by Fronetics | Oct 26, 2016 | Big Data, Blog, Content Marketing, Data/Analytics, Marketing
Big-data insights can help you segment your email database to better target prospects based on where they are in the buyers’ journey.
Most companies these days are swimming in a sea of big data, the great swaths of information they’ve amassed from sales records, social media connections, website leads and contacts, and online analytics.
At first glance it’s a tangle of information that is hard to organize and even harder to learn anything from. That’s a stumbling block that forward-looking businesses need to overcome. Big data can help breathe new life into one of the most reliable yet shopworn tools of the trade: email campaigns.
Embrace Big Data
A study by the executive head-hunting firm Spencer Stuart surveyed 171 companies regarding big-data usage. Just a little over half of the companies used their big data to help guide email, SEO, and SMS marketing campaigns. That’s a fairly low rate, given the potential leg-up that big data can provide.
Consider what Walmart is doing. The company has big-data information on about 60% of all Americans, with which it micro-targets customers based on their individual interests and habits. It’s a powerful strategy that is spreading quickly to businesses of all sizes.
How can you use big data to freshen up your email campaigns?
Be a Collector, Not a Hoarder
Chances are, you are obtaining a lot of data, especially if you have an active content marketing plan in place. Not all of the data you get is equally important. Your focus should be on data that can lead to an actionable and quick response — for example, are you gathering information on your customers’ buying habits? Do you know who they are, where they are, what their interests are, what their email address is, and how your business connects with them?
Collect that relevant data and study it. Much of it will come from the buyer’s journey — the breadcrumbs that potential buyers leave for you in your big data. These pieces of information are keys to your personalized email responses.
Respond In Kind
Most experts agree that a quick and targeted email response is a good strategy for encouraging a new customer to make a purchase. The email needs to respond directly to the buyer’s interests — using information you’ve (hopefully) logged with your big data.
From this point on, it’s crucial to make sure that every email that is sent to that buyer is built around a backbone of big data. Nurture your customers with personalized emails that offer content and deals that line up with their specific interests.
Don’t Mess with the Masses
Mass emails — the generic sales pitch email — used to be the cost-effective and simple way of reaching and converting customers. Now, it’s more than likely they’ll get sent to the trash, or worse, the spam filter. The mass email is your one-way ticket to spam purgatory.
“Traditional methods of mass marketing doesn’t resonate anymore and they’re being ignored by the audience,” said Volker Hildebrand, Global Vice President of Strategy at SAP Hybris, in a recent interview with Forbes. “Data is the fuel for customer engagement, and being able to pull together all the relevant information about in real-time.”
You can do better than the mass email approach. If you’ve collected relevant data and you’ve studied your buyers’ journeys, you have the tools in place to build a smart email campaign. Tailor your campaign to personalize your approach to your customers, and more than likely they’ll open that email.
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by Fronetics | Oct 4, 2016 | Blog, Content Marketing, Logistics, Marketing, Social Media, Supply Chain
This list of social media articles includes useful information for both people who rarely use social networking sites and for more advanced users.
We’ve been using this space to write about social media a lot lately. That’s partly because so many exciting new developments and enhancements keep popping up. It’s also because we can’t underscore enough how important it is for companies in the supply chain industry to participate in social media.
I thought it would be helpful to revisit some of our recent information, guides, and tips and tricks regarding social media use for B2B marketers. The following list encompasses both general, how-to-type instruction and more detailed advice for more advanced users.
I’ve segmented articles by platform and included a catch-all category at the bottom as well. Don’t see what you’re looking for? Shoot me an email to let me know what social media-related content you’d like to hear about on our blog.
LinkedIn
LinkedIn is the most popular social network for B2B companies. Here’s what you need to know to get started.
Learn about the free and paid methods LinkedIn offers to help you find and recruit new employees.
LinkedIn’s 433+ million member base presents an enormous opportunity for your company to earn new business. Start attracting those members to follow you.
Twitter
One of the top social media sites for B2B marketers, Twitter can help businesses spread brand awareness and communicate with customers.
