3) Harness the power of Analytics.
4) Participate in the Online Discussion.
5) Make it simple to get!
For the convenience, a few of the key terms discussed in this whitepaper are summarized below.
Marketing 2.0 represents a net-enabled shift from selling to buying, delivers a new permission-based 1:1 relationship between seller and prospects, and is powered by new net-based automation and real time analytics.
Inbound Marketing encourages prospects to find you (the seller) when they're trying to find options, versus Outbound Marketing in which you broadcast to prospects in the hope they are interested in your message.
CRM/SFA: Software systems kept by sales, that store prospect, customer and sales chance customer data.
SAMA: Comprises Web Analytics, Demand Generation, Reputation Management, and CRM/SFA automation.
ROMI: Return On Marketing Investment. SAMA closes the loop between advertising investment and sales returns.
In the Deputy Minister of Forestry, I sat across the table as a youthful marketing rep to get a manufacturer of capital equipment.
I found the maintenance manuals we sent with every piece of gear never made it to the subject. In those days information was power, along with the Deputy Minister of Forestry was not about to let any power slip out of his grip: he kept every manual and each tucked away in Moscow in his big office. You had to contact Moscow and ask him, if you wanted that advice.
That was the universe of 1.0. Everything revolved around commanding the info, commanding the dialog, and commanding the message. People assembled silos around their proprietary information. Everyone zealously protected their turf.
This unfettered access to information has empowered the individual user, with remarkable consequences for both promotion and sales. Information which is immediately open to anyone with the Internet connection who cares to look for it.
And with the tap of a mouse, power has changed to buyer.
WHAT EXACTLY IS MARKETING 2.0?
It certainly seems like we have a fascination with everything "2.0" these days. It is enough to make your head spin.
The origin of all these transformations is, obviously, the internet. Web 2.0 provides user empowerment, interaction, collaboration, and sharing of information.
Has Web 2.0 transformed home and garden in the same way? But at a much more profound level than you expect at first glance. Sure, now you can participate in the most recent buzz, like "glocalization", "zalking", "business clouding", and "geostreaming". It's possible for you to blog your approach to blogosphere stardom, and tweet your entire co-workers, clients, and suppliers ad nauseum. But if this is the extent of your new advertising paradigm, you're really missing the boat.
From Selling to Purchasing
Hereis the big picture: with web2.0, power has simply shifted in the seller to the purchaser. The buyer no further depends on the seller for the advice she or he needs to make the purchasing choice. Now, the information is only "out there" 7/24: Business trends, company and products, features and advantages, pricing, channels, testimonials. When it's not available on "official" sites, then it's through web2.0 vehicles like sites and internet communities. The important thing is that prospects and buyers are empowered to create decisions without you, the seller.
As a business to business marketer, if you are feeling this "loss of control" is scary, you're not by yourself. But before you contemplate a career change, consider the corresponding shift from Promotion 1.0 to Marketing 2.0 really carries more opportunities than threats.
From Outbound to Inbound
The first opportunity is to replace an ineffective marketing model using a more effective strategy. As opposed to the technique that is outbound, where you smash advertising messages out in the expectation that someone will pay attention, the model that is inbound has would-be buyers seeking you out to get info and insight. Seth Godin calls this a move from interruption marketing to permission marketing. Either way, the end result is efficient and more effective for both the seller and also the customer.
Since that is the easiest method for prospects to find you anytime and from anyplace, inbound advertising brings prospects to your web site. And, as the research shows, now's business to business buyers overwhelmingly use the Internet as their primary instrument for studying solutions to their company needs.
Why? As the digital temperament of the Internet allows you to readily automate for efficiency and speed, track activity and all traffic, and capture info into one eCRM database.
From Guide to Automation
Marketing 2.0 revolves around the web, and the internet is too large and too quick to cope with manually. Moreover, prospects expect you to be "open for business" 24/7 online. Herein lies the 2nd opportunity: Marketing 2.0 uses the powerful technology of SAMA to help you cope with the scale and scope of the web - all while reducing costs and working more efficiently.
Put simply, you're able to finally answer the age old question of which 50% of the marketing budget is creating results.
