2009 has been a funny year. (now that I think about it, am I really laughing?)
We're encountering two recurring themes -- web sites are the marketing "tactic" companies are most commonly seeking and manufacturers are expanding into foreign markets in order to offset some US based losses.
Okay. Those two things don't define the entire universe. But you can't ignore a trend.
So that begs the question: How do the two efforts come together?
For starters, marketers must evolve past the standard thought process: "I'm doing business in Germany, I need to translate our site." (Our PR Guru is German by the way, so if you need German translation...)
http://www.wavelengthresults.com/agency/jennifer_taylor.asp
Effective online and global marketing integration in today's market looks more like this:
-- Translations that allow for regional content appropriateness (Glocalization)
-- Site tools that enable marketing material distribution to resellers and distributors, thus streamlining the building of the brand with new customers
-- online brand standards to ensure brand consistency from market to market
-- customizable marketing materials that are available to distributors on their schedule (i.e. when you're sleeping, they may be working. I remember having to coordinate with an overseas office back in the old days. The time delay from a business standpoint is brutal).
Then there's Search, Search, Search. (Has the repetition driven home the importance?)
The Internet has made your business a global one in ways you may already be aware of -- and some you may not. It's absolutely essential that you harness "technology" to the benefit of your global marketing efforts. Proper use of technology will drive results.
Search is especially potent for small and medium-sized businesses seeking to cultivate a foreign market.
It's possible that if you have a relevant product and a web site, that you've already gone global. Without even knowing it. (Search drives up to 40% of a supplier's traffic, BTW). What an interesting thing to consider.
Is your web site "ready?" Think about it...
Wednesday, April 29, 2009
Going Global?
Whether your small, medium or large...these days, going global might represent a solid opportunity for growth. Some companies are entering foreign markets by carefully planned design. Others find that through a series of circumstances, they're a global marketer!
Effective global marketing requires more than translating your brochure and web site. To truly integrate into your chosen market, marketers must be focused on building -- and protecting -- their brand.
And striving to achieve regional relevance.
Relevance is key. According to Interbrand, 70% of your brand and its expression must remain consistent from market to market -- an excellent rule of thumb.
That leaves 30% for regionalized expression of your brand. It's this last 30% that often makes the difference between successful market entry and mediocre results.
Content is a marketer's best opportunity to achieve relevance. But in order to do so, you need:
-- an understanding of the relationship between the "end user" and your product/service.
-- the ability to deliver your message effectively
-- an understanding of the best channels through which your message can be delivered.
We suggest that you tap your feet on the street to gain this insight -- your distributors or resellers who are based in the new market. Engage them to find out what messages related to your product will best resonate with buyers in their market.
Be sure to use some of the Google Tools to help craft your messages (Google Insights) and plan your search strategy (Ad Planner). Proper planning ensures appropriate use of program funding.
We're finding that small and mid-sized firms are most intimidated by the process associated with "going global." But often, these are the folks with the most to gain from proper brand building and global marketing strategies. If you keep it realistic...and manageable, your company can achieve long-term growth abroad.
More thoughts on Going Global later. We'll talk about how to use technology to protect your brand AND get your message out.
...thanks for reading.
Effective global marketing requires more than translating your brochure and web site. To truly integrate into your chosen market, marketers must be focused on building -- and protecting -- their brand.
And striving to achieve regional relevance.
Relevance is key. According to Interbrand, 70% of your brand and its expression must remain consistent from market to market -- an excellent rule of thumb.
That leaves 30% for regionalized expression of your brand. It's this last 30% that often makes the difference between successful market entry and mediocre results.
Content is a marketer's best opportunity to achieve relevance. But in order to do so, you need:
-- an understanding of the relationship between the "end user" and your product/service.
-- the ability to deliver your message effectively
-- an understanding of the best channels through which your message can be delivered.
We suggest that you tap your feet on the street to gain this insight -- your distributors or resellers who are based in the new market. Engage them to find out what messages related to your product will best resonate with buyers in their market.
Be sure to use some of the Google Tools to help craft your messages (Google Insights) and plan your search strategy (Ad Planner). Proper planning ensures appropriate use of program funding.
We're finding that small and mid-sized firms are most intimidated by the process associated with "going global." But often, these are the folks with the most to gain from proper brand building and global marketing strategies. If you keep it realistic...and manageable, your company can achieve long-term growth abroad.
