Red On Marketing Blog

B2B Marketing Agencies - Who Needs 'Em (DEALBREAKER SERIES PART 2)

After you resolve to do more effective marketing, there are a few decisions ahead. Among them:

1. Do we need professional help? Or could we do it ourselves?

There are lots of good reasons to self-serve:

• Saves cash
• Keeps all marketing communications efforts centralized
• Builds skills internally
• Leverage free resources available

DIY resources

There are great resources available for DIYs. I recommend just about any MarketingSherpa benchmark report or how-to guide you can get your hands on. Even if it's an old outdated version it could  be an eye opener. Vendors like Google Adwords include campaign set-up and support, so why not take their free advice?

Or, if you already do mailers and telemarketing, you could always increase the volume of each. All that requires is bigger lists and a bit more cash outlay. It could be low-hassle, in the sense that the path to increased exposure is nice and short. No fussing with messaging. No fiddling with design. Just feed more bills in and get more leads out.

Machine out of order?

If that will work, do it. And instead of messing with marketing, do something more fulfilling.

It’s a question only you can answer. You have the 30,000-foot perspective on how you’re doing relative to your business goals.

But as you weigh your decision, let me offer a couple points:

• First, unfortunately, bad marketing is worse than no marketing at all. The reason is that it takes more time and money to repair the damage from a bad impression, than to make a good first impression.

• Second, if you're a b2b company, it's probably not enough to just do more of what you’re used to doing already – if what you’re doing is conventional marketing like advertising, call outs, mailers and Yellow Page ads. I could go on about why; in a nutshell, it's because savvy business decision prevent and resent interruptions. 

Inbound marketing involves helping your target market find you easily when they are searching for help. It includes such tools as search-engine optimization, which is a way of making sure your website contains the same keywords that people are most likely to use when they are looking for your kind of product or service. But it has to be done in a way that impresses both search engines and high-potential prospects. And SEO is only one of many tools used in inbound marketing.

As Laura Ramos, formerly of Forrester Research, wrote in How To Avoid Becoming Obsolete,

“Focusing simply on new campaigns, clever advertising, and delving into social media will only paper over problems. Turning up the heat on conventional marketing activities won't spur the profound changes required.”

Decision point

If you don’t need professional marketing, stop here.

And if you need help shifting to a new, more productive, inbound marketing approach, it’s still not time to hire. It's time for your next decision. Look for our next Dealbreakers article due out next week!

B2B Lead Generation Results, By Source

Visits and conversions by source for www.b2bcommunications.com Sept 7 to Oct 6 2009

By Rebekah E. Donaldson

Here is a screenshot showing the sources of our website traffic that converted to leads over the last month. Looking at the chart, I answer:

• What does this chart tell you about lead sources?
• How much did you invest to get the site working this way?
• We need to generate leads - what's the best way?

Visits and conversions by source (1 month)

This chart shows how different sources have driven visits, leads, and customers to www.b2bcommunications.com. The key on the right shows the sources tracked.

What does this chart tell you about lead sources?

To see our lead sources, we open our Hubspot account (more on this below) and go to the "Reports" tab and pick "Sources". There we have a chart showing visit to lead ratios by source:

Totals for Sep 7-Oct 7, 2009
Sources	Visits	Visit to Lead	Leads
Organic Search	590	0.68%	4
Referrals	265	2.60%	7
Paid Search	0	0%	0
Direct Traffic	547	1.50%	8
Email Marketing	0	0%	0
Social Media	86	8.10%	7
Other Campaigns	0	0%	0
Totals	1,488	1.75%	26

According to the chart, visitors from social media sources convert at the highest rate. A visit-to-lead conversion rate of 8.10% means that in the last month, eight out of ten visitors who came to the site via LinkedIn or other networking sites, responded. Visitors referred to our site from an article, blog, or website are the next most likely to respond.

How much did you invest to get these leads rolling in?

