2013 Marketing Forecast Report Summary by Software Advice

Guest Post by Software Advice, Ashley Verrill

Traditional forms of marketing, such as direct mail, print and television advertising, continue to fall out of favor with business-to-business marketers, according to our recently-released Software Advice report.

We received responses from 155 primarily executive-level marketers in a poll we called the B2B Demand Generation Benchmark Survey. They were asked about spending plans for the New Year; as well as which channels, content and offers they find most powerful for producing quality and quantity of leads.

The sample included primarily smaller businesses, with marketing budgets of $250,000 or less, although there was some representation in the tiers up to $100 million in marketing spend. The sample was also primarily from technology companies with less than 100 people.

01-channel-popularityOne of the first things we discovered were the most popularly-used channels. Email marketing to a house list came in as the most-used channel, followed by search engine optimization, social media (not ads) and trade shows.

These results reflect an increased focus on what’s popularly called “inbound marketing,” or driving traffic to your site from customers already searching for your product. Many times these channels are also lower cost. You’ll notice a correlation between the cost per lead of each channel and their popularity in the chart below. Trade shows was one exception to this trend.

04-cost-per-channelOne thing marketers need to be careful about, however, is the quality of leads from these channels. Even if the cost is low, it’s important that your return on investment translates over into the kinds of leads your getting from each channel. Lead scoring is one good way to measure this quality. This usually includes gauging factors such as the decision-making power of the contact, their purchase timeline, budget, industry, or what kinds of content they’ve interacted with or downloaded.

“If you just look at a program on the surface from a solely cost perspective you might never realize it’s just not bringing back the right people. You could end up with a whole database full of contacts of people that will probably never buy from you,” said Elle Woulfe, marketing programs director for Eloqua.

In this regard, the sample agreed that in-house email marketing and SEO provide the most high-quality leads because they are prospects that have proactively sought out your company or product. They’ve clicked on a link, and want to consume something that you are offering. While social media is popular, it has yet to produce such quality leads, at least as consistently as other channels.

Also interesting, 3rd-party lead originators and search engine advertising received the largest percentage of votes for being high quantity channels, yet they didn’t score high on the popularity scale. This is likely due to cost, but again these are often really high quality leads. Marketers should look at the total cost-to-spend ratio.

Despite marketers admitting social media doesn’t produce quality or quantities of leads on a consistent basis, the channel received among the highest percentage of votes for elevated spending in 2013. This more likely to do with the buzz than anything else.

10-future-spend-channelEven if you are a director of marketing and see how all of these programs perform, likely a CMO ahead of you is saying, “You need invest in these programs because that’s what everyone is doing.”

For questions about content, marketers didn’t mirror the trend as far as prioritizing high quality or quantity of leads. Videos, for example, was listed as the second most popular, yet didn’t score well on our scale for quality or quantity.

This is likely due large part to the marketers need to produce content in a way that customers want to consume it. Videos are popular because people don’t have as much time to read.

Content success has a lot to do with where you are targeting customers in the sales funnel. A video testimonial from a customer, for example, could convert really well for high-scoring leads that are near the end of the sales funnel.

Alternatively, a lot of content is used pre-funnel and not meant to be highly-converting. It’s more about getting the customer educated and developing preference over time. For this reason, a one-size fits all approach to content can backfire. You need to measure success against varying goals.

Guest Post by Ashley Verrill
Ashley Verrill is a market analyst with Software Advice. She has spent the last six years reporting and writing business news and strategy features. Her work has appeared in myriad publications including Inc., Upstart Business Journal, the Austin Business Journal and the North Bay Business Journal. Before joining Software Advice in 2012, she worked in sales management and advertising. She is a University of Texas graduate with a bachelor’s degree in journalism.

What is Your Marketing Meme?

Will Your Meme Go Viral?

A meme (pronounced meem) is a packet of social information.  Marketing memes are word associations, beyond a tag line or slogan, that take complex concepts or ideas and make them simple and easy to communicate.

A meme is defined in Wikipedia as “a unit for carrying cultural ideas, symbols or practices, which can be transmitted from one mind to another through writing, speech, gestures, rituals or other imitable phenomena.”

Effective memes are potent messaging serums, dripped out over time that enter into our brains and stick. Think of your marketing meme as your viral message.  Who you represent, what you do and what you offer, tightly packaged into one memorable soundbite.

