Seven Digital Truths for Content Marketers

For this week’s blog post, long time colleague, friend and content marketing expert, Rachel Medanic, is back again to help our readers overcome the challenges of delivering on a robust and engaging content marketing plan for 2013.  Rachel has been a marketing pro for over 15 years and is currently is a Client Services Manager for PublishThis.

So you’ve started down the path of content marketing and tackled some of the low hanging fruit but are now experiencing an idea shortfall. Where do you turn to re-ignite your efforts? First, get perspective. Content Marketing Institute, MarketingProfs and Brightcove recently teamed up to produce some data driven insights now published in the 2013 B2B Content Marketing Benchmarks, Budgets and Trends – North America report. You are not alone:  volume, variety and quality of content are key areas where B2B marketers struggle. 64% say they can’t produce enough content, 52% struggle to create engaging content and 45% say maintaining variety is also a key challenge.

In October, I shared how marketers in every industry (B2C and B2B both) are being affected by the sharp rise in content marketing as a practice. Companies are becoming publishers to more effectively engage audiences. Here are some insights and observations to get you back on the idea generating track.

#1 Individuals are the content consumption baseline. Jeff Dachis, recently wrote for Ad Age, “You don’t build brands at people, you build brands with them.” People are savvy enough now to be offended by push marketing. Growing up in the 70s, the brands I recall that were pushed at me included things like print ads for vodka and Joe Camel cigarettes. Brands were most certainly being built at me, not for me. B2B marketers should focus on the similarities they share with B2C marketers because ultimately, relationships are built with individual people. And those people have the same content expectations that B2C target audiences do. Business audiences may rank content that informs higher, but “edutainment” (educational/informational/entertaining content) is definitely a way in.

#2 Whenever an online conversation is started, marketers—especially in small or mid-size companies—are now often responsible for responding. Marketing used to be built on the premise of content interrupting the target customer. But your target customer now has the power to interrupt your business with their voice. Should marketing really be responsible for answering? The job role lines have blurred over time, but what is clear is that whoever answers should engage the customer wherever they are (e.g. Twitter, Facebook, or some other online community). Provide a public, professional response in a reasonable time.

#3 Make your content an opportunity for customers and business partners to co-create something great. This summer, I participated in a flash mob with a local dance studio where I take classes. The event created something fun we could all engage around, escalated our brand loyalty to the business and built our sense of community. Leading up to the day of the mob, all the instructors integrated learning the choreography into their classes so that on mob day we became part of a surprise experience at one of the city’s biggest farmer’s markets. How can you create the digital equivalent of a “flash mob” for your business? Who can you get involved? Make sure everyone has skin in the game—figuratively speaking.

#4 Content should be free. SAP’s Michael Brenner articulates an important reminder for marketers, “Content is currency — something we trade for our audience’s attention. That currency becomes more valuable every time it’s shared by someone other than ourselves.” If your business is providing content such as online education, find a way to offer some of it for free to entice the buyer—and make it shareable. Curb your pay walls and over-eager newsletter sign up splash screens. Trying to force a relationship can turn your audience away forever. If your audience feels your content is valuable, they will share it. They may even pay for it if they can’t get it anywhere else.

#5 Your content may be helping your audience make sense of their world. Big brands are turning to publishing and the technology for every company to become a publisher is definitely available. So why not watch what publishers themselves are doing? The New York Times (among many others) are using social sign-on to foster new dimensions of engagement on their web site. I can see the articles my Facebook friends have recently read and from this I learn more about my particular friend’s (name obscured in this visual) enthusiasm for this publisher (plus I’m also encouraged to go read what he or she read—one article closer to the 10 free articles per month pay wall). Facebook social sign-on has led the way in B2C. For B2B, Linkedin can be a great way to gather community around your content. If you don’t have your own online community, Linkedin Groups can be an excellent channel. Brainrider.com has a nice article on how to use Linkedin for your brand.

#6 Your content can be delightful! The famous DollarShaveClub.com example came to me through one of my favorite bloggers Rohit Bhargava. Have a laugh once, but then go back through and see how you’d re-script and adapt it to the essence of your own industry. What business pain points (no pun intended) can you “set the record straight” on? I’ll use  the hypothetical of a management consulting services as a challenging example. Is there a tongue-in-cheek video about some hypothetical C-suite leader who desperately needs your services? You can be creative and gentle. Your industry might be mired in stodigy content. If you’re willing to take the risk, the rewards for a fresh perspective can be great.

