Marketing Collateral Remains Critical (But Buyers' Preferences are Changing)

Earlier this month, Eccolo Media released its 2011 B2B Technology Collateral Survey Report. This survey focused on business buyers who had been involved in a recent purchase of business technology, and it was designed to measure the use and influence of five types of marketing collateral.

• Product brochures/data sheets
• White papers
• Customer case studies
• Podcasts/audio files
• Videos/multimedia files

This survey was limited to technology buyers, so the results may not reflect the attitudes and practices of all B2B buyers. On the other hand, it's probably fair to say that technology buyers as a group tend to be "early adopters" of new communications methods. Therefore, the findings of this survey may provide a good early indication of how other kinds of B2B buyers will use and value marketing collateral in the near future.  You can obtain a copy of the survey here, and I encourage you to review it.

The 2011 survey revealed a surprising shift in the consumption of some types of marketing collateral, so surprising that Eccolo Media conducted a follow-up survey to gain additional insights. (Note:  Eccolo Media has conducted this survey since 2008, so year-to-year comparisons can be made.) I'll describe the change in consumption patterns, but first here are some of the major survey findings.

• Product brochures/data sheets are the most widely consumed type of marketing collateral, followed (in order) by white papers, video/multimedia files, case studies, and podcasts/audio files.
• Marketing collateral continues to have a major influence on purchase decisions.  At least 61% of survey respondents said that all five types of collateral were "very" or "extremely" influential.
• White papers remain the most influential type of marketing collateral.

The surprise in the survey was a significant drop in the consumption of some types of marketing collateral. Compared to 2010, the consumption of customer case studies fell 17 percentage points, white papers declined 14 percentage points, and product brochures/data sheets decreased 11 percentage points.

These results do not mean that case studies, white papers, and product brochures are becoming less critical to effective marketing. The follow-up survey conducted by Eccolo Media addressed five additional types of marketing collateral - company Web pages, social media sites, blog posts, e-books, and presentations. It showed that buyers are using all of the "new" types of content to research business issues and learn about products and services.

So, what's happening is that companies are offering marketing content in a wider variety of formats, and buyers are taking advantage of the expanded options to consume content in the format they prefer.

The results of these surveys contain three important lessons for B2B marketers.

• Informative, valuable, and compelling marketing content is more critical than ever for successful B2B marketing.
• The number of content formats available to companies is increasing, and many of the newer formats are attractive to potential buyers.
• It's becoming important to deliver the same basic content message in a variety of content formats. For example, B2B buyers view white papers as highly influential because they present valuable information in a objective, non-promotional way. This type of information is still essential for marketing success, but it's now important to embody that information in Webinars/Webcasts, podcasts, and presentations, as well as in white papers.

A back-handed compliment to the power of marketing

Does Marketing serve existing consumer needs, or does it
create them?





Sooner or later, a version of this question inevitably pops up
when you’re trying to explain marketing to the general public.



One response to the question is to dismiss it with another:
why does it matter? As long as marketing
influences consumer behavior, should it matter whether it serves pre-existing
needs or

Print...extinct or existential?

In this day and age with the technology and advancement of web, email and social media we can reach thousands of viewers instantly with whatever digital venue we choose. We all know that you can have a campaign up and running instantly with literally with a click of a button and 1/4th of the budget.

This topic has been talked about alot in my tenure as a graphic professional so I am not digging up anything new. But the reality is - the print industry has changed. Am I saying that I think it is totally going away or that print is dying? Absolutely not... But just in the last 3-5 years I have seen a dramatic shift in print requests and direct mail campaigns.

Another strike against the print industry is the added concerns for the environment: recycling, chemical disposal and overall waste. Most printers do their best to meet eco-friendly guidelines but there is still the extra cost and work to comply with the "green" movement.

I am kind of bummed by all of this because I think print is still an effective and very creative vehicle for getting a message out. There is still something special about getting a really cool direct mail piece in your mailbox, or visiting a dealership and bringing home a glossy brochure of your favorite car. Who doesn't remember flipping through the Christmas toy catalog and bookmarking the things you dreamed to have. Even as a designer I find myself hoarding paper sample books because I think they are cool.

Look at the effectiveness of print this way:
How many emails do you trash not even looking at them because you consider it spam or junk mail or that don't even make it to your inbox due to spam filters? On the other hand... How many high quality printed snail mail pieces do you toss without giving them a once over to a least see the message or craftsmanship on their way to the trash? I know my answer to this...print is generally more effective in comparison.

