Key digital trends for 2021

 Here are the seven digital trends for 2021.

1) Changes in B2B & B2C marketing strategies – Creating efficient strategies in lead generation and relationships

As well as engaging, social media now has to deliver sales results, and this is visible when a company begins to measure such results effectively. With the pandemic, some business models have been accelerated, such as online retail, click and collect, frictionless retail, and D2C e-commerce, changing the way companies position themselves to meet customer needs. Today, one of the basic principles of any content strategy is generating leads to build relationship with potential customers.

In the strategic domain, a big hit this year is expected to be big data-based natural language processing (NLP), which should help gain better understanding of the information obtained through big data systems and thus ease user interaction. Other highlights are the Data Warehouse (predictive, prescriptive, descriptive or diagnostic analytics) and Dark Data, which refer to all information that companies collect, process and store in the normal course of their activity, but are not intended for any other specific use.

2) Will 2021 be the year of AR and AI?

We are currently in the third wave of the Internet, a stage where Virtual Reality (VR), Augmented Reality (AR) and Artificial Intelligence (AI) are already part of all (or almost all) aspects of our lives. With these tools, brands can go beyond screens: they can experiment new formats and increase their creativity. However, like all new technology, using this resource requires a large investment in the development of prototypes.

Another factor pointing to the growth of Augmented Reality is the 5G technology, which should soon revolutionize how we connect with the Internet of Things (IoT). In the area of Artificial Intelligence (AI), we can expect a significant advance in technology being used to improve workflows and the buyer’s journey through personalization and hyper-personalization. In marketing, automation should go beyond naming the person to whom the message is directed; however, as artificial intelligence advances, some companies, such as content agencies, may probably be adversely affected.

3) Entertainment, Music, & Games – Creating online communities through influencers

It is often said that one of the paths to the future of social media is entertainment. However, several brands have difficulties in creating attractive content to their customers. An extremely viable solution is to team up with influencers who already do it very naturally. After all, real people connect with real stories, and nothing better than working with great opinion makers to bring entertainment to consumers who are increasingly demanding and seeking true connections.

Another big news is Spotify Studios , launched in 2020, which is aiming to include video podcasts. The gaming world is promising too: for instance, Fortnite has already performed several initiatives, such as including DC Comics characters in the game.

4) Flywheel – The clients are in the center

Several markets have used data captured in the digital environment and creating segment-oriented messages based on the user’s personal characteristics. Now it is time to have these data used not only by the marketing team but by the entire organization in a more strategical fashion aiming to design new products, services and solutions, and place the customer in the very center of all operations. Part of this change is related to the m-commerce, whereby purchase is made via cellphones. By the end of 2021, mobile devices are estimated to generate nearly 73% of the total e-commerce sale record, which entails that we need new digital strategies, especially content-centered strategies.

5) Engagement with purpose – Diversity and inclusion initiatives

Changing people’s lives through the enterprise’s activities is a growing trend in the market. Embracing diversity is currently a challenge for brands of which the public demands a more authentic position and long-term actions. Therefore, organizations should not decide to support a cause if they do not intend to live up to the expectations through actions. For example, if an organization is willing to invest in an LGBT-oriented campaign, it must ensure that its employees hold this ideal, provide job opportunities to this demographic, and treat LGBT people adequately. This is the only way for the campaign to be effective. This applies to any other topic of interest. Brands approaching diversity-related topics is a response to the constant changes in society, but it is necessary to be cautious and avoid superficial approaches.

6) New possibilities – Virtual Assistants, Twitch, TikTok, WhatsApp, Shoploop, & Kormo Jobs

Both voice search and use of virtual assistants such as Alexa and Siri should be taken into account in 2021. With the increasing use of voice search, brands are supposed to produce content aiming at these platforms. Twitch, which is widely used by the gaming community, has gained new audiences. Chinese social media TikTok already has offices in various parts of the world capable of designing solid strategies for brands. WhatsApp has promised to become an important sales tool, especially for small businesses.

The latest is Shoploop, a new video application that has come to compete with TikTok, but it has a more commercial focus that can truly benefit electronic commerce. This new project comes from Area 120, a Google department dedicated to innovation. For now, Shoploop is still in its trial phase, but another novelty, also from Google, that promises to draw attention in 2021 is Kormo Jobs, the Asian LinkedIn, Google’s newest professional tool. Already available in India, it promises to become the newest website connecting professionals worldwide.