 

#7 Measure everything you possibly can. The number of shares, Likes, and Tweets, in addition to dwell time, return visits and clicks through to additional pages on your web site are good indicators of content engagement. Onlinebehavior.com has a video and writeup to get you thinking creatively about aspects of content marketing that you can actually measure.

#8 Beware the unintended! Usually I’m very receptive to companies creating content around adjacent customer interests. That’s exactly what 76 did. In my case, it had mixed results. I may not have been the target demographic. While fueling up recently at one of their gas stations, a sign advertising the latest in a series of mobile apps called “The Quiet Game” was above the pump. The game was positioned as ideal for my children to use in the car—because I have ears. “We’re on the driver’s side” read the tagline. All at once it struck me as weird, devious, and yet well-crafted content marketing.

The persona 76 constructed about my “driving life’s” adjacent problems (beyond needing gas), assumed I had a smart phone, kids and a need for silence—respite from mobile games in the car. So they created a silent app to replace what they assumed my kids were already using. What they got wrong is this:  my kid isn’t glued to a mobile device while in the car. For parents of whatever age children 76 is targeting, I still can’t decide if 76 is inadvertently insulting its target customer’s parenting skills by implying that their kids are glued to noisy games while in the car. I personally can’t overcome my hesitation to download an app from a gasoline company.

There are many more resources out there about how to do content marketing well. Here are some particularly good resources:

May great content be with you!

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Sell Your Prospects by PowerPoint Slide 7: How to Create a Truly Powerful Sales Presentation

In this blog post, Susan Knorr, AgileValue Principal with over 20 years of experience in executive sales and marketing management, discusses PowerPoint sales presentation best practices and how to create a sales pitch that makes the most of that coveted one hour introductory meeting with prospective customers.

If your company relies on direct sales, indirect sales, conferences, events or webinars, chances are that PowerPoint presentations are still one of your go-to sales tools.  And yet for many prospects and customers, the very thought of sitting through another PowerPoint makes them cringe.  It’s even been dubbed “death by PowerPoint.”  The typical reasons come to mind; it’s too long; it’s boring; it’s not relevant.  Essentially, you didn’t even discuss how you can solve their problem until 45 minutes into the “sales pitch.”

More importantly, time is your only asset during a customer interaction.  Most customers will not provide more than one hour for an initial meeting.  And that hour had better not be completely consumed by the presentation and vendor doing all the talking.  If you don’t leave up to 30 minutes for the customer to talk, describe their needs, and provide feedback, it’s highly likely you will lose the deal.

The sales presentation best practices below provide a specific time structure and framework for an introductory PowerPoint presentation that will be truly compelling to your prospects.

First, the specific time structure.  The time it takes to deliver the pitch without any Q/A cannot exceed 30 minutes.  This leaves 15 minutes at the beginning for introductions and basic discovery of the customer’s perceived problem.  And this leaves another 15 minutes that can be used after the presentation for Q/A, feedback, and next steps.

Second, the slide deck must be short. This one is just 10 slides.  The goal is to get your prospects nodding and agreeing that you can solve their problem, better than your competitors, by slide 7.  If you do this in just 20 minutes, you have all that time to get to know your customer, their problem(s), the organization, and exactly how the decision will be made.  Now that beats listening to yourself talk, or more importantly, losing your customer’s attention and interest.

  1. Cover:  Typically this includes your name, your company name, your prospect company name, the date.  Use this time to NOT read the slide.  Instead, give your prospect a preview into the competitive advantage of your offering and its value proposition in their specific industry.   In other words, tell them “what you are going to tell them”.  Get their interest and attention.
  2. Company Facts:  This summarizes when founded, HQ location and offices, # employees, funding, # customers.  If yours is a small company, prospects will certainly want to know the stage of the company, size and viability.  If yours is a major corporation, prospects will want to know about how successful you have been in their specific industry.
  3. Market Overview:  Show the key markets your company serves.  Focus on your prospect’s industry.  Review the specific problem(s) you solve in their market and the benefits attained.
  4. Customer logos:  Display your marquee customers and partners for each key market. Talk about how specific customers, preferably in your prospect’s industry, have used and benefited from the offering.  Provide insight into the reasons your company was selected instead of your competitors without naming them.
  5. Offering: In one slide it’s important to list key features and functionality.  Review these, but focus on the ones that differentiate your offering and support your unique value proposition.
  6. How it works:  This slide should give insight into how your company’s offering is deployed, delivered, and used.
  7. Value proposition:  Your prospect has the basic facts now.  Map your offering, delivery and usage to the unique value proposition. Remember, while your value proposition can remain the same, its usage and benefits can vary.  For example, in geo-location services, the unique value proposition is that your offering can determine, with more accuracy than your competitors, the “likelihood” that a web visitor is at the same location as their device IP address.  This could be used for targeted marketing, on-line security, fraud prevention, or content distribution.  The benefits differ, but the unique value proposition remains the same.
  8. What the offering looks like:  This could be screen shots or pictures, but it should focus on visualization, prior to a demo.  It’s like buying a car.  I must visualize myself in the car first. Then I will want a test drive.
  9. Service, Support, Professional Services:  Be sure to let your prospect know exactly how they will be supported should they sign on the dotted line.
  10. Questions?

