Are you squeezing the juice out of your marketing budget?
The John Wanamaker quote that half of his advertising budget was wasted, but he didn't know which half, just doesn't cut it anymore. These days we need some bangs for all of our bucks.
Business-to-business marketing operates to a completely different set of rules from the business-to-consumer world. Yet it's amazing how often I find the same principles being applied. So I see clients spending money on advertising or SEO, even though they already know all their potential customers.
I hate wasteful marketing. So don't be surprised if I save you money; trust me, you'll end up with more customers, more profit, and a stronger market position.
I'm good at this.
[question] Do you already know your new customers?
Before you go far into your marketing strategy, try asking yourself the question that, for some reason, hardly anyone asks...
"How many potential customers do I actually have?"
A great many B2B companies have a comparitively tiny potential customer base. It's common for there to be only 50-100 companies in your reach that could buy what you're offering.
So how do a depressing majority of people market to this user base? They throw money at trade advertising, they optimise their Websites for search engines,
they shoot thousands of e-mails into the ether.
They throw their budgets at thousands of strangers instead of getting
to know the few people who could buy something.
I fail to see the logic in this. If you talk to me you'll find a lot of my approaches centre on getting you closer to a few customers, rather than shouting at a lot of uninterested strangers.
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