Through time, SAMA systems use their priceless database of market tastes and prospects, to shine a lens on special market segments, individual prospects, as well as your marketplace as a whole. New rates of micro- laser targeting, segmentation and 1:1 that is true advertising are now possible. Think about the competitive advantages such priceless real time insight provides to your own sales and marketing teams.
Marketing 2.0 represents a web-enabled shift from selling to buying, delivers a new permission-based 1:1 relationship between seller and possibilities, and is powered by new web-based automation, real time analytics, and market insight.
Some things never change
As you adopt the strong new universe of 2.0, it is important not to fail those promote 1.0 elements that continue to function: a sound marketing strategy for example, that still revolves around Porter's Five Forces, and the principles of segmentation, targeting, and placement. Three of the 4Ps are also still the same: Price, Product, and also Set (especially for bricks and mortar B2B companies). Only Promotion has drastically transformed.
And sales and advertising continues to be about people dealing with individuals. Implemented well, Marketing 2.0 really fortifies this relationship between the possibility, promotion, and sales.
5 PRACTICAL STEPS TO MARKETING 2.0
Yet, before we set off to embrace the chances of Marketing 2.0, it's worthwhile to indicate, as with any journey, that it pays to understand where you are going before you depart. So be sure to establish clear, measurable aims beforehand for what you would like to reach. As an example, you can want:
MEASURE 1: Shift from outbound to inbound marketing
The aim here is to discontinue interruption marketing, where prospects come to you with their interests and buying needs, and participate in permission marketing. Utilize the following Inbound Promotion methods to turn your site into a prospect magnet.
SEO (Search Engine Optimization): Begin with developing your "keyword identity". Find those keyword phrases that you can successfully compete on, and that will minimize prospect "rebound" and maximize conversion. Afterward optimize the content and construction of your site around those key word phrases. Eventually, create purposeful outside backlinks to your website, to boost your website 's credibility and value to search engines like google. So don't simply leave it to the techies successful SEO is just as much a marketing activity as this is a technical one.
PPC (pay-per-click advertisements): If needed, compliment your SEO with PPC around this same "key word identity".
Measure 2: Automate
The entire world of internet-based inbound marketing is too big and too fast to handle manually. So tap into SAMA technology, and automate the generation and management as well as the routine repeatable tasks, like data analysis of inbound sales leads. Free up sales and marketing for value-added, tactical activities as well as the close of deals. Two key components of SAMA are:
Standing Management Automation: Track the online dialog about your products your company, and your brand in classic news media and societal. Ascertain the tendencies in either negative or positive perception, and find the key points of influence that drive those tendencies, letting you interact and affect the conversation.
Employ a Demand Generation applications option to automate management and the generation of inbound sales leads. Collaborate to automate best practices and set business rules to automatically rank, score, and nurture possibilities, and determine at what period a prospect is willing to be given to sales. Seamlessly integrate prospect profile and "digital footprint" info along with your CRM or SFA systems.
Measure 3: Exploit the power of marketing 2.0 analytics
Shift advertising from an art to a science. Together with the digital world and SAMA comes the capacity to catch and process huge levels of information, letting you close the loop and get opinions in real time from your own market and individual prospects.
Joining the dialogue in related social media is another chance to realize McKenna's shutting the loop.
Join the Dialogue: Locate the essential sites, sorts, and communities in your business. Listen to problems, industry trends, and concerns. Express your unique outlook, and point others back to your content that is valuable as well as your website, so that you can build backlinks and boost the credibility of your site's with search engines.
Measure 5: make it simple to get!
This step might appear low-tech, but at the heart, this really is really what Marketing 2.0 is all about. Believe Purchasing, not selling. Empower the Customer.
Consider not only your prospect's initial online experience, but the entire customer interaction lifecycle - from first contact, to training and after-sales support.
As a B2B marketer, recall that the customers must buy. Unlike in B2C, where many purchases are discretionary, B2B customers need your products to keep their own companies running. It's not a itis a demand. Therefore what frequently determines where they purchase is how simple you make the buying procedure.
In other words, allow it to be possible for the customer to purchase from you, and you will have a customer for life.