7) Creative Talent – Senior professionals with a disruptive leader

With the increasing value of digital marketing over the past months, native advertising and programmatical advertising have joined forces, and now must work cooperatively. Having a team well directed by a manager with robust global experience and holistic vision is of essence. Having a well-aligned team delivering projects by the deadline is no longer enough; it is also necessary to innovate and be disruptive, to have the ability to leverage the social media and content team and assist the marketing professionals to make important decisions.

For example, in 2021 digital teams should create strategies for Bing and Yahoo! as alternatives to Google, and consider programmatical advertising for wearables, including the popular smartwatches. All that must be discussed and strategically lined-up with televised merchandising.

Tough Enough| Dell

This particularly audience-focused campaign from 2014 led by Mediacom, born out of the need for Dell to build brand trust in Germany, led to the realization that the tech giant had been making false assumptions about its target market.

Dedicating a significant amount of their time to audience research, the creative Medicom team discovered that most IT decision-makers actually relied on an informal network of IT Administrator colleagues to make a purchasing decision.

Using this insight to refocus their marketing, they uncovered a clear frustration among their target market with computer illiterates.

The message was simple: “Life is tough enough, take IT easy”.

Launching a powerful, content-driven campaign, it consisted of a 16-webisode sitcom honouring the heroes of the IT department and recounting tales of day-to-day struggles that only their target audience would understand, resulting in an abundance of targeted leads.

“The Dell ‘Tough Enough’ campaign was so successful because, rather than talking to the target audience about servers or back-end infrastructure, we created branded content that entertained them while still enabling them to relate to the brand”.

“We made them laugh and, most importantly, we also made it easy for them to share their own stories.”

What Is Account Based Marketing?

A growing number of B2B marketers are embracing account-based marketing (ABM) as part of their overall marketing efforts. ABM perfectly complements the traditional, short-term marketing goal of generating leads with efforts aimed at driving long-term revenue growth.

What is account based marketing?

In its simplest form, ABM is a strategy that directs marketing resources to engaging a specific set of target accounts. ABM doesn’t just call for alignment between sales and marketing teams – it forces teams to align because personalization at the account level requires sales and marketing to be in sync on account-specific messaging. The motivation? Higher revenues in a shorter time frame.

Instead of casting a wide net with their lead-generation efforts, marketers using ABM work closely with sales to identify key prospects and then tailor customized programs and messages to the buying team within target accounts.

Why would you want to practice ABM?

Even as buying circles are growing, marketing teams are feeling more pressure to directly impact revenue growth. It’s a core reason that the ABM approach is seeing significant uptake. ABM focuses you on relationships in your highest opportunity, highest-value accounts.

For instance, assume you sell an expensive SaaS product or consulting service. Rather than take a blanket approach – going after small businesses, SMBs, and enterprises – you might start by focusing on those accounts that have the highest need and the required budget.

By combining efforts and resources, marketing and sales can more efficiently engage and convert accounts. In fact, they gain the luxury of slowing down to develop a thoughtful approach that boosts the odds of driving engagement.

That well-considered approach matters at a time when buyers are increasingly insistent on outreach tailored to their business and even their personal interests within the business. ABM requires that marketing and sales engage each person on the buying team in a personalized way. A personalized approach is essential when aiming marketing and sales efforts at a few select, high-value accounts.  

Personalize well and buyers are more open to your outreach and less likely to ignore your content and communications.

Who does ABM benefit and how?

Some say ABM is most effective for B2B companies that sell to a few large key accounts or accounts of a certain size in a specific industry. Others argue that ABM can work for B2B organizations of any size, as long as the focus is on high-value accounts.

At a more granular level, ABM is a win-win-win for sales, marketing, and customers.

ABM perfectly complements the account-based approach sales teams have embraced for years. With the dedicated involvement of marketing, sales teams can better personalize their outreach. Nurturing targeted members of the buying committee with appropriate marketing messages tends to speed up the sales process, allowing sales to achieve better close rates while closing bigger deals faster.

Marketing benefits because sales sees the marketing team as a trusted ally on a strategic mission. Rather than deliver leads that languish, marketing works in tandem with sales on a defined list that both teams agree make the most promising targets. In fact, 84 percent of businesses using ABM say it delivers higher ROI than other marketing campaigns.

A valuable by-product is that ABM enriches the marketing team with a much deeper understanding of the company’s overall target audience. Marketing can apply their insight into what content and messages resonate to amp up the results of their other efforts.

