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Has Your Marketing Adjusted for the Current E-commerce Surge?

Pandemic lockdowns across the nation have turbocharged e-commerce, with online sales growing by triple-digits since social distancing went into effect. Many predict a longer-term change in buying habits that will continue after the crisis has passed. The new environment is pushing some AccuList’s clients, especially retailers, to up their online game. Is your marketing ready? Most marketers are not, according to a recent Profitero and Kantar survey of 200 brand executives, which found that only 17% believe their organizations are leading competitors in e-commerce.

E-commerce Marketers Need to Prioritize Key Strategies 

E-commerce marketers need to quickly prioritize key strategies, advises a recent post by Forbes magazine’s CMO Network contributor Sarah Hofstetter. A problem identified by the Profitero and Kantar survey, for example, was that only 11% of organizations have functional-level e-commerce goals in place. Hofstetter urges organizations to make e-commerce a part of everyone’s job, from building e-commerce KPIs into bonuses to accountability for quality content on retailing websites to cross-functional e-commerce goals to overcome internal silos. Next, marketers should recognize that, because online consumers are likely to shift among brands in a time of limited inventory, delay and hyper-competition, they need to boost online profiles and product discovery efforts. That includes targeted SEO and SEM, strong ratings and reviews, engaging targeted content, and aligned multichannel outreach. Third, e-commerce’s new hyper-competition requires a shift from offline to speedier online tactics, such as algorithmic matching of competitor price changes and real-time tailoring of product assortments and promotional strategies by audience. Fourth, organizations can beat competitors by boosting online agility. Note that 63% of brands do not test and optimize their content to improve sales impact (Profitero and Kanta survey), and 61% do not use digital shelf analytics or shopper panel data to test, measure and improve digital execution. So brands that digitally test new products, new traffic-generating variables and new marketing messages can get ahead of the curve.

Messaging and Media Mix Can Adapt to New Realities

Janet Balis, a principal of Ernst & Young LLP, recently penned a Harvard Business Journal article offering broader advice for marketers as they lean into today’s new buyer realities. The nuances of creative messaging and brand voice have become more delicate, she notes, warning that commercially exploitative brands will not fare well. An example of smart messaging comes from Guinness, which shifted its usual St. Patrick’s Day focus from celebrations to longevity and well-being. Plus, organizations that promote doing good, from food bank donations to repurposed manufacturing for PPEs, enhance brand image for the longer term, as long as contributions are perceived as material and not solely for commercial benefit. Next, since the mix of consumer-preferred media platforms has changed during the crisis, marketers may want to modify their media mix, for example with more ad-supported premium video streaming to take advantage of spiking digital entertainment, or advertising around peaking news consumption (broadcast or digital). Finally, marketers will want to put a greater emphasis on behavior trends and response tracking to better adapt messaging and targeting. Closely observing trends on social-media platforms and e-commerce product pages can help more quickly spot opportunities and looming problems.

Even Small Retailers Can Use Google Tools to Boost Agility

Google is the lead search engine for e-commerce players, and it recently offered advice for using its tools to improve results during the pandemic and beyond. Even smaller, less sophisticated retailers can take advantage. For example, the online agility advised by Forbes and Harvard Business Journal articles requires staying informed of market and customer changes. Tools such as Google Trends and Google Alerts help users stay up-to-date on local conditions and customer mindsets, while retail-category metrics for Google Search and Shopping campaigns help spot shifts in product category demand. In the overcrowded e-commerce space, transparency and accuracy also loom large in capturing fickle visitors and buyers, so Google advises not only updating the customer-facing website but also the Buyer Profile on Google Maps and Search, for example to show changes in hours, extra safety precautions, shipping timelines, delivery or pickup options, etc. Finally, online customers now expect companies to rapidly adjust. So, within Google Ads, e-commerce efforts should update campaigns for any product or policy changes, and retailers should also enable automatic item updates in the Google Merchant Center to keep inventory and product data current, especially for price and availability.

Industrial Marketers Bet More on 2018 Direct & Digital

AccuList USA has a long track record of helping warehouse, industrial and back-office product marketers via data brokerage, predictive analytics and multi-channel direct marketing, and we’ve learned some important lessons along the way.

