Search Results for: thought leadership

Why Lead Management Automation Really Matters

October 22, 2010 by Chris Koch

We should care more about lead management automation in B2B marketing. Maybe we don’t care enough because we’re focusing on the wrong reasons for doing it.

It isn’t because the software for automating this stuff has improved, or because it’s available through the cloud so you don’t have to deal with those people over in IT.

No, there’s something bigger going on here. And that is a huge change in the buying process.

In part it is being driven by social media. ITSMA’s annual survey of IT buyers found that this year, for the first time, a majority of buyers in the US—and 75% when you include other countries—are using social media in the purchasing process—especially the younger ones.

In our research we’ve also seen consistently over the past few years that two-thirds of buyers prefer to research their buying options themselves rather than waiting for vendors to contact them. Indeed, research by Forbes and Google found that 80% of C-level executives perform at least three web searches per day.

And finally, the trade press and general business media are dying. We have fewer and fewer outlets to do the heavy lifting of thought leadership for us by featuring our subject matter experts in in-depth analytical articles. Yet buyers are hungrier than ever for this kind of information and insight.

Buyers are removing salespeople from the buying process
What this all means is that buyers are really trying to remove salespeople from the earliest stages of the buying process. They want to become as informed as possible about current trends and their buying options before they ever speak to a salesperson.

This is where we as marketers need to provide more content—but not sales content. This content must be like what the press used to provide, objective, idea-based, and educational—not selling. Put another way, we have to use content to establish a relationship with buyers where our salespeople can’t. And we have to continue to build that relationship over time until those buyers are ready to talk to us.

That’s why lead management automation is important. It’s too difficult to track that relationship and know when someone is ready to do more than just read your white papers unless you have a process for lead management and can automate it. You have to be able to connect content with behavior with action. That’s not possible manually. It just won’t scale.

What do you think? What is stopping your company from creating an automated lead management process?

13 questions about social media and idea marketing

October 1, 2010 by Chris Koch

Earlier this week I participated in one of MarketingProfs’ TechChats (just do a Twitter search on the #TechChat hashtag to find the dialogue).

It’s a warm-up for the great dialogues we’ll be having at MarketingProfs’ SocialTech conference later this month in San Jose, where I’ll be speaking about social media and the B2B buying process. If you’re in B2B marketing, you gotta go to this thing. All the top social media pros will be there and the focus will be all B2B. I can’t wait.

MarketingProfs’ Megan Leap came up with some excellent questions for me about thought leadership and social media for this week’s TechChat. My answers sparked a lot of debate, so I’ve put them together for you here to see if they will spark the same kind of discussion here. (As an extra added bonus, due to Twitter’s typical evening queasiness, we weren’t able to post all the questions during the appointed hour. So they are all here for your enjoyment.) Please add your thoughts!

Q. Let’s get back to the basics. What exactly IS thought leadership?
A. Ideas that educate customers and prospects about important business and technology issues and help them solve those issues—without selling.

Q. Why should B2B companies try to be thought leaders in their industry?
A. Because online search has become so important to the B2B buying cycle. Content is replacing salespeople in the earliest stages of the buying process. If buyers find your content you’re a step ahead.

Q. What are some ways B2B marketers can position themselves as thought leaders?
A. Marketers can never be thought leaders! Especially in social media, their subject matter experts need to take center stage. But marketers must lead and support SMEs in the development and publishing processes. http://j.mp/8YsPBg

Q. What are some ways B2B marketers can improve their thought leadership?
A. By investing more in the idea development piece of thought leadership. Marketers today are too focused on the publishing part. Another way is by picking themes to help guide your TL development. Smarter Planet helps SMEs at IBM focus. http://j.mp/dzaioo

(Note: At this point, we had a lot of discussion about how ITSMA divides thought leadership into two pieces: development and publishing. Some people thought that publishing was too limited a term for describing the process of getting your ideas packaged up and out into the market. My feeling is that it is apt, because the best model we have for doing this is publishing—i.e., traditional media companies. Just because their business model doesn’t work anymore, that doesn’t mean that their model for developing ideas and getting them out into the marketplace should also be tossed out. It works.)

Also at this point, participants started a really interesting debate about the qualities of a thought leader—but that dialogue is too long to reproduce here—you’ll just have to check out the hashtag!)

Q. Who should be in charge of developing thought leadership? Marketing? PR?
A. Marketing. Marketing has more peer relationships with thought leaders inside the company than PR. Marketing is helping develop offerings.