Customers also benefit from ABM in the form of a better experience. Buyers prefer personalized interactions, and ABM delivers just that. Serving targeted content and messages that resonate takes up-front work, and customers will recognize and appreciate this – and the fact that you don’t waste their time with ones that are off the mark.

How to align sales and marketing around an ABM strategy

Getting sales and marketing working as a cohesive account team is the ultimate secret to success. Without that alignment, your target accounts will suffer through a fragmented experience as marketing and sales trip over each other, rather than pave the way for each other to effectively engage with key decision makers.

Success starts with clear communication between your sales reps and marketers, and continues as both groups execute their part of the strategy throughout the buyer journey. Agreeing from the get-go on the ultimate goal of the ABM program helps marketing and sales get in sync and figure out the most fitting target accounts and the best strategy for reaching and engaging them.

While the top objective is to land new accounts or expand business with existing ones, marketing and sales should define smaller goals that align to the bigger goals. These stepwise goals can include:

• Pinpointing a higher number of decision makers within each account
• Securing a greater number of senior-level appointments/meetings
• Accelerating the sales cycle
• Encouraging higher customer loyalty or reducing churn
• Closing a higher percentage of large deals
• Boosting revenues within existing accounts

Creating an account based marketing strategy

When marketing and sales share a similar mindset – how to target and land accounts – they can collaborate around a common goal. The first step is co-developing an ABM strategy so sales and marketing can work together as parts of a joint “account team.”

At a high level, this means marketing focuses its budget on the accounts that sales deems most important. Sales and marketing agree on common goals, messaging and content, how to execute, and metrics to evaluate success. Let’s walk through the core steps of developing an ABM strategy.

Step 1: Identify high-value accounts

Analyze your existing customer base to identify the ones that fit your definition of an ideal customer. While this definition can vary based on nuances such as industry and other overarching descriptors, it often boils down to the most profitable, long-term, happy customers who are a pleasure to work with. In other words, they’re a strong fit for your company, enjoy success with your solutions, and deliver the biggest lifetime value.

Keep an eye out for the existing accounts that have shown openness to expanding their footprint with your company, along with new accounts that satisfy your strategic criteria. For new accounts, you might answer the question “Does this account have an urgent need we can address and that would compel it to spend $X amount?”

Step 2: Map individuals to accounts

In any B2B deal involving a significant purchase, your marketing and sales teams will need to help drive consensus among the key stakeholders. Your first step is identifying those who can wield influence on the final buying decision. These are the committee members you need to engage and persuade to take action.

For example, let’s say a company selling marketing software is identifying key decision-making roles within select accounts. The list of individuals might include the CMO, digital marketing managers, CIO, and CFO.

Just remember: Individual contacts are important, but in the context of the entire account. In other words, you need to connect the concerns and needs of each person on the buying committee back to the strategic objective of their company. Your main goal when engaging each stakeholder is to help drive consensus for a purchase decision.

Step 3: Define and create targeted campaigns

Once you’ve chosen your target accounts and individuals, you need to develop personalized campaigns designed to resonate with them. Keep in mind that building and nurturing relationships is central to a successful ABM program. You’re most likely to succeed by providing valuable consultation and education, all mapped to the account’s buying cycle.

It starts by aligning your messages and content with the interests, needs, and challenges of each account and key stakeholder. Ideally, you should develop a unique value proposition and relevant content for each stakeholder that influences a buying decision.

Bake ample thought leadership content into your content plan:

1. Understand what stakeholders believe. Start with research into the existing state of the conversation, so you can meet your reader where they are.
2. Develop and articulate a well-informed point of view. Make a strong case for your position, and make it clear that you have the authority to take a definitive stand.
3. Frame your story in terms of value delivered. Back up your viewpoint with real-world examples that demonstrate your ideas in action.

If your messages and content are on point, buying committee members might share it with their colleagues. Truly personalize the message for each individual within an account. Doing so, you instill confidence in your company as a trusted advisor and partner that has done its homework and is providing useful information and guidance.

Step 4: Pinpoint optimal channels

To reach your target accounts and the key stakeholders, figure out which channels they use most to research trends and solutions. This may vary by role or even industry, so don’t assume you can apply a one-size-fits-all approach here.

Step 5: Develop a strategic playbook

To clarify roles and responsibilities, put together a playbook that outlines who does what and when. Specify the tactics that both marketing and sales will use to engage contacts within accounts and drive interest and action. Give this meaning by designing a campaign cadence that maps each communication/outreach with the appropriate channel and message or content.

