by Fronetics | May 13, 2020 | Blog, Covid-19, Current Events, Marketing, Strategy, Supply Chain
With a main lead-generating source canceled or postponed, trade show contingency plans take on increased importance.
The Supply Chain USA 2020 summit in Chicago is a flagship event. Considered a must-attend gathering for strategic decision-making, it draws 1,000 supply chain and logistics leaders for three “unmissable days.”
For executives like Tom Schmitt, chairman and CEO of Forward Air Corp., it is the type of event that generates so many “relevant conversations” that he says it is like getting the value of nine business trips for the price of one.
This year, though, those who planned to head to Supply Chain USA, June 16-18, will need to start working on their trade show contingency plans. The fallout of the coronavirus pandemic has forced EFT, the organizer, to postpone and a new date has yet to be determined.
And — as you have likely experienced yourself — the summit attendees are hardly alone. Within weeks of the Covid-19 outbreak, 1 million people saw their corporate event plans scuttled. MODEX in Atlanta, Ga., in early March, turned out to be one of the last hurrahs for supply chain professionals — half of the pre-registered attendants were no-shows — before cancellations and postponements turned the supply chain conference circuit on its head.
Now, supply chain pros wonder, “What’s next?”
Covid-19 forces domino of cancellations, postponements
A look at this list gives you an idea of the impact: (Check event websites for the latest info)
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Trade show contingency plans need to fill big lead generation gap
For supply chain and logistics companies, the cancellations and uncertainty surrounding the postponed shows are no small matters. Trade shows are one of the largest lead generators for B2B demand generation.
Technology and service providers spend an average of 11% of the marketing programs budget on third-party tradeshows, according to the Gartner 2019 Tech Marketing Benchmarks Survey. And the investment seems to be paying off, as 18% of the same companies rank events as the best-performing calls-to-action of marketing-qualified leads, second only to content assets.
Another survey, by MarketingCharts, found software and technology companies cite events as the most effective demand-generation tactic for attracting top-of-the-funnel qualified leads.
In other words, the need to develop trade show contingency plans is quite urgent.
Trend watch: What some companies are doing
So, what actions have some of your peers taken to date to make up for the loss of face-to-face networking?
Some trends are emerging, including:
E-learning: To ensure business continuity while adhering to stay-at-home policies, DC Velocity notes e-learning has taken on increased significance. The establishment of interactive online courses allows companies to conduct specialist training sessions on complex topics that attendees can complete at their own pace. (E-learning is usually a time-consuming and fairly costly endeavor but can serve its purpose when the audience already has an invested interest in the company. For quick engagement, we recommend webinars.)
Dropped subscription fees: On-premise platforms that run on business servers are not conducive to remote work — and vendors of cloud-based supply chain software have seized the market opening. For the sake of lead generation, a range of companies have dropped subscription fees, offering free access to products like transportation management, route optimization, last-mile visibility, and remote robotic operations. One example: InMotion Global, Inc., has made its cloud-based platform, AscendTMS, available at no cost to any company needing help for 30 days.
Quick actions matter
The fact more people are spending more time than usual on their computers provide an opening for companies that can leverage trade show contingency plans. Gartner, for one, advises teams must be prepared to quickly pivot marketing strategy and build campaigns to address this shift.
Immediately after a cancellation or postponement, actions may include:
- Replace all scheduled event meetings with online meetings within 24 hours.
- Create a webinar series that homes in on the key messages you had planned to convey.
- Develop a series of video posts for the company blog that leverage the materials you prepared for speaking sessions and in-booth presentations.
- Promote all content on social media (Video content generates better engagement).
- Combine paid advertising and account-based marketing to target potential buyers.
- Inquire whether there are any opportunities to use the digital channels of the show host for promotions.
Stay relevant — at a distance
Although it may feel like unchartered territory, you really can have relevant conversations online. Base your opening statement on a trade show contingency plan.
by Fronetics | Dec 5, 2017 | Blog, Content Marketing, Current Events, Logistics, Marketing, Supply Chain
Companies in the supply chain and logistics industries should take note of these 4 trends that are gaining traction as we move into 2018.
Joe Pulizzi of the Content Marketing Institute recently revealed his predictions for the biggest trends in content marketing for 2018. As the founder of CMI, Pulizzi dedicates his time discussing how content marketing has evolved with leading marketers from around the world and keeps his finger on the pulse of content marketing trends.
Most of the predications we discussed for 2017 are still holding true as we roll into another calendar year. Supply chain and logistics companies are still working overtime to nail down a true content marketing strategy. Native advertising is still the “gateway drug” to content marketing. And the growing dependence on mobile devices has continued to skyrocket.
What does this mean for 2018?
The key trends from 2017 continue to highlight the importance of good content. With over one million new-data-producing social media users each day, high-quality content is the only way to stand out from the masses. As you start to strategize for next year, and beyond, be sure to consider these trends in your supply chain marketing plans.