Q. What social media vehicles are best for promoting B2B thought leadership? Video, blogs, Twitter?
A. Whichever channels your prospects are interested in receiving it and at the stage of the buying process they are at. Research them!

Q. How can marketers integrate thought leadership with traditional marketing tactics?
A. ITSMA research shows that nothing comes close to peer networking and small-scale events. So we should find ways to use social media to support and enhance the live meetings. IBM does that. http://j.mp/c9fWuX

Q. What are some qualities of a good social media voice? (Yes, stole this one from your blog 😉
A. I see 15 qualities, but if it had to pick the top one it would be authenticity. More about it here: http://j.mp/cdcbo9

Q. What are some examples of B2B companies who are successfully using social media and thought leadership? Companies who aren’t?
A. I think B2B companies that have social media policies are ahead of the game in using social media and thought leadership. Companies that don’t let their SMEs talk are going to fall far behind.

Q. Let’s say you market a highly commoditized industry. Would you say thought leadership is even more important?
A. I think it’s important for any B2B company. Anywhere there’s a business process you have the possibility to create thought leadership. That’s where the trade magazine explosion of the 60s-90s came from. Heck, I remember a trade magazine about coin-op laundromats! Everyone wants to improve what they do and how they do it. .

Q. Where will social media and thought leadership be in 2 years?
A. More integrated. Companies and customers and prospects will have a more continuous relationship than they do today. Marketing is still very episodic today, even with social media.

Q. What works better: a blog with a multi or single author approach?
A. I think single authors work best, but it’s much more work and can distract from the brand. I see companies adopting multi-authors for that reason (brand defense). But in B2B, people want to connect with other people, not with brands. Most multi-author blogs are really boring, with few posts and even fewer comments.

Q. How can B2B marketers measure their thought leadership investment?
A. There is no measurable ROI from thought leadership. Period. You will never track it through to a sale and if you do, you’ll never be able to separate it from other factors affecting the sale. I wish the pundits would stop selling that fiction. But I guess it keeps consultants in business. Thought leadership has a role to play, but it’s more to do with building a relationship than making the sale. Content builds intimacy between the company and the prospect until you can put them in touch with a salesperson.

Like these answers? Hate them? Have something to add?

13 qualities of a good social media voice (christopherakoch.com)
Why our thought leadership is broken (christopherakoch.com)
Am I a thought leader? (e1evation.com)

Filed Under: Idea Marketing, Latest Post, Social Media Tagged With: B2B marketing, Blogging, Business, IBM, Idea Marketing, marketing, Marketing and Advertising, MarketingProfs, Social Media, social media management, TechChat, Twitter

Have you created a waking dream for your customers?

July 16, 2010 by Chris Koch

: Image via Wikipedia

I’ve been reading through applications for ITSMA’s Marketing Excellence Awards this week and I have been blown away by the quality of innovation and creativity that’s going on out there among our members (and other B2B companies)—I mean, I’m talking about a quantum leap over what I’ve seen in the three years that I’ve been mingling with these folks.

I can’t name the specific companies because we’re still in the midst of the judging process, but it doesn’t really matter because the stuff is so innovative.

For example, in the three categories I’ve looked at so far (there are six categories altogether), we have one company using analytics to predict customer buying patterns (and this ain’t diapers or laundry detergent, ladies and gents—we’re talking six-figure jumbles of complex products and services here). Another company is using automated algorithms to seek out and deliver targeted customer and competitive intelligence to salespeople—on a daily basis!

Okay, so you might expect technology companies to do this kind of sci-fi geeky stuff (they do, in fact, employ rocket scientists, after all).

From marketing event to marketing retreat
But there is some real creative marketing thinking going on, too.

One example stands out for me. It’s an attempt to take a typical high-level executive event and transform it into something resembling a retreat. Through intense screening and prepping of attendees and a tightly managed agenda of facilitation, they take these executives out of their work lives for an entire week to think together.

Can you start to see how this would take us way past the level of the typical conference (assuming you had the clout to blast through the brick wall surrounding these peoples’ schedules) and into the I-love-you-man territory of life-altering bonding between customer and provider?

Sometimes, providing a fallow field for customers to create their own thought leadership is in itself the very highest form of thought leadership.

Why?

What is a waking dream?
Because you are helping them create a waking dream to play with.

You probably know what I mean by waking dream. For me it only happens when I’m reading a really good book (as opposed to a really good movie) because not only does time stop, I become engaged, and I stop thinking about the pyramid of human needs, but I start to create a vision—my vision—of the words that I am reading. The writer tees up characters, dialog, and plot for me, but I’m the one who realizes the scene, sees the faces, and draws the emotions.