Overall I think the internet is a tremendous tool, however, print is still much needed. A downloadable PDF isn't going to replace a beautiful brochure, printed on high quality paper (might cost less but not as effective). Consumer products still require packaging. Stores will always need point of sale displays. Retail still needs shopping bags, tags, and promotional items. Restaurants still need menus. Business cards, letterhead and envelopes remain necessary elements for every business. People still read textbooks and novels.

Bottom line: Print is here to stay (that is, until we find a way to market telepathically). Let us help you figure out how best to leverage both print and digital medias to maximize your message. Sometimes you need both, and other times one more than the other, but lets face reality, print is always going to be part of the equation.

Until next time,
Jeremy

The Power of 70 (A Social Media Case Study)

We are on day 38 of a client promotion focused on personalized debit cards (cards that use our own, personal photos).

The goal is to open new checking accounts by using these market-unique access tools as the differentiator.

The campaign was divided into 3 phases.

PHASE 1: Awareness & Acquisition

We promote the debit card through TV, web banners and direct mail.  The foundation of the promotion is a photo contest where each credit union member who opens a photo debit card has the option to add that photo into the contest. 

The call to action for all media is a unique URL where they can create their personalized photo card and begin the account opening process online.

PHASE 2: Voting & Social Media

We end all external media during a 2 week voting period.  We use the same unique URL as Phase 1, but add the voting element.  Of course, members and potential members can still create their own card and begin the account opening process – they just cannot enter into the contest.

During this time, we use email and Facebook to promote the voting.  The key is to provide tools for the contestants to push the message to their social circle to encourage voting for their photo.

PHASE 3: Announce Winner & Continued Awareness

We restart the TV campaign with a new ad featuring the winner’s photo and promoting the unique aspect of the photo debit card.

RESULTS

Phase 1

We experienced a spike on the first day of the media campaign with more than 100 absolutely unique visitors on day 1.  The first week, the daily unique visitors leveled off to about 40-50 per day.  Week two, it lowered to 10-20 unique visitors per day.  

We then launched the direct mail and sent another email to members to re-energize response and saw another one-day spike of more than 400 unique visitors (a 400% increase over our best day of TV).  Again, we leveled out to about 50 visitors per day during the last few days of Phase 1. 

The broad-based media had an immediate impact but leveled out and began to decline in 2 weeks.  The targeted effort of direct mail had a more impactful one-day result, but also quickly leveled off.

Phase 2

Here’s where things get interesting!  Where the client averaged only 8 photo debit cards per month, we generated 70 photo card contestants in 4 weeks (we are still waiting on actual new checking and new member numbers – the true test of success).

From the first day that the voting opened and from the first email to our 70 contestants, encouraging them to promote the voting – we saw an immediate and sustained jump to about 500 absolutely unique visitors per day.  Higher than either of our prior one-day spikes for TV or direct mail!  We are in our 7^th straight day with these sustained results.

THE LESSON

Social media is a powerful tool, but it does not work in a vacuum.  The success of the social media was built on 4 weeks of steady exposure in traditional media.

The social media aspect of this campaign is working because the target is motivated by a prize to push the credit union’s message.  But if 70 contestants can generate about 3,500 unique visitors to a site in just 7 days, without a penny spent on external media … imagine the impact of a sustained social media program, as part of a full on-going marketing effort, where you are offering valuable information, an occasional contest and random product specials.  

As you create your plan for 2012, it's important to consider how social media can help to strengthen your overall results when included the the rest of your media mix.

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Learn more here.

Or contact me directly.

Rebranding the Traditional Box Office

In a previous post entitled Subscriptions Dead? Maybe Not, I discussed various strategies Arena Stage employed in order to significantly increase its subscriber base. One of the most important was systematically identifying the best subscriber leads in our database, and then developing and implementing strategies to increase the number of similar leads.

Like many others, we traded lists with other performing arts organizations during the acquisition portion of our subscription campaign. However, in doing so, we experienced an incredibly high cost-of-sale for each new subscriber. Even when factoring in the value of each new subscriber over multiple years, returns from mailings to traded lists didn't justify the cost. Our strategy was flawed, and it was time for a change.

Data showed that our best leads were in our own database, with the best of the best being single ticket buyers who purchased tickets to multiple productions during the previous fiscal year. Instead of trying to attract new subscribers with no prior transactional history with us by sending direct mail campaigns to traded lists, we shifted strategy by focusing on building multi-buyers during the 2008-09 season. The new strategy was simple--if multi-buyers were the best prospects for subscriber acquisition campaigns, then the more multi-buyers we had, the better off we were for the following year's subscription campaign.

Instead of trading lists for subscription mailings, we traded lists for our most popular productions. Transactional data showed that by luring in new patrons via our most popular programming, we had a much better shot of cross-selling them into other productions soon after they had their first great experience at our theater. If new patrons purchased tickets to just one additional production during the season, they were exponentially more likely to subscribe than a lead with no prior transactional history with us.

