The Two Types of Marketing Essential to Your Success Reply

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Most industrial marketers are familiar with the terms push and pull marketing. Others use the phrases outbound and inbound marketing, or creative and directional. Whatever their names, these two types of marketing are essential to your success.

Though they are different, creative and directional advertising must work together to form an integrated marketing strategy. As you begin your initial marketing planning for 2018, keep these two approaches in mind.

Push, Outbound, Creative

These are the classic marketing tactics, where you push your message out to create brand awareness or raise a need in your audience.

  • Examples: Direct mail, email blasts, online ads, mobile text marketing, event marketing, telephone calls
  • Benefits: The marketer controls the timing, channel, content and frequency of outbound promotions. Tactics help build brand visibility in the market and awareness among your audience.
  • Challenges: Because push marketing is disruptive, many of those you reach will have no interest in your message at the time when it arrives. Also, while the marketer is in control of the campaign, the customer decides whether or not to pay attention to your marketing efforts.
  • Best practices: Segment your audience as much as possible by advertising on industry-specific sites or emailing only to a target audience.

Pull, Inbound, Directional

Although this type of marketing has been around for years (i.e., a person with a recognized need used to turn to the yellow pages), the rise of the internet and the digital age has led to the dramatic growth in pull marketing.

Directional advertising is placing your business in front of people who are actually looking for your product or service. Your audience has a recognized need and is searching for a solution. Your goal is to make sure they find you.

  • Examples: Supplier websites, presence on industry websites, search engine optimization/paid keyword search, social media recommendations, public relations/article placement
  • Benefits: Ability to connect with your target audience when they are motivated and searching, particularly early in their buy cycle before they make contact with a vendor. Typically, lower cost per opportunity generated
  • Challenges: Requires optimal allocation of resources across the variety of channels that your customers use today to access information and search for products, services and suppliers
  • Best use: Focus on maintaining an effective company website as well as building a broad and visible presence on industry sites that your customers use on a regular basis

Putting Creative and Directional Together

You need both creative and directional tactics to execute an effective marketing program. By implementing both strategies, you will build awareness among the potential customers you want to reach, and be highly visible to them when they are researching or making a purchasing decision.

Push and pull tactics work hand-in-hand for greater efficiency and effectiveness. For example, a web page optimized for specific search terms (pull) that you also drive prospects to using email blasts or banner advertising (push).

Another example is a supplier hub on Engineering360.com where engineers can find you when searching for solutions like those you offer (pull), and where you can also drive traffic to your hub or products through display ads on the site or by advertising in a targeted e-newsletter.

According to the upcoming Trends in Industrial Marketing research report, 69 percent of industrial marketers use both push and pull marketing tactics, but say they could be diversifying their mix more. How do you find the right mix? You can get more tips about creative and directional advertising, plus tools and recommendations to build a stellar marketing plan, in the just-published 2018 Marketing Planning Kit. Download your complimentary copy today.

Why Print Media Should Still be Part of Your Advertising Mix Reply

For the past few years, the B2B marketing world has been buzzing about the rise and relevance of digital media. It’s true that there are many digital channels available to help companies connect with their potential customers. From social media to webinars, online catalogs to video, email to apps—B2B marketing has experienced a sea of change.

Conversely, spending on print is declining. According to research from CMO Survey, investments in traditional advertising have consistently dropped by single digit percentages each year for the last half decade. Digital marketing spend, by comparison, has consistently grown by double digit increments year after year.

And yet, data shows that print media still plays a role in a successful multichannel marketing strategy:

• The CMO Survey also found that digital spend is only a portion of total marketing spend for most businesses, and that companies are also spending marketing dollars on offline/traditional media.
• Fifty-seven percent of B2B marketers use print or other offline promotions as part of their marketing mix.. (2016 B2B Content Marketing Trends – North America: Content Marketing Institute/MarketingProfs)

The Benefits of Print
There are many benefits to reaching your customers using print media. Print is still a top-of-funnel medium, and can help you establish the value of your brand. Additional benefits of print include:

• With print circulation down, readership for most publications has been culled to only the most engaged, targeted audience, which is a desirable trait from an advertising standpoint.
• Print is perceived to offer credibility, especially in the B2B industrial space.
• Readers of print are not interrupted by targeted digital ads being served up in real-time based on browsing history or digital footprint.
• Readers are more focused when engaged with print, rather than multitasking like they do when consuming digital content.
• Print offers pass-along exposure among colleagues.
• Print offers high visibility—fewer ads mean more impact.