I’m guessing this is one of the reasons that bad books sometimes make great movies; the director has that much more freedom to create that waking dream for him or herself and then build it for the rest of us.

That’s also why the best movie I’ve ever seen (for me, the Godfather) still pales next to the best book I’ve ever read (War and Peace) because I own the vision of Pierre lying on his back in the middle of a horrific battlefield and looking up to see the most beautiful blue sky imaginable. (I get to place the sounds, smells, clouds and the colors.) Coppola was just leading me by the hand through his vision of the Godfather (and I’m really grateful that he did, don’t get me wrong).

Dragging us back to marketing (sigh), this is what good thought leadership has to do. Through our events, white papers, videos, whatever, we must prepare our audience to experience that waking dream.

Can you imagine that putting some of your customer peers through a well-managed event over the course of a week could give them that kind of space? I can. Very cool.

How to create the dream
Since not all of us have the budget or ability to do that, however, let’s come up with ways that we can create waking dreams for our customers through our marketing. Here are a few ideas for that blatantly stolen from the tricks that novelists, playwrights, and directors have been using for centuries.

Awaken personal aspirations. Most of us say we want to have dinner with Abe Lincoln because when we see his unmistakable face it creates a waking dream in us about the kind of person we’d like to be (and how far we still have to go).
Create emotion. They say that true art is that which makes us feel something—anything—strongly. But all of us have the power to stir the kind of emotion that takes us out of the moment and “gets us thinking.” The trick is to do it in a way that leads to constructive thinking.
Use empathy. Evolution has designed us to have empathy for others. We enter waking dreams when we see the specific pictures of people in Haiti still living in the same shacks they put up six months ago when the quake first hit. We just have to design creative ways to bring it out so that it results in better relationships and ideas.

I think there must be many more than this. Can you please suggest some?

Filed Under: Uncategorized Tagged With: B2B marketing, Creativity, Dream, ITSMA, ITSMA Marketing Excellence Awards

Why serious games are a serious form of idea marketing

July 9, 2010 by Chris Koch

: Image by Getty Images via @daylife

I’ve been looking at the growing connection between gaming and thought leadership this week. I know, I know. It’s hard to utter thought leadership in the same breath as video games, avatars, and conversation balloons, but all of these pieces have converged.

Turns out that video games have a role in making the complex (i.e., almost every B2B service ever created) explainable.

Think about it. Case studies are great for building trust, but they don’t do something that video games do by default: put the user at the center of the experience. Ask anyone forced to sit out a video game session while his (gamers are mostly guys) friends play and they’ll tell you that experience trumps observation every time.

Games destroy complexity
An example of what I’m talking about is IBM’s Innov8 online game. This game deals with two of the most complex issues in B2B technology today: business process management (BPM) and service oriented architecture (SOA).

Now in its second generation, the game is part PlayStation and part knowledge management repository. It aggregates some of the typical decision scenarios that IBM customers must make when trying to improve processes in three major areas: customer service, supply chain, and transportation.

In the customer service game for example, you learn through some earnest virtual characters that there are two big issues in BPM for customer service. First, after receiving advice from virtual characters you get three chances to map the process—i.e., how should calls flow through to our call center?—with points for picking the most logical flow. Second, you play with business rules for automating the processes you’ve just mapped—i.e., if we want to cross-sell and up sell, what percentage of calls should be routed through our most experienced call representatives vs. our less experienced (and less costly) representatives?

The connection between gaming and thought leadership
The game succeeds in a number of ways. First, it frames the discussion of BPM in a way that makes sense and that connects it to business results. Second, it establishes IBM as an expert—after all, if you developed the game, you must understand how this is done, right? Finally, as you play with the business rules and see the impact they have on revenues, you get a visual, visceral demonstration of the role that IT automation plays in business performance—which helps IBM sell its Websphere SOA software (the stuff that enables the automation).

They call these things serious games. I think they will force us to seriously rethink our approaches to thought leadership. What do you think?

Integrating mobile into B2B marketing (christopherakoch.com)

Filed Under: Idea Marketing, Mobile Marketing Tagged With: B2B marketing, Idea Marketing, Marketing Strategy, Social Media, Video game

How to build emotional engagement in B2B marketing

April 2, 2010 by Chris Koch

I got a really interesting question last week through my Skribit box: How do you use emotional engagement when talking about dry technology?

This may be the ultimate question in B2B, especially as we struggle to integrate social media into the overall marketing mix.

