Tag Archives: Brand Awareness

How Much Content Should You Share?

free_downloadIn the world of content marketing, every marketer must make a decision on what information should be provided openly, and what should require registration to access. Traditionalists will argue that the concept is straightforward – information that is more valuable should be deemed “worthy” of registration to gain access. With registration, however, comes an expectation of future follow up, be it in the form of a call or email from the sponsoring party. This knowledge dissuades the reading of your material, working against your desired objective.

Today these lines are blurring, which is causing some angst for those of us involved in content marketing.

What is the right balance? The answer is “it depends” … who are you are targeting, and what is your objective?

Who is Your Audience?

If you are targeting the millennials or younger audiences, forget about trying to gate any content you want them to actually read. They simply won’t do it. And, if they do, it will be with a “bogus” email address and contact information you won’t be able to use anyway. Here your best strategy is to post good content often and provide an easy way to share it across social media. This will get your message out. Over time, it will generate interest worthy of further discussion.

The next question is about what you want to accomplish.

What is Your Objective?

My experience has taught me that the decision to pursue content marketing really comes down to two reasons: Lead Generation or Branding. Of course, these goals are not always mutually exclusive. For the purpose of this article, let’s assume one objective can be seen as a primary goal.

If Lead Generation is your goal, then the purpose is to gain contact information for your target audience. That means some sort of registration is needed. But, that doesn’t mean registration is required for all material. Obviously, website content is listed openly for search engine indexing and visitors to read. The next level of interaction might be to offer more detailed or valuable content seen as valuable to your audience. An example might be a sponsored analyst market research report with data that is not readily available for free.

Dedicated landing pages should be prepared for such documents so you can best measure how many visitors landed on the page, and then how many of those visitors actually completed the form to access the content. Response rates can then be measured to evaluate if your message and content is appropriate, if it matches your audience’s expectations, as well as if it was deemed worthy enough to register to access.

But what about if your objective really isn’t to just collect names and contact info? What if you are trying to position yourself as a subject matter expert, which would then lead to new business? For example, what if you are a non-profit association serving your particular industry or market? What if the value you provide the marketplace is more based on influence or authority? And, if you can demonstrate you are an active, relevant voice in that marketplace, might it then be in your best advantage to openly publish content that is valuable?

Drawing the Line of Thought Leadership

It is under these circumstances that the decision of what to share gets tricky. If you are a “young” of new company, perhaps one that is still establishing itself in the marketplace, then providing access is probably more in your best interest to build street “credentials” and demonstrate you are a thought leader. Once you have built your brand awareness, however, then the research you perform will be deemed as highly valuable, and in most cases, worthy of purchase – beyond a simple registration page, but at a level where money is exchanged for your content.

A great example of a later stage company is Gartner, a research firm with 1,000+ analysts. Their reports are highly relevant and insightful – clients pay thousands of dollars a year to access this information. Gartner should not give away their content.

On the other end of the spectrum might be an industry trade association, say operating in an environment where significant industry changes are occurring and new competitive threats are now emerging. This type of organization might be short-sighted in believing that none of their content should be shared with the general public. At the current time, potential membership firms that aren’t yet a member are not likely to pay to gain access, but might be influenced to join if they believe such membership will position themselves (by association) as being part of a “leading” thought leadership group.

Another potential strategy is to release some of the information for free, and to request a different type of “payment” for the full report. This could take the form of providing three references, or to agree to participate in a future market research study. LNS Research has adopted this content marketing strategy, and has achieved success so far.

What is your strategy? Are there other options to consider? My recommendation is to adopt a blended strategy – give something away for free to entice engagement as well as please your younger audience. At the same time, other content should be at a level of value that your prospective audience is willing to “pay” in some way to then continue the engagement. Are there other ways to gate content such that a reasonable ROI on your content marketing program can be achieved? It would be great to hear from you.

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Filed under Branding, Content Marketing, Lead Generation, Marketing Strategy

Is there a Link between Customer Satisfaction and Loyalty?

customer_loyaltyFew would argue the importance of customer satisfaction. Every business owner strives for happy customers. In practice, however, what does it mean to achieve customer satisfaction? What makes a happy customer? Are they more profitable? More loyal?