Step 6: Execute your campaigns

Marketing and sales engage with accounts on an individual level using a personalized strategy that makes sense for each contact. Campaigns can include an array of tactics, including email, special events, direct mail, ads, and more. Since relationships drive ABM strategy, use that to guide your outreach.

For example, maybe a specific team member reaches out because they went to the same college or share the most professional connections with the contact. That team member can then make introductions to the team member who owns the account.

Step 7: Measure and optimize

Measuring ABM results is different than measuring the impact of standard lead-generation tactics. Marketing and sales are jointly accountable for driving pipeline and revenue when it comes to ABM. You care about moving accounts – not individuals – through the purchase process.

In addition to tracking account engagement, tally opportunities created, along with closed-won deals and their value. Give your teams enough time to generate results – in line with the typical purchase cycle – and then adjust your strategy and tactics as necessary.

Types of account based marketing

ITSMA is widely credited with pioneering the ABM approach in the 2000s. Along the way, it has identified three ABM approaches companies take: strategic, lite, and programmatic.

Strategic ABM

This approach is executed on a one-to-one basis, typically for highly strategic accounts. Relationship-building is a core focus of strategic ABM. As a result, this approach relies heavily on personalized marketing campaigns that demonstrate an in-depth understanding of the target account.

ABM Lite

The ABM Lite approach makes it possible to pursue ABM at scale. In this version, the focus is lightly personalized/customized campaigns aimed at a small group of like accounts. For instance, accounts of a similar size facing comparable challenges and pursuing analogous initiatives might get the same messaging and creative.

Programmatic ABM

You could say programmatic ABM combines strategic and lite ABM by calling upon the latest technologies to tailor marketing campaigns for target accounts at scale. Usually this approach goes hand in hand with a focus on a certain horizontal or vertical segment.  

You might find it makes sense to use just one approach or a mix depending on your business and the sophistication of your ABM program.

Account based marketing vs. inbound marketing

Some marketers wonder whether they should dedicate their resources to ABM or inbound marketing. But it’s not an either-or decision. Both are core practices in the modern marketing toolbox. And they actually complement one another.

While you are engaging individuals within target accounts with personalized content and interactions through outbound methods, you can reinforce your messages with your online presence calling upon best practices for inbound marketing. In other words, you are trying to attract your target accounts through helpful, relevant content. You may even gain a new target account through your inbound marketing efforts – one that perfectly fits your definition of an ideal customer but was overlooked as you pulled together your target list.

Since your inbound success depends on your content being found online, you need to develop your content with search engine optimization (SEO) in mind. Many B2B organizations also find it effective to amplify their content reach using online ads.

Account based advertising

With account-based advertising, you proactively choose who should see your display ads. To that end, every account-based marketer can take advantage of LinkedIn Account Targeting. After you upload a list of your target companies, Account Targeting matches them against the 13+ million Company Pages on LinkedIn.

At scale, you can get in front of key stakeholders across target accounts with ads tailored to their role and stage of the buying cycle. For your initial outreach, you can use LinkedIn Sponsored Content campaigns to display relevant content to a select audience segment. Then through Sponsored InMail, you might directly reach out with a short message from a sales rep with a personalized offer.

While you can reach any stakeholder using account-based advertising, it’s especially valuable for engaging the decision makers who aren’t actively conducting purchase research for the solution in question. Think the CFO or Procurement Officer. Account-based advertising is a relatively inexpensive way to expand your reach within your target accounts.

In a pilot of LinkedIn Matched Audience campaigns, marketers saw an average 32 percent increase in post-click conversion rates and 4.7 percent drop in post-click cost-per-conversion.

Common barriers to ABM success

While it takes a concerted effort and up-front work to launch an ABM program, success is within reach for every B2B organization. So why do some companies struggle to unlock their full revenue potential via ABM?

Failure to align on the right target accounts

It’s a given that if marketing and sales don’t agree on the same target accounts, all the promise of ABM goes out the window. ABM works largely because of the combined power of marketing and sales hyper-focused on the accounts with the highest potential. Fail to get in line on this foundational element of your ABM program and all your other program tactics will be for nothing.

Lack of accurate shared data

Calling upon a shared source of data about target accounts goes hand in hand with identifying the right target accounts. According to InsideView, 43% ranked lack of accurate/shared data on target accounts is the top challenge to sales and marketing alignment. If marketing is turning to its marketing automation system of record while sales consults CRM to pinpoint target accounts, it’s no surprise the two groups are out of sync.

