Welcome to the Dove Direct Print and Marketing Blog. Today's post, "B2B Brand Building Grows Marketshare," examines how long-term B2B brand building generates more market share growth in comparison to consumer channels. For some time now, the common perception among marketing experts is that B2C short term sales conversions are the way to go, and that brand building in part, relies on sales generated over the course of a marketing campaign. Therefore, in a nutshell, the prevailing notion that brand building can take a backseat if sales are resulting from short term bursts is not exactly correct.
Our Quote of the Day: "You can waste your lives drawing lines. Or you can live your life crossing them." - Shonda Rhimes Jon Lombardo, Global Lead for LinkedIn B2B Institute, starts the conversation with the following statement: "B2B marketers do not have to be any less creative, but the structure of their businesses could be holding them back. Typically product- and sales-led, B2B firms often value marketing less; as a result, meaning there is not always the same level of investment in the function. The research shows that when you invest in brand building, you get more market share growth in B2B than you do in B2C."
Sales Reps on the Back Burner A few short years ago, the automotive industry started to experience prospects being more informed than the sales staff. Internet access was and is the culprit behind expansive consumer knowledge, so much so that it changed the game. The infamous sales funnel was often a strategic reference point for marketing campaigns that followed a predetermined path. In short, a path that imparted information that led the prospect to a purchasing decision. The sales funnel concept still exists; however, when it comes to an understanding of the sales process value, the age-old sales funnel is being tossed on its head.
A report from E-consultancy is not only surprising but startling on its face. This report states that prospects complete 80% of a B2B purchase decision before contacting a sales representative. Consequently, the sales rep must codify the exact point where the well-informed buying prospects are in the funnel. And there's more. This brand-new shift of informed B2B buyers is also looking for and demanding the same type of personalized customer journeys and experiences they enjoy as B2C consumers.
The Shift Continues When change takes root for anything in our world, we must all decide to adapt and embrace it, or forgo it and face the inevitable consequences, either good or bad. That said, these shifts in B2B buyer expectations represent both challenges and opportunities for B2B organizations. We also contend that while B2B brands must make time to keep abreast of new digital technologies, in reality, B2B brands are falling further and further behind the proverbial digital eight ball. The business model for all brands and, most notably, B2B organizations, should be focused on discovering and harnessing the new technologies that are coming non-stop.
Smaller sized organizations are more nimble and agile when it comes to harnessing technological advancements. Their size allows them to disrupt the market place, convert market share to their brand(s), and change the game from the status-quo. In short, mastering digital transformation is an ongoing part of any business today, and most notably, B2B organizations need to step up and understand this technology advancement cycle.
Digital Transformation Helps Change It's no secret that B2B organizations are in the hunt to grasp digital transformation. However, it's all too commonplace to see B2B businesses focus on technology and then move on to processes. Regrettably, the very element that the technology and improved processes should help the most, the people, fall to the wayside. Therefore, when looking to achieve digital transformation opportunities, it is critical to realize that to bring about change, the best digital transformation strategies must help people change.
The challenge here is what happens when an organization alerts its staff with something along the lines of, "We are now in the process of transforming our business model to be more customer-oriented and will focus on efficient and improved customer experiences." In most of these situations, the staff hears, "We will be cutting people and replacing them with more automated software and computer systems." In short, this creates fear, uncertainty, and mountains of doubt. Leaders who fail to inject their staff with confidence and the excitement that accompanies better sales opportunities and brand building will suffer from the outset when trying to accomplish digital transformation.
The Net-Net Digital transformation is a huge task to undergo. It's also a long term prospect. Equally important is the fact that the staff needs to be included in the journey, educating and nurturing them while negating fears and uncertainty. Lastly, a B2B brand building undertaking will deliver better sales results than short term sales tactics. That said, the most important ingredient to achieve better sales is through a digital transformation that provides B2B buyers the same type of personalized B2C journey they already know and enjoy. Thanks for reading "B2B Brand Building Grows Market share!"
Let's have a conversation about integrated business solutions and how they can help grow your business, change behavior, and improve the customer experience. Join us at our next Open House. You can learn about our solutions, including direct mail strategies, printing, print software, transactional documents, variable digital printing, brand equity, and unified marketing collateral. We invite you to join us for an hour or two at our next Open House on March 26, 2020, from 10:30am to 3:30pm. You can also tour our 58k+ Sq. Ft. facility and experience our vast array of state-of-the-art print, mail, and sorting infrastructure. Let us show you how to improve your document processes to optimize your workflow, reduce your costs, and maximize your organization's printing, letter shop, and mailing capabilities.
Dove Direct, your Atlanta based print and mail solutions provider, offers organizations end-to-end data, printing, and mailing solutions: Data Management, Variable Digital Printing, LetterShop and Fulfillment, Fully Automated MLOCR Presort Bureau, Marketing and Production Management Support and Secure Data Life Cycle Management. If you don't want to wait for the Open House, you can reach Dove Direct today by calling 404-629-0122 or use the Contact Form for Dove Direct.
Welcome to the Dove Direct Print and Marketing Blog. Today's post, "New Marketing Strategies for 2020," examines what marketers, digital innovators, and brands are now contemplating if they want to re...