You may find yourself frequently strapped for quality tweeting material. Here are some ideas to not only fill your feed but to keep your followers interested and engaged.
Leverage insights from Twitter’s analytics dashboard to improve audience engagement, reach, and content development.
We did an experiment to determine the ideal frequency for posting on Twitter. The resulting numbers were abysmal. But that means the experiment worked.
Add stickers to your photos on Twitter to join in on real-time conversations about trending topics and to grow your audience.
Twitter is changing its rules on the 140-character limit for your tweets. Learn what’s going to be different.
Facebook
Facebook Live offers businesses a new, creative platform for engaging customers. This article describes what marketers need to know about it and how to use it.
YouTube
YouTube is a useful engagement tool for B2B marketers who want to reach the social network’s more-than-3-billion users. Learn how to get started in this article.
Get started creating YouTube videos for your business with these easy-to-use tools and ideas for content.
Learn how to improve the reach of your YouTube videos with these strategies for distribution.
Reddit
Reddit is a gold mine for relevant, engaging content to share with your social media followers. Here’s how it works and how you can get started.
Other resources
Fronetics has developed this training specifically for business owners, marketers, and employees looking to learn more about social media and how they can contribute to their company’s success through these networks.
Fronetics has developed a comprehensive report exploring social media use in general and, specifically, within the logistics and supply chain industries.
Businesses are using social media as a strategic tool. This article explains the top three benefits companies in the logistics and supply chain industries can enjoy from participating on social platforms.
Your business should be on social media showing buyers that you know what they want and that your business can provide it.
A cross-departmental social media team can help your company get more out of social networking sites.
Participating in social media is not about earning followers; it’s about building relationships with your current and future customers.
If your social media strategy doesn’t align with your business objectives and target audience, your marketing budget is probably better spent elsewhere.
by Elizabeth Hines | Aug 25, 2016 | Blog, Data/Analytics, Leadership, Strategy
Forget tracking traditional metrics and focus on decision-quality data that helps front-line managers do their jobs.
It’s safe to say that the clients I engage with fall into two categories when it comes to business data: those that are drowning in it, and those that ignore it altogether.
The ones that are drowning in data know all the relevant facts that keep them out of trouble with their boards or their senior executives, but struggle to tell you what really drives their business costs or profits. The ones that ignore the data are the savvy veterans that rely on their historical win/loss records in their business, but ask them to change course or innovate, and they are like fish out of water.
Chances are you’ll fall somewhere close to those two camps, and for some time, I did as well. Then that I realized that tracking data for the sake of “tracking” was a waste of time for me and for my teams.
There is data, however, that should be tracked relentlessly and used in all of your decision processes. I call this “decision-quality” data. These are the numbers that drive your business strategy and execution.
What is decision-quality data?
Decision-quality data goes beyond the traditional profit/loss packages that are churned out every quarter and disseminated to your business chieftains. Decision-quality data sets are the building blocks and the levers of your business. Examples include areas of your business that can be affected by the execution of your employees.
Put simply, your sales employees may not be able to directly affect your finance treasury function, but working together with your finance team, they can affect cash flow by selling credit-worthy customers, cutting better financial deals, and, when necessary, helping in the collection process.
The same can be said of your purchasing professionals teaming with distribution leaders and finance team. This team can coordinate at the front line to cut costs and reduce inventory spend by developing inventory and financial metrics that matter to them and the company overall. By working in concert, they have the ability to solve the problems that arise and avoid pitfalls in real time instead of reacting when the quarterly metrics come out.
Quite frankly, if you are collecting and looking at data, but not taking action as the result of it, STOP. You won’t miss a thing, and your team will thank you for saving them time to spend on more productive activities.
Don’t fall into the data-cycle-trap dictated by data tracked on a calendar basis for the sake of tracking. Ask your teams what data they need to be effective, and simplify the way for them to get it in near real time.