Check out our recent post for ways you can align around your target audience and knock down these barriers to success.

Unrealistic expectations

If you’re hoping your ABM program will transform the buying cycle and your revenues overnight, you’ll be sorely disappointed. Rather than expect miracles, set realistic goals. Until you smooth out all the wrinkles and your ABM program kicks into high gear, you’re far more likely to see incremental improvements rather than mind-blowing results. As long as you maintain an upward trajectory, you’re on the right track.

Examples of account based marketing in action

A number of new tools and technologies on the market have made ABM more practical by enabling marketers to deliver targeted messages with improved precision. As we previously mentioned, LinkedIn has a targeting capability that helps support ABM: LinkedIn Account Targeting.  

LinkedIn Account Targeting enables marketers to engage the accounts that matter most to their business by tailoring their LinkedIn Sponsored Content and LinkedIn Sponsored InMail campaigns to a list of top priority accounts, and then layering profile-based targeting, such as job function or seniority, to put their content in front of the right people in a particular organization.

If you’re looking for more inspiration, look no further than these examples of marketers who have used LinkedIn to drive ABM success.

Genesys uses ABM to drive 60% of net-new leads

When the Genesys digital marketing team needed a solution to underpin their newly launched ABM program, it chose LinkedIn. As Bhavisha Oza, Director of Digital Marketing for Genesys, says, “LinkedIn, with its massive professional network, was unique, as it offered an ABM program targeting IT and support functions, our core buyer personas.”

Using LinkedIn’s highly accurate account targeting capabilities and LinkedIn Sponsored Content, the team ran campaigns that put their brand in front of the target audience. Thanks to a combination of targeting and optimization, the team’s ABM efforts have yielded encouraging results, with 60 percent of all leads generated being marketing-captured, or net-new leads.

ServiceNow captures 100% of form fills using ABM

In support of its ABM strategy, ServiceNow used LinkedIn’s targeting capabilities to deliver content to niche decision makers within select accounts. “We haven’t seen any other solution that is able to give us that level of targeting,” says Suma Warrier, Manager of Customer Acquisition and Personalization for ServiceNow. Once it noticed a high percentage of LinkedIn traffic was coming via mobile, ServiceNow integrated Lead Gen Forms into its campaigns. The company saw stellar outcomes, including a nearly 100% improvement in form fills by using Lead Gen Forms.

SalesLoft reduces cost-per-conversion by nearly 50% with ABM

Every quarter, SalesLoft’s marketing and leaders agree on account list tiers. Then the company uses account targeting and contact targeting to run ABM campaigns designed to engage decision makers at the prioritized accounts. By using ABM and LinkedIn to connect with prospects on a deeper level, SalesLoft has cut its cost-per-conversion (CPC) nearly in half.

Spigit converts a higher percentage of leads into revenue with ABM

While a lower CPC is cause for celebration, the real proof of success is revenue generation. Spigit used LinkedIn’s targeting capabilities and LinkedIn Sponsored Content to run a series of ABM campaigns. The results far exceeded LinkedIn’s benchmarks, with an overall lifetime click-through rate (CTR) of 0.517%, with an engagement rate of 0.567%. According to Lin Ling, Growth Marketer at Spigit, “LinkedIn has been, by far, the best channel for generating quality leads that convert, helping us exceed our revenue goals and achieve 7X ROI.”

10 Marketing experts define account based marketing

Marketers can learn how to bolster their ABM efforts – or implement a new program – by studying other marketers who are ABM leaders. We asked 10 ABM experts to share their definitions of account-based marketing, which can provide some insight of how they put it into practice. Share their words of wisdom with your colleagues should you need to inspire them to get on board with ABM.

Account based marketing is more targeted and personalized versus spray and pray, where you’re just trying to capture anyone in your net. You’re being very specific about who you want to talk with, and it’s a way for sales and marketing to align on the target.

                            -- Meagen Eisenberg, CMO, MongoDB

In its purest form, account based marketing has been around forever. Account based marketing is simply instead of fishing with nets, we’re fishing with spears. You identify exactly the prospects you want to do business with and then you market very precisely and narrowly to them directly. I think we have a renewed interest in ABM now, because there’s an advancement in tools and technology that make it a little easier to execute – but the idea of doing target account selling and target account marketing is not new.

                            -- Matt Heinz, President, Heinz Marketing

Our definition of account-based marketing is just good marketing. If you only had one prospect to sell and market to, you would treat them with the same principles as outlined in ABM. It’s just aiming at a more well-defined area of that funnel, and treating your best buyers in a much more personal way. And we’re focusing on not only the lead but the account as a whole.

