SME Marketing Blog
25.10.08 |
Marketing for Small and Medium businesses during the Credit Crunch
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Everyone seems to tighten their belts these days. But as John Maynard Keynes told us decades ago: it is a big mistake to cut down most of the efforts to generate business during recession times (and, by the way, for the moment being, we still don't have one). OK, he meant that for the whole economy. But the same conclusions apply for any business: how can you possibly make sure your company grows, if you cut down all investments in Marketing and Lead Generation? The answer is: you can't. On the other side, we must consider budget constraints in these times. As a company leader told me recently when we met on a showroom: we still do make investments - but only in down to earth lead generation efforts. In other words: we are coming back to the healthy roots: Marketing must generate business, otherwise the reason for its existence is gone. Yes, brand awareness is important, but we need to go far beyond that. We need to make sure there is enough business for a difficult calendar year to come. That said, the question is which Marketing activity is the most productive one. I will talk more about this topic in the next postings, since the answer is different in every industry. Today, I want to begin with the B2B segments, especially the IT and Professional Services businesses. It is more important than ever to involve prospects in what I am doing the whole day. As an Enterprise Software vendor, in this highly competitive market, I need to make sure that people recognise my brand and connect my kind of products & services with it. It is possible to do specifically targeted advertising on the web. In order to market Enterprise Software, I need to get access to commercial and technical decision makers. Trying to do this via specialised events can be awfully expensive. A less costly way is e.g. to specify a Google Adwords campaign for one or two particular business media or channels. For instance, PPC adverts can be placed in a way that they appear only on Business Network LinkedIn. An alternative is to place advertising directly on specified niche communities and networking sites. I have had good results e.g. with a business platform for Call Centre executices and suppliers. In my view, the secret here is to provide hands-on information with a real value for the end user rather than the usual Marketing Hype. People aree getting tired of the latter anyway, and a helpful approach in order to resolve customers' issues is somewhat refreshing. |
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29.02.08 |
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| In the Software business, lead generation becomes increasingly tougher. Prospects are overloaded with cold calls and newsletters from hundreds of vendors and resellers and start to "shut their doors". They are ever harder to get on the phone, let alone the challenge get hold of their permission to send them an e-mail. In this situation the question is whether it makes sense for a software vendor to keep on with this strategy. But let's have a closer look: what do they actually do? Many vendors prefer to be direct: they do not offer their prospects any real benefit in return for their time. This is the wrong approach in today's fast paced marketplace with ever increasing communication and information, but with decreasing time slots for actually dealing with the important management issues to be resolved. Instead, the real question is: What do you know that can help your prospects succeed on their marketplace? This is what they are really looking for. And once you have given that, you can still start with your pitch. Here is an example: if you sell voice applications such as voice recording and monitoring, your prospects will probably include Financial services and other industries which are obliged to keep proof of their transactions. The real question in the first place is not what your product can do for these companies. It is rather, what they can do with voice applications in general to make a better impact on their business. If you go one step further now and offer them your free support to prepare their business to implement these "to dos" you will be in a much better position to make your pitch later on. Larger companies can do this when establishing dedicated project units and managers. Smaller companies with less budget have the alternative to look for business partners in the systems integration and in the technical consulting markets. There are also freelanced professionals who you can assign to do the job when requested. Sure, this will cost money. But on the other hand the question is how much money you have already wasted for cold pitches with companies that you simply wanted to sell to without them even knowing you. How did you learn to know your partner in life? Did you walk up to him/her and asked them as a complete stranger to marry you or to be with you? Probably you first invited them for a drink, haven't you? Send your feedback to info@jmoellerconsulting.com or call us at +44 (0)20 799 32 415. |
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