Last month we got you jump-started with marketing planning for 2017, offering advice on evaluating your current marketing program, identifying trends that will affect your strategy moving forward, and pointing out ways to align your marketing efforts with business goals. Read Part 1 here. This month, as we’re nearing the final quarter of the year, we offer tips to help you develop the optimal marketing plan that fits your budget and targets your audience of engineers and industrial professionals.
Meet the Mandate of Multichannel Marketing
Recent research (Digital Media Use in the Industrial Sector) demonstrates just how important digital media is to your audience. Seventy-one percent of technical professionals visit at least six websites each week for work-related purposes. Nearly half of technical professionals use 10 or more work-related websites each week.
Due to this diversification, you will find it increasingly difficult to capture your target audience’s attention by using only a limited suite of online channels in your marketing efforts. Instead, try to diversify your marketing spend across multiple channels to generate the results you need.
There are proven benefits to engaging in multichannel marketing. Manufacturers that can display their products and services simultaneously across multiple markets will have the best opportunity to gain new customers. According to the research firm Outsell, advertisers will achieve higher ROI by investing in well-designed cross-media campaigns than by relying on any single media channel. This is known as the Cross-Media Multiplier—integrated cross media campaigns perform better than single channel campaigns.
Focus on the Channels Your Audience Uses
Given the benefits of the Cross-Media Multiplier, wouldn’t it be great if you could use every possible marketing channel available to you? Unfortunately, reality and budgets prohibit such a strategy, which is why you must prioritize your marketing investments according to your audience’s behavior and how well your programs work together.
Your goal should be to maximize the visibility of your brand and opportunities for engagement. When researching a work-related purchase, the top three channels for technical professionals are search engines, online catalogs, and supplier websites. But in reality, your audience uses many other digital channels to keep up with the latest technologies, product news, companies, and brands.
Webinars, e-newsletters, industry sites, and social media are all important influences on your customers’ buying decisions. To fund additional digital channels, consider moving investments away from traditional channels such as print that may no longer perform well or that are difficult to measure.
Invest in Content Marketing
Your customers and prospects are constantly looking for content to help them solve problems, understand new technologies, and make more informed buying decisions. Suppliers that can deliver valuable, authoritative content can position their companies as industry experts, build trust with prospects, and ultimately make it easier for sales teams to close deals and drive revenue.
Research from the Content Marketing Institute/MarketingProfs found that 88% of B2B marketers are using content marketing. You should, too.
Plan out the content you will need by creating an editorial calendar. Match up content to expected events in 2017, such as new product launches or major announcements. You’ll also need to line up resources for producing and/or repurposing content. Next, select the channels for distributing content. Here’s where your multichannel strategy pays off. For example, you can promote a webinar in an e-newsletter advertisement or on social media and drive prospects to your site to register.
Use Only Measurable Marketing Programs
Marketers are under tremendous pressure to demonstrate return on marketing investment (ROMI). However, ROMI can be complex to measure because it’s highly unlikely that any single campaign or tactic can be correlated on a one-to-one basis with a sale, especially in industries with long and complex buy cycles. Most prospects will have multiple touches with your company throughout their buy cycle. Keep track of all touchpoints because your tactics and channels work together.
A good starting point for measuring ROMI is answering a simple question: For the total marketing dollars you spend, what kind of return do you get in terms of engagement opportunities? Programs such as webinars tend to have high return because prospects have proactively registered for the event, which already indicates their interest. Inquiries on your website from existing customers also offer high return; it’s lower for new customers. Specialized search engines and searchable catalogs tend to deliver good engagement opportunities because only your target audience would be using them, as opposed to general search engines which are used by everyone.
Work with Media Partners
Preparing an integrated, multichannel marketing plan is challenging, which is why it’s best to start now. As you begin, consult with an experienced digital media partner that understands and has the attention of the industrial audience you need to reach. Discuss your marketing objectives and have your media partners help you develop an integrated, multichannel media plan that will help achieve your goals and objectives.
2017 Industrial Marketing Planning Kit
IEEE Engineering360 Media Solutions created the 2017 Industrial Marketing Planning Kit to help you develop an effective marketing plan that targets your audience of engineering and technical professionals. Add this valuable resource to your 2017 planning efforts today. Click here to download.