More thoughts on Going Global later. We'll talk about how to use technology to protect your brand AND get your message out.
...thanks for reading.
Friday, April 24, 2009
Recession Marketing Part 3 -- Integrate Online and Offline
Some more thoughts on making the most of your marketing during these most unusual times...
We've talked about rethinking, not just reducing, your marketing spend, looking at your program as a whole to identify the best ways to invest your budget, regardless of its size...
Google has unveiled a pretty cool tool that allows marketers to find out what phrases marketers are really using when they're searching for products and services (hint: it's not Google Keywords and if you'd like to know more, shoot me an email). Basically, you can learn loads and loads about what your customers are thinking. And apply it to the materials that drive your customers where? Back to your web site where you can draw them ever deeper into your unique and meaningful benefits.
I'll say it again because it bears repeating: these are not days to be wasting marketing dollars. These are days to be maximizing the awareness you have, and engaging customers for that moment when the tide turns positive again.
Use every trick in the book (that's ethical) to position yourself for success.
I'm giving a presentation on global marketing tomorrow, so we'll take a hiatus from recession marketing for a few days. Can't say I mind. Is anyone else tired of bad news?
Check back tomorrow...thanks for reading
We've talked about rethinking, not just reducing, your marketing spend, looking at your program as a whole to identify the best ways to invest your budget, regardless of its size...
But once your budget is properly invested, should you stop there?
No. Now it's time for message overhauls.
Many marketers do a fine job of making sure that their marketing messages are customer focused (and some don't, deferring to inside out messages that don't resonate with buyers). But is crafting messages that present the ways in which your products or solutions solve customer problems enough?
No matter how good your creative is, there's always room for improvement.
Message relevance is an excellent way to connect with buyers and outwit competitors.
There are online tools that offer invaluable insight into the phrases that customers use to search for solutions. This information can not only be used to enhance your search rankings by integrating it into your content and navigation strategy. It can be used to enhance your offline efforts and improve the effectiveness of your print materials.
Google has unveiled a pretty cool tool that allows marketers to find out what phrases marketers are really using when they're searching for products and services (hint: it's not Google Keywords and if you'd like to know more, shoot me an email). Basically, you can learn loads and loads about what your customers are thinking. And apply it to the materials that drive your customers where? Back to your web site where you can draw them ever deeper into your unique and meaningful benefits.
I'll say it again because it bears repeating: these are not days to be wasting marketing dollars. These are days to be maximizing the awareness you have, and engaging customers for that moment when the tide turns positive again.
Use every trick in the book (that's ethical) to position yourself for success.
I'm giving a presentation on global marketing tomorrow, so we'll take a hiatus from recession marketing for a few days. Can't say I mind. Is anyone else tired of bad news?
Check back tomorrow...thanks for reading
Thursday, April 23, 2009
Recession Marketing Part 2 -- Don't reduce, Rethink!
In spite of some moderately good news about the economy, and how we may have hit bottom in some industries, how to market in this environment remains a hot topic for many B2B marketers.
Yesterday, we established that ceasing marketing altogether is a very dangerous proposition for any company, regardless of size. I remember in the late 90s when a prominent construction equipment manufacturer decided not to exhibit at the industry's most important show. THE most important show...the perception was that they were in trouble. And it opened the door for smaller players who effectively chipped away at their market share. Supports the point about the dangers of going away...
But for many marketers, budget cuts are essential in order to preserve jobs and other key assets.
So where does that leave us?
We'd suggest as a first step: Don't just reduce: Rethink
Don't just apply budget cuts across the board to activities you're already executing. Or simply drop tactics based on percentage of budget.
Step back and look at the program as a whole.
What is the best use of this entire pool of funds? At this time, is it most wise for me to pull all print dollars and beef up my PR campaign? After all, if you're cutting from 12 ads to 6 that's one thing. But if you're cutting from 12 ads to 3 -- and not beefing up other areas of your integrated plan -- what do you think you're REALLY gaining from those 3 ads? Could the money be spent with greater impact and return on objective elsewhere?
When customers are dodgy, it's hard to internalize the fact that now is a great time to pick up market share and position your brand for growth when the market rebounds. But that is exactly the case.
So don't just cut. Rethink. This is your chance to make the most of what you have. And still achieve your goals. Or at least position your brand for success.
More next week...Thanks for reading.