Our focus was now clear--in order to grow our subscriber base, we must first focus on building the number of multi-buyers throughout the year. And the most critical component of that strategy was refocusing our ticket sales operations by shifting our box office to a sales office.

The prevailing feeling at the time was that our box office associates were "order takers." They were expected to pick up the phone and process each order in a courteous and timely fashion. They were evaluated on efficiency instead of effectiveness. With the beginning of the 2008-09 season, we rebranded our box office (now referred to as a sales office), and made it clear that associates were expected to function as sales consultants. They were now responsible for up-selling, cross-selling and proactively soliciting annual fund donations. To prepare the office, I promoted an exceptionally entrepreneurial minded manager to lead the division, and she in turn, brought in several experts to train our staff. We adopted a mantra of sales through service, and in doing so, viewed each opportunity to cross-sell as a moment to provide excellent customer service.

Three years later, I am very pleased with our results:

From FY08 to FY11, new-to-file households (those that had no previous transactional history with Arena Stage) increased by 90%, but even more importantly, multi-buyer households increased by 44%, giving us a much larger "best prospects" pool for new subscribers. In this fiscal year alone, that pool was converted into more than 5,100 new subscribers. Despite what some viewed as aggressive sales techniques, our 2011 customer satisfaction survey revealed that satisfaction levels were at an all-time high, and our attrition rate decreased 6% over the last two years.

Today, our sales associates up-sell seat locations, cross-sell buyers into similar programming, solicit various levels of annual fund donations, offer to make reservations at our cafe, suggest pre-paid parking, and will even arrange for a car service with a preferred provider. In addition, during slower sales cycles, our associates also provide support to our group sales office, and participate in outbound calling. By doing so, we maximize revenue, while growing the number of multi-buyer households and providing premium concierge service to all patrons.

Trick or treat?

This is a guest post by John Bradley. John spent 24 years spreading happiness
and tooth decay in marketing with Cadbury before switching careers into writing. He is currently working on his third book.










You’d think Halloween is a treat for candy
makers. But it’s more like Nightmare on Elm Street that is played out for
manufacturers and retailers in the Halloween loot bags being

Something for Everyone

Recently my wife and I took a trip to Las Vegas. I had been there before for business but never really had time to do any sight seeing. So we did all there was to do and saw pretty much everything there was to see. The thing that still has me baffled the most (besides the missing money in my wallet) was the decor. I was utterly amazed that every bar, restaurant, shop and casino that we visited, looked completely different from each other. I never once saw a place that looked like another place. The building materials, colors, and over all themes were totally unique in each venue. That town must be an interior designers/architects dream.












If you never went outside...you would think you've been transported to some of the most exotic places on earth (as opposed to the middle of the desert). As a fantasy land for all walks of life, there is absolutely something for everyone. It is definitely a beautiful and inspiring place. I filled my brain with lots of ideas and got a refreshing look at color schemes, shapes and styles. "Las Vegas...to you and your gleaming bright lights, and shiny marble floors...I salute you." (even though you left me with no money).

Until next time,
Jeremy

Building the Business Case for Marketing Asset Management

Even if you're certain that a marketing asset management solution would be beneficial for your company, you'll still be required to justify the investment to your senior management team.  Today's business decision makers are more skeptical and frugal than ever. They are demanding that any investments they make produce positive, measurable results on the bottom line - and the faster the better. An investment in a proposed MAM solution will be viewed no differently.

To get the go-ahead for a marketing asset management solution, you'll need to present your senior leaders a business case that demonstrates the value of the solution in clear and convincing terms.

A well-prepared business case for a marketing asset management solution will contain five components.

• A description of the problems, issues or challenges that create the need for an MAM solution
• A description of the proposed MAM solution
• The expected financial results of acquiring and implementing the proposed solution
• A discussion of the non-financial benefits the proposed solution will produce
• A discussion of the risks associated with the proposed solution and the risks of not acquiring the MAM solution

All of these components are important, but the focal point of a business case is the financial analysis. This is where you will calculate the estimated ROI, net present value, and payback period for the proposed MAM solution.  Both the ROI and the net present value calculations require you to input the value of the MAM solution.  Therefore, one key to building a persuasive MAM business case is to develop a credible estimate of that value.