So let me encourage you to give this a try.  Instill confidence in your prospects so they will prefer to do business with you and your company.  Be specific and knowledgeable about their industry and their unique problems. Keep the thread of your value proposition, competitive advantage, and its proven benefits throughout the PowerPoint presentation, and it will be powerful!

Good luck and good selling!

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Product Management and Marketing: Can’t We All Just Get Along?

For this blog post I’ve asked long time friend and colleague, Robert Lonadier to share his insights on the role of product management and the dynamics of its relationship with marketing. Robert’s career spans the gamut of IT hardware, software, and services with an impressive record of achievement as both a product management and product marketing professional – he currently serves as a Senior Product Manager at EMC.
The roles of product management and product marketing have evolved considerably in the 20+ years that I have practiced them. Early in my career, product management and product marketing were largely left to their own devices. Thinking that the positions and function were somehow temporary, we were left to pretty much do as we pleased. Product Management’s job was to tell the engineer’s what the build. “Develop the requirements” they would say. But where to look for the source of the inspiration on what customer’s really wanted? “Talk to Sales and Marketing, they are the ones closest to the customer”.

And the textbooks were not much value, either. They either focused on consumer product management; large numbers of customer’s whose preferences were measured in tenths of a percentage of market share. Does anyone remember the Cola Wars? It’s no surprise these techniques did not transfer over well. A few innovative researchers, including Eric von Hippel of the Sloan School of Management, looked at how lead users identify the source of innovation, often in very surprising and unpredictable ways. Product Marketing grew out of the need to support sales. Help make Sales go more smoothly by greasing the skids. Provide “air cover” to Sales. It really took the classic microprocessor battles of the late 1970s (a good read on the subject is “Marketing High Technology” by William Davidow) for Product Marketing to hit its stride

Given how the disciplines evolved, product management and product marketing often have an uneasy relationship. So many functions can easily fall into each other’s bucket. There is even a well-respected product management body of knowledge called “Pragmatic Marketing”. So, it’s no surprise that many practitioners are confused about the proper roles between the two functions. And management is not making this easier by often times lumping the functions together and not properly defining the roles.

Product Management and Marketing’s Guide to Harmonious Co-Existence

So, what is a product manager and product marketer to do? Here are a few suggestions:

  • Communicate, communicate, communicate. Reach out to your product marketing/product management counterpart(s). Do not wait for management to step in and suggest this. Seize the initiative.
  • Clarify the roles and responsibilities up front. Especially if there is nothing already documented.
  • Be flexible. Depending on the skill level and capability of your product management/marketing counterpart, you may need to adjust what your contribution is in order to ensure that there are no gaps.
  • Remember you’re both on the same team and the real goal is to help your company reach its sales numbers.

The future of both disciplines is bright as the roles of product management and product marketing are critical to the development and marketing of successful products.  Companies that can clearly define and embrace both roles are more likely to see better overall results in bringing sellable products to market.

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Keeping it Real: Social Media Success Tips for 2011 and Beyond

I recently dusted off my copy of “The Seven Habits of Highly Effective People” by Stephen R. Covey and was refreshed again by the book’s tried and true principles.  In the new world of social networking with 24/7 Internet and mobile feeds screaming “look at me,”  “hear me,” “pay attention to me” − scattered with fake testimonials and other dubious schemes meant to manipulate Internet rankings, it can be difficult to believe that doing anything “old school” can reap results.  Forgive me for what may come off as preaching, but I, like Covey believe there are timeless truths that when properly applied to all facets of life will yield lasting results that don’t fade with the latest and greatest fad.

