by Fronetics | Apr 12, 2016 | Blog, Content Marketing, Marketing, Strategy
Content drives business growth, builds customer loyalty, and helps nurture leads.
One of the best ways to market your business today is to plant the seeds that will generate new customers tomorrow. Enter, content marketing: a long-term solution that helps businesses build brand awareness, grow their audience, and generate new leads and sales.
Most companies, more than 85% of them, realize that content marketing is a vital component to cultivating growth. But, according to the Content Marketing Institute, less than half of those who use it believe they do it well.
It may be particularly difficult for smaller businesses to justify allocating precious time and resources to a strategy that they are not sure is being executed properly. How can they compete against industry giants that have name recognition and massive budgets working for them already?
Medium-sized to smaller companies need to establish a relationship with their potential customers or clients and drive brand awareness, accomplishing this goal with far less resources. And content is the way a company makes that all-important connection.
With quality content, you become a source of knowledge and advice. Most importantly, it reaches potential customers where they most often look for new information: online. Whether a blog, white paper, webinar, video, or social post, you are creating brand awareness and building trust by distributing content. Establishing your company as a reliable source of knowledge is what makes a customer eventually choose to do business with you.
Content Works Overtime
Through your content strategies, you have an endless opportunity to provide potential customers with information about your business, your services, products, tips, or simply advice. The best part is as long as it is good, quality content, on topics that speak to potential customers’ needs and questions, it will continue to generate sales leads.
According to the Harvard Business Review article on the subject, “In both B2B and B2C businesses, customers are doing their own research both online and with their colleagues and friends. Prospects are walking themselves through the funnel (where they gain knowledge for buying decisions), then walking in the door ready to buy.”
Coined by McKinsey, the metaphor of a “funnel” describes where consumers start with a number of potential brands in mind then methodically narrow down their choices. At the end, they emerge with the one brand they chose to purchase from. With social media and digital marketing, content is now a huge factor in the “customer decision journey”.
Will Content Work for Me?
A successful content marketing allows your business to reach more and more potential new customers each week. However, there are some requirements for content to properly do its job.
- Content needs to be consistent (frequent, fresh posts)
- Content must be engaging (taps into what people really want/need to know)
- Content must be good quality (entertains and informs: potential customers should learn something from it and walk away feeling that your company knows what it is talking about)
According to Inc. magazine, it is best to take a holistic approach to your content marketing plan. First you must write down your strategy and be able to tie your overall business goals and objectives into your content calendar.
This is your path and serves as an ongoing content guide. Statistically, only 11% of companies without a documented content marketing strategy find their efforts to be successful, versus 60% of companies with a strategy in place. Designate someone to lead your strategy, and success rises to 86%. In fact, according to a survey by the Content Marketing Institute, the majority of the most effective B2B marketers (86%) have a designated person overseeing their content marketing strategy; versus the 46% of less-effective marketers who do not.
Also remember, content marketing’s main objective is lead nurturing, not producing instant results. You will slowly develop a loyal following of readers and content consumers who continue to return to you for knowledge and, ultimately, your product or services.
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by Fronetics | Apr 7, 2016 | Blog, Leadership, Logistics, Strategy, Supply Chain
As part of our series on trailblazing women in the supply chain industry, I interviewed Barbara Jorgensen, co-founder and managing editor, Electronics Purchasing Strategies (EPS). Jorgensen has more than 20 years’ experience as a journalist, working for leading electronics industry publications such as Electronic Business, Electronic Buyers’ News, and EDN.
As a freelance writer, Barb wrote and managed an award-winning custom publication for Sager Electronics; was a leading contributor to Avnet Global Perspectives magazine; was a regular columnist for the National Electronics Distributors Association monthly newsletter; and wrote for industry associations such as IPC. Barb was also a featured blogger on the B2B Website Allbusiness.com and helped launch Electronics Sourcing North America, a start-up magazine serving purchasing professionals in the Americas.
Prior to her freelance career, Jorgensen was a senior editor at Electronic Business, the pre-eminent management magazine for the electronics industry, featuring world-class manufacturing companies such as Dell, Hewlett-Packard, Cisco and Flextronics International. Before joining EB for the second time, Barb spent six years with Electronic Buyers’ News as managing editor, distribution, winning several awards for coverage of the distribution beat. A graduate of the University of Binghamton, Barb began her journalism career with the Gannett newspaper chain. She has worked for a number of local newspapers in the Greater Boston area and trade journal publishers Reed Business Information and UBM.