Like any business product or service, a marketing asset management solution creates value by enabling a company to reduce existing costs, avoid future costs, or increase revenues.  To estimate the value of your proposed solution, you'll need to analyze the two major types of benefits that MAM solutions typically provide. One group of benefits includes those that improve the efficiency of the marketing materials supply chain. These benefits create value primarily by enabling you to reduce or avoid costs. The second group of benefits include those that improve the effectiveness of your marketing efforts. These benefits create value primarily by enabling you to increase revenues.

I've just released a new white paper that describes these benefits in greater detail and explains how to calculate their value when building business case for marketing asset management.  If you'd like to review the new paper, send an e-mail to ddodd(at)pointbalance(dot)com.

Who Dey...

In case you are unfamiliar with the phrase "Who Dey"....it is for the Cincinnati Bengals!!

I am a true fan...hard to say, I admit! But a fan nonetheless!  Typically our best part of the season is pre-season.  We have been involved in two Super Bowls-- losing both in exciting fashion.

My post today talks about the pending trade of our former "franchise" quarterback to the Oakland Raiders for several 1st round picks and a starting linebacker.

The story is not really about the actual trade...but the implications of "why" the trade is necessary and what is means for your institution.

First, Carson Palmer was tired of losing...so he said, "trade me or I will retire."  He retired.  The Bengals drafted a rookie quarterback, Andy Dalton, is the 2011 draft...and he has been tremendous.  Many fans were worried that if we let our old quarterback go that the young quarterback just wouldn't be able to deliver.  He has.

So now the transition to my point...most of the banks and credit unions have an aging customer base and are hesitant to truly reach out to the Gen Y group with any sort of gusto.  We have a fear that our current customers won't "get" our messaging or that the young customers "just won't be profitable."  We HAVE the make the move... just like the Bengals that faced an agonizing decision.  For the benefit of your organization and for the future of your deposit and loan generation, you have to begin the transition.  Now, I am not advocating a "trade" of customer for customer...but certainly a most focused approach to reaching out to the Gen Y group.  We have to go where they go...which is not necessarily the branches...and use the tools they use...social media and referral networks.  Here are four steps to take:

1. Segment your customer and marketplace into demographic and psychographic groups
2. Segment your messaged to match the groups
3. Be even more dimensional in your marketing strategy (and then your advertising, too)
4. Embrace the changes and focus on retaining your current customers while onboarding and welcoming your new customers

The transition will be bumpy and you may have questions along the way.  However, you will be better off in the long-run and the short-run may also bring unanticipated benefits!!

Need help?  We can show you the ropes and help manage the process...you have an expert in your corner with MarketMatch!

Cheers!

Bruce

"So What?!?!"

Everybody has a story … very FEW are worthy of being told.

As the great storyteller of your institution, what is your story? How is it different? Compelling? Exciting? Story-worthy.

I'm a storyteller myself, and I believe that it’s our job to ask, “So what?” When you see a billboard or a web banner … a Super Bowl ad or hear a spot on NPR … and ESPECIALLY the work that comes out of your office! What is the story? Is it worth telling?

You should be able to see the strategy in every marketing touch point. Are you trying to create trial? Increase awareness? Regardless of the message, you should be trying to differentiate. Tell why someone should drive by 3 banks and 2 credit unions to get to your branch.

Consider your story. If you weren’t telling it, would it be worth listening to?

Take care,

Eric

Fair Trade?

Hardly a week goes by without yet another milestone for “ethically
labeled” products. You know, the products that are labeled “Fair Trade,” “Organic,”
“Green,” and so on.


Here’s a recent report, for example, that says that 10,000
products are now sold with a Fair Trade certification in the U.S., and that
sales of such products are up 63% in the last QUARTER! In markets such as the
United

When Content Marketing Really Matters

Content marketing has become an essential marketing tactic for many B2B companies. According to research by Junta42 and MarketingProfs, nine out of ten B2B companies now market with content.

Content marketing is the practice of providing valuable and primarily non-promotional information to potential buyers for the purpose of persuading them to begin or continue a relationship with your company. The basic idea of content marketing is to provide information that will demonstrate your company's expertise and create or nurture the perception that your company would be a knowledgeable, capable, and reliable business partner.

Most marketing thought leaders agree that effective marketing content is critical for B2B marketing success.  Marketing content provides the fuel for lead generation and lead nurturing programs, it is a critical component of a company's website, and it plays a central role in social media marketing efforts.

All B2B companies can benefit to some extent from using content marketing, but it is more critical for some kinds of companies than others.  There are six circumstances that make content marketing particularly important and highly valuable.

• When the product or service you provide is complex (technologically or otherwise), or when the product or service addresses a complex business problem, issue, or challenge.
• When purchasing your product or service requires a substantial financial investment by the buyer.
• When the buyer must rely on your expertise to achieve success with your product or service.
• When the purchase and use of your product or service requires the buyer to make significant changes in its business processes.
• When the purchase of your product or service requires (formally or practically) a long-term commitment by the buyer.
• When the product or service you offer is not purchased frequently, and potential buyers have little or no experience with the type of product or service you provide.