Fortunately, considerable research has been performed on this subject, which will be quite helpful to address these questions. The first challenge is to understand what is actually going on versus what business owners think is going on. According to Lee Resources, 80% of companies say they deliver “superior” customer service, but only 8% of people think these same companies actually deliver this type of service. That is quite a perception gap. A big part of the reason why such a gap exists is that most unhappy customers don’t tell you – only about 4% – according to “Understanding Customers” by Ruby Newell-Legner.

Conclusion: for every customer complaint you receive, realize there might be another 25 you’ll never hear.

Why Care About Happy Customers?

Beyond the ethical and philosophical perspectives on why it is important to spread good will to others – happy customers are simply more valuable, so can add more profit to your business. Selling to an existing, happy customer is far easier than selling to a brand new one. The probability of a successful sale to a new prospect ranges from 5-20% … that success rate nearly quadruples to 60-70% if a relationship already exists (source: Marketing Metrics). Not only does the probability of closing a sale increase dramatically with existing customers, but the cost to sell to new customers is significantly higher – about 6-7 times greater. Lastly, about 91% of unhappy customers will not willingly do business with you again, which ultimately will shrink the pool of prospects you can sell to (source: Lee Resources).

From a public relations or brand awareness perspective, happy customers tell better stories to their friends, co-workers, and others. Anyone who has tried to get an unhappy customer approve a case study knows what I am talking about here … it just doesn’t happen.

Author Pete Blackshaw suggests that happy customers tell their stories to three friends and that angry customers tell 3,000 – at least in today’s world of social media connectivity. As it takes 12 positive experiences to make up for one unresolved negative experience (source: “Understanding Customers” by Ruby Newell-Legner), one negative experience can ruin a good relationship. The only one who will be happy when you deliver poor customer satisfaction is your competition. About 3 in 5 Americans (59%) would try a new brand or company for a better service experience (source: American Express Survey, 2011).

So What Makes a Happy Customer?

It turns out, a lot of happiness can be gained (or lost) each time an interaction occurs between your company and its customers. According to Matthew Dixon and Brent Adamson in their book “The Challenger Sale” (see page 47), they explain that customer satisfaction (i.e. happiness) is not the primary driver of customer loyalty:

  • 53% of customer loyalty is related to the purchase experience
  • 19% of customer loyalty is attributed to brand and impact
  • 19% of customer loyalty is based on product and service delivery

In other words, customer loyalty comprises many factors, some of which is tied to satisfaction with your product or service, some is tied to your brand – but most is tied to the purchase experience. Based on these figures, it appears that a loyal customer may or may not be happy; they may simply be content enough to remain a customer, but not necessarily “happy” enough to purchase additional products or services. Alternatively, a happy customer is likely a loyal one, so will be more likely to purchase future items, and, will stick with you during the process. The key is the experience they feel each time an interaction occurs – be it good or bad. It is all about how you conduct yourself during each communication.

Based on these findings, the surprise might be the importance of the purchase experience. How easy do you make it to do business with? What is the initial experience for new prospects when they either come into your store, visit your website, or come in contact with one of your partners? The answer to these questions will be an important factor on what customer loyalty you will experience in the future – and that experience will have significant impact on your bottom line.

 

Gordon Benzie is a marketing communications professional and business plan adviser that specializes in preparing and executing upon business plans and marketing strategies. Gordon can be found on Google+

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Filed under Brand Integrity, Customer Satisfaction, Public Relations

While Content May Be King, Conversation is Queen of Market Awareness

king_and_queen_marketing_awareness2Numerous articles have been written on the importance of what we marketers refer to as “content” in order to drive market awareness, lead generation and other sales support activities. Simply stated, you need something to say to gain the attention of your prospects and customers. Google, Bing and the other search engines reinforce this concept – you simply can’t achieve good search engine placements without quality, relevant content that is frequently updated on a regular basis.

As has been mentioned in this blog and other publications, a blog is a great place to showcase your content. Blogs offer a great “home” for you to build a collection of articles and stories that share a common theme, which in aggregate support your brand and help future customers to find your business. Any business plan writer you meet with should have a strong understanding of this topic too – if not, it might be time to find another writer!