Hundreds of hours and tens of thousands of dollars over several years. The site re-launched in 2007 and it's been an ongoing process to make it so visitors find what they need and take the next step. And there's still so much work to do! Meantime, we've been at blogging, search engine marketing, and social media marketing since 2007 - and public relations since 2001. We've tried to always close the loop (see below), so we know which B2B lead generation activities work and which to avoid.

What is Hubspot?

Hubspot provides advice and software that helps businesses get found on the Internet by the right prospects and convert more of them into leads and customers. We use it to build landing pages, attract traffic, nurture contacts, track leads, and connect records about leads and sales with records about marketing efforts.

We need to generate leads - what's the best way?

Here are just two of many ways to get started. Do both or pick the one that work for you:

Get a 60 Minute Internet Marketing Planning Session.

Try Hubspot - Use all the powerful features of Hubspot for B2B lead generation. Free for 30 days.

NOTE: We are pitched weekly by companies looking for affiliates to rep their stuff. So far, we've partnered only with MarketingSherpa and Hubspot. In each case, we bought their stuff and recommended it to others before we were ever a partner. Now that we are a partner, we get a small % of sales we help generate. Just so you know.

Rebekah E. Donaldson ("Red") has led Business Communications Group since 2001. More >>

 

Picking a Marketing Consultant: Get What You Pay For

By Rebekah E. Donaldson

We’ve all heard the phrase, “You get what you pay for.” The truth is, sometimes you get a lot less than you pay for.

This is the first in a seven-part series of articles to help you get what you pay for when you choose a marketing agency. I’ll start today with a decision tree that shows the five key decision points. As the series progresses, I’ll show you a framework that CEOs can use to sort out the answers.  In later articles I touch on the various types of marketers in the industry. You’ll also find 11 questions to ask an agency – with an example of what counts as a good answer (“pass”), and what counts as baloney (“fail”), for each. And in my seventh article in this series I’ll give five warnings, each of which begins, “Why to watch out if you hear…“

Outsourcing marketing – opportunities and threats

On the one hand, you need effective marketing because of competition and economic conditions; on the other hand, you risk:

• Wasting money
• Wasting time
• Making a bad impression on customers and internal stakeholders if marketing poorly represents the company

The real risk of taking the wrong path

A lot of marketing-related companies are vying for your attention — and your money. Cash vacuums like Google Adwords. Thousands of marketers with consulting practices. Marketing automation software companies, web hosts, email marketing tools, graphic designers, online directories, multimedia companies, social media sites and dozens of other types of vendors.

Fig 1 - Picking a marketing consultant decision tree

Five key decision points – overview

After you resolve to do more effective marketing, you need to decide:

1. Do we need professional marketing help?

This decision is easy to overlook. After all, vendors like Google Adwords include campaign set-up and support, so why not take their free advice? Or, why not redouble your efforts with mailers and telemarketing, which produce a trickle of leads? That just requires bigger lists and more investment in the same types of marketing as before.

In this series I outline why not. And if you do need professional marketing help, you need to decide:

2. Do we need to outsource marketing or should we keep this in-house?

In 2009-2010, talent of all kinds can be had at bargain prices. But maybe you feel ambitious. Perhaps you’re up to managing marketing directly?

If you are interested in outsourcing, you may wonder:

3. Do we need a formal RFP process to look for a consultant?

There are some benefits to doing a traditional request for proposals. But that process can take months to complete.

If you can arrive at a short list more quickly and easily on your own using search engines, social media and referrals, what sort of professional marketers should make the list?

4. What kind of agency do we need — specialists or an all-in-one firm?

Specialists in marketing subdisciplines are critical to overall marketing success — but it’s risky to grasp at individual tactics (see also our Six Marketing Gotchas CEOs Can Avoid ebook). If you decide you need a firm to be accountable for helping you move the needle for your firm (not just hit marketing-centric numbers), you’ll need to decide:

5. Who should we pick — what do we ask to ensure we get the best agency?

Some folks grapple with what I think of as “early” decisions, like whether to outsource. Others skip the early decisions and go straight to weighing one resource over another.

Now that you see the path we’ll be following, we’ll start looking at the individual elements in more detail. If you haven’t already, please subscribe by email.

