Remember the movie scene from Indiana Jones and the Last Crusade where he had to choose from the grails wisely to avoid death?
Like Indy choosing drinkware, decisions regarding marketing help can make or break you.
My 30-year career has been devoted to helping industrial companies strategically market their products and services, build revenue, and, in many cases, improve the valuation of these firms for a better “cash out.”
Industrial companies that depend on business-to-business (B2B) relationships have a few options for marketing:
1. Do it yourself
2. An “everyman” agency that will work for you . . . and the vet clinic down the street
3. A focused, industrial marketing agency
The “do it yourself” option is the worst of these. It steals time from valuable internal staff, is typically disorganized, often suffers from poor and inconsistent creative, and is the least cost-effective.
The “everyman” agency most likely doesn’t have industrial experience and will require significant hand-holding time while training the agency. They may not understand current best practices for B2B industrial success, either.
Full disclosure: Of these choices, my company, Gotham, is a focused, industrial agency. For many industrial companies, we are their marketing department. We invest time to understand a company, the competition, and their goals to build an annual strategic marketing plan. We then uncover the competitive differences/advantages and leverage it in professional, branded communication. This results in attracting the right prospects, improving close rates, and building sales.
Thomasnet is a directory of 500,000+ industrial companies. Some are free listings with minimal descriptions, while others are paid listings that can be a literal web presence within the directory. I have marketed my own company, Gotham, on Thomasnet and engaged them for some of my clients. Thomasnet was formerly an aggregator of data regarding industrial companies. Each company was charged a fee to appear in the Thomas Register® or the “Big Blue Books.” Once the digital age took over, they created a huge digital database known as Thomasnet.com.
I have found Thomasnet effective for some companies and not for others. This information is based on personal experience and clients’ comments. For some customers, they deliver quality web visits and leads. Primarily, Thomasnet is used by corporate purchasing departments to quickly compare vendors and their offerings.
Thomasnet also offers marketing services as an additional revenue stream for their primary goal of directory building. The websites I have reviewed have a homogenous, “Thomasnet” look. If carving out a custom identity is what you desire, it makes sense to hire an agency for web and collateral design and then Thomasnet for the directory benefit.
Industrial marketing agencies will provide a more personalized approach to understanding your company and crafting a message that really sells. Agencies will be more experienced at both inbound and outbound marketing, whereas Thomasnet’s focus is primarily inbound.
Choosing the right industrial marketing company is a monumental investment of time and resources. Start with an organization that is immersed in B2B industrial marketing for the best path to success. If you feel we can be of benefit to your industrial marketing effort, don’t hesitate to visit our website at www.IndustrialMarketingExperts.com and submit an inquiry.
ThomasNet is a registered trademark of Thomas Publishing Company. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
CRM (Customer Relationship Management) software is more accessible and affordable now more than ever. Popular services such as Salesforce, HubSpot and Dynamics365 offer immense leverage over big data for manufacturing businesses of all sizes. Most companies are adopting inbound marketing strategies that are yielding a higher volume of qualified leads. Purchasing and implementing a CRM system can greatly enhance the ability to capture and act on this higher volume of leads, automate follow-up and task reminders and ultimately lead to growth in sales and customer satisfaction. Let’s break down how you can get the most utility from a CRM system for your business.
Most popular CRM software vendors offer their products using a cloud-based platform. Outside or field sales personnel run these services as an app on their smartphone, tablet or PC. The software enables users to log customer information in real time such as size, category and industry type, create maps for customer visits and access order history. Imagine making a customer visit or receiving a call inquiring about your product. You can enter the details of your visit or inquiry and process quotations, check stock levels and add valuable follow-up information that seamlessly adds appointments to your integrated calendar.
For inside sales, customer service and sales management, a CRM system provides an efficient way to catalog and track leads and opportunities resulting from the company’s inbound marketing strategy. Users can enter and track the source of leads whether from a website visit (contact form), direct message on social media platforms, direct mail, repeat customer or email campaign. Having the ability to track the source of leads ultimately reveals the efficacy of marketing dollars spent. A CRM system also allows the ability to track and regain lost customers and identify emerging markets and industries.
Integrating CRM with your ERP and even your e-commerce platform can automate customer communications such as follow-up opportunities, customer satisfaction surveys and testimonial solicitation. Real customer feedback that you can use as website and social media content tells a more relatable story for your brand. It shows your customers you genuinely care about their feedback, loyalty and patronage. Using services like Microsoft’s free PowerBI, users can link data from Google Analytics, ERP, CRM and social media paid advertising services to track target audience buying behavior, geographic density of sales activity and product seasonality.
These are only a few examples of the utility of a proven CRM software. The automation and integration across your company’s platforms versus manually tracking these ubiquitous selling processes are where the real value lies. At Gotham, we advise our industrial clients on how to adopt CRM software to leverage data from their marketing campaigns. Are you ready to start taking advantage of the latest CRM products to grow your sales and increase customer satisfaction?
Many industrial companies outsource their marketing efforts. A primary reason to contract with an industrial marketing firm is the overhead to maintain an internal marketing team that can keep up with strategic planning and the demands of ever-changing best practices of SEO (Search Engine Optimization), social media marketing, paid digital advertising (AdWords, Pay-per-click), print ads, media reps, maintaining the company website and more. It is critical to select a team that understands your business goals and is agile, responsive and experienced enough to build your brand both online and off. Below are a few tips to help you make a wise choice.
1 – Make sure the marketing firm you are considering knows your business.
Evaluate their current and past customers. Have they worked with your industry in the past? There are many marketing agencies out there with broad appeal (serve everyone) and those that only focus on one or two verticals because the demand is high and it has allowed them to specialize in targeted markets. If you are in the industrial products business, you should seek industrial, B2B experience. These agencies will already be up to speed on the pain points your customers experience, the industry jargon and other nuances associated with your business. This will give you a tremendous head start in building a productive relationship with your marketing contractor and they can get right to work building on your brand.
2 – Consider the size of the agency you want to work with.
Typically, the bigger the agency, the higher their services cost because they have to pay for all those heads and the facility to house them. Larger agencies also require retainers and long-term contracts. Smaller marketing agencies are nimbler and more adaptive. Inherently, there is less turnover in a smaller agency because there are less people. This typically means the staff are generally more involved with you and your business. Properly building a strategic marketing plan and subsequently executing it requires constant communication between the client and the marketing agency. Having fewer points of contact that are devoted to your goals and mission is extremely important.
3 – Clearly define your goals.
It may sound simple but knowing what you want to achieve is the most crucial part of succeeding with your marketing agency. If it’s conversions you are after, make sure the agency you choose can provide you the metrics tracking campaign efficacy and the ROI of your marketing spend. If you are looking for a heightened awareness of your brand across social media channels, your agency should provide you with growth numbers of followers and engagement. You are looking for proof that your goals are aligning with the achieved results. An effective marketing agency provides a myriad of reports like those from Google Analytics, Facebook Ad Services and LinkedIn Sponsored Content.
Are you ready to outsource your B2B marketing? Contact Gotham, LLC, an industrial marketing company comprised of a tight-knit team of marketing experts that provide strategic, creative services to manufacturers worldwide. Learn more at www.GothamStrategic.com.