Finding Where Print Belongs
Research by the sales and marketing firm Outsell showed that marketers are increasing the number of tools in their marketing stack. Research from Lewis PR found that 84 percent of senior marketers worldwide state multichannel marketing is a key focus of their current marketing strategy.

Print advertising can still have a place within your stack of tools and overall marketing mix. . The question is finding the right fit in an integrated and multichannel marketing program.

When choosing print media, keep in mind that the real value in print advertising may be in brand awareness and perception, and in getting your message or offer to stick over the long run. By simultaneously using both print and digital media, you can achieve concurrency of media and have a greater opportunity to connect with your target audience in different settings—whether they are at their desks, on their mobile device or offline.

Measuring the effectiveness of print is easier than in the past.. Do this by integrating print and digital efforts. Marketers can include scannable QR codes, or set up ad-specific URLs and corresponding landing pages so that they can track how much traffic is generated from a particular print promotion.

Digital channels are more plentiful, and offer concrete measurements and flexibility. Plus, the majority of the technical audience goes online first when searching for product, services and suppliers. However, a well-planned print should still play an role in your marketing mix – as long as it’s integrated with
digital in your multichannel marketing strategy.

Tell us – Where do you see value in print advertising? How are you merging digital and print?

The Case for a Multichannel Marketing Strategy Reply

 The internet has evolved from its early days to offer a collection of innovative, relevant and useful digital resources for helping technical professionals be more productive and efficient in their work processes. Engineers turn first to digital channels to locate and research suppliers, products and services when engaged in their buy cycle.

Using digital media for work-related purposes is now “business as usual” for engineers and industrial professionals. Not only do technical professionals have more digital tools and sources of information at their disposal, they also have gained exposure to more companies to buy from. The result is that buyers have more choices, more individualized preferences, and more power than ever before.

In addition, during the early phases of their buy cycle—researching and comparing suppliers and products—engineers are using digital information sources and working independently of suppliers. Most do not contact a supplier until they have already created a short list of potential vendors.

Three trends pointing toward multichannel marketing
These three trends are the primary reason why industrial marketers must embrace a multichannel digital marketing strategy:

1. Industrial professionals have many digital tools to choose from and a have variety of searching and sourcing preferences
2. The internet has leveled the playing field and increased competition as more companies allocate more marketing dollars to digital media
3. Suppliers must be noticed by and attract potential customers early in the buy cycle in order to be in the running to make a sale

Multichannel marketing allows industrial companies to stay abreast of these trends and offers brand cohesion for industrial suppliers: your brand and products can appear in those places where customers might expect to find you, and you can maintain a consistent and persistent presence and message to reinforce your brand and value propositions.

But which digital channels to use?
With so many digital channels now available, marketers need to allocate their budgets wisely in order to achieve the greatest possible impact. Few companies have the resources to blanket every channel with marketing campaigns, nor would you want to do this even if you could.

Instead, you should focus on those channels your audience uses the most. According to the research report “Digital Media Use in the Industrial Sector,” the top three work-related digital resources for technical professionals of any age have stayed the same in recent years: general search engines (used by 89 percent), supplier websites (75 percent) and online catalogs (74 percent). Online communities have seen a significant growth among younger engineers, with 39 percent now using them.

You can also allocate marketing resources to align with your customers’ buy cycles. To be noticed and remembered by prospects in early stages of their buy cycle, when they are identifying needs and beginning research, tactics such as banner ads and articles on industry sites, online catalogs, and advertising in industry e-newsletters can help you raise brand awareness, get your message across and be remembered by prospects.

As buyers begin comparing potential vendors, you need to get closer to prospects and provide more specific and differentiating information. Webinars, how-to videos, demos and product specs on your website are good choices here.