Let’s face it, even if it was possible to curl up in front of the fire with a glass of wine and our B2B products and services, no one would do it. Most of the things we sell are about as emotive as army ants.

That’s why I’m going to answer the question (and invite accusations of copping out) by saying that we shouldn’t try to use our dry technologies as the basis for emotional engagement.

We have to stop torturing ourselves trying to write interesting things about our dry technology. That’s what has led to the horrific vocabulary of mindless marketing speak that makes us utter things like “demonstrable value” with straight faces while deluding ourselves that it leaves an impression on customers. (Hey, it was the best thing we came up with at the meeting, so why wouldn’t customers like it, too!?)

Where are thepeople and the stories?
Journalism has long understood that people respond to other people and to stories. Those two things are built into the process. You get fired if you don’t interview people and feature them in your story. And you never get any interesting assignments if you aren’t able to communicate information through a narrative structure—a story with a number of star characters and a beginning, middle, and end.

It’s the same in B2B. It’s why our latest ITSMA marketing budget survey shows (free summary available)that thought leadership has risen to a higher priority level than in any recent year. Ideas can create an emotional connection. Okay, so it’s not big emotion, but it hits some buttons:

Gratitude. This company understands my pain
Loyalty. I may need to keep an eye on these guys in case they say something else that moves me.
Respect. These guys are smart.

: Image via Wikipedia

But for all of these things to hit, customers need to be able to connect them to people. Social media offers some new ways for us to build emotional connections with customers by connecting them with other people and their stories. (Ever wonder why Sockington is so popular? Even making a cat more like a person works.) Blogs let us feature our subject matter experts (SMEs) not just as brainiacs but as people that customers can eventually feel comfortable reaching out to directly. Twitter, LinkedIn, etc. all do that, too.

But let’s not get too hung up on social media. This has to permeate all that we do. It’s why those expensive private events work so well.

What do you think? How do you use emotional engagement when talking about dry technology?

How to get others to blog (christopherakoch.com)

Filed Under: Blogging, Customer Relationships, Social Media Tagged With: B2B marketing, Blogging, Business, LinkedIn, marketing, Social Media, Subject matter expert, Technology, Twitter

How to use social media for B2B

March 19, 2010 by Chris Koch

: Image by HubSpot via Flickr

I want to do something ambitious and I’m hoping you’ll help. I’d like to create a guide for how to use social media in B2B that does not involve talking about the specific tools—as least not in the top line.

I think it’s important to try to do this if we’re going to get social media integrated with the rest of marketing. It’s also important if we’re going to stop talking so much about the tools and start talking more about what to do with them.

I started trying to do this a year or so ago by talking about the four components of social media management. I wanted to focus the discussion on things that we differently in social media. Here they are:

Monitor. Find and track the relevant conversations in social media and online.
Engage. Take an active role in social media by engaging with customers and influencers in the various forums where conversations are taking place.
Manage. Take an active role in facilitating and managing conversations, such as creating a blog or community.

The next step is to categorize how we use social media in these different areas and how our actions hook back into the rest of marketing.

Monitor

First, here’s what we do as part of monitoring:

Track conversations about your company. You need to know what’s being said about your company online. Pretty obvious, right? Trouble is, we’re finding in our research that most companies stop here. There’s much more that we should and could be doing with monitoring.
Develop a target audience. Monitoring can be used to discover customers and prospects that are most relevant for your offerings by observing the patterns and topics of their conversations. All of the major social media tools have search capabilities, and there are specialized monitoring tools that have more powerful searching abilities. Offline research and segmentation are important pieces of this effort.
Discover influencers. By monitoring conversations online, we can find the people inside and outside our companies that say smart things. Monitoring tools help determine how much impact these smart things are having on our target audiences. For example, the number of RSS subscribers bloggers have, the number of comments to the blog post, the number of page views, etc.
Gather research. Social media are repositories for discussions and content on every possible topic. Search tools can help you mine that data.
See the distribution of conversation. Some monitoring tools let you segment the different types of social media to determine where conversations are happening—such as blogs vs. Facebook.
Trend the conversation. Some of the tools let you analyze the direction and popularity of conversations over time. This is helpful during important periods like new offering launches or in the aftermath of a crisis.
Determine share of attention. You can track the amount of conversation about you versus your competitors.
Identify influential sources. The tools can determine the popularity of conversations and the sources of those conversations. This helps you decide which blogs you’d like to do outreach with, for example.
Locate the conversations. Some of the tools let you see the geographic locations of people involved in the conversation.
Track propagation. Track a comment from a blog post all the way through to mainstream media.

