{"id":740,"date":"2007-08-30t03:35:13","date_gmt":"2007-08-30t08:35:13","guid":{"rendered":""},"modified":"-0001-11-30t00:00:00","modified_gmt":"-0001-11-30t05:00:00","slug":"message-to-vendors-what-weve-learned-in-2007","status":"publish","type":"post","link":"\/\/www.g005e.com\/2007\/08\/30\/message-to-vendors-what-weve-learned-in-2007\/","title":{"rendered":"message to vendors: ‘what we’ve learned in 2007’"},"content":{"rendered":"
\n
<\/a><\/div>\n
free upon request<\/div>\n<\/div>\n

advertisers preach to an \u00e2\u20ac\u02dcecosystem of influence\u00e2\u20ac\u2122 and must hit prospects at the right stage of the \u00e2\u20ac\u02dcbuying journey.\u00e2\u20ac\u2122<\/i><\/p>\n

by hank berkowitz<\/b>
\nfrom aicpa custom media<\/a><\/i><\/p>\n

the hazy dog days of august are upon us. but are they still lazy? traditionally it\u00e2\u20ac\u2122s time to take a breather, catch a little r&r and take stock of how the year\u00e2\u20ac\u2122s been going before gearing up for the september whirlwind of pent-up decision-making and the q4 budget grind. anybody remember those good old days?<\/p>\n

we\u00e2\u20ac\u2122re not suggesting you\u00e2\u20ac\u2122re a sloth if you don\u00e2\u20ac\u2122t have your holiday greeting cards already at the printer, but in today\u00e2\u20ac\u2122s business climate, you better be ready to hit the ground running well before labor day. to make life easier on you, here\u00e2\u20ac\u2122s a summary of what we\u00e2\u20ac\u2122ve learned in this column this year (it won\u00e2\u20ac\u2122t take up too much of your time):<\/p>\n

key learning #1: marketing budgets are set (and reset) on a year-round basis.<\/b><\/p>\n

august has become the new september. many of your colleagues are making those painful, post-labor day budget decisions right now. marketing budgets seem to be evolving, readjusting and resetting pretty much on a year round basis.<\/p>\n

need proof. less than half of you (45%) who responded to the spring cpa marketing insider reader poll told us you were nailing down your marketing budgets in the traditional october to december quarter. almost a third of you (31%) said you were setting budgets the january to march quarter and 26 percent of you are waiting until the spring or summer quarters. it\u00e2\u20ac\u2122s still painful, but at least the pain is more evenly distributed.<\/p>\n

key learning #2: marketers have more choices (and objectives) than ever.<\/b><\/p>\n

the choices for b2b marketers are more varied than before and hopefully you\u00e2\u20ac\u2122re taking extra time to think through your decisions and add effective new weapons to your prospect-hunting arsenal. the good news? three-fourths of you (73%) have more dollars to work with than last year and 40 percent of you told us your budgets are 10 percent larger than they were they year before.<\/p>\n

reader note: \u00e2\u20ac\u0153beyond the click,\u00e2\u20ac\u009d a new case study from aicpa media and bay street group research explores ways to use online effectively to tie into the customer\u00e2\u20ac\u2122s purchase decision process. click here to request your free copy.<\/a><\/i><\/p>\n

key learning #3: customer acquisition and lead gen are top marketing priorities in b2b. branding is less important.<\/b><\/p>\n

top marketing priorities for aicpa clients in 2007:<\/b>
\n customer acquisition
\n lead generation
\n new market growth
\n brand awareness
\n product penetration
\n customer retention
\n thought leadership<\/b>
\nsource: cpa marketing insider and bay street group research, 2007<\/i><\/p>\n

key learning #4: \u00e2\u20ac\u02dcinterrupt and repeat\u00e2\u20ac\u2122 ad model gives way to relevance and engagement.<\/b><\/p>\n

as research guru, steve rappaport, told us in his june interview in this column, the advertising industry is crossing an inflection point. it\u00e2\u20ac\u2122s passing from the conventional mass media \u00e2\u20ac\u02dcinterrupt and repeat\u00e2\u20ac\u2122 model to a family of advertising models centered on relevance and engagement. steve is director of knowledge solutions for the new york-based advertising research foundation (arf). steve and his colleagues have published a new book, the online advertising playbook, which is one of the 10 best selling business books on amazon.com. if it\u00e2\u20ac\u2122s not on your must-read list, then put it there today. (disclosure: neither the cpa marketing insider nor the aicpa has a financial interest in the sale of this book).<\/p>\n

