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  • Marketing the Triple Bottom Line

    Kimon 3:07 pm on November 21, 2009 | 0 Permalink | Reply
    Tags: B2B branding, ,

    The criteria B2B buyers use when making purchasing decisions is changing and companies that embrace these changes can add considerably more value to their brands.

    Traditionally, B2B buyers have built business cases around the economic performance of the products and services under consideration. These business cases are usually heavily dependant on financial indicators like return on investment (ROI) and net present value (NPV). Whilst the financials are still critically important, there are now other key considerations B2B buyers are factoring into their decision making processes.

    Expectations on businesses to operate as good corporate citizens are now common place. Stakeholders are demanding organisations make real contributions to economic prosperity, environmental quality and social well-being, now commonly referred to as the Triple Bottom Line, TBL or 3BL.

    So, just how does 3BL change the way B2B buyers look at products and services?

    Before an organisation buys your product or service, they’re now likely to consider the impact it has on society and the environment.

    Social benefits are measured by how an organisation contributes to the community. For example, B2B buyers that choose to purchase Australian made products can claim a social benefit because they’re contributing to local employment. Same goes for organisations that donate to charities, promote work-life balance initiatives and so on.

    The Environmental component of the Triple Bottom Line is measured by the size of the organisation’s footprint and what they’re doing to reduce it. Organisations buying products that harm the environment are likely to be perceived as contributing to the problem, rather than the solution.

    So, when you’re promoting your organisation or the products and services you sell, be sure to highlight the Triple Bottom Line benefits. Whilst you may be selling the best functioning product or service at a reasonable price, tell your target audience what you’re doing to promote social and environmental wellbeing too. You may just increase your brand’s value in the process.

     
  • Beware of the “smartest” guy in the room

    Kimon 7:52 am on September 21, 2009 | 0 Permalink | Reply
    Tags: , , Busines-to-Business, Industrial marketing

    Everyone loves an expert, I certainly do. When I’m taking my car in for repairs, getting a job done around the house, or using an accountant to do the tax thing every year, I rejoice in the fact that there is someone smarter and better than I am in a special field of knowledge. That leaves me to crack on with the stuff I’m good at. It’s a comfort to know that there are people dedicated single-mindedly to a task, because naturally if you spend all your time in one special area of expertise, you would have to be pretty damn good.

    This is true for all experts, in all fields except for volcanologists. I’m thinking of that earth burp, known as Mount St Helens back in 1980. The experts said not to worry, let’s evacuate people to a distance of 13 kilometres into a “safe” zone. There was just the small issue that the experts’ only knowledge base was Hawaiian volcanoes, which have open craters to erupt in a violently controlled manner.

    Mount St Helens was a completely different kettle-of-fish, no open vent, and even when a massive bulge appeared on the Northern flank, no-one except for a chap called Jack Hyde pointed out how nasty it could be. Jack was not a part of the “expert” panel, so his voice was not heard at the time. What came next was a catastrophic explosion beyond comprehension. The world’s greatest landslide screamed 250 kilometres per hour down the mountain, carrying enough material to bury Manhattan to a depth of 120 metres. Then the main show with an explosion of five hundred atomic bombs, killing people as far away as 30 kilometres, as the blast went out of that bulge, the experts had considered as “insignificant.”

    On second thoughts there are experts in other fields who also get it wrong, such as (pause for effect), digital media people. In fact they are so far off the pace, they don’t even have a proper sounding title, at least volcanologists have that much going for them. On the other hand, when a “digital media person” cocks-up, it’s not quite as cataclysmic on human life, so I guess on that score, it all evens out.

    The real issue is, when an expert digital media person talks about B2B, are they an expert with B2B? They could by all rights be a borderline genius with digital media, but in the world of B2C, creating buzz for cornflakes or launching e-commerce sites, which creates impressive bio-copy, stating how much business their digital media expertise has generated. Problem is, without a deep understanding of B2B, innovation and technology companies are blowing holes into their budgets and credibility following the advice of “experts.”

    The most striking example is in the world of SEO, with many taking the same approach to selling large capex products as you would when flogging collectable Hot Wheels. The most obvious difference is the time to buy. My boy takes about 20 seconds to decide what Hot Wheel he wants, a B2B buyer will take 2 years or more, just on the due diligence. Perhaps the best illustration of the expert gap is with key word strategy.

    B2C searchers often use well-known brand names, such as Hot Wheels, because many already know what they want to buy. The real hunt is for the best source. If a B2C searcher uses a generic term, expect less variance such as “toy car.”

    B2B keyword strategy is more complex, because often there are many ways to skin a cat. Imagine for instance, you sold cat-skinning technology, not a bad thought at all really. In any case, you have a business, which sells technology licensing for a remote controlled plant that skins a thousand fur balls per day, using various ingenious methods.

    To attract licensees/investors/customers, you need your key word strategy to cover not only the bleeding obvious such as your brand and “cat skinning” but also “slaughter systems,” ” slaughter technologies,” “food processing,” “animal management systems,” and dozens of other related and specific search terms.

    You also have to consider the variation of what to call things, because people will use weird combinations of words because of industry-specific lingo or generic terms. Your typical B2B searcher uses words focused on the need or problem, rather than a product or solution. Add multiple searches during the buying cycle and multiple parties influencing the sale, B2B SEO keyword strategy can quickly become more complex than a weasel chasing a snake in your trousers.

     
  • Going for a revolution? Before you storm the gates…

    Kimon 7:19 pm on July 20, 2009 | 0 Permalink | Reply

    The French, they gave us silly accents, glorious vistas and the spirit of revolutions. The way the French cracked on in 1789 taught us that if you’re sick of something and believe you have a better idea, you have to shake things up to dump the status quo. Unfortunately in B2B marketing, you can’t willy-nilly cut the heads off people who block your progress, not matter how much you feel the world would be a better a place. With our current legal system, you have be a bit more strategic to get your revolution going.

    Technology for instance can enable us to hold our own revolutions to change the world and take leaps into new markets begging to be exploited. Sometimes markets are stuck in ways that just don’t work, at times stupidly so. That’s when inventions sprout forth, new technology powers new ways, which requires new thinking and in turn can generate some really exciting changes.

    And then someone has to market it and here the revolution can get shaky, because revolutions in technology and innovation often require a vast change in people’s thinking, conceptualisation and behaviour, along with a dose of bravery for being the first to try something new.

    Imagine if buying behaviour of corporations and Government was applied to that nifty revolution – fire. We would all still be eating raw meat and freezing our bums off. In fact let’s quickly run a ruler over that radical idea of “fire,” a genuine revolution of technology in the light of modern day procurement procedures.

    1.     Risk-management policy, never be first to use – Well that would mean every other cave will be enjoying pork chops, without worrying about getting worms

    2.     Need to get three competing offers, open tender policy – Does that mean you have to go out, teach two others how to make fire, hand over IP and then pray that you don’t get under cut?

    3.     Non-compliant tender – No kidding! It’s non-compliant, because no one has ever done fire before! Perhaps if the underdeveloped sapiens who did tenders, did so with an understanding about what they needed to achieve?

    Any of this sounds familiar? I really do admire the brave and brilliant minds that develop new technology. And what a challenge to market it!

     
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