Business Marketing communication Flashcards
Describe the article
Wang, W., Malthouse, E. C., Calder, B. and Uzunoglu, E. (2019). B2B content marketing for professional services: In-person versus digital contacts. Industrial Marketing Management. Vol. 81, pp. 160-168.
The article examines the effectiveness of in-person versus digital B2B content marketing for professional services.
The authors conducted a survey of 311 executives from professional service firms in the United States. The survey asked about the frequency and effectiveness of various B2B content marketing tactics, including in-person events, digital content marketing, and social media marketing.
The authors found that in-person events were the most effective B2B content marketing tactic for professional services. Specifically, executives reported that in-person events were the most effective tactic for generating leads, building relationships with clients, and closing deals.
However, the authors note that digital content marketing and social media marketing are still important tactics for professional service firms, especially in terms of generating brand awareness and establishing thought leadership.
Overall, the authors conclude that a mix of in-person and digital B2B content marketing is likely the most effective approach for professional service firms. In-person events are particularly effective for building relationships and closing deals, while digital content marketing and social media marketing are important for generating brand awareness and establishing thought leadership.
Trade shows (Messer)
- Effective selling message can be delivered to a
relatively large and targeted audience at one time - Firm can identify potential customers and provide
sales personnel with qualified leads – many sales are
also made at trade shows - Trade shows can be used to introduce new products
- Customers can get hands-on experience with product
in one-on-one selling situation - Trade shows allow competitors to look at each other
- International business can be facilitated resulting in
quicker entry into foreign markets
Digital VS in-person content
Much higher perceived costs, when engaging in personal/relational activities.
Digital VS in-person events
Digital advantages:
- The online/digital set-up is easier
- Cheaper to hold the trade show/fair trades
online/digital
- You get a much higher value for the digital events
due to the fact that it’s cheaper.
In-person advantages:
- More effective in creating relationships
- Easier to close the deals in-person
The result in the picture shows that people with high job titles prefer online/digital events, as their engagement with content marketing (CM) is higher.
Content marketing definition
Definition: Creating, distributing and sharing relevant, compelling and timely content to engage customers at the appropriate point in the buying consideration processes
(Holliman & Rowley, 2014, in Wang et al., 2019 and Järvinen & Taiminen, 2016)
Describe the article
Järvinen, J. and Taiminen, H. (2016). Harnessing marketing automation for B2B content marketing. Industrial Marketing Management, Vol. 54, pp. 164-175.
The article by Järvinen and Taiminen (2016) discusses the use of marketing automation for B2B content marketing. The authors explain that marketing automation involves using software to automate marketing processes such as email campaigns, social media posts, and lead generation. They argue that B2B companies can benefit from marketing automation by improving the efficiency and effectiveness of their content marketing efforts.
The article provides an overview of the key features of marketing automation software, including lead scoring, lead nurturing, and analytics. The authors explain that lead scoring is the process of assigning a score to leads based on their behavior and demographics. This allows marketers to focus their efforts on leads that are most likely to convert into customers. Lead nurturing involves providing targeted content to leads based on their interests and behaviors. This helps to build relationships with leads and move them closer to a purchase decision.
The article also discusses the importance of content in B2B marketing and how marketing automation can help to deliver targeted content to the right people at the right time. The authors provide examples of how B2B companies can use marketing automation to deliver content such as whitepapers, case studies, and webinars to their target audience.
Finally, the authors discuss the challenges and limitations of marketing automation for B2B content marketing. They note that while marketing automation can be a powerful tool, it requires careful planning and execution to be effective. In addition, the authors caution that marketing automation should not be seen as a replacement for human interaction in B2B marketing.
Content is king
Different types of value:
- Hedonic
- Epistemic
- Functional
- Economic
- Learning
More value -> More engagement -> More trust -> More purchases
Inbound marketing - The new black
Traditional (outbound) marketing:
- Interruptive
- Marketer-centric (look good)
- Focus on finding customers
- Static buying behavior
- Create awareness
- Pusched to the customer
Inbound marketing:
- Make information available
- Customer-centric (Help and needs)
- Focus on empowering customers
- Evolving buying behavior
- Create a need
- Focus by the customer
Inbound marketing - How to?
Inbound marketing makes it possible to attract customers through relevant and helpful content and by adding value to every stage of your customer’s buying journey.
Tools that can be useful:
- FAQ, blogs, videos, animations
- Podcasts, webinars
- Handbooks, white papers
- Tools and guides
Helpful content = clear, correct, and trustworthy
This can attract more qualified leads, create new customers and build op trust and credibility.
