Monday, February 17, 2014

Activating a Social Media Strategy within an Organization: Frost & Sullivan's Complimentary White paper

A case study of a well-known organization that recognized the opportunity presented by online, brand-related conversations and as a result, developed a social media strategy to implement this successfully.


This organization uses a systematic approach to create and activate a social media strategy throughout the organization. This approach includes:

• Developing the strategy and creating organizational buy in
• Identifying the specific capabilities needed to operationalize the strategy
• Selecting the appropriate talent and channel for the launch
• Providing rules of engagement and training to implement the strategy
• Creating a process to listen and respond to online conversations
• Tracking progress in driving engagement and sales opportunities



Download this complimentary white paper here: http://bit.ly/1gVfFaB

Friday, February 14, 2014

3 Ways Marketers Fall Short of Buyer Demands: By Frost & Sullivan



One of the most critical aspects of successful marketing is understanding buyer preferences and adapting strategies to keep them in line with what potential customers want and expect.
However, while buyers’ preferences are constantly and quickly changing, marketing organizations are often slower to evolve.

Lately, changes in customer behavior have come especially quickly, as trends such as mobile technology and easier access to information along with increased pressures to make smarter and more financially sound buying decisions have altered what customers do during the buying cycle and what ultimately influences their decisions.

To avoid losing business to the competition, marketers should look at three key areas where many business buyers feel their needs aren’t being met:

Time:
These days, people want and expect everything faster, and that goes for their communications with businesses. Marketers need to change their strategies to keep up.

Leads should be contacted soon after they take an action while their interest is still high, Rob Butters, Principle Analyst with Frost &Sullivan, said recently in his marketing tips video blog. Responders who are contacted in the first hour of the first day are typically very receptive to the call, Butters said. After the first day, success rates usually drop by more than 50%.

Buyers are increasingly demanding quick responses, and if they don’t get them, they’ll likely buy from someone else, according to a survey from Velocify and Zogby analytics.

The poll featured responses from 1,000 adults who had submitting queries to get more information about a company’s products or services, including a third who were buying on behalf of a business.
Among the respondents, more than 60% said if they don’t get a response with 24 hours, they feel the company is going too slow. In fact, 29% even expect a response within the hour.

Failure to meet those demands is costing companies business, as 64% of business buyers said a slow response has influenced their purchasing decisions. And 71% said the first company that responds to them has the advantage.

Time becomes less important after an initial contact has been made, according to Velocify. The majority (62%) said they preferred to be contacted by the same salesperson every time even if it meant waiting longer, while the rest want to be called as quickly as possible by whoever is available. However, most still said they aren’t willing to wait more than a day so they can speak with the same person.

Information:
In addition to the speed of contact, today’s customers crave information and content. They’re putting in more effort to be better informed about products and services well before they get in touch with the business.

That’s especially true in B2B sales, according to Velocify. Among business buyers surveyed, 62% said they typically spend three hours or longer researching before submitting an inquiry. In many cases, businesses can improve simply by giving buyers the information they ask for. More than half of respondents in Velocify’s survey said they’ve had an experience in which they’ve submitted an inquiry but never got a response.

Customers also do research on their own, and they expect content from a variety of different sources. Two-thirds of business buyers say they’ve been increasing the number of sources they use to research vendors, according to a recent survey from Demand Gen Report. Therefore, marketers must make sure they’re offering plenty of content in a variety of formats and through a variety of channels.
One area that content should focus on: the financial benefit for customers. Close to half (45%) of survey respondents said they’re conducting more detailed ROI and cost analyses than in the past.
Relevance is also key for customers – business decision makers want to know what a product or service will do for companies like their own. When asked what types of content were important, the top two answers from the buyers surveyed by Demand Gen Report were:
  • ·         Articles and resources targeted to my industry (45%)
  • ·         Case study examples of other companies similar to mine (27%)

Mobility:
The increasing use of mobile devices is one of the top trends affecting marketers, as those smartphones and tablets are changing the way buyers want to communicate with companies.
As Butters said during a recent webinar, B2C marketers have largely figured out mobile marketing, while B2B marketers lag behind. While specific strategies will vary based on industry and customer base, it’s important that organizations create a mobile strategy.

However, the majority of companies (71%) rate their mobile marketing efforts as average or worse, according to a Frost & Sullivan survey of marketing executives. While some tools such as mobile apps and mobile-optimized web pages and emails are currently being used, businesses are failing to take advantage of other important strategies, including mobile-social integration, text messaging, mobile ads, and location-based targeting.

Insufficient budgets and a lack of a defined strategy are two of the biggest obstacles in the way of more effective mobile marketing, according to survey respondents. But despite those challenges, mobility is critical for marketers, and in fact, it may be even more important for B2B marketing than B2C. According to Velocify’s survey, 63% of business buyers have done a significant amount of their research on a mobile device, compared to 28% of consumers.

The bottom line: Buyers want a lot of information, and they want to be able to access it wherever they are at any given time, with whatever device they have available. Likewise, they expect quick contact and hate feeling ignored by the companies they want to do business with. It’s up to marketers to change their strategies to meet those demands and stay ahead of the competition.

