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Small is the New Big

Small is the New Big. Merit Co-op July 14 th , 2011. Terry Jukes . President B2B Direct Marketing Intelligence LLC Best Practice Audits Due Diligence Strategic B2B multi-channel marketing Visit 15-20 B2B companies each year. Former President/Owner Ability Commerce gNeil Companies

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Small is the New Big

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  1. Small is the New Big Merit Co-op July 14th, 2011

  2. Terry Jukes • President B2B Direct Marketing Intelligence LLC • Best Practice Audits • Due Diligence • Strategic B2B multi-channel marketing • Visit 15-20 B2B companies each year. • Former President/Owner • Ability Commerce • gNeilCompanies • Misco Computer Supplies • Microbits Computer Supplies

  3. How NOT to boil the ocean! Merit Co-op July 14th, 2011

  4. What is happening out there? • Shaky recovery underway • Most back to pre-recession sales • Slower 3-5% growth • More margin “squeeze” • Strong are getting stronger • Weak are falling further behind • Industry consolidation continues

  5. Hierarchy of companies

  6. What are the “big picture” trends? • “Small is the new big” • Explosion of technology continues to drive one to one customer relationships. • Web allows small players to be hyper-targeted and focused. Net gnats are alive and well! • Market moves to near perfect information. • Excruciating focus on doing the right things….doing them perfectly! • Realization that non-mission critical tasks need to be outsourced.

  7. What are the “big picture” trends? • Don’t try to “boil the ocean” • Our “breadth and depth” advantage erodes • (Apparent) “Specialists” are everywhere. • “Sources & Solutions” getting easier to find • Don’t try to do everything!...too much! • Don’t spread your resources so thin that your risk skyrockets. • “Stick to the knitting”…resources spent where only you an create real differentiation

  8. What are the six things to FOCUS on NOW?

  9. What does “now” look like? • Post recession environment • Increasingly complex multi-channel environment • Increasing complex technology • Customer definitely in control • Waves of new web competition • Globalization • Outsourcing

  10. 1. Product & Service Innovation • We are merchants first! • New, unique, hard to find products differentiate your brand. • Track new customer acquisition by new products purchased. • Track how often new products are first line item. • New products should be 15-30% of annual sales • New, exclusive products should have higher margins • New products should drive new customer acquisition • Services/Content are “sticky” drive retention.

  11. 1. Product & Service Innovation Products • Start with a customer problem, need or want. • What can you design and custom manufacture? • What can you re-assemble into unique quantity/presentation? • What can you fabricate from paper, acrylic, metal, plastic, etc? • What product - service combinations can you develop? • Where can you sell “knowledge”? • Product guru needed. • Services • Credit • Warranty • Repair • Return • Training • Installation • Calibration • Product search • Customization • Auto stocking

  12. 2. Leverage your knowledge & content • For B2B merchant “knowledge is king”. • The cost of not having the product is often greater than the product cost • Product application knowledge is very valuable. • Customers buy benefits, results not just products. • Help them buy benefits • Help them measure benefits/value/results. • Knowledge/content drive SEO/PPC effectiveness

  13. Share your knowledge!Article distribution & blogs • http://onlywire.com/ • http://www.articlesbase.com • http://www.suite101.com • http://www.buzzle.com • http://www.squidoo.com • http://hubpages.com/ • http://www.selfgrowth.com • http://technorati.com • http://ezinemark.com/ • http://www.gather.com

  14. 3. Superlative, consultative selling • CRM supported • Inbound • “Order makers” not “order takers” • 15-20% improvement • Track KRAs by rep, pay incentives on KRAs • Outbound • Data driven • Sales and file/RFM objectives • Assigned account • Penetration of site/account • 30-50% increase in revenue in year one. • Custom orders possible • Feedback for new product, service development

  15. 4. Integrated marketing tactics • Catalog + web + email + phone • Reference video in print • Call and confirm online orders • Email announce catalog with offer • Second order offer in first shipment • Web – “order taker or order maker” • Separate branded and non-branded organic search and PPC traffic • Understand traffic sources, conversion rates, AOVs, LTVs, • Sales & Web – “co-browsing” • Integrated mail data, transactional data and web data

  16. 5. Let the data drive! • Multi-channel measurement is difficult, match back no longer an option. Use all “interaction data”: • Take the “site” RFM view first, “contacts” view second • Search for data inter-relationships • Exploit profiles, trends, inferences • Collect data unique to your business • Pinnacle new INTELLIGENT database

  17. 6. Online Marketing • Updated content drives SEO • Manage traffic “streams” from branded and non-branded key words for conversion, orders, sales, AOV and retention. • Best practice site functionality • Marketplaces – Amazon B2B? • Social marketing – >50% of new organic customers • Blog, LinkedIN, Facebook, Twitter, Industry/Group specific blogs- B2BMarketingZone.com, SocialMediaB2B.com • Integrated trigger and promo email • QR codes, videos, mobile/Ipad

  18. Manage your online reputation • Amplicate.com • ComplaintsBoard.com • RipOffReport.com • Yelp.com • BBB.org Try researching “1and1 hosting” for an example of what not to be!

  19. What are six things to focus on now? • Product and service innovation • Leveraging knowledge and content • Superlative, consultative selling • Integrated marketing tactics • Let the data drive • Online marketing

  20. Hierarchy of companies

  21. Thank you!Make it a productive two days!Questions? Merit Co-op July 14th, 2011 Terry Jukes President B2B DMI LLC www.b2bdmi.com `

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