4 content marketing trends for 2018
1. Original content is king
A recent report claims that Apple is planning to invest over $1 billion on original content. Why the hefty price tag? As competition in the mobile space continues to heat up, brands need to do more to stay relevant. Valuable, original content can help companies like Apple grow its audience and keep its current customers coming back for more.
What does this mean for you? Pulizzi believes that this trend will offer companies multiple options to monetize their content. Either through direct sales to customers or advertising and sponsorship opportunities, supply chain and logistics companies will be able to cash in on their original content.
Make sure to keep a close eye on your competitor’s content. More and more companies will see the value in original content and look to build loyalty and support from their growing audience.
2. Creating vs. purchasing
For those supply chain and logistics companies that don’t have the time or resources to invest in creating original content, acquisitions will offer a pricey solution. 2018 will see a spike in content marketing brand acquisitions, giving companies full-service content options. Back in August, Netflix acquired Millarworld, a comic book publisher, hoping to gain traction with cutting-edge content in a host of different mediums.
While 62% of companies outsource their content marketing, the rise in acquisitions highlights the value of content creation and distribution. The decision to create content vs. buy will depend on the size of your wallet.
3. Content marketing budgets on the rise
According to Marketingmag.com, content marketing will become a $300 billion industry by 2019. That’s a lot of money being spent on content creation and distribution, which can only mean one thing: content marketing budgets are increasing. 39% of marketers expect their content marketing budgets to increase this year.
More brands are seeing the effectiveness of content marketing over traditional advertising. Moving away from traditional advertising and optimizing your content marketing strategy will make your marketing budget dollars stretch further and work harder in getting your content in front of the right people.
4. Content marketing overlap
Many of us are familiar with Marcus Sheridan’s story about the success of his pool company and starting the Sales Lion. Desperate to save his company, Sheridan threw himself into content marketing and created the most-visited swimming pool website in the world. Sheridan’s biggest take away? Marketing is a team sport. “Want content marketing to work? Involve everybody on your teams,” writes Sheridan.
Content marketing doesn’t work in a silo and without leadership. For content marketing to be most effective, leaders need to give clear ownership to someone over your content marketing strategy. From there, everyone needs to get on board, creating a culture of content. Your sales teams should integrate your content marketing into their sales processes. Your PR team should meet regularly with your social media experts.
“To say you have a culture of content is to say that everyone who works for your company understands the value of the information you provide and participates in making that information useful,” writes Marcia Reifer Johnston.
Overlap is bound to happen in your content marketing endeavors. The key is to have clear leadership over your strategy and regularly communicate your goals and initiatives, so your entire team can be engaged in your efforts.
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by Fronetics | Nov 1, 2017 | Blog, Manufacturing & Distribution, Strategy, Supply Chain
Manufacturing companies are hoping to continue their revenue growth in 2018 by focusing on 3 key areas.
KLR has released the results of its annual manufacturing industry outlook report, and the optimism following last year’s elections will continue straight through 2017.
With promises of tax reform, decreased federal regulations and looser trade agreements, manufacturers have slowly seen revenue growth throughout the U.S. markets. That growth is projected to continue into 2018.
56% of respondents expect business will continue to increase throughout the year.
And though manufacturing companies are striving to control their costs and cut back on unnecessary expenses, many companies reported increasing their marketing budgets, including technology, to invest in the future of their revenue growth.
So where is the additional money going? Manufacturing companies are investing their profits back into new products, expanding markets and breaking into new territories.
Here are the top 3 priorities for manufacturing companies in 2018.
1. Increasing share in existing markets
Over the next 12 to 18 months, 64% of the manufacturers surveyed expect their growth to come mainly from increased market share and organic growth in existing domestic markets. Manufacturing companies are looking to increase their market share through innovation, strengthening customer relationships, reliable hiring practices, and staying ahead of their competitors.
2. Seeking new markets for products and services
Manufacturing companies are trying to think outside of the box when it comes to expanding their markets. Avon got its big break when it took the now-dated approach of selling products door to door. By trying a different avenue, it was able to increase revenue without fighting for retail space with other corporate giants. Like Avon, companies are working hard to come up with innovative ways to break into untapped markets.
3. Developing new products and services in response to changing consumption patterns
Using social media platforms and other marketing tools, it’s easy for manufacturing companies to stay in touch with their customers. This engagement provides the best insight into the types of products, features and solutions your customers are looking for. Based on this crowdsourcing, or social listening, companies are able to develop products that they know will resonate with consumers and their changing needs. Though product development can be expensive and risky, incorporating customers into the conversation helps manufacturing companies minimize risk.
Despite growth throughout 2017, there are still challenges that manufacturing companies face. How are manufacturers coping with these challenges? They are adjusting their priorities and focusing on these three areas to continue growing their business and, ultimately, their sales.