About the Author:
Sam Narisi is the Publications Editor for Frost & Sullivan’s Integrated Marketing Solutions Practice, which helps companies grow their business through all stages of the customer buying cycle. For more marketing information and insight, visit Frost & Sullivan’s IMS Knowledge Center.

Monday, February 10, 2014

10 Email Marketing Mistakes to Avoid - By Frost & Sullivan



10 email marketing mistakes to avoid: 


Email gives marketers a great way to connect with current and potential customers and make one-on-one contact that drives revenue growth. However, email marketing is also a crowded field, and businesses must do their best to stand out and get their messages opened, read, and acted on.
From spam filters to list attrition, there are a number of obstacles that can get in the way of a campaign having a positive impact. Here are some of the most common mistakes that hurt marketers’ chances of success:

1. Focusing on sales, rather than useful content
One way to make sure email open rates stay low and recipients quickly unsubscribe is to constantly blast out nothing but sales-focused content. While recipients do want relevant information about your company’s products or services, few people volunteer their email address so they can be bombarded with sales pitches. Rather, they want and expect useful, interesting, engaging content.
Creating great content requires knowing your customers and their preferences and behaviors. Surveys are a good way to find out what kinds of content people are most interested in.
Another important tactic is to watch what recipients are doing. Keep track of what’s getting opens and clicks and offer more of that content. In addition, try new things and test how they perform so you can expand what kinds of content you are offering.

2. Failing to target the message
As marketers strive to understand their audience and what kinds of content they want, it’s important to keep in mind that not everyone in the recipient list will have the same needs. For some businesses, it might be best to segment the list into specific groups and target them accordingly.
One of the most important steps for marketers to take is to move away from thinking and talking about email campaigns as a “blast” to an anonymous audience. Email is a good way to connect with customers individually, so businesses should think of email as more of a one-on-one conversion tool.
To develop those segmented lists, one strategy could be to ask what people are most interested in reading when they opt in. Some companies also maintain separate lists based on which channel recipients used to sign up.

3. Getting caught in the spam filter
Just because someone signs up to receive your emails doesn’t mean they’ll ever actually get anything that you send. Many emails end up stuck in recipients’ spam filters because marketers don’t understand how those filters work.
And you can hope as much as you want that people will add you to their address book after they opt in to ensure the messages are delivered, but the fact is that most people don’t do that.
Today’s spam filters are complex and it’s easy to trigger them by accident. Marketers should pay particular attention to their subject lines. While all filters have their own algorithms and behave differently, here are some of the most common reasons subject lines get blocked, according to Charles Wallace, Director of Marketing for Frost & Sullivan’s Events Division:
1.       Using too many capital letters compared to lowercase letters
2.       Repeating too many capital letters in a row
3.       Including words with gaps in between letters (for example, “s*a*l*e”)
4.       Repeating letters and/or symbols
5.       Overusing special characters like $, #, %, ?, !, etc.
6.       Using a special character to start the subject line
7.       Using too many punctuation marks
8.       Including too many blank spaces, and
9.       Starting your subject line with a common spam word.

4. Not understanding the laws
In addition to running afoul of spam filters, many email marketers may be unintentionally violating the laws regarding commercial email communication. Regulations such as the CAN-SPAM Act regulate how those messages can be sent, and businesses that fail to comply can face financial penalties.

Here are some of the mistakes that lead to noncompliance, according to the FTC:
·         Using false or misleading header information, including the “from” and “reply to” addresses
·         Failing to honor opt-out requests promptly – the law says you have 10 days
·         Making the opt-out process difficult or confusing – emails should include a clear and conspicuous explanation of how to stop receiving emails, and failing to keep an eye on service providers – even when another company handles your emailing, your business will still be held accountable for violations.

5. Sending too often – or not often enough
Sending too many emails is one way to drive customers away and make them unsubscribe. And if companies send emails infrequently or only sporadically, recipients may forget they even signed up and the business likely won’t be getting enough numbers to get value from the email campaign.
How much is the right amount of email? That depends on a lot of factors, such as the audience and the content. A good rule of thumb: Email as frequently as you can while still offering real value to recipients.
Businesses can watch key metrics such as open, click, unsubscribe, and conversion rates to get an idea of whether or not their recipients think the emails are adding value. It may also be helpful to segment lists by engagement and send more frequently to recipients who are highly engaged.

6. Missing a call to action
Of course, getting the audience to open emails does little good if those recipients don’t actually do anything. Emails should always include some kind of next step, whether it’s making a purchase, downloading a white paper, joining a social media group, etc.
When presenting this call to action, it’s important to create urgency and focus on the value it adds for the recipient. For example, copy such as “Click here to download our email marketing best practices white paper” can be reworded to something like “Take your email marketing to the next level by reading our white paper.”

7. Making it hard for mobile users
One of the keys for great email marketing is that messages must be easy for recipients to read. That was hard enough before with the variety of email clients in use, but now emails are read on totally different devices.
A lot of people read email primarily on mobile devices, and that number is only going to grow. For those recipients, if emails are difficult to read on their device of choice, they simply won’t bother to look at them. That means businesses must optimize their emails for mobile and test on a variety of different devices.

