Presentation on theme: "WEB 2.0 AND B2B MARKETING Dr. Dawne Martin MKTG 241 November 15, 2012."— Presentation transcript:
WEB 2.0 AND B2B MARKETING Dr. Dawne Martin MKTG 241 November 15, 2012
Admin. Things/Learning Objectives Learning Objectives Understand the Cycle of Social Marketing Describe why relationships are so important to success and how Web 2.0 can develop customer relationships Understand the difference between push (outbound) vs. pull (inbound) marketing and why inbound is more effective Design an inbound program on a budget
Value Managed Relationships: The Key to Retention & Profitability R. Buchanan, C. Gilles, European Management Journal, The cost of acquisition occurs only at the beginning of the relationship, so the longer the relationship, the lower the amortized cost. Long term customers tend to be less inclined to switch and less price sensitive. Long term customers tend to initiate free word of mouth promotion & referrals Long term customers are more likely to buy up-grades and high margin supplemental products Regular customers tend to be less expensive to service
PUSH VS. PULL MARKETING Inbound Marketing: More Customers for Less Money Mike Volpe, HubSpot
For decades, marketing focused on pushing messages out.
1 Get Found 2 Convert 3 Analyze ( INBOUND ) MARKETING
12 86% skip TV ads 91% unsubscribe 200m Say DO NOT CALL 44% of direct mail is never opened
% Companies Acquiring Customers via Social Channels 57% 48% 57% 42%
VISITS PROSPECTS LEADS OPPS CUST WO. LEADS Measure each stage of your sales & marketing process.
Inbound Marketing on a Budget Peter VanRysdam, Marketing in a Web 2.0 World Make Your Website Truly Interactive Forums Polls and surveys Use landing pages to increase conversions from different user groups Getting Search Engines to Notice Your Site Use organic ranking – more effective than the Pay Per Click listings Understand how your customers search for you Identify “buy” words versus other stages in the buying decision process Searching for specific brands, models, etc. Identify inbound links to your site Fresh content leads to more frequent indexing, higher rankings
Blogging Set goals and focus your blog Free tools may not allow you to take advantage of all of the blog’s benefits Have a personality when blogging, readers want to hear from people, not a business Promote your blog through RSS, links from your site, anywhere you list your contact information Joining the Conversation Offer your network more than just coupons. Give them value through information about your industry as well as your services Be transparent. Buzz vs Deceit. Promote the positive and address the negative Set a plan to make sure that your networks are fresh and nothing said about your brand slips by you.
Building your network Grow your networks organically – connect to others looking for real connections Connect with people on your Rolodex, not just social networking sites Use Facebook features like “share” and “like” to keep your content top of mind and on the top of your customers’ pages Encourage everyone in your company to get involved in social networking, from top to bottom Establish yourself as a on-line expert People will listen to an industry expert over a sales person every time, take steps to increase your personal profile Use video to demo products, highlight customer case studies, or as a fun marketing or recruiting tool Webinars offer value to your prospects and clients, making users much more likely to attend them than a sales pitch. Avoid the hard sell. Recording your webinar gives you a resource for years to come
Get Started http://www.youtube.com/watch?v=gjnr31d7G_s Identify the audiences for your communication What are the audiences needs? What media could you use to communicate? Identify your communication goals Build relationship Build brand Drive sales Develop a plan to communicate and build community with your customers