Recent reports have indicated the economy is starting a slow recovery. Depending on the report, the U.S. economy is projected to grow between 3 to 4 % in 2011. As the economy continues its slow recovery, businesses in the construction industry face dynamic challenges. However, while many tighten their belts and cut their expenditures, in challenging economic times and competitive conditions, marketing is more important than ever. While dollars may be tight, studies show that a consistent presence in the marketplace now will pay dividends in the future. The challenging economy presents an excellent opportunity to review your marketing efforts and ensure you are acquiring new and retaining existing customers. Further, many have shown that marketing dollars invested in a down economy are actually more valuable than those spent in a good economy as you gain greater market presence.
Regardless of the economy, marketing strategies must be constantly reviewed to ensure business goals are being met. This is definitely true in a down economy, as it is a great time to take advantage of limited marketing spending by others, which improves your chances of getting noticed and standing out. In other words, turn the challenging economy into an opportunity. Although it may seem prudent or even appear to be a good business decision to cut back on marketing costs to “save money,” it is very important to maintain consistency and stay true to your marketing goals. After all, the need for building a brand and creating awareness, as well as generating leads for opportunities, doesn’t go away when the economy is sluggish. In fact, it is more important than ever.
Many would even argue that marketing during a downturn actually gets you more “bang for your buck.” In fact, marketing dollars invested during down economies when others are cutting back are more valuable than dollars spent in more vibrant economies. This is because that dollar spent represents a greater share of the total marketing expenditure. After all, when your competitors choose to cut back on their advertising and marketing budgets, such a scenario results in less of a presence from your competition in the marketplace and a greater impact will be realized with your efforts. For example, as competitors cut back marketing spending, they are likely cutting back on investments in search engine optimization and marketing. Take advantage of this and rise in the search engine result pages. Further, with decreased revenue, many publications may be willing to negotiate lower prices or value-added package deals, editorial opportunities, or even merchandising opportunities. It also is a great time to invest in public relations as publications may tighten their freelance budgets and are likely looking for article content. Another opportunity may be creative partnerships with vendors such as trade show hosts, printers, advertizing agencies and more as these firms want to keep their own staffs busy and may be willing to negotiate more than during the bustling times. Digital media is another opportunity. Be sure to take advantage of the efficiencies of digital which include lower costs and improved tracking opportunities.
Marketing and advertising during a sluggish economy also boosts the confidence that customers and potential customers have in your company as your consistent market presence will deliver the message that you are a strong, viable, stable company. Such a message contributes to long-term brand building and supports your differentiation strategy. And, when the economy builds again, the top-of-mind awareness you’ve built will result in a sustainable competitive advantage.
In sales, there typically is not a better source of future revenue then your current customers. And, this holds true in tight economic times. Your current customers already have a relationship with you, and hopefully you have performed for them. Marketing to your current customers is critical during downturns. Continue to invest in integrated marketing programs to maintain constant contact with your customers. Find more ways to add value by offering current customers a new or expanded offering of services and products. Offering complimentary services and products is an excellent way of providing more value to your customers. This can also be achieved by forming strategic alliances with companies that offer complementary products and services. Again, the goal is to find opportunities to provide more value and forge deeper relationships.
While downturns in the economy are challenging, they also force us to look at our activities and initiatives and make tough decisions. In reality, this is a very healthy process, and forces us to look at the return on marketing investment. A critical evaluation of marketing investments will result in greater efficiencies and more effective programs.
Consistency is important in marketing. Consistent investments in marketing yield consistent results in terms of lead, opportunities, closed sales and ultimately, profits. Resist the urge to slash marketing investment and seize the opportunity build your brand, generate more opportunities, and drive more profitable revenue.
CIM MBA Program
Showing posts with label b-to-b marketing. Show all posts
Showing posts with label b-to-b marketing. Show all posts
Sunday, February 06, 2011
Friday, January 08, 2010
Industry Veterans Author "Leading With Marketing"
Brian Gallagher and Kimberly Kayler, CPSM, both long-time architecture/engineering/construction (AEC) industry veterans, have announced the publication of their book entitled Leading with Marketing.
