We just sent out a summary to the participants of this year’s Industry Specialization by B2B Vendors Benchmark Study. We had a record 120 B2B companies take part in this year’s study.
Companies see that greater customer focus, in the form of industry-specialized sales, marketing, services, and products will enable them to access more senior decision makers and increase deal sizes. Many are also responding to competitive pressures. The good news is that the investment is paying off.
The full report is due out next month, but meanwhile, a sneak peak at a few tidbits:
- 67% of B2B companies that already have some amount of industry specialization said they plan to further increase their focus on key vertical markets.
- It takes two to three years to begin to realize the full benefits of specialization.
- After 2 years, 70% of companies reported notable or significant impact on revenue from their investments in industry-specialized activity
- Industry alliances have a big impact on brand awareness
- Industry-specific case studies and quantitative ROI analysis were reported to be the most valuable industry-specific marketing tactics. Sales and marketing brochures were least effective.
Social networking channels are not the only way to make your marketing efforts more interactive. While you experiment with social media, you can make traditional marketing methods conversational too.
Getting customers to contribute to the substance in your marketing content, events, products will raise the value and trust customers place in them. Dan Ariely, author of Predictably Irrational, demonstrates that “labor enhances affection for its results.”
This week I’ll be posting a series of ideas on adding interaction and soliciting active customer engagement and contribution through traditional marketing tools. Here are a few to start off.
- Value proposition and messaging – Starting with the obvious here: when crafting your claims of benefits, value, and ROI, ask your customers what benefits they’ve actually received. Use these results to create your messages about benefits and value. Then go back and ask customers if they “buy” the story you tell about how your product leads to business results. You’ll have messages that really resonate, and your will have created references that back up your story because they ARE the story.
- Collateral and White papers – Create a Wiki instead of static product data sheets, brochures, and white papers. Provide a framework and some base content, then give customers the ability to contribute. You can moderate to ensure accuracy, of course. With customers contributing, you’ll have more complete, relevant, and trustworthy information.
Have you tried these or other ways to engage customers in conversations? Share them in your comment!
Read More
Turn Marketing into Conversations – Part 2
Turn Marketing into Conversations – Part 3
