Business to Business

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I’m working with a company in the B2B space that has an interesting but very common website case:

  • They have an old, basic and static site
  • It has very weak SEO
  • They’re paying significant amounts of money for Google Adwords each month to get them page ranked
  • They’re not tracking anything

Luckily, they want this to change.  In conjunction with a website design overhaul, we’re going to completely up-end this model and flip it on it’s head (or side, or whatever).

One of the main topics of conversation has been the issue of Google Adwords – do we use them or not.  My answer is no, not right now.  A few further thoughts to that end [Disclaimer - I had a quick call with the team at HubSpot, as I would like to use their product in this process, and some of these thoughts stem from a conversation I had with Vas]:

  • Firstly, there is nothing in place right now to determine the effects of their Adwords: they don’t know who’s clicking, what they’re clicking on, if they’re qualified leads, etc.  All they know is that they’re the first (sponsored) link that shows up on Google for one of the keywords.
  • There was little research done to choose those keywords, and it was based loosely on product lines.  The list also hasn’t been updated in many years.
  • They have little to no effective SEO built into their site, which hasn’t been changed in over five years.

Essentially, they’ve put Adwords in place and let it run.

They’re simply paying the meter to reserve a parking spot, and hope they don’t have a cop come around and write them a ticket or tow the car away. Because that’s what would happen the minute they stopped paying the meter if they’d relied on their existing website.  The Adwords are only giving them short-term benefits while they’re still paying.

What we’re working towards is building their own parking lot where they won’t have to worry about paying the meter: An architecturally strong website, with sophisticated SEO, continually updated content, metrics in place to determine how people are accessing and using the site, and developing more paths for people to get there.

Does that mean we nix Google Adwords?  For now, yes. There doesn’t seem to be much point in using them if they don’t know what they’re bringing to the table. It’s sort of like parking in the first available spot before you know if it’s close to your lunch meeting near City Hall (”It’s around here somewhere,” he said.).  There might be spots closer.  Heck, City Hall could have it’s own free parking lot.

But only for now. Once we’ve gone through the process of developing a much stronger foundation – our website, and once we understand the best keywords to use (though, ideally, we’ve keyword-maximized the site so well that it can stand alone)….once we’ve really built something with a long-term future…..only then should Adwords be used to supplement these efforts. We’re building their own parking lot that they can park in on most days, and telling them where the best spot to pay for is next time they have lunch near City Hall….

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Blue tablets_webConsumer industries are in the thick of it now… for the most part companies selling direct to consumer have recognized the need for some kind of interaction in social media and have made at least some inroads in putting together a plan and a presence in relevant circles.

But B2B companies still struggle with the question of how relevant social media is to their marketing and pubic relations programs and whether or not social media really has an kind of impact on their bottom line. Think that’s a tough nut to crack? Enter an even more challenging question: what about regulated industries?

We often note that B2B companies have some specific challenges when moving into the social media space, but regulated industries have it even harder. Financial, medical, pharmaceutical and other industries are all required to play by very specific rules that have a significant impact on how “social” their marketing programs can be.

This week’s article in AdWeek takes a look at recent forays into the social media realm by a  number of pharmaceutical companies, and examines some of the opportunities and challenges regulated industries face in trying to stay up to date on the latest in marketing and communications tactics.

In many cases, pharmaceutical companies and others in regulated industries have addressed these challenges by developing a presence in social media networks, and then eliminating or strictly limiting the actual “social” aspect of their page. While this provides a band-aid for problems they face in allowing for more two-way communications with consumers, taking the social out of social marketing isn’t really a viable long-term solution.

What’s the solution? In some cases we imagine the burgeoning demand for better interaction directly with consumers may actually have an impact on regulations. But barring those kinds of sweeping changes, we argue that in most cases many of the concerns regulated industries have about using social media are largely unfounded. As the AdWeek article noted, many concerns about problems arising online are either extremely rare and unlikely in reality, or do not have the kind of adverse effects many companies assume.

Rather than fear the implications of the unknown, social media can be an opportunity for these companies to spend some time researching ways they can interact in social circles, because in many cases the assumption that they cannot and should not prevents these organizations from even considering or attempting a program in these spaces. Social marketing tactics come in many shapes and sizes, the real challenge is to not try to force existing models to work for regulated industries, but instead to take a creative new approach that addresses the challenges those industries face while still allowing for more two-way conversation to develop.

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PR agencies, consultants, industry experts and your board of directors are all talking about it. Thought leadership! The latest industry buzzword, the serious business’s way of talking about social media and a more stoic way of saying “we’re gonna make you a star!”

What B2B company CEO doesn’t want to be considered a thought leader? Who doesn’t want the rest of their niche industry flocking to them for visionary ideas and insightful analysis of trends? In reality, most companies and CEOs have been striving for this for years. The marketing team didn’t invent a new concept, they’ve just re-packaged it and sold it based on the use of new tools and techniques to (try) to accomplish it.

But not every thought leadership program is a success, in fact there are probably a lot more failures than successes, and I think that’s because a lot of people don’t understand what it really means and what it’s really going to take in order to achieve “leadership” status. So here are a few things I argue need to be taken into account before you go down the thought leadership path:

1) You are going to have to stick your neck out.

