We’ve just returned from the IFT show where the food science and technology industry, including several Boomm clients, gathered to exchange ideas and launch new products. One interesting piece of research has caught our attention. According to a presentation from Mintel titled “Simple ingredient statements: clear language for confused consumers,” the effectiveness of product claims on packaging is beginning to shift. What has been a trend to showcase product benefits that address specific health factors is showing to be less effective than showcasing product benefits that address overall health.

According to the report: “We see the growth of ingredient statements that are shorter and easier for consumers to understand. While some product categories ideally lend themselves to simple ingredient statements, we are seeing simplification across most food and beverage categories. The shift is not only a consumer pull but also a manufacturer push, as companies look for ways to simplify production and reduce costs.”

The upcoming 4th of July weekend has us thinking about the aspects of marketing that most challenge our clients. Too often, we hear that they feel captive to a website they really don’t like. Struggling to come up with a strategy and budget and to set priorities that will put changes in motion, marketers end up living with an online presence that doesn’t live up to their own standards.

At Boomm, we’ve developed a simple, four-step model that provides the framework through which marketers can evaluate needs and define outcomes:
Brand Positioning
Competitive Analysis
Audience Profile
Strategic Content Design

We’ve put it into practice for a number of clients. Check out our gallery to view examples of our work.

A new study out this week calculates just how much it will cost BP to get out of deep water — in terms of public opinion. Measuring media value by converting sentiment and exposure, based on online mentions, to an equivalent advertising dollar value, estimates show that BP will have to spend a Billion dollars to counter negative mentions with controlled media placements.

What can marketers take away from this info? BP has demonstrated, in the harshest terms possible, the value of protecting the brand up front and through crisis.

BP Oil Spill Media Value Snapshot

B2B Marketers know that it’s key to engage customers whenever, wherever opportunity strikes. We’re looking at ways to use technology to help the process. For example, in the trade show environment QR Codes (square, two-dimensional bar codes) can be used to allow attendees, equipped with their smart-phones, to scan and launch a specialized web page, coupon offer, order process or interaction.

Here’s an interesting article that describes how attendees at South by Southwest used QR Codes to interact with brands, events, booths and exhibitors.

This month, Nation’s Restaurant News shared their benchmark study, Insights into the Decision-Making Process at Today’s Chains, with Boomm.  The research is valuable in that it gives us insight into operators’ top concerns and how suppliers can address their  needs.

Click here to download now.

This week, eMarketer released data that shows which social media components b2b marketers consider the most effective pieces of their marketing mix.  Facebook tops the chart, followed by LinkedIn and Twitter.  More than half of marketers in the study rated Facebook as “extremely” or “somewhat” effective.  The report went on to show that marketing spends on social networking sites is predicted to rise by more than 40%.

We’re back from the BMA breakfast roundtable where our friends at Google gave a great overview of the State of B-to-B Search.  A lot of good information was presented; here are some highlights:

• Large and small-business owners use search and social media more than you might expect.  64% of C-level executives conduct six or more searches per day to locate business information — and they conduct the searches themselves, choosing not to delegate the task.
• B-to-B searches on Google grew 139% since 2007.
• There are more than 1.5 million business searches daily on YouTube, making it the second most visited destination for business searches, behind Google.
• Small and medium-sized business owners are very involved with social media, with about half using blogs, wikis, Twitter and other social media channels for business purposes.

Roundtable questions from the audience focused on where search and social media belong in the sales funnel.  The answer?: Google’s research shows that search has great impact high in the funnel — in the awareness phase — as well as further down at the point of decision and purchase.  Their strongest recommendation is for a well integrated approach whereby off-line media are working with a strong online advertising strategy to drive search actions.  We couldn’t agree more.

One last thought:  The industry has shown that the business audience is there and the medium is currently under used in this setting.  Now it is up to b-to-b marketers to catch up to to the practices of their consumer facing counterpoints.

Everyone seems to be discussing the importance of using social media to connect with customers these days. But, marketers are taking a hard look at whether or not social media is a tool that even applies to the B to B marketplace. Boomm is working with clients in a number of industries to develop social media strategy, and in our next several posts, we’d like to share some industry trends and examples that show how social media works for B to B brands.

The first question:  How much is enough?
This year, marketers are designating specific budgets to support social media initiatives.
Here are the latest numbers.

