Delivering Business to Business Results

If you're still using the same old advertising tactics that you used five years ago, your competition is probably leaving you in the swamplands.

In today's business climate, the storm of information technology has created a tidal wave of change for many businesses whose decision makers must adapt or drown.

Take a moment to evaluate your business's marketing plans. Have you stayed abreast of the changes affecting how products and sales are created? Are you using technological advancements to the fullest to set you apart from your competition? Do you need to acquire new skills? Have you reviewed your goals recently and evaluated whether or not you need to make adjustments? Is your advertising program generating more high-quality sales leads per dollar invested than last year? Are these leads being parlayed into bona fide customers?

All too often companies resist change and hold onto programs that are no longer working. Sometimes minor adjustments need to be made to the mix of advertising, PR, direct mail, trade shows, and Internet marketing techniques. It may be a matter of altering the ratio of effort placed on generating sales leads versus turning prospects into customers.

One of the most startling changes in marketing opportunities within the last couple of years has been the Internet. Prior to that, many businesses relegated cyberspace to computer nerds and academics. But the demographics are shifting to include business executives and professionals. More mind boggling is the projected 1997 Internet marketing sales figures of $1,138,000,000 and the 24 million people logging onto the Web this year and 52 million expected by 2000. As a result, the Internet-whether we like it or not-is a force to be reckoned with and should be considered as a small piece of the advertising puzzle for now. More and more businesses are searching online for product information and are using interactive communication through specific Web sites or e-mail. In the next few years, we'll be using e-mail as often as we now use faxes.

A larger part of most business marketing budgets is direct mail or direct response print advertising (in "trade" publications); useful for developing targeted leads. Ron Ferguson from Lafayette, Indiana who specializes in direct mail copy and graphic design, prefers direct marketing because it "gives you instant feedback. So, if it works, you can do more of it right away. If it doesn't work, you can cut bait and run." Short of a personal visit or a phone call, he feels direct marketing is "the most effective form of personal sales communication." He recommends using a simple personalized letter with a no-risk offer, a deadline and a method of reply (and always a phone number).

Similar to consumer advertising, the direct response print ad needs to communicate essential benefits, news or helpful information. It's important to target the customer and know what's important to your prospective client: price, convenience, quality, service or quick turnaround time. Top managers respond well to advertisements that show them how a product or service might help save money.

Television can also be an effective method. Sports and news programs include particularly high percentages of business people and make very efficient buys. Messages should be to the point and offer something of genuine interest. Whether using TV or print, include an easy response mechanism such as a toll-free number.

echnique is telemarketing. But if you don't have that talented kind of person on staff who can "give good phone" and likes it, you should hire a professional company. First, you'll want to follow up on inactive clients to find out tactfully why you haven't heard from them. Often you can glean useful information that will help you fine-tune your business. Next you'll want to begin contacting decision makers in companies that might have immediate interest in doing business with you and set up appointments for your sales staff. Then you'll need to track these prospects and convert them to customers.

The underlying goal of any of these techniques is to build relationships with your prospects. The most efficient advertisement or publicity campaign can only open the door for a sales person to walk through. The ad cannot close the sale, your sales staff must do that. A huge effort in your marketing program should be in good training and enticing incentives for your sales staff.

Another key concern is whether or not you are targeting the right market niche. For instance, The Four Season's Hotel in New York City realized it just didn't have enough meeting space to compete with the large rivals for large corporate meetings. So it found a lucrative business niche catering to investment banks like Morgan Stanley and Goldman Sachs by converting suites into "war rooms" for top-secret negotiations.

Finally, you'll want to measure and analyze your results. By reviewing what media brought in which prospects, you'll be able to refine your advertising program to make it even more efficient and stretch your advertising dollars to bring in higher returns.

Once you take a look at your whole advertising picture and consider all available options for prospecting, you'll be opening the door to a healthier bottom line for your business.