tag:blogger.com,1999:blog-9158842178911836730.comments2023-02-27T03:51:04.375-06:00The Marketing MélangeAnonymoushttp://www.blogger.com/profile/03967013949811058601noreply@blogger.comBlogger47125tag:blogger.com,1999:blog-9158842178911836730.post-47000493230839827782010-06-08T17:54:09.926-05:002010-06-08T17:54:09.926-05:00Very insightful and a great article.Very insightful and a great article.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-75588902960963942272010-03-15T10:56:02.151-05:002010-03-15T10:56:02.151-05:00Mike,
Thank you for posting this. I think 48% is ...Mike,<br />Thank you for posting this. I think 48% is good news. It means that 48% are using social media as a strategy and not a result. It means that they are using social media to help achieve business objectives, and not just have a Facebook page or a Twitter account, and the like.<br /><br />Rick HardyRicknoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-28162667301561398232010-03-11T18:30:15.294-06:002010-03-11T18:30:15.294-06:00Mike - Thanks for drawing this to our attention.
...Mike - Thanks for drawing this to our attention.<br /><br />I'm not terribly surprised. When social media works, the way it causes market action leading to sales has a very high degree of "untrackability".<br /><br />Certainly, for an entirely online play, you can measure leads with fairly good accuracy (50%? 60%?). But it you're at retail, separating out the influence of SoMe on your sales is extraordinarily tough.<br /><br />Besides, for many agencies, measuring any response is such a huge step that they haven't yet learned to measure the really important things.<br /><br />In fact, if we were able to rank this study against dollars, I wouldn't be surprised that no more than 5% to 15% of the SoMe dollars are being measured for lead or sale impact.<br /><br />It's too bad. But sounds closer to reality.<br /><br />...Doug GarnettAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-88034209884673791652010-03-11T11:51:21.230-06:002010-03-11T11:51:21.230-06:00I'm surprised that only 48% measure it, but no...I'm surprised that only 48% measure it, but not that it isn't a top goal. Social media IS more like PR - it's more about increasing influence than directly producing leads. For example, research has shown that people are more likely to click on AdWords ads for companies if they are already familiar with that company through social media. So, SM plays an influencing role but doesn't always get direct credit for producing the lead.Tom Pickhttp://webbiquity.comnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-53966468021660044802010-03-11T07:55:09.340-06:002010-03-11T07:55:09.340-06:00Mike - The 48% using lead generation as a measurem...Mike - The 48% using lead generation as a measurement is not a surprise to me. It wasn't long ago that social media was considered part of PR and using such tactics for marketing was taboo. As the philosopy evolves, and more companies use social media to generate new business leads that figure will grow.Mark Palonyhttp://www.wonderingoutloud.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-41814508530438264332010-03-04T18:17:06.660-06:002010-03-04T18:17:06.660-06:00Yahoo - we are not the only ones who have noticed ...Yahoo - we are not the only ones who have noticed this change. Well doneRobertahttp://www.budvietas.comnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-87603860365713780872010-02-03T11:44:40.707-06:002010-02-03T11:44:40.707-06:00Hi Mike,
I read with interest your post: The thre...Hi Mike,<br /><br />I read with interest your post: The three reasons that motivate B2B buyers to buy. I was particularly interested in your comment that “IT vendors tend to focus a lot on the features and functions of the solutions, their claimed technology leadership, their innovations, and how they are better than the competitors. It’s all about them and how wonderful they are and how wonderful it would be to be their customer…” I find this criticism to be quite universal. In the company I work for’s case, we support about 75 Microsoft partners, and I attend a lot of sales calls with them on their prospects. They all too often consume an inordinate amount of time extolling the virtues of their companies instead of understanding and solving what the prospects needs. After awhile, I can see the prospects getting restless. I often see a big change in their body language when I can finally start to ask them about their business and their problems. I think we all need to be reminded about that…great article.Joe Donlanhttps://www.blogger.com/profile/05741582887296048917noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-34652759687450110742010-01-07T15:59:25.729-06:002010-01-07T15:59:25.729-06:00Hi Mike,