How to keep track
While most industrial marketers understand the need for a multichannel strategy, it can be challenging to make sure a multichannel marketing program is integrated and trackable across all channels you use. Some marketers can fall into the “last click” trap, which attributes a sale to the last action your customer takes before making a purchase decision.

This is a mistake, because almost every sale made is the result of creating multiple touchpoints with prospects. They might start by viewing your banner ad or finding your online catalog, then downloading a white paper, followed by attending a webinar or watching a video. All of these prospect behaviors and touchpoints help contribute to the final buying decision. That’s why it’s so important to be able to track digital behavior. It’s equally important to work with media partners who can provide comprehensive reports about who is accessing your content and on the performance of your programs.

Any investment in multichannel marketing requires analytics and a commitment to channel integration. Ultimately, it’s worth it. You’ll have in place a marketing platform and strategy that can see you through the complex era of digital marketing, and you’ll realize better results and return on your marketing investments.

In Marketing, You Need to Push and Pull Reply

 There has been agreement in recent years about the need for industrial marketers to combine both push marketing and pull marketing strategies. In theory, the line between push marketing and pull marketing is clear, but in practice it is blurred, because successful marketers seamlessly weave the two strategies together.

Push marketing, also called outbound marketing, is casting a net to reach your audience. Examples of push marketing tactics include e-newsletters, direct mail, and print or online advertising. The marketer maintains control in terms of targeting the audience, owning the message and selecting the channel. A question related to push marketing is: “How many can I reach?”

Pull marketing, also called inbound marketing, is a way to draw in potential customers, making it easy for them to find and engage with you when they recognize and begin searching for a product or service similar to what your company offers. Search engine marketing, your company website, online catalogs, and social media accounts are examples of inbound marketing. With pull marketing, the customer is in complete control in terms of choosing to engage with you, and your task is to provide useful, relevant content. A question related to pull marketing is: “Who can I help?”

A majority of industrial companies (53%) use a combination of both push and pull marketing strategies, according to the recent IHS Engineering360 research report, “Trends in Industrial Marketing.” However, only a quarter of these marketers are satisfied with their push and pull mix. What’s the source of their dissatisfaction?

The path to a better push and pull mix
A number of factors could contribute to industrial marketers recognizing a need for better diversification between push and pull marketing. These include:

Too slow to shift to pull strategies. Traditional marketing methods are heavily weighted toward push strategies: cold calling, direct mail, and print ads, for example. On the other hand, pull marketing came of age with the digital era. Now the vast majority of engineers, technical, and industrial professionals turn first to digital channels to search for information, news, products, services, and suppliers. If you haven’t caught up to your customers’ behavior, you may not be getting the results you want.

It may be time to take a closer look not only at your push and pull diversification, but also your online and traditional marketing mix. Whether your tactics are push or pull, you should probably be devoting the majority of your marketing budget to digital channels.

Viewing a channel as valuable exclusively for push or pull. One mistake marketers might make is deciding that a channel is exclusively push or pull, and then using it only in that manner. The reality is that many channels can accommodate both push and pull tactics, and in fact the line between push and pull is often vague.

For example, writing a guest article for publication on an industry website is a pull tactic that can draw your audience in, but paying for an advertorial on a website is more of a push tactic. Posting to your social media accounts and earning shares and mentions are pull tactics, while paying for social media advertising is a push tactic.

Marketers should first choose which channels are best for helping connect with their target audience and to achieve their marketing objectives, then deploy both push and pull strategies on those channels for greater impact.

Not integrating push and pull efforts. You may use both push and pull marketing tactics, but are you weaving together your efforts into an integrated marketing strategy? No single tactic should stand in isolation. For example, you might advertise in an e-newsletter to drive prospects to a page on your website where they can register for a webinar or download a white paper. You may also have optimized this page to rank high for specific keyword search results. Or if you publish a searchable online product catalog on an industry website, you can display ads based on the user’s search and results. Take these concepts to a higher level and discover ways to integrate all of your push and pull strategies.