Engage

Here are the things that we do to get our companies involved in the social media conversation:

Identify subject matter experts (SMEs). It’s up to marketing to find SMEs who can engage in the conversations that are most important to your target audience.
Assign SMEs to engage with key influencers and/or topic areas. Think of this like the old beat system in newspapers. You want to have someone knowledgeable get involved in the most important and relevant conversations. Marketers and PR people can help by monitoring conversations and alerting SMEs to the topics and conversations they should get involved in.
Create social media policies for engagement—and support them. One of the things that’s new about the social media conversation is that engagement can’t be vetted by PR. We have to trust employees and SMEs to engage on their own, otherwise our conversations become stilted, one-way messages. Social media policies help the organization understand how to engage without getting in trouble. Some organizations have created support channels for employees to ask questions about the guidelines. Others have set up training programs for employees who will engage in social media.
Gather information by asking questions. Asking for information helps deepen social media relationships. Taking a poll in a LinkedIn or Facebook group, asking for input from Twitter followers, or asking for information through comments on blogs are some of the ways to gather information. If you can link to a survey and promise respondents some level of access to your findings, you can create a powerful source of information.
Build influence by answering questions. Social media is all about sharing—whether that be pointing to good content (yours and others’), or sharing expertise and experience. By pushing SMEs to engage with the target audience in these ways, you help them build up trust and loyalty among customers and prospects.
Create continuity. As we start showing up regularly in social media, we build up a sense of regular connection with our target audiences. That, in and of itself, helps build trust and stronger relationships with audiences. This sense of continuity helps fill in the gaps in communication that we have with the traditional campaign style of marketing. For example, when SMEs speak at conferences, they can engage conference attendees before, during, and after the event to follow threads of conversation through to their conclusion.
Promote other types of marketing. By engaging, we can share links to the various other forms of marketing content that we produce, such as white papers, events, Webinars, etc.
Seed discussions. Using social media, we can drive interest in other forms of marketing by posting provocative questions or information. For example, posting a link to a survey that you reference in a white paper or will discuss in an upcoming event helps drive interest—and may even provide valuable research.
Get people together. B2B buyers value peer connections above all else. By having your influential SMEs help introduce them to one another, you can help build a stronger relationship.
Locate others. Using mobile applications to engage with others is going to become important in B2B in the coming years. Knowing where others are at any given moment will give marketers opportunities to link peers at conferences or to have real-time conversations, for example.
Build loyalty be being timely. SMEs that can be counted on to contribute to conversations quickly will become very popular among their social media followers.

Manage

In our ITSMA research, we’re starting to see marketers manage conversations through social media, whether it is groups on LinkedIn and Facebook, blogs, or private communities. Managing the conversation takes more time and resources, but it can pay off in a number of ways:

Develop and test points of view. Managing the conversation through vehicles like blogs and communities gives you a ready test bed for getting help and feedback on ideas that you are trying to develop into thought leadership.
Extend conversations. Managing the conversation gives you a way to keep your target audience’s interest by bringing in conversations from other marketing channels and giving them a permanent home.
Closely observe behavior. By capturing a target audience within your own community, you can get much richer data on their actions, needs, and interests.
Reuse and re-purpose. Managing the conversation gives us ways to stretch our content further. Blog posts can riff on other marketing channels or revisit pieces of them. The episodic nature of blogs and communities lets us sprinkle content through them like bread crumbs in the forest.

Does this all make sense to you? What would you add? Please help with your comments.

There is no social media strategy, only marketing strategy (christopherakoch.com)
There is only one objective in social media: create learning networks (christopherakoch.com)

Filed Under: Blogging, Social Media Tagged With: B2B marketing, Blog, Blogging, Business, Facebook, ITSMA, ITSMA Research, LinkedIn, marketing, Marketing and Advertising, Social Media, social media strategy, Twitter

Social media raises the bar for customer intimacy

March 12, 2010 by Chris Koch

Social media is raising the bar on customer intimacy.

Though it has become a generic term, customer intimacy was first coined by Michael Treacy and Fred Wiersema who worked at CSC/Index back in the 90s when I was a thought leadership marketer there. Rooted in Michael Porter’s timeless work in business strategy, Treacy and Wiersema took it a step further with their three “value disciplines.”