“Personality Ethic” is Covey’s description of the recent paradigm where success has become more of a function of personality, of public image, of the use of more shallow tactics to drive human reaction vs. applying genuine principles, what Covey calls “Character Ethic” to achieve results. Covey states, “the glitter of the Personality Ethic, the massive appeal, is that there is some quick and easy way to achieve quality of life − personal effectiveness and rich, deep relationships with other people− without going through the natural process of work and growth that makes it possible. It’s symbol without substance. It’s the ‘get rich quick’ scheme promising ‘wealth without work’.  And it might appear to succeed – but the schemer remains.”

I believe building fruitful relationships with media, bloggers, partners and customers is a process that inevitably takes an investment of time and effort to produce real and effective results. Ultimately it is Covey’s principle of “Character Ethic” rather than “Personality Ethic” that will help companies achieve superior long-term results in their marketing efforts.

If you decide to follow Covey’s higher path of “Character Ethic,” here are a few ideas on how to get started…

  • Build a Genuine List of Social Networking Followers/Fans: As much we’d all like to automate social networking – and there are great tools that help this process – beware of programs that build your follower/fan base on autopilot.  It’s really not about the number of followers, but rather their relevancy to your business and  loyalty that counts.  Taking shortcuts may seem to increase popularity more quickly, but thoughtful and personal communications build genuine relationships over time.

TIP:  When someone becomes a fan or follower, don’t send a self-serving automated message − take the time to send a personalized “thank you” note.  This is the opportunity to make a first impression that is meaningful and demonstrates your genuine interest in the person/company that is following you.

  • Toot Someone Else’s Horn: If possible, it seems the self-importance of individuals and companies has become even more inflated with the advent of social networking.  If you want to take a fresh approach, drop the “it’s all about me” approach and become the advocate of your industry peers and customers.  Use air time to promote their achievements and accomplishments in addition to your own.  In Charlotte’s Web, it was the “humble” pig that amazed everyone, won the blue ribbon, and saved his own life in the end.  Take the time to be genuinely concerned about your contacts and their specific interests and they will become faithful followers in the end.
  • Adopt a “Win-Win” Approach to Customer/Partner Relations: In my previous blog “Tried and True Strategies for a Prosperous 2010”, I noted that many companies fail to engage their customers and partners because they do not present a compelling value proposition. Self-centered requests often fail while successful programs are based on answering the customer’s question of “What’s in it for me?” Recently Google changed their search engine ranking criteria and added customer feedback as a key component of how companies are ranked.  As you can imagine, this has spawned a variety of schemes that help companies improve their online reputation with fake customer ratings and phony feedback.  Despite the allure of such shortcuts, the best strategies require you to build customer loyalty with good products and excellent customer service throughout the sales cycle.
  • Honest Communications, always:  Many companies have learned the hard way, but it’s always better to be honest about mistakes than to cover or lie.  And with online communities, chat boards, Twitter, citizen journalists, and the likes, it’s only a matter of time before truth gets out.  People and customers are much more forgiving of companies that are willing to air any dirty laundry before they find out themselves – everyone makes mistakes, so own up to them quickly.  A reputation of integrity and honesty will stand the test of time and companies that build their brand around such principles will be rewarded in the long run.

So may we all find the time during the holiday hustle and bustle to reflect on what “Character Ethic” principles we can apply that will help shape our businesses and lives to make 2011 the best year yet.

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How Not to Name Your B2B Technology Company

Let’s be honest, the perfect company name can’t make a bad business model succeed, nor will a bad name cause a good business model to fail. And yet, when all things are equal, going to market with a memorable and compelling company name is like swimming with the current – it’s just plain easier.

A wisely chosen name requires fewer repetitions (and therefore less effort and marketing dollars) to promote. This is typically considered a good thing when you are a resource and budget strapped start-up.

So finding the perfect company name is easy, right? Absolutely! Anyone can do it – well that is until you do a bit of research and realize none of your brilliant ideas seem to be available.  The Internet age has led to a boom in technology start-ups and a bust on available brands.