Is Good Content Enough?

Here is where you have to ask yourself “what’s next?” Now that you have invested the time and resources to write a collection of articles, how do you now build relationships with your readers, current customers and potential clients? The reward for getting engaged in these conversations is substantial, and includes:

  • Enhanced likelihood these people will read and follow future announcements
  • Improved response rates to future offers
  • Increased chance of that person will ultimately become a customer

Learning by Example

One area where marketers can learn how to drive increased conversations is from the world of e-commerce. Some of the online retailers are quite good at creating a series of interactions that create a group of engaged prospects that likely will become future customers. For example, we all know that if we order a product from a website, we will get an email soon thereafter confirming our order. This is a good thing – we like to have a record of what we just bought. Further, if we receive an email the next day indicating our product has shipped, this is also a nice message to receive – my order is on its way. Then, sometimes you even get an email indicating that the order has shipped, with complete tracking information. Follow up emails might even include customer satisfaction surveys, another great opportunity to suggest or induce conversation.

The conversation, however, doesn’t stop once the order has been shipped and received. Instead, it is highly likely we will get a follow up email from these retailers in a few weeks or months from now, suggesting a similar product for us to order. For some of us, this is an annoyance, and we will opt out. But, for others, this is seen as a nice thing, as a way to make future orders easier to manage and accommodate.

Here is where public relations and social media professionals might take note. What can we learn from the retail establishment as a way to increase our conversation “quotient”? One challenge is we don’t have the same access to contact information that e-tailers do, such as an email address. And, with privacy laws and concerns, it is unlikely this will change. One approach is to add a call to action or value proposition that can then facilitate better access to this data. A newsletter sign up, for example, might be an angle that promises notification of new stories of interest, or of when a new blog post goes live.

If you can accomplish the right mix of content and conversation, then you are worthy of “royal” lineage. You will then have addressed both the king and queen of marketing awareness, through a marketing-based approach to public relations and brand awareness!

 

Gordon Benzie is a marketing communications professional and business plan adviser that specializes in preparing and executing upon business plans and marketing strategies. Gordon can be found on Google+

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Filed under Business Plan Writer, Marketing Communications, Public Relations, Social Networking Marketing

Giving (and Gaining) Value from a Social Network

The_value_of_a_social_networkRecently I wrote about the concept of identifying “personas” or profiles of your prospective customers, as part of your social media marketing program. Once you have completed this task, considerable value can be obtained by leveraging social media to identify where these Personas “live” or spend their free time. The ultimate goal is to build a relationship from a foundation of trust to gain valuable insights as to how your product or service offers the greatest value to the right audience. Further, if done correctly, this exercise can yield insights as to what future direction you should be taking your product roadmap, or what future markets might be most lucrative to pursue.

The first step is to identify a couple of personas and then figure out what social networks these individuals frequent. Here is where a little market research is needed, as well as a few Google searches. Think like your prospect who wants to learn more about how to buy, use or retire your product – given the wealth of information now readily available on the Internet, this shouldn’t take too much time. Once identified, your next step is alignment – becoming a trusted advisor, an educator or a visionary that offers insights to this group of people that they will value and listen to.

One example of how to accomplish this goal is to reach out to community organizers or owners to see if there is some future event you can sponsor or host. You could even reach out to the community to introduce yourself as a brand ambassador, with the intent of learning how to better improve your product. You could volunteer to offer free trials for new products, or paid focus group opportunities. Public relations can play a role here.

This strategy can help draw out early adopters and others that have a passion for your service or product, which in the end, is the perfect person for you to speak with and draw feedback from. If you gather market intelligence deemed worthwhile and execute upon it, this person will likely become a future advocate.

It is as simple and as complicated as that. I say “simple,” in that if you do these steps and your future product vision is in alignment with the feedback, you have a “win-win.” Things get a bit more complicated if a gap exists between your product direction and the feedback you obtain. At that point, you have to ask yourself, what is the right direction? Either you are going down the wrong path or you are speaking with the wrong prospective customer. After all, if you aren’t designing your products and services for end users to gain value, what is the point?