The theory is that every company competes in three disciplines:

Customer intimacy. These are companies that go out of their way to build close customer relationships. They are focused on lifetime customer value and are willing to incur short-term costs in order to build long-term loyalty and satisfaction—Nordstrom and Amex are a couple of B2C examples.
Operational excellence. Customers rely on these companies to deliver reliability and quality at a low price. FedEx is an example, having invented the guaranteed overnight shipping model.
Product leadership. These are companies that rely heavily on innovative, exciting, status-conferring new products to hold customer interest. Apple is the most obvious example here (Sony used to be).

Treacy and Wiersema argued that all great companies strive to be leaders in one of these disciplines while maintaining a reasonable level of parity with competitors on the other two. Though the theory was criticized at the time as being overly simplistic, it has held up remarkably well and continues to strike me with its simple (not simplistic) clarity.

Where’s the customer intimacy revolution?
You could argue that two of the three disciplines have already had their revolutions. The quality movement let most companies achieve a high level of reliability and consistency (for example, most car companies score very closely in quality rankings these days), and the venture capital movement (along with 3-D design software) has created a ready avenue for unknown product innovators to gain the spotlight.

Customer intimacy has remained the poor stepchild. There has been no revolution—no breakthrough in process or practice to raise all boats. Hard to manage and to scale, highly reliant on the vagaries of human nature, most companies continue to have poor relationships—or worse, no relationships—with their customers.

Social media is making that fact plain.

But you know, I’m tired of hearing people say we need to get closer to customers. Where’s the 21^st-century revolution—the customer intimacy version of the quality movement—to show us how? We’re all struggling to move from the traditional arm’s-length, temporary campaigns to the always-on, direct relationships inherent in social media management.

The good news is that we may look back on social media as the movement that made high levels of customer intimacy as achievable as product quality seems today.

Intimacy through content
I think so because social media is starting to give us a way to scale intimacy. We can do it with content.

Social media reduces the incremental cost of content. We know that in B2B, customers and prospects respond best to ideas, news, research, and how-to—not sales pitches.

Social media is a channel for raising the level of intimacy that we have with customers and prospects with that content. Think of social media management as filling in the gaps. Chunks and snippets of white papers sprinkled through social media like breadcrumbs in the forest let us deliver value and build trust by providing content at a higher level of frequency. Social media that connects one live event with the next one lets us continue to build the relationship. Most of this is content we were going to produce anyway. Social media lets us spread out the cost while also increasing the frequency of touches.

Unspoken intimacy
We tend to think of intimacy as being personal—something for the salespeople. But we can do it by reliably delivering valuable content. Magazines have been doing it for years. Consistency, relevance, and quality create a very intimate relationship with readers. I will never forget the live encounters I have had with readers while attending trade shows when I was at CIO or my bike magazine—people I had never seen or spoken to before—who approached me to tell me how much they loved or hated my magazine without even introducing themselves. In their minds, they had already developed a deeply intimate relationship with the content that they associated me with, and they felt passionately enough to speak it to a complete stranger because I was associated with that content.

It was very easy to strike up a conversation with those people because we already had a lot in common. And I knew that I would probably never see or hear from many of them again because I didn’t have a channel for communicating with them directly once we parted ways—except through the articles I wrote and edited. Few people bothered to write letters to the editor, just as few people contribute to communities or post comments on blogs today. But that doesn’t mean that the intimacy isn’t there. Our intimacy exists mostly through the content—we just have to find ways to surface it.

Social media increases the frequency of those kinds of contacts. I can’t help but think that as the different social media channels continue to evolve, customer intimacy is going to take a leap forward.

What do you think? How should social media evolve to let us create customer intimacy more easily and economically?

Filed Under: Customer Relationships, Social Media Tagged With: Apple, Business, Customer Intimacy, Internet Marketing, marketing, Marketing and Advertising, Michael Porter, Operational Excellence, Product Leadership, Services, Social Media, social media management, social media strategy, Value Disciplines

How social media will change lead generation in B2B

February 26, 2010 by Chris Koch

The era of the sales process beginning with a lead is over. The number of B2B buyers who are ready to buy as soon as they engage with our marketing is small—and social media will make it even smaller.

We have to come to terms with the fact that there is a stage of the buying process that comes before the buyers we are pursuing are ready to become leads.

We call it the epiphany stage.

This is the stage that occurs long before any discussion of products, services, or RFPs—indeed, it occurs before customers have even begun to think about a purchase.

However, there is something important that happens at this stage: It is the point at which customers come to the realization of an important business need.

This is where social media comes in. As social media expands our opportunity to reach people who have never heard of us or our services, we need to be prepared to engage them during the epiphany stage. We are trying to generate demand during this stage, not create leads, because these people aren’t ready to become leads. We have to generate demand before we can generate a lead.