B2B marketing ROI of a blog – with traffic and leads chart

By Rebekah E. Donaldson

I talked with Sacramento Business Journal senior reporter Kathy Robertson this week about the return on investment from the Red On Marketing Blog. Her questions got me thinking about why I do it, and this post is the result. 

To ground things in real world and tangible results, you’ll see a screenshot showing where our website traffic and leads came from this week.

I’ve written the Red On Marketing Blog since Fall 2007. Yes, one reason I started it was to market our company. Another is that we help our clients with staying at the top of certain search results in Google, and social media (which includes blogging) is part of how we do it. We need to walk the walk.

We track everything with lead management software. Social media has tangibly helped us. Leads are up 400% this quarter over the same period last year. We have new leads every day – many from our website. So social media might sound like a fad or B.S. to some CEOs. But it’s moved the needle for our company.

Referrers — week of June 15 2009

Of our current clients, most found us online. For example, one Sacramento CEO found us when he searched “Sacramento search engine optimization”; another when he searched in LinkedIn for “B2B marketing Sacramento”; and so on.

Blogging is part of Social Media

The Red On Marketing Blog is intertwined with other efforts. It doesn’t stand alone. I’m active on LinkedIn – mostly I try to answer questions – and on Twitter. Sometimes, helping in those forums means pointing to B2B marketing articles, and other B2B Communications resources.

One realization I’ve had is that a marketer’s mindset can backfire with a blog or other social media participation. When I started blogging, I thought about it in terms of

1) Make a calendar of article topics.

2) Chip away at the calendar.

But that can lead to really boring blog posts. And everyone hates boring.

You Said WHAT?

Before starting the blog I’d been reading other people’s blogs for a couple of years. People like Josh Bernoff and David Meerman Scott publish edgy stuff that gets people talking (and pisses off some readers – a cost of being interesting).

The threads of comments after they post are crazy – dozens and dozens of smart people write in to respond.

I really wanted to do that.

Stirring Things Up

Fortunately, I have strong opinions — especially when it comes to cases of marketers getting things terribly wrong.

When I gave stronger opinions, you (readers) did too. Example: “From the Shocking Marketing No Nos Department.” When I published that piece, our blog lit up with comments and backlinks. It was referenced in many more places online. The lesson to me was: Speak up! Call it like you see it!

So after that I co-wrote an ebook. It took 9 months and was like having a third baby. Kind colleagues promoted it with social media (thank you Dianna Huff, David Meerman Scott, Peter Kim, Peter Caputa, and other colleagues).

Behind the Scenes Battles

One behind-the-scenes struggle I have is over topics appropriate for the blog. On the one hand, there is value in publishing about basic marketing techniques and issues. In fact, my colleagues at B2B Communications keeps reminding me that some of you may want intro material . But I fear you’re bored with the same old stuff like ”segment your audience!” “get the word out!” It seems like recycled, regurgitated truisms. (Who’s right? Please comment.)

Girl’s Dream Comes True

One thing that surprised me was that our blog helped us become a MarketingSherpa Affiliate. (MarketingSherpa is like Consumer Reports for marketers – loads of objective data that helps you make good decisions.) I think we’re the only one in Sacramento, California and surrounding regions. It gives us a lot of credibility – most marketers really admire Sherpa – as well as access to their material and the ability to pass along discounts.

One of their big decision criteria was around the quality of guidance we provide through our blog. They looked and said we were doing a great job. So the blog helped us stand out among much bigger agencies. It’s also led to interviews, invitations to speak, and other exposure with organizations like Forrester Research and Hubspot. Each of those organizations reaches tens of thousands of subscribers with their updates. The blog is also one of our top sources of search engine traffic and exposure for our services.

Most importantly, it’s sparked interactions with hundreds of small business owners and business to business marketers.

Keeping it Real

Still, even if we didn’t get the business benefits I’ve listed, knowing what I know now, I would still write a blog. Blogging helps keep things real. It makes me stay abreast of new data and ideas, instead of throwing up my hands because there’s too much. It makes me a better thinker, a better listener, a better writer, and a better salesperson.