This lack of availability has led to an onslaught of meaningless made up names (Twitter, Vonage, Skype) and inventive brands where basic grammar and spelling rules need not apply (eBay’s rogue “B”, reCAPTCHA’s runaway caps lock, Flickr’s missing vowel). There are many examples of success within these categories, but that doesn’t necessarily mean it is the right approach for your start-up. Your competitive position, marketing budget/resources and company goals are just a few of the factors to consider before naming your company according to the latest branding fad.

The Branding Creative Process: How to Get Started

Brand names can be developed and categorized in lots of ways – branding firm Igor offers a useful naming guide, which beaks down the categories into the following: Invented, Functional, Experiential and Evocative.

  • Invented brands typically include names built upon Latin roots (Agilent, Alliant) or poetically constructed names that are based on rhythm and the experience of saying them (Google, Kleenex)
  • Functional brands are asked to perform only one task: explain to the world the business that you are in (AllTheWeb, FriendFeed)
  • Experiential brands offer a direct connection to something real without being overly task oriented (Explorer, Safari)
  • Evocative brands differ from others in that they evoke the positioning of a company or product, rather than describing a function or a direct experience (Yahoo!, Apple).

There are no absolutes in naming – for every followed or broken branding “rule” lurks a failure or inexplicable success. However, we typically advise our business-to-business technology start-up clients (who lack either the budget or desire to hire a traditional branding firm) to skip the invented and functional names in preference for the experiential or evocative approach. Why? Because these methods typically produce a memorable name that inherently speaks to the value of the offering on an emotional, human cord without being overly cutesy, costing too much to promote or limiting future growth.

Swim with the Current: Choose a Compelling Company Name

If you decide to go it alone and name your new technology company internally, the following checklist can help you gauge whether the brand names you are considering may help or deter your marketing efforts. While there will always be exceptions to these rules, if you answer “Yes” to one or more of these questions, you may want to re-think your company name (unless you have the advertising budget of a Xerox or IBM, then by all means ditch this list and name the company whatever the heck you like – and call us, we’d love to help you spend some of that budget promoting that new brand ;)):

  1. Does the name have any negative associations? Be sure to consider all the intricacies of meaning beyond the intended usage. To start, do an Internet and news search to see what comes up. If you are selling into multiple markets or on a global basis, you need consider the negative associations across all target market languages and possible pronunciations.
  2. Is it difficult to pronounce? Write the name down and put it in front of 10-15 of your friends or colleagues. Ask them to read the name back to you. If two or more of them looks at the name in a confused manner or stumbles to read the name correctly, it may be red flag. A name that is difficult to say is difficult to remember. This means it will require a larger marketing budget to get the name to stick with target audiences. The ideal name is short and sweet. It rolls off the tongue. This typically means it will have two or three syllables (or even one).
  3. Does the name sound too technical? Hint: if your name is an abbreviation, acronym or contains roman numerals, it may be “too” technical. Remember the best brands speak directly to the value of the offering on an emotional level and make the brand memorable… strings of letters, numbers and technology jargon offer no emotive value and can pigeon hole your company as an out of touch technology vendor versus a visionary solution provider.
  4. Does the name sound similar to an established competitor? The goal of branding is to differentiate yourself from your competitors, not make yourself indistinguishable. Having a name with the same or similar keywords can cause market confusion and produce unintended results.  One of our clients, whose name started with same word as two of its competitors, was referred to in articles and reports collectively with its competitors and all were ridiculed for their lack of creativity. This is not a branding battle worth fighting if it can be avoided.
  5. Were you forced to pick a name by a deadline? People often don’t give themselves enough time to pick the perfect brand. Coming up with a great name takes time.  Perhaps the ideal name can just come to you as an epiphany, but more often than not you need to be more systematic and objective in your naming process. If you have to have a name by next Friday, you’re probably going to miss out on a lot of creative and compelling possibilities.
  6. Does the name explain a function of your offering? Naming your company after a single task or function of your offering can limit future growth if you decide to expand your offering or take a new approach based on market feedback. In addition, a functional name is typically derived from a limited number of industry keywords – and your competitors are probably already using these words. In the end, you can find yourself with a name that offers little, if any competitive positioning. If you have chosen a functional name, perform an Internet search to gauge competitive usage before you commit to the name.
  7. Does it infringe on existing names or trademarks? Infringement can be widely interpreted by some, even if you think challengers would be wrong or outright ridiculous to question your trademark application, it is best to do your research. The United States Patent and Trademark Office offers a searchable database of registered and pending trademark applications, as well as, helpful guides on the ins and outs of the trademark process.

