Why Granularity Matters In B2B

The B2B customer is complex, dynamic, and focused on fulfilling a need. Given that, B2B marketers must tap into their available data to better address those needs. Yet many marketers limit their success metrics to revenue gains and losses. This is a mistake because this metric doesn’t tell the full story. Marketers who operate without an assortment of KPIs risk making the assumption that a campaign is performing better or worse than it actually is. As a result, they could make ill-informed decisions that could adversely impact the success of their program.

Making It Happen On The Field

To get a true picture of a campaign’s performance, marketers should leverage KPIs that are tied to their specific goals. For instance, if you want to gain insight into user engagement, you might want to examine such metrics as time on site, bounce rates, and pages viewed. On the other hand, if you want to better understand the relationship between your products, you should consider attribution metrics such as assists or lifetime value. Or perhaps you want to take a closer look at your conversion funnel to understand where users are getting hung-up. In that case, you may want to tap into metrics such as entry and exit pages. Overall, there are numerous metrics that can provide valuable insights.

However, there’s a big difference between desiring more granularity and making it happen. Marketers need to ensure that it is possible to measure the new metrics, and that the reporting process is useful and sustainable. The reality is that getting the job done may require new tracking pixels, a new analytics package, or even a change in mindset. In short, marketers need to be cognizant of the fact that there is a lot more to choosing KPIs than just making a wish list.

Looking Beyond Wins And Losses

The importance of granularity is now apparent to a B2B software manufacturer. The company provides two versions of a product on their website: a basic version at zero cost, and an advanced version for a fee. Given those offerings, the only success metrics they reported were the number of free downloads and the number of purchases. But deeper analysis revealed two key insights: 1) the keywords for the basic free version were contributing to the bulk of purchases for the advanced product; 2) customers who downloaded the free version before making the purchase had a higher lifetime value than those who purchased it first. Clearly, B2B marketers need to look beyond revenue before making campaign decisions.

Tips To Get Insights Right

But variety alone won’t provide the complete picture that B2B marketers need. To fully capitalize on metrics to gain important insights, follow the below tips to get it right:

1. Broaden your analysis to include various decision makers. There are a variety of decision makers in the B2B purchase cycle, and each has different needs. For example, a procurement manager tends to identify with product fact sheets and pricing matrices. However, a COO looking for a strategic business partner searches for proven business success in case studies and company history. Diving into the bounce rates of the pages that speak to your various audiences can provide often- overlooked insight into multiple customer profiles.
2. Change your metrics to match your mix. Marketing mixes constantly change, while the accompanying success measurements don’t change as frequently. For instance, companies with a deep history in TV may assume that impressions are the best metric to use online as well. And while this would be fine if the online ads are for branding campaigns, it wouldn’t be appropriate if the goal is engagement or conversion-based.
3. Adjust your tracking windows. Visitor tracking windows may be too short or even outdated. For example, if a tech manager configured a company’s first analytics package two years ago, he may have assumed that the default cookie window of 30 days sufficed. But what if new research indicated that consumers took an average of 60 days to make a purchase decision? Extending cookie windows provides more accurate data about conversion sources, and gives credit to the channels that led to the conversions.
4. Don’t overlook assists. Marketers could toss away important keywords if they appear to be non-performers because they don’t generate direct conversions. But tracking “assists” can give you more insight into what your campaigns are actually generating. In fact, it can demonstrate that an effort is driving significantly more conversions than previously reported. For example, top line analysis may reveal that a campaign for product X drives 10 purchases for the offering; however, by including assists, the analysis reveals that it is driving 30 purchases for the company as a whole.
5. Be sure to analyze a conversion-free website. When a website is not e-commerce or trial based, marketers tend to focus on traffic. However, setting goals based on other on-site metrics provides clearer guidance for making changes to the site. For example, “cost per quality visitor” looks at the investment spent on users who engage with the site. A quality, engaged user is one who does not bounce, and continues viewing the content available. Most analytics vendors offer path analysis reports to provide further insight into content success.

Revenue is an important metric to consider when assessing the performance of a campaign, but it doesn’t tell the whole story. B2B marketers should tap into a variety of KPIs to get the insight they need to drive performance and make their campaign a winner.