Your turn

My hope is that, if you’re one of those business folks who has been blogging, but doesn’t know if it’s worth it, or you’ve held off because you don’t think anyone wants to read a blog written by you, maybe hearing about my experience will help you keep at it or get started.

Do you blog? Why or why not?

Six marketing gotchas CEOs can avoid

By Rebekah E. Donaldson

In a normal year, alot of missed opportunities can hurt sales. This year, they can kill a company. So it’s time to get deadly serious about avoiding marketing mistakes.

Are there patterns in the marketing mistakes small to midsize companies make? I think so. In particular, I’ve noticed at least six ”gotchas” when it comes to CEO-led decisions about marketing. In a new ebook called Six Marketing Mistakes that CEOs Can Avoid and a series of blog posts here, I’ll describe each one’s telltale symptom… and outline a better way.

Combining CEO + CMO duties

If you are going to be Chief Marketing Officer as well as CEO, you need to take the shortest, least expensive route to:

• Get found by the right people
• Start meaningful conversations
• Alleviate worries about buying

If you’re already doing all three things well, you win a prize: a pipeline full of great leads!

Sidestepping six marketing “gotchas”

If you are falling short in any of those areas, very likely you are making some marketing mistakes. In a normal year, those mistakes merely hurt sales. But this year, when it seems like every other company is either failing or already belly up, marketing mistakes can be fatal. So it’s time to get deadly serious about avoiding them.

1. Gotcha: Tactic Tunnel Vision
2. Gotcha: Hiring Specialists Too Soon
3. Gotcha: Awareness – The Red Herring
4. Gotcha: Push Marketing
5. Gotcha: Coordinating Specialists
6. Gotcha: Me-Too Marketing Plan

In a new ebook I try to describe each one’s telltale symptom and why it’s a problem — and outline an alternative route.

It’s called Six Marketing Gotchas that CEOs Can Avoid — and I hope to hear from readers in this forum about what I got right and what I got wrong. (The publish date is 6/15/09 but you blog readers are getting access early.)

Fire away!

B2C versus B2B – do B2B buyers feel more risk?

As featured in web marketing and e-commerce portal WebMarketCentral.com

Whether you’re marketing to consumers or business decision makers, you’re still marketing to a human being – right?

Yes — but decision makers may feel more risk when it comes to the average buying decision.

 

Perceived risk is generally higher for B2B buyers

We wrote an e-book that covers how B2B marketing differs from consumer marketing, called What Marketing Directors Need in a B2B Marketing Consultant. But here is a short version.

In business to business (B2B) marketing, a purchase of professional services may impact the company’s customer service, productivity, operations, legal issues, reputation, sales, and/or the bottom line. The perceived risk of a wrong decision is high. In B2C decision making the level of perceived risk is typically relatively low, because most consumer purchases can be returned or exchanged.

Purchase decision anatomy

Enquiro surveyed 1,000 B2B buyers to learn what the top influencers are in the purchase decision. They found that “respondents across all phases indicated that the website of the vendor” was the top influence on buying decisions. The upshot: if you’re a B2B company, get it right when it comes to your online presence.

Prospects are looking to educate themselves, do their own comparisons, and create their own short lists. Charts comparing solutions, suggested decision criteria, ROI calculator tools, case studies, testimonials, certifications, awards, affiliations, and executive profiles all help diffuse fear of making a wrong decision.

Agree? Disagree?

B2B lead generation: Bye bye, list biz?

When a local list broker asked me for career advice last month, I realized that a human element is often missing from discussions about marketing trends and forecasting.

I realized too that inbound marketers can learn from the performance of companies like Harte Hanks - a company that essentially wholesales data to channel partners like list brokers (in addition to selling directly to its client base).

"Should I retrain?"

Last month a list broker wrote to me asking,

"Are email and postal direct marketing to prospect lists truly going to become less effective in the next decade? If so, would you recommend a transition to social marketing, mobile marketing...? Maybe I need to institute some changes right now..."