Marketing Automation
Lead scoring and lead nurturing set by specific rules
Automatically personalizing viewed content, dependent on the phase of the customer journey
- Suspects (all potential buyers we are aware of)
- Prospects (suspects meeting the predefined criteria)
- Leads (prospects offering high probability of
profitable sales)
- Opportunities (warmest leads contacted by sales)
- Customers/deals (won opportunities)
The Funnel
Stage 1: Identified contacts
- Suspects who are identified through contact info,
login, cookies or IP address
o -> Classification into marketing or sales
leads
Stage 2: Marketing leads
- Identified contacts who meet the predefined
criteria (i.e. prospects) but have not made a sales
inquiry
o -> Nurturing programs and lead scoring
Stage 3: Sales leads
- Marketing leads who are ready to be contracted
based on lead scoring or direct sales inquiry
o -> Transferred to the sales queues for
contacting
Stage 4: Opportunities
- Contacted sales leads
o -> Sales negotiations
Stage 5: Deals
- Leads who make a purchase
o -> Product and service delivery
Implications
- Move from advertising to helping
- B2B employees are often experts
- Segmentation becomes more sophisticated with
increased workflows and adaption - Collaborative sales and marketing departments are
required - Trial and error is the way forward
- Manually recording info into the CRM system
- Develop an effective and meaningful lead scoring,
often by guessing
Describe the article
Taiminen, K. and Ranaweera, C. (2019). Fostering brand engagement and valueladen trusted B2B relationships through digital content marketing. European Journal of Marketing, Vol. 53(9), pp. 1759-1781.
The article explores how B2B firms can use digital content marketing to build brand engagement and foster trusted relationships with their customers. The authors argue that creating valuable and engaging content is key to building trust with B2B customers, which is essential for establishing long-term, profitable relationships.
The authors suggest that B2B firms can use a range of digital content formats, including blog posts, videos, webinars, and social media posts, to engage with customers and provide them with useful and relevant information. They also highlight the importance of understanding the needs and interests of different customer segments, and tailoring content accordingly.
To maximize the impact of their digital content marketing efforts, the authors recommend that B2B firms focus on building relationships rather than simply promoting their products or services. This involves fostering a sense of community among customers and creating opportunities for interaction and feedback.
Finally, the authors emphasize the need for B2B firms to measure the effectiveness of their digital content marketing strategies and adjust them as necessary. This requires setting clear goals and metrics, such as website traffic, engagement rates, and lead generation, and regularly analyzing and optimizing content based on these metrics.
B2B Brand Engagement
The link between brand attitudes and relational orientation
- Cognitive-emotional brand engagement: Thinking
about, interested, positive feeling, emotions
- Behavioural engagement: Reading, commenting,
participating, sharing
- Helpfulness: Functionally oriented digital content
(knowledgeable and benevolent)
o Knowledge sharing for problem solving
o Interpret industry trends and market
development (journalism)
Describe the article
Barry, J. M. and Gironda, J. T. (2019). Operationalizing thought leadership for online B2B marketing. Industrial Marketing Management, Vol. 81, pp. 138-159.
The article explores the concept of thought leadership and its potential application in B2B marketing, specifically in online contexts. Here are some of the main points covered in the article:
Thought leadership is a marketing approach that involves creating and sharing valuable, insightful content that positions a company or individual as an authority in their industry.
The article argues that thought leadership can be an effective strategy for B2B companies, especially in online contexts where there is a lot of competition for attention and credibility.
To operationalize thought leadership, the authors suggest a framework that includes four key elements: (1) a clear understanding of the target audience and their needs, (2) the creation of high-quality content that addresses those needs and provides insights or solutions, (3) the strategic distribution and promotion of that content through various online channels, and (4) the measurement and analysis of the impact of the content on key performance indicators (KPIs) such as website traffic, lead generation, and sales.
The article provides several examples of companies that have successfully implemented thought leadership strategies in their B2B marketing, including IBM, GE, and Salesforce.
The authors also discuss some of the challenges and risks associated with thought leadership, such as the need for consistent and sustained effort, the potential for over-promising or under-delivering on content, and the risk of diluting the brand by creating content that is too generic or not relevant to the target audience.
Thought Leadership
B2B marketers are becoming publishers of content, not communication
- However, nothing new. Since 1887.
Recognized as: trusted authority
- Trust in shaping favoured solutions
o Authority of expertise
- Able to shape other’s point of view
Recognized for: thought leadership competency
- New ideas
- Ability to lead
- New mindsets
- Enlightens and inspired audience
Social capital for content resonance
Not only problem solving (helpful content)
Communities ascribe authority by disseminating content (engagement behavior)
Social capital comes from:
- Network size and interactivity
Social capital (goodwill used for spreading content, content resonance)
- Bonding: emotionally close personal connections
- Bridging: Weak ties between community
followers,
sharing information
- Goal: To move content through an engaged
online network
Results and how to
Results on the picture
How to?
Start with trustworthy content -> Benevolence and problem solving
More insightful content about navigating in turbulent markets and ground-breaking business ideas -> Build credibility
Share and engage generously -> Validate expertise
Foresee new market trends -> Better positioned pre-RFP (request for proposal)