Your Turn: Share Your Branding Advice

This list is compiled based on my ringside view from our marketing firm. I’m sure the list can be expanded upon and improved, so please feel free to agree, disagree or weigh in with your own branding experiences.

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Radical Transparency

In my last post, “IT Buyers Search for the Truth and Come Up Empty Handed,” I talked about the lack of trust companies have with their technology vendors these days. And I posed the question related to vendors being transparent with customers: what are we so afraid of?

I had an experience recently that was so unusual, so fantastic, so transparent that I wanted to write about it here.

I am the CEO and Founder of a start-up called Wisegate. We are in stealth mode, are working with a tight budget and needed a web conference service. I found GoToMeeting had a free 30-day trial so I signed up.

The month of using the service was fine (easy to use, good experience) but that is not the story here. Four days before my free trial ended they sent me an email telling me my free trial would end in 4-days and telling me how to cancel the service. They did this right up front in the email, no small print, no convoluted machinations required to cancel.

That is transparent behavior! I was so impressed and felt like I could trust them to make it easy should I need to cancel in the future that I stayed with the service and did not cancel.  Since then I have told quite a few people about this experience which I can only call radical transparency.

This is a great example of how behaving in an honest, open manner can grow business. No fear required.

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The Art of Predicting Demand

Stephen Walker is the Managing Director of Colborn Morrison, a boutique business strategy, research & advisory, and project-based consulting services firm, based in Richmond, VA.

There are a variety of components that must be in place to create and execute on a B-to-B revenue growing marketing strategy; differentiation from competitors, the ability to reach your targeted audience, and a clear, well articulated message to simply name a few.

However, on an almost daily basis I’m exposed to companies – of all sizes and across all industries – with marketing strategies that inevitably erode into failure because they lack the cement that holds together a successful marketing strategy: a baseline understanding of what the market in general, and their current and potential customers in particular, will need 3, 6 & 12 months down the road.

Two quick clarifications about the previous sentence:

  1. Although I’m fully aware that no one has a crystal ball that shows them the future, there are a number of overarching themes and trends that marketers can leverage to develop a baseline, or general, understanding of future market demands
  2. I’m emphasizing the word need because it is entirely different from what all too many marketing plans focus on – want. Especially true in the current uncertain economic climate, characterized by budgetary freezes on most everything not essential and directly revenue-generating, what your corporate customers want has virtually nothing to do with what they buy.

Sharing this notion just last week with the V.P. of Marketing for a risk management and compliance software and service company lead said V.P. to exclaim something along the lines of: “Well Stephen, that makes sense and all but a marketing strategy doesn’t happen overnight.”

Of course, forming and putting in place a timely, well-directed, and ultimately successful marketing program does not happen overnight; that’s why building out a marketing program on the foundation of understanding what your customers will need at the time when that program is up, running, and firing on all cylinders is so important!

Although obviously each company’s marketing strategy will differ according to their size, product or service, current and target customer base & audience, etc., there are a number of overarching themes and trends that can, if studied and correctly contextualized into the overall thrust and goals of the marketing program, serve as predictive barometers of market demand.

Two of the more prevalent overarching themes and trends today include:

  1. Those induced by Government – good examples being significant legislative, policy, and regulatory trend changes
  2. Those induced by the private sector – one good example being the rapid evolution of technological advancement.

I know, that sounds pretty general; because it is. However, as mentioned before, the key is putting these overarching trends into context and translating:

  • How that trend will eventually impact the market and what type of demand it will create
  • How your company’s core capabilities and offerings can already be positioned as a leader in meeting that demand.

To quickly illustrate the conversion of general trends to demand predictions, take the notion of what I call “Mobile GRC” – applying relevant corporate compliance and risk management policies & controls to the countless millions of corporate PDA’s, smartphones, and other un-governed mobile devices containing sensitive, confidential, business-determinative information.

How might this create demand in say, the healthcare sector? Well, consider the potential market impact of this phenomenon in light of recent HIPPA crackdowns and President Obama’s pledges to tighten regulatory requirements, modernize healthcare information systems, and both strengthen and stringently enforce patient confidentiality requirements – when hospital personnel can already access patient information from their mobile devices.