Granted, there are a number of ways in which B2B marketing differs from B2C – that’s a given. However, the “uniqueness issue” becomes a problem when it limits a campaign. In short, it can cause a PPC initiative to lack creativity, have diluted messaging, and hinder reach. Ultimately, it can lead to poor performance.

Time and again, I see this happen when B2B marketers assume that since the products they are promoting are boring, the purchasers must also be boring. As a result, their PPC efforts often match this mindset. Rather than exploring a multitude of creative messaging or colorful channels such as rich ads, many B2B marketers simply stop at the basics.

For example, a B2B marketer with the above mindset might develop the following basic PPC ad when tasked with selling dry-erase markers (a relatively boring product easily bought in bulk and available in primary colors and various scents):

Dry-Erase Markers.
Buy them in cases at MarksMarkers.com today!
www.marksmarkers.com.

Or, the marketer could not only apply a little more creativity, but also go beyond the basics with an ad such as:

Bored with Boarding?
Brainstorm in Chocolate, Lime, and nine other scents.
MarksMarkers.com

This ad could be accompanied with a plus-box video demonstrating workers pleasantly brainstorming while using a rainbow of colors and delectable scents.

But this isn’t the only misstep B2B marketers are making because of their “uniqueness.” To avoid stifling the success of a B2B campaign, marketers should work to steer clear of these PPC mistakes:

Using too many acronyms. Unless a search engine marketer advertises for the FBI, they should assume their audience will not understand the acronyms they use. So the H3II product won an award at the WRA conference? Congratulations, but spell it out. Highlight the top level importance of this award, or the number of nominees. Check the engines’ search query reports to see how the searchers are actually searching.

Not bidding on branded terms. A brand may be completely new to potential customers. Given that, it is imperative that branded terms be covered in PPC, no matter how small the budget. With more and more companies turning to PPC as an effective advertising channel, competition continues to grow. Even if affiliates are trusted and regulated, secure the “official” website’s distinction for users.

Using wordy brochure copy in ads. Google allows 95 characters for the total ad. If a phrase like “dynamic information modeling” is a vital description for a product, remember that 28 characters have already been used in the ad. With limited real estate to communicate the call to action, keep the remaining text concise. Recent studies have demonstrated the importance of coordinating offline messaging into online channels. Reserve corporate jargon and 20-letter spelling bee words for mission statements, and focus on the goal of the ad in the PPC copy.

Assuming Google is king. Google may have the lion’s share of the overall search landscape, but automatically assuming that it will drive the most purchases of your offering is a mistake. Instead, test the other engines, especially if the product or service is in a niche industry. For instance, a recent test of a popular software product in five different engines revealed that nearly 70% of trial downloads were driven from Marchex (a second-tier engine formerly known as Industry Brains). Another product saw a significant number of trial downloads driven from Bing traffic.

Not testing. Many B2B marketers assume that if a product only changes slightly from year to year, then the messaging can remain the same. However, remember that tastes change, economies change, and competitors change. For instance, while ad copy focusing on quality and superior service might have increased click through rate and drove more purchases at one point, the down economy might have changed all that. Now, ad copy focused on discounts and pricing might resonate more with customers. It is important to keep your copy fresh, and testing can help you do exactly that.

Keeping things boring and basic. B2B marketers have numerous opportunities to employ some creativity in their efforts, but few do. For example, they should be leveraging rich search ads, local search, maps, and Google’s content network. After all, what procurement specialist truly enjoys shopping for copiers? However, smart marketers might add some color to the process by exploring PPC programs like Yahoo Rich Ads in Search and multiple engines’ favicon options. Allow users to easily visualize the business location by leveraging Google Local Business Extensions. This option links adwords with Local Business Center, and adds a map to ads triggered by geographical queries. Test video ads on the content networks. These can be a compelling way to grab the attention of the potential purchasers.

Overall, B2B marketers should be mindful that a hyper-focus on their “uniqueness” can actually have a negatively impact their PPC campaigns. By avoiding these PPC mistakes, marketers can set up their initiatives for success.

Why you should care

In slower economic periods such as we’re experiencing now, corporations have a responsibility to consumers to set the standards of conscientious decision-making and giving. And while some stakeholders may question the benefits of the time and money spent on corporate responsibility initiatives, consumers and investors view responsible brands as trustworthy, and are willing to put their money where their perception is.