Published by AuthorHouse and available from amazon.com, the American Concrete Institute as well as through Hanley Wood at the World of Concrete, to be held Feb. 1-4 in Las Vegas, the book is a comprehensive resource for creating, building and managing successful AEC marketing programs.
According to Gallagher, investing in marketing initiatives can be a key driver for profitable growth for AEC firms. These marketing initiatives ultimately lead to a constant flow of new business opportunities.
“We have seen first-hand the impact marketing can have on growing AEC firms,” said Gallagher. “This book is designed to provide an overview and a roadmap for all involved in marketing and sales in the AEC industry.”
According to Kayler, Leading With Marketing embodies how a company approaches their business, their marketplace, and their customers.
“Whether it is handled by a department or an individual, marketing is a leadership function in every AEC firm,” said Kayler. “When companies lead with marketing, they choose which markets to target, what services to offer, how to differentiate, how to communicate, and how to win.”
Based on years of actual experience with a diverse variety of companies and associations in the AEC industry, the authors wrote this book with the intent of bridging the gap between traditional marketing concepts and emerging marketing trends, while providing a contextual link to the construction business. The authors note that this is not another book about how to write a marketing plan. Rather, the mission of this book is to help change the way those in the industry think about marketing, so firms can select the right target audiences, communicate with them effectively, and create profitable opportunities. It is designed specifically as a tool for professionals in the AEC fields that are providing leadership to the marketing efforts, with a complete overview of marketing process, tools, systems and best practices. Companies that market services such as architecture, engineering and construction services; as well as companies that sell products, such as materials, systems, and other products used in construction, will find the marketing principles outlined in this book to be beneficial.
Gallagher has served in executive level marketing positions with industry leading engineering, construction and manufacturing organizations. In his roles with O’Neal, Inc, Structural Group and Williams Scotsman, he has provided strategic leadership to the sales and marketing teams. His extensive background and knowledge of the construction industry enables innovative and effective marketing programs. He frequently writes and speaks on marketing topics. In addition, he has co-founded a marketing and sales consultancy, GBM Marketing, and launched several industry-specific web portals.
Gallagher holds a bachelor’s degree in Marketing from Towson University and an M.B.A. from Loyola College. He also has served as an Adjunct Assistant Professor of Marketing at Loyola College. He has served in leadership roles for various committees with the American Concrete Institute, the Post-Tensioning Institute, the Concrete Industry Management Program, and other organizations. He also is a member of the Society of Marketing Professional Services.
With a journalism degree and a decade of high-level experience serving engineering, architecture and construction firms as a corporate marketing executive, as well as experience working for a full-service advertising/marketing communications agency, Kayler started Constructive Communication, Inc. in 2001 to serve the needs of technical and professional service firms. Clients include five international concrete associations; a variety of general contractors, engineers and architects from around the country; as well as firms in the aerospace, chemical and industrial sectors. Services provided by the growing Constructive Communication, Inc. team include technical writing, proposal development, public and media relations, social media and marketing/communications.
The author of more than 1,250 published articles on a variety of concrete, construction, design, marketing and other technical subjects, Kayler was the first to earn the Certified Professional Services Marketer designation in the state of Ohio from the Society of Marketing Professional Services. She is a frequent speaker on technical marketing and public relations and is a registered provider through the American Institute of Architects. Although she is a graduate of the University of Arizona, she now calls Columbus, Ohio home. She has a M.S. in Organizational Management with an emphasis in Leadership from Capella University and she is a member of the Society for Marketing Professional Services, the Construction Specifications Institute and the Women Construction Owners & Executives. Her firm is a Certified Women’s Business Enterprise as well as a certified participant in Ohio’s Encouraging Diversity, Growth and Equity (EDGE) program through the Equal Opportunity Division of the Ohio Department of Administrative Services. She is a volunteer with the Junior Achievement program and she serves on the Board of Director for the Dublin Foundation, the Dublin Convention & Visitors Bureau, as well as the Small Business Council of the Columbus Chamber of Commerce.
Although only just introduced to the marketplace, the book has already been well received.
“Leading With Marketing should become a basic primer for anyone or any organization marketing products and/or services in the AEC market arena. Construction management, architecture and engineering programs could use this book as a text or guide. It should be a lesson to us that marketing should and must be a vital part of our overall strategies for success going forward. My compliments to the authors for their well thought out and explicit thoughts on how to create viable and successful marketing programs in the AEC marketplace. This book is a great read,” said Jack Wyatt, Vice President, Chief Marketing Officer, Acton Mobile Industries.
