Sharing B2B marketing communications insights
You used to be able to tell “hard” news by its source. If the Wall Street Journal said it, it must be right. The National Inquirer, not so much. The Internet changed all that. Credible newspapers and magazines are shrinking, and the online versions haven’t taken up the slack. The same is happening with the industry-specific news and information that B2B buyers rely on to make purchases. How does this affect B2B marketing?
Since James Suroweiski’s The Wisdom of Crowds hit the street a few years ago, the idea of crowdsourcing has taken off in the marketing world. Many companies have tried to glean low-cost creative using this technique. They wonder if they can use today’s new social media tools to get free creative ideas instead of using an expensive creative team. Why not get the collective ideas of a large, random group? Bob Garfield’s new book, The Chaos Scenario gives some recent examples of crowd failure.
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What can we business people learn from thousand-year-old yogi teachings? A lot, I think, as illustrated by social networking’s growing popularity. In my last blog, Do you have good business karma (Part 1) I introduced the idea that people are driven towards both practices by the same primal need to connect, and that the yogi idea of “simplifying in order to achieve more” also holds true for business success. That is why social networking is even catching on for B2B marketers. How else are the two practices related?
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Statistics show that two practices continue to increase in popularity – yoga and social networking . That got me thinking, are the two related somehow? I do both, and so do many other business people.
The word “yoga” means to “unite” or “connect”. Ancient yoga teachings say that all people are parts of one “truth” and that we have an innate need to join with that truth to achieve inner peace . Hasn’t today’s fragile economy shown that businesses are also inter-connected, and that each healthy business contributes to industry growth and overall economic health? Can we really turn off that innate need to share with the world at large when we enter the office? Might tapping into this “truth” improve our business success?
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A recent visit with my 5-year-old nephew started me thinking. Jimmy was showing me an art project from school – a painting – and asked, “Guess what it is.” I was stumped, because it actually reminded me of one of those ink blot tests psychologists give. But I didn’t want to hurt his feelings, so I thought my answer over carefully. Finally I ventured, “a horse?” “Close!” he beamed. “What is it?” I asked. To my surprise he answered, “a hammer.”
“What?” I asked. “How is a hammer close to a horse?”
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I could relate to Margie Zable Fisher’s recent blog, “The Top Ten Reasons Why PR Doesn’t Work”. Number 2 on her list is “The scope of work is not detailed and agreed upon by both parties.” We are often caught in this chicken or the egg syndrome when ramping up a new PR client. Companies won’t hire PR firms without knowing the cost of their services. Yet, how can you estimate costs before taking on an account? This would be like telling a builder to estimate the cost of designing a skyscraper without telling him the size, type of building or even where it will be located (OK, so maybe not exactly like it, but you get my point.)
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In the past, there was only one kind of “green” marketers cared about, and that was the kind their sales department could bank, but times have changed. The latest issue of B2B Magazine’s article, Marketers face challenges from economy to ecology listed “going green” as one of B2B marketer’s Top Ten marketing trends for 2008. But not all marketers should jump on the green bandwagon.
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It struck me recently that marriage and marketing have at least one thing in common: both of them work best when they have open and honest communications.
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Marketing pieces (adveritising, direct mail, brochures, web sites) are supposed to be relationship starters. They grab attention, communicate your sales proposition to buyers, and drive buyers to take action. They motivate buyers to check out your web site or call you for a demonstration. In short, they produce sales leads and make it easier for your sales team to win business. Or do they? I have found that more often they do none of those things.
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