Social Media’s Share of the Online Budget

Here at Boomm, we’re taking a close look at interactive trends that will deliver cost-effective results for our clients. We like the US Interactive Marketing Forecast 2010 in which Forrester Research identified the top trends in integrated marketing through 2014.

Click here to download.

How long is your sales cycle? What does it look like? Has your marketing team used the answers to these questions to realize smarter, more successful outcomes?

As B2B marketers, we tend to devote considerable energy to executing programs that accomplish a single, discrete strategic goal, such as building brand awareness, launching a new product, promoting sales and so on. Care is taken to create rich, integrated marketing initiatives to effectively achieve these objectives.

However, we are less likely to schedule these programs to work as a cohesive whole within the context of the external marketplace and the dynamics of the sales decision-making process. If a marketing organization fails to target decision-maker behavior throughout the arc of the sales cycle, the odds against reaching prospects at the time when they’re ready to engage in a brand dialog — much less ready to buy — can be enormous.

Looking at the sales cycle and how to market to it requires treating the process as a continuum, recognizing that potential customers will engage in relatively typical and predictable behaviors throughout the cycle. Sales cycles, of course, vary in length and complexity from industry to industry, so thoughtful analysis is needed to identify the specific phases that comprise your business’s typical sales turn. That said, there are some basic steps that exist in virtually every B2B purchase process: Discovery, Rationalization and Partner Selection.

Discovery Phase
In this phase, customers are identifying needs, actionable market trends and gap opportunities. These findings can take various forms: the need for new equipment for improved operational efficiency, the opportunity to capitalize on a market trend or competitor weakness with new product innovation, etc.

Behaviors • When customers are in discovery process, they are fact finding, collecting trend data and conducting research in their own marketplace. They may be engaged in new product development, filling their pipeline with innovative ideas that will open up new markets or provide competitive advantage. At this phase, it’s apparent they’re not ready to buy. Little wonder your glossy, full-page product ad isn’t capturing full attention.

Opportunities • There are ways to engage your audience during this phase, however. Providing information on trends or sharing your own research that sheds light on the market at large gives your customers valuable information they can use now. Marketing initiatives that build or maintain brand awareness make an impact in this period.

Rationalization Phase
Customers begin rationalizing decisions at this point, by analyzing the organizational impact of potential purchase decisions or winnowing new product concepts down to finalists that will enter the marketplace. They may test concepts in the field or in focus groups. They will start to develop product specifications. They will still be collecting marketing insights, but these will be focused on the task at hand, with the aim to support and justify efforts.

Behaviors • Analyzing the impact of their decision – operationally, technologically, financially, competitively – takes center stage for customers. Internal or outsourced experts may guide the knowledge synthesis process, and project management commences.

Opportunities • At this point, relationship building becomes crucial.  Plan on impacting your customer’s project by clearly identifying your capabilities. Differentiate yourself by delivering resources that add value to the decision-making process.

Partner Selection Phase
This phase is where marketing and sales teams spend most of their time. Customers are now ready to “get down to business.” If you haven’t already started a brand conversation – with the goal of creating an indelible impression – making up for lost time may prove impossible.

Behaviors • Your customers are initiating RFPs, requesting samples and demos, and working toward building a list of approved suppliers or selecting a trusted partner.

Opportunities • Put your best foot forward with strong product and capabilities communications, backed with powerful service, support and other value-added programs.

Sales cycle marketing adds depth to your strategies by identifying where your customer is in the decision-making process, then delivering on phase-specific needs. The good news is that there’s a wide variety of marketing tools that will work effectively at various points in the cycle. Marketing efforts that build brand awareness work well early on in the cycle, while initiatives that build credibility and trust work well during innovation stages. Specific product communications, including sales promotion tactics, are optimized during specification and RFP phases. More good news: episodic tasking of marketing tactics drives cost efficiencies, and new web and social media marketing tools make these efficiencies even more pronounced.

Ultimately, attending to your customers’ changing needs throughout the sales cycle should result in more “wins.” Equally important, effective sales cycle marketing can improve the alignment of your marketing and sales organizations.
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Lisa Ryan is president of Boomm! Marketing & Communications a La Grange, Ill., based agency providing a full suite of brand marketing and communications to clients. She can be contacted at lisa@boomm.com.

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