Happy New Year! I just stumbled across ...Hi Mike, <br /><br />Happy New Year! I just stumbled across your blog while searching on B2B psychographics. :) <br /><br />I really like your post and agree with much of what you've said. I wish more folks would talk about psychographics in B2B marketing...it's essential! <br /><br />David Meerman Scott and the folks at Pragmatic Marketing have been stressing personas (i.e. psychographics) for a long time.<br /><br />The challenge, as I've encountered it is the research you point out...and the lack of actual personal knowledge of customers. Marketers shouldn't rely on sales to determine their customers' personas. They should be out there talking to them too! Social media helps with that, but there other ways to accomplish it that don't need to be so public (i.e. meetings, forums, councils, etc.).<br /><br />Beth Harte<br />Community Manager, MarketingProfs<br />@bethharteBeth Hartehttp://www.marketingprofs.comnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-83191710170238428112009-11-27T13:00:43.328-06:002009-11-27T13:00:43.328-06:00This is incredibly helpful info. I'm writing a...This is incredibly helpful info. I'm writing a paper on the SEO industry and I appreciate your great writing and helpful links!! :)Samanthahttp://computerrepairservicesblog.com/noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-62101649260837827932009-11-20T02:53:41.078-06:002009-11-20T02:53:41.078-06:00Good read! thank you.Good read! thank you.Maryamnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-45104133309959619422009-11-19T14:52:56.157-06:002009-11-19T14:52:56.157-06:00Im not sure the differences are relevant really.
...Im not sure the differences are relevant really.<br /><br />My customer approach is to understand what the need or want specifically, and map it to an architecture model that delivers the maximum value.<br /><br />"Cloud" was designed out of the gate as a buzz word (the industry is almost fully marketing driven these days), so it's no surprise it is a little more than a buzz word.<br /><br />The semantics may be important from a branding standpoint, but not so important to the customer.<br /><br />They have a problem to solve. Either "I spend to much running this infrastructure and want it out" in the case of an enterprise or "I want to be able to always have access to all of my "stuff" and share it with my friends wherever I am" in the case of a consumer or "I'd like to build an application that scales dynamically and rapidly, with global reach, and leverages vast stores of public data" in the case of a developer.<br /><br />Once the needs have been defined, they can be mapped to a model that delivers the capabilities required. Whether it is SaaS, IaaS, PaaS, and on and on (or some mixture of all of them) is something the marketing folks can puzzle over :)<br /><br />Ideally, from a provider standpoint, a single platform should be dynamic and automated enough to both allow for, and self configure for, any of these scenarios. That is the only way to achieve the economies of scale and agility required to adapt to emerging customer needs without massive reinvestment.The Extreme Moderatehttps://www.blogger.com/profile/12111522578453453534noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-9255762733418731902009-11-19T10:22:45.914-06:002009-11-19T10:22:45.914-06:00Oh, the tangled web we marketers weave. I agree wi...Oh, the tangled web we marketers weave. I agree with your differentiation although I believe that the confusion is caused at times by ignorance and at other times by intent.Anonymoushttps://www.blogger.com/profile/17975146450107615036noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-19902746840167904552009-11-13T10:39:20.533-06:002009-11-13T10:39:20.533-06:00Mike,
One problem at a few of the companies I work...Mike,<br />One problem at a few of the companies I work with is bandwidth. As you report, they perceive the risk involved. They want to "control" their social media communications just as they control their marketing and advertising programs. But they have no one internally who has the time to dedicate to doing it right. So they would rather not do it than not have control over it. Some are considering outsourcing their "official" social media interactions, but I think they might still block employee use because they cannot "control" that.<br />SusanSusan Fantlehttp://b2bmarketingsmarts.comnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-40714774034806105122009-11-13T02:44:09.559-06:002009-11-13T02:44:09.559-06:00Interesting article. Nice research. I also thinks ...Interesting article. Nice research. I also thinks that there's a fear in social media if you don't know how to execute in the right way. We all know that spammer are also joining social media sites to spam the members. And if you don't know how to promote your site in the right way some members might actually think that you're a spammer.seo serviceshttp://www.seobrandmedia.com/noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-792061197292839892009-11-12T12:16:00.686-06:002009-11-12T12:16:00.686-06:00Excellent post Mike, helpful to see some research ...Excellent post Mike, helpful to see some research and numbers around what I've seen anecdotally (and blogged about a while back in a post on social media ostriches: http://webmarketcentral.blogspot.com/2009/04/social-media-ostriches.html).