Top Priorities and Challenges for Industrial Marketers Reply

 In the recent IHS Engineering360 Media Solutions research report, Trends in Industrial Marketing, we revealed the top priorities and challenges that industrial marketers are facing today. The priorities that matter to industrial marketers include customer acquisition and retention, brand awareness, and content production and distribution. The list of challenges includes increased competition, generating leads, and measuring success.

That’s a lot to manage for any marketing team. The Maven is here to help. We’ll look at each of these priorities and challenges and put them into context for you. Why are they important? And what can you do to best manage your priorities and conquer your challenges?

Priority: Customer Focus
Customers are the lifeblood of every business. Industrial marketers know this. Customer acquisition is the primary marketing goal for 43% of survey respondents, earning it the top spot six years running. In addition, focus on customer retention has grown every year for the past several years, with 15% stating it is their primary marketing goal in 2015. Moreover, 54% state that customer acquisition is used to measure marketing success.

To stay focused on customers, industrial marketers are investing in digital programs such as email marketing, e-newsletters, webinars, and catalog programs to get closer to customers and potential customers. They also are focusing on working with media partners who best understand the customer and can offer programs that produce significant levels of awareness and engagement.

Priority: Brand Awareness
Over the next five years, industrial marketers indicated their marketing teams will be placing more emphasis on brand awareness. Having a brand that is positively recognized in your market puts your company in a position to shorten the sales cycle and win more business.

Marketing programs that deliver a consistent and persistent presence – such as your website, online catalogs, and banner ads – can increase the visibility of your brand. Webinars and content marketing initiatives can help personalize and strengthen your brand.

Priority: Creating and Distributing Content
Another area of focus for marketing departments will be creating and distributing content. Engineers and other industrial professionals are constantly looking for relevant, educational content to help them do their jobs better, such as webinars, articles, how-tos, white papers, spec sheets, and more.

Fifty-one percent of industrial marketers increased spending on content creation in 2015. However, 39% are just getting started with content marketing, and only 12% can show how content marketing contributes to sales. Marketing teams should develop a content marketing plan and schedule, which will help them produce needed content and get it into the hands of customers and prospects using the digital channels they prefer.

Challenge: Increased Competition
For the first time, industrial marketers report that increased competition is their number-one challenge. The digital era and its multitude of channels has largely leveled the playing field for competitors. Engineers and technical professionals now have more resources than ever at their disposal to discover information and research purchases, making it harder for marketers to be highly visible and to differentiate their company, products, and services.

The solution is to diversity your marketing presence across the channels your customers prefer to use. Putting too much emphasis on one area, such as the company website, can leave you vulnerable to competitors who are increasing visibility and generating engagement opportunities across a variety of digital channels. Past research demonstrates the performance benefits of diversifying your marketing spend across multiple digital media channels versus relying on a single platform.

Challenge: Generating Qualified Leads for Sales
Thirty-five percent of industrial marketers report that generating enough qualified leads for sales is one of their top three marketing challenges. What’s more, demand generation is the second most important marketing goal for industrial marketers and a precursor to the top priority — customer acquisition.

The key to overcoming this challenge is to invest in marketing that generates valuable engagement opportunities for you. You can often measure the worth of a contact or inquiry in its timeliness. Engagement opportunities coming to you in real time, as they are generated, are more likely to convert to a sale than those weeks or even just days old.

In addition, marketers should have lead nurturing processes in place to help transition early-stage leads into qualified prospects ready for your sales team. For additional advice and best practices in this area, download the complimentary white paper, “Best Practices for Managing and Increasing Engagement Opportunities.”

Challenge: Measuring Return on Investment (ROI)
The top measurements for marketing successes are sales attributed to marketing campaigns and customer acquisition. Because the industrial buy cycle can be long, complex, and involve multiple decision makers, you will likely engage with customers along a number of marketing touchpoints before they make a buying decision.

For example, a customer may first see your banner ad, later visit your website, download a white paper, and eventually attend a webinar. It’s important to track all of these interactions along the buying journey in order to measure the effectiveness of individual marketing tactics and your program as a whole. This will also prevent the mistake of attributing a sale to the last touchpoint with a customer, because rarely is any one interaction, or even the most recent one, the sole contributor to marketing success.