The best way to do this is with thought leadership. We need a content engine capable of gaining the attention and respect of people who have never heard of us before. These people are not leads—they are not ready to be contacted by anyone. But they may be open to building a relationship that could someday lead to a sale.

These people are prospects, not leads. The way we turn prospects into leads is to gain their trust. We gain their trust by reaching out to them with smart, engaging, educational content. The trust leads to a more personal relationship and hopefully, a purchase. As I said in my last post, social media simply makes starkly plain what we’ve known for some time but haven’t had to face yet: We don’t have a lot of content capable of generating trust and relationships. We need to create that content.

But getting to that realization requires that we first acknowledge that there is a whole world that comes before a lead and before the interest phase of the buying process. We need to see that we are ignoring many people who aren’t leads. If we ignore them, they may never know that they need something that we have to offer.

What do you think?

Before Nurturing a New B2B Lead, Ask the Golden Question (thecustomercollective.com)
There is no social media strategy, only marketing strategy (thecustomercollective.com)

Filed Under: Lead Management, Social Media Tagged With: B2B marketing, Business, Customer, Interpersonal relationship, ITSMA, Lead Generation, marketing, Request for proposal, Sales, Sales process, Social Media

There is no social media strategy, only marketing strategy

February 24, 2010 by Chris Koch

: Image via Wikipedia

I’ve been working with my colleagues at ITSMA on another survey on social media for B2B marketers that I hope you’ll take by going here.

As we put together the questions, we struggled with the issue of social media strategy. I resisted treating it as a standalone in the survey. I’m hoping that all the articles, books, and blogs I’m seeing that look at B2B social media strategy in isolation are a function of our excitement over this new channel (and don’t get me wrong; it is really, really exciting).

I’m also hoping that the excitement (and the needs of social media consultants and authors to drive their businesses) will not drive us to distraction. B2B marketing lays the path to a sales discussion and supports relationships with existing customers. Social media is another channel—one of many—for making the connection and building the relationship with customers.

Social media is no silver bullet. Other channels are more effective for reaching high-level B2B buyers—and that situation may never change. I say this even after discounting ITSMA’s recent research showing that marketers don’t see social media as being very effective components in their marketing strategies. It’s clear that social media are still new and most B2B marketing groups haven’t gotten the hang of them yet. It’s too early to reach any definitive conclusions on effectiveness.

It’s tempting to say that because B2B sales are highly dependent on relationships, social media will eventually reign supreme. But I think the nature of B2B makes it harder for companies and customers to have a satisfying relationship that’s entirely virtual than it is for B2C companies.

We all know that B2B decisions take a long time and are made by committee and logic rather than individuals and impulse. It’s hard to imagine that kind of a complex, long-term, multi-person relationship ever happening entirely or even mostly in social media. At the C-level especially, face-to-face remains the killer app for everyone involved.

What’s been proven to work in B2B is for marketers to reach out to prospects with smart, engaging, educational content that leads to trust. The trust leads to a more personal relationship and hopefully, a purchase.

Looking at social media in isolation distracts us from the real revolutionary trend, which is that marketing strategies need to shift to an emphasis on content and relationships.

Social media simply makes starkly plain what we’ve known for some time but haven’t had to face yet: We don’t have a lot of content capable of generating trust and relationships.

Trust comes from buyers deciding that providers are as interested in their concerns and needs as they are in selling stuff. The only way we can do that is by providing a range of different content—thought leadership, news, education, training, support—in a range of different channels—events, white papers, communities, private meetings—at all phases of the buying cycle.

If you look at social media in isolation, you’re not going to see the larger strategic issues until they slap you in the face—blogs with nothing to write about; LinkedIn groups with no substantive conversation; Twitter streams that link to nothing but brochures and press releases.

That’s why I’d love to see the social media conversation turn more towards integrating social media into the overall marketing mix and arming marketers with the additional skills they need to make it happen. It’s why I left strategy and metrics out of the four components of social media management. The strategy is a marketing strategy and the metrics should happen across everything you do. I’m trying to get at the issues of integration in our survey, and will report on our findings.

What do you think? Are we overemphasizing social media strategy at the expense of overall marketing integration? Please let me know.

Social media isn’t enough. We need a marketing transformation. (christopherakoch.com)
Why B2B marketers hate social media (christopherakoch.com)

Filed Under: Idea Marketing, Marketing Strategy, Social Media Tagged With: B2B marketing, Business, Business-to-consumer, Idea Marketing, ITSMA Research, LinkedIn, marketing, Marketing and Advertising, Marketing Strategy, Mass media, social media strategy, Twitter

There is only one objective in social media: create learning networks

January 8, 2010 by Chris Koch

There is too much wringing of hands and gnashing of teeth about social media objectives and strategy these days. We all assume that our organizations are unique and that we must devote great sums of time and money to figuring out what our particular motivation is for social media and how we will carry it out.