<br /><br />I think there's still a great deal of misunderstanding at senior levels of what social media can and can't do, and the risks of participating vs. the risk of not participating.Tom Pickhttps://www.blogger.com/profile/04619907810304128318noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-8243764838914333902009-11-12T10:56:56.019-06:002009-11-12T10:56:56.019-06:00It is interesting the use of the words "fear&...It is interesting the use of the words "fear" and "worry". That speaks volumes. We need to embrace these new techologies and networking sites. They are hear to serve not to hinder when used intelligently.Anonymoushttp://www.thewovengarden.comnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-1202652699138487172009-10-16T11:46:31.594-05:002009-10-16T11:46:31.594-05:00I received this comment via email from someone who...<b>I received this comment via email from someone who wishes to remain anonymous:</b><br />I read with interest your blog today since I think the idea of giving the licenses away for free has tremendous merit, but I do have a fundamental question. Don’t all your arguments from the previous week (when offering CRM for free with ERP) also apply if you offer all the software for free? For example, <i>“The vendor is debasing the product they’re giving away by openly declaring that it has no license value”</i>.<br /><br /><b>My response:</b><br />Good observation and question. The difference IMO is that selling one product and giving another product away, debases the value of the product being given away – it’s a declarative position that a vendor is attaching zero value to a product in comparison to others. However, if all products have no initial license cost, it reflects a completely different business model of how value is delivered to customers and revenue is generated. Therefore, all products are delivered on the same basis in a new delivery/pricing model and none are debased relative to others.Anonymoushttps://www.blogger.com/profile/03967013949811058601noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-72183131814406230582009-10-15T23:32:55.635-05:002009-10-15T23:32:55.635-05:00Mike,
Great discussion. Certainly from an economi...Mike,<br /><br />Great discussion. Certainly from an economics perspective I agree with your premise. I think if you look at the cost structure of these same companies you will find while they spend 20 - 22% on marketing, most of that is in headcount. They would dismantle the revenue supporting part of their business (the sales teams work as hard as anyone) and they still wouldn't deliver the value that you call for in your creating value for customers link. Their revenue on services pales in comparison to the revenue earned by the Systems Integrators of the world. The ecosystem is incestuous and the customer is left wanting. So free or not, the software's value fails to deliver 93% (CIO.com) of the time. Customers only think they get 68% of what they paid for on an enterprise project. <br /><br />20 years ago, when the core architecture of these systems was built, the problem was caste. The market need they responded to was the need to consolidate operational control. Primarily from a financial perspective and some from a manufacturing/scheduling perspective. A lot of their customers had non-integrated applications that were adjacent to each other causing redundant data and duplicate effort. Complex, large scale applications that consolidated control was the seeming answer. For the last 10 years we have seen the impact these systems have had; good for the software companies and services companies, bad for the customer. <br /><br />So, yes, free would be better. But it still leaves the value question on the table.<br /><br />SteveSteve Christensenhttp://www.babblewareinc.comnoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-19720116557198573622009-10-15T10:26:12.932-05:002009-10-15T10:26:12.932-05:00Mike,
You suggest an interesting pricing strategy...Mike,<br /><br />You suggest an interesting pricing strategy. Thinking about it, I asked myself what anchors the traditional on-premise software developers to their current model?<br /><br />The financial reports you mentioned could be one piece of it. Traditionally, these companies have been judged on the ratio of license to services and maintenance. Too little license revenue could spell trouble. Of course, that may just be a matter of retraining the market.<br /><br />Then, of course, there are those companies that sell products through a reseller channel. Some of them make their living (not usually the successful ones) off of license revenue. The vendors need these feet on the street to help them sell product, but I think you could tackle this issue by changing the way these VARs are paid. SaaS vendors are already trying to tackle this so I’d take a close look at how they are handling channel sales compensation.