Download the white paper “2015 Trends in Industrial Marketing” for an in-depth look at the goals, challenges, budgets, and plans of industrial marketers, along with recommendations on how you can strengthen your marketing efforts in the coming year.

Three Tips for a More Effective Multichannel Strategy Reply

With engineers and technical professionals using a variety of digital resources for work related purposes, industrial marketers must deploy a multichannel strategy to attract new customers and connect with current ones. But it takes more than simply placing advertising in different digital media channels.

Instead, you must be able to deliver a seamless, consistent experience across multiple channels in order to build confidence and trust among your target audience and increase opportunities to win business.

Being consistent and seamless requires that the attributes and value of your brand come across to your customers at all times, on all channels. Many customers might be exposed to your company through multiple channels: e-newsletters, websites, online catalogs, webinars, online events, banner ads and more.

You don’t have to—and shouldn’t want to—use the exact same message across channels, or make all your creative and layout look the same, but you should find the appropriate threads to weave through your marketing that will cause potential customers to recognize and understand your brand at every digital touch point. Here’s how:

Cross Media Multiplier Effect

1. Anticipate multiple exposures
There’s a theory that a potential customer has to interact with your company up to seven times before they’re ready to make a purchasing decision. If you’re truly deploying a multichannel strategy, you should work under the assumption that engineers and technical professionals will be exposed to your company numerous times across multiple digital channels.

For example, the person who sees your ad in an e-newsletter might click through to your website and later might view a video on your YouTube channel and read one of your tweets or blog posts. Provide visual consistency by using similar colors, layouts, fonts and other design elements across channels and content.

Provide message consistency by reminding your audience of your brand value. How do you want your audience to perceive you: Are you a technology innovator? A low-cost provider? Known for stellar customer service? Find a way to reinforce your major brand message, even if the specific marketing campaign is more focused.

2. Plan your content
Be the company that is always putting out fresh content on multiple digital channels. The latest news on your products or trends in the industry. A new white paper, video or webinar. If you strive to constantly refresh your content, it will be easier to maintain consistency and deliver a seamless experience across channels.

In addition, create a schedule for publishing content so that you know when and where your content will appear. This will help you avoid, for example, having last month’s story still promoted on your social media platforms while this week’s e-newsletter concerns itself with more recent topics. Remember that not every channel has to carry the same message or news (which would be dull), but they do have to work together and you have to be aware of what’s appearing where.

3. Tie it all back to your website
A good portion of your marketing effort is likely devoted to funneling customers to your website where they can accept your offers, make a purchase, contact you or interact with your company, brand and content in other ways. Whether a potential customer is exposed to your company through a banner ad, e-newsletter, online catalog, social media post or other channel, every potential customer that clicks through to your website should immediately recognize something familiar, whether it’s a message you want to continually reinforce or a consistent look and feel you want to promote.

If you integrate all the components of your multichannel marketing strategy in these ways, not only will you provide a consistent, seamless and memorable experience to your target audience, you will create the impression of being everywhere in the digital sphere. Customers will see and recognize your presence, which will help form a stronger and longer lasting connection with your brand, company and products.

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2015 Marketing Planning Part 1: Generating Results in Today’s Digital Environment Reply

Now is the time to begin formulating your marketing strategy and developing plans for 2015. In Part 1 of this two-part series, we’ll look at how you must account for the dramatically changing marketing landscape due to the rise of digital media.

In the early days of digital, industrial companies could get by simply with a company website. This is no longer the case. Today there is an influx of new and relevant digital channels. Technical professionals now have more digital tools and sources of information to do their jobs better and more efficiently. Consider this new reality brought about by the “digital disruption:”

  • Technical professionals are exposed to more companies than ever before—which means more competition for you—because suppliers of every size are building a strong digital presence, giving potential customers more choices in terms of who they do business with.
  • Technical professionals have more personalized preferences and more control in how they choose to interact with suppliers, and often don’t engage with a supplier until later in their buy cycle because they can do so much of their research and evaluation online.
business solution puzzle 2

The takeaway for marketers is that it’s no longer enough to use a limited suite of digital channels to connect with customers and prospects. To be successful today, you need a broad and deep online presence. Expanding your media program to multiple channels will get your name and brand front and center across all stages of the buy cycle, which you need to build awareness and stay competitive. This phenomenon—that you can achieve higher ROI allocating your resources across multiple channels than you can by relying on a single method—is called the Cross Media Multiplier. In essence, it means the whole is great than the sum of its parts.

