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The Importance of Customer Service in Marketing to Small Firms

1 Apr

Just like their larger counterparts, small business owners expect their channel partners (especially the manufacturers and suppliers with which they interact) to provide superior customer service. They do not want to be neglected or overlooked.

According to a February 2014 study by Cargo and Toluna (as reported by eMarketer): “Nearly half (47.3%) of small business owners (SBOs) said that poor customer service was the most common mistake brands made. Marketers must make an effort to relate to SBOs: Talking at SBOs (instead of with them), as well as failing to understand their businesses, were also big no-nos, cited by 44.7% and 40.7%, respectively.”

Click the chart to learn more.

 

results from a February 2014 study by Cargo and Toluna suggest that marketers should pay attention to their customer service if they’re looking to benefit from such growth.

Nearly half (47.3%) of SBOs said that poor customer service was the most common mistake brands made. Marketers must also make an effort to relate to SBOs: Talking at SBOs (instead of with them), as well as failing to understand their businesses, were also big no-nos, cited by 44.7% and 40.7%, respectively.
Read more at http://www.emarketer.com/Article/Small-Business-Owners-Wonrsquot-Put-Up-with-Poor-Customer-Service/1010723#CmyPSFEfXZZFMPuo.99

results from a February 2014 study by Cargo and Toluna suggest that marketers should pay attention to their customer service if they’re looking to benefit from such growth.

Nearly half (47.3%) of SBOs said that poor customer service was the most common mistake brands made. Marketers must also make an effort to relate to SBOs: Talking at SBOs (instead of with them), as well as failing to understand their businesses, were also big no-nos, cited by 44.7% and 40.7%, respectively.
Read more at http://www.emarketer.com/Article/Small-Business-Owners-Wonrsquot-Put-Up-with-Poor-Customer-Service/1010723#CmyPSFEfXZZFMPuo.99

 

 

Better Marketing to B2B Customers

19 Feb

We spend so much time on business-to-consumer marketing, that we sometimes underappreciate the importance of business-to-business marketing. The best companies do understand the role of B2B marketing.

As Jen Agustin reports for Bizo: “Marketers are realizing that branding is a strategy not just for the Coca-Cola’s and Nike’s of the B2C world. Branding does indeed matter in the B2B buying process. Because prospects are waiting longer before engaging with salespeople, marketers need to use branding to get their companies, products, and services out there as early as possible in order to earn a spot on the evaluation shortlist later on. This means getting in front of the right people before they even realize they have a business challenge to solve.”

Consider the following infographic.

It’s Time for Smart Chip Technology on U.S. Credit Cards

21 Jan

As we recently posted, data security — and the lack thereof — is a huge problem that needs to be fixed for both retailers’ and shoppers’ protection. First, let’s look at some more statistics. Then, let’s consider the best solution.

According to a Ponemon Institute study, as reported by the Wall Street Journal, security breaches have skyrocketed at North American American retailers.

What’s the best solution, keeping in mind that nothing is foolproof?

Harvey Bronfman, an entrepreneur and angel investor, puts it this way: “Why hasn’t the U.S. made the credit-card techno-leap? … it is all about who bears the multi-billion-dollar tab. Until now, cost-benefit analyses by banks and large retailers have concluded that eating the cost of data theft is cheaper than changing over to a more secure system, according to industry analysts. That is perhaps the biggest reason the world’s largest consumer market is so far behind the eight ball on purchasing technology.”

Paul Ziobro and Robin Sidel, writing for the Wall Street Journal, state that:

“Target Chief Executive Gregg Steinhafel is calling on retailers and banks to adopt chip-based credit-card technology to better protect shoppers. But the debate was different a decade ago, when the executive was on the other side of the issue as Target pulled the plug on a $40 million, three-year program that did just that.”

“Chip-based credit cards — in which a smart chip in the card works with special readers installed at stores — are widely used in Europe and Canada, making it more difficult for thieves to profit from the sort of massive data breach that hit Target over the holidays. But the technology has yet to be embraced in the U.S., and as a result, the U.S. has become the preferred target for criminal hackers.”

Click on the image below and then scroll down the WSJ page to see a video clip on this story.

Photo by Getty Images

 

Better Understanding China

17 Jan

As the Chinese marketplace becomes more and more important for foreign companies and countries, the knowledge base about China has also exploded.