                            -- Justin Gray, CMO, LeadMD

To break down walls between sales and marketing, ABM is pretty close to a silver bullet in that it aligns programs’ dollars and focus behind the accounts that the sales teams cares about. So there's inherent buy-in. That said, ABM is only as good as your visibility into your highest potential accounts and best-fit customer segments, which gets clearer over time. So it’s most effective when deployed as part of a comprehensive set of targeting strategies.

                            -- Dave Karel, Principal, OutLeap Marketing 

Account-based marketing is thinking of the account as a market of one. It’s about being laser-focused on their needs and deploying the most effective marketing tactics available to nurture value-added, pervasive conversations with key stakeholders. This is the place where marketing and sales are at their closest, brought together by common goals and a crystal clear understanding of what success looks like.

                            -- Nick Panayi, VP, Global Brand, Digital Marketing & Demand Generation, DXC Technology

I define account-based marketing as total marketing and sales alignment around who are target customers and the efforts to go get them. They align with the same outcome in mind: to get a specific account as a customer.

                            -- Dave Rigotti, VP of Marketing, Bizible

ABM to me and to CSC is treating a single account as a market of one, and within that marketing of one we’re looking to customize our marketing activities and message in close collaboration with our sales team – and not just down to a buying center or persona but right down to the individual.

            -- Dorothea Gosling, Director, Marketing Programs, Pursuits & ABM, DXC Technology

Account Based Marketing is a strategic approach that coordinates personalized marketing and sales efforts to open doors and deepen engagement at specific accounts.

                            -- Jon Miller, CEO and Co-Founder, Engagio

Instead of leveraging a set of broad-reaching programs designed to touch the largest possible number of prospective customers, an ABM strategy focuses marketing and sales resources on a defined set of targeted accounts and employs personalized campaigns designed to resonate with each individual account. With ABM, your marketing message is based on the attributes and needs of the account you’re targeting.

                            -- David Cain, CMO, PlanGrid

Account based marketing is focused B2B Smarketing. I say “Smarketing” because ABM is all about focusing on the right accounts in collaboration with sales. ABM is not a solo activity. It's the combination and range of activities from advertising, direct mail, calls, emails, content — all centered around the ideal set of accounts that you believe has the need for your solution. It's quality over quantity in its most basic form.

                            -- Sangram Vajre, Co-Founder and Chief Evangalist, Terminus

Brand Engagement

How to stay professional, but still create a personal connection to express your appreciation to B2B clients ?

Challenging isn't it ?

The key word here is Having an Attitude of Gratitude, and following will help :

1) Send a Handwritten Note
2) Invite Your Client to an Industry Event
3) Send a Personalized Gift
4) Make Them Laugh
5) Help Them Learn Something New
6) Pay It Forward with a Great Book
7) Reward the Socially Savvy
8) Remember Your Long Distance Relationships
9) Offer an Upgrade
10) Refer Customers

Adobe Stock Apparel SS16 Lookbook

If you're a marketer, you've experienced the pain of sorting through seemingly endless pages of bad stock photos in search of one that just isn't too awful. To promote their new stock photo service Adobe Stock, Adobe partnered with Swedish agency Abby Priest to develop a tongue-in-cheek fashion line that features outdated, overused stock photos.

You can see the full Adobe Stock Apparel lookbook here.

B2B Marketers: If Your Markets' Needs and Behaviors Have Changed... Why Hasn't Your Marketing?

Reports, statistics and factoids are marketers' best friends. After all, data gives us information from which we glean intelligence to build our business models, marketing strategies, plans to increase market share and programs to cut through clutter. And rock-solid data is the fuel we need to drive change within our departments and across our organizations.

Devoid of statistically sound findings, however, we're left relying on gut feelings and our personal views of how we perceive things to be... which can turn out to be perfectly correct or miserably myopic. So research gives us insight, reduces uncertainty and lends credibility to our business arguments.
And that brings me to the facts and findings from the just-released Consumer New Media 3-Part Study (by Cone Inc.), which are too good not to share--but I'm going to do so with a bit of a twist. As the report is aconsumer-oriented study, I'm going to extrapolate some of the study's findings to cite implications forbusiness audiences. Because the fact is, B2C gets the lion's share of social media marketing attention and while B2B social media studies are popping up more, B2B folks still have to dig deeper for social media data that speaks to the needs, challenges and profit potential inherent to professional audiences.