Memes are easy to replicate.  Good memes always communicate value and benefit.  It is the message you want propagated all over the world about you and your business.

I first learned about crafting memes from a Fortune 500 marketing expert who spent his time coaching several solopreneurs on how to market their own businesses.  To some, it may seem odd that an experienced marketing executive would spend weeks learning how to market themselves.  Admittedly, I was resistant at first. After all, I have been responsible for marketing multiple million dollar business for years.

Attitude and all, I threw myself into doing something I was avoiding — marketing me! It is hard to market yourself, let alone dedicate the time required to build your own marketing communications plan.  Truthfully, I needed the discipline and focus to develop my own meme. In the end, besides a business card, it was the best marketing investment I made in starting my own business.

An effective marketing meme is a single powerful statement that communicates the benefits of your products and services.  Here are some simple steps to help you craft an effective marketing meme:

1.  In one sentence, write down what you do for your customers.

2.  Next sentence describe the value you provide to your customers.

3.  Outline the problems you solve in the last sentence.

4.  Now start cutting! Combine the three sentences into one very simple, benefit-oriented sentence.  Answer who, what and why it matters in a single sentence.

5.  Test your meme with the following questions:  Can you repeat that sentence over and over again?  It is easy to remember?  Will your meme invite people to want to know more?

Memes are clear value propositions that roll off the tip of your tongue at every introduction.  An effective meme is not a slogan or headline. It is not an elevator pitch.  You rarely get 30 to 60 seconds to cite a rehearsed sales pitch.  It needs to be tight, concise and memorable.

Use your Meme Everywhere

Memes create lasting impressions. They are the words people will carry with them and tell others about you and your business.  Marketers often suggest that it takes seven times before a message really sticks.  It’s called the Rule of Seven. Will your meme be repeated by every person you tell seven times or more?  If so, then you have truly created an effective, viral marketing meme!

Invest time in creating your meme and start sharing it with world.  Repeat it often, in presentations, in meetings, on the web. Make sure your meme is a simple message that leaves us wanting more.

Special Note:  This post is dedicated to my friend and marketing mentor John Coyne.  He patiently worked with me to create my Artful Thinkers meme. His influence and teachings are still making an impact. He will always have a lasting impression. RIP my friend.

The Gift of Content

King of Content

For the past two decades, I have been marketing and selling in industries that continually define their value proposition based on their most precious asset. We all proclaim, “Content is King!” In fact, you might even be able to claim some superiority if you have more content in one form or another. Supremacy is measured by words, pages, titles, key words, programs – all centered by amassed volume!

The fact remains, size does matter when you are establishing a monarchy. Content leads an empire over technology and services, as neither could exist without some type of content. Content rules over technology because it is simply the enabler. Content reigns over services because it simply applies rules for access and engagement.

Content matters. There are still classes of content. There is no argument that you can try to “win” over the masses in simple content population contest. Most words, stories, white papers, research, collateral. In the end, mass does not increase worth. Content is really only valuable when it is relevant and engaging. Originality creates the highest value. Purity of content gives power. Losing all the spin and focusing on relevance will give content strength. Content with personality that uses real stories, experience and expertise is what is most valuable. In the end, content with integrity matters more.

Where your content kingdom resides is also imperative to the value. Original content with personality is irrelevant if it is invisible. It needs a home with a lot of good company. The company must have the same interests as the content provider. The home should be warm, inviting and engaging. Finding it in the back alleys of the Internet, also known as page 13 in search, simply means you might have good content but picked a bad location. The neighborhood of your content will have an impact on the value. Your content rules when you consider location, location, location and optimize.

To be the “King of Content” requires careful planning. Amassing a library of superior content that is relative gives power; however, having a targeted audience to engage and influence will keep you on top. Great content is a gift to your audience. It will keep on giving and giving if you leverage quality and quantity matched equally location. Work with a publisher that reaches your audience, an audience who will appreciate your influence and expertise. Then, you can rise to the top and really declare that your content is king!

First Published on EmpowHER Media
http://www.empowhermedia.com/content/the-gift-of-content/

Jamie Glass
Senior Vice President of Sales, EmpowHER Media
Twitter: @EmpowHERJamie