The connection between content marketing and the first circumstance is obvious. When potential buyers are trying to address a complex problem or challenge or evaluate a complex product or service, they need a lot of information to help them understand the ramifications of the problem or challenge, how the product or service works, and what benefits the product or service will provide.  Content marketing is the most effective way to provide prospects the needed information.

The other five circumstances all relate to the buyer's perception of risk. We now know that fear is the most powerful emotion at work in the B2B buying process.  Business buyers can be extremely risk averse, and they aren't likely to move forward with a purchase until the perceived risks have been eliminated or reduced to an acceptable level.  Content marketing is a highly effective tool for mitigating the risks perceived by your potential buyers.  For example:

• White papers, articles, and webinars can be used to demonstrate that your company understands the issues and problems your buyers are facing and knows how those issues or problems can be successfully addressed.
• Customer case studies can be used to show how similar businesses have used your product or service to solve difficult problems and/or reach significant business objectives.
• Value justification tools and ROI calculators can be used to quantify and prove the value of your product or service.

If some or all of these six circumstances apply to your company and your marketing and sales environment, content marketing should be at the core of your marketing efforts.

BRICs: the sub-plot thickens

The dominant story that jumps out when you examine global
trade data for the past decade, or even two, is the one everybody knows about:
the almost vertical rise of China as an export and import powerhouse.


But there
is a sub-plot that gets less attention: the rise of BRIC to BRIC trade. This is
the fastest growing part of global trade. It challenges many of the assumptions
on which

Turning Oops into Opportunity

After a hailstorm, I had my roof replaced a few weeks ago and it could easily have been a tale of two experiences.

During the replacement, the workers dropped a large roll of roofing paper onto my deck - shattering a portion of my handrail.

When the job was complete, they had used a metal valley (the seam between to roof lines) that we did not previously have ñ and that my wife hated!

Shortly after the roofers left, I mowed the lawn and ended up with a flat tire on my rider thanks to a roofing nail.

And with all that said - I would highly recommend my roofing company to anyone.

Surprised?

The rest of the story is that they:

• Rebuilt a new handrail to match the destroyed one on the next day
• Replaced the metal valleys with a more aesthetically pleasing treatment within a week
• Took $100 off the roofing cost to replace my flat tire

The unfortunate reality is that accidents happen ... statements can be wrong ... debit cards can mail late ... tellers can miscount bills.

The important thing is to proactively turn these "oops" moments into opportunity. Make the situation right ... by any means necessary ... and then some if possible.

4 Simple Rules

1. Employees cannot be afraid to call mistakes to management attention as soon as they are discovered.
2. All staff must feel empowered to correct an issue as quickly as possible (parameters can be set for significantly costly issues ñ but common sense should dictate what needs to be done here).
3. "I'm sorry" are very powerful words!
4. Give a little extra for the inconvenience.

By doing what is right, you can turn possible tragedy into a referral opportunity.

Take care,

Eric

How to Maximize and Monetize Your Friends, Followers, Fans & Customers

Precision Marketing ezine issue 10/04/11

Today's issue features some useful and practical excerpts from my new, best-selling book, Content Is Cash: Find out how to convert your 'Triple F's' to help grow your business as well as discover what to do to 'know your list' better. Also, learn the trick to getting high-performing, lost cost print ads and how to understand the customer life cycle for maximum results to your bottom line.

Yours for success and profits,
Wendy Montes de Oca, MBA
~President, Precision Marketing and Media, LLC.
~Publisher, Precision Marketing eNewsletter
~Author, Content Is Cash: Leveraging Great Content and the Web for Increased Traffic, Sales, Leads and Buzz [Que Publishing, 2011, Paperback]
~Blogger, MuscleMarketing.Blogspot.com

***************

Quick Power Tip: How To Get A Cost Effective Print Ad

This channel often gets a raw deal. One reason is because it's typically a costly platform.

To place an ad in a high-circulation magazine or newspaper, you could shell out serious money. But you don't need a big budget to take advantage of print ads. If you don't have deep pockets, consider highly targeted newspapers and periodicals in specific geographic locations.

For example, let's say you're selling an investment product or service. Before taking out a print ad in a large scale magazine or publication, such as Forbes, Money, Wall Street Journal, or similar, begin your search on the Web.

This is something I've done many times before and it not only worked wonderfully, but it brought in highly qualified leads. The following is an example for a specific niche. Your search queires may be different, but this gives you a solid idea how to approach this task.