During a two week period this year, I personally found 3 “company” Blackberry’s, with no password protection, in the back seat of taxi’s; and I don’t even ride the taxi that much! It’s just as likely to assume that one of those phones belonged to a doctor as it is to assume that it belonged to a stockbroker – which is a completely different, but perhaps even more valid argument for Mobile GRC we’ll save for another day.

In the ridiculously (and ever increasingly) competitive technology and services market, timing is everything; market share, revenue growth, expansion, and ultimately success will accrue to those companies who master the art of predicting demand.

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Interview with Jennifer Vancini, Business Development Strategist

Today we’re thrilled to be chatting with Jennifer Vancini, the acting General Manager of US Operations for the Symbian Foundation, about the role marketing plays in the successful execution of a business development plan.

Jennifer has over 15 years of experience leading strategic business development initiatives and alliances from genesis to maturity. Her experiences include building and managing business development teams, growing alliances, defining and executing business growth strategies for both start-ups and Fortune 1000 companies.

Jennifer offers a real world view on how the right marketing plan and programs can make or break your success when opening new markets.

Attain Marketing: In your opinion, what are the ingredients that make business development strategies successful and how does marketing factor into this success?

Vancini: Simply put, business development efforts are most effective when the needs of the target customer are clearly understood and the company, and its products, sufficiently meet or exceed these needs. It is essential for marketing to support business development efforts by properly framing the value proposition and then providing campaigns and sales tools that will move new target audiences to take the desired actions.

Attain Marketing: What causes business development efforts fail and what can companies do to be more successful?

Vancini: Many companies are too focused on short term revenue goals, which is understandable given the way people are often incentivized. However, they don’t spend the time or money required to develop new markets, which are ultimately necessary to sustain long-term growth objectives and smooth out revenue fluctuations. Companies falsely believe they can develop a few random marketing tools and then magically gain traction in a new market, but that isn’t the case unless, of course, the market was low-hanging fruit to begin with and the company lucks out. I don’t rely on luck for repeatable success.

A successful business development program takes time to develop and execute and includes the selection of target markets with the highest probability of success, customer and competitive intelligence gathering, strategic positioning and message development, and creation of ongoing lead generation programs.

Attain Marketing: In your experience, what issues arise between business development and marketing teams that impede success?

Vancini: The common mistakes all stem from the same problem. Despite the fact that marketing and business development people are both charged with expanding their company’s client base, they rarely start out on the same page.

I’ve seen classic examples of this throughout my career, such as:

The “one-off” marketing campaign. In this instance, a lack of budget and commitment to a new market is replaced with a few disjointed and shotgun marketing campaigns. This short sighted approach often produces disappointing results because marketing activities are not part of an integrated and ongoing campaign.

Another common mistake is trying to be all things to all customers. This is usually a result of limited resources, limited market understanding and impatience. Instead of focusing efforts around a tightly defined audience, the company rushes into new markets with broad messages and ineffective campaigns that try to reach too many people and often the wrong people.

Lack of credibility is often a hurdle when entering a new market. You can’t assume your company’s reputation will automatically transfer from existing to new markets. Prospects won’t believe your claims unless third-party experts and/or customers back them up. You must take the time to build credibility points and endorsements from influencers in new markets.

Finally, new business development ventures are often misaligned with corporate branding and strategy. Time must be taken to ensure that new business development marketing programs align with overall corporate branding strategies. Branding is much more than a logo. The consistent, cohesive presentation of a company brand, which includes all touch points to a customer and market (promotion, product, service, sales, etc.), increases customer confidence. On the other hand, branding “free-for-alls” make a company look unprofessional and unreliable. Depending on how radical the departure is, it can also raise suspicion in the customer’s mind that his/her business development contact is acting on his or her own without buy-in and support from the rest of the company.

Attain Marketing: What tips can you provide to our readers that will help them avoid these mistakes?

Vancini: The main point is to view marketing and selling as an integrated process. Teams from both sides should collaborate and execute on an overarching set of goals and objectives. Management support and proper budget – is the first step to success. Other tips include:

  • Concentrate business development and marketing activities on a few, well-budgeted product and service offerings to avoid fragmented resources and reduced market exposure for each product.
  • Organize the demand-creation process in a way that lines up with target customers’ view of the world and how they prefer to buy your products.
  • Base your marketing messages on well-researched business issues and solutions instead of forcing your target customer to think about these issues and how solve them from your perspective.

Attain Marketing: Great points. As you know, everyone is sensitive about the economy today, so we have to ask you how companies can successfully market their business development projects with limited budget?

