accountable only to corporate boards whose mission is not life, liberty and the pursuit of happiness for the whole body of our republic, but the aggrandizement of corporate executives and shareholders…These organizations’ self-styled mandate is not to hold public and private power accountable, but to aggregate their interlocking interests. Their reward is not to help fulfill the social compact embodied in the notion of “We, the people,” but to manufacture news and information as profitable consumer commodities.” [Read Bill Moyers “Is the Fourth Estate a Fifth Column?: Corporate media colludes with democracy’s demise” in its entirety.]

As we continue to feast on mind-numbing, easily digested communitainment, and as we readily accept well-disguised commercialized propaganda as objective news and information…let’s keep in mind what we’re really giving up.

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