Foundry-Metalcaster UGLY Marketing Newsletter 365501 | Page 5

Each month we explore another aspect of The Marketing Choreography System and how it applies to your business. Marketing Choreography™ Series- B2B vs B2C Is B2B (business to business) marketing completely different from B2C (business to consumer) marketing strategies? This is a question I get all the time. Many entrepreneurs/CEOs in the B2B field think marketing is all about hype, exaggeration , and goofy commercials. About radio ads, TV spots and other ideas that may suit B2C but not B2B. They are right to have a small hesitation. But the issue is not a difference between B2B and B2C, but between effective strategies and ‘look pretty’ results. B2B marketing is EXACTLY the same as B2C IN THEORY. Now, before you get upset or scared, hear me out. It is the same because it’s purpose is to persuade a select group of interested and capable buyers to use your foundry instead of others. Believe it or not, that is supposed to be the result of every marketing effort you see in any media- to get interested and capable buyers to make a decision to act. The problem is most marketing is a complete failure and total waste of money. So the Consumer niche has go ne ‘cute’ with dumb ads that do not accomplish anything. They do not persuade, ask for no action, and are not targeted at a specific group of able buyers. buyers at YOUR price, and any marketing campaign will be a failure. The other point is that no marketing campaign should ever be concluded without measuring it’s success using concrete numbers. Do you know how to do that? You use ROI in every other area, it can be used here, too. (If you are a Marketing Director, you can easily justify your work using an ROI model that specifically accounts for the effort you make. Don’t be frightened, it’s easier than you think…) Super Bowl commercials are great for some businesses, but not foundries. These are created by ad agencies intent on ‘branding’. How well does branding work? Here’s a simple test: Of all the ads you watched, name each of the sponsors. Hmm, can’t name very many if any, can you? Secondly, how many times did you buy the product based on the ad? I already know- ZERO. So for all their millions of dollars, they wasted it on you. But that doesn’t mean all marketing is a waste of money. Good B2B efforts include a strong message, to the right market, using the optimal medium. Get any of these wrong and you’ll waste money. Get them right and you’ll grow your client list and improve your Client Lifetime Value (CLV) and profits. B2B uses different tools, but the concepts are the same. Specializing in the Foundry/Metalcasting area allows me to concentrate on the tools that work. Many of the consumer websites have tools that can be directly applied in this industry. Being able to take a proven system from one type of business to another allows me to screen out the bad and keep the good. You benefit from that. This is not some incredible gift I invented. Did you know the first drive-up window was for a bank in 1930? Everyone seems to think it was invented by McDonalds®. In reality, the founder of Mickey D’s saw the bank and thought it could be applied to his restaurants. While others poo-poo’d this concept, there is now a drive up at every hamburger joint in the world. But who would have thought a bank would ever be an inspiration for a restaurant? The key to marketing in the B2B arena is the same as any GOOD marketing. You must understand your potential client (not customer), you must know who is able to be your client, and how to find them. This is the same no matter what you market. Fail to find those who can use your product, or fail to qualify them as able The message, market, and media can apply to each of your primary business areas- People, Processes, Presentation, and Product. Many foundries only consider their product important and ignore the others- and their bottom line shows it. Like any business, you have the choice of sitting and hoping clients find you, or actively and persuasively gaining the trust and confidence of new clients so that they stick like insects to flypaper and become rabidly loyal fans of your business. The second group will not just survive, they will thrive and grow. Make your choice wisely. If you are an engineer by training and marketing is a misty cloud that makes you uncomfortable, send an email to [email protected] and she will schedule a completely free, no obligation 30 minute consultation with you to clear up your questions. © The UGLY Marketing Newsletter for Foundries/Metal Casters/TheFoundryMarketer 2014. All rights reserved 5