Small is the new big
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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

Merit Co-op

July 14th, 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

    • gNeilCompanies

    • Misco Computer Supplies

    • Microbits Computer Supplies


How NOT to boil the ocean!

Merit Co-op

July 14th, 2011


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


Hierarchy of companies


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.


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


What are the six things to FOCUS on NOW?


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


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.


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


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


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


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


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


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


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


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!


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


Hierarchy of companies


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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