Once this type of data is in the hands of a cross-functional team of front-line managers, task them with the needed improvement, and watch them make dramatic impacts in your overall business performance and customer experience and, in turn, your profits. The results will be better and more sustained than if you drove them with a mandate from the top because these managers live and breathe in the environment that created the data in the first place. Their cross-functional nature and familiarity with the issues are a winning combination.
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by Elizabeth Hines | Aug 16, 2016 | Blog, Data/Analytics, Logistics, Strategy, Supply Chain
Look at your financial metrics on a granular level, beyond the basic snapshot, to identify opportunities for growth.
Big data can show homogeneous revenue opportunities and cost inputs. But that overview is inadequate for determining how different aspects of your business are performing and where opportunity for growth may lie.
Essentially, you need to analyze your financial metrics at a granular level rather than in aggregate. For example, your business probably offers several products or services and feeds off of more than one revenue stream. Each must be evaluated separately in terms of value and profitability to determine how each is performing, rather than just examining your entire portfolio as a whole.
The key to increasing profits is not always blazingly obvious, but rather it is hidden in the minutia. There you will identify what is growing the business and what is not.
How to get down to the granular level of your financial metrics:
Consider your sales figures.
What is your profit — broken down by product, brand, region, etc.? Note any similarities and differences. Can you identify outliers? Can you identify what works and what your barriers are? If not, you must drill down further. For example, if a specific product is successful, why is this so? Is its success the result of a team or an individual? Can this knowledge or skill be applied to other products or services?
Identify products, brands, or services that don’t make financial sense.
You know they exist already. They are the ones that eat up your resources or simply no longer fit well with your brand. It may be time to eliminate ill-fitting clients, products, or services that don’t benefit the company. You then can pour the freed-up resources into higher-profit activities.
Know what the critical numbers are.
What is important to your business can be very specific to your industry. Inc. magazine’s guide to tracking critical numbers offers a great example: “A software consultant may focus on billable time, for instance, while a food retailer should be looking at sales per labor hour.”
Repeat this review process often.
This is not a one-time exercise. Typically, financials should be reviewed monthly, but each business will vary. Things that ebb and flow, like inventory or manufacturing output, should be reviewed each day, and the sales pipeline should be examined once per week.
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by Fronetics | Aug 15, 2016 | Blog, Content Marketing, Marketing, Social Media, Strategy
If your social media strategy doesn’t align with your business objectives and target audience, your marketing budget is probably better spent elsewhere.
Almost half of CMOs report they do not feel prepared to manage the challenges that accompany the rise of social media. Regardless marketers report that they plan to double social media spending in the next five years.
Pouring money into increasingly complex and expansive social marketing campaigns will not guarantee success, however. Instead, Keith Quesenberry, author of Social Media Strategy: Marketing and Advertising in the Consumer Revolution, suggests that marketers need to boil their social strategies down to the basics to improve results.
“They must use fundamental marketing concepts and modify them for this new two-way, consumer-empowered medium of social media,” says Quesenberry in a Harvard Business Review article. He offers these four steps for developing a basic social strategy.
1) Identify your business objectives.
Any strategy your business adopts should carefully align with your goals. Are you hoping to grow brand awareness? Generate more leads? Rebrand your business? Your social strategy should serve those objectives.
2) Listen to your target audience.
Yyou should have a thorough understanding of who your target audience is and how they use social media. After all, millennials use different platforms at different times than, say, Fortune 500 CEOs. Quesenberry suggests using analytics tools within social networks and secondary research, such as the Pew Research Internet Project, Nielsen, or Edison Research, to identify larger trends in social media use.
3) Produce engaging content.
Create the kinds of content your target audience seeks, and distribute it through the platforms on which they seek it. How-to videos on YouTube? Thought leadership on LinkedIn? Optimize the material you distribute for each channel. Use the social channels that best suit your brand message, type of content, and target audience.
4) Link marketing goals to social media KPIs.
Measure key performance indicators such as social media click-throughs to purchase (if the goal is online sales), social impressions (for brand awareness), or number of campaign-specific forms completed (for lead generation).
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