Vancini: I expected that one. But really, integrated marketing campaigns don’t have to be expensive – it’s not an all or nothing proposition. What’s important is to be sure that all marketing programs are tied to business development objectives and selected campaigns can generate the best ‘bang for the buck’. Even in good economic times companies can find themselves operating with a self-defeating scarcity mindset, especially small companies who compare themselves to rich competitors. Just do the best you can with what you have, make choices that have the strongest link to objectives and be realistic about the results.

If your sales and business development people on the front lines feel they don’t have enough marketing support, they’ll come up with their own programs and tools. I’ve seen this range from creating their own PowerPoint templates to making up a new product line on the fly. Not only does this become a diversion from where they should be focusing their time, but messages and brands get diluted and overall results are hindered.

More than ever, opening new markets is key for a company’s long-term growth. When marketing and business development are aligned, companies have a significant competitive advantage and will have the greatest chance for success.

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IT Buyers Search for the Truth and Come Up Empty Handed

Sara Gates

We’ve asked Sara Gates, a respected leader in the information security world who is well known for helping companies move from early to mainstream markets, to be a guest contributor for the Attain Marketing blog. Sara’s expertise in strategy and product management – combined with a “get it done” attitude and practical approach to solving ITs most critical and timely challenges – brings a fresh perspective on B2B marketing that we hope will benefit all of our readers.

I have had the chance lately to speak with a number of mid and large size companies’ IT Buyers about their buying process. I found the following: IT buyers do not trust vendors. At all. Not one little bit. I should mention that I have been a vendor for over 10 years so hearing this has been a bitter pill.

These buyers seem to have become accustomed to this lack of trust. One Director of IT at a Fortune 500 company said, “trying to figure out which vendor is lying to you the least is tough” (ironically he is with a technology company). His sentiment is shared across a majority of people surveyed. In fact, over 90% of those surveyed indicated that they no longer trust their technology vendors.

They have a heck of a time getting to the truth on simple questions such as:

  • What does the product actually do and not do?
  • How much is this product going to cost me to deploy?
  • How much is this product going to cost me over the next few years (i.e., not just license cost)?
  • Are there special skills needed to deploy and run this product?

As these questions indicate, the lack of trust stems from a lack of transparency into the vendors’ products and services.

I have to ask: What are we vendors so afraid of? What would it hurt if the answers to these questions were available? What would the cost of transparency be? What would the joy of transparency be? I can’t help but wonder if there is a different, more transparent, way.

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The Value of Claiming A Niche

I have a dear friend whose personal hallmark is, “I’m not for everyone.” She typically makes the statement right up front as a disclaimer when she meets new people. And she is right.

She is a strange mix of business savvy sales person, think Ivonka Trump, combined with the unplugged and raw style of comedian Kathy Griffin. Enthusiastic, demanding, driven yet funny, quirky and humble – people either love her or run for cover when she enters a room. This fact doesn’t bother her… life is too short to try to please people with whom you share little or no common vision or interest.

She is not trying to force relationships or pretend to be something she is not just to earn someone’s business or call someone a friend. She is more of a niche marketer by nature, focused on creating highly productive relationships with other like-minded individuals.

And in this manner my friend has created quite a loyal following of friends and colleagues who worship the ground that she walks on. I think there are lessons to be learned from her on the value of niche marketing:

Be true to your brand. Know who you are and what you stand for and don’t compromise.  People will question the credibility of the offering if the sales pitch changes for every new opportunity that comes along.

Don’t try to be all things to all people. You will fail miserably. No one thing can be the cure all. I can’t tell you how often we see companies lose market momentum because their resources are distracted chasing after some dead end custom project for a one-off customer.

Don’t bite off more than you can chew. Generic “one-size-fits-all” messaging doesn’t sell high priced enterprise software and services. If you have limited resources (as is the case with most early stage companies), it is unrealistic to think you can effectively market to multiple verticals. Hint… if all of your industry vertical solution pages contain the same messaging, you may benefit from choosing a niche.

The 80/20 Rule. If eighty percent of the output comes from twenty percent of the input, we can all benefit by defining and targeting the twenty percent of the market that can bring us the most value.

And finally… Don’t be afraid of commitment. So many companies are afraid to choose a target market because they may choose the wrong one. But like the eternal bachelor, by not choosing they effectively alienate all the contestants through a lack of commitment to a single focus.

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