How long have you worked in the supply chain industry?
I’d measure my specific supply chain experience with the publication of my first feature on electronics distribution in 1989. After copy editing for a leading electronics industry magazine for a couple of years the editors suggested I use my journalism experience to do some writing. I profiled Marshall Industries, a top-tier distributor at that time, and its founder, Gordon Marshall, who passed away last year.
How did you choose (or end up) working within the industry?
In high school and college, I specialized in journalism and had been writing features and covering town government for a Boston-area daily newspaper. The schedule was grueling, so I applied for work at a trade magazine publisher. This eventually led to being assigned the electronics distribution beat. I made it my goal to understand the business inside and out, and that expertise helped establish my credentials in the industry.
Two of the leading distributors now generate revenue in excess of $20 billion per year; I was calling on them before they reached their first $1 billion.
Although I never expected to become an expert in the electronics supply chain, the growth of the industry and my expertise has enabled a solid career path.
Let’s talk about EPS. How did EPS come about?
Electronics Purchasing Strategies – soon to be called EPSNews – was driven by several external events taking place in trade publishing. A few years prior to EPS, which started publishing online in 2013, the last purchasing publication in the industry closed its doors. Trade publishers were also laying off editors as they moved more content online. My two colleagues and I – Gina Roos and Bolaji Ojo – found ourselves unemployed all at the same time.
Given the under-representation of purchasing in the trade media, we decided to come together and start an online publication. Our reputation in the electronics industry helped us secure our first advertisers. We have been fortunate enough to support the publication primarily through advertising and newsletters since.
Where is EPS today?
While we were assessing our business model after three years we discovered we weren’t keeping pace with some of the dynamics of online publishing. Although our content has always been well received we weren’t getting as much ‘bang for the buck’ as we should have vis-a-vis SEO because of the way we developed our site. Although our content won’t change—we are focused on deep analysis of the entire supply chain from design through recycling – emphasizing the news aspect of our coverage will attract a wider audience and result in better organic growth.
Revenue-wise we have grown every year since our inception; 2015 was our best year so far, growing in the mid-double-digits.
What goals do you have for the company?
We’d like to expand. Our audience has largely been based in the U.S. because that is the market we know best, but clearly electronics procurement in the Far East continues to expand. The electronics markets in Europe remains steady and, let’s face it, the supply chain is global. So EPSNews would like to devote resources toward building an audience in the EU, the Far East, and relevant geographies in between.
Have you seen a change in the number of women entering the industry and/or contributing to the industry?
Absolutely. When I began my writing career in the tech industry there were fewer women in trade publishing – most of the women I networked with then were in marketing and PR. But that changed pretty rapidly at least on the media side during the 1990s. I’d say by then there was a 50-50 split between women and men in key editorial positions. In the electronics industry, however, there were few women executives. The first woman CEO of a major distribution company was Harriet Green, named CEO of Premier Farnell in 2006. Prior to that there were a handful of women in C-level positions – I know if I mention names I will forget someone – which was extremely encouraging. These days I see more women at industry forums such as EDS and at the ECIA conference than ever before, and they are in management positions.
Have you seen a change in the positions women hold within the supply chain industry?
Again, absolutely. Women are holding higher positions in management within my ‘world’—electronics distribution – but even more so within the online/social media companies such as Yahoo that have become so important to all of us. I also recently attended a presentation by a woman who headed the high-tech entrepreneurial business within Foxconn – a Chinese EMS company – who has since moved to Flex.
Any advice for women considering entering the industry?
My advice would be the same for anyone—learn as much as you can upfront. In business journalism, I had to interview CEOs and MBAs and at the beginning that was intimidating. I finally overcame that fear by reading everything I could about the company, the industry and the executive in advance, and I also asked ‘dumb’ questions of people I trusted. I also found that admitting what I didn’t know never hurt me: even the highest executives in the industry were willing to take the time to explain many of the things that make this industry unique. I think in general people are always willing to give someone a ‘hand up.’ I also found that companies like to work with writers that took the time to learn about their business. Knowledge and professionalism are guidelines I’d recommend for anyone.
On a broader level, what trends do you see within the industry?
I think right now there is a lot of turmoil regarding the supply chain as we know it and the implications of conducting business digitally. This applies to how companies work internally and how they are going to market. The supply chain has done a pretty good job at adopting technology to improve internal operations – we haven’t had an inventory glut since 2001. Externally it’s another matter. E-commerce unintentionally set off huge problems in counterfeiting. We are still trying to figure out where social media fits: it looks like ‘free’ advertising – you can generate a lot of attention with a tweet – but you don’t always control your message. Look at the mistakes people make that go viral.