8. Relying on images
While Gmail recently changed the way images are handled, most email clients still block images by default, and many users don’t change those settings. Therefore, marketers should make sure their emails don’t require images in order to make sense or be effective. For example, a call to action link shouldn’t just be an image – it should also be supported by text that all readers will see.
Relying on images is also becoming problematic as more email is being read on mobile devices. Images are harder than text to scale properly on smartphones and tablets, and images may appear too small for mobile readers to comprehend.

9. Neglecting to test and refine
Even if businesses get great results right off the bat, it’s likely that there’s still room to improve. That’s why marketers should always be using response data to tweak their approach and test new strategies.
Some of the elements businesses should test include:
·         Subject lines
·         Frequency of delivery
·         Day and time of delivery, and
·         Types of offers and calls to action.

10. Following others’ lead
Email marketing is a popular strategy, and that means people get a lot of emails in their inboxes and businesses must work hard to stand out. Therefore, one of the top email marketing mistakes a company can make is to sound and look like everybody else, says Gary Robbins of Frost & Sullivan’s Integrated Marketing Solutions practice.
For marketers to stand out, they need to lead, rather than follow. The strategy must go beyond doing what’s worked for other businesses or doing what’s worked for your organization in the past. It’s important to also come up with new ideas and test them to find better ways to connect with your audience and get meaningful responses.

About the Author:
Sam Narisi is the publications editor and lead writer for Frost & Sullivan’s Integrated Marketing Solutions practice, which helps companies through all stages of the customer buying cycle. For more marketing information and insight, visit Frost & Sullivan’s IMS Knowledge Center.

Tuesday, February 4, 2014

Press Release: Frost & Sullivan Offers What Others Cannot: Innovation, Credibility, Choice & Marketing Returns

Frost & Sullivan's Integrated Marketing Solutions practice offers turnkey solutions that support marketers' efforts to generate awareness, drive consideration, establish credibility and in turn, generate business.


MOUNTAIN VIEW - Feb 1, 2014 - Marketing executives are constantly searching for new ways to attract, engage and convert prospects into customers at an accelerated rate. Frost & Sullivan's Integrated Marketing Solutions practice offers solutions at every stage of your customers' buying cycle. 

Marketing executives benefit from formulating an overall Strategic Plan, prior to implementing specific strategies for each stage of the buying cycle. Frost & Sullivan's IMS practice takes the pain out of planning. With an expertise in customer and prospect segmentation, Frost & Sullivan helps companies optimally target their audience, while creating a message that is entirely customer focused. The IMS team can help design the strategy and map out the tactical components for a comprehensive and attainable realization of your team's goals.

1) Awareness - To motivate your customers to purchase your products and/or services, they must be aware of your organization. Frost & Sullivan's IMS practice partners with your team to improve upon your content marketing strategy, PR campaigns and thought leadership to help extend your reach via channels such as whitepapers, eBulletins, market resources, etc. 


2) Consideration - When customers are shopping for a product or service, it is imperative to connect with them, to ensure your solutions are part of their consideration. Frost & Sullivan leverages its extensive database of decision makers to identify and engage your prospects. Utilizing a mix of marketing strategies and an integrated approach from eBroadcasts to our globally famous, Executive MindXchange event series, Frost & Sullivan can connect your sales team with your target prospects, in their consideration phase. 

3) Credibility - When potential clients are considering products, they may discount a brand because they don't have enough information to view the company as trustworthy. By partnering with Frost & Sullivan, and utilizing the unique tools such as Spotlight Videos and Virtual Think Tanks, you benefit from our credibility to help to build trust in your products and services.

4) Evaluation - Everyone likes to try before they buy. Prepared companies take this opportunity to demonstrate the value of their solution, and to show prospects how it stacks up against the competition. Validation from a third party can add a level of confidence at the evaluation stage, and provide that desired push to get prospects over the hump and make the purchase. Frost & Sullivan can help with the demonstration process via channels as roadshows, sponsorship of our Executive MindXchange events and our Executive Think Tank Dinner Series. 

Once you have converted the prospect, your work is far from done. It has only just begun and customer marketing begins. Leveraged wisely, happy clients are valuable assets. They can provide you with references and a greater level of credibility. Frost & Sullivan has created unique marketing channels to help you develop and promote your powerful influencers, your clients! VIP events, Outsourced eBulletins and interview style video case studies all help in having your clients promote your products! 

"Frost & Sullivan has helped us through the transition to communicate our new, focused efforts. We're happy to say that our event is now established as best-inbreed in the marketplace." - Vice President of Marketing, McKesson Patient Relationship Solutions 


Frost & Sullivan's Integrated Marketing Solutions practice is dedicated to helping business generate business. Utilizing over two dozen unique marketing channels, our IMS consultants work alongside our industry analysts, to build a customized solution that meets and exceeds your strategic marketing objectives. Check it out at www.frost.com/ims.