*Online Brand Engagement* 

• Fact: "Almost 80% (78%) of new media users interact with companies or brands via new media sites and tools, an increase of 32% from 2008 (59%)."

B2B implications: As consumers go, so too with professional audiences (uh, the Internet and email, anyone?).  And while consumers use their computers and Web-enabled mobile devices for entertainment and other tasks throughout the day, professionals are all-out tethered to their computers at least 40 hours weekly. Thus, adoption rates for B2B audiences are undoubtedly keeping pace with consumers, but professionals are using social media for work-related activities, like researching products, evaluating brand alternatives and informing purchasing decisions... which are mighty important activities for marketers to capitalize upon.

• Fact: “Users are conversing with brands more often: Some 37% say they do so at least once a week -- up from one in four when Cone did the study last year.”

B2B implications: Consumers communicating directly with brands is new, some might say it's revolutionary. But professionals dialogue with brands all the time—they always have. Why? Because when professionals make a purchase, they interact with the company that produces the product, service or solution as a matter of course since B2B purchases involve long purchasing cycles, lots of questions and, in the process, developing relationships with those company representatives. B2B branding, in other words is very high touch.
Moreover, business purchases many times involve aftermarket maintenance contracts which means professionals continue to interact with brand representatives after the sale (How well do you know your copier maintenance guy?). Thus, social media gives professionals an online channel to do the very same activities they've been accustomed to doing offline for decades and is a natural extension to other communications channels.
*Influence/Power*

• Fact: "Perhaps the most intriguing part of Cone's data, however, is that consumers strongly believe that new media is a two-way street, with 62% saying they can influence business decisions by voicing their opinions through new media."

B2B implications: While consumer goods span a wide spectrum insofar as price and risk (a $3 bar of soap vs. a $15,000 car), business purchases are, by their very nature, higher in price and risk (a $3 million dollar software integration, a $15 million-dollar piece of construction equipment). And while a consumer purchase affects the individual, or their whole family; a business purchase, affects an entire business department or the entire enterprise.

The point here is that positive and negative opinions posted online by professionals go a long way and hold HUGE influence in how other professionals perceive (and, yes, purchase!) brands because professionals are always looking to lower risk since purchases affect their jobs, other employees and the organization. *Purchasing Behavior/Decisions* 

• Fact: "Consumers are most interested in information that will inform their purchasing decisions. Respondents said they want companies to tell them what is in products and how they are made (85%) and provide additional details about information, labels and claims shared offline (e.g., in the store, on the package, in an advertisement) (83%)."

B2B Implications: Professionals want the very same information about their purchases--but more importantly, they NEED it. Business purchases are never impulse decisions, they always require analysis and so it goes: the more informed a prospect, the better the chance that prospect becomes a customer. Given that rationale, B2Bs would be doing themselves a disservice (and helping their competitors) by not using these technologies to facilitate purchases.

• Fact: "30% have made a purchase based on POSITIVE information learned about a product, company or brand; and, 23% have switched brands or boycotted a company based on NEGATIVE information learned about a product, company or brand."

B2B Implications: If 30% of consumers have made purchases due to positive information learned about a product online, then I argue the same, if not much higher!, applies to professionals. Why? Because professionals place a great deal of clout on third-party feedback with every purchase they make... be the third-party feedback from analysts, journalists, industry thought leaders, colleagues or other professionals.
As explained earlier, professionals are risk-averse and seek high levels of assurance about purchases beforehand, with negative reviews also of great interest to them as they weigh product alternatives. Now, more than ever, B2B marketers must ensure that (1) their offerings are high in quality, (2) their customer service is operating at optimal levels and (3) all of their marketing messages live up to their claims. Said another way: You can either facilitate positive WOM or negative WOM, the choice is truly within your control.

*Fulfilling Needs* 

• Fact: "Consumers still feel companies’ or brands’ top priorities within new media should be to problem solve and provide information (61%, up from 43% in 2008)."

B2B Implications: Problem solving and information gathering are absolutely core to B2B jobs and purchasing—after all, professionals are busy and they need information that will help them make decisions quickly and solve challenges even faster.

Many of the B2B social media strategies I recommend to clients and colleagues are based around programs that facilitate a high transfer of knowledge and problem solving, as these attributes are valuable to B2B professionals and areas that they consistently engage around (just look at an agenda for any major conference and you'll see that speeches and workshops are primarily based around communicating new opportunities, new methodologies or new ways to solve problems).