"Having worked with Brian and Kimberly for many years and seeing the direct results of their wisdom help Structural Group grow to over 500-million in sales, now having their wisdom detailed in this great book will allow more of us to apply marketing strategies to our everyday business. I highly recommend this book to every architectural, engineering and contracting company that desires a profitable growth strategy," said Peter Emmons, CEO and Founder of Structural Group (Hanover, Md.).
The cost of the book is $49.95. More information about the book, its contents and how to order can be found at http://www.leadingwithmarketing.com/.
Published by AuthorHouse and available from amazon.com, the American Concrete Institute as well as through Hanley Wood at the World of Concrete, to be held Feb. 1-4 in Las Vegas, the book is a comprehensive resource for creating, building and managing successful AEC marketing programs.
According to Gallagher, investing in marketing initiatives can be a key driver for profitable growth for AEC firms. These marketing initiatives ultimately lead to a constant flow of new business opportunities.
“We have seen first-hand the impact marketing can have on growing AEC firms,” said Gallagher. “This book is designed to provide an overview and a roadmap for all involved in marketing and sales in the AEC industry.”
According to Kayler, Leading With Marketing embodies how a company approaches their business, their marketplace, and their customers.
“Whether it is handled by a department or an individual, marketing is a leadership function in every AEC firm,” said Kayler. “When companies lead with marketing, they choose which markets to target, what services to offer, how to differentiate, how to communicate, and how to win.”
Based on years of actual experience with a diverse variety of companies and associations in the AEC industry, the authors wrote this book with the intent of bridging the gap between traditional marketing concepts and emerging marketing trends, while providing a contextual link to the construction business. The authors note that this is not another book about how to write a marketing plan. Rather, the mission of this book is to help change the way those in the industry think about marketing, so firms can select the right target audiences, communicate with them effectively, and create profitable opportunities. It is designed specifically as a tool for professionals in the AEC fields that are providing leadership to the marketing efforts, with a complete overview of marketing process, tools, systems and best practices. Companies that market services such as architecture, engineering and construction services; as well as companies that sell products, such as materials, systems, and other products used in construction, will find the marketing principles outlined in this book to be beneficial.
Gallagher has served in executive level marketing positions with industry leading engineering, construction and manufacturing organizations. In his roles with O’Neal, Inc, Structural Group and Williams Scotsman, he has provided strategic leadership to the sales and marketing teams. His extensive background and knowledge of the construction industry enables innovative and effective marketing programs. He frequently writes and speaks on marketing topics. In addition, he has co-founded a marketing and sales consultancy, GBM Marketing, and launched several industry-specific web portals.
Gallagher holds a bachelor’s degree in Marketing from Towson University and an M.B.A. from Loyola College. He also has served as an Adjunct Assistant Professor of Marketing at Loyola College. He has served in leadership roles for various committees with the American Concrete Institute, the Post-Tensioning Institute, the Concrete Industry Management Program, and other organizations. He also is a member of the Society of Marketing Professional Services.
With a journalism degree and a decade of high-level experience serving engineering, architecture and construction firms as a corporate marketing executive, as well as experience working for a full-service advertising/marketing communications agency, Kayler started Constructive Communication, Inc. in 2001 to serve the needs of technical and professional service firms. Clients include five international concrete associations; a variety of general contractors, engineers and architects from around the country; as well as firms in the aerospace, chemical and industrial sectors. Services provided by the growing Constructive Communication, Inc. team include technical writing, proposal development, public and media relations, social media and marketing/communications.
