Using Trade Shows, Conferences, and Other Meetings to Create Profitable and Long-Lasting Client Relationships

It is important for technology vendors and solutions providers to remember that every single customer touch point presents a valuable opportunity to create affinity. And, events are no exception. By organizing your presence at trade shows, conferences, and other types of face-to-face gatherings with the customer in mind, your organization can leverage your investment in events to build affinity. This, in turn, will lead to the kind of strong, long-lasting relationships that result in optimumclient satisfaction and retention, as well as sustained profitability and growth. Download the complete CMP white paper "Events: Building The Bridge To Customer Affinity.

Answer: When a marketing program does not work, always go back to the basics of marketing 101: right target, right message, right timing, right channel.
Despite advances in scenario-based Web design created to track customer online behavior and build profiles, or personas, for targeted marketing campaigns, your customers are still bombarded with tons of irrelevant messages—often the result of batch-and-blast campaigns sent by stove-piped e-mail applications and outsourced e-mail service providers—each day.

If you aren’t getting responses, it is quite likely that your customers view your correspondence as spam, rather than relevant or valuable information, regardless of whether or not they have opted to receive your e-mails. Relevance is key in e-mail. Read the complete article on BtoBOnline.

Kerry Smith is president of the Event Marketing Institute, a think tank that follows trends in event marketing through research, analysis and education. BtoB asked Smith to talk about expected developments in the events industry.

BtoB: What do you see as the biggest trends this year?

Smith: There's going to be a focus on a couple of things: First, experience mapping—recognition that when you're doing an event [you] understand who you are trying to engage. Often times, it's multiple people. How are you creating an experience around your event that will allow those people to find the appropriate channels to engage with you? You're going to talk differently to a CTO than to a CFO.

Another area is portfolio analysis. At company after company, they are looking across their entire spectrum of events, and cleaning out the closet [and asking] `Which ones are working for us, which ones are not, which ones are we not sure of?' They're going to start adjusting the dials accordingly.

And then there's this whole area of measuring everything—improving performance. There are no standards for measuring events, [and there are] different objectives for every company. As one marketer told us... Read the complete article on BtoBOnline.

Chief Marketing Officer Council Encourages Adding Customer Affinity Index To The Mix

Customer centric metrics are taking center stage this year as b-to-b marketers pursue new ways to measure customer engagement, satisfaction and, ultimately, loyalty to a brand.

Measuring customer satisfaction is not a new idea, but as technology puts more control in the hands of users, marketers are seeking out the optimal ways to measure how successful they are with their marketing messages, products and services.

Marketers are divided on how best to achieve this. Some are using an array of metrics and other processes to come up with a view of how they're doing with customers, while others are trying to simplify the process by using a single metric, such as the Net Promoter Score.

The NPS, developed by loyalty expert Fred Reichheld, is a score of customer loyalty based on a single question: "How likely are you to recommend our company to colleagues?"

Marketing organizations are also coming up with new metrics to gauge the customer experience.

Last month [December 2007], the Chief Marketing Officer Council released a study on customer measurement... Read the complete article on BtoBOnline.

Register to download the free Executive Summary or purchase the full report from the CMO Council's Customer Affinity Website.

[Note: CMP was an underwriter for this CMO Council study.]

Budget forecasters are predicting that spending on large events will be down this year. But that's not an umbrella forecast for all types of events. Instead, marketers intend to increase financing for smaller, more targeted meetings such as executive breakfasts and roundtables.

According to a recent study, "B2B Marketers' 2008 Budget Trends," by Forrester Research, which surveyed 369 marketing professionals online during September and October 2007, almost 50% of those surveyed said they would increase spending on executive seminars and events. That represents the largest projected increase among all marketing and advertising budget categories, including public relations, print advertising, direct mail and sponsorships.

Assessing intangibles

"These marketers understand that business decision-makers rely on peer testimonial, face-to-face gatherings and outside authorities to help them assess intangibles like legitimacy, credibility and trustworthiness—factors difficult to convey in both online and traditional activities," according to the report.

Although 27% said they would increase spending on trade shows while 22% said they would decrease trade show spending, survey respondents did admit to spending more on large, trade-sponsored events then any other budget category.

