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A look at the trends that B2B marketing and sales people need to adopt to survive the blistering pace of change occurring among their customers
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Marketing
TRENDS
For MANUFACTURING
Sales
Quarterly ClubJanuary xx, 2014
“The only thing that is constant is change.”
-- Heraclitus
GMFord
Wal-MartExxon
GEIBM
CitigroupAltria Group
BoeingAT&T
Bank of America
State FarmMobil
Hewlett-PackardSears
RoebuckDuPont
P>IAA-CREFFMerrill Lynch
Borden ChemicalLockheed
MartinAlcoa
International PaperWilsonSunocoUnited
TechnologiesAmerican Can
General Dynamics
General MillsNational
IntergroupCurtis-Wright
OlinAsarco
79
The blistering change of pace has reeked havoc on businesses ability to stay on top
1955 1999AT&T Shell Oil
NavistarRockwell
Eastman KodakGoodrich
Continental GroupBendixAtlantic Richfield
Fortune BrandsRyerson Tull
ArmcoHoneywell Intl
AmaxAllis-Chalmers
Jones & Laughlin Steel
RCAUnion CarbideGeneral Foods
Uniroyal
52%GM
ExxonFirestoneDouglas
P&GRepublic
SteelCitgo
ConocoPhillips
onU.S. SteelGeneral ElectricEsmark
ChryslerArmourGulf OilMobil
DuPontAmoco
Bethlehem SteelCBS
SafewayCostco
ConAgraJohnson & Johnson
BellsouthWalt Disney
PepsiCoIngram Micro
WachoviaCigna
McKessonLoews
SafewayCostco
ConAgraJohnson & Johnson
Bellsouth
TargetJC Penney
Home DepotLucent
MotorolaSBC
KrogerMerck
ChevronTexaco
Met LifeIntel
Lockheed MartinAllstateUnited
TechnologiesBank One
GTEUPS
Marathon Oil
Welcome to the age of “Digital Darwinism”
Brian Solis
Author of:What’s the
Future of Business?
The End of Business as
Usual
Rewire the Way You Work to
Succeed in the Consumer Revolution
Engage: The Complete Guide
for Brands and Businesses to
Build, Cultivate, and Measure
Success in the New Web
Source: Brian Solis, The End of Business as Usual
How fast is information moving? AT&T’s answer
The speed of high risk information…
2003 = 24 hrs.
2009 = 4 hrs.
2013 = 4 mins.
+ Longer sales cycle times
+ Lower conversion rates
+ Less reliable forecasts
+ Compressed margins
Source: Corporate Executive Board survey of 2,500 sales professionals; 30 B2B companies from every major industry, geography and go-to market model
The Traditional Sales Model is BrokenSales performance growing increasingly erratic
We must find ways to create value
“Today’s customers are better informed than ever before. By the time they approach suppliers, they generally have a clear idea of the problem they need to solve, the solutions that are available, and the price they are willing to pay.”
“Dismantling the Sales Machine”Harvard Business
Review, November 2013
The adoption of of digital marketing is absolutely critical to survival
“Industrial companies are starting to catch up to consumer brands in their use of social media marketing, using LinkedIn, Facebook and even YouTube to reach buyers for decidedly unsexy products such as electrical components, industrial lubricants, generators and contract manufacturing.”
-- Wall Street JournalJanuary 5, 2013
The adoption of social/digital by B2B manufacturers
68%
Social channels drive new business conversion
Etratech: electronic design and manufacturing firm
+President and board set aggressive sales goals for 2012
+Advertising too expensive and rarely worked
+Reluctantly embraced social media
Etratech used social channels break through competitive clutter
Etratech invites its website visitors to tour their plant. This link is almost always clicked by prospective new customers…
Etratech Social Business Results:
Closing deals:Before: 6-8 months
Now: 6-8 weeks
Growth targets have increased, sell times are faster and customer comments have proven social business channels are an important part of marketing Etratech’s manufacturing business.
Jan FebMar
AprMay
Jun
JulAug
JanFeb
Other factors: How about your customers?
Social Business Audit of P-K Tool Customers
We audited the 9 biggest customers:
+100% actively use LinkedIn+Posting:
• Major concepts• New projects, capabilities• Team/Industry events and
participation
+Looking for talent+73,323 employees linked to
customers+One customer: all 42 buyers bios
and contact info listed
Social Business Audit of P-K Tool Customers
We audited the 9 biggest customers:
+7 of 9 are on Facebook+Posting:
• News about management• Achievements• Average posting: 2X per week
+Facebook popular to linkemployees working multiple sites
+Helps establish companies values, personalities with customers
Social Business Audit of P-K Tool Customers
We audited the 9 biggest customers:
+4 of 9 are on Twitter+Posting:
• Articles• Industry news (not just about
their company)• Financials (for pubic entities)• Trade events they are attendig
Social Business Audit of P-K Tool Customers
Your customers are using Social Media because:
• Differentiates their company in the marketplace
• Builds their brands
• Helps them get closer to their customers
• Helps close business deals faster
Business Value vs. Personal Value
Study: “Business Value does not lead to purchase”
Supplier Centric
Business Value
Personal Value
The Corporate Executive Board is the leading member-based advisory board. They identify and build upon the proven best practices of the world’s best companies.
Study: “Business Value does not lead to purchase”
Supplier Centric
Business Value
Personal Value
Personal Value focuses on the benefits to the individual customer stakeholder:
• Professional goals
• Social interactions
• Emotional drivers
How do you separate your business from the crowd?
+ Start embrace or expanding your use of social channels
+ Share information that you have that your customer does not
+ Content: new processes, technology, systems and your talent
+ Link to your customer buyers on their social channels
How do you get started?
+Hire smart kids right out
of college
+Bring in a couple college interns this summer
+Reach out to local college professors, they will connect your challenge to the right student talent
50% of recent college graduates are working in fields that do not require a degree. Steal them away and let them do what they love: digital marketing
Marketing
TRENDS
For MANUFACTURING
Sales
Quarterly ClubJanuary xx, 2014