The author of more than 1,250 published articles on a variety of concrete, construction, design, marketing and other technical subjects, Kayler was the first to earn the Certified Professional Services Marketer designation in the state of Ohio from the Society of Marketing Professional Services. She is a frequent speaker on technical marketing and public relations and is a registered provider through the American Institute of Architects. Although she is a graduate of the University of Arizona, she now calls Columbus, Ohio home. She has a M.S. in Organizational Management with an emphasis in Leadership from Capella University and she is a member of the Society for Marketing Professional Services, the Construction Specifications Institute and the Women Construction Owners & Executives. Her firm is a Certified Women’s Business Enterprise as well as a certified participant in Ohio’s Encouraging Diversity, Growth and Equity (EDGE) program through the Equal Opportunity Division of the Ohio Department of Administrative Services. She is a volunteer with the Junior Achievement program and she serves on the Board of Director for the Dublin Foundation, the Dublin Convention & Visitors Bureau, as well as the Small Business Council of the Columbus Chamber of Commerce.
Although only just introduced to the marketplace, the book has already been well received.
“Leading With Marketing should become a basic primer for anyone or any organization marketing products and/or services in the AEC market arena. Construction management, architecture and engineering programs could use this book as a text or guide. It should be a lesson to us that marketing should and must be a vital part of our overall strategies for success going forward. My compliments to the authors for their well thought out and explicit thoughts on how to create viable and successful marketing programs in the AEC marketplace. This book is a great read,” said Jack Wyatt, Vice President, Chief Marketing Officer, Acton Mobile Industries.
"Having worked with Brian and Kimberly for many years and seeing the direct results of their wisdom help Structural Group grow to over 500-million in sales, now having their wisdom detailed in this great book will allow more of us to apply marketing strategies to our everyday business. I highly recommend this book to every architectural, engineering and contracting company that desires a profitable growth strategy," said Peter Emmons, CEO and Founder of Structural Group (Hanover, Md.).
The cost of the book is $49.95. More information about the book, its contents and how to order can be found at http://www.leadingwithmarketing.com/.
Friday, November 20, 2009
Will You Be Ready?
I recently attended an Economic Summit focused on commercial real estate and construction. Like the other attendees, I was eager to hear what the panel of experts had to say about the economy. As expected, uncertainty was the common theme relayed by each speaker. In reality, no one knows what the future holds for the AEC industry. The stimulus package has not really had the impact on construction many had hoped for when it passed Congress. While we cannot predict how soon the construction industry will rebound, we can start to plant the seeds to position our companies for business when the rebound happens.
For AEC marketers, this should involve developing and implementing strategic marketing plans and tactics. Previously, I’ve written about the importance of marketing in a down economy. Investing in marketing is even more critical as we start a recovery. While I doubt we will come out of this economic downturn as quickly as we have in the past, I believe it will be faster than most expect. Marketing has a critical role in an AEC organization. The role is being a strategic thought leader, and that includes vision. Firms need to invest in activities to build awareness, deliver messages and position the firm. These activities are even more important in a soft economy.
Now is a great time to invest in marketing. Many companies have cut back on marketing investments and activities. Just look at any industry trade publication and see that advertising is down. When advertising is down, there’s an even greater opportunity for you to stand out as you are competing with fewer messages. Trade show attendance is down significantly. However, by cutting out key industry shows, you may be conspicuously absent and send the wrong message to your customers. An interesting fact I’ve observed is that show attendance may down, but those attending the shows seem to be serious buyers.
Social media and digital marketing are also effective ways to maintain your company’s presence in the market place. All digital and social efforts, however, need to be part of the overall marketing communications strategy.
Consider using direct response tools to remind and inform your prospects and customers about your services. Share completed projects, news and resources with them. This can be effective to remain relevant, maintain your brand position and generate leads.
Most importantly, keep your sales team in front of customers. Your sales assets are your best link to the customer. While the customers may not be buying today, they will buy from those who continued to call on them.
Invest now in marketing to raise your image and provide your clients with good information, resources and advise. No one knows when we will rebound, but by continuing to invest in marketing you will be ready.
For AEC marketers, this should involve developing and implementing strategic marketing plans and tactics. Previously, I’ve written about the importance of marketing in a down economy. Investing in marketing is even more critical as we start a recovery. While I doubt we will come out of this economic downturn as quickly as we have in the past, I believe it will be faster than most expect. Marketing has a critical role in an AEC organization. The role is being a strategic thought leader, and that includes vision. Firms need to invest in activities to build awareness, deliver messages and position the firm. These activities are even more important in a soft economy.
