Businesses tend to wonder about the effectiveness of their advertising spend in terms of what they actually sold that could be attributed to advertising.To understand how advertising works its useful to look at the hierarchy of effects AIDA sales funnel credited to Advertising Hall of Fame member Elias St. Elmo Louis in 1898. No that was not a typo and check out the history of this kind of thinking called Hierarchy of Effects in the article by Barry (1987).
This post was originally published on April 22, 2014. We have many readers asking about the connection between the AIDA sales model and the Digital Customer Journey or Digital Buyer’s’ Journey. We are delighted to update the original post on March 5, 2021. We hope that this will help all businesses come back after COVID as customers go through their AIDA process online.
Once you get the purchase order (PO) as a new supplier: Congratulations! Your B2B relationship just started. How? It gives you a reason to stay in touch. It allows you to designate account managers who manage the account. Depending on your industry the relationship manager at the selling company keeps track of everything going on. In software and SaaS businesses the “Customer Success” role tries to help the customer get the most out of your product.
The 4th Step in the B2B Purchasing Process is comparison of bids received. This can be a great B2B Marketing Opportunity for new suppliers trying to get in .
The third step of the B2B Purchase Process is the Request for Proposal (RFP). As our dear readers have learnt, just because the job description is detailed and you check all the boxes, you do not get a job interview! Similarly, from the point of view of the B2B Marketer responding to RFP’s does not mean that there is equal opportunity for all vendors.
In Step 2 of the B2B Buying Process, the buying organization develops the Product Specifications/Scope of Work (SoW). This is the document that will be put out for request for proposals (RFP) or tenders. If you have never supplied to the buying company, and you are generally capable, you can face a sudden roadblock. That roadblock feels similar to rigged job descriptions that our dear readers have all experienced.
If you research “B2B buying process” you’ll come up with the steps that a business goes through in the B2B buying process. These include (1) Business need recognition (2) Developing specifications of what will meet the need (3) Request for proposals (RFP) (4) Comparison of proposals/bids and negotiate with suppliers (5) Purchase order placement (6) Delivery and receipt of goods or services (7) Evaluation of suppliers.
States like New York have started to reopen after reaching low COVID infection rates. Here are some thoughts about opportunities for B2B marketer:
To make AdWords more effective for B2B marketing, its useful to understand some key features of B2B marketing before setting up the campaign. Here are those key features:
The Buying Center is an informal group of people in organizations who influence the decision to buy your product or service. Members of buying centers have different degrees of influence and things can get pretty political and unpredictable. It is therefore important to tailor your marketing content for each role in the buying center. MarketingContinue reading “Content marketing for : User members of B2B buying centers”
This is like saying that every first date from digital dating sites (eg. eHarmony) results in marriage. And the marriage analogy is huge in marketing theory. Our favorite is by Dwyer,Schurr and Oh (1987). They debunk the marketing myth of the”one night stand” in favor of the paradigm of”long term marriage.” Just as a marriage takes place after much due diligence on both sides, so does complex B2B and B2C purchases. Lisa Gevelber of Google explains how one customer searches 900 times, at different websites,before deciding to lease a particular car.Read: The Car-Buying Process: One Consumer’s 900+ Digital Interactions.