Then there is managing the supply chain online. Business practices within the electronics supply chain haven’t kept up with technology. For example, supplier franchises are still granted on a regional basis – less so than before – but online business doesn’t have any boundaries. I think we are going to see common supply chain practices change as technology accelerates. Geographic boundaries are already crumbling, and there are practices such as ship-from-stock-and-debit; inconsistent global pricing; and demand-creation compensation that are simply inefficient. There’s little room for inefficiency in the digital supply chain.
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by Fronetics | Apr 6, 2016 | Blog, Content Marketing, Marketing, Social Media, Strategy
Fronetics Strategic Advisors helps clients increase brand awareness, foster meaningful customer engagement, and grow business.
Fronetics Strategic Advisors is a management consulting firm focused on identifying and executing areas for growth and value creation for our clients. We are unique in that we use a data-driven approach to align marketing programs with business objectives and to deliver results.
“Fronetics” is derived from the ancient Greek word fronesis, meaning wisdom or intelligence, and is translated as “practical wisdom.”
Our team of strategists, marketing professionals, writers, designers, and social media experts leverages industry experience to elevate our clients’ brand position within the industry. We work with you — getting to know your business, your target customers, your industry, and your competition — to create a digital and content strategy individualized for your specific situation and needs. We put metrics on all marketing activities and monitor them regularly. And then we identify challenges, trends, and opportunities and take action so that your content marketing program constantly evolves and delivers results.
Fronetics offers comprehensive digital and content marketing services, including: content creation, content curation, content distribution, social media management, email marketing, lead nurturing strategies, and pay-per-click. Learn more about what we can do for your business below.
Content Creation
There is a lot of content out there. If you want your content to stand out and drive profitable customer action, you need quality content. At Fronetics, we create quality content that drives results. Unlike other firms, we don’t outsource content creation. By keeping all content creation in-house we are able to ensure a quality product.
Our team creates the following types of content:
- Blog posts
- Articles
- eBooks
- Case studies
- White papers
- Newsletters
- Press releases
- Infographics
- Social media
- Custom content
Social Media
Social media is an incredible tool; however, for it to be effective it must be driven by strategy, be consistent, and must have someone managing the execution.
At Fronetics, our social media strategists distribute content, curate content, engage your target audience, and monitor your social networks. We develop a social media strategy that aligns with your company’s goals.
We analyze your competition, classify your target audience and cultural attributes, identify the influencers in your industry, recommend platforms, detail best-engagement practices, create social media schedules, and identify specific tactics that deliver results.
Through the proper execution of social media, your brand is given a voice and personality, and becomes more accessible to your target audience.
Strategy Workshops
To effectively attract target customers, generate leads, and establish your company and your brand within your industry, you need a digital and content marketing strategy; a piecemeal approach does not work.
At Fronetics we offer both half-day and full-day workshops to help your business create and execute digital and content marketing strategies that drive success and elevate your brand position within your industry. Our workshops are intensive and hands-on. By the end of the workshop you will have an actionable and sustainable strategy that is aligned with your company’s business objectives.
Following the workshop you will receive a full year of support from our expert staff.
Schedule a free marketing assessment
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by Fronetics | Apr 5, 2016 | Blog, Content Marketing, Marketing, Strategy
The benefits of content marketing take more than a few months to come about.
Kate Lee, Senior Director of Strategy, recently wrote about a client who was disappointed in a newly adopted content marketing program and ready to quit — certainly they should be seeing more leads and more sales by now, right?! Since the company was just a few months in, the answer was no; that’s not how it works.
Content marketing is a long-term solution that helps businesses build brand awareness, grow their audience, and generate new leads and sales. But, like any good relationship, it takes time and effort to achieve results. You shouldn’t give up before the seeds you sow have time to bear fruit.
Just how long will it take for your content marketing strategy to yield results? Well, that really depends on your business and your goals, but you can count on at least six months. (Joe Pulizzi, founder of the Content Marketing Institute, says more like 18.) The point is, content marketing is not a magic, overnight solution. The reason reflects why content marketing is effective in the first place.
Let’s take a look:
Developing your strategy takes time.
Only 11% of companies without a documented content marketing strategy find their efforts to be successful, compared to 60% of companies with a strategy in place. (That number rises to 86% when the company designates someone to lead the strategy.) The significant increase in effectiveness can be attributed to the careful thought and research that goes into building a strategy.