Of course, you likely don’t have a bottomless budget that will allow you to take advantage of all the digital channels available to you—from online events, webinars and catalogs to newsletters, custom emails, social media, your own website and more. The question is how to allocate your marketing resources in 2015 to optimize results and achieve your marketing goals. Here are three tips to help in your planning:

1. Use the channels your customers use.
Search engines, online catalogs and supplier websites are the three big channels that technical professionals use when researching a work-related purchase. They belong in your mix. But technical professionals also use a variety of other digital channels to keep up with the latest technologies, product news and companies—and these channels and the information technical professionals get from them all influence their buying decisions. E-newsletters, industry websites, online events and webinars are all important channels for your customers and should be considered as part of your marketing suite. Be sure to allocate some of your budget to these channels.

2. Include both creative and directional advertising in your marketing portfolio.
Creative advertising builds awareness for your brand in the marketplace. Creative advertising occurs near the top of the sales funnel and helps your target audience discover who you are, what you have to offer, and how you can provide value. Examples might be an e-newsletter sponsorship, banner ad, online event or social media. Directional advertising is more mid- to end-funnel focused and can lure in technical professionals when they are looking for a specific product or component and need to find the right supplier. Examples are supplier directories, online catalogs and optimizing your website content for search. You need both types of advertising to be 1) recognized by your potential customers, and 2) chosen when the time comes to buy.

3. Work with experts.
Your media partners, including IHS Engineering360, have a wealth of knowledge about the digital media landscape and how it functions. They can offer you guidance in matching your marketing goals and budget with the right mix of digital channels to achieve the results you need. Reach out early to your media partners and get your plans in place for 2015 so you can begin the next year with momentum.

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3 Rules for Developing a Digital Media Strategy Reply

It’s the digital age. Engineers and other industrial professionals are spending more time online than ever before. They use a variety of digital resources to perform work-related tasks, transforming their buy cycle and, in turn, challenging traditional marketing and sales processes for suppliers and manufacturers. This phenomenon, often called the Digital Disruption, has ushered in a new digital era and a mandate for suppliers to develop an effective digital media strategy.

The Digital Disruption is fully explored in the new IHS GlobalSpec white paper: “A Strategic Approach to Digital Media: How to Develop a Budget, Create a Strategy and Measure ROI.”

The majority of industrial marketers already use digital channels to connect with customers and prospects. However, their efforts do not always generate desired results. Only 35 percent of industrial marketers are satisfied or very satisfied with their online marketing efforts, according to the research report “2013 Trends in Industrial Marketing.”

1. Take a multichannel approach
The main reason there is so much room for improvement is that many marketers think of digital as a single tactic. They are not taking a holistic or strategic approach to digital marketing. Just as “traditional” (print advertising, trade shows, direct mail, etc.) was never a single marketing channel, “digital” is also a broad term encompassing many online marketing strategies and tactics.

Because industrial professionals have many digital tools and sources of information at their disposal—from general search engines to specialized search, from industry websites to supplier websites, from online events to e-newsletters, digital catalogs, social media and more—suppliers must deploy a multichannel digital marketing program to be successful.

Of course, you can’t be everywhere, but you can make strategic decisions about where to allocate your resources. You should focus on the channels that:

1. Your target audience prefers
2. Align with your goals and objectives
3. Match your customers’ buy cycle behavior

One point to consider: Many industrial buyers do not initiate contact with a vendor until they have completed the early stages of their buy cycle and are close to a purchase decision. Therefore, it’s important to build and maintain brand visibility and awareness as part of your multichannel approach, so you can be discovered by customers at all times during their research.

2. Create a digital media budget
The first step in creating a budget for digital media is to consider reallocating resources from marketing programs that have performed poorly or are difficult to measure into digital channels that your target audience is using.