Yesterday, we established that ceasing marketing altogether is a very dangerous proposition for any company, regardless of size. I remember in the late 90s when a prominent construction equipment manufacturer decided not to exhibit at the industry's most important show. THE most important show...the perception was that they were in trouble. And it opened the door for smaller players who effectively chipped away at their market share. Supports the point about the dangers of going away...
But for many marketers, budget cuts are essential in order to preserve jobs and other key assets.
So where does that leave us?
We'd suggest as a first step: Don't just reduce: Rethink
Don't just apply budget cuts across the board to activities you're already executing. Or simply drop tactics based on percentage of budget.
Step back and look at the program as a whole.
What is the best use of this entire pool of funds? At this time, is it most wise for me to pull all print dollars and beef up my PR campaign? After all, if you're cutting from 12 ads to 6 that's one thing. But if you're cutting from 12 ads to 3 -- and not beefing up other areas of your integrated plan -- what do you think you're REALLY gaining from those 3 ads? Could the money be spent with greater impact and return on objective elsewhere?
When customers are dodgy, it's hard to internalize the fact that now is a great time to pick up market share and position your brand for growth when the market rebounds. But that is exactly the case.
So don't just cut. Rethink. This is your chance to make the most of what you have. And still achieve your goals. Or at least position your brand for success.
More next week...Thanks for reading.
Wednesday, April 22, 2009
Recession Marketing Part 1
I read a quick blurb in The World Trade Center's Intelligence Brief (this is a trade organization for companies who export). (visit http://www.hwtc.org/)
The Brief discusses the pros and cons of pulling back on marketing during a recession. Here's a link in case you want to check it out. It's a quick read, but insightful. http://www.strategic-briefs.com/BIB/WTCCPACurrent.pdf
Unlike many articles that discuss recession marketing, this one makes a clear connection between ceasing marketing activities and customer perception.
From a financial standpoint, cutting marketing and advertising when times are tough makes perfect sense. But from a long-term growth perspective....not so much.
As the Brief points out, when you cease marketing, you leave your most important assets vulnerable to competitors, those being your customer base and your brand. It's only logical for customers to think you might be in trouble if you don't maintain some form of visibility. You can guarantee that one company in your category will use the current economy to increase market share. The relationship between recessions and marketing is a consistent one: someone pulls back, someone moves in.
Which position do you want to take, with an eye toward the future?
As an agency, of course we understand the need to maintain jobs and manage budgets.
We'd simply argue in favor of SMART spending vs. no spending. What people might not realize is that cutting a budget without rethinking your strategy might be just as bad as stopping altogether. After all, when resources are limited you don't want to waste dollars by spending them where they are ineffective.
Today, I just wanted to introduce the article and an objective, non-agency perspective on the importance of marketing during a downturn. Next, we'll provide valuable, real-world ideas on how to be the marketer picking up market share and comes out a winner when the market rebounds. More later...
The Brief discusses the pros and cons of pulling back on marketing during a recession. Here's a link in case you want to check it out. It's a quick read, but insightful. http://www.strategic-briefs.com/BIB/WTCCPACurrent.pdf
Unlike many articles that discuss recession marketing, this one makes a clear connection between ceasing marketing activities and customer perception.
From a financial standpoint, cutting marketing and advertising when times are tough makes perfect sense. But from a long-term growth perspective....not so much.
As the Brief points out, when you cease marketing, you leave your most important assets vulnerable to competitors, those being your customer base and your brand. It's only logical for customers to think you might be in trouble if you don't maintain some form of visibility. You can guarantee that one company in your category will use the current economy to increase market share. The relationship between recessions and marketing is a consistent one: someone pulls back, someone moves in.
Which position do you want to take, with an eye toward the future?
As an agency, of course we understand the need to maintain jobs and manage budgets.
We'd simply argue in favor of SMART spending vs. no spending. What people might not realize is that cutting a budget without rethinking your strategy might be just as bad as stopping altogether. After all, when resources are limited you don't want to waste dollars by spending them where they are ineffective.
Today, I just wanted to introduce the article and an objective, non-agency perspective on the importance of marketing during a downturn. Next, we'll provide valuable, real-world ideas on how to be the marketer picking up market share and comes out a winner when the market rebounds. More later...
Tuesday, April 7, 2009
Customer Retention vs. Customer Acquisition -- Which Makes More Sense in Today's Economy?
In a recent interview with B2B Magazine, Jeffrey Mills, director of marketing at Sage North America’s business management division, shared the company's top marketing priority: "engage current customers and ensure they're active" with the company...