*Competitive Advantage*

• “'Consumers haven’t yet been exhausted by brand oversaturation in the new media space,” says Mike Hollywood, Cone’s director of new media. “There is still an opportunity for forward-thinking companies to establish a presence and earn a competitive advantage. Based on the growth of user interactions with companies, countless purchase decisions are being influenced by new media. It’s imperative to get on board now that the train has left the station."

B2B Implications: If consumer audience segments have not yet been over-saturated by social media campaigns--with B2Cs implementing social media programs at exponentially higher rates than B2Bs--then that signals tremendous opportunity in social media for B2Bs. Yet B2Bs wait (and wait!) for others to go first which is ironic since being first is the one of the key factors in gaining a competitive advantage, no?

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Further material can be found @ B2B-centric information archived for you right here.

B2B Social Communications| DuPont's Social Media

In 2007, DuPont launched five videos on eight web blogs in a marketing program designed to increase share of voice for DuPont on the Internet and to introduce DuPont science to a younger, wired and online generation. The videos were made specifically for online audiences looking for stories told through video which are different and interesting.

Tapping into over 40 years of video archival footage, each video showcases how science from DuPont helps to protect people and how innovations developed by DuPont enhance people’s lives. The blogs offered a mix of general and targeted interest audiences.

Blogs were selected for this project because they reach a devoted, targeted audience and their audiences tend to talk to others about their interests, encouraging word of mouth.

Completing DuPont’s marketing pilot to the blogosphere, videoblogger Amanda Congdon was the on-screen host for the five videos. Amanda is best known for her work on Rocketboom, a popular news and entertainment videoblog. BlogAds and FM Networks assisted the project in distributing the videos.

The campaign delivered on three key objectives:

(1) increasing awareness for DuPont science,

(2) increasing positive sentiment for DuPont and

(3) creating stories sufficiently compelling to generate word of mouth.

BDI 9/16 B2B Social Communications Case Studies - DuPont

View more presentations from Business Development Institute.

The DuPont Science Stories campaign was one of three national finalists for the Online Media Marketing and Advertising (OMMA) Best Campaign in Social Media Award 2007.

Here is one of the five videos in the series. You can view all the videos in this series at stories.dupont.com, however, I cannot find any link to this anywhere on the DuPont website. I would like to think that if they hold up a two-year old social media program as a success, they would want to continue to tout that success by providing access to the video. Additionally some of the links no longer work, which is another indication that this campaign has been relegated to the backwater of the DuPont website. If you are presenting a case study of an old program, make sure you check all the links on an old page.

Blogger notes:

Too many industries still consider members of the retail distribution chain to be their customers. The businesses (especially manufacturers) in these industries put most of their marketing budget and effort selling to those who will sell their products. The end-user is almost an afterthought, even though the end-user is the one who creates the demand that retailers fill through ordering the brand the end-user wants.

It does no good if retailers buy your products, but they gather dust on the shelf because there’s no consumer demand – because you didn’t create any.

It does no good to compete on price point alone, because someone will always undercut you. Rock-bottom pricing isn’t always the basis of a consumer’s buying decision. Even Wal-Mart is positioning its brand as allowing consumers to “live better.” The mega-retailer is promoting the benefit of its low prices, not the feature of the prices themselves.

The end-user is your customer. So build brand equity by creating awareness and a sense of community among consumers. Talk to them on blogs and social media outlets, but don’t “sell.” Get them to talk to each other about your brand. Meet them at shows and events, and – if you can – sponsor shows and events. Make your Web site an engaging destination for consumers to learn more and communicate.

Worry less about competitors stealing your ideas and beating you to market and more about competitors stealing your market share because they’re better at talking to consumers than you are. It doesn’t matter if that’s the way things have always been done. Things are now being done differently.

CASE STUDY PRESENTATIONS

• Case Study: Deloitte Recruits Socially
• Case Study: IBM Emraces Social Media to Connect w/ Businesses
• Case Study: Dupont Goes Social with Viral Webvideo
• Case Study:Social Media Soars Among BtoB Marketers
• Case Study: PB Customer Forums Delivers Service Socialy
• Case Study: HubSpot Customer Generates Leads
• Social Media & the WSJ Digital Network
• Case Study: Intuit Elevates the Covo. w/ Small Bus
• Case Study:Microsoft Ignites & Manages Social Buzz
• Case study presentations may also be accessed through www.slideshare.net/bdionline