First: Search the Internet by a targeted query albeit niche, geographic location or similar. In my case, I searched for the wealthiest cities in America.

Second: Several lists came up. I picked the top 20 and then did a second search for local newspapers within those communities (cities). These smaller newspapers hit my target audience (wealthiest cities) and had a decent circulation size. Even better, because these were local papers, the ad rates were much than some of the larger, broad-circulation publications. Bottom line - you end up getting quality rather than quantity.

Third: Email each paper asking for print ad rates, paid and free circulation, ad size and location. Put all your information into a spreadsheet then send your ad to the top 5 papers based on price and coverage.

I once paid for an ad in a local newspaper in Aspen, CO and Rancho Cucamonga, CA - two highly affluent areas - each with flat rates of less than $500. Both ads brought in tens of thousands of dollars in client revenues. My ROI turned out to be much more than 1,000%. This is a great, cost-effective way to drill down to your target audience, test out new creatives, and save money all while you're getting your feet wet with print ads.


Converting Your Triple F's: Friends, Followers and Fans

I recommend that you make a special conversion effort to encourage social media followers to give you their email addresses with you (as mentioned in my last issue, having an email address opens up the line of direct communication and list building) -or, as we say, opt in to receive your marketing messages. This typically involves creating strong promotional copy, which is sliced and diced and then used for social media posts and updates.

This promotional copy drives followers to a lead-generation landing page (or squeeze page), where the goal is to capture the email address of the friend, follower, or fan.
The offer should be something that will resonate with your follower, such as a useful freebie-perhaps a bonus report, e-zine subscription, audio download, bonus video, webinar, or teleseminar.

Ideally, this is something that has a perceived value and is immediate and relevant.
You run the campaign for a two-week period at a time, mixing your conversion messages with your regular, organic daily tweets or Facebook status updates. Then you monitor email sign-ups and website traffic (via Google Analytics), to ensure list growth and traffic source referrals. Aside from captivating copy, many variables come into play to make sure the effort is successful.

These include making sure email collection boxes are at the top, middle, and bottom of the lead-generation landing page being used. There should also be links to your privacy policy and an assurance statement alleviating any concern about email addresses being rented or sold to third parties.

It's also critical to clearly disclose before users submit their email address that opting in to receive your freebie also gives them a complimentary subscription to your e-newsletter (if applicable), along with special messages and offers from time-to-time.

Finally, you should follow up with a series of autoresponder (targeted messages) emails welcoming the new subscriber, offering strong editorial content and special offers. These emails facilitate bonding; validates that the correct email was given; ensures that the user is aware of the sign-up; and helps reduce false "do not mail" reports, email bounces, and general attrition.

Maximize Your Customer Life Cycle For Better Life Time Value (LTV) and Conversions

One of the most profound business books I ever read was Permission Marketing by Seth Godin.
The ideas in the book were very innovative at the time. The Internet and e-mail marketing were still young, and, like the Wild Wild West, most marketers and business owners were still trying to "wrangle it in" and figure out how to leverage the Web's possibilities... and, more important, turn those possibilities into profits.

In a nutshell, the book explained "how to turn strangers into friends and friends into customers." The principle behind this is to first understand the difference between cold (or interruption) marketing - like those annoying phone calls you always seem to get during dinner asking you to subscribe to the local newspaper... and permission marketing - where the prospect is actually giving you permission to contact them by "opting in" to receive your messages.

To help you get the most out of your Internet marketing, I have expanded on Mr. Godin's "stranger/friend/customer" concept and added two key components: multi-buyer and advocate. And I'll show you how you can leverage each of these segments to help grow your business.

Leveraging Your Customers Throughout Their Entire Life Cycle
You may think that a customer is someone who buys from you - period. But that's a very limited view. From the instant you "meet" your customer... until he's become a VIP buyer who's spent hundreds or thousands of dollars with your company... you should be interacting with him in different ways. Treating him properly every step of the way will create a true win/win situation. Your customer will continue to enjoy satisfying experiences with your company, and your company will enjoy the positive effect this relationship will have on its bottom line.

Here are the five stages a customer can go through during his life cycle, and how you can make the most of each one...

Stage 1: Stranger
The stranger or "prospect" doesn't know you. Your job is to get her attention. You have only a few seconds to get her to react - whether it's by asking her to click on your ad or open your e-mail message. Which means that your copy for the ad headline or e-mail subject line is critical.

Once you've captured her attention, your #1 goal is to have this stranger "opt in" to receive your messages, giving you a chance to continue to bond with her. This is also the time to start to build trust. Show your creditability. And explain what you can do for her (fill a desire, answer a need).

