Branding 2.0
When the author started his career, advertising, collateral (ala brochures/catalogs), publicity and trade shows were all the marketing required to win. Today, advertising is all but obsolete for most marketers. Collateral is all digital, and trade shows and publicity may or may not be viable communications channels. No question, for leading manufacturers strong branding is still critical, including brand names, logos, messaging, graphic themes. But branding might be more about our next marketing success key, digital excellence.

Digital Dominates the Marketing Mix
Digital marketing is the new umbrella term for internet marketing, and is inclusive of websites, search engine optimization (SEO), social media, and all forms of paid search. Of course, websites must have a modern image, with intuitive and user-friendly design or user-experience (UX). Websites must also be mobile-optimized or responsive–fancy monikers for viewable on a cell phone.

Did you know that search engines are killing small and non-optimized websites? Noticed a decrease in your website traffic and contact form registrations? Lack of organic or free website traffic, or lack of top ranking on a search engine results pages (SERPs) is common for all but the largest manufacturers and websites. Websites with less than 1,000 unique visitors per month are invisible. A key remedy, search engine optimization (SEO). Effective SEO tactics are well-documented, and very achievable. For more information, view our SEO Best Practices Guide.

It’s 2018, social media is effective and proven. For manufacturers of business products, social media is more likely about LinkedIn and YouTube vs. Facebook and Instagram. Manufacturers of consumer or retail products know how critical Facebook, YouTube and Instagram can be. So no more excuses, social media drives website traffic. And website traffic corresponds to search authority.

Another important aspect of digital excellence is paid search or pay-per-click (PPC). Why? Because paid search can drive web traffic and lead generation. Please do consider other forms of paid search including remarketing, display networks, and social advertising. For more information, link here.

To be sure, organic or free traffic is the ultimate goal of effective marketing for manufacturers. Paid search is expensive, and not sustainable. That is, PPC traffic will evaporate when spending is paused, whereas organic traffic can grow incrementally over time. So how does a manufacturer achieve organic? Certainly the aforementioned SEO must be perfected. What else? Content. Not fake news, but effective, educational and interesting (to your target audience) content.

Content is King
Blogging is the foundation of your content marketing program. As mentioned, like all content, blogs must be educational and interesting, and also be posted with good frequency. Rule of thumb is no less than weekly; daily if possible. The more frequency the merrier. 500-2,000 words in length, properly archived, tagged, meta-coded (see SEO link above). Blogs should interlink to other, relevant blogs. Similar blog topics can be consolidated into white papers or guides. Case studies are always of interest to customers. Testimonial videos are even better. A thought leadership brand or entity, sponsored by the manufacturer is the ultimate content engine. Be sure to get some advice on content strategy and planning. Check out some MMP blogs on content marketing.

Show Me the Money
No question, all this effort is focused on lead generation, if not direct sales. So how can a manufacturer achieve more lead generation? First, make sure your website is structured for lead generation. How? Calls-to-action (CTAs) or offers on all pages, blogs, and available website “real estate”. Examples: Register for Email Newsletter, Download a Complimentary Report, Attend an Upcoming Webcast. Have a dedicated “Resources” landing page with Registration forms in front of all educational content.

Email is an important aspect of lead generation for manufacturers. Always be researching and developing email lists of prospects by industry, geography, title or responsibility. LinkedIn Sales Navigator is an excellent tool to identify contacts. Hunter is an excellent tool for identifying email protocols. Build large email lists with segmentation codes, as email averages only 10-20% open rates, and only 10% click-thru rates (CTRs) for business markets. Identify multiple contacts in key customer locations. Test subject lines, and study email metrics for open and click-thru rates. Maintain email frequency, no less than monthly. IP tracking is another tool for identifying website leads (see MMP blogs on Email and IP tracking).

Marketing Drives Sales
The ultimate goal of marketing is sales. The aforementioned marketing initiatives and tactics drive website traffic, lead generation, and can support all types of sales organizations, from direct sales teams, to indirect sales representatives, to distributors or channel partners. Sales relationships can be further supported by the integration of these tactics with customer relationship management (CRM), or lead management software.