One comprehensive site is from McKinsey & Company, “Greater China.” This site includes tabs on Careers, Insights, Blogs, and Podcasts.

Currently, Mckinsey is featuring a special issue of its quarterly magazine: “China’s Next Chapter.” Click the image to access this issue.

 

A Career Video Interview with J.D. Power’s Founder

15 Jan

These days, we’re pretty familiar with J.D. Power, the global marketing information services company founded in 1968.  As the firm notes at its Web site: “J.D. Power has been listening to consumers and business customers; analyzing their opinions and perceptions; and refining research techniques and study methodologies to offer some of the most advanced product quality, customer satisfaction, and tracking research available today. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. J.D. Power is a business unit of McGraw Hill Financial. J.D. Power conducts work for a wide spectrum of industries including automotive, financial services, insurance, energy, telecommunications, travel and leisure, and healthcare to name a few.”

Recently, Wharton professor of management John Paul MacDuffie sat down for an interview with the company founder J.D. Power III. They discussed Power’s long and distinguished career.

Take a look at the interview. There are lots of insights here.
 

 

Evans on Marketing’s Most Popular Post

3 Nov

Evans on Marketing:

This is the most popular post since Evans on Marketing started!!!!

Originally posted on Evans on Marketing:

Recently, a book titled The Greatest Business Decisions of All Time was published. This book is by Verne Harnish (CEO ofGazelles) and the editors ofFortune.

As Fortune’s Brian Dumaine says: “Once in a great while a leader makes a truly game-changing decision that shifts not only the strategy of a single company but how everyone does business as well. These big decisions are counter-intuitive — they go against the conventional wisdom. In hindsight, taking a different direction may seem easy, but these bet-the-company moves involve drama, doubt, and high tension. What made Apple’s board bring back Steve Jobs to the company? What motivated Henry Ford to double the wages of his autoworkers, and how did that change the American economy for the next century? Why did Intel decide to spend millions to brand a microchip? The following stories, adapted from the new book The Greatest Business…

View original 43 more words

Justin Timberlake and B2B Marketing? Really!

3 Nov

Justin Timberlake is a very smart and very savvy entertainer, entrepreneur,  and social media phenomenon. Just check out his Web site.

Nonetheless, the recent Timberlake story in Forbes by Steve Olenski (“What Justin Timberlake Can Teach B2B Marketers”) only adds to the Timberlake mystique.

Here are excerpts from Olinski’s interview with  Anthony Kennada, the head of marketing at Gainsight, a customer success management platform provider:

“Olenski: How would you say Justin set new rules for B2B marketing?”

“Kennada: Justin and his team have executed a new marketing playbook that has changed the way brands are developed and products are released in the connected and digital age. (1) Progressive leaking of new content. (2) Leveraging partners for launch programs. (3) Taking the message on the road early.”

“Olenski: What did he do specifically that B2B marketers can learn from and apply?”

“Kennada: There’s a lesson here for B2B marketers who are looking to launch new products or services in a big way. (1) Drive feature ‘micro-launches’ prior to full product announcement. (2) Make partner marketing core to each launch. (3) Think beyond Silicon Valley.”

Click the image to read more about the points raised in the Forbes interview.

Photo from Wikipedia

 

B2B: Marketing to Marketers

29 Oct

As marketers, we have some idea of what works when marketing to our customers. But what about when B2B firms market to marketers?

Here’s an interesting infographic from LeadJen.

 

 

What’s Ahead for Business-to-Business Online Marketing?

6 Oct

What will business-to-business firms be doing in 2014 with regard to online marketing?

In the infographic shown below, “CMI and MarketingProfs report that 93 percent of B2B organizations rely on content marketing for brand building and demand generation. Most importantly, B2B marketers are getting better at content marketing; in fact, 42 percent of respondents indicated that they are more effective at content marketing in 2013, compared with 36 percent in 2012.”

Click the infographic for a larger image.

by km4c. Explore more infographics like this one on the web’s
largest information design community - Visually.

 

An Infographic About Business Startups

5 Oct

The Wall Street Journal recently published a story related to innovation and small business: “You Have a Great Idea. Now What Do You Do?”

Take a look at this Wall Street Journal infographic. 
 
http://si.wsj.net/public/resources/images/SM-AA796_IDEAch_G_20130926120305.jpg

 

Now, click on the image below to access a very interesting audio clip.

 

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