We’re wired as humans to believe that we are each unique and different—indeed, this perception shoulders the bulk of our self-esteem. And yes, we are all unique. A little. But in most things, we’re the same and we can usually acknowledge that.

Not in our businesses, though. In the course of hundreds of interviews with companies over my career, the “yes but we’re different” mantra was a familiar refrain. Companies that made commodity products would tell me with straight faces that even their financial processes were unique—GAAP be damned—and that they needed to customize their software to fit “our ways of doing things.” This also meant they paid millions extra in consulting fees to change the software and millions more the next time they wanted to upgrade their software.

I find that we’re applying the same logic to social media. Let’s sit down and figure out our unique objectives and strategies before we do anything.

Now don’t get me wrong. I’m not saying we shouldn’t have objectives and strategies for social media. I’m just saying that we shouldn’t assume, as we do by default, that ours are much different from anyone else’s.

There is only one objective in social media and it is common across all companies—even across the infamous divide between B2B and B2C: Create learning networks.

And there is only one strategy for carrying out this objective: Find people who are good at developing and disseminating ideas to contribute to and facilitate those networks.

That’s it.

What is a learning network?
The reason I say this is that another hard-wired part of us is the desire to learn. And learning is integral to buying—especially in B2B. Recommend products and services that you haven’t thoroughly researched and you will most likely be out of a job.

But it also applies in B2C. Toyota’s market share wasn’t built by Toyota’s marketing; it was built by Consumer Reports.

Every buyer wants to learn at all stages of the buying process. But no buyer wants to be sold during all stages of the buying cycle.

The purpose of social media is to create learning networks that buyers want to join. The enticements are ideas and education. That means social media are extensions of our content development and dissemination processes. By creating content that offers relevant, timely, and useful ideas and education for buyers at all stages of the buying process, we create the incentives for buyers to engage with us in conversation and community. Whether it’s blogs, Twitter, LinkedIn, or private communities that we build ourselves, the common thread is that by focusing on learning we build and retain buyers’ interest.

Here are the key elements of learning networks:

Create an internal learning network. You need to build an internal network that focuses on identifying internal thought leaders and building alliances with external academics and customers who can help develop and test ideas. Primary and secondary research provides the inspiration for some ideas and the objective justification for others. Internal knowledge share sessions and reward and recognition programs provide the motivation for thought leaders to emerge inside the organization and help imbue a thought leadership mindset into the culture.
Create a content development process. Using ideas from the learning network, marketing needs to develop content. Marketers must become publishers, with a process for refining and presenting thought leadership content through various vehicles, (such as conference presentations, white papers, social media, etc.). Marketing needs professional content developers who know how to collaborate with thought leaders to develop clear, compelling packages. A calendar helps marketing plan out the frequency and focus of its output. Marketing needs to develop materials that are appropriate to each stage of the buying process, so that customers and salespeople can get the right information at the right time. Marketing and sales need to agree on the alignment of content to the different buying stages so that sales will get the right signals about when and how to approach customers for a sale.
Integrate the internal learning network and content processes with social media. Your internal learning network should integrate with the ones you want to build for customers. Internal thought leaders should use social media as a test bed and developing ground for ideas that they later disseminate in more polished form. So for example, a tweet or a posting in a LinkedIn forum leads to blog post, which leads to a video, which leads to a conference presentation, white paper, or private event for top customers.

If learning is the objective, the rest falls into place. Idea- and education-based content is the fuel for building community. The rest is promotion.

What do you think?

Filed Under: Idea Marketing, Social Media Tagged With: B2B marketing, customer collaboration, Idea Marketing, Marketing Processes, social media strategy

Search Results for: thought leadership

Have you created a waking dream for your customers?

Chris Koch

Subscribe via RSS

Subscribe via Email

Search

Popular Posts

Recent Comments

Twitter Updates

Blogroll

Categories

Search Results for: thought leadership

Related articles by Zemanta

Related articles by Zemanta

Related articles by Zemanta

Related articles by Zemanta

Related articles by Zemanta

Related articles by Zemanta

Chris Koch

Subscribe via RSS

Subscribe via Email

Search

Popular Posts

Recent Comments

Blogroll

Categories

Tags