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by Fronetics | Oct 18, 2016 | Blog, Logistics, Manufacturing & Distribution, Strategy, Supply Chain
These TED Talks, which cover issues from technology to business strategy, will be of interest to companies in the supply chain.
Back in December, we wrote about 5 TED Talks that might be of interest to the supply chain. Since that time, the popularity of the site has continued to grow, and it continues to add more interesting and thought-provoking content.
Here are 5 more TED Talks from 2016 that companies in the supply chain and logistics industry will want to see. They cover a range of topics, from technology to business strategy.
TED Talks the supply chain will want to watch
1. The Next Manufacturing Revolution Is Here
By Oliver Scalabre, Senior Partner and Managing Director, BCG – Paris
Economic growth has been slowing for the past 50 years, but relief might come from an unexpected place — a new form of manufacturing that is neither what you thought it was nor where you thought it was. Industrial systems thinker Olivier Scalabre details how a fourth manufacturing revolution will produce a macroeconomic shift and boost employment, productivity, and growth. Watch
2. The Jobs We’ll Lose to Machines — and the Ones We Won’t
By Anthony Goldbloom, Co-Founder and CEO of Kaggle
Machine learning isn’t just for simple tasks like assessing credit risk and sorting mail anymore — today, it’s capable of far more complex applications, like grading essays and diagnosing diseases. With these advances comes an uneasy question: Will a robot do your job in the future? Watch
3. Two Reasons Companies Fail — and How to Avoid Them
By Knut Haanaes, Professor of Strategy and International Management, IMD
Is it possible to run a company and reinvent it at the same time? For business strategist Knut Haanaes, the ability to innovate after becoming successful is the mark of a great organization. He shares insights on how to strike a balance between perfecting what we already know and exploring totally new ideas — and lays out how to avoid two major strategy traps. Watch
4. How to Build a Business that Lasts 100 Years
By Martin Reeves, Director of the BCG Henderson Institute
If you want to build a business that lasts, there may be no better place to look for inspiration than your own immune system. Join strategist Martin Reeves as he shares startling statistics about shrinking corporate life spans and explains how executives can apply six principles from living organisms to build resilient businesses that flourish in the face of change. Watch
5. Shape-Shifting Tech Will Change Work as We Know It
By Sean Follmer, Assistant Professor of Mechanical Engineering, Stanford University
What will the world look like when we move beyond the keyboard and mouse? Interaction designer Sean Follmer is building a future with machines that bring information to life under your fingers as you work with it. In this talk, check out prototypes for a 3D shape-shifting table, a phone that turns into a wristband, a deformable game controller and more that may change the way we live and work. Watch
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by Fronetics | Aug 21, 2014 | Blog, Leadership, Strategy, Talent
Want to advance? Stop whining. Whining won’t get you to the top.
Whining. Just writing the word makes me cringe. Whining is a truly unattractive characteristic. It is unattractive in children and it is even more unattractive when adults partake. One of the reasons why whining is just so unattractive is that it is ineffective and it can make a brilliant leader look like, well, like a blithering child.
Given this, why is there so much whining in the office? Ron Ashkenas, a senior partner at Schaffer Consulting and author of several books on organization change and effectiveness, wrote in a post for the Harvard Business Review:
The reality is that all of us whine, complain, blame others, and try to avoid responsibility. It’s part of the human condition. Nobody likes to clean up problems caused by others — or admit that they’ve created problems themselves. We also try to preserve a positive self-image and we go to great lengths to get others to perceive us positively as well. Given these basic human dynamics, most of which are unconscious, it’s often easier to talk to colleagues about what somebody else is doing wrong. At worst we’ll get sympathy. At best, we’ll convince someone else to take care of the problem.
Ashkens continued, noting that the current economic environment and organizational structures have made it so that “it’s tough to get things done — which leaves people feeling frustrated and in need of a sympathetic ear.” But let’s be honest. When your co-worker comes up to you whining (again) about this or her workload — do you really feel sympathy?
Let’s look a little closer at what Ashkenas said. Essentially, whining is used as a tool to “blame others” and “to avoid responsibility.” Neither blaming others nor avoiding responsibility are positive traits. Neither of these traits will get you hired nor will they get you promoted. The qualities that will get you that next job, which will get you recognized, and will get you promoted are stepping up, taking responsibility, and taking action — the antithesis of whining.
In his book The Last Lecture, Randy Paush astutely wrote:
If you took one-tenth the energy you put into complaining and applied it to solving the problem, you’d be surprised by how well things can work out… Complaining does not work as a strategy. We all have finite time and energy. Any time we spend whining is unlikely to help us achieve our goals. And it won’t make us happier.
Want to be taken seriously? Want to be effective? Want to be successful? Stop whining.