Stage 2: Friend
The friend has demonstrated an interest in your initial promotion and has opted in to receive more information from you. This gives you an outstanding opportunity to introduce him to your philosophy, your company, and your mission, and to re-enforce how you can help him.

During this stage, it's best to send a series of introduction e-mails (anywhere from 5 to 7) and withhold your new friends from your general mailing list. You don't want them (the newest names on your list) to start receiving promotional messages BEFORE they receive some of your editorial messages.

For most of my clients, I recommend sending introductory e-mails to new subscribers. Each e-mail is a special issue that's composed of articles that present the publication/gurus core philosophies. This gives new subscribers a chance to "warm up" to expert contributors, the format of the enewsletter, and the topics typically addressed. Only after they are warmed up do they go into 'general population' - that is, I start sending them editorial and promotional emails as usual.

Stage 3: Customer/Client
The customer (or client) is someone who has bought into your philosophy and purchased a product (or service) from you.

Many companies make the mistake of ending the customer relationship at this point. But after reading this article, you'll know better... you'll know that getting the customer is only the beginning. Keeping him is another story.

You don't want to put all your eggs into one acquisition basket while having few or no retention efforts. Good retention strategies entail ongoing communication (both promotional and editorial), outstanding customer service, quality products, and fulfilling your promises. Of course there will always be things outside of your control (like losing customers to market conditions). But the idea is to be proactive and not reactive. Keep the "80/20 rule" in mind - which states that 80 percent of your sales come from 20 percent of your customers.

Stage 4: Multi-Buyer
The multi-buyer is a customer who is tied into your brand and demonstrates product loyalty with your company. Multi-buyers have purchased several products from you, and are not afraid to spend money. These folks are your best list to roll out new products to or test higher price points. If you are thinking about creating a "VIP" or "Lifetime" product, you're going to want to advertise to this list. Multi-buyers will have a high lifetime value (LTV) for you, and will likely purchase cross-channel. In other words, they will buy from you no matter how you contact them - whether via banner ads, e-mail marketing, direct mail, or telemarketing.

Stage 5: Advocate
This segment of your customer database is your holy grail. Your list of advocates is made up of the most satisfied and loyal of your customers - and contains your best "unpaid" employees. Advocates will do your advertising for you by telling friends, family, colleagues, and acquaintances about your products and services. And in today's Net-based environment, advocates are a major force in getting your name in the blogosphere and social communities... and spreading your marketing message virally.

So how do you create advocates? Well, advocates are not created, they're cultivated over time. The advocate must, of course, believe in your products and services. But for this special group, the customer experience goes deeper... to an emotional level. The advocate feels personally touched by your service, product, or guru. Because of you, her life is changed - and she's busting at the seams to help others as she has been helped.

Your advocates are people you want testimonials from. People you can invite to be in BETA test or focus groups. And people to get feedback from to help develop future products. Even better, this group can help you make more money in the future. For my clients, some of the best JV (joint venture) partnerships have been with advocates - people who understand the core values, respect the business, and have a company or product that is synergistic to my clients.

You want to treat these folks like the VIPs they are and invite them to special events or let them be the first to receive discounted offers. You may even consider creating affiliate marketing or referral programs to "formalize" this group's verbal recommendations.

Always keep in mind that the effort does not stop at the sale. Since it costs more to obtain new leads than to retain existing customers - now, more than ever - you have to know how to optimize the five stages of the customer life cycle.

Know Your List!

The most important rule in publishing is to know your list, your audience, or your subscribers. Knowing your current readers (customers) also helps you find new, targeted prospects.

If you haven't done so, I strongly recommend that you conduct at least one subscriber
survey per year (most of my clients conduct two per year-one at the midpoint and one at the end of the year).

This survey should include demographic, geographic, and physiographic questions. Find out who your subscribers are, what other newsletters they're reading, what their interests are, and things they like and dislike.

The more you know about your audience, the easier it will be for you to write useful and relevant information. Knowing who makes up your list and gearing specific content for your audience will get your articles read and passed around to likeminded readers.

You can use the data in your survey to create a subscriber profile both editorial and marketing staff with critical information about who an ideal subscriber is. If you understand your ideal subscriber, you'll understand your target prospect.

This information is invaluable for acquisition and retention efforts, so make it readily available to key staff members for easy reference. It's a constant reminder of who you're writing for and who you'd like to add to your database. In addition to its editorial and marketing uses, this information can help with media buying, joint venture opportunities, and creative and product development.

'Content Is Cash': #1 Web Marketing Best-Seller on Amazon

September 26 was a memorable day for me as an author. Content Is Cash hit #1 best-seller on Amazon for Internet marketing with it's Kindle version and simultaneously hit #4 in the same category for the paperback version.