You will need several months to build the foundation of your content marketing plan if it is to be effective. You need time to research the kind of content that resonates most with your audience and to truly understand the (very specific) demographic that finds value in what your company offers. Then you need time to determine and test which distribution channels will most effectively reach your target audience, to discern a plan for content production, and to build out an editorial calendar reflective of your strategy.
Without getting all of these pieces precisely right, you’ll waste an enormous amount of energy and resources working on an ineffective strategy. Take the time to evaluate the market for your business and its content marketing strategy, and you’ll realize results in time.
Becoming an authority takes time.
The goal of your content marketing efforts should be to be a consistent source of information and value to your audience, who gradually will come to trust your authority and reward you with their business when they are ready to make a purchase. And establishing yourself as an expert doesn’t happen overnight.
Consistency is key for two reasons. For one, the average B2B buyer consumes between two to five pieces of content before making a purchase decision. If your content is old, arbitrary, contradictory, or otherwise unreliable, buyers will chose a different vendor whose content is more trustworthy. Consistent and consistently good content keeps your target audience engaged and builds your credibility with them.
Secondly, search engines rank websites based on several factors, and one of the most important is consistency. If your company blogs every other month, compared to companies that post several days a week, your posts will be penalized in search results. And since very few readers click beyond the top five search results, you’re drastically reducing your organic search potential.
As a SumAll article put it, “Whether getting traffic to your blog or your content ranked in the search engines, it doesn’t happen overnight, but instead by repeatedly creating and distributing quality content on a frequent basis for the long-term.”
Building your audience takes time.
The B2B buying process is becoming longer and more complex because the majority of buyers (82%) are using more sources to research and evaluate products and services, and they are spending more time in the research phase itself. In fact, 71% of B2B researchers start with a generic search — rather than searching for a particular company — and do an average of 12 searches before even engaging with a specific brand’s site. They are 57% of the way down the sales path by this point, meaning they have already spent a fair amount of time educating themselves with the enormous amount of information available to them on the Internet.
This means you need to allow your target audience time to find you and complete thorough research about you and your competitors before you even realize that the lead exists. And likely there will be more time before a sale takes place.
Content marketing is much more about lead nurturing than producing instant results. As you build your reputation as a valuable source of information, you will simultaneously build a loyal following of readers and content consumers who continue to return to you for knowledge and, ultimately, purchases. Relationship-building is not a streamlined process, but it does foster the ever-valuable repeat business that will have a greater impact on your bottom line than a one-and-done sale.
Your sales cycle takes time.
Unfortunately, content marketing cannot decrease the length of your sales cycle. Thus, you can’t expect to see the fruits of your labors (in terms of dollars) until at least one cycle is complete.
There should be, however, hints along the way that your efforts are working. Metrics like increased website traffic, email registrations, and social reach offer clues that more potential customers are finding your business in their research. You should take these signs and continually evolve your strategy to accommodate what is working for your business.
Also keep in mind that while content marketing can have an enormous impact on generating and nurturing leads, it does not deliver sales on a silver platter. Sales teams still play a major role in building on those relationships and closing deals.
Give your relationship with content marketing time to play out, and don’t be afraid to adjust your strategy along the way if you find some things are working better than others.
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by Fronetics | Apr 4, 2016 | Blog, Leadership, Strategy
A recent study shows the most successful companies had leaders with these four traits in common.
What executive leadership skills really matter in terms of a company’s growth and success? Are there distinguishing characteristics among executives whose organizations succeed versus those who fail?
One recent decade-long study of executive transitions, published in the Harvard Business Review, provides a closer look at why failure rates for companies remain high in spite of strong leadership. The authors’ goal was to determine if there are certain common traits among leaders which positively impact organizational performance.
After thousands of interviews, an in-depth statistical analysis, and a study of countless historical performance reviews, the authors identified four recurring traits of successful executives. Possession of two or three of the traits correlated to some success, while mastery of all four traits led to the greatest success for the leaders and their companies.
The Four Characteristics of Exceptional Executives
So, what made these executives achieve great success? Here is a breakdown of what matters most:
1. They understand all aspects of their business.
Exceptional executives possess in-depth knowledge of all the intricacies of their businesses and how each piece meshes together. Upon arrival into the C-suite, they push aside old cognitive biases in favor of leading with openness and a drive to learn more. These executives broaden their exposure to all parts of their organization and take on a variety of cross-company assignments to increase their understanding of the business. This helps them identify weaknesses in the organization’s seams, improve daily operations, limit fragmentation, and keep the company competitive.