In fact, 85% of global consumers still expect companies to maintain or increase their charitable contributions during recessionary times (Eric Mower and Associates “Cause Marketing and the Economy Poll”). Today, customers are turning to their trusted brands in hopes that they will provide a solution – or a helping hand – to the causes they cannot contribute to themselves (due to lack of time or financial constraints).

Understanding the value

Today’s headlines are rife with economic woes and bleak outlooks. One way to stand out from the negative headlines is to highlight your company’s corporate responsibility programs, such as community and environmental initiatives. By promoting such efforts, you can reinforce positive brand awareness for your organization in the search engines.

For example, a global B2B software giant promotes success stories about how their products have helped design sustainable buildings. By capitalizing on press coverage and viral messaging, the company has achieved considerable presence in the search results for green initiatives, and is now perceived to be an industry leader in green design.

Yet some companies miss the opportunity to effectively leverage their corporate responsibility initiatives for branding purposes. Financial institutions are a perfect example. While they have been harshly criticized for their response to the credit market as customers panic, many of these same organizations actively participate in social giving programs through housing assistance and community outreach groups. However, few people know about their efforts. This is a big missed opportunity for them.

But capitalizing on your corporate responsibility initiatives can do more than boost your brand in the search engines; it can also help with damage control. Given the current media climate – where news outlets and bloggers jump on the chance to report every hiccup that can be spun into a global crisis – one bad customer experience can turn into a CEO’s nightmare once captured on video and uploaded to YouTube. Given that reality, marketers can leverage their corporate responsibility initiatives to mitigate such negative press.

Making it work

Leveraging corporate responsibility initiatives to boost brand reputation is a smart move. Follow the below seven tips, and you’ll be well on your way to doing exactly that.

1. Choose relevant causes

   If a big-box retailer plants a few trees, it won’t make headlines. However, if this same retailer donates children’s clothing to war-torn nations, people will notice. Stick to social and environmental programs that make sense for your industry. Understanding your customer base can be crucial in choosing a cause.

2. Go Green

   Sustainable business practices mean stable growth to consumers and investors. In today’s oil covered headlines, environmental efforts show visionary leadership and long term strategy rather than short term gains. “Greening” your organization – from supply chains and production lines to the executive row – also conveys confidence in the future success of the business. Green is now a lifestyle, and consumers expect this from their trusted brands.

3. Lend a hand; earn a link

   Even when we volunteer for something, we still want to benefit from it, whether it be self-fulfillment or resume building. Let your company’s benefit come in the form of an external link. Encourage partner charities and green programs to link back to your company website. It’s a free way for these organizations to thank a key partner. These same links can also drive additional traffic to your site.

4. Lighten up

   When other marketing channels go “dark,” social awareness promotions can be a cheap way to stay in the news. Issuing a press release to the wire is not only a low cost publicity tactic, but also an easy way to increase your branded rankings. In doing so, you give customers an opportunity to learn about your initiatives as they shop online or compare customer reviews.

5. Show off your best assets

   Sell green building products? Sponsor animal adoption charities already? Make sure your website clearly links to these vital programs and offerings from the homepage. Not only does this help customers find more information, but it also strengthens internal linking credibility. Structure promotions and giveaways around green holidays and social fundraisers.

6. Give customers and employees a reason to be proud

   When corporations demonstrate social and sustainability leadership, customers are less likely to blog or tweet about negative experiences. Satisfied clients and employees produce credible testimonials. When resources are tight, this is an easy way to generate new content and freshness on-site. In fact, 68% of consumers say that in a recession, they would remain loyal to a brand if they support a good cause (Edelman Good Purpose Study).

7. Tweet and blog

   Holding a fundraising event? Invite millions through Facebook events and watch your brand advocates spread the word. Tweet when new guests RSVP or activities are planned. Tag pictures of the last sponsored beach cleanup on Facebook to encourage employees to share with friends and contacts. Keep the charity events fun for more interest. These social activities can be a free and easy way to increase organic rankings.

In an economic environment where accomplishing more with less is an absolute necessity, marketers need to capitalize on every asset they have, including corporate responsibility initiatives. Doing so is a great way to boost your brand reputation in the search results.  However, failing to capitalize on the opportunity is tantamount to squandering a valuable asset.