 

Gordon Benzie is a marketing communications professional and business plan adviser that specializes in preparing and executing upon business plans and marketing strategies. Gordon can be found on Google+

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Filed under Social Media, Social Networking Marketing

In Pursuit of a Social Media Persona

social-media-marketingIn a prior post I made a few observations on the incredible proliferation of social media, and what a great thing this social transformation has been for marketers. Never before has it been so easy to reach out to a group of prospective customers (or clients, which are different according to Mr. Godin’s recent post) that all share a common attribute, interest or buying behavior. This exercise is a given for anyone writing a business plan or hiring a business plan writer today.

The next question is “what do I do next?” How do I take advantage of this built in community?

The first step is to identify a couple of top profiles or “personas” you are most interested in getting to know. Your objective is to identify what type of person is most likely to gain the greatest value from your product or service, and hence could become a future brand advocate. Ideally, this person will become so passionate about your offering that they become an influential reference to secure new business not only for themselves, but for others in their community – your target audience.

It might be helpful to consider where some of your best customers or clients came from in the past. Were these people that bought your service or product for themselves, or were they buying on behalf of someone else or the company they worked for? Was there a life event that triggered the purchase? Or, was their purchase tied to an entertainment choice? In all likelihood, you will identify several of these personas that make up 80 percent of your buyers, based on the 80/20 rule.

Once you have identified the first profile, the next step is to figure out where this persona “hangs out” in social networks. If they don’t, then social media may not be of much value for you. Assuming they do, your next task to join that community. Here is where a line must be drawn – don’t try to fool others that you are a potential buyer – full disclosure is necessary to build trust into your relationship. Deception might get you one sale, but it won’t build you a following.

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Filed under Marketing Communications, Public Relations, Social Media, Social Networking Marketing

What is the Right Amount to Spend on Public Relations?

public_relations_return_on_investmentBy Gordon Benzie

 

Once you have made the investment to do public relations, the next step is to determine the right level of investment. While some consider a bus the best way to commute, others might be completely justified to insist on a Lamborghini. Your level of spending must match your business profile, budget and message objective. If you are publicizing a high end brand, a corresponding higher level of PR investment might be warranted. For all other campaigns, return on investment should be carefully evaluated to determine what is right for you.

One approach is to apply the concept of “zero-based” budgeting. Start with nothing, and then only justify incremental programs, starting from a zero baseline. If your ROI is positive, then spend more. As long as your returns continue to be positive, a reasonable case can be made to continue to expand. Note that some returns may be “soft” and yet completely justified. Borrowing from my economics background, at some point, your marginal returns will turn negative. At that point, stop spending more dollars and shift focus to continuous improvement at that spending level.

It is easy to quantify what you are spending on Public Relations. It is the benefits that are more intangible. As a way to help with this process, below is an example of a return on investment of public relations campaigns can be reasonably measured.

Measuring Better Public Awareness

Increased awareness is a benefit that makes sense on paper, but can be difficult to measure. To start, try doing a Google search on your company product name, company name or whatever term you are seeking to measure increased awareness on. In your search query, make it specific to your company market, target audience, geographical location (if applicable), etc. How often were you mentioned? How high up on Internet searches did your terms rank? This is a quick way to gauge a baseline exposure level.

Of course, search engine optimization impacts ranking levels. More news will too. More public relations activity generates additional listings to drive improved web traffic. If your listings doubled, web traffic will likely increase, resulting in greater value with increased levels of prospect engagement.

Another way to measure is with your sales team. As they go out on customer prospect meetings or calls, how often must they explain who you are? This measure will be rough at best, but, you might get answers such as “all the time” or “about half of the time,” which can then give you a baseline to measure against. Less time spent introducing the company means more time for sales people to sell.

In the end, the best measurement strategy depends on what type of business you are in, the competition and what level of existing awareness already exists. Investing in public relations can yield many benefits. Pick your target, implement a campaign and then measure it. Repeat. Over time, your understanding of the market will increase, which can then be used to justify expanding or contracting your existing spend rate.

 

Gordon Benzie is a marketing adviser and business plan writer that specializes in preparing and executing upon business plans and marketing strategies. Gordon can be found on Google+

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Filed under Brand Integrity, Public Relations