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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

Small is the New Big

Merit Co-op

July 14th, 2011

terry jukes
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

How NOT to boil the ocean!

Merit Co-op

July 14th, 2011

what is happening out there
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
what are the big picture trends
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 trends1
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 does now look like
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
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 innovation1
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
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
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
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
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
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
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
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
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
thank you make it a productive two days questions

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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