Marketing is also responsible for providing sales teams the tools required for different stages in the sales cycle. Powerpoint presentations, collateral (e.g., brochures, case studies, sales kits), along with competitive comparisons, and training information on how to answer customer objections.

Beyond software and sales tools, old-fashioned communication with sales staff should always be considered. Marketing should train sale personnel on how to uncover customer needs, and how to effectively use the many tools developed for different sales scenarios.

Marketing in Manufacturing Now Mission Critical
While traditional marketing was difficult to measure, today all marketing is measure-able, often with detailed dashboards. Website analytics are critical to understanding traffic trends and sources of traffic. Webmaster tools, and other free applications support marketing excellence. Manufacturers must embrace modern marketing, or risk losing the battle to competitors that leverage marketing excellence in the digital age. More than ever before, marketing is critical to the success of manufacturers.

For a complimentary consultation, contact Modern Marketing Partners.

About the Author
Neil Brown is a veteran marketing executive having served as brand manager and chief marketing officer (CMO) for multiple manufacturers. For more than 20 years, Brown has consulted for some of the leading manufacturers in the world including Emerson Electric, Panasonic. USG, Omron Electronics, and others. Author of two books, Neil is published in Marketing News, Advertising Age, Adweek, and more. He earned an MBA from Northern Illinois University, and a BS-Marketing from Southern Illinois University.

The post 5 Keys to Marketing Success for Manufacturers appeared first on Modern Marketing Partners.

Related content in our capital equipment marketing best practices series includes a Guide to Capital Equipment Marketing, a Marketing Capital Equipment Checklist, a Capital Equipment Marketing Infographic, and 3 Capital Equipment Marketing Considerations.

A Closer Look at Capital Equipment Purchasing

Lets examine some of the aspects of capital equipment purchasing, beginning with the decision-making process. As stated, capital equipment purchasing typically involves multiple decision-makers and influencers including:

• Executive and financial managers

• Technical experts and consultants (sometimes system integrators)

• Project managers

• Purchasing or procurement executives and/or managers

Typically, committees or multiple-functional teams are formed for specific capital equipment projects. The larger the investment, the more decision makers.

 Financial Analysis

Capital equipment decision-making is based on the opportunity to generate income or save costs. For capital equipment purchases, extensive and detailed financial analysis is employed. Multiple options are considered and compared via such analysis. Common financial analysis techniques include Return on Investment (ROI), Payback analysis, Net Present Value and total cost of ownership or TCO. Because of the level of investment, alternative financing options are often considered, including lease versus own. Obviously, tax considerations are important.

Economics

The economic environment has a huge effect on capital equipment purchasing activity, and therefore, marketing. Capital equipment is without question, the most cyclical of all categories. When recessions occur, capital spending is often reduced, postponed or cancelled. Likewise, when the economy is recovering from recession, capital spending is often a leading indicator. Related to economics are country-specific tax laws, or changes to the tax law. While the economic environment cannot be controlled by marketing, the economy must be considered when forecasting and budgeting.

Extended Procurement Process

Not surprisingly, all these aspects of capital equipment purchasing result in an extended procurement process. Depending on the level of investment, timing of capital equipment purchasing can be months or years.

Questions regarding the marketing of capital equipment?  Contact Modern Marketing Partners for a free capital equipment marketing consultation.

Please comment, bookmark and share this blog with the tools below.

The post Capital Equipment Purchasing — 4 Aspects appeared first on Modern Marketing Partners.

Related content our capital equipment marketing best practices series includes a Guide to Capital Equipment Marketing, a Marketing Capital Equipment Checklist, a Capital Equipment Marketing Infographic, and 4 Aspects of Capital Equipment Purchasing.

Reputation

Regarding reputation, when investing huge sums of money, while multiple decision makers evaluate multiple options, the lowest price is rarely the most important criterion, certainly in comparison to brand reputation. Risk avoidance is paramount. This is further reinforced by the fact that larger capital equipment purchases require so much more than the equipment itself. The implications for marketing are profound.