Industrial marketers are making the shift to digital, some faster than others. Fifty-four percent of manufacturers report they are spending more for online marketing in 2013 than in 2012. However, half of companies are devoting at least 36 percent of their overall marketing budget to online media and only 30 percent are devoting the majority of their marketing budget to digital efforts. With a target audience that has already made the shift to online resources, industrial marketers have to ask themselves if they are committing enough budget and resources to reach and engage their customers and prospects through digital channels.

3. Meeting the Challenge of Measuring Marketing ROI
Many marketers swallow hard when the discussion turns to measuring marketing ROI, and there’s no question that this measurement is a challenge. At the same time, there’s no doubt that marketers need to be more accountable.

Here are several ways to get started measuring ROI:

1. Commit only to measurable programs. Fortunately, the best-performing programs today are digital media. And digital media by its nature is measurable. You can track impressions, clicks, inquiries, conversions, time on page, length of view, and more.

2. Focus on those measurements that provide valuable insight leading to decisions that will improve your marketing program. These include the volume of engagement opportunities, the value of a lead in terms of revenue it helps to generate, the speed with which a lead converts, cost per inquiry, and brand awareness (such as reach and exposure numbers).

3. The industrial buy cycle can involve multiple decision makers and include many marketing touch points. It’s not easy to determine which touch point(s) contributed to a sale, even for companies using sophisticated marketing automation software and having the benefit of tight integration and communication among sales and marketing to share data and insights. Most likely, all touch points contribute to a sale. You may need to assign a weighting to different tactics to help measure ROI.

The white paper, “A Strategic Approach to Digital Media,” includes four additional tips for measuring ROI. Plus recommendations on developing a multichannel marketing approach and reallocating your budget to the digital side. It’s a valuable resource for every marketer. Download your complimentary copy.

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Industrial Marketing Trends: Shift to Digital Continues; Focus on Customers Intensifies Reply

All marketers know you can’t achieve business success without paying attention to your customers, but this year the focus on customers is especially intense in the industrial sector. Forty-three percent of industrial companies say that customer acquisition is their primary marketing goal, according to the recent IHS GlobalSpec research report, 2013 Trends in Industrial Marketing, which is based on a survey of marketing and sales professionals in the industrial sector.

You can download the research report to access complete results along with analysis and recommendations.

The survey also found that customer acquisition, customer satisfaction and customer retention represent three of the top four ways industrial marketers measure success. In addition, focusing on the customer will be the number one area of emphasis over the next five years in marketing departments.

It’s not a surprise that customers are receiving so much attention. They have more control over the buying process (often not contacting vendors until they are near decision time), more information resources than ever before, and more suppliers to choose from. In response, industrial marketers are putting more effort and budget into digital channels to connect with customers, forge stronger relationships, and keep customers in the fold.

Industrial marketers face challenges, make spending changes
Marketers are feeling the pressure to demonstrate ROI from their efforts. Thirty-one percent say it’s the biggest challenge in their profession, while 58 percent consider sales attributed to marketing campaigns as a measure of success.

At least most marketers are shifting more of their budgets to digital channels, whose performance is easy to measure in terms of impressions, clicks and conversions. Fifty-four percent of industrial marketers are spending more on online marketing in 2013 than they did last year. Fifty percent will spend at least 36 percent of their overall budget on online channels. Five of the top seven most popular marketing channels are digital.

Traditional marketing channels will experience a decrease in spending. Direct mail, printed directories and trade magazine advertising are among the channels taking the biggest budget hits by marketers in the industrial sector.

In terms of overall marketing spend, 32 percent of companies are spending more on marketing in 2013 than they did in 2012. About half are spending the same as last year.

Content plays an important marketing role
Content continues to play an important role in industrial marketing as engineers and other technical professionals seem to have an insatiable appetite for information and education to help them do their jobs better. Fifty-one percent of industrial marketers will spend more on content creation this year. Video (58 percent) and webinars (49 percent) will see increases as well. In addition, creating and distributing content will play a major role in marketing plans over the next five years.