2. They are solid decision-makers.
Successful executives know how to weigh the available information, gather additional knowledge when necessary, and use gut instinct to make good, educated decisions. Good decision-makers are hard to come by: A McKinsey survey of 2,207 executives showed that only 28% thought their company made generally good strategic decisions, and a whopping 60% thought that bad decisions occurred as often as good ones. Exceptional executives also have the ability to discuss their viewpoints, engage others to share their thoughts and ideas, analyze data for further insight, weigh the alternatives, own their decision, and communicate the decision clearly.
3. They have a thorough knowledge of their industry.
The most successful executives know every aspect of their company’s industry. The have a solid grasp of the ever-changing landscape of their business, including who their competitors are and why. They know what makes their business stand out above the crowd, how to remain competitive, and how their business answers customers’ needs. Top executives possess a contextual intelligence about their industry and their place in it.
4. They form meaningful relationships.
Top executives demonstrate concern beyond the company’s results by showing genuine care for their colleagues, from shareholders and superiors to direct reports and customers. They are able to communicate in compelling ways and form relationships beyond the superficial. Exceptional executives instinctually know how to form mutually beneficial, trusting relationships. One study that supports this theory found that poor relationships occur at a very high percentage within executive failures.
The good news is all of these traits, once identified, are easy to learn and address. Look at which of these four traits might be hindering your success the most and begin there. By taking the steps to educate yourself, change your habits, and perhaps refine your approach, you could increase your positive impact on your organization’s success.
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by Fronetics | Mar 29, 2016 | Blog, Strategy
Firing a client can help you make way for others who better suit your business.
Letting someone go can be hard to do. But when it comes to certain clients, it may be necessary to ease them out of your business portfolio.
Fire a client? Who does that? Well, successful companies committed to providing the best service possible and maximizing their energy for future growth do it whenever necessary.
Let’s face it: We all have had all-encompassing clients with whom the payoff does not correspond to the hours spent catering to their needs. These clients just may not be a good fit for your business. Essentially, if what you give far outweighs the return, or if you struggle to meet your client’s needs and expectations, it is probably time to fire that client. You are not doing what is best for them (or you) by keeping them in your portfolio.
This may seem counter-intuitive to growing your business, and the thought of giving up hard-earned clients may make you cringe, but, in fact, it better supports your success.
Why? If you have clients who are overly demanding, temperamental, or requiring skills or services you do not wish to provide — especially if they do not pay you what you’re worth — perhaps it is time to cut ties to make room for new clients.
According to the Forbes article “4 Reasons to Fire a Client,” sometimes a business will discover that focusing on a different set of services is far more profitable than some other services they offer. So, the business focus shifts, and the client portfolio should shift with it.
Firing those ill-fitting clients allows time to acquire new clients who align with your top skills and practices, and who will pay you what you’re worth for them. Essentially, you set yourself free to work with those that can fully benefit from your services. And focusing your time on clients that fit your business model will better support growth and happy clients who recommend your services to others.
How do you decide?
You may have a client that comes to mind as you read this. You are always making adjustments to provide them the best service. You second guess yourself and your quality of work. Quite simply, the relationship is exhausting.
First, you should do a thorough audit of your relationship with this client. Identify why the client doesn’t seem to fit your company’s business model. Essentially, try and identify why your client’s needs and your company’s services do not seem to align.
Perhaps your business and theirs were once a good fit, but now you have grown apart. According to the Harvard Business Review article “A Consultant’s Guide to Firing a Client,” business owners typically learn exactly where they excel, and where they’d like to focus their attention, over time, so perhaps your focus has changed or grown. Maybe this client has never been a good fit, and hindsight is 20/20. Examine the entire business relationship from the time you first acquired the client, and document everything.
How do you fire a client?
Once you determine that you will fire a client, the approach must be done either by phone conversation or in person. Never leave a message, send an email, or text a client to accomplish this. You need to do it with tact and professionalism.
Discuss and illustrate the basic reasons why the client and your services are no longer a great fit for either of you. Recommend another company to take your place if you can, and thank them for the time you worked together.
You need to keep your company’s strengths in the forefront of what you do and the services you provide. Some clients mesh with your particular expertise, interests, ethical practices, and work style. Other clients will make you feel like it is a constant struggle to provide them what they need and deserve. Sometimes firing a client is the best thing you could do for both your business and theirs.
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