Limited Amount of Companies

One of great things about capital equipment marketing is that the target market is relatively small, certainly in comparison to consumer markets. There is no mass market. For the most complex and expensive capital equipment there might be only hundreds of potential customers, worldwide. International marketing is often a requirement. No question, the marketing mix for targeting a small number of very important prospects is unique.

Technical Knowledge Needed for Capital Equipment Marketing

Finally, marketing of complex or technical capital equipment is the need for engineering for both buying and selling, and yes marketing. There may be a need for joint development projects, or requirements for extensive testing or evaluation of performance specifications. Consultants and systems integrators may be involved. For these scenarios, effective marketing-engineering processes are critical.

Questions regarding the marketing of capital equipment?  Contact Modern Marketing Partners for a free capital equipment marketing consultation.

Please comment, bookmark and share this blog with the tools below.

The post 3 Capital Equipment Marketing Considerations appeared first on Modern Marketing Partners.

In our last blog post, we shared a checklist of the top 10 marketing best practices for capital equipment marketing with detailed descriptions including: analysis and research, planning, brand image, brand awareness, website improvement and SEO, event marketing, thought leadership content, blogging, social media, and direct marketing. For more details, read Marketing Capital Equipment Checklist.

Other content in this capital equipment marketing best practices series include 3 Capital Equipment Marketing Considerations and 4 Aspects of Capital Equipment Purchasing.

In this post, we offer our experience and insight about capital equipment marketing through an easily digested infographic, which features trends, tips, and best practices while marketing capital equipment.

Following is a complete capital equipment marketing infographic.  The infographic identifies U.S. capital equipment expenditures for 2011 and the prior ten years, top capital equipment vertical markets, and marketing spend as a % of sales for top capital equipment markets, along with the marketing checklist.

(click to view full size)

To read the complete guide and access a printable PDF, link to our quick and easy registration form: Guide to Marketing Capital Equipment. To view a checklist, read Marketing Capital Equipment Checklist. Please comment, bookmark and share this post using the social tools below.

The post Capital Equipment Marketing – Infographic appeared first on Modern Marketing Partners.

Related content in our capital equipment marketing best practices series includes a Guide to Capital Equipment Marketing, a Capital Equipment Marketing Infographic, 3 Capital Equipment Marketing Considerations, and 4 aspects of capital equipment purchasing.

Capital Equipment Marketing Checklist

1. Analysis and Research
2. Planning
3. Brand Image
4. Brand Awareness
5. Website Improvement and SEO
6. Event marketing
7. Thought Leadership Content
8. Blogging
9. Social Media
10. Direct marketing

Captial Equipment Marketing Best Practices Detail

1. Analysis and Research – Because of the limited number of customers, market and competitor intelligence is more critical in capital equipment than any other category. Start with market segmentation to understand which verticals drive sales and profit. Use secondary or published research including the Internet, trade publications, and associations to identify and analyze customers and competitors. For some capital equipment categories, syndicated (or fee-based) research might be available. Search www.marketresearch.com. Another resource, Equipment Data Associates sells a database of equipment lease and loan information. If secondary or syndicated research is not available, consider primary research including surveys, customer interviews, or focus groups.

2. Planning – Strategic, tactical, and project planning are each important to managing an effective capital equipment marketing program. Strategic plans are long-term in nature and include research and financial projections. Tactical plans are required for managing media advertising, trade show or event calendars, and related marketing programs. Project plans are required for larger marketing initiatives like a new website. Budgeting is an important part of planning that ensures financial resources are approved and available for ongoing marketing. The time, effort and formality of planning and budgeting will vary with the scale of the program.

3. Brand Image – As mentioned, brand reputation is critical in capital equipment markets. Prospects generally focus on a short list or consideration set of 3-4 vendors, with the perceived leader having a distinct advantage. Brand image is each customer’s perception, and the sum total of all exposures to your brand. When investing large sums, risk aversion is the customer mindset. Therefore, brand image must exude leadership and professionalism. Messaging must resonate with customer needs and be clearly differentiated from competitors. Continuity of brand elements and messaging across all marketing channels and media is important. Without continuity, brand confusion can result.