He'd been reading my stuff about the future of B2B marketing, and where the numbers point. And how it's clear that one of the most effective communication tools over the next decade will be each company's own online presence.

That means hard working Web sites, of course, that ensure prospects find you.

And, on the flip side, it means less print advertising and purchased lists.

That's an ominous prospect for list brokers - professionals who sell lists for purposes of direct mail, email, and telemarketing.

The macro marketing environment

Let's get clear about terms here. Very roughly speaking, list brokers retail wholesale data collected by companies like . No brokers I know collect data themselves - they do, though, analyze and interpret data, create direct marketing campaigns, and sometimes manage campaigns.

Here is a chart showing the performance of Harte Hanks stock from May 2005 to May 2009:

Credit: www.tradingmarkets.com

The Harte Hanks CEO says in a May 5th 2009 press release that,

“There continues to be economic uncertainty that makes it difficult to predict when conditions will improve. While we face challenges, we have a terrific client list and our businesses deliver products, services and marketing solutions that are even more necessary in this environment.”

If I go along with him, I have to infer that his clients don’t get the HH value proposition. If they got it, they’d buy. But who could be better at conveying value through marketing communications than a Harte Hanks? There must be something else going on.

Truth be told, Harte Hanks has, itself, moved into the website building business (see paragraphs under “Selected Highlights” near the bottom of this release).

Bye bye, list biz?

So yes, colleagues in the list biz, I’d recommend changing your focus. And I don’t take the issue lightly. It’s your career and livelihood we’re discussing.

A September 2008 post here called Is B2B marketing going obsolete? said 

“The marketplace has experienced a significant shift in power. No longer are just vendors hunting prospects. Prospects, now, are experienced marksmen too. So… what now? What does this mean for B2B marketers? Should we change professions? Retool our company’s marketing? Wait and see?”

More recently, ”The State Of Retailing Online 2009: Marketing Report,” the 12th annual study conducted for Shop.org by Forrester Research Inc., showed that 88 percent of retailers surveyed said email is a high priority for the coming year, largely to retain customers.

Notice those last three words. These are emails to people who already have a relationshipwith the retailers. Not to prospects from purchased lists.

In fact, the study said 71 percent of retailers plan to send segmented emails to customers based on stated preferences or purchase data.

Challenges of being in the school of push communications

In What won’t fly in that 2009 marketing plan I suggested that B2B marketers consider skipping traditional marketing techniques in their 2009 marketing plans.

The reason: Purchased lists, whether they involve emailing, snail-mailing or telemarketing, belong to the school of ‘push’ communications.

Core skills of a successful list broker

So where does that leave list brokers? Many have been very, very successful for a long, long time with lists.

I’d venture that the best list brokers are particularly savvy about:

• Client relationship management
• Audience segmentation, including
  • Behavioral targeting
  • Psychographics
• A/B testing 
• Quantifying ROI

What are some other strengths of a well-trained list broker? How can they apply their skills to newer marketing methods?

Resources — please add

I’ll start us off with a suggested resource — an article in the Hubspot blog. Please add your ideas.

1. Ten Tips for Marketing Job-Seekers in the Class of 2009

Using social media: copying others doesn’t work

It’s no secret that social media have become part of the mainstream culture: blogs, YouTube, online forums, networking sites and so on. We’ve been writing about the topic for a while, such as the impact of social media on B2B marketing and tipping points for business participation.

The secret is how to master these new tools for B2B marketing. There are few success stories out there, and copying others doesn’t work, according to Forrester Research Inc.

 

Finding your prospects’ venues

A sensible starting point: learn who is showing up at these new venues and why. To get the answers for one slice of the business world, Forrester Research surveyed more than 1,200 business technology buyers and packaged the findings in a report titled “The Social Technographics Of Business Buyers.”

A full report is accessible to Forrester clients, or access a free replay of Laura Ramos’ talk on the subject.

One of the first things you’ll notice in their findings is that, regardless of how involved they are with social media, this audience is still overwhelmingly male. The “creatives” among them, the ones who publish their own blogs, video and music, are 83 percent men.