Now is a great time to invest in marketing. Many companies have cut back on marketing investments and activities. Just look at any industry trade publication and see that advertising is down. When advertising is down, there’s an even greater opportunity for you to stand out as you are competing with fewer messages. Trade show attendance is down significantly. However, by cutting out key industry shows, you may be conspicuously absent and send the wrong message to your customers. An interesting fact I’ve observed is that show attendance may down, but those attending the shows seem to be serious buyers.
Social media and digital marketing are also effective ways to maintain your company’s presence in the market place. All digital and social efforts, however, need to be part of the overall marketing communications strategy.
Consider using direct response tools to remind and inform your prospects and customers about your services. Share completed projects, news and resources with them. This can be effective to remain relevant, maintain your brand position and generate leads.
Most importantly, keep your sales team in front of customers. Your sales assets are your best link to the customer. While the customers may not be buying today, they will buy from those who continued to call on them.
Invest now in marketing to raise your image and provide your clients with good information, resources and advise. No one knows when we will rebound, but by continuing to invest in marketing you will be ready.
Wednesday, April 15, 2009
B-to-B Applications of Twitter
Social media has gained a significant foothold in business-to-business marketing. The use of Twitter as a business marketing tool has grown significantly. Twitter is a web-based social messaging tool that allows users to post a message to update their followers.
Like other social networking tools, Twitter began as a way for people to keep-up with each other. Forrester Research reported that over 7 million people are using Twitter. As a social networking tool, Twitter ranks just behind Facebook and MySpace. But what is significant from a marketer’s perspective, Twitter has quickly gained acceptance as a marketing tool. While this doesn’t seem like cutting edge, it is an easy and effective way for marketers to reach their target audiences and engage their customers. Known as “tweets,” Twitter postings typically are short messages, and conversations, about topics, products, and companies. People can sign-up to be “followers” of people and companies.
For marketers, Twitter can serve as an effective tool to deliver messages to your target audience as well as a vehicle to engage in a dialogue. As you start to use web 2.0 tools such as Twitter, remember that this is a tool to help build and enhance a relationship. It is not just another way to put out a press release.
Marketers also must follow conversations and trends on Twitter. Odds are someone on Twitter is saying something about your company, your competitors, your services, or products. Marketers must follow the dialogue and also help monitor their company’s on-line reputation.
In business-to-business marketing, there is a misnomer that business buy from businesses. However, it is people in those businesses making decisions, thus people at business buy from people at other businesses. Tools such as Twitter can be effective methods to engage prospective customers and current clients. Twitter, in my opinion, can have even more value in the business-to-business world than in the business-to-consumer world. This is because it allows users to "Tweet" very specific, and some times very technical, messages about their products or services.
Like other social networking tools, Twitter began as a way for people to keep-up with each other. Forrester Research reported that over 7 million people are using Twitter. As a social networking tool, Twitter ranks just behind Facebook and MySpace. But what is significant from a marketer’s perspective, Twitter has quickly gained acceptance as a marketing tool. While this doesn’t seem like cutting edge, it is an easy and effective way for marketers to reach their target audiences and engage their customers. Known as “tweets,” Twitter postings typically are short messages, and conversations, about topics, products, and companies. People can sign-up to be “followers” of people and companies.
For marketers, Twitter can serve as an effective tool to deliver messages to your target audience as well as a vehicle to engage in a dialogue. As you start to use web 2.0 tools such as Twitter, remember that this is a tool to help build and enhance a relationship. It is not just another way to put out a press release.
Marketers also must follow conversations and trends on Twitter. Odds are someone on Twitter is saying something about your company, your competitors, your services, or products. Marketers must follow the dialogue and also help monitor their company’s on-line reputation.
In business-to-business marketing, there is a misnomer that business buy from businesses. However, it is people in those businesses making decisions, thus people at business buy from people at other businesses. Tools such as Twitter can be effective methods to engage prospective customers and current clients. Twitter, in my opinion, can have even more value in the business-to-business world than in the business-to-consumer world. This is because it allows users to "Tweet" very specific, and some times very technical, messages about their products or services.
How are AEC firms using Twitter to deliver messages to their audiences?
- Updates about products and services
- Current projects or application
- Project status updates
- Providing information from events and trade shows
- Announcements
- Technical information
There are numerous opportunities to leverage Twitter to communicate information to your customers and prospects
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