Social media finds its place
After a number of years of experimenting with how to use social media, industrial marketers are settling on branding and content delivery as their top goals for these platforms. LinkedIn is the most popular social media platform in the industrial sector, with 72 percent of marketers now using it.

It’s time to evaluate marketing efforts
While industrial companies are wisely reallocating resources to digital channels, just 35 percent of companies report satisfaction with their online marketing initiatives. This is a good time to evaluate the initiatives you are employing, before planning begins for next year. Are you allocating your marketing resources to those same channels that your target audience of industrial professionals relies on most frequently? Your audience is fragmented online, using multiple platforms. You need to use those same platforms to build awareness and generate engagement opportunities.

Download the full results, analysis, and recommendations of the 2013 Trends in Industrial Marketing research report.

To get a better sense of how your target audience is using digital media and the best ways to reach industrial professionals online, download these complimentary reports: Digital Media Use in the Industrial Sector and New in Digital Media: Marketers Require Multichannel Solutions to Achieve the Cross-Media Multiplier Effect.

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What trends do you see in industrial marketing? Are you focusing more on the customer and/or shifting more resources to digital channels? Share your thoughts in the comments section below.

What Your Digital Media Strategy May Be Missing Reply

Almost every industrial company engages in digital marketing now. But if all you have are a website and newsletter, you’re missing out on something important — visibility and a better opportunity to connect with customers and prospects.

In this era of digital media teeming with innovation, industrial professionals and the companies that market and sell industrial products and services are faced with an influx of digital channels. From the introduction of general search engines, to an increase in specialized search, to the rise of social media, industrial professionals have more digital tools and sources of information than ever to do their jobs better and more efficiently. They also gain exposure to more companies to buy from. The result is that your customers have more choices, more individualized preferences, and more power than ever before.

A recent white paper from IHS GlobalSpec, “Marketers Require Multichannel Solutions to Achieve the Cross-Media Multiplier Effect,” documents the reasons why industrial marketers are rapidly adopting a multichannel digital marketing strategy and provides the benefits of diversifying your marketing spend across multiple digital media channels.

There are two primary reasons why industrial marketers are adopting a multichannel approach:

1. Customers have many digital tools at their disposal, and as a marketer you must engage them in ways that match their varied searching and sourcing preferences.

2. As an increasing number of companies allocate more of their marketing dollars to digital media, you must fend off increased competition online.

The evidence is mounting that multichannel marketing is producing the desired results for marketers in terms of improved campaign performance and a higher return on marketing investment. This phenomenon is known as the “cross-media multiplier effect.” It’s a classic case of the whole being greater than the sum of its parts.

Marketers are getting savvy
Marketers are demonstrating their savvy in regards to multichannel marketing. Many are abandoning single campaigns and instead adopting broader campaign strategies that integrate multiple digital channels and produce the cross-media multiplier effect.

But that doesn’t mean you can simply spread your budget across all the online channels available to you and expect to be successful. Marketers must allocate their budgets wisely. Certainly you need to invest in your company website. Beyond that, you must evaluate digital media to determine those channels that will help you most efficiently and effectively connect with customers and prospects.

The channels that are right for you are the channels that your customers use—and the channels your prospects use in new markets you want to penetrate. For engineers and other industrial professionals, the top channels they use to research a work-related purchase are general search engines, online catalogs, and supplier websites. But they also use many other digital channels to keep up with the latest technologies, product news, companies and brands. E-newsletters, social media, industry websites and directories, and online events are all important information sources for your customers, and all exert influence over their buying decisions.

Follow these two recommendations
1. With many channels to choose from, it’s not always easy to know which ones are best given your target audience. Reach out to experts such as your digital media partners for recommendations on multichannel, integrated solutions that can help you achieve your marketing goals.

2. Download your complimentary copy of, “Marketers Require Multichannel Solutions to Achieve the Cross-Media Multiplier Effect” and share it with others on your marketing team. It offers you a better understanding of the multichannel mandate.

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Have you formulated a multichannel digital media strategy to reach industrial professionals? What tips and ideas would you pass along to your peers in industrial marketing? Share your thoughts in the comments section below.