Being a thought LEADER means you’re ahead of the pack. In many cases, that means making bold statements about the future, disagreeing with other major industry voices, and having a strong and consistent point of view that is DIFFERENT from everything else around you. A lot of people feel like they want to get involved in the industry conversation, but they don’t want to ruffle any feathers (and there are a lot of feathers to ruffle… customers, clients, partners, analysts, reporters, employees, the board, etc.) If you’re not willing to stick your neck out, then you’re going to be seen as a leader, you’re just another voice saying the same things already being said in other circles. Boring. No one is going to listen.

2) You can’t be an expert on everything.

You probably can’t even be an expert on everything your company does, unless you only have one product and it’s very niche. Sure, you have a business intelligence software company. But there are a lot of BI experts. Niche out. Pick a particular aspect of BI that is new, on the forefront, or that your company and you yourself are particularly good at and knowledgeable about. You can link your thoughts on this niche back to the whole, but the point it, if you’re a generalist, then you’re not an expert. You’ll spread yourself too thin.

3) You can’t use your boardroom voice.

Please. Don’t do it. Don’t decide you’re going to start creating content and positioning yourself as a thought leader, and then insist on a buttoned-up suit and tie voice and attitude. Relax. Let your passion, frustration and knowledge show through. In any situation in which you are positioning yourself as a thought leader, being the boardroom voice is not the way to go. Just think about the last conference you attended. Who was the best speaker there? Chances are, it was the guy who talked off his corporate powerpoint the whole time and never cracked a smile or got fired up.

4) You can’t be lazy.

You’re not lazy, I know. But establishing yourself as a thought leader can be a full time job, so it takes a lot of commitment. You need to constantly stay up to date on industry news and trends, and you need to adhere to a strict schedule of producing content and communicating with your audience. You also need to stick to these things even if at first you’re not seeing huge results. Building a program like this takes time, so you need to make sure you’re in it for the long haul… before your start.

5) You need to share the love.

Everybody wants a voice. So if you’ve got a platform, invite them to share their voice on your territory. This can apply in any number of situations, including asking a customer to contribute, or a partner, or a board member. Encourage an ongoing discussion where you become a leader AND a facilitator. Share the pulpit, and you’ll widen your reach and expand your list of loyal supporters.

Make sure you consider these factors before investing time, money and energy into a full-blown thought leadership program. Not every company is cut out to be THE leader, sometimes it’s best to focus on offering a great core product and communicate well with customers and potential customers, not striving to become the go-to industry guru.

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Kate just posted over on B2B Voices on adding the use of video to your B2B online marketing program.

In the B2B space, online marketing channels are gaining a lot of traction because of their lower delivery costs and higher response rates, as well as the potential for greater ROI than can be seen in traditional mediums like print. Meanwhile, video is said to be one of the most important decision influencers in buying decisions. It’s also the fastest growing content channel “in the history of the world.”

To me, this means it should be, at the very least, considered as a marketing option.

It can be easy to implement, it’s visual – which is one of the most appealing forms of content – and can be consumed quickly and easily, it builds awareness, and allows for an inside glimpse into your company, which may not happen a lot in the B2B setting.

You can read more about things to think about when using video in your B2B organization, and a few ideas to get started.

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Marketing Profs had a great post last week about the benefits of social media for B2B companies.  They focused primarily on the research advantages it offers, with the following highlights:

  • Conducting research to understand more about a prospect’s or client’s “buying desires.”
  • Finding decision makers for certain products and services.
  • Extracting names from a given community for lead generation.
  • Getting answers to questions, reaching out to other experts.
  • Finding joint-venture marketing partners and creating various “cooperative opportunities.”
  • Connecting with past customers, keeping them up-to-date.

The research capabilities that social media channels offer are great, without a doubt.  But I think there’s more potential that it can offer B2B companies, especially in the way of brand outreach and thought leadership.  A few ideas are below**:

Brand Outreach

  • People often congregate online based on common interests or professions.  Many of these people are, as you guessed, employed in their field and, if not in a decision-making position, are at least closer to the decision-maker than you may be.  Join in their conversation in a valuable way.
  • Sponsor groups or networks that offer a forum of exchange and engagement for people that might be in what you consider your “target company” (see above).
  • Rethink how you communicate with your clients.  Offer them a platform of 2-way conversation.

Thought Leadership

  • Provide valuable information that establishes your company as an innovate thinker in your industry.  The end goal is to position yourself as an industry leader.
  • You could post a blog on useful industry information, again providing timely and innovative content to your readers.  Kinaxis has done a good job at this with their blog, The 21st Century Supply Chain.
  • Develop a complete content production program with such things as eBooks, white papers, webcasts etc and utilize social media channels to disseminate your information.
  • Part of the idea of a content production plan is that the information that you’re outputting is ultimately connected to your brand in the eyes of the reader.

And of course, there’s good ole’ brand management and brand equity.

** This is not about broadcasting your brand.  Developing a concrete social media strategy is key for success!  Haphazard entry into the social media space usually ends up being ineffective at best, and detrimental at worst.

Can you think of anything other ways that social media can benefit B2B companies?

[Update] There’s a more robust follow-up to this post over on B2B Voices – “4 Great Reasons to Start a Social Media Program as a B2B

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