Last month in Part 1 of our 2020 Marketing Planning series, we offered advice on how to assess the performance of your current marketing program, account for industry trends that will affect your strategy moving forward, and align your marketing plan with your company’s overall business goals and objectives. Read Part 1 here.
This month, in Part 2, we are offering tips to help you develop the optimal marketing plan that fits your budget, provides measurable results, and targets your audience of engineers and industrial professionals.
Focus on the channels your target audience uses.
When researching a work-related purchase, the top three channels that engineers use are search engines, online catalogs, and supplier websites. These channels are foundational elements in your marketing mix.
E-newsletters, industry websites, social media, email, webinars, and trade shows are all important information sources for your customers and have influence on their buying decisions. At the same time, your audience relies on other channels to keep up with the latest technologies, including industry news, products, and companies.
Of course, you can’t use every possible marketing channel available to you, since resources are always limited, but you also can’t focus solely on only one or two channels. Instead, try to diversify your marketing spend across multiple channels to generate the results you need.
Seek efficiency and integration across channels.
The marketing channels where you allocate budget should work together to reach your audience at every stage of their buy cycle. Early buy-stage resources such as search engines and websites should point the way to useful, educational content that you can distribute through email, social media, webinars, and other channels.
Plan to use multiple channels for important events such as new product launches, updates, or technology announcements. Make sure each channel upholds a consistent brand message and contributes to your stated marketing goals. When your marketing efforts are integrated across channels, you will experience a spike in efficiency and will likely achieve better results.
Plan your cornerstone content.
Engineers and technical professionals are constantly in search of content to help them solve problems, understand new technologies, and make more informed buying decisions. Being a provider of valuable, authoritative content helps position your company as an industry expert, builds trust with prospects, and ultimately makes it easier to sell your products and services to drive revenue.
While impromptu content needs will pop up throughout the year, you should plan several cornerstone pieces of content. What key white papers, webinars, or articles will you need to support your goals in 2020? By planning now, you can avoid the long lead times that producing quality content requires.
In addition, plan what channels you will use 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.
Set aside budget for new markets.
Given the almost instant worldwide reach of digital marketing channels, you should plan to explore new, untapped sectors where your products and services may be a good fit. Manufacturers that can display their products and services simultaneously across multiple markets will have the best opportunity to gain new customers.
You may need to tweak your content or messaging in order to appeal to customers across different sectors. Focus on your core value propositions. Ad networks and targeted e-newsletter advertising are effective ways to reach specific customers in new markets.
Determine your measurement strategy.
Everyone knows the saying that you can’t manage what you can’t measure. How will you measure your marketing ROI?
Many manufacturers are allocating a greater percentage of their marketing budget to digital programs, which your audience turns to first for researching work-related purchases and are easily measurable. Views, opens, clicks, shares, downloads, and conversions are all trackable data points.
Marketing automation is growing in popularity as a way to measure results, as well as to manage campaigns and content distribution. Marketing automation makes it easier to track the multiple touches that a prospect will typically have with your company throughout their buy cycle, helping you understand the contribution of each channel. There are a number of low-cost marketing automation solutions on the market.
Work with media partners.
Preparing an integrated, multichannel marketing plan is challenging, which is why it’s best to start now. But you shouldn’t have to do it alone. As you begin, consult with an experienced 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 show you an integrated, multichannel media plan that will help achieve your goals and objectives.
2020 Industrial Marketing Planning Kit
GlobalSpec created the 2020 Industrial Marketing Planning Kit to help you develop an effective marketing plan that targets your audience of engineering and technical professionals. Get a jump on 2020 and add this valuable resource to your planning efforts today. Click here to download.