THE INDUSTRIAL WEB: ARE YOU READY?

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9 Steps to Find your Market and Build your Plan

Its true. Too many people today spend their time focusing on building relationships with the networks of people who don’t give a damn about what they write leading them to the wrong marketplace.

After finishing the most recent chapter of my book, I took to the Twitter streets to get some insight from a couple of best-selling authors about what they feel is the most important thing to focus on, after your writing is complete.  Although their advice was tailored to writing, I think it goes much further than that.

The first response I received was:

Carrie Wilkerson, a true inspiration for many and the Author of The Barefoot Executive, is someone who can grow on you from the first time you have the privilege to interact with her.  I’ve focused a lot on Carrie these past couple months, and the reason is because there’s a ton everyone can learn from her.  Even the response above can shed some deep insight to companies wondering “what next?”.

Out of the 100 or so industrial companies I’ve worked with, many of them are hit with this question early in the process of a product release.  They’ve built something phenomenal, they’ve spent countless hours making sure its right, and now they sit and wonder what the hell do to with it.

Here are 3 tips to keep you focused on creating your marketing plans:

1. ) Build your Plans Now

Gather evidence to justify the avenues you take to market your business or product. This ensures you’re ready to go as soon as possible. Otherwise, you might fall second to a competitor.

2.) Prioritize the Investments

Invest in integrated programs that explore multiple platforms to maximize exposure and identify opportunity.  Prioritize as pre-product, product-release and post-product programs to build and sustain awareness in your target market early, allowing you to build upon these programs and utilize the same exposure for future marketing activities.

3.) Emphasize Measurement and Evaluate your Channels

Today, the most effective marketing programs are online programs whose performance can be measured and analyzed. Online programs are built around impressions, clicks and conversions. You can easily see what is working and focus marketing dollars on the most successful programs, which will help reduce waste while increasing results.

Best-Selling Advice #2

The second bit of advice came from another professional who I often turn to for inspiration and for ideas on my own business, Chris Brogan.  Chris is something of a ninja when it comes to building a market for business.  He writes one of the most respected marketing blogs in the industry and is a pioneer for inventing new ways to build a network.

I exchanged a few tweets with Chris, and felt they were worth noting:

Come on! The second tweet absolutely kicks the shit out of any advice many of us have received.  If you don’t think so than maybe you shouldn’t quit the day job.  But seriously, its so true.  Many times we get so consumed in attempting to emulate something that doesn’t make sense for our own success that we lose vision of our own marketplace.

Its true, there is a market for everything.  Its just about putting the time in to identify the market and engage in it.  Here are 6 things that anyone can do to find the marketplace they seek:

1.) Engage in your Target Market

Spend time learning and listening in on what conversations are happening in your target market.  Find our what they are facing and consider how your marketing plans need to adjust from what your audience is telling you.

2.) Be Clear about What you Do

How can someone know if you’re a right fit or them until they clearly understand what you do.  Refine your marketing message and your engagements to speak clearly to your target market.

3.) Be Adaptable

Odds are that your target market is not approachable int he way you originally dreamed up and thought.  Fit your marketing messages and engagements to what you’re learning from your audience.  Change it based on what problem it solves and how it connects with your target audience.

4.) Source Yourself

Finding the right audience for your product sometimes requires you becoming the audience yourself.  Spend some time sourcing your competitors from your buyers point of view. Learn what the current market looks like and if you’re truly a fit with what’s already there.

5.) Help Now, Learn Later

Offer your expertise at every opportunity possible.  What better way to learn if you’re in the right marketplace than by engaging in it with your expertise. Monitor discussions and opportunities for you to become part of.  Take the feedback you get and adjust your marketing message.

6.) The “Worth It” View

Review the strategies and tactics that you’re currently putting into place and decide if they have the ability to be repeated on a consistent basis.  if not, you may not be in the right marketplace.

In Closing

So the advice I received today was directly related to writing m y book, but you can see how one can expand on the information and turn it into some extremely valuable business experience.  You never know when great information will smack you face!

Thanks to Chris and Carrie for the help today.

 

Oh Where, Oh Where has my Marketing Gone…

Traditional marketing has many faults that result in its depreciation over recent years. One of the main reasons its continuing to lose steam is that modern day marketers are finding online campaigns and social media interactions easier to slap an ROI sticker on at checkout.  The effectiveness of print advertising, trade shows and other traditional means of marketing your products is further hampered by a decided lack of means in this department.

With online metrics, such as website traffic that can be narrowed down into lead conversions, which in turn can be narrowed down to new customers, gives marketers the power to allocate marketing dollars to areas that are generating revenue more accurately than ever before.

Industrial Marketing

Measurement At the Speed of a Mouse

Previously, marketers sat months to determine whether appearing in a traditional advertising spot was effective.  If they were anything like our family’s manufacturing company, they sat and measured the multiple phone numbers and mailbox addresses used for each ad, and desperately tried and identify some return being gained.  Multiple phone numbers dedicated to individual advertising campaigns was innovative at that time.  It created a point A to point B analytic system that lacked justification of marketing.

Now, you can know immediately how many visitors, leads, prospects and customers  a recent campaign is generating and, if it’s not comparable to previous efforts, switch gears or change tactics within days, even hours. This gives companies a new form of adaptability which is becoming crucial in remaining relevant in today’s market.

This immediacy of reporting is allowing those who take advantage of the industrial marketing revolution to pull ahead of their more tra

ditional counterparts by making faster, better informed marketing and promotional decisions.

Migration of the Masses

If there’s one big lesson for marketers in this recent turn of events, it’s that the old forms of marketing have been under-performing for quite some time now and should not be tolerated as the primary part of your all-important media mix.

To stay loyal to a trade journal or direct mailing company (as many industrial companies do) simply because you’ve been doing business with them for decades is charity, not capitalism. If an advertising stream has dried up, don’t keep going back to the same well but, instead, try to find a new (revenue) stream!

As a marketer, you must be prepared to think differently about your approaches to connecting with customers, prospects and markets. Even before our recent economic problems hit, marketing was already and steadily trending away from traditional media such as printed trade journals and in-person trade shows, and toward interactive web media such as online search, e-newsletters, virtual events and banner advertising. Today, content based assets are a critical elements to any successful marketing campaign.  Throw in social media, and we’re in the midst of a revolution.

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