4. Brand Awareness – Prospects must be aware of your brand to be considered. Sure Internet search results can overcome lack of awareness to some extent (the subject of the next best practice). But, having a high profile in a vertical market or industry supports brand reputation and making that short list. Advertising and publicity are two marketing initiatives that can build brand awareness. Advertising capital equipment most often uses trade magazines or journals to reach specialized vertical markets. In addition, there are associations, trade shows, and industry websites for such verticals.

Publicity can be even more effective than advertising, as customers perceive higher credibility from trusted news sources. Publicity tactics include news announcements, article writing and placements, speeches, and press events. Publicity often focuses on the same publications as advertising, along with added news outlets including wire distribution services like PRweb. Media relations is the ongoing publicity efforts to achieve placements and mentions.

5. Website Improvement and Search Engine Optimization (SEO) – The company or brand website is the foundation of your marketing program. It is likely one of the first impressions of your brand. Is your website brand image stellar? Does the website content
address customer needs, problems or requirements? Importantly, is lead generation maximized with offers and registration pages?

No question, prospects use search engines to identify capital equipment options. Does the site rank in the top 3 search results for keywords? Search authority is driven by multiple search engine optimization (SEO) techniques. Run search engine optimization diagnostics like SEOmoz to identify issues and problems. For more SEO tips, check out our whitepaper: Search Engine Optimization Best Practices.

What are your website traffic statistics? Check Google Analytics. Consider paid search (Pay-Per-Click) if organic search cannot achieve top positions in search engine results pages (SERPs)

6. Event Marketing – Many capital equipment vertical markets have industry trade shows that are important to participate in. Oftentimes, capital equipment is demonstrated and purchased at key industry events. If trade shows are a key tactic, be sure to leverage opportunities for pre-show communication, at-show promotions and meetings, press events or speaking opportunities, and post-show follow-up. Beside trade shows, other types of event marketing include webcasts on a variety of topics, training programs or demonstrations, and user groups.

7. Thought Leadership Content – Be the subject matter expert (SME) or thought leader for your niche. How? Develop case studies, white papers, surveys and industry studies, eBooks, videos, and more. Use and repurpose the content for your website, blogging, and social media. Use content for your credentials kit when submitting proposals. Search and curate (use with credit) content from other publishers, bloggers, and editors. Educational and technical content is needed for many marketing tactics.

Other content types include brochures and catalogs, Powerpoint decks, specification worksheets, installation and training manuals, performance specifications, and more.

8. Blogging – An effective tool for distributing content is a blog. Blogging has many benefits to a marketing program including excellent search engine optimization (SEO). Blogs integrate with your website and social media to build indexed pages, and distribute content through bookmarking and social sharing. Blog software like WordPress has powerful search optimization features, widgets, and plug-ins. Blogrolls are essentially link directories, that encourage reciprocal links and support link-building, a major determinant of search authority.

9. Social Media – Social media is the hottest topic in marketing. Why? Because it can build search authority and generate leads! How? Build-out profiles including LinkedIn personal profiles and company pages, a Facebook business page, Twitter profile, YouTube channel, and Google+. Be sure to add social profile icons and links to your website and blog. Add social share tools to both your website and blog (Facebook Like, Twitter Retweet, Google+, Bookmarks). YouTube has a few features for metacoding that deliver high search authority for keywords.

10. Direct Marketing – The purpose of all marketing is lead generation. So manage it with a customer database, contact manager, or marketing automation software. Code, track, and report leads. Integrate the database with website registration pages, and email campaigns. Conduct ongoing research into relevant prospects and contacts. Procure prospect lists from publishers or associations. Use telemarketing qualification to identify decision makers and contact information at each prospect location. With capital equipment’s extended sales cycle, email is an excellent medium to stay in front of prospects over time. Monthly email newsletters can be effective in keeping your brand top-of-mind. Micro-target email based on vertical and role (example: engineering vs. finance).

To read the complete guide and access a printable PDF, link to our quick and easy registration form: Guide to Marketing Capital Equipment. Please comment, bookmark, and share this post using the social tools below.

The post Marketing Capital Equipment Checklist appeared first on Modern Marketing Partners.