\u00e2\u20ac\u0153online advertising is about 10 years old and it\u00e2\u20ac\u2122s driving three new models that seem to be bubbling to the surface,\u00e2\u20ac\u009d noted rappaport. they\u00e2\u20ac\u2122re called \u00e2\u20ac\u0153on demand,\u00e2\u20ac\u009d \u00e2\u20ac\u0153engagement\u00e2\u20ac\u009d and \u00e2\u20ac\u0153advertising as a service.\u00e2\u20ac\u009d although they differ, the models share similarities: a focus on dynamic relationships among brands and consumers; penetrating insights into consumers through data on behavior and preferences; and support from technology.<\/p>\n

on demand means prospects are \u00e2\u20ac\u0153in market\u00e2\u20ac\u009d for your product or service, but not yet ready to buy. they\u00e2\u20ac\u2122re interested, but not necessarily ready to talk to you or a sales rep right away. advertising as a service means smart marketers are finding ways to remove the barriers for prospects to get information from you \u00e2\u20ac\u201d they\u00e2\u20ac\u2122re not going to wait for you to push it to them. engagement is the stage in the buying cycle when prospects finally engage you for a substantive dialogue about doing business together. you have to earn a prospect\u00e2\u20ac\u2122s trust to get to this stage.<\/p>\n

rappaport says we will never see another 75-year period of advertising centered on a single model and four dominant media.<\/p>\n

key learning #5: b2b marketers sell to an \u00e2\u20ac\u02dcecosystem of influence.\u00e2\u20ac\u2122<\/b><\/p>\n

in b2b media you\u00e2\u20ac\u2122re the hunted. you\u00e2\u20ac\u2122ve got to be where prospects can find you. once they find you (for instance on your web site) they want to interact with you. but that interaction\u00e2\u20ac\u2122s got to be more than just downloading a dry white paper. you\u00e2\u20ac\u2122ve got to find a way to build a relationship, which is crucial since so much of b2b marketing involves a lengthy and complex sales cycle.<\/p>\n

you\u00e2\u20ac\u2122re not selling to one person or a group within one department. you\u00e2\u20ac\u2122re selling to what steve rappaport and other trend watchers call a whole \u00e2\u20ac\u0153ecosystem of influence.\u00e2\u20ac\u009d the system is composed of one or two people from many departments or organizations. \u00e2\u20ac\u0153and the closer you get a target company to making a buying decision from you, the more folks have to be involved in the decision,\u00e2\u20ac\u009d said rappaport. in technology, financial services and other areas with long sale-cycles, you start with two or three key influencers at a company and it\u00e2\u20ac\u2122s not uncommon to be presenting to 15 to 20 before you finally close the sale.<\/p>\n

key learning #6: hit prospects at the right stage of the \u00e2\u20ac\u02dcbuying journey.\u00e2\u20ac\u2122<\/b><\/p>\n

\u00e2\u20ac\u0153the media landscape is changing drastically and daily,\u00e2\u20ac\u009d said michael paradisio, vp, global media director of ca (formerly computer associates), which devotes about 40 percent of its marketing budget to online media. paradisio, speaking at the may digital velocity summit in new york, said integrated campaigns will generally outperform campaigns built around a single medium. for instance, a recent ca study found that its brand awareness was nine percentage points higher for respondents exposed to ca\u00e2\u20ac\u2122s print and online ads than for respondents who were exposed to just the print ads.<\/p>\n

there is no one-size-fits-all media any more, noted paradisio. \u00e2\u20ac\u0153you need to look at your communication plan holistically as opposed to just a print plan, just a direct mail plan, just an online plan. and you have to use them all to pinpoint customers at the right stage of the buying journey.\u00e2\u20ac\u009d since ca has a long complex sales cycle, paradisio said his team has increasingly been utilizing webcasts, webinars and e-newsletter sponsorships to supplement its traditional media.<\/p>\n

key learning #7: integrated media the answer: not easy to get there.<\/b><\/p>\n

it\u00e2\u20ac\u2122s no secret that advertisers and their agencies would like to see more integrated media packages from publishers so they can break through \u00e2\u20ac\u0153the clutter\u00e2\u20ac\u009d on the marketing landscape. publishers would sure like to help them. why is it so hard to turn the key?<\/p>\n

for one, publishers (i.e. media sellers) have to start breaking down their \u00e2\u20ac\u0153p&l silo mentality,\u00e2\u20ac\u009d said barbara basney, xerox corporation\u00e2\u20ac\u2122s director of global advertising, at a spring btob net marketing breakfast in new york. in other words, they have to stop obsessing about meeting specific budget targets for their print, online and live events channels. instead, they need to start helping their advertising clients deliver the \u00e2\u20ac\u0153right message to the right prospects at the right time.\u00e2\u20ac\u009d<\/p>\n

both media buyers and sellers agree there should be more collaboration between clients, agencies and publishers, but the cultural shift will take some time.<\/p>\n