<br /><br />Very interesting challenge to wrestle with, isn’t it?<br /><br />All the best!<br /><br />MelissaAnonymoushttps://www.blogger.com/profile/17975146450107615036noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-63660100939816618932009-10-14T11:16:29.364-05:002009-10-14T11:16:29.364-05:00Red, can you point me to an example ie your web si...Red, can you point me to an example ie your web site?Eric Schwantlernoreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-58811571280187833152009-10-13T17:47:22.528-05:002009-10-13T17:47:22.528-05:001. Price is an elephant in the room. Everyone is s...1. Price is an elephant in the room. Everyone is stressed out about it unless the service provider calls it out and diffuses it by being transparent and forthcoming. <br />2. Consultative selling is more worthwhile for us once we know we have a good client. Seriously... there are not-good clients and I want to avoid long term engagements with them. <br />3. We tested what happens when we're transparent and it was great; so we did more of that. We've rolled out several dozen fixed fee packages and tell on our site what they cost and how they work. Not only do people buy them, they pre-pay for them. That's my indicator that prospects 'get' our value proposition -- and get that marketing ROI is a ratio.Redhttp://blog.b2bcommunications.com/2009/02/11/b2b-marketing-services-pricing-an-elephant-in-the-room/noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-8526328895217082302009-10-08T13:31:11.276-05:002009-10-08T13:31:11.276-05:00Mike,
I tend to agree with you, but maybe it’s be...Mike,<br /><br />I tend to agree with you, but maybe it’s because I’ve never seen it work either. (same issues you cite) I might keep it in my back pocket for a particularly tough negotiation, but that can also leave you up to a yearly negotiation on those maintenance fees. <br /><br />It seems to me that vendors that follow this path are trying to take the aspects of the SaaS route that make it an easier upfront sale. However, SaaS providers don’t devalue their product because it is their model. The mixed model, for whatever reason, leaves the customer with mixed messages.<br /><br />MelissaAnonymoushttps://www.blogger.com/profile/17975146450107615036noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-3968345444184864432009-10-07T07:05:16.139-05:002009-10-07T07:05:16.139-05:00There is an extended discussion about this post on...There is an extended discussion about this post on the LinkedIn Sales/Marketing VPs & Directors - Software & Technology group at: http://bit.ly/bUvxP<br />You have to member of this LinkedIn group to view the discussion.Anonymoushttps://www.blogger.com/profile/03967013949811058601noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-13550563278166277882009-10-01T20:47:31.656-05:002009-10-01T20:47:31.656-05:00Mike,
I’m eager to hear what others have to say a...Mike,<br /><br />I’m eager to hear what others have to say about setting realistic forecasts and sales quotas. I worry most when leaders start to limit their expectations to what is realistic. To me it seems like a license to just keep doing what they’ve always been doing – something that marketing teams are every bit as guilty of as sales. <br /><br />Perhaps the reason SaaS revenues are up is because they had to somewhat reinvent the sales and marketing process for this delivery model. Of course, SaaS is also becoming a much more attractive option to those who would previously only have looked at on-premise solutions.<br /><br />All the best!<br />MelissaAnonymoushttps://www.blogger.com/profile/17975146450107615036noreply@blogger.comtag:blogger.com,1999:blog-9158842178911836730.post-16570910211554417942009-09-24T09:02:55.627-05:002009-09-24T09:02:55.627-05:00Mike,
Really valuable insights. This is one of th...Mike,<br /><br />Really valuable insights. This is one of the reasons why sales gets frustrated with their marketing counterparts. When the pipeline dries up and sales are down they come to marketing looking for ways to fill it back up – quickly. Unfortunately, by then it’s too late and most of the activities that marketing executes are generating opportunities for the following quarters or longer – depending on your sales cycle.<br /><br />There are some “quick fix” type campaigns that marketing can assist with. e.g. calls into the database or add-on sale campaigns to existing customers. However, you have to be careful with an “all hands on deck” approach to fixing a sales slump in the short term. If you take marketing management’s eye off the future, you’ll risk distracting them from focusing on those critical campaigns that will ensure a full pipeline down the road. <br /><br />MelissaAnonymoushttps://www.blogger.com/profile/17975146450107615036noreply@blogger.com