In addition, the book was ranked 1,806 out of over 8,000,000 books on Amazon as well as #13 best-seller in the broad 'Business and Culture' category.

I was nearly doing back flips when I saw the stats in Amazon's Author Central area and even took a screen shot for posterity and posted it to my Facebook page.

It means so much to me that the public has embraced the book and it's resonated with so many marketers, entrepreneurs and business owners. Consumer reviews have been simply amazing.

No doubt the pre-launch buzz from industry legends such as Michael Masterson, Bob Bly, Martin Weiss, MaryEllen Tribby, and many others who have all praised the book helped set the tone.

And on top of that, the book was also featured by Newsmax.com, Amazon.com, and Target Marketing magazine as recommended reading for business and marketing enthusiasts.

If you're looking to grow your business using FREE, proven and high-performing organic marketing methods, then you gotta check this book out. Amazon has several chapters online to peruse.

The SONAR Content Distribution Model featured in Content Is Cash will work for virtually any size company, in any niche and with any budget.

The book is available on Kindle and Paperback at Amazon.com, read more at http://www.amazon.com/Content-Cash-Leveraging-Increased-Biz-Tech/dp/0789741083

The book is also available in ebook and special bundle packages by the Publisher, read more at http://www.quepublishing.com/store/product.aspx?isbn=0789741083.

Happy reading!

How Content Marketing Accelerates the Buying Process

Today's business decision makers are more skeptical, more frugal, and more easily distracted than ever. As a result, it's harder to create engagement with potential buyers, sales cycles are longer, and sales opportunities that once appeared solid can unexpectedly fall off the tracks.

Overcoming these challenges is not easy, but the starting point is to recognize that the single most important job of marketing and sales is to remove friction from the buying process.

In military science, friction is the term that's used to describe anything that can get in the way of the perfect execution of a military operation.  Therefore, friction includes things like the effects of weather on soldiers and equipment, soldier fatigue, misinterpretation of orders, equipment breakdowns, and unexpected enemy actions.  Because of friction, no military operation goes exactly according to plan, even though commanders try very hard to anticipate where and how friction will arise and to devise ways to minimize its effects.

In B2B marketing and sales, friction is anything that slows down or stops a potential buyer's progression through the buying process.  The friction gremlins live everywhere in the buying process.  Friction can (and usually does) pop up at every stage of the process, and many of the causes are beyond your control.  For example, any of the following unforeseeable and uncontrollable events can delay or stall the buying process.

• A change in the prospect's business condition
• A change in the make-up of the prospect's senior management team
• A change in the prospect's business strategy
• The illness of a key decision maker

While it's not possible to anticipate or eliminate all of the friction from the buying process, you can substantially reduce it.  Many major causes of friction are related to information.  To keep moving through the buying process, potential buyers need the right information at the right time.  When they don't get that information, the buying process can stall.  For example, a potential buyer's progression through the buying process can be slowed or stopped if he or she:

• Doesn't understand or appreciate the costs or negative ramifications of the status quo
• Doesn't know or fully understand how the status quo can be changed or improved
• Perceives that the proposed purchase will involve substantial risks
• Doesn't have an accurate picture of the ROI that the proposed product, service, or solution will generate

All of these issues can usually be resolved with appropriate and persuasive information.

Both marketing and sales are responsible for reducing friction in the buying process, but marketing's share of the job has grown significantly because of changes in buying behavior.  Today's business buyers are performing more research on their own, and they are postponing conversations with sales reps until later in the buying process. In a recent survey by DemandGen Report, 77% of B2B buyers said they did not engage with a sales rep until after internal research was conducted, and 36% of buyers said they didn't engage with a salesperson until after a preferred list of vendors was established.

With potential buyers avoiding and/or delaying interactions with salespeople, marketing content must be the primary tool for eliminating friction from the buying process. In fact, marketing content is often the only effective tool for dealing with the friction that arises in the early stages of the process.

Today, many marketing and sales "gurus" are offering a variety of techniques that promise to accelerate the buying process.  My take is that it is rarely possible to push prospects through the buying process any faster than they are willing to move.  The best way, therefore, to accelerate the buying cycle is to use relevant and compelling content to eliminate or reduce the friction that slows prospects down.

Brand network effects

You’re familiar with network effects. You know, the idea that if you had the only telephone on the planet it would be as useful as an inflatable dartboard. 



Conversely, the more phones there are on the planet, the more each phone becomes valuable – now you can actually call someone.



The idea is extended to software: the reason the world uses Windows is not because it is the best