However, according to the study, "Client conversations and other anecdotal stories show that b-to-b marketers waste money when they scurry around last minute to staff the booth and expect show-related traffic, or a favorable booth placement, to produce leads. B-to-b marketers who fail to build interactive campaigns that preview show-specific offers, invite attendees to on-site executive briefings and continue booth conversations via e-mail should look to spend their money elsewhere."

Analyst Laura Ramos, a VP at Forrester and the principal author of the report, explained that marketers are moving away from large events, but added, "they told us that one-to-one contact is still very important in the negotiated sales process that [is going on] in b-to-b marketing and selling." Read the complete article on BtoBOnline.

Search marketing continues to grow and morph, and by all accounts 2008 will bring more of the same.
A major player in the search world is Jeffrey Pruitt, exec VP-search at search agency iCrossing and president of the Search Engine Marketing Professional Organization (SEMPO). BtoB recently asked Pruitt to talk about current and future trends in search marketing and the biggest challenges marketers will face in 2008. Read the complete article on BtoBOnline.

The customer is very much on the minds of leading marketing executives these days. Across numerous research initiatives undertaken by the CMO Council, marketers collectively indicate they are spending more time and resources than ever before on understanding and engaging with their customers, including increased investments in customer communities, CRM systems and processes, and customer intelligence and analytics. The CMO Council has been a champion of these efforts, advocating a more disciplined, measurable and integrated approach to marketing, anchored by greater knowledge and more meaningful interaction with customers and customer markets. Now we believe it is time for a new measure of marketing performance – called customer affinity – that looks beyond old brand metrics to support marketing in its critical role of building customer-centric businesses. Register to download the free Executive Summary or purchase the full report from the CMO Council's Customer Affinity Website.

[Note: CMP was an underwriter for this CMO Council study.]

Question: What is the best way to optimize search marketing for international markets?

Answer: As the evolution of the Internet continues, b-to-b marketers are reaching a crossroads in determining what tactics have worked in the past to attract traffic to their sites versus what approaches will work in the future. According to Internet World Stats, two-thirds of global Internet users are non-English speakers. This growing volume of search activity means that marketing opportunities will continue to evolve on both regional and global levels.

So how can b-to-b marketers capitalize on this trend? Is the answer as simple as translating all Web pages to the targeted country's language?

Translation is one component of optimizing for international markets, but it's in no way the end-all answer. A word-for-word translation of a Web site is ambiguous. Instead, Web sites should be translated according to concepts. A simple translation does not take into account cultures, customs and preferences specific to various countries. Additionally, a simple translation loses targeted keywords. Read the complete article on BtoBOnline.

How do companies innovate successfully?

They can spend the most money, hire the best engineers, develop the best technology, and conduct the best market research. But unless their research and development efforts are driven by a thorough understanding of what their customers want, their performance may well fall short — at least compared to that of their more customer- driven competitors. John Schiech, president of the DeWalt division of Black & Decker (the division that makes power tools used by professional contractors), put it simply. When asked what made his com - pany so successful, he responded, “It’s engineers and marketing product managers spending hours and hours on job sites talking to the guys who are trying to make their living with these tools.”

This insight represents a further amplification of our ongoing research into the costs and value of corporate innovation. In 2006, as in the two previous years of our annual study of the Booz Allen Hamilton Global Innovation 1000 — the 1,000 publicly held companies around the world that spent the most on research and development — overall corporate revenues among these companies increased 10 percent. Once again, their overall spending on research and development also rose, to US$447 billion this year. And as in years past, we found no statistically significant connection between the amount of money a company spent on innovation and its financial performance. This document presents only a summary of the available research. Download this Booz Allan Hamilton report...

Doing your homework can help event planning for international attendees go more smoothly

As globalization makes the world smaller, more U.S. companies find themselves creating b-to-b events for an international audience. Whether marketing at home or abroad, building an event for a crowd from abroad requires special attention to detail.

Taking an event abroad can be expensive and it is nearly impossible to plan for all the eventual pitfalls. However, doing some legwork in advance can curtail unexpected costs and issues.

"Anytime you're going overseas you have to be aware that things are going to be different," said Carol Krugman, director-client services at experience marketing company George P. Johnson. "You would be amazed at people who believe everywhere in the world everything is the way it is at home. Those are the people that run into tremendous trouble. You have different languages, customs, business practices, different hours of operation, electrical currencies, video standards, even dial tones on telephones. Be aware that everywhere you are going to be working, you must educate yourself." Read the complete article on BtoBOnline.