Industrial & Tech Marketing Budgets Expand in 2018

The good news is that many industrial marketers were inspired to expand investment in 2018. According to the “2018 Budget Trends in Industrial & Technology Marketing” report published by engineering.com, industrial marketing budgets in 2018 are expected to hit “the highest levels of growth (45%) and the lowest reported levels of shrinking budgets (4%), of any of the last five years.” More than half (54%) of manufacturing marketers expect their budget to be larger in 2018.

Quality, Targeted Data Is Key to B2B Direct Marketing

But expanded multi-channel spending still needs to be smart spending. As data brokers, we can’t overemphasize that successful B2B direct marketing–including direct mail, print catalogs and e-mail campaigns–starts with quality, targeted data. Marketers can boost response by using predictive analytics and buyer profiles to target–and then opt for the rental lists of active product inquirers/buyers that our proprietary list research finds to be top performers in each vertical. Targeting the right message to decision-makers in the buying process is also key; with product and industry factors affecting whether to select a chief engineer, purchasing manager, warehouse manager, human resources chief, or C-suite executive in mailing lists.

A Digital Strategy Is Now Essential for Leads and Sales

While direct mail continues its response leadership, there’s no denying that most B2B buyers are digital shoppers today. Research by Acquity Group finds 94% of B2B buyers say they conduct some form of online research before purchasing a business product, for example. Forrester Research has found that 59% of B2B buyers prefer not to interact with a sales rep, and 74% find buying from a website more convenient. That makes digital catalog sites into essential sales tools, giving customers the option to browse product, pricing, and inventory information in real-time and then self-serve. Of course, online traffic-building requires a good search engine optimization (SEO) strategy given that 73% of global traffic to B2B companies comes from search engine results. But most successful B2B marketers also invest in paid digital efforts. In fact, a 2015 study by Content Marketing Institute, MarketingProfs, and Fathom found that manufacturers ranked search engine marketing highest among paid marketing options in terms of efficacy (52%) and promoted social media posts came in second (39%).  For social media ads, B2B marketers see video as a top response tactic, which is why manufacturers in the study ranked YouTube as the most effective social media site, followed by LinkedIn ads, which AccuList USA supports. Take a deeper dive into the core elements of digital industrial marketing with this post by gorilla76, a B2B consulting firm.

 

 

 

B2B Sales Trends Boost Mobile-Friendly Online Acquisition

With Forrester Research forecasting steady growth in B2B e-commerce, reaching $1.2 trillion in sales, or 13.1% of all B2B sales, by 2021, smart e-commerce marketing is more essential than ever for AccuList USA’s B2B catalog and e-commerce clients. A recent bigcommerce.com blog post highlighted many important trends for B2B e-commerce, but we’ll focus on three marketing-related takeaways.

Acquisition Is the New Online Focus

The days are gone when B2B online strategy could succeed by putting up a website as a customer service portal, a place for existing account re-orders or a passive catalog display. Online selling is becoming a core part of B2B business and sales strategy, argues bigcommerce.com post author Jillian Hufford, marketing analyst at nChannel, a multi-channel integration provider. B2B marketers should start by profiling customers to better target online and offline promotions to find high-ROI traffic. Note that a robust SEO/SEM strategy, coupled with website search tools, is essential given that 74% of B2B buyers report researching at least part of their work purchases online. Easy, seamless cross-channel ordering is another basic of online customer acquisition now. Plus, an investment in online content marketing, coupled with SEO strategy, can leverage educational and expert content on the website to attract searchers and win Google rank.

Online and Print Catalogs Work in Tandem

Five years ago, more than two-thirds of B2B sellers thought they would stop mailing paper catalogs. That hasn’t happened, but many B2B merchants are using an integrated multi-channel effort to balance smaller or less frequent print catalogs with more interactive online catalogs. For success with print-plus-online, the online catalog cannot merely mimic the print version. E-commerce means investing in interactive online tools that allow customizing, sharing, distributing, ordering and tracking, all supported by integrated back-end technology.

Mobile-Friendly Means Revenue-Friendly

Ever-expanding B2B mobile use is driving big marketing changes. Google and BCG research data from 2017 shows why: 80% of B2B buyers are using mobile at work; 60% of B2B buyers report that mobile played a significant role in a recent purchase; and 60% of B2B buyers expect to continue to increase their mobile usage. B2B retailers who are dragging their feet on mobile-friendly adaptation risk dragging down their own revenues; BCG research found that brands that are “mobile leaders” earn more traffic, more leads and more revenue than “mobile laggards.”

For more B2B e-commerce trends, and examples of real-life company online successes, see Hufford’s attached blog post.