\u00e2\u20ac\u0153the lines are blurred,\u00e2\u20ac\u009d noted joe duncan, a vice president of global ad agency leo burnett usa. \u00e2\u20ac\u0153it\u00e2\u20ac\u2122s no longer clear that this is what the client does, this is what the agency does and this is what the media partner does.\u00e2\u20ac\u009d<\/p>\n

adds bekkedahl: \u00e2\u20ac\u0153a lot of print buyers don\u00e2\u20ac\u2122t even know what the online buyer is doing at their own agency. clients are demanding more integrated (advertising and sponsorship) packages, but agencies aren\u00e2\u20ac\u2122t equipped to deliver it right now. they\u00e2\u20ac\u2122re asking publishers for help, but at the same time, they\u00e2\u20ac\u2122re saying \u00e2\u20ac\u02dcdon\u00e2\u20ac\u2122t go straight to the client\u00e2\u20ac\u00a6we still need to protect that relationship. it\u00e2\u20ac\u2122s a delicate balance.\u00e2\u20ac\u009d<\/p>\n

key learning #8: sponsored content mainstream and effective.<\/b><\/p>\n

the bma panel agreed that \u00e2\u20ac\u0153sponsored content\u00e2\u20ac\u009d is becoming increasingly important to b-to-b marketers and emarketer research shows that e-mail, webcasts, web sites and search engines are now rated among the \u00e2\u20ac\u0153most effective\u00e2\u20ac\u009d marketing tools it tracks.<\/p>\n

according to emarketer, more than half (53%) of the business audience watches webcasts versus 22 percent of the overall u.s. population. among \u00e2\u20ac\u0153at-work\u00e2\u20ac\u009d viewers, 72 percent consider webcasts \u00e2\u20ac\u0153very convenient\u00e2\u20ac\u009d and 44 percent say they find them effective. what\u00e2\u20ac\u2122s more, 95 percent of business viewers view the archived version of webcasts, rather than the live versions. thanks to the web, consumers are taking control of the content they want and consuming it on their own terms on their own time. they no longer accepting having your message pushed at them.<\/p>\n

key learning #9: traditional media just has to make some room at the \u00e2\u20ac\u0153grown up\u00e2\u20ac\u2122\u00e2\u20ac\u009d table for the newcomers.<\/b><\/p>\n

\u00e2\u20ac\u0153i\u00e2\u20ac\u2122m amazed at how much angst and discussion there is about dollars and mindshare shifting from print magazines to online, said carr davis, co-ceo cygnus business media, who keynoted a session at the folio publishing summit in chicago in march. davis pointed to american business media (abm) estimates of 14 percent of business-to-business marketing dollars \u00e2\u20ac\u201d one out of every seven \u00e2\u20ac\u201d now being earmarked for the web.<\/p>\n

as publishers, davis said we have to ensure that we have \u00e2\u20ac\u0153branded information that our advertising clients and readers trust and respect.\u00e2\u20ac\u009d the platform on which that information is delivered should not be such a big deal, said davis.<\/p>\n

\u00e2\u20ac\u0153it\u00e2\u20ac\u2122s not a matter of print becoming less important and other media becoming more important,\u00e2\u20ac\u009d said philip juliano, vp\u00e2\u20ac\u201cglobal brand management and corporate communications at novell corp., in a btob magazine special report last month. \u00e2\u20ac\u0153just because we dialed back our print spending doesn\u00e2\u20ac\u2122t mean you can draw the conclusion that it\u00e2\u20ac\u2122s eventually going down to zero. advertisers need to be on the leading edge of new technologies, but that doesn\u00e2\u20ac\u2122t mean you throw out the old tools.\u00e2\u20ac\u009d<\/p>\n

key learning #10: web is here to stay. ad spending will soon catch up to consumption patterns.<\/b><\/p>\n

ten years out of the box, online still accounts for only five to six percent of media budgets in the us, but that\u00e2\u20ac\u2122s not commensurate with the amount of time consumers (including b2b executives) spend with the medium. for instance, a recent middletown media study found that tv ranks as the number one media in terms of time spent with it, but computer-related activities (about 50% of tv) are now number two and no other media is even close. sooner or later media spending will catch up with media-consumption patterns. outside the united states, digital advertising spending is approaching 20 percent in countries like japan, korea and the united kingdom.<\/p>\n

remember, it\u00e2\u20ac\u2122s still august. go out get some r&r. take a deep breath. ok that\u00e2\u20ac\u2122s enough.<\/p>\n","protected":false},"excerpt":{"rendered":"

free upon request advertisers preach to an \u00e2\u20ac\u02dcecosystem of influence\u00e2\u20ac\u2122 and must hit prospects at the right stage of the \u00e2\u20ac\u02dcbuying journey.\u00e2\u20ac\u2122 by hank berkowitz from aicpa custom media the hazy dog days of august are upon us. but are … continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-740","post","type-post","status-publish","format-standard","hentry","category-resources"],"acf":[],"yoast_head":"\nmessage to vendors: 'what we've learned in 2007' - 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