 

Making sure social media efforts are integrated

If you are trying to reach these folks through social media, make sure the effort is integrated with the rest of your marketing. Forrester discovered that while most of them view social media very favorably, they still fall back on more traditional marketing materials when deciding what to buy.

For example, word-of-mouth has a big impact, but they tend to pay attention to their colleagues at work much more than their counterparts online.

 

Social participation doesn’t automatically give you influence

In other words, business buying is still complex, Forrester says, and social participation doesn’t automatically give you influence.

Does that mean we should give up on it for marketing purposes? Not a bit. In fact, it means just the opposite.

 

B2B buyers believe social media will be a bigger part of decision making

The survey results show that in the coming year, buyers believe that forums, virtual trade shows, and online reviews will be a bigger part of their decision-making. These are the social media options that most closely resemble the user conferences, exhibitions, and buyer guides that these buyers have been relying on for years, without requiring them to physically be there.

Question: B2B buyers believe social media will be a bigger part of their decision making. Do you?

 

Learning more

• A full report is accessible to Forrester clients
• Access a free replay of Laura Ramos’ talk on the subject

B2B marketing services pricing – an elephant in the room

Today we rolled out fixed-price marketing services packages — and have been asked by a number of colleagues why in the world we’d show our hand this way. Here’s my two cents.

Value is a ratio – it’s not just about benefits

Doesn’t providing entry-level packages with clear pricing attract the wrong sort of prospects?

No. The best prospects know that value is a ratio… a ratio of benefits received to investment made.

To make good decisions about value, they need to know about both.

Paradox of success

And, paradoxically, the better we’ve become at earning status symbols like valuable inbound links, speaking engagements, top Google rank, and the like, the more anxious our best prospects become about whether they can afford our expertise.

Anxious is bad. So our new packages are designed to provide an anxiety-free context in which to think about going to first base with us.

No fear

For marketing consultants, price is the elephant in the room. Marketing Directors and small business CEOs need to know fees in order to make good decisions.

So we’re calling it out. We provide killer value, so we try to have a “no fear” approach to information sharing.

This is the first published guide I know of re Sacramento marketing services. Am I missing something else out there? Please weigh in.

Discuss The New Rules of Outsourcing B2B Marketing 2009 e-book and checklist

Today Cris Rominger and I published a free B2B marketing e-book (550KB PDF) called The New Rules of Outsourcing B2B Marketing: What Marketing Directors need in a B2B marketing consultant today.

In it we discuss how the shift to inbound marketing affects Marketing Directors; the 5 essential traits your B2B marketer needs and why each is important; 10 questions to ask a prospective B2B marketing consultant; how to cut ROI guesswork; what B2B buyers are looking for; and why B2B marketing differs from B2C.

We’re hoping to hear feedback. Please weigh in. (Tip: to comment, scroll down to the bottom of an article.)

We started this e-book in the summer of 2008, and finished it… well… every time I open it I start tinkering. My file name for it is currently ”Outsourcing ebook FINAL v7″. But give birth we must.

My hope is that this blog post could work as a discussion area for the e-book. To try to get things rolling, here are some questions for you readers:

 

Premise: Changed marketing landscape

1. We argue that the marketing landscape has changed. Did we get it right? Leave anything out?

 

Premise: Specialization not enough

2. We argue that because of a changed marketing landscape, it takes special skills to see and seize opportunities. Did we get that right? Leave anything out?

To engage decision makers today, our view is that B2B companies need to:

• Prove their value through a strong business case
• Build sites and other communications vehicles in a way that fosters trust
• Pull in prospects

… and that doing it requires specialists in both new and traditional marketing disciplines. Still, it’s your B2B marketing partner’s job to see all the options and how they can work together.

 

Premise: higher bar for B2B marketing consultants

The e-book is really about what it takes to help Marketing Directors reach and engage today’s savvy B2B buyers without breaking the bank. We’re trying to articulate a standard to which Marketing Directors should hold us and other B2B marketing agencies.

Are there parts of the e-book you particularly agree or disagree with? We’re hoping to hear feedback. Please weigh in.