Customer acquisition? Important. But second.
We agree wholeheartedly with Mr. Mills' approach and think focusing on customer retention should always be a top priority for marketing department (and we're sure it is for Mr. Mills).
But marketing to existing customers often becomes an afterthought for busy marketers, especially when the corporate objective is to expand market share and cultivate new customer relationships.
Customer satisfaction, as we've all read, is worthless these days. Customer loyalty is the holy grail. A loyal customer is less susceptible to competitive messages and not only returns for your products and services on their own volition, but advocates on your behalf when appropriate.
Loyal customers help companies weather uncertain economic times.
Creating customer loyalty requires patience and a committed focus on achieving that specific goal. Marketing should identify key customer touchpoints, and identify ways in which to significantly enhance the customer's interaction with the company.
Identify additional services that benefit your customers, provide a revenue boost for your company and deepen the customer's relationship with your product.
Customer engagement strategies can go a long way to protecting a marketer in an economy as rocky as this one. Companies that do it right come out winners over the long-term...
Customer acquisition? Important. But second.
We agree wholeheartedly with Mr. Mills' approach and think focusing on customer retention should always be a top priority for marketing department (and we're sure it is for Mr. Mills).
But marketing to existing customers often becomes an afterthought for busy marketers, especially when the corporate objective is to expand market share and cultivate new customer relationships.
Customer satisfaction, as we've all read, is worthless these days. Customer loyalty is the holy grail. A loyal customer is less susceptible to competitive messages and not only returns for your products and services on their own volition, but advocates on your behalf when appropriate.
Loyal customers help companies weather uncertain economic times.
Creating customer loyalty requires patience and a committed focus on achieving that specific goal. Marketing should identify key customer touchpoints, and identify ways in which to significantly enhance the customer's interaction with the company.
Identify additional services that benefit your customers, provide a revenue boost for your company and deepen the customer's relationship with your product.
Customer engagement strategies can go a long way to protecting a marketer in an economy as rocky as this one. Companies that do it right come out winners over the long-term...
Saturday, April 4, 2009
B2B Search and Google
I attended a BMA event in NYC on Thursday. Google was kind enough to host and two of their B2B search gurus were featured speakers.
No surprise, it was a top-notch event. Google knows its brand and is skilled at "living it." You can feel the brand, even in intangible ways.
The big surprise of the evening (at least to me) was the ways in which search differs for B2B vs. B2C.
B2B searchers, Google says (if Google could speak) are much more picky about their results. As marketers, we've been trained and are in turn training our clients to focus on first-page results. Hone your message, craft your advertising so you can appear on page one.
Still important in the B2B world...but data indicates that many B2B searchers -- especially those searching industrial or highly technical solutions -- will go much deeper to find the RIGHT solution. 5 even 10 pages deep.
B2B marketers, Google "says" will use longer search phrases. Where a B2C searcher will use a 2 maybe 3 word search string, B2B marketers are more complex -- stringing together longer search phrases (up to 5 or 6).
Excellent insight made even more powerful by the analytic and planning tools offered by Google, Twitter and others.
The lessons of the day? (at least for me...) B2B online search is more than a growing media deserving of precious marketing dollars. It's one that requires specialized understanding by agencies to fully capture the opportunities on behalf of their clients.
No surprise, it was a top-notch event. Google knows its brand and is skilled at "living it." You can feel the brand, even in intangible ways.
The big surprise of the evening (at least to me) was the ways in which search differs for B2B vs. B2C.
B2B searchers, Google says (if Google could speak) are much more picky about their results. As marketers, we've been trained and are in turn training our clients to focus on first-page results. Hone your message, craft your advertising so you can appear on page one.
Still important in the B2B world...but data indicates that many B2B searchers -- especially those searching industrial or highly technical solutions -- will go much deeper to find the RIGHT solution. 5 even 10 pages deep.
B2B marketers, Google "says" will use longer search phrases. Where a B2C searcher will use a 2 maybe 3 word search string, B2B marketers are more complex -- stringing together longer search phrases (up to 5 or 6).
Excellent insight made even more powerful by the analytic and planning tools offered by Google, Twitter and others.
The lessons of the day? (at least for me...) B2B online search is more than a growing media deserving of precious marketing dollars. It's one that requires specialized understanding by agencies to fully capture the opportunities on behalf of their clients.
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