In the Coronavirus age (yes it’s just six months but seems like an age!) there are great challenges and no “re-opening” strategy seems to be perfect. Organizations can just try to do their best (be excellent) instead of trying to be perfect. The virus is invisible and thus it brings the “Excellence vs. Perfection” dilemma into sharp focus.
Ask anyone – What is marketing? And you’ll get answers like advertising, social media or mobile marketing. Others, who have taken a formal marketing class, will say 4 P’s (Product, Price, Place, Promotion). This is surprising and at the root of any marketing effort that fails or provides a less than hoped results. And as anyone who has tried to market anything has learnt – marketing results tend to disappoint. Unless, the marketer is razor focussed on the customer and their perceived value.
States like New York have started to reopen after reaching low COVID infection rates. Here are some thoughts about opportunities for B2B marketer:
The Coronavirus has challenged everyone globally. However, all content creators can get inspired by some popular nuggets from Mark Twain.
With the experience of coronavirus COVID 19 lockdowns work-life will change forever. . With 91% US kids at home parents are spending more time than ever with children. Some parents have jobs that allow digital work and these folks are so lucky. Then there are the struggling 25 million unemployed in the travel, tourism, retail and any type of jobs that require a physical presence. At the other end of essential workers are the beleaguered medical worker, true heros, who show up every day to work. No less valiant are factory workers, grocery retail workers, law enforcement folks who are keeping essential services working. For everyone in each of these situations the pandemic has been trying as the USA tries to reopen. Going forward here is how work life will change:
The most exciting thing for business over the 2019 summer was when the Business Roundtable put out a Statement on the “Purpose of the Corporation.” Signed by 181 American CEO’s all of whose brands are well known to consumers or businesses, the statement reflects the changing times. Download the Roundtable Statement here and check out the 181 signatures from many CEO’s of companies you are already familiar with.American politicians have been telling us what we know to be true – the “American Dream” eludes most folks today due to rapid changes in globalization and technology. Thankfully, leaders of American businesses have taken notice and have decided to move their focus from the “next quarter” to “long term shareholder value” on the shareholder element and have included all stakeholders in the “Purpose of the Corporation”. The times have truly changed in the last decade with all stakeholders having a voice on social media and the old dictum of “just focus on shareholder (short-term) value” can no longer work. See Eric Posner’s article “Milton Friedman was wrong” in the Atlantic.
Enter big, bad, old world, clunky Microsoft who acquires Github last year and the Internet exploded with jokes. Both Bill Gates and Steve Balmer were tough industrial age managers and Satya Nadella realized that the world had changed- see “How Microsoft got its groove back.”Command and Control” and top down strategy days are over in the knowledge age.
Google on the other hand depends on searcher feedback to make the search engine better and better. If people think that an answer is good that answer is pushed up in SEO and Google becomes better next time that query pops up.In the process, when more customers view a page or video it signals that it is answering the query the customer had typed. The customer really does not have to share a page on Facebook for the page to become better ranked. Views of a page against a search query is good enough to rank the page higher. This is the reason that we watch YouTube videos that have higher page views and traditional media talks about how many views a video or TED talk has.It ‘s hard to build a product like Google that automatically becomes better every time someone uses it. If you think about it, legendary brands like Coca Cola do not have an automatic machine based system of becoming better. However digital businesses like Amazon and Netflix rapidly use big data to improve their recommendation engines.Sometimes you do feel that the suggestions are right and not simply up-sell tactics.
Blockchain technology will start shaking up supply chains and brands. But first, what is blockchain? Here's our take: Blockchain is a distributed accounting ledger . A mechanism to share how much was paid and received by whom, where each transaction is verified on a peer-to-peer basis. Sort of like verified reviews on Amazon. The personContinue reading “Blockchain will make supply chains stronger but challenge brands”
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: Why do businesses buy? No business buys a product or service for pure “fun”. All business purchases are for a business